Article

2008-10-03 Home Front Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Tranquil Mechanical Yeti 2008-10-03 14:27|| || Front Page|| [11133 views ] Top

Posted by tu3031 2008-10-03 14:35|| 2008-10-03 14:35|| Front Page Top

#2 EU bankers in some forums I read are already trying to start a run on the dollar. They were just waiting for the bailout.

Fill up with gas. When the $ devalues gas will go way up.

Posted by 3dc 2008-10-03 16:46|| 2008-10-03 16:46|| Front Page Top

#3 Oh, they are? Hmm, I already mentioned that theory... anyway, gotta run.

Posted by Tranquil Mechanical Yeti 2008-10-03 16:49|| 2008-10-03 16:49|| Front Page Top

#4 What would the dollar devalue against, exactly?

Posted by Mike N. 2008-10-03 17:02|| 2008-10-03 17:02|| Front Page Top

#5 Perhaps the Iraqi dinar, Mike N. I hear their currency has been strengthening the last several years. ;-)

Posted by trailing wife ">trailing wife 2008-10-03 17:04|| 2008-10-03 17:04|| Front Page Top

#6 I for one would welcome these show trials. Democrats from the Carter and Clinton eras have a lot to answer for, as do a lot of Democrats from the Bush era. However, that's why the show trials aren't going to happen. Instead the Democrats will attempt to pile on regulations to right wrongs they have scapegoated onto the Republicans.

Posted by Darrell 2008-10-03 17:08|| 2008-10-03 17:08|| Front Page Top

#7 The dollar is up to .7268 EUR. When is that run going to start?

Paid $3.18 yesterday. Think it will be under 3.00 by election day?

Posted by Nimble Spemble 2008-10-03 17:08|| 2008-10-03 17:08|| Front Page Top

#8 Shh... Don't tell that to the MSM.

I'm kinda hoping that people won;t have enough confidence in our government to snap up these bonds. I'm crossing my fingers for some good yields. I certainly wouldn't mind grabbing some 10 year for 7 percent or something. Hell, if we return to the good old days of high inflation, I might be forced to grab some 30 year at 13%. Wish I was around back then to grab some.

Posted by Mike N. 2008-10-03 17:12|| 2008-10-03 17:12|| Front Page Top

#9 Hell, if we return to the good old days of high inflation, I might be forced to grab some 30 year at 13%.

I'm gonna hold out for the 15% coupons. Those were the days - when a simple one-year CD yielded 10%, and interest-bearing checking accounts with $500 minimums paid 5%.

Posted by Zhang Fei 2008-10-03 17:16|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-10-03 17:16|| Front Page Top

#10 If there were a Republican they could pin this on, you can bet they would have done it by now.

That no one from Camp McCain saw fit to mention Jim Johnson and Franklin Raines as Obama advisors is ... well, frankly, typical.

Posted by Grenter, Protector of the Geats 2008-10-03 17:20|| 2008-10-03 17:20|| Front Page Top

#11 I remember those days, too, ZF.

I also remember how much interest we had to PAY for mortgages, credit cards, etc.

Pfui.

Posted by Barbara Skolaut">Barbara Skolaut 2008-10-03 17:23|| http://ariellestjohndesigns.com/]">[http://ariellestjohndesigns.com/] 2008-10-03 17:23|| Front Page Top

#12 That would be the Reps Frank and Bachus who led a move for an amendment then voted yes. Take back everything I thought about it this morning, effen sticks.

Kansas voted 3/4 no. Rep. Moore, the sole yes, has district in Lawrence (liberal college, city buys houses then rents them out) and KC area (where people have been building new houses on the outskirts of town, waiting a couple years, selling them at increase value then building a new house on the new edge of town rinse repeat for over a decade now).

$805 bl? What the hell? Is this extra the Senate pork, or an expectation of the dollar devalue between now and 2010?

Rep. Slaughter seemed to think that this bill was a tournequet to stop the bleeding. Hope we don't lose the limb from improper technique or worse just infusing the patient with blood while the wound bleeds.

On the other hand, suggest people buy interest in Schwepps over the next week. Lime futures look good too.

