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#271 I_Am_Madness

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Posted 12 November 2007 - 12:32 AM

Back above 13K on YM.
HangSeng LOD>
Stop the Madness

#272 shorty

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Posted 12 November 2007 - 12:42 AM

Burned-Out Stucco McMansions Give Boost to Shank MexDiego eCONomy

"If we get about 3,000 burndowns per year, that'll keep our business going strong," said Sparky Anderson of Fiendicks Construction Conpany. "I mean, uh....not that we're hoping for that, of course. These jobs.....er, I mean these terrible freak accidents....were real tragedies, very sad, a real shame." <_<

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#273 fanatic

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Posted 12 November 2007 - 12:51 AM

Isn't anyone worried that the obvious path appears to only be straight down hlll?

#274 lineup32

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Posted 12 November 2007 - 12:56 AM

Burned-Out Stucco McMansions Give Boost to Shank MexDiego eCONomy

"If we get about 3,000 burndowns per year, that'll keep our business going strong," said Sparky Anderson of Fiendicks Construction Conpany.  "I mean, uh....not that we're hoping for that, of course.  These jobs.....er, I mean these terrible freak accidents....were real tragedies, very sad, a real shame." <_<

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I wonder what the fire insurance rates will move too, I know Allstate was moving out of state i believe ,and the Gov is setting up a task force to study the whole issue of building burbs out in the fire danger areas. Just a guess that fire rates become sky high similiar to the insurance problems in Florida.

#275 shorty

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Posted 12 November 2007 - 01:21 AM

Burned-Out Stucco McMansions Give Boost to Shank MexDiego eCONomy

"If we get about 3,000 burndowns per year, that'll keep our business going strong," said Sparky Anderson of Fiendicks Construction Conpany.† "I mean, uh....not that we're hoping for that, of course.† These jobs.....er, I mean these terrible freak accidents....were real tragedies, very sad, a real shame." <_<

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I wonder what the fire insurance rates will move too, I know Allstate was moving out of state i believe ,and the Gov is setting up a task force to study the whole issue of building burbs out in the fire danger areas. Just a guess that fire rates become sky high similiar to the insurance problems in Florida.

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Doesn't matter.

George Bush has decreed that YOU (the taxpayer) will pay whatever the cost to rebuild these showplaces, if the insurance does not cover it all. :angry:

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#276 shorty

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Posted 12 November 2007 - 01:24 AM

Those who were responsbile and bought adequate insurance Shall be punished; those who did not Shall be rewarded, YOU Shall pay to rebuild their homes.

Those who who were prudent and paid higher interest rates for fixed mortgages Shall be punished, they Shall get no aSSistance from the gov't; those who were reckless and enjoyed multi-year teaser rates Shall now also be granted gov't backed fixed mortgages at lower rates than those locked in by the prudent.

Those who bought a house they can afford and paid it off Shall be punished; those who "bought" (rented from the bank) a house they cannot afford and lived in it six more months without paying before finally being booted out Shall be rewarded, their short sale tax obligation Shall be waived by the IRS.

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#277 lineup32

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Posted 12 November 2007 - 01:35 AM

Seoul composite down 3.75% and the Taiwan down 3.35% tonight. Those are pretty big moves for those and heavy toward Tech issues.

#278 beardrech

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Posted 12 November 2007 - 02:44 AM

Of course I agree. But I disagree with what Paul suggests is the cause.†

Of course, the dollarís decline is a factor of too many dollars and too many dollar denominated assets in the market place. But the Fed did not create all that fictitious credit that turned into money when it was packaged up as a CDO and sold to a SIV that used it to back commercial paper that went into your money market fund, and ended up in your account. The Fed didnít do THAT. Wall Street did it.


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And you think that the Fed's lowering interest rates to 1% had NOTHING to do with the drive to create CDOs and SIVs, as it fostered extreme financial engineering to chase yield....you really believe Wall Street pulled this off all by themselves???

I personally believe the Fed bears a great deal of the responsibility for the mess we find ourselves in today, them and a whole bunch of idiot institutional managers that were blinded by greed and had no clue what toxic crap they were buying.

