How then, do we move backwards? How does a society, with most of the people having no clue of future events, move from being dependent on a vast and intertwined network of goods and services produced by the indigenous people of whereever, to a local resource and renewable energy based society, and do so in the timeframe available (20-30 years using the most liberal extimates, 10-20 with resonable estimates, 5-10 with worst case scenarios), all the while prices on everything increasing, world politics getting more militaristic, governments continuously reducing civil liberties, shortages of goods on the market and weather patterns resembling bad Hollywood movies?
Posted: Fri Jul 11, 2008 6:04 am Post subject: CNN: Time to consider the 'doomsday scenario'
peach!
Graet news.
Who TF are Fanny and Freddie?
Quote:
NEW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer?
It's been a brutal week for Freddie (FRE, Fortune 500) and Fannie (FNM, Fortune 500). A Lehman analyst report Monday kicked off a stock rout that had shares in both companies hitting fresh multi-year lows Thursday. Freddie plummeted 22% Thursday, to $8.00 a share; Fannie was down nearly 14%, to $13.20.
The beating is likely to continue Friday. Freddie shares were down 33% and Fannie was off another 27% in premarket trading.
The stock plunge, together with Fed Chairman Ben Bernanke's downbeat housing outlook on Tuesday, is forcing investors to consider what would happen if a bailout is needed - a prospect raised Thursday when William Poole, the former president of the St. Louis Federal Reserve, told Bloomberg the companies are already "insolvent."
Also on Thursday, The Wall Street Journal reported that officials at the U.S. Treasury Department have been monitoring the companies for months as part of its normal contingency planning, but that discussions about what to do should they collapse have picked up in recent weeks.
A grim outlook
Posted: Fri Jul 11, 2008 6:10 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
KevO wrote:
peach!
Graet news.
Who TF are Fanny and Freddie?
Quote:
NEW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer?
It's been a brutal week for Freddie (FRE, Fortune 500) and Fannie (FNM, Fortune 500). A Lehman analyst report Monday kicked off a stock rout that had shares in both companies hitting fresh multi-year lows Thursday. Freddie plummeted 22% Thursday, to $8.00 a share; Fannie was down nearly 14%, to $13.20.
The beating is likely to continue Friday. Freddie shares were down 33% and Fannie was off another 27% in premarket trading.
The stock plunge, together with Fed Chairman Ben Bernanke's downbeat housing outlook on Tuesday, is forcing investors to consider what would happen if a bailout is needed - a prospect raised Thursday when William Poole, the former president of the St. Louis Federal Reserve, told Bloomberg the companies are already "insolvent."
Also on Thursday, The Wall Street Journal reported that officials at the U.S. Treasury Department have been monitoring the companies for months as part of its normal contingency planning, but that discussions about what to do should they collapse have picked up in recent weeks.
A grim outlook
Ah, a lesson on these United Socialist of America: Fannie and Freddie are part of the US HUD department. (Housing and Urban Development) of the federal government. They are federal backed loans to assist with the bank in the "upfront" moneys and in case the loans go into receivership.
This is a quick overview. _________________ THE SIMPLE LIFE: One frozen pond, a few sticks, a little round puck, and a bunch of rowdy kids.
Joined: Sep 16, 2004 Posts: 4230 Location: Southwest WI
Posted: Fri Jul 11, 2008 6:24 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
.........one, two Freddies coming for you
.........three, four better lock the door
..........five, six grab your crucifix
..........seven, eight stay up late
.........nine, ten never sleep again
Time to work on the flux capicator... I need to get back to '85 asap.. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Joined: Sep 03, 2007 Posts: 594 Location: Sunny Virginia, USA
Posted: Fri Jul 11, 2008 6:48 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
KevO wrote:
peach!
Graet news.
Who TF are Fanny and Freddie?
Quote:
NEW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer?
And before anyone starts shouting about Tipping Points. No, this is not the tipping point. The Feds will step in, put together some mumo-jumbo paper work, say a few soothing words and let a few chips fall where they may (for show, mostly to prop up the Market).
GW and his criminal gangs are going to do anything and everything to keep the economy propped up until Jan 20, 2009. After that is anyone's guess.
Does anyone wish to buy a country? Great deals are available on:
California - ignore the fires, it's just one of those years
Florida - ignore the beaches going under water, its nothing
West Virginia - you have to agree to take the people also
New York - we keep the baseball team
Lousiana - New Orleans is fixed up... no, no, REALLY, it is! _________________ When somebody makes a statement you don't understand, don't tell him he's crazy. Ask him what he means. -- Otto Harkaman, Space Viking
Posted: Fri Jul 11, 2008 7:09 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
jlw61 wrote:
KevO wrote:
peach!
Graet news.
Who TF are Fanny and Freddie?
Quote:
NEW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer?
And before anyone starts shouting about Tipping Points. No, this is not the tipping point. The Feds will step in, put together some mumo-jumbo paper work, say a few soothing words and let a few chips fall where they may (for show, mostly to prop up the Market).
GW and his criminal gangs are going to do anything and everything to keep the economy propped up until Jan 20, 2009. After that is anyone's guess.
Does anyone wish to buy a country? Great deals are available on:
California - ignore the fires, it's just one of those years
Florida - ignore the beaches going under water, its nothing
West Virginia - you have to agree to take the people also
New York - we keep the baseball team
Lousiana - New Orleans is fixed up... no, no, REALLY, it is!
Can we buy back Alaska? / Mr Putin _________________ Me Tar sands, you Jane
Posted: Fri Jul 11, 2008 7:11 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!
Posted: Fri Jul 11, 2008 7:19 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
hope_full wrote:
And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!
Almost heaven!
And Robert Byrd's name on every road, bridge, building, park, and house in the state. _________________ THE SIMPLE LIFE: One frozen pond, a few sticks, a little round puck, and a bunch of rowdy kids.
Posted: Fri Jul 11, 2008 7:33 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
hope_full wrote:
And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!
Posted: Fri Jul 11, 2008 7:36 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!
Posted: Fri Jul 11, 2008 7:43 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
hope_full wrote:
And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!
Posted: Fri Jul 11, 2008 8:29 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
Since we're keeping thigs light I'll throw in a perspective on acquiring California: saw a report which showed that if you broke the world up into oil consumers subcompartments, Cal is the 4th largest oil consumer on the planet. So if you're going to make a bid you better start getting those oil producting algae into high gear.
Joined: Dec 02, 2005 Posts: 6276 Location: Oil-addicted Southern Californucopia
Posted: Fri Jul 11, 2008 11:29 am Post subject: Re: CNN: Time to consider the 'doomsday scenario'
ROCKMAN wrote:
...saw a report which showed that if you broke the world up into oil consumers subcompartments, Cal is the 4th largest oil consumer on the planet...
Wow. I guess I shouldn't be surprised by that little stat, though. If California was a sovereign nation, it would have, depending on how you do the calcs, either the 6th, 7th, or 8th-largest economy in the world.
We're going to get our butts kicked so hard when Peak Oil really sets in... _________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Then stop driving to work, duh..... 
