Do you even know what the scope of the "sub-prime" mess is? By your comment on it, I suspect the only thing you know you have gotten from a newspaper or the TV. Subprime mortgages in the US are < 3% of the total yearly mortgages. If that entire 3% defaulted, you would still only have a default rate of <7% of the total volume of mortgages in the US. That is nothing, and would still take every single sub-prime mortgage to default!!!!! Please, for the love of whatever you find holy, stop with the "sub-prime" song. It's non-news.
. October 22, 2007 SouthAmerica: Reply to Krazykarl What is going to trigger the new global economic depression will be the meltdown of the derivatives market. .
Unlikely. If anything, the strengthening USD may cause the "global economic meltdown". This has all been carefully planned.
. January 22, 2008 SouthAmerica: Talking about Panic and financial markets meltdown â the current market meltdown it was supposed to happen in October â you guys are 3 months behind schedule. Wall Street is supposed to have its market crashes in October. You guys on Wall Street canât keep even your schedule on target anymore. The Panic button has been pushed around the world in the financial markets. It is time for major damage control. Ben Bernanke probably it will inject more liquidity into the US financial markets â maybe another US$ 500 billion dollars or even moreâ¦.Who knows⦠He can also cut the fed funds rate at least another half point. Welcome to La La Land and more government intervention â and the usual Blah, Blah, Blah about the virtues of a superior free markets system. .
. January 22, 2008 SouthAmerica: Reply to Makloda It is not my fault that today Wall Street canât keep up even one of its major traditions - October market crashes. .
. SouthAmerica: Reply to Eusdaiki As I mentioned before: "The Wall Street Crash of 1929, also known as the Crash of 1929, was one of the most devastating stock market crashes in American history. It consists of Black Thursday (October 24, 1929), the initial crash and Black Tuesday (October 29, 1929), the crash that caused general panic five days later. The crash marked the beginning of widespread and long-lasting consequences for the United States." As you can see they already had Black Tuesday in October 29, 1929. The fed cut the fed funds rate by 3/4 of a point, and they are saying that the fed might cut the fed funds rate another half point one week from now. Talking about a TOTAL market PANIC!!!!!! I was watching Treasury Secretary Paulson give his emergency market spin - he looked bad as he was giving his speech - he looked like someone who was ready to explode - He looked like he was in Panic mode himself. Anyway, it will be an interesting day, and be prepared for all kinds of damage control. The shit is about ready to hit the fan in New York.... .
Before 1987 Black monday refeered to october 28 1929, so it wouldn't be the first time we get 2 different events with the same name...