just posting what was printed;not that i agree with it. although,FDX lowered significantly this morning due to extremely high fuel costs and a weakening economy.
I've been doing this longer than most of you, and I just polled guys doing it longer than me, and we agree: Never before have we seen a financial institution issue such a dire warning. It says, they are fearing their own survival. That they believe things are so out of control, they may not survive. You don't think for a moment they are worried about anyone else, do you?
I don't care who they are. They were looking the other way when they were peddling their subprime crap. Now they suddenly are informed and wise? These IBs' gambles are no better than yours or mine.
.......didn't say that. Said they were scared! This time,it's their asses. And there is criminal intent involved in this. Watch.
What's not mentioned is what the CEO of RBS said last week: RBS Sounds Alarm On Markets Ironically, this is a world away from the far more optimistic outlook that RBS made about credit and equity markets last week during its interim trading update. RBS Chief Executive Fred Goodwin had then spoken of a "correction" that he did not think would "be the end of the world" or "inordinately painful." ------ It sounds like the analyst is swinging for the fences trying to make a name for himself.
just soundbites from today......... 15% of homes appraise for less than the mortgage 30% coming. five years to get domestic oil in production, i.e. if King Harry allows such..... NYTimes, auto dealer selling 10 buicks a month....... Banks have no money, still have massive credit issues....... I dont think he's swinging for the fences. Remember, Wall St. made a ton of money w/subprime and naked shorting/prime broker shenanighans. How do they replicate that going forward, esp w/no leverage?
i love these analysts predictions if Mr RBS was so sure of his analysis, why doesnt he just buy a fortune of 3 month puts on the SPX nevermind bankrupt, RBS will be swimming in cash 3 months from now.
crap, you think sub prime woes are going to get worse? Everyone's going to default on their mortgage? I think everything is priced in already. What's a worst case scenario happening? Oil 200 a barrel, food prices rising, more people defaulting on mortgages, banks losing more money, and companies are more afraid to lend money?
If you look at a daily chart of the major indicies, it looks like we are going down for now. If you don't agree from a technical perspective, tell me why.