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coolhand's Account Talk
- Thread starter coolhand
- Start date
coolhand
TSP Legend
- Reaction score
- 488
I can tell you what Birch would say. :cheesy:
crws
TSP Pro
- Reaction score
- 20
damn the torpedoes, full (S)peed ahead?
Will there be a weekend PR rescue?
http://finance.yahoo.com/news/Growt...9.html?x=0&sec=topStories&pos=1&asset=&ccode=
this calls for a hot cinnamon roll
Will there be a weekend PR rescue?
http://finance.yahoo.com/news/Growt...9.html?x=0&sec=topStories&pos=1&asset=&ccode=
this calls for a hot cinnamon roll
Boghie
Market Veteran
- Reaction score
- 284
CH,
This thing feels like early 2008. A couple of thousand miles away – but right next door financially.
But, the EuroZone makes the United States look like the epitome of the Puritan Ethic. They have very little flexibility in their financial system. They cannot tax their grubby citizens any more than they do now. They have tax rates only a socialist can love!!!
I don’t like this.
I don’t like it at all…
This thing feels like early 2008. A couple of thousand miles away – but right next door financially.
But, the EuroZone makes the United States look like the epitome of the Puritan Ethic. They have very little flexibility in their financial system. They cannot tax their grubby citizens any more than they do now. They have tax rates only a socialist can love!!!
I don’t like this.
I don’t like it at all…
coolhand
TSP Legend
- Reaction score
- 488
I didn't jump into the S because "I liked it". And fear is ramping back up quick. The MBs are full of it. This thing can turn back up just as easily as it can tank right now. Wonder what the CBs have up their sleeves next?
crws
TSP Pro
- Reaction score
- 20
I'm sittin' still. This market is schitzoid. This is still the big boys playing and they are scared sh*tless. Last one out of the pond is a rotten egg. Even good news over here is dwarfed by Europe and if the Euro will be history. Although I am inclined to move to F, I am skittish about the quality of the assets after all the BS involving the ratings agencies, so I am parkin in G, and contributing 80% to S. We'll see what news the weekend brings. Seems all the governments have left to loan is PR reassurance. If the market takes a hop on Monday, I may use the dip to swap half into F, as I was on the fence about that yesterday.
The rush to Gold by Europe investors almost looks like panic.
As a side note, anyone know why the gck10.cmx stopped refreshing?
The rush to Gold by Europe investors almost looks like panic.
As a side note, anyone know why the gck10.cmx stopped refreshing?
coolhand
TSP Legend
- Reaction score
- 488
coolhand
TSP Legend
- Reaction score
- 488
A Closer Look at the 1,000 Point Dow Plunge
http://www.ritholtz.com/blog/2010/05/a-closer-look-at-the-1000-dow-plunge/
http://www.ritholtz.com/blog/2010/05/a-closer-look-at-the-1000-dow-plunge/
grandma
Market Veteran
- Reaction score
- 38
I think one or two of you had brought up the possibility Friday of the stop orders, etc, might have been involved.
The transactions of $60 or more were nulled... does what he say means they should not have been?
Uptrend
TSP Pro
- Reaction score
- 74
It is highly suspicious that the market made a sudden stop and U turn, as the freefall was taking out stop loss pegs and executing orders at lightning speed on the way down. Some think the Gov PP team was involved in curbing the fall. It appears we may go back down there anyway!
coolhand
TSP Legend
- Reaction score
- 488
I think that's what he's saying. Assuming his theory is correct.
coolhand
TSP Legend
- Reaction score
- 488
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aH4XJoV4TE4w
Money markets are showing rising levels of mistrust between Europe’s banks on concern an almost $1 trillion bailout package won’t prevent a sovereign debt default that might trigger a breakup of the euro.
Money markets are showing rising levels of mistrust between Europe’s banks on concern an almost $1 trillion bailout package won’t prevent a sovereign debt default that might trigger a breakup of the euro.
coolhand
TSP Legend
- Reaction score
- 488
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1sRma6HgfXU
The euro slid to the lowest level in more than four years against the dollar on concern European measures to reduce fiscal deficits will undermine the 16-nation region’s recovery.
The shared currency dropped for a third day versus the yen before the euro area’s finance ministers meet in Brussels today and after European Central Bank President Jean-Claude Trichet called for a “quantum leap” in policy making. The pound fell to a 13-month low after U.K. Prime Minister David Cameron said the government uncovered “very bad” spending decisions by the previous administration and as a report showed London home prices fell for the first time this year.
“Short-term there is no obvious reason to think the euro is going to stop declining here,” said Sean Callow, a senior currency strategist at Westpac Banking Corp. in Sydney. “Growth is going to be extremely weak for a long time. Positioning clearly isn’t holding the euro back.”
The euro slid to the lowest level in more than four years against the dollar on concern European measures to reduce fiscal deficits will undermine the 16-nation region’s recovery.
