Captain Clueless is speaking and the market is going up…

Which proves there are a lot of stupid people out there.
Freaking NEWSFLASH: Hey Captain O, you can do all the touchy feely include-people-by-name blah blah blah, and it does not change the fact: getting loans is number 2 in the line of problems for small business. Number 1 is problem getting customers to spend money. I can borrow money and hire a couple more people. What are they going to do? Dust shelves? Look at each other? Stand around? Captain O can spew his self-righteous indignation, but the fact is, we have a bad situation and he is still clueless. Here’s a guy who never studied economics, never ran a business, never met a payroll. But he thinks he is an expert. Pathetic.

Are you in a good mood? Let me fix that…

As you may or may not know, I am a daytrader.  I have made a considerable amount of money this last year shorting the market.   (That means essentially betting that the value of a stock or index will go down.)   Several weeks ago, I noted that I was expecting a sizeable bear market rally, in which most stocks (all of which are severely oversold) would go up.    This would be a wonderful time to get out at a SMALLER loss.  Well, this rally has not materialized yet.   I am hoping for a rally for the sake of many of my friends who DID NOT LISTEN TO ME when I told them to get out and stay out of the stock market two years ago. 

http://market-ticker.denninger.net/archives/852-Whats-Dead-Short-Answer-All-Of-It.html

Read this article.   BELIEVE this article.  Why do you think the shelves in gun stores are empty?  You think it can’t happen here?   If you live in the snow belt, think about this:   what happens whenever the weather channel says a blizzard is coming?   Right…the supermarket shelves are emptied.    Hurricane Katrina:   rioting, looting, panic, despair.  Think ahead and don’t be part of the problem. 

I told my compatriot Rogue Jew that I was out of the country.   I was scoping out a location for a second home, offshore.  THAT’S how worried I am.

Back to the stock market.  I used to manage other people’s investments until I got tired of phone calls every five minutes.  I am still in touch with a few of them.   I have told one fellow in Boston that when gold stocks correct, I will buy more NEM, AUY and PAAS. (Note:  these may not be the best gold and silver stocks, they are just the ones I trade day in/dayout.)   I don’t expect a big correction in mining stocks.   I have a couple of acquaintances who are coin dealers.  They cannot get their hands on any gold, and not much silver.   Maybe we will have a 1000 point rally in the Dow.   If we do, it will be temporary.   We have not seen the end of the beginning of this disaster…next will be the commercial real estate disintegration.

If you aren’t suicidal yet, listen to this.  I have a friend Nelson who was a wildly successful real estate broker.  He made $300,000 a year and spent all of it.  Today he is driving a limousine for $6.00 an hour plus tips.   If I were selling life insurance and Nelson walked into my office, I would think twice before selling him a large term policy.

Best wishes…Pascobear

PS.  Remember, every Jew needs a valid passport, ready cash and a gun.

Suze Orman, Money Yenta

Heard Suze Orman admonishing a fan to stop hoarding cash under the mattress and get to the bank PRONTO and deposit said cash in an FDIC-insured account.  Typical mainstream thought process.  Bank insured.  Bank safe.   Hmm, me put money in safe bank, everything okey-dokey.

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=alsJZqIFuN3k

FDIC could be insolvent by end of year?  Who you kidding, it’s been insolvent since the get-go.   As far as dealing with the FDIC, do I want to deal with a bureaucracy that makes it as hard as possible to get to my cash?  The mattress is looking pretty good.  And the way our clueless president is printing and spending, what will my money be worth if and when I ever get it?   I put a check for $11,000 in Bank of America a couple months ago, and had to wait almost 2 weeks to withdraw all of it.  Yes indeedy.

What if?  What if there is a systemic crash and you can’t get money from the ATM?  Can I call Suze Orman?  Will she cash my personal check til I can get to my moola? 

By the way, I admire Suze Orman.  She has a way of getting across to her viewers that they should be making better decisions with their money.

