Country falling apart or becoming communist?
SDSU Basketball
Joined: Jul 2005
Posts: 9,483
Likes: 0
From: Diego
After the Fed's decision on Tuesday to leave interest rates unchanged, I do not believe we are headed for a complete meltdown on Wall St.
Had the Fed cut the prime rate again, I would've been much more worried. On paper it would improve liquidity, but with a heaping helping of inflation as well. We probably would've seen another spike in oil trading, only this time with disastrous consequences.
That said, the lenders and banks that have survived -- and in particular those that have taken on a lot of bad debt are going to be a source of new disruptions on Wall St. At some point soon, I bet that BofA is going to have to write down some of their newly acquired debt.
Regardless, it is high time that this country get a lesson in how to be responsible, educated consumers. ARMs and home equity loans — when coupled with poor fiscal responsibility — were a recipe for disaster.
Had the Fed cut the prime rate again, I would've been much more worried. On paper it would improve liquidity, but with a heaping helping of inflation as well. We probably would've seen another spike in oil trading, only this time with disastrous consequences.
That said, the lenders and banks that have survived -- and in particular those that have taken on a lot of bad debt are going to be a source of new disruptions on Wall St. At some point soon, I bet that BofA is going to have to write down some of their newly acquired debt.
Regardless, it is high time that this country get a lesson in how to be responsible, educated consumers. ARMs and home equity loans — when coupled with poor fiscal responsibility — were a recipe for disaster.
we are already in a depression. Nobody will admit it untill we are out of it.
signs of a depression, from what i remember from first year, include: rise in entertainment/alchohol profits, fuel/grain shortages/price hikes, war, political turmoil and everybody thinks they know whats going on.
signs of a depression, from what i remember from first year, include: rise in entertainment/alchohol profits, fuel/grain shortages/price hikes, war, political turmoil and everybody thinks they know whats going on.
Thats what im talking about:yay:
pukimonster
Joined: Jun 2002
Posts: 9,967
Likes: 2
From: Milwaukee, WI
we are already in a depression. Nobody will admit it untill we are out of it.
signs of a depression, from what i remember from first year, include: rise in entertainment/alchohol profits, fuel/grain shortages/price hikes, war, political turmoil and everybody thinks they know whats going on.
signs of a depression, from what i remember from first year, include: rise in entertainment/alchohol profits, fuel/grain shortages/price hikes, war, political turmoil and everybody thinks they know whats going on.
edit: in the US.
