The Financial Crisis Support Group

the government may be receiving less, but i suspect the politicians over the years that allowed this all to unfold have amassed personal fortunes.

i wonder what the ken burns and david mccullah (sp?) of a hundred years from now will write about us.

the great sellout of the american people to corporations.

wow. an unbelievable correction is coming.

Faithfull777,
They will right very little about the rip offs, except in a few non mainstream books.
Read - A Peoples History of The United States, by Howard Zinn.
What we have been seeing is nothing new. The thing that mainstream historians don't like to mention is it always takes the American people fighting back against the corrupt banks and corporations. It is people like you and me that puts them in their place, not a politician.

Yes, I love that the Republic Window employees are fighting back and having an old fashioned non-violent sit in. We need more of that across our country. We've had enough of the corporate bs.

Wow. Thats amazing. How long do you give this type of debt financed consumer driven economc model. Surley its got to BURST sooner or later.
In my country Australia, our politicians are currently debating CEO remuneration packages as some of the remunerations for outgoing CEO's in the mining industry over the last year have been disgusting and all a result of a cyclicalspike in resource commodity prices and the subsequant spectacular rise and fall in share prices has had nothing to do with company CEO's at all. Some of them recieved 10 million plus in share rights issues. The debate is that CEO's need to be held acountable for their policys they implement by limiting their ability to sell their bonus entitlments in the form of shares in the company. A minimum limit of 5 years post resignation is being concidered. Its only tokin I know because as soon as they change the rules CEO's etc will find the next loophole, weak spot to abuse.
The thing that gets me is that all these Governments around the world are rushing to throw money at economic problems. From a technical perspective we are currently in a complex corrective fourth wave (elliot wave pattern) the correction looking like a minor rally to the upside in the larger pattern to the down side. This minimum 5 wave pattern began with the turn in the markets in Sept Oct last year 2007. Bearing in mind that financial markets are always FORWARD LOOKING, this means that the real finacial economic impact are only just BEGINING to be felt, yet Governments all around the world are exhausting their financial capabilitys at the beginning of the game. To illustrate the analagy I use is with 1929. In 1929 there was 42% fall on the DJIA from 370 to 198 points followed by a rally for 9 months then a two and a half year slide that wiped 250 points of from 290 down to 40 points. Technically this pattern that followed the 1929 retrace was a 3,3,3 to the upsideof April 1930, followed by (3,3,3,5,3,3,3)symetrical pattern to finish at a low of 41 points in July 1932. While its true that centeral banks were established after the great depression in the 1930's in a responce to attempt to avoid such a similar scenario, I do not place any trust at all in current centeral bank policyies which got us into this mess in the first case. Further our dumb Governments are spending all their monetry capacity and we arnt even through the first innings of a nine innings game. Its insanity.
I fully beleive that 1930/31/32 financial conditions can still eventuate centeral banks or not. Even though it sadens me I can understand why so many people in the US have weapons hand guns and rifles etc and intend to use them for self defence.
I beleive like Obama said its going to get a whole lot worse before it gets better.
I think its the 1930 all over again.
Thank goodness farmers dont use disk plougs the way they used to, thankgoodness the US is not in the grips of a droudt like it was in the Depression years.

Ali5stair,

You have so much technical knowledge on patterns. Your explanations goes way over my head. Can you explain it in simpler terms?

Have a look at my photos. Ive put one there called "DJIA 1921 to 1932".
Print it out and see if you can find the two double tops 180 days apart that preceded both the 26 to 29 boom and the end of the 29 to 32 bust cycle. The first higher trough which signaled the end of the bear run from sep 29 to march 33 was exactly 180 weeks long, just like the 180 week long rally from the april 26 trough to the sept 29 peak.
Even though I failed pure maths I excelled in applied maths I love patterns, my brain tthrives on them. thats why I love the aplication of technical analysis. Seveal of my Technical Analysis buddies and I could see this massive correction coming two years in advance. I have hundreds of emails to validate this claim. I was daily watching the HongKong Stock Exchange Index (HKSI) as the leading beacon to indicate the turn in the markets globally and publically called the turn to within 30 points on a 30,000 point index and within 3 hours of the actual turn.
I was very satisfied with the call. My wife remembers it well because there was absolutly no infomation to sugest that the market was changing sentement at the top but I got it, I think its just an intuative thing from looking at charts for so long. I told my wife that the HKSI was at the top of the Eifle tower and what goes up must come down and that it would end up looking like the eifle tower and sure enough it does. Patterns are fun.
Al

Ali5tair,
I share your view of patterns.
The riots and protests in Greece has spread to Turkey, Russia, Germany, Spain, The Netherlands, and many other places in Europe.
One other scenario I can see is a global version of Russia in 1917. All of the financial help is going to rich people, while there has been a global attitude to working people of "Just let them eat cake". Since this is a global economy, there could be a global uprising. The need for economic justice is going to be more motivated than ever.
What will you be doing when people are taking it to the streets?
Will you be with them? Will you be against them, or will you just stay low profile?

This is just my reply to a very distinguished person here on DS who went on to call me a “CLOWN” and that my “HEAD WAS FULL OF HELIUM AND NEEDED AN EXAMINATION”. On the 2nd of July 2009 I had predicted a very sharp rise of the DJIA (from the 13th of July) and consequently the global stock indices. One click on this link will tell you all how my prediction went http://www.bloomberg.com/apps/cbuil... On the 10th July DJIA closed at 8146.2 points and after two holidays of Sat. and Sun it was on fire from Monday as per my prediction which was based on a very strong intuition.

And please let me clarify that I am not a PUNTER as Mr. Ali5stair perceives me.

I have been gifted with a unique THIRD EYE called intuition which overshadows all technical perspectives, patterns and studies and rararara ……………………….

I am sure people out here would agree that DS is a platform to express our views and NOT to attack people with personal comments. I request these people to kindly refrain from posting cheap personal attacks.

I do not want to hear any GRANDILOQUENT statements on PATTERNS when none of them works in these tricky and hard times.

Mr. Ali5stair do you have anything to say on this pin point accuracy of my prediction which was in total contrast to your very deep study of technical patterns. ~ ATM

You go ATM!!! I think you're brilliant...and...I took your advise...tanks buddy...

if I behave like our goverment, i end up bailing out via bankrupcy or living on the street, if i behave like many politicans, i end up either divorced, fired or in jail. public servants need to have term limits to start with, many seem to live a rather exclusive lifestyle, haw about an income limit while you hold public office. if you waant to amass millions, do it privately in a free market.