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The Stock Room page 52
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(Continued from page 51) · Over the past 3 months individuals and financial institutions have lost billions of dollars due to the decline of the value of their muni bonds! · The credit ratings of local & State municipalities have crashed! · Borrowing costs for your local governments have skyrocketed! Etc. Etc. All due to what some narcissistic jerk had to say! Again let’s review: * In 2007 a noted short seller destroyed the muni bond insurers and from then on local governments could not get insurance for their bonds and had an impossible time getting decent credit ratings. * Meredith Whitless and other noted short sellers bashed the banking & mortgage system to such a point that several large institutions had runs and failed; thrusting the nation and the world into economic chaos. * Because they didn’t like the way the Europeans were dealing with their economies, Pimco shorted the bonds of European nations to such an extent that the Europeans are still trying to figure out a way to resolve the devastation. * Meredith Whitless, looking for a 2nd round of glory, picked up on Pimco’s European playbook, and has started the rumorboarding destruction of every U.S. small local and State municipality bond issuance. Þ And the final outcome is: ALL THE REST OF US GET SCREWED OVER ONCE AGAIN! EVERYONE should also understand that Whitless and others are probably shorting all these muni bonds under a similar scheme like Paulson & Goldman Sachs did to mortgages. Remember Abacus? ONLY NOW they are doing it to the very States and cities we all live in, and this time it won’t be just Lehman’s that comes crashing down! __________________________________________________ apppro’s take for 01/14/2011 @ 09:00 am EST: From NBC to FOX to CNBS to MSNBC to CBS all I hear is how the members of government will try to engage each other in a more civil way. Good, that would be a nice start… decency and compromise can go a long way! However, I have NOT heard from almost everyone on how the media has escalated this hysteria and keeps the fires of misery burning. No one seems to want to confront the purveyors of the angst and hatred. It just seems to be a whole lot more ‘PC’ to attack the easy targets. Sort of sounds like how the Prez attacked the banks for causing all the evils of the past 4 years. The real issue still is the media and how they are causing this through their own narcissistic need to pursue their ’15-minutes’ and more importantly their need of ratings. Follow the money! As I said months ago, it is the media that has us all at each other’s throats. I know you should never “shoot the messenger”, but in this we all may want to make an exception! You want to know what makes me mad….
__________________________________________________ apppro’s take for 01/11/2011 @ 01:30 pm EST: Just a Disgrace!
Below is EXACTLY the truly awful, horrid media coverage that has been going on, especially in the financial arena. Have we learned nothing, especially in light of what just happened in Tucson? It doesn’t matter whether you own stocks! It doesn’t matter whether you own Chinese stocks! It doesn’t matter whether you ever listen to CNBS! What does matter is that you recognize that this kind of hateful behavior for personal narcissistic reasons, is emblematic of what happened in Tucson and that we all need to take a long hard look at what we do and how we do it! What these two guys did today shows the inflammatory and uninformed way these so-called reporters treat another individual. Besides from the screaming and unsubstantiated accusations, the disgraceful disrespectful way they treated their own guest is horrible. They even laugh in his face. This is horrid!
What are they looking to accomplish: Someone to take up a gun and blow another person’s brains out? This is the negative and hateful way the press treats people that leads to disgraceful actions like in Arizona. Someone needs to stop this kind of reporting. REPORTING! WRONG! Waterboarding is more like it! Whatever you call it, IT IS JUST A DISGRACE!!!!!!!!!!!!!!!!! __________________________________________________ apppro’s take for 01/11/2011 @ 07:30 am EST: What did I say? In the attempt to find some sense of what happened in Tucson the media keeps blaming EVERYONE ELSE’S tone and rhetoric for the violence and hatred. Hey jerks, LOOK IN THE DAMN MIRROR ALREADY! If it were NOT for YOUR mostly biased and hateful reporting, then I am sure things would never have gotten this bad. I am sure everyone can give example after example. This is how the media gets ratings and makes money, but the rest of us keep paying the price. Don’t think for an instant that it stops here! The god awful biased reporting by Wall Street’s so-called reporters is just another example of the same hatred and biased reporting. Just look at the ridiculous amount of hatred being paid to AT&T over Verizon’s getting of the iPhone! WHO GIVES A CRAPOLLA!
REPORT THE DAMN NEWS AND STOP TRYING TO MAKE IT THROUGH YOUR ‘15-MINUTES’! The 5 Golden Rules—#3 Call out! 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. __________________________________________________ apppro’s take for 01/10/2011 @ 07:00 am EST: As I said yesterday, many are now asking WHY did the ‘Disgrace in Tucson’ happen. Many are blaming it on ‘political rhetoric’! Why the heck is NO one blaming it on ‘MEDIA rhetoric’! What really makes me mad, is how every TV program this morning has sought out every meaningless person they could to declare a hero, so they could sensationalize the event for ratings and the hysteria effect. “I’m mad as hell, and I’m not going to take it anymore!” _______________________________________ apppro’s take for 01/09/2011 @ 09:30 am EST:
Disgrace in Tucson
My condolences and prayers go out to all those involved with the latest insanity in Arizona. Over the next several days, weeks, months I am sure that many will try to make some sense of this. We are all sent reeling when things like this happen, but in reality it should not have been unexpected. Just watching the news this morning, and all of those seeking their ’15 minutes’ is just another example of the manifestation I call ‘YouTube Nation'. We all, especially the media that has promoted this need to be in the spotlight, need to look inward and try to see what makes us so possessed by this uncontrollable desire. Why do we all need to dance on stage, sing on the internet, shout out our biased opinions, or any of the other forms of self-expression that has become more important than actual life itself? The media especially needs to examine on why they must shout in our faces (Ed Show?) or makes jokes about others ideas and thoughts (John Stewart?) or be told that our way of financing our lives is wrong and we all need to suffer more (Meredith Whitney?); but a lot of this comes from the most prominent bully pulpit of all.. any thoughts on that one? We have all looked at the media as some sort of quick fix and quick road to a miraculous fortune! We have used our political figures as some sort of conduit for all our hate and fears. I know hiding our heads in the sand is not the answer, but right now we all need to pull the plug on most, if not all of those talking bobble-heads that spew all their negativity and angst day after day. We all need to stick out heads out our windows and yell: “I’m mad as hell, and I’m not going to take it anymore!”
