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Mortgage concerns hit US markets
US shares have tumbled amid fears that problems in the mortgage market may prompt a global credit crunch. ..................
http://news.bbc.co.uk/1/hi/business/6938072.stm
During deep sleep IT came to me and the future of processing is clear.
Future processors will primarily be digital tuning radios acting as grid computing nodes.
Voila. See ya in hell. PROCESSING
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Registered User
don't have money in the stock market...hardy har har.
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Complete & Utter Member
don't have money
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Senior Member
That headline is a crock, nothing but speculation. The author didn't climb into the minds of every investor to see what they're thinking; they're just guessing. Our 401k (retirement account) advisor told us she moved a bunch of stock (sold it) because after the past 18 months it was time to cash out our profits and reinvest in different stocks, etc. It's just profit-taking.
Thank God we're not getting all of the government we're paying for!
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Ultimate Member
lt is just a tad more uncomplicated.. those loan firms have backers - who will be out of pocket. Big backers.
During deep sleep IT came to me and the future of processing is clear.
Future processors will primarily be digital tuning radios acting as grid computing nodes.
Voila. See ya in hell. PROCESSING
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Originally Posted by Lgbpop
That headline is a crock, nothing but speculation. The author didn't climb into the minds of every investor to see what they're thinking; they're just guessing. Our 401k (retirement account) advisor told us she moved a bunch of stock (sold it) because after the past 18 months it was time to cash out our profits and reinvest in different stocks, etc. It's just profit-taking.
Dream on. There's a major crisis in the stock markets, which will affect the whole world , the fed should lower interest rates or MILLIONS of people will lose their homes.
The US economy has been running on borrowed money for a long time, with the last six years of a president, borrowing the money to invade Iraq from China and Japan.
A trillion dollars thrown away on a mythical enemy. It won't be G Dubyas oil buddies that'll end up paying for the mismanagement of the economy, it'll be the working poor who'll end up homeless because of the easy credit and housing property bubble.
As the dollar tumbles the oil producers will transfer their sales from dollars to euros, yuan and yen.
If Bush decides to attack Iran, the consequences will be the start of a thirties style depression.
With the real wages and salaries of American civilian workers lower than 5 years ago, with their debts at all time highs, with the prices of their main asset–their homes–under pressure from overbuilding and fraudulent finance, and with scant opportunities to rise for the children they struggled to educate, Americans face a dim future.
The American experiment with huge deficits, neocon foreign policy theories and an idiot for a president has been a big failure, and it won't be as easily fixed as the Reagan savings and loans scam.
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Senior Member
Hah, look who's dreaming. Mythical enemy? That "mythical enemy" attacked New York and Washington six years ago. 3000 people died. If you don't think that deserves full retaliation, then you're willing to let anyone walk all over you. Get your head out of the sand. It makes no difference whether you consider them an enemy; they consider us (that means you) an enemy.
I give you credit, though...you manage to use every moronic code term in your post. Well, almost. You forgot "Halliburton." And I suppose you think things were better ten years ago when the unemployment rate was 40% higher than what it is now. So why don't you take your "quote" (which, uncredited, you probably just made up - where'd it come from?) and go back to sleep.
Last edited by Lgbpop; 08-10-2007 at 08:44 AM.
Thank God we're not getting all of the government we're paying for!
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You don't know who attacked New York, you just spout the governments lies.
It wasn't Iraq or Afghanistan thats a fact.
Watch out for those terrorists hiding in the Bushes.
Maybe the Bush's are the terrorists, they certainly did their best to stop any investigation in to the crime, then after more than a year of pressure, they announced an inquiry into the attack, with hand picked tame members stacking the inquiry, wake up to yourself and stop believing the lies, you've never seen a terrorist or are not likely to see a terrorist in your life, not because your military is fighting them in Iraq, because your fighting an Iraqi resistance who don't want you there, call them Al Qaeda or anything you like, they want you out of their country, a million dead Iraqis, for something that was probably carried out by a large hidden terrorist organisation, but not hidden in Afghanistan, but a lot closer than that, 17 arabs with box cutters, what are they going to do, cut through the reinforced cockpit doors to get in the pilots seat, are you insane believing that.
As for profit taking on the stockmarket, you must also believe in fairies in the bottom of your garden.
http://www.bloomberg.com/apps/news?p...d=aN_ooPuxK4Kw
The worlds central banks don't need to help out for a bit of profit taking
Fed Joins Banks Adding Cash to Stem Credit Collapse (Update2)
By Christian Vits and Scott Lanman
Aug. 10 (Bloomberg) -- The Federal Reserve joined the European Central Bank in adding temporary cash to the banking system for a second day, aiming to stem a collapse in credit markets.
The Fed said in Washington it is providing reserves to ``facilitate the orderly functioning'' of markets, in a statement unprecedented since the aftermath of the Sept. 11, 2001, terrorist attacks. The European Central Bank loaned 61.05 billion euros ($83.6 billion), keeping most of yesterday's record injection of funds in the system.
``This is a situation of great uncertainty,'' said Alice Rivlin, a former Fed vice chairman who's now at the Brookings Institution in Washington. Central banks ``are all injecting credit in hopes that collectively they can stabilize things.''
Central banks in Japan and Australia also added funds as money-market rates rose. The subprime crisis is spreading after international investors in the past year piled into the U.S. market for debt backed by mortgages.
