Financial Armageddon
- Thread starter SGaynor
- Start date
So it's not who's the best to be President....the real motivation to vote sounds like it will be who's giving away the most "free" stuff. "Free" to freeloaders, costly to taxpayers.
jhmover said:
With Trillions in spending . . . .
As the government heads down the path of socialism,
Dr. Helen Ask: Is It Time to ‘Go John Galt’?
As Ayn Rand foresaw, productive Americans are fed up with supporting the unproductive and may not take it anymore.
The contagion is spreading.
The Fed is helping to stabilize Switzerland (UBS in particular):
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/16/AR2008101600987.html?hpid=topnews
The Fed is helping to stabilize Switzerland (UBS in particular):
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/16/AR2008101600987.html?hpid=topnews
Argentina near default. What is interesting is that they siezed pension funds.
Is this what Biden was referring to when he spoke of an event within 6 months of Obama taking office? There has been talk of a one time 15% tax on pension funds but that was before the current financial mess.
The current government spending is unsustainable without significant new funding . . . . .
Is this what Biden was referring to when he spoke of an event within 6 months of Obama taking office? There has been talk of a one time 15% tax on pension funds but that was before the current financial mess.
The current government spending is unsustainable without significant new funding . . . . .
Funding you say?
House Democrats Aim to Remove 401k Tax Breaks
All American Blogger ^ | 10/22/08 | Duane Lester
and Obama's small business tax plans
The Truth Behind Obama’s 3% of Small Businesses Claim
And it STILL won't be enough . .
House Democrats Aim to Remove 401k Tax Breaks
All American Blogger ^ | 10/22/08 | Duane Lester
and Obama's small business tax plans
The Truth Behind Obama’s 3% of Small Businesses Claim
. . . All the statistic means when is that most businesses would not see higher taxes under Obama’s plan than they would see if the Bush Tax Cuts expire as they are scheduled to do in 2011, absent any new vote on them. . . .
. . . About 35% of small businesses would likely see a tax hike under Obama’s plan compared to the rates they face today. . . .
. . . About 35% of small businesses would likely see a tax hike under Obama’s plan compared to the rates they face today. . . .
And it STILL won't be enough . .
SDD2 said:
I suspect the economy is beginning to discount the possibility of an Obama presidency. Obama is about socialism, increased debt, fewer jobs, less healthcare, higher taxes, less trade, etc. Even the Democrats are figuring it out.
McCain vs. Obama on Free Trade
The conclusion of the comparison interesting. I said years ago that the US government is becoming way too big and too many people work for the government, either directly or indirectly. That this would eventually result in a majority public sector simply voting themselves jobs and money from the public trough. I'm sure your smart enough to figure out how that will end.
With Obama as President, we would all be Michigan
I finally firgured out what the "Dow" actually stands for, it is investor shorthand for DOWN.
What a bloodbath today.
What a bloodbath today.
Good stuff, Mark. If only I'd had the benefit years ago of your wisdom, maybe I could see through all the poor campaigning by JM and understand that only a vote for him will keep us safe from socialism.
And yes, I'm sure many democrats are coming around to your way of thinking ...
Finally, which is it today, touting or ignoring polls?
And yes, I'm sure many democrats are coming around to your way of thinking ...
Finally, which is it today, touting or ignoring polls?
landrovered said:
:rofl:
landrovered said:
The next shoe to drop will be pension funds that are significantly underwater and will go looking for a bailout.
The congressional approval rating of <10% has consequences. The LSM's constant drumbeat of Obama and his socialism has consequences. We are nearing a point where confidence in the political class is diminished enough to have a significant impact on the economy and our social structure.
Don't read the following article with sharp instruments nearby . . .
Fiscal Cat 5 Hurricane Warning
Thanks for the link,
Q: If the treasury is running the presses full tilt, why is the dollar strenghtening? I am not baiting you I just don't understand why it is getting stronger when it should be tanking.
Q: If the treasury is running the presses full tilt, why is the dollar strenghtening? I am not baiting you I just don't understand why it is getting stronger when it should be tanking.
landrovered said:
A flight to currency "quality". The rest of the world is in deep shit. Argentina is near bankruptcy and has siezed pension plans. Spain not far behind. The EU is about ready to crack up. Many Eastern block countries are in similar shape. Same with Asia and the Middle East.
Is Another Emerging Markets Crisis in Motion?
It is simply supply and demand. There is huge demand for dollars and the presses can't print fast enough, hence the dollar soars like today. To me this is a very bad sign. It is indicative of significant economic stress that is continuing to develop.
Gold usually performs well in times of stress. Gold is also dropping. That was puzzling to me and others last week. I think we figured it out. Many are having to sell whatever assets they have to raise cash to meet obligations. They are dumping gold, oil, whatever commodity they have to raise cash.
landrovered said:
It's not so much that the dollar is strengthening, it's more a matter of the foreign currencies that it is measured against are tanking. Part of the reason is that as bad as our financial mess is here, there is a growing consensus belief that things will be even worse overseas.
For example, the US dollar has gained 20% against the euro since July 15 lows on speculation that it will benefit as the European economy slows.
And the sequel to Fiscal Cat 5 . . . .
The Stark Choice Now Facing America
Enjoy! Sleep well . . . . . :rofl:
The Stark Choice Now Facing America
Enjoy! Sleep well . . . . . :rofl:
MarkP said:
Yeah, what he said about the dollar. Notice that the Yen is staying strong vs Euro, Pound and Dollar. It's not about how strong the dollar/yen are, it's just that everyone else is either in or will be in worse shape. Say what you want about Paulson/Bernake, they have taken some pretty bold steps, which, I think (hope) will have staved off disaster (ie, Great Depression II).
I mostly agree with Mark about the great sell off in commodities and stocks. I'm thinking that a lot of the drop is due to hedge funds in dire need of cash to cover their losses/margin calls. There are a lot of sound companies whose stocks are amazingly low due to this sell off. I think the commodity run up we saw earlier in the year was largely due to speculation by hedge/pension funds, and now that they are running for the exits, prices are coming down.
Q: Should anything be done about the huge potential value of derivatives that are currently in existence in the market. If these funds start to tank the cumulative value of the derivatives exceeds the value of the world GDP. Sounds like a recipe for disaster to me.
It seems like after the Long Term Capital Management fiasco, the market moved to internalize the mistakes of LTCM and make adopt their methods industry wide.
Kind of like...they got bailed out maybe we should get into this because there is no downside if we fail in a big enough way.
It seems like after the Long Term Capital Management fiasco, the market moved to internalize the mistakes of LTCM and make adopt their methods industry wide.
Kind of like...they got bailed out maybe we should get into this because there is no downside if we fail in a big enough way.
landrovered said:
That's the trillion dollar question and scares the hell out of me. I think that is why we are seeing Paulson/Bernake take the moves they have taken. There are no "free market only" people in a financial melt down of that magnitude.
I read that the sale of Lehman's CDSs went orderly this week, so maybe it'll be an orderly write down. That said, these thing should be regulated (they really are insurance instruments), and brought to the light, and not as a shadow market.