27 Replies to “Four Bad Bears”

  3. Obama’s Bear Market.
    Ah, the lies the angry right fringe tells itself to sleep warm and toasty in their bile.
    Nice campaign slogan.
    Yeah, good luck with that, Fred.

  4. When one bothers to scratch the surface, and look into the real facts that brought this on, it was Clinton, Barney Frank, and their LapDog appointees to Fannie and Freddie thought sowed the seeds for the financial crisis.
    Oh, and many of them are firmly in Owe’s camp, and working behind the scenes for him.
    Philboy, this was not created by Bush, despite your attempts to obfuscate.
    Tell me Phil, why is it that every time Owe and Geitner opened their mouth to say something, the markets overwhelmingly spoke to the contrary? Could it be that these guys really have no clue, and are grasping for straws? Or, more likely, they are doing the opposite of what needs to be done

  5. It would be very interesting to see one more line on this graph Kate. One that shows which political idealogy, right or left leaning, was in charge in Congress and Executive of the US during these ups and downs of the stock market.
    Has there ever been a sustained rise in the markets when the left had control of gov’t? Let me answer that, No. FDR was not a leftist. His wife was, but she was not President and had marginal influence on him, both politically and spousal.

  6. Oh yeah, Dan, I forgot Barney Frank did a Vito Corleone and put a gun to Wall Street’s collective head and forced them to create that $60 Trillion, unregulated shadow market in esoteric derivatives and then compelled the bond agencies to rate this garbage AAA. That’s one, bad, powerful Barney.

  7. They are all responsible….it has been one big ponzi scheme since the mid 90’s, with some social engineering thrown in for the hell of it.
    Until I see a thousand or so white collar criminals marched off to prison, they shall never see another nickel of my money.
    Tis a good time to be a slum landlord…..at least I can control my own destiny!

  8. Remember the Iranian oil bourse which trades in currencies other than the US dollar. Also listen to the rhetoric coming out of China asking for guarantees on its US debt. Consider the recent confrontation in the South China sea. Finally, ask yourselves what the natural gas deal between China and Iran might do to the US dollar.
    Those nutty socialism and women’s issues professors at York U wasting their time moaning about the Jooooos: they are missing the real action. The fun is just beginning.

  9. I think they will need more paper for this bear.
    And the cupboard might be bare too.

  10. Obama’s Bear market
    Obama’s flip flop on taxing employer paid Health Care Benefits
    Inflicting poverty on middle class Americans by driving up the price of everything with his carbon tax disguised as “Cap & Trade Revenue”
    Can’t even put a cabinet together
    Using a teleprompter at press conferences so his off stage stooges can send him the answers.
    A budget that uses 4% economic growth rate as its key assumption
    All this in less than 3 months
    Obama is going to be a one term POTUS who will make Jimmy Carter look brilliant.

  11. Hey philboy, have a serious look at old barney frank and tell me his crap doesn’t stink. Hell he was boinking his boyfriend who had a nice job at Fanny at the same time he was legislating things that were prosperous for Freddy and Fanny. His fingerprints are all over a lot of questionable deals in the past decade or so but has been given a pass, probably because pointing out the conflict of interest would get the pointer labeled as being homophobic. If your wife was on the executive of a major lending institution do you honestly think you could be running a government committee overseeing said institution? I think not.
    The fact that barney is spouting off about an inquiry is incredible at the least and arrogant at the most.

  12. Markets hate uncertainty.
    Excessive leveraging is a very uncertain thing.
    $147 dollar oil last summer was certainly scary.
    Last fall, polls suggested Obama was widening his lead over MaCain. Selling started over uncertainty about what O would do.
    Uncertainty over what the Radical Greens would do. For the first time in history, the world’s economy is faced with an enemy that is bent on destroying job producing industries. Uncertain job prospects.
    Uncertainty over how crazy todays Media will become. Just a few years ago, anyone suggesting that Journalists and Editors would push a clear fraud would have been laughed out of the room.
    Uncertainty over how severe Europe’s collapse will be – it’s banks are leveraged far worse than North American’s and Greens there are far stronger with their suicide push.
    Uncertainty over how much more slack the Politically Correct will give the Religion whose stated goal is to destroy Western Democracy, especially western economic activity and life styles.
    The only thing that is certain is that the markets are already looking ahead 18 months to the US midterms.
    Another is that if countries around the world keep printing money we are headed for inflation, hyper inflation even. China is already making noises about the future value of it’s US treasury holdings.
    Another certain thing – if paper money starts to loose value, many will get rid of it. Better off to own something other than paper with ink on it. (see Money Mischief by Milton Friedman) May be the reason for the 32 percent rise in S&P Financials last week. Nice profit, that – ha !!

  13. The O inflicts pain with pearls like “price and earnings ratio”
    this is more like a Bayer market.

  14. The ONLY person who can save Obama’s butt from that that kind of catastrophically steep glide path is “Sully” Sullenberger III. Obama’s gonna be in the Potomac. We are along for the “ride”.

  15. I give up; is he radical or incompetent? President Zero has no interest or aptitude for the hard work of being president. I’d enjoy watching his fans slink for the exits, but unfortunately this is serious stuff and affects us all.

  16. Mama Bear, Papa Bear, Obama Bear, Monica Bare.
    Got the visual. You have owed keyboards but you owe me retina.

  17. Fred, even someone as wondrous as the One cannot possibly make Jimmy Peanut look brilliant. Walk on water, perhaps, but not that.

