Is this possibility too hard to believe? - DFWstangs Forums
View Poll Results: Is this possibility too hard to believe?
This is a likely possibility 7 17.50%
I don't think it will happen, but I can see it happening 13 32.50%
A NWO (one world currency/govt) will happen, but will not be a catastrophic event like this 2 5.00%
This cannot and will not happen 8 20.00%
Glenn Beck's portfolio is 20 million percent above bullet's 10 25.00%
Voters: 40. You may not vote on this poll

 
LinkBack Thread Tools Display Modes
post #1 of 39 (permalink) Old 11-06-2010, 11:03 PM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Is this possibility too hard to believe?

Glenn Beck posted up a 15-day ladder to chaos possibility on the world's reaction to the next "big thing" such as another 9/11, or in this case, China doing what I think it WILL eventually do. He's not talking about the next 15 days, rather 15 days following such an event.

This summary was provided by another viewer, but it's basically broken down well.

Day 1 of Glenn Beck's scenario begins with China announcing that they will no longer buy U.S. Treasury bonds. This is not such a farfetched idea, as they have certainly slowed their rate of bond purchases and have voiced public criticism of Ben Bernanke's announcement this week of a second round of quantitative easing.

Day 2 and 3 focuses on Wall Street which gets 'spooked' by China's announcement. The volume of stock sales is ultra low as rumors of instability abound. By Day 5, the world begins to react. Markets in Asia drop 10%. The American and European markets also decline a like amount. The European Central Bank reacts quickly, raising interest rates to attract capital as investors seek a 'flight to safety'.

Day 7 of Glenn Beck's scenario has the U.S. stock markets closed while the Federal Reserve Board holds an emergency meeting. Needless to say the government is certainly participating in decisions during the next 48 hours. With some vague pledge of 'a plan', the markets reopen on Day 8. They may even rally a bit, gaining 500 points or so. On Day 9, things seem to be stable.

Day 10 and the U.S. Dollar loses 10-15% of it's value! The Fed's quantitative easing has pushed a sudden burst of inflation as global banks try to divest themselves of the reserves of dollars. How possible is this? Again, following Bernanke's statements on Wednesday, financial leaders in China, South Korea and Thailand have already said this week that they will act together, in concert, to protect themselves from a devalued dollar.

Day 11, the Fed meets again. On Day 12, in Beck's scenario, the Fed decides to follow the Euro Bank's move of increasing interest rates. Far from securing stability and confidence, the sudden change in direction by the Fed has the opposite effect.

Day 13, Lucky 13 — GLOBAL MELTDOWN! All of the world's markets begin to crash as confidence in 'The System' goes out the window. It's every man (and lady) for themselves! The value of all paper securities, be they mortgages, stocks bonds, currency, is questionable. The markets go into total free-fall, losing perhaps 20% or more in a single day.

On Day 14 of Glenn Beck's scenario, the IMF (International Monetary Fund) and the G20 financial leaders meet. In a televised, joint announcement, they announce an emergency plan to restructure all 'sovereign debt', the debt held by each nation. Perhaps even a new currency or basket of currencies for global trade to replace the U.S. dollar. The beginning of the New World Order.

On Day 15, the public begins to panic. In the past two weeks, the value of their currency has declined some 20% or more. The cost of food, oil, etc, has jumped. Bank runs are televised as people get whatever cash they can and buy whatever is available from the shelves of grocery stores. The entire nation is behaving as if a hurricane is approaching. 'The System' is utterly swamped.

In polls taken earlier this year, more than 70% of Americans believe that things could get much worse. That another economic collapse could happen. A high-ranking finance official from China, Xia Bin, warned yesterday that the Federal Reserve’s plan for a second round of quantitative easing would not work and could lead to another collapse. Both of Glenn's guests, authors Damon Vickers and Brad Thorn agree that the scenario is a very possible one. Beck said that during the course of researching his latest book, "BROKE", some of the 30+ economists he talked with think that even 15 days may be optimistic. A sudden crash could happen in 3 days from an event such as China ending its purchase of U.S. bonds.
Denny is offline  
Sponsored Links
Advertisement
 
