Wednesday, 8 October 2008



yo!...humpty dumpty...innit..!

PALOOKAVILLE FINANCIAL stardate capitulation day+19

...dorkfleet starships...TITANIC AND BRITANIC have been blown out of the water...
by panic selling...caused by the realisation that they was BUST

...the sinkin o a good ship...LEHMAN...was wot caused it ta go pear shape...big time...
suckers all saw emsel abaht ta be whacked by a FEDS anna govt...

bloomberg : ``The big concern is that we're going into recession,'' said de Graaf, a senior managing director at ISI Group Inc. in New York. ``The first part is the unwind of the previous boom, the second is the recession that follows. We're in the camp that we're only halfway through this.''


halfcat : doooommed.!...we're allll dooomed...

zooneh : why is any one surprised?

beulah : at painty bastard aint as stoopid as ah thinked...

spider : wassup?..innit...plenty o flies arahnd.!...wot wiyall iss sh*t an stuff...

laverne : ahm sittin onna fortune...innit..?


jeff : “Cause and effect run from the economy to the stock market, never the reverse. In 1929, the economy was headed for trouble,” wrote Galbraith.

As now, too few understood this. Many who foresaw disaster kept quiet. There was a conspiracy of silence. “The foolish thus [had] the field to themselves.”

In the 1920s, says Galbraith, America’s economy had been weakened by “bad distribution of income... bad corporate structure... bad banking structure... dubious state of the foreign balance... and poor state of economic intelligence”. Who can say with certainty that today it is different? Who now wants to defend the promoters of a one-way bet on property? Any takers?

For those hoping that the stock market’s recent “correction” will be followed by a swift recovery, Galbraith puts a wealth warning on suckers’ rallies. “The singular feature of the great crash of 1929 was that the worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning. Nothing could have been more ingeniously designed to maximise the suffering.”

It’s worth remembering that a full recovery in the stock market took more than 20 years. During that time, in July 1932 the Dow Jones index was 89pc below its top. In Britain, the reaction was less severe: the market merely halved." Telegraph

market ticker : "...Market participants must be able to know that when they engage in a transaction it will be transparent, handled fairly, and their rights will be protected.

Our politicians must stop demanding the impossible - that home prices "levitate." House prices cannot be maintained at more than 3x incomes - it simply can't be done. We must encourage home prices to contract to sustainable, affordable levels quickly and efficiently.

Mortgages must return to 30 year fixed notes, 20% down, no more than 36% DTI. No government-linked paper in any GSE may issue outside these guidelines. We must reliquify the mortgage market, and this is the only way to do it - by writing only sustainable mortgages...."

petey : humpty dumpty sat onna wall...humpty dumpty had a great fall...

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