Anyone scared about the economic crisis?

[busterb]

I have a few questions?
As I've worked in oil related Fields all my life.
Around here they're laying 42" lines, That I think cost 1 million bucks a mile.
My oldest son is number 2 man over the environment shit. They get paid for, 4 whellers, cell phones, cameras, per-deim. God only knows what else.
He makes around 2k a week and most of that is tax free.
#1. ? Where did the products suddenly appear from? My guess, is that they were waiting on an a bunch of thieves!
#2 There's more than 28K mile of pipelines in the works. Where did this great supply come from?
#3 Whom do you think will pay for this?????
Bet your ass, it won't be this bunch. Hi DICK!

[tw]

Originally Posted by busterb

I have a few questions? ... Around here they're laying 42" lines, That I think cost 1 million bucks a mile.
My oldest son is number 2 man over the environment shit.

Is that oil? Or is that the new natural gas pipelines to deliver tankers of natural gas to the Northeast and Midwest?

Gulf have the only ports (except Boston) willing to accept liquified natural gas ships. Jersey wanted to do this on Delaware Bay. But the state of Delaware owns all water right up to NJ beaches. DE quashed that natural gas port. So tankers must download gas in the Gulf of Mexico where it will be piped to midwest and NE consumers.

[Sundae]

Our Govt taxes the bejesus out of petrol (gas).
I don't mind because I don't drive.

BUT
without wanting to give in to my Chicken Lickin impulses, I am worried about the grain shortage. I don't mind for myself if the price of bread goes up. Or even chicken. But if it gets to the point where poorer people start going hungry... Well. KFC might go out of business.

As you were - I did follow the intelligent discussion with interest.

[elSicomoro]

Originally Posted by tw

As usual, the emotional make claims without even stating a single reason why: and How do we know both have not a clue? Both would attack the messenger AND both would not provide a single useful fact. How curious. Extremists also do this.

Tw, I suggest you re-read the Portfolio 101 thread. Depmats made a flippant comment to which I challenged him to refute your statements...IOW, I was defending you, you silly goose!

[tw]

Originally Posted by sycamore

Depmats made a flippant comment to which I challenged him to refute your statements...

Sorry. I completely misunderstood.

[Trilby]

To answer your question, aimeecc, I am not scared when I stop to think about it: the way my ancestors lived, the starvation they faced, the grinding poverty, the discrimination, the dirt, the lack of education. Most of the world lives on a lot less than I do. I'm poor, but I've never been homeless or hungry (thank goddess) and man, I hope it stays that way. Trust the universe---it's always been very good to me even when I thought it was going to kill me.

(I am a girl today)

tw: make love, not war.

[Undertoad]

BTW that fund has lost 25% of its value in the last two months. I'm happy to be out of it, for whatever reason.

[Kingswood]

I find it amusing that some here are complaining about 6% interest rates.

In Australia, interest rates are higher. The standard variable rates offered by the major Australian banks is about 9.3% right now.

[TheMercenary]

Originally Posted by Kingswood

I find it amusing that some here are complaining about 6% interest rates.

In Australia, interest rates are higher. The standard variable rates offered by the major Australian banks is about 9.3% right now.

But, but, you have free health care, and, and, you drive on the other side of the road... and.... Ali has a nice new house near the coast...

[classicman]

Since there was some interesting banter in the last couple pages, Ifigured I'd put this here instead of creating a new thread.

Reuters - The U.S. Treasury Department is planning to delay the release of any completed bank stress test results until after the first-quarter earnings season to avoid complicating stock market reaction, a source familiar with Treasury's discussions said on Tuesday.

The Treasury is still talking about how results of the regulatory stress tests on the 19 largest U.S. banks will be released, and may disclose them as summary results that are not institution-specific, the source said.

The government is testing how the largest banks would fare under more adverse economic conditions than are expected in an attempt to assess the firms' capital needs. The tests are due to be completed by the end of April, but Treasury has said they may be finished before then.

Treasury did not immediately respond to a request for comment.

U.S. regulators have reached the closing phase of the stress tests, with many of the top banks having already turned in their internal versions of the test to officials.

"There will be definitely be some information that will be provided at the end of it, but exactly what that will be, and when it will be provided, will come forth later," Comptroller of the Currency John Dugan, who supervises some of the nation's largest banks, said last week.

The last thing Treasury wants to do is set off a panic

Ahhh, the transparency of it all. The more things change, the more they stay the same.

[ZenGum]

Sooooo many times I have heard of government decisions along the lines of "Don't do it, it would cause a panic". Inevitably, it either leaks out or they are forced to act later, which guarantees a much worse panic when they do.

The governor refused to fortify Singapore as the Japanese pushed South through Malaya to avoid causing a panic.
The Brit government didn't publicise the threat to industrial cities in the north, to prevent panic, until the Luftwaffe superseded them.
There are plenty of other examples but I won't mention them. I wouldn't want to scare anyone.

[classicman]

Stress test results anyone?

[lookout123]

PR campaign anyone?

[TheMercenary]

Can you say Monopoly Money?

[sugarpop]

skank of America and shittybank did not pass the test, but the government wants them to raise capital privately instead of giving it to them.

On another note, the banks spent tens of millions of dollars lobbying Congress to NOT pass the bill that would have allowed a bankruptcy judge to order refinancing of someone's home who was in foreclosure. Before any of you have a cow, rich people can save any number of extra homes they have, or yacths, farms can be saved, and many other things. Only if you are so unlucky as to own only one home, which you happen to live in, you do not get that same courtesy. And the bill was just recently voted on again. And it didn't pass. Surprise surprise. Why is it we will protect someone's vacation home or thier yacth, but not someone's primary residence?

Get the story here... In a recent radio address on Radio Chicagoland Senator Richard (Dick) Durbin remarked on power the financial services industry still wields at a time when that industry is theoretically under great scrutiny: "The banks — hard to believe in a time when we're facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place."

The banking lobby won a significant victory in Congress on May 1, 2009 when 12 Democrats joined a united Republican Caucus to vote down an amendment to President Obama's housing bill. At issue was a measure that would have allowed bankruptcy judges to modify mortgages to help homeowners avoid foreclosure.

The House version of the bill, which provides wide housing assistance and consumer protection measures, passed with the amendment, but Speaker Nancy Pelosi recently said she does not expect the measure to be included in the final bill since the Senate voted it down.... (there's more) http://www.pbs.org/moyers/journal/05082009/profile.html

This fucking blows. We need another Pecora Hearing, like they had in the 30s during the Great Depression. It will be the only way we can win against the powerful banks. http://www.pbs.org/moyers/journal/04...anscript1.html

About the stress tests... http://voices.washingtonpost.com/hea...ress.html#more