TIP's: "You pay for the protection, it may not be the worst alternative. On gold: IMF is going to sell 11B worth of gold which is temporarily depressing. Not a safe investment; maybe a good investment but not a safe one." Good but not safe? It will be interesting to see how all of this finally shakes out.
The IMF won't sell an oz. of that gold but will continue to bring it up whenever gold needs a quick FED-induced drop. Even if $11BILL in gold were sold instantly to big buyers such as central banks, none of that gold will hit the normal market. It won't affect the price one bit, except in the rhetoric leading up to a potential sale.
TIPs are one of the worst things going considering they are currently net negative. Pretty poor for something that is supposed to keep you ahead of inflation. Seems to me that gold has out-tipped the "TIPs" by 10X or more over the past 7 years. Will the real "TIPs" please stand up.......
wait till the FED says no more cuts in basis points this next time around...confetti will fill the floors...then in a few months the "charmat bulk process" stink will hit the fan., and everyone on Wall Street will be clamoring for their favorite hangover medicine...or nearest tall building.
(my pre caffeine Saturday morning rant while the family still sleeps in)
No longer content to be able to rig the gold, silver, and metal's markets solely during the NYMEX time period, another tool has finally arrived that JPM and the boys can use. It's called NY Globex. If you check the bottom of the Kitco detailed daily chart you will now see Globex trading essentially 24 hrs per day. In other words, a place where JPM, Lehman, and all the FED's men can counter moves in Asia as they occur. No more late night conferences or phone calls when you have a live body right their in the chair working for you. So if gold starts to run overseas that market can be taken down with lightning speed. Globex can ensure that the big boy's gold instructions get through when other slower system are bogged down with sell or buy orders.
Read the above link for further details from Alex Wallenwein. He suggests Friday's takedown was in part due to the introduction of NY Globex. With the crappy financial reports on Friday (esp Citi's $5 BILL loss) gold should have run up. Alex suggests a disconnect for silver fast approaching and one for paper gold starting to build. The NYGlobex is just one more tool of the FED showing how desperate they are to control physical gold via the paper gold stocks and ETF's. He also sees the day when paper gold and real gold are selling for significantly different values.
For those trading in gold shares and ETF's, the game just became a bit more rigged against you. It was also ironic that GATA's Washington visit coincided quite well with the Friday smackdown. Welcome GATA!
I think I've been saying this for 6 months now. The USA is not alone. And this is supposed to support the EURO in what way?
Is the dollar weak or is the EURO strong. The pound has lost more ground against the Euro than the dollar in recent months. The dollarr was at 1.05 vs the Canadian dollar, now under 1.00. The EURO has been seen as a safety net. What happens when the the supermodels, grocery stores in NYC, and our Middle Eastern friends realize that nets are made with holes?
I think I've been saying this for 6 months now. The USA is not alone. And this is supposed to support the EURO in what way?
The Euro, being a strengthening currency against the slipping dollar, will see more oil dollars as the Euro becomes the new petro-dollar. That certainly benefits the Euro. But down the road, the Euro will experience the same short-comings of all fiat currencies. For now the Euro gains against the dollar.
The class distinction is getting more definition of late. There is a part of the population that can easily cope with this adjustment in prices, like $4 gas and $5 milk, in fact, it appears there are plenty of well heeled players out and about in the economic arena. But there is a signifigant part of the population that has been harmed and is reeling from these increases. The credit card companies that are getting hammered did so on the backs of the very consumers that can't pay their bills, they did indeed consume too many of their prey and now there are not enough paying consumers (mortgages, credit cards, car payments...) for them to prosper. The consumers have actually become the consumees.
There is a story called The Tragedy of the Commons that talks about an early English custom of having a common area for grazing the town's sheep. At first, the common pasture worked good, there was plenty of land and not too many sheep. As things became more successful and prosperous, the pastures became overgrazed and then were useless. It reminds me of everybody piling up on the consumer until the consumer fails.
Certainly not a time to discount those with the wherewithall, there are plenty of them and they are active. CNN interviewed George Soros today about what to do with the money. TIP's: "You pay for the protection, it may not be the worst alternative. On gold: IMF is going to sell 11B worth of gold which is temporarily depressing. Not a safe investment; maybe a good investment but not a safe one." Good but not safe? It will be interesting to see how all of this finally shakes out.
Where's that popcorn icon? >>
It's called socialism and many Americans as evidenced in this election are crying, stammering, whining and sniveling for more of it. Most cannot even define what it is, having to type the word into an online dictionary which is really pathetic. Most have abandoned the principles of what created the USA and what made the USA the greatest place in the history of mankind. They've decided that socialism is better although they don't really know what it is.
It's called socialism and many Americans as evidenced in this election are crying, stammering, whining and sniveling for more of it. Most cannot even define what it is, having to type the word into an online dictionary which is really pathetic. Most have abandoned the principles of what created the USA and what made the USA the greatest place in the history of mankind. They've decided that socialism is better although they don't really know what it is.
And more of it is coming.
Oh, and George Soros can go fk himself.
Oh, did I mention - that I agree with you?
Q: Are You Printing Money? Bernanke: Not Literally
To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!!
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man.
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
i thought Penn was a Commonwealth?? >>
With the level of taxation in Penn it resembles more of a socialist satelite
But even there, there's a lot of good people who are not a part of that regime
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
While I agree with you and jmski52, I live down here in Ron Paul country.
For many, many years I have thought very highly of him and in some ways I still do.
However, he does have some ideas that would be totally disastrous for our country.
With him, it's all or nothing, he doesn't seem to believe in compromise. If he did, he might have done far better on the national scene.
I'm sure those were protest votes against McCain and in the general election they will vote McCain.
I too, voted a protest vote in our primary, though it wasn't for Ron Paul. I voted to shut down the damn border and that meant only one candidate.
In the General, I'll hold my nose and vote McCain. The other two options are total Socialism or Marxism, whichever one finally gets the nomination.
Either way, McCain will win with ease. Against Hussein Obama, a closet Muslim, it would be a landslide of epic proportions.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Against Hussein Obama, a closet Muslim, it would be a landslide of epic proportions. >>
I generally think that just about all of what you write is levelheaded, but the "Closet Muslim" thing is a bit over the top, don't you think? Maybe you know something that the rest of us do not...if that's not the case, selling this sort of snake-oil is not what I'd expect from you.
<< <i>Against Hussein Obama, a closet Muslim, it would be a landslide of epic proportions. >>
I generally think that just about all of what you write is levelheaded, but the "Closet Muslim" thing is a bit over the top, don't you think? Maybe you know something that the rest of us do not...if that's not the case, selling this sort of snake-oil is not what I'd expect from you. >>
The Reverend Wright, his spiritual adviser, converted from Islam just last year. He did so at the urging of Louis Farrakan because it would reflect badly on Obama in politics. This was printed in the Wall Street Journal around 2 weeks ago and the mainstream media refused to pick this story up as Obama is their choice. All these years he has been preaching a mixture of Black Liberation Theology and Islam. Both are very bad if put into play.
The fact that he initially was raised in a Madrassa school is also something the media plays down to the point that few people even know of it.
So...... all these years as Obama has told us, he received his spiritual guidance from a Muslim adviser. Do a bit of study on Black Liberation Theology and what it's about. It all fits in with the stuff we've seen of Wright preaching God Damn America and so forth. It also fits into Islam beliefs.
He also has no problem hanging with a self confessed terrorist who bombed the Pentagon and several other buildings and still brags about it. He murdered US citizens and Obama considers him a good friend. He wasn't convicted due to a technicality, but he was guilty and still is. He only regret is that he didn't kill more people and set more terrorist bombs. Sound familiar? That's not the sort of person we need in charge today. Even Hillary has stated that she won't just pack up all our troops and run away. Obama promises to.
