Sell all your Rolex's N O W !!!

[chicagowatchman]

Originally Posted by TempoKing

Would I sell my Rolex..?

We are facing a difficult winter, with citizens feeling the pressure from all sides. The problems are getting worse in every sector and there are no proposals for solutions. Indicative of this is the fact that Americans have become the most pessimistic people in the world, consumer confidence dropped and everyone is running to get their money out of the banks..why..??....The reasons are many.

Today the world is much more competitive and the U.S has to fight with its own resources in order to keep up and prepare for the future. But when we see that direct foreign investment plummeted by 64 percent last year and that the dollar took another slap in the face, in my opinion, globally in 2008 we are doing worse than the other G7 This is an unmistakable vote of no confidence in our country’s poten

The chief reasons..?
George Bush should have never become president, he is arrogant, clueless and clearly on the side of the very rich....he did admit that the very rich are his base.

These are the same problems that plague the residents of this country, who cannot opt out as easily as capital can.

When the citizens seek support against these problems, what do they see?
The government, mired in scandals (real or imagined, big and small), endless internal squabbling, its officials’ incompetence (see all Hurricanes) and the eternal fear of the “political cost” of getting anything done. The state, instead of making life easier for citizens, often functions as if its only objective is to harass people and exploit them (property Insurance tripled in Florida) . We see this everywhere, from taxation, social services, medical care, hospitals etc. Citizens enter the doors of the above, like supplicants entering the temples of bad-tempered and unpredictable "gods".

So what do they do in order to keep us from taking the streets..?
The play the terrorism fear cassete recorder so to diviate our minds from thinking clearly.

In the fields of energy, the environment and waste management what do they do..?
Just words...an endless ...blah blah blah.

But the saddest thing in America is that neither the politicians nor our intellectuals have anything to propose that might put new breath into making America the moving force of the past...the same issues...the same things, over and over, even though this leads nowhere....this phenomenon...is the product.... FOR NOT THINKING

Loneliness can be the product of the political climate. It is not just the consequence of emotional isolation and dead-ends. The citizen looks for ideas, for support, for consolation. When confidence is gone in their goverment, the sense of loneliness is unbearable.

Would I sell my Rolex watches...??? Yes....Not because of the economic crisis, but for the "chase" for getting the next collectible..
I sell on the cheap...and I will buy on the cheap.

WOW ! DO i Smell Pulitzer Prize here?

[chicagowatchman]

TempoKing
For
PRESIDENT !!!

[dro57]

Originally Posted by chicagowatchman

TempoKing
For
PRESIDENT !!!

He's got my vote

[Randy Marsh]

Originally Posted by chriseskew24

If you have the money buy,buy,buy Stocks,Rolex,and anything else your heart desires... Especially stock invest in things that make sence and ride the wave 10 years from now you will be happy you did...

Oh by the way unfortunantly i am not one of the people who will be buying , not right now anyways...

that's what I wanted to to....but if it keeps like that there will be no more stocks to buy....

[Lowflight]

Originally Posted by TempoKing

Would I sell my Rolex..?

We are facing a difficult winter, with citizens feeling the pressure from all sides. The problems are getting worse in every sector and there are no proposals for solutions. Indicative of this is the fact that Americans have become the most pessimistic people in the world, consumer confidence dropped and everyone is running to get their money out of the banks..why..??....The reasons are many.

Today the world is much more competitive and the U.S has to fight with its own resources in order to keep up and prepare for the future. But when we see that direct foreign investment plummeted by 64 percent last year and that the dollar took another slap in the face, in my opinion, globally in 2008 we are doing worse than the other G7 This is an unmistakable vote of no confidence in our country’s potential.

The chief reasons..?
George Bush should have never become president, he is arrogant, clueless and clearly on the side of the very rich....he did admit that the very rich are his base.

These are the same problems that plague the residents of this country, who cannot opt out as easily as capital can.

When the citizens seek support against these problems, what do they see?
The government, mired in scandals (real or imagined, big and small), endless internal squabbling, its officials’ incompetence (see all Hurricanes) and the eternal fear of the “political cost” of getting anything done. The state, instead of making life easier for citizens, often functions as if its only objective is to harass people and exploit them (property Insurance tripled in Florida) . We see this everywhere, from taxation, social services, medical care, hospitals etc. Citizens enter the doors of the above, like supplicants entering the temples of bad-tempered and unpredictable "gods".

