Hey AURaptor, no financial worries, eh?

POSTED BY: chrisisall
UPDATED: Friday, July 25, 2008 03:53
VIEWED: 1815
PAGE 1 of 1

CHRISISALL

Monday, July 14, 2008 8:51 PM

http://www.nationalpost.com/news/story.html?id=651429
http://www.nytimes.com/2008/07/15/business/worldbusiness/15markets.htm
l?_r=1&hp&oref=slogin

As Jack Sparrow might say:
"Debt all around!"*

*Do not mistake this for glee- I'd truly hoped I was wrong in what I (and others here) saw comin'.

Financial advisor Chrisisall

CHRISISALL

Monday, July 14, 2008 9:08 PM

That's what I thoughtisall

AURAPTOR

Thursday, July 17, 2008 8:01 PM

Quote:
Originally posted by chrisisall:
That's what I thoughtisall

Can we post now ? I've posted replies for this so many times, only to have it disappear into the black, never to be seen again ?

It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager

" They don't like it when you shoot at 'em. I worked that out myself. "

CHRISISALL

Thursday, July 17, 2008 9:21 PM

If your posts displease me they disappear.

Omnipotent Chrisisall

SICKDUDE

Thursday, July 17, 2008 10:48 PM

Something tells me IndyMac is not going to be the last....

It'll be interesting to see how much damage the FDIC can absorb, considering it's run by a government already in $9 trillion dollars of debt.

"Your gratuitous jello awaits." - Dr. Helen Magnus, Sanctuary

RUE

Thursday, July 17, 2008 11:07 PM

So what's a few billion more?

Now as to the question 'what really is unraveling ?' -

The only thing I can think of is perhaps that the US - deeply in debt - lost the goodwill of pretty much the rest of the globe. It bit too many of the hands that were feeding it and keeping it alive. So they (former friends and allies) have gone and (quietly) dumped dollars, created de facto Euro and gold standards, and done their best to insulate themselves from US travails by bartering trade and banking agreements between themselves. So if the US should really go under - well it would be rough, but it's a big world out there. The US isn't everything, after all.

At least, that's how I make it out to be.

***************************************************************
"Global warming - it's not just a fact, it's a choice."

SIGNYM

Thursday, July 17, 2008 11:23 PM

NO WAIT!

The stock market went UP the past two days!!

That means everything's OK!!!!

---------------------------------
Let's party like it's 1929.

CHRISISALL

Friday, July 18, 2008 7:27 PM

How come nobody's talkin' about folks with Indymac only getting HALF their money over $100,000 back? Retirement accounts have been slashed...the FDIC isn't taking care of ALL of it...it's more serious than it's been characterized IMO.

Rich Chrisisall

AURAPTOR

Saturday, July 19, 2008 12:47 AM

Quote:
Originally posted by chrisisall:
How come nobody's talkin' about folks with Indymac only getting HALF their money over $100,000 back? Retirement accounts have been slashed...the FDIC isn't taking care of ALL of it...it's more serious than it's been characterized IMO.

Rich Chrisisall

Screw all y 'all. Dad left me enough $$. ( Though I'd give it all back just to have 1 more day w/ him )

Le sigh.

It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager

" They don't like it when you shoot at 'em. I worked that out myself. "

SIGNYM

Saturday, July 19, 2008 4:09 PM

Quote:
Dad left me enough $$.

How nice for you. Is it in trust? Just make sure that you (or the trustees) divide it up among however many banks it takes to keep the accounts below $100,000. Also, beware the broker-dealers (Lehman, etc.) AKA the "shadow banking system". The Feds bailed out Bear Stearns but they're not going to back every wobbly institution 100%.

---------------------------------
Let's party like it's 1929.

RUE

Saturday, July 19, 2008 7:30 PM

July 19, 2008

Uncomfortable Answers to Questions on the Economy
By PETER S. GOODMAN

You have heard that Fannie and Freddie, their gentle names notwithstanding, may cripple the financial system without a large infusion of taxpayer money. You have gleaned that jobs are disappearing, housing prices are plummeting, and paychecks are effectively shrinking as food and energy prices soar. You have noted the disturbing talk of crisis hovering over Wall Street.

Something has clearly gone wrong with the economy. But how bad are things, really? And how bad might they get before better days return? Even to many economists who recently thought the gloom was overblown, the situation looks grim. The economy is in the midst of a very rough patch. The worst is probably still ahead.

Job losses will probably accelerate through this year and into 2009, and the job market will probably stay weak even longer. Home prices will probably keep falling, shrinking household wealth and eroding spending power.

“The open question is whether we’re in for a bad couple of years, or a bad decade,” said Kenneth S. Rogoff, a former chief economist at the International Monetary Fund, now a professor at Harvard.

Is this a recession?

Officially, no. The economy is not in recession until a panel at a private institution called the National Bureau of Economic Research says so. Unofficially, many economists think a recession started six or seven months ago, even as the economy has continued to expand — albeit at a tepid pace.

Many assume that if the economy expands at all, then it isn’t a recession, but that’s not true. The bureau defines a recession as “a significant decline in economic activity spread across the economy, lasting more than a few months.” If enough people lose their jobs, factories stop making things, stores stop selling things, and less money lands in people’s pockets, it is probably a recession.

Whatever it is called, it is a painful time for tens of millions of people. Indeed, this may turn out to be the most wrenching downturn since the two recessions in the early 1980s; almost surely worse than the recession that ended the technology bubble at the beginning of this decade; perhaps worse than the downturn of the early 1990s that followed the last dip in real estate prices.

