Posted on 09/19/2008 5:52:08 PM PDT by politicket
When government officials surveyed the flailing American financial system this week, they didn't see only a collapsed investment bank or the surrender of a giant insurance firm. They saw the circulatory system of the U.S. economy -- credit markets -- starting to fail.
Huddled in his office Wednesday with top advisers, Treasury Secretary Henry Paulson watched his financial-data terminal with alarm as one market after another began go haywire. Investors were fleeing money-market mutual funds, long considered ultra-safe. The market froze for the short-term loans that banks rely on to fund their day-to-day business. Without such mechanisms, the economy would grind to a halt. Companies would be unable to fund their daily operations. Soon, consumers would panic.
(Excerpt) Read more at online.wsj.com ...
We can agree on Cuomo.
But his results should be interesting at a minimum.
If that's not speculation, then I don't have a clue what is?
Speculating stocks will crash, in such a way as to contribute to that likelihood is one thing.
Speculating stocks will soar, is not “speculation”.
It is optimism.
Can we agree on "optimistically speculative"?
;-)
Just so long as we kick some butt, about opening foreign markets, we can call it anything you want.
Our problem is not banks.
Our problem is ... we are SPENDING what is in them.
We are spending our national inheritance.
It’s time to get a job.
Couldn't have said it any better.
I'm not talking about daytraders. I'm talking about people who have faith in this plan working long term.
Getting in at a low price if you believe in something is not necessarily speculation. Millions of homeowners have done that as well.
Obviously you haven't spent time hanging around US college campuses or your would be more au fait on your Marxist ideology:
No..I label those investors who buy something without any history or track record or knowledge if it will even exist as speculators.
Or...as Merriam-Webster would define:
2: to assume a business risk in hope of gain ; especially : to buy or sell in expectation of profiting from market fluctuations - transitive verb
I guess that would include those early Microsoft investors who turned out to be pretty wise.
You might think they were fools. Maybe they just knew more than the rest of us.
“Then the only choices are default or hyperinflation.”
Ahhh yes...hyperinflation.
It’s been awhile since I’ve studied economics, but reading through all this over the past few days, I’ve been wondering about the effect of pumping all these dollars into the system.
And other countries are doing the same with other currencies..
Isn’t that - itself - something that can cause other unintended consequences.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aB_rf1rurtio&refer=home
Sept. 20 (Bloomberg) -- U.S. Treasury Secretary Henry Paulson is sending a financial-rescue plan worth about $800 billion to Congress as Democrats prepare to turn it into a vehicle to help people with high-cost mortgages stay in their homes.
The Treasury will run the program to take on illiquid mortgage-related debt, with the Federal Reserve consulting on its design, officials said. Treasury aides are spending the weekend with congressional staff to negotiate a compromise that the House and Senate can vote on next week.
Paulson, Fed Chairman Ben S. Bernanke and other regulators are eager to stop a contagion of credit risk that has toppled three financial giants and forced one into a merger as capital flight began to squeeze Wall Street. Democrats are indicating they want to target relief for households by restructuring loans of struggling borrowers.
...
You're really showing a novice understanding of market terms. I've already given you the definitions - what you do with them is up to you.
Yes, but National Socialism, i.e. fascism involves collusion between the state and the owners of industry to further the aims of both (Germany, Italy, Argentina and Chile in the bad old days). It is grounded in the totalitarian power of those at the top. The evil of socialism is not that is not trying to be benevolent, which in Northern Europe, for the most part, it actually was, but rather the dillusion that people are better off with central planning rather than individual freedom.
Check out #112 - it’s starting...
” I’m not to certain that even cash is a good place to be right now.”
sigh.
How close is it to this?
Having a stash of cash will be worth less than a stash of napkins?
So - what is going to actually be worth anything?
Gasoline?
Food?
And how long does it take to hit the “reset” button and begin rebuilding the system?
Very far from it.
Didn’t this all start, not so many years ago, with Democrats claiming that holding borrowers to realistic lending standards was ... RACIST?
As a nation, we are quickly spending all the money we were born enjoying from the industry of our parents and grandparents.
It’s not unlimited. There are 2 “Walton”s on the top 5 richest Americans list this year.
Unfortunately, those two heirs of Sam Walton are becoming rich, by exporting American jobs to Communist China.
In case anyone forgot ... China has approxmately FIVE TIMES THE POPULATION of America.
We cannot reach equilibrium with China’s wages before we implode. Ayn Rand never considered 1.3 billion poor competing, skilled and racially motivated workers.
We will evaporate, as a nation, before that happens.
Sorry, I made a slight mistake in that post. I meant to write “petit-bourgeois” instead of “bourgeoisie”. Good catch.
100 years before the mast on Davy Jones ship to postpone the judgment.
Will ye serve?
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