Skip to comments.Larry Kudlow of CNBC Reporting of Emergency Federal Reserve Meeting Tonight
Posted on 07/23/2002 5:11:52 PM PDT by rumrunner
Larry Kudlow mentioned that the Federal Reserve may be meeting tonight to discuss the exposure of Citibank and JP Morgan Chase to derivatives and the stock market collapse.
Possible that both banks have billions of derivatives that need to be unwound. Would collapse the banking industry.
This little gem is not for charter at this time, it was just launched in 2000. It's German, 244 feet long, goes 38 knots max (that's REAL fast) and has a 2500 nautical mile range. There are hundreds more megayachts like her and even better out on the world's oceans today.
During the 1990s there has been an incredible unprecedented boom in the construction of megayachts. One hundred footers no longer even qualify: "megayachts" now start at 150 feet and go WAY up. These yachts make the yachts of the 1920s and 1930s seem like bathtub toys. The interiors are literally gold and marble and silk and exotic woods.
During the 1990s entrepreneurs and funny money men went on a yacht building binge orders of magnitude beyond anything ever seen in history. It's as if they saw the bubble stretching and getting ready to burst and wanted not only to move assets overseas, but to get ready for a life of luxury on the lam.
Folks in this strata don't worry about the fallout of the 1990s affecting them, and they have been able to pull powerful politicos into their orbits by arranging "vacations" and junkets on their little toys in exotic ports.
True. The lying media is our biggest nemesis. They're the one's that make all this possible by not doing their job for 8 years and even contributing to the crimes by covering for them.
Better stick to the river, only two types of folks in Pacific and Grays Harbor: Those who work in Indian Casinos and former loggers who are on government support (for the 20th year or so) because it keeps coming and they haven't been able to log for a generation (ever since the hippies came and started worshipping trees and spotted owls).
True, people love lies.
That's exactly what they're counting on. Only this time, the sheeple are in for a nasty surprise as Operation Full Socialism kicks into high gear.
Please expand on your opinion. Did ya check the chart, etc?
It does appear that First Community is rather healthy (they have a decent EPS, and they do pay a dividend). The history of their price spikes and subsequent crashes worries me some. It seems each time it climbs to a peak (which is done quite quickly), it bottoms out just as quickly and sits there a while.
If you can wait, I'd wait until the effects of Citigroup/JP Morgan are known. If they're not too bad, and you've double-checked their books, then the stocks seem to be a good option. If you can't wait, or the entire banking industry really gets shaken, or the books don't smell quite right, take the money and run.
You know stock market has declined rapidly in last few weeks. Everyone knew that stock market was tremendously over-valued as price/earnings ratios were and still are far far higher than historical norms. So, a correction was expected. But if stock market goes back to historical ratios of stock price to earnings (company's income), then it will still decline another 30-40%. It is unlikely that decline will go that deep because people have a lot of money nowadays to invest and they have to put it somewhere. But still, we don't know where it will stop declining. This is compounded by the fact that the average company listed on the stock market is heavily in debt. I read that their average debt is 75% of their value, whereas historically the big companies listed had only 40% of their total value in debt. So, when their stock prices decline, then it looks like for many their total company value will be less than their debt. I would think that this could spell bankruptcy for a significant number of companies. Today AT&T reported that they lost 12 billion dollars in only 3 months time. Evidently, AT&T has been lying for a long time about their financial condition, their executives are coming clean now because of new legislation that may be passed that will throw them in jail if they continue to lie. So, a number of companies are now under pressure to come clean.
But what has apparently triggered the meeting tonight is that CitiGroup? and JP Morgan, 2 very very big banks, have made a lot of very bad loans to enron and other companies that are going under. It seems that without government intervention these huge banks will go bust. If they go bust, and all of this drama is allowed to unfold, like dominoes company after company and bank after bank will fold, then we will certainly have a depression similar to 1930's.
Alan Greenspan and his friends at the federal reserve have some plan for heading this off, that's what the meeting is about. The federal reserve has the power to create money. Most likely they will simply create a lot of money and give it to these big banks. Printing money out of thin air and giving it to some people means that everybody else's money becomes less valuable in real terms. Corruption is simply being normalized on a grand scale and even further institutionalized, that's what's going on tonight at the big meeting ElisabethInCincy.
Absolutely NO ONE banded together, to form their own country / overthrow this one, during the Clinto years, and they won't do so now . This kind of talk, makes FFR look far worse, than our enemies claim that it and we are. Not only is it KOOK and tinfoil gibberish , it is patently juvenile, purile, and bordering on the insane.
Well, you're taking my post a little too serious, but yes there are conservatives and liberals scattered everywhere but in some areas of the country one outnumbers the other, causing states to be won or lost. Every election, I get to go out and vote for a Republican only to come home and see the damned state has already been called for the Democrat because they count just a few districts in labor union Chicago and can tell that our Republican counties down south here have already been outnumbered, and they haven't even counted any county from down here yet. It's always one of the first states to be called.
Absolutely NO ONE banded together, to form their own country / overthrow this one, during the Clinto years, and they won't do so now .
I didn't say they did. It was just a fun mental excercise between a few of us.
This kind of talk, makes FFR look far worse, than our enemies claim that it and we are. Not only is it KOOK and tinfoil gibberish , it is patently juvenile, purile, and bordering on the insane.
I wonder if the royalists said the same to Paine and the others when they got all bent out of shape over a 4 cent tax. My views haven't been represented in Washington since the 1920s. We had one president (Reagan) that may have tried to cut government but government ended up growing even more during his term because of the 24-7 lies and propaganda against him from the media and the politicians based in the areas I pointed out. Every year since FDR taught people how easy it is to vote oneself other people's money, we've been having to pay for the livelihood of more and more parasites every year. By parasites, I don't mean the handicapped, I mean liberal art students, lawyers, welfare queens, drug addicts, prison inmates (they should work while they're being punished), bureaucrats, permanent students, etc. And now Clinton and his gang lost trillions of the taxpayers money (because we're going to cover the losses) to make billions for themselves. That's trillions with a "tr"! How much more of this propaganda-driven crap is going to go on before something radical happens? I won't start it, but I know where I'll go if it starts. Look at a Rand-McNally road atlas book. Look at the western states. Look at how much land the federal government now owns. Every year a higher percentage of the population works for the government living off fewer and fewer of us in the private sector. That is a slide toward socialism. Do you think this can go on forever? At what percentage do the producers say "Enough!"? Every day I have to listen to lies from TV, the Networks, Hollywood and the media about conservative principles. These liars are based in a small geographical area...LA, New York, and Washington DC.
Do you ever get tired of financing the enemy?
You and the rest of the tinfoil crowd, who pop up every so often, claiming that there's going to be an " insurrection ", or every Conservative should / will move someplace else, just gives our enemies reason to ridicule us. It's baseless , banal, juvenile, purile, totally meritless, and if you think it's fun, then don't wait, go out and do it. Otherwise, all you are doing, is making a fool of yourself and doing harm to this site. Is this what you REALLY want to do ? Think about it. :-)
I know what you mean. My mom had a government worker come to her house to look it over to see if he could give her a check for house repairs. Some kind of beautification fund or something. My mom's a Democrat but even she thought that was a waste of taxpayer money.