post #2 of 39 (permalink) Old 11-06-2010, 11:14 PM
Factory Issue
 
Yale's Avatar
 
Join Date: Sep 2003
Location: Shippensburg, PA
Posts: 12,295
I think it's a scenario that could become self-fulfilling if the market "believes" that's what would happen. There's no room in that plan for independent action on the part of the US government, or private investors, so the whole thing would have to fall like dominos, which it won't. I think the bigger possibility is a slip down into dacentralized oligarchies, a la post-soviet russian republics. That plan ignores any value in the market at all, which inflation doesn't eliminate, just change. If we no longer had a buyer of our debt, I don't see us just handing ourselves over to the UN or an NWO. I see rapid shocks in pricing in both directions, and there's no way big investors would stand around and ignore those peaks and valleys. Don't get me wrong, it would be a throat-cutting for the vast majority, but the answer might not be just, "shut the NYSE down." That doesn't really matter anyway, since those with money could always invest in foreign markets just to keep their money moving. I think there would just be a new incarnation of the current shell game developed.

Give me a dollar.
Yale is offline  
post #3 of 39 (permalink) Old 11-06-2010, 11:20 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
China says it isn't buying any more bonds. At the next debt auction, rates are higher but other investors step in and buy in their place because the higher rates are attractive. Money leaves equities and goes to bonds. Because of that the market sells off. Nothing we haven't seen before.
AL P is offline  
 
post #4 of 39 (permalink) Old 11-06-2010, 11:30 PM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Quote:
Originally Posted by AL P View Post
China says it isn't buying any more bonds. At the next debt auction, rates are higher but other investors step in and buy in their place because the higher rates are attractive. Money leaves equities and goes to bonds. Because of that the market sells off. Nothing we haven't seen before.
Do you honestly think there will still be enough people with faith in those bonds by then?
Denny is offline  
post #5 of 39 (permalink) Old 11-06-2010, 11:33 PM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Quote:
Originally Posted by Yale View Post
I think it's a scenario that could become self-fulfilling if the market "believes" that's what would happen. There's no room in that plan for independent action on the part of the US government, or private investors, so the whole thing would have to fall like dominos, which it won't. I think the bigger possibility is a slip down into dacentralized oligarchies, a la post-soviet russian republics. That plan ignores any value in the market at all, which inflation doesn't eliminate, just change. If we no longer had a buyer of our debt, I don't see us just handing ourselves over to the UN or an NWO. I see rapid shocks in pricing in both directions, and there's no way big investors would stand around and ignore those peaks and valleys. Don't get me wrong, it would be a throat-cutting for the vast majority, but the answer might not be just, "shut the NYSE down." That doesn't really matter anyway, since those with money could always invest in foreign markets just to keep their money moving. I think there would just be a new incarnation of the current shell game developed.
That is kinda where I'm at. It will all really be in the hands of what the market believes will happen.

I also can't just see the US fold to a one world currency with just a knee-jerk reaction, but I can see the rest of the world moving towards it with an agreement of someone like the EU and China, causing us to eventually give in to stay in world trade.
Denny is offline  
post #6 of 39 (permalink) Old 11-07-2010, 05:41 AM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by Denny View Post
Do you honestly think there will still be enough people with faith in those bonds by then?
Why wouldn't they? Beck's little scenario doesn't mention a default, just that China says they don't want any more debt. And you are correct, fewer of these people would want them at a low yield but let the yield go to something great like 8% and see how many people dump stock and real estate to run for US Treasuries.

If they said they would pay a 50% yield would you buy them today? Of course you would, even with your viewpoint that the world was ending, you would buy them and hope you get a couple of years out of them before your prediction comes true.

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #7 of 39 (permalink) Old 11-07-2010, 06:07 AM
Lifer
 
Join Date: Nov 2001
Location: Ellis County
Posts: 18,370
I liked Glenn Beck so much more when he was just a pundit. Almost every Mormon I know has that little "catastrophic" or "survivalist" quirk about them. It almost like they try to legitimizes the non- religous part of that faith (if that makes sense).

CHL holder and Conservative...AKA "Domestic Terrorist"
Vertnut is offline  
post #8 of 39 (permalink) Old 11-07-2010, 06:38 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Beck is fatalistic. I use to enjoy listening to him but he started going off the deep end. His views assume that the investing class is as close to paranoia as Beck is.

If a meltdown happened like he is talking, no one would think twice about the market and local fighting, crime, theft, etc would erupt as fear and panic set in.

