Don't need to tell anyone but

[Twodogs]

Originally Posted by OvenMaster

This "correction" would have started -- and finished -- a lot sooner if there hadn't been a crapload of non-existent future tax dollars given to all the criminals running the shell game they call American banks. All these bailouts are doing is prolonging the inevitable, IMHO.

I saw a headline and couldn't believe it:

"Obama Says Debt Load 'Unsustainable'; Warns of skyrocketing interest rates..."

http://www.bloomberg.com/apps/news?p...efer=worldwide

If our Fearless Leader doesn't want deficit spending, then why on earth is he DOING it?!

/rant

It boggles the mind, doesn't it? I just hope we reach critical mass sooner and not later. Hopefully before 2010, and 2012.

[merrylander]

Well remember that part of the 'deficit' was hidden under W because he kept the costs of Iraq and Afghanistan 'off budget' not that it meant we were not spending the money. It is called creative bookkeeping in most circles, outright theft in others.

God forbid we go back to their economic theories. Fortunately for my pension Canada did not have any sub-primates running about as the CMHC did not allow such idiocy. Derivatives and tranches are dirty words in the GWN. You get a mortgage directly from a bank and they don't sell them, bundled or otherwise. Here, while there was a mortgage on this house, we went through over six different banks, yet we only re-negotiated once.

With the whole concept of derivatives and tranches how in hell anyone knows who really holds their mortgage is beyond comprehension. Another set of thieves the CMHC does not allow are Title Companies.

[Charles]

With the whole concept of derivatives and tranches how in hell anyone knows who really holds their mortgage is beyond comprehension. Another set of thieves the CMHC does not allow are Title Companies.

This is a quote from Merrylander, I don't know how to do it the easy way.

Heading West.

I read that the money tied up in derivatives is something like 10 times the GNP of the entire world. Certainly points out the difference between wealth and money. No wonder Buffet calls them "Weapons of mass destruction".

My crude analogy has been that derivatives were like side bets on a crap game. And if you ever saw L. Hanks shooting craps at the Country Club, blind drunk, I think you might agree.

Where were the regulators when we needed them? Licking their master's boots, I suppose.

Chas

[merrylander]

Originally Posted by Charles

I read that the money tied up in derivatives is something like 10 times the GNP of the entire world. Certainly points out the difference between wealth and money. No wonder Buffet calls them "Weapons of mass destruction".

My crude analogy has been that derivatives were like side bets on a crap game. And if you ever saw L. Hanks shooting craps at the Country Club, blind drunk, I think you might agree.

Where were the regulators when we needed them? Licking their master's boots, I suppose.

Chas

Chas it is the red rectangle at the bottom of the post.

You can thank that barking idiot Phil Gramm for repealing the Glass Stegal Act and Clinton's finance guru Robert Reich for telling Bill it was a good idea. Harry Truman had it right when he asked for a one-armed economist. Put two economists in a room and they will come up with at least four theories.

You might just as well consult a tea leaf reader as an economist.

[Charles]

Originally Posted by merrylander

Chas it is the red rectangle at the bottom of the post.

You can thank that barking idiot Phil Gramm for repealing the Glass Stegal Act and Clinton's finance guru Robert Reich for telling Bill it was a good idea. Harry Truman had it right when he asked for a one-armed economist. Put two economists in a room and they will come up with at least four theories.

You might just as well consult a tea leaf reader as an economist.

Sir, you are one fine human being. I feel as though I've discovered the secret of the universe. Armed with the knowledge of the magic "quote" button, I feel that I may be able to elevate myself to the status of the "truly insufferable".

I believe you have a valid point about the repeal of the GSA. There are a lot of folks that point to the sub prime loans as the straw that broke the camel's back. Personally,I think that the sub primes were more of a catalyst.

It's difficult to research a problem this complex, especially if you are as ignorant on the subject as I am. Coupled with the fact that 90% of the information that one collects is nothing more than politics as usual. Poke a stick in the other guy's eye, and try to make it look like his fault. If anyone has anything of concequence to say, they get drowned out by all of the hacks.

I hate to ask, but can you point out the magic "economics sans bullshit" button?

I'd like to click on it,
Chas

[Sandy G]

Yeah, I was an Economics major in college, & I'll be damned if I can tell you a single SIMPLE thing about it...To be a good economist, you have to be able to make a point, & then refute it at least 10 ways...And support it 20 more. The one thing that I DID get from it was is that the economy of America is SO vast, & so complicated, there is really no way to devise a model to explain it adequately...Yes, you CAN influence the economy on a "Macro"-large-scale, but often as not, by the time your influences take effect, the economy has moved on, & your "influences" end up harming things rather than helping.

[Charles]

Originally Posted by Sandy G

Yeah, I was an Economics major in college, & I'll be damned if I can tell you a single SIMPLE thing about it...To be a good economist, you have to be able to make a point, & then refute it at least 10 ways...And support it 20 more. The one thing that I DID get from it was is that the economy of America is SO vast, & so complicated, there is really no way to devise a model to explain it adequately...Yes, you CAN influence the economy on a "Macro"-large-scale, but often as not, by the time your influences take effect, the economy has moved on, & your "influences" end up harming things rather than helping.

Whoa, you were an economics major? Please allow me to hush my mouth.

And all of this time, I was under the assumption that you were just an ignorant hillbilly with a couple of "shootin' irons".

Just kidding, I figgered you was most likely packin' a little somethin' in your britches,
Chas

[merrylander]

My son majored in economics, said he wanted to be an investment banker, ended up as a Product Manager thank God. I guess investment bankers are not all bad but you wouldn't want your sister to marry one.