Posted on 10/10/2008 9:12:38 AM PDT by Danae
New World Order, at last.
When do they start offering the mark of the beast so we can buy and sell????
If Obama is elected, look for nations to come together and beg Obama to take control of the world's markets.
It makes sense. Look at how all of Europe is absolutely insane about Obama. Add that to his radical ties here and the cult like following he has... this man is evil.
The EU leaders are being schooled in the difference between a confederation and a nation.
Interesting. I had debate- got a little heated- with my cousin last week. She’s a big commercial paper banker in Manhattan- and I kept talking about Fannie/Freddie and the housing bubble that was based on lies but made billions of $ for some. She honestly wasn’t seeing the connections between liberal policy and the road to King Henry.
She was convinced that when we started seeing the Lehman CDS today there would be at least 30% value. I read a little while ago that Lehman is showing 9 3/4 % on the dollar this morning.
Wonder what she’s thinking right about now..
This is old news. European financial markets have basically shut down for the week (since Germany capitulated to protectionism last Sunday).
Not really, people who bought hard assets like real estate with leverage would come out way ahead. OTOH, pension plans, life insurance, annuities, or anything else that was based on those payment streams would cease to exist.
Let the market work. The reason there is no credit available is because there is uncertainty, largely because the market doesn't know what governments are going to do next, and because of the fear that markets haven't reached a stable point yet. The only way to start working our way out of this situation is to let the market reach equilibrium, whether that's at 8000, 5000, or 2000. Anything else is just prolonging the pain, and postponing the day when recovery can begin.
A trade federation made a lot of sense for them, protectionism made no sense over there. But their common currency is now a common boat anchor because they can’t inflate it to help their own countrymen. So instead they are forced to stiff the creditors in other countries to protect depositors in their own. The whole thing fell apart last week culminating last sunday with Germany (they will be one of the winners).
OBAMA unity says:
1 world currency
1 world religion
1 world leader
(O)BAMA the ONE.
What markets are you talking about? If they are closed they don't exist.
Right - my point exactly. A trade bloc makes sense — the common currency without having only ONE nation under that currency does not make sense.
As a result, when the crap hits the fan (as it clearly is now), the individual member nations pursue purely nationalistic defensive measures, even if it beggars their neighbors.
Witness Germany’s actions this past week...
We defeated the Soviet Union. Then we became them.
Ain’t Globalism Grand!
If you think that will work, why not just close them anytime there is a hint of a drop?
Just bc they are not open does not mean people will not reassess the value of equities.
Since debts are the assets of banks that would wipe out all banks, all bonds, and all government bills and notes. Not the best plan.
Yeah, that will work./sarc
If the banks all forgave the debt of every homeowner and auto loan borrower they wouldn’t have any capital to lend. No one would lend money anymore. The entire market would collapse. Not to mention that the money the banks lend out is actually the deposits they are holding for you and me. If every bank forgave the debts they are owed, then we would no longer have any money in our checking and savings accounts. The FDIC would be unable to pay every American for their lost depository accounts and poof.... financial armageddon.
Oh, come now, that’s just pessimism speaking. :)
No, see, the banks wouldn’t owe other banks. They wouldn’t even owe the coffee shop tabs for their employees.
Everybody starts at zero!
ONLY THE STRONG SURVIVE!!!
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