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alstry (36.08)

It is all Fiction Now.....

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April 09, 2009 – Comments (17)

Write down Assets(BAD LOANS) Last Quarter $10 Billion and sell them to the government for only a $7 Billion dollar loss this quarter an shazaaam.....you just made $3 Billion in Fictional profits........and watch everyone go nuts......

In the end.....you knew or should have known when those loans were made there was little chance they would ever perform....So the profits you reported a few years ago when the loans were originated were Fictional as well....but the bonuses you took were REAL!!!!!

Is there a familiar similarity to Madoff and his fictional business with ficitonal profits and fictional statements???????

Now your customers owe you over $30 Trillion dollars but they only have $6 Trillion in deposits......as a result....you have a pretty good idea that about $24 Trillion of loans are susceptible for future default as you jack up interest rates to a level that you know your customers can't pay.  So basically those $24 Trillion of loans that your are reporting as Assets could soon be fictional as well.......

To add insult to injury.....during this past 10 years of fictional profits and fictional financial statements which created inflated spending as a result of FU infected debt....take REAL jobs and transfer them overseas......so when we finally learn that this whole game was a Ponzi scheme of loaning money that the banks never really had in the first place.....there will be few jobs for any to be had......and even less money.....unless of course we go to war.....and then jobs will be plentiful as we drive the nation into even more debt......

At this point....we are playing hot potato with a hand granade......There is about $20 Trillion dollars of American Debt that is very vulnerable to contracting the FU virus.....$20 TRILLION.....this doesn't include Trillions of foreign debt as well.

The banks will tell you that they will have to raise interest rates due to rising defaults.....this will cause debt to default faster......which will cause banks to ask the government for even more money as millions will be thrown on the streets and/or lose their jobs.....

It ain't hard to see......there is simply not enough money to pay back the banks.....people will become more and more desperate to try to pay back debt while trying to buy food at the same time and put a roof over their kids heads......heavans forbid someone should get sick......

If Buffet is no longer AAA......nobody is.......

Prepare.....Don't Fear.....unless we restructure debt......things are about to get really interesting.

AS BANKERS SIT BACK LAUGHING AT YOU WITH THEIR BILLIONS IN REAL BONUSES!!!

17 Comments – Post Your Own

#1) On April 09, 2009 at 1:46 PM, jgseattle (30.47) wrote:

it is funny how earnings can be manipulated so the real number to look at is cashflow.

And do not forget that the big banks are actually buying bad assets to resell to the government. 

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#2) On April 09, 2009 at 1:55 PM, alstry (36.08) wrote:

jg,

At the end of the day, the taxpayer, the business, and the municipality can't pay back the debt.  IT IS MATHEMATICALLY IMPOSSIBLE FOR THEM TO PAY BACK DEBT WITHOUT SOME SORT OF RESTRUCTURING.

Right now the government is quiely funneling Trillions of taxpayer dollars to banks while kicking millions of American families out on the street.

The thanks the banks are giving is jacking up the interest rates on the American citizens.

In the end, the banks will be solvent and the taxpayers will have little or nothing as few will be able to afford to buy much of anything.......welcome to the NEW America.

The joke is that, except for a few, the entire country is sitting back and watching the theft of America right before their eyes.....

Prepare....don't Fear.......you know what is coming....unless we restructure debt...

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#3) On April 09, 2009 at 2:08 PM, kaskoosek (37.40) wrote:

It is mathematically possible if you print money and give it for free.

 

 

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#4) On April 09, 2009 at 2:43 PM, FreundInvesting (29.51) wrote:

kaskoosek:

Bingo! That's exactly what is happening.

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#5) On April 09, 2009 at 2:44 PM, alstry (36.08) wrote:

kas,

Keep on  dreaming.......

Here is a little reality for you:

3M offers early exit to 11 pct of its US workforce

Detroit may close 23 schools and lay off 600 teachers

U.S. ongoing jobless claims rise 95,000 to record 5.84 mln

The last number DOESN'T INCLUDE THE MILLIONS THAT HAVE CAN'T FIND REPLACEMENT WORK OR WORKING PART TIME.....

SAVINGS ARE EVAPORATING FOR MILLIONS.....EXPECT DISTRESS TO EXPLODE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

But if you think the government is going to hand out bags of money to the people to pay off their debts.......just please give me a little evidence to support your contention.

 

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#6) On April 09, 2009 at 2:57 PM, Billullo (< 20) wrote:

in my opinion instead of giving money to the banks why not give free money to all the people that filed taxes! problem solve! Thast if we want to live in lalaland!

