Global Correction

[VegasVic]

Nouriel Roubini: Worst is ahead of us - Recession Will Last At Least Two Years

15:41 EST Wednesday, Oct 22, 2008

Nouriel Roubini, the New York University professor who has emerged as one of the leading commentators during this financial crisis, continues to say frightening things. His latest comments, made on CNBC, give a good overview of why markets have been roiled lately by economic news.

“The worst is still ahead of us,” Mr. Roubini said, noting that the flow of macro-economic news over the next several weeks and months will be worse than expected.

He believes that there will be a sharp decline in earnings, and not just for financial firms. Emerging markets, he said, will fall into crisis. And hundreds of hedge funds will close down, putting additional pressure on the stock market as they liquidate their positions, and making cash the best possible investment.

Yes, recent government actions have probably averted the risk of a systemic financial meltdown. But the risk of an L-shaped recession, where two years of economic contractions are followed by a lengthy period of subpar growth, is realistic. And that doesn't just apply to the United States, but to all developed economies, including Canada.

As for commodities, including oil, expect another 20 per cent slide.

Mr. Roubini is not uplifting, but you can't look away.

CNBC/The Globe & Mail

http://www.cnbc.com/id/27321400

LaoPo

Mr. Roubini certainly is correct about Oil going to $50/bbl and about the masive hedge fund liquidation (which in turn will give up some of the best equity bargains in the past 50 years ), but I doubt the recession will last two years, especially with all of the government intervention worldwide

[Naam]

Nouriel Roubini: Worst is ahead of us - Recession Will Last At Least Two Years

LaoPo

Mr. Roubini certainly is correct about Oil going to $50/bbl and about the masive hedge fund liquidation (which in turn will give up some of the best equity bargains in the past 50 years ), but I doubt the recession will last two years, especially with all of the government intervention worldwide

Nouriel is a skeptic and quite often a pessimist. but in my opinion he is quite optimistic in this respect. even though it depends on how exactly "recession" is defined i think it will take more than two years till the average global growth shows a plus again.

[lordofdelusion]

The problem with most economic predictions is that you can't possibly account for everything. I always thought financial planning was an oxymoron. Nobody knows how long they will live, the rate of return on their investments, the rate of inflation, life events, birth, illness, natural disasters, wars, terrorist attacks, epidemics etc; Likewise nobody knows what measures the governments of the world will introduce to help/hurt the situation. Wars are always just a shot away. So all you can predict is that markets will go up and down at some point and then repeat the cycle. Economist like to speak in such absolutely positive remarks.

[midas]

Nouriel Roubini: Worst is ahead of us - Recession Will Last At Least Two Years

15:41 EST Wednesday, Oct 22, 2008

Nouriel Roubini, the New York University professor who has emerged as one of the leading commentators during this financial crisis, continues to say frightening things. His latest comments, made on CNBC, give a good overview of why markets have been roiled lately by economic news.

“The worst is still ahead of us,” Mr. Roubini said, noting that the flow of macro-economic news over the next several weeks and months will be worse than expected.

He believes that there will be a sharp decline in earnings, and not just for financial firms. Emerging markets, he said, will fall into crisis. And hundreds of hedge funds will close down, putting additional pressure on the stock market as they liquidate their positions, and making cash the best possible investment.

Yes, recent government actions have probably averted the risk of a systemic financial meltdown. But the risk of an L-shaped recession, where two years of economic contractions are followed by a lengthy period of subpar growth, is realistic. And that doesn't just apply to the United States, but to all developed economies, including Canada.

As for commodities, including oil, expect another 20 per cent slide.

Mr. Roubini is not uplifting, but you can't look away.

CNBC/The Globe & Mail

http://www.cnbc.com/id/27321400

LaoPo

Mr. Roubini certainly is correct about Oil going to $50/bbl and about the masive hedge fund liquidation (which in turn will give up some of the best equity bargains in the past 50 years ), but I doubt the recession will last two years, especially with all of the government intervention worldwide

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

[Naam]

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

being an emerging market investor reading Nouriel Roubini is a must for me since years. a few of his opinions and views were completely off the mark. but shooting from the hip i would say that he was right in 80% of the cases. that is by far better than the majority of highly paid "anal-lusters" working for big banks.

