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Old 07-10-2008, 05:20 AM
 
655 posts, read 756,887 times
Reputation: 240

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Quote:
Originally Posted by HappyTexan View Post
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.
The fed can either print cash and give it to the banks soe they can stay afloat a little longer, or let them fail and print the cash for the FDIC payouts. Either way, it is having a horrible affect on the dollar. I say let the chips fall where they may. In the long run we will be better off.
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Old 07-10-2008, 09:03 AM
 
11,836 posts, read 25,881,151 times
Reputation: 2790
I wonder what will happen if .gov pushes this idea forward?

Charlotte Observer | 07/10/2008 | Fed chief: Empower financial regulators (http://www.charlotte.com/news/ap_news/story/707061.html - broken link)
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Old 07-10-2008, 09:17 AM
 
Location: Apex, NC
3,066 posts, read 7,569,746 times
Reputation: 2546
OK this is NOT on topic, but that picture of Mr. Bernake looks like it was taken in 1865. He's trying making it "cool" for men to have facial hair again...lol
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Old 07-11-2008, 06:39 AM
 
681 posts, read 2,621,769 times
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Am I the only one who thinks that with oil hitting yet another new record today, the original poster's prediction of an oil bubble burst this week is going to turn out to be just so much hooey?
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Old 07-11-2008, 06:43 AM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,390,015 times
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Quote:
Originally Posted by NWPAguy View Post
Am I the only one who thinks that with oil hitting yet another new record today, the original poster's prediction of an oil bubble burst this week is going to turn out to be just so much hooey?
We'll hit $150 today, then its onto $170 next week. The oil bubble will not burst for a long time, if ever. This week proves that whenever downward pressure begins on prices, investors can always think up of ways to send the prices spiraling upwards. This bubble cannot burst until speculators are held accountable for their actions.
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Old 07-11-2008, 07:44 AM
 
19,084 posts, read 20,635,049 times
Reputation: 8353
Hehehe... looks like your big-wig oil friend was wrong... and things are happening just as I expected it to months ago... the DOW will keep falling for about another 1000 points before there is any light... the only way to reverse the trend is to threaten Bush's friends... namely oil producers which are oil nation governments... if they don't control the price of oil, we invade them... don't be coy about it and be very direct... the time for diplomacy is over, no more hush talks or making deals... tell them if they don't stop robbing us, we are going to rob them...
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Old 07-11-2008, 08:53 AM
 
Location: Earth
1,461 posts, read 3,738,488 times
Reputation: 893
Quote:
Originally Posted by travelmate38 View Post
Downward spiral is under way. You heard it here first. Oil will begin a downward trend back into the mid 130s, from there, speculators will begin to panic dropping it into the low 120s, then a gradual decline to the 110-115 range where it will stay for months. Regular unleaded will still be at $4.15-$4.25 for a few months before falling in to the $3.25-$3.50 range where it will stay.

How do I know this? Just got off the phone with a big wig in the oil biz. This is his prediction and he broke it down piece by piece for me. Too much pressure on the downside now.
LOL.......!! Step away from the bong....
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Old 07-11-2008, 09:00 AM
 
450 posts, read 1,864,130 times
Reputation: 303
Talking Oil drop? Not this week, bro!

Yeah, I think we need some more demand destruction with lifting of subsidies in the BRIC economies and a global slow-down to see any decline in commodities. The price drop will come, but not anytime soon. I am watching Fannie get kicked in the fanny and Freddie getting kicked in--well, just ask Jessie Jackson where!
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Old 07-11-2008, 09:32 AM
 
Location: Great State of Texas
86,068 posts, read 74,637,745 times
Reputation: 27602
More than likely that big drop in oil was due to some big money having to cash in to cover..Lehman maybe seeing as they got barred from oil speculation in the unregulated markets. I didn't think it was a bubble burst as there were no other fundamental changes to support it.
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Old 07-11-2008, 09:55 AM
 
16,092 posts, read 37,226,097 times
Reputation: 6280
Bubble bursting? Not hardly, as we say in Texas.

"If you don't have an oil well, get one!"
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