nnuut's Account Talk

[Buster]

I think we should be RAISING HELL!!:nuts:View attachment 4164

What you said!!!!!!!!

 

[FogSailing]

I think you guys are spot on. The situation is like cooking lobster...which just sit in the pan while you slowly raise the heat..They never make a fuss about being cooked alive...that sounds like what we're allowing to happen to us..

Our Government and the EU/Japan need to inact something (i.e. legislation) that somehow gets oversight on the hedge fund activity. Sinc hedge funds are not under any government oversight, we're feeling the effects.. markets should be free until prices are dictated through monoply or oligarchy..which is where we are..we need a new model for the good of everyone..

FS

 

[nasa1974]

What is really frustrating is that the price of oil has nothing to do supply and demand but how investors are manipulating the price. There was an article in our local paper talking about how retirement funds where investing in the oil funds to hedge inflation. Maybe the government is doing nothing about this because they are investing in oil also. MMMMM!!!

 

[nnuut]

I really don't understand the FEDs reason for not supporting the DOLLAR. What are they doing, I know, "It's a NoBrainer"!:nuts:

CURRENCIES
Dollar slips on mounting risk aversion

Rising oil, tumbling equities, financial jitters undermine greenback

By Lisa Twaronite, William L. Watts & Deborah Levine, MarketWatch
Last update: 4:07 p.m. EDT June 27, 2008

LONDON (MarketWatch) -- The dollar was flat to modestly lower against major currencies Friday, with increasingly risk-averse traders unwilling to buy the greenback as oil futures marched to new highs and equities lost ground.

DXY72.32, -0.04, -0.1%) , which measures the U.S. unit against a basket of major currencies, was at 72.306, compared with 72.480 in late North American trading Thursday.

The euro (C_EUR: european union euro intl currency
gained against the dollar to $1.5789 from $1.5760 Thursday after a report showing a measure of inflation came in lower than forecast, reducing speculation that the Federal Reserve will have reason to raise interest rates this year. The euro has risen 0.8% this week.

The dollar bought 106.17 yen, from 106.70 Thursday.
Core inflation, excluding food and energy, rose 0.1%, the Commerce Department said, compared with a 0.2% forecast. Consumer spending rose 0.8 % in May versus economists' median estimate of a 0.6% increase as people spent more of their tax rebates. See related story.
The Federal Reserve's rate-setting Federal Open Market Committee is now seen likely to leave its key interest rate on hold at 2% into the fall.
"U.S. data has been coming in on the weak side, and has led market participants to push back the timing of expected Fed tightening," currency strategists at Brown Brothers Harriman wrote in a research note.
Crude oil topped $142 a barrel, a new record, raising concern that having to pay more for fuel will slow U.S. consumer's ability to spend in other areas.
Meanwhile, the European Central Bank is widely expected to increase its benchmark rate next Thursday.
"It appears that the market will make another run at the all-time high around $1.60 in the coming days," Harriman analysts said.
Strategists at KBC Bank in Brussels acknowledged a positive technical footing for the euro, saying the push above $1.5655 clears the way for a test of resistance at $1.5845.
But they see limited room for big moves either way by the currency pair, arguing in a research note that both the Fed and the ECB have limited room for maneuver.
If the European economic situation "continues to deteriorate quickly markets will start to question the adequacy/room for aggressive ECB interest rate hikes further out in time, and if the ECB would stick to a tough anti-inflationary approach, this for sure will be seen as killing European growth," they wrote. "So, medium term we still see the $1.5840 area as strong resistance and look to sell" if the euro returns to that area.
Business and consumer confidence in the 15 countries that use the euro weakened significantly in June amid expectations the ECB will raise its key lending rate to 4.25% from its current level of 4%.
According to a European Commission survey published Friday, the overall measure of economic sentiment in the euro zone fell to 94.9 in June from 97.6 in May, having stood at 110.4 in July last year, just before the onset of the credit crunch. Economists had expected the Economic Sentiment Index to fall to 96.0
The Japanese yen strengthened in line with rising risk aversion, as benchmark stock indexes tumbled across Asia. Risk aversion typically prompts investors to unwind carry-trade positions, in which lower-yielding currencies are borrowed to invest in higher-yielding assets.
In Asian equities action, Japan's key Nikkei 2005 index plunged 2% and closed at the lowest level in two months, and other regional markets sold off as well. See Asia Markets.

Japan's Ministry of Internal Affairs and Communications said the core consumer price index, which excludes fresh food prices, rose 1.5% on year in May, the fastest rise since March 1998, when the index rose 1.8%. May's gain was greater than the average 1.4% forecast by economists. See full story.
Despite the rising inflation, most economists believe the Bank of Japan is unlikely to return to a tightening bias at its next policy meeting in July.
Since February 2007, Japan's central bank has kept its benchmark unsecured overnight call loan rate at 0.5%, the lowest in the developed world, making the yen a popular carry-trade currency.

