tag:blogger.com,1999:blog-4921988708619968880.post4808843218664835180..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, August 23 2008: What do YOU say America?Ilargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-4921988708619968880.post-90929126007693718252008-08-25T20:33:00.000-04:002008-08-25T20:33:00.000-04:00An aside: I don't see Peter Schiff mentioned on th...An aside: I don't see Peter Schiff mentioned on these pages, but Roubini gets lots of ink. Is there a reason? Given Schiff's accuracy...<BR/><BR/>CheersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-32250871130662511022008-08-24T20:22:00.000-04:002008-08-24T20:22:00.000-04:00greenpa - Also, Credit unions in our area do have ...greenpa - Also, Credit unions in our area do have a big impact, tens of thousands of members. They seem to have the same services just like a bank. In some ways, this is frightening...because these same services could also become the downfall of credit unions. <BR/><BR/>One good thing is that the credit union answers to its members, not to a big-salary CEO and shareholders.<BR/>Anonymous ReaderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-16670015692136389232008-08-24T20:10:00.000-04:002008-08-24T20:10:00.000-04:00greenpa - Where I live, SW Ohio, there are lots of...greenpa - Where I live, SW Ohio, there are lots of credit unions. Some are affiliated with specific jobs, but many are open to anyone within a certain county area. We recently joined a well-known credit union in our area, as an alternative to the banks. As many already are aware, Ohio has 5 or 6 large regional banks at-risk. While we know many banks will fail, no doubt credit unions also will Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-35419918513204426902008-08-24T17:17:00.000-04:002008-08-24T17:17:00.000-04:00Thinking about that- why don't credit unions have ...Thinking about that- why don't credit unions have a bigger impact? Shouldn't they be able to offer better services- cheaper- all the time if they are truly non-profit? And wouldn't everybody rather get more for less? I don't get it.Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-73584480226353842492008-08-24T14:37:00.000-04:002008-08-24T14:37:00.000-04:00Anon- "What about credit unions?"oops. My face is...Anon- "What about credit unions?"<BR/><BR/>oops. My face is pink. Somehow, credit unions just haven't been on my radar. I DO know they exist- but have never really thought of joining one. I don't know why not, beyond mere convenience- banks are easier to find.Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69988959090211946752008-08-24T12:46:00.000-04:002008-08-24T12:46:00.000-04:00"I don't know what loan sharking is anymore." Maxe..."I don't know what loan sharking is anymore."<BR/><A HREF="http://www.alternet.org/workplace/49676/" REL="nofollow"> Maxed Out</A> author James Scurlock speaking of the Banking Industry.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66970666379476313432008-08-24T11:06:00.000-04:002008-08-24T11:06:00.000-04:00Here is a bit from Mish's blog"China's Olympic Siz...Here is a bit from <A HREF="http://globaleconomicanalysis.blogspot.com/" REL="nofollow">Mish's blog</A><BR/><BR/><BR/><I>"China's Olympic Sized Bust<BR/><BR/>China impressed everyone with its Olympic opening ceremonies, but when it comes to profit, the Olympics disappoint China business owners.<BR/><BR/><BR/><BR/>Vancouver, London, Chicago Take Note<BR/><BR/>Similar disappointments are what Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31582530273949144982008-08-24T10:23:00.000-04:002008-08-24T10:23:00.000-04:00“During a phone chat with my assistant Luis last w...“During a phone chat with my assistant Luis last week, we discussed our mutual unease with bank stocks. Yes, financials had rallied off the July lows, but we could not explain why and our conversation deteriorated into pointless babble. <BR/>Alas, Luis snapped us out of our groveling by suggesting we examine insider trading histories for several of the big banks involved in this mess. PerhapsBigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6047591491932379862008-08-24T09:52:00.000-04:002008-08-24T09:52:00.000-04:00greenpa - What about credit unions?The World Counc...greenpa - What about credit unions?<BR/><BR/>The World Council of Credit Unions (WOCCU) defines credit unions as "not-for-profit cooperative institutions<BR/><BR/>Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union and they elect their board of directors in a democratic one person-one vote Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-39915045481693842802008-08-24T09:33:00.000-04:002008-08-24T09:33:00.000-04:00oh- forgot to say- I don't think the gutting of th...oh- forgot to say- I don't think the gutting of the education system has been accidental. It has been at least partly quite intentional- somebody knows that the ill-educated are much easier to fool, and control. We might want to look at the records- who cuts funds for education? Why, it's the same folks cutting regulations for business. Surprise.