I'llspareyouhavingtoonceagainhavingtoreadmylong,torturedhistorylectureonthehorrorsoffiatcurrency,fractionalreservelending,centralbanking,securitizationandderivativessystem,whichunderpinsallofourtroubles.Rather,Iwillfocussolelyonthelastfouryears,fast-forwardtotoday.
Backinmid-2003,FreddieMacwasbustedfor“cookingthebooks”andmonkeyingaroundwiththebalancesheetandP&Ltoactually—believeitornot—...[阅读全文]
博文
(2007-08-10 22:24:49)
(2007-08-10 21:29:39)
FEDERALRESERVEStatisticalRelease
H.4.1
FactorsAffectingReserveBalancesofDepositoryInstitutionsand
ConditionStatementofFederalReserveBanks
August9,2007
1.FactorsAffectingReserveBalancesofDepositoryInstitutions
Millionsofdollars
Averagesofdailyfigures
ReserveBankcredit,relateditems,andWeekendedChangefromweekendedWednesday
reservebalancesofdepositoryinstitutio...[阅读全文]
(2007-08-10 19:25:43)
好文！析美国次级信贷市场的潜在风险(转贴)来源:bear888于07-08-1017:05:10[档案][博客] [旧帖][转至博客][给我悄悄话]
美国银行家的胃口永远难以满足,当大部分普通人的房地产按揭贷款资源开发殆尽后,他们又将眼光盯上了一些根本不合格的人。这就是美国600万贫困或信誉不好的穷人和新移民。
美国的按揭贷款市场大致可以分为三个层次:优质贷款市场(PrimeMarket)，“A[阅读全文]
(2007-08-10 18:38:28)
InthebeginningGodmademorons.Thatwasforpractice.
Thenhegotdowntotheseriousbusinessofmakingcentralbankers.
Theroleofacentralbankshouldbetoprotecttheintegracyofthecurrency.Increasingmoneysupplyattherateofeconomicgrowth.
Today'scentralbankersputtheirnosesineverythingrelatedtobusiness.Theygetcalled"Maestro"&getknighted.
Theyarepoliticalanimals&TVstars.Theyeatinfinere...[阅读全文]
Thenhegotdowntotheseriousbusinessofmakingcentralbankers.
Theroleofacentralbankshouldbetoprotecttheintegracyofthecurrency.Increasingmoneysupplyattherateofeconomicgrowth.
Today'scentralbankersputtheirnosesineverythingrelatedtobusiness.Theygetcalled"Maestro"&getknighted.
Theyarepoliticalanimals&TVstars.Theyeatinfinere...[阅读全文]
(2007-08-10 18:28:06)
BillFleckenstein,presidentofFleckensteinCapital,ahedgefundmanagerwhoisbettingagainstcredit-industrystocks,saidthemarketisgoingthroughacorrectioninwhichsecuritizedmortgagesthatfueledthehousingboomarebeingmarkedtotheirrealvalue."There'sgoingtobeashutdowninthehousingmarket.AndFannieMaeandFreddieMacarenotgoingtobeabletobailitout,norshouldthey,"Fleckensteinsaid."IfFannieMaeandFreddieorsomebodybailsoutt...[阅读全文]
(2007-08-10 11:12:07)
QuoteoftheWeek:Hedgefundsandprivate-equityfirmstodayarelikethedot-comsin2000:Askformoneyandyou'llgetit.Theybidupthepricesofeverything.Theamountofmoneyflowingisalmostoutofcontrol,andit'smakingeverythingovervalued.Aclientofminesaidit'slikethereare11,000planesintheskyandonly100goodpilots--anaccidentisboundtohappen.—RayDalioofBridgewaterAssociates,quotedinBarron's,May26th2007edition[阅读全文]
(2007-08-10 00:58:56)
天妒红颜啊，特殊的中国
·悠 哉·
这个世界就数我们中国最特殊。
因此，不适用世界通行的普通标准和规则。包括飞机失事的赔偿，中国人花同样的钱乘同一班飞机，失事了只被赔偿外国人的几分之一，还对保险公司谢天谢地！中国人的尊严已经够低贱的了，可是，老天爷的立场为什么[阅读全文]
(2007-08-10 00:26:24)
Thereare2purposesofaCentralBankasfaraslegitimatepurposes.Iwon'tgointotheillegitimatepurposes,whichthereisone,toallowbankerstoscrewusoutofasmuchpropertyastheycan.
Onepurposeisasareservevesselandtheotheristoputoutcirculatingmedium.Now,oneimpliestheother,thatthereservesbackthecirculatingmediumandtheCentralBankdoesn'tgiveoutthemediumwithoutgettinginreturnthereserveasset.Thereserveassetbearsinter...[阅读全文]
Onepurposeisasareservevesselandtheotheristoputoutcirculatingmedium.Now,oneimpliestheother,thatthereservesbackthecirculatingmediumandtheCentralBankdoesn'tgiveoutthemediumwithoutgettinginreturnthereserveasset.Thereserveassetbearsinter...[阅读全文]
(2007-08-09 23:54:25)
Crammer:"Iamfrightened"LimeJuice
NEW8/9/20071:07:45PM 3:47PMEDT
YouCanHeartheFearontheStreet--Andthat'swhat'sreallyscary.
Whenyouspeaktopeopleinbonds,youarehearingthreewordsthatyouareneversupposedtohear:"Iamfrightened."Nooneinthisbusinessiseversupposedtousethosewords.ButIamhearingthemallthetime.
Thecomplacencyisgone.Thef...[阅读全文]
(2007-08-09 23:45:48)
WorstScenariosofBearStockMarkets..
...arenoproblem. byPoorSoul
MorethanhalfofallAmericanscouldn'tgiveadamniftheDowwasat7,000,theS&Pat800andtheNasdaqat1,200.
Thatwon'timpacttheirlives.
ButtheBIGPROBLEMisnotwhatwillhappentothestockmarketsifthosemarketsceasebeingdisconnectedfromthegrimeconomicfundamentals.
DEBTistheissue.THEISSUE.
And,althoughwhatwillhappentothestockm...[阅读全文]
...arenoproblem. byPoorSoul
MorethanhalfofallAmericanscouldn'tgiveadamniftheDowwasat7,000,theS&Pat800andtheNasdaqat1,200.
Thatwon'timpacttheirlives.
ButtheBIGPROBLEMisnotwhatwillhappentothestockmarketsifthosemarketsceasebeingdisconnectedfromthegrimeconomicfundamentals.
DEBTistheissue.THEISSUE.
And,althoughwhatwillhappentothestockm...[阅读全文]