I still remember how he kicked his Grandmother under the bus, she was just your average white person is the quote he used, I believe.
I'm not the only one who believes Obama is really a closet Muslim, many have reached this conclusion but have held back because they would be called racists for it. More of this will come out if Obama gets the nomination, lots and lots more, you can bet on that. That's why I say he would lose to McCain in a tremendous landslide. The Dems do not know who they are voting for and we have the media to thank for that.
I don't use the term lightly. It's a conclusion I have come to agree with based on my reading and studies about this guy. He is very dangerous if put in the position of Commander in Chief. We'll look like France in four years if he has his way. I never thought I'd prefer Hillary over anyone, but the Dems have outdone themselves with this fringe, Islamo-inclined nut case. Not to mention his elitist attitude that we are just now learning about. If you know much about Muslims, you would know they look down on all others. I've personally had my fill of dealing with the Islamo fascist mindset. This guy is the last person this county should ever consider for high office. The fact that he is a US Senator, the most liberal in the Senate, BTW, says far more about the Democrat machine in Cook County than it does his qualifications.
Not trying to sell "snake-oil' by any means. Simply stating my opinion which is backed up by facts. I didn't really have any feelings about the guy, other than the fact he was an extreme liberal until I did some research and each bit led me to more revelations about this guy. He is one frightening individual if given the power to implement his true core beliefs.
For some reason I can't create a link, sorry. You can Google around on this issue and find more reading than you'll have time for but this one is a verry interesting read. Notice it comes from Canada, you'll never see this in any large metro newspaper in this country.
BTW, his original birth name was Barry Soetoro, Barrack Hussein Obama is his Muslim name. However, you can research all of this yourself, it's quite an eye opener. He was a devout Muslim in his youth and he took his Muslim Father's name. He has 3 half brothers who are all practicing Muslims and his background is regular reading throughout Indonesia. They are quite proud that America may actually elect a Muslim as President. Radical Islam there sees it as the ultimate nail in our coffin.
So, no, not selling anything. Just trying to spread the truth.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
I still remember how he kicked his Grandmother under the bus, she was just your average white person is the quote he used, I believe.
Glenn Beck's radio program had a caller who lived in the same neighborhood (in Hawaii) as Obama and his Grandmother while Obama was growing up. The caller said that there were no blacks in that neighborhood for Obama's Grandmother to cringe about when she was walking down the street. So, what's up with that, besides the blatant racism?
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!! >>
Yeah housing in the US is doing SO MUCH better. LOL. GE's CEO yesterday said US housing is in the worst shape since THE GREAT DEPRESSION. Top that. Unlike the US, New Zealand's responsible central bank doesn't bail out banks and speculators with panicked rate cuts. I'll be happy to place a bet on the kiwi against the dollar if you want. How about a time frame of a year and let's put a grand up.
Yes, this campaign has been very embarassing for most of Americans. Conspicuous sexism dipped in thinly cloaked racial agendas that end up in our computers, on our tvs, in our newspapers, all trying to tell us what we should believe...bummer. This is very unfortunate because there are actually substantial issues that need discussed like social security, Iran, Immigration, tax codes...actually a long list.
Let's not discuss political agendas here, it's an endless, no win circuituous argument and does not suit our purpose in this thread. There is no benefit to us here in discussing these things. Let's talk about the money, YEAH, that's the ticket. Let's talk about how to get it, how to keep it, what to do with it, how to invest it, what's going to happen to it, yeah, that's the ticket. Actually, I'm reading Donald Trump's book about how he want's me to be rich like him...hummmmm. Book report to follow but it is very compelling contemporary economic theory/discussion. Fun to read.
Excellent post Deadhorse.... It is very hard to fight the media in this country, however, this will be a long hot summer, and the truth will be laid bare for all to see. Obama is nothing but a thinly veiled 'vapor' image who will be made to dance by his puppet masters... If elected. We can only hope it will be recognized before disaster strikes. Cheers, RickO
Trump? Trump set himself up as a executive consultant to his companies, so he could drain the money as they went bankrupt again and again... yet have no responsibility. Not sure that's a goal to strive towards...
<< <i>This is very unfortunate because there are actually substantial issues that need discussed like social security, Iran, Immigration, tax codes...actually a long list. >>
You can discuss those issues until you're blue in the face, but it's ultimately pointless. You're never going to have an opportunity to do anything which might affect those policies- when it comes time to vote, you are instead given a "choice" between candidates pre-approved by the media and the ruling class. Once elected, those candidates are going to do whatever it is they want, regardless of what they told you they'd do during the campaign. And, unless you've got a congressman on the payroll, there's nothing you can do about it. Your rulers really don't care what you think.
The President, whomever it will be (or is), has very little power - Commander in Chief, Veto, Bully Pulpit - after that, it is congress that addresses the issues (even declaration of war - which Mr. Clinton did not wait for), and passes all substantive issues and decided direction of the country. There is way too much stock put in the power of the Presidency - and as usual - mostly by those who choose to remain uninformed, but vocal. Cheers, RickO
<< <i>There is way too much stock put in the power of the Presidency - and as usual - mostly by those who choose to remain uninformed, but vocal. >>
Agreed. I think it's mostly seen in people who don't like the thought of being responsible for themselves and their own well-being. And more specifically, they want someone else to blame when things don't go well.
<< <i>To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!! >>
Yeah housing in the US is doing SO MUCH better. LOL. GE's CEO yesterday said US housing is in the worst shape since THE GREAT DEPRESSION. Top that. Unlike the US, New Zealand's responsible central bank doesn't bail out banks and speculators with panicked rate cuts. I'll be happy to place a bet on the kiwi against the dollar if you want. How about a time frame of a year and let's put a grand up. >>
Joe,
It is obvious that you do not have a firm grasp of international monetary policy or the the theory of relativity. I have a rule of not preying on the uninformed or ignorant so I graciously decline your bet, as I have others. Good luck with your investments.
<< <i>To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!! >>
Yeah housing in the US is doing SO MUCH better. LOL. GE's CEO yesterday said US housing is in the worst shape since THE GREAT DEPRESSION. Top that. Unlike the US, New Zealand's responsible central bank doesn't bail out banks and speculators with panicked rate cuts. I'll be happy to place a bet on the kiwi against the dollar if you want. How about a time frame of a year and let's put a grand up. >>
Joe,
It is obvious that you do not have a firm grasp of international monetary policy or the the theory of relativity. I have a rule of not preying on the uninformed or ignorant so I graciously decline your bet, as I have others. Good luck with your investments. >>
Yeah I follow the advice of "uniformed" Warren Buffet and Bill Gates by buying foreign currencies. Those "uninformed" people have 40 billion each which is more than you'll ever dream of seeing. Your arrogance in thinking you know more than those 2 guys is astounding. You're just PLAIN CHICKEN but that's fine so long as you don't take shots at my analysis because I can and will rebut with facts anything you say. For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts.
<< <i>Yes, this campaign has been very embarassing for most of Americans. Conspicuous sexism dipped in thinly cloaked racial agendas that end up in our computers, on our tvs, in our newspapers, all trying to tell us what we should believe...bummer. This is very unfortunate because there are actually substantial issues that need discussed like social security, Iran, Immigration, tax codes...actually a long list.
Let's not discuss political agendas here, it's an endless, no win circuituous argument and does not suit our purpose in this thread. There is no benefit to us here in discussing these things. Let's talk about the money, YEAH, that's the ticket. Let's talk about how to get it, how to keep it, what to do with it, how to invest it, what's going to happen to it, yeah, that's the ticket. >>
I don't really think I was promoting any political agenda. Yeah, I did expose a Muslim in sheep's clothing as it seems few have any real clue. We all know plenty about Hillary and McCain, but Obama has been given a free ride with no scrutiny whatsoever.
