US Financial Crisis

[Kepler]

OLes pays vont juste apprendre à trouver d'autres partenaires commerciaux et ça sera bien mieux comme ça. De toute façon, d'autres puissances internationales s'en viennent.

(Translation: "Anyways, other superpowers are rising")



Ah oui, je rêve de vivre dans un monde où la Chine, la Russie et l'Iran seront des superpuissances.

Translation: Ah yes, I dream of living in a world where China, Russia and Iran will be superpowers.

 

[Gotsome]

The European Union is the fastest growing superpower on the planet based not on military but on economic strength. My guess is that the EU will gain the initiative to become the leading economic/political power bloc in the world if the U.S begins an economic downspin which looks likely. Canada too will follow the U.S. economic downspin but since we have as much money in public as in private sectors we, the general public, will not suffer nearly as bad as the general public in the U.S.

 

[General Gonad]

The European Union is the fastest growing superpower on the planet based not on military but on economic strength. My guess is that the EU will gain the initiative to become the leading economic/political power bloc in the world if the U.S begins an economic downspin which looks likely. Canada too will follow the U.S. economic downspin but since we have as much money in public as in private sectors we, the general public, will not suffer nearly as bad as the general public in the U.S.

Your thesis is not supported by the currency markets where the US dollar gained on the euro today.

GG

 

[korbel]

Hello all,

Sometimes I wonder about people. I'm sure no economist. But I have been listening to those who are. It seems they all say this "bail out" is needed to free up credit so banks can extend that credit to businesses who can then carry on and conduct business thereby allowing the average working person to keep their jobs. Well, that how they seem to explain it. And even those who don't like this particular plan agree some sort of bail out must be completed. But, the average person has accepted one slant that any bail out will benefit those who created the crisis instead of what seems to be the real out come of keeping business and their jobs solvent.

Now maybe all of these economists are mistaken. Maybe I have misunderstood. But it sure seems like these professionals are too universal in seeing the need for "a bail out" to be wrong. And "the people" can't seem to get over the idea that it's only for Wall Street and the greedy corporations who caused the mess. I wonder if "the people" are so full of anger that they will cut their own financial throats. What a stinking dangerous mess. Sometimes I wonder if the world will crash because just because human beings get to emotionally blind to listen and see reason and sense.

WHEEEEEEEEW!

Korbel

 

[eastender]

Bail Out

Hello all,

Sometimes I wonder about people. I'm sure no economist. But I have been listening to those who are. It seems they all say this "bail out" is needed to free up credit so banks can extend that credit to businesses who can then carry on and conduct business thereby allowing the average working person to keep their jobs. Well, that how they seem to explain it. And even those who don't like this particular plan agree some sort of bail out must be completed. But, the average person has accepted one slant that any bail out will benefit those who created the crisis instead of what seems to be the real out come of keeping business and their jobs solvent.

Now maybe all of these economists are mistaken. Maybe I have misunderstood. But it sure seems like these professionals are too universal in seeing the need for "a bail out" to be wrong. And "the people" can't seem to get over the idea that it's only for Wall Street and the greedy corporations who caused the mess. I wonder if "the people" are so full of anger that they will cut their own financial throats. What a stinking dangerous mess. Sometimes I wonder if the world will crash because just because human beings get to emotionally blind to listen and see reason and sense.

WHEEEEEEEEW!

Korbel

Korbie,

The issue is not whether the "bail out" is right or wrong but who is put in charge of the "bail out" dollars. Giving the "bail out" dollars to the same people who created the mess is plain foolish. Like allowing a surgeon who butchered an operation a second chance.

There has to be at least a reasonable chance of success and the track record of the people responsible is very weak in this regard.

 

[korbel]

Korbie,

The issue is not whether the "bail out" is right or wrong but who is put in charge of the "bail out" dollars. Giving the "bail out" dollars to the same people who created the mess is plain foolish. Like allowing a surgeon who butchered an operation a second chance.

There has to be at least a reasonable chance of success and the track record of the people responsible is very weak in this regard.

Hello Eastender,

That is not the issue in reality as I understand it. That has been resolved and no one is going to be stupid enough to allow the culprits to benefit directly. The issue is the perception of "the people" is the money will be given "to the same people who created this mess". That is not what is being set forth, but that is how the people see it. And what worries me is that the people will persist in their error and put so much pressure on their representatives that no bill will be passed that could ever be effective...if one can be passed at all.

