All Forum Posts by: Don Levy

Here's the latest in the Oblama and the falling Dow.
In one of the other forums a couple of people were defending Oblama’s policies which I really hope will help this country out of the crisis its in. The main problem I have is trying to believe some of the outrageous claims hes making about what he'll be able to do.
Anyhow they said it wasn't him that was causing the stock market to tank everytime he opens his mouth. After his speech last night the Dow was down 190 points when Bernanke started testifying and only down about 25 points when Bernanke finished. Then Oblama gave a press conference about what he and Geitner put together. This was about 15 minutes before the close of the market and the Dow went down 55 points to close at minus 80. Who knows how far it would have dropped if the bell hadn't sounded.
This is kind of unbelievable but if you don't believe me just check the statistics of when he speaks and what happens to the market.
donrock

PS: Do you Twitter? I just joined and would like to follow and get followers that are into the internet and real estate like I am. Please follow me at twitter.com/donrock1 and I will immediately follow you. Thanks!

Welcome to the forum Steve. I imagine you got a pretty good deal on a property the the Sac area. Back before the crisis hit I was always surprised to hear how low the median price was in the Sac area.
By the way I think Roseville is one of the nicest little towns around.
Good luck,
donrock

First of all I made a mistake in my Dow figures yesterday it should have been the lowest since 1997 not 2002.

The day after Oblama sent the Dow to its worst showing since 1997 Bernanke said the right things to make the investors less worried and brought the Dow back up 236 points after the 250 point loss yesterday.
Tonight will tell the tale of whether he has learned anything in the past month or not. Some of the promises he has made are so preposterous its starting to make everyone a little nervous unless you're a died in the wool Democrat and think he can do no wrong.
I can hardly wait until the market opens tomorrow to see if I need t dig the fallout shelter a little deeper or not.
donrock

I don't know if anyone else has noticed every time Oblama speaks the Dow Jones average falls. I've been watching this for a while and the trend has been down when he talks.
For instance today he spoke twice. The first time he spoke the Dow was a minus 30. As he started speaking, it started falling and by the time he finished it was minus 75 points. It kept falling until he spoke again when it had fallen to minus 142. By the time the NY stock exchange closed it has fallen 250 points. It is now lower than anytime since October 2002.
It appears that not a whole lot of people are believing what he has to say about fixing the problems. If he doesn't hurry up and say something believable the stock market will just keep falling.
donrock

Mike I can't speak of American Express but I had a runin with BofA about 50 years ago and still bad mouth them every chance I get. It's amazing these institutions do things like they've done to you and still try to tell everyone how great their customer service is.
donrock

I gave up my RE agent license because it was a detriment to working notices of default or pre-foreclosures. Later a broker friend talked me into getting another one & working for him whiIe continuing my investing. Again I found it was not good to have a license while trying to invest so I gave it up again.
A little while later I became an appraiser which was more compatible. After 20 years of that I got a mortgage brokers license which was also better for investing.
Long story short don't get your license unless you like sitting open houses, sitting in the office answering phones and making sure everyone you talk to about a deal knows you're an agent. Its not a good way to be an investor as far as I'm concerned. Especially not right now, much better as an investor.
Good luck.
donrock
[REMOVED]

David,
It's possible you're right but I think it will only take 4 years before people realize this wasn't what they thought they were getting. Unless some smarter people emerge from the fiasco that going on we're in deep trouble and will be getting in deeper as time goes by.
donrock

That doesn't surprise me. With all the weird things that have already gone on in the White House this kind of falls in line. I imagine things like this will pop up more frequently unless by some miracle Oblamas plans work out the way they are supposed too. Probably not much chance of that.
donrock

What's the "Fairness Doctrine". What ever he does or doesn't won't surprise me a bit. He is so far in over his head it pathetic.
Hopefully he'll get some advisers that can bring him up to speed before he screws things up any more than he has already.
donrock

He doesn't have a clue. There is going to be a lot more of this type of trying to do a quick fix and screwing it up. CNBC was all over that today. It is a plan that is not going to work all that well I'm afraid. This is what happens when people elect someone who doesn't have any experience.
donrock