light at the end of the economic tunnel? - GoFuckYourself.com

borked · 06-09-2009, 10:56 AM

http://news.bbc.co.uk/2/hi/business/8091689.stm

Quote:

Ten of the largest US banks will be able to repay $68bn in government bail-out money, the US Treasury says, a sign the financial crisis is easing.

There are some caveats toward the end of that report, but at least it means the banks concerned are confident they can make enough profit to pay off their debts right? I know my bank that I invested in when it hit rock bottom at 22? a share (invested at ?25) is nearly back to it's pre-August price of 73?, and this is a bank in Europe that got hit damn hard because of trading scandals, economic downturn etc.

12 months from now, we're back to September 2008?

Things have got to be turning.... I put in 10k? back in September (a few threads in GFY about it, with lots of "you're dumb shit etc), and already it's yielded 5k? in cashed in stocks and the rest are net +3k. ALL the stocks were "high risk/hardest hit by the economy", and only 1 (Arcelormittal) is showing a loss, but any day now it will break to a profit.

Tjeezers · 06-09-2009, 11:10 AM

So banks pay the bail out back, and they dont use the money what it was for, stimulating economies. So, in short words, nothing really changes as long the banks are not acting like they should.

pornguy · 06-09-2009, 11:33 AM

Quote:

Originally Posted by Sex2Have

So banks pay the bail out back, and they dont use the money what it was for, stimulating economies. So, in short words, nothing really changes as long the banks are not acting like they should.

That money was to make sure that Obama's friends that run the banks and big businesses would not lose their homes, boats and what ever.

No accountability so no worries.

mpahlca · 06-09-2009, 11:36 AM

http://www.businessinsider.com/chart...l-input-2009-6 try reading this.

Agent 488 · 06-09-2009, 11:43 AM

yeah. take a look at every economic indicator around the world. off the cliff. have to separate the hype of the business press from the real stats.

borked · 06-09-2009, 02:01 PM

Quote:

Originally Posted by mpahlca

http://www.businessinsider.com/chart...l-input-2009-6 try reading this.

are you kidding me??? I'm looking at a graph where the ordinate is a generic value to which anything could have been manipulated in the data to fit the plots... on top of that, the today's data doesn't even cover a quarter of the time period....

I tried reading it, but there weren't many sentences there

borked · 06-09-2009, 02:04 PM

Quote:

Originally Posted by Sex2Have

So banks pay the bail out back, and they dont use the money what it was for, stimulating economies. So, in short words, nothing really changes as long the banks are not acting like they should.

this is the caveat - one side of the coins says they're getting investment enough to be confident to pay off, the other says they are paying it off to look good, but in reality they are doing it to not be at the whip of the govt.

$5 submissions · 06-09-2009, 02:10 PM

There won't be no real turnaround until the housing market, commercial real estate, and commercial lending bounce back convincingly.

marketsmart · 06-09-2009, 02:15 PM

the banks dont want the fed bossing them around.. what saved the banks was the fed decision to let them wipe toxic assets (mortgages) off the books. if the banks took the losses last quarter, they would have all not reported profit.

what you really need to keep an eye on now is hyperinflation, unemployment numbers, and housing values.

the economy is no where near out of the woods its just the same old smoke and mirrors from the govt and corporate america...

borked · 06-09-2009, 02:20 PM

Quote:

Originally Posted by marketsmart

the economy is no where near out of the woods its just the same old smoke and mirrors from the govt and corporate america...

I never said anywhere near out of the woods - the markets are driven by confidence....

an economic turnaround doesn't mean we're all going to be fine and dandy next month, it just means it's bottomed out - that's all I was asking

Agent 488 · 06-09-2009, 02:21 PM

yeah they loosened accounting rules. if they didn't the banks would have shown massive losses. i really don't know who the government and banks think they are fooling with this shit. maybe the people at denny's, but they can't even read what their kid scribbled on the place mat let alone the new york times.

Socks · 06-09-2009, 02:32 PM

Another scary article from today here:

The next great crisis: America's debt

http://money.cnn.com/2009/06/05/reti...ion=2009060914

V_RocKs · 06-09-2009, 02:58 PM

Banks don't like paying high interest. They like charging it instead.

V_RocKs · 06-09-2009, 03:07 PM

Quote:

Originally Posted by Socks

Another scary article from today here:

The next great crisis: America's debt

http://money.cnn.com/2009/06/05/reti...ion=2009060914

To address that:

Rome fell for this very reason.

Rome became a large empire, as well as an extravagant one, by taking over its neighbors. The newly conquered were pillaged for their wealth and force into slave labor like conditions. Those that were nomadic were forced to become farmers to grow crops for Rome.

Eventually Rome took over just about everyone they could that had money. Having spent everything Rome became bankrupt and the army could no longer be paid. Companies (of soldiers) banded together to become armies of their own and began taking what is needed from fellow Romans. This left Rome vulnerable to outside attack and led to their slaves becoming formidable armies.

