| Quiet Renter
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Registered Dec 25, 2007
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Quiet Renter's most recent comments:
- On 16 Feb 2008
in
Liar Loans and Child Support,
Quiet Renter said:
"Put in perspective, 9/11 was just a major vandalism."
What 'perspective' would you like people to have? If someone pushes your mother down a flight of stairs, do you want to be told "Don't be upset, it happens all the time to other people."?
9/11 upsets democrats because, for a brief second, they had to stop being cynical crybabies and actually wonder what life would be like without this country that they hate so much. They had to pretend to be patriots, and they squirmed.
I am done with this board. Every attempt at a logical discussion of the economy devolves into worthless garbage. - On 15 Feb 2008
in
Liar Loans and Child Support,
Quiet Renter said:
http://money.cnn.com/2008/02/14/news/companies/privatestudentloans/index.htm?postversion=2008021512
People who are wondering where the next shoe will drop should look at student loans. The money is drying up fast, and it is student loan money that enabled outrageous tuition inflation for the last twenty years. The parents can't refi to send their kids to school anymore. That leaves student loans. If the kids can't borrow then they can't go. The schools will be suffering starting this fall, as qualified applicants fail to take their seats because the student loan companies are insolvent.
These schools prop up local economies the way overseas military bases do. Layoffs and halted construction projects will put the hurt on everyone. The government won't have the money to prop up the schools, and the bond market has collapsed so the schools won't be able to borrow directly.
The next big bailout is coming, right in time for the general election. - On 13 Feb 2008
in
Game changing?,
Quiet Renter said:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aue8imip6T3Q&refer=home
Rates on $100 million of bonds sold by the Port Authority of New York and New Jersey, with bidding run by Goldman, soared to 20 percent yesterday from 4.3 percent a week ago, according to data compiled by Bloomberg.
The auction failures provide new indication of Wall Street's unwillingness to commit capital amid $133 billion in credit losses and asset writedowns.
``It's the beginning of the end for the auction-rate market,'' said Matt Fabian, a senior analyst with Concord, Massachusetts-based Municipal Market Advisors. ``Banks have stopped supporting the market.''
I believe this is what is called an 'oh shit moment.'
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