we're all doomed. DOOMED!
"Casey gives an apt summary of our present predicament. There is currently $370 trillion in derivatives, hedge funds and over-leveraged marginal investments. There is no coherent relationship between this mass of cyber-wealth and actual deposits or investments. It is merely a fractional banking scam on steroids; computer-generated capital with no basis in reality. As the sub prime market comes under greater strain; hedge funds will teeter, derivatives will tremble, liquidity will dry up and the whole debt-plagued system will crash in a heap. The frantic efforts of the PPT with their flimsy bits of scaffolding will amount to nothing. Wall Street is quick-stepping towards the gallows and there’s little hope of a reprieve."
That sounds scary but the really interesting question is what actual % of investments that is. todays market is WAY more diverse than it was 20 years ago.
it is possible for one sector to crash and others to continue.
hold your breaths :)
What was that thread last month where you guys said we were all doomed? Oh, yeah, the Chinese were going to switch to euros or something. Is that still on?
March 18th, 2007 3:27pm
oh, hell yeah. its all happening dude. all at once. we're doomed. DOOMED!
I thought we were doomed because the chinese have switched to euros, dick cheney invested some money in belgium, AND hedge funds are just playing games with electronic money. Also, cops can get your DNA from loogies on the street, p is false if there is no evidence for p, and Ireland shackwhalloped the west indies in cricket. THE END IS NEAR!
March 18th, 2007 3:43pm
oh, come on.
it hardly matters specifically _why_ we're doomed.
It could be for any one of hundreds of different reasons.
There is no point now in sorting out which one is going to screw us. the important thing is that we are doomed. DOOMED!
oh, and you forgot the bees dying out. frankly that scares me WAY more than this housing market thing.
oh yeah, bees. BEES. I don't know how anyone can think of bees without thinking of the end. Where is my epi pen??
March 18th, 2007 3:50pm