Posted on 03/16/2008 6:52:34 PM PDT by Ernest_at_the_Beach
WOW, over here in Tokyo as I Freep, the US dollar is getting kicked to the sidewalk; it is now 96 Yen to the US Dollar. 10 p.m. Eastern Time Sunday night.
I don't think I have seen these levels in 12-15 years!
Well, there goes Hawaiian real estate! Visiting Japanese in limos will be putting down hard cash, 100% of the sales price, after just driving by condos that meet their fancy, parking the car (with the engine running) and negotiating with the owners directly, paying with Yen-based traveler's checks on the spot. Talk about "bargain basement." YIKES.
Bear Stearns was a very big player in the Sub Prime Mess....they needed to be taken out!
Ever since the DemonRats took over, the economy has gone down. It's all THEIR FAULT!!
“Im going to get out early tomorrow morning so I can claim the best corner for my apple stand.”
I already took the prime corners on Friday. But I am selling pencils
Maybe you should cash out in Japan and move to Hawaii....
Man the pumps!
I hope you're not selling those crappy saw dust pencils. Mine are solid wood and far more superior.
The bailout is in the rates. In 1998 for example, the LTCM bailout was relatively minor, a couple billion, but the rates were lowered by 0.75 which reignited the Nasdaq bubble and made the 2000 pop much worse. The other direct effect of 1998 was that was when the subprime mortgage security market was rescued (as it was about to die).
They used to tell me I was building a dream, and so I followed the mob,
When there was earth to plow, or guns to bear, I was always there right on the job.
They used to tell me I was building a dream, with peace and glory ahead,
Why should I be standing in line, just waiting for bread?
Once I built a railroad, I made it run, made it race against time.
Once I built a railroad; now it’s done. Brother, can you spare a dime?
Once I built a tower, up to the sun, brick, and rivet, and lime;
Once I built a tower, now it’s done. Brother, can you spare a dime?
Once in khaki suits, gee we looked swell,
Full of that Yankee Doodly Dum,
Half a million boots went slogging through Hell,
And I was the kid with the drum!
Say, don’t you remember, they called me Al; it was Al all the time.
Why don’t you remember, I’m your pal? Buddy, can you spare a dime?
Once in khaki suits, gee we looked swell,
Full of that Yankee Doodly Dum,
Half a million boots went slogging through Hell,
And I was the kid with the drum!
Say, don’t you remember, they called me Al; it was Al all the time.
Say, don’t you remember, I’m your pal? Buddy, can you spare a dime?
Out come the chicken littles.
I won’t wax personal personal here, but let’s just say Plans B, C, and D are all in place for ol’ AiT. Sheesh. What a day.
Bear Stearns Racing Toward Selling Itself to JPMorgan ( Fed driving the deal before Asia Mkt opens)
He talks about Greenspan setting up these bubble's.
Ain’t it past your bedtime?
You kidding? This is my prime time.
>> when the dust has settled and we read about all this, I suspect you might actually feel different about the Feds actions.
What I expect to see are the financially irresponsible breathing a HUGE sigh of relief... “Way to go Helicopter Ben! You da man! Bail me out and inflate my debt away BABY!”
And another (probably smaller) group... responsible folks who didn’t join the go-go speculation craze... who had little or no debt and cash. Cash that is now worth less, if not worthless. Do you think those of us in that category will also “feel different” about the Fed’s actions?
You get what you reward. Ben Bernanke is rewarding the profligate and the irresponsible. Tell me... can this go on forever? The bubble is dead, on to the next bubble? Leaving the taxpayer and the financially responsible to clean up on Aisle 9 while the speculators move on to the next party?
Is this a good long term strategy for the financial health of the US?
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