What I was doing was simply pointing out how the media, much like our Government feeds us only what they want us to believe and in doing so, they do it in a manner such that we think we actually have a modicum of knowledge when we make the one choice we still can in the voting booth.
We're being fed exaggerations and lies and falsehoods made up from whole cloth; these things are certainly pertinent to the economy and that's one of the main subjects of this entire, rather historic(for this forum) thread.
We are at a tipping point and the ride downward doesn't look very inviting. All the while, any apparent relief or positive outlook for the economy as well as our Government is virtually non-existent. Our choices are mediocre to bad to scary frightening. Doesn't seem to bode well. While most of us here have taken precautions over the years and can probably tread water at the least to get through this thing for however long it takes, we should take little solace in that fact.
The chances of great suffering for many of our fellow countrymen are strong. I don't want to see tent cities popping up all over the US and I sure as Hell don't want to see their fates being decided by FEMA.
A worldwide depression would surely lead to war in the long run and that would absolutely effect our economic outlook as well as precious metals. I'd much rather see gold and silver remain far more valuable than a bag of rice or a box of lead projectiles.
While the pursuit of $$ remains a noble goal in a Capitalist society, and I am all for it, for myself as well as the rest of us around here, there is a bigger picture.
Sadly, these days, just keeping even is challenge enough.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
i thought Penn was a Commonwealth?? >>
With the level of taxation in Penn it resembles more of a socialist satelite
But even there, there's a lot of good people who are not a part of that regime >>
sorry....that went completely over my head ...i get it, i was being too "retentive" last evening
For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts.
Actually Joe, this annoys me. The housing slump in the US started nearly 3 years ago. It is just starting in New Zealand. I, personally dont recall having said that. I may have posted a link to an article that made that statement. In any case, NZ home sales may be at a 7yr low, but this has no bearing on home sales in the USA. Like I said earlier, you do not quite understand the theory of relativity. FWIW--you must not confuse total home sales, with existing homes sales, with new home sales. You will NEVER checkmate me anytime with facts. Your "analysis" seems to just be riding others' coattails. I forgive you though, as you seem to be young and impressionable. You'll grow out of it someday.
No problem, here, Deadhorse and I agree with your argument. I just don't want to waste our thread on some meaningless political diatribe that resolves nothing in the end kind of like the he said, she said types of things these discussions seem to degrade into.
<< <i>For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts. >>
Actually, the US housing market has now fallen to the lowest it's been since the Great Depression.
This includes all sales, not just new homes.
We're now talking in terms of 75 YEARS!!
Oh yeah, and the values are still dropping while our property taxes continue to rise.
The county can have my house for the evaluation price right now, as they have it valued for well over 150K than I could sell it for. If I could sell it at all.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts.
Actually Joe, this annoys me. The housing slump in the US started nearly 3 years ago. It is just starting in New Zealand. I, personally dont recall having said that. I may have posted a link to an article that made that statement. In any case, NZ home sales may be at a 7yr low, but this has no bearing on home sales in the USA. Like I said earlier, you do not quite understand the theory of relativity. FWIW--you must not confuse total home sales, with existing homes sales, with new home sales. You will NEVER checkmate me anytime with facts. Your "analysis" seems to just be riding others' coattails. I forgive you though, as you seem to be young and impressionable. You'll grow out of it someday.
Good luck with your investments. >>
You did put that in your post. You can't remember what you posted on the previous page!
If you don't pay attention to how the 2 richest people on earth invest, I feel sorry for you. You (think) you know everything and don't care what anyone else thinks and that's typical of young people. Don't drink and drive on prom night.
The best housing indicator is inventory which is 11 months (in reality is higher)and the highest since 1981. I would tell you to go to Calculated Risk's blog and see their analysis but you already know everything so there's no need. Tanta on that site spent decades in the mortgage industry but you know more than her I'm sure. Good Luck investing. (you don't need luck because you already know everything)
Oh yeah, and the values are still dropping while our property taxes continue to rise.
I recall reading somewhere once, that people lost their homes during the Depression because they couldn't pay the taxes and then they were foreclosed.
I also recall that a guy named Bernard Baruch made his money in bonds during the Depression. He apparently had access to cash and bought bonds when interest rates were high, selling the bonds when rates came down (and bond prices went sky-high).
It seems to me that the manipulators have brought rates down hard in order to jack up the prices of the bonds that they own. I would expect that if you had a peek at JPMorgan's or Carlysle's balance sheet that you would see bond holdings being sold right now, while bond prices are high.
Of course, none of this matters if you are the government and you can print money on demand, or if you are one of the big commercial banks who can get free money on demand.
How long is it before the first 30-day loan to JPMorgan is due? In a couple more weeks, we should get to hear just how all of the bogus mortgage paper is being re-packaged, again.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts. >>
Actually, the US housing market has now fallen to the lowest it's been since the Great Depression.
This includes all sales, not just new homes.
We're now talking in terms of 75 YEARS!!
Oh yeah, and the values are still dropping while our property taxes continue to rise.
The county can have my house for the evaluation price right now, as they have it valued for well over 150K than I could sell it for. If I could sell it at all. >>
Thanks for helping educate cohodk but he thinks he knows everything and won't listen to anyone else. GE's CEO said it's the worst since the Depression but cohodk knows more than him too.
<< <i>Oh yeah, and the values are still dropping while our property taxes continue to rise.
I recall reading somewhere once, that people lost their homes during the Depression because they couldn't pay the taxes and then they were foreclosed. >>
I don't doubt that one bit. My property taxes are virtually equal to my mortgage and they will go up another 10% next year. That's the way it works down here, pretty much everyone get a 10% increase and they can go back 5 years so that if they only raised it 6% one year they can then raise it by 14%. As long as they average 10% per year it's perfectly legal. The problem is, the money is going to support illegal aliens in our case. We've already lost our County hospitals to the illegal influx. They were bankrupted a few years ago.
The real outrage is that the state is sitting on over 5 billion $$ and it's growing. It's obvious we are being shafted. Taxes paid should equal costs, there should be no surplus.
Consider this, if you are 1 month late, you pay a 10% penalty, 2 months late is a 20% penalty, 3 months late and your taxes DOUBLE!!
At this absurd rate, they will double every 7 years. It wasn't like this only 4-5 years ago and it's virtually all due to illegal aliens. Their children occupy over 50% of the public school students. All the Southern Border States are dealing with this invasion and it's bankrupting us all.
Time was, the illegals really did come here for jobs. Now they come for the free services and welfare checks, plus Mexico empties their jails across our border. Even our prison population is majority illegals. When they murder US citizens, the Mexican Government pulls out all the stops, gets a World Court Order and demands we cannot execute them. Thankfully, the Supreme Court stepped in recently and said Texas is in charge of it's prisons and legal verdicts, but for years this held up our courts.
Time to step down from the soapbox and lower my blood pressure................
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Deadhorse, that was a v. g. post about mr obama. The rest of the nation will soon know about this gentleman.
Just a little different slant on N.Z. for some of you. I have a exporter who loads in my yard in SoCal. This exporter loads 40' shipping containers for Yokohama and Auckland. About half the stuff going out is his personal property. I am not going to divulge exactly what he buys but the containers are high value(not scrap). He THINKS that U.S.A. stuff is so cheap that it boggles his mind. He has NO PROBLEM selling stuff overseas and spends about 50% of his time here-----just filling containers.
Me thinks if the dollar still had hi value, he'd be out of a job. Or a lot less busy. The devaluation of the dollar is bringing them back into this country. I watch it first hand everyday.
<< <i>Oh yeah, and the values are still dropping while our property taxes continue to rise.