  18. “forced them to create that $60 Trillion, unregulated shadow market in esoteric derivatives and then compelled the bond agencies to rate this garbage AAA.”
    Philboy has a point. It was Bill Clinton – D Pres, who signed the bill that prohibited regulation of credit default swaps as a lame duck in 2000, probably because the scumbag Phil Graham -R Texas knew that Bush -R would not sign it. An opinion borne out by Bushes, unfortunately inadequate attempts to reign in Fanny Mae and Freddy Mac which knuckled to filibuster threats by Dodd, and others. So, yes, I agree with Philboy. Barney Frank poisoned the mortgage loan market, but he didn’t convince the financial world that CDS faerie dust abolished risk.
    One question for Philboy. Why isn’t heavily regulated Europe doing better? In fact, why are they doing worse? If it is the US’s fault, why didn’t heavily regulated Europe steer clear of US investments?

  19. IMHO, political leadership has very little to do with bull and bear markets. In bear markets, inventories, exuberance and stock values get ahead of themselves, but the bull continues until some catalyst (oil shock, tech crash, credit crunch) starts the crash. Then it ends and life goes on again.
    Bulls and bears have one thing in common, emotion gone too far, whether it be greed or fear. I see the exact same mistakes being made in this bear market; rather than searching out value, people assume market will go down further, which seems the tenor of this post.
    Search out value folks (hint: some companies are still making great profits but have seen their values driven down, which means higher dividend yields based on stock price). If you are concerned about further drops, then dollar average into this market.
    Markets like this are the times when the truly big money is made. But no, people would rather buy into a bull market when values are clearly inflated, then blame equities, or something else, when they lose money.
    Their behaviour is the main culprit, as it is in the present environment.
    No way this bear is an Obama bear; c’mon give your head a shake. Bulls and bears are normal, they aren’t going away, despite who is POTUS, or PM of Canada, or anything else.
    When people are fearful, be greedy, and the other way around. Be a contrarian; why, because most people, including industry “professionals,” don’t have a friggin clue what they’re doing.
    They do, however, create bargains for disciplined investors who chuck emotional responses to economic volatility.
    Oh, sorry, was that insensitive?

  21. hudson duster at March 15, 2009 5:11 PM
    …no interest or aptitude for the hard work…
    Quite so.Just like being president of the Harvard Law Review, he is now president of the USA. He will enjoy the vain-glory but not actually do any work.

  22. Obama screamed from the rafters that we needed to spend a trillion dollars that we don’t have. His budget says we need to spend trillions more money we don’t have. The markets are scared crapless by these moves. Pretending that the uncertainties Obama has introduced are not affecting the market negatively is denial.

  23. Obama did not cause this problem but since getting elected he has done everything wrong. The real cause is too much debt. The responsibility for this lies with both political parties and the electorate. This is a depression and requires an unwinding of all the excesses of the past. Creating more debt will not fix it but merely prolong it and eventually make it worse. The chart that is relative here is the 1929 one. The one exception is that they will eventually get mega inflation from all the money printing and a collapse in the value of the US dollar.

  24. Start all the way back to Nixon if you want to start throwing blame around. Each successive President has just added crap to the pile he started.
    Instead of trying to be partisan about it … why don’t we just all agree that there isn’t a politician alive who really is in it for the people.

  25. “Oh yeah, Dan, I forgot Barney Frank did a Vito Corleone and put a gun to Wall Street’s collective head and forced them to create that $60 Trillion, unregulated shadow market in esoteric derivatives and then compelled the bond agencies to rate this garbage AAA. That’s one, bad, powerful Barney.”
    philboy, there’s no doubt that Wall Street incompetence was a big part of the problem. Also American banking laws being too loose. However, Freddie Mac and Fannie Mae and their government backing were big players in this mess. In this case Bush had the right policies in 2003 and 2005 to help mitigate this problem, but Freddie Mac and Fannie Mae were staunchly defended by the Democrats from any stricter regulation.
    Besides, are you not at all curious about why there has been no bipartisan committe formed to investigation the causes of this financial crisis? Wouldn’t that make sense given the magnitude of the problem and its impact on Americans? I think this would make sense if it wasn’t your party’s policies and friends who were to blame.
    And then there’s everything that’s happened over the past 100 days …

  26. http://www.ottawacitizen.com/business/fp/Great+Depression/1388627/story.html
    “I believe we have avoided another Great Depression,” says Ahamed. “In the 1930s the central bankers gave the patient the wrong medicine. Today we know what medicines to give, we just may not be giving high enough doses.”
    Ahamed maintains that the beginning of the end for the Great Depression came as soon as countries took themselves off the gold standard. Britain made the break in 1931 and the U.S. and Canada followed suit.
    The trouble was, these moves came only after years of exceptionally painful economic contraction. The value of America’s gross domestic product slumped 26.5 per cent from 1929 to 1933; in Canada, the fall in economic output was an even deeper 27.7 per cent. From these depths, it required another half decade of real economic growth to return to the levels of 1929.
    Central bankers now are trying desperately to arrest their economies’ downward momentum. Canada’s $1.6 trillion economy contracted 0.8 per cent in the fourth quarter of 2008 (in real terms, after inflation, compared to annualized GDP in the third quarter). The consensus is that the rate of decline in GDP will pick up slightly in the first quarter of 2009, then gradually diminish. A return to growth by the second half of this year is considered likely.
    In all, this represents a cumulative decline of 2, maybe 3 per cent in Canada’s real GDP, from the third quarter of 2008 to the third quarter of 2009, followed by 2 per cent growth in 2010. This would be similar to the recession we experienced in 1990-91, a comparatively mild economic event except for the 461,000 Canadians who lost their jobs.
    So if the ladies are still getting their hair permed and colored, you are not living in a Depression.
    Cheers
    Hans-Christian Georg Rupprecht, Commander in Chief
    1st Saint Nicolaas Army
    Army Group “True North”

  27. The policies Ogabe is bringing in can only hurt the economy even more. So now the question is… Is he that stupid or is he deliberately tanking the economy to further his Marxist goals?

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