Forums | MacLife
You are not logged in.
#1 2008-06-18 2:08 pm
- ShnickyShnack
- Commander of Insurgent Cell "Dreamboat"
- From: Amidst a superiority complex
- Registered: 2001-05-25
- Posts: 40878
Bank to investors: "prepare for apocalypse"
RBS issues global stock and credit crash alert
A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.
Such a slide on world bourses would amount to one of the worst bear markets over the last century.
RBS said the iTraxx index of high-grade corporate bonds could soar to 130/150 while the "Crossover" index of lower grade corporate bonds could reach 650/700 in a renewed bout of panic on the debt markets.
"I do not think I can be much blunter. If you have to be in credit, focus on quality, short durations, non-cyclical defensive names.
"Cash is the key safe haven. This is about not losing your money, and not losing your job," said Mr Janjuah, who became a City star after his grim warnings last year about the credit crisis proved all too accurate.
Yikes.
"If you would like a serious response, please ask serious, non loaded/leading questions" -- Steyr
Offline
#2 2008-06-18 2:39 pm
- user
- Your plastic pal who's fun to be with
- From: I'm not getting you down, am I
- Registered: 2001-10-15
- Posts: 14730
Re: Bank to investors: "prepare for apocalypse"
"So, John, why DO you rob banks?"
"Because that's where the money is."
"Um.....not any more...."
Aw, he's no fun, he fell right over.
Unless you become as little children, there's no way you will believe this crap.
Offline
#3 2008-06-18 3:38 pm
- JakeTheTall
- Cargo Cultist
- From: In Permanent Opposition
- Registered: 2003-03-13
- Posts: 8074
Re: Bank to investors: "prepare for apocalypse"
Its impressive that that American economy has managed as well for this calendar year.
Time will tell.
And maybe Mr. Freecat does know what he's talking about.
“I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained” -- U.S. Treasury Secretary Henry Paulson, April 2007
Online
#4 2008-06-18 3:58 pm
- ShnickyShnack
- Commander of Insurgent Cell "Dreamboat"
- From: Amidst a superiority complex
- Registered: 2001-05-25
- Posts: 40878
Re: Bank to investors: "prepare for apocalypse"
Zero growth is teh grate
"If you would like a serious response, please ask serious, non loaded/leading questions" -- Steyr
Offline
#5 2008-06-18 4:55 pm
- jeremiah256
- Big Black Kahuna
- From: Honolulu HI, U.S.A.
- Registered: 2001-06-29
- Posts: 776
Re: Bank to investors: "prepare for apocalypse"
So that's why Warren Buffett has been investing in mobile homes and beer. I need to get ahead of him: what company sells Daisy Dukes?
... Already long ago, from when we sold our vote to no man, the People have abdicated our duties; for the People who once upon a time handed out military command, high civil office, legions - everything, now restrains itself and anxiously hopes for just two things: bread and circuses - Juvenal
Offline
#6 2008-06-18 4:57 pm
- sturner
- Royal High Poobah
- Moderator
- From: Carrollton, TX USA
- Registered: 2000-01-31
- Posts: 10056
Re: Bank to investors: "prepare for apocalypse"
Naw, buy stock in Lone Star!
"There were places in the world commemorating those times when wizards hadn't been quite as clever [as to refrain from doing magic when you knew how easy it was], and on many of them the grass would never grow again." Terry Prachett
There are 3 types of people, those who can count and those who can't.
Offline
#7 2008-06-18 5:06 pm
Re: Bank to investors: "prepare for apocalypse"
Don't care.
We are working overtime at my shop and I just got a raise yesterday.
But then I make money the old fashioned way by taking raw materials and adding value to it thru my labor..
I’m not ready to make nice-I’m not ready to back down-I’m still mad as hell and
I don’t have time to go round and round and round-It’s too late to make it right
I probably wouldn’t if I could-‘Cause I’m mad as hell-Can’t bring myself to do what it is you think I should
Offline
#8 2008-06-18 5:09 pm
- Hank Rearden
- Watch your step
- From: Republic of Western Canada
- Registered: 2001-04-18
- Posts: 6431
- Website
Re: Bank to investors: "prepare for apocalypse"
But, really, it's the Scots talking...