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 39 (permalink) Old 11-07-2010, 06:48 AM
WE ARE THE CHAMPIONS!
 
Sgt Beavis's Avatar
 
Join Date: Jul 2002
Location: Lake Dallas, TX
Posts: 10,859
Glenn Beck is almost as stupid as Ben Bernanke...

ALMOST but not quite. Bernanke is well below the moronic level.

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 39 (permalink) Old 11-07-2010, 06:50 AM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by Sgt Beavis View Post
Glenn Beck is almost as stupid as Ben Bernanke...

ALMOST but not quite. Bernanke is well below the moronic level.
Doesn't he do commercials for a gold or silver company? I guess he understands marketing.

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #11 of 39 (permalink) Old 11-07-2010, 07:04 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by AL P View Post
Doesn't he do commercials for a gold or silver company? I guess he understands marketing.
I wonder how far he is from building a complex and offering 'survival golden tickets' to his listeners? He profits on fear. Listen to him long enough and you begin to feel totally freaked out.

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 #12 of 39 (permalink) Old 11-07-2010, 08:21 AM
Lifer
 
Join Date: Aug 2002
Location: Dallas, Texas
Posts: 1,163
I guess the only thing I got out of the hole thing was, we, (the U.S.) should not be in debt. Congress should never borrow money. And when we are in debt to another country, it's because congress wants it that way. There are blind alleys in every direction that are unseen by the average Joe that we could venture down due to being in debt.

Questions by one average Joe.

What happens when you or I get too far into debt? You loose everything right, or do you go into bankruptcy protection?

Can the U.S. hide under these same bankruptcy protections with out a fight?

If we are truly in debt up to 92% of our GDP, it is to me, impossible to every pay off this debt. This would mean we answer to the debt holder. Why would any group of seemingly rational people (congress) put us so far in debt? <---- Go ahead answer this one. I would love to hear the excuses for this one.


As far as out come of it all. This is still unknown, and too many different directions we could go, to predict. I just know, it will not be good for any of us. (the average Joe) Not even Joe the plumber.



All men should know Honor first, above all else!

Honor is not holding your hand out for something you did not earn.
Honor is not forcing your ideas, or belief on others.
Honor is not something given to you by way of job, or title.

Honor is learned, earned, practiced and respected by all decent men and women.
tazz007 is offline  
post #13 of 39 (permalink) Old 11-07-2010, 07:03 PM
Lifer
 
Ylw 98~~SNAKE~~'s Avatar
 
Join Date: Sep 2000
Location: DFW
Posts: 13,083
If China quits buying our debt why would anyone else want to?

98 Brokra
Ylw 98~~SNAKE~~ is offline  
post #14 of 39 (permalink) Old 11-07-2010, 07:19 PM
Time Served
 
Join Date: Sep 2010
Posts: 184
a little off topic here but i have to ask. im a huge financial noob but i'm trying to learn so hopefully i won't get flamed too hard for being so ignorant.

why on earth would someone buy someone else's debt? why would you buy debt??

the only thing i ever defaulted on was a sprint bill/contract because they broke the contract in my opinion. and i never have, and never will pay the debt. i went so long without paying the $304 debt that its not even on my credit report anymore. (point being that some dirty collection agency ended up buying the debt from spring and they'll never get paid)

using that as the only example I know of, i can't imagine why someone would buy debt. my whole concept of buying something is that there must be something of value to give to the person who is offering to pay. debt isn't something physical that they can ever really collect on. they can't say "well, you never finished paying for the debt we bought from you. so we're here to collect the debt that we paid for. now hand over the debt." ergo, i don't get it.

Last edited by 92Gt5liter; 11-07-2010 at 07:26 PM.
92Gt5liter is offline  
post #15 of 39 (permalink) Old 11-07-2010, 07:43 PM
Lifer
 
Ylw 98~~SNAKE~~'s Avatar
 
Join Date: Sep 2000
Location: DFW
Posts: 13,083
Quote:
Originally Posted by 92Gt5liter View Post
a little off topic here but i have to ask. im a huge financial noob but i'm trying to learn so hopefully i won't get flamed too hard for being so ignorant.

why on earth would someone buy someone else's debt? why would you buy debt??

the only thing i ever defaulted on was a sprint bill/contract because they broke the contract in my opinion. and i never have, and never will pay the debt. i went so long without paying the $304 debt that its not even on my credit report anymore. (point being that some dirty collection agency ended up buying the debt from spring and they'll never get paid)

using that as the only example I know of, i can't imagine why someone would buy debt. my whole concept of buying something is that there must be something of value to give to the person who is offering to pay. debt isn't something physical that they can ever really collect on. they can't say "well, you never finished paying for the debt we bought from you. so we're here to collect the debt that we paid for. now hand over the debt." ergo, i don't get it.
Im a noob also but the reason to purchase debt or bonds is to get a yield on your investment. Basically your purchasig the debt to get back more than what you initially invested. The only problem is if you purchase debt from someone who cannot pay it back.

