adbrite ads

Your Ad Here
Your Ad Here




Friday, November 14, 2008

Markets of selling off hard with the dow down 300 points right now and off the low. MLPS not down nearly as much with a 2 point loss which is reflecting catch up from yesterday (we're down less!). The Atlas complex (APL,AHD) continues to circle the drain as they are down...APL to 10...AHD to 5 and a fraction on the Citi downgrade.

The energy complex continues its unrelenting drop with crude at 56 and change. Gasonline at 1.23 2.33 gas here in NY and under 2 dollars everywhere in New Jersey. Who would have guessed it 4 months ago! It just took a complete collapse of capitalism.

Had my tooth refilled so i'm pretty numb right now. The markets have numbed me long ago!


Anonymous said...

It is now obvious that the entire crude run from $50 to $147 was a gigantic fraud. The global marketplace has become dysfunctional. There are no repercussions for breaking the law. The SEC, AG's, etc have no grasp of market dynamics.

Anonymous said...

The oil price run up was a bubble that was created by another bubble.

The bubble of stupidity.

1) We have no rational energy policy ( we should have a policy that encouraging drilling, alternative energy, and conservation ).

2) Balance of payments deficit ( policies that allowed BOPD to build to unsustainable levels ( energy, auto, + manufacturing decline ))

3) Health care policy ( national single payer policy would make manufacturing more competitive )

4) Congress ( the ability of congressmen to confuse their interests ( compaign contributions aka bribes ) with the general good ).

5) The American voter who votes for same corrupt incubents year after year.

6) A tax system that punishes earning rather than consumption ( corporate taxation and much of the personal income tax should be replaced by a national sales tax ).

7) Captive regulators ( who have been co-opted by those who should be regulated instead of working to limit systemic risks )


Anonymous said...

Hey Joe, ignore that crap about nothing of value on this blog. That's pure, unaduterated bs. The vast majority of us genuinely appreciate all your tireless efforts here and find this blog very, very helpful, especially during these challenging times. It's also good to have a forum like this for personal expression as we all share cabin space on the Titanic. (Misery loves company.)

I've said it before and I'll say it again: Charge us a subscription fee!


P.S. Don't forget, Hank's on in 27 minutes!

joewxman said...

thanks lee!

as per the subscription fee...if i don't find a job soon i may have too!
(Actually i did find a job that starts in December)

Anonymous said...

Concur with Lee's comments. JCarr