Citi news (Not good)

[GRG55]

Re: Citi news (Not good)

In among the small print of all the news accounts about the Citi rescue, the FT found a bit of interesting detail: "Citi and the US government made it clear that the Citi arrangement would be extended to other banks that pose risk to financial system stability, if need be."

B of A next?

http://www.247wallst.com/2008/11/does-bank-of-am.html

Seems Andrew Mellon almost had it right. Now it's "Nationalize banks, nationalize real estate, nationalize stocks, nationalize farmers. Screw labour.

The echo-chamber media jumped all over the Big Three auto execs for using their firm's private jets to take them to Washington. Fair game.

But does anyone here think that Vikram Pandit or any of Hank Paulson's other Wall Street pals have given up theirs?

[touchring]

Re: Citi news (Not good)

CITI ... Yep it is absurd ....

As to inflation ... could we have a situation where there is a dollar inflation outside of the US and a dollar deflation inside the is US? Would this answer the conundrum? Dollars will be worthless in the rest of the world while no one will have a job, have rediculous debt, and won't even attempt to buy anything beyond the neccessities. Imagine a BMW costing 5000 times yearly average earnings of s US citizen. Imagine OIL at $30 dollars but no one having the money to buy any. Foriegn tourists will visit the US like a third world country because it so cheap. They will cherry pick our college system starved for cash. We will have to pass foriegn land ownership rules. We will look like Mexico.

I wrote that, if this continues, the us will look like a developing country in less than a generation - http://itulip.com/forums/showthread.php?t=5034

While Asia is spending on infrastructure and development, the Fed is taking on even more debt to bailout wallstreet.