>>>>5. The financial system is careening out of control and increased credit is the only thing that will keep it from crashing
immediately (while "they" try to come up with plan B).<<<<<<
The end is near!!!!! Recieved this in my mail tonight with my monthly statement, and I quote...
......With a DLJdirect Account Power Loan, borrowers can finance up to 100% of the value of their home without paying expensive primary mortgage insurance, and qualified securities in a DLJdirect account can be pledged as collateral in lieu of the customary cash down payment. With DLJdirect Family Power, the borrower's parent, grandparent, aunt, uncle, brother, sister, son, daughter pledges eligable securities in a DLJdirect account......
So not only will everyone be broke and homeless but family fights will be breaking out as the extended family all fight each other over the best boxes to live in under the bridge and take turns blaming each other for getting caught holding the bag with their homes backing the purchases. UFB!!!!!
Well I was and still am slightly bullish intermediate term but this downturn came earlier than I expected it to and has formed lower tops insted of the expected double or slightly higher tops. SPX futures are biased up again but the Fed is getting confusing. Mr Hoi, I saw a release earlier this morning stating the Fed had done a small repo but couldn't find it again tonight. I did see later the one you posted. I wonder if they are goosing it in the morning when futures are down then draining once they realize that it isnt going to crash right away?
Good Luck,
Lee |
