World economy talk

[badsekktor]

wag ka muna bumili

hintay lang

sigurado magbababa ng presyo ang mga appliance center

kahit anong brand

hehehe! sige wait muna ako! mas gusto ko yun samsung eh! for sure bababa naman yan next year.

BREAKING NEWS: White House and Congress finally agree on a $15B bailout for the auto industry.

http://www.bloomberg.com/apps/news?p...WoM&refer=home

Why am I not surprised at all? Pa-pogi lang yung mga senators trying to sound like a hero by berating the BIG 3 CEO's pero sa huli bailout din pala Hay nako another bandage solution for a cancer like problem...

buti na lang di ako amerkano..... sa tax na naman kukunin yan.... tsk!

i've watched sa show na talkback that by next year may proposed bailout fund na din yata para sa phil govt. 100 billion pesos if im not mistaken.... 50 % will come from the govt and the other 50 from private.... kelangan ba talaga natin gayahin ang mga amerkano???

[tidus1203]

Hehehehe nope not present day tax. More like future taxes hehehehe. The US gov't does not have the balls to tell its people that they should have HIGHER TAXES and LOWER BENEFITS like Social Security to pay off the excesses they had in the past where the Americans where living the high life while the rest of the world live below their means so they could save up and lend it to the Americans. That would be a political suicide, but then again as always politics trumps economics. So where did they get the money? 2 ways its either they ask China (their banker ) for a loan or they will sell a 10 year paper to the Federal Reserve which has the authority to print money

[uls]

^^^

matindi kasi entitlement mentality ng mga Kano

spoiled sila eh

mahirap na baguhin yan

[tidus1203]

Yep I know its not going to happen I was just saying what they should do. But yep I can't imagine an American trying to live the lifestyle of a Chinese simply unthinkable Oh well, basta ako naman di ako US taxpayer so oks lang ako dyan. Basta ako ginagawa ko is binabawasan ko na US Dollars ko nililipat ko sa Gold, Chinese Yuan, Japanese Yen and Swiss Francs (mali ata ako dito pero tignan natin mahaba naman pasensya ko).

[tidus1203]

[ame="http://www.youtube.com/watch?v=xhSsmzS7RTI"]YouTube - Ron Paul - CIGARETTES better than MONEY!!![/ame]

The only politician who talks with a lot of sense. The politician who is not a POLITICIAN Yep, Congressman Ronald Earnest Paul albeit much much younger

[uls]

Tidus, nanonood ka ba ng MTV Cribs?

big house, cars, big screen TVs in every room, jacuzzi, pool...

yan ang dream ng bawat Kano

and they are very willing to go into debt to experience "the life"

they have this mentality na "i deserve it"

[tidus1203]

Yes I do watch it sometimes. The problem is the people featured in the Cribs have the money to do buy all that high life stuff. Joe the Burger Flipper can't buy that with his own money, he needs Citibank (comes in Visa or Mastercard flavor) to lend him money via so he can buy stuff he normally won't be able to buy with his own sweat. Its a sad reality, but that is the American way of living for the most part.

[tidus1203]

BEIJING, China -- Three hundred cashed-up Chinese will visit the United States next month to seek bargains in the plunging American real estate market, a tour organizer said Wednesday.
The itinerary will include major US cities such as New York, Los Angeles and San Francisco, said Liu Jian, chief operating officer of Soufun.com, a popular Chinese real estate portal that has arranged the trip.
"We think there's a need for people in China to buy houses in the United States," he told AFP.
"Some people believe there's an opportunity for them because of the economic decline in the United States, which has made real estate prices drop."
The state-run China Daily newspaper said 40 percent of those who had registered for the 10-day, 15,000 yuan ($2,200) trip were investors seeking opportunities in the US market.
"(They) have been following the increase in mortgage foreclosures in the US, and the decline in the real estate market," Liu told the paper.
The other 60 percent are looking for homes for their children, who plan to go to the United States to study, according to the report.
Local regulations limit Chinese visiting the United States to taking $50,000 a year, but some potential property buyers have gone on enough trips to accumulate sufficient funds, the paper said.

http://business.inquirer.net/money/b...-to-buy-houses


Signs of the times?

[uls]

yep... the American way.

can't wait to live the good life

saving money takes too long

Gotta live the good life NOW

Borrow, borrow, spend, spend

the American way.

[uls]

http://business.inquirer.net/money/b...-to-buy-houses


Signs of the times?

hahaha

tama yan

that's what the Chinese have to be doing

they should start converting their paper cash savings to real assets

what else can you do with US dollars?