_______________________________________ apppro’s take for 01/08/2011 @ 01:30 pm EST: Really, someone please tell me exactly when did we all become so controlled and manipulated by the compulsion for our own individual ’15-minutes’? Exactly when did the ‘YouTube Nation’ really take control? Many complain of the poor educational system and about bankers trying to screw everyone over, but no one seems to ever complain or even examine the need for many of us to place all our information and ingenuity on the internet or reality TV in the hopes of making a fortune with as little work and effort as possible. I’m not sure when all of this started, but for me it was when P. Diddy (a.k.a Sean Combs) shot someone with J. Lo (a.k.a. Jennifer Lopez) in a New York City nightclub back in 1999, and instead of stringing them both up… the media and public glorified them both as some sort of new age Bonnie & Clyde. Whatever or whenever it all started, does no one out there see any reason why it must and should continue? These 2 emails sent to CNBS pretty much sums it for me: Subject: Education Mark, You can throw all the money you want at education BUT until you get rid of the 'YouTube Nation' and the belief by many that all they need to do is put some moronic video on YouTube to become rich, nothing will change.
I think that homeless guy with a nice voice says it all!
Yeah I know - very un PC, but the truth anyway!
Subject: Facebook Hey Joe,
You're not alone. As Internet somewhat savvy as I think I am, I will NOT even log on to Facebook OR would I ever think to give them any of my information. I am a member of that Linked IN network -BUT even there I refuse to give any real information. Even on my own website the information is very limited.
Our entire "YouTube Nation" needs a reset and those on Facebook will get theirs.
Don't worry: Like a bad kidney stone.... this too shall pass.
And don’t get it wrong, this is exactly the same mentality that fostered people’s delusions that they were entitled to a 4-bedroom home with no down-payment, with no real income, and with no other real assets. This is also the same kind of obsession that makes some think that they can sit at a computer screen day-trading stocks ONLY because they read some blowhard’s book or watched his 1-hour TV show, and then they would be able to retire in Barbados. The evils of the ‘Generation Me’ crowd that I warned you about years ago, are finally coming home to roost. _______________________________________ apppro’s take for 01/07/2011 @ 04:30 pm EST: Here We Go Again!
This is exactly what happened in both 2009 and 2010: shorts trying to destroy the banks for no better reason than their own greed! CNBC's Fast Money: Kass: In Cash, Waiting to Make the Big Short Trade - CNBC That jerk Kass doesn’t come right out and say it’s the banks, but that is what he is famous for and leopards (a**holes) never change their spots. This time they are using a moronic ruling by a Massachusetts judge who thinks he has the right to rewrite the entire mortgage business based on 2 delinquent home owners from 2007. Just a disgrace! OK, you know I can’t stand that blowhard Cramer, but this time even he realizes the truth.
However, the media via mainly CNBS just can’t seem to stop the hysteria and angst. Less than ½ hour after Cramer tries to quell the stupidity, CNBS puts not 1 but 2 segments with that horrid Diana Olich right into everyone’s face. She has been promoting the same unwarranted hysteria over the past 6 months, and seems to have some hidden agenda in all of this. Come on people, until we stop these shorts and traders/traitors that feed off a ratings hungry media, than how do you imagine anything will ever change? Fine, some of you out there may not love the banking business, but even you must start to wonder, “When is enough… enough?” _______________________________________ apppro’s take for 01/05/2011 @ 07:00 am EST: Just Not Getting It!
Like the Republicans waste of time trying to repeal that putrid & ridiculous ‘ObamaCare’, the rest of us are still NOT trying to end the ‘Trader/Traitor Decade’ and the short-term mentality that is its base. Yesterday, the useless gold trade seemed to finally be coming off the table. The bloated Treasury trade bubble had finally been POPPED, but that useless gold trade was still confiscating precious dollars that could be used to create jobs or build bridges. This morning I get up to a faltering futures market all because they say some traders/traitors are pissed off that their paper gold bets are worth a whole lot less this A.M.! Come on people! Until we address this trader/traitor mentality nothing from Washington or on Main St. will matter. STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains 5+ years - 5% tax on capital gains 2. Capital gains 2 > 5 years - 15% tax on capital gain 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 6 > 12 months - 45% tax on capital gains 5. Capital gains under <6 months - 55% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund.
The 5 Golden Rules 1. Immediately, reinstate the Up-Tick Rule. 2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s. (Continued on page 53) |