So what do they do in order to keep us from taking the streets..?
The play the terrorism fear cassete recorder so to diviate our minds from thinking clearly.

In the fields of energy, the environment and waste management what do they do..?
Just words...an endless ...blah blah blah.

But the saddest thing in America is that neither the politicians nor our intellectuals have anything to propose that might put new breath into making America the moving force of the past...the same issues...the same things, over and over, even though this leads nowhere....this phenomenon...is the product.... FOR NOT THINKING

Loneliness can be the product of the political climate. It is not just the consequence of emotional isolation and dead-ends. The citizen looks for ideas, for support, for consolation. When confidence is gone in their goverment, the sense of loneliness is unbearable.

Would I sell my Rolex watches...??? Yes....Not because of the economic crisis, but for the "chase" for getting the next collectible..
I sell on the cheap...and I will buy on the cheap.

Sorry...A...But...



This mess has a BIG D after it....



But don't let me stand in the way of a good old Bush Bash

[Perdu]

Originally Posted by chriseskew24

If you have the money buy,buy,buy Stocks,Rolex,and anything else your heart desires... Especially stock invest in things that make sence and ride the wave 10 years from now you will be happy you did...

Oh by the way unfortunantly i am not one of the people who will be buying , not right now anyways...

What do I know, but we are not at the bottom yet.

[VtailFlyer]

Originally Posted by Lowflight

Sorry...A...But...



This mess has a BIG D after it....



But don't let me stand in the way of a good old Bush Bash

Don't start confusing folks with the facts!

[Mwing]

at least from what i have been told the pre-owned price of rolex, or generally luxury watches, is declining in hk. for instance, a z-series white explorer 2 complete package, mint, was for sale for 26000 hkd (3,348.36 usd) in a 2nd hand shop in mongkok, hk.

[stevemulholland3]

I will tell you what,I am feeling the effects already.
I had two customers who where actively seeking two very hard to find ,and very very expensive watches both tell me today to hold off buying if they happen to end up on the market because they are taking massive hits on the stock market.
I have potentially lost a great deal and this mess has just begun.by not passing the buy-out plan I beleive we are heading into a depression type setting(though not to the extreme of the one in the early 20th century)
god help us now.

[chicagowatchman]

Originally Posted by stevemulholland3

I have potentially lost a great deal and this mess has just begun.by not passing the buy-out plan I beleive we are heading into a depression type setting(though not to the extreme of the one in the early 20th century)
god help us now.

AMEN.....The world is watching and waiting....But time is Short

[CKay]

I will pick up a couple of Rolexes if the price softens. I am looking to invest in the stock market as well. No need to catch it at rock bottom, just near the bottom will do.

[TempoKing]

Originally Posted by stevemulholland3

I will tell you what,I am feeling the effects already.
I had two customers who where actively seeking two very hard to find ,and very very expensive watches both tell me today to hold off buying if they happen to end up on the market because they are taking massive hits on the stock market.
I have potentially lost a great deal and this mess has just begun.by not passing the buy-out plan I beleive we are heading into a depression type setting(though not to the extreme of the one in the early 20th century)
god help us now.

Originally Posted by chicagowatchman

TempoKing
For
PRESIDENT !!!

I agree............

[TempoKing]

Originally Posted by dro57

He's got my vote

I agree with you too...

[chopperboy]

Ok JJ here I come! I'm selling all my rolex watches, 9,000 acre cattle ranch, and 1,800 cows......any buyers?

[casadecamporolex]

In the enclave that I live, Casa de Campo in La Romana Dominican Republic, there is not the enormous fear that now exists throughout the USA. Many of my US friends are paralyzed with fear about the future of their businesses and their portfolios.
America leveraged its free market system with no governance, essentially building an enormous house of cards destined to fail.
Here in the DR, it is a different world. Not too much similarity in the markets either.
Plus, wealthy Venezuelans and Russians have replaced the wealthy Americans that once were here.

[Bisquitlips]

Originally Posted by chopperboy

Ok JJ here I come! I'm selling all my rolex watches, 9,000 acre cattle ranch, and 1,800 cows......any buyers?

JJ likes sheep from what I understand on this forum.

