Global Correction

[Naam]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

[Plutarch]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

Extraordinary that farang would pay so much for something they cannot own.

As they say, one born every minute but in the land of illusions I suppose it is inevitable aberrant thinking should prevail.

[Naam]

I made a prediction a while back that something big was about to happen after sept 10 in one of the other threads. And indeed it did. I will now tell you that the next event will happen around the first or second week of Oct. We are just at the very start of a total meltdown of the current financial system. It will.

please don't forget to take your prescription pills Alex and watch out for birds shÍttÍng on your car. without your prophecies we wouldn't know how to cope with all the desasters happening each and every day and birdshÍt might give wrong results ♪♪♪

p.s. at what temperature (ºC) will the meltdown happen?

[lannarebirth]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

You know what they say. Location, location, location. When word got out you'd moved in, well, there was really only one way prices could go.

[Naam]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

Extraordinary that farang would pay so much for something they cannot own.

As they say, one born every minute but in the land of illusions I suppose it is inevitable aberrant thinking should prevail.

you are quite right my philosopher friend. it is extraordinary that i have paid a lot of money flying with my wife first class and business class and will do that in that in future too but we never owned or will own any of the aircrafts we use. i have and will pay extraordinary rates for hotel suites but i will never own any (the hotels are quite stingy and never offered me ownership of one) it is also extraordinary that a good friend of mine pays 8,300 (eight-thousand three-hundred) British Pounds per month rent for his 250m² flat (NOT house) in London but he does not own it. it is also extraordinary that there are people who pay 20 million dollars to orbit planet Earth in space but they won't own neither Earth nor the tiniest space in space.

shall i go on?

edited for addendum:

a wise man once said "if it flies, floats, rolls on wheels or fàcks DON'T BUY but RENT or LEASE it!" it seems he was opposed to ownership

Edited September 20, 2008 by Naam

[LaoPo]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

It is indeed peanuts , especially if one designs a golf course around the house....

LaoPo

[Naam]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

It is indeed peanuts , especially if one designs a golf course around the house....

LaoPo

tiny house and no pool

[LaoPo]

To be honest, I've never seen a cheap house in Thailand that was built by someone other than the owner,

anywhere. It's the land here that's cheap, and although it's come up in price, most areas remain cheap.

i can only agree with you LRB. especially in the community where i live land is dirt cheap. a mere 12.5 million Baht for one Rai is the asking price. the last two plots were sold for 10.9 and 11.6 million. now there is only only plot (american = "lot") left. if you compare that with the cost of an aircraft carrier it's really peanuts

It is indeed peanuts , especially if one designs a golf course around the house....

LaoPo

tiny house and no pool

did you miss the blue area around that rowing boat ?

Apart from that, the VILLA-with-veranda LOOKS tiny because of the size of the rowing boat but is in fact quite large...too large in fact since it takes 10 minutes to walk from the veranda to the kitchen and 10 minutes back. That's why a fridge has been installed at the veranda.

Next to that there's a bunch of nice girls, servings cool drinks and for the necessary massage in the afternoon....wearing various kinds of uniforms, depending on the climate

LaoPo

[Naam]

Apart from that, the VILLA-with-veranda LOOKS tiny because of the size of the rowing boat but is in fact quite large...too large in fact since it takes 10 minutes to walk from the veranda to the kitchen and 10 minutes back. That's why a fridge has been installed at the veranda.

Next to that there's a bunch of nice girls, servings cool drinks and for the necessary massage in the afternoon....wearing various kinds of uniforms, depending on the climate

LaoPo

where's the separate building for the mia nois which is mandatory that the senior wife is not bothered by their moaning and shrill cries when one visits them?

[bingobongo]

well, does anything really need to be said.......sell the bounce, and wait......

residential and now commercial property................

COMuntitled.bmp

RESuntitled.bmp

[lannarebirth]

Want to get really mad? Up until 2003, all investment banks were allowed only 12 to 1 leverage. Then in 2004, the SEC basically gave five banks (and only five banks) the ability to lever up 30 or even 40 to 1. Bet you can guess the five banks. Bear, Lehman, Merrill, Morgan and Goldman. Three down.

