Why haven't you sold all of your liquid assets for hard assets, and moved out to a cabin in the mountains of Montana yet?
You can sit in a rocking chair, holding a shotgun, clutching bags of cold, hard cash, muttering about the end of the world. Just make sure you keep an internet connection, so I can keep receiving these awesome end of the world scenarios...they brighten my mornings :) On Tue, Jul 22, 2008 at 10:35 AM, Gruss Gott <[EMAIL PROTECTED]> wrote: > So here's how you can play at home - follow along with what's > happening daily. Here's the depression scenario: > > (1.) The collapse of bond insurers (MBIA, Ambac, FGIC and others). > They have guaranteed billions in collateralized debt obligations > (CDOs) which are becoming worthless. > > (2.) The banks that paid them for protection against default on their > CDOs and face more writedowns (Merrill, Citi and others) -- maybe $1 > trillion in the whole system. A big bank might go under. > > (3.) Writedowns will move from subprime mortgages to near-prime, to > prime mortgages, to commercial real estate, to auto loans, to credit > cards, to corporate buyout loans, to corporate bonds and derivatives. > > (4.) Lenders would then have to pull back on ~$2 trillion in lending, > according to a Goldman Sachs analysis. > > (5.) Financial losses spread to other world capital markets, > especially Europe. Credit spreads will keep widening. Equities, > housing, commodities, emerging market assets and the dollar will get > hurt. > > (6.) Home prices, down 8% currently, could fall by 20% to 30% total > before bottoming. > > (7.) Large recession or depression ensues, probably globally. Cash is > king. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;203748912;27390454;j Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:264344 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
