Re: NBC: Hurrah!

You remember the quote by J.P. Morgan(I think). It basically was: If you
borrow a thousand bucks from the bank, it is your problem. When you borrow
a million bucks from the bank, it is the bank's problem.





"Zeke" <yakzoomash@xxxxxxxxxxxx> wrote in message
news:vrudndHgP-g6TG3bnZ2dnUVZ_oesnZ2d@xxxxxxxxxxxxxx
Yo Gumbo,

You ever watch Jim Rogers? He's Chairman of Beeline Industries, George
Soros' old buddy from their Quantum Fund, and most definitely *not* a
Yankee. He was on Bloomberg this morning.

You'd have loved his comments about the Fed bailing out Wall Street. He
can not *believe* we're coming to the aid of these guys; hedge funds and
Wall Street bankers! It all went to what I was saying when the subprime
crisis first bubbled up, how these guys had been taking home 50 million
dollar paychecks and telling us all how smart they were, now they've been
proven greedy & stupid, and they expect the government to step in and bail
them out? And they are! It also went to what you were saying about the
devalued US dollar and how the bond market & U.S. dollar are going to get
hit even harder, further on down the road.

He asked why won't the Gov step in and bail us ALL out when we invest
poorly? How bailing out Wall Street is more than bad economic policy,
it's bad social policy and not how a "just society" should operate. In
capitalism some people fail. We have to let them or we all fail,
downstream.

I guess for me the good news was if we go into a deep recession the price
of high fliers like AAPL & GOOG will come crashing WAY down. He said get
out of the bond market, get out of the U.S dollar, invest in Asian
currencies and commodities like cotton, sugar & coffee. Not wheat (is at
all-time high, let it consolidate). He also talked about China, the
economy (unstoppable) and the market (bubble beginning to form).

Anyway, he's on Bloomberg from time to time. On a few radio shows too.
Really interesting guy. Try to Tivo or DVR it if you can. You would get
a kick out of him, and he talks funny, y'all!

=======================================
I walk this road with a hammer and a fiery lantern
With this hand I build, and with this I burn
Bruce Springsteen






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