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Genesis Posts: 66463 Incept: 2007-06-26 
Royal Flush! 
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http://market-ticker.denninger.net/archi....
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-10-09 09:08:24
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Waverider Posts: 2666 Incept: 2007-12-23 Chicago Online
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Great ticker KD "Except in one place - here in the US! Plans to standardize CDS contracts and force them onto an exchange are actually under way. This is a major positive move " So there is a hope. Do you have a link to the PR/article ? 2008-10-09 09:20:44
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Yaldor Posts: 1309 Incept: 2008-05-17
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Karl, One of your best tickers !! you rock man ! ---------- For every crash the probability of someone showing that he predicted it is near 1 . For every prediction of an imminent crash the probability of it being correct is almost zero 2008-10-09 09:25:22
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Mvo Posts: 493 Incept: 2007-06-27 
NYC
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Karl, your decline number of the RTSI is a bit off. A YTD decline from ~2300 to 761 (yesterday low) is about 66%, not 87%. Last modified:
2008-10-09 09:28:15 by mvo
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Rate_babe Posts: 359 Incept: 2007-08-03
Ga
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Lehman CDS settling Thursday or Friday? Had been reported as Thursday I thought, but now seeing a Reuters report saying Friday? http://www.tickerforum.org/cgi-ticker/ak.... 7th paragraph...traveling as an America...needs an "n" = "American". Great explanation, as always. Thank you for all you do. 2008-10-09 09:42:01
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Sharon Posts: 1495 Incept: 2008-02-10 Online
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Karl, as far as I know, there is NO ONE other than you doing this kind of commentary and analysis. I would say that I've learned more about finance from this site in a few months than in the whole rest of my life put together--except that wouldn't be saying much. 2008-10-09 09:50:17
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P9939068 Posts: 121 Incept: 2008-10-04
Singapore Sling
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A sign of things to come as US debt climbs: http://www.boston.com/news/nation/articl.... ---------- Get your head outta there, CON-gress! 2008-10-09 10:43:41
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Jnojr Posts: 433 Incept: 2008-09-18
San Diego, CA.
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Quote:Lehman CDS settling Thursday or Friday? Friday Oct 10 IIRC 2008-10-09 11:39:51
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Guydaley Posts: 10361 Incept: 2007-07-10
Missouri & Wyoming
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I haven't commented on the ticker in some time. Of course I read them religiously. I think you deserve, Educator of the Year Karl. You're a Champion for raising the veil of ignorance. I hope to clink beer glasses with you some day. (Now, if we can only raise the veil of ignorance that our congresstraitors are wearing, there might be some light at the end of the tunnel.) ---------- 2/17/09 = Hogzilla bill was signed = THE POINT OF NO RETURN = Cheers to the Reset, LONG LIVE THE UNDERGROUND ECONOMY! STARVE the BEAST! Adopt a J6P. Last modified:
2008-10-09 11:59:40 by guydaley
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Ignorantsavage Posts: 81 Incept: 2007-11-27 
USA
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Perhaps this was already covered by "Credit markets always close to those who are lying": are credit markets on the whole still functioning at near-normal levels? Robert Higgs wrote a short piece stating that the Fed's own numbers on the commercial paper market show outstanding balances down 13% from March '08, when "everything was fine". (Perhaps 13% is a very significant figure and cause for commotion, but that doesn't come anywhere close to my personal definition of "frozen", which would imply "next to no activity".) Here's the URI in question: http://www.lewrockwell.com/higgs/higgs91.... At the moment, I'm presuming that this talk of frozen credit markets is just the latest in the long string of lies being told by Paulson/Bernanke with the goal of, at the very least, stealing our hard-earned money. Last modified:
2008-10-09 12:26:03 by ignorantsavage
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Financial and ABCP is indeed frozen. However, it should be frozen as none of these firms can be fairly valued off their balance sheets. Would you make an unsecured loan to someone when you had no confidence in their ability to pay you back? ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-10-09 12:24:50
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Ignorantsavage Posts: 81 Incept: 2007-11-27
USA
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No, I would not make an unsecured loan to someone in whom I had no confidence in. I agree with your assessment that the liars and their lying balance sheets are causing the liars much pain, some of which is affecting the rest of us. For the past day or three, I've been blasted by news of doom and horror, all blamed on the "frozen credit markets". However, with the overall CP markets down 13%, as Higgs claims, does this constitute a "frozen credit market" for those who are not financial firms or loaded down with ABCP? If not, then the implied holistically frozen CP market claim seems to be, at best, misleading if not another outright lie. Last modified:
2008-10-09 12:39:39 by ignorantsavage
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Its frozen for those companies that are potential liars. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-10-09 12:56:28
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Steved Posts: 542 Incept: 2007-10-30
chicago
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Great ticker. thanks KD. Crash gear installed. Earnings are going to be awful, as there is no value as equities markets only feed on growth. No bargains really exist here, even though prices are much lower, except maybe for McDonalds which will be busy selling happy meals to middle america. Maybe we're in the 4th inning here, but did anyone look at the schedule, we're playing a double header here. Thanks for all the hard work KD. Donated again to the forum.
