Posted on 02/23/2009 8:46:10 PM PST by TigerLikesRooster
* Credit market deep freeze: A virtual shutdown in all debt markets except U.S. Treasuries. An avalanche of selling — and virtually no buyers — for corporate bonds, commercial paper, asset-backed securities, municipal bonds and all forms of bank loans.
* Government bond collapse: A steep decline in the price of medium-and long-term government securities, as the U.S. Treasury bids aggressively for scarce funds to finance a ballooning budget deficit.
Shocking? Perhaps. Avoidable? No.
Ping!
However! 60% of those polled say that everything is swell now that Obama is in the White House. LOL!
Whoa!
Does anyone know if this guy has credibility??
“George Soros said the financial system has effectively disintegrated, with the turbulence more severe than during the Great Depression and with the decline comparable to the fall of the Soviet Union, while …”
The guy quotes Soros as an expert rather than a prime mover behind this.
Oh. He’s probably selling short. Carry on.
Theoretically speaking, and I am speaking theoretically here, what would happen if we were all late on our mortgage payments next month?
Theoretically speaking, and I am speaking theoretically here, what would happen if we were all late on our mortgage payments next month?
I don’t know but that’s a good question. It might be the straw that broke the camels back.
Obama’s sheeple shall soon discover their foolishness.
Or late on our income tax filings ... file an extention.
We’re well past the point where the pessimists need to prove their case old sport.
Combine that with a withdraw of all savings (stocks, bonds, bank accounts) and it'd all go bust...perhaps forever.
Ash Wednesday/Lent starts this week. This means fish fries and church services. Bow your head and pray.
Soros Sees No Bottom For World Financial "Collapse"
Sat Feb 21, 2009 4:19pm EST
NEW YORK (Reuters) - Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.
Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union. He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.
"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."
{snip}
Combine that with a withdraw of all savings (stocks, bonds, bank accounts) and it’d all go bust...perhaps forever.
___________________________________
I know someone who is withdrawing $4K of $6K she has in her
checking account and “putting it under the mattress”. I
don’t know if she is smart doing that or not.
I'm going to skip Joe Cain Day tomorrow and go buy more ammo.
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