"The Daily Outlook it's so bleak ... Saving every dollar of every week" - Dropkick Murphys "Tomorrows Industry" from the album 'The Meanest of Times'
It is now, as I figure it, day 505 since it has become completely obvious that the CDO derivatives need standardized (as was done with commodities), and put on a transparent exchange.
I’ve been right thusfar I hope (and pray) I am wrong about this one. But I see a new Depression as unavoidable.
I used to hear comments that the derivatives no-show hole was at least 45 trillion large. I found that difficult to believe. Why? Because trust was still within the system. That trust is fast disappearing. Since the proper steps have not been taken? I have no choice but to believe that the hole really is that big, and that’s why they don’t wish to create a CDO derivative exchange (and hopefully regulate, or get rid of the CDS's completely)
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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.