Re: As the markets tank... Some Benchmark Stuff to distract you from the collapse...
Despite the newsgroup setting, this thread contains no Informix or technical database content at all. It is an off-topic political/economic argument from October 2008 about the financial crisis and the proposed US bank bailout: one poster argues the credit freeze will squeeze company sales and cost IT staff their jobs, while another counters that banks should be allowed to fail and that easy credit and regulation caused the mess. A third poster blames deregulation. No technical problem is posed and no resolution is recorded.
Auto-generated by DrWatson from the posts below — may be imperfect; read the full thread.
On Oct 1, 3:21 am, Obnoxio The Clown <obno...@serendipita.com> wrote: > What really needs to be done is for these banks to fail and the > government to limit their commitment to just the depositors' holdings. > As NWA would say: "Fuck da Bankaz". > > -- Yeah lets toss the economy back to the stone age. I've got enough acreage to farm, albeit there's a drought. Like I said, then my major expense will be for ammo. (Gator meat, snake meat, and wild hogs... ;-) The point is that the economy is starting to seize. Not a good sign and as customer sales drop, IBM will make you redundant.
Ian Michael Gumby said: > On Oct 1, 3:21 am, Obnoxio The Clown <obno...@serendipita.com> wrote: > >> What really needs to be done is for these banks to fail and the >> government to limit their commitment to just the depositors' holdings. >> As NWA would say: "Fuck da Bankaz". >> >> -- > Yeah lets toss the economy back to the stone age. > > I've got enough acreage to farm, albeit there's a drought. > Like I said, then my major expense will be for ammo. (Gator meat, > snake meat, and wild hogs... ;-) > > The point is that the economy is starting to seize. Not a good sign > and as customer sales drop, IBM will make you redundant. How will IBM make me redundant? They haven't bought *my* employer ... yet! :o) Seriously though, "they" were claiming that if the bailout didn't happen immediately, the world would end. The bailout didn't happen and the world didn't end, either. And I reckon the world won't end if it doesn't happen at all. I do think this is all a land grab by the banks and the longer the bailout takes to happen, the more obvious it's going to become. I don't see any indication of a visit to the stone age just because a bunch of Ball Street Wankers don't get their way. -- Bye now, Obnoxio http://obotheclown.blogspot.com/
On Oct 1, 12:42 pm, "Obnoxio The Clown" <obno...@serendipita.com> wrote: > Ian Michael Gumby said: > > > On Oct 1, 3:21 am, Obnoxio The Clown <obno...@serendipita.com> wrote: > > >> What really needs to be done is for these banks to fail and the > >> government to limit their commitment to just the depositors' holdings. > >> As NWA would say: "Fuck da Bankaz". > > >> -- > > Yeah lets toss the economy back to the stone age. > > > I've got enough acreage to farm, albeit there's a drought. > > Like I said, then my major expense will be for ammo. (Gator meat, > > snake meat, and wild hogs... ;-) > > > The point is that the economy is starting to seize. Not a good sign > > and as customer sales drop, IBM will make you redundant. > > How will IBM make me redundant? They haven't bought *my* employer ... yet! > :o) > > Seriously though, "they" were claiming that if the bailout didn't happen > immediately, the world would end. The bailout didn't happen and the world > didn't end, either. And I reckon the world won't end if it doesn't happen > at all. I do think this is all a land grab by the banks and the longer the > bailout takes to happen, the more obvious it's going to become. > > I don't see any indication of a visit to the stone age just because a > bunch of Ball Street Wankers don't get their way. > > -- > Bye now, > Obnoxio > > http://obotheclown.blogspot.com/ Replace IBM with any major company. When credit crunch squeezes sales, it squeezes income forcing management to take a "hunker down" mentality. You thereby become redundant and expendable. After all, you can be replaced and rehired when the economy comes back. Now if you've been paying attention, car dealerships, AT&T and other companies which require credit are getting squeezed. The economy is seizing up and unless you have liquidity, you're screwed. Vote out your Congress Critters who voted no for the bailout.