Offline
#9 2008-06-18 5:12 pm
- Ribtorus
- Member
- Registered: 2002-07-11
- Posts: 13346
Re: Bank to investors: "prepare for apocalypse"
Maybe it's the scotch talking.
when surrounded and left on Afghanistan's plains,
and the women come out to cut up what remains,
just roll to your rifle and blow out your brains,
and go to your god like a soldier...
Offline
#10 2008-06-18 5:22 pm
- ShnickyShnack
- Commander of Insurgent Cell "Dreamboat"
- From: Amidst a superiority complex
- Registered: 2001-05-25
- Posts: 40878
Re: Bank to investors: "prepare for apocalypse"
I think that's the gag that Hank was trying to make. Still trying to master the nuances.
"If you would like a serious response, please ask serious, non loaded/leading questions" -- Steyr
Offline
#11 2008-06-18 5:24 pm
- Ribtorus
- Member
- Registered: 2002-07-11
- Posts: 13346
Re: Bank to investors: "prepare for apocalypse"
I thought HR's comment was about reputed Scottish "carefulness" with money.
when surrounded and left on Afghanistan's plains,
and the women come out to cut up what remains,
just roll to your rifle and blow out your brains,
and go to your god like a soldier...
Offline
#12 2008-06-19 12:10 am
- Hank Rearden
- Watch your step
- From: Republic of Western Canada
- Registered: 2001-04-18
- Posts: 6431
- Website
Re: Bank to investors: "prepare for apocalypse"
Ribtorus wrote:
I thought HR's comment was about reputed Scottish "carefulness" with money.
Something about having to explain jokes...
Offline
#13 2008-06-19 1:48 am
Re: Bank to investors: "prepare for apocalypse"
So - RBS is predicting more democratic party seats in the house and senate.
Interesting.
I think the obvious question everyone has is who takes loaded weapons into a Toys R Us? -- Jim Ferguson
Online
#14 2008-06-19 9:06 am
- zoees
- Member
- From: Maryland
- Registered: 2001-08-14
- Posts: 2578
Re: Bank to investors: "prepare for apocalypse"
Seems like when I was a kid, to have credit cards was a pretty big deal.
Of course that was the 70's when people still lived within their means.
I see people riding around in expensive cars, living in giant houses, wearing a new outfit every time you see them, lot's of jewelry, eating out all the time, etc. . . but I do believe that they are probably up to their eyeballs in debt. I know a few. It's all smiles when their out, but in private it's a much different story.
"I am treated as evil by people who claim that they are being oppressed because they are not allowed to force me to practice what they do".—D. Dale Gulledge
Offline
#15 2008-06-19 9:08 am
- ShnickyShnack
- Commander of Insurgent Cell "Dreamboat"
- From: Amidst a superiority complex
- Registered: 2001-05-25
- Posts: 40878
Re: Bank to investors: "prepare for apocalypse"
Hank Rearden wrote:
Ribtorus wrote:
I thought HR's comment was about reputed Scottish "carefulness" with money.
Something about having to explain jokes...
Poor Hank. What a struggle.
"If you would like a serious response, please ask serious, non loaded/leading questions" -- Steyr
Offline
#17 2008-06-19 10:56 am
- Hank Rearden
- Watch your step
- From: Republic of Western Canada
- Registered: 2001-04-18
- Posts: 6431
- Website
Re: Bank to investors: "prepare for apocalypse"
ShnickyShnack wrote:
Hank Rearden wrote:
Ribtorus wrote:
I thought HR's comment was about reputed Scottish "carefulness" with money.
Something about having to explain jokes...
Poor Hank. What a struggle.
Don't worry, I have a good therapist.
Offline
#18 2008-06-19 12:02 pm
- ShnickyShnack
- Commander of Insurgent Cell "Dreamboat"
- From: Amidst a superiority complex
- Registered: 2001-05-25
- Posts: 40878
Re: Bank to investors: "prepare for apocalypse"
Hank Rearden wrote:
ShnickyShnack wrote:
Hank Rearden wrote:
Something about having to explain jokes...Poor Hank. What a struggle.
Don't worry, I have a good therapist.