2008-10-09 13:03:23
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Dazed Posts: 13 Incept: 2008-06-29 South Fla
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Another great Ticker Karl. I don't post much for no other reason than my 'stupidty' would show before the first sentence is finished. So I'll just hang out, and learn from the brilliant folks here. 2008-10-09 13:35:44
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Xfgaez Posts: 16 Incept: 2008-06-02
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Genesis, I feel sorry for your pain. You see it so clearly but nobody will listen. I mean that seriously. Markets often do not go to the level they are supposed to go because **** heads get in the way for self intent and therefore cause the market to act in an unnatural state. This market was supposed to cleans itself since 1998. Since the masters of the universe said differently for the past 10 years the market is so ****ed off it looks like it will damage not only capital structure but it will slowly infect are political system. You tried very very hard Genesis but the markets revenge has made you silent to the ears of the masters of the universe. The masters ****ed it up so good that they felt they were equally skilled in fixing it. As you have pointed out the last person you want fixing things are those who **** it up. The market wanted revenge on those who ****ed it up and it got its revenge. You must now get yourself situated in a position to restructure the mess. I am talking about one that works within the forces of the market. Please take time out to use your talents to help the nation from becoming irrational to the point of total chaos. Then again there might be the same kind of forces at work within our political system. This might be a lost cause. Once again the market always goes to the level it is intended. Flat liner or not what I do sense is that the change of the political system will make this sell off look tame if thinkers like yourself and others are not involved with our political unravel. If the system is going to change I believe you will help the change take place for the better. You were and are trying to implement ideas which could have fix things but as I said before the market is way ahead of you. Your fixes may no longer be what the future can use. I still believe in them but they were there to help stop the bleeding. This wound is deeply cut so your fixes may help a little but I think you must move on. The market broke and needs future ideas to function under a different kind of system. All of which need to incorporate some of the old ways but new ones needs to be thought up. Rich 2008-10-09 16:29:47
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Torgsinsdepot Posts: 75 Incept: 2008-09-28 Banned
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"This is a major positive move and fulfills one of the three prongs of my view of how to solve this problem," The other two being...? which should be done by whom? And Thank You Genesis for so much great advise. 2008-10-09 16:57:03
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Vacanthomes Posts: 12 Incept: 2008-07-07 Detroit, MI
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Holy Jesus, yet another day of carnage in the equity markets. The DOW is now down over 2000 from where it was when the bailout passed, less than 5 days ago. I always got a chuckle reading Genesis' tickers when he talked about the "short-bus equity holders" in this market, and I knew it was going to crash at some point (and I am very short the market and making a ton of money), but it's still shocking to see it happen. I really thought Paulson & Co were going to be able to postpone the carnage until after the election. 2008-10-09 17:23:25
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Seberbach Posts: 79 Incept: 2007-10-25
Ann Arbor, Mi.
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There is an old saying when someone confronts a liar: "The cat got your tongue?" (Ummm....) Instead of saying the "credit markets froze" our leaders should be saying "The cat got your money?" Put it where your mouth is. Re: The major positive move: Perhaps a letter campaign or petition effort for all instruments on regulated transparent exchange would reinforce this still potentially hollow promise. If Congress could be pushed into throwing this reform out as a bone to the American people (The whole world might applaud it, and even TPTB might support it), it would be a great first step toward accomplishing the harder two parts of the program. It would be the best choice for the first "flank" to attack in a constructive way. 2008-10-09 18:06:28
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Themortgagedude Posts: 3343 Incept: 2007-12-17
saint louis
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Hey back to work Gen. This was a 2 ticker day. Well if I can't get a ticker I'll just watch the video. This should be gooooooooooooooood.
---------- Since September it's just gotten colder and colder. There's less daylight now, I've noticed too. This can only mean one thing - the sun is going out. In a few more months the Earth will be a dark and lifeless ball of ice. 2008-10-09 20:06:05
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Themortgagedude Posts: 3343 Incept: 2007-12-17
saint louis
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No video either. What's up Gen? Ya get so much wood today ya passed out.
---------- Since September it's just gotten colder and colder. There's less daylight now, I've noticed too. This can only mean one thing - the sun is going out. In a few more months the Earth will be a dark and lifeless ball of ice. 2008-10-09 22:53:01
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Jstanley01 Posts: 2332 Incept: 2008-07-30
San Antonio, Texas
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I'm faxing a copy of this to my representative and senators, and urging them to push for a special session to REPEAL THE BAILOUT. ---------- Come on. It's just a ****ing casino. The markets have nothing to do with reality most of the times.. until they suddenly do... -- Peezdets 2008-10-10 00:34:20
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