[midas]

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

being an emerging market investor reading Nouriel Roubini is a must for me since years. a few of his opinions and views were completely off the mark. but shooting from the hip i would say that he was right in 80% of the cases. that is by far better than the majority of highly paid "anal-lusters" working for big banks.

Naam I saw him the first time being interviwed on BBC Hardtalk 2 weeks ago and

he was very impressive. But if anyone disagrees with his assessment of the situation

it would be interesting to read their research AND HARD FACTS as to why Roubini could be wrong

[hyperdimension]

Nouriel Roubini's web site

Has anyone been doing any short-selling? It would've been awesome to do some short-selling over the past year (in hindsight). Though it may not be too late to start.

Are consumers are going to spend less in the next couple of years?

Less consumption results in less company profits and therefore lower stock prices. So why not short-sell? Does that sound too simple?

[whiterussian]

I had a short open 1.5 years ago on a penny share stock that has fallen to a tenth of its value, unfortunately i closed it too soon. But at least im happy i picked the right share to short..

Im wondering the same thing as you, however im wondering if the market isnt consolidating for the next 3000 point (50%) drop. As an amateur 'chartist' with only about 1000 trades under my belt, i cant help feeling there is a bid wedge forming on all the indices, and i see no reason for it to break upwards.

Having said that, if this IS the bottom, im gonna be kicking myself for the next year. But then again the spreads on (UK) stocks these days is so high, i would still be fighting the fat cat market makers to get into a trade without instant losses.

[Naam]

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

being an emerging market investor reading Nouriel Roubini is a must for me since years. a few of his opinions and views were completely off the mark. but shooting from the hip i would say that he was right in 80% of the cases. that is by far better than the majority of highly paid "anal-lusters" working for big banks.

Naam I saw him the first time being interviwed on BBC Hardtalk 2 weeks ago and he was very impressive. But if anyone disagrees with his assessment of the situation it would be interesting to read their research AND HARD FACTS as to why Roubini could be wrong

shall we ask VegasVic?

[highdiver]

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

being an emerging market investor reading Nouriel Roubini is a must for me since years. a few of his opinions and views were completely off the mark. but shooting from the hip i would say that he was right in 80% of the cases. that is by far better than the majority of highly paid "anal-lusters" working for big banks.

Naam I saw him the first time being interviwed on BBC Hardtalk 2 weeks ago and he was very impressive. But if anyone disagrees with his assessment of the situation it would be interesting to read their research AND HARD FACTS as to why Roubini could be wrong

shall we ask VegasVic?

and Bingo??

I think both the above will be packing soon and moving to the land of smiles.

[LaoPo]

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

being an emerging market investor reading Nouriel Roubini is a must for me since years. a few of his opinions and views were completely off the mark. but shooting from the hip i would say that he was right in 80% of the cases. that is by far better than the majority of highly paid "anal-lusters" working for big banks.

Naam I saw him the first time being interviwed on BBC Hardtalk 2 weeks ago and he was very impressive. But if anyone disagrees with his assessment of the situation it would be interesting to read their research AND HARD FACTS as to why Roubini could be wrong

shall we ask VegasVic?

and Bingo??

I think both the above will be packing soon and moving to the land of smiles.

Don't think so; Bingo knows what he's talking about, whatever we wrote and/or think about him...

LaoPo

[Naam]

Bingo knows what he's talking about, whatever we wrote and/or think about him...

Bingo has the problem that he suffers from inferiority complexes. that's why he is trying to pull fast ones like "hey kiddies the pain... the pain" and other (for most TV-members completely irrelevant statements and impertinent assumptions), then disappears never answering any question because he is afraid being nailed.