I recall reading somewhere once, that people lost their homes during the Depression because they couldn't pay the taxes and then they were foreclosed.
I also recall that a guy named Bernard Baruch made his money in bonds during the Depression. He apparently had access to cash and bought bonds when interest rates were high, selling the bonds when rates came down (and bond prices went sky-high).
It seems to me that the manipulators have brought rates down hard in order to jack up the prices of the bonds that they own. I would expect that if you had a peek at JPMorgan's or Carlysle's balance sheet that you would see bond holdings being sold right now, while bond prices are high.
Of course, none of this matters if you are the government and you can print money on demand, or if you are one of the big commercial banks who can get free money on demand.
How long is it before the first 30-day loan to JPMorgan is due? In a couple more weeks, we should get to hear just how all of the bogus mortgage paper is being re-packaged, again. >>
Yes, I understand quite a few folks (forget the fraction) lost their homes for back taxes. This thime is different though. Not different in bailing such folks out. Different in that is 7/10 of your neighbors lose to foreclosure, Eminent Domain (the "other ED" they don't do commercials on TV for) might be invoked to clear out the remnant 3/10 to transfer to Mr. Friendly Developer. It isn't as outlandish a theory as it sounds either. Just imagine the arguments to be made in that it will stimulate the local economy in employment to develop/build on that property.
I also think bonds are next in the queue. Speaking of them, I sure wouldn't want to be stuck right about now in any munis that aren't of the highest rating.
Interesting story on the local news last night. Folks are holding "Gold Parties". It seems that a "facilitator" will contact friends and then act as a host/hostess for the gathering at their home. The agent or buyer will come in, assess the weight and purity and make an offer with a check on the spot if the seller accepts. One seller was all giddy, when interviewed, because she got a check for $1000 for her junk gold; grinnin' ear to ear. The story also talked about having these things scheduled during the week and all weekends too. Must be a good business and with gold tanking (not) you would wonder why people would go into people's homes to get their gold.
Seems like a curious phenomenon to me that gold would be depressed, yet people are going to folks houses and buying their scrap gold. I can gather two things from this bit of cultural news: 1) If the lower level dealers are going to people's homes to buy their gold then somebody surely believes there is some pretty good value there. I suspect that they don't pay full spot, maybe 10% back to cover their time and effort. 2) Houston is not a good town to go around advertising that you are going to have a gold party at your house...very bad form. Can you imagine a robber busting into the venue, the dealer draws first and drops him and the poor homeowner is standing there with a dead guy bleedin' all over her deep pile Berber with cops swarming around in her house. Her friends and neighbors are calling their attorneys. Woah...take it to the pawn shop darlin', it's just so much easier.
Oh well, just a tidbit of cultural information to amuse the readers.
Interesting story on the local news last night. Folks are holding "Gold Parties". It seems that a "facilitator" will contact friends and then act as a host/hostess for the gathering at their home. The agent or buyer will come in, assess the weight and purity and make an offer with a check on the spot if the seller accepts. One seller was all giddy, when interviewed, because she got a check for $1000 for her junk gold; grinnin' ear to ear. The story also talked about having these things scheduled during the week and all weekends too. Must be a good business and with gold tanking (not) you would wonder why people would go into people's homes to get their gold.
Seems like a curious phenomenon to me that gold would be depressed, yet people are going to folks houses and buying their scrap gold. I can gather two things from this bit of cultural news: 1) If the lower level dealers are going to people's homes to buy their gold then somebody surely believes there is some pretty good value there. I suspect that they don't pay full spot, maybe 10% back to cover their time and effort. 2) Houston is not a good town to go around advertising that you are going to have a gold party at your house...very bad form. Can you imagine a robber busting into the venue, the dealer draws first and drops him and the poor homeowner is standing there with a dead guy bleedin' all over her deep pile Berber with cops swarming around in her house. Her friends and neighbors are calling their attorneys. Woah...take it to the pawn shop darlin', it's just so much easier.
Oh well, just a tidbit of cultural information to amuse the readers. >>
I saw that as well. I'd bet they are paying more like 20-25% back of spot and the homeowner is getting a cut or a break of some sort to host the event.
For many people, they have never been to a pawn shop and would never consider it. It's also amazing that they don't think coin shops buy precious metal jewelry. My fav B&M has loads of loose diamonds as well. You can buy them for 1/2 or less of what a jeweler would charge you.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
To get back to the subject at hand for a minute, I wonder if any of you could speak to the change in the economic climate that has taken place since the Bear Stearns deal took place.
Back then, gold spiked to $1,050.00, and it really did feel like the grim reaper had come to Wall St. looking for more souls.
Six weeks later, oil prices have gone on to record heights, yet gold has fallen 15%. Additionally, every day the news about housing, jobs, and the dollar stays bad yet the Dow seems to have stabilized and keeps inching northward.
Is what is happening just some anomaly, or have the patterns of the last couple years really shifted into something else?
<< <i>To get back to the subject at hand for a minute, I wonder if any of you could speak to the change in the economic climate that has taken place since the Bear Stearns deal took place.
Back then, gold spiked to $1,050.00, and it really did feel like the grim reaper had come to Wall St. looking for more souls.
Six weeks later, oil prices have gone on to record heights, yet gold has fallen 15%. Additionally, every day the news about housing, jobs, and the dollar stays bad yet the Dow seems to have stabilized and keeps inching northward.
Is what is happening just some anomaly, or have the patterns of the last couple years really shifted into something else? >>
No the climate is the same, its sugar coated now, but they plan on selling dollars, Same climate same high in oil. weakness in gold can be seen in euro trading.
the turn down in dollars is just ahead.
Humblepie
I have found power in the mysteries of thought.
It is always a question of knowing and seeing, and not that of believing.
Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.
The FED did a quick patch job on the dam that was about ready to burst: stuck a few fingers into holes, tossed in some sand bags, bought a few bags of concrete to slab on top of the cracks, etc. But the foundation continues to crack in other places. They have not fixed anything but just delayed the reckoning, which only be worse. Remember that the FED=JPM=Goldman so running a deal for JPM was in their own interest as well. The FED is trying to extend the time before the dam bursts so that all their buds' parachutes open wide as they jump.
This gold party thing is comical. People go out and pay a huge markup for gold jewelry and then decide to sell the stuff for no premium to melt (actually under melt) and they are grinning from ear to ear in the process as the hundred dollar bills are counted out. I don't get it. The first time I tried to sell a pair of diamond ear rings (appraised for $950) and was offered $150 I finally got "it." Maybe these jokers are selling their inherited gold jewelry. Either way I don't get it.
Gasoline could hit $7 a gallon in four years: CIBC (Canadian Imperial Bank of Commerce)
Crude predicted to top $200 by 2012 on tight supplies, pushing gas higher By Moming Zhou
Last update: 5:15 p.m. EDT April 24, 2008
SAN FRANCISCO (XXXXX XXXXXX) -- Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday.
Crude supplies are actually lower than some official estimates indicate, while demand is unlikely to fall anytime soon, according to a statement by analysts led by Jeff Rubin at CIBC, an investment bank. They forecast that these tighter supplies and continued strong demand will drive oil and gasoline prices to roughly double their current levels by 2012.
"It is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity," said Rubin. "Despite the recent record jump in oil prices, oil prices will continue to rise steadily over the next five years." CIBC says estimates by the International Energy Agency have overstated supplies because gains in production mostly come from natural-gas liquids. The front-month crude contract slid Thursday to $116 a barrel, after hitting a historic high of $119.90 a barrel Tuesday. Retail gas prices averaged $3.56 a gallon Thursday, according to AAA, a new record high. See Futures Movers. Some analysts, however, said crude prices could turn lower. Standard & Poor's predicted Thursday that crude prices could tumble to about $90 a barrel by the end of this year with the U.S. economy struggling in recession, though the range of that forecast is plus or minus $50.