That's good. I do still have hope for you, my man.
"If you would like a serious response, please ask serious, non loaded/leading questions" -- Steyr
Offline
#19 2008-06-19 12:05 pm
- Ribtorus
- Member
- Registered: 2002-07-11
- Posts: 13346
Re: Bank to investors: "prepare for apocalypse"
Hank Rearden wrote:
Ribtorus wrote:
I thought HR's comment was about reputed Scottish "carefulness" with money.
Something about having to explain jokes...
The nuance escaped me. I wasn't expecting it.
when surrounded and left on Afghanistan's plains,
and the women come out to cut up what remains,
just roll to your rifle and blow out your brains,
and go to your god like a soldier...
Offline
#20 2008-06-19 6:50 pm
- Ribtorus
- Member
- Registered: 2002-07-11
- Posts: 13346
Re: Bank to investors: "prepare for apocalypse"
Be interesting to see how the banks, lenders and the insurers will respond as their ratings decline. Although much of it is artificial nonesense, it's still part of the show and worth sticking around for.
when surrounded and left on Afghanistan's plains,
and the women come out to cut up what remains,
just roll to your rifle and blow out your brains,
and go to your god like a soldier...
Offline
#21 2008-06-20 8:28 am
- user
- Your plastic pal who's fun to be with
- From: I'm not getting you down, am I
- Registered: 2001-10-15
- Posts: 14730
Re: Bank to investors: "prepare for apocalypse"
Probably be more calls to shoot teh speculators.
Aw, he's no fun, he fell right over.
Unless you become as little children, there's no way you will believe this crap.
Offline
#22 2008-06-20 12:34 pm
- Hank Rearden
- Watch your step
- From: Republic of Western Canada
- Registered: 2001-04-18
- Posts: 6431
- Website
Re: Bank to investors: "prepare for apocalypse"
And now, let the arrests begin:
http://ukpress.google.com/article/ALeqM … LP86TILX4g
More than 400 estate agents have been charged since March, including dozens over the past two days, in a crackdown on incidents of US mortgage fraud that stem from America's housing crisis, the Deputy Attorney General said.
To people who have committed fraud or are contemplating doing so, FBI Director Robert Mueller said: "We will find you, you will be investigated and you will be prosecuted."
Offline
#23 2008-06-20 1:11 pm
- Ribtorus
- Member
- Registered: 2002-07-11
- Posts: 13346
Re: Bank to investors: "prepare for apocalypse"
They were heros when it was all homeowner value and the ownership society. The sharp end of the spear. There ought to be a statue.
when surrounded and left on Afghanistan's plains,
and the women come out to cut up what remains,
just roll to your rifle and blow out your brains,
and go to your god like a soldier...
Offline
#24 2008-06-20 10:49 pm
- [MA] Flying_Meat
- Member
- From: Frisco?
- Registered: 2001-03-31
- Posts: 8363
Re: Bank to investors: "prepare for apocalypse"
oh!!! what a shocker! are we deregulated yet?
...and watch out for the flying meat!
Offline
#25 2008-06-21 7:03 am
Re: Bank to investors: "prepare for apocalypse"
WASHINGTON — Driven largely by the surge in foreclosures and an unsettled housing market, Americans are renting apartments and houses at the highest level since President Bush started a campaign to expand homeownership in 2002.
The percentage of households headed by homeowners, which soared to a record 69.1 percent in 2005, fell to 67.8 percent this year, the sharpest decline in 20 years, according to census data through the end of March. By extension, the percentage of households headed by renters increased to 32.2 percent, from 30.9 percent.
The figures, while seemingly modest, reflect a significant shift in national housing trends, housing analysts say, with the notable gains in homeownership achieved under Mr. Bush all but vanishing over the last two years.
http://www.nytimes.com/2008/06/21/us/21 … ref=slogin
Or in other words another failure of conservative smoke and mirrors economic policy. Again.
I’m not ready to make nice-I’m not ready to back down-I’m still mad as hell and
I don’t have time to go round and round and round-It’s too late to make it right
I probably wouldn’t if I could-‘Cause I’m mad as hell-Can’t bring myself to do what it is you think I should
Offline
