World Leaders Blame U.s. For Credit Crisis

[naklang]

The rest of the world will decide it no longer wants to buy our govt's ludicrously over-rated debt paper at negative real interest rates. US govt debt if a real company would be rated "Junk" at best. After all, would you loan any more money to these con artists? A global revolt is underway that will resemble this video (car being US govt. debt paper). Foreign investors are furious about being scammed with junk mortgage backed CDO's and their ilk. Game over US bankers and treasury. Time to start driving that beat up junker. You've earned it.

[pkrv]

For me now investment is in a roof over my head and to live in style - that is it. My advice is to do the same you just live once (though I do wish to pass on something of value to the next generation in my family without it being stolen under inheritance tax rules that the elite in the UK are not subject to).

i fully agree with you Pkrv. however one needs money to keep the chimney smoking (literal translation of old german saying) and money is necessary in Thailand too. not to keep the chimney smoking but to run the airconditioning. the roof over the head costs but does not generate money.

and before another smartàss -besides me - comes up with the obligatory smartàss statement, i present it for the newbies:

"never invest in Thailand more than you can afford to walk away!"

HA!

Please allow me to introduce you to the best money making scheme ever - become the US president appoint directors to a couple of big mortgage companies milk it for all it is worth and exit.

You know there was a very old computer game on the Spectrum home computer called Dictator. It was such fun! The only way to win was to sell a military base to the Russians then to the Americans, sack the secret police and quite literally take the money and run. It was impossible to win the game! The shorter time you played the game the more you made!

[meom]

True; but the GWB administration opened the door.....letting them in....the sharks, lenders, banks, insurers, real estate developers...the Fannie Mae's, Freddie Mac's, Lehman's, AIG's.....................I can go on.

And, the one who opens the door is responsible if the storm and <deleted> hits the fan...

LaoPo

Some people blame Penny Pritzker, who together with Merrill Lynch first developed the model for securitizing "sub-prime" real estate which triggered the current crisis.

Pritzker among other things is Obama's National Campaign Finance Chairman.

[astral]

The whole credit situation in the US has been based on a delusion for far too long.

Companies have been selling Junk Bonds of years.

Everyone knows they are worthless, but people have still been buying.

Then when the crunch comes they wonder why they have lost their money.

Now the government wants to buy up all the Toxic Debt (their words, not mine)

at the tax payers expense. I am very glad that I am not a US citizen and tax payer.

[Wrong Turn]

The whole credit situation in the US has been based on a delusion for far too long.

Companies have been selling Junk Bonds of years.

Everyone knows they are worthless, but people have still been buying.

Then when the crunch comes they wonder why they have lost their money.

Now the government wants to buy up all the Toxic Debt (their words, not mine)

at the tax payers expense. I am very glad that I am not a US citizen and tax payer.

Yes, there is now a backlash by the taxpayers.

Also at risk as we know, that this bailout may only partially work. If it doesn't remedy the situation there are many pensions investments and 401K investments, and basic investments in the markets that will really hurt people in their 50s, for example. Or, any age group, that won't have time to recover if there is a massive decline.

P.S. Jack Welch (whatever you think of him) has predicted a severe recession in early 2009 because the credit lines will be dried up no matter what, in his opinion.

[pkrv]

has predicted a severe recession in early 2009 because the credit lines will be dried up no matter what, in his opinion.

You didn't actually mean that did you.

[Losangels]

Well something has to be done immediately to fix the leak in the sinking American financial system.

If the treasury needs to bail out the investment bank by increasing taxes for all American, so be it.

I do not agree that all American should pay to get out of this mess but those investment bankers, mortgage lenders and financial regulators should. They should be accountable and very least punnished. Let American tax payers become equity holders of the 700 billions(so far if you believe the treasury's figure) of subprime debts that banks want to rid off. So that when the housing market eventually recovers, they can recoup and hopefully profit.

We may see a run on the banks with depositors unable to to retreive funds in the worst case scenario because the FDIC can't cover all the insured deposits.

[siamamerican]

The rest of the world will decide it no longer wants to buy our govt's ludicrously over-rated debt paper at negative real interest rates. US govt debt if a real company would be rated "Junk" at best. After all, would you loan any more money to these con artists? A global revolt is underway that will resemble this video (car being US govt. debt paper). Foreign investors are furious about being scammed with junk mortgage backed CDO's and their ilk. Game over US bankers and treasury. Time to start driving that beat up junker. You've earned it.

The public/national debt is roughly equal to the average debt over the last 50 years as a percent of GDP. The reality is that our debt is lower than many countries ( France, Canada, Japan, Italy...). The doom and gloom crowd uses nominal figures, ignoring inflation and GDP growth.