The shared currency dropped for a third day versus the yen before the euro area’s finance ministers meet in Brussels today and after European Central Bank President Jean-Claude Trichet called for a “quantum leap” in policy making. The pound fell to a 13-month low after U.K. Prime Minister David Cameron said the government uncovered “very bad” spending decisions by the previous administration and as a report showed London home prices fell for the first time this year.
“Short-term there is no obvious reason to think the euro is going to stop declining here,” said Sean Callow, a senior currency strategist at Westpac Banking Corp. in Sydney. “Growth is going to be extremely weak for a long time. Positioning clearly isn’t holding the euro back.”
coolhand
TSP Legend
- Reaction score
- 488
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPPUF.2AtYOM
Crude oil fell for a fifth day in New York on concern Europe’s sovereign-debt crisis may derail the global economic recovery and reduce fuel consumption.
Oil entered its longest losing streak in five weeks as the euro extended losses against the dollar, damping the investment appeal of commodities. The price tumble this month is being driven by Europe’s debt crisis and is beyond the influence of the Organization of Petroleum Exporting Countries, Qatar’s Energy Minister Abdullah al-Attiyah said May 15.
“Oil inventories have been high for a long time and the market has ignored these high inventories until a couple of weeks ago, when the euro crisis really came to the forefront,” Victor Shum, senior principal with U.S. energy consultants Purvin & Gertz Inc., said in a Bloomberg Television interview from Singapore. “As long as the U.S. dollar remains strong, and the euro concerns remain intact, there’s going to be a lot of downward pressure on oil.”
Crude oil fell for a fifth day in New York on concern Europe’s sovereign-debt crisis may derail the global economic recovery and reduce fuel consumption.
Oil entered its longest losing streak in five weeks as the euro extended losses against the dollar, damping the investment appeal of commodities. The price tumble this month is being driven by Europe’s debt crisis and is beyond the influence of the Organization of Petroleum Exporting Countries, Qatar’s Energy Minister Abdullah al-Attiyah said May 15.
“Oil inventories have been high for a long time and the market has ignored these high inventories until a couple of weeks ago, when the euro crisis really came to the forefront,” Victor Shum, senior principal with U.S. energy consultants Purvin & Gertz Inc., said in a Bloomberg Television interview from Singapore. “As long as the U.S. dollar remains strong, and the euro concerns remain intact, there’s going to be a lot of downward pressure on oil.”
coolhand
TSP Legend
- Reaction score
- 488
http://online.wsj.com/article/SB100...70728420184.html?mod=WSJ_hpp_sections_opinion
The Greeks have always been trendsetters for the West. Washington has repudiated two centuries of U.S. fiscal prudence as prescribed by the Founding Fathers in favor of the modern Greek model of debt, dependency, devaluation and default. Prospects for restraining runaway U.S. debt are even poorer than they appear.
U.S. fiscal policy has been going in the wrong direction for a very long time. But this year the U.S. government declined to lay out any plan to balance its budget ever again. Based on President Obama's fiscal 2011 budget, the Congressional Budget Office (CBO) estimates a deficit that starts at 10.3% of GDP in 2010. It is projected to narrow as the economy recovers but will still be 5.6% in 2020. As a result the net national debt (debt held by the public) will more than double to 90% by 2020 from 40% in 2008. The current Greek deficit is now thought to be 13.6% of a far smaller GDP. Unlike ours, the Greek insolvency is not too large for an international rescue.
As sobering as the U.S. debt estimates are, they are incomplete and optimistic. They do not include deficit spending resulting from the new health-insurance legislation. The revenue numbers rely on increased tax rates beginning next year resulting from the scheduled expiration of the Bush tax cuts. And, as usual, they ignore the unfunded liabilities of social insurance programs, even though these benefits are officially recognized as "mandatory spending" when the time comes to pay them out.
The Greeks have always been trendsetters for the West. Washington has repudiated two centuries of U.S. fiscal prudence as prescribed by the Founding Fathers in favor of the modern Greek model of debt, dependency, devaluation and default. Prospects for restraining runaway U.S. debt are even poorer than they appear.
U.S. fiscal policy has been going in the wrong direction for a very long time. But this year the U.S. government declined to lay out any plan to balance its budget ever again. Based on President Obama's fiscal 2011 budget, the Congressional Budget Office (CBO) estimates a deficit that starts at 10.3% of GDP in 2010. It is projected to narrow as the economy recovers but will still be 5.6% in 2020. As a result the net national debt (debt held by the public) will more than double to 90% by 2020 from 40% in 2008. The current Greek deficit is now thought to be 13.6% of a far smaller GDP. Unlike ours, the Greek insolvency is not too large for an international rescue.
As sobering as the U.S. debt estimates are, they are incomplete and optimistic. They do not include deficit spending resulting from the new health-insurance legislation. The revenue numbers rely on increased tax rates beginning next year resulting from the scheduled expiration of the Bush tax cuts. And, as usual, they ignore the unfunded liabilities of social insurance programs, even though these benefits are officially recognized as "mandatory spending" when the time comes to pay them out.
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