[jboogy]

There was a guy on just now,ara sumthin',builder I think talking about how fundies',employment,product. are good and the downturn is do to phsychological problems in the public's confidence.HA! his company lost 10% of it's value and he's shittin' bricks,they're gonna be comin' out of the woodwork telling us how good the economy is and we're crazy for not buying,buying,buying!lots of these dudes are gonna lose their shirts and I have no pity.

[Daculling]

$this->bbcode_second_pass_quote('jboogy', 'I') got a feeling this is going to be BAD.I can't explain it but I'm getting the creeps.I've seen a few people on TV saying things could get real ugly.They NEVER say that on TV.Am I paranoid or has it started for real?

[TWilliam]

Oh, and did someone mention unemployment?

American Home Mortgage lays off 7,000

Anyone think these are the only jobs that will be lost in the coming weeks?

[jboogy]

It's about to snowball ,last friday was just a taste so we know what it's gonna look like when it happens for real.Haven't we all been saying this was gonna happen,we were right and nobody would listen.None so blind as those that refuse to see.Sad to think even now most 'mercans are completely unaware that some serious shit's goin' down.The signs were there, all people had to do was put down the video games and turn off the TV and read a little bit,there were plenty of smart guys trying to warn us.I'm just glad I listened.

[eastbay]

I can't believe all this hyper-doom nonsense around here lately. Oh sure, peak oil will nail us all in time... probably sooner than later, but for now the economy is like a beautiful rose bush in need of a trimming.

In no time at all after the trim, it's as pretty as ever. All we see now is the start of an overdue pruning.

Sorry folks, I can be as doomeristic as anyone about peak oil, but the strongest and safest economy on earth isn't ready to surrender and wilt quite yet.

[firestarter]

$this->bbcode_second_pass_quote('eastbay', '
')
Sorry folks, I can be as doomeristic as anyone about peak oil, but the strongest and safest economy on earth isn't ready to surrender and wilt quite yet.

[eastbay]

What you smokin Willis?

Davidoffs. In the burgundy box. Two a day like clockwork and I have no intention of stopping either.

I picked them up cheap at the duty free in Narita last month returning home to The Worlds Strongest Economy.

[TWilliam]

$this->bbcode_second_pass_quote('eastbay', 'S')orry folks, I can be as doomeristic as anyone about peak oil, but the strongest and safest economy on earth isn't ready to surrender and wilt quite yet.

[eastbay]

TWilliam, I certainly hope I'm right too...

[jboogy]

check cramers freak-out http://www.cnbc.com/id/15840232?video=452808336

[eastbay]

Two weeks ago Cramer said COP would rise to $120.00 making it an immediate buy, buy, buy!

I'm thinking maybe he had a decimal point misplaced.

[firestarter]

$this->bbcode_second_pass_quote('eastbay', '[')i]What you smokin Willis?

Davidoffs. In the burgundy box. Two a day like clockwork and I have no intention of stopping either.

I picked them up cheap at the duty free in Narita last month returning home to The Worlds Strongest Economy.

[eastbay]

Funny one firestarter. Uncle...

I prefer the Davidoffs. They last longer because they're longer and fatter, not skinny like the regular standard-sized cigs. I've been at two cigs/day for decades now.

[PrairieMule]

$this->bbcode_second_pass_quote('TWilliam', 'O')h, and did someone mention unemployment?

American Home Mortgage lays off 7,000

Anyone think these are the only jobs that will be lost in the coming weeks?

[Zardoz]

$this->bbcode_second_pass_quote('jboogy', 'c')heck cramers freak-out http://www.cnbc.com/id/15840232?video=452808336

[evilgenius]

I've said somewhere before that the Fed wasn't going to help anybody. They won't even when there is shouting on the streets for them to. Well, they haven't and they won't. While raising rates will be a real trick now it is still possible for the Fed to keep rates where they are without much trouble. The reason is that lowering rates engenders inflation which can eat away at the wealthy's stash. The Fed can't have that. There has to be a deflationary level of default before the Fed can allow rates to go down. Look, it is simple, there has been a run up during which the rich were able to reduce the percentage of ownership necessary to maintain control. Looking forward they will need to increase that percentage in order to both maintain control and to live at what they consider an acceptable level. They will purchase it after the prices come down. The rich are preparing to live off of the cream. They know there won't be enough cream to go around for everyone to have enough.

As far as the future is concerned, their vision involves China. Hank Paulson is (was?) over there right now arranging the order of things. China will rise up because it benefits the rich. America and China are interlinked. Their timing revolves around their plans for Iraq. Everything they have planned depends upon their winning in Iraq. They must keep up the oil lie until they can destroy demand in the US at the same time as ensuring that China can eek itself out a productive future on the ten to twenty million barrels a day that it will be limited to, while the US learns to live on ten (or less).

Along the way the rich plan on finishing off its potential competitors one group at a time. They have done in the Zimbabwes. They are now going after whomever on the next tier is weak enough for high oil and economic collapse to topple. Some of that is American domestic and some of it is vulnerable Central and South American and Eastern European (amongst others).

I don't think the rich realize just how much and in what way the rest of the world is going to fight back. Most dangerous, the Russians certainly, even without the sophisticated financial infrastructure, are not going to take it lying down.

[jboogy]

That's some pretty convoluted logic evilG,Do you have anything to support this scenario besides your own suspicions?

[Zardoz]

Wheeeeeeeeeee!!!

U.S. credit squeeze frays world financial markets

$this->bbcode_second_pass_quote('', 'T')he unraveling U.S. subprime mortgage market is causing other markets to fray around the edges faster than anyone expected.

As the Federal Reserve convenes for its latest meeting on Tuesday, the corporate credit markets are grinding to a halt. About $90 billion of bonds and nearly $250 billion of loans are still awaiting buyers, several high-profile hedge funds from the U.S. East Coast to Australia have failed, and a major U.S. mortgage lender this week closed its doors.

"All these people saying there is no credit crunch and no economic impact - 'Are you kidding me?'", said Jeffrey Gundlach, chief investment officer at TCW Group in Los Angeles, which manages assets worth $160 billion.

"Ask Goldman if there is no credit crunch, ask Bear Stearns if there is no credit crunch, call up American Home Mortgage and ask them if there is no credit crunch. Come on! It is staring you in the face," Gundlach added.

[Roccland]

[jboogy]

Remember how for the past couple years everyone was saying that housing is what's keeping the economy afloat?building supplies,supply houses,builders,realtors,brokers,consumer spending from equity cash-outs.Well we are in some pretty shit now IF that was true ,cause it looks like NOBODIES gonna be buying a house for awhile.I'm tightening my safety harness one more notch.