98 Brokra
Ylw 98~~SNAKE~~ is offline  
post #16 of 39 (permalink) Old 11-07-2010, 08:00 PM
T5-T56-Tremec specialist
 
thesource's Avatar
 
Join Date: Nov 2004
Location: Heading back to Plentywood
Posts: 8,389
I agree with the comments about Beck going off the deep end. While its possible that we could see complete collapse in 15 days, I don't think it will go down like he's portrays it will. One thing is for sure, he is opening people's eyes to things they would not have even considered 2 years ago. He serves a purpose but people need to do their own research and figure out whats best for them.
thesource is offline  
post #17 of 39 (permalink) Old 11-07-2010, 08:06 PM
Genetically Blessed
 
Join Date: Jul 2002
Location: An Investment Bank
Posts: 13,733
Quote:
Originally Posted by Ylw 98~~SNAKE~~ View Post
Im a noob also but the reason to purchase debt or bonds is to get a yield on your investment. Basically your purchasig the debt to get back more than what you initially invested. The only problem is if you purchase debt from someone who cannot pay it back.
Just want to jump in and say that credit risk (what you're describing) is simply one of many risks involved with purchasing debt...as with any investment, risk is involved.

Last edited by slow99; 11-07-2010 at 08:12 PM.
slow99 is offline  
post #18 of 39 (permalink) Old 11-07-2010, 08:11 PM
Genetically Blessed
 
Join Date: Jul 2002
Location: An Investment Bank
Posts: 13,733
Quote:
Originally Posted by thesource View Post
I agree with the comments about Beck going off the deep end. While its possible that we could see complete collapse in 15 days, I don't think it will go down like he's portrays it will. One thing is for sure, he is opening people's eyes to things they would not have even considered 2 years ago. He serves a purpose but people need to do their own research and figure out whats best for them.
I can hardly bring myself to post on, or even read, a lot of the stuff in this forum...but this post is pretty solid.
slow99 is offline  
post #19 of 39 (permalink) Old 11-08-2010, 10:12 AM
Lifer
 
Join Date: Mar 2007
Posts: 1,089
as someone mentioned before, there is value in the market, when the dollar looses the market and commodities gain. just look at the dollar index vs the dow the last few months, they are exactly opposites of each other.

I think beck is right to fear a currency war and a rapidly declining dollar. main street looses, wall street wins, democracy acts, if your an investor you take your profit and get the fuck out of the county, and everyone left is screwed.

cannonball996 is offline  
post #20 of 39 (permalink) Old 11-08-2010, 10:46 AM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by slow99 View Post
I can hardly bring myself to post on, or even read, a lot of the stuff in this forum...but this post is pretty solid.
I come to read so I can burst out laughing. Sometimes it really takes me away from the office for a bit.
AL P is offline  
post #21 of 39 (permalink) Old 11-08-2010, 03:24 PM
T5-T56-Tremec specialist
 
thesource's Avatar
 
Join Date: Nov 2004
Location: Heading back to Plentywood
Posts: 8,389
He's dedicating a whole week to dig into this issue. Today's show was just a glimpse of it.
thesource is offline  
post #22 of 39 (permalink) Old 11-09-2010, 07:57 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
New reports are saying that BOA is in deep shit, QE2 won't work and may have the inverse effect, so my question is, what happens if a catalyzing event takes place such as a run or a loss in faith of the system?

If hyper inflation hits, how long does everything take to stabilize and balance out?

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 #23 of 39 (permalink) Old 11-09-2010, 08:24 AM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Exactly how is Bank of America in deep shit?
AL P is offline  
post #24 of 39 (permalink) Old 11-09-2010, 08:46 AM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Quote:
Originally Posted by Sean88gt View Post
New reports are saying that BOA is in deep shit, QE2 won't work and may have the inverse effect, so my question is, what happens if a catalyzing event takes place such as a run or a loss in faith of the system?

