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Offlinewiggles
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(Bad News) Bear(s) Stearns implosion
    #8146212 - 03/14/08 02:18 PM (16 years, 17 days ago)

http://www.foxnews.com/story/0,2933,337893,00.html

holy.
fucking.
shit.

I'm starting to get the feeling that this recession is going to be hitting us very, very hard. And we've seen nothing yet. They're using 1930's era tactics to try to combat things, and unlike the 1930's... its not working.


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You can turn your back on a person, but never turn your back on a drug, especially when its waving a razor sharp hunting knife in your eye.
Hunter S. Thompson

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OfflineGnosticWarrior
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Re: (Bad News) Bear(s) Stearns implosion [Re: wiggles]
    #8146400 - 03/14/08 03:18 PM (16 years, 17 days ago)

You know, I went to the library the other day to read up on investing in foreclosure properties. Even in that realm all the authors, seem to have the assumption that Real estate goes nowhere but up.

Its that assumption that created the whole bubble and all the credit derivatives based on that faulty assumption. I'd wait a long time before investing in anything related to the value of real estate. No one knows where the bottom is.

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InvisibleLunarEclipse
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Re: (Bad News) Bear(s) Stearns implosion *DELETED* [Re: wiggles]
    #8147086 - 03/14/08 06:56 PM (16 years, 17 days ago)

Post deleted by LunarEclipse

Reason for deletion: yn?



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Anxiety is what you make it.

Edited by LunarEclipse (03/14/08 07:07 PM)

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OfflineHelixx
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Re: (Bad News) Bear(s) Stearns implosion [Re: LunarEclipse]
    #8147196 - 03/14/08 07:21 PM (16 years, 17 days ago)

Government always decreases spending in order to create a small recession before an upcoming presidential election.

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Offlinewiggles
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Re: (Bad News) Bear(s) Stearns implosion [Re: LunarEclipse]
    #8149719 - 03/15/08 02:21 PM (16 years, 16 days ago)

Quote:

LunarEclipse said:
In response to
Poster: wiggles
Subject: Re: (Bad News) Bear(s) Stearns implosion

http://www.foxnews.com/story/0,2933,337893,00.html

holy.
fucking.
shit.

I'm starting to get the feeling that this recession is going to be hitting us very, very hard. And we've seen nothing yet. They're using 1930's era tactics to try to combat things, and unlike the 1930's... its not working.



How funny people still believe the Fed is "trying to combat things". All they are doing is trying to keep their buddies on Wall Street afloat by spending our tax dollars to bail out the banks. The more the ship sinks the more bailage. There aren't enough lifeboats to go around either.

Like the 1930s there is a "credit crunch". Unlike the 1930s where money supply was truly reduced, here we have massive injections of cash and a seriously tanking dollar.

A couple of nights ago on Fast Money they were talking about traders buying the Bear Stearns April 30 puts when the stock was around 60. Meaning the stock would have to drop by 1/2 in less than a month to make the puts go up in value and well guess what it did that today. Must be nice to have those insider connections to know when to buy those deep out of the money options that will go up tenfold in a couple of days when Bear Stears announces they are broke.

Bunch of crooks and it ain't close to over. Between the Federal Reserve and Congress they will have the dollar so screwed and debt so high hyperinflation is all but a guarantee in a few years.

Sell your stocks, buy food and toilet paper and keep lots of water on hand.




Actually, they are trying to combat things. When you're trying to get people to invest in your economy, you do it by telling them things will be ok and giving them money to do so. Having the 5th largest securities firm in the nation go under in a little less than a week due to liquidity issues is not a way to sooth the minds of already skiddish investors. At least, thats my understanding of why they did fed did it.


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You can turn your back on a person, but never turn your back on a drug, especially when its waving a razor sharp hunting knife in your eye.
Hunter S. Thompson

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InvisibleLuddite
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Re: (Bad News) Bear(s) Stearns implosion [Re: wiggles]
    #8150364 - 03/15/08 05:24 PM (16 years, 16 days ago)

When I was reading the Wall Street Journal Tuesday and other newspapers, there were articles about a lot of countries experiencing inflation. There was a phrase "from China to Chile everyone is trying to deal with inflation...". Mideast countries have the problem even with all the oil wealth. Iran has had high inflation for a while.

