If you think the US housing crash was bad, wait till the global commodities crash - GoFuckYourself.com

$5 submissions · 04-25-2009, 02:32 PM

The same "perfect storm" that fucked the housing and credit market in the US is, according to Max Keiser-a wall street veteran and commentator, mutating and spreading to global commodities market. If that system blows up, expect the economic downturn to last much much longer.

Here's a video of Max Keiser explaining how this happened:

Some info on Max Keiser: http://en.wikipedia.org/wiki/Max_Keiser

NOTE: I don't particularly get excited about the neo-marxist vocabulary he uses, however he does have a point regarding the globalization of off the balance sheet/'shadow' accounting inherent in commodities backed securities. If this winds down like the mortgage backed securities of the past... it's going to be VERY rough.

Sami · 04-25-2009, 02:40 PM

Where has he been for the past year?

Commodities across the board tanked 70% or higher from their peaks.

If thats not a crash I am not sure what is!

$5 submissions · 04-25-2009, 02:44 PM

Quote:

Originally Posted by Sami

Where has he been for the past year?

Commodities across the board tanked 70% or higher from their peaks.

If thats not a crash I am not sure what is!

Apparently, that's just the beginning. Copper's recent spike and China's hoarding of it might have unforeseen circumstances based on what Keiser is saying.

slapass · 04-25-2009, 03:22 PM

With the huge price swing you don;t think it would have exposed over exposure to commodities?

04-25-2009, 02:32 PM	#1
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	If you think the US housing crash was bad, wait till the global commodities crash The same "perfect storm" that fucked the housing and credit market in the US is, according to Max Keiser-a wall street veteran and commentator, mutating and spreading to global commodities market. If that system blows up, expect the economic downturn to last much much longer. Here's a video of Max Keiser explaining how this happened: Some info on Max Keiser: http://en.wikipedia.org/wiki/Max_Keiser NOTE: I don't particularly get excited about the neo-marxist vocabulary he uses, however he does have a point regarding the globalization of off the balance sheet/'shadow' accounting inherent in commodities backed securities. If this winds down like the mortgage backed securities of the past... it's going to be VERY rough. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

04-25-2009, 02:40 PM	#2
Sami Confirmed User Join Date: Mar 2004 Posts: 2,047	Where has he been for the past year? Commodities across the board tanked 70% or higher from their peaks. If thats not a crash I am not sure what is! __________________ ServerProvider.com ICQ#: 311-848-143

04-25-2009, 03:22 PM	#4
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	With the huge price swing you don;t think it would have exposed over exposure to commodities?