Substitute sheep for cows and JJ will role over. Throw in a Rollie and he will simply melt in the palm of your hands!

[chicagowatchman]

Originally Posted by chopperboy

Ok JJ here I come! I'm selling all my rolex watches, 9,000 acre cattle ranch, and 1,800 cows......any buyers?

How much you lookin to fetch????

[chicagowatchman]

Originally Posted by casadecamporolex

Plus, wealthy Venezuelans and Russians have replaced the wealthy Americans that once were here.

I thought the Russian economy Tanked before ours???

[Nigel Tufnel]

Originally Posted by TempoKing

I agree with you too...

Me too: President of the DNC. This reminds me of 1992 all over again, when the Democrats talked the country to think we were mired in a recession, when we weren't. Did it feel like one? Maybe, but the data didn't bear it out. Here is what is going on today in the US economy:

1) Enron collapsed, resulting in a Congress that felt compelled to "do something" in order to prevent further future calamity. What did they do? They increased regulation by passing the Sarbanes-Oxley Act, which had the effect of reducing corporate productivity and creating a windfall for accounting firms. Further, this act also changed the way assets on a balance sheet are valued, which directly affects the ability to leverage its cash.

2) A liberal initiative of providing housing for the poor, under the backing of the quasi-governmental mortgage insurers FNMA and Freddie, which essentially provided guarantees by the full faith and credit of the federal government, resulted in a boon of loans extended, where the underlying credit was poor at best. This was a matter of time, and ironically, both Bush and McCain spoke out against it several years ago, but since you were reading Time magazine and the New York Times, which never reported it, you missed it.

3) Bill Clinton signed the final legislation weakening the Glass-Steigal Act, which was enacted after the stock market crash in 1929 and the great depression. This act separated the business activities of commercial banks and investment banks.

4) Notable Democrat contributer Sandy Weill, then chairman of CitiGroup, purchased a major broker/dealer and works his friends to allow his conglomeration to continue. Now, we have banks in the capital raising business and deviating from their core business of credit and lending. The behemoth he creates, while creating great wealth for himself, never amounted to a viable and sustainable company.

5) While Obama criticizes lobbyists, the chairman of FNMA, who earned approximately $90,000,000 in the past few years, contributes six figure sums to Barack Obama, which, of course, is only reported on Fox.

6) Nancy Pelosi decides to rid the United States of oil, and declares she is going to save the planet. Sounds great, however, oil and its related 9,000 consumer products, account for 95 percent of energy in the US. More important, the United States is the only industrialized country in the world that restricts its access to energy, despite the technological progresses made in clean coal, oil shale and other promising technologies. Despite Al Gore's wishes, the US is no where near the point of flipping the switch to green energy, and despite rantings otherwise, Bush and McCain have fully supported green energy development, even though it is an economic disaster.

7) Russia, now loving its status as the number two energy producer in the world, and also now addicted to petro-dollars, siezes Georgia to secure its pipeline. Since the Democrats have weakened our President since the war, he is effectively powerless to deal with them.

8) China and India continue their massive economic build ups, similar to the US in the 1920's, where they are essentially just getting started. Does anybody in their right mind think they are going to simply stop importing oil? They will end up using ten times as much as we, each, in the very near future, and the economic implications are staggering the US economy, since our Congress doesn't want us in the oil business.

9) Speaking of big oil, based on their enormous capital costs and research and development expense, the average big oil company doesn't earn, on a percentage basis, any more than any decent old economy manufacturing company. Their operations are so large, however, finding a scapegoat to demonize helps advance the populist message of punishing those with the money, even though they create the jobs we so desperately need.

10) Back to the mortgages. The economy begins to turn, in its cyclical fashion, albeit accelerated by the oil prices as a result of the Pelosi ban on US success, mortgages, as predicted, begin to foreclose. The mark to market provisions of the modified tax code do not allow for the liquidity that out to exist, hence the problem.

11) Claiming no oversight exists, one wonders what Barney Frank, Chris Dodd, Schumer and others heading these key Congressional oversight committees are actually doing, if anything. Good question, but I have yet to see or hear it asked in the mainstream media.

12) Of course, many Americans view this as an election year cover up, after all, who wants those idiots who helped create this mess be proposing a solution? I don't.

