Cesarnc's market talk, gossips, rumours & fun

I don't know if they see that way. To me, they are all stuffing more and more skeletons in the closet for the next administration.

Citi's problems, as well as the Big Three's (to name a few) are not about 20, 40 or 200 billion. They have bad business that won't be fixed with cash injections.

Automakers won't make better cars and develop profitable business overnight, just because they got $20 bn. I have a friend who works for GM here. He says GM has 6 months worth of working capital. And even with the current crisis, GM's sales has grown 15% this year.

What kind of business grow 15% in one year and has cash for 6 months? Seems like GM is having extreme growth in China as well...

On banks, it's the same BS. They invested in rotten business expecting to profit roses. Yeah, roses grow in the shit. But I got news for ya: Cash doesn't.

Dow futures +151 on Citi news...

onion as good as always...

http://www.theonion.com/content/vide...the_government



also ... I got 350 pips on euro today... nice...

It's easy to see the thirst for a good entry at these levels... On stocks, currencies, commodities and all...

Dow is up 800 points since last hour of Friday...

The problem is the damn panic. It takes one Geithner and $320billion on Citi to boost 800 points.

And a bad congress session to sink 1,000

New Kids on the Block

Timothy Geithner, 47, president of the New York Federal Reserve Bank, will become Treasury secretary, and Lawrence Summers, 53, a former Treasury secretary under President Bill Clinton, will be director of the National Economic Council.Summers is also a possible successor to Federal Reserve Chairman Ben Bernanke, whose term ends in January 2010.

We DEFINITELY need a guy named "Summer" for the Nuclear Winter we got into

All thats left is that he names Lucky the Leprechaun and his pot of gold to take over Bernake's position.

Excellent article

http://www.cnbc.com/id/27888866

CEO now stands for Corrupt Embezzlement Officer.

Except for me, of course.

Dow up +475, nearly 1,000 points in 2 days...

There is nothing like a fat pocket daddy

Watch it all go away tomorrow.

Technically I am not convinced until we break out of this sideways moving rangyness. Which we are close to that. I would look for a breakout / pull back, (for longs) or if we fail to close a daily candle above resistance (for shorts) right now I am on the sidelines with a few scalps here and there.

page 911

If a good excuse is needed to sell the rally

The bailout of Citigroup may have resolved that bank's problem with toxic mortgage debt. But the rest of the banking industry is still struggling with an estimated $2 trillion of such debt.

All in all, Citi's bailout was the classic fart in the hurricane...

Paulson's and Bernanke's closet

http://images.forbes.com/images/2002...at_415x310.jpg

rogers in bloom tv saying usd being debased as world currency, blahblah...

anybody think this has merit? i actually think it does. just curious about you folks' 2 cents.

if washington thinks that a weak currency makes the US economy competitive, there is a case for devaluing it.

har har! good one.

I stopped taking the elvevator to my office - I now take the Dow!

Paulson, Bernanke Said to Unveil New Plan to Shore Up Consumer Financing

Print more money, devalue USD. Sounds like a plan to me

The U.S. Federal Reserve, in another massive life-support intervention for the U.S. financial system, Tuesday announced a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to buy consumer debt securities.

The U.S. central bank said it would buy up to $100 billion in debt issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, the government-sponsored mortgage finance enterprises.

The Fed also said it would buy up to $500 billion in mortgage-backed securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae.
The move is intended to strike at the heart of U.S. economic woes, the collapsed housing market.

My remark: Summing all the figures in this news alone, you get to $1,400,000,000,000

If you shake your monitor now, "zeros" will drop all over your room

Dow Futures +171, love'ya Bernie

http://i2.photobucket.com/albums/y28...ernie_kiss.jpg