The very foundations of the financial infrastructure are under great stress and there is legitimate concern it may not hold.
Trust has been broken. Credit is no longer considered an asset.
Every balance sheet in the world is under revision...and it's NOT PRETTY.
Oh well, I lived through the Hoover Depression, I guess I can live through another one. Not to worry. Hard times build character.
Easy does it. The machine is still intact and will remain intact.
I have to agree with your observation there Mariner. There are too many here on the board that can not see the forest for the trees. Everything is a democrat/CLinton plot according the Mantra.
Sometimes things are what they are. There is a very real danger of the entire world global financial structure unwinding. As to the reasons why and who exactly is to blame can be sorted out by the book writers in the coming years.
We are on the verge of this generation's '29. Maybe it is happening, maybe it isn't. The extent won;t be known for a while yet. But to attribute the declining Asian Markets to some sort of Clintonian Master plot is laughable.
The prospect of a second Clinton presidency is not something I look forward to seeing. But come on folks, some of you are attributing more powers to the Clintons to affect things than the demo dweebs believe Rove can do...
Get used to living on 10K or less a year...
The global markets had hoped that they could decouple from the problems of the US markets, but that is not the case. That coupling and unwinding is what has to be of concern. The repetitive mantra of Clinton and MSM responsible for a breaking of the faith in the fiat money does not make it so...
Look, I lost 40 grand in my retirement savings just over the past few weeks. It will go up again. People say, oh you should get your money out of stocks. Well if the country crumbles like it did in 29’ it doesn’t matter WHERE you have your money (unless it’s under your mattress). In fact, that is where my grandmother kept hers. She lived through the first depression and is probably smarter than all of us.
Total agreement.
The people who try to spin this as some sort of ploy to get her Thighness elected don’t have a clue.
The people and corporations and financial monoliths that are in trouble here can and often do buy and sell politicians by the truckload.
I agree. Usually I see the more pollyannish economists talking about a short economic set-back, but confidence is such an integral part of a recovery that you wonder if they are just playing their role, as written by the moneyed intersts that employ them. So it is nice to see something that could be a more accurate description of current events, and my oh my, A+ for style.
When bank rates are 2%, mortgages are 4% we’ll build ourselves a new fangled bubble. Trust me, nobody wants a 2% cd, and there is enough cash to make the last bull mkt look like nothing. Much of these writedowns is mark to mkt, and that means they can go up big, just like they went down big. Playing against the world, usually isn’t very profitable...
In the last 60 yrs, the sp500 has violated the 400 day mva 13 times, with only 3 of those being actually signals to sell. The other ten, were actually buying opportunities. If you don’t believe me, look for yourself.
The world might end (now), but I doubt it. Tuesday sure going to feel like it though!
Uncle Sams credit is still in demand:
10-Year Note, Mar 117'26.0 Change 1'27.5 Yield 3.484
yitbos
I'll take that; I may not know enough to speak intelligently about the economy. You might have a thing or two to learn about civility, though.
I am certain that the credit crisis is real. I only contend that mentioning the word "recession" in every mainstream media report is intended to have a deleterious effect on the electorate, especially given that we're still enjoying economic growth.
The key to avoiding a panic is to not panic.