If hyper inflation hits, how long does everything take to stabilize and balance out?
If it's BofA, then it'll be the rest as well. JPMC is going to get butt-hurt with the lawsuit, fo sho.

If hyper hits, no one really knows, but you can look at Myanmar and Zimbabwe as references.
Denny is offline  
post #25 of 39 (permalink) Old 11-09-2010, 01:33 PM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by AL P View Post
Exactly how is Bank of America in deep shit?
http://www.bloomberg.com/news/2010-1...than-weil.html

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 #26 of 39 (permalink) Old 11-09-2010, 01:55 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
This week BAC sold a huge chunk of their share of Blackrock for $8.5 billion. I bet that will keep the lights on for a while.
AL P is offline  
post #27 of 39 (permalink) Old 11-09-2010, 01:59 PM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by AL P View Post
This week BAC sold a huge chunk of their share of Blackrock for $8.5 billion. I bet that will keep the lights on for a while.
I'm not saying they are posting signs that tell everyone jumping is faster than the elevator, just saying that perception goes a long way. If sheeple act upon hearing news, what is the potential end game?

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 #28 of 39 (permalink) Old 11-09-2010, 02:22 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by Sean88gt View Post
I'm not saying they are posting signs that tell everyone jumping is faster than the elevator, just saying that perception goes a long way. If sheeple act upon hearing news, what is the potential end game?
Sheeple always act on hearing news. That is how you make money. At the end of the day, the mortgage put back issue is hard to quanitfy and very possibly overblown. That creates uncertainty and the sheep sell. Then people like Beck start talking about how B of A is going to collapse. I would bet that Glenn Beck wouldn't know a balance sheet from a cat's asshole.

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #29 of 39 (permalink) Old 11-10-2010, 05:30 AM
Time Served
 
Join Date: Nov 2003
Location: The hooker Hotel
Posts: 569
I certainly hope that he is correct. I'll become ultra rich very quickly by buying up devalued assets and may be able able to fulfill my life long dream of becoming a warlord like Tito in Yugoslavia.

Rule#2 Double Tap
svo855 is offline  
post #30 of 39 (permalink) Old 11-10-2010, 05:57 AM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Quote:
Originally Posted by svo855 View Post
I certainly hope that he is correct. I'll become ultra rich very quickly by buying up devalued assets and may be able able to fulfill my life long dream of becoming a warlord like Tito in Yugoslavia.
At the expense of the rest of society's well-being? No thanks. I'll make out better than most I know, actually anyone I know. I would just rather be wrong and make an eventual big-ass profit and go about my business.
Denny is offline  
post #31 of 39 (permalink) Old 11-10-2010, 06:14 AM
Time Served
 
Join Date: Nov 2003
Location: The hooker Hotel
Posts: 569
Quote:
Originally Posted by Denny View Post
At the expense of the rest of society's well-being? No thanks. I'll make out better than most I know, actually anyone I know. I would just rather be wrong and make an eventual big-ass profit and go about my business.

Do you pull a band-aid off slowly or do you rip it off quickly? The sooner things burn down the faster we can start rebuilding. If it's coming why fart around and drag things out?

Rule#2 Double Tap
svo855 is offline  
post #32 of 39 (permalink) Old 11-10-2010, 06:19 AM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Quote:
Originally Posted by svo855 View Post
Do you pull a band-aid off slowly or do you rip it off quickly? The sooner things burn down the faster we can start rebuilding. If it's coming why fart around and drag things out?
If it happens it will be quickly no matter what.
Denny is offline  
post #33 of 39 (permalink) Old 11-10-2010, 06:45 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by svo855 View Post
Do you pull a band-aid off slowly or do you rip it off quickly? The sooner things burn down the faster we can start rebuilding. If it's coming why fart around and drag things out?
If this happened there would be no rebuilding in our lifetime. It would be Red Dawn-esque with small guerilla factions fighting larger groups that are better armed. There are just so many idiots that are convinced their way is the only correct way that we would be in an unending conflict.

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 #34 of 39 (permalink) Old 11-10-2010, 07:51 AM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
This is a pretty strong vote in favor of B of A's balance sheet...