Comments
The IMF won't sell an oz. of that gold but will continue to bring it up whenever gold needs a quick FED-induced drop. Even if $11BILL in gold were sold instantly to big buyers such as central banks, none of that gold will hit the normal market. It won't affect the price one bit, except in the rhetoric leading up to a potential sale.
TIPs are one of the worst things going considering they are currently net negative. Pretty poor for something that is supposed to keep you ahead of inflation. Seems to me that gold has out-tipped the "TIPs" by 10X or more over the past 7 years. Will the real "TIPs" please stand up.......
roadrunner
wait till the FED says no more cuts in basis points this next time around...confetti will fill the floors...then in a few months the "charmat bulk process" stink will hit the fan., and everyone on Wall Street will be clamoring for their favorite hangover medicine...or nearest tall building.
(my pre caffeine Saturday morning rant while the family still sleeps in)
No longer content to be able to rig the gold, silver, and metal's markets solely during the NYMEX time period, another tool has finally arrived that JPM and the boys can use. It's called NY Globex. If you check the bottom of the Kitco detailed daily chart you will now see Globex trading essentially 24 hrs per day. In other words, a place where JPM, Lehman, and all the FED's men can counter moves in Asia as they occur. No more late night conferences or phone calls when you have a live body right their in the chair working for you. So if gold starts to run overseas that market can be taken down with lightning speed. Globex can ensure that the big boy's gold instructions get through when other slower system are bogged down with sell or buy orders.
Read the above link for further details from Alex Wallenwein. He suggests Friday's takedown was in part due to the introduction of NY Globex. With the crappy financial reports on Friday (esp Citi's $5 BILL loss) gold should have run up. Alex suggests a disconnect for silver fast approaching and one for paper gold starting to build. The NYGlobex is just one more tool of the FED showing how desperate they are to control physical gold via the paper gold stocks and ETF's. He also sees the day when paper gold and real gold are selling for significantly different values.
For those trading in gold shares and ETF's, the game just became a bit more rigged against you. It was also ironic that GATA's Washington visit coincided quite well with the Friday smackdown. Welcome GATA!
roadrunner
Box of 20
<< <i>NY Globex Market debuts
roadrunner >>
great find...
<< <i>It's not just in the US either so don't expect anyone to bail us out like we've done other countries in distress for decades.
Germany is in shock as subprime gets worse >>
I think I've been saying this for 6 months now. The USA is not alone. And this is supposed to support the EURO in what way?
Is the dollar weak or is the EURO strong. The pound has lost more ground against the Euro than the dollar in recent months. The dollarr was at 1.05 vs the Canadian dollar, now under 1.00. The EURO has been seen as a safety net. What happens when the the supermodels, grocery stores in NYC, and our Middle Eastern friends realize that nets are made with holes?
Knowledge is the enemy of fear
The Euro, being a strengthening currency against the slipping dollar, will see more oil dollars as the Euro becomes the new petro-dollar.
That certainly benefits the Euro. But down the road, the Euro will experience the same short-comings of all fiat currencies. For now the Euro gains against the dollar.
roadrunner
A simple thought on the next fed meeting from fortune mag
http://money.cnn.com/2008/04/23/news/newsmakers/bernanke.commodities.fortune/index.htm
<< <i>"Am I failing to see something?"
The class distinction is getting more definition of late. There is a part of the population that can easily cope with this adjustment in prices, like $4 gas and $5 milk, in fact, it appears there are plenty of well heeled players out and about in the economic arena. But there is a signifigant part of the population that has been harmed and is reeling from these increases. The credit card companies that are getting hammered did so on the backs of the very consumers that can't pay their bills, they did indeed consume too many of their prey and now there are not enough paying consumers (mortgages, credit cards, car payments...) for them to prosper. The consumers have actually become the consumees.
There is a story called The Tragedy of the Commons that talks about an early English custom of having a common area for grazing the town's sheep. At first, the common pasture worked good, there was plenty of land and not too many sheep. As things became more successful and prosperous, the pastures became overgrazed and then were useless. It reminds me of everybody piling up on the consumer until the consumer fails.
Certainly not a time to discount those with the wherewithall, there are plenty of them and they are active. CNN interviewed George Soros today about what to do with the money. TIP's: "You pay for the protection, it may not be the worst alternative. On gold: IMF is going to sell 11B worth of gold which is temporarily depressing. Not a safe investment; maybe a good investment but not a safe one." Good but not safe? It will be interesting to see how all of this finally shakes out.
Where's that popcorn icon? >>
It's called socialism and many Americans as evidenced in this election are crying, stammering, whining and sniveling for more of it. Most cannot even define what it is, having to type the word into an online dictionary which is really pathetic. Most have abandoned the principles of what created the USA and what made the USA the greatest place in the history of mankind. They've decided that socialism is better although they don't really know what it is.
And more of it is coming.
Oh, and George Soros can go fk himself.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
And more of it is coming.
Oh, and George Soros can go fk himself.
Oh, did I mention - that I agree with you?
I knew it would happen.
Why We Will Never Return to a Constitutional Republic and Freedom
So make as much money as you can now.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
And doesnt this sound familiar.....Woeful--what a great word.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!!
Knowledge is the enemy of fear
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
i thought Penn was a Commonwealth??
<< <i>
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
i thought Penn was a Commonwealth?? >>
With the level of taxation in Penn it resembles more of a socialist satelite
But even there, there's a lot of good people who are not a part of that regime
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
While I agree with you and jmski52, I live down here in Ron Paul country.
For many, many years I have thought very highly of him and in some ways I still do.
However, he does have some ideas that would be totally disastrous for our country.
With him, it's all or nothing, he doesn't seem to believe in compromise. If he did, he might have done far better on the national scene.
I'm sure those were protest votes against McCain and in the general election they will vote McCain.
I too, voted a protest vote in our primary, though it wasn't for Ron Paul. I voted to shut down the damn border and that meant only one candidate.
In the General, I'll hold my nose and vote McCain. The other two options are total Socialism or Marxism, whichever one finally gets the nomination.
Either way, McCain will win with ease. Against Hussein Obama, a closet Muslim, it would be a landslide of epic proportions.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Against Hussein Obama, a closet Muslim, it would be a landslide of epic proportions. >>
I generally think that just about all of what you write is levelheaded, but the "Closet Muslim" thing is a bit over the top, don't you think? Maybe you know something that the rest of us do not...if that's not the case, selling this sort of snake-oil is not what I'd expect from you.
<< <i>
<< <i>Against Hussein Obama, a closet Muslim, it would be a landslide of epic proportions. >>
I generally think that just about all of what you write is levelheaded, but the "Closet Muslim" thing is a bit over the top, don't you think? Maybe you know something that the rest of us do not...if that's not the case, selling this sort of snake-oil is not what I'd expect from you. >>
The Reverend Wright, his spiritual adviser, converted from Islam just last year. He did so at the urging of Louis Farrakan because it would reflect badly on Obama in politics. This was printed in the Wall Street Journal around 2 weeks ago and the mainstream media refused to pick this story up as Obama is their choice. All these years he has been preaching a mixture of Black Liberation Theology and Islam. Both are very bad if put into play.
The fact that he initially was raised in a Madrassa school is also something the media plays down to the point that few people even know of it.
So...... all these years as Obama has told us, he received his spiritual guidance from a Muslim adviser. Do a bit of study on Black Liberation Theology and what it's about. It all fits in with the stuff we've seen of Wright preaching God Damn America and so forth. It also fits into Islam beliefs.
