Archive for the ‘Market’ Category

2/1/09: Another Week of Distressing Money News

This could be another week of bad news for Wall Street as key economic indicators, as well as some big companies, are reported. Oh, and deflation.

January often times indicates how the rest of the year in going to be on Wall Street. Let’s hope not.

Obama a Socialist….I Don’t Think So

So I’ve been hearing a lot of talk about Obama being a Socialist. It has my fellow investors freaked out. Even though one of the greatest investors of all time, Warren Buffet, supports Obama, and could possibly fill a cabinet position in an Obama administration. Ask yourself, why would Buffet support Socialism? If you said yes, really?

Now if you believe that Warren Buffet would support a Socialist for President, consider Brian Moore, the real Socialist for President, who says that Obama is the furthest thing from a Socialist in his mind. Also, consider the fact that our current administration, along with our Democratic Congress, has bailed out the financial industry with record funds and is directly buying shares of certain banks. Yet we are worried about Socialist getting into office? The only thing our current administration can do to become more Socialist is to hand complete control of the banks over to Washington Bureaucrats.

Don’t get me wrong, I don’t hate John McCain, but I also don’t believe that Barrack Obama will be bad for our economy. No worse than John McCain at least.

So lets just toast to a higher and better stock market in the coming years. No matter who wins.

Dr. Doom Predicts Market Stop

Nouriel Roubini, an economic adviser to Bill Clinton in the late 1990s, has made many unpopular but correct predictions about the stock market. A year ago he predicted that the market would fall, and people laughed. They dismissed his financial predictions that the sub-prime mortgage disaster would trigger a financial meltdown. Or his view that US mortgage giants Fannie Mae and Freddie Mac would collapse, and that the investment banks would fail. Well, not anymore, not he has become a sought after economic speaker and advisor to some of the wealthiest business mean and politicians the world over.

So what is his latest prediction for our already shaky stockmarkets? Well in London last week he predicted that hedge funds by the hundreds would collapse and the makets would have to close for up to a week to stop the panic selling.

In case anyone wants a different take on this, his critics say that his predictions of a US recession in 2007 was wrong. According to Anirvan Banerji, economist with the New York-based Economic Cycle Research Institute, Roubini’s prediction aren’t based on mathematical models.

via TImes Online