Meltdown

[ibanezmonster]

The financial markets actually like the sequestration, stock markets in particular - both the US and Japanese markets keep making new highs.  The only folks that do not like sequestration are the federal workers or some state workers whose jobs depend on continuing federal funding ...

Hopefully it stays that way.

[Coopmv]

Hopefully it stays that way.

I am not complaining ...   LOL

[snyprrr]

I am not complaining ...   LOL

Oh, and here I'd predicted that you were going to mention teh CYPRUS BANK ACCOUNT CONFISCATIONS!!! Get popcorn ready!!

put on your shit-fan goggles!!

[Daverz]

Oh, and here I'd predicted that you were going to mention teh CYPRUS BANK ACCOUNT CONFISCATIONS!!! Get popcorn ready!!

put on your shit-fan goggles!!

What could possibly go wrong.  How do I invest in Cyprian mattress retailers?

[snyprrr]

What could possibly go wrong.  How do I invest in Cyprian mattress retailers?

...apparently russian mobsters have a lot of money in cletus...

[Daverz]

...apparently russian mobsters have a lot of money in cletus...

[Todd]

put on your shit-fan goggles!!

Time to buy gold and guns?

[Brian]

I just opened a Roth IRA today, so I expect the global economy to collapse any second.

[Todd]

I just opened a Roth IRA today, so I expect the global economy to collapse any second.

I've been building up cash since last time I bought stocks during the last mini-meltdown a couple years ago or so.  A good panic represents a good buying opportunity.  Remember the advice of Baron Rothschild: Buy when there's blood in the streets.

[Brian]

I've been building up cash since last time I bought stocks during the last mini-meltdown a couple years ago or so.  A good panic represents a good buying opportunity.  Remember the advice of Baron Rothschild: Buy when there's blood in the streets.

Yeah, I also have a significant chunk of change sitting in my checking account waiting for the next big panic. It's kind of sad to me that it's in checking, but bank savings don't really offer interest anymore, so I might as well wait for opportunity.

[Todd]

It's kind of sad to me that it's in checking, but bank savings don't really offer interest anymore, so I might as well wait for opportunity.

Indeed.  I have a nice checking account now, and I looked, briefly, into moving my money into a nice, safe, liquid money market account, but the extra money I would earn by going from .00003% to .0003% wasn't enough to justify the paperwork.  I exaggerate, of course, but only slightly.

[Szykneij]

Indeed.  I have a nice checking account now, and I looked, briefly, into moving my money into a nice, safe, liquid money market account, but the extra money I would earn by going from .00003% to .0003% wasn't enough to justify the paperwork.  I exaggerate, of course, but only slightly.

My bank sent me a letter warning if I exceed my monthly limit of computer transfers from savings, they would have to switch me to a non-interest-bearing account. Last month, my interest payment was $ .11. It cost them five times as much in postage to send the letter!

[snyprrr]

I've been building up cash since last time I bought stocks during the last mini-meltdown a couple years ago or so.  A good panic represents a good buying opportunity.  Remember the advice of Baron Rothschild: Buy when there's blood in the streets.

Don't forget, "First, CAUSE the blood in the streets!!"

The first insider trader? Damn the pigeons!!


Did you know DLLR considers me a 'customer'??

[Karl Henning]

My bank sent me a letter warning if I exceed my monthly limit of computer transfers from savings, they would have to switch me to a non-interest-bearing account. Last month, my interest payment was $ .11. It cost them five times as much in postage to send the letter!

I think I can guess your bank ; ) It's a few years ago now, but I do remember needing to modify (not radically) my savings-transfer behavior, in the interests of avoiding superfluous fees . . . .

[Daverz]

Interview with Christopher Pissarides on the Cyprus situation:

"Did the EU, ECB, and IMF inadequately monitor the Cypriot banking system?

No! They seem to think that all big depositors are Russians with dirty money. But after months of searching they couldn't find a single one. In a large system two banks misbehaved and the troika solution is [to] destroy half the system. There are other ways of monitoring and regulating large banking systems, not through destruction and massive unemployment."

http://www.businessweek.com/articles/2013-03-19/a-cypriot-nobelist-appalled-by-the-bailout-bank-tax#r=hp-lst

[Coopmv]

Time to buy gold and guns?

Absolutely!

[Coopmv]

Yeah, I also have a significant chunk of change sitting in my checking account waiting for the next big panic. It's kind of sad to me that it's in checking, but bank savings don't really offer interest anymore, so I might as well wait for opportunity.

Big Ben lends money to Wall Street at 0% interests so they can gamble via high frequency trading ...

[Coopmv]

My bank sent me a letter warning if I exceed my monthly limit of computer transfers from savings, they would have to switch me to a non-interest-bearing account. Last month, my interest payment was $ .11. It cost them five times as much in postage to send the letter!

Your bank still pays you interests on your checking account?  The big US banks have stopped paying interests for checking accounts for some times ...

[ibanezmonster]

Your bank still pays you interests on your checking account?  The big US banks have stopped paying interests for checking accounts for some times ...

I remember when I was in elementary school and my mom opened a savings account for me, trying to teach me about earning interest through saving money. LOL

[Coopmv]

I remember when I was in elementary school and my mom opened a savings account for me, trying to teach me about earning interest through saving money. LOL

Instead of the Thief of Baghdad, we now have the Thief of Washington who is none other than Ben Bernanke, who has been providing interest free overnight loans to the big banks to gamble in the markets at the expense of ordinary citizens.  The elderies have never had a tougher life since the interest income they have come to rely on has vanished ...