With the silver bullets of emergency 75 bp Fed rate cut, 125 bps Fed rate cut in 1 week span, and economic stimulus package already having been fired, it's gonna be interesting to see what's left in the revolver when the US market opens tomorrow. Maybe the revolver finally goes in the mouth.
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No way. The concern now lies with the world economy. An obvious technical foundation is being built in the US markets supporting a stable bottom. Investors are dying to get back into this market and they're just waiting for the dust to clear.Originally posted by DrunkenLullabyComment -
OK, we agree to disagree then. Good luck in however you play it.Originally posted by isetcap
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On a slightly related off-topic note:
Isn't it great to be an insurance company of any kind? You take in all the premia you want and when disaster strikes, you get others to bail you out (bond insurers) or simply refuse to pay (Katrina insurers). Nice gimmick.Comment -
Kind of similar to the poor souls who are having the misfortune of being unable to make those pesky mortgage payments. They pay until they just aren't able to anymore then they beg the government (via taxpayers) to bail them out by disallowing foreclosures and freezing their interest rates. It's sound socialist policy but last time I checked we are a capitalist marketplace, and economic instability awaits.Originally posted by DrunkenLullabyComment -
Well, at least on THIS topic, we agree 100%. F*ck all these people who didn't educate themselves/take the time to figure out if they could actually afford their mortgage. Wash 'em down the sewers Travis Bickle-style.Originally posted by isetcap
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A house is the most important asset most individuals possess in this country. People take out mortgages thinking they'd like to pay accordingly but if things get tough, just like everything else they think they can get away with paying when some money falls in their laps. Wait for the lottery to hit. Then the big, evil bank comes along, and just because they want to make money, they evict the poor homeowner. Cry me a river. I worry much more about the liquidity of our financial sector than the plight of irresponsible idiots. Instead of propping up this artificial housing value market, it's time to let the adjustment take place and move forward. Trimming the fat is a necessity in today's economic climate. We can't afford the "sympathy" that all these clowns are asking for.Comment -
What's funny (and which nicely ties together the 2 threads you & I have been debating in) is that this highly "conservative" "core Republican" government led by GWB is taking the most liberal economic stance I can recall any US government taking in my lifetime by bailing out these f*ckwads.Originally posted by isetcapComment -
Isn't that the truth! I would point out that the current position is that there will be no further assistance on this issue, but the Democratic candidates are jumping on it as an opportunity to look like they're out there for the small people. Both led their last debate by agreeing it was necessary to freeze interest rates on mortgages effectively removing all pricing value from the proliferation of ARM products saturating the market. Economically, it's a disastrous idea that ultimately would never be implemented but it makes me wonder if either of them are actually going to make things better when they come in with their "changes".Originally posted by DrunkenLullabyComment -
Ayep. Perfect example of why all career politicians in both parties pretty much suck. Say whatever it takes to get votes. Telling the truth or asking the populace to take responsibility for their own shit will get you nowhere.Originally posted by isetcapComment -
Their last debate opened with 2 issues they feel are very important. One is the housing issue which we have previously discussed. The other is health care. Hillary, for some reason, can't ever seem to move herself away from "universal health care". Obama wants some kind of "subsidized health care" I suppose. Either way, we all should know by now that those are pipe dreams. The economy will not support either of these policies and I have to hope they have economic advisors that are pointing this out to them. So there you have two major issues for the Democrats for which there would be severe economic repercussions if either were to be implemented. Ultimately I don't think either agenda will be move forward but it's this kind of pandering that disinterests me in either candidate.Comment
