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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (11494)	9/7/2008 3:52:51 PM
From: jim_p	11 Recommendations Read Replies (2) \| Respond to of 50758

More red flags and cracks in the system are showing up daily and at an accelerating rate!! Last week Wells Fargo, which has been touted as one of the two strongest banks left in the financial system, raised $1.75 billion at an incredible interest rate of 9.75% with no redemptions for 5 years. Their CFO has the nerve to come out try to justify it by saying its tax deductable........incredible???? Let's see......prime rate is 4% and Wells Fargo borrows at 5.75% over prime. Do you think Wells Fargo can make any money borrowing at 9.75% and loaning it out at 4-7.00%???? Why would Wells Fargo even accept that rate if they can borrow at the Fed for almost ONE FIFTH of that rate???? I don't know about you, but it doesn't pass the smell test to me and shows signs of desperation and a lot more going on beneath the surface from what we are being told??? I guess this must mean that the capital markets are closed to all of the other banks who are less credit worthy and we can add them to the list of entities that must be bailed out because if we don't the entire system fails......Ford, GM, FDIC, etc. Now we are being told by Hanky Panky that somehow the equity at Fannie and Freddie isn’t there anymore??? And by the way the losses to the taxpayers are only going to be $25 billion or so and we may even make a profit………………..imagine that a profit!!! Anyone want to buy a bridge??? I’d be surprised if the losses were less than a Trillion, but that number would cause a panic so I guess we will be eased into the real number over the next year or two. AMAZING TIMES WE LIVE IN, Jim

To: jim_p who wrote (11494)	9/7/2008 5:31:45 PM
From: jim_p	19 Recommendations Read Replies (3) \| Respond to of 50758

"Bank deposits decline by $40B. Part of the explanation for this decline in bank deposits is that funds were withdrawn from US banks and deposited outside of US borders. While I don’t have more information on this at this time, I am speculating that this represents a capital flight, presumably by wealthier and/or well connected individuals who have read the writing on the wall. An insolvent US banking system is no place to keep your funds, especially if you can bring that money home to a safer system." Imagine that, a capital flight to safety outside of the US banking system. Last one out, turn out the lights...............that is if they are still on by the generosity/stupidity of the Chinese who continue to buy our worthless paper so we can issue more worthless paper to pay for 65% of our energy needs that we don’t have because we are to dumb/stupid to develop our own energy supplies thanks to the morons in Congress who don't have the will or the intelligence to develop an energy plan decade after decade. I don't think any Congress in the history of this country could have possible been more stupid then the current one. I say vote every one of the bastards out of office regardless of their party, no congress would be better than the one we have. Poor Ken Lay lying dead in his grave for doing a lot less than our banks and our government officials have done with the so called “shadow banking system” and accounting games played by Freddie and Fannie and none of them will ever even get indicted. Jim

To: jim_p who wrote (11494)	9/7/2008 9:12:29 PM
From: Proud Deplorable	Respond to of 50758

"The percentage of loans at least 30 days past due or in foreclosure was up from 8.8% in the January-March quarter, and up from 6.5% a year earlier. This is a serious difference from the 4.21% in real estate delinquencies reported at the end of the second quarter of 2008." Got GOLD? Anyone who doesn't own precious metals is in my opinion.....crrrraaaaazzzzzzyyyy It is SO obvious that those 'economist' protractors advocating listening to ANYTHING the US Govt says are really misleading people. Best to get your gold and silver in physical and watch the system crash and burn, out of stocks, out of bonds...just OUT until credibility returns to the markets IF EVER.

To: jim_p who wrote (11494)	9/8/2008 1:42:28 AM
From: Fiscally Conservative	Read Replies (1) \| Respond to of 50758

Jim: "On one side lies deflation and the destruction of our entire financial system, and on the other side lays monetary printing and an attendant loss of faith in the (fiat) dollar, leading to hyperinflation. The deflation side is a historically weak bet, as inflation has nearly always been the preferred route." Sounds like this fella is predicting Inflation. This is,of course,how I have foreseen this fiscal nightmare to play out. How about hyper-inflation ?