Predictions for 2010

[JWFITZ]

Nicely put.

http://sensiblesimplicity.lefora.com/

[Del Pranke]

Paulw Next you'll try to tell me that wrestling isn't real.

[David M]

quote:

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Originally posted by John S. Rabi

[quote
DavidM, the TARP was repaid by all the banks, the last two paying it were Citibank and Wells Fargo during the last week of December.

Aloha,
John S. Rabi,

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John, you have a source? http://bailout.propublica.org/main/timeline/index

David

Ninole Resident

[808blogger]

He is correct, however this fact should SCARE the CRAP out of you and not make you feel reassured. How are the banks making record profits now?
The question to ask is where did the banks get the funds to repay TARP if they "are not lending"
TARP was only a small part of the insanity of the papering over that the fed is involved in to the tunes of TRILLIONS of dollars.
Look at the m3 chart, look at the bank reserves now held at the Fed.
why is the Fed PAYING INTEREST ON RESERVES?
why did the FDIC just raise the limit to 250,000 per account
why does the fdic claim its actually broke though?

I have nothing against john rabi but he is just looking at the facts through the lense of a Real estate agent and his view of the economy.

This will be the decade from hell, we are about to pay.

I would guess 99% (not everyone) in here is a Keynsian and doesn't even have a clue what that means.

Break out of the thinking box, history will tell us what is about to happen to us.

make sure you know what a FIAT currency is vs REAL currency

quote:

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Originally posted by David M

quote:

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Originally posted by John S. Rabi

[quote
DavidM, the TARP was repaid by all the banks, the last two paying it were Citibank and Wells Fargo during the last week of December.

Aloha,
John S. Rabi,

---

John, you have a source? http://bailout.propublica.org/main/timeline/index

David

Ninole Resident

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[JWFITZ]

Actually, I do think it is a source of some optimism that these issues are actually being much more coherently discussed in this forum. If one scans over the source "Mr Wolf" thread one fill find a great deal more complacency towards these issues a year or so ago. It is progress in some measure to find those more willing to discuss the issues. And more people are more informed. That's no small thing. It's more than a little ironic to me to have been labeled too negative a year ago to now be considered "incorrect"--nicely cherry picked criteria, by the way(maybe the terms "accurate" or "valid" or "useful" could also be interesting criteria and don't grind any ideological axes)--to be "incorrect" by being too conservatively optimistic. Ah well, that "error" pulled me a near 30 percent rate of return last year and I unabashedly hope to be equally as wrong this year. LOL. I'll bet a lot of folks here would be pleased as punch to find a Financial Planner that could consistently screw up as well as that.

Still I think the situation is year is far more complicated. Mostly I'm very worried about the solvency of the State of Hawaii and how we're going to fund even the most basic issues, and I've got very little confidence in our "leaders" to recognize the real issues that face us. It's going to be a mess.



http://sensiblesimplicity.lefora.com/

[EightFingers]

I predict people will continue to make predictions. I also predict about half will be wrong. [}][]

Remember, God laughs when man makes plans.*





* I hope I didn't offend anyone by posting this, it was not my intent.

[JWFITZ]

True enough.

The most important topic for us to have, I think, locally, is this: How do we maintain a local economy in the world that faces us without stimulating "uneconomic growth?" That's a constructive discussion and a very important one.

http://sensiblesimplicity.lefora.com/

[LeeE]

whatreallyhappened.com posted a piece from the huffington post today re. Community Banks that might be of interest to folks here as events unfold. Here's a snippet.

"Escape from Pottersville: The North Dakota Model for Capitalizing Community
By: AnnT
Tags:

* DICTATORSHIP
* ECONOMY

North Dakota is the only state in the union to own its own bank. The Bank of North Dakota (BND) was established by the state legislature in 1919 specifically to free farmers and small businessmen from the clutches of out-of-state bankers and railroad men. Its populist organizers originally conceived of the bank as a credit union-like institution that would provide an alternative to predatory lenders, but conservative interests later took control and suppressed these commercial lending functions. The BND now chiefly acts as a central bank, with functions similar to those of a branch of the Federal Reserve.

However, the BND differs from the Federal Reserve in significant ways. The stock of the branches of the Fed is 100% privately owned by banks. The BND is 100% owned by the state, and it is required to operate in the interest of the public. Its stated mission is to deliver sound financial services that promote agriculture, commerce and industry in North Dakota..."

[Dave M]

I'm still just lurking.. but I wonder what the repeal of the "Glass Steagal Act" has to do with the price of poi in Hawaii? Don't go run back through the thread looking for it in as much as i brought it up as an interjection to the convesation.

Wikipedia:

""The Banking Act of 1933 was a law that established the Federal Deposit Insurance Corporation (FDIC) in the United States and introduced banking reforms, some of which were designed to control speculation[1]. It is most commonly known as the Glass–Steagall Act, after its legislative sponsors, Carter Glass and Henry B. Steagall.

Some provisions of the Act, such as Regulation Q, which allowed the Federal Reserve to regulate interest rates in savings accounts, were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999, by the Gramm–Leach–Bliley Act.[2][3""

I agree the attitude here has changed and it's a good change. I was ROTFLOL at the Keynsian crack but remember If they have ears to hear let them hear. (nudge don't shove) I think after years of lurking and occasionally posting here I can honestly say that most of the folks here are open to the truth and are willing to listen.

Opps forgot my prediction.. I predict that paulw will have his thread hijacked by someone who lives in Hawaii. (man Im good)

Blessings,
dave

"It doesn't mean that much to me.. to mean that much to you." Neil Young

[PaulW]

If you predict a number to be in the range of 7000-7200, and 6440 is the actual value, then the prediction is incorrect. It's a fact, not a judgement.

How about some testable predictions for this year if you're so good at this? It's always easy for people to make vague statements and then claim they're right.