He also has no problem hanging with a self confessed terrorist who bombed the Pentagon and several other buildings and still brags about it. He murdered US citizens and Obama considers him a good friend. He wasn't convicted due to a technicality, but he was guilty and still is. He only regret is that he didn't kill more people and set more terrorist bombs. Sound familiar? That's not the sort of person we need in charge today. Even Hillary has stated that she won't just pack up all our troops and run away. Obama promises to.
I still remember how he kicked his Grandmother under the bus, she was just your average white person is the quote he used, I believe.
I'm not the only one who believes Obama is really a closet Muslim, many have reached this conclusion but have held back because they would be called racists for it. More of this will come out if Obama gets the nomination, lots and lots more, you can bet on that. That's why I say he would lose to McCain in a tremendous landslide. The Dems do not know who they are voting for and we have the media to thank for that.
I don't use the term lightly. It's a conclusion I have come to agree with based on my reading and studies about this guy. He is very dangerous if put in the position of Commander in Chief. We'll look like France in four years if he has his way. I never thought I'd prefer Hillary over anyone, but the Dems have outdone themselves with this fringe, Islamo-inclined nut case. Not to mention his elitist attitude that we are just now learning about. If you know much about Muslims, you would know they look down on all others. I've personally had my fill of dealing with the Islamo fascist mindset. This guy is the last person this county should ever consider for high office. The fact that he is a US Senator, the most liberal in the Senate, BTW, says far more about the Democrat machine in Cook County than it does his qualifications.
Not trying to sell "snake-oil' by any means. Simply stating my opinion which is backed up by facts. I didn't really have any feelings about the guy, other than the fact he was an extreme liberal until I did some research and each bit led me to more revelations about this guy. He is one frightening individual if given the power to implement his true core beliefs.
Edit to add an interesting read: http://canadafreepress.com/index.php/article/2462
For some reason I can't create a link, sorry. You can Google around on this issue and find more reading than you'll have time for but this one is a verry interesting read. Notice it comes from Canada, you'll never see this in any large metro newspaper in this country.
BTW, his original birth name was Barry Soetoro, Barrack Hussein Obama is his Muslim name. However, you can research all of this yourself, it's quite an eye opener. He was a devout Muslim in his youth and he took his Muslim Father's name. He has 3 half brothers who are all practicing Muslims and his background is regular reading throughout Indonesia. They are quite proud that America may actually elect a Muslim as President. Radical Islam there sees it as the ultimate nail in our coffin.
So, no, not selling anything. Just trying to spread the truth.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Glenn Beck's radio program had a caller who lived in the same neighborhood (in Hawaii) as Obama and his Grandmother while Obama was growing up. The caller said that there were no blacks in that neighborhood for Obama's Grandmother to cringe about when she was walking down the street. So, what's up with that, besides the blatant racism?
I knew it would happen.
<< <i>To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
And doesnt this sound familiar.....Woeful--what a great word.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!! >>
Yeah housing in the US is doing SO MUCH better. LOL. GE's CEO yesterday said US housing is in the worst shape since THE GREAT DEPRESSION. Top that. Unlike the US, New Zealand's responsible central bank doesn't bail out banks and speculators with panicked rate cuts. I'll be happy to place a bet on the kiwi against the dollar if you want. How about a time frame of a year and let's put a grand up.
Let's not discuss political agendas here, it's an endless, no win circuituous argument and does not suit our purpose in this thread. There is no benefit to us here in discussing these things. Let's talk about the money, YEAH, that's the ticket. Let's talk about how to get it, how to keep it, what to do with it, how to invest it, what's going to happen to it, yeah, that's the ticket. Actually, I'm reading Donald Trump's book about how he want's me to be rich like him...hummmmm. Book report to follow but it is very compelling contemporary economic theory/discussion. Fun to read.
Trump? Trump set himself up as a executive consultant to his companies, so he could drain the money as they went bankrupt again and again... yet have no responsibility. Not sure that's a goal to strive towards...
<< <i>This is very unfortunate because there are actually substantial issues that need discussed like social security, Iran, Immigration, tax codes...actually a long list. >>
You can discuss those issues until you're blue in the face, but it's ultimately pointless. You're never going to have an opportunity to do anything which might affect those policies- when it comes time to vote, you are instead given a "choice" between candidates pre-approved by the media and the ruling class. Once elected, those candidates are going to do whatever it is they want, regardless of what they told you they'd do during the campaign. And, unless you've got a congressman on the payroll, there's nothing you can do about it. Your rulers really don't care what you think.
<< <i>There is way too much stock put in the power of the Presidency - and as usual - mostly by those who choose to remain uninformed, but vocal. >>
Agreed. I think it's mostly seen in people who don't like the thought of being responsible for themselves and their own well-being. And more specifically, they want someone else to blame when things don't go well.
<< <i>
<< <i>To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
And doesnt this sound familiar.....Woeful--what a great word.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!! >>
Yeah housing in the US is doing SO MUCH better. LOL. GE's CEO yesterday said US housing is in the worst shape since THE GREAT DEPRESSION. Top that. Unlike the US, New Zealand's responsible central bank doesn't bail out banks and speculators with panicked rate cuts. I'll be happy to place a bet on the kiwi against the dollar if you want. How about a time frame of a year and let's put a grand up. >>
Joe,
It is obvious that you do not have a firm grasp of international monetary policy or the the theory of relativity. I have a rule of not preying on the uninformed or ignorant so I graciously decline your bet, as I have others. Good luck with your investments.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>To whomever it was who said they had currency in commodity based economies..
In New Zealand they kept interest rates unchanged in spite of......House sales slumped 53 percent in March from a year earlier to the lowest level in seven-years. Retail sales fell 0.7 percent in February and credit-card spending dropped 2.7 percent in March.
And doesnt this sound familiar.....Woeful--what a great word.
The currency market is the largest market in the world. Watch out when that bubble breaks. Just flock to safety in a juvenile basket of economies with diverse social, economic and political agendas. LMAO!!!! >>
Yeah housing in the US is doing SO MUCH better. LOL. GE's CEO yesterday said US housing is in the worst shape since THE GREAT DEPRESSION. Top that. Unlike the US, New Zealand's responsible central bank doesn't bail out banks and speculators with panicked rate cuts. I'll be happy to place a bet on the kiwi against the dollar if you want. How about a time frame of a year and let's put a grand up. >>
Joe,
It is obvious that you do not have a firm grasp of international monetary policy or the the theory of relativity. I have a rule of not preying on the uninformed or ignorant so I graciously decline your bet, as I have others. Good luck with your investments. >>
Yeah I follow the advice of "uniformed" Warren Buffet and Bill Gates by buying foreign currencies. Those "uninformed" people have 40 billion each which is more than you'll ever dream of seeing. Your arrogance in thinking you know more than those 2 guys is astounding. You're just PLAIN CHICKEN but that's fine so long as you don't take shots at my analysis because I can and will rebut with facts anything you say. For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts.
<< <i>Yes, this campaign has been very embarassing for most of Americans. Conspicuous sexism dipped in thinly cloaked racial agendas that end up in our computers, on our tvs, in our newspapers, all trying to tell us what we should believe...bummer. This is very unfortunate because there are actually substantial issues that need discussed like social security, Iran, Immigration, tax codes...actually a long list.
Let's not discuss political agendas here, it's an endless, no win circuituous argument and does not suit our purpose in this thread. There is no benefit to us here in discussing these things. Let's talk about the money, YEAH, that's the ticket. Let's talk about how to get it, how to keep it, what to do with it, how to invest it, what's going to happen to it, yeah, that's the ticket. >>
I don't really think I was promoting any political agenda. Yeah, I did expose a Muslim in sheep's clothing as it seems few have any real clue. We all know plenty about Hillary and McCain, but Obama has been given a free ride with no scrutiny whatsoever.
