Posted on 09/30/2008 1:36:27 PM PDT by politicket
So, who the hell are you?
If I wanted to make that case to the sheeple, I would lead every newscast with individual case stories of; successful businessmen who can't get credit, homebuyers with good incomes and down payments who can't get a mortgage, and runs on commercial banks with strong balance sheets.
I'll be looking for those stories this week.
I call BS
Thank goodness Paulson and Bernanke warned us at that time that the economy needed help.
Anyone less ethical would have just spread the news around with their insider friends and not come to Congress and the public until the last possible second.
I'm Politicket - and who they hell are you?
You’ll know when your checks start bouncing.
Might be time to see what your bank’s exposure to Freddie and Fannie is.
Triple Dog Dare Dead Cat Bounce.
Euros running from their own meltdown looking for cover.
Interesting post although the T-bill yield is now at .89 and last year the LIBOR was over 5.
place mark. When is part 3 about CDO’s coming out?
I have. Solid bank - as much as you can call any bank solid.
Besides, I only have enough in there to cover mortgage payments, utilities, etc.
All of my other money is 'other' places so my family won't starve if this goes belly-up.
“I’m Politicket - and who they hell are you?”
Insufficient response. After a post such as that you’d best establish some credibility with the FReepers you intend to “teach”.
Who the Hell are you?
Wouldn’t the number also be affected by whatever is going on in Europe? Four cases: US up, Europe up; US down, EU up; US up, EU down; US down, EU down. Makes it kinda hard to know what is going on by subtracting one variable from a second variable.
Heh, heh. Look at the WTI crude future now (over $100 again). ;-)
The 3-month T-Bill interest rate has gone up a little since I wrote this earlier today for an economic newsletter that I do.
Also, LIBOR itself isn't that great of an indicator. When combined with 3-month t-bills it tells a much better story of a nation's credit risk.
It’s also the last day of the month. The day that a lot of mutual funds try to shore up their biggest holdings so that their returns look better.
Well it’s a good post and you make a good point.
Actually, what it's telling us is that the market is finally starting to charge the correct premium for loans to non-governmental bodies - 3.32%. When banks were able to borrow at essentially the same rate as Treasuries, they took insane risks, endangering shareholders, bondholders and taxpayers in the process. What the banksters want is for us to save them from the consequences of their mistakes by giving them a trillion-dollar handout and, in so doing, inflate the heck out of our currency. Note that until the inflationary period that started during WWII, gold was at $25 per ounce. Today, it's at $900.
By hook or by crook, Jorge Bush is determined to have this bill passed. If you have any savings at all, you need to prepare for the dollar to be worth 1/4 what it's worth today two decades from now. Not quite hyper-inflation, but not a lot different from what happened from the 40's till the 70's.
Why save? Spend. Other taxpayers will provide.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.
Laurence J. Peter
Thanks for the informative post.
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