Klingon warriors despise cowardly little poor boys who throw a stone and then run and hide

[LaoPo]

Bingo knows what he's talking about, whatever we wrote and/or think about him...

Bingo has the problem that he suffers from inferiority complexes. that's why he is trying to pull fast ones like "hey kiddies the pain... the pain" and other (for most TV-members completely irrelevant statements and impertinent assumptions), then disappears never answering any question because he is afraid being nailed.

Klingon warriors despise cowardly little poor boys who throw a stone and then run and hide

Maybe you missed my little hint.....in the words: Bingo knows...etc....where I was referring to the sentence: "I think both (VegasVic and Bingo) the above will be packing soon and moving to the land of smiles."

Well, whatever

LaoPo

[lannarebirth]

Nouriel Roubini: Worst is ahead of us - Recession Will Last At Least Two Years

15:41 EST Wednesday, Oct 22, 2008

Nouriel Roubini, the New York University professor who has emerged as one of the leading commentators during this financial crisis, continues to say frightening things. His latest comments, made on CNBC, give a good overview of why markets have been roiled lately by economic news.

"The worst is still ahead of us," Mr. Roubini said, noting that the flow of macro-economic news over the next several weeks and months will be worse than expected.

He believes that there will be a sharp decline in earnings, and not just for financial firms. Emerging markets, he said, will fall into crisis. And hundreds of hedge funds will close down, putting additional pressure on the stock market as they liquidate their positions, and making cash the best possible investment.

Yes, recent government actions have probably averted the risk of a systemic financial meltdown. But the risk of an L-shaped recession, where two years of economic contractions are followed by a lengthy period of subpar growth, is realistic. And that doesn't just apply to the United States, but to all developed economies, including Canada.

As for commodities, including oil, expect another 20 per cent slide.

Mr. Roubini is not uplifting, but you can't look away.

CNBC/The Globe & Mail

http://www.cnbc.com/id/27321400

LaoPo

Well Lao Po, that all sounds like pretty cheery news from Mr. Roubini, if you compare it to this guy:

http://market-ticker.org/

[AlexLah]

I think all Americans should vote for Ron Paul.

No?

[VegasVic]

Nouriel Roubini: Worst is ahead of us - Recession Will Last At Least Two Years

15:41 EST Wednesday, Oct 22, 2008

Nouriel Roubini, the New York University professor who has emerged as one of the leading commentators during this financial crisis, continues to say frightening things. His latest comments, made on CNBC, give a good overview of why markets have been roiled lately by economic news.

“The worst is still ahead of us,” Mr. Roubini said, noting that the flow of macro-economic news over the next several weeks and months will be worse than expected.

He believes that there will be a sharp decline in earnings, and not just for financial firms. Emerging markets, he said, will fall into crisis. And hundreds of hedge funds will close down, putting additional pressure on the stock market as they liquidate their positions, and making cash the best possible investment.

Yes, recent government actions have probably averted the risk of a systemic financial meltdown. But the risk of an L-shaped recession, where two years of economic contractions are followed by a lengthy period of subpar growth, is realistic. And that doesn't just apply to the United States, but to all developed economies, including Canada.

As for commodities, including oil, expect another 20 per cent slide.

Mr. Roubini is not uplifting, but you can't look away.

CNBC/The Globe & Mail

http://www.cnbc.com/id/27321400

LaoPo

Mr. Roubini certainly is correct about Oil going to $50/bbl and about the masive hedge fund liquidation (which in turn will give up some of the best equity bargains in the past 50 years ), but I doubt the recession will last two years, especially with all of the government intervention worldwide

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

You should listen to (and I might ad should HAVE listend to) both of us as we are on the same page except perhaps for the actual duration of the recession! Prof. Roubinis own words "As for commodities including Oil, expect another 20% slide" sure sounds like the drum that I have been banging on for the past 6 months I am familiar with the good Professor and he is usually overly pessimistic and does not factor in the resilience of the U.S. economy, with that said I would describe this recession as more of a backwards J instead of the L that he has advaocated, this will not be a replay of the 1970's but I agree that this will continue through most of 2009!

