Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - The ongoing financial turmoil and financial discussion thread

Claeren · 09-15-2008, 01:44 AM

Banks have 'only' declared losses of $350B so far. They should easily be looking at $1,000B (1 Trillion) by the time it is done so that means we are 'only' (at best) 1/3 of our way into this.

Another factor that I read will hit the markets tomorrow is that insurance companies are seen as one of the only relatively secure/liquid financial services sector companies left (depeneding on their internal portfolio mix of course) and they are going to be taking a hit on claims from all the hurricane damage this year.

I would be careful about bargain shopping right now.

Oh, and home prices are going to keep free-falling in the US and there is no way our home prices are going to start growing while that is happening....

If the 'Nation of America' (so to speak) had to put together a clear financial report for the public and the American public was smart enough to understand it I am pretty sure there would be some (1) big team fear and (2) a bigger push for meaningful change.

Claeren.

09-15-2008, 01:44 AM	#6
Claeren Franchise Player Join Date: Jul 2003 Location: Section 218 Exp:	Banks have 'only' declared losses of $350B so far. They should easily be looking at $1,000B (1 Trillion) by the time it is done so that means we are 'only' (at best) 1/3 of our way into this. Another factor that I read will hit the markets tomorrow is that insurance companies are seen as one of the only relatively secure/liquid financial services sector companies left (depeneding on their internal portfolio mix of course) and they are going to be taking a hit on claims from all the hurricane damage this year. I would be careful about bargain shopping right now. Oh, and home prices are going to keep free-falling in the US and there is no way our home prices are going to start growing while that is happening.... If the 'Nation of America' (so to speak) had to put together a clear financial report for the public and the American public was smart enough to understand it I am pretty sure there would be some (1) big team fear and (2) a bigger push for meaningful change. Claeren. Last edited by Claeren; 09-15-2008 at 01:50 AM.