I'm watching a video tape of CNBC from Friday. There's a lot of talk about high commodity prices and some of them think food prices are going to be a lot higher 6-8 months from now. I just bought a 10 lb. bag of rice for $6.95. That isn't too bad. Its cheaper than oatmeal. I was thinking of finding out where I can buy food in bulk at a lower price per lb. Maybe in time a lot of people will be getting big bags of food from the Red Cross because they can't afford to eat, instead of sending it to North Korea and Africa.

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InvisibleLunarEclipse
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Re: (Bad News) Bear(s) Stearns implosion *DELETED* [Re: wiggles]
    #8150624 - 03/15/08 06:23 PM (16 years, 16 days ago)

Post deleted by LunarEclipse

Reason for deletion: fr



--------------------
Anxiety is what you make it.

Edited by LunarEclipse (03/15/08 06:33 PM)

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Offlinephi1618
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Re: (Bad News) Bear(s) Stearns implosion [Re: Luddite]
    #8150652 - 03/15/08 06:30 PM (16 years, 16 days ago)

BSC is fucked... the official story now is that their customers and counterparties rolled up and left because of the rumors, and now their faced with the classic short term liabilities / long term assets clusterfuck. Now that their ratings are decreased, their customers are bailing, and they have no prospect of long term access to cheap short term financing, they have no chance to survive as an independent company.

Quote:

When I was reading the Wall Street Journal Tuesday and other newspapers, there were articles about a lot of countries experiencing inflation. There was a phrase "from China to Chile everyone is trying to deal with inflation...". Mideast countries have the problem even with all the oil wealth.



A large part of the inflation that's facing China and the Middle East currently is due to their currency pegs and the weak dollar. Many countries want to limit the movement of their currency vs. the dollar; since the dollar is so weak, they have to print massive amounts of currency with which to buy dollars to prevent their currencies from rising against the dollar, which leads to equally massive inflation. If this continues, these countries will need to end their dollar pegs, which will cause the dollar to collapse and lead to massive inflation here. Kuwait ended their dollar peg not too long ago, and China has loosened theirs.
This isn't an inevitable outcome, but it's the direction we're headed.

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InvisibleLunarEclipse
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Re: (Bad News) Bear(s) Stearns implosion *DELETED* [Re: phi1618]
    #8150707 - 03/15/08 06:40 PM (16 years, 16 days ago)

Post deleted by LunarEclipse

Reason for deletion: n



--------------------
Anxiety is what you make it.

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Offlinephi1618
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Re: (Bad News) Bear(s) Stearns implosion [Re: LunarEclipse]
    #8150804 - 03/15/08 07:01 PM (16 years, 16 days ago)

It'd be messy, that's for sure.

The thing is, as long as we accept it and don't go to war to maintain our hegemony, it will probably be ok.

Makes me want to buy some commodities futures. I know I won't, though - I'm too chicken at current prices.

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Offlinephi1618
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Re: (Bad News) Bear(s) Stearns implosion [Re: wiggles]
    #8154311 - 03/16/08 05:52 PM (16 years, 15 days ago)

One year ago, Bear Stearns was selling for about $160/share. Today, it sold for $2/share.

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InvisibleLunarEclipse
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Re: (Bad News) Bear(s) Stearns implosion *DELETED* [Re: phi1618]
    #8154345 - 03/16/08 06:02 PM (16 years, 15 days ago)

Post deleted by LunarEclipse

Reason for deletion: bstjpmcf



--------------------
Anxiety is what you make it.

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OfflineDerk
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Re: (Bad News) Bear(s) Stearns implosion [Re: LunarEclipse]
    #8154698 - 03/16/08 07:35 PM (16 years, 15 days ago)

Markets worldwide are collapsing aren't they? Is this the end of the corporate world?

Guys seriously, is that thought of the cold war get in a bomb shelter with food, water, and ammunition mindset starting to kick in? Are we going to become Germany post WWI?

