tag:blogger.com,1999:blog-4921988708619968880.post5285938990889048704..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, July 30 2008: Mutilation of Old MoneyIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger41125tag:blogger.com,1999:blog-4921988708619968880.post-76854415526896190402008-08-02T12:59:00.000-04:002008-08-02T12:59:00.000-04:00to be clear, Meredith Whitney said it will be at l...to be clear, Meredith Whitney said it will be at least 3 years before the financial stocks might bounce back to their HIGHS, not bounce back period. Though I agree that interview held more veiled truths than she verbalized.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81232447684177618862008-07-31T11:31:00.000-04:002008-07-31T11:31:00.000-04:00Team10Tim,Unfortunately, the financial dynamics th...Team10Tim,<BR/><BR/>Unfortunately, the financial dynamics that got us into this mess are thoroughly rooted in human nature. Booms, busts, manias and crashes of different scales have been going on since time immemorial and will continue to do so for as long as there are people. For a very readable long term look (going back nearly a thousand years), check out <I>The Great Wave: Price Revolutions Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-41091269556858021402008-07-31T11:00:00.000-04:002008-07-31T11:00:00.000-04:00A and THM,Thanks :)A and THM,<BR/><BR/>Thanks :)Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82171230943029498442008-07-31T10:42:00.000-04:002008-07-31T10:42:00.000-04:00“WILMINGTON, Delaware, July 30 (Reuters) - The Fin...“WILMINGTON, Delaware, July 30 (Reuters) - The Financial Accounting Standards Board, which sets U.S. accounting rules, voted on Wednesday to delay accounting changes that would affect trillions in off-balance sheet assets at banks and financial companies.<BR/>Reversing an earlier decision to make some parts of the rule change effective at the end of this year, FASB members voted that the rule Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-5024811536895769662008-07-31T09:55:00.000-04:002008-07-31T09:55:00.000-04:00Glad to see you guy's reporting the truth about th...Glad to see you guy's reporting the truth about the economic tailspin developing "down under". Here it's really a case of two economies at work. The big states like NSW and Victoria are essentially both broke despite 17 years of "economic prosperity". Whilst the resource rich states like Queensland and Western Australia are, or were since the latter has had the wind kicked out of it as a Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42240626657549521662008-07-31T08:57:00.000-04:002008-07-31T08:57:00.000-04:00OK, the masses are starting to get it - two of eig...OK, the masses are starting to get it - two of eight DKos recommended diaries are economic today - oneon covered bonds, one on retail collapse. What good this does I don't know, but I feel less duty to try to make the contents here digestible. Maybe I'll do a pootie diary today ....https://www.blogger.com/profile/03915219261001181341noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-45673209338528830022008-07-31T06:48:00.000-04:002008-07-31T06:48:00.000-04:00"Why on earth is the collapse of the Doha round "g...<I>"Why on earth is the collapse of the Doha round "good news?" </I><BR/>Because it keeps a bunch of dirty sticky greedy little fingers out of a few last small corners of the earth.<BR/><BR/><I>"That means the United States (and Europe) will continue to waste billions of dollars (and Euros) every year in agricultural subsidies."</I><BR/>Their insistence to continue to do so is what made the talksIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-37351708238263917782008-07-31T06:25:00.000-04:002008-07-31T06:25:00.000-04:00Linda,Re your question on reducing loan amount, in...Linda,Re your question on reducing loan amount, in normal times, Ilargi's view is correct. Yet in these times, with recent legislation " to help home owners" your question makes sense. If my neighbour can reduce the loan amount with gov't approval then why can't I? As the responsible home owner you describe I'd be wondering exactly that.Everybody who owns a home has taken a loss whether they are scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-56891184269137261822008-07-31T02:56:00.000-04:002008-07-31T02:56:00.000-04:00Why on earth is the collapse of the Doha round "go...Why on earth is the collapse of the Doha round "good news?" That means the United States (and Europe) will continue to waste billions of dollars (and Euros) every year in agricultural subsidies.