I Don't Mean to Alarm You, but....

Mon Aug 24, 2009 8:49 am » by **Lowsix**

drextin wrote:Sorry I should have been more specific. Vox Day reported this story first. Low has posted it from someone else who basically took Vox's cue and research.

And this guy is your counter? lol ok man

Mon Aug 24, 2009 8:55 am » by **Evildweeb**

nelusmc wrote:If a bank holiday takes place what are the chances of things getting ugly?

If a "Bank Holiday" happens in the US by Tuesday this week, the chances of things getting ugly will grow geometrically proportionate to the amount of crap we have seen in the last 25 years.

It's safe to say that the swine flu would be welcome at that point......

Just sayin'.......

Mon Aug 24, 2009 9:36 am » by **Lowsix**

Other people who share the sentiment of this possibility.

Nourel Roubini
http://en.wikipedia.org/wiki/Nouriel_Roubini
http://finance.yahoo.com/tech-ticker/ar ... BAC,AIG,WM,^DJI,^GSPC

But Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.

That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.

In addition, the recent spike in number of banks on the FDIC's "troubled list" is only through June, meaning even that inflated number understates the problem.

The intent here isn't to add to people's anxieties, but Roubini is one of the few market watchers to correctly predict the severity of this ongoing credit crisis. If nothing else, he says people with accounts exceeding $100,000 in value should spread their money - and the risk - among different firms.

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Mon Aug 24, 2009 4:00 pm » by **Drextin**

My guy quotes Joe Wiesenthal and you put up a wiki of Nouriel Roubini...........

March 17, 2009 Why Do People Make Market Forecasts?

Yesterday, Joe Wiesenthal criticized the idea of Nouriel Roubini making stock market forecasts. Felix Salmon jumped to his old boss’ defense by saying that forecasts are indeed worthless, but the reasoning behind the forecasts can be very interesting.

Then why did Roubini make a forecast in the first place? His audience just expected it?

Let's see...........Dr.Doom...........a man who when he isn't telling everyone that the financial world is going up in flames and the end is near for modern economics........is known for his lavish parties and playboy lifestyle.

Kinda hard to take a nay sayer serious when he himself is making a shit load of money left and right. Some even accuse him of making these dire predictions to sway the market in his financial favor. Its easy to keep making predictions that its all gonna go down hill year after year until finally something does happen. Odds are you are gonna be right at some point.

Mon Aug 24, 2009 5:36 pm » by **Killtylerdurden**

News flash, the same thing (small reserves, a pile of cash to cover) happened during the S+L crisis. Private equity swings in (taking a small hit in the purchase) and a few Treasury appropriations take place and your overblown fears go moot.

Nice try. Now quit wading in waters over your heads...

Edit: I ask you self-proclaimed econ gurus, what could you expect the resultant hit on our deficit to be?

Edit 2: How did this get to the third page without a single post mentioning or referring to S+L? Or is there some great distinction between that and this scenario that makes it irrelevant?

Mon Aug 24, 2009 5:45 pm » by **Pindz**

FEARMONGERING

Mon Aug 24, 2009 5:58 pm » by **Lucidlemondrop**

pindz wrote:FEARMONGERING

Probably right pindz.....

After thinking more about it this seems to be the same scenario we have been bouncing around for quite some time.

I am expecting things to get better next year.

Mon Aug 24, 2009 6:05 pm » by **Drextin**

pindz wrote:FEARMONGERING

Oh god what do I do? If I keep up my current line of thought I'll be agreeing with pindz.....if I switch sides I'll be agreeing with all the negativity I think is keeping the economy from recovering..............wait!................there is a third option.......

*pulls back hammer.......slowly raises gun to head......*

Mon Aug 24, 2009 6:09 pm » by **Lucidlemondrop**

drextin wrote:
pindz wrote:FEARMONGERING

Oh god what do I do? If I keep up my current line of thought I'll be agreeing with pindz.....if I switch sides I'll be agreeing with all the negativity I think is keeping the economy from recovering..............wait!................there is a third option.......

*pulls back hammer.......slowly raises gun to head......*

Hahaha!

Mon Aug 24, 2009 6:18 pm » by **Lowsix**

Christ, just somethin to keep an eye on.