13) So here we are, on the eve of a major election, where the President, who has kept the country safe since 9-11, and had the b@lls to take the abuse that goes with it, is blamed for all of the nation's ills, where the Congress, with one third of power Constitutionally, takes a pass. Remember, this body has an approval rating less than 10 percent. But to the average American, who doesn't want to be confused by the details, buys into the liberal BS poured down their throats day after day after day.

14) We are in problem period, but it is fixable. I would start with correcting the flaws of Sarbanes-Oxley, which has done nothing to improve American competitiveness, then move to allow the US to become oil independent. We have the oil and the technology to make it happen, all while we continue to work on green solutions, but not those that cannibalize our food supply, such as subsidized ethanol. We then provide some federal loan guarantees, but not buy up surplus valueless housing from a few institutions, with a loan upside potential to the tax payers. Paulson gets fired, Frank, Dodd et. all all step down as chairs of their committees, since they did nothing, and we let proposals like the Berkshire one to come in to acquire undervalued assets. The entities that deserve to fail should fail, including their executives.

15) In an effort to enhance productivity in the US, we change the tax code to incentivize companies to come to the US, where our labor is great, but our taxes are far too high. Money moves, and when Democrats figure this out, we will be better for it. We have to stop punishing those who are successful. Successful people buy things, build things and create jobs. Obama's plan would be the final bullet. I am sick and tired of hearing about the "George Bush tax cuts" negatively. Those cuts eliminated the burden of payment for nearly 65 percent of US citizens, the rich paid more both in terms of raw dollars and as a percentage of income than under Clinton, AND federal tax receipts were at an all time high. It works. This is not a zero sum game, and tax cuts do stimulate economic activity. Obama's gimmicky one-time payment is short term and will do nothing to grow the economy.

16) Finally, our public education system (k-12) in big cities is a failure. The NEA is solidly Democrat, and multiple examples prove that throwing more money into a broken system doesn't change the result. Our kids are falling behind the rest of the world, and after 50 years of Democrat control in most of these cities, logic would dictate that voting for the same failed party will not produce a different result this time.

Sorry, TRF, but I don't think you would be suitable for the Presidency, no offense. Had to get that all off my chest, as I have been fuming ever since this farce of a plan started in Congress.

[Singslinger]

No need to apologise, it's all good. I'm about 8,000 miles away from you and I agree with a lot of what you said. Just one question - what role do you think Alan Greenspan played in all this?

[hsung]

Originally Posted by chriseskew24

If you have the money buy,buy,buy Stocks,Rolex,and anything else your heart desires... Especially stock invest in things that make sence and ride the wave 10 years from now you will be happy you did...

Oh by the way unfortunantly i am not one of the people who will be buying , not right now anyways...

Very true ... it is all about catching the wave at the right time, except most of us become more wary about spending when the economy goes does the drain, job insecurity, etc. There is always a ripple effect when world economy is not good.

I have wondered if GM dealers who buy from AD will discount their watches when the Rolex warranty card runs out ... no?

[rpryan55]

The way I look at it is, I've got the watches I like. They're paid for. So I'll just crawl under the kitchen table with them and wait for this to all blow over......

[Felly Jr.]

Originally Posted by rpryan55

The way I look at it is, I've got the watches I like. They're paid for. So I'll just crawl under the kitchen table with them and wait for this to all blow over......

Be careful not to bang them on the legs or scrape them on the floor!

[chicagowatchman]

Originally Posted by rpryan55

The way I look at it is, I've got the watches I like. They're paid for. So I'll just crawl under the kitchen table with them and wait for this to all blow over......

I'm with you!!!

[Tombstone]

There are some great Truck deals out there if you need a truck. $42,000 Ford F-150s selling for $26,000 out the door. Wow!

[chicagowatchman]

Originally Posted by Tombstone

There are some great Truck deals out there if you need a truck. $42,000 Ford F-150s selling for $26,000 out the door. Wow!

And who will opay for the gas?????