Stupid,

Korbel

 

[General Gonad]

The issue is the perception of "the people" is the money will be given "to the same people who created this mess". That is not what is being set forth, but that is how the people see it. And what worries me is that the people will persist in their error and put so much pressure on their representatives that no bill will be passed that could ever be effective...if one can be passed at all.

They are dumb to call it a bailout. It is an economic stabilization program but stupid politicians pandered to their irate constituents.

GG

 

[banger]

World Financial Crisis!

The systematic problems are in world credit markets, not just the US.
To classify and analyse the problem as just a US Financial crisis is wrong.

Whats happening is that the "world capitalist game" of leverage is de-leveraging. The rules of the game have changed...the government and regulators have come in to save/fix the system....no one trusts each others accounting....so the game must end and everyones got to show what they really got...or not.

There are many culprits that caused this mess...at the root...we can blame the investor or buyer of a house he/she cannot afford, the lender who gave 0% loan, the appriaser that values the property at fantasy values, the investment bank who took these mortages securitized them and sold them to niave investors and portfolio managers who believed the AAA credit ratings that Moodys and S&P put on these CDO's....oh and guess who paid the ratings agencys to get rated.....the issuer of the CDO!!!

Then AIG and other insurers started trading in Credit default swaps...expanding their business into a new business they obviously didnt know much about as they sold penny options that have blown up if their faces...

The regulators also fucked up....de-regulation and creating of huge Over the counter(OTC) markets like in credit default swaps that were left to expand without proper regulation.

Then the CEO's and risk managers....for not doing their jobs right!
Some will probably face criminal charges.

You can even blame Alan Greenspan for leaving rates too low for too long after 9/11 creating a global asset bubble that has imploded.

The root of the problem may have started with the Sub-prime crisis that started in the US but the ramifications have infected the world credit markets...

To fix the problem will take a co-ordinated action by world governments and central banks....The world money pump is flowing....the only problem is that there is a clog in the system and the institutions that need money cant get access to it. There will be a co-ordinated easing of global rates and co-ordinated intervention to prop up the dollar very soon.

The sad thing to all this is that many people in the world who are living at the most marginal level will eventually be most affected by the credit crisis ...This is a once in a lifetime event...we will all be touched in one way or another.

Banger

 

[General Gonad]

...This is a once in a lifetime event...we will all be touched in one way or another.

Good synopsis but you forgot to explain something: why are SP rates going up when credit is seizing?

It looks like hot dog stands and cheap incalls will be booming.

GG

P.S. If things get really bad, I will post an ad on Craig's List: "GG, Male Gigolo, Full BFE for Hot Ladies Only".

 

[banger]

Good synopsis but you forgot to explain something: why are SP rates going up when credit is seizing?

It looks like hot dog stands and cheap incalls will be booming.

GG

Sp rates are going up when credit is seizing cause this is a CASH business.
Also Agency owners and Sp's dont watch CNBC...

Banger

 

[General Gonad]

Also Agency owners and Sp's dont watch CNBC...

Ah, CNBC, the Chimp News Broadcasting Corporation.

The only thing worth watching there is Erin Burnett.

GG

 

[Lilly Lombard]

Sp rates are going up when credit is seizing cause this is a CASH business.
Also Agency owners and Sp's dont watch CNBC...

Banger

Just the kind of comment I love. It's so true, none of us has cable or satelite nor do we try to stay inform and in touch with the real world.

 

[banger]

Just the kind of comment I love. It's so true, none of us has cable or satelite nor do we try to stay inform and in touch with the real world.

I'll amend it to the "agency owners and SP's I know" dont watch CNBC...
I never meant to presume that just because your an agency owner or SP that your not in touch with the real world. I think you're reading a bit too much into my reply to a off topic statement by GG highjacking the thread.

Banger

 

[johnmbot]

This is a once in a lifetime event...

...which is creating the 2nd best stock buying era i have seen in my life. i'm loving it!

 

[General Gonad]

transmission will impact all businesses

I think you're reading a bit too much into my reply to a off topic statement by GG highjacking the thread.

banger,

It's not off topic at all. Your imbecilic statement that this is a "CASH" business so the credit crunch will not affect it shows that you do not know much about transmission mechanisms.

When banks stop lending to individuals and businesses, all businesses get impacted, including cash businesses like restaurants, bars, and the escort business.

Talk to any restaurant owner in Montreal and ask them how their business is going in the last few months, especially in September. It's lousy.

When unemployment jumps and people start losing jobs here in Canada, it will get worse.

