Real Estate Market / Inflation / Recession / Depression (credit, agriculture, showing)

[Bob from down south]

Nikkei is down over 6% already less than halfway through the Tuesday trading day.

Karma's a b*tch, ain't it??

[Idunn]

Something from 'The Economist:'

"The FDIC had $45.2 billion in its fund at the end of the second quarter. That compares with $78.3 billion of assets in the 117 “problem banks” it has identified. More worryingly, it represents only a little over 1% of the more than $4 trillion of insured deposits in America."
Buttonwood | A leaky pool | Economist.com

All eggs in one basket?

[Bob from down south]

Whe the FDIC runs out of cash to cover the $trillions deposited into teetering financial institutions in the US, it will simply get a mandate and approval for virtually unlimited public funding from Congress.

YOU...more specifically your paychecks...are the FDIC. There is no FDIC trust fund, per se. Same-O for Social Security.

[Shuffler]

AIG bailout and more bad housing start news (as if there was any doubt)...should be another great day on the Street...

Really looking forward to putting my place on the market in the Spring...

[CosmicWizard]

!

[Bob from down south]

TED spread at 275 basis points...up 75 in a day, worse than when it hit the fan Aug 2007. 3-month T-bill yields now the lowest since 1954. Russia stock market down 17% yesterday with trading halted, down another 10% today and again trading halted. Shanghai down over 66% this year in an Olympic Gold cliff dive.

AIG, a private insurance company, gets $85 billion of your tax money without having to show the public the toxic waste on its books.

Fed is now going hat in hand to other banks trying to get them to consider buying WaMu the Killer Whale as it circles the drain.

Paul Volcker says we need to resurrect the RTC (S&L crisis) or the HOLC (Great Depression I)

And, one of the oldest and largest money market funds in the country (The Reserve's $62 Bn Primary fund - RFIXX) has just broken the buck and has placed a 7-day freeze on redemptions. Anyone remember that fine print in your "safe as cash" money market fund that says it can lose value? You bet, it sure can.

Jazz, we're not at the brink of a leg down, we's down in it.

[Mike from back east]

. . . . Wall Street's business model has collapsed....

Samuelson is one of my regular columns, very easy to understand and no bombast. Here are excerpts from today's column:
Wall Street as we know it is kaput. It is not just that Merrill Lynch agreed to be purchased by Bank of America or that the legendary investment bank Lehman Brothers filed for bankruptcy or that the insurance giant AIG is floundering. It is not even that these events followed the failure of the investment bank Bear Stearns or the government's takeover of Fannie Mae and Freddie Mac, the largest mortgage lenders. What's really happened is that Wall Street's business model has collapsed. ... What is clear is that its origins lie in the ways that Wall Street -- the giant investment houses, brokerage firms, hedge funds and "private equity" firms -- has changed since 1980. Its present business model has three basic components. (To read about the 3 components, hit this link: washingtonpost.com


Meanwhile, the lunacy continues..... one of the Senators running for president, a long-time free market lover, who ten years ago embraced legislation to broadly deregulate the banking and insurance industries that swept aside a thicket of rules established over decades, is today suddenly a champion of regulation to end "reckless conduct, corruption and unbridled greed" on Wall Street.. .... Oh yeah, he'll fix, he'll fix everything . . . bend over America. Full story at: washingtonpost.com

[Bideshi]

Instead of multi-million dollar severance packages, why aren't these criminal CEOs going to prison!? Somebody call a cop!!

[Rocky8Bear]

I'm not sure what most of these posts have to do with the state of Colorado. Since it appears there is no gate keeper for the content of the board, I will join the conversation. The "Peoples Republic of Colorado" board has become nothing more than a political blog. At one time I strongly considered moving to Colorado. I would like to thank you for showing me that this state has nothing to offer other than beautiful scenery. The economy and culture of this state has started and will continue to crumble. 49% of the people won't pull the other 51% on the wagon.

[katzenfreund]

I realize this topic is very broad, but can we please keep the focus on Colorado and PLEASE do not make rude personal remarks. I don't like to delete posts, but will do so, if they are rude and offensive.

Thanks