Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo
Looking at hugh panic in global mkts right now. This is vey series.
Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.
Good information and thanks. Do you have any thoughts on who would be among the first to issue stock buy-backs?
Sure.
We should have no restrictions whatsoever.
Just back up a pick-up truck to your nearest Federal Reserve Bank branch and we'll fill it with a back-hoe shovel full of twenty dollar bills...no questions asked!
Call it the "Santa-arrives-early-this-year" stimulus package.
Everyone needs a bail-out! Why even bother with the details?
McCain voted for the bailout. He's neck deep in this cr@p now.
What do you bet the down rises sharply in the Spring of 2009.
Who has any money left to bet?
Still getting offers in the mail, too. Every account statement I get has these “USE THEM NOW” checks to write against my account. My credit cards still work. I guess I’m just an ordinary Main Street schmuck who doesn’t understand all this crap.
“pin the blame squarely on the Democrats”
This should be only part of the reform he has promised us, haven’t seen any of it during this financial crisis. He has also promised us prosperity, I would like for him to convince me that he knows how the fudge to do that. He has also promised us peace, I had much rather be promised security against our enemies (foreign and domestic) and know that he realizes that peace is gained through strength. By the way, a strong military has to be financed by a strong economy. I don’t need a reason to vote against Democrats, I need a reason to vote for Republicans.
Unfortunately all the stock buybacks have been done already. Microsoft just announced a new one last week and it did nothing. Credit meltdown or hyperinflation, take your pick (Mises was right!)
And Down we go.
See you at 7700
Yes but weren’t they always dangerous? I think this credit and housing bubble has been a travesty not only against the very core of what it means to be an American but against common decency. Between the greed in Washington and Wallstreet we have a perfect storm. Not the failure of capitalism but the failure of Socialism.
We need a drop of 1000 points to equal Europe’s pain. Can we do it? Will we do it?
-- President Ronald ReaganRight then, and right now.
Correctamundo!
Hedge funds, “funds of funds,” investment banks, commodity funds, etc — they have bought positions in stocks, bonds, debt securities, commodities, etc with borrowed money.
When you buy positions with borrowed money, if your position goes down, you can get a “margin call” — you either have to put up more money to cover the position, or you have to sell off out of the position to re-establish your margin limits.
With the markets going down as hard as they are, hedge funds all over the world are having to sell assets to get out from under margin loan calls from banks. The banks want their money back and they want it back *now*.
When this is over, banks aren’t going to be lending money for margin again soon. The valuations (eg, price:earnings on stocks) of assets won’t be going back up in a hurry. In housing, for example, banks won’t write 100% mortgages any more - they’ll require 10% to 20% down payments. This will cause more people to quit paying too much for a house, and house prices will come down.
“De-leveraging” is going to reduce the valuations of all sorts of things - aka “deflate” the values.
Will they work in Costa Rica? If Obama gets elected I may just max them out while living in Costa Rica for the next 4 years.
Nah, it’s cool. McCain, Obama, Lieberman, Pelosi, Reid, Dodd, etc. all came to our rescue. I’m sure the fruits of their heroic 8 a.m. labor are going to be along any minute now.....Nah, didn't you hear Pelosi? The bailout they passed was only the best they could do given what the Administration gave them to work with. If only Obamessiah was President, they would have been able to craft a much better bill - one that would have prevented this meltdown </sarcasm>
Do you think inflation-linked bonds would be a good investment over the next 4~5 years vs stocks? Or should I just go shopping for a big old mattress to hold all my money. ;-)
Exactly so.
I speculated here on FR last week that if a big country in the EU (like Germany or France) pulled Ireland’s stunt, that it could spell the end of the Euro.
I had not thought it would happen this quickly. I honestly thought that it would take at least another week.
Well thank goodness the former CEO of Goldman Sachs, Mr Paulson gave us the $700 billion bailout and that congress added on $112 of pork! That solved the problem. /s
The markets could have done this without the taxpayers being stuck with the added debt!
Manufactured crisis to promote an agenda predicted by Yuri Brezmenov that has gotten out of control for the Marxists. And because we are the greatest nation on earth and have such impact, it has affected the world in general. Thanks Democrats!
http://www.dailymotion.com/video/k6KUDv1wzraWhwlBt1
WHY the hell are blaming McCain or Bush.
Congress is controlled by the Democrats and Obama !
The bailout was there package but they intended to craog it for weeks to get Obama elected !
Why are you spreading these LIES ???
What is your agenda ?
To get Obama elected ?
That puts things into perspective and thanks.
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