Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!
|
 whattheheck
Chief Love Lover
Registered: 06/01/07
Posts: 7,380
Loc: Denver Colorado
|
 Is this sucker going down? 
#9046363 - 10/08/08 03:23 AM (3 years, 7 months ago) |
|
|
Well, is it??
--------------------
A society whose whole idea is to eliminate suffering and bring it's members the greatest amount of comfort and pleasure is doomed to be destroyed -Thomas Merton
|
gettinjiggywithit
jiggy
 
Registered: 07/20/04
Posts: 7,469
Loc: Heart of Laughter
|
 Re: Is this sucker going down? [Re: whattheheck]
#9046893 - 10/08/08 08:55 AM (3 years, 7 months ago) |
|
|
Quote:
whattheheck said:
Well, is it??
No-one knows yet because the record keeping for credit swaps is slow going. It depends on just how much Global Capitalists have recently lost trading hedge funds.
As an assistant editor from Forbes put it, they trade in a parallel universe and their Universe has crashed. He said over the coming time, we will see the impacts of it hitting our own and he wasn't sure how bad it would be.
I think our economy has been more falsely propped up then anyone realizes. It has been largely supported by a handful of gamblers playing with highly leveraged bluffs at times and the chips are being called in now.
Don't we all wish we had a crystal ball. 
Whoever was playing the house in this game of cards holds all of the strings right now.
Because that world is unregulated, I don't even know if there is a way to know who that is.
For a while, it looks like us economic slaves were worth more to them while they kept our boat floating. Looks like they decided we were now worth more, by sinking our ship and cashing in on the boat insurance.
In the coming days, people will be sinking or learning how to swim really fast, unless life boats come from somewhere. Something tells me, the HOUSE, will be offering them, in exchange for something else from us.
What that trade will be, I haven't figured out yet.
--------------------
Ahuwale ka nane huna.
|
whattheheck
Chief Love Lover
Registered: 06/01/07
Posts: 7,380
Loc: Denver Colorado
|
|
Thank you. I'm just trying to wrap my mind around this whole thing. I figured, that for the first time in my life, I had to take W at his word.
What a mess.
--------------------
A society whose whole idea is to eliminate suffering and bring it's members the greatest amount of comfort and pleasure is doomed to be destroyed -Thomas Merton
|
axis_bal
Stranger
Registered: 09/07/08
Posts: 196
|
Re: Is this sucker going down? [Re: whattheheck]
#9047645 - 10/08/08 12:08 PM (3 years, 7 months ago) |
|
|
|
gettinjiggywithit
jiggy
Registered: 07/20/04
Posts: 7,469
Loc: Heart of Laughter
|
Re: Is this sucker going down? [Re: axis_bal]
#9048103 - 10/08/08 01:38 PM (3 years, 7 months ago) |
|
|
Quote:
axis_bal said:
wall street's shadow market
That's what I was talking about- the credit default swaps. Please watch that everyone.
What Bush and co are trying to do with the bailout money, is buy up the bad debt, with our money, before the investors of these bundles go to collect on their "insurance" and wipe out ALL of the banks who offered it.
This is a bail out of those who made high risk bets, insuring a crappy product, without the ability to pay up if they lost the bet.
This is why no one really knows how bad it is or is going to get. Even if we buy up the current bad bundles, how many more are yet out there that are going to go belly up over the next several years? No one knows. For as long as it keeps happening, the buyers of these derivatives that also bought the swaps, are going to want to collect from the banks that sold them and more banks may go under through the following years.
No one knows.
--------------------
Ahuwale ka nane huna.
|
alices_poppies
cornchip
Registered: 09/30/08
Posts: 494
|
|
| |
|
|
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, Wiccan_Seeker, ZippoZ, automan
504 topic views. 0 members, 0 guests and 0 web crawlers are browsing this forum.
[ Toggle Favorite | Print Topic ]
| | |
|
|
|
Previous
Index
Next
Threaded
Edit 
Reply 