Muslim prayer in NJ school

How precious.  The same  ACLU liberal types who go batty at the mere mention of the word “Christian” or “Jew” are now bending over backwards (and frontwards) to accomodate Muslims.

http://www.northjersey.com/news/aroundnj/Wayne_super_stands_his_ground_on

on_Muslim_prayers.htm

Now, what I would love to see, since it would drive Muslims insane, is Jewish and Christian kids at this school insisting on the same right to pray, and then DOING IT, every day, visibly.   Hey, if the school can accomodate a Muslim kid, then let’s give them a dose of their own medicine. 

If the school objects, SUE the S.O.B.s.  When Muslims start with their incrementalist crap, we have to let them know we are not going to adapt to them.

Hey, this stupid speech pre-empted “The Mentalist”…

Well, Obama is still preaching to us peasants. I tivo’d the speech, figuring I would count the cliches, but decided he isn’t worth it.

Is there anything in our lives that he is not going to build, buy, tax, cure or revamp? I watched him smile and schmooze, I watched all the dems pat themselves on the back and appaud the messiah and themselves. I realized that the Republican party is way deeper in the tank of oblivion than I previously thought. I watched Obama talk and thought, “Gee, too bad he isn’t a conservative.” But the problem is, like strict parents, a conservative politician has to tell constituents that they cannot have everything they want, that some things are bad for them. Here’s where we lose. Since FDR, the self-reliance of America has been eroded by handouts from pols (mostly dems, but republicans too). Once a welfare program starts, we all know it doesn’t go away, it just gets bigger. So 65 million voters went for the party of more spending. What chance do we have? There is an answer, which I will write in my next post. There are tens of millions of conservatives in this country who see things differently. However, there are tens of millions of people who do not look past the rhetoric. These are the ones who will start seeing things differently when the next pile of you know what hits the fan….

Octuplet Idiocy

A California woman, Nadya Suleman, gave birth to octuplets last week. She was impregnated by in vitro fertilization. The eight newborns join their six older siblings, mother and grandparents in a three-bedroom house. One article described the unwed mother as having a pathological need to conceive. Well, call me a hard-hearted cynic, but I think she decided to carry out this stunt (yes, stunt) in order to make the headlines and gather in all the goodies…you know what I mean–some good-hearted person would donate a nice, new big house, and friends and relatives would come over and take shifts caring for the infants. Companies would donate diapers and formula, baby food and cribs. Some magazine would pay millions for the exclusive right to follow the babies’ first years…Hey, anyone out there ever hear of PERSONAL RESPONSIBILITY? I am not just talking money here. But wait, let’s talk money for a moment. You have a husband, the two of you want to raise fourteen kids, mazel tov. You pay for it, I don’t care. For those who say we have too many mouths to feed in this country already, I say as long as the government keeps bringing in tens of thousands of Somali immigrants who burden our public assistance programs, I can’t get exercised about Americans who have a dozen kids and pay for these kids themselves. As far as the social aspect…These kids have no father. This irresponsible asshole has brought fourteen children into the world for her own selfish gratification. Who is going to teach the boys to be men? No father around. Hey lady, did you ever give a thought to what was right for the children? What kind of life are they going to have with no dad and a moron mother? Freaking pathetic. Sounds judgmental? Good. It’s time people started saying “This isn’t right.”

Brad Thor sums it up in two paragraphs…

I am reading “The First Commandment” by Brad Thor.  Can I frame the following two paragraphs and send them to every bleeding-heart moron in this country?

…This was America, after all, and it had already done its worst to him in Guantanamo.  Catching him here on their own soil, they would do even less.  That’s how easy they were to exploit.  They passed convoluted laws that served to protect their enemies better than their own people.

When America caught its so-called terrorist enemies, it lacked the courage to put them to death.  Zacarias Moussaoui, the blind cleric Sheik Omar Abdel-Rahman, and even Ramzi Yousef were all given life sentences.  They were a testament to America’s cowardice and weakness, and the fact that it would inevitably fall to the true followers of Islam.

