"CRUDE" oil, an absolute must see program !!!

Discussion in 'All Things Boats & Boating' started by brian eiland, Feb 22, 2008.

  1. masalai
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    masalai masalai

    Longie, - - I know, but read the report, That is the point, "looking to make the excuse....?"
     
  2. Guest625101138

    Guest625101138 Previous Member

    If I was in debt to a particular bank or lending institution I would not be panicked by its failure. I certainly would not be running there to pay back my loan in the hope of saving the business. Given the level of private debt in the US I cannot see mass panic over bank failures. The lenders that take over the debt will nudge up rates for those who can continue to pay and provide bridging for those who cannot.

    A month ago, every third advertisement on US TV was how to negotiate on debt - probably even more now. The morning shows have regular segments on debt management - basically professional advice on what rate certain institutions will take as settlement of debt. Hospitals are a soft target - suggest 20 cents in the dollar. They recommend walking away from a house where the current value is less than the loan amount if repayments are a struggle - I expect loan institutions have growing property portfolios. Walking away from debt is now mainstream and not regarded as dishonorable.

    Rick W.
     
  3. masalai
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    masalai masalai

    Rick, Being an undischarged bankrupt has legal ramifications relating to international travel and business dealings.
     
  4. Guest625101138

    Guest625101138 Previous Member

    I am not talking about going bankrupt. You simply negotiate your way out of debt or walk away from a property that owes you money.

    Rick W.
     
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  5. Meanz Beanz
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    Meanz Beanz Boom Doom Gloom Boom

    My point was that they are not letting them all fail and that this is a disruption of a healthy cleansing process. These failures need to occur, public rescues are doing more harm than good and will be more damaging in the long run.

    So...

    This is not to say that bailouts should occur, its merely pointing out that the very behaviour of the government in bailing out select institutions belies the statements Bush made about the banking system being sound. If it where sound they'd not be bailing out for they would not fear contagion. They are basically scared of the massive Credit Default Swap Market ending up in a stinking heap so they are desperately trying to stop any large domino's in that market falling. It would make subprime look like a picnic...
     
  6. longliner45
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    longliner45 Senior Member

    I agree with beans ,,if you loan me more than I can pay ,,,for my house ,,its my fault for not knowing my budget ,,your fault for tempting me with a bigger ,nicer house that I really cant afford ,,no govt bailout for stuipidity,,,,,,time to pay the piper
     
  7. the1much
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    the1much hippie dreams

    ya,,stoooopid usa has most its debt due to helping idiotic countries that cant seem to be able to help themselves,,,,,,,but look round in ya neighborhood,,usually the 1 that gives the most ,,, has the least,,,and when he is in need,,,you usually cant seem to find anyone around his house....
     
  8. Meanz Beanz
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    Meanz Beanz Boom Doom Gloom Boom

    Exactly, without the threat of bankruptcy banks will lend in imprudent fashion and that will cause problems for all as witnessed by the housing boom.

    As soon as the banks worked out that the IMF would bailout the likes of Brazil if they looked like defaulting on debt they went wild lending them money creating the very situation that the IMF feared. By underwriting the situation the IMF generated a big moral hazard, this parallels the bailing out of banks that stuffed up in the mortgage market.
     
  9. longliner45
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    longliner45 Senior Member

    yea much,,,know exactly what your sayin
     
  10. Meanz Beanz
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    Meanz Beanz Boom Doom Gloom Boom

    Read "Confessions of an Economic Hit Man: John Perkins" it will change your mind about the function of debt in third world countries. Sad to say its not exactly altruistic... big subject.
     
  11. the1much
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    the1much hippie dreams

    do they have that on 1 of those cd's that read to ya?,,hehe :D;)
     
  12. Frosty

    Frosty Previous Member

    I agree with Rick, why the hell would a debtor worry about his bank going bust.

    I am invested heavily with a British bank that is really in the poo, actually it will still make 100 million pounds this year, but thats not enough for the share holders that can get better else where so they run.

    What really stinks about a banks going under is the account holders. These people sometimes have their lifes earnings invested , the share holders accepted risk as share holders do, but the account holders are what the bank is built on in the first place and no risk should be involved for the pittance of return that they get. The government should protect these people as this is taxed money first of all,-- and to the full amount, and not hide behind some miniscule figure of 35,000 pounds.

    If the government said NOW that all account holders will be covered there wouldnt be a run on the bank which is what causes the failure.

    I think what we might see here is banks going it on there own interest rates, never mind what the base rate is. Money has been too cheap.

    Some mortgages in Uk have been 125 % causing negative equity emediately.

    The banks need to be punished or regulated for this but not at the cost of the account holders.
     
  13. Guest625101138

    Guest625101138 Previous Member

    My point is that the US does not need to fear contagion of bank failure - even if that is the reason for the action. It is the countries invested in the US that need to be concerned.

    You know the old saying. $5000 in debt and cannot pay - you have a problem. $5M in debt and cannot pay - the bank has problem. The numbers might need to be inflated now but sentiment the same. US does not have a problem. It is the countries that have loaned them all that money. Their investments in whatever form are being rapidly devalued.

    Rick W
     
  14. masalai
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    masalai masalai

    Hallelujah? Are we getting more members for the tinfoil hats brigade? Goody - strength in numbers and better capacity to research and analyse......

    Heinz, your cool head and reasoned analysis/research is paying dividends.... What sites can we watch to gather more useful data?

    Can I be so bold as to suggest we get a bit (not too much) serious about collating and feeding/sharing data/information?
     

  15. longliner45
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    longliner45 Senior Member

    back to much 1,we forgave billions in war debt,,billions in economic aid ,we have rebuilt infrastructuer in many places ,we have always been the one ,,,(expected)to respond during natural disasters,,,famine and other globale emergancy ,,while the UN sat by and twitled thier thumbs,,,,hell we even continued,,snd still continue to feed somolis,,,,,,,,even after they dragg my rangers through the street,,,,,,while my niegbours skip meals
     
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