Global Financial Crisis (28 Viewers)
- Thread starter Dostoevsky
- Start date
I'm not trolling you. I simply can't stand whole pussy attitude towards the folks that keep causing problems in the economy. I'm not living beyond my means, neither is my family, yet we have folks like you claiming it's our fault for the problems we face, or it's my neighbor's fault. Sorry, but it's complete bullshit. This whole economic fiasco was set alight by the government, central bank, and the clowns on Wall Street who never do the right thing and essentially bet against the middle class. Sorry, but they deserve ALL the blame because their policies allowed the housing bubble to occur, the huge current account deficit we face, and the downward pressure they push on our currency.
Savers vs. speculators. I don't get a fucking bailout if I buy a bunch of oil contracts right now and the price plumits another 5%, but the bankstains do.
I'm not sure if the current situation will be worse than the Lehman implosion of 2008, but it sure does feel like it will. Lots of economic punDICKS on CNBC are trying to blame the EuroZone banks and Italy for this mess, but there is a lot more to it than that. SocGen and Unicredit appear to be insolvent, those are two massive institutions. Italy CDS has gone through the roof and they will "need" a bailout. With S&P downgrading our sovereign credit to AA, that means lots of municipal bonds should be downgraded as well because they are only as good as their parent, the federal government. Bank of America was down 20% today partly due to AIG issuing a lawsuit against them, but mostly because the market is questioning their capital plan which is probably shit anyway. S&P also downgraded Freddie and Fannie to accompany their US downgrade because since they're owned by the government, their credit is only as good as the government's.
I mean, there isn't a place in the world economy where at least some cockroaches are crawling into various crevices -- and this isn't even counting all the horrendous data we have seen recently in manufacturing and employment that will obviously be worsened as confidence deteriorates.
Tomorrow we will be graced with the policy announcement of the omnipotent and omniscient cocksuckers of the Federal Reserve. The problem for them is they are out of options. Or hell, they've only had one option, and that is to flood the system with money. But all of the gains in equities during QE2 was just wiped away in a matter of days and if he pulls that shit again the dollar is going to get creamed at the same time as S&P downgraded our asses. So if they try that, they will once again demonstrate why they all need to be hanged.
Diversify. Don't get rid of all the dollars, but buy some other currencies like the Swiss Franc.
guess who washington is blaming for the crisis, here's a hint rossi plays for them
Did you notice this lunacy?
http://www.cnbc.com/id/44065072
So the government is going to ban people downgrading US credit? And folks wonder why this idiotic government receives so many comparisons to the Soviet Union.
Savers vs. speculators. I don't get a fucking bailout if I buy a bunch of oil contracts right now and the price plumits another 5%, but the bankstains do.
I'm not sure if the current situation will be worse than the Lehman implosion of 2008, but it sure does feel like it will. Lots of economic punDICKS on CNBC are trying to blame the EuroZone banks and Italy for this mess, but there is a lot more to it than that. SocGen and Unicredit appear to be insolvent, those are two massive institutions. Italy CDS has gone through the roof and they will "need" a bailout. With S&P downgrading our sovereign credit to AA, that means lots of municipal bonds should be downgraded as well because they are only as good as their parent, the federal government. Bank of America was down 20% today partly due to AIG issuing a lawsuit against them, but mostly because the market is questioning their capital plan which is probably shit anyway. S&P also downgraded Freddie and Fannie to accompany their US downgrade because since they're owned by the government, their credit is only as good as the government's.
I mean, there isn't a place in the world economy where at least some cockroaches are crawling into various crevices -- and this isn't even counting all the horrendous data we have seen recently in manufacturing and employment that will obviously be worsened as confidence deteriorates.
Tomorrow we will be graced with the policy announcement of the omnipotent and omniscient cocksuckers of the Federal Reserve. The problem for them is they are out of options. Or hell, they've only had one option, and that is to flood the system with money. But all of the gains in equities during QE2 was just wiped away in a matter of days and if he pulls that shit again the dollar is going to get creamed at the same time as S&P downgraded our asses. So if they try that, they will once again demonstrate why they all need to be hanged.
Diversify. Don't get rid of all the dollars, but buy some other currencies like the Swiss Franc.
guess who washington is blaming for the crisis, here's a hint rossi plays for them
http://www.cnbc.com/id/44065072
So the government is going to ban people downgrading US credit? And folks wonder why this idiotic government receives so many comparisons to the Soviet Union.
