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09-18-2008, 04:25 AM
  #49
Sad London Ranger
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Quote:
Originally Posted by Devonator View Post
You know, my post secondary education was in business...Accounting and I took a few economic courses of course but I really have absolutely no clue what is going on and how serious this is with the Lehman brothers?

Without going into partisan politics, how bad is it and could all of this turmoil have a dasterdly effect on the economies of the world?

Could we really see another depression perhaps?

I figured some of you New Yorker's might know more what is going on versus this Albertan way out in Western Canada.

Take care
You ain't seen nothing yet my friend......
Can you imagine the world is worried about the financial strength of Goldman Sachs and Morgan Stanley.
this is not the world we knew, Merrill, Lehman folding on the same day? Is this business as usual????

Can you imagine Chinese or Saudi governments buying GS and MS. Can the US continue to bail these guys, and fight two wars at the same time? what happens if the russians and OPEC decide to tighten the the production to see us squirm? Sarah Palin's puddle of oil in Alaska won't do us much good.

My opininon on this is that its the long term aftermath of 9/11. Rather than letting the world slip into a recession the US Gment urged greenspan to find ways to stimulate the economy..... that ment doing things a prudent banker wouldnt' and keep our fingers crossed. It was unchartered territory. We upset the laws of financial physics.....now the goose is cooked.

Also after the great depression they split banks and investment banks. After 80 years we have come back full circle. Banks are back owning investment bankers.Go figure.

So Depression is nigh.....hold on to your hat. But at least we have Ranger season to
worry about.


Last edited by Sad London Ranger: 09-18-2008 at 04:44 AM.
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