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Old 07-09-2008, 02:39 PM
 
3,460 posts, read 5,071,720 times
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Quote:
Originally Posted by bchris02 View Post
.... and Iran tested some missiles, sending oil prices higher. We will be back over $140 today.
Oil starts falling and Iran tests missiles. Somehow that doesn't seem like much of a coincidence.

I want a president that will test missiles whenever the dollar starts to fall.
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Old 07-09-2008, 04:42 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,402,274 times
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Quote:
Originally Posted by tallrick View Post
Of course, nothing has been done to strengthen the dollar. Until that happens the bubble will continue.
That is the Decider's fault.
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Old 07-09-2008, 05:09 PM
 
Location: Great State of Texas
86,068 posts, read 74,754,136 times
Reputation: 27602
If anything the Fed has said they will keep the printing press going longer which will make our dollar go down not up.

And how is that in support of a strong dollar ?
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Old 07-09-2008, 05:16 PM
 
Location: Texas
4,933 posts, read 6,974,503 times
Reputation: 5506
Freddy and Fanny may very well be insolvent. Trillion dollar bail out anyone? Anyone prepared to see the dollar fall off a cliff?

Last edited by Philosophizer; 07-09-2008 at 05:42 PM..
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Old 07-09-2008, 07:08 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,402,274 times
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What I thought would happen has happened. The stage is now set for another record run in oil prices. I think we'll get to $150 easily by the end of next week. I think we will end this Friday around $140. Whats crazy is Ben is talking about injecting MORE money into the economy to help with the housing "crisis". Enough already!
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Old 07-09-2008, 07:46 PM
 
Location: Great State of Texas
86,068 posts, read 74,754,136 times
Reputation: 27602
The longer the Fed prolongs the misery the worse the outcome will be.
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Old 07-09-2008, 08:37 PM
 
Location: Charleston, SC
5,615 posts, read 13,152,393 times
Reputation: 2539
True. See: Japan during the 1990s for a perfect example of this. They modeled what not to do when a real estate bubble finally goes.
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Old 07-09-2008, 09:20 PM
 
Location: Heartland Florida
9,324 posts, read 24,265,728 times
Reputation: 4927
Quote:
Originally Posted by HappyTexan View Post
The longer the Fed prolongs the misery the worse the outcome will be.
Exactly. I just want the real estate bubble gone so real progress can be made. Why exactly do we have to tolerate the FED and it's theft of our capital?
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Old 07-09-2008, 09:24 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,402,274 times
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Quote:
Originally Posted by tallrick View Post
Exactly. I just want the real estate bubble gone so real progress can be made. Why exactly do we have to tolerate the FED and it's theft of our capital?
Ben should let housing naturally correct itself. I have no remorse for people who bought a home they couldn't afford on an ARM scam anyways. They deserve everything they are getting.
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Old 07-09-2008, 09:46 PM
 
Location: Great State of Texas
86,068 posts, read 74,754,136 times
Reputation: 27602
Well there's more to it than just the homeowners. The banks took these subprimes and packaged them up into exotic investments and then got them AAA insured and sold them. Now the banks, brokerages and insurers (MBIA, AMBAC) are all in trouble because the investments are now worth pennies. They all have to be propped up by the Fed because neither the FDIC nor AMBAC, MBIA have enough reserves to pay off the insurance on them.

It's a very tangled web they wove.
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