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quote:
Originally posted by tada
Looks like those nasty October crashes are a relic of the 20th century. and I guess because of the instantaneous communication today we suffer tortuous lingering declines.
The October crash of '29 took several years to go from a (then) market high of 250 or so down to just under 50. If we extrapolate the numbers, then our market high of 14,000 (or so) will eventually end up at around 3,000? By sometime around 2010?
Are the conditions similar enough for a repeat of history?
Looks like WaMu is still shedding numbers. Will it ever reach a point of "buy"?
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
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Will it ever reach buy?
Depending on who you are, and how connected you are. There is a lot of money out there being made on inside deals right now.--say buying a billion bucks WAMU at 1.24 when you've got a personal pledege from Paulson to bail out the company if it gets any deeper.
Capitalist? You must be kidding.
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quote:
Originally posted by Hotzcatz...
Smoke and mirrors accounting, for sure!
If you want a reality check, go to your banking institution and try to take out a really large chunk of cash. Say more than five grand and less than ten so you don't have to fill out the Federal paperwork. Betcha they will do everything except handstands to talk you out of the idea. I'd give you about a fifty percent chance they will let you have the cash on the spot, more than likely they will tell you to come back the next day....
I know someone who does this every week at a bank in Hilo. Never an issue except in the beg verifying that the person was who they said they were (i.e it was really their name on check) and check writer was really checking acct owner. Ten months later they walk in a cash without ID now almost.
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To bring this back to Hawaii before Rob gets on us - did any one see the morning news promo yesterday with Howard Dicus in Honolulu - he said something to the effect of "stay tuned for news on Indymac, Freddiemac, FannieMac and Big Mac".... they panned to the newscasters and they were just cracking up.
Okay now back to your regularly scheduled programming.
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Howard was using old numbers and he was pretty optimistic in his outlook. In my opinion, unrealistically so, however when talking in public or talking from a position of authority all the financial gurus seem almost required to be as optimistic as possible. Bush is telling everyone our financial institutions are just dandy and in fine shape yet if you ask the guy on the street you will get a much different story.
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