[VegasVic]

Nouriel Roubini: Worst is ahead of us - Recession Will Last At Least Two Years

15:41 EST Wednesday, Oct 22, 2008

Nouriel Roubini, the New York University professor who has emerged as one of the leading commentators during this financial crisis, continues to say frightening things. His latest comments, made on CNBC, give a good overview of why markets have been roiled lately by economic news.

“The worst is still ahead of us,” Mr. Roubini said, noting that the flow of macro-economic news over the next several weeks and months will be worse than expected.

He believes that there will be a sharp decline in earnings, and not just for financial firms. Emerging markets, he said, will fall into crisis. And hundreds of hedge funds will close down, putting additional pressure on the stock market as they liquidate their positions, and making cash the best possible investment.

Yes, recent government actions have probably averted the risk of a systemic financial meltdown. But the risk of an L-shaped recession, where two years of economic contractions are followed by a lengthy period of subpar growth, is realistic. And that doesn't just apply to the United States, but to all developed economies, including Canada.

As for commodities, including oil, expect another 20 per cent slide.

Mr. Roubini is not uplifting, but you can't look away.

CNBC/The Globe & Mail

http://www.cnbc.com/id/27321400

LaoPo

Mr. Roubini certainly is correct about Oil going to $50/bbl and about the masive hedge fund liquidation (which in turn will give up some of the best equity bargains in the past 50 years ), but I doubt the recession will last two years, especially with all of the government intervention worldwide

Ok so who should we listen to more - Professor Nouriel Roubini or Professor Vegas Vic....

You should listen to (and I might ad should HAVE listend to) both of us as we are on the same page except perhaps for the actual duration of the recession! Prof. Roubinis own words "As for commodities including Oil, expect another 20% slide" sure sounds like the drum that I have been banging on for the past 6 months I am familiar with the good Professor and he is usually overly pessimistic and does not factor in the resilience of the U.S. economy, with that said I would describe this recession as more of a backwards J instead of the L that he has advaocated, this will not be a replay of the 1970's but I agree that this will continue through most of 2009!

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

[AlexLah]

You US people are brainwashed too much already.

Have a good time.

[VegasVic]

You US people are brainwashed too much already.

Have a good time.

Poor Alex, You know life is so much more enjoyable when you can see the glass of water as half full and not half empty, you really should try it sometime

[Bizz]

Quoted on bloomberg also this morning

Nouriel Roubini's Global EconoMonitor

We're seeing the beginning of a run on a big chunk of the hedge funds,

'' and ``don't be surprised if policy makers need to close down markets for a week or two in coming days,'' he said.

€ has broken the €1.28 now €1.2766

£ testing £1.6025

[Ricardo]

You US people are brainwashed too much already.

Have a good time.

Poor Alex, You know life is so much more enjoyable when you can see the glass of water as half full and not half empty, you really should try it sometime

But who can afford to drink water, these days ?

[Naam]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

[VegasVic]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

[VegasVic]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

As a new McCain supporter I thought you might want to know that the most recent polls are now showing Obama even to 3%pts ahead, so it looks like the race is tightening up quite nicely, despite Obama outspending McCain on television ads by a 4:1 margin!!!

[lordofdelusion]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

As a new McCain supporter I thought you might want to know that the most recent polls are now showing Obama even to 3%pts ahead, so it looks like the race is tightening up quite nicely, despite Obama outspending McCain on television ads by a 4:1 margin!!!

BULLFEATHERS!!!!

http://www.electoral-vote.com/

http://www.realclearpolitics.com/epolls/ma...bama_vs_mccain/

http://www.usatoday.com/news/politics/elec...oll-tracker.htm

In the words of the legendary WHO, "we won't get fooled again"!!!!!!!!!!!!

