The Disaster Headline Game

[darkbeaver]

US Economy: Rudderless and Reeling From Direct Hits

A raid on private pensions?

By Paul Craig Roberts

Most Americans, including the presidential candidates and the media, are unaware that the US government today, now at this minute, is unable to finance its day to operations and must rely on foreigners to purchase its bonds. The government pays the interest to foreigners by selling more bonds, and when the bonds come due, the government redeems the bonds by selling new bonds. The day the foreigners do not buy is the day the American people and their government are brought to reality. Continue​

 

[darkbeaver]

Private pensions! How did they find out about mine? I will have to move the bottle now.

 

[Risus]

Private pensions! How did they find out about mine? I will have to move the bottle now.

Maybe I'll just drink mine!!

 

[DurkaDurka]

Here DBeaver, rub one off to this fine specimen. It'll make you feel better :lol:

 

[darkbeaver]

Oh she looks angry.

 

[DurkaDurka]

Don't mistake anger for lust, DB. Dive in!

 

[darkbeaver]

The U.S. Financial System in Serious Trouble

By Prof. Rodrigue Tremblay

Global Research, September 16, 2008

“… a bailout of GSE (Fannie and Freddie) bondholders would be perhaps the greatest taxpayer rip-off in American history. It is bad economics and you can be sure it is terrible politics.”Matt Kibbe, President of Freedom Works
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists." Ernest Hemingway (1899-1961), (September 1932)
[After the Bear Stearns bailout] "As more firms lost access to funding, the vicious circle of forced selling, increased volatility, ... and margin calls that was already well advanced at the time would likely have intensified. The broader economy could hardly have remained immune from such severe financial disruptions." Ben Bernanke, Fed Chairman (March 2008)
​

In August 2007, at the very beginning of the subprime financial crisis in the U.S., and referring to the alchemy-like practice of creating artificial financial instruments, such as mortgage-backed securities (MBSs), here is what I wrote:

“Like all 'Ponzi schemes', such pyramidings of debts with no liquid assets behind them are bound to implode sooner or later.” I also wrote about the Fed's intervention in such cases, that “it alleviates the 'liquidity crisis', for sure, but this does nothing to cure the underlying 'solvency crisis' of institutions holding large chunks of non-performing mortgage-based assets. Sooner or later, such low-valued derivatives will have to be written off, and this will necessarily lead to an erosion of these institutions' capital base. Bankruptcies of the most leveraged and imprudent institutions are to be expected.”
​

 

[Risus]

Here DBeaver, rub one off to this fine specimen. It'll make you feel better :lol:

Ouch, thats just too much!

 

[darkbeaver]

Ebay "deteriorating" - mass layoffs expected

Tags:

• COMPUTERS/INTERNET/SECURITY
• ECONOMY

EBAY WORKERS may be in for a shock they didn’t bargain for, with a report claiming the firm is floundering and preparing to lay off about 10 per cent of the company's 15,000 employees.
Webmaster's Commentary:
Will they sell eBay ... on eBay?

 

[darkbeaver]

How the Masters of the Universe Ran Amok and Cost us the Earth

By Bill Jamieson

SLAM. Slam. Slam. Slam. Like a scene from a gathering of Mafia dons, the doors of 30 black Lincolns slammed shut as their besuited occupants stepped out into a Manhattan downpour – and into a global financial storm.
That storm broke yesterday, with stock markets tumbling around the world. In London, the FTSE 100 plunged almost 4 per cent to 5204.2. - In the US, the Dow Jones industrial average suffered its biggest fall since 9/11.

I think I'm winning.

 

[Kreskin]

Al Gore Invented the Internet; John McCain Invented the Blackberry

http://www.cnn.com/2008/POLITICS/09/16/mccain.blackberry/index.html

 

[darkbeaver]

Neat story and he is a disaster.


Russia halts trading after 17% share price fall

Tags:

• ECONOMY
• RUSSIA

Russian shares suffered their steepest one-day fall in more than a decade on Tuesday, losing up to 20 per cent, as a sharp slide in oil prices and difficult money market conditions triggered a rush to sell.

 

[darkbeaver]

German bankers suspended for sending money to Lehman

Barcelona News.Net
Saturday 20th September, 2008​

Two board members and a junior manager at German state owned lender KfW have been suspended over a transfer of money to a failing US bank.

The transfer of 300 million euros went to Lehman Brothers just hours before the US banking institution filed for bankruptcy protection.

Because the country’s finance and economy ministers sit on KfW’s board, there has been acute embarrassment in government circles, with financial experts calling the transfer laughable.

It has been assessed that in the nation of 80 million Germans, the 300 million euro transfer will cost each citizen four euros each.



A Bank hiest, I love it. There's more and more bank sleeze stories every week now, it's about time we had some decent entertainment. When this school of sharks starts to eat itself seriously, the life giving waters of international finance will be the deepest darkest red.:lol: