Posted on 05/10/2010 3:12:32 PM PDT by Kartographer
With a $1 trillion bailout package for Greece and the other sick men of Europe, the EU and IMF spurred a huge global rally in stocks Monday, with the Dow rising 405 points, its biggest gain since March 2009. The massive bailout prevented "another systemic seizure of the global financial system" and, "in the short run, markets are happy we're not going to have another global meltdown like Lehman," says NYU professor Nouriel Roubini, co-author of Crisis Economics.
(Excerpt) Read more at finance.yahoo.com ...
That is a trillion dollars they do not have. It will simply bring nearer the day of reckoning for all of EUSSR
Just kicking the can down the road. They’ll need more in about 18 months, I’ve read.
He's wrong, and so are you. It will work just fine...
Today was a great day to cash out of the market. The Euro is toast.
Therein lies the beauty.
If $1T doesn't do it, then you can easily increase it to $2 or $3T you don't have. It's only paper..
They are treating a fiscal problem as if it were a liquidity problem. $1T is the wrong solution.
The market is still below 11,000. It has not recovered the money lost last week.
This is going to be a quick and short recovery, followed by the inevitable crash that comes from being broke and buried in debt and not wanting to stop doing the things that caused the situation. I’m talking about the world. Run up the credit cards, and borrow from the banks to pay them back down, and use the credit cards to make the payments to the banks while spending and spending and spending more. Meanwhile, the governments are reforming everyone but the culprits, the governments.
The bailout does nothing to solve the deep systemic problems infecting much of Europe. It’s like getting an unemployment check instead of having a real job.
Now they are going to spend a trillion more trying to fix it.
ok then, we’ll take it back.
It’s all coming to a crashing end, the environmentalists are getting pissed at all the trees being cut down to print that paper.
"Markets can remain irrational far longer than you can remain solvent."
Just because the pigs have jumped into the trough with both feet does not mean that they will not soon be slaughtered.
"I'd like to see mainstreet try to live for 6 months without financiers directing their activities. They be reduced to shooting each other over the last can of campbells."
5 posted on Saturday, October 04, 2008 3:38:33 PM by JasonC
"The US economy is going to come back gangbusters. Might take as long as 2 years, more likely only 1, but it will happen. Baked in. The Fed already did enough, and the Bush treasury, and adjustments to prices in the free market (commodities, houses, stocks, corporate bonds, all of it). ... Buy a clue already. The US economy has buried every challenge thrown at it for over 200 years, and it will bury this challenge. Do the Dems deserve the credit for fixing it? No, but they'll take it anyway. And if all you do in the meantime is predict failure, then they will succeed in getting that credit from the American people, while you will stand revealed as an economically illiterate fool. Get some optimism, people! Conservatives without economic optimism are so useless. The place to watch Obama is foreign affairs, he isn't hawkish enough. The economy is going to be fine."
19 posted on Thursday, January 08, 2009 9:33:36 PM by JasonC
" Commercial real estate investment - non residential - is up 20% year over year. Public construction spending is up 9% year over year. And IRs have moved down 3/8ths of a point from their summer high already.
Is residential slowing? Sure, the very hot pace of the last 3-5 years was unsustainable long term, and reflected the deliberately easy credit the Fed made available after the stock market crash in 2001. Now we are simply back to normal.
That is all. No mega anythings follow. "
16 posted on Sat 19 Aug 2006 07:21:40 PM EST by JasonC
The average American has 55% equity in their house.
US household net worth is $53 trillion.
The doomsters will tell you the world is about to end every day and twice on Sundays, but it is not only still here, but everybody and their brothers are richer every year. Like clockwork. Through every sort of technological change, every sort of political gale, through war and depression and inflation etc etc ad infinitum.
43 posted on 08/09/2006 7:45:21 PM PDT by JasonC
*smack*
ouch!
The truly surprising thing, though, is that you appear to have no sense of embarrassment and have learned nothing from this. Despite your being 100% wrong about the crash of '08, you're still bouncing around this forum pouring out the same snide, patronizing, self-aggrandizing smack talk that now makes you look utterly foolish.
Is the need to play the "know-all" that deep and uncontrollable?
The question is what we're willing to do to run our own lives again. Are you willing to be poorer in absolute terms if that means freedom from the control of Big Finance?
We are experiencing total regulatory capture by the financial sector. The list is too long to repeat here, but note well that they just nominated one of their attorneys to SCOTUS. And no serious reform of even no-brainers like the unregulated derivatives market has any chance at all of passing.
That's why I say, and have said for a long time, that the best thing we can hope for is a total collapse - followed by a massive bankruptcy cleansing - of the financial system.
Now, I believe that allowing all of the big financial houses - together with Freddie and Fannie and GM et. al - to enter a ruthless bankruptcy restructuring of their balance sheets wouldn't spell the end of the world as we know it. It would mean removing from corporate office the current roster of corporate weasels, and while ultimately they'd be replaced with more of the same the removal of so many bloodsuckers at a fell swoop might instill a wholeseome fear into their replacements for a while.
But the conclusion I've come to of late is that even if it does mean chaos, as JasonC insists (but note his crappy track record on predictions) it's a price I'm willing to pay. Guys like me do pretty well in chaos. I'm good at living by my wits, and the trade off is freedom. My family and I will do quite well. We can feed ourselves and defend ourselves, together with our good neighbors. I have skills that I can sell in any market. I'm not worried about turmoil in New York, which is as foreign to me as Timbuktu.
If we really want to prevent the big money from continuing to subvert our national sovereignty through open borders, enormous bailouts, and capture of the federal government - in short, if we want to take control of our own destinies away from the Goldman Sachs of the world - then we need to allow a collapse to happen.
Rahm Emmanuel said not too long ago that one should "never waste a good crisis." Amen to that. If this financial turmoil in Europe presents another opportunity for major crisis (please God), then all of our efforts should be directed to preventing any remedial action at all. The collapse will come, major changes will be instituted, and we'll be okay again for a generation or two. It's long overdue.
Amazing, isn’t it?
I learned after I posted that Jim had zotted Jason on Monday for his behavior on another thread where, among other things, he called me a communist for not believing in bank bailouts. I can’t say it’s much of a loss to the forum, that’s for sure.
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