Crisis may make 1929 look a 'walk in the park' (How the housing crisis will impact the world)

telegraph.co.uk ^ | Ambrose Evans-Pritchard

[2banana]

Crisis may make 1929 look a 'walk in the park'

As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control

Twenty billion dollars here, $20bn there, and a lush half-trillion from the European Central Bank at give-away rates for Christmas. Buckets of liquidity are being splashed over the North Atlantic banking system, so far with meagre or fleeting effects.

...

Glance at the debt markets and you hear a different tale. Not a single junk bond has been issued in Europe since August. Every attempt failed.

Europe's corporate bond issuance fell 66pc in the third quarter to $396bn (BIS data). Emerging market bonds plummeted 75pc.

"The kind of upheaval observed in the international money markets over the past few months has never been witnessed in history," says Thomas Jordan, a Swiss central bank governor.

[2banana]

But I thought this was contained!

[RetiredArmy]

No big deal. Quit worrying. Hey, when Hillary is elected in November 08, the world will be saved. All will be fine. She will correct it all by taxing the rich. No problemento.

[RightWhale]

The only thing that isn’t contained is articles like this. Buy gold or something.

[stockstrader]

Yep, she'll just use other's tax money to give out all of those big government Christmas presents that she gives out in her Christmas commercial!!!

That commercial is absolutely OUTRAGEOUS!

[BenLurkin]

You might enjoy this — http://www.youtube.com/watch?v=-h6Wab4QRt8

[Hardastarboard]

Ambrose Evans-Pritchard

Is the guy who was going to save us from Bill Clinton as I recall. I don't put a lot of stock in his economic knowledge.

[Gorzaloon]

Duh, so wut shuld I do.

I no.

By GOLD. Betcha.

[BenLurkin]

and this — http://www.youtube.com/watch?v=xuCL3MO8g30

[ex-Texan]

No problemo ! Helicopter Ben is gonna fix it by dumping $$$$$$$$$ on the problem. Just drink the Kool Aid and bury your head in the nearest sandbox. Sing along to soft Jamaican music: 'Everything's gonna be alright . . . Yeaaahhh Yeaaaah."

[MrEdd]

Real estate has become vastly over valued. If it doesn't sell at these prices why the wrong sort of people might own homes and businesses.

Oh the horror!

[basil]

But--but--but--

Are we all gonna die?

[ridesthemiles]

Yep, she’ll just use other’s tax money to give out all of those big government Christmas presents that she gives out in her Christmas commercial!!!
That commercial is absolutely OUTRAGEOUS!”

She sure is targeting those of our society who have that chronic disease:
Outstretched hand with palm up” Grasping fingers earn extra points......

[aroundabout]

Crisis may make 1929 look a 'walk in the park' Then again it may not.

[narses]

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[Popman]

I’m glad I still have all that Spam and toilet paper left over from Y2K

[Cap Huff]

I skimmed the article and found that the title was taken from this quote:

“They still have another couple of months before this starts imploding. Things are very unstable and can move incredibly fast. I don’t think the central banks are going to make a major policy error, but if they do, this could make 1929 look like a walk in the park,”

The guy qualified his statement rather carefully. The headline then hypes the depression reference.

The situation is certainly difficult, but I do not like articles that purposely hype the information.

[stockstrader]

Thanks! Those commercials are GREAT!!! (and more accurate than her outrageous and insulting commercial)

[khnyny]

That commercial is absolutely OUTRAGEOUS!

It's so outrageous it's downright funny. Hillary is a caricature of the Dem party ideals - government as Socialist Santa Claus dispersing out "free" gifts/handouts for votes.

Hillary can't just say "Merry Christmas" and shut up, noooooo.

[stockstrader]

I guess maybe you are right.

That commercial is so outrageous and soooooo sick (it's pretty darn easy to confiscate and GIVE AWAY OTHER PEOPLE'S MONEY)--that I guess maybe it IS comical.

[Just another Joe]

Well, I own a home and a lot, (sorta: I still have a small mortgage on it), I have very little credit debt, I own land in the Philippines, I have no car payments, and I've put a whole $50 on the credit card for Christmas gifts this year.

But: WE'RE DOOMED!