Stop a financial catastrophe. Time is running out. - Pensacola Fishing Forum

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Old 07-24-2008, 02:30 PM   #1
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Default Stop a financial catastrophe. Time is running out.

We are running out of time.

http://market-ticker.denninger.net

The Senate votes some time between now and Saturday, unless we stop it.

We had better stop it. <object id="MediaPlayer" style="LEFT: 20px; WIDTH: 640px; TOP: 25px; HEIGHT: 525px" codebase="http://activex.microsoft.com/activex/controls/mplayer/en/nsmp2inf.cab#Version=6,4,7,1112" type="application/x-oleobject" height="525" standby="Loading Windows Media Player components?" width="640" classid="CLSID:22D6f312-B0F6-11D0-94AB-0080C74C7E95"><param value="http://storage.denninger.net/Financial.wmv" name="filename" /><param value="True" name="Showcontrols" /><param value="True" name="autoStart" /></object>
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Old 07-24-2008, 02:59 PM   #2
WW2
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Default RE: Stop a financial catastrophe. Time is running out.

Just like you should stop saving stupid peoples lives, you should stop bad business.
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Old 07-24-2008, 03:07 PM   #3
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Default RE: Stop a financial catastrophe. Time is running out.

Yeah...that's a super idea...let Fannie Mae and Freddie Mac fail, then the economy will come crashing down, fuel will increase even more, taxes will go up to pay for more welfare, bad debt, etc. On the bright side, you'll all be out of work (I work for Uncle Sam, so I'm safe) and won't be able to afford internet access...I'll have the board all to myself. Just because someone says it's bad politics doesn't make it so.

Harry
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Old 07-24-2008, 03:11 PM   #4
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Default RE: Stop a financial catastrophe. Time is running out.

:letsdrink
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Old 07-24-2008, 03:23 PM   #5
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Default RE: Stop a financial catastrophe. Time is running out.

I take risks some work well some fail miserably. Fannie Mac took some big risks that didn't pay off. Boo hoo. Take your lumps, learn and move on.
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Old 07-24-2008, 03:39 PM   #6
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Default RE: Stop a financial catastrophe. Time is running out.

Harry, you are wrong.

Fannie and Freddie can't be fixed. They're geared at somewhere between 65 and 200:1, depending on what you count and how.

The money simply isn't there.

If we bail them out, we will add a trillion to our federal debt immediately. This will spike the long end of the yield curve.

The result will be much higher mortgage rates.

And every other kind of interest rate. Not just on houses.

If they blow or go into runoff, we will get higher mortgage rates.

But other parts of lending will be unaffected.

If you want to see massive unemployment, cut off credit to business and you will make that happen. If we backstop Freddie and Fannie, there is a very high probability that we will see exactly that.

This bill is a monstrous mistake, and significantly raises the risk we will have a Depression.
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Old 07-24-2008, 06:01 PM   #7
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Default RE: Stop a financial catastrophe. Time is running out.

I agree with Genesis ...........for the first time

They cannot be fixed, so this is just a delay taht will make the final outcome worse, rather than better





You will witness the destruction of a our curency











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Old 07-24-2008, 07:11 PM   #8
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Default RE: Stop a financial catastrophe. Time is running out.

Genesis,

I guess we'll have to agree to disagree on this one. In different times, a bailout may not be the best idea, but right now, if FM and FM fail, the market will tank, jobs will go away, welfare and bankruptcies will skyrocket, etc. It's all about consumer confidence. It may be delaying the inevitable, but hopefully when they finally do fail, the economy will be better able to handle it.

Harry
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Old 07-24-2008, 07:25 PM   #9
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Default RE: Stop a financial catastrophe. Time is running out.

I may be wrong but typically if interest rates go up the dollar strengthens which in turn drives oil prices down which puts real dollars in our pockets. There's good and bad with most situations. Oil is sold in dollars per barrell globally. Of course it could be argued that higher oil is driving the need to rapidly go to alturnative energy sources thus it is a good thing. Just thoughts.
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Old 07-24-2008, 07:50 PM   #10
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Default RE: Stop a financial catastrophe. Time is running out.

Im with harry on this one. Did you see what happened the day they found out they were in trouble? The market tanked and when the company does fail the market will tank for days.
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