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Re: Is THIS REAL TROUBLE?
Peter S will know ;)
Mega
Peter S will know ;)
Mega
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Re: Is THIS REAL TROUBLE?
I bet EJ does as well ;))
MegaComment
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Re: Is THIS REAL TROUBLE?
Thanks for the search Sapiens.
I was out spending some rapidly shrinking B0nars on food at Costco before they shrank right out of my pocket. Remember grocery bills back in the "good old days"?
It's funny, they don't seem to go as far as they used to (?) - but "it's all good" as they say in sunny Southern California - spending shrinking b0nars at the grocery store is a cool new way to go on a diet!
I've got a picture of Eric Idle stuck in my head, enigmatically singing "always look on the bright side of life" while nailed up on a crucifix in the closing frames of Monty Python's "Life of Brian". It keeps looping round and round, like the canned music on one of those summertime ice cream trucks that circle suburban neighborhoods for hours on hot August sundays?
No way out except forward, into the unholy mess the Fed has so brilliantly manufactured for us.
http://www.youtube.com/watch?v=1loyjm4SOa0Comment
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Re: Is THIS REAL TROUBLE?
Been watching that Crammer Bloke on "the Street . com"
He thinks everything is great and even if EVER subprime loan goes bad "So what".
MegaComment
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Re: Is THIS REAL TROUBLE?
My take is that the $1.2 trillion called "Securitized real estate loans", aka MBS instruments, opens the door wider to allow the Fed to directly purchase them in a support operation... should there be a derivatives blow up.
They already purchase TBills, TBonds and TIPS which are all securities.
Also note that the Fed can purchase, by law on the books for many decades, banker's "acceptances" which are roughly defined as "A formal indication by a debtor of willingness to pay a time draft or bill of exchange."Comment
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