<BR/><BR/>What I like least here is; we have a Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-10321757500446088732008-08-24T09:26:00.000-04:002008-08-24T09:26:00.000-04:00Anon - "why aren't people in the streets "-I think...Anon - "why aren't people in the streets "-<BR/><BR/>I think the answers are multiple, and none encouraging. A) - "people" right now have only fractional educations compared to the past. B) the video game world has made almost everything a fantasy- and made everyone passive receptors of entertainment. Sit back and watch - is what we learn.<BR/>C) leaders are in very tight supply. Leaders can Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88589521967582328322008-08-23T19:17:00.000-04:002008-08-23T19:17:00.000-04:00"It is routine to weight the risk of a major bank ..."It is routine to weight the risk of a major bank defaulting by looking at the relevant CDS prices.<BR/>But here’s an alternative measure increasingly used by asset managers - the spread between the yield on Tier 1 paper and “lower” Tier 2 securities.<BR/><A HREF="http://ftalphaville.ft.com/blog/2008/08/22/15308/charting-stressed-banks/" REL="nofollow">Charting Stressed Banks</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-84287838495093616132008-08-23T17:44:00.000-04:002008-08-23T17:44:00.000-04:00Ilargi wrote “Have you given any thought lately to...Ilargi wrote <I>“Have you given any thought lately to how profitable a crisis can be? If it’s your big fat digits that hold the trough, there’s much more money to be made in a crisis than in a stable situation. So you create one.”</I><BR/><BR/>Future gross national product will be derived from these new growth industries: Bankruptcy Lawyer, Debt Collector and Auctioneer.<BR/><BR/>I saw Danny Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-70379198680648479222008-08-23T16:38:00.000-04:002008-08-23T16:38:00.000-04:00The most potent weapon available to a taxpayer is ...The most potent weapon available to a taxpayer is to without their taxes. Don't file; don't pay, adjust withholdings to their max. and starve the government until it is prepared to enact the Constitution.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-16275331936475129052008-08-23T16:35:00.001-04:002008-08-23T16:35:00.001-04:00“THEY LIVE: A Tightwad Nightmare MovieWhat's going...“THEY LIVE: A Tightwad Nightmare Movie<BR/>What's going on?<BR/>Did you ever get the sinking suspicion that ten percent of the world has a secret.. and YOU aren't included. The rich get richer and the poor get poorer. Could this all be a massive consumer conspiracy? They Live is a little known movie that explores the question of new age consumerism. Considered a "cult classic", They Live is Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19130871486199346092008-08-23T16:35:00.000-04:002008-08-23T16:35:00.000-04:00“What is happening here, of course, reflects one o...“What is happening here, of course, reflects one of the largest of the blind spots of contemporary economics: the assumption that market transactions mediated by money are the only significant form of economic activity. Our household jam-making activities drop off the economic radar screen the moment we finish paying for the raw materials. Value is being produced – the same jam offered for sale Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52761451343198563962008-08-23T16:28:00.000-04:002008-08-23T16:28:00.000-04:00I don't think 'Joe Citizen' realizes there is a fi...I don't think 'Joe Citizen' realizes there is a financial crisis. Sure, some people are aware of jobs going away and houses being foreclosed. But this crisis has not yet directly affected most people. What will happen in the near future, that the average Joe/Jane figures out that there is a financial crisis? <BR/>Anonymous ReaderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-80963600084410954972008-08-23T16:14:00.000-04:002008-08-23T16:14:00.000-04:00All I can do is to post these links to two delight...All I can do is to post these links to two delightful images by David Parkins from the 'Gods that Failed' gallery. <BR/><BR/>http://www.guardian.co.uk/business/gallery/2008/jun/04/creditcrunch.banking?picture=334588081<BR/><BR/>http://www.guardian.co.uk/business/gallery/2008/jun/04/creditcrunch.banking?picture=334588079<BR/><BR/>Larry Elliott and Dan Atkinson's book on banking greed Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53023075385023541152008-08-23T15:48:00.000-04:002008-08-23T15:48:00.000-04:00Privatized Profits, Socialized Loses...why aren't ...Privatized Profits, Socialized Loses...why aren't people in the streets about our tax dollars going to pay for CEO bonuses and corporate salaries, especially when no government assistance/bailout is coming to help ‘Joe Citizen’ pay for gas or food?<BR/><BR/>I am beside myself with disbelief that the war against the American people is being won with so little resistance...it is all I hear is Anonymousnoreply@blogger.com