Market crash: are we there yet ?

[sailaway21]

My contention that we can talk ourselves into a recession appears valid and here's how it can be done. Some interesting historical facts for those enamoured with the Clinton administration as well as convinced that the Bush administration is responsible for our current situation.
FOXNews.com - The 'Recession' Is a Media Myth - Opinion

[PBzeer]

Townhall.com::Meet Barry Obama, Fair Housing Lawyer::By Jerry Bowyer

[chris_gee]

Of course perception and confidence can have an effect on recession or bubble. GS I think now estimate losses from this debacle as 1.1 trillion. I guess that might be almost enough to raise some question marks and influence confidence.

Neither what is reported by the media, nor political statements are necessarily true.

Understanding what is involved requires greater mental effort than simply slagging one or other political party.

This quote from Barry Ritholtz is succinct.
"Truthiness" Instead of Truth
Big Picture by Fusion IQ
535 5th Ave., New York, N.Y. 10017

March 24: Whether overstating job creation [or growth, or] understating inflation, a shocking amount of debate about the economic expansion has been primarily spin....[as] a parade of sycophants, despite knowing better, continued to cheer-lead punk data....First, they denied what was happening; then we got the whole "contained" thingie; then they blamed da Bears. Now they've unwittingly embraced Marx, and successfully pled for the central planners to rescue them from their own stupidity...Has "truthiness" replaced truth? [Will we] be saddled forever with these hallucinatory hacks?

-- Barry Ritholtz

[Sailormann]

That there is even the remotest possibility of a meltdown is a testament to the economic mismanagement we have had since 2001, considering how well things were going until then - strong growth, budget surplus, strong dollar. Now all of that is reversed. Thanks Bush!!

I think that it started long before Bush. The current situation started happening a long time ago, right around the time that American Express cards became popular, which was before Chargex (now Visa) was even thought of.

Reagan grabbed the ball and sped it up appreciably, Clinton managed to slow it down a bit, and Bush - well - there's not much wrong that Dubya and his cracker friends haven't done yet.

Hang in there though, and repatriate your manufacturing sector !

[sck5]

chuck

you said "let's see if you still blame Bush on everything"

in response to me saying "BOTH parties threw away the regulations"

seems a bit of a misinterpretation of what I said

[Sailormon6]

Originally Posted by sck5

chuck

you said "let's see if you still blame Bush on everything"

in response to me saying "BOTH parties threw away the regulations"

seems a bit of a misinterpretation of what I said

sck5, you've established such a consistent pattern of misbehavior that you're being punished for all your past sins.

[Sailormann]

Understanding what is involved requires greater mental effort than simply slagging one or other political party.

True - although you must admit there's a lot of joy to be found in trashing the Republicans... It's almost a civic duty !

In a nutshell, the thing to be worried about here is that this is the first time that repercussions of a US financial upheaval are being felt by the AVERAGE citizen in foreign countries. A lot of them live and work in places where the capital markets are subject to greater regulation, and it is inconceivable to them that this could have happened. From their perspective, it is illegal and they are going to be out for blood.

The US will have no option but to proceed with prosecution of the most egregious offenders, or else accept the fact that they are not going to be able to raise funds on the international market for a long time.

Unfortunately, right now the US is in the position of borrowing money to stay afloat, hence you need these nations to feel at least neutral, if not positive towards you. Hard for this to happen if they are losing money personally. There isn't going to be a lot of political will amongst their leaders to continue to lend the US money (buy US dollar bonds), so things are bound to be tight for a while.

Also, human nature being what it is, there are assuredly traders and fund managers in strange places stting on top of bundles of these quasi-junk bonds who have not summoned the courage to inform their bosses as to the actual extent of their holdings. Basically - little financial booby-trap time bombs that are going to explode from time to time, until they have finally all worked their way through the system (roughly 7 years).

And remember to repatriate that manufacturing sector kids !!!

[sailaway21]

Originally Posted by Sailormann

True - although you must admit there's a lot of joy to be found in trashing the Republicans... It's almost a civic duty !

In a nutshell, the thing to be worried about here is that this is the first time that repercussions of a US financial upheaval are being felt by the AVERAGE citizen in foreign countries. A lot of them live and work in places where the capital markets are subject to greater regulation, and it is inconceivable to them that this could have happened. From their perspective, it is illegal and they are going to be out for blood.

The US will have no option but to proceed with prosecution of the most egregious offenders, or else accept the fact that they are not going to be able to raise funds on the international market for a long time.

Unfortunately, right now the US is in the position of borrowing money to stay afloat, hence you need these nations to feel at least neutral, if not positive towards you. Hard for this to happen if they are losing money personally. There isn't going to be a lot of political will amongst their leaders to continue to lend the US money (buy US dollar bonds), so things are bound to be tight for a while.

Also, human nature being what it is, there are assuredly traders and fund managers in strange places stting on top of bundles of these quasi-junk bonds who have not summoned the courage to inform their bosses as to the actual extent of their holdings. Basically - little financial booby-trap time bombs that are going to explode from time to time, until they have finally all worked their way through the system (roughly 7 years).

And remember to repatriate that manufacturing sector kids !!!

The difference between Chinese communists and Canadian socialists is that the Chinese at least understand how capitalism works.

[Sailormann]

The difference between Chinese communists and Canadian socialists is that the Chinese at least understand how capitalism works.

I can tell when you agree with something because you do the same thing I do - you post a glib, unrelated remark.

Anyway - the reality is that we have mastered capitalism to the degree that we can afford to provide our citizenry with universal socialism (spelt h-e-a-l-t-h-c-a-r-e)

[sailaway21]

Originally Posted by Sailormann

True - although you must admit there's a lot of joy to be found in trashing the Republicans... It's almost a civic duty !

In a nutshell, the thing to be worried about here is that this is the first time that repercussions of a US financial upheaval are being felt by the AVERAGE citizen in foreign countries. A lot of them live and work in places where the capital markets are subject to greater regulation, and it is inconceivable to them that this could have happened. From their perspective, it is illegal and they are going to be out for blood.

The US will have no option but to proceed with prosecution of the most egregious offenders, or else accept the fact that they are not going to be able to raise funds on the international market for a long time.

Unfortunately, right now the US is in the position of borrowing money to stay afloat, hence you need these nations to feel at least neutral, if not positive towards you. Hard for this to happen if they are losing money personally. There isn't going to be a lot of political will amongst their leaders to continue to lend the US money (buy US dollar bonds), so things are bound to be tight for a while.

Also, human nature being what it is, there are assuredly traders and fund managers in strange places stting on top of bundles of these quasi-junk bonds who have not summoned the courage to inform their bosses as to the actual extent of their holdings. Basically - little financial booby-trap time bombs that are going to explode from time to time, until they have finally all worked their way through the system (roughly 7 years).

And remember to repatriate that manufacturing sector kids !!!

No mann,
It's just that there's not a single statement in that post that is demonstrably true and most of it is not even possible, even were it desirable. As fantasy, it's finely written. As a comment on the state of things economically it's dissonant.