If you aren't going to invest in the US, where would you invest? The housing bubble burst and it's ironic how soon we all forget the benefits of the boom years.

The government will pass rescue legislation as they have done many times in the past. The next few years will be difficult, but most Americans are up to the challenge after the anger recedes. It is what it is – the wimps will weep and the greedy winners will find the means to prosper.

[naklang]

The rest of the world will decide it no longer wants to buy our govt's ludicrously over-rated debt paper at negative real interest rates. US govt debt if a real company would be rated "Junk" at best. After all, would you loan any more money to these con artists? A global revolt is underway that will resemble this video (car being US govt. debt paper). Foreign investors are furious about being scammed with junk mortgage backed CDO's and their ilk. Game over US bankers and treasury. Time to start driving that beat up junker. You've earned it.

The public/national debt is roughly equal to the average debt over the last 50 years as a percent of GDP. The reality is that our debt is lower than many countries ( France, Canada, Japan, Italy...). The doom and gloom crowd uses nominal figures, ignoring inflation and GDP growth.

If you aren't going to invest in the US, where would you invest? The housing bubble burst and it's ironic how soon we all forget the benefits of the boom years.

The government will pass rescue legislation as they have done many times in the past. The next few years will be difficult, but most Americans are up to the challenge after the anger recedes. It is what it is – the wimps will weep and the greedy winners will find the means to prosper.

Don't get me wrong, I hope they can patch up this house of cards again, but excuse me if I have doubts this time. The "we'll grow our way out of it" crowd are forgetting that this is not the 80's and 90's anymore. We are entering a deflationary period demographically, so this growth just isnt going to be there.

And these "boom years" you speak of were fabricated and artificial based on creation of massive money supply from Greenspan and his cronies. Guess what? If you inject ever increasing monetary heroin for a decade or more just to feel normal, when that supply runs out (foreign capital flows), its going to be one hel_l of a long, painful withdrawal. What these clowns/drug pushers (Paulson/Bernanke) are asking for is to borrow money to buy more dope to supply their drug slaves.

The worst thing to is to give them more heroin, but the trick will be to find out what the methadone equivalent will be to wean us off the junk.

[siamamerican]

The rest of the world will decide it no longer wants to buy our govt's ludicrously over-rated debt paper at negative real interest rates. US govt debt if a real company would be rated "Junk" at best. After all, would you loan any more money to these con artists? A global revolt is underway that will resemble this video (car being US govt. debt paper). Foreign investors are furious about being scammed with junk mortgage backed CDO's and their ilk. Game over US bankers and treasury. Time to start driving that beat up junker. You've earned it.

The public/national debt is roughly equal to the average debt over the last 50 years as a percent of GDP. The reality is that our debt is lower than many countries ( France, Canada, Japan, Italy...). The doom and gloom crowd uses nominal figures, ignoring inflation and GDP growth.

If you aren't going to invest in the US, where would you invest? The housing bubble burst and it's ironic how soon we all forget the benefits of the boom years.

The government will pass rescue legislation as they have done many times in the past. The next few years will be difficult, but most Americans are up to the challenge after the anger recedes. It is what it is – the wimps will weep and the greedy winners will find the means to prosper.

Don't get me wrong, I hope they can patch up this house of cards again, but excuse me if I have doubts this time. The "we'll grow our way out of it" crowd are forgetting that this is not the 80's and 90's anymore. We are entering a deflationary period demographically, so this growth just isnt going to be there.

And these "boom years" you speak of were fabricated and artificial based on creation of massive money supply from Greenspan and his cronies. Guess what? If you inject ever increasing monetary heroin for a decade or more just to feel normal, when that supply runs out (foreign capital flows), its going to be one hel_l of a long, painful withdrawal. What these clowns/drug pushers (Paulson/Bernanke) are asking for is to borrow money to buy more dope to supply their drug slaves.

The worst thing to is to give them more heroin, but the trick will be to find out what the methadone equivalent will be to wean us off the junk.

I agree, the boom years seemed unreal or at least not earned. My point is that we are in a position to crawl up in little ball and cry about our misfortune or try to fix the problem. We've done it in the past after the stock market crash. Then we created FDIC insurance to stop depositors from panicking. We did last decade after the savings and loan crisis. The resolution trust was created to efficiently dispose of toxic debt.

It's odd how many of the people complaining are the ones that benefited the most from the excesses of the recent past. Home owners that used their homes as a checking account are adamant how they have been wronged. Investors that purchased multiple investment properties and think gains are guaranteed. The list goes on and it seems most would rather blame someone other than themselves in lieu of working towards a solution.

