Posted on 09/27/2008 9:13:31 PM PDT by Porterville
The gears of the machine? Where are they now?
there was no BOOM for most of us....maybe if you were heavily invested in the stock market but most people are not.....
and as it turns out, more and more of those "gains" were based on an illusion....
everything bad started with Clinton...
50 trillion dollars... where in the world is 50 trillion dollars?
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They are inventing money.
Isn’t that the domain of the Treasury?
One difference — the Treasury has to follow laws and regulations and such.
Finally someone telling it like it is. We are in that much debt. The subprimes were just the trigger. If we pour more debt on watch out. The whole thing will unravel.
It’s like the government is running itself.
Where were the politicians?
be careful, now!
bill o’reilly said just friday in a tirade that
clinton administration was not involved and was being unfairly blamed by “right wingers”.
/s
I don't know. But I assure you, I am not interested in paying that money. Let these banks, insurance companies, and hedge funds, take the loss, otherwise they will do it again.
Only bank depositers should be guaranteed. They can have a govt guarantee, perhaps in a newly set up national bank, if needed, and the rest must just be left to market forces.
Stinks to high heaven doesn’t it!!!
We have to just let it all crash down, I’m afraid, and simply start all over from bedrock honest priciples.
If I’m wrong, and the best thing is to rescue the addicts, it seems all we are doing by bailing out and band-aiding the catastrophe is perpetuating the socialist boondoggle that will nonetheless come to a day of reckoning, a collapse sooner or later.
Why not get back to basics now? If it means millions living in hobo camps for awhile, maybe it’s what we have to go through to sober up and stop the shell-game.
Heaven forbid, are you suggesting that the gods of wall street actually follow laws, they are only for the little people you know. LOL
I do believe that is the way it is currently set up. I agree 1000%.
ping for later
They sure aren’t with the people. They are greedy and they just don’t care if they destroy America or not.
If they bailout, it will unravel. They need to take that money and pay down the debt.
Bank of International Settlements states total notional credit derivative instruments world wide are over a QUADRILLION noww...most fantastic destructive bubble in all history. The credit default swaps, big enough to sink us, are only around $60 trillion. Here is an excerpt from a couple of months ago from Jim Sinclair of www.jsmineset.com on derivatives..
“The notional value of all outstanding derivatives now totals approximately $1.144 QUADRILLION.
This appears to be Bank of International Settlement Spin to announce the largest gain in derivatives outstanding since they started to report. As of the last report it appeared that both listed and OTC derivatives was under $600 trillion. Now listed credit derivatives alone stood at $548 Trillion. The OTC derivatives are shown as $596 billion notional value, as of December 2007. One can only imagine what number they are at now.
Well we hit a QUADRILLION. We have more than $1000 trillion dollars in all derivatives outstanding. That is simply NUTS because notional value becomes real value when either counterparty to the OTC derivative goes bankrupt. $548 trillion plus $596 trillion means $1.144 quadrillion.
It would be an interesting piece of research to see what the breakdown is of listed derivatives according to exchange to see if it adds up to the reported number. Spin is now everywhere.
This means that no OTC derivative house can be allowed to go broke. This means that whatever funds are required to rescue failing international investment banks, banks and financial entities will be provided.
Keep this economic law in mind. Monetary inflation proceeds price inflation and is its primary cause in economic history from Rome to present.”
Wow. I am sick.
There will soon be major geo-political shifts.
Sooo... what happened to the insurance they paid a small premium on?
I’m going out on a limb and blaming Greenspan and Rubin.
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