"We do not see much chance of the current price upswing leading to a policy rate hike by the Bank of Japan since it is not linked to tighter economic supply-demand conditions and Bank officials are concerned about downside economic risk," said Mamoru Yamazaki, economist at RBS Securities in Tokyo.
"However, we also do not expect a rate cut, despite growing evidence of an economic slowdown, since the higher anticipated inflation rate reflecting increased prices has reduced the real interest rate," he wrote in a note to clients.
A separate set of data showed that Japanese industrial production rose 2.9% in May from the previous year.

 

[Corepuncher]

You know what the FED needs to do? A shock-and-awe interest rate hike...like > 1%. That would kick oil in the teeth.

The housing market is already in the tank...lower rates won't even help that. So how much more damage will another 1% on top of the current rate do? Financials are already at major lows...how much more damage would a 1% hike do there?

This, IMO, would help induce a capitulation in the financials...get it OVER WITH!!!! Then, with oil prices lowering, and a strong dollar, maybe we could get back on track again.

 

[nnuut]

I think 1% might be a little overkill, but you're right, Shock the hell out of them. The dollar will jump like a Rabbit and Oil will drop like a rock.

 

[Silverbird]

Personally, I think the Fed has done enough (collateral damage) and needed to re-asses what the affects of the Bear Sterns bailout and interest rate cuts are before proceeding. That being said, I think they will need to move those rates up next meeting, election or no election. Problem with Fed moves, they are rather indiscrimanate in their effects, they affect the entire economy. What annoys me is the SEC needs to do its regulation work, just having the Fed raise interest rates isn't enough to increase confidence in investing in the U.S.

 

[nnuut]

I surely am ignorant as to all of the ramafacations of raising interest rates, but they better do something to stop all of this speculation with oil and gas stocks, NOW:nuts:.

 

[luv2read]

raising interest rates will not affect the price of oil, it's in the hands of day traders, specs, and the oil companies -and I don't mean OPEC. There's plenty of oil, supply/demand has nothing to do with it.

 

[nnuut]

raising interest rates will not affect the price of oil, it's in the hands of day traders, specs, and the oil companies -and I don't mean OPEC. There's plenty of oil, supply/demand has nothing to do with it.

From what I've read raising rates will raise the value of the Dollar. This inturn will cause the cost of oil, gas and Gold in the USA to drop, because the dollar is worth more. Please correct me if I'm wrong.

 

[CountryBoy]

From what I've read raising rates will raise the value of the Dollar. This inturn will cause the cost of oil, gas and Gold in the USA to drop, because the dollar is worth more. Please correct me if I'm wrong.

Normally a strong dollar will lower the price of commodities, that's why folks run to them, particularly gold when the dollar drops in value. Oil should drop some, just becasue inflation should drop as the dollar strengthens, but there are so many factors and game playing by everyone, (including big oil and I'm pro big oil), that the dollar getting stronger may not have that big of an impact, but we gotta start somewhere getting this oil price under control or lower and every little bit helps and will add up. Just the thoughts of a fellow researcher.

Personally I say drill more, build more refineries (cause we barely have enough to refine the oil now) and at the same time make an Apollo like effort to come up with a realistic alternative fuel.

CB

 

[FogSailing]

Great comments all...The wealth of excellent thought and opinion on this forum never ceases to amaze me...it will be interesting to see if our government does anything legislatively, if the Fed does anything to strengthen the dollar, or if we're going to continue to take more hard punches from big oil and the hedge funders..

I think I'm going to reread my Declaration of Independence...I think there is something in there about having the right to clear the decks when the benefits to the many are stolen to benefit the few...but it also sounds like something I heard in StarTrek

FS

 

[nnuut]

Number One, Make it so! Very colorful, it's a SG thing!!

Dollar pain hits consumers
Falling dollar has pushed up oil, import prices, which are ultimately passed onto the consumer.

Last Updated: June 30, 2008: 10:52 AM EDT

Consumers are finding that when the dollar weakens their buying power deteriorates.