I sincerely hope that our country actually has operatives like Harvath and Finney, the protagonists in this excellent book.   Even if we do, we are in deep you-know-what.

Speaking of deep you-know-what,  our dear president today said that the stimulus package is just one leg of a three-legged stool.   Well, he got the stool part right.  The stimulus package is one big pile of …

Shalom.   Pascobear.

Barbaric Behavior

A quickie comment. I was guilt-tripped into attending a birthday party for a one-year-old. Yes, they had liquor for the big people.
Anyway, the mother of the birthday child (a relative) a liberal Jewish schoolteacher (who would have guessed?) was opining on the preservation of the Sacrament of Abortion, now that the Obamessiah is president. All her teacher friends vigorously agreed. Half an hour later, speaking of a co-worker who just had a baby, “F***e is nursing little Sascha. How barbaric.” Now let me see if I have this right, abortion is normal but nursing a baby is barbaric. And they freaking wonder why people home-school their kids.

Sunday night thoughts

Had a funeral this week.  I saw a lot of friends, you know how it is, the older you get, the more people you know, and a lot of them you see only at weddings and funerals.   One particular guy I spoke to is now retired from a federal law enforcement agency.   He prefers not to be named or have his agency identified.   The last time we talked shop was in late 2000.    He had been working on a high-profile case which had resulted in the perp going to prison for life.   At that get-together in 2000,   I asked him what big thing he was working on now that the **** case was finished.    He replied, “Terrorism.”   At the time I thought,  “Big yawn.”

Well, last week, we spoke again.  I reminded him of our conversation concerning terrorism.  He has since retired, but keeps in touch with his buddies.   I asked him what he would do if he were head of the agency he retired from.    His answer was to the point:  stop immigration into this country.  We have to sort the good guys from the bad guys.  Also, our schools are so vulnerable.   He pointed out that the tragedy in Russia back in 2004 could happen anywhere.   Who is going to stop an attack like that, the receptionist? There was more, but for now, this is all I am prepared to write until I run it by the Head Rogue Jew.

The stock market…as you may or may not know, I am a daytrader.  I don’t care if the market goes up or down, I go long or short, makes no difference to me.  I don’t fall in love with stocks, I just sniff out opportunities like a boar sniffs out truffles.

On Friday, I was long a lot of gold and energy stocks.    I had a profitable  week, considering the funeral and other problems that popped up.   Now,  the market is extremely oversold, which means we should be getting a bear-market rally, a dead-cat bounce (that’s what it is called, I didn’t make it up).   But I got this sick feeling in the pit of my stomach, as if subconsciously my brain was telling me ‘Danger Ahead.’   So I liquidated everything and went to cash, and shorted the market.   An hour later, a friend of mine phoned and said, “You know, I just wasn’t comfortable with the market action, I went to cash.”   So his subconscious agrees with mine.    Now watch the market get that short-seller covering rally and go up 500 points tomorrow and make me look like a monkey.

What’s this have to do with liberalism?    We are headed for big trouble.  Three more US banks have failed since the beginning of the year.    Stimulus package?   Uh, hellooo, throwing money at a problem will work only until the problem goes through that money and comes back for more.   Every morning, when the clock radio goes on, one hears about 3,000 or 30,000 more layoffs.   The people who worked at Circuit City last month won’t buy coffee at Starbucks tomorrow morning or eat dinner at Red Lobster tomorrow night.  It’s like the domino effect.    I heard a politician say we have to live within out means.  Whaddya  mean WE ???  Hello again,  YOU POLITICIANS need to live within your means.   Make me president, I’ll cut the federal budget by 80%.  The government and all its freaking social engineering spending is the problem.   Massive federal debt to finance all these social engineering debacles in the problem.

