Comments on: Another Black Monday – Dow down 800

By: Ann

Ann — Tue, 07 Oct 2008 20:51:08 +0000

That number is probably going to keep growing as California slides into the Pacific.
Drowssap,
Yikes – I hope not! = – 0

By: Drowssap

Drowssap — Tue, 07 Oct 2008 20:42:38 +0000

Mortgage losses now calculated to hit 1.4 Trillion It should be noted that in April mortgage losses were estimate at 945 Billion. That number is probably going to keep growing as California slides into the Pacific. And of course this doesn't count car loans, credit cards, business bankruptcies, etc. etc. Losses are going to be in the trillions just in the USA. That $700 Billion is a small fraction of what the "bailoutters" need. It's also more than we can get our hands on without turning on the printing presses and creating massive inflation. If we do that old people will get hosed. At 10 to 1 leverage we could build a whole new banking system for $1 Trillion dollars ($10 Trillion dollars in loans).

By: Drowssap

Drowssap — Tue, 07 Oct 2008 20:20:36 +0000

Lynn David
From your link and it’s SPOT ON.

“If the system is so fragile that the collapse of the fifth-largest investment bank in America could bring the whole thing down, what’s going to happen in a few years when the No. 2 or No. 1 banks go bad…What’s Bernanke going to do, get in his helicopter and fly around the country repossessing cars and houses? This is insane.”
Jim Rogers, June 25, 2008, Moneynews.com

If the system is this fragile it’s a joke. It clearly isn’t serving the interests of the average American.

By: Drowssap

Drowssap — Tue, 07 Oct 2008 14:36:48 +0000

I suppose it's a little late for this but... 7 Reasons Why the Bailout Will Damage The Economy: Daniel Mitchell Lets just say that the best and brightest aren't exactly in charge right now.

By: Lynn David

Lynn David — Tue, 07 Oct 2008 07:28:47 +0000

I’ve always been a fan of gold. There was a time when you could tie increases in the inflation rate to it quite well. Then the Fed stepped in and things changed. Some think the Fed is manipulating gold, but cannot do so for too very much longer. It’s all a plan to create an NAU like the EAU with one currency called the Amero for Canada, Mexico and the USA. Lotsa low level buzz about it. Ron Paul even. Then there is a guy who is called DeepCaster. Sounds a little too conspiratorial to me, but then I’m even a fan of “24.”
See: http://news.goldseek.com/GoldSeek/1221843300.php