So if you ask me, the US financial crisis is spreading all over the world, including here in Canada and it will impact all businesses, especially "cash" businesses like escorting.

Do I hear $160/hour, $140/hour, $120/hour.....


GG

 

[beautydigger]

Herald readers put blame on Barney Frank

LOL BTYDGR,
You are really showing your ignorance here. I just watched a video yesterday where Bush spoke in 2004 or 2005 about how proud he was that so many more Americans were now able to buy a home. Here is a video of Bush from May 17, 2002 speaking about lowering the barriers to making it possible for low income families to make a down payment. Listen to it fully and maybe you will find some real facts to use instead of your common nonsensical bluster.
Korbel

When it comes to the Wall Street meltdown, Rep. Barney Frank is considered the engineer of the financial train wreck, a bostonherald.com instant poll shows.

Frank should be tossed out of the Senate for putting his party over the welfare of the country......
http://news.bostonherald.com/news/2008/view.bg?articleid=1122387&srvc=2008campaign&position=2

 

[Lilly Lombard]

banger,

It's not off topic at all. Your imbecilic statement that this is a "CASH" business so the credit crunch will not affect it shows that you do not know much about transmission mechanisms.

When banks stop lending to individuals and businesses, all businesses get impacted, including cash businesses like restaurants, bars, and the escort business.

Talk to any restaurant owner in Montreal and ask them how their business is going in the last few months, especially in September. It's lousy.

When unemployment jumps and people start losing jobs here in Canada, it will get worse.

So if you ask me, the US financial crisis is spreading all over the world, including here in Canada and it will impact all businesses, especially "cash" businesses like escorting.

Do I hear $160/hour, $140/hour, $120/hour.....


GG

Huh...Most business out there has to pay some costs to survive. La Belle Province with hot dogs at 50 cents has a rent of a few 1000$ to pay per month. Right?

Prostitution costs as much or as little as you are ready to invest in it. Will it have an impact? Surely! The tourist industry will go down, there will be less requests and that is only normal. But from what I hear, prostitution is the oldest work in the world and it survived everything so far no matter what. It survived the 1929 crash, all the wars, all the epidemics.

You should listen to Chris Rock where he says that a man who wants sex will do any extra stretch for it. There are some men who will do the stretch in the budget too.

 

[General Gonad]

Prostitution costs as much or as little as you are ready to invest in it. Will it have an impact? Surely! The tourist industry will go down, there will be less requests and that is only normal. But from what I hear, prostitution is the oldest work in the world and it survived everything so far no matter what. It survived the 1929 crash, all the wars, all the epidemics.

Lilly,

I agree with you that prostitution is the oldest line of work, and come boom or bust, escorts will have work.

But you are forgetting something. The economy is dynamic, not static. In a downturn, the supply of escorts goes up and the demand for escorts goes down. Less tourism, less money, more escorts, means a lot more competition, so rates will fall if things get bad.

The last rate increase was when oil prices skyrocketed and drivers had to pay more for gas. Yesterday oil prices had a record plunge as traders bet that a global economic recession is on its way.

Times are tough for everyone out there, including agencies and indies. How do I know? A few escorts that were next to impossible to book told me business has slowed down a lot.

I spoke to one indy yesterday that refuses to bring down her rates to reflect market rates. I told her that it may work initially but she will eventually hurt her business if she is not realistic in her pricing. It's her body, her call, but I gave her my opinion.

You should listen to Chris Rock where he says that a man who wants sex will do any extra stretch for it. There are some men who will do the stretch in the budget too.

Hot dogs stands and titty bars will boom in a recession.

GG

P.S. If it's a Depression, I would buy shares in beer and Vaseline companies.

 

[General Gonad]

When it comes to the Wall Street meltdown, Rep. Barney Frank is considered the engineer of the financial train wreck, a bostonherald.com instant poll shows.

Oh please, 2/3 of Democrats voted FOR the rescue package. It failed because of Republicans who hold right-wing "free market" religious views.

GG

 

[beautydigger]

Oh please, 2/3 of Democrats voted FOR the rescue package. It failed because of Republicans who hold right-wing "free market" religious views.

GG

I was commenting on the cause of the crisis, not the passage of the bill. But you are confused about that too. The dems could of passed the bill even if every Republican voted against it. 40% of the dems voted against the bill. They only needed 12 dem votes to pass the bill. The dems that voted against the bill are up for reelection and they knew the people were not for this bill.