[Rhodes22-list] Brad & Bell E, Political question

[Brad Haslett]

Wally,

The immediate crisis is commercial paper.  If the market quits buying
and selling commercial paper the wheels of the entire economy grind to
a halt.  That IS bad.

You and I agreed 2.5 years ago that the real estate market silliness
wouldn't last forever and it didn't.  The financial institutions would
have made a correction but for Fanny and Freddie continuing to serve
"free" drinks until the patrons fell off their bar stools.

As for safe, do business with a local bank.  I bank with the Memphis
Area Teachers Credit Union and they hold their own loans.  There's
nothing sexy about borrowing money at 4% and lending it at 7% but it's
worked for years.  Every community has a small bank or S&L.

Complaining about the equities market going South makes about as much
sense as me whining about my airplane losing 30% of its value in the
last year.  It is only a problem if I plan to sell (and I don't).  The
stock market has outperformed every other investment in the long run.
For most Americans, the long run means the day after tomorrow.

Never forget what Thomas Malthus said about the long run.  In the long
run, we'll all be dead!

Brad

On Sat, Sep 27, 2008 at 9:35 AM, TN Rhodey <tnrhodey at gmail.com> wrote:
> Did Brad really say this crisis is worse than people think...congrats it
> looks like you finally got it! I told you this was going to be huge 2.5
> years ago. But no no no....Brad you really had your blinders on but it
> sounds like you may be catching up!......Thankfully I ignored the optimistic
> opinions of Brad, Ed, Herb (maybe a few others).and made dramatic changes to
> my meager portfolio over the last 2 years.  Now i am worried about my bank
> closing.....there is only so much FDIC insurance to go around.  Bank runs
> are making a comeback. What is safe?
>
> I say no bail out! Let the chips fall..... It will be ugly but does anyone
> really think the government can fix this? Plenty of blame to go around but
> this is all about greed at every level.  I find no joy in seeing my fears
> realized......hopefully not my WORSE fears.
>
> Maybe we could fix this the "American" way.......we can get one of those
> Credit Repair/Tax Settlement companies to renegotiate our debt with
> China.....or can we just default on our debt and tell China tough shit? We
> can put the White House on the national "Do Not Call" list and get a new
> unlisted phone number for the White House.  The national FICO score will go
> down the shitter but a good credit repair company could help us rebuild our
> credit in a mere matter of a couple of years.  Problem solved. Just
> kidding.....
>
> I just hope the new pres is up to the task.
>
> Fair winds, Wally
>
>
>
>
> On Fri, Sep 26, 2008 at 6:23 PM, Brad Haslett <flybrad at gmail.com> wrote:
>
>> Ed,
>>
>> Haven't heard anything about it but then I've been out of pocket
>> today. What I've been reading about the last hour is that the Dem's
>> don't want their version to pass without the Republicans on board
>> because then "they own it". Barney Frank tried to load it up with
>> Christmas ornaments, ie, "funding housing for the poor", etc.  Hey
>> Barney, DUMBASS, that's how we got to this point.  Anyway, he's
>> already backed down from that.  The Republicans are getting Very Heavy
>> anti-bailout messages from their constituents, and in the right-wing
>> blogsphere where I spend a fair amount of time, it is not popular.
>> That's an understatement. Bush wanted McCain to bring the Republicans
>> on board and I'm not sure McCain was able to do that. Presidential
>> election year or not, McCain is a RINO and he's not getting the party
>> to fall in line  behind him in lockstep. My hope is that a bill gets
>> passed over the weekend, as clean a bill as we can possibly get.  The
>> Dems have the votes to do it on their own and IMHO are on the right
>> side of the issue.  The Republican concerns are valid but it's too
>> late to implement them.  The crisis is worse than most people think. I
>> can only watch TV news coverage until Harry Reid shows his face and
>> then I start looking for things to throw at the TV, so now I just
>> leave the room. Reid is a worthless asswipe that tries to politicize
>> everything. Obama has an opportunity to come out of this looking like
>> a hero even though his fingerprints are all over the cause of the
>> mess.  Such is politics.
>>
>> You can't say this year has been boring.
>>
>> Brad
>>
>> On Fri, Sep 26, 2008 at 2:52 PM, Tootle <ekroposki at charter.net> wrote:
>> >
>> > You two guys have access to the latest information, what is behind rumor
>> that
>> > Paulson is feeding Obama information thru his old friends at Goldman,
>> Sacks?
>> >
>> > Next rumor:  Is Paulson trying to bail out Goldman, Sacks so that he
>> > personnally is not brought into lawsuits to recover losses?
>> >
>> > Ed K
>> > Greenville, SC, USA
>> > --
>> > View this message in context:
>> http://www.nabble.com/Brad---Bell-E%2C-Political-question-tp19695267p19695267.html
>> > Sent from the Rhodes 22 mailing list archive at Nabble.com.
>> >
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