You gotta buy American stuff

AMERICAN ASSETS ON FIRE SALE

[tidus1203]

Diyan yan maguumpisa sa mga residental houses. Eventually you will have Chinese owned factories in the US mainland employing Americans for a cheap since the Americans will now be forced to lower their standards of living as they have consumed themselves beyond their means

[uls]

Strange things happen during abnormal times

WSJ
December 10, 2008
Fed Weighs Debt Sales of Its Own

The Federal Reserve is considering issuing its own debt for the first time, a move that would give the central bank additional flexibility as it tries to stabilize rocky financial markets.

Government debt issuance is largely the province of the Treasury Department, and the Fed already can print as much money as it wants. But as the credit crisis drags on and the economy suffers from recession, Fed officials are looking broadly for new financial tools.

Fed officials have approached Congress about the concept, which could include issuing bills or some other form of debt, according to people familiar with the matter.

It isn't known whether these preliminary discussions will result in a formal proposal or Fed action. One hurdle: The Federal Reserve Act doesn't explicitly permit the Fed to issue notes beyond currency.

Just exploring the idea underscores many challenges the ongoing problems are creating for the Fed, as well as the lengths to which the central bank is going to come up with new ideas

they have used all their weapons

need new weapons

[tidus1203]

Hahahaha you should see what the UK is doing! The government will now GET THIS guarantee housing loans and corporate loans They are really losing all the sanity there is. Now taxpayers will guarantee loans! So ano yan, Joe the Burger Flipper can now buy a house way beyond his means and he does not pay (and he won't be able to pay) then esentially the bank can claim from the government? They say they want the bank to lend again, but that was the problem overlending, so the banks have to take a rest from lending and gather up. Totally insane stuff!


http://www.bloomberg.com/apps/news?p...E7I&refer=home

[uls]

hahaha

amazing

Banks say "We won't lend coz the borrowers can't pay"

UK Govt says "Don't worry, we will guarantee the loans"

hahaha

they will do anything to make the banks lend

--

Aside from the capital injections and bailouts,

governments guarantee bank deposits

now they will guarantee bank loans

the global financial system is hooked up to so many intravenous and life support lines...

THE GLOBAL FINANCIAL SYSTEM CAN NO LONGER FUNCTION WITHOUT LIFE SUPPORT

[tidus1203]

But question that I keep on pounding and most conservatives keep on pounding is WHERE IS THE MONEY COMING FROM??? No, seriously I know the answer. It comes from the printing press, the US and UK have budget deficits so there is no way they have the money to support all these bailouts and guarantees....

[uls]

as for the guarantees, it's simply bluffing

Example yung guarantee on bank deposits

it's impossible the governments already have money set aside to guarantee all bank deposits when they announced they will guarantee all bank deposits

by coming out with the statement that they will guarantee all bank deposits,

the governments prevented bank runs.

the governments crossed their fingers and hoped the citizens believe their governments and don't withdraw all their bank deposits

[tidus1203]

But if they do, where is the money? These interventions to the free markets are some of the recipes needed for more reckless lending. I mean if you have government guarantee you have effectively removed the risk side of the equation so now its all gain and nothing to lose as far as the banks is concerned.

[uls]

If the people still decide to withdraw all their money, the governments have to come up with the money

that is if the governments do not break their promise

the central banks will have to print up the money

--

yes, all that govt intervention has distorted the free market

kaya things are topsy turvy nowadays

the old rules are out the window

abnormal talaga ang panahon na ito

[tidus1203]

NEW YORK (Reuters) - American International Group, once the world's largest insurer, owes around $10 billion to other financial services firms for trades that have gone sour, the Wall Street Journal reported in its online edition on Tuesday.
The report, citing people familiar with the matter, says the trades have not been explicitly disclosed before, and are not covered by terms of a current $150 billion U.S. government rescue package.
The government's rescue package was meant to save AIG from collapse, but the Wall Street Journal report says the newly discovered trades raise further questions about how the insurer will raise money to pay the debts.
An AIG spokesman could not immediately be reached to comment on the report.

http://www.reuters.com/article/newsO...4B911320081210


And guess who is likely going to foot the bill? I tell you the longer this things is being kept artificially alive the more burden it is to the taxpayers not necessarilt the current taxpayers but more likely the future taxpayers.

[uls]

^^^

Bad stuff just keep surfacing

AIG made a lot of bad bets in the past few years

as usual, the counterparties will get paid

AIG is being kept alive to protect the companies it made bets with