NEW YORK (CNNMoney.com) -- The weakened dollar isn't just wreaking havoc for Americans traveling overseas - it is hitting consumers right at home.
From soaring prices at the pump to rising food costs, the impact of the declining greenback has been far reaching.
"It touches on so many things when you think about it," said Dustin Reid, senior currency analyst at ABN AMRO in Chicago.
On Monday, the dollar managed a modest rebound against the euro, as the 15-nation currency bought $1.5756, down from $1.5775 late Thursday, but still remains far below where it was just a year ago. The greenback also gained against the British pound in morning trade, but slipped against the Japanese yen.
Oil and gas Many analysts have blamed soaring oil prices, at least in part, on the declining dollar.
Oil, like many other commodities such as wheat and gold, is priced in dollars. So if the greenback weakens, many investors buy the commodity at its current price to hedge against inflation. The drop in the value of the dollar also forces producers and traders to demand more in dollars for their oil in order to reflect its current value.
That increase, however, is not just reflected at the pump. Companies facing rising fuel and ultimately transportation costs often times are forced to pass those increases onto consumers.
Just last week, Dow Chemical Co (DOW, Fortune 500). announced plans to raise the price of its goods by as much as 25% as a result of rising energy costs.
Imports But consumers' pain doesn't end there. They are also getting squeezed by paying more for imported goods. [more]
http://money.cnn.com/2008/06/30/markets/dollar_impact/index.htm?postversion=2008063010

 

[Birchtree]

I blame the stinky Donkeys for the soaring price of oil. They been holding this country back for the last 30 years - and now comes another one wanting to increase the havoc.

 

[nnuut]

By George I think you've GOT IT Birchie!!!!! View attachment 4170
View attachment 4169

 

[nasa1974]

nnuut,

I am posting this information on a few accounts. It is on mine as well. Thanks for helping all of us.

Below is a link to govexec.com and an interesting article about our TSP. There are some people involved that represent us and positions and names are mentioned. We need to write these folks to try and improve our availibility to manage our accounts. With the market the way it is it would be nice if we could see 4 IFT's per month or at the very least move our trade time from noon eastern to 4 or 6pm eastern. I know that I am fairly new to the MB and others before me have tried to convince our politicians to help us but this may be an opportunity we shouldn't pass up. Let's see what we can accomplish.


http://www.govexec.com/story_page.cfm?articleid=40347&dcn=todaysnews

 

[nnuut]

We fought the GOOD FIGHT and lost. Then they started playing dirty pool. That doesn't mean that all hope is gone, but unless you can get some really big players in Washington to push it you're out of luck. They had their mind made up and there was no changing it. GO FOR IT!

 

[Steadygain]

We need to write these folks to try and improve our availibility to manage our accounts. With the market the way it is it would be nice if we could see 4 IFT's per month or at the very least move our trade time from noon eastern to 4 or 6pm eastern. I know that I am fairly new to the MB and others before me have tried to convince our politicians to help us but this may be an opportunity we shouldn't pass up. Let's see what we can accomplish.
http://www.govexec.com/story_page.cfm?articleid=40347&dcn=todaysnews

My friend,
You and L2R have a lot of back bone and I admire that, I really do.

It's nice to believe that our voices count for something, and that a unified effort may "make a difference" and I would never take from the importance of anyones' vote or their ability to influence a politician.

Before you exert a lot of energy and time on this matter consider a few things: 1) The ones who have done everything possible to make their voices known and block the limited ITFs represent a very small percentage of the TSP Contributors. By far the 99% are comfortable with "buy and hold". 2) The ones who were most vocal in this persuit came under fire - and were forced into hiding. 3) The matter is finished business - and not likely to be re-addressed anytime in the near future. 4) It would be very hard to gather an army who recently lost to the very same battle.

I do admire your courage to 'stand for what is right' and 'to encourage a better change for the whole'. Unfortunately the whole (99%) is nothing like us "the 3000".

 

[nasa1974]

Thanks Steady. But the FRTIB works for us and for some reason we have no say. Do we not pay thier expenses out of our bi-monthly contributions? It is a shame that the FRTIB bullied hard enough that some people felt intimidated (not that it hasn't happened before by other groups and political types) but the constitution does allow us certain rights. Anyway, I now that most of you feel pretty beat up and frustrated but a battle lost is not a lost war. If we feel strong enough that the FRTIB can do better for all TSPer's than the fight must go on. One battle at a time. "The 3000" can not give up hope but try to increase the 3000 to 6000. One battle at a time. We have to expect to get bloodied some time. But for years daily IFT's worked and did not cause any problems. But Barclays blinked and financials where on the brink and the FRTIB burned us to keep Barclays from tanking. Then they stronged armed those that complained (unethical by any standards). If not for that reason we can not give up. If we give up than intimidation and unethical techniques will continue even if we do nothing to provoke it. They want to force all government employees into the TSP. That alone should give a choice whether we want to make very little over 20 years or try to give us an opportunity to build a nice retirement package over 20 plus years. The current options will make a comfortable retirement difficult.

Sorry off my soapbox, but that is how I feel and how I see it.

May the force be with you.

 

[kar_crazy]

getting the crapp kicked out of us again when will the bleeding end:nuts: