Next credit shoe that is falling - DFWstangs Forums
 
LinkBack Thread Tools Display Modes
post #1 of 16 (permalink) Old 02-16-2009, 07:58 PM Thread Starter
Married Man on 14Feb2010
 
TexasDevilDog's Avatar
 
Join Date: Jun 2001
Location: Fort Worth, Texas (North Side)
Posts: 14,140
Next credit shoe that is falling

Quote:
Stephen Jen, currency chief at Morgan Stanley, said Eastern Europe has borrowed $1.7 trillion abroad, much on short-term maturities. It must repay – or roll over – $400bn this year, equal to a third of the region's GDP. Good luck. The credit window has slammed shut.
http://www.telegraph.co.uk/finance/c...-meltdown.html

Oh boy, better start up congress to pass a couple hundred billion $$$ more to help the banks cover these bad loans later this year.
TexasDevilDog is offline  
Sponsored Links
Advertisement
 
post #2 of 16 (permalink) Old 02-17-2009, 06:58 AM
Lifer
 
Ylw 98~~SNAKE~~'s Avatar
 
Join Date: Sep 2000
Location: DFW
Posts: 13,083
fire up the printing presses oh thats right they are already running 24/7

98 Brokra
Ylw 98~~SNAKE~~ is offline  
post #3 of 16 (permalink) Old 02-17-2009, 07:43 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
I'm really amazed that credit cards debts aren't crumbling. Maybe they are and the banks are just keeping it quiet?

Could be a brilliant plan by the US, bankrupt the rest of the world and then issue them bailout loans.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


Sean88gt is offline  
 
post #4 of 16 (permalink) Old 02-18-2009, 04:56 PM
T5-T56-Tremec specialist
 
thesource's Avatar
 
Join Date: Nov 2004
Location: Heading back to Plentywood
Posts: 8,389
Quote:
Originally Posted by Ylw 98~~SNAKE~~ View Post
fire up the printing presses oh thats right they are already running 24/7
They are on warp speed already !!!! I'm givin her all she's got captain .
thesource is offline  
post #5 of 16 (permalink) Old 02-18-2009, 05:02 PM
DFWMUSTANGS.NET
 
Join Date: Jun 2007
Posts: 3,635
Quote:
Originally Posted by thesource View Post
They are on warp speed already !!!! I'm givin her all she's got captain .
Aw... Treasury secretary/chief engineer Scotty. Brilliant!
sc281_99-0135 is offline  
post #6 of 16 (permalink) Old 02-18-2009, 05:23 PM
ebay pimp
 
Join Date: Oct 2001
Location: Carrollton, TX
Posts: 4,360
It seems the whole world is going to have to write off a few hundred trillion dollars...just wipe the slate clean.

Since it's apparent that business & governments the world over have lied about assets & earnings....Obviously the money never really existed
White trash wagon is offline  
post #7 of 16 (permalink) Old 02-18-2009, 05:31 PM
How you doin'
 
STANGGT40's Avatar
 
Join Date: Mar 2001
Location: 8 Rib > 6 Rib
Posts: 28,254
so if every country is funding banks and writing off trillions of dollars, i guess everyone will just cancel eachother out. forex investors are in a quandary on which currency should fall against which...they're all in the same boat.
STANGGT40 is offline  
post #8 of 16 (permalink) Old 02-18-2009, 05:43 PM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by White trash wagon View Post
It seems the whole world is going to have to write off a few hundred trillion dollars...just wipe the slate clean.

Since it's apparent that business & governments the world over have lied about assets & earnings....Obviously the money never really existed
Which brings up the thought, if all the governments involved got together and said "it's all good, let's start from scratch, we're all rich again!" what would happen? Would the hardest part be convincing the people?

Unlike America, which generally forgives the money we lend out, the other countries still want our cash.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


Sean88gt is offline  
post #9 of 16 (permalink) Old 02-18-2009, 06:24 PM
WE ARE THE CHAMPIONS!
 
Sgt Beavis's Avatar
 
Join Date: Jul 2002
Location: Lake Dallas, TX
Posts: 10,859
Quote:
Originally Posted by Sean88gt View Post
I'm really amazed that credit cards debts aren't crumbling. Maybe they are and the banks are just keeping it quiet?

