[Money-matters] Money Update Nov 11 2008

Tue Nov 11 17:36:52 UTC 2008

Goldman, Sachs & Co. urged some of its big clients to place investment bets
against California bonds this year despite having collected millions of
dollars in fees to help the state sell some of those same bonds.

-  <http://www.bloomberg.com/apps/quote?ticker=TOL%3AUS> Toll Brothers Inc.,
the largest U.S. luxury homebuilder, said fourth-quarter revenue plunged 41
percent as the housing and credit crisis pummeled its business. 
Homebuilding  <http://www.bloomberg.com/apps/quote?ticker=TOL%3AUS> revenue
slid for the 10th straight quarter, dropping to $691 million in the three
months ended Oct. 31 from $1.17 billion a year earlier, Toll said today in a
statement. 
``Unfortunately, the preliminary signs of stability we had discussed in
early September were upended by the past month's financial crisis,'' Chief
Executive Officer
<http://search.bloomberg.com/search?q=Robert+Toll&site=wnews&client=wnews&pr
oxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=w
nnis&sort=date:D:S:d1> Robert Toll said in the statement. Credit market
disruption has driven ``home-buyer confidence and our traffic and demand
down to record lows.'' 
The U.S. government's financial-system rescue plans are coming under
pressure as a growing array of distressed companies signal the need for
assistance.
On Monday, mortgage giant Fannie Mae said it is losing money so rapidly it
may need a cash infusion from the Treasury Department by year's end. The
funds would come from a special $100 billion pool Treasury set aside back in
September to aid the company. Fannie Mae had a loss of $29 billion for the
third quarter.

Marc's Notes: (Opinion Only)
The headlines above make me sick. Goldman was where your secretary treasurer
HENRY PAULSON came from. Crooks   all of them.
As we have said, the 700 billion was just the price of admission. Now AIG
gets TWICE as much, with BETTER terms to boot. More companies are now lining
up to feed on your tax dollars.
The BIG THREE auto makers sent their CEOS to speak with the "Mayors
Daughter" and Grandmother Nancy Pelosi and Harry Reid of Congress. The BIG
THREE auto execs are as high powered crooks as they come and know how to
deal with simpletons such as Pelosi and Reid. Case in point, 2 hours later,
the bamboozled and confused Pelosi and Reid gave them exactly what they
wanted and recommended using MORE of your TAX DOLLARS to now give to them,
saying they were an integral part of our economy. I ask, if they are going
bankrupt, can't build a good car and are burning thru 3 billion or so a
month in wasted funds, what part of that economy is it that they are such an
important part of? Not any part I want a PART in.

Companies are reeling in plummeting sales and balance sheets.  The cash
thrown at the banks and corporations is NO WHERE NEAR ENOUGH.  I keep
saying- you watch, they will require TRILLIONS MORE!     Coming back and
back again for more cash. More bailouts. Watch for bond insurers, more
banks, more non-bank companies, more pension funds, more states, more
cities, more of every kind of business and organization to make its way to
Washington for Federal dollars. (that's yours by the way).
Obama promises EVEN MORE money. More of the same debt that caused us to
arrive where we are today. It is never ending and unthinkable a few short
months ago, but now it is the norm. Bad things are on the way folks, I am
sorry to say. It can end no other way. This is an experiment that has been
tried over and over and over and over and over (get the point?).
You cannot print your way to prosperity. Bottom line. TRILLIONS are
unwinding and we don't have that much. If they print that much, the USD WILL
COLLAPSE.

What to look for:
Gold and silver will hold relative to the market and actually has performed
better then the market. Oil - ditto.
General stocks are falling apart and will continue to do so lead by
retailers. Brief rallies called BEAR TRAPS will suck in the gullible. Don't
fall for it, as you can see, the markets general direction is DOWN.
Investors will tire of this craziness and unload to sit this out. Some will
hold on and hope. These will be the most hurt. Some will sell when they
finally are down 70 %. Do not be one of these. Look for more lies or just
stupidity telling you this is a bottom or that is a bottom or there is great
value at these prices. Where have we heard that before?
Look for even more bailouts, an even bigger house bailout package (how big
can they get !), more talk of helping homeowners and stopping house prices
from falling further.
MORE PRINTED MONEY. Interest rates will climb and the US dollar will
eventually resume its fall. Pray it doesn't fall fast and hard or the end
game nears.

What to do:
Get physical gold and silver if you can (It is hard to find now so get your
orders in). Shortages of physical metal is about to get worse. Hedge your
stocks with contrary funds and foreign currency funds. Use RRPIX for
interest rate hedge. It is now moving up.  Bet against retailers.  Use bank
CDs and treasury bills and funds for most of your money. PRESERVE YOUR
WEALTH is the name of the game now.
Hold a month or 2 of cash just with lots ammo for when the Zombies come!
(Prepare for the worst and hope for the best!).
Energy, oil, gold, silver - tangibles will hold up the best in this market.
Inflation is headed our way again soon. 

Upcoming Show:
This Thursday. I will go over market action and what you should hold for
protection. Tune in- Good stuff this Thursday at noon.

All for now
Marc

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