Lehman Bros. in Bankruptcy/B of A buys Lynch

#1
I need some quick advice. Lehman Brothers files for Bankruptcy and Bank of America is buying Merrill Lynch. I have a lot of money in Morgan Stanley and Fidelity. Should I pull it all out ASAP or sit this out..... Is there ANY chance Morgan Stanley is gonna follow in the foot steps of Lehman Brothers?? I hear it mentioned a lot. How The F*** did this happen !?!?! Who's watching the "hen house"???? Really appreciate any info, Thanks, Dudester
 
#2
"Dudester" said:
I need some quick advice. Lehman Brothers files for Bankruptcy and Bank of America is buying Merrill Lynch. I have a lot of money in Morgan Stanley and Fidelity. Should I pull it all out ASAP or sit this out..... Is there ANY chance Morgan Stanley is gonna follow in the foot steps of Lehman Brothers?? I hear it mentioned a lot. How The F*** did this happen !?!?! Who's watching the "whore house"???? Really appreciate any info, Thanks, Dudest
It sure are interesting times. This is something you will be telling your grandchildren about :)

The US and Dollar is føkked... period. Reason, to much debt.

My advice, even though I don't have an MBA, MSc, PHD or a life coach title, I'm just an information-computer-internet-junkie, is to move your money to either a credit union in the US of A, that is the least exposed to the credit mess and has lots of hard cash.

Alternative 2 is to move your money of out the US to a safe country and I belive that both Argentina and maybe Uruguay could be good options.... High risk, but you can make good money...

I know many will disagree, but this is my 2 cents/centavos ;) But search my name on this forum...

And if you want to sleep well, have as much hard cash as your a man to have with in an arms reach, hehe

I you want to read more of what's going on, I can recommend this forum. http://www.tickerforum.org/

Ok, that will be 1000 peso advice fee or a really nice dinner, hehe

-fredrik- aka -smartypants-
 
#7
"soulskier" said:
Stan, I am no economist, but won't this latest event affect almost everywhere in the world?
It will but it will hit hardest at places that are ill prepared, like Argentina. It's likely that commodity prices will continue south putting the government in a tough spot to keep funding all the spending there which has doubled in the last couple of years. Since Argentina is rated as a deadbeat in credit markets any financial needs are going to be hard to meet in the world credit markets.
This all makes the possibility of another economic meltdown there more likely.
 
#8
"Stanexpat" said:
Stan, I am no economist, but won't this latest event affect almost everywhere in the world?
It will but it will hit hardest at places that are ill prepared, like Argentina. It's likely that commodity prices will continue south putting the government in a tough spot to keep funding all the spending there which has doubled in the last couple of years. Since Argentina is rated as a deadbeat in credit markets any financial needs are going to be hard to meet in the world credit markets.
This all makes the possibility of another economic meltdown there more likely.
I would think that if the "bleep" continues to hit the fan and global inflation continues to grow, commodity prices would go up, not down.
 
#9
Commodity prices are falling and have been for a few months. Oil was under a $100 a barrel today. A worldwide economic slowdown(underway now) reduces demand for commodities and prices fall. Some people believed the recent high commodity prices were another bubble, we will have to see if this is true, but prices are falling.
Inflation will be falling due to this as well, much of the inflation we have seen world -wide recently was due primarily to oil prices. The concern about inflation may be over for the time being as a result.
Argentina looks like it will be in an environment of falling tax revenues, high inflation, out of control government spending, with little or no access to world credit markets. Not a very rosy picture for the future.
 
#10
Stan, thanks for explaining your thoughts.
What about food prices? I was under the impression they have been going up, benefiting Argentina when they aren't striking and not exporting.