Quote:
Originally Posted by FranchisE
the economy is all but fine...
seriously...
i mean its not the great depression but
the exchange rate for US currency is crumbled...
mortgage is all fucked up...
goverment aid like well fair and shit is contributing to
the largest national debt in the planet.....
and we are fighting multiple wars..witch run millions
of dollars out monthly....id love to see how much weve spent
thus far....
with that said its not the great depression...
but shit aint all gravy.... |
no the liberal media is trying to scare us into voting for obama!
that bear stern incident didnt happen, fannie mae is doing super, food prices are droping, the dollar is stronger than ever, forclosures are at an all time low!
Merrill Lynch, Wachovia and other financial companies are at risk of failure as the cost of raising capital soars at a time when the banks need to pay settlements over auction rate securities, David Kotok, chairman & chief investment officer from Cumberland Advisors, told CNBC Monday.
"I think the financial problem is half way through the cycle … there's another shoe to drop ahead of us and it could be more severe," Kotok told "Worldwide Exchange." (Watch the video at the left to hear Kotok's views on where oil and the dollar are heading.)
The cash companies need to shore up bad investments, "is up to about $50 billion and will probably top $100 billion before it's over," he added.
"Those firms -- Merrill,
MERRILL LYNCH & CO INC
MER
23.59 -0.23 -0.97%
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[MER 23.59 -0.23 (-0.97%) ] Wachovia
WACHOVIA CORP NEW
WB
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[WB 14.04 -0.26 (-1.82%) ] and others -- are going to have to raise that cash," he said. "They are either going to have to get it from the Federal Reserve, through some direct or indirect means, which means more leverage, more Fed balance sheet, more regularly oversight or they're going to have to get it in the capital markets."
......so that means there is a possibility of the fed (which is not a federal institution) will have to print some more money to keep these banks afloat resulting in even more inflation and futher weakening of the dollar...or it could all be an elaborate lie by the liberal media....