`Very Severe'
``This happens only during a crisis, so this is certainly an indication that funding problems in the market now are very severe,''
The ECB's action ``aims to assure orderly conditions in the euro money market,'' the Frankfurt-based ECB said today. Yesterday, the bank loaned an unprecedented 94.8 billion euros to assuage a credit crunch.
Default rates on home loans to people with poor credit, known as subprime mortgages, are at a 10-year high and American Home Mortgage Investment Corp. this week became the second- biggest U.S. home lender to file for bankruptcy.
Last Updated: August 10, 2007 11:15 EDT
While your idiot president throws a trillion dollars down the Iraqi drain, the worlds central banks have to try to bail out the markets and stop mortgage foreclosures, and panic selling.
While the ECB ``appears to have successfully stabilized conditions,'' the chances are ``that ECB intervention in the money market becomes a daily event.''
The collapse of the housing sector and the default on the multi billion dollars of credit, borrowed on the value of those assets could be the start of a painful recession.
Don't get me started on the evils of sending jobs offshore.
If that lunatic Bush lets Cheney talk him into attacking Iran on his manufactured evidence, then you can guarantee the collapse of the worlds economy.
The unfortunate thing is, you people elect these imbeciles and the rest of the world gets to suffer with you.
Last edited by werz; 08-10-2007 at 12:12 PM.
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Senior Member
All spoken like a true Marxist. I don't know who the "millions" of people are losing houses that you keep talking about over here, and neither does the BBC. I know there are a lot of damned fools who overreached just to buy a house, then cried stupid when their adjustable-rate mortgages went up - but I have no sympathy for stupid.
As far as who attacked us, it was al-Qaeda, as they themselves admitted. They are being trained in Iraq, Afghanistan, Londonistan and elsewhere. The way you spout your nonsense, I'd believe you were one of them yourself. A million dead Iraqis?? Whose propaganda are you swallowing whole? We're aiming for terrorists; the terrorists are aiming for Sunnis, Shiites, Kurds and each other - they don't care. I suppose you're going to say that Bush also planned the London tube bombings and was responsible for the Lockerbie airliner crash as well.
One last thing - airliners now have reinforced doors because of what transpired on 9/11. They didn't have them on 9/11. Sorry to confuse you with facts.
Thank God we're not getting all of the government we're paying for!
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Complete & Utter Member
JM Grabs popcorn
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Administrator
Originally Posted by j.m@talk
JM Grabs popcorn
Me thinks they should get a room.
"Vegetarians live up to nine years longer than the rest of us...Nine horrible, worthless, baconless years."
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Complete & Utter Member
They were saying on the telly tonight that our morgage rate is goin up to bout 6% before Christmas......... Well they didn't actually say which Christmas tho...... Not that I'm fussed ...... Not got no Steeking Morgage
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Ultimate Member
Originally Posted by Steve R Jones
Me thinks they should get a room.
..it's called mental ma$turbat.....never mind
For those overseas - pick up the August 9th Financial Times and read my letter to the editor reply to a think tank commentary by some America basher claiming that the current crisis was a repeat of the S&L "fiasco" in the late 80s and it's excesses.
1. The issues facing the stock markets are way too complicated to figure out here.
2. It's not "profit-taking" - in nearly every sector, in every index, many stocks are down regardless of their historical prices
3. the dollar is at a historical low against nearly every other currency
4. diversification used to be some protection - now the overseas markets get spooked when the US markets get whacked
5. sure the sub-prime crisis is an issue, but let's not forget all those people buying houses was a real engine of economic growth at one time. Curious tho - there have been more non US bank bailouts in the past few weeks than here in the US
6. the central banks know full well they may need to lower rates, but can't afford to do so now given other inflationary pressures - and other concerns that are specific to their own economies - so infusing liquidity in credit markets is the next best step
7. and finally - economic cycles occur - period. Going off on some conspiratorial and political bent is entertaining but hardly relevant.
"hope to someday have a clever or inspirational quote....."
ANON
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Senior Member
7. and finally - economic cycles occur - period. Going off on some conspiratorial and political bent is entertaining but hardly relevant.
Most sensible thing said all week on the subject.
Thank God we're not getting all of the government we're paying for!
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Ultimate Member
Originally Posted by Lgbpop
Hah, look who's dreaming. Mythical enemy? That "mythical enemy" attacked New York and Washington six years ago. 3000 people died. If you don't think that deserves full retaliation, then you're willing to let anyone walk all over you. Get your head out of the sand. It makes no difference whether you consider them an enemy; they consider us (that means you) an enemy.
I give you credit, though...you manage to use every moronic code term in your post. Well, almost. You forgot "Halliburton." And I suppose you think things were better ten years ago when the unemployment rate was 40% higher than what it is now. So why don't you take your "quote" (which, uncredited, you probably just made up - where'd it come from?) and go back to sleep.
I don't really understand your logic here? The full retaliation that has occurred has amounted to far more Americans dying ( and counting) than the original act. I would say that the terrorists are far more successful now than they were originally. The retaliator always pays. Attacking a country with virtually no weapons; then being stuck there to save face, and losing thousands of good military personnel as a result. It is pretty sad.
SAVING FACE OR LOSING FACE
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