Forum Post: Its not that wall street didn't know they are just stupid
Posted 12 years ago on Nov. 17, 2011, 1:02 a.m. EST by flashcards
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I have been an active day trader for a long time and was posting regularly on a community form for years before the collapse. The BANKS SAY THEY HAD NO WAY OF KNOWING? Well I am no financial giant, but here is my post from 6 and a half moths before the sell off and the start of the housing crisis. I tried re-posting this on the boards there today, but was censored by the powers that be.
"Feb 2 2007 6:56PM Title: National Debt
I agree with u about the burdon of the national debt. Last year when comsumer spending was the driving force behind the inflation fears the feds raised intrest rates again and again. So y does increased consumer spending mean a raise in interest rates? If Bush would just buck up and raise the income tax rate 1% we could loose 2% in intrest that the Fed stuck on in thelast year or so, and make some money trading the Dollar.
Would also make a small dent in the defficite(but not enough).The average JO would feel better of with the tax hike due to average household debt and we all know interest rate is killing the housing market. Tax hike would have curbed inflation without penalizing business. Shurely the main concern for inflation at the moment is the low value of the dollar.Its going to be this summer before the threat is taken seriously on the floor and at that point it may be too late. CRASH!!!!! Now Uncle Ben Bern.. may raise intrest rates before then to regulate this but by that time it may all ready be too late. The extra intrest will kill a lot of households the ripples of which will be felt through the entire ecconomy. Defaults reposessions etc, but with no one to resell them to. Massive devaluation in the housing markets and short term interest crippling small business. So i ask again, why does inflation fears always spark an increase in interest rates? So look at gold, silver, uranium, and non metalic mining and tell me thats not the market over the next year.
But regardless, I feel there is no one paying attention for at least 6 months and am willing to bet the QQQQ will set records till then. OK let me know?
Oh P.S too much money was pulled out of S.America last year. markets are all looking strong"
If I could work it out SO COULD THEY....
Interesting. Now, I don't really know too much about the man so I may be talking out of my ass (if so, forgive me) but when I look at Bernake, he doesn't look like a very bright man. In fact, he pretty much looks stupid. But then, as we're all well aware, there is no direct correlation between intelligence and high political positions.
"I look at Bernake, he doesn't look like a very bright man. In fact, he pretty much looks stupid." Thank you, some one shares my opinion. Every time I look at this guy he has a blank look in his eyes it is very creepy and weird. Last time I saw him in a conference he looked and sounded like he wanted to cry, what is wrong with this man? Can some one tell me?
Exactly, a blank look. I hate to sound too judgmental, I try to avoid it. But sometimes, . . . . kind of like when I first saw dubya before 9/11. He looked so clueless I genuinely felt sorry for him.
I would have used:- "too self satisfied and sure of their god given right to more, While never stopping to question if they really had the right or ability to do what they were trying to." in place of stupid, but the title would have been way too long. I think many were just stunned at their own incompetence afterward and not willing to knowledge it simply said,
" We could not possibly have know, no one could."
they should all be fired for just being lame ass excuse makers.
Yeah. "I didn't know.' The most overused lame excuse in history. It works good when you're, like, five. When you're fifty, not so much. ;-)