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BillKK

Listed below are comments made by BillKK between Thursday, 2nd April 2009 and Monday, 6th April 2009.

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A cuckoo in the stock market? 10:33am on 06 Apr 2009 People are getting desperate for all this horror to be over and everything to get back to normal. The gamblers at the Stock Exchange want the punters to come back. But it's all a mirage.

The recession is just getting started. Nothing has changed in the directors rooms. The same millionaires are still scratching each others backs and hoping their comfortable protected lifestyle can resume as soon as possible.

If no dramatic action is taken, like root and branch clearout of the robber barons, then the current sticking plaster fixes will ensure that we muddle on, gradually getting worse unemployment, then hitting bottom and bouncing along for years of depression.

Maybe it will get bad enough to force real action to be taken, but if not, we are in for a long age of suffering like Japan.
G20: The big money decisions 12:53pm on 02 Apr 2009 500 billion - Big Money?? That's peanuts.

Compared with the trillions lost in the CDS black hole.

There is an article speculating that the trillions in CDS contracts were deliberate fraud, mainly from AIG, that artificially inflated balance sheets all around the world.

If there is much behind this speculation then the whole business world is in serious, serious trouble.

http://www.ritholtz.com/blog/2009/04/aig-before-credit-default-swaps-there-was-reinsurance/

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