Random Thoughts: Financial Apocalypse Edition
If you are to believe the pundits and financial commentators the end of the western economic model may be at hand, OK not all of them, but the DOOM and GLOOM and naysayers are out there. Is now the time to panic? No, it is not.
From the Blogosphere:
- Preet over at Where Does All My Money Go writes today about the single largest bank failure in the U.S. so far and how in Canada we have only had 2 small banks fail since the early 1900s.
- Michael James on Money wrote about Understanding the Current Financial Mess, at first I thought he was writing about my finances, but found out it was a Big Picture story .
- The Canadian Capitalist writes about Investor Reaction to Market Volatility , so far I haven’t heard of anyone jumping out their windows, so it seems to be better than in 1929.
- All About Nortel talks about how Moody’s has downgraded Nortel’s debt to “negative” from “stable”. Wonder what rating is lower than that for debt? Charmin?
- Ellen Roseman write about How to Invest in a Bear Market (two), pick your “bargains” wisely.
- Larry MacDonald asks the same question, Are Stocks a Bargain Now? , my answer is, I’ll tell you in six months.
- Paul Kedrosky takes a much more philosophical view with Voltaire, Batman and the Precipice , an interesting spin on the week’s events.
- An interesting side note from the National Family Childcare Association, accusing the NDP of not caring about Mom’s who stay at home, with the essay, NDP Thinks Moms Who Work at Home is Poppycock . An interesting thing to say during an election campaign.
No Fraud Payback Yet
Still have no resolution on the fraud on my bank account, and no payback from my bank yet either. Hopefully this can all be cleared up fairly soon.
More on this topic
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Your Humble Blogger is on Business News Network
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The Best Two Ways to Play Canada’s Economy, Currency And Natural Resources
(Investment U, 10/29/09)
Canada To Return To Full Growth, But Depends on Debt Cutting in the U.S.
(Shocked Investor, 1/21/10)
Guest Post: Moving Your Money Can Have a Real Effect on Big Banks
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September 26th, 2008 at 9:02 AM
Thanks for the link. Any ideas how we could create some bad debt for the US government to buy from us at inflated prices to get our slice of the $700 billion?
September 26th, 2008 at 9:41 AM
Give me a week, I can blow that kind of cash in Vegas in less than a week, but, there can’t be any video of it!
That is more than Canada’s National Debt, the Canadian Government could blow that much, and end up about $100B ahead of the game, which they’d blow on Hockey Cards and Penny Whistles
September 26th, 2008 at 12:07 PM
Thanks for the link. I don’t want to appear greedy. I’ll accept a low, low, $7 million for some bad debt.
September 26th, 2008 at 12:19 PM
Stop aiming low, you need to shoot for the fences, you can squander that much money, I have confidence in you!!!
September 27th, 2008 at 11:58 AM
Thanks for the link. Funny to think that AAA rated debt which went bad is the same rating a Government gets… Hope something is done about the ratings agencies. Seems possible that investors just assumed they knew what they were doing.