Asian Markets Soar 3% on Fannie Freddie bailout

Asian Markets Soar 3% on Fannie Freddie bailout

www.cnbc.com

Asian markets soared in the morning session Monday after the U.S. government took control of mortgage giants Fannie Mae and Freddie Mac. Japan, South Korea and Australia extended gains, surging over 3 percent.

The bailout was prompted by worries that Fannie and Freddies' shrinking capital and was aimed at shoring up the U.S. housing market and ward off more turbulence in global financial markets.

And that's giving regional financial stocks a boost. Japan's Mitsui Trust & Banking and Australia's Macquarie Group were up almost 10 percent. South Korea's Shinhan Financial and Singapore's DBS Group were also sharply higher.

(visit the link for the full news article)

I was wondering what would happen tomorrow. Looks like the dollar is going to get weaker because of the bailout. They will tell you that it's on fears of Ike, but I know better.

Looks like we will see stocks open higher tomorrow. This week is going to be a brutal roller coaster however.

www.cnbc.com
(visit the link for the full news article)

how can the government bail out those mortage brokers when the government itself is already £500 billion in debt?.

its just transfering the debt elsewhere,shoeing it under the carpet where no one can see it for a while ,yet still it festers and gnaws like termites at the overburdened foundations of a balsa wood economy.

chomp chomp.

reply to post by welivefortheson




We are Trillians in debt. The country has been bankrupt for many years.

Fannie, Freddie, Fascist Llewellyn H. Rockwell, Jr.

No, they have not been socialist entities either because they are privately owned. They occupy a third status for which there is a name: fascism. Really, that's what we are talking about: the inexorable tendency of financial fascism to mutate into full-scale financial socialism and therefore bankruptcy.

Fannie and Freddie aren't the problem, they're a symptom.

So what does today change? Absolutely nothing towards economic stability, and your children will be swallowed up in mountain of epic debt, because too many clowns called adults have no clue.

[edit on 7-9-2008 by Regenmacher]

Originally posted by welivefortheson
how can the government bail out those mortage brokers when the government itself is already £500 billion in debt?.

its just transfering the debt elsewhere,shoeing it under the carpet where no one can see it for a while ,yet still it festers and gnaws like termites at the overburdened foundations of a balsa wood economy.

chomp chomp.

Our debt is actually eighteen times that....

"how can the government bail out those mortage brokers when the government itself is already £500 billion in debt?."
The government knows its 500b in debt and doesn't care.
Why do you think that is?
Because it knows exactly how much money it has and can get.
It knows exactly how much money other country's owe it.
And that for the country to go bankrupt is along way from 500b in debt.
They can just create money out of thin air.
This is why you see them laughing.
They realize they have an endless supply of whatever the hell they want.
Everyday people don't see it.

Originally posted by Reddupo

Originally posted by welivefortheson
how can the government bail out those mortage brokers when the government itself is already £500 billion in debt?.

Our debt is actually eighteen times that....

To be fair he used Pounds as the currency unit, which given this news may be somewhere around 18-1 exchange with the dollar soon enough.