As Barry Ritholtz wrote: "So while the SEC runs around reinstating short selling rules, and clueless pension fund managers mindlessly point to the wrong issue, we learn that it was the SEC who was in large part responsible for the reckless leverage that led to the current crisis." (Don't get me started on blaming the short sellers. Let's not blame the people who leveraged up their companies 40 to 1 with bad investments.)

http://www.2000wave.com/article.asp?id=mwo091908

[tijnebijn]

interesting link lanna

Thanks for that .

[VegasVic]

Lao, Your unbiased view of anything to do with U.S. is only rivaled by your expert knowledge of U.S. politics I wish I had the time to get in depth about what is actually occuring, but that will have to wait until later. For now I will just say that it was legislation pushed by Clinton and enacted during his tenure that pushed for low income-high risk loans to be underwritten and forced on Fannie and Freddie, and it was cheap money out of Asia(mostly Japan) in the latter part of the 90's and throughout this decade, and compounded when Mr. Greenspan further aggrivated this by creating cheap money in the U.S. and that coupled with no transparency and oversight of the investment banks and hedge fund industry (thanks to Mr. Clinton and Sen. Dodd, both democrats) that created the environment for this debacle to occur. The situation that Mr. Bernanke and Sec. Paulson along with the lawmakers are currently working on, was necessitated by the negative territory that money market funds sunk into on Wednesday, it has nothing to do with the upcoming election. Just for the record it is the Democrats that are more than happy to create what will likely become a massive government program, the Republicans had to be dragged in kicking and screaming and in many Republican quaters this is highly unpopular. By all means feel free to make some smartass reply to this post and further show your ignorance about U.S. politics!

Stop writing Viccy...I dont read your unreadable 'non-sense posts anyway. Saves you time

LaoPo

Just as I expected, while you wallow in your bias ridden and ignorant posts about anything to do with the U.S. (especially politics), when you are presented with the facts of the situation you turn tail and run. A true sign of an anally (sorry if this hits too close to home ) retentive individual! Carry on with your slanted view of the situation, your selective excerpts from mostly obsure articles, and your ill informed posts. As often as you post here, it seems that thai visa is what you live for (very sad indeed), I guess the crash of the Chinese equity markets really took its toll on your life. I hope things get better for you, its sad to see anyone waste their life away.

[VegasVic]

Want to get really mad? Up until 2003, all investment banks were allowed only 12 to 1 leverage. Then in 2004, the SEC basically gave five banks (and only five banks) the ability to lever up 30 or even 40 to 1. Bet you can guess the five banks. Bear, Lehman, Merrill, Morgan and Goldman. Three down.

As Barry Ritholtz wrote: "So while the SEC runs around reinstating short selling rules, and clueless pension fund managers mindlessly point to the wrong issue, we learn that it was the SEC who was in large part responsible for the reckless leverage that led to the current crisis." (Don't get me started on blaming the short sellers. Let's not blame the people who leveraged up their companies 40 to 1 with bad investments.)

http://www.2000wave.com/article.asp?id=mwo091908

In reality it's two down (Bear and Lehman). Merrill could have remained solvent and operating on its own, but BofA (who had been stalking Merrill for years) made an offer at such a premium to market value that Merrill found it hard to refuse. You are spot on as far the leverage:reserve ratios go, as a matter of fact I have heard that in some cases it was as high as 60:1. The exponential expansion of the derivative market in the 90's in conjuction with the lack of transparency of the hedge fund industry and a record level of cheap money sloshing around the world led to most of these excesses. The short selling question is a little murkier, the hedge funds have used their immense size to either force companies to file BK that otherwise would have not had to or they have shorted firms to create a panic (a self fulfilling reality) and scooped up the bonds on the cheap and then covered their short at distressed levels. Its kind of like a poker game where everyone brings a hundered dollars with them to play and one guy brings ten thousand dollars with him, guess who is going home with all the money? While I will agree that halting all short selling in the financial securities was a bit of a knee jerk reaction, the other new regulations on naked short selling (yes I know we already have reg sho but it was rarely if ever enforced) and transparency are long overdue. We have yet to see just what Bernanke,Paulson and the Congress will come up with, but the one negative I can see so far is that Paulson has stated publically that anything that does come out of this will only effect U.S. instiuitons, so RBS, UBS and many other non-U.S. banks that hold a large portion of this leveraged toxic waste will be on there own, this will give the U.S. a blackeye going forward!

