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| User Info | David Walker = FAIL in forum [Ticker] | |||
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Genesis Posts: 71426 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/718-Da....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-01-08 13:44:47
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Weezie Posts: 3601 Incept: 2008-05-19 
Obama's personal message to the American people...
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沒有 "No More" ---------- ---------------------------- Do not write below this line.
2009-01-08 13:53:15
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Stonedog Posts: 1105 Incept: 2008-05-29
New Jersey
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OMG KD- 4 tickers in one day!!!!Quote:Walker is right in that we must fix entitlements. Where he's wrong is that he, like all of the other pigmen, refuses to admit in public that the math is clear - we cannot recover in the economy until the debt to GDP ratio is reduced, and there is only ONE way to make that happen as we have reached the point where the exponentially-increasing debt load is constraining GDP faster than we can grow it through technology and other productivity improvements. This process can ONLY be halted by defaulting the excessive debt. Karl - I agree with your position - 100%. And I have seen the movie IOUSA. But I wonder if he might truly, but erroneously, believe that this is the right thing to do. I mean folks are entitled to their opinions, right? Just asking... EDIT: Just to make it a little clearer - Walker has done a great service in at LEAST trying to bring this to the public's attention. In light of this credibility, I just find it hard to characterize him as a pigman. No offense Karl. ---------- "F**k CNBS, CONgress, Obama, the Democrats, the Republicans, the ratings agencies, the Banksters, the Fed, the FASB, all the government regulatory agencies, the Trilateral Commission, the Council of Foreign Relations, the G whatever, the UN, and any other bastard or big corporate interest that has a fingerprint on this Last modified:
2009-01-08 14:06:00 by stonedog
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Tat668 Posts: 1700 Incept: 2007-09-09
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Thanx Karl for the stats
---------- "Patience grasshoppers.... but your time to eat the bugs is coming......."- KD 9-1-2009 "This marks the beginning of the end."- Barack Obama 2-26-09
2009-01-08 13:57:39
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Stockmonger Posts: 2159 Incept: 2007-06-28 Orange County
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I would argue that, rather than creating 10 new politicized entities, let the surviving thousands of banks that didn't participate in the CDS fraud buy the assets from the liquidated corpses of the blown up banks. This will have some very desirable anti-trust effects in addition to addressing the basic solvency problem. 5,000 small banks will allocate capital more efficiently than 10 son-of-Citis. If that $350B is burning a hole in your pocket, offer matching deposits to any banks who are solvent after mark-to-market with sufficient audited capital ratios. We should be resisting calls to "consolidate" the financial services industry--that's part of what got us here. It should be blown to bits and let the competitive market put the pieces back together. ---------- occasionally I do like to see the other viewpoints of people not in my camp of theory, but I generally find it to be a waste of time. - Bear
2009-01-08 13:57:42
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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I maintain that we need the backstop - I don't know how many of the existing banks out there really are clean. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-01-08 13:58:50
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Igorsway Posts: 731 Incept: 2007-12-11
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This ticker I like
2009-01-08 13:59:36
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Shortqqq Posts: 314 Incept: 2007-07-20
las vegas
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18% is Bu Hau!!!
2009-01-08 14:01:27
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Mm^^ Posts: 2330 Incept: 2008-10-01 
Gone, Baby, Gone
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Bilge
---------- I always leave cookies. Last modified:
2009-01-08 14:33:32 by mm^^
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Samadams Posts: 357 Incept: 2008-12-03
San Antonio, TX
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I agree with Stockmonger - the problem we have is that too much capital and too many loans were tied up in too few banks. Result: "Too big to fail." Well, **** that. That means they own us...as has been shown, with the politicians falling all over themselves to spend our money (and our children's and their childrens') to pay the pigmen for ****ing up. There is definitely a need for big banks - but if a bunch of small banks had imploded over the course of the past year no one would have noticed much except to say "hey, maybe we need to do something about this." More small banks means more people on the BoD's, hence maybe a bit more common sense - ESPECIALLY if they are small enough that the FDIC or the Fed can say, "hey, morons, you screwed the pooch with your loose lending practices, we're closing you down." None of which, of course, fixes anything right now. KD is right on the prescription, which'll make us sick. But better to puke a bit than to end up in ICU or the morgue, as is our current path of not doing a ****ing thing to address the REAL problem of too much debt. One good thing may result from all of this: the death of Keynsian "economics" (really a fraud, since politicians up for election NEVER have the discipline to resist spending in times of plenty, even if they are naturally inclined in that direction). The whole system is a set-up for spending like a drunken ******* because "in the long run we're all dead." ****ing imbecile, he didn't care, he never had kids. Well, most of the rest of us DO, so we give a **** about the future. Dumbass politicians of the time, and since, didn't realize that...but since they have the attitude of "I've got mine" maybe they don't give a ****, even if they DO understand. Of course, before Lord Keynes' fraudulent theory dies, it has one last gasp under Obambi - this one a very, very large Keynsian prescription of the purest crack. If people don't demand it, and if the Congresscritters don't listen, we are screwed. Transparency and education. Without that, we end up like Mexico: corrupt and too stupid to know it or do anything about it. Last modified:
2009-01-08 14:15:19 by samadams
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Karefree Posts: 1637 Incept: 2008-10-15
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wow - this from the guy that said the US was on a "burning platform" of unsustainable spending. I guess this shows how much your perspective can change when you move from being a government employee to the president of a very rich (and private) foundation.
2009-01-08 14:15:05
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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**** him and Buffett too; told you they were both douchebags. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me Last modified:
2009-01-08 14:16:22 by genesis
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Gmak Posts: 10176 Incept: 2007-07-27
Re-inventing the future at the speed of time.