[Naam]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

i'm not in the mood for splitting hairs Vic. reason: i am waiting impatiently that Mrs Naam is doling out my late afternoon drink. right now she's hiding incommunicado in her bathroom behind three locked doors. but i'll give her another 4 minutes and 30 seconds before i... play with the dog out of desperation

[VegasVic]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

i'm not in the mood for splitting hairs Vic. reason: i am waiting impatiently that Mrs Naam is doling out my late afternoon drink. right now she's hiding incommunicado in her bathroom behind three locked doors. but i'll give her another 4 minutes and 30 seconds before i... play with the dog out of desperation

If I were you I would play with the dog or with your wife, but whatever you do definately have that drink and stay away from the television. I have a feeling that today will go down in history as Black Friday

[jcon]

I wish Bingo had been a bit more eloquent in his posts, then maybe the thread would have played out as a more informative discussion without the name-calling. He would have had more credibility and thus maybe some would have looked into what he was trying to say (myself included).

Lest I be called "bingo" by LaoPo was it, I'm not bingo. I did not like his style of posting, it was rather childish but when all was said and done, well we all know how it all played out (and LaoPo, yes, I'm sure you'll point out your 'watch your steps at the set' thread that was 1 millesecond before Bingo's thread, ok points to you but nobody here was as adamant as he was as to what was to happen).

As far as bingo's last 'advice', I did go long the yen. That doesn't make up for the other hits I took elsewhere!

I read this thread all the way through some time ago, and someday in the future this thread would be an interesting read again.

VegasVic, you're now a republican?

[Naam]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

i'm not in the mood for splitting hairs Vic. reason: i am waiting impatiently that Mrs Naam is doling out my late afternoon drink. right now she's hiding incommunicado in her bathroom behind three locked doors. but i'll give her another 4 minutes and 30 seconds before i... play with the dog out of desperation

If I were you I would play with the dog or with your wife, but whatever you do definately have that drink and stay away from the television. I have a feeling that today will go down in history as Black Friday

a look at the futures in NY confirms your feeling. we should be all happy if only today is called "black friday" but i have that uneasy feeling that more black fridays will follow. not to talk about future black mondays, black tuesdays, black wednesdays and black thursdays which are in the offing

[VegasVic]

One footnote to the above post, should the U.S. elect Barrack Obama President, and Nacy Pelosi and Harry Reid get their wish with tougher trade policy then this worlwide recession could possibly last 2 years and the good Professor might wind up being right on that particular count

correct! the only way to get ouf of this mess is to elect the war hero of the Hanoi Hilton McCain (quote: "one hundred years of war if necessary!"). U.S. industry will crank up and build cruise missiles, cluster bombs, bunker busters, landmines, F15, 16 and 18, those who are jobless will have jobs again, buy houses and all kind of products from China. and everybody on this planet will live happily ever after.

Now you got it Naam! Its good to see that you have come around to the right (sorry for the PUN) way of thinking And no, Sen. McCain did not say one hundred years of war if necessary, what he did say is that the U.S. could have a prescence in Iraq for quite some time just as we have had a prescence in Germany and Japan and Korea for quite some time, and when the reporter badgered McCain further as to just how long quite some time might be McCain blurted out a hundred years! See now it really isn't so difficult to put things in their proper perspective

i'm not in the mood for splitting hairs Vic. reason: i am waiting impatiently that Mrs Naam is doling out my late afternoon drink. right now she's hiding incommunicado in her bathroom behind three locked doors. but i'll give her another 4 minutes and 30 seconds before i... play with the dog out of desperation

If I were you I would play with the dog or with your wife, but whatever you do definately have that drink and stay away from the television. I have a feeling that today will go down in history as Black Friday

a look at the futures in NY confirms your feeling. we should be all happy if only today is called "black friday" but i have that uneasy feeling that more black fridays will follow. not to talk about future black mondays, black tuesdays, black wednesdays and black thursdays which are in the offing

You could be right! The S&P is already limit down in the futures and the DOW seems to be as well Today could be hedge fund capitulation day, and it couldn't happen to a nicer group of fellas I smell bargains coming around the corner!