Posted:
#1
Do you guys think now is the time to buy oil with all the crap going on in Middle East and Russia?
2009 Forecast
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Views: 459
Posts: 12
Posted:
#4
Quote Originally Posted by KOAJ:
bank of america
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Bank of America enters 2009 with $61.7 billion of tangible common equity, supporting $2.4 trillion of tangible assets,
bank of america
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Bank of America enters 2009 with $61.7 billion of tangible common equity, supporting $2.4 trillion of tangible assets,
I wonder what the REAL number was, the number from 2 yrs ago versus what they have written down and written off as of now.
Nothing better than 50 to 1 leverage versus deposits/assets
Posted:
#7
screw these banks. We just wasted billions on these institutions. We gave enough money to these crooks. Instead of giving us all this money, they could have given every american billions of dollars. I know this isnt economical as everyone would quit their jobs, but for crying out loud, they could have given us say $50,000 each and we could have all paid off credit cards, bring mortgages up to current, buy plasma tvs, bought new cars, boats ect. That sure seems like a helluva better situation than giving Citi and BAC $100 billion or whatever it was to watch them go under.
Posted:
#10
Quote Originally Posted by KOAJ:
would have rather them pay down the debt and let the mkt work itself out printing money only devalues it
would have rather them pay down the debt and let the mkt work itself out printing money only devalues it
Yeah, no doubt. That's the fucking point here. We need to devalue the fuck out of everything because the system is so toxic. Everyone--including the Market Ticker guy (whom, btw I love to read [thanks KOAJ])--is all over helicopter Ben. They act as if he doesn't know what's going on. He knows better than all of us how truly fucked up the banks' balance sheets are. So, he's ratcheting up the printing press and clobbering down interests rates in hopes that we can devalue the hell out of everything; this is our only chance.
Ben is trying to pilot the crash-landing of a huge-ass 747 with everyone on board lining up to ask for more oxygen masks. The oxygen masks surely have no choice to prevent the crash, but pilot Ben hopes that if he keeps handing them out en masse (TARP) people will be so high off the oxygen that when the plane crashes, they won't feel it (as much). Because, it's crashing without a doubt. It's just a matter of how much Maine St. feels it at this point. Deflation is imminent and it's his job to do everything he can to keep us from it. The hope is that before hyper inflation can kick in, the crash will happen and we can somehow settle into some sort of equilibrium.
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