The End of the Financial World as We Know It: Michael Lewis

[trader99]

Quote from talknet:

What Michael Lewis described in 4 pages, I will describe in 4 statements.

"Global financial crisis 2008" was just the "tip of an iceberg".

"Global financial crisis 2009" will be 90% of iceberg under the water

In real world, 90% of iceberg is under the water. Only the "tip of iceberg" is visible above the water. That's the reason "Titanic" sank. They did not see 90% iceberg under the water.

The worst is yet to come.

Moderators moved my original thread to "Chit Chat" http://elitetrader.com/vb/showthread.php?s=&threadid=149374

talknet,

It is gracious that you are attempting to summarize a long 4 page article for all for us here on ET. However, after reading the 4 pages of Michael Lewis' article, an author I find highly amusing and respectable, it does NOT match your summary. Please kindly reread the article rather than extrapolate from the title.

99

 

[Bootsie]

Quote from talknet:

[b"Mother Earth" does not have the resources to support 7 billion people.

Mach [/B]

You ain't seen nothing yet...

 

[Bootsie]

Quote from talknet:

Mother Earth" does not have the resources to support 7 billion people.

Sincerely,

Mach

We ain't seen nothin' yet....

B

 

[ByLoSellHi]

I thought this article was.....awesome.


...to be quite pedestrian about it.

 

[ProfitTakgFool]

He's "long-term" man. We're not looking at the "big picture." LOL. Long-term loser.

Quote from frank grimes:

Stock, I have a question for you..If you know how everything financial works, (stocks, the economy etc....) why are you holding (probably on paper) such massive losses on broken momo stocks? It seems to me someone of your supposed intellect would realize what was happening and bailed out and gotten short....I can't wait for your answer to this!!

 

[RiceRocket]

Central banks can't go bankrupt. They own the printing presses.

 

[dve250]

Quote from Bootsie:

You ain't seen nothing yet...

I have to agree...
BBBBBaby, you just ain't seen NNNNothin yet...

 

[tradersboredom]

any moron can burn down the house or destroy economies. but it taks a leader or genius to build companies and create wealth.

all these gloom talk is telling us that it's raining now.

recessions and even depressions are part of the business cycle come and they go as always.

Quote from Cheese:

The thing about Michael Lewis is that if you cry 'Wolf' long enough then sooner or later you are going to be right. Those that proclaim forthcoming mishap speak of what they want to see happen, no more than that. It is no guide at all to all the tomorrows you live through and which make up everyones individual lifetime.

Doom sayers too may be right, sooner or later, but only to the very limited extent that mishaps from time to time feature in the inexorable march of progress in the short history of civilisation to date.

My equilibrium (and the equilibrium of most) will go undisturbed by the superficial melodrama of the current global financial vortex of recent origin, dissipating and eventually disappearing, as all vortices do.

 

[talknet]

Quote from talknet:

"Mother Earth" does not have the resources to support 7 billion people. So the "global financial crisis" was inevitable (had to happen).

Quote from Bootsie:

You ain't seen nothing yet...

China and India are responsible for "global financial crisis 2008" which includes "Food crisis + Oil crisis + Metals crisis + Commodity crisis + Real estate crisis + all products crisis"

Food, Oil & Commodity prices have been highest-ever in 2008 because of China & India with 2.5 billion people developing rapidly & getting rich. So demand for all the products was highest in 2008 which led to sky-high prices of all Worldly products.

Remember the basic worldly rule-: Demand and Supply.

"Mortgage crisis" was results of sky-high real estate prices which further led to "Banking crisis" and now "Car-makers crisis"

 

[Capablanca]

Quote from Cheese:

The thing about Michael Lewis is that if you cry 'Wolf' long enough then sooner or later you are going to be right. Those that proclaim forthcoming mishap speak of what they want to see happen, no more than that. It is no guide at all to all the tomorrows you live through and which make up everyones individual lifetime.

Doom sayers too may be right, sooner or later, but only to the very limited extent that mishaps from time to time feature in the inexorable march of progress in the short history of civilisation to date.

My equilibrium (and the equilibrium of most) will go undisturbed by the superficial melodrama of the current global financial vortex of recent origin, dissipating and eventually disappearing, as all vortices do.

You're not a fan of insurance right? Good thing you weren't living in New Orleans. You'd probably have scoffed at the notion the levees were susceptible to being broken and stayed there.