Comments on: Writedown news: 28 Aug 2008 http://www.creditwritedowns.com/2008/08/writedown-news-28-aug-2008.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2008/08/writedown-news-28-aug-2008.html#comment-231 Edward Harrison Fri, 29 Aug 2008 14:13:00 +0000 http://www.creditwritedowns.com/2008/08/writedown-news-28-aug-2008.html#comment-231 Hilarious. It is pretty spurious, huh? I think we are less than halfway through. <br/><br/><br/>What I'm hearing is: <br/><br/>1. Declines in the UK will be as severe as the US.<br/><br/>2. Ireland and Spain are also declining and will suffer major losses. There is the rumour that there may be bankruptcies in Spanish banking coming. Apparently the Baltics are getting hammered as well but there is little news on that.<br/><br/>3. A few bubble markets that have not hit the screen are now in decline: Denmark, Australia and Canada in particular.<br/><br/>4. In the US, prime loans are defaulting at a higher rate as are Alt-A<br/><br/>4. The global economy is having a recession, so thee will be inherent real economy feedback loops.<br/><br/>All of this says that Europe will see considerable losses (same order of magnitude as the US) and the US must see more as well.<br/><br/>I had been guessing $900 billion until about a month or two ago. Now, it's looking more like one-and a-half billion. Hilarious. It is pretty spurious, huh? I think we are less than halfway through.

What I’m hearing is:

1. Declines in the UK will be as severe as the US.

2. Ireland and Spain are also declining and will suffer major losses. There is the rumour that there may be bankruptcies in Spanish banking coming. Apparently the Baltics are getting hammered as well but there is little news on that.

3. A few bubble markets that have not hit the screen are now in decline: Denmark, Australia and Canada in particular.

4. In the US, prime loans are defaulting at a higher rate as are Alt-A

4. The global economy is having a recession, so thee will be inherent real economy feedback loops.

All of this says that Europe will see considerable losses (same order of magnitude as the US) and the US must see more as well.

I had been guessing $900 billion until about a month or two ago. Now, it’s looking more like one-and a-half billion.

]]> By: Mark Wadsworth http://www.creditwritedowns.com/2008/08/writedown-news-28-aug-2008.html#comment-229 Mark Wadsworth Fri, 29 Aug 2008 13:32:00 +0000 http://www.creditwritedowns.com/2008/08/writedown-news-28-aug-2008.html#comment-229 That $503.8 billion (I lvoe the spurious accuracy) takes us about half way to original estimates of $1 trillion. How much further do you think we have to go? That $503.8 billion (I lvoe the spurious accuracy) takes us about half way to original estimates of $1 trillion. How much further do you think we have to go?

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