But, despite what some doomsayers now proclaim, this is not the Great Depression, when unemployment spiked to 25 percent and millions of previously working people woke up in shantytowns. Not by any measure, even as your neighbors make cryptic remarks above dusting off lessons passed down from grandparents about how to turn a can of beans into a family meal.

How bad is housing?

Bad in many markets, awful in some, and still O.K. in a few.

The downturn has its roots in the real estate frenzy that turned lonely Nevada ranches into suburban ranch homes and swampland in Florida into condominiums. Speculators drove home prices beyond any historical connection to incomes. Gravity did the rest. After roughly doubling in value from 2000 to 2005, home prices have fallen about 17 percent — and more like 25 percent in inflation-adjusted terms — according to the widely watched Case-Shiller index.

Even so, most economists think house prices must fall an additional 10 to 15 percent to get back to reality. One useful measure is the relationship between the costs of buying and renting a home. From 1985 to 2002, the average American home sold for about 14 times the annual rent for a similar home, according to Moody’s Economy.com. By early 2006, home prices ballooned to 25 times rental prices. Since then, the ratio has dipped back to about 20 — still far above the historical norm.

With mortgages now hard to obtain and speculation no longer attractive, arithmetic has replaced momentum as the guiding force for housing prices. The fundamental equation points down: Even as construction grinds down, there are still many more houses on the market than there are people to buy them, and more on the way as more homeowners slip

CHRISISALL

Saturday, July 19, 2008 7:53 PM

I was secretly planning to take over the United States by gaining computer control of it banking institutions with complex new programs I designed to make me supreme ruler of all this land...and then call it..."This Land"...but now, not so much.

There's no profit in itisall

AURAPTOR

Sunday, July 20, 2008 5:50 AM

Quote:
Originally posted by SignyM:
Quote:
Dad left me enough $$.
How nice for you. Is it in trust? Just make sure that you (or the trustees) divide it up among however many banks it takes to keep the accounts below $100,000. Also, beware the broker-dealers (Lehman, etc.) AKA the "shadow banking system". The Feds bailed out Bear Stearns but they're not going to back every wobbly institution 100%.

No trust here. Don't confuse us w/ the Wayne family. ( Just saw The Dark Knight ) But thankfully the estate tax is not an issue, or else Uncle Sam would have stolen 1/2 of what was left to me

It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager

" They don't like it when you shoot at 'em. I worked that out myself. "

CHRISISALL

Thursday, July 24, 2008 4:52 PM

Quote:
Originally posted by AURaptor:
thankfully the estate tax is not an issue, or else Uncle Sam would have stolen 1/2 of what was left to me

So you ADMIT that Uncle Sam is basically a thief....

Gotyouisall

SIGNYM

Thursday, July 24, 2008 7:13 PM

Quote:
More than two years ago, Nouriel Roubini, an economist at the Stern School of Business at New York University, said that the housing bubble would give way to a financial crisis and a recession.

At my favorite macroeconomic website: www.RGEmonitor.com

Quote:
Banks are a crucial piece of the economy’s arterial system, steering capital where it is needed to fuel spending and power growth. Now, they are holding tight to their dollars, starving businesses of loans they might use to expand, and depriving families of money they might use to buy houses and fill them with furniture and appliances

This wouldn't be the case if people made decent wages.

Quote:
The fate of the economy now rests on the shoulders of the American consumer, whose spending amounts to 70 percent of all economic activity.

Where is Fletch2 when you need to say I told you so?

*sigh*

---------------------------------
Let's party like it's 1929.

FREMDFIRMA

Thursday, July 24, 2008 8:04 PM

Once again, I direct thee to the work of Sheldon Emry.

Billions for Bankers, Debts for the People.
http://www.bigeye.com/bankers.htm

It's probably the simplest possible explaination of the issue without delving into Usury and the horrors of "Bills of Credit" and suchlike.

But if you want some stuff on them, try Roger Sherman, the man responsible for the Constitutional phrase "No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts..."

And he expressed EXACTLY why in THIS handbill.

A Caveat against Injustice.
http://www.rogershermansociety.org/caveat.htm

As for Usury, articles too numerous to list, basic concept here.
http://en.wikipedia.org/wiki/Usury

And when they squeeze too hard on folk with nothing LEFT to pay, the Gov steps in and bails them out with the wealth and livelyhood of our future generations.

They do NOT care for this, since they had no say in it - and if you don't think this is true, try bringing it up with my niece some time.
(I suggest you don't, THAT apple didn't fall very far from the tree.....)

-Frem

It cannot be said enough, those who do not learn from history, are doomed to endlessly repeat it

AURAPTOR

Thursday, July 24, 2008 10:24 PM

Quote:
Originally posted by chrisisall:
Quote:
Originally posted by AURaptor:
thankfully the estate tax is not an issue, or else Uncle Sam would have stolen 1/2 of what was left to me

So you ADMIT that Uncle Sam is basically a thief....

Gotyouisall

A necessary evil, at best. As Cap Mal said.... All Governments are good for gettin' in a man's way.

It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager

" They don't like it when you shoot at 'em. I worked that out myself. "

CHRISISALL

Friday, July 25, 2008 2:52 AM

*Agrees with AU*

*faints*

AURAPTOR

Friday, July 25, 2008 3:46 AM

Quote:
Originally posted by chrisisall:
*Agrees with AU*

*faints*

* hands chris a blanket, as hell doth freeze over *

*pours a nice cold one and enjoys *

It is not those who use the term "Islamo-Fascism" who are sullying the name of Islam; it is the Islamo-Fascists. - Dennis Prager

" They don't like it when you shoot at 'em. I worked that out myself. "

CHRISISALL

Friday, July 25, 2008 3:53 AM

*would thank AU, but still fainted*