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jficquette
Participant[quote=stockstradr]Brutal. I’m also watching the international markets on Bloomberg and CNBC business channels.
Shanghai at about 2100 now. When I see 1500, I’m going to get a taste for Chinese![/quote]
Do you post on “Elite Trader?? There is a guy there with a similar username as you.
John
Participant[quote=stockstradr]Brutal. I’m also watching the international markets on Bloomberg and CNBC business channels.
Shanghai at about 2100 now. When I see 1500, I’m going to get a taste for Chinese![/quote]
Do you post on “Elite Trader?? There is a guy there with a similar username as you.
John
Participant[quote=stockstradr]Brutal. I’m also watching the international markets on Bloomberg and CNBC business channels.
Shanghai at about 2100 now. When I see 1500, I’m going to get a taste for Chinese![/quote]
Do you post on “Elite Trader?? There is a guy there with a similar username as you.
John
Participant[quote=stockstradr]Brutal. I’m also watching the international markets on Bloomberg and CNBC business channels.
Shanghai at about 2100 now. When I see 1500, I’m going to get a taste for Chinese![/quote]
Do you post on “Elite Trader?? There is a guy there with a similar username as you.
John
October 6, 2008 at 10:14 PM in reply to: Fed in bold move to thaw credit markets says it will buy massive amounts of short-term debt #282415Participant[quote=fat_lazy_union_worker]Why is oil at 92 bucks?
Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.
Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.
[/quote]
The biggest factor is the moves they made to quell speculation. They raised the margin requirements and they limited how many contracts a “non industry participate” could have.
That oil was just another bubble. There is no reason why oil should be more then 45 bucks a barrel.
John
October 6, 2008 at 10:14 PM in reply to: Fed in bold move to thaw credit markets says it will buy massive amounts of short-term debt #282697Participant[quote=fat_lazy_union_worker]Why is oil at 92 bucks?
Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.
Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.
[/quote]
The biggest factor is the moves they made to quell speculation. They raised the margin requirements and they limited how many contracts a “non industry participate” could have.
That oil was just another bubble. There is no reason why oil should be more then 45 bucks a barrel.
John
October 6, 2008 at 10:14 PM in reply to: Fed in bold move to thaw credit markets says it will buy massive amounts of short-term debt #282723Participant[quote=fat_lazy_union_worker]Why is oil at 92 bucks?
Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.
Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.
[/quote]
The biggest factor is the moves they made to quell speculation. They raised the margin requirements and they limited how many contracts a “non industry participate” could have.
That oil was just another bubble. There is no reason why oil should be more then 45 bucks a barrel.
John
October 6, 2008 at 10:14 PM in reply to: Fed in bold move to thaw credit markets says it will buy massive amounts of short-term debt #282740Participant[quote=fat_lazy_union_worker]Why is oil at 92 bucks?
Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.
Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.
[/quote]
The biggest factor is the moves they made to quell speculation. They raised the margin requirements and they limited how many contracts a “non industry participate” could have.
That oil was just another bubble. There is no reason why oil should be more then 45 bucks a barrel.
John
October 6, 2008 at 10:14 PM in reply to: Fed in bold move to thaw credit markets says it will buy massive amounts of short-term debt #282751Participant[quote=fat_lazy_union_worker]Why is oil at 92 bucks?
Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.
Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.
[/quote]
The biggest factor is the moves they made to quell speculation. They raised the margin requirements and they limited how many contracts a “non industry participate” could have.
That oil was just another bubble. There is no reason why oil should be more then 45 bucks a barrel.
John
Participant[quote=lookingagain]It sounds to me as though BofA will be writing it off. What I would like to see (although it could never happen) is to have all principal write-downs be recorded as sales. Otherwise, those who bought at the inflated prices get the break but those of us who waited out this insanity still have to deal with the absurd prices that sellers still think their home is worth.[/quote]
Actually, you could use this to back into it. If you know the median house income you could multiply by 34% for the payment x 360(assume 30 yr loan) and then discount it back for the value using say 6.5%
John
Participant[quote=lookingagain]It sounds to me as though BofA will be writing it off. What I would like to see (although it could never happen) is to have all principal write-downs be recorded as sales. Otherwise, those who bought at the inflated prices get the break but those of us who waited out this insanity still have to deal with the absurd prices that sellers still think their home is worth.[/quote]
Actually, you could use this to back into it. If you know the median house income you could multiply by 34% for the payment x 360(assume 30 yr loan) and then discount it back for the value using say 6.5%
John
Participant[quote=lookingagain]It sounds to me as though BofA will be writing it off. What I would like to see (although it could never happen) is to have all principal write-downs be recorded as sales. Otherwise, those who bought at the inflated prices get the break but those of us who waited out this insanity still have to deal with the absurd prices that sellers still think their home is worth.[/quote]
Actually, you could use this to back into it. If you know the median house income you could multiply by 34% for the payment x 360(assume 30 yr loan) and then discount it back for the value using say 6.5%
John
Participant[quote=lookingagain]It sounds to me as though BofA will be writing it off. What I would like to see (although it could never happen) is to have all principal write-downs be recorded as sales. Otherwise, those who bought at the inflated prices get the break but those of us who waited out this insanity still have to deal with the absurd prices that sellers still think their home is worth.[/quote]
Actually, you could use this to back into it. If you know the median house income you could multiply by 34% for the payment x 360(assume 30 yr loan) and then discount it back for the value using say 6.5%
John
Participant[quote=lookingagain]It sounds to me as though BofA will be writing it off. What I would like to see (although it could never happen) is to have all principal write-downs be recorded as sales. Otherwise, those who bought at the inflated prices get the break but those of us who waited out this insanity still have to deal with the absurd prices that sellers still think their home is worth.[/quote]
Actually, you could use this to back into it. If you know the median house income you could multiply by 34% for the payment x 360(assume 30 yr loan) and then discount it back for the value using say 6.5%
John
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