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aussiebear

IDS World Markets Fri 10th August 07

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On BBC News 24  - 3 UK sub-prime lenders have gone out of business.

 

It's spreading ................

598617[/snapback]

 

UK subprime? Do you mean UK companies with exposure to the US RE or UK subprime RE?

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They are pushing on a string, methinks.? And I also think the crisis is bigger than we think because I suspect that most of those CDOs and a huge portion of MBS and GSE paper are completely worthless, and they are held by every financial institution in the world in huge quantities.

 

The run on the bank is here and the Ponzi men have stripped the vaults to the bare walls.

598606[/snapback]

I just do not want to appear either stupid or unappreciative, but

 

If all of this is happening without any real printed money, how can the vaults be bare? What limit or governor is there?

598613[/snapback]

 

Pat

You are not stupid, but despite youur intelligence are laboring under what Keynes himself caled the money illusion.....in todays worlsd there is no end to the PTBs power to print--

 

Its end will come when people start recognising that twenty seven dollars for one apple and a loaf of dayold bread is too much

 

beardrech :ph34r: :ph34r: ---At the time A feeling of nausea will envelope them when they enter gigantic supermarkets with mostly empty shelves, and occupied mainly by very large signs, with very large prices of very very minute sized comestibles...

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Like cows, it is easier to herd the beasts when everyone knows what is going to happen and when.

 

The problem becomes when we all think too much or think logically. For example, no one will want to hold over the weekend. That makes too much sense in the theoretical world.

 

Time after time they drive the market up into the close. That is the game plan according to the higher scheme of things. Low of the day is early. Shake-outs in between, but the general pattern remains the same (Wash, rinse, repeat comes to mind)

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Pat

You are not stupid, but despite youur intelligence are laboring under what Keynes himself  caled the money illusion.....in todays worlsd there is no end to the PTBs power to print--

 

Its end will come when people start recognising that twenty seven dollars for one apple and a loaf of dayold bread is too much

 

beardrech  :ph34r:  :ph34r: ---At the time A feeling of  nausea will envelope them when they enter gigantic supermarkets with mostly empty shelves,  and occupied mainly by very large signs, with very large prices of very very minute sized comestibles...

598624[/snapback]

Your right, but money does not even need to be printed any longer. Printed money is like gold or some other physical item that is limited in quantity.

 

Today, all it takes is smoke and mirrors which was not even contemplated by Keynes because he was in a time of honor and people with somewhat self-restraint.

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If there's no bad news over the weekend.

I think we'll get an ass blast on Monday to Leewhee's target.

598621[/snapback]

I am pretty sure that by the time New York reopens Monday, we'll have heard more confessions.

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Pat

You are not stupid, but despite youur intelligence are laboring under what Keynes himself  caled the money illusion.....in todays worlsd there is no end to the PTBs power to print--

 

Its end will come when people start recognising that twenty seven dollars for one apple and a loaf of dayold bread is too much

 

beardrech  :ph34r:  :ph34r: ---At the time A feeling of  nausea will envelope them when they enter gigantic supermarkets with mostly empty shelves,  and occupied mainly by very large signs, with very large prices of very very minute sized comestibles...

598624[/snapback]

 

Well said, beardrech.

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Patents, this is the best answer I can provide you. It won't answer all your questions, nor will it satisfy your desire for a PhD dissertation or any semblance of certainty.

 

It all ends when confidence ends.

 

Confidence is ending.

 

Not only in all these junk assets, but in the flawed BWII monetary system.

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Mets fan could face big tax bill on Bonds' home run ball
Even if he does not sell the ball, Murphy would still owe the taxes based on a reasonable estimate of its value, according to Barrie. Capital gains taxes also could be levied in the future as the ball gains value, he said.

598626[/snapback]

Can't let the kid keep the ball! He knows nothing of markets and speculation. He'll sell or the government will put him in jail for his own good. We must keep the money out of the hands of widows and orphans and safe with the insurance companies and hedge funds who know how to invest. :lol:

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Patents, this is the best answer I can provide you.  It won't answer all your questions, nor will it satisfy your desire for a PhD dissertation or any semblance of certainty.

 

It all ends when confidence ends.

 

Confidence is ending.

 

Not only in all these junk assets, but in the flawed BWII monetary system.

598630[/snapback]

I appreciate your comment and I hope this post will not be deleted, but -

 

I agree that confidence should be ending, but I am dismayed by even today 30+ percent still think that the current administration is doing a good job.

 

In light of that, can confidence EVER really end?

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Mets fan could face big tax bill on Bonds' home run ball
Even if he does not sell the ball, Murphy would still owe the taxes based on a reasonable estimate of its value, according to Barrie. Capital gains taxes also could be levied in the future as the ball gains value, he said.

598626[/snapback]

Can't let the kid keep the ball! He knows nothing of markets and speculation. He'll sell or the government will put him in jail for his own good. We must keep the money out of the hands of widows and orphans and safe with the insurance companies and hedge funds who know how to invest. :lol:

598631[/snapback]

It's a forced sale.

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Mets fan could face big tax bill on Bonds' home run ball
Even if he does not sell the ball, Murphy would still owe the taxes based on a reasonable estimate of its value, according to Barrie. Capital gains taxes also could be levied in the future as the ball gains value, he said.

598626[/snapback]

Can't let the kid keep the ball! He knows nothing of markets and speculation. He'll sell or the government will put him in jail for his own good. We must keep the money out of the hands of widows and orphans and safe with the insurance companies and hedge funds who know how to invest. :lol:

598631[/snapback]

It's a forced sale.

598634[/snapback]

The IRS is foreclosing on a baseball a guy found.

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On BBC News 24? - 3 UK sub-prime lenders have gone out of business.

 

It's spreading ................

598617[/snapback]

 

UK subprime? Do you mean UK companies with exposure to the US RE or UK subprime RE?

598623[/snapback]

 

UK Subprime RE - not a US exposure issue.

They didn't name names - I am listening now to see if there are any more details.

I'm not surprised - my 22 year old daughter was offered a 6x salary mortgage after just 6 months of work - and that was a high street lender.

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