Ian Michael Gumby wrote: > When credit crunch squeezes sales, it squeezes income forcing > management to take a "hunker down" mentality. > You thereby become redundant and expendable. After all, you can be > replaced and rehired when the economy comes back. > > Now if you've been paying attention, car dealerships, AT&T and other > companies which require credit are getting squeezed. > The economy is seizing up and unless you have liquidity, you're > screwed. > There is a counter-argument that says that the economy has been overheated by an excess of easy credit and that a correction now will be painful, but not as painful as a correction later. What happened to careful financial management? What happened to acting prudently and living within your means? All this posturing about liquidity sounds more to me like a cheese-moving argument than an actual, justifiable case. > Vote out your Congress Critters who voted no for the bailout. > > Unfortunately, none of the useless shower in the UK are voting no. -- Cheers, Obnoxio the Clown http://obotheclown.blogspot.com
On Oct 1, 5:18 pm, Obnoxio The Clown <obno...@serendipita.com> wrote: > Ian Michael Gumby wrote: > > When credit crunch squeezes sales, it squeezes income forcing > > management to take a "hunker down" mentality. > > You thereby become redundant and expendable. After all, you can be > > replaced and rehired when the economy comes back. > > > Now if you've been paying attention, car dealerships, AT&T and other > > companies which require credit are getting squeezed. > > The economy is seizing up and unless you have liquidity, you're > > screwed. > > There is a counter-argument that says that the economy has been > overheated by an excess of easy credit and that a correction now will be > painful, but not as painful as a correction later. What happened to > careful financial management? What happened to acting prudently and > living within your means? All this posturing about liquidity sounds more > to me like a cheese-moving argument than an actual, justifiable case. > > > Vote out your Congress Critters who voted no for the bailout. > > Unfortunately, none of the useless shower in the UK are voting no. > > -- > Cheers, > Obnoxio the Clown > > http://obotheclown.blogspot.com So you suggest that we swing violently to the other extreme. No credit, means that the economy seizes and then the really fun begins. And of course as the US markets tank, so does the world. Unless you can afford to pay with cash, you can't afford it. So now we'll all be out of work. The irony, the very instruments that were to be used to reduce risk and exposure actually created the opposite. As to the bailout, our congress critters added "incentives" to get others to vote, making this much more expensive. Got to love the free world governments in action. But hey! What do I know? At least I have a farm and I could rent the neighbor's tractor... ;-) -G
Ian Michael Gumby wrote: > On Oct 1, 5:18 pm, Obnoxio The Clown <obno...@serendipita.com> wrote: > >> Ian Michael Gumby wrote: >> >>> When credit crunch squeezes sales, it squeezes income forcing >>> management to take a "hunker down" mentality. >>> You thereby become redundant and expendable. After all, you can be >>> replaced and rehired when the economy comes back. >>> >>> Now if you've been paying attention, car dealerships, AT&T and other >>> companies which require credit are getting squeezed. >>> The economy is seizing up and unless you have liquidity, you're >>> screwed. >>> >> There is a counter-argument that says that the economy has been >> overheated by an excess of easy credit and that a correction now will be >> painful, but not as painful as a correction later. What happened to >> careful financial management? What happened to acting prudently and >> living within your means? All this posturing about liquidity sounds more >> to me like a cheese-moving argument than an actual, justifiable case. >> >> >>> Vote out your Congress Critters who voted no for the bailout. >>> >> Unfortunately, none of the useless shower in the UK are voting no. >> >> -- >> Cheers, >> Obnoxio the Clown >> >> http://obotheclown.blogspot.com >> > > So you suggest that we swing violently to the other extreme. No > credit, means that the economy seizes and then the really fun begins. > > http://cafehayek.typepad.com/hayek/2008/10/on-frozen-credi.html > And of course as the US markets tank, so does the world. Unless you > can afford to pay with cash, you can't afford it. So now we'll all be > out of work. > > The irony, the very instruments that were to be used to reduce risk > and exposure actually created the opposite. > The irony is actually that the regulation that was supposed to prevent shenanigans *caused* more shenanigans. > As to the bailout, our congress critters added "incentives" to get > others to vote, making this much more expensive. Got to love the free > world governments in action. > As to the bailout, there's no guarantee it will work either. What happens if you chuck more bad money after good? -- Cheers, Obnoxio the Clown http://obotheclown.blogspot.com
Obnoxio The Clown wrote: > The irony is actually that the regulation that was supposed to prevent > shenanigans *caused* more shenanigans. No: What led to the crisis was massive deregulation and an abdication of oversight. It was only 8 years ago we had a balanced budget and an end-in-sight to our national debt. Now we are all wearing the blue dress. > As to the bailout, there's no guarantee it will work either. What > happens if you chuck more bad money after good? Then those of us that can move to the UK. Perhaps in December I will do more than just deliver two papers. <g> Daniel Morgan