Paulson: "Thank you so very much for helping my socialist Democratic party,
and my personal candidate, Barack Hussein Obama become President."
Posted on 10/10/2008 4:57:43 AM PDT by Santiago de la Vega
Monetary base growth over 600% at annual rates.
(Excerpt) Read more at research.stlouisfed.org ...
The US has lost trillions in wealth in housing and portfolios.
The Fed is trying to fix the problem it caused, but it's too late.
I've been in cash since the market opened on Monday.
Yes, it will now take trillions in direct investment in corporations to salvage the economy (public and private equity). The banks cannot be salvaged (too many are insolvent where throwing trillions at them won’t do much and certainly won’t get them to “lend” since we still have too much leverage).
The failure of FDRs Business Socialism/Liberal Globalism is quite evident.
The only way to fix this is to re-Americanize the economy. Time to dump any and all vestiges of FDR Globalism
We had bad finanical panics long before FDR. The problems here are due to many, many factors - the Fed’s loose money policy is just one of them.
>> The US has lost trillions in wealth in housing and portfolios.
It’s not all “lost”. Some of it was way overvalued to begin with.
>> I’ve been in cash since the market opened on Monday.
I’m essentially all in cash as well. Here’s hoping our benevolent and omniscient government doesn’t burn up all our cash in the fires of inflation before we can use it, FRiend...
How long will this tide us over, another week or so? Reminds me of the times when my money’s been tight and having to juggle bills, eat beans and freeze spending except for sustenance.
How long will this tide us over, another week or so?
In the end, the only solution is to let things crash and pick up the pieces. The poison in the financial system needs to work itself out naturally. That will take a long time and will be painful. Government intervention will just lengthen the process and make it more expensive. But it will probably happen anyway so it looks like they are “doing something”.
To accomplish this the America people would have to overthrow the government and place the liberal pansies we've elected to rule our lives in captivity.
Our elected officials from FDR to the present time are wholly responsible for the lousy government. We've stood by while these nincompoops who enriched themselves with fat pensions and other perks have completely ruined our economy and our country.
Unfortunately, many of the electorate are imbeciles who believe electing a president whose close friends and associates are America-hating Marxists.
I’m there. The only thing outside of the essentials we have is the internet. And that won’t last forever.
The only reason I have it is because of the information that I won’t get on the one station I pick up. It’s worth the $12.95 to read stuff I can’t find out elsewhere.
The collateralized debt collapse (beginning with the subprimes) kicked this whole thing off. The derivatives originally written to protect the issuers against credit default but which later became trading vehicles and are based upon extreme leverage are now getting into the act. There are also swaps against interest and exchange rate risk. The entire system is unstable and is built upon leverage. As Jean Claude Trichet (head of Euro Central Bank) said over a year ago we have no idea how this thing will play out once credit begins to unwind. The entire financial system is too closely linked, too leveraged and inherently unstable. With well over one quadrillion (notional value) in derivatives spread through the system there’s a lot of pain and unwinding to come.
At what point do they realize we don’t have anymore billions to throw into the economy?
Paulson: "Thank you so very much for helping my socialist Democratic party,
and my personal candidate, Barack Hussein Obama become President."
if by ‘we’ you mean the Fed they have infinite billions to throw into the economy - and they will...
If by ‘we’ you mean ‘we the people’ we never had any billions to throw at the economy - someone did it for us without our permission...
throw the rascals out - the whole lot of them.
Lurking’
Meanwhile, I suggest pay down or off everything asap and don't use credit unless it is an emergency. Pay off your house, your car, everything and live within your means.
If the government won't fix it; you can. It's like the tortoise and the rabbit. It may take a while; but it's the best way to salvage anything.
They are plumbing new depths of Stupid on a daily basis. Your analysis is essentially correct; sad to say.
If a lot of people in the crash of 29’ had done this; they would have been a lot better off in the worst of times.
It’s up to us and not the greedy crooks which includes our government to do this. They are just trying to get all the money they can to protect their and their friends you know whats. They sure aren’t going to use to money to pay down the debt. We must make them by doing our own paying down.
We still have Congress, Harvard, Yale, the Democrats, socialism, 300 million mis-educated products of gooberment skools.
So....we have that going for us. Which is nice.
(Are the markets the disease, or the symptoms of the disease?)
They are graduates of the best schools in the country. They live in mansions they couldn’t build, eat food they couldn’t grow and deliver to market, and live in a country by and large very few have ever fought and carried their dead in ponchos.
Their kind of stupidity requires decades.
They are not changing. No more than Hitler in his bunker with Soviet tanks shaking dust onto his maps with fictional, long dead units marked.
For them, it is not them, as a class, it’s us. They’ll whip us like kings do horses.
Monetary base growth over 600% at annual rates.
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