The housing situation is beyond words.  I took a ride with a friend who is a real estate agent.   We stopped at a house in a small development in Florida.  He said that the house was in foreclosure, they were asking 239,000 for it, and would be truly lucky to get 150,000.  He pulled up at another house, got out and righted a couple of flower pots that were lying on their sides.   “Another empty,” he said. “If someone was living there, those pots wouldn’t be lying there.”   We drove up the street and counted seven houses that showed subtle and not-so-subtle signs of abandonment.

I met another fellow at the funeral luncheon.   He just bought a condo near the beach outside of Clearwater.  At the top of the market, this particular condo was going for $299,000.   They were asking $199,000.   The woman said she would take $100,000.  He offered her $60,000 and she took it.

Another condo owner south of Clearwater told me at the same funeral they live in a 16 unit development.   The HOA (homeowners’ association) fee is $700 a month.   Two of the units are in foreclosure, several others have stopped paying the HOA fee, and they are all dragging each other to court.

My friend N. the realtor said he went to a foreclosure auction, and many of the properties, including houses, had high monthly HOA fees.    One house, which sold originally for $725,000, had a starting bid of $199,000 and an association fee of $708.   N. told me there was no way he was going to bid on a house with a monthly association fee of $708.   What if you can’t turn the house for 4 or 5 years?   That’s $708 a month and that doesn’t include mortgage, insurance or property taxes.   Everyone I know is wondering if he or she will have a job next year.   They aren’t looking to buy a house with a $700 HOA fee.  WE IS SCREWED.  People are living in neighborhoods where half the houses are unoccupied.   Now that sure does a lot for your resale value.

For your homework, check out www.prudentsquirrel.com.  I am a subscriber, but you can read his public articles for free.   I get nothing for this.  The editor does a huge amount of research.  Very informative.    Shalom, Pascobear.

Bush daughters smack one back over the net at Obamas

One segment of tonight’s NBC Nightly News was a recording of the Bush twins reading a letter they had written to the Obama girls. Now, call me conspiratorial BUT…the Bushes go on about how the Obama girls should enjoy themselves, go to openings, slide down banisters, surround themselves with pets because FOUR YEARS GOES BY SO QUICKLY!!! Note they did not say eight years….Tee hee hee.

I have been on the road this week, a lot of pressure, but I have had the opportunity to pick up some disturbing information. More on Sunday.

Obama is President

In his speech, President Obama said that we are a nation of “Christians and Muslims, Jews and Hindus…” To my liberal Jewish friends, please note that in his speech, he put Muslims before Jews. Get used to it, friends. It wasn’t an accident.

Quick thoughts on inauguration

Since the stock market is closed today, I have the luxury of watching the TV coverage of BHO ad nauseum.

This morning, Don King the fight promoter was on Fox and Friends. He commented that tomorrow, a baby will be born, a baby named ‘Hope Freedom.’ Well, Don, I can see the Hope part, but have my doubts about Freedom. BHO sort of stands for a lot of things, but freedom is not one of them. I do not recall hearing the word ‘freedom’ once during Obama’s campaigning. I will be counting the number of times it is used tomorrow in the inaugural address.

Obama was showing us how public-service-minded he is by painting a wall in a Washington DC home for kids this morning. I was especially impressed by his holding a paint roller in a $700 custom-tailored dress shirt. (Just guessing at the price of the shirt, after all…but have you seen the price of custom-made clothes recently?)

Tomorrow’s inauguration will indeed be the most joyful event in the lives of many Americans. When Obama accepted the nomination, TV cameras panned the audience at the Dem convention. I saw elderly black women with tears of unspeakable joy running down their faces. What a wonderful moment. I only wish that the man they voted for stood for traditional American values, not socialist ones.

I can see how many Americans get carried away by Obamamania. They don’t look any further for information than Katie Couric or the local newspaper. They really don’t know what Obama stands for. Someone asked me if I wanted Obama to fail. I replied that I do not want to see his ideas succeed. I don’t hate him. Look at Michelle Obama. She is gracious and pretty. But when she made the ‘first time I’ve been proud of America’ commment, my fuzzy bear ears flattened against my head. Danger warning! This is not the woman I would want to see in the White House as First Lady. That is not hatred. It is self-preservation.