[LaoPo]

LaoPo

[AlexLah]

I made a prediction a while back that something big was about to happen after sept 10 in one of the other threads. And indeed it did. I will now tell you that the next event will happen around the first or second week of Oct. We are just at the very start of a total meltdown of the current financial system. It will.

please don't forget to take your prescription pills Alex and watch out for birds shÍttÍng on your car. without your prophecies we wouldn't know how to cope with all the desasters happening each and every day and birdshÍt might give wrong results ♪♪♪

p.s. at what temperature (ºC) will the meltdown happen?

Hi Naam you try to be funny but you are really not.

What I have predicted has come true.

Show me any of your predictions that have come true..

I tell you all again the next disaster will be around beginning Oct, that is all I can say.

And Naam perhaps you could use a spelling checker?

I thought you where a native speaker of the English/American language.

Anyway, good luck with your portfolio.

Cheers all!

Alex

[Naam]

I made a prediction a while back that something big was about to happen after sept 10 in one of the other threads. And indeed it did. I will now tell you that the next event will happen around the first or second week of Oct. We are just at the very start of a total meltdown of the current financial system. It will.

please don't forget to take your prescription pills Alex and watch out for birds shÍttÍng on your car. without your prophecies we wouldn't know how to cope with all the desasters happening each and every day and birdshÍt might give wrong results ♪♪♪

p.s. at what temperature (ºC) will the meltdown happen?

And Naam perhaps you could use a spelling checker? I thought you where a native speaker of the English/American language.

you thought wrong Alex. i grew up bilingual french and german; english is my third language. by the way there is a valid reason why i use accents once in a while. but that seems to be beyond your comprehension

[Naam]

will the "mother of all bail-outs" be approved?

LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY

TO PURCHASE MORTGAGE-RELATED ASSETS

Section 1. Short Title.

This Act may be cited as ____________________.

Sec. 2. Purchases of Mortgage-Related Assets.

(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.

( Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:

(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;

(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;

(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;

(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and

(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.

Sec. 3. Considerations.

In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--

(1) providing stability or preventing disruption to the financial markets or banking system; and

(2) protecting the taxpayer.

Sec. 4. Reports to Congress.

Within three months of the first exercise of the authority granted in section 2(a), and semiannually thereafter, the Secretary shall report to the Committees on the Budget, Financial Services, and Ways and Means of the House of Representatives and the Committees on the Budget, Finance, and Banking, Housing, and Urban Affairs of the Senate with respect to the authorities exercised under this Act and the considerations required by section 3.

Sec. 5. Rights; Management; Sale of Mortgage-Related Assets.

(a) Exercise of Rights.--The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act.

( Management of Mortgage-Related Assets.--The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.

© Sale of Mortgage-Related Assets.--The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act.

(d) Application of Sunset to Mortgage-Related Assets.--The authority of the Secretary to hold any mortgage-related asset purchased under this Act before the termination date in section 9, or to purchase or fund the purchase of a mortgage-related asset under a commitment entered into before the termination date in section 9, is not subject to the provisions of section 9.

Sec. 6. Maximum Amount of Authorized Purchases.

The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time

Sec. 7. Funding.

For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure.

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Sec. 9. Termination of Authority.

The authorities under this Act, with the exception of authorities granted in sections 2((5), 5 and 7, shall terminate two years from the date of enactment of this Act.

Sec. 10. Increase in Statutory Limit on the Public Debt.

Subsection ( of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.

Sec. 11. Credit Reform.

The costs of purchases of mortgage-related assets made under section 2(a) of this Act shall be determined as provided under the Federal Credit Reform Act of 1990, as applicable.

Sec. 12. Definitions.

For purposes of this section, the following definitions shall apply:

(1) Mortgage-Related Assets.--The term “mortgage-related assets” means residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before September 17, 2008.

(2) Secretary.--The term “Secretary” means the Secretary of the Treasury.

(3) United States.--The term “United States” means the States, territories, and possessions of the United States and the District of Columbia.

