The Darkest Storm is About to Descend - You Can't Imagine the Carnage

Quote from capmac:

10:33 S&P bank spread widens to 477 bps, another 5-year high

Standard & Poor's U.S. investment-grade composite credit spread tightened to 294 basis points (bps) yesterday from 311 bps on Monday, after some of the weekend's dust has begun to settle. Financial institutions also tightened to 372 bps from 387 bps. However, banks widened to 477 bps, 5 bps wider than Monday's figure and another five-year record. With continued pressure on financial institutions and banks, the investment-grade credit spread is expected to remain range-bound at present high levels, but it may see strong volatility in upcoming weeks as yesterday's events continue to unfold. After Monday's blow out, Standard & Poor's speculative-grade spread continued to widen, albeit by a much smaller margin, to 843 bps, another five-year high. The speculative-grade credit spread is poised for continued volatility, commensurate with an escalation in speculative-grade defaults over the course of this year.
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Well, shit. That can't be good.
 
Ijust spent waiting 20 minutes for my mutual fund company to answer the call for me transfer my kids 529 accounts from prime money market to treasury money market. Without them saying so there is massive exchanges taking place.liquidity is going to dry up as cash flows into treasuries.
 
Quote from Trendytrader:

Ijust spent waiting 20 minutes for my mutual fund company to answer the call for me transfer my kids 529 accounts from prime money market to treasury money market. Without them saying so there is massive exchanges taking place.liquidity is going to dry up as cash flows into treasuries.
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Yep.

Try to get through to Fidelity, Vanguard - or what about any hedge fund today?

Holy Flood of Redemptions, Batman!!!
 
McDonald's and Burger King are applying now as well...
Drive through banking -- what WILL they think of next?
Super-size me!!!! I'm a go-happy-meal-Xanax-popping US consumer with the bible in my back pocket...
You can COUNT me IN, brother!
:D
 
Quote from syswizard:

This will produce roving bands of homeless, hungry US citizens who will be knocking on our doors looking for a hand-out.
Some will be nice, others will try to rob you.
Better get your guns !
We are about to go into a police state in the USA.
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Change! Can you please spare some change? CHANGE PLEASE! CHANGE?
 
Quote from ByLoSellHi:

I'd love to know anyone on the inside (and knows the extent of the losses in remotely accurate form) who truly thinks this bastardardized patchwork of a 'bailout plan' will do anything BUT bring us down more.
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Agreed. The more government bandaids placed atop profuse bleeding, the harder things will hit when the government can no longer control the spiral. We will be owned by the UN nations and will pay our taxes to them. Whomever said the Bible was bologne about the one-world economic, religious and legal system was flat-out wrong.
 
Quote from GermanTrader:

Agreed. The more tinkering with the markets by the government, the harder things will hit when the government can no longer control the spiral. We will be owned by the UN nations and will pay our taxes to them. Whomever said the Bible was bologne about the one-world economic, religious and legal system was flat-out wrong.
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The spiral will end?
There is no end to the POSSIBILITIES! Haaaa-lellluuuuja!

:eek:
 
not saying it'll work,but if i had a 8000 mortgage and lost my job,couldnt pay it for more than 12 mo's I would have to sell or lose my house. / Now what if i had 10 million a day mortgage and i had 30 trillion and i could borrow from any country in the world,/well i might be able to hold out for 3 years and keep the house/,the numbers are fictitious but the scenario is what the world economists are praying for/it could work /it won't be believable for sometime/this would mean we pullback and test thurs low or at least 50% retrace from thur low to fri high which is 1215/there is also a gap from 1170 t0 1190
 
Quote from Gringinho:

I'm a go-happy-meal-Xanax-popping US consumer with the bible in my back pocket... You can COUNT me IN, brother!
:D
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Your idiot criticism of what you don't understand makes an ass of you. Please continue...
 
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