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| The Scuppers This is a new forum for the not necessarily fishing related topics... |
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10-09-2008, 06:31 PM
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#1
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,463
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Good you're into CD ladders, I think that's a smart move for anyone who can't tolerate more risk.
-spence
Last edited by spence; 10-09-2008 at 06:49 PM..
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10-09-2008, 08:02 PM
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#2
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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Quote:
Originally Posted by spence
Good you're into CD ladders, I think that's a smart move for anyone who can't tolerate more risk.
-spence
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spence,
1. you're not getting any real return after inflation, the true handle of which is 9% or more.
2. your money is tied up with a bank that might go belly-up. not because of sub-prime, but because of global illiquidity and panic runs on the deposit base.
3. the FDIC deposit insurance reserves (~$55 billion) are being rapidly depleted as we speak. indy mac's failure alone was originally supposed to cost $4-$6 billion of reserve money, that figure has shot up to $9 billion (might even be more). just for one thrift. there are others that are blowing up and require attention.
4. the recently passed TARP act increased FDIC deposit insurance. but banks aren't paying increased contributions to the FDIC insurance reserve. this will aggravate #3.
the safest asset right now is the hardest of the hard assets. physical gold, preferably stored safely outside of the u.s. |
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10-09-2008, 08:05 PM
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#3
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BigFish Bait Co.
Join Date: Apr 2003
Location: Hanover
Posts: 23,392
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Why do I sense this is just the tip of the ice berg??? Recession??? If this ain't one......I don't want to see one! Depression???? Oh boy!  |
Almost time to get our fish on!!! 
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10-09-2008, 08:08 PM
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#4
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,692
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what do you mean ' recession bigfish? this country has been in a recession for years. A false economy was created to hide the recession. Now we face the wake up call..
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10-09-2008, 08:27 PM
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#5
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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"false economy" = consumer consumption fueled by easy money ... and sharply higher gov't spending.
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10-09-2008, 08:29 PM
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#6
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,692
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greenspan  |
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10-09-2008, 08:31 PM
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#7
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BigFish Bait Co.
Join Date: Apr 2003
Location: Hanover
Posts: 23,392
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Thats my point...they keep saying we are not nor have been in a recession.....what a joke!  |
Almost time to get our fish on!!!
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10-09-2008, 09:40 PM
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#8
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Great White Scup Hunter
Join Date: Nov 2006
Location: In the Corner...
Posts: 2,251
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Quote:
Originally Posted by Nebe
greenspan |
He is a major investor in GOLD,,,,
The only reason I did CD's was because of how I felt about the market.. As far as my bank... They say they are ok,,, 
When I am in South Africa next month I will pick up some south african krugerrands
Last edited by GattaFish; 10-09-2008 at 09:46 PM..
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10-10-2008, 02:24 AM
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#9
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,463
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Quote:
Originally Posted by fishpoopoo
spence,
1. you're not getting any real return after inflation, the true handle of which is 9% or more.
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Probably true, but I'm certainly not out to maxamize my return but keep things simple. I agree there's a chance banks could flounder, but I'm hoping for the best.
-spence |
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10-10-2008, 07:23 AM
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#10
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Permanently Disconnected
Join Date: Nov 2002
Posts: 12,647
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hang onto your hats it's gonna be another rough day
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10-10-2008, 07:25 AM
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#11
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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Quote:
Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
hang onto your hats it's gonna be another rough day
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futures are taking back lost ground...
s&p 500 index futures were down something like 30 points an hour ago, now they're only down 18 points. hell, in this environment, that's a rally.  |
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10-10-2008, 08:03 AM
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#12
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Great White Scup Hunter
Join Date: Nov 2006
Location: In the Corner...
Posts: 2,251
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Quote:
Originally Posted by fishpoopoo
futures are taking back lost ground...
s&p 500 index futures were down something like 30 points an hour ago, now they're only down 18 points. hell, in this environment, that's a rally. |
Looks like we are in for another shellacing ....  I also don't think there is any way in hell there will be any buying heading into the weekend either |
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