Radio Free Wall Street 11/12/2008

Lee Adler, Russ Winter, and Aaron Krowne discuss the the latest news developments, Russ’s view that the process of repair is under way but flawed, and Lee’s long term outlook. Not a subscriber? Click here for a free extended preview of this podcast.

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4 comments for “Radio Free Wall Street 11/12/2008

  1. don
    November 12, 2008 at 11:54 pm

    “The US government’s hugely increased borrowing needs, even before numerous spending programs promised by president-elect Barack Obama, raise fundamental questions of where the cash will come from. A bizarre jump in the US Treasury’s real cost of borrowing – a case of the dog that barked, but shouldn’t have – points to severe market disruption if the Treasury deficit continues to rise. The administration’s response to the financial crisis, and Obama’s probable economic program, will deepen and prolong the economic downturn.”

  2. Douglas Tuttle
    November 13, 2008 at 3:19 am

    Your point that we cannot afford this is very real. Bernanke & Paulson probably see that moment coming and will just stop printing/stealing money. This thing is bigger than they thought, and its just getting beyond their control.

    These guys know they cannot let the treasury market collapse. They will let everything else go to save treasurires.

    This will cause a really giant sucking sound as the marginal companies just go out of business, including banks brokerages and insurance and auto companies.

    Of course these will all be ch 11’s, so the comapnies continue to operate, but may or may not pay their debts.

    That will be a disaster, but the US will retain something resembling solvency. The rest of the world may go under, but the US will be the healthiest country among an epidemic of insolvency.

    BTW: If you think China will triumph, read Roubini’s recent article about China’s real situation.

  3. t
    November 13, 2008 at 8:23 am

  4. Stuart
    November 19, 2008 at 3:23 pm

    #2, if the US defaults on any debt, no one will let it a wooden nickel.

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