Recently Warren Buffett said that if you wait until you hear the birds sing, it will already be spring. In other words, if the S&P 500 is forming a V formation, there will be a quick move back to the last ten years' usual price range. If the S&P falls back to 720 as it did a few weeks ago (actually 750), there's a good buy. Many people are saying that the Dow might fall to 5,000 which would correspond to an S&P of 500 (the Dow is currently 8924 and the S&P about 900 and at their heights the Dow was slightly over 14,000 and the S&P about 1480.) A number of my students are bearish. In contrast, in 2000 they were all buying Internet stocks. This is true at both Stern School of Business and Brooklyn College. Both student bodies were buying Internet stocks in 2000 and are many are talking bearish now. When I said that I bought some GE shares a number of my Stern students scoffed, saying the financial risk was too great. However, a Forbes writer, Ken Fisher, is bullish. Nevertheless, the majority of media hype has been very pessimistic. My mother, who does not invest in stocks, is extremely pessimistic. She believes that unemployment is at an all time high, forgetting that for most of my early professional life (from the time I graduated college in 1975 until the time entered the doctoral program in 1986) the current 6-7%unemployment rate was viewed as low. Howard S. Katz believes that this has been a rare, media-driven bear market. The vast monetary expansion of the past four months would seem to be a fundamentally bullish short-to-medium term phenomenon.
There is a certain illogic to the media's coverage of credit swaps. According to the media, the banks could not value the derivatives properly but invested in them anyway and now are losing their shirts. Now, they are experiencing unanticipated defaults and risk. But if they could not value the derivatives intelligently three years ago, why can they value them intelligently now?
I recently obtained a car loan for 6%. For much of my life car loans were above 10%. In 1991 I paid 11% to buy a Ford Probe. Now, I pay 6%. Does that suggest a massive catastrophe in the circulation of money?
It is difficult to grasp the current market downturn--is it purely a psychological panic, or is there something to the derivatives devaluing? Bears believe there is something, bulls (and they seem to be few right now) are skeptical. If the market decline is psychological as Howard S. Katz suggests, then spring may come in late winter.
I hold a fair amount of mining and gold stocks that have been hurt in this downturn but they went up very strongly today, about 10%. Overall, my portfolio is down about 11%, almost all of it due to the gold stocks and some commodities etfs. I have been buying stock during this downturn, though. It is possible that the Dow will fall to 5,000. In case, I am keeping some powder dry.
Tuesday, December 16, 2008
Orly Tatz Action Plan Re BO BC
Dear Mr. Langbert,
my name is Dr. Orly Taitz, ESQ. I represent 7 plaintiffs, seeking staying certification of elections, due to the fact that Barack Hussein Obama is ineligible. The case is in front of the Supreme Court of the US, Judge Anthony Kennedy. I would greatly appreciate support of all your readers. they caN GET MORE INFO ON DRORLY.BLOGSPOT.COM
Orly Taitz DDS Esq
According to the D Orly Tatz website :
>Urgent! What needs to be done now
There are a number of things you can do:
1. write to all 9 US Supreme Court justices in support of Lightfoot v Bowen, docket number 08A524
2. become a correspondent on my blog drorly.blogspot.com After you write an article call Bob Stevens (641--715-3900, ext 50926) or e-mail him at hound9_9@yahoo.com He can put your articles on the blog.
3. Very important!!! write an open letter to US att in Illinois Patrick Fitzgerald, cc US att in DC Mike McCuskey, cc General Director of FBI, cc FBI in all the states and demand immediate indictments of Obama on massive fraud for following reasons:
a. he is not a natural born citizen (his father was a foreign subject, he doesn't qualify as a natural born, since both parents have to be citizens at the time of the child's birth in order to qualify as a natural born citizen, see Law of Nations ), he became a candidate on the ballot by fraud
b. fraud committed in collecting $650 million under false pretenses
c. lying under oath while being sworn as an attorney in Illinois (stated that he had no other names, concealed his identities, since he went by Barry Obama and Barry Soetoro)
d. Contact the FBI and US attorney's office, and assert that they need to investigate immediately expert reports showing that his selective service certificate is forged
e. Instruct the FBI and US Attorney's office that they need to subpoena his original birth certificate and investigate reports that the short form "certification of live birth" that Obama presented to the public appears to have been altered, fake or "forged".
f. The FBI and the US Attorney's office needs to subpoena medical records, coroners reports and death certificates for his grandmother Madelyn Dunham and has mother Stanley Ann Dunham (aka Obama, aka Soetoro, aka Sutoro aka Anna Toot) and investigate why the mother's deceased social security number 535-40-8522 shows as active as late as 2006, when she allegedly died in 1995. It shows 2 addresses in HI and 2 addresses in NY.
Please call FBI and US attorney's office and demand daily updates, as to when the indictments will be forthcoming. Those have to be issued ASAP, before Jan 20, 2009. You should also contact your state attorney general's office.
4. you can forward my pleadings in Lightfoot v Bowen and footage of 12.08.08. press conference at the National Press club to all the congressmen, senators, media and your friends and family. Thank you for willingness to help.