America has a state called California. It is the 8th largest economy in the world. California's economy is the size of Italy's economy!

California is currently running over 20 billion dollars behind. The USA federal gov't is having similar problems. Extend this kind of spending out 10 years and you can see Asian countries banding together to fuck America over.

Remember, China and the Middle East are as bad as Hitler. They want to take over the world. They don't buy into all of this respecting borders stuff or the United Nations. In fact, they use the UN against itself like a lawyer uses loop holes to get a client off.

No problem for me though... I don't mind moving to Canada or some other nation when the shit hits the fan. I live on the Internet ;)

Of course if the above nations or regions take over the Internet porn is fucked.

Ronzo · 06-09-2009, 06:14 PM

Quote:

Originally Posted by marketsmart

the economy is no where near out of the woods its just the same old smoke and mirrors from the govt and corporate america...

Exactly right. What's currently happening just in the US auto industry alone will have serious impact not yet felt. By the end of the Summer... between Chrysler and GM... almost 2,000 dealerships will be closed. That's unprecedented. Everyone of those closings presents all sorts of problems for the communities in which they reside ranging from raising unemployment to depreciating real estate values. No, we're a long way off from even getting a glimpse of the bottom of this downturn.

IllTestYourGirls · 06-09-2009, 06:24 PM

The real story is that Tim Geitner thinks he does not have to give the money back to congress to pay off the debt that is dictated by law. He is keeping it to give to whomever he wants.

$5 submissions · 06-09-2009, 06:32 PM

One key clue to the world's confidence in the dollar and Washington's recent economic policies is the price of oil. Once it gets over $100 per barrel, commodities will start rocking up. The hyperinflation will make Argentina's meltdown in the early 2000s looks like a cakewalk.

Mutt · 06-09-2009, 06:52 PM

Quote:

Originally Posted by Socks

Another scary article from today here:

The next great crisis: America's debt

http://money.cnn.com/2009/06/05/reti...ion=2009060914

good article and it sounds like a VAT tax will be coming to the US - most countries have a national VAT tax, the US will have to do the same. as the article says there aren't enough rich people to raise that kind of money from higher tax rates on the rich.

06-09-2009, 11:10 AM	#2
Tjeezers Webmaster Industry Role: Join Date: Mar 2007 Location: BP4L - NL/RO Posts: 16,572	So banks pay the bail out back, and they dont use the money what it was for, stimulating economies. So, in short words, nothing really changes as long the banks are not acting like they should. __________________ Enroll in the SWAG Affiliate Asian Live Cam Program and get 9 free quality linkbacks from my network! Wanna see how old school I am? Look at this! All my Cam Review Sites are here!

06-09-2009, 11:36 AM	#4
mpahlca Confirmed User Industry Role: Join Date: Feb 2004 Location: Vancouver Posts: 1,821	http://www.businessinsider.com/chart...l-input-2009-6 try reading this. __________________ I could give two shits wether you read this sig or not.

06-09-2009, 02:10 PM	#8
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	There won't be no real turnaround until the housing market, commercial real estate, and commercial lending bounce back convincingly. __________________ 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

06-09-2009, 06:24 PM	#16
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	The real story is that Tim Geitner thinks he does not have to give the money back to congress to pay off the debt that is dictated by law. He is keeping it to give to whomever he wants. __________________

06-09-2009, 06:32 PM	#17
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	One key clue to the world's confidence in the dollar and Washington's recent economic policies is the price of oil. Once it gets over $100 per barrel, commodities will start rocking up. The hyperinflation will make Argentina's meltdown in the early 2000s looks like a cakewalk. __________________ 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

06-09-2009, 11:43 AM	#5
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	yeah. take a look at every economic indicator around the world. off the cliff. have to separate the hype of the business press from the real stats.

06-09-2009, 02:15 PM	#9
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	the banks dont want the fed bossing them around.. what saved the banks was the fed decision to let them wipe toxic assets (mortgages) off the books. if the banks took the losses last quarter, they would have all not reported profit. what you really need to keep an eye on now is hyperinflation, unemployment numbers, and housing values. the economy is no where near out of the woods its just the same old smoke and mirrors from the govt and corporate america...

06-09-2009, 02:21 PM	#11
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	yeah they loosened accounting rules. if they didn't the banks would have shown massive losses. i really don't know who the government and banks think they are fooling with this shit. maybe the people at denny's, but they can't even read what their kid scribbled on the place mat let alone the new york times.

06-09-2009, 02:32 PM	#12
Socks Confirmed User Industry Role: Join Date: May 2002 Location: Toronto Posts: 8,475	Another scary article from today here: The next great crisis: America's debt http://money.cnn.com/2009/06/05/reti...ion=2009060914

06-09-2009, 02:58 PM	#13
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,409	Banks don't like paying high interest. They like charging it instead.