Greenspan's Chickens Seeking Home To Roost

[Etaoin]

I just received this piece of info from a retired friend who was
president of one of the larger national credit unions.

For an amazing, and devastating, look at the effects of the economic
meltdown -_Just Beginning_, triggered (not caused) by the 'Sub-Prime
Mortgage' mess, take some time to see this three minute +/- film clip
of a CNBC "anaylist" reaction to the formal "Stop Trade" action instituted
when one of _the_ largest finance houses (Bear-Stearns) essentially
gutted and bankrupted their two _very_large "Hedge Funds", and caused
a massive 'Sell-Off' of Bear Stearns stock. (url below)

An increasing tragic consequence of the rank speculation in mortgage
"paper" being catered to by the "Hedges", is the truly _Huge_
involvement of pension and retirement funds, of all stripes, throughout
the nation, and the loss of retirement income that will result.
A major help in the recovery of the losses suffered by all the innocent
victims, is the resignation of a top Bear Stearns officer. Riiight!
D.

About a 3 minute recording on youtube. It is well worth watching! JEP


http://www.youtube.com/watch?v=SWksEJQEYVU (http://www.youtube.com/watch?v=SWksEJQEYVU)


Isn't it about time for "Helicoptor" Ben Bernanke to don his flight suit???

[Naturalized-Texan]

Nonsense!

[Etaoin]

Nonsense!

What, no "atta boys" for the way that the market rebounds on Monday after plunging on Thursday and Friday? Nahhh, Tex...don't give me wild fantasies about the "plunge protection team." It is obvious that intelligent, government educated citizens recognize that the market is suddenly grossly undervalued. Don't tell me how remarkably prescient the government bankers (Bernanke's peers) of so many different nations suddenly sell tons of gold on the same day. Nahhh! Our government wouldn't participate in such a scheme, would they? You have convinced me of the error of my ways. You can understand that I was fooled because I learned logic and math before the government taught me how to discern and accept their reality.

[Naturalized-Texan]

:rotflmbo::rotflmbo::rotflmbo::rotflmbo:

I strongly recommend that you read Basic Economics: A Citizens Guide to the Economy by Thomas Sowell. He knocks the fallacies that you spout into a cocked hat. He even shows how the government inflation figures are actually overstated, not understated as you claim.

[Etaoin]

:rotflmbo::rotflmbo::rotflmbo::rotflmbo:

I strongly recommend that you read Basic Economics: A Citizens Guide to the Economy by Thomas Sowell. He knocks the fallacies that you spout into a cocked hat. He even shows how the government inflation figures are actually overstated, not understated as you claim.


Tex,, please indicate chapter and verse. I just spent 30 minutes skimming, looking for that which you referenced. Nada!

Perhaps you referenced the wrong book. Sowell is one of my favorites...but I have seen nothing like you reference! He has a distrust of governmental reality that is inspiring!

[Naturalized-Texan]

I guess you didn't skim or read enough. Sowell's book that I just finished reading knocks all the fallacies that you have pronounced here into a cocked hat. As for inflation being understated, he points out that because of technology advancements the prices of tech items, that are not included in the inflation figures, are declining so rapidly that they more than offset the increases in other items. He describes this thoroughly in Chapter 18 in my 2004 edition, in the section entitled Economic Measurement, pp. 301-04.

On page 302, referring price indexes, Sowell writes, "In short, these indexes were biased upward in their estimates of inflation."

[Dowple]

They can only print money and/or cut rates. Better own TANGIBLE assets.