WTF - Fortis, RBC, Barclays, GS - all calling for a FINANCIAL MELTDOWN!!!!

Quote from gwac:

The problem with the big 3 is oil. They make money from their gas guzzlers so when they do not sell, they are in trouble.

I personally do not see oil coming off yet so i think gm/chry and ford are in serious trouble.

If you think oil is coming off to below 90, gm is a great buy here.
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Why GM isn't already extinct by now I don't understand. Give it another 5 years and they will be gone, or bought out by TATA,Toyota, or Honda.
 
Quote from achilles28:

The Stars have aligned for a Crash.

When the Fed raises, it means the Banks and IB's cleared most - if not all - of their CDO's.

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Great post.

Bernanke is fascinated with the Great Depression and is a great Economist, but he is trapped. Not saying this correction will be as bad as 1929, but imo 1987 is a good starting point.
 
Quote from Jayford:

KIN and ST

its gonna get ugly, and you will claim you bought the low as you always do,

We are in a bear. trade it!
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Your post is complete bullshit. I rarely post my entry points for stocks on ET. You have no idea what you're talking about. Stock turd3r on the other hand...
 
Fortis called for 6,000 small American banks to go under - GM and C, included. Meltdown in weeks.
http://72.14.205.104/search?q=cache...ctie_Fortis.html&hl=en&client=mozilla&strip=1

RBS - Issued a Global Stock and Credit Market Crash Alert. 300 point drop in the S&P 500. Meltdown in 3 months.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml

Barclays warned of 'financial storm'. Has advised "wealth preservation" (aka go to cash...)
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/cnbarclays127.xml

Goldman said Credit fallout won't PEAK until 2009! American banks need to dilute and sell assets to book another 65 Billion in fall-back capital.


Looks like a ton of small American Banks still hold CDO's. ARM resets will put them under. The first few regional banks will Crash the market. Panicked investors will just run for the exit. Oh man.
 
Quote from Illum:



Bernanke is fascinated with the Great Depression and is a great Economist, but he is trapped. Not saying this correction will be as bad as 1929, but imo 1987 is a good starting point.
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Yes, he is trapped. There is nothing he can do.

1929 margin calls were coordinated.

Today, I think the market will dictate. As we drop, margin will get higher as risk premium to underwater funds goes parabolic. Margin call, liquidate, sell off. Repeat. And thats just market exposure. Consider the other side - banks need to be in cash to weather ARM resets....

Forced selling on either side for Banks to cover housing losses.

Any needle could break the camels back right now.
 
Quote from Jayford:

KIN and ST

its gonna get ugly, and you will claim you bought the low as you always do,

We are in a bear. trade it!
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How about T-Bills?

Barclays says Bonds will eventually sell off to adjust for inflation if rates stay low.

What about all the mortgage lenders, finance companies and auto dealers that key off T-bills as a proxy for long-term financing? Adjusted for consumer creditworthiness and broader economic health, consumer rates will continue to ratchet up. Credit Cards already jacked interest and many dropped limits...
 
Anyways, the very first forex trades are tinkling in. Carry-trade is up and Euro is down ever so slightly. I would have expected a mad dash to sell dollars.

As long as carry-trade is up, there will be no crash. Tomorrow may even be an up day.


FINANCIAL MELTDOWN!!!! cancelled.
 
Quote from The Kin:

Anyways, the very first forex trades are tinkling in. Carry-trade is up and Euro is down ever so slightly. I would have expected a mad dash to sell dollars.

As long as carry-trade is up, there will be no crash. Tomorrow may even be an up day.


FINANCIAL MELTDOWN!!!! cancelled.
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Indeed. The EURO opened down 10 pips from 1.5586 to 1.5575

WE'RE ALL CLEAR!! *PHEW* :D
 
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