[VtailFlyer]

Originally Posted by Nigel Tufnel

Me too: President of the DNC. This reminds me of 1992 all over again, when the Democrats talked the country to think we were mired in a recession, when we weren't. Did it feel like one? Maybe, but the data didn't bear it out. Here is what is going on today in the US economy:

1) Enron collapsed, resulting in a Congress that felt compelled to "do something" in order to prevent further future calamity. What did they do? They increased regulation by passing the Sarbanes-Oxley Act, which had the effect of reducing corporate productivity and creating a windfall for accounting firms. Further, this act also changed the way assets on a balance sheet are valued, which directly affects the ability to leverage its cash.

2) A liberal initiative of providing housing for the poor, under the backing of the quasi-governmental mortgage insurers FNMA and Freddie, which essentially provided guarantees by the full faith and credit of the federal government, resulted in a boon of loans extended, where the underlying credit was poor at best. This was a matter of time, and ironically, both Bush and McCain spoke out against it several years ago, but since you were reading Time magazine and the New York Times, which never reported it, you missed it.

3) Bill Clinton signed the final legislation weakening the Glass-Steigal Act, which was enacted after the stock market crash in 1929 and the great depression. This act separated the business activities of commercial banks and investment banks.

4) Notable Democrat contributer Sandy Weill, then chairman of CitiGroup, purchased a major broker/dealer and works his friends to allow his conglomeration to continue. Now, we have banks in the capital raising business and deviating from their core business of credit and lending. The behemoth he creates, while creating great wealth for himself, never amounted to a viable and sustainable company.

5) While Obama criticizes lobbyists, the chairman of FNMA, who earned approximately $90,000,000 in the past few years, contributes six figure sums to Barack Obama, which, of course, is only reported on Fox.

6) Nancy Pelosi decides to rid the United States of oil, and declares she is going to save the planet. Sounds great, however, oil and its related 9,000 consumer products, account for 95 percent of energy in the US. More important, the United States is the only industrialized country in the world that restricts its access to energy, despite the technological progresses made in clean coal, oil shale and other promising technologies. Despite Al Gore's wishes, the US is no where near the point of flipping the switch to green energy, and despite rantings otherwise, Bush and McCain have fully supported green energy development, even though it is an economic disaster.

7) Russia, now loving its status as the number two energy producer in the world, and also now addicted to petro-dollars, siezes Georgia to secure its pipeline. Since the Democrats have weakened our President since the war, he is effectively powerless to deal with them.

8) China and India continue their massive economic build ups, similar to the US in the 1920's, where they are essentially just getting started. Does anybody in their right mind think they are going to simply stop importing oil? They will end up using ten times as much as we, each, in the very near future, and the economic implications are staggering the US economy, since our Congress doesn't want us in the oil business.

9) Speaking of big oil, based on their enormous capital costs and research and development expense, the average big oil company doesn't earn, on a percentage basis, any more than any decent old economy manufacturing company. Their operations are so large, however, finding a scapegoat to demonize helps advance the populist message of punishing those with the money, even though they create the jobs we so desperately need.

10) Back to the mortgages. The economy begins to turn, in its cyclical fashion, albeit accelerated by the oil prices as a result of the Pelosi ban on US success, mortgages, as predicted, begin to foreclose. The mark to market provisions of the modified tax code do not allow for the liquidity that out to exist, hence the problem.

11) Claiming no oversight exists, one wonders what Barney Frank, Chris Dodd, Schumer and others heading these key Congressional oversight committees are actually doing, if anything. Good question, but I have yet to see or hear it asked in the mainstream media.

12) Of course, many Americans view this as an election year cover up, after all, who wants those idiots who helped create this mess be proposing a solution? I don't.

13) So here we are, on the eve of a major election, where the President, who has kept the country safe since 9-11, and had the b@lls to take the abuse that goes with it, is blamed for all of the nation's ills, where the Congress, with one third of power Constitutionally, takes a pass. Remember, this body has an approval rating less than 10 percent. But to the average American, who doesn't want to be confused by the details, buys into the liberal BS poured down their throats day after day after day.

14) We are in problem period, but it is fixable. I would start with correcting the flaws of Sarbanes-Oxley, which has done nothing to improve American competitiveness, then move to allow the US to become oil independent. We have the oil and the technology to make it happen, all while we continue to work on green solutions, but not those that cannibalize our food supply, such as subsidized ethanol. We then provide some federal loan guarantees, but not buy up surplus valueless housing from a few institutions, with a loan upside potential to the tax payers. Paulson gets fired, Frank, Dodd et. all all step down as chairs of their committees, since they did nothing, and we let proposals like the Berkshire one to come in to acquire undervalued assets. The entities that deserve to fail should fail, including their executives.

