Market crash: are we there yet ?

[chris_gee]

Hmm the latest story is that the amongst the feds throwing money around is $25 B each for Citi and MS etc etc, as preferreds at 5%, no warrants or equity conversion, plus guaranteeing new bonds. Less than half the deal the Japanese got and a third that of Buffet's.
Sailaway need not worry yet about state funded bordellos to meet his every need. Paulson has others to screw and they ain't his friends.

[artbyjody]

This story really makes me feel something:

How the Super-Rich Are Surviving the Meltdown | Newsweek Business | Newsweek.com

[Rockter]

Today, UK inflation (the official inflation.... does not include local government taxes or housing)... reached 5%, and rising.

Gosh, isn't it good to know that if this keeps going that in 14.2 years time my savings will buy exactly half of what they would today.

So much for having saved.

[Rickm505]

Did anyone read what Roubini said today?

"...
Roubini said total credit losses resulting from the meltdown of the subprime mortgage market will be ``closer to $3 trillion,'' up from his previous estimate of $1 trillion to $2 trillion. The International Monetary Fund estimated $1.4 trillion on Oct. 7. Financial firms have so far reported $637 billion in losses, according to data compiled by Bloomberg. ..."

He also says the market will tank despite yesterdays rally. He thinks the recession will last a couple of years.

A year ago I predicted $1.5 Trillion in losses. I was called chicken little.... Now, once again, I was too conservative.

So, any guesses on who the Republicans are going to Nationalize tomorrow? I guess it's up to us to make the predictions as all the republicans are avoiding this thread.

Hmmm ... I wonder why?

[camaraderie]

Well Rick...THIS Republican is not avoiding the thread. I'm scared your right about the economy...even if you keep trying to pin the pain on the elephant to the exclusion of the donkey.

[Rickm505]

Some of the greatest minds in finance are doing everything they can think of to avoid a depression. Unfortunately, the rest of the greatest economic minds, think they're making all the wrong moves.

It's a coin toss at this point.

[sailaway21]

We're not avoiding the thread, Rick, we're just waiting for you to publish something other than tired old hyperbole. And since you've failed to respond to any of our recent posts, other than with the above mentioned hyperbole, I'm not surprised you're getting lonely. (g)

[sailingdog]

I think the greatest problem with the market ATM is the fact that there is no clear leadership figure. During the S&L crisis, Alan Greenspan provided a very clear direction and very strong leadership for the country to see. Today, we got no one who is clearly a leader and willing to make the decisions so that the people can see what the hades is going on and what is being done to prevent the whole financial system from collapsing. Even the $700B+ bailout was spoken of as something that they did not know the effects of passing it would be—positive, negative or otherwise. It is the blind and meek leading the confused and weak.

[JiffyLube]

I saw an interview on TV with Greenspan maybe a year ago, where he was asked what he knew about the subprime market. He said that while they (the Feds) knew about the subprime market, they did know the extent of it. Of all the things that the Feds track, one would think they would have been tracking that data too.

[wind_magic]

Originally Posted by sailingdog

I think the greatest problem with the market ATM is the fact that there is no clear leadership figure. During the S&L crisis, Alan Greenspan provided a very clear direction and very strong leadership for the country to see. Today, we got no one who is clearly a leader and willing to make the decisions so that the people can see what the hades is going on and what is being done to prevent the whole financial system from collapsing. Even the $700B+ bailout was spoken of as something that they did not know the effects of passing it would be—positive, negative or otherwise. It is the blind and meek leading the confused and weak.

SD, you don't like Paulson, Bernanke, Pelosi, and Bush's financial leadership ?

Here is an artist's depiction ...