[Plutarch]

you are quite right my philosopher friend. it is extraordinary that i have paid a lot of money flying with my wife first class and business class and will do that in that in future too but we never owned or will own any of the aircrafts we use. i have and will pay extraordinary rates for hotel suites but i will never own any (the hotels are quite stingy and never offered me ownership of one) it is also extraordinary that a good friend of mine pays 8,300 (eight-thousand three-hundred) British Pounds per month rent for his 250m² flat (NOT house) in London but he does not own it. it is also extraordinary that there are people who pay 20 million dollars to orbit planet Earth in space but they won't own neither Earth nor the tiniest space in space.

shall i go on?

edited for addendum:

a wise man once said "if it flies, floats, rolls on wheels or fàcks DON'T BUY but RENT or LEASE it!" it seems he was opposed to ownership

Quite extraordinary posturing.

Clearly unresolved personal issues at work here.The malapropic emoticons are also quite interesting as indeed are the lapses in English which I find quite quaint if somewhat typical of the overblown Teutonic stereotype.

[bingobongo]

the plan proposed by Paulson will only lead to a short term bounce, and i agree with AlexLah, great pain is coming to global bourses........the proposed $1 trillion fund intended to fund this bailout compared to the $45 trillion debt market and the even larger derivatives time bomb.

it wont have any substantial impact except for being highly inflationary and making foreign governments decide to longer buy US debt thereby ramping up interest rates

and yes LOS will feel the pain as well

strap in

Edited September 21, 2008 by bingobongo

[Naam]

1. the plan proposed by Paulson will only lead to a short term bounce,

2. and i agree with AlexLah, great pain is coming to global bourses........

3. the proposed $1 trillion fund intended to fund this bailout compared to the $45 trillion debt market and the even larger derivatives time bomb.

4. it wont have any substantial impact

5. except for being highly inflationary

6. and making foreign governments decide to longer buy US debt thereby ramping up interest rates

7. and yes LOS will feel the pain as well

8 . strap in

1. i tend to agree

2. Alex painted a worse picture than just great pain to global bourses

3. i agree

4. i tend to agree

5. i fully agree

6. i don't agree

7. i tend to agree

8. i am strapped in

[PCA]

the plan proposed by Paulson will only lead to a short term bounce, and i agree with AlexLah, great pain is coming to global bourses........the proposed $1 trillion fund intended to fund this bailout compared to the $45 trillion debt market and the even larger derivatives time bomb.

it wont have any substantial impact except for being highly inflationary and making foreign governments decide to longer buy US debt thereby ramping up interest rates

and yes LOS will feel the pain as well

strap in

Not much did I pay attention to fundamentals except sentiment in the markets and its observers but considering the latest step of the US and UK pumping in worthless paper into companies which grew and failed by greed and fraud only I am getting a bit worried about financial prospects here. The new short selling rule is a temporary one only as it would suck out a lot of liquidity from the markets in the long run causing much more damage than support or improvement.

Would they not have come up with some action on the other hand we definitely would have seen a real crash. Many funds and institutionals were now forced to not only cover shorts but also to take new positions in order not to miss another manipulated upswing should it continue.

A possible war breaking out in the near future nevertheless will guide to an unavoidable disaster bringing along a long overdue correction to global equity markets with an exeggeration to the downside and complete revaluation.

[Naam]

Clearly unresolved personal issues at work here.

i agree and suggest you consult a shrink on your issues (assuming you are able to afford one).

[lannarebirth]

1. the plan proposed by Paulson will only lead to a short term bounce,

2. and i agree with AlexLah, great pain is coming to global bourses........

3. the proposed $1 trillion fund intended to fund this bailout compared to the $45 trillion debt market and the even larger derivatives time bomb.

4. it wont have any substantial impact

5. except for being highly inflationary

6. and making foreign governments decide to longer buy US debt thereby ramping up interest rates

7. and yes LOS will feel the pain as well

8 . strap in

1. i tend to agree

2. Alex painted a worse picture than just great pain to global bourses

3. i agree

4. i tend to agree

5. i fully agree

6. i don't agree

7. i tend to agree

8. i am strapped in

1. Let's see what Thursday brings

2. Alex is talking about the web bots

3. It's not that much money anymore, but the actions are extraordinary.

4. Probably not, but barring further negative events (like perhaps Thursday) it may put a temporary floor under the market. LT Equities charts in Constant Dollars have turned up.