<BR/><BR/>Do you own stock in Archer Daniels Midland or something?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66964648753916354432008-07-31T00:15:00.000-04:002008-07-31T00:15:00.000-04:00re: inane Kossack blubber - the site is so high vi...re: inane Kossack blubber - the site is so high visibility it's hard to resist, but for every good finance diary you get two John Edwards love child festivals, a raft of people attempting to rehash stuff already on the rec list, and more cats than you can pet on a double shift.<BR/><BR/> So I go ... and I'm highly inappropriate ... and they love me a little more with each passing day :-(.https://www.blogger.com/profile/03915219261001181341noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-22227807406377988102008-07-30T23:33:00.000-04:002008-07-30T23:33:00.000-04:00Team10Tim"The Great Depression v2.0 implies that h...Team10Tim<BR/><BR/><I>"The Great Depression v2.0 implies that humanity hasn't learned it's lesson, or to put it a different way, that we keep doing the same thing and expecting different results.<BR/><BR/>So, have you two done any work on creating a stable and responsible financial system?"</I><BR/><BR/>Looking at your first line, I'd say you some how know the answer.<BR/><BR/>We need to work on Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-55956349264199019922008-07-30T23:21:00.000-04:002008-07-30T23:21:00.000-04:00""A":"If someone asked me now who I'd most like to...<I>""A":<BR/>"If someone asked me now who I'd most like to meet and invite to dinner, I'd say Ilargi and Stoneleigh. Stoneleigh's wisdom, patience and kindness also amazes me."<BR/>A hearty ditto.</I><BR/><BR/>If you're anywhere near Ottawa/Montreal sometime, that might be arranged.Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42825719470851170382008-07-30T23:08:00.000-04:002008-07-30T23:08:00.000-04:00Hey hey Stoneleigh & Ilargi, The Great Depres...Hey hey Stoneleigh & Ilargi,<BR/><BR/> The Great Depression v2.0 implies that humanity hasn't learned it's lesson, or to put it a different way, that we keep doing the same thing and expecting different results.<BR/><BR/> So, have you two done any work on creating a stable and responsible financial system? If the people of the world come to their senses after the dust clears and team10timhttps://www.blogger.com/profile/12100467801841348435noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-44886916478514468852008-07-30T22:42:00.000-04:002008-07-30T22:42:00.000-04:00anonymous, 4th from the topAs someone, not Ilargi,...anonymous, 4th from the top<BR/><BR/>As someone, not Ilargi, said about elections... It was Joseph Stalin:<BR/><BR/>"It's not who votes that counts, it's who counts the votes," <BR/><BR/>-team10timteam10timhttps://www.blogger.com/profile/12100467801841348435noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-33397388242382596562008-07-30T22:37:00.000-04:002008-07-30T22:37:00.000-04:00Bigelow -- My sincere sympathies. Unfortunately, b...Bigelow -- My sincere sympathies. Unfortunately, been there, done that, much to my regret. A quote particularly appropriate for recent events -- "The markets make fools of wise men." GSJAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88141434278948392862008-07-30T22:23:00.000-04:002008-07-30T22:23:00.000-04:00Blogger Bigelow said...And yes I feel stupid.Sorr...<I>Blogger Bigelow said...<BR/><BR/>And yes I feel stupid.</I><BR/><BR/>Sorry Bigelow that's impossible, I own that sobriquet for feeding-the-pig on my rather wild ride down! Luckily chicken tends to counter pig ... to a degree.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-87377945387157499002008-07-30T21:55:00.000-04:002008-07-30T21:55:00.000-04:00Ever notice most of the U.S. major averages recove...Ever notice most of the U.S. major averages recover huge losses beginning around 2pm? Does the plunge protection team have access to the CIA drug trade money ya think? ---bigalow---<BR/><BR/>I really think the the black budgets of the US military complex are fucking with the stock market. After all, most intelligence 'fronts' are supposedly legitimate business giving cover to spook operations. