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Odds 'n Sods:
Back in 2005, I
began warning SurvivalBlog readers that derivatives were
a much larger threat than the housing bubble. Now we read in the mainstream
media: The
$55 trillion question.
The article begins: "The financial crisis has put a spotlight on the obscure
world of credit default swaps - which trade in a vast, unregulated market that
most
people
haven't
heard of and even fewer understand. Will this be the next disaster?"
o o o
Safecastle
just a started an unusual 25%-off
Mountain House sale. The sale ends on October 14th. Get your order
in
immediately for the best selection!
o o o
The latest slug of bad news from our Economic Editor, who is recovering from
a recent surgery (please keep Cheryl in your prayers): USA
2008: The Great Depression -- The
Day Main Street Struck Back At Wall Street -- Credit
Markets Frozen As Banks Hoard Cash -- Western
World Will Become Significantly Less Wealthy -- ("Corporate America
has just lost a chunk of its value the size of the Indian economy.") -- Greenspan: "Gold
Is The Ultimate Form of Payment In The World" -- The
Truth About The Bailout ("'Hundreds of billions of dollars are going
to bail out foreign investors. They know it, they demanded
it, and the bill has
been
carefully written to make
sure that can happen." - Brad Sherman , D-California.' That's right folks.
You are going to have $700 billion - about 25% of the total Federal budget
- put on your personal credit card (via taxes forever) in order to bail out
foreign investors.") -- Marc
Faber: Bailout Won't Stop Depression; Buy Gold ("A stock rally in
the event that a [bailout] package is approved will be temporary and should
be used as 'an opportunity' to sell, said [Marc] Faber.") -- Inflation
In Stereo (The Mogambo Guru) -- $1
Quadrillion of Unregulated Debt at Core of Coming Derivatives Crisis -- Credit
Cards To Implode 1Q 2009: Analyst -- You
Won't Believe Where The $700bn Bailout Figure Came From ("Do you know where
that very important $700-billion figure came from? Here's a quote from that
Forbes story: "It's not based on any particular
data point," a Treasury spokeswoman told Forbes.com Tuesday. "We
just wanted to choose a really large number." They made it up to be sufficiently
ginormous to frighten everyone into rapid action. And it worked.") -- Interbank
Dollar Rate Hits 8% ("That high of around 8 percent is four times
the Federal Reserve's 2 percent target rate and more than double the cost of
borrowing
dollars for
three months
as indicated by Thursday's London interbank offered rate (LIBOR) fixing.") -- Derivatives
Deleveraging II, Debt Deflation, Gold & Bailout II -- Bailout
with 'sweeteners'
heads toward Senate win -- Bailout
with 'sweeteners' heads toward Senate
win -- And to cap all that from Cheryl, here are two
items
that
I
found
linked
at
The
Drudge
Report: Clinton:
'It Sounds Dire, But Commerce Could Stop' and Why
propping up banks will
not rescue a debauched financial system
o o o
Josh H. mentioned that there is a compatibility glitch in the Internet
Explorer 8 Beta 2 browser that prevents it from displaying some
web pages, including SurvivalBlog. But Josh quickly found
a "fix" for the problem. If you install I.E. 8 Beta 2, then follow-up
the installation with these simple "fix" steps:
Go to "Tools"
Go to "Compatibility View Settings"
Check the box "Display all websites in Compatibility View"
Click "Close"
This setting should be a "global" setting that "sticks" so
that SurvivalBlog will display properly during all subsequent visits.