5.Disagree. when money is destroyed, inflation does not occur.

6.IR might go up, but I think there will always be buyers. I wouldn't even be surprised if there was debt forgiveness at some point.

7. I imagine the middle class and the foreigners most of all.

[midas]

But surely what this also advertises to the terrorist groups is just how short money

the US Government is going to be in the future ? I dont understand how the Americans could even think of electing

John McCain knowing he will commit the forces to stay in the battlefield for

another " 100 years " with worn out equipment and worn out soldiers.

Where will the money come from for all these promises and obligations............?

[lannarebirth]

the plan proposed by Paulson will only lead to a short term bounce, and i agree with AlexLah, great pain is coming to global bourses........the proposed $1 trillion fund intended to fund this bailout compared to the $45 trillion debt market and the even larger derivatives time bomb.

it wont have any substantial impact except for being highly inflationary and making foreign governments decide to longer buy US debt thereby ramping up interest rates

and yes LOS will feel the pain as well

strap in

Not much did I pay attention to fundamentals except sentiment in the markets and its observers but considering the latest step of the US and UK pumping in worthless paper into companies which grew and failed by greed and fraud only I am getting a bit worried about financial prospects here. The new short selling rule is a temporary one only as it would suck out a lot of liquidity from the markets in the long run causing much more damage than support or improvement.

Would they not have come up with some action on the other hand we definitely would have seen a real crash. Many funds and institutionals were now forced to not only cover shorts but also to take new positions in order not to miss another manipulated upswing should it continue.

A possible war breaking out in the near future nevertheless will guide to an unavoidable disaster bringing along a long overdue correction to global equity markets with an exeggeration to the downside and complete revaluation.

The ban on short sales was designed to put some air under the market. in case some exogenous event were to have occured at the lows. if said event comes, we should now remain in historic ranges, rather than at new lows.

Edited September 21, 2008 by lannarebirth

[Naam]

5.Disagree. when money is destroyed, inflation does not occur.

you cannot destroy something that never really existed. but now real money is flowing and that means (in my book) inflation.

[lannarebirth]

5.Disagree. when money is destroyed, inflation does not occur.

you cannot destroy something that never really existed. but now real money is flowing and that means (in my book) inflation.

We'll have to agree to disagree then. In my eyes the central bankers are shit scared of deflation from loss of value of monetary instruments and the deflationary dominoes that woud knock over. That's why they're willing to spend a lot of money for something that has marginal value. It appears self evident, but disagreements are what make a market.

[PCA]

the plan proposed by Paulson will only lead to a short term bounce, and i agree with AlexLah, great pain is coming to global bourses........the proposed $1 trillion fund intended to fund this bailout compared to the $45 trillion debt market and the even larger derivatives time bomb.

it wont have any substantial impact except for being highly inflationary and making foreign governments decide to longer buy US debt thereby ramping up interest rates

and yes LOS will feel the pain as well

strap in

Not much did I pay attention to fundamentals except sentiment in the markets and its observers but considering the latest step of the US and UK pumping in worthless paper into companies which grew and failed by greed and fraud only I am getting a bit worried about financial prospects here. The new short selling rule is a temporary one only as it would suck out a lot of liquidity from the markets in the long run causing much more damage than support or improvement.

Would they not have come up with some action on the other hand we definitely would have seen a real crash. Many funds and institutionals were now forced to not only cover shorts but also to take new positions in order not to miss another manipulated upswing should it continue.

A possible war breaking out in the near future nevertheless will guide to an unavoidable disaster bringing along a long overdue correction to global equity markets with an exeggeration to the downside and complete revaluation.

The ban on short sales was designed to put some air under the market. in case some exogenous event were to have occured at the lows. if said event comes, we should now remain in historic ranges, rather than at new lows.

Well, I hope you dont believe that a ban of short selling can protect the market from plunging, it is rather the opposite and if then it wont look back after starting the move. In case we get a war we get a disaster you can bet on that.

[Naam]

But surely what this also advertises to the terrorist groups is just how short money

the US Government is going to be in the future ? I dont understand how the Americans could even think of electing

John McCain knowing he will commit the forces to stay in the battlefield for

another " 100 years " with worn out equipment and worn out soldiers.

Where will the money come from for all these promises and obligations............?

printing press