What I was doing was simply pointing out how the media, much like our Government feeds us only what they want us to believe and in doing so, they do it in a manner such that we think we actually have a modicum of knowledge when we make the one choice we still can in the voting booth.
We're being fed exaggerations and lies and falsehoods made up from whole cloth; these things are certainly pertinent to the economy and that's one of the main subjects of this entire, rather historic(for this forum) thread.
We are at a tipping point and the ride downward doesn't look very inviting. All the while, any apparent relief or positive outlook for the economy as well as our Government is virtually non-existent. Our choices are mediocre to bad to scary frightening. Doesn't seem to bode well. While most of us here have taken precautions over the years and can probably tread water at the least to get through this thing for however long it takes, we should take little solace in that fact.
The chances of great suffering for many of our fellow countrymen are strong. I don't want to see tent cities popping up all over the US and I sure as Hell don't want to see their fates being decided by FEMA.
A worldwide depression would surely lead to war in the long run and that would absolutely effect our economic outlook as well as precious metals. I'd much rather see gold and silver remain far more valuable than a bag of rice or a box of lead projectiles.
While the pursuit of $$ remains a noble goal in a Capitalist society, and I am all for it, for myself as well as the rest of us around here, there is a bigger picture.
Sadly, these days, just keeping even is challenge enough.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
The trillion-dollar mortgage time bomb
Good luck in your investing.
For perspective's sake. The revenue of IBM is the same as the GDP of New Zealand. The revenue of WMT is greater than the GDP of Poland.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>Thank you jmski52, you are a true American .
Meanwhile, Ron Paul received more than 128,000 votes in the peoples republic of Pennsylvania, despite a near total media and gop blackout of this great man. >>
i thought Penn was a Commonwealth?? >>
With the level of taxation in Penn it resembles more of a socialist satelite
But even there, there's a lot of good people who are not a part of that regime >>
sorry....that went completely over my head
Actually Joe, this annoys me. The housing slump in the US started nearly 3 years ago. It is just starting in New Zealand. I, personally dont recall having said that. I may have posted a link to an article that made that statement. In any case, NZ home sales may be at a 7yr low, but this has no bearing on home sales in the USA. Like I said earlier, you do not quite understand the theory of relativity. FWIW--you must not confuse total home sales, with existing homes sales, with new home sales. You will NEVER checkmate me anytime with facts. Your "analysis" seems to just be riding others' coattails. I forgive you though, as you seem to be young and impressionable. You'll grow out of it someday.
Good luck with your investments.
Knowledge is the enemy of fear
interst rate in NZ is about 8%, hasn't it been common for Japan to sell yen @1% and then put it into some kinda instrument as in in NZ for 8%?
maybe I am talking rice to kiwi here, isn't this like the TCX?
what's wrong with that?
<< <i>For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts. >>
Actually, the US housing market has now fallen to the lowest it's been since the Great Depression.
This includes all sales, not just new homes.
We're now talking in terms of 75 YEARS!!
Oh yeah, and the values are still dropping while our property taxes continue to rise.
The county can have my house for the evaluation price right now, as they have it valued for well over 150K than I could sell it for. If I could sell it at all.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts.
Actually Joe, this annoys me. The housing slump in the US started nearly 3 years ago. It is just starting in New Zealand. I, personally dont recall having said that. I may have posted a link to an article that made that statement. In any case, NZ home sales may be at a 7yr low, but this has no bearing on home sales in the USA. Like I said earlier, you do not quite understand the theory of relativity. FWIW--you must not confuse total home sales, with existing homes sales, with new home sales. You will NEVER checkmate me anytime with facts. Your "analysis" seems to just be riding others' coattails. I forgive you though, as you seem to be young and impressionable. You'll grow out of it someday.
Good luck with your investments. >>
You did put that in your post. You can't remember what you posted on the previous page!
If you don't pay attention to how the 2 richest people on earth invest, I feel sorry for you. You (think) you know everything and don't care what anyone else thinks and that's typical of young people. Don't drink and drive on prom night.
The best housing indicator is inventory which is 11 months (in reality is higher)and the highest since 1981. I would tell you to go to Calculated Risk's blog and see their analysis but you already know everything so there's no need. Tanta on that site spent decades in the mortgage industry but you know more than her I'm sure. Good Luck investing. (you don't need luck because you already know everything)
I recall reading somewhere once, that people lost their homes during the Depression because they couldn't pay the taxes and then they were foreclosed.
I also recall that a guy named Bernard Baruch made his money in bonds during the Depression. He apparently had access to cash and bought bonds when interest rates were high, selling the bonds when rates came down (and bond prices went sky-high).
It seems to me that the manipulators have brought rates down hard in order to jack up the prices of the bonds that they own. I would expect that if you had a peek at JPMorgan's or Carlysle's balance sheet that you would see bond holdings being sold right now, while bond prices are high.
Of course, none of this matters if you are the government and you can print money on demand, or if you are one of the big commercial banks who can get free money on demand.
How long is it before the first 30-day loan to JPMorgan is due? In a couple more weeks, we should get to hear just how all of the bogus mortgage paper is being re-packaged, again.
I knew it would happen.
<< <i>
<< <i>For example you said NZ sales were the lowest in 7 years. New home sales in the US FELL TO 16 YEAR lows. I checkmate you every time with the facts. >>
Actually, the US housing market has now fallen to the lowest it's been since the Great Depression.
This includes all sales, not just new homes.
We're now talking in terms of 75 YEARS!!
Oh yeah, and the values are still dropping while our property taxes continue to rise.
The county can have my house for the evaluation price right now, as they have it valued for well over 150K than I could sell it for. If I could sell it at all. >>
Thanks for helping educate cohodk but he thinks he knows everything and won't listen to anyone else. GE's CEO said it's the worst since the Depression but cohodk knows more than him too.
<< <i>Oh yeah, and the values are still dropping while our property taxes continue to rise.
I recall reading somewhere once, that people lost their homes during the Depression because they couldn't pay the taxes and then they were foreclosed. >>
I don't doubt that one bit. My property taxes are virtually equal to my mortgage and they will go up another 10% next year. That's the way it works down here, pretty much everyone get a 10% increase and they can go back 5 years so that if they only raised it 6% one year they can then raise it by 14%. As long as they average 10% per year it's perfectly legal. The problem is, the money is going to support illegal aliens in our case. We've already lost our County hospitals to the illegal influx. They were bankrupted a few years ago.
The real outrage is that the state is sitting on over 5 billion $$ and it's growing. It's obvious we are being shafted. Taxes paid should equal costs, there should be no surplus.
Consider this, if you are 1 month late, you pay a 10% penalty, 2 months late is a 20% penalty, 3 months late and your taxes DOUBLE!!
At this absurd rate, they will double every 7 years. It wasn't like this only 4-5 years ago and it's virtually all due to illegal aliens. Their children occupy over 50% of the public school students. All the Southern Border States are dealing with this invasion and it's bankrupting us all.
Time was, the illegals really did come here for jobs. Now they come for the free services and welfare checks, plus Mexico empties their jails across our border. Even our prison population is majority illegals. When they murder US citizens, the Mexican Government pulls out all the stops, gets a World Court Order and demands we cannot execute them. Thankfully, the Supreme Court stepped in recently and said Texas is in charge of it's prisons and legal verdicts, but for years this held up our courts.
Time to step down from the soapbox and lower my blood pressure................
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Just a little different slant on N.Z. for some of you. I have a exporter who loads in my yard in SoCal. This exporter loads 40' shipping containers for Yokohama and Auckland. About half the stuff going out is his personal property. I am not going to divulge exactly what he buys but the containers are high value(not scrap). He THINKS that U.S.A. stuff is so cheap that it boggles his mind. He has NO PROBLEM selling stuff overseas and spends about 50% of his time here-----just filling containers.
