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Politics : Welcome to Slider's Dugout
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To: jim_p who wrote (6884)11/4/2007 7:59:19 PM
From: jim_p  Read Replies (3) of 50228
 
How bad is it out there really??

1. The banks/brokerage firms will be required to disclose the amount of their illiquid securities they hold in Q4. In the past whenever a new accounting rule is about to take place, the companies/banks always volunteer the information before it is required by the new accounting rules. In the Q3, NO ONE volunteered the information in their financials???

2. Bernanke is either the dumbest Fed Chairman this country has ever had, or he knows a lot more than you and I. When in the history of this country has the Fed ever cut interest rates when:

a the dollar at a new low,
b oil at $90+,
c gold at $800,
d virtually every commodity on the going higher and
e "reported" GDP at 3.9% (what a joke)
f "reported" job growth at 160,000 (actual number when you take out the games it's closer to -200,000)
g the rest of the world is raising rates and beginning to see inflation getting out of control

3. First the Fed forms a $70-100 billion fund to hold the illiquid securities owned by the banks off balance sheet and claims it's not a bailout (I've got a bridge for sale if you believe that one).

4. Next the Fed lowers the capital requirements for the new SIV bailout fund to 1/10th of that required by the banks.

5. Merrill announces an $8.4 billion writedown

6. Next shoe to drop is an $8-11 billion writedown at Citibank.

7. Goldman doesn't writedown any of their exposure.....yet??

8. Who is next??

The red flags are out there screaming for you to listen!!

We are seeing an incredible number of signs of desperation day after day after day.

My guess is the games cannot go on very much longer?

It's time to stop and think about what took place to allow this economy to prosper over the last 10 years and then look around you to see if ANY of those conditions exist today and will exist in the foreseeable future.

Jim
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