Futures getting trashed once again. Down over 2% on the S&P futes and almost 6% in crude. The latter lost about 10 bucks in two days, that's a fucking nasty decline that I'm sure knocked a few people out of the market. Hopefully it fucked some bankers, too. Bunch of stops probably got taken out around 80.
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And this is the sort of picture I've been worrying about. This is the mother of all head and shoulders patterns, spanning close to 20 years of trading. If we break that red trendline called the neckline, the target is around 400 on the S&P 500. If we break the March 2009 low of 666 there really isn't any support until you get down to 400 anyway. So if this were to confirm, hold your assholes, because the world would be three times as crazy as it is already.
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Ok as I said, I don't think you've really read my posts. Please don't start typing already and continue reading, it'll only take a minute. What I said was that you can't run around blaming one or two. To create a financial crisis a lot of people need to be involved and you can't blame one or two alone. I.e. I can't blame solely Bush or Obama administration I have to blame them both, pretty much every administration since the 60's and the standard set by a lot of people in the western world. I do however as I've implied for a long time now agree that company's, wall street etc is doing one major wrong doing that has deeply disturbing consequences for their environment (you and me and so on). Most people and company's still believe in calculations and that you can calculate risks. Risks can't be calculated because the world isn't predictable (for tons of reasons, I've already discussed this concept). The problem is that when their calculational mistakes finally escalates there's no turning back. Consequences such as we're facing today.
I'm not saying I disagree, what I've been trying to say that I understand why everyone is angry now. But they are only angry now because this has been coming for 50 years but no one has had the guts to say something now. Sure, blame everyone around you right now but don't forget to blame everyone before you as well.
It's like when I've been discussing Iran with people saying that the West has fucked up Iran and should be blamed. But, Iranian people has LET the western do it as well. They can't blame the west only, they have to see them self in the mirror as well and realize that they got fooled and mistrusted the wrong people. See were I am going? Please don't assume now that I think this is solely the American people's fault. If you've finally read my posts you should have realized by now that I am on your side only trying to widen the view.
I'm not saying I disagree, what I've been trying to say that I understand why everyone is angry now. But they are only angry now because this has been coming for 50 years but no one has had the guts to say something now. Sure, blame everyone around you right now but don't forget to blame everyone before you as well.
It's like when I've been discussing Iran with people saying that the West has fucked up Iran and should be blamed. But, Iranian people has LET the western do it as well. They can't blame the west only, they have to see them self in the mirror as well and realize that they got fooled and mistrusted the wrong people. See were I am going? Please don't assume now that I think this is solely the American people's fault. If you've finally read my posts you should have realized by now that I am on your side only trying to widen the view.
OP
It's too hard to do it, the pressure was too high I think. Lehman Brothers Holdings Inc. was the fourth largest investment bank in the USA and rating agencies told it's a great bank and everything but we've seen it collapse one year later. It was one of the biggest mistakes they did, and one of the huge reasons of economic crisis in 07/08, so I think they didn't have guts to leave the US as AAA at the moment. But yeah, it should've happened long time, as the US debt was always insanely large and it was to be expected, since that money cannot be returned. Making even bigger debts to come back to life was just retarded.
OP
Euro sucks too. It was horrible idea to get Euro as a currency when all other currencies were very credible and strong. I think it's wrong to think that Euro is a way to go, because there's gonna be a lot of mess in EU now with the current situation. If UniCredit blows and if ECB decides to buy Italy's and Spain's debt I think it's gonna become painful and it's going to hurt euro, while many banks can still become insolvent which can cause only more trouble.
He's not going to lose all if he stays with dollar, but he should diversify the risk and go into other currencies as well just to cover his back.
I think Swiss Franc and Yen are the way to go.
He's not going to lose all if he stays with dollar, but he should diversify the risk and go into other currencies as well just to cover his back.
I think Swiss Franc and Yen are the way to go.
It was a great idea. Germany got to lower it's currency by absorbing all the shit like Ireland and continue their export boom past it's natural peak.
Euro fails? the Deutsch-mark is going to rapidly appreciate, the USD won't. The yen would be a safer bet then, because German export growth will rapidly shrink.
Euro fails? the Deutsch-mark is going to rapidly appreciate, the USD won't. The yen would be a safer bet then, because German export growth will rapidly shrink.