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Invisiblememes
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Re: (Bad News) Bear(s) Stearns implosion [Re: Derk]
    #8154914 - 03/16/08 08:24 PM (16 years, 15 days ago)

you guys are being retarded. bomb shelters? the end of the corporate world? come on.

And I keep seeing people say "with all this money being printed". I'd love to be pointed to the source of information saying our government is printing excess bills to pump money into the economy. That's retarded. There have been countless historical examples of governments shooting themselves in the foot by printing more money, leading to (as you said), hyperinflation.

When we expand our money supply, we do so by buying back government bonds

The fed is doing what it can. It's the worst agency to be in - they're always damned if they do, damned if they don't. They can never know about looming problems until they hit (for the most part), and corrective action takes forever and a day.

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Offlinelonestar2004
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Re: (Bad News) Bear(s) Stearns implosion [Re: LunarEclipse]
    #8157029 - 03/17/08 11:53 AM (16 years, 14 days ago)

Quote:

LunarEclipse said:
$2 a share. Unfreaking real. JPMORGAN Chase gets to buy a competitor at rock bottom prices with government (taxpayer) backing. How nice for them.




us little guys will have to pay for this shit.

fucking crooks...


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama

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Offlinelonestar2004
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Re: (Bad News) Bear(s) Stearns implosion [Re: memes]
    #8157037 - 03/17/08 11:55 AM (16 years, 14 days ago)

Soup lines start-up first thing tomorrow!:grin:


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama

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Offlinelonestar2004
Live to party,work to affordit.
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Re: (Bad News) Bear(s) Stearns implosion [Re: wiggles]
    #8157098 - 03/17/08 12:09 PM (16 years, 14 days ago)

After it was announced March 16 that J.P. Morgan Chase & Co. (NYSE:JPM) was purchasing Bear Stearns Cos. (NYSE:BSC) for $2 a share, the stock plummeted over 80 percent at the open of trading on March 17.

But, on March 11, Cramer told an e-mailer not to sell the beleaguered investment bank’s stock on his show’s Web site:

Dear Jim: Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? --Peter

Cramer says: “No! No! No
! Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear.” On Jan. 17, 2007, Bear was trading at its high of $171.51 a share. Since then, it has been racked by the mortgage turmoil. On March 11, when Cramer posted the e-mail and his response, the stock closed at $62.97. As of 10:00 a.m. on March 17, the stock was trading at $3.72 a share



http://hotair.com/archives/2008/03/17/bear-on-the-cheap-jp-morgan-rescues-the-market/


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama

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InvisibleNoetical
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Registered: 11/28/04
Posts: 9,230
Re: (Bad News) Bear(s) Stearns implosion [Re: LunarEclipse]
    #8157673 - 03/17/08 02:40 PM (16 years, 14 days ago)

Quote:

LunarEclipse said:
I suggest you do some homework on the history of the Fed and who controls it and then we can talk more about what they do and why.




what do they do and why?

I'm Canadian so I have little understanding outside the BOC

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InvisibleNoetical
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Re: (Bad News) Bear(s) Stearns implosion [Re: lonestar2004]
    #8157692 - 03/17/08 02:45 PM (16 years, 14 days ago)

Quote:

lonestar2004 said:
Quote:

LunarEclipse said:
$2 a share. Unfreaking real. JPMORGAN Chase gets to buy a competitor at rock bottom prices with government (taxpayer) backing. How nice for them.




us little guys will have to pay for this shit.

fucking crooks...




I like financial alchemists description, turning nothing into fools gold.

Happened to the Brits with Northern Rock.

Dosn't JP buying Bear though mean the little guys don't aren't going to have to foot the bill?

Edited by Noetical (03/17/08 04:43 PM)

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InvisibleNoetical
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Re: (Bad News) Bear(s) Stearns implosion [Re: Noetical]
    #8157696 - 03/17/08 02:46 PM (16 years, 14 days ago)

Too Big to Fail:

Read somewhere that the Notional Value of Bear derivatives out there is valued at $11 trillion dollars...

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