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  • #151
    Originally posted by Asher

    I don't pretend to speak for DanS, and if you think most people at Lehman are like DanS you are completely stupid. Which we know to be true. So there you go.
    Always concise and to the point.
    "I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003

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    • #152
      Originally posted by Barnabas
      This reminds me of Argentina 7 years ago.


      At least most people will not lose their savings.
      There's only $50 billion FDIC's pockets though.
      DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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      • #153
        The thing that makes me wonder though... how much more bad debt can the US govt. take on before its creditors get worried.
        "The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
        -Joan Robinson

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        • #154
          Originally posted by Victor Galis
          The thing that makes me wonder though... how much more bad debt can the US govt. take on before its creditors get worried.
          Lots

          It would basically cause a worldwide economic collapse if confidence were lost in US treasuries. That would be the end. There is no stronger entity than the full faith and credit of the US government.
          "I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003

          Comment

          • #155
            Originally posted by DanS
            Tomorrow may represent a good chance to get back into China. FXI was down 7% today and is now trading at the high range of reasonable prices.

            I assume that Asia will just about crash this evening.
            It crashed last night. Which, of course, does not mean it won't further crash tonight.

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            • #156
              Not all the Asian markets were open. IIRC China and Japan were closed.
              "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
              Ben Kenobi: "That means I'm doing something right. "

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              • #157
                Originally posted by Victor Galis
                The thing that makes me wonder though... how much more bad debt can the US govt. take on before its creditors get worried.
                The stock market will have to go down by 50% first, not 5%.
                I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                - Justice Brett Kavanaugh

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                • #158
                  Stefan Lehman was great but doesn't hold a candle to Howard DeVore.
                  "lol internet" ~ AAHZ

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                  • #159
                    Originally posted by DanS
                    Indeed it has. That was announced last night, AFAIK. That's probably what led to the stampede for funds that Colon mentioned.
                    Hmmmm... So did the Fed buy Merril for BAC by giving BAC cash with Merril stock as collateral? Would explain why BAC paid $40b for a $26b (and falling) piece of crap...

                    Also makes you wonder about how a buyer for Lehman couldn't be found if even that sort of deal wouldn't be enough to entice anyone.

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                    • #160
                      Originally posted by Barnabas
                      This reminds me of Argentina 7 years ago.


                      At least most people will not lose their savings.
                      It's not even close... Argentina was a true catastrophe on local level... this is merely seismic movement, but the ground will not be opening

                      as for

                      quote:
                      Originally posted by Victor Galis
                      The thing that makes me wonder though... how much more bad debt can the US govt. take on before its creditors get worried.


                      Lots

                      It would basically cause a worldwide economic collapse if confidence were lost in US treasuries. That would be the end. There is no stronger entity than the full faith and credit of the US government.


                      I think they are getting worried, rightfully so, but there is nowhere to run so it's interest of big boys to hold and bear the brunt together Japan, China, Middle East and US holding hands ... but if anything this will permanently weaken US/Dollar standing of "total safety"... that might be the final effect of this implosion once the movement finishes...

                      btw... before F&F and after... US in the superleague now?

                      Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
                      GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"

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                      • #161
                        Canada
                        "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                        Ben Kenobi: "That means I'm doing something right. "

                        Comment

                        • #162
                          It's more of accounting change than a real change though. Moving the GSE's debt to the treasury's books doesn't actually create any new debt generally speaking (thus no need for new foreign capital) and they were already treated as if they were state-guaranteed. Moreover, the lionshare of the GSE's debt is asset-backed and sound.
                          DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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                          • #163
                            Originally posted by Colonâ„¢
                            It's more of accounting change than a real change though. Moving the GSE's debt to the treasury's books doesn't actually create any new debt generally speaking (thus no need for new foreign capital) and they were already treated as if they were state-guaranteed. Moreover, the lionshare of the GSE's debt is asset-backed and sound.
                            So it always was this high? I seem to remember Roland talking about how it was actually this high.

                            At any rate, I don't think it matters. If the **** really hits the fan its not going to be because of too much public debt.
                            I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                            - Justice Brett Kavanaugh

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                            • #164
                              Originally posted by OneFootInTheGrave
                              I think they are getting worried, rightfully so, but there is nowhere to run so it's interest of big boys to hold and bear the brunt together Japan, China, Middle East and US holding hands ... but if anything this will permanently weaken US/Dollar standing of "total safety"... that might be the final effect of this implosion once the movement finishes...
                              It is not the dollar that is "total safety" but the "fullfaith and credit of the US government".

                              Percent of GDP is one thing, but it is not just the output of the United States that backs treasuries. It is also the assets of the United States. If US treasuries ever became insolvent, then the world's economy id way done. That is why, even with yields very low and the dollar weakening you are seeing a flight to treasuries that you haven't seen in years. Prices for bonds were incredibly high today and yields plunged. US treasuries are the world's last "safe haven" for if they go then it is over.
                              "I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003

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                              • #165
                                It's going to happen at the same time.

                                It's the stock markets that are going to tumble. I'm gonna laugh when you guys all invest in it and it keeps going down.
                                I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                                - Justice Brett Kavanaugh

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