Paging Ben Bernanke
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I had this lengthy post for this thread, decided to delete it because it is pointless to post anything worth reading on here. for most don't have a clue.
Why is it hard to comprehend that a rate cut is a temporary bandage? Do people even really understand fundamentals anymore?
Here is the other problem Wall Street fucked up and doesn't want to admit it. They just don't seem like they understand risk. Oh well pointless to type anymore.
Why is it hard to comprehend that a rate cut is a temporary bandage? Do people even really understand fundamentals anymore?
Here is the other problem Wall Street fucked up and doesn't want to admit it. They just don't seem like they understand risk. Oh well pointless to type anymore.
Why don't you learn to trade based on what the market is doing rather than what you want it to do? Maybe then you would stop begging to have your positions bailed out by a Bernanke rate cut.
I can't wait for your reaction when you see a REAL market correction. This is a walk in the park and the Fed is running out of ammunition.
No it was not. It's the fault of the home construction companies. They were so busy trying to build more houses than their competitors they lost sight of the demand and ended up over built (more houses for sale than buyers). So what happened next? In order to try and increase the demand the banks and lending companies started loaning money to people with sub-prime credit. Then too many of these sub-prime debtors started defaulting on their loans. So these near brand new houses started getting foreclosed on. So now you have a ton of near brand new houses available at foreclosure prices competing with brand new houses that the construction companies were still trying to sell. That is what caused all of this.
All I can say though is thanks! The wife and I were looking at buying a new house anyway and thanks to this debacle we will be able save thousands on it. Add in the fact that short selling the market has also made me some money the net is we will be a getting a slightly bigger house than we originally could at a MUCH lower net cost than we would have been able to just 6 months ago. THANKS!
Yeah, the one thing you want from your puppets is for them to do what they are told and not ask any questions. Bernanke is doing a fine job so far in that regard...
The fed is doing his job.