Thoughts on the financial crisis - IS THE WORLD ENDING?

Thoughts on the financial crisis - IS THE WORLD ENDING?

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BaNa
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Joined: 09 Sep 2007, 21:05

Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by BaNa » 18 Sep 2008, 11:57

Theres been a fucking dump of closures and bankruptcies lately, what with the CDO crisis going on and on.

Lets start with the federal bailout of Fanny Mae and Freddie Mac, and the stream of shit before and after [ although apparently the Chinese got burnt with that too ]:

Bear Stearns

Merrill Lynch

Lehman Brothers

AIG

Morgan Stanley?

Russian Stock market closed

In fact, check out the Russian stock market blog post about yesterday >_>



Two things toward the end:

Gold prices are up fast.

and here is an interesting article back from 2006:
It talks about how to spot a crash coming. One of the indicators is the ratio of these two indexes changing significantly over a 90 day period. As you can see, they have changed tons in the past 1 month. Thoughts?
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imbaczek
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by imbaczek » 18 Sep 2008, 13:45

Also, Fed is out of cash, so should one more huge financial institution fail, USA is in for a ride.
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BaNa
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by BaNa » 18 Sep 2008, 14:17

The Fed seems to be getting money from the treasury atm, so for now it is ok, although the fact that it needs such help is telling.

Code: Select all

http://www.marketwatch.com/news/story/treasury-give-fed-cash-its/story.aspx?guid={CD5FACB1-628B-4301-BA67-D0869AFDBD56}&dist=hplatest

Also, This one is good.

Heres an interesting article about the whole credit derivative bubble, and how dangerous it is:

http://www.harpers.org/archive/2008/02/0081908


And a nice quote from harpers:

Galbraith wrote: In the autumn of 1929 the mightiest of Americans were, for a brief time, revealed as human beings. Like most humans, most of the time, they did some very foolish things. On the whole, the greater the earlier reputation for omniscience, the more serene the previous idiocy, the greater the foolishness now exposed. Things that in other times were concealed by a heavy façade of dignity now stood exposed, for the panic suddenly, almost obscenely, snatched this façade away. We are seldom vouchsafed a glance behind this barrier; in our society the counterpart of the Kremlin walls is the thickly stuffed shirt.

Also, here is a piece about how other banks depend on AIG

Woo, another piece on CDSes
Last edited by BaNa on 18 Sep 2008, 15:03, edited 2 times in total.
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tombom
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by tombom » 18 Sep 2008, 14:43

it's been obvious this would happen for a while, people are idiots

these sorts of things always happen people continue to be idiots
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Cabbage
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by Cabbage » 18 Sep 2008, 14:44

HBOS (UK's biggest mortgage lender) was taken over yesterday by Lloyds TSB, stop it collapsing.

And Nationwide took over 2 smaller building societies last week as they were drying up.

and ofc there was northen rock just under a year ago ^^
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clericvash
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by clericvash » 18 Sep 2008, 15:11

Cabbage wrote:HBOS (UK's biggest mortgage lender) was taken over yesterday by Lloyds TSB, stop it collapsing.
Yeah i am with HBOS atm wonder how it will affect my accounts?

The situation is getting pretty serious worldwide now everyone seems to be suffering...when will it end :(
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Hoi
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by Hoi » 18 Sep 2008, 15:24

bs, this happend befrore, and the world survied, it will again.
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BaNa
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by BaNa » 18 Sep 2008, 15:29

Hoi wrote:bs, this happend befrore, and the world survied, it will again.
Image

btw, about the title: I don't actually think the world is going to end, but a stock market crash seems possible, and that would be unpleasant.
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Hoi
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by Hoi » 18 Sep 2008, 15:40

If something will happen, it will happen in america, and it will be their own fault, the rest of the world may get side effects though.
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smoth
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by smoth » 18 Sep 2008, 15:53

imbaczek wrote:Also, Fed is out of cash, so should one more huge financial institution fail, USA is in for a ride.
They print more devaluing the dollar at bit.
BaNa wrote:btw, about the title: I don't actually think the world is going to end, but a stock market crash seems possible, and that would be unpleasant.
Nope. What is happening is that several places were just handing out hot dickings... I mean loans, just handing them out, to, people, who, really could not pay it back. Those breeding shits had to have a house so they could move in with their new wife/breedingground/whore. After many people started losing their home because they didn't really have a career/money and felt entitled to shit like nice cars, tvs, and a house complete with white picket fence to hold their brood. The banks at first were like, FUCK we are losing money... Now they are like SHIT WHAT WAS I THINKING as they wake up after a pub crawl next to a man who looks like carl from aquateen hungerforce.

AIG like groups were buying up much of these people's debt so they could milk them over time, over extended themselves because they were greedy and when they finally realized they ate too much their stomach ruptured and they had to call their uncle sam to save them.
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SinbadEV
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by SinbadEV » 18 Sep 2008, 16:18

So I, in a position of extreme debt and sufficient employment am probably okay then, right?

edit:
Especially since many of my debts are in US funds and I earn Canadian dollars anything that harms the US dollar is good news.
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jcnossen
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by jcnossen » 18 Sep 2008, 16:27

Heres an interesting article about the whole credit derivative bubble, and how dangerous it is:

http://www.harpers.org/archive/2008/02/0081908
Wow this is a really nice article. I'm going to buy some alternative energy funds and wait for the bubble! :mrgreen:
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tombom
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by tombom » 18 Sep 2008, 16:40

Hoi wrote:If something will happen, it will happen in america, and it will be their own fault, the rest of the world may get side effects though.
you retard
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Hoi
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by Hoi » 18 Sep 2008, 17:29

tombom wrote:
Hoi wrote:If something will happen, it will happen in america, and it will be their own fault, the rest of the world may get side effects though.
you retard
As far as I know, becaus all those company's borrowed too much money too easy to people, but that's about all I know, so ignore me :wink:
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smoth
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by smoth » 18 Sep 2008, 17:40

sometimes hoi it is better to not say anything.
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Hoi
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by Hoi » 18 Sep 2008, 17:41

Lol I didn't think of that :shock:
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rattle
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by rattle » 18 Sep 2008, 17:54

again
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FLOZi
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by FLOZi » 18 Sep 2008, 18:20

Say hello to boom and bust.
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imbaczek
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by imbaczek » 18 Sep 2008, 18:33

smoth wrote:
imbaczek wrote:Also, Fed is out of cash, so should one more huge financial institution fail, USA is in for a ride.
They print more devaluing the dollar at bit.
I know. I'm just not sure that the markets will treat such a thing as calmly as you 8) Also, who's going to bail out fed when things get really ugly? By the time this happens, there's probably a civil war in US, since there's not much left for the people to do, hopefully this won't happen though.
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manored
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Re: Thoughts on the financial crisis - IS THE WORLD ENDING?

Post by manored » 18 Sep 2008, 18:36

The world is not going to end, if economy breaks THAT hard we will just all become socialists instead :) (Those of us that dont die in the huge wars that is)
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