Rolling US Economy Into The Shitbin Thread

As a renter with no savings the whole thing fascinates me and in a way I am kind of rooting for it all to continue

me too! is all this good for us broke-renter guys in some way?

Who do you work for?

That's a good point - I work for a fairly recession-proof company right now

it could be really bad if the buy-to-let mortgage on the flat you're renting defaults and you come home to find yr stuff on the kerb, tho.

Love that the big board is crashing this morning.

it could be really bad if the buy-to-let mortgage on the flat you're renting defaults and you come home to find yr stuff on the kerb, tho.

― stet, Tuesday, 14 October 2008 14:57 (2 minutes ago) Bookmark Suggest Ban Permalink

See above the cook county Sheriff refusing to evict tennants where the banks have foreclosed on landlords.

is all this good for us broke-renter guys in some way?

probably not. harder-to-get mortgages = more people in the rental market.

+ more people renting out unsellable properties

+ more people return home after losing employment

a shitty economy is generally good for almost no one - at least short term

Roubini still preaching doom non-shocker
http://bloomberg.com/apps/news?pid=20601087&sid=a0AZ3ECSkvwc&refer=home

you have to admit that unless we are very careful this is doom delayed, rather than doom averted.

im totally going to ride the next bubble to riches ive decided

do we know what its going to be yet btw

woops

I don't think anyone is saying that we can avert a fairly painful recession. I think that the fear of imminent global financial collapse has receded a bit though.

yeah the current plan seemed obv but now the hard part is creating a new regulatory framework.

meanwhile, rejkjavik fap?

1.00 USD = 110.037 ISK
United States Dollars Iceland Kronur
1 USD = 110.037 ISK 1 ISK = 0.00908786 USD

yeah the current plan seemed obv but now the hard part is creating a new regulatory framework

Buffett's partner Charlie Munger has some interesting ideas on that score:

http://www.nakedcapitalism.com/2008/10/charlie-munger-leash-and-collar-wall.html

A pint in Iceland is about 500IKR, so prob not.

less than five bucks a pint? sounds fine to me

yeah word. do vikings expect tips

do we know what its going to be yet btw

― joseph sixpack (ice crӕm), Tuesday, October 14, 2008 5:41 PM (2 hours ago) Bookmark

green

soylent green?

as in weed btw

soylent weed is people!!!

"I've got some really killer Chong here. Try it, dude."

I don't think anyone is saying that we can avert a fairly painful recession. I think that the fear of imminent global financial collapse has receded a bit though.

Haha yeah I think most people have looking at a mere recession as being the best case scenario for some time now.

It's rude to tip in iceland.

Also I'm not sure those are valid rates. it was 350+ to the pound when the krona dropped off the market.

http://www.nytimes.com/2008/10/14/opinion/14herbert.html?_r=1&oref=login

http://sports.espn.go.com/nba/news/story?id=3643309

yeeeeeeeeessssss

Bob Herbert is such a weak-ass columnist. I mean really, "we're falling behind at Math" segueing into "the country is going down the tubes." It's like a column from the Morris County Daily Record or something.

I'm sorry, but there, I said it. Not to be controversial.

no, i think you're right in a way. but i dunno, i think most columnists i read in the post or times are pretty weak for most part. it's the rare times when one of them writes something interesting that i take note

And we're letting the juvenile delinquents run wild!

so, W just nationalized the banks? Gabriel Over the White House!

Bob Herbert needs some sleep

Taleb's `Black Swan' Investors Post Gains as Markets Take Dive
http://bloomberg.com/apps/news?pid=20601087&sid=aDVgqxiT9RSg&refer=home

HOOS otm

Bob Herbert is such a weak-ass columnist. I mean really, "we're falling behind at Math" segueing into "the country is going down the tubes."

lol english major.

http://sports.espn.go.com/nba/news/story?id=3643309

yeeeeeeeeessssss

― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Tuesday, October 14, 2008 4:40 PM (2 hours ago) Bookmark Suggest Ban Permalink

yah the writings been on the wall for a while - delicious fucking irony

i will do anything to keep the nets in NJ

*wink wink* maybe i already have *wink wink*

whoa awesome!

there's a tiny apartment building on the corner of bergen and like the railroad tracks that appears in my dreams, asking me to buy it, and in my dreams, i have the money

this slideshow james fallows posted is pretty awesome

tags: depression, recession

i meant to ask this earlier but o.nate what do you think about forcing investment banks to go back to being private partnerships? basic argument in favor is that it limits their ability to take risks and attract (excess) capital and that it allows firms to avoid runs on their stocks and become stuck in a confidence spiral

Useful, slides, tom.

Anyone else worried that the haircut involved in the US banking recapitalisation is too little or that the British one is too much?

wheeeeeeeeeeeee

i posted those slides like sooo long ago - but i dont hav special embedding mod powerz noooo

http://nymag.com/daily/intel/2008/10/matt_taibbi_and_byron_york_but.html

Matt Taibbi and Byron York Butt Heads Over Whether McCain Deserves Blame for the Wall Street Meltdown