Me thinks if the dollar still had hi value, he'd be out of a job. Or a lot less busy. The devaluation of the dollar is bringing them back into this country. I watch it first hand everyday.
regards
<< <i>Oh yeah, and the values are still dropping while our property taxes continue to rise.
I recall reading somewhere once, that people lost their homes during the Depression because they couldn't pay the taxes and then they were foreclosed.
I also recall that a guy named Bernard Baruch made his money in bonds during the Depression. He apparently had access to cash and bought bonds when interest rates were high, selling the bonds when rates came down (and bond prices went sky-high).
It seems to me that the manipulators have brought rates down hard in order to jack up the prices of the bonds that they own. I would expect that if you had a peek at JPMorgan's or Carlysle's balance sheet that you would see bond holdings being sold right now, while bond prices are high.
Of course, none of this matters if you are the government and you can print money on demand, or if you are one of the big commercial banks who can get free money on demand.
How long is it before the first 30-day loan to JPMorgan is due? In a couple more weeks, we should get to hear just how all of the bogus mortgage paper is being re-packaged, again. >>
Yes, I understand quite a few folks (forget the fraction) lost their homes for back taxes. This thime is different though. Not different in bailing such folks out. Different in that is 7/10 of your neighbors lose to foreclosure, Eminent Domain (the "other ED" they don't do commercials on TV for) might be invoked to clear out the remnant 3/10 to transfer to Mr. Friendly Developer. It isn't as outlandish a theory as it sounds either. Just imagine the arguments to be made in that it will stimulate the local economy in employment to develop/build on that property.
I also think bonds are next in the queue. Speaking of them, I sure wouldn't want to be stuck right about now in any munis that aren't of the highest rating.
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Interesting story on the local news last night. Folks are holding "Gold Parties". It seems that a "facilitator" will contact friends and then act as a host/hostess for the gathering at their home. The agent or buyer will come in, assess the weight and purity and make an offer with a check on the spot if the seller accepts. One seller was all giddy, when interviewed, because she got a check for $1000 for her junk gold; grinnin' ear to ear. The story also talked about having these things scheduled during the week and all weekends too. Must be a good business and with gold tanking (not) you would wonder why people would go into people's homes to get their gold.
Seems like a curious phenomenon to me that gold would be depressed, yet people are going to folks houses and buying their scrap gold. I can gather two things from this bit of cultural news: 1) If the lower level dealers are going to people's homes to buy their gold then somebody surely believes there is some pretty good value there. I suspect that they don't pay full spot, maybe 10% back to cover their time and effort. 2) Houston is not a good town to go around advertising that you are going to have a gold party at your house...very bad form. Can you imagine a robber busting into the venue, the dealer draws first and drops him and the poor homeowner is standing there with a dead guy bleedin' all over her deep pile Berber with cops swarming around in her house. Her friends and neighbors are calling their attorneys. Woah...take it to the pawn shop darlin', it's just so much easier.
Oh well, just a tidbit of cultural information to amuse the readers.
Counter-terror cops tote machine guns in NYC subways in new crackdown
Counter-terror cops tote machine guns in the subways in new crackdown
I feel so much safer when I see this
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>News from the front:
Interesting story on the local news last night. Folks are holding "Gold Parties". It seems that a "facilitator" will contact friends and then act as a host/hostess for the gathering at their home. The agent or buyer will come in, assess the weight and purity and make an offer with a check on the spot if the seller accepts. One seller was all giddy, when interviewed, because she got a check for $1000 for her junk gold; grinnin' ear to ear. The story also talked about having these things scheduled during the week and all weekends too. Must be a good business and with gold tanking (not) you would wonder why people would go into people's homes to get their gold.
Seems like a curious phenomenon to me that gold would be depressed, yet people are going to folks houses and buying their scrap gold. I can gather two things from this bit of cultural news: 1) If the lower level dealers are going to people's homes to buy their gold then somebody surely believes there is some pretty good value there. I suspect that they don't pay full spot, maybe 10% back to cover their time and effort. 2) Houston is not a good town to go around advertising that you are going to have a gold party at your house...very bad form. Can you imagine a robber busting into the venue, the dealer draws first and drops him and the poor homeowner is standing there with a dead guy bleedin' all over her deep pile Berber with cops swarming around in her house. Her friends and neighbors are calling their attorneys. Woah...take it to the pawn shop darlin', it's just so much easier.
Oh well, just a tidbit of cultural information to amuse the readers. >>
I saw that as well. I'd bet they are paying more like 20-25% back of spot and the homeowner is getting a cut or a break of some sort to host the event.
For many people, they have never been to a pawn shop and would never consider it. It's also amazing that they don't think coin shops buy precious metal jewelry. My fav B&M has loads of loose diamonds as well. You can buy them for 1/2 or less of what a jeweler would charge you.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Back then, gold spiked to $1,050.00, and it really did feel like the grim reaper had come to Wall St. looking for more souls.
Six weeks later, oil prices have gone on to record heights, yet gold has fallen 15%. Additionally, every day the news about housing, jobs, and the dollar stays bad yet the Dow seems to have stabilized and keeps inching northward.
Is what is happening just some anomaly, or have the patterns of the last couple years really shifted into something else?
>>>My Collection
<< <i>To get back to the subject at hand for a minute, I wonder if any of you could speak to the change in the economic climate that has taken place since the Bear Stearns deal took place.
Back then, gold spiked to $1,050.00, and it really did feel like the grim reaper had come to Wall St. looking for more souls.
Six weeks later, oil prices have gone on to record heights, yet gold has fallen 15%. Additionally, every day the news about housing, jobs, and the dollar stays bad yet the Dow seems to have stabilized and keeps inching northward.
Is what is happening just some anomaly, or have the patterns of the last couple years really shifted into something else? >>
No the climate is the same, its sugar coated now, but they plan on selling dollars, Same climate same high in oil.
weakness in gold can be seen in euro trading.
the turn down in dollars is just ahead.
I have found power in the mysteries of thought.
It is always a question of knowing and seeing, and not that of believing.
Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.
.
This gold party thing is comical. People go out and pay a huge markup for gold jewelry and then decide to sell the stuff for no premium to melt (actually under melt) and they are grinning from ear to ear in the process as the hundred dollar bills are counted out. I don't get it. The first time I tried to sell a pair of diamond ear rings (appraised for $950) and was offered $150 I finally got "it." Maybe these jokers are selling their inherited gold jewelry. Either way I don't get it.
roadrunner
Crude predicted to top $200 by 2012 on tight supplies, pushing gas higher
By Moming Zhou
Last update: 5:15 p.m. EDT April 24, 2008
SAN FRANCISCO (XXXXX XXXXXX) -- Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday.
Crude supplies are actually lower than some official estimates indicate, while demand is unlikely to fall anytime soon, according to a statement by analysts led by Jeff Rubin at CIBC, an investment bank. They forecast that these tighter supplies and continued strong demand will drive oil and gasoline prices to roughly double their current levels by 2012.
"It is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity," said Rubin. "Despite the recent record jump in oil prices, oil prices will continue to rise steadily over the next five years."
CIBC says estimates by the International Energy Agency have overstated supplies because gains in production mostly come from natural-gas liquids.
The front-month crude contract slid Thursday to $116 a barrel, after hitting a historic high of $119.90 a barrel Tuesday. Retail gas prices averaged $3.56 a gallon Thursday, according to AAA, a new record high. See Futures Movers.
Some analysts, however, said crude prices could turn lower. Standard & Poor's predicted Thursday that crude prices could tumble to about $90 a barrel by the end of this year with the U.S. economy struggling in recession, though the range of that forecast is plus or minus $50.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870