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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (64219)	6/20/2006 3:57:16 PM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

some of those are IMO illogical True, but under extreme scenario of government intervention/confiscation/socialism/collapse, all kinds of strange distortions could happen. but let me put a more realistic yet still unlikely set of numbers on those 1. California house prices down 75% from the peak. 2. 35% of outstanding mortgages in default. 3. 15 million foreclosures. 4. 18% unemployment rate. 7. DJIA dropping back to a level of around 3000. I think the above scenario has a very good chance of occurring, unless the Fed starts using unconventional measures (quite likely under that scenario ). The question is when and how would the Fed intervene, with the only way out being either suffering through the depression or going all out to defeat it and causing hyperinflation. I believe that if left to free markets, the scenario that you gave not only has a good probability, but it should happen based on laws of economics, given the scope of monetary and fiscal mismanagement, and government intervention in past years.

To: mishedlo who wrote (64219)	6/20/2006 4:05:09 PM
From: ild	Respond to of 110194

Merrill Lynch's World Wealth Report finds more affluent are keeping homes in multiple countries and have financial advisers abroad. Study also shows they're shifting their assets from North America to the Asia-Pacific region. U.S. District Court Judge Raymond Dearie sentences short-seller Anthony Elgindy to 135 months, or more than 11 years, in prison for his role in scheme to manipulate stocks of small-cap companies. Dearie also sentences Elgindy to forfeit $1.5 million.

To: mishedlo who wrote (64219)	6/20/2006 4:08:03 PM
From: ild	Read Replies (3) \| Respond to of 110194

NEW YORK, Jun 20, 2006 (BUSINESS WIRE) -- Chase, the consumer banking brand of JPMorgan Chase & Co. (NYSE:JPM), today announced the rollout of 1.8 million Visa debit cards with blink technology to make purchases faster for its customers in New York, New Jersey and Connecticut. Chase, which introduced credit cards with blink in New York last fall, is the first Visa issuer to offer contactless payment capability on debit cards, which deduct purchases directly from a customer's checking account. Cardholders can make purchases by simply holding the card close to a participating merchant's card reader at checkout. About 2,000 merchant locations in the New York/Tri-state area and more than 30,000 in the U.S. are equipped to accept blink payments. "Blink allows consumers to make purchases faster, cutting down the time waiting in line or fumbling with cash," said Michael Cleary, Chief Operating Officer of Chase's Consumer Bank. "Our credit card customers have really liked blink, so we're bringing the same convenience to our Tri-State debit card customers." More than seven million Chase customers currently have credit cards with blink. 1.8 million new Visa cards Blink is being introduced to checking account customers as Chase reissues 1.8 million debit cards in the New York/Tri-State area, switching to the Visa mark. All Chase debit cards, except the Chase Continental Airlines card, will now carry the Visa logo. Chase's customers began receiving the new debit cards with blink in the mail last month and mailings will continue through June. Faster and safer than cash U.S. consumers now use debit cards to make purchases just as often as they use cash, and debit card use continues to grow. In the Tri-State area, sales volume for Visa Check Card alone increased 17.5% in May 2006, compared to May 2005. Chase debit cards with blink offer a faster and safer alternative to cash, making debit cards even more convenient for customers to use. Transactions made using cards with blink: -- Eliminate the time customers spend waiting for cashiers to make change; -- Are completed up to 25% faster than those done with cash; and -- Can be up to 40% faster than other payment methods at locations such as quick-service restaurants, drive-thrus, convenience stores and movie theaters. When using the blink functionality, the Chase debit card must be held within one to two inches of a card reader to conduct a transaction, minimizing the possibility of an unintended purchase. The card readers have a built-in safeguard that prevents more than one card from being read at a time, and purchases above $25 require a signature as an extra security measure. The radio frequency technology that drives blink uses the highest level of encryption allowed by the U.S. government, and the card's RF chip contains the same minimal amount of personal information as the traditional magnetic stripe cards. Other consumer safety benefits of cards with blink include: -- Zero liability for fraudulent transactions; -- Quick replacement of lost or stolen cards; -- The ability to track account details online at Chase.com; -- No need to hand over the card to a cashier; -- No risk of an accidental card reading because consumers must hold the card within 1 to 2 inches of a reader to conduct a transaction. "Blink gives customers a quicker, safer and more convenient way to use the cash in their checking accounts to make purchases," Cleary said. The blink debit card also has a magnetic stripe and can be used with a PIN at ATMs to get cash or at the more than 22 million merchants worldwide that accept Visa.

To: mishedlo who wrote (64219)	6/20/2006 9:51:14 PM
From: shades	Read Replies (1) \| Respond to of 110194

bubble right here on SI did predict that Global Crossing would go under Did hienz assume that MSFT and Softbank were going to avoid thier obligations with GC as alleged here or was that beyond the wizard's power of prophecy? Message 22547859 Timing is everything - I know many that predicted the top back in 99 - but went broke shorting it before things really crashed. Anyways for more SI history I just read that Athony@Pacific is getting 11 years in jail for his funny business here on SI and elsewhere. He was a prolific poster back in the day and many here made money off his information. Mark Cuban may do a better job shorting than him though - hehe.