Things never change...wash, rinse, repeat through the eras.

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I do believe that the Greenspan Fed was responsible for that. In 2002 and 2003 the Fed was expanding its asset base by 7% annually. That was unprecedented and it was one of the primary causes of rates falling as low as they did. The Fed began to slightly pull in the reins of its asset base expansion in 2004 to a rate of around 5%. After Greenspan retired, Bernanke further lowered the growth rate of the SOMA to around 3.5% annually.

All I am saying is that we should not lay the blame on Bernanke. He has at least been acting more responsibly than Greenspan did. Greenspan was a self promoting apologist and is a historical revisionist. Bernanke, while he may not be the libertarian's vision of the perfect Fed chairman (which is to say, none), has been a lot better than any of what the strident Fed critics give him credit for.

I have no ax to grind here. I don't have a dog in this fight. All I want to do is identify the facts, analyze them and report what I find. In that context, it is my opinion that Bernanke is not to blame for this mess. In my view, he has made some attempt to be a responsible central banker. He has a nearly impossible job, and I don't think that he can succeed at holding the system together so that it can muddle through the collapse. I think that the implosion is beginning and it can't be stopped.

So yes, I do believe that Greenspan's policies were responsible for this mess. But I also see that the Fed has behaved differently under Bernanke and that change in behavior leads me to believe that Bernanke has been trying at some level to rectify the egregious excesses of his predecessor. Unfortunately, he is doomed to failure, and he is likely to be unfairly reviled in his time. Bernanke will probably be remembered as the Hoobert Herver of our time. I actually feel sorry for the poor bastard. He is being called on to clean up an incredible mess, one that is likely to leave a barren landscape in its wake.

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Vieta , a renaissance Italian mahematician introduced a number of mathematical synbols (=equal sign among others) that resulted in savings of cognitive energy beyond measure.. Symbols are like computers in miniature and despite their apparent minuteness are reall historical giants in terms of propelling advancemenet in thinking

So why is Mises term missing from all chambers of discourse? I mean of course the summarising symbol,or term "WILDCAT BANKING"?????

Which essentiallY covers most of the institutions responsible for runaway lending and hypertrophic expansions of liquidity.....The Fed,Sears,Citi ,MeRREL LYNCH,GS and all the subsidiary banking vermin that now claim to be victims..

All of them were enabled by passive spectatorialism of G'spahn's Fed : his non-utilization of a dozen non IR or non-Monetary "RULES" could have stopped the expansion in its tracks...

But suffering from some form of financial aphasia he couldn't recognise and therefore couldn't respond to the rabied fanatical Bubblistic enthusiasts...thus doing double duty: GIVING THE MADMEN LICENCE TO PILLAGE AND TWO, HIMSELF SELF-EXCULPATORY PRIVELEGE FOR CLAIMING INNOCENCE

BEARDRECH :ph34r: :ph34r:

#279 Whadda I Do Whadda I Do

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Posted 12 November 2007 - 03:18 AM

If we advertise the US as a fantasy land adventure the sudden influx of vacationers from abroad could help save our economy. A land of survivors to view. Lots of ghost towns to visit. People attempting to live without water an attraction. Tours sponsored by the EPA of vast mineral deposits.......

Go ahead, void the warranty...


#280 Jimbo

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Posted 12 November 2007 - 05:07 AM

WHEN THE MARKET CEASES TO IGNORE

Market has ceased to ignore impact of subprime on Fannie and Freddie

I think they are kaput.

The market has cycles of belief and reality just as it has cycles of bull and bear.

Cant say it will look good for fannie and freddie paper.

But , i still thing the second shoe to drip will be the inflatulence bond sell of scenario

In fact I will state here that much more will be lost in bonds over the next few years than in stocks.

In stocks most or all of the carnage in the next few years will be confined to the financials and retailers and retailers will do better than financials.

US stocks should do OK especially manufacturers and exporters.
timoleon

#281 Jimbo

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Posted 12 November 2007 - 05:36 AM

HOT IPO

Visa

Also UNILEVER is cheap and is going up sells for 5 times cash flow.
timoleon





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