U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

Discussion in 'Wall St. News' started by arealpissedgoy, Nov 25, 2008.

  1. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5PxZ0NcDI4o

    Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.7 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.

    Only a matter if time before foreigners dump USD

    USD will go to zero.

    A new bull market in JPY. The only viable reserve currency at the moment.

    Which means hedge funds will have to unwind positions on their JPY carry trades.

    SP500 will bottom between 400 and 500.

    Depression ahead for the US.
  2. eagle


    Yep, 7.7T is lots of money but if we look this way. You have been making a good salary since many years and now in a very rare circumstances you lost half of your one year salary. Is it the end of the world for you? I guess not.