[Carib]

[dave_boo]

I agree, the boom years seemed unreal or at least not earned. My point is that we are in a position to crawl up in little ball and cry about our misfortune or try to fix the problem. We've done it in the past after the stock market crash. Then we created FDIC insurance to stop depositors from panicking. We did last decade after the savings and loan crisis. The resolution trust was created to efficiently dispose of toxic debt.

It's odd how many of the people complaining are the ones that benefited the most from the excesses of the recent past. Home owners that used their homes as a checking account are adamant how they have been wronged. Investors that purchased multiple investment properties and think gains are guaranteed. The list goes on and it seems most would rather blame someone other than themselves in lieu of working towards a solution.

[VegasVic]

When he speaks he has his own motivations.

Yes...but also: when he speaks, he's WARNING too !

I posted this on August 21 but nobody reacted; it's about a movie/documentary called I.O.U.S.A.

"Subject: "I.O.U.S.A.:" Can you handle the truth? "

With Warren Buffett, Pete Peterson & Dave Walker - an exclusive one-night event on Aug. 21.

http://www.thaivisa.com/forum/Where-s-Us-H...06#entry2158406

ABOUT THE MOVIE

Wake up, America! We're on the brink of a financial meltdown.....

http://www.iousathemovie.com/takeaction/

http://www.iousathemovie.com/press/meeting/

LaoPo

Can you also give us links to Michael Moores latest movie I must say that I really find it difficult to believe that Mr. objectivity (lao po) started a thread titled "World leaders blame U.S. for the credit crisis"

[VegasVic]

Hey carib where do you get this stuff, this is even better than your mao tse dung $20 bill

[flying]

Hey carib where do you get this stuff, this is even better than your mao tse dung $20 bill

That all comes from David Dees

Look here

David Dees Satire

Edited September 27, 2008 by flying

[LaoPo]

Can you also give us links to Michael Moores latest movie I must say that I really find it difficult to believe that Mr. objectivity (lao po) started a thread titled "World leaders blame U.S. for the credit crisis"

No need Vic, I'm sure you've seen the movie and didn't agree with Michael's vision

And, the title of this topic was written in the USA by a journalist, paid by Republican's* website owner, Mr. Michael Bloomberg, Mayor of New York, not by me

Anything else with your coffee ? ...a cookie perhaps ?

* Republican after being a lifelong Democrat; he changed parties just to run for Mayor of NY...but..he's a nice guy, isn't he ?

LaoPo

[Ground Engineer]

Watch Zeitgeist Addendum by Peter Joseph on the following link, its fantastic.......puts everything into perspective.

http://vidzking.com/Tags/Zeitgeist-Addendu...t-today-Oct-3rd

[flying]

Watch Zeitgeist Addendum by Peter Joseph on the following link, its fantastic.......puts everything into perspective.

http://vidzking.com/Tags/Zeitgeist-Addendu...t-today-Oct-3rd

I am about 40 minutes into it now.

If true it is a scary movie. Especially since I remember some of the events

( Back when Shah Of Iran was put in place )

So it kind of explains things & like I said........pretty scary.

I am watching it on Google Video which is very fast

http://video.google.com/videoplay?docid=70...21912&hl=en

Edited October 6, 2008 by flying

[Ground Engineer]

Watch Zeitgeist Addendum by Peter Joseph on the following link, its fantastic.......puts everything into perspective.

http://vidzking.com/Tags/Zeitgeist-Addendu...t-today-Oct-3rd

I am about 40 minutes into it now.

If true it is a scary movie. Especially since I remember some of the events

( Back when Shah Of Iran was put in place )

So it kind of explains things & like I said........pretty scary.

I am watching it on Google Video which is very fast

http://video.google.com/videoplay?docid=70...21912&hl=en

Watch the first movie that came out last year on the following link. Zeitgeist spread the word!!

http://uk.youtube.com/watch?v=0kHhc67GopM

[flying]

Watch Zeitgeist Addendum by Peter Joseph on the following link, its fantastic.......puts everything into perspective.

http://vidzking.com/Tags/Zeitgeist-Addendu...t-today-Oct-3rd

I am about 40 minutes into it now.

If true it is a scary movie. Especially since I remember some of the events

( Back when Shah Of Iran was put in place )

So it kind of explains things & like I said........pretty scary.

I am watching it on Google Video which is very fast

http://video.google.com/videoplay?docid=70...21912&hl=en

Watch the first movie that came out last year on the following link. Zeitgeist spread the word!!

http://uk.youtube.com/watch?v=0kHhc67GopM

Thanks I will take a look later.

The hard part is sitting at the computer that long

Wish I could pop it in the dvd player on the TV

Thanks