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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (22518)9/15/2007 6:16:42 PM
From: TobagoJack  Read Replies (2) | Respond to of 218118
 
I fear this time will be no different, some large financial beast will go down before all is said and done, and whatever happens, it will be big, and I fear, biblical in scale.

fear focuses the mind

I remember back whenever (date not important), but within the last 15 years, (googled - 1991 iht.com ) when the HK govt said BCCI bank in Hong Kong is separate and distinct and 'on own' capitalized from BCCI international and not to PANIC. It was a Friday.

Tens of thousands did not panic.

The Saturday was a busy day, when the HK govt moved its own fund out of the bank, cleared own checks held, etc etc.

Monday was BCCI bankruptcy day.

Lessons:
- Panic first
- Believe no one
- Run as far as possible, in any direction, before looking back
- Cash is good
- Gold is better



To: Snowshoe who wrote (22518)9/16/2007 10:20:03 PM
From: kathtoo  Read Replies (1) | Respond to of 218118
 
I remember that. I used to call on Alaska Mutuals real estate department. It seemed as if everyone that owned a pickup truck and a hammer was a "condo builder" and Alaska Mutual could be counted on to give them construction loans, until the banks allowed the market to be so over built that it went bust. This feels a lot like Anchorage in mid to late 80's. Only on a much larger scale.


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