Could be a brilliant plan by the US, bankrupt the rest of the world and then issue them bailout loans.
I'm curious to see if consumer debt is going up or down in the last 30 days.

I'm keeping mine at $0.00 for the foreseeable future. I'm not buying anything I can't afford to pay cash for. I'm even putting the 'Stang up for sale to kill that debt.

We're Adopting. Contact us through our website.

http://www.theboyetts.com

You can also LIKE us on Facebook
Sgt Beavis is offline  
post #10 of 16 (permalink) Old 02-18-2009, 06:27 PM
DFWMUSTANGS.NET
 
Join Date: Jun 2007
Posts: 3,635
Quote:
Originally Posted by Sgt Beavis View Post
I'm curious to see if consumer debt is going up or down in the last 30 days.

I'm keeping mine at $0.00 for the foreseeable future. I'm not buying anything I can't afford to pay cash for. I'm even putting the 'Stang up for sale to kill that debt.
smart move.
sc281_99-0135 is offline  
post #11 of 16 (permalink) Old 02-19-2009, 11:47 AM
BANNED
 
mustangguy289's Avatar
 
Join Date: Dec 2001
Posts: 10,098
Quote:
Originally Posted by Sean88gt View Post
I'm really amazed that credit cards debts aren't crumbling. Maybe they are and the banks are just keeping it quiet?

.
What do you mean by this crumbling.. as if banks are going to forgive peoples CC debt.. they won't and they shouldn't.
mustangguy289 is offline  
post #12 of 16 (permalink) Old 02-19-2009, 11:54 AM
Lifer
 
Ylw 98~~SNAKE~~'s Avatar
 
Join Date: Sep 2000
Location: DFW
Posts: 13,083
Quote:
Originally Posted by mustangguy289 View Post
What do you mean by this crumbling.. as if banks are going to forgive peoples CC debt.. they won't and they shouldn't.
C'mon now Obama says its ok not to pay your bills! He wants the banks to lend out more money to broke dicks so we can jump start this broken ass economy...

98 Brokra
Ylw 98~~SNAKE~~ is offline  
post #13 of 16 (permalink) Old 02-19-2009, 12:53 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by Sean88gt View Post
I'm really amazed that credit cards debts aren't crumbling. Maybe they are and the banks are just keeping it quiet?

Could be a brilliant plan by the US, bankrupt the rest of the world and then issue them bailout loans.
Credit cards aren't crumbling because people are paying them off. That's part of the personal savings rate....paying off debt is considered "saving" because it increases a household's net worth. The money comes from not buying things.
AL P is offline  
post #14 of 16 (permalink) Old 02-19-2009, 12:54 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by Sgt Beavis View Post
I'm curious to see if consumer debt is going up or down in the last 30 days.

I'm keeping mine at $0.00 for the foreseeable future. I'm not buying anything I can't afford to pay cash for. I'm even putting the 'Stang up for sale to kill that debt.
I haven't seen data but it is my understanding that it has been falling for months.
AL P is offline  
post #15 of 16 (permalink) Old 02-19-2009, 01:01 PM
BANNED
 
mustangguy289's Avatar
 
Join Date: Dec 2001
Posts: 10,098
Quote:
Originally Posted by AL P View Post
Credit cards aren't crumbling because people are paying them off. That's part of the personal savings rate....paying off debt is considered "saving" because it increases a household's net worth. The money comes from not buying things.
But if everyone is paying them off.... that means they are really not saving. Therefore if they lose their jobs they will be likely to use their cc in order to put food on the table.
mustangguy289 is offline  
post #16 of 16 (permalink) Old 02-19-2009, 01:14 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by mustangguy289 View Post
But if everyone is paying them off.... that means they are really not saving. Therefore if they lose their jobs they will be likely to use their cc in order to put food on the table.
Stop and think about it though, the vast majority of people aren't going to lose their jobs. We still have over 90% employment. But people are in crisis mode, which is what causes this.

As for the topic of this thread, if the Eastern European economies collapse, look for a revival of Communism/Socialism/Fascism. A destroyed economy is a perfect incubator for the next big conflict.
AL P is offline  
Sponsored Links
Advertisement
 
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the DFWstangs Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome