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Hell, Meet Handbasket |
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10-10-2008, 11:00 AM
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XCPUs.com Editor
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Hell, Meet Handbasket
Commentary: Why there's a crisis -- and how to stop it - CNN.com
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"Policymakers have no means of forcing the banks to start lending short of nationalizing the entire financial system. After all, the U.S. banks alone so far during the crisis have lost upwards of $2 trillion from their collective asset base.
Most banks are leveraged by more than 10 to 1. Translation: The U.S. financial system will have a whopping $15 trillion to $20 trillion less credit available next year than was around a year and a half before. The cost of money is rising and the availability shrinking.
Our policy leaders in Washington are thinking domestically when the solution to the credit crisis will be global. It is not that the world lacks money; it is that the world's money is sitting on the sidelines -- more than $6 trillion in idle global money markets alone.
The challenge will be to reform our financial system quickly to draw that global capital back into more productive uses. The first step should be efforts to make the market for future asset-backed paper more transparent and credible.
We need a private/public global bank clearing facility. The bankers don't trust each other. The central banks, working with the private institutions in providing enhanced data, need to begin to refashion the world's financial architecture.
And while that is happening, the major governments of the world, including the Chinese, should begin major fiscal efforts to stimulate their weakening economies.
"
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10-10-2008, 01:53 PM
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Eight straight days of beatings with -20% damage and now they think there is a credit problem? 
Can't wait for what their next great revelation might be? (Maybe they will discover the Pope is Catholic).
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The more you read and learn, the less your adversary will know. - Sun Tzu
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10-10-2008, 02:19 PM
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Consumer Electronics GURU
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Hmmmm Global Banks in a controlling position.. There would be NO misuse there at all!
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10-10-2008, 02:20 PM
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The fundamentals of the economy are STRONG!
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Originally Posted by Randomizer
Triple-cores are three-quarter fails, one-quarter epic fails.
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Quote:
Originally Posted by Dean
Not just fail... MULTIFAIL!!!!!!
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10-10-2008, 03:14 PM
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Quote:
Originally Posted by Ches111
Hmmmm Global Banks in a controlling position.. There would be NO misuse there at all!
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Am I the only one who sees this as the first step towards a world government?
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10-10-2008, 03:14 PM
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i dont think things are that crazy yet
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10-10-2008, 05:39 PM
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The more you read and learn, the less your adversary will know. - Sun Tzu
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10-10-2008, 05:46 PM
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Global communism FTW!!! 
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[Today 04:12 PM] Eurasianman: Nehalem, here I come 
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Quote:
[Today 06:51 PM] Viperabyss: [Seal] also made use of his [wiener] too...just different purpose
[Today 06:51 PM] Eurasianman: no wonder my ass hurts
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10-10-2008, 05:55 PM
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Quote:
Originally Posted by SuperFly03
Am I the only one who sees this as the first step towards a world government?
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NO !!!! many steps have already been taken
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10-10-2008, 06:07 PM
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I find it funny that AIG, whom recieved a 85 Billion dollar check from the gov't one month ago, has already spent that money, and is asking the government for another 35.7 billion.
Meanwhile, the executive staff of AIG is taking $500,000 trips to Hawaii and california for conferences.
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The accumulated filth of all their sex and murder will foam up about their waists and all the whores and politicians will look up and shout 'Save us!' And I'll look down, and whisper 'No.'
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10-10-2008, 07:06 PM
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Quote:
Originally Posted by JKflipflop
Meanwhile, the executive staff of AIG is taking $500,000 trips to Hawaii and california for conferences.
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Take it easy on them, JK, they had been expecting Fiji.
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10-10-2008, 08:01 PM
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we are in a full blown meltdown which has resulted in a true market crash.
Dow 52 week high: 14,168.50
Dow 52 week low: 7,773.71
OUCH!
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10-10-2008, 09:32 PM
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just gotta wait 20 years and see what the portfolio looks like then....
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10-10-2008, 09:33 PM
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Quote:
Originally Posted by MFord66215
just gotta wait 20 years and see what the portfolio looks like then....
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Yep. Me... young... not panicing, though my 401K and brokerage accounts have taken a nice hit  ...
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10-10-2008, 09:49 PM
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Quote:
Originally Posted by JumpingJack
Yep. Me... young... not panicing, though my 401K and brokerage accounts have taken a nice hit ... |
OH yeah. I've been hammered. Down 20% or so.
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[Today 09:22 AM] *Eurasianman beats logain down with his blow up doll*
[Today 03:52 PM] DaSickNinja: I kick puppies and drink the blood of children.
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10-10-2008, 10:11 PM
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Quote:
Originally Posted by SuperFly03
OH yeah. I've been hammered. Down 20% or so.
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Yeah, my financial advisor sent out emails to his clients ... the market behavior at the moment is trading on pure emotion and is not rational, and the recommendation is to simply keep with my plan and look for some good entry opportunities ...
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"Few things are harder to put up with than the annoyance of a good example."
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10-10-2008, 10:38 PM
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Quote:
Originally Posted by JumpingJack
Yeah, my financial advisor sent out emails to his clients ... the market behavior at the moment is trading on pure emotion and is not rational, and the recommendation is to simply keep with my plan and look for some good entry opportunities ...
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Smart guy.
I don't know everything, nor do I pretend to, but I completely agree with him.
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[Today 09:22 AM] *Eurasianman beats logain down with his blow up doll*
[Today 03:52 PM] DaSickNinja: I kick puppies and drink the blood of children.
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