15) In an effort to enhance productivity in the US, we change the tax code to incentivize companies to come to the US, where our labor is great, but our taxes are far too high. Money moves, and when Democrats figure this out, we will be better for it. We have to stop punishing those who are successful. Successful people buy things, build things and create jobs. Obama's plan would be the final bullet. I am sick and tired of hearing about the "George Bush tax cuts" negatively. Those cuts eliminated the burden of payment for nearly 65 percent of US citizens, the rich paid more both in terms of raw dollars and as a percentage of income than under Clinton, AND federal tax receipts were at an all time high. It works. This is not a zero sum game, and tax cuts do stimulate economic activity. Obama's gimmicky one-time payment is short term and will do nothing to grow the economy.

16) Finally, our public education system (k-12) in big cities is a failure. The NEA is solidly Democrat, and multiple examples prove that throwing more money into a broken system doesn't change the result. Our kids are falling behind the rest of the world, and after 50 years of Democrat control in most of these cities, logic would dictate that voting for the same failed party will not produce a different result this time.

Sorry, TRF, but I don't think you would be suitable for the Presidency, no offense. Had to get that all off my chest, as I have been fuming ever since this farce of a plan started in Congress.

Very well said!

[rpryan55]

Originally Posted by Nigel Tufnel

Me too: President of the DNC. This reminds me of 1992 all over again, when the Democrats talked the country to think we were mired in a recession, when we weren't. Did it feel like one? Maybe, but the data didn't bear it out. Here is what is going on today in the US economy:

1) Enron collapsed, resulting in a Congress that felt compelled to "do something" in order to prevent further future calamity. What did they do? They increased regulation by passing the Sarbanes-Oxley Act, which had the effect of reducing corporate productivity and creating a windfall for accounting firms. Further, this act also changed the way assets on a balance sheet are valued, which directly affects the ability to leverage its cash.

2) A liberal initiative of providing housing for the poor, under the backing of the quasi-governmental mortgage insurers FNMA and Freddie, which essentially provided guarantees by the full faith and credit of the federal government, resulted in a boon of loans extended, where the underlying credit was poor at best. This was a matter of time, and ironically, both Bush and McCain spoke out against it several years ago, but since you were reading Time magazine and the New York Times, which never reported it, you missed it.

3) Bill Clinton signed the final legislation weakening the Glass-Steigal Act, which was enacted after the stock market crash in 1929 and the great depression. This act separated the business activities of commercial banks and investment banks.

4) Notable Democrat contributer Sandy Weill, then chairman of CitiGroup, purchased a major broker/dealer and works his friends to allow his conglomeration to continue. Now, we have banks in the capital raising business and deviating from their core business of credit and lending. The behemoth he creates, while creating great wealth for himself, never amounted to a viable and sustainable company.

5) While Obama criticizes lobbyists, the chairman of FNMA, who earned approximately $90,000,000 in the past few years, contributes six figure sums to Barack Obama, which, of course, is only reported on Fox.

6) Nancy Pelosi decides to rid the United States of oil, and declares she is going to save the planet. Sounds great, however, oil and its related 9,000 consumer products, account for 95 percent of energy in the US. More important, the United States is the only industrialized country in the world that restricts its access to energy, despite the technological progresses made in clean coal, oil shale and other promising technologies. Despite Al Gore's wishes, the US is no where near the point of flipping the switch to green energy, and despite rantings otherwise, Bush and McCain have fully supported green energy development, even though it is an economic disaster.

7) Russia, now loving its status as the number two energy producer in the world, and also now addicted to petro-dollars, siezes Georgia to secure its pipeline. Since the Democrats have weakened our President since the war, he is effectively powerless to deal with them.

8) China and India continue their massive economic build ups, similar to the US in the 1920's, where they are essentially just getting started. Does anybody in their right mind think they are going to simply stop importing oil? They will end up using ten times as much as we, each, in the very near future, and the economic implications are staggering the US economy, since our Congress doesn't want us in the oil business.