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#7) On April 09, 2009 at 3:00 PM, RainierMan (74.30) wrote:

I think we just need to look at the recent survey of corporate CEO views of the economy to know what things are really like, despite banks miraculously going from insolvent to prosperous. The CEO are very pessimistic for at least the next 6 months. THEY know what's happening inside their own companies, and unlike the stock market, they are definitely not jubilant about the state of affairs.

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#8) On April 09, 2009 at 3:04 PM, Melaschasm (57.74) wrote:

While I am disgusted by this whole financial bailout mess, I have to disagree with claiming the current results are fictional. 

Once a bank sells bad loans, the cash they receive creates a real profit or loss based upon a comparison to book value.  Wells Fargo may still have billions in losses they have not declared, but if they can sell them at a premium to the government, then it will be taxpayers, not Wells Fargo that takes the loss.

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#9) On April 09, 2009 at 3:10 PM, alstry (36.08) wrote:

If the taxpayers can't afford to borrow from Wells Fargo......then how will Wells Fargo make any money?????????????

I guess there are a billion and a half debt free Chinese and Indians they can loan to.................;)

Heck...we gave our jobs.....now why don't we just give our money as well.....we Americans have always been a giving sort anyway.

It really is not that hard to see.....Congress and the Bankers have decided to outsource most of America to Asia.....soon most of America will be Ohio and Michigan......

you think I am joking??????????????????

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#10) On April 09, 2009 at 3:22 PM, angusthermopylae (39.92) wrote:

russiangambit has a post about the "interpretation" of the unemployment numbers...(yeah, it includes one of my diatribes as a comment...)

As an Ohioan, I'm trying to understand what it would be like if the rest of the country looked like us:

--The 4-wheeler would be the new SUV...and Britney and others could get new press coverage arriving at clubs and stores!

--"Git 'r done!" would be heard from the White House Press Secretary...

--Cornhole would be the official sport of events on the White House lawn.

*sigh* One can dream...

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#11) On April 09, 2009 at 3:31 PM, debtRichQuick (< 20) wrote:

This made me think of you Alstry.

http://www.costar.com/News/Article.aspx?id=A3B013D9BEED76C25B04A5D973FDD884&ref=100&iid=126&cid=16FE1A238EE2EF7C27B0BB0D337761B8

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#12) On April 09, 2009 at 3:36 PM, alstry (36.08) wrote:

As we move closer to Ohio and Michigan......

DETROIT—In the first quarter of the year, 271 auto dealers in the U.S. went out of business, according to the National Automobile Dealers Association, as car buyers stayed away from showrooms and credit remained tight.

The industry expects another thousand or so dealers to close this year....Alstry expects at least double that number.

You think Jim Rogers moved to China by accident??????

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#13) On April 09, 2009 at 3:41 PM, CrisDeVeau (< 20) wrote:

I'm finally glad someone touched upon the fact that a good percentage of the money circulating thouht the system now is fictional.

 

Top that off with the realization that approx. 60% of the working force that receives a paycheck only receives minimum wage, and ask yourself who is going to buy up the glut of re-posessed houses.

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#14) On April 09, 2009 at 4:27 PM, devoish (96.47) wrote:

CrisDeVeau,

2.3% of workers receive minimum wage or less.

http://www.bls.gov/cps/minwage2007.htm

Regards,

Devoish

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#15) On April 09, 2009 at 8:28 PM, alstry (36.08) wrote:

Dev,

But we have 16% of workers that have either dropped out of the workforce or working part time that want to work full time.

We are likely going to have massive wage cuts and job cuts over the next 12 months.

In the end, if doesn't matter if you are making minimum wage or $100K per year.....if you can't service your debt.....you are bankrupt.

My guess is 70-90% of American familes, businesses, and municipalities is vulnerable to bankruptcy.

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#16) On April 09, 2009 at 9:20 PM, dinodelaurentis (73.56) wrote:

Finally, a China Syndrome that will only last a decade or two!

Has anyone told Jon Stewart yet? He has been talking economic sense to the "mover and shakers" that appear on his show and i just feel that if he got upset with finacial news channels, he could run for a whole season with this bit of Q.E.D.!!!!!!!!!!!!

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#17) On April 10, 2009 at 8:28 AM, AGCAPS (56.68) wrote:

Interest concept that you are written by you. This translate in short words that we are on edge of economic collapse, and the dark age is a head of us. 

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