American vision, Bailouts, Dilemas, understanding economic events, World events

Bail-inn 3d world countries or the USA


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It has been a while since my last post, it was difficult to write about what I saw coming down the pike without sounding sadly without any credible case. Now there is enough out there for the public to be willing to consider the drastic change in life styles and mind sets that will be needed to survive without becoming just a barely better economy than Mexico.

The fast pace in which the corruption of values and ethical standards from a critical mass of our Financial and Political leaders will require a strong public willing and ready to learn about the subject of economics and finance it is our responsibility if we do not pull ourselves by the bootstraps no one else will we the Joe Public types not Mr. Politician nor Mr. CEO

“Roughly once year the IMF, US Secretary and sometimes finance ministers of G7 countries get a phone call from the finance minister of a large emerging-market economy: …the country is rapidly running out of foreign reserves, lost access to capital markets, and that perhaps even lost confidence of its citizens. Without a large rescue loan, he country will be forced to devalue its currency and.”  This is how Mr. Roubini starts the introduction of his book “Bailout or bail-ins” co-authored with Brad Setser.

Eerily familiar, what sounds like corrupt dictators of a struggling African or Central American nation? reports:  AIG paid more than $40m in controversial retention bonuses to staff at its troubled financial unit in December, three months ahead of schedule, according to the resignation letter of an executive at the insurance group.

News of the decision to pay bonuses of $165m to staff at AIG sparked political outrage and protests in the US Congress, after the insurer was bailed out with $173bn of public money last year. Before the publication of the letter, momentum on draconian legislation to claw back bonuses had begun to slow.

Jake DeSantis, a manager in AIG’s Financial Products unit, said AIG “accelerated by three months [the payment of] more than a quarter” of the $165m of retention bonuses due to the division’s employees.

The President of the USA will arrive in Europe for a summit hosted by British Prime Minister Gordon Brown, while ”

European Union politician on Wednesday slammed U.S. plans to spend its way out of recession as “a way to hell.”

Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama’s massive stimulus package and banking bailout “will undermine the stability of the global financial market.”  Reported by Fox News

Will the strongest currencies dominate what may become the UN of finance and will that nation be China? Just consider:

China’s central bank yesterday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.

In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”. Reported by

But no matter what we will make it through, believe that work hard like you mean it, have a good day no matter what


American vision, Bailouts, Leadership, Uncategorized

3 days after The Bailout

Oct8 TheFall Aftert The Help:


I must clarify that am new at this and recently began to learn about the Market. I have written several posts already in this Blog, however I did not present the goals and vision statement of the RedeSerpent Blog. The Vision Statement will be located in the updated first post: “Hello a new world perspective”. It is a new world perspective because it will challenge me and the readers, I hope, to see the world with new eyes from the angle of ‘Our Paycheck’ and years ago it became clear how pervasive was Wall Street in the performance of my job meaning being laid off because the CEO is trying to protect the Investors. I have struggled to communicate to my peers that it is the process of maximizing profits from the Shares Market Value that has the biggest impact in our paychecks, quality of available parts in manufacturing, choices of design to implement and `many other aspects important to the vitality of Quality in Manufacturing. CEO’s easily bamboozle employees with a language foreign to the rank and file employee that sounds like Chinese: “Finance-ereese” heavy with the Wall Street dialect.

Well the failure of executives is exposed their denial persists. Mr. Sullivan was grilled by Congress this week for their dismal performance at AIG. After being shamefully humiliated with a Bailout They Spend over $400,000.00, tax money to pamper themselves like rich old women, certainly the code of the Samurai(remember Xerox’s book) did not apply to these frugal bunch that are looking out for financial welfare of the Investors. All of their talk cannot be hard over the loud hypocritical behavior

Came to the realization that this was the weakest point of my knowledge, global,affairs, the US economy and the main force that drives business decisions in the US to lay off workers, and the main reason why US legacy products have poor quality. and understanding of my financial welfare which is close to zero, zero is good, is Zen monk like. For years I have meditated and pursued a spiritual frugality of leaving no tracks behind. Well soon I discovered Sasquatch was following me, I could see the footprints behind me.

It was clear urgent that I would begin my education on this area, this is what this blog will reflect in part and in part how this affects our lives


Thursday October 09’08 7:00 am

DAX 5038.38 [+24.76 /// +0.49%]

Nikkei 9,157.49 [-45.83] /// -0.5]

FTSE 4420.72 [+54.03 /// +1.24%]


closed Wednesday October 8-’08

DJI:9258.10 [-189.01///-2.00%]
Nasdaq Composite 1,740.33 [-14.55///-0.83%]

SPDR S&P 500 ETF (AMEX:SPY) 97.51 [-2.52 /// -2.52% ]

WTI CRUDE FUTURE (USD/bbl.) $89.240 [+0.290 /// +0.33%]

GOLD 100 OZ FUTR (USD/t oz ) $887.2 [19.300 /// 2.13%]

WHEAT FUTURE(KCB) (USd/bu.) $649.500 [+11.5 /// +1.80%]



closed Tuesday Oct 7 ’08:

DJI: 9447.11 [ -508.39 /// %]; NASDAQ [1754.88 [-108.08 /// %]

Au(gold): [ /// %]; Ar(silver): [ /// %]AA


The 3d Day after the bailout, Wednesday October 8, the S&P falls bellow 1,000 points falling 5.7 %

US CDs: 5.58 [1 mo]; 5.44 [6 mo]; 6.51 [12 mo]

EURO CDs: 5.15 [1 mo]; 5.44 [6 mo]; 5.5 [12 mo]

US Libor: 3.93 {overnight]; 4.14 [1 mo]; 4.01 [6 mo]; 3.9 [12 mo]

Euro Libor: 4.48 [overnight]; 5.16 [1 mo]; 5.43 [6 mo]; 5.48 [12 mo]

from ////.

Libor rates from //