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Mm^^: Compared to 12.7% in December.
2009-01-08 14:16:24
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Taint Posts: 165 Incept: 2008-12-24 texas
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Errr....outsiders hold more than 30 percent of treasury debt, right? Current subscriptions less than that are telling. Nonetheless, the auction was a success and ultimately fully subscribed?
2009-01-08 14:22:08
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Phif Posts: 172 Incept: 2008-08-06 Atlanta. Ga
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David Walker was one of the few in Fed Gov that was telling the truth regarding our debt noose. When he left and went to work for Pete Peterson he became a Pigman. Did he do it because he believed he could effect positive change, or did he sell out, or was he corrupted? Pete Peterson is an elitist One Worlder,Chairman CFR, buddy of David Rockefeller and Henry Kissinger AND Chairman of Blackstone Group. Chairman New York Fed from 2000-2004(the only Fed that matters)when the leverage and crimes on Wall Street really got rolling. Last modified:
2009-01-08 14:42:46 by phif
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Taint Posts: 165 Incept: 2008-12-24 texas
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Looking at the auction results, it appears the auction was over subscribed 2.6:1...am I missing something? Appears the auction was very successful.
2009-01-08 14:26:34
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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Prime Dealers took them down and with good cause - they're playing circle jerk with Fed Credit. The problem is that this "success" is illusory, as it does not create cash flow. It is a brash attempt to transfer all the money to the pigbanks, but it fails when the foreigners refuse to buy and REAL MONEY is needed in the economy. Where's it going to come from? ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-01-08 14:28:14
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Mm^^ Posts: 2330 Incept: 2008-10-01
Gone, Baby, Gone
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Thanks, Gmak. I should have checked before I posted. I'm going to look up the yield. (and bilge my post).
---------- I always leave cookies.
2009-01-08 14:32:20
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Taint Posts: 165 Incept: 2008-12-24 texas
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hmmmmm, fed loans free money to "prime dealers" or banks, banks buy treasuries, treasury funds govt. I see the circle jerk....I'm just happy to be in there somewhere!!!
2009-01-08 14:39:35
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Weezie Posts: 3601 Incept: 2008-05-19
Obama's personal message to the American people...
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Unfortunately, Taint, we're the ones with the buckets and mops.
---------- ---------------------------- Do not write below this line.
2009-01-08 14:41:23
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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Think about what happens when the ROW figures out that the government is basically issuing PIK bonds.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-01-08 14:42:19
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Lugnut Posts: 187 Incept: 2008-09-24
New Jersey
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Quote:A disorderly event of this sort, as opposed to "lock 'em up Danno and be prepared with newly-capitalized banks to replace the boomed ones" will almost certainly result in a Treasury Market dislocation that immediately translates into the short-term corporate market. As a newb and an idiot, I would like a more drilled down cause and effect explanation of this, if anyone is willing. Clarification: With respect to one of the FHLB banks being seized being the proximate cause of the bond market dislocation.....
2009-01-08 14:50:16
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Curbyourrisk Posts: 1891 Incept: 2008-08-19 Long Island, New York Online
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Quote:Think about what happens when the ROW figures out that the government is basically issuing PIK bonds. Please see my signature. PIK bonds are the death of everyone!!!!!!! We have refused credit for the last 6 companies coming here looking for credit that we see this crap on their books. No matter how BIG they are, how profitable they are....They will all die the same way in the end. ---------- Hopium: hope filled delirium preached by the White House and Swallowed whole by the American Sheeple. Why is Franklin Raines a free man? "We saved the world from disaster" - Ben Bernanke - Jackson Hole 08/21/2009  Last modified:
2009-01-08 14:56:22 by curbyourrisk
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Curbyourrisk Posts: 1891 Incept: 2008-08-19 Long Island, New York Online
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It's all pure Money Laundering!!!!!!!! The TARP is a fraud.
---------- Hopium: hope filled delirium preached by the White House and Swallowed whole by the American Sheeple. Why is Franklin Raines a free man? "We saved the world from disaster" - Ben Bernanke - Jackson Hole 08/21/2009
2009-01-08 14:56:55
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Starcade Posts: 83 Incept: 2008-12-31 Riverside, CA
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One has to understand how correct Karl is to understand how truly ****ed we are. 1) Jail the Fraudsters. Goodbye to the entire United States Government, including Obama on down. You have, MAYBE, a handful of representatives and a Senator or two at that point. Once you jail the fraudsters, including those in the government, you find out just how much back-dealing has really been going on with our lives in the balance. Then how do you reconstitute a government at that point? 2) Remove all the Overseers. See #1, and it happens then, because all the overseers are similar fraudsters, or this never would've happened -- as Karl has noted. The overseers fall under #1. 3) Default all the bad debt. The only question is whether any bank (Hell, any business or company at all) in America survives it. This is where our disagreement vis-a-vis the usefulness (or, in Karl's opinion, uselessness) of the notational values of the bad derivative bets comes into play. He's right: The amount of stuff already written off would destroy Western finance. I think the point I'm trying to make is: Western finance HAS BEEN DESTROYED. If you take a look at just the first three points of what Karl says must be done, you get an idea of how EVERYTHING IS BASED ON FRAUD. _EVERYTHING_. When you get that idea, you begin to understand how truly ****ed we are. 4) Set up new banks. With what currency (if we even have a nation after #1, the dollar will be forever discredited (as it probably should be!!)? With what government (see #1)?? With what backing?? Karl, I understand what you are trying to say -- I guess our main difference is that you believe that there is still a (very short) time-frame in which to save this. I don't. And even if you are right, what, short of some form of a violent protest, is going to wake the motherf***ers up enough to do what is necessary??
2009-01-08 15:05:05
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