I'm every bit as cynical as you, but they probably want to induce a crash before they begin to buy the good stuff back. And a true crash we have not had for a long while.
Guys, There's no conspiracy here: the big banks and brokerages are just run by a bunch of idiots with no common sense. And we're in the eye of their storm...
Where do you get the money market information? I've heard this number too. I've got one dark cloud for that issue above via shedlock: http://globaleconomicanalysis.blogspot.com/2008/07/were-saying-no-to-almost-everybody.html How much of problem is that (if it is)? Is there any other potential surprises regarding those $3.5 trillion?
Pending home sales fall 3.2 percent Tuesday September 9, 10:57 am ET By Alan Zibel, AP Business Writer Pending sales of existing homes in US fell 3.2 percent in July as housing struggles continue WASHINGTON (AP) -- Pending U.S. home sales fell more than expected in July as the housing market's struggles continued, an industry group said Tuesday. The National Association of Realtors said its seasonally adjusted index of pending sales for existing homes fell 3.2 percent to a reading of 86.5 from an upwardly revised June reading of 89.4. The index was 6.8 percent below year-ago levels. http://biz.yahoo.com/ap/080909/pending_home_sales.html
I will likely be laughed at for posting this but I will post anyway as I think in these times and potentially what is to come in the next few years if we good down the path of deflation that looks increasingly likely this simple but well done kids movie will have some relevance to those who have children (and it is an especially good movie for the parents of young girls, especially for parents like me who shudder at the ghetto style movies for kids like Bratz etc). The movie is an American Girl movie thatâs called Kim Kitteridge and it is set in the Great Depression and depicts the hard choices that people had to make because they were not prepared for what happened to the country economically. Laugh away, but hopefully some of the smarter folks with children will do themselves a favor and check it out!
bylo the fools didn't listen, they actually thought everything was fine and dandy, what fools. This is history in the making. I have been talking and posting articles on this subject for over 2 years and so many thought this was just going to an easy one to just brush off and ignore. This is what greed does to wallstreet, it destroys it. The lies and greed are plentiful on wallstreet. How many talking heads will run out and tell the media the bottom is in the bottom is in. Damn fools to believe anyone on wallstreet, just lies lies and more lies.....
My only question at this point is how bad is this going to get. I am confident it won't stop at Lehman. Now that the fed has sent a loud message that the bailing out might have begun and ended with Bear Stearns, what shall unfold over the next several months?