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Good Gawd! -- FY '03 Deficit of $450 Billion

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  • #166
    Originally posted by KrazyHorse
    Am I talking **** with this currency trade thing? I'm just pulling it out of my ass, if you hadn't noticed. But it seems to make sense...
    I didn't read it.

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    • #167
      I certainly would hold on to my Yuan if I could get a hold of them at the exchange rate. If they ever unpeg it, it will shoot up.
      I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
      - Justice Brett Kavanaugh

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      • #168
        Kitty, I read it. But didn't follow it. I think one can think through these currency debates in terms of arbitrage arguments and such. I.e. in terms of microeconomics. That the currency is constrained does not prevent one from thinking it through. You can get wonderful insights from using microecnomics to look at constrained markets like rent-controlled apartments, subsidized food, etc.

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        • #169
          Originally posted by TCO
          We should let the GSE's go under. There will just be a write off and some banks will take a haircut. It's not the end of the world. The property is still there.
          The question is what happens to property prices and the US financial markets. They are too big to fail. Even too big to regulate.
          “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

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          • #170
            Aaah bull****. I remember hearing about how LTCM was too big to fail. They just unwind the bad loans. There's lots of value in the portfolio. If someone has to lose money, let it be the people who took the risk.

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            • #171
              test bull**** ****

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              • #172
                I thought you were against bailouts. Why do you advocate one for Freddie. Let it sink or swim.

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                • #173
                  IMO they should be liquidated as soon as possible. I'm not advocating a bailout; I'm just sure one will happen.
                  “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

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                  • #174
                    Why liquidate? Why not just refuse to do the bailout.

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                    • #175
                      Good. We are on the same side. hopefully our side wins in the likely case that there is an insolvency.

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                      • #176
                        "Why liquidate? Why not just refuse to do the bailout."

                        Because the longer they operate, the more they destort the financial markets and asset prices.

                        "hopefully our side wins in the likely case that there is an insolvency."

                        Yeah, but to me that seems highly unlikely.
                        “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

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                        • #177
                          Why was this thread not started under "NASDAQ part 29" damn you dans
                          We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution. - Abraham Lincoln

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                          • #178
                            Originally posted by HershOstropoler


                            Because the longer they operate, the more they destort the financial markets and asset prices.
                            That is the case with any bankrupt institution. If the creditors can find a covenant broken than they can create the bankruptcy. Otherwise, they have to sit and wait, while more of their money goes down the drain. tHat's a risk you take when you buy a bond.

                            Let the carnage happen. Laissez faire.

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                            • #179
                              Originally posted by HershOstropoler


                              Yeah, but to me that seems highly unlikely.
                              Don't give up so easy. There are a reasonable amount of people who oppose a bailout.

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                              • #180
                                Originally posted by TCO



                                Let the carnage happen. Laissez faire.
                                libertarian
                                We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution. - Abraham Lincoln

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