sell-off is just a taste of what’s to come…
Pay no attention
to what the press has to say. Pay no
attention to what the Fed has to say.
All is not well. I said the same
thing before the subprime and housing fiascos, the Dow collapse to 6,500, and
the UK economic collapse.
No one trusts
this market. Volume is very low. Traders
are still on the sidelines. And the
billionaires are running scared.
Warren Buffett –
who is now complaining about ‘disappointing performance’ in companies like
Johnson & Johnson, Procter & Gamble and Kraft Foods – has been
drastically reducing his exposure to stocks that depend on consumer buying
of our economy relies on consumer spending, that’s worrisome, to say the least.
John Paulson –
who made a fortune betting on the subprime disaster – is selling, too. His hedge fund just dumped 14 million shares
of JP Morgan, for example, as well as positions in Family Dollar and Sara Lee.
just sold massive positions in bank stocks, including JP Morgan, Citigroup, and
Just why are
these guys selling in one of the biggest rallies we’ve ever seen?
they know the truth… They know the
market rally based on easy money printing has run its course.
recovering. We’re far from it.
The press can
try to convince the sheep otherwise, but I’m not buying it. I never have.
And I never will. I’m interesting
in making money for myself and for readers.
I’m not interested in following the sheep off the edge of the
cliff. And neither are these billionaires.
Tell me this.
If our economy is doing so
well, why are retailers closing their doors?
Best Buy is
forecast to close 200 to 250 stores.
forecast to close 100 to 125 stores.
JC Penney is
forecast to close 300 to 350 stores
is closing 300 stores and cutting about 3,000 jobs.
be reducing its work force by about 10 percent.
having a disastrous month. The company’s
president of finance just said this is “the worst start to a month I have seen in
my 7 years with the company.”
Digest just filed for bankruptcy.
City’s newest casino just filed for bankruptcy.
plan to solve Detroit’s financial nightmare, and bankruptcy could be around the
The CEO of
Town Sports International just said the company is struggling because consumers
don’t have “disposable income” any more.
insiders are selling hand over fist.
the press would have you believe the economy is great.
will the press say when millions of federal workers face painful furloughs?
long as things look okay, that’s good enough.
not any more.
not a pessimist by nature. I’m a
realist. And I’m tired of watching Wall
Street railroad Main Street over and over again.
we’re fighting back… We’re making money playing by our own rules at Speed