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Thread: Not Sports Related But I Think That The Meltdown Has Commenced

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    Raptors Republic Veteran Buddahfan's Avatar
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    Default Not Sports Related But I Think That The Meltdown Has Commenced

    Greece is burning and financially collapsing. The rest of Europe except maybe Germany at this point is hanging by a slim thread.

    The NASDAQ, I don't follow the DJIA, is down over 100 today and right now down close to 10% for the week.

    I have a feeling it is going to get really ugly and make the fall of 2008 look like a cake walk.

    I hope that I am wrong.

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    Administrator Arsenalist's Avatar
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    That's why all my money is under my mattress.

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    Raptors Republic Veteran Buddahfan's Avatar
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    Quote Arsenalist wrote: View Post
    That's why all my money is under my mattress.
    Your mattress must be pretty lumpy

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    Pretty much a repeat of the great depression:

    Market crash.
    False recovery. Stocks rise.
    Everyone assumes the worst is over.
    Small country defaults on debt.
    Domino effect echoes around the world.

    Difference now is we have billions of dollars worth of 'quantatative easing' and prompt action, but we don't know for sure that Mr. Market isn't going to do what he has always done in the end...revert in whiplash-style to the mean.

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    Raptors Republic All-Star Hotshot's Avatar
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    The world will have to change of how it conducts business or its back to the cave robin!

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    Raptors Republic Starter James Ballswin (Realizar)'s Avatar
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    I wonder how Josh Childress is doing?

    So.. is Greece the new Albania?!?!

    And with everything that's happening, slouvaki stocks are surprisingly flat. (Opa!)
    Last edited by James Ballswin (Realizar); Thu May 6th, 2010 at 07:11 PM.

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    Raptors Republic Veteran Bendit's Avatar
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    Quote Arsenalist wrote: View Post
    That's why all my money is under my mattress.
    I hope that isnt true...entirely.

    The ultimate consequence if there is a meltdown will be hyper inflation which will metaphorically make the value of that cash into crud. I bet you gold went up today.

    Disclaimer: I wish I followed my own advice on financial matters in the past!

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    Raptors Republic Veteran Buddahfan's Avatar
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    Gold is now at $1,201.90 up about $4 on the day

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    Raptors Republic Rookie Paradigm Shift's Avatar
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    So what you're saying is that next year at this time Hedo's contract might look like a bargain?

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    Raptors Republic Veteran Buddahfan's Avatar
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    Man Who Predicted 2008 Financial Crisis Says Today's Sell-off Is 'Just The Next Stage'

    By Noel Sheppard
    Thu, 05/06/2010 - 20:49 ET

    The man who predicted the bursting of the housing bubble as well as 2008's economic collapse says that what happened in the markets around the world today is just the next stage in the financial crisis

    "The first stage was this massive re-leveraging of the private sector that led to the financial crisis and which has responded now with a massive re-leveraging of public sectors with budget deficits of the order of 10 percent," Nouriel Roubini aka Dr. Doom told CNBC's Maria Bartiromo.

    "So I think that the markets are realizing that we have socialized a lot of the private losses with unsustainable fiscal deficits."

    He believes the bond markets in parts of Europe seriously began realizing the depth of the problem today cautioning, "And soon enough they're going to wake up in the United States" (video follows with partial transcript and commentary):
    cont on link

    http://newsbusters.org/blogs/noel-sh...ust-next-stage
    Last edited by Buddahfan; Thu May 6th, 2010 at 11:55 PM.

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    Raptors Republic All-Star Hotshot's Avatar
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    How bad will Canada feel the pinch?!

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    Raptors Republic Veteran Buddahfan's Avatar
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    Default Moody's Cuts Greece Government Ratings to Junk

    Published: Monday, 14 Jun 2010 | 2:19 PM ET

    By: Reuters

    Moody's on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country.

    Moody's cut the government bond ratings of debt-laden Greece to Ba1 Monday, moving the debt one notch into junk status.
    The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable.

    Moody's [MCO 19.91 0.23 (+1.17%) ] also downgraded Greece's short-term issuer rating to not-prime from Prime-1.

    The rescue package "effectively eliminates any near-term risk of a liquidity-driven default and encourages the implementation of a credible, feasible, and incentive-compatible set of structural reforms, which have a high likelihood of stabilizing debt service requirements at manageable levels," said Moody's senior analyst Sarah Carlson.
    http://www.cnbc.com/id/37689484
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    “As a captain, I played furiously. I drew a lot of fouls, but I brought everything I had to every practice and to every game. I left everything on the court because I simply wanted the team to win”
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    Raptors Republic Starter James Ballswin (Realizar)'s Avatar
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    Bilderburg Group. Get to know.

    http://en.wikipedia.org/wiki/Bilderberg_Group

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