Posted by swksvolFF 2008-10-03 17:25|| 2008-10-03 17:25|| Front Page Top

#13 Sure, the inflation and the rates sucked. But for the next 25 years, when inflation was a few percent, people who bought those 30 year notes where collecting intereset in the teens on a friggin government bond. I would kill to buy guvmint bonds that pay in the teens.

And not only that, people who paid huge rates on their homes got to refinance when rates dropped and their homes were worth more as a result of the rate drop. Not that it's a fantastic investment technique, just that it's not all bad.

Inflation sucks ass and can be an economies death rattle, but if it's short term, it presents some opportunities.

Jeez, people, unleash that greedy capitalist junk yard dog you got inside!

Posted by Mike N. 2008-10-03 17:33|| 2008-10-03 17:33|| Front Page Top

#14 I also remember how much interest we had to PAY for mortgages, credit cards, etc.

But here's the thing - do you also remember how cheap home prices used to be?

Posted by Zhang Fei 2008-10-03 17:35|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-10-03 17:35|| Front Page Top

#15 We are borrowing money we don't have to attempt to shore up entities, many of which we know nothing about. This will drive the dollar lower and make things more expensive for us. Then notes will be held by our adversaries and enemies.

What bin Laden could not do with fuel-laden airplanes, the Congress has done with their mortgage enabling legislation, and now their so-called fix. They will sink this country.

I am very outraged and discouraged. The first thing we should do is to vote every muthaf**kin Senator or Representative OUT of office who voted for this bill. There is no difference between trunks and a$$es on this one. Then we keep track of the rest and vote them out next cycle. I would rather vote for a gorilla in a tuxedo than have these criminals in office.

And this is the tip of the sh*tberg. We have social security and other resource eating monsters in the wings. I think I better stop ranting now.

Posted by Alaska Paul in Nikolaevsk, AK 2008-10-03 18:14|| 2008-10-03 18:14|| Front Page Top

#16 Again with the currency devaluation. Could someone please tell me which currency the dollar is going to devalue against?

Posted by Mike N. 2008-10-03 18:21|| 2008-10-03 18:21|| Front Page Top

#17 I would rather vote for a gorilla in a tuxedo than have these criminals in office.

How're ya gonna tell the difference between them?

Posted by Raj 2008-10-03 20:00|| 2008-10-03 20:00|| Front Page Top

#18 I would rather vote for a gorilla in a tuxedo than have these criminals in office.
Life intimates art, the Dems as chimps.

Posted by tipper 2008-10-03 20:42|| 2008-10-03 20:42|| Front Page Top

#19 "I would rather vote for a gorilla in a tuxedo than have these criminals in office.

How're ya gonna tell the difference between them?"

The gorilla are more honest, Raj.

Posted by Barbara Skolaut">Barbara Skolaut 2008-10-03 21:07|| http://ariellestjohndesigns.com/]">[http://ariellestjohndesigns.com/] 2008-10-03 21:07|| Front Page Top

#20 I agree with AP. The fact that this isn't a profanity-filled, viciously killing-mad rant is tribute to my respect for Rantburg. Between this and the Fannie/Freddie video I'd say most of the House/Senate, and ALL of the Dems, deserve to be tried, convicted and shot for treason. They've certainly earned such an end.

Posted by Jolutch Mussolini7800 2008-10-03 21:22|| 2008-10-03 21:22|| Front Page Top

23:49 Flitch the Imposter aka Broadhead6
23:47 Flitch the Imposter aka Broadhead6
23:34 Flitch the Imposter aka Broadhead6
23:30 Flitch the Imposter aka Broadhead6
23:16 Flitch the Imposter aka Broadhead6
23:14 Barbara Skolaut
23:14 Flitch the Imposter aka Broadhead6
23:11 rjschwarz
23:10 Dino Pholulet5957
23:09 James Watt
23:06 rjschwarz
23:05 rjschwarz
23:01 JosephMendiola
23:01 Flitch the Imposter aka Broadhead6
22:54 Pappy
22:41 Jolutch Mussolini7800
22:36 JosephMendiola
22:31 JosephMendiola
22:30 Jolutch Mussolini7800
22:29 Frank G
22:29 Eric Jablow
22:25 JosephMendiola
22:24 Richard Aubrey
22:09 JosephMendiola