A FReeper was explaining this to me the other day. I started researching what it all meant... and it scared the hell out of me.. 42-60 trillion dollars? Up from 29 Trillion dollars from Dec 2006?
The gears of the machine? Where are they now?
To: Porterville
everything bad happened during Clinton's administration....
there was no BOOM for most of us....maybe if you were heavily invested in the stock market but most people are not.....
and as it turns out, more and more of those "gains" were based on an illusion....
everything bad started with Clinton...
2 posted on
09/27/2008 9:16:27 PM PDT by
cherry
To: PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; GOPJ; dervish; ...
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4 posted on
09/27/2008 9:19:16 PM PDT by
rabscuttle385
(No to bailouts, no to amnesty, no to carbon credits, no to Big Government!)
To: Porterville
They are inventing money.
Isn’t that the domain of the Treasury?
One difference — the Treasury has to follow laws and regulations and such.
5 posted on
09/27/2008 9:22:21 PM PDT by
Shermy
To: Porterville
Finally someone telling it like it is. We are in that much debt. The subprimes were just the trigger. If we pour more debt on watch out. The whole thing will unravel.
6 posted on
09/27/2008 9:22:34 PM PDT by
freekitty
(Give me back my conservative vote.)
To: Porterville
It’s like the government is running itself.
7 posted on
09/27/2008 9:23:17 PM PDT by
freekitty
(Give me back my conservative vote.)
To: Porterville
Stinks to high heaven doesn’t it!!!
11 posted on
09/27/2008 9:28:35 PM PDT by
org.whodat
(Republicans should support the SAM Walton business model, and then drill???)
To: Porterville
To: Porterville
Under a CDS, a bank originates loan to a company. A second bank (or other financial institution) can agree to cover the credit risk for the loan, by agreeing to make payment to originating bank if the company defaults on the original loan. The originating bank pays a small insurance premium to the second bank for assuming the risk of the loan. Sooo... what happened to the insurance they paid a small premium on?
19 posted on
09/27/2008 9:40:55 PM PDT by
OCC
To: Porterville
Here is the official Bank of International Settlements credit derivative data for 2007 by class of derivative....these are pdf files, and, take a little time to review...they will astound...http://www.bis.org/statistics/derdetailed.htm
21 posted on
09/27/2008 9:41:36 PM PDT by
givemELL
To: Porterville; TigerLikesRooster; ex-Texan
Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York. ~~"Only Yesterday: An Informal History of the 1920s" by Fredrick Lewis Allen
24 posted on
09/27/2008 9:47:12 PM PDT by
Travis McGee
(--- www.EnemiesForeignAndDomestic.com ---)
To: Porterville
To: Porterville; Shermy; joanie-f
It appears that the present mortgage finznce crisis is the tip of the iceberg...
...and this is the iceberg.
And are all these insurers “American” entities?
Anyone? Anyone?
31 posted on
09/27/2008 10:38:25 PM PDT by
unspun
(Tell the truth about Obama to all you know.)
To: Porterville; Shermy; joanie-f
It appears that the present mortgage finznce crisis is the tip of the iceberg...
...and this is the iceberg.
And are all these insurers “American” entities?
Anyone? Anyone?
32 posted on
09/27/2008 10:38:25 PM PDT by
unspun
(Tell the truth about Obama to all you know.)
To: Porterville
don’t worry bailout is the answer for everything...
39 posted on
09/27/2008 11:05:15 PM PDT by
Tempest
(http://www.youtube.com/watch?v=gNlXgzzdJQA)
48 posted on
09/28/2008 12:59:07 AM PDT by
JDoutrider
(Pray for our side!)
To: Porterville
If this is the case then we are headed towards World War III--and this time NOBODY on Earth will be safe because of missiles that could hit almost anywhere on Earth within 30 minutes after launch. A collapse towards post-Roman Empire barbarism is no longer such a far-fetched idea, as the human race may have to collapse to a tiny fraction of its current population--possibly way less than the 500 million some conspiracy theorists bandied about--for it to survive in the long run.
To: MurryMom
The first true credit default swap was carried out as late as 1995,Dubya's fault? I doubt it...
53 posted on
09/29/2008 7:19:20 PM PDT by
Libloather
(September is Liberal Awareness Month.)
To: Porterville
That's the private debt. Check out the public one too:
Senator GREGG (May 21, 2008) Remember: Probably the biggest threat we face as a nation--fiscal threat--in fact, the biggest threat after, in my opinion, the threat of Islamic fundamentalism and the terrorists using a weapon of mass destruction against us--is the impending economic meltdown of this country as a result of the burden that our generation, the baby boom generation, is putting on the next generation through the entitlement accounts. There is $66 trillion of unfunded liability, $66 trillion--a huge number. Nobody knows because it is hard to define what $1 trillion is. But if you take all the taxes paid since the beginning of this Republic--I think you are talking about something like $37 trillion--and if you take all of the net worth of the American people--all their cars, all their homes, all their stock--and add it together, you come up with something like $45 trillion.
Check too, the budgeted revenue for running the US government. The budget plans HUGE increases in revenue - increases that depend on maintaining a "value bubble," or else the income and resulting economic activity and taxation will not materialize.
Congress is eventually going to lose its grip on the economy. It is inevitable. None of the current occupants want to be there when it happens.
59 posted on
09/30/2008 10:17:50 AM PDT by
Cboldt
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