roxy Posted September 29, 2008 Report Share Posted September 29, 2008 http://www.reuters.com/article/newsOne/idUSTRE48R45R20080928 Wachovia pie. C and WFC in bidding war for it supposedly. So many pies. Bear Sturds pie, Lehman cream pie, AIG custard pie, WaMoo pie, Merillberry pie, CountryFried pie-- can't keep track of all the pies being cut up and dished out to the lucky new MegaBanks. 693462[/snapback] At one point they'll be giving banks for free Link to comment Share on other sites More sharing options...
roxy Posted September 29, 2008 Report Share Posted September 29, 2008 HERE IS A DUMB QUESTION. Can the US ban shorting the $US? 693465[/snapback] You are short dollars when you borrow dollars and buy something (anything) that is not positively correlated with dollars. Link to comment Share on other sites More sharing options...
roxy Posted September 29, 2008 Report Share Posted September 29, 2008 Al, I don't know how long you have lived in OZ, but if want to see incompetence on a grand scale,just keep an eye on Canberra. What you see in NSW will be visited upon all of OZ when the shit hits the fan. I lived in Victoria during the bust in the 80s. They were very,very tough times. It will be much worse this time round. 1982 was the beginning of a 25 year bull market . 2008 is the beginning of a 15 year bear market?? 693483[/snapback] Secular bear market started in 2000, at least that's what David Rosenberg says. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted September 29, 2008 Report Share Posted September 29, 2008 so when Buffet was short the $US to the tune of $1billion or when Soros was short the British Pound,were they actually short or were they borrowing $$$$ to buy stuff? Are the currency markets too big to change the shorting rules. Too global in nature. I was surprised that the govt in OZ along with all the other countries could arbitrarily ban shorting just like that. They seem to be able to make the rules as they go. The worse the problems become the more outrageous the rule changes. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted September 29, 2008 Report Share Posted September 29, 2008 The 'rescue package' relief rally didn't last long in OZ. UP 50 POINTS TO DOWN 50 POINTS. Link to comment Share on other sites More sharing options...
lineup32 Posted September 29, 2008 Report Share Posted September 29, 2008 When you start thinking of the broader issues, a lot of this is very troubling," said Joseph Battipaglia, chief investment officer at Ryan Beck & Co "We have in front of us a recession in the general economy, the consumer is dramatically retrenching their habits by cutting spending, and our financial system has sputtered. This isn't necessarily a confidence builder because now everybody knows how precarious the financial system really is." Reality is starting to seep into the MSM!! http://news.yahoo.com/s/ap/financial_meltdown_markets Link to comment Share on other sites More sharing options...
shorty Posted September 29, 2008 Report Share Posted September 29, 2008 $700 Billion is one helluva chunk O' change don't fade that sheet Link to comment Share on other sites More sharing options...
Brisbane Bear Posted September 29, 2008 Report Share Posted September 29, 2008 WE ARE DOWN 100 POINTS NOW. I expect this is a shakeout to panic the last of the sheeple out of their longs. They have been shredded in recent months. I agree that $700 billion is a lot of money. I wouldn't fade the pigmen in this environment especially when they keep changing the rules in the middle of the game... Link to comment Share on other sites More sharing options...
MrHanky Posted September 29, 2008 Report Share Posted September 29, 2008 $700 Billion is one helluva chunk O' change don't fade that sheet 693497[/snapback] IF it gets passed,it will be $250 bill to start....And would take weeks if not months before it really hits the tape I would guess. I don't think we rally much from here no matter how much it is.But I sure as heck would not go short right now Link to comment Share on other sites More sharing options...
Jimbo Posted September 29, 2008 Report Share Posted September 29, 2008 FICTITIOUS CAPITAL As doc said easy credit created a mountain of fictitous capital which is now being removed by the magic of the market. Government intervention is merely designed to slow this process down by throwing massive amounts of taxpayer funds to keep the balloon inflated. To convert your fictiious gains to tangible ones you have to exit the system. Which a lot of people did by HELOCING the money out and going on a gigantic Chinamart spending spree. But most decided to double or nothing ... and are now getting nothing. Link to comment Share on other sites More sharing options...
Peek Paper Posted September 29, 2008 Report Share Posted September 29, 2008 You are short dollars when you borrow dollars and buy something (anything) that is not positively correlated with dollars. 693492[/snapback] buy gold with a credit card ... Link to comment Share on other sites More sharing options...
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