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The real fun with these elevated Libor rates is the medium term effects (repos, liq funding) which arent evident immediately - so the real fun should start in the coming months!
Can't wait for my variable student loan rates to rise! Should make an already tight situation so much more enjoyable!
i'm right there with you bro. my esnlavement, i mean private student loans, are my only non-fixed rate debt.
the only hope for this country is a debt strike, esp. student loans and credit cards. it would do a trillion times more then years of marching.
Couldn't agree with you more! I wrestle with never having welche on a debt and working my ass off to not accumulte more debt and pay my bills, which is what the rest of the bastards in this country and the world should be doing. Versus just being like the other parasites and saying screw it if no one else pays why should I... interesting times we live in.
So far I pay all my debts because I can but that morality shit went out the window with TARP and the bank bail outs . Not just the Bailouts but the bonsuses and bribes that followed . Legalized insider theft by congress and their fascist families . Good luck to you and fuck them with their student loans made from stolen momey.
preach it brother.
things are going to get very desperate, it will be easier to mobilize resistance. we will crash the banks.
So let me get this straight.
You took the choice of going to university and its associated financial undertaking. Then you go all green eyed and socialist about it and imply its the banks' fault that you have debts.
Lastly, you go on a trading website where most other readers would think Genghis Khan spent too much on social social care and whinge about the choices you made as if it were someone else's fault.
I don't suppose critical/logical/rational thinking was part of your syllabus, was it?
i incurred these debts before the bailouts. when i took them out i fully intended to pay for them. i was unemployed for a time, still paid them. then the banks made bad bets at got bailed out. if they do not have to pay for bad choices, i do not either. that seems rational to me.
i do not intend to discontinue paying my gov consolidated loan, just private loans to bankers.
FUCK THE BANKERS
Read federal reserve regulation. Z.
You are the one who extended the credit.
Bankrupt entities haven't loaned anything since 1933.
then the banks made bad bets at got bailed out. if they do not have to pay for bad choices, i do not either. that seems rational to me.
not rational and not scalable. i do not defend the bank bailouts -- but what do you figure is your personal share of the cost?
given that bailouts were funded with imaginary/future money and your own tax liabilities are presumably low ... you would seem a beneficiary of decline in real value of your USD loan?
eff the bankers sentiment would have more credibility prior to cutting a deal in order to (over?)consume education.
dislike bankers? drop out of the system & find something more useful than agitation to contribute to society.
Moral considerations are long gone... I'd like to get some coordinated debt strike going, not just people not paying here and there. i want to bring the banks down hard. of course, a lot of recent grads can't pay whether they want to or not...
once things get more depsperate, i will start agittating for debt strike.
Different subject, what do you think would be more effective a debt strike or a taxpayer strike?
taxpayer strike would be effective too, though i think the fedgov would just sieze everything right away
I'm guessing you've never had the opportunity to study a payslip.
i suppose all you can do is stop your withholding...
Right. You're digging yourself a hole my friend and demonstrating colorfully how little you know of the word "withholding" It's not like I go to my employer, who direct deposits my check, and say "Hey bud, those taxes you withhold? Just give them to me. Thanks."
Taxpayer strike? That's pie in the sky shit. Debt strike? That is too. If you want to, file bankruptcy. That's what it's there for. Besides, what's the point in going on a taxpayer strike if there taxable base is disappearing more and more every month. Yeah at that point all 11 of us will really put the final nail in the money printing coffin, eh? Wrong.
I will be AMAZED if all of the unemployed debt slaves have the balls to actually live within their means, much less go on strike from anything like taxes/debt.
I yield the remainder of my rant to my fellow ZH'rs.
You got in debt. You made the decision, no one else did.
"It's not like I go to my employer, who direct deposits my check, and say "Hey bud, those taxes you withhold? Just give them to me. Thanks."
- You very easily COULD do that if you really wanted to...
All that is necessary is to file new W4 form with your employer that has your name at the top (no Social Security number is required), and the word EXEMPT in box 7.
Your employer is not liable to the government (nor legally empowered by the government) to withhold your earned income against your will.
And yes, I know people who have done this, In fact I know someone (a US citizen) who has worked since they were 16 without ever having paid a dime to the Federal Goverment.
Shouldn't you be on Yahoo!Answers?
More up your street, I would have thought.
Tyler, even though this chart and stats are great... The Euribor rate vs OIS in Europe presents a better picture of the overnight shit European Banks are having. It presents a load of pain at 0ver 80 basis points of ass fucking.
Quick liquidity snap from BBG: http://img51.imageshack.us/img51/1729/interbank290911.gif
At this point I think it is safe to say that there is a really good chance a Greek default of any kind will result in disaster via counterparty exposure.
If there was even a hint of a way out, the exit would have been taken by now. The relentless daily rumors only now seem to confirm that the EU is truly fucked.
The only game left that I can see is for the US to take it in the nuts really soon in order to yo-yo the attention and cash flows temporarily back. The only reason I can conceive for this would be a cooperative central bank effort to push China over the edge before the ponzi here is allowed to roll over and croak.
I say screw the middle-class asset stripping. There is a bigger game being played. The asset stripping is just a byproduct... an effect. It is the asshole bankers (scavengers of the worst type) that capitalize on this to make a buck.
Mr. Market says: Who's your daddy? :)
Can we PLEASE focus on the new tech toy coming out? or that HP has a new CEO? or...best of all...
"75% of this rally is real value buying" - a particular trading floor media shill
ITS NOT CSFB ANYMORE IDIOTS. ITS JUST CS.
CSFB is/was a brokerage house in NYC. CS is the bank.
Why does Barclays have so much funding stress at 1Y?
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