Vell, they call me Pascobear…

Some months ago, I was sitting on the curb in the drizzle, having a bad day.    A car pulled up along side me, and the driver rolled down his window.  

“Bear! ” he called, “do you need help?” 

“I could use a ride,”  I told him.  He opened the door and I hopped in, but not until he had thrown a jacket over the rich Corinthian leather.

“Sorry”  I muttered,  “but I have been sitting in the rain crying.”   I dabbed at my damp fur with napkins from McDonald’s.

“So sorry,”  he said,  “Have you lost a loved one?  Or have you taken a beating in the stock market?”

“No,”  I replied,   ” I was watching the presidential debates.”    He looked puzzled, so I continued.

“My friend,  do you fly your own plane?”   He nodded.  

“If you crashed your plane, how many people would you take out?  You and a passenger?  Several people on the ground, if you were not lucky? ”  He nodded again.

“You had a lot of training, a lot of studying, lots of tests, no?  You did not just get behind the whatever and start flying that plane, eh?

My new acquaintance glanced over at me.

“I was watching the presidential debates, and since I am in finance,  I realize listening to this Obama and this McCain,  that they are both CLUELESS about the economy and one of them is going to be president.  This is like flying a huge 747 with 300 million Americans on board, and the pilot has a new license and the instruction manual in one hand and the throttle of the plane in the other.    Send me Lee Iacocca, send me  Jack Welch, send me Meg Whitman, send me Carly Fiorina, send me SOMEONE who has actually run a company, someone who knows money does not grow on trees.  Someone who knows that if the government doesn’t have enough money, it isn’t because taxes need to be raised, it is because the government is SPENDING TOO MUCH!!!!”

“Let me introduce myself,”  said my driver companion,    “I am known as the Rogue Jew, and I spend my life writing what people need to understand.”   

“I am Pascobear,”  I relied,  “the ‘bear’ part the English translation of my Hebrew name.”

“That’s funny,”  he said,  “you don’t look Jewish.”

We stopped at an Irish pub and had a brew.   I told him Michelle had just written something fascinating.

“Michelle Obama?”  he asked.

“Heavens, no!  Michelle MALKIN!…The only reason I read Michelle Obama’s college thingy was because I was doing 85 mph in Alabama.”

“You lost me.”

I continued,  “I went to court and to teach me a lesson, the judge gave me a choice: pay a big fine and write a book report on Michelle Obama’s college dissertation, or go to jail.   So I got to about the 19th page  of the dissertation and phoned the judge.  I asked him ‘Excuse me, your honor, but…how much jail time were we talking here?’ ”

The bottom line is,  the original Rogue Jew has invited me, Pascobear, to contribute to this blog.  My sincere thanks.  As I mentioned earlier, I have a financial background, taught school briefly, have owned several successful businesses.   By occupation, I am a daytrader.  The two areas which I am most passionate about are the financial and idealogical direction of this, our beloved country, and the threat of Islam fanaticism, which goes unreported in the mainstream media worldwide.    For your homework,  read “America Alone” by Mark Steyn, and jihadwatch.org by Robert Spencer.

As a child I personally knew two survivors of the concentration camps in Germany.   They had numbers tattooed on their arms.  They never talked about the horrors of their experiences. My grandmom, til she died in her late 90’s, kept in contact with relatives who had stayed behind suffering in Galicia.  We  learned about the evils of totalitarianism.  I have heard the stories, studied the pictures.     We were taught  “every Jew should have a valid passport, ready cash and a gun.”

If you have been paying any attention at all, you will have taken note of the Muslim protesters in Ft.  Lauderdale shouting “Go back to the oven.”   This is not an isolated incident.   It is time for Americans, Jewish or not, to say,  “This will not stand.”

Shalom.    Pascobear.