9) Speaking of big oil, based on their enormous capital costs and research and development expense, the average big oil company doesn't earn, on a percentage basis, any more than any decent old economy manufacturing company. Their operations are so large, however, finding a scapegoat to demonize helps advance the populist message of punishing those with the money, even though they create the jobs we so desperately need.

10) Back to the mortgages. The economy begins to turn, in its cyclical fashion, albeit accelerated by the oil prices as a result of the Pelosi ban on US success, mortgages, as predicted, begin to foreclose. The mark to market provisions of the modified tax code do not allow for the liquidity that out to exist, hence the problem.

11) Claiming no oversight exists, one wonders what Barney Frank, Chris Dodd, Schumer and others heading these key Congressional oversight committees are actually doing, if anything. Good question, but I have yet to see or hear it asked in the mainstream media.

12) Of course, many Americans view this as an election year cover up, after all, who wants those idiots who helped create this mess be proposing a solution? I don't.

13) So here we are, on the eve of a major election, where the President, who has kept the country safe since 9-11, and had the b@lls to take the abuse that goes with it, is blamed for all of the nation's ills, where the Congress, with one third of power Constitutionally, takes a pass. Remember, this body has an approval rating less than 10 percent. But to the average American, who doesn't want to be confused by the details, buys into the liberal BS poured down their throats day after day after day.

14) We are in problem period, but it is fixable. I would start with correcting the flaws of Sarbanes-Oxley, which has done nothing to improve American competitiveness, then move to allow the US to become oil independent. We have the oil and the technology to make it happen, all while we continue to work on green solutions, but not those that cannibalize our food supply, such as subsidized ethanol. We then provide some federal loan guarantees, but not buy up surplus valueless housing from a few institutions, with a loan upside potential to the tax payers. Paulson gets fired, Frank, Dodd et. all all step down as chairs of their committees, since they did nothing, and we let proposals like the Berkshire one to come in to acquire undervalued assets. The entities that deserve to fail should fail, including their executives.

15) In an effort to enhance productivity in the US, we change the tax code to incentivize companies to come to the US, where our labor is great, but our taxes are far too high. Money moves, and when Democrats figure this out, we will be better for it. We have to stop punishing those who are successful. Successful people buy things, build things and create jobs. Obama's plan would be the final bullet. I am sick and tired of hearing about the "George Bush tax cuts" negatively. Those cuts eliminated the burden of payment for nearly 65 percent of US citizens, the rich paid more both in terms of raw dollars and as a percentage of income than under Clinton, AND federal tax receipts were at an all time high. It works. This is not a zero sum game, and tax cuts do stimulate economic activity. Obama's gimmicky one-time payment is short term and will do nothing to grow the economy.

16) Finally, our public education system (k-12) in big cities is a failure. The NEA is solidly Democrat, and multiple examples prove that throwing more money into a broken system doesn't change the result. Our kids are falling behind the rest of the world, and after 50 years of Democrat control in most of these cities, logic would dictate that voting for the same failed party will not produce a different result this time.

Sorry, TRF, but I don't think you would be suitable for the Presidency, no offense. Had to get that all off my chest, as I have been fuming ever since this farce of a plan started in Congress.

Precisely the kind of dialogue we need today -let's divide ourselves into little groups, liberal and conservative, and each blame the other for the problems we have. Let's pretend that no one who is in our group had any responsibility in the creation of the current mess we're in, and that only the (Democrats? Republicans?) were the problem.

Yea. That's how we solve the problem. How we get through this. Not by finding solutions, but by placing blame. And by using simplistic views of history, economics and the media to view a complex and nuanced series of situations....

[DJF881]

Originally Posted by VtailFlyer

Agreed. This is possibly the most significant buying opportunity in our lifetimes.

The real trick is to judge the bottom of the market (any market) and buy then. Big gains are to be had in the long term.

Question is whether the bottom is at 11,000 or whether the bottom is at 8,000.

As for the Rolexes, fewer buyers are likely. Financial guys should be able to weather this because they made enough money to put some away. However, a lot of their big bonuses were paid in company stock, and they were required to hold the stock for a period of 3-5 years. Some of these guys took out loans using the stock as collateral, and now the stock is worthless and they don't have cash to pay what they owe. Those are the guys who will be selling NYC apartments, watches, cars and other stuff.

[ROLEX MAN]

Any body wants to sell a submariner for a couple of grand????

I"LL BUY!