Contact Information
United States Attorney's Office
Northern District of Illinois, Eastern Division
219 S. Dearborn St., 5th Floor
Chicago, IL 60604
Phone: (312) 353-5300
United States Attorney's Office
Northern District of Illinois, Western Division
308 W. State St., Ste 300
Rockford, IL 61101
Phone: (815) 987-4444
Correspondence to the Department of Justice, including the Attorney General, may be sent to:
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
BY E-MAIL:
E-mails to the Department of Justice, including the Attorney General, may be sent to AskDOJ@usdoj.gov.
For the Illinois Attorney General, addresses and phone numbers are here. You can email the Illinois Attorney General's office by using this contact form.
Contact the FBI.
Dr. Orly Taitz, DDS Esq
my name is Dr. Orly Taitz, ESQ. I represent 7 plaintiffs, seeking staying certification of elections, due to the fact that Barack Hussein Obama is ineligible. The case is in front of the Supreme Court of the US, Judge Anthony Kennedy. I would greatly appreciate support of all your readers. they caN GET MORE INFO ON DRORLY.BLOGSPOT.COM
Orly Taitz DDS Esq
According to the D Orly Tatz website :
>Urgent! What needs to be done now
There are a number of things you can do:
1. write to all 9 US Supreme Court justices in support of Lightfoot v Bowen, docket number 08A524
2. become a correspondent on my blog drorly.blogspot.com After you write an article call Bob Stevens (641--715-3900, ext 50926) or e-mail him at hound9_9@yahoo.com He can put your articles on the blog.
3. Very important!!! write an open letter to US att in Illinois Patrick Fitzgerald, cc US att in DC Mike McCuskey, cc General Director of FBI, cc FBI in all the states and demand immediate indictments of Obama on massive fraud for following reasons:
a. he is not a natural born citizen (his father was a foreign subject, he doesn't qualify as a natural born, since both parents have to be citizens at the time of the child's birth in order to qualify as a natural born citizen, see Law of Nations ), he became a candidate on the ballot by fraud
b. fraud committed in collecting $650 million under false pretenses
c. lying under oath while being sworn as an attorney in Illinois (stated that he had no other names, concealed his identities, since he went by Barry Obama and Barry Soetoro)
d. Contact the FBI and US attorney's office, and assert that they need to investigate immediately expert reports showing that his selective service certificate is forged
e. Instruct the FBI and US Attorney's office that they need to subpoena his original birth certificate and investigate reports that the short form "certification of live birth" that Obama presented to the public appears to have been altered, fake or "forged".
f. The FBI and the US Attorney's office needs to subpoena medical records, coroners reports and death certificates for his grandmother Madelyn Dunham and has mother Stanley Ann Dunham (aka Obama, aka Soetoro, aka Sutoro aka Anna Toot) and investigate why the mother's deceased social security number 535-40-8522 shows as active as late as 2006, when she allegedly died in 1995. It shows 2 addresses in HI and 2 addresses in NY.
Please call FBI and US attorney's office and demand daily updates, as to when the indictments will be forthcoming. Those have to be issued ASAP, before Jan 20, 2009. You should also contact your state attorney general's office.
4. you can forward my pleadings in Lightfoot v Bowen and footage of 12.08.08. press conference at the National Press club to all the congressmen, senators, media and your friends and family. Thank you for willingness to help.
Contact Information
United States Attorney's Office
Northern District of Illinois, Eastern Division
219 S. Dearborn St., 5th Floor
Chicago, IL 60604
Phone: (312) 353-5300
United States Attorney's Office
Northern District of Illinois, Western Division
308 W. State St., Ste 300
Rockford, IL 61101
Phone: (815) 987-4444
Correspondence to the Department of Justice, including the Attorney General, may be sent to:
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
BY E-MAIL:
E-mails to the Department of Justice, including the Attorney General, may be sent to AskDOJ@usdoj.gov.
For the Illinois Attorney General, addresses and phone numbers are here. You can email the Illinois Attorney General's office by using this contact form.
Contact the FBI.
Dr. Orly Taitz, DDS Esq
Arson You Can Believe In
The following appeared in Newsmax:
>Gov. Sarah Palin's home church was badly damaged by arson, leading the governor to apologize if the fire was connected to "undeserved negative attention" from her failed campaign as the Republican vice presidential nominee.
Damage to the Wasilla Bible Church was estimated at $1 million, authorities said Saturday. No one was injured in the fire, which was set Friday night while a handful of people, including two children, were inside, according to Central Mat-Su Fire Chief James Steele.
>Gov. Sarah Palin's home church was badly damaged by arson, leading the governor to apologize if the fire was connected to "undeserved negative attention" from her failed campaign as the Republican vice presidential nominee.
Damage to the Wasilla Bible Church was estimated at $1 million, authorities said Saturday. No one was injured in the fire, which was set Friday night while a handful of people, including two children, were inside, according to Central Mat-Su Fire Chief James Steele.
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