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-76042958486751482162008-07-30T21:22:00.000-04:002008-07-30T21:22:00.000-04:00"A":"If someone asked me now who I'd most like to ..."A":<BR/>"If someone asked me now who I'd most like to meet and invite to dinner, I'd say Ilargi and Stoneleigh. Stoneleigh's wisdom, patience and kindness also amazes me."<BR/><BR/>A hearty ditto.<BR/><BR/>Might also expect Alfred Brendel to bring wine, while I'm dreaming.The Lizardhttps://www.blogger.com/profile/12044779666881689690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-34631731093323920462008-07-30T20:54:00.000-04:002008-07-30T20:54:00.000-04:00IlargiThanks for not covering politics or WTC. Yo...Ilargi<BR/>Thanks for not covering politics or WTC. Your blog is excellent. First I found your sarcasm off putting, but I'm starting to understand your personality and enjoy it. Incredible blog and service you provide us. This is serious stuff and you two seem to have nailed the situation when few others did. If someone asked me now who I'd most like to meet and invite to dinner, I'd say Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-70394630383046126862008-07-30T20:24:00.000-04:002008-07-30T20:24:00.000-04:00Is there any way to get the home re-assessed and t...<I>Is there any way to get the home re-assessed and the mortgaged amount lowered? </I><BR/><BR/>Yeah, wouldn't that be nice?<BR/><BR/>Your loan is your loan, and no lender will volunteer to shave off a piece. You wouldn't want to let it go up if your home price rises either, right?<BR/><BR/>There'll be reassessments for property tax purposes.Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53299873848471462922008-07-30T19:37:00.000-04:002008-07-30T19:37:00.000-04:00And yes I feel stupid. Ball Bearings?UltraShort Fi...And yes I feel stupid. Ball Bearings?<BR/>UltraShort Financials ProShares (SKF)<BR/><BR/>Good luck to us all.Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-38401481560898469462008-07-30T19:31:00.000-04:002008-07-30T19:31:00.000-04:00Crystalradio,HORIZONS is down almost 60% in less t...Crystalradio,<BR/>HORIZONS is down almost 60% in less than a month. If I remember this is the depressed time of year for natural gas but really; so either a lot of gas wells were uncapped this summer or perhaps hedgers bailed out of energy.Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-3840212922961252002008-07-30T19:13:00.000-04:002008-07-30T19:13:00.000-04:00Well, bigelow, SKF means to me balls of steel. Y...Well, bigelow, <A HREF="http://www.alibaba.com/product-gs/204223778/SKF_Ball_Bearing.html" REL="nofollow">SKF</A> means to me balls of steel. You are made of sterner stuff, I jumped onto HNU but chickened half way down. Now to steel myself to get back on for I hope a ride half way up! Then off, staggering, to sin no more. (till next time:)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-11649059622658736972008-07-30T18:38:00.000-04:002008-07-30T18:38:00.000-04:00Hi Ilargi;It's a pity that you are bringing news f...Hi Ilargi;<BR/><BR/>It's a pity that you are bringing news from the torygraph (sorry, the telegraph) everyday speaking about the disaster of eurozone.<BR/><BR/>Be careful with that because in the eurozone there is still a lot of people making products, not just financial engineering…<BR/><BR/>Those britons that worked for the 65 hours week labour in eurozone, are the same people of financial Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-10903890755921411182008-07-30T18:31:00.000-04:002008-07-30T18:31:00.000-04:00[oopsie... posted on a 2-day old thread by mistake...[oopsie... posted on a 2-day old thread by mistake]<BR/><BR/>Question - what about the homeowner [i.e. mortgage payer] who is currently doing fine. It's likely that their home has also declined in value. They may be able to continue to make their payments, but should they? If they have little equity in the home they should probably walk away. But what about the person who has quite a bit of Anonymousnoreply@blogger.com