Bank of America Chairman Holliday Buys $378,150 Of Stock >BAC

Nov 10, 2010 0959 (ET)


By David Benoit

Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Bank of America Corp.'s (BAC) Chairman, Charles Holliday, recently more than doubled his holdings in the bank, spending $378,150 in the process.

The chairman bought 30,000 shares in two separate moves, raising his personal stake to 54,650, according to a filing Wednesday. Half the shares were purchased at $12.62 a share and the other half at $12.59.

Separately, Bank of America board member Robert Scully, a former deal-making banker at Morgan Stanley (MS), purchased 39,500 shares, at $12.45 each, a $491,715 value which went into a trust. Scully now holds 77,655 shares, though the new purchase is considered an indirect holding, according to the filing.

Bank of America shares, which were up a fraction in premarket trading to $12.35, have lost 19% this year. But the shares are up 7.2% in November as financial stocks have rallied following a series of news events in the U.S. including the midterm elections and the Federal Reserve's decision to increase its direct actions to help the economy.

Holliday has only been chairman of the banking giant since April of this year after joining the company's board amid the government-forced shakeup in 2009. Holliday, who had once led chemical giant E.I. DuPont de Nemours & Co. (DD) as chief executive, took over the chairman role of Bank of America after helping select as chief executive Brian Moynihan. Kenneth Lewis held both roles until holders voted to split them in 2009.

-By David Benoit, Dow Jones Newswires; 212-416-2458; [email protected]

(END) Dow Jones Newswires

November 10, 2010 09:10 ET (14:10 GMT)

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #35 of 39 (permalink) Old 11-10-2010, 07:56 AM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Tha captain goes down with his ship. LOL
Denny is offline  
post #36 of 39 (permalink) Old 11-11-2010, 07:36 AM
BELIEVE, IT'S TIME!!!!
 
Who Needs 8's Avatar
 
Join Date: Mar 2001
Location: A little here, a little there . . .
Posts: 14,997
Exclamation

For the LOVE OF ALL THINGS HOLY . . . .

STOP LISTENING TO GLENN BECK!!!!!!!!!!!!

"The Pill": Helping control the Educated Population since 1960


Improve America's Education System: Have the High School Drop Outs Spayed and Neutered.


Stupid and Lazy breeds more Stupid and Lazy.


"Democracy is the worst form of government, except for all those other forms that have been tried from time to time." - Sir Winston Churchill


The DFWStangs Political Forum: Never underestimate the power of stupid people in large groups.
Who Needs 8 is offline  
post #37 of 39 (permalink) Old 11-11-2010, 08:09 AM Thread Starter
Out
 
Join Date: Apr 2000
Posts: 41,952
Shit, why didn't I just listen to Maston?!?!

WN8 in 2012!!!
Denny is offline  
post #38 of 39 (permalink) Old 11-11-2010, 09:33 AM
Time Served
 
Join Date: Dec 2005
Posts: 779
So, in Beck's scenario, China stops buying US Treasury's.

Well, what about the $800+ billion in US Treasury's that they are currently holding? That is still a big ass investment the US economy. Why panic when they are still invested so deep?

Hell, aren't they putting all the money here in the first place because there is not a better deal in the world? Who's economy stands tall and strong when the US economy suffers? What country has taken over the world financial scene in our current recession?

I don't see a doomsday possibility in Beck's scenario.

05 GT Torch Red C&L CAI, Diablo 93 tune, BMR LCR's & UCR, Pro 5.0, S UDP, Mac
<a href="http://giftube.com/"><img src="http://giftube.com/gifs/1016.gif" alt=""></a><br/><a style="padding:3px;background: transparent;color:#00ADEF;font-family:tahoma;font-size:10px;font-weight:bold;text-decoration:none;" href="http://giftube.com/" target="_blank">Gifs at Giftube.com </a>
jones4stangs is offline  
post #39 of 39 (permalink) Old 11-11-2010, 03:39 PM
Lifer
 
Trip McNeely's Avatar
 
Join Date: Mar 2004
Posts: 29,396
Quote:
Originally Posted by Who Needs 8 View Post
For the LOVE OF ALL THINGS HOLY . . . .

STOP LISTENING TO GLENN BECK!!!!!!!!!!!!
Shut up you fucking blowhard homo.

CANADIANS = DOUCHERS

Trip McNeely 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