Tuesday, Jun 26, 2007
Lies Yet More Lies
Bloomberg: U.S. Stocks Gain on Easing Subprime Concern; Freddie Mac Rises
``The whole subprime mess has been basically looked over and not taken as a big concern,'' said Ted Parrish, who helps manage $1.3 billion at Henssler Financial Group in Marietta, Georgia.
Posted by dobber @ 06:53 PM (148 views) Add Comment
5 Comments
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1. Stoatgobbler said...
It's not lies. The CDO issue is a sideshow. US Housing is collapsing on its own, the consumer is going to stop buying, and that's where things go wrong because it is US consumers who are funding the Chinese which is in turn buying all the US debt. That is going to fall to bits, and that is going to be a BIG problem. Dow rallies are an excellent opportunity to make some dough.
2. deepak said...
Stocks gain: Actually they have fallen by close.
US Market rose by 100 point but fell like it did yesterday and its now in red
http://biz.yahoo.com/ap/070626/home_price_index.html?.v=1 will guide you though
3. dobber said...
For some reason the link i posted has been corrupted, please follow:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aueNVYy7yyG8&refer=home
4. dobber said...
The link is not working go to www.bloomberg.com
5. sold 2 rent 1 said...
I'm with Stoatgobbler on this one.
The CDO issue right now looks huge and could spread further than the sub-prime market.
The real issue set for the next 2 years is what will the US consumer do when they realise stocks and housing are both declining.
Once the US consumer stops spending, the debt stops being funded and US rates have to rise. There will be no "Greenspan put" this time.
In China, the heavy investments into factories start turning bad and millions of people who have relocated to the cities find themselves out of work.
We then have 2 super powers in trouble.