Sunday, Jul 20, 2008
Freddie Mac & Fannie May own or insurer of OVER HALF of US mortgages
Toxic Waste Offerings to Offset Big Losses: International Forecaster Weekly
Freddie Mac new Issue quickly approved by SEC, New offerings to absorb big losses, Gold escapes general pounding in the market, home builders sentiment index is at record low, depression is a real threat still. Note how the timing of this announcement, which came after markets closed on Friday as just noted above, was the same time frame used for the news about the IndyMac Bank closure. note how much US government and Freddie officials obviously believe Freddie to be undercapitalized after claiming outright only days ago that both Freddie and Fannie were and are adequately capitalized. Gold is resiliant. The CPI and PPI are at 26 and 27-year highs. Hedge funds are on the edge of oblivion. Bonds are producing negative rates. Credit markets are frozen. The greatest depression of all time.
6 Comments
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1. gardeniadotnet said...
From the article.....
The greatest depression of all time looms at our doorsteps. The barbarians are at the gates, but no one notices or cares. It is nothing short of surreal.
2. p. doff said...
It looks really bad. Our only hope is a New World Order to sort this mess out.
3. Planning4acrash said...
Our only hope is for p.doff to actually get p.doff with the situation. You seem far too calm for your namesake.
4. paul said...
I would take this more seriously if it weren't from the loon Bob Chapman.
5. renting2 said...
Naughty, Naughty p. doff!! You know you'll only get them started.
6. Planning4acrash said...
The Loon Bob Chapman was only the worlds largest gold broker, and he only has the world's largest commodities newsletter. Of course, Paul, I'm sure that you are more qualified than he to make a judgement.