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post #1 of 18 (permalink) Old 03-17-2008, 05:58 AM Thread Starter
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Credit squeeze applying more pressure to US

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The U.S. is at the receiving end of a massive margin call: Across the economy, wary lenders are demanding that borrowers put up more collateral or sell assets to reduce debts.

The unfolding financial crisis -- one that began with bad bets on securities backed by subprime mortgages, then sparked a tightening of credit between big banks -- appears to be broadening further. For years, the U.S. economy has been borrowing from cash-rich lenders from Asia to the Middle East. American firms and households have enjoyed readily available credit at easy terms, even for risky bets. No longer.
http://online.wsj.com/article/SB1205...ys_us_page_one
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post #2 of 18 (permalink) Old 03-17-2008, 12:11 PM
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IMO it's gonna get worse before it gets better. Let the chips fall where they may.
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post #3 of 18 (permalink) Old 03-17-2008, 12:51 PM
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post #4 of 18 (permalink) Old 03-17-2008, 02:56 PM
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Originally Posted by mikeb
IMO it's gonna get worse before it gets better. Let the chips fall where they may.
Unfortunately Bernake is doing his best to prevent those chips from falling.

IMO the end result will be a lot more chips falling.

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post #5 of 18 (permalink) Old 03-17-2008, 10:23 PM
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Two freakin' dollars a share for BS. If people don't realize the world is going to hell in a handbasket I don't know whatelse will convince them.

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post #6 of 18 (permalink) Old 03-17-2008, 10:28 PM
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Two freakin' dollars a share for BS. If people don't realize the world is going to hell in a handbasket I don't know whatelse will convince them.
That's nothing but straight up insanity. A-Rod's contract was worth more than Bear Stearns went for. That story, in my book, is the craziest thing I've personally experienced.
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post #7 of 18 (permalink) Old 03-17-2008, 10:34 PM
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That's nothing but straight up insanity. A-Rod's contract was worth more than Bear Stearns went for. That story, in my book, is the craziest thing I've personally experienced.
Wasn't to keep from them from declaring bankruptcy and scaring the public? I'm just askin. I'm an economics retard.

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post #8 of 18 (permalink) Old 03-17-2008, 10:52 PM
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Wasn't to keep from them from declaring bankruptcy and scaring the public? I'm just askin. I'm an economics retard.
Dude, if I had a large chuck of BS I'd be suing the Fed, JP Morgan and BS (interesting their stock symbol is BS, eh?)?

For $2 a share I'd be taking my chances in bankruptcy court.

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post #9 of 18 (permalink) Old 03-17-2008, 10:53 PM
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Originally Posted by black01gt
Wasn't to keep from them from declaring bankruptcy and scaring the public? I'm just askin. I'm an economics retard.
Dude, if I had a large chuck of BS I'd be suing the Fed, JP Morgan and BS (interesting their stock symbol is BS, eh?)?

For $2 a share I'd be taking my chances in bankruptcy court.

Ok, ok, BSC, but damn.

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post #10 of 18 (permalink) Old 03-17-2008, 11:06 PM
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Originally Posted by 01WhiteCobra
Dude, if I had a large chuck of BS I'd be suing the Fed, JP Morgan and BS (interesting their stock symbol is BS, eh?)?

For $2 a share I'd be taking my chances in bankruptcy court.

Ok, ok, BSC, but damn.
I heard today that a lot of BSC shareholders are mounting massive lawsuits. As well they should.
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post #11 of 18 (permalink) Old 03-17-2008, 11:23 PM
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Originally Posted by Sgt Beavis
Unfortunately Bernake is doing his best to prevent those chips from falling.

IMO the end result will be a lot more chips falling.
Yeah, raise the damn interest rates for Christ sake. Lowering them just makes it worse.
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post #12 of 18 (permalink) Old 03-17-2008, 11:28 PM
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Yeah, raise the damn interest rates for Christ sake. Lowering them just makes it worse.
They've lowered for the last few months and guess what? Economy still in the shitter. I had to cover some commodity bets today for God's sake. I honestly can agree with some of the Fed's actions, but this is getting ridiculous.
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post #13 of 18 (permalink) Old 03-17-2008, 11:31 PM
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Originally Posted by slow99
They've lowered for the last few months and guess what? Economy still in the shitter. I had to cover some commodity bets today for God's sake. I honestly can agree with some of the Fed's actions, but this is getting ridiculous.
It is fucking ridiculous. The "smart ones" don't know what the fuck to do and Hook 'Em on this site all of a sudden has all the answers.

The world has done a 180 and we're fucked.

Seriously... BSC for a quarter of billion? Sad, sad state of the world.

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post #14 of 18 (permalink) Old 03-17-2008, 11:32 PM
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WWRD?

Reagan said screw this, deregulate and raise rates. From 88 onward it was nothing but criticism of Reaganomics and the ushering in of almost riskless credit. Funny how politicaians ascribe their "Reaganesque" qualities and yet don't have a clue.

If Reaganomics was a failure, what do you call this bush-clinton bullshit?
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post #15 of 18 (permalink) Old 03-17-2008, 11:34 PM
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Quote:
Originally Posted by Casper
WWRD?

Reagan said screw this, deregulate and raise rates. From 88 onward it was nothing but criticism of Reaganomics and the ushering in of almost riskless credit. Funny how politicaians ascribe their "Reaganesque" qualities and yet don't have a clue.

If Reaganomics was a failure, what do you call this bush-clinton bullshit?
America has been a failure since the decoupling of gold to the Dollar and we let the dollar float.

35 years isn't anything in the grand scope of things.

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post #16 of 18 (permalink) Old 03-17-2008, 11:37 PM
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Originally Posted by 01WhiteCobra
It is fucking ridiculous. The "smart ones" don't know what the fuck to do and Hook 'Em on this site all of a sudden has all the answers.

The world has done a 180 and we're fucked.

Seriously... BSC for a quarter of billion? Sad, sad state of the world.
You're one of the ones I was thinking about yesterday evening when I saw that news break and was trying to explain to my wife..."NO, Bear Fucking Stearns just sold for $230 Million dollars, WTF??!" I'm telling everyone, insanity. Absolute insanity.
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post #17 of 18 (permalink) Old 03-17-2008, 11:41 PM
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Originally Posted by 01WhiteCobra
America has been a failure since the decoupling of gold to the Dollar and we let the dollar float.

35 years isn't anything in the grand scope of things.
You mean ending the Bretton Woods agreement?

I'm curious to hear more., I know Nixon's communist Keynesian policies were awful, but was this agreement really sustainable?
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post #18 of 18 (permalink) Old 03-18-2008, 12:01 AM
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Originally Posted by Casper
You mean ending the Bretton Woods agreement?

I'm curious to hear more., I know Nixon's communist Keynesian policies were awful, but was this agreement really sustainable?
It was the end of Bretton Woods... it really wasn't Nixon's fault. Nixon realized it wasn't sustainable. He did the hard thing of getting out of it and dealing with the consquences.

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