RTC!

[heyheybooboo]

President Hoover will be addressing us at 10:45am

 

[Lemon law]

At best, the RTC is an artificial construct, a mere bandage to keep wrapping money around. As the GWB&co. spend and borrow policies come to a crashing Hoover halt four months before the scrub can slink out of office. As ye sow, so shall ye reap.

What we don't see yet is the secondary effects, that will be coming all too soon. And there are inflation, large job losses, and a host of other effects that must follow.

Can anyone remember, just eight years ago, we had a Federal budget running in the black, the USA was respected in the world, we were at peace and not mired in two quagmires, and then over one BJ,
we asked GWB to save us?

 

[BansheeX]

Let me guess, by selling these assets years down the road for a "profit", the profit is strictly in nominal terms as inflation, and if you were to compare the market value of today priced in gold to the market value at which they sell in the future, its value in terms of non-debasable money will not have changed at all. Effectively fooling taxpayers into thinking that the government did something good for them when in reality it stole from them. I love this nominal vs relative value stuff, it's so easy to fool people by just giving them more paper, they think not of declines relative to actual goods you buy with it.

 

[mshan]

Word!!!

 

[jackace]

Originally posted by: halik

Originally posted by: jackace
This whole mess is so screwed up. They keep screwing with the system and screwing average Americans. After all this BS I just don't understand how these companies and the government can expect the average American to trust the system anymore. They change the rules at any time, bailout big business, and put the burden of both on the tax payers. (aka average American)

The average american was getting 5% annual appreciation on their house. WTF are you talking about?

Yes house values were going up much faster than they should have been, but what about retirements, and other investments the average American is holding. Look at what else these problems have caused, many people are losing jobs, and now that housing prices are falling people are losing homes and life savings. Many Average Americans have a good portion of their savings tied up in their homes.

On top of all this we put the average American tax payer on the line for $billions in bad debt. Which boils down to tax payers subsidizing Wall St. and not letting the capitalistic system work because these companies are too big to fail. ("private profits and public losses" comes to mind)

 

[mshan]

Guy Adami (former chief gold trader at Goldman Sachs), in that video link "Word!!!" above, said, 6 months down the road, this might end up being viewed as "the greatest trade in the history of trading."

 

[glugglug]

Ron Paul on the idiotic "fix": http://www.infowars.com/?p=4698

 

[ponyo]

Originally posted by: mshan
Guy Adami (former chief gold trader at Goldman Sachs), in that video link "Word!!!" above, said, 6 months down the road, this might end up being viewed as "the greatest trade in the history of trading."

Maybe so but the govt took the trade and the opportunity away from the public and the institutional investors.

 

[mshan]

I don't think a lot of those institutional investors have enough free capital left to make those kind of purchases.

Really really smart money is apparently waiting on the sidelines to eventually swoop in and pick up distress assets at firesale prices (it may have never been worth a nominal dollar, but it isn't also worth zero, if you can afford to wait some time), but isn't willing to commit till the Fed / Treasury moves first to establish some sort of bottom. Who wants to be first, inject capital now, and then either get diluted or totally wiped out down the road when next round of hidden bad debt is revealed (Fast Money Crew yesterday mentioned Level 3 assets a lot yesterday, and today kept using the analogy of making these institutions lift the kimona so potential investors really know what they buying).

And did you see Cramer's opening segment on Mad Money tonight? He said that if nothing had been done, we were within days of total financial meltdown, as in he said you possibly could have gone to your ATM next week and it wouldn't have give you any cash. :Q