I was wondering how long it will take before people who have lost their jobs start liquidating stocks to pay for the necessities of life? You have a LOT of unemployed bankers that have fairly high cash burn rates. Are we already seeing it?
How long before people start liquidating stocks...
- Thread starter nottyboi
- Start date
Thought the liquidation of stock has been ongoing since late 2007. Now it is the family jewells, the 2nd and 3rd mansions, the mistress, the mercedes, the van Gogh painting, the long stunning $2,000 leather coat, the Upper East Side duplex condo, etc.
Personally, I had to release my mistress about 3 months ago. Just spoke to her recently and she said that "sugar daddies" are really hard to find nowadays.
Those laid off investment bankers should find something useful to do with their lives, like open a bed and breakfast. Or, sell a kidney.
Personally, I had to release my mistress about 3 months ago. Just spoke to her recently and she said that "sugar daddies" are really hard to find nowadays.
Those laid off investment bankers should find something useful to do with their lives, like open a bed and breakfast. Or, sell a kidney.
Based on Cheney and Dubya, they sold them many moons ago.....danmand said:... they have neither a brain or a heart.
Loans guaranteed by "troubled assets" represent 40% of GDP, so once the finger pointing has been gotten out of the way, there is one huge headache there that is not going to go away any time soon.JohnLarue said:
The fundamental problem was and is that Americans have been living well beyond their means for a long time. In order to sustain it the United States government borrowed heavily from China, and private citizens borrowed heavily from banks.
The current solutions only discuss the private sector debt and ways to secure it. That in and of itself is a huge headache, but there are no easy solutions since simply transferring the debt to the public account does not actually make the debt go away.
It's going to take many, many years to unwind a problem that represents 40% of GDP just on the private side alone.
What are we replaying the rhetoric from Nov and Dec ? A lot of stocks have been dumped already - the hedge funds, investment banks, heck even the Caisse dumped huge amounts of equities. Anyone who is leveraged and still has equities needs to give their head a shake but a lot of the really big selling has happened.
Just my opinion, but there is still a higher probability of the markets going down futher than there is for them to go up.
Just my opinion, but there is still a higher probability of the markets going down futher than there is for them to go up.
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enduser1
Rockslinger said:
No actually Bernie Madoff is living in his seven million dollar condo and noshing on cream cheeze and lox bagels and dining at Le Cirqure. He is liquidating nothing. He is living the good life and so are the other Hedge Fund bosses. Its the idiots who bought and held for the long term for something called "retirement" who are getting screwed.
EU
Here is a sad but true story that occurred roughly 12 years ago. A distant friend told me that her parents had retired. As an Orthopedic surgeon he had accumulated a tidy nest egg and they lived in a "white gated community" in nice weather South Africa.enduser1 said:
Ran into my friend two years later and she said that her parents were living with her in her one bedroom apartment here in Toronto. Can you guess what happened to her parent's idyllic retirement?
