Saturday, October 04, 2008

The last epic US$700b bullet

In my last post, I said that this bill was the last epic bullet the government can fire.

And even with it, the TED spread failed to narrow (for what TED spread is and what it is important please refer to my the prior post just below).

I would say this. The market is NOT impressed by the government HAVING this bullet.

We know Big Game Hunter Paulson has this bullet in his chamber, but we don't know how he is going to fire it.

I would add this. Lets see how he is going to fire it. I think he will move before Asian Market opens.

Lets see how he fires it and whats the effect. He has said that the money will be spent buying crap with a 'reverse auction' method.

As to how my "06 Vintage Southern California Alt-A Liar Loans Mortgage with 700 pts Credit score borrowers" will compete with your "05 Florida Prime but Junior CDS" on price is anybody's guess.

I got a feeling a lot of US bloggers will flame every purchase as a dud.

Finally, as this tsunami is taking out commercial borrowers such as other corporations, even if US$700b sounds like a lot of money, how far can it go.

Keep looking at the TED spread my friends. It will be highly indicative of what happens.

1 comment:

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