{"id":184,"date":"2008-03-20T16:37:52","date_gmt":"2008-03-20T05:37:52","guid":{"rendered":"https:\/\/calltoreason.org\/?p=184"},"modified":"2008-11-10T14:47:43","modified_gmt":"2008-11-10T03:47:43","slug":"2008-recession","status":"publish","type":"post","link":"https:\/\/calltoreason.org\/?p=184","title":{"rendered":"2008 Recession"},"content":{"rendered":"

I just read these lyrics, to be sung to the tune of Queen’s Bohemian Rhapsody<\/em> on QT3 and just had to post them here.<\/p>\n

Is this the real price
\nIs this just fantasy
\nFinancial landslide
\nNo escape from reality<\/em><\/p>\n

Open your eyes
\nAnd look at your buys and see.
\nI’m now a poor boy
\nHigh-yielding casualty<\/em><\/p>\n

Because I bought it high,
\nwatched it blow
\nRating high,
\nvalue low<\/em><\/p>\n

Any way the Fed goes
\nDoesn’t really matter to me,
\nto me<\/em><\/p><\/blockquote>\n

<\/p>\n

Mama – just killed my fund
\nQuoted CDO’s instead
\nPulled the trigger, now it’s dead
\nMama – I had just begun
\nThese CDO’s have blown it all away<\/em><\/p>\n

Mama – oooh
\nI still wanna buy
\nI sometimes wish I’d never left Goldman at all.<\/em><\/p>\n

[guitar solo]<\/em><\/p>\n

I see a little silhouette of a Fed
\nBernanke! Bernanke! Can you save the whole market?
\nMonolines and munis – very very frightening me!
\nSuper senior, super senior
\nSuper senior CDO – magnifico<\/em><\/p>\n

I’m long of subprime,
\nnobody loves me
\nHe’s long of subprime
\nCDO fantasy
\nSpare the margin call you monstrous PB!<\/em><\/p>\n

Easy come easy go, will you let me go?
\nPeloton! No! We will not let you go – let him go!
\nPeloton! We will not let you go – let him go!
\nPeloton! We will not let you go – let me go!
\nWill not let you go – let me go!
\nNever let you go – let me go!
\nNever let me go – ooo<\/em><\/p>\n

Oh mama mia, mama mia,
\nmama mia let me go
\nS&P had the devil put aside for me
\nFor me, for me!<\/em><\/p>\n

[crescendo]<\/em><\/p>\n

So you think you can fund me and spit in my eye?
\nAnd then margin call me and leave me to die?<\/em><\/p>\n

Oh PB!
\nCan’t do this to me PB
\nJust gotta get out
\nJust gotta get right outta here<\/em><\/p>\n

[denoument]<\/em><\/p>\n

Ooh yeah, ooh yeah
\nNo price really matters
\nNo liquidity
\nNothing really matters…
\nNo price really matters
\nto me<\/em><\/p>\n

Any way the Fed goes…<\/em><\/p><\/blockquote>\n

Personally, I have a significant amount of money in the Malaysian markets via mutual funds so I’ve been watching developments fairly carefully. The recent jitters in the local market due to the recent elections sure didn’t do my heart any good, but over the longer term it’s clear that how this year turns out will depend largely on what happens in the United States.<\/p>\n

This whole situation frustrates me because it’s clear to me that it’s a case of Americans borrowing too much for too long, yet if they’re punished for it too severely, then the whole world economy is sent into a tailspin. On the other hand, not punishing them encourages ever greater excesses and make a mockery of the efforts of the people who actually try to live within their means.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

I just read these lyrics, to be sung to the tune of Queen’s Bohemian Rhapsody on QT3 and just had to post them here. Is this the real price Is this just fantasy Financial landslide No escape from reality Open your eyes And look at your buys and see. I’m now a poor boy High-yielding … Continue reading 2008 Recession<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[86,78,30,31],"class_list":["post-184","post","type-post","status-publish","format-standard","hentry","category-news","tag-economic-crisis","tag-funny","tag-recession","tag-subprime-crisis"],"_links":{"self":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts\/184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=184"}],"version-history":[{"count":1,"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts\/184\/revisions"}],"predecessor-version":[{"id":754,"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts\/184\/revisions\/754"}],"wp:attachment":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}