Go hit the financial pages.
Put a diaper on first.
:lulz:
what what what? its 3am here.
Quote from: Faust on January 22, 2008, 02:57:45 AM
what what what? its 3am here.
Check this out:
http://quotes.ino.com/chart/?s=CBOT_ZN.H08.E
Biggest bond move ever.
The Chinese banks are taking a nose dive.
Most of Asia, Europe, and - of course - the USA are in freefall.
do you mean Global markets plunge on U.S. recession fears (http://money.cnn.com/2008/01/21/news/international/world_markets.ap/index.htm?postversion=2008012115) or Oprah's high-flying partner (http://money.cnn.com/2008/01/21/news/companies/discovery_siklos.fortune/index.htm?postversion=2008012113)?
Looks like roughly 6% hits on all the major markets. Except Japan, who took over double that. Jesus.
Of course, they're never going to find those bad loans. Not a chance.
I don't understand most of this.
what does it mean to a european?
Gonna be harder to get a job in the near future. Almost certainly a recession in the making.
Basically, the international monetary system has been fucked up so much, no-one wants to lend money to each other much anymore. Which is kind of a shame, since the lending of money is what constitutes most of the international economy. No-one knows where the maggot in the apple, the sub-prime loans, are. And that's bad, because it automatically makes lenders and speculators suspicious. What if this bank is backed up using subprime loans etc
The best bit is the banks themselves probably don't know. So there wont be an easy solution. Hooray, deregulation of the banking system! 3 cheers for policing yourselves!
ireland is corporate enough without them giving them more incentives. they will just slash healthcare.... shit.
you know its about time someone called america on its debt.
Problem is, what if America defaults? China owns most of the US debt, and is aware its own economic fortune is tied up in that of the USA's, as does the EU and Japan. There might be a stronger incentive for the Chinese to call in US debts, in theory, but in practice I can't see it.
I just thought it would be funny to do, roger explained the ramifications of it to me before
Quote from: Cain on January 22, 2008, 03:00:32 AM
Looks like roughly 6% hits on all the major markets. Except Japan, who took over double that. Jesus.
Of course, they're never going to find those bad loans. Not a chance.
Crap.
Japan is the only country buying our bonds, and the Chinese are selling like crazy.
Quote from: Cain on January 22, 2008, 03:11:29 AM
Gonna be harder to get a job in the near future. Almost certainly a recession depression in the making.
Look at China. Also, look at American bonds.
:lulz:
Quote from: Faust on January 22, 2008, 03:19:49 AM
I just thought it would be funny to do, roger explained the ramifications of it to me before
Just think of it as 3 huge rednecks surrounding you at the bar.
You need to go to the bathroom.
They need to stab you and then fuck you in the wounds.
Shit, I have no idea what any of that means.
It's like Latin, except that I understand a little Latin.
Quote from: Cain on January 22, 2008, 03:18:26 AM
Problem is, what if America defaults?
"A thousand years of darkness."
:lulz:
Quote from: Hoopla on January 22, 2008, 03:25:04 AM
Shit, I have no idea what any of that means.
It's like Latin, except that I understand a little Latin.
It means cancel Christmas.
Canada seems to be doing okay. Your banks are deliberately devaluing themselves, which means they are pulling money IN, which will keep them liquid in case of a small or medium run.
Quote from: Hoopla on January 22, 2008, 03:25:04 AM
Shit, I have no idea what any of that means.
It's like Latin, except that I understand a little Latin.
I understand a little. Currency war theory, mostly, which is better than nothing.
Of course, the real kicker would be if Russian banks linked to corrupt government officials were hoarding the subprime loans and purposefully not telling anyone. But I'm saving that tinfoil material for another month or so, until things get worse.
Bank of Scotland fell 8% as well. And the Bank of Scotland has a foothold in most other banks.
Come Armageddon!
Come Armageddon come!
European markets in the worst state since 9/11.
WHEN TRADE SHUT DOWN FOR AN ENTIRE WEEK.
Quote from: Cain on January 22, 2008, 03:33:03 AM
European markets in the worst state since 9/11.
WHEN TRADE SHUT DOWN FOR AN ENTIRE WEEK.
Losses in the last few hours:
Merrill Lynch: $22.1bn
Citigroup: $18bn
UBS: $13.5bn
Morgan Stanley $9.4bn
HSBC: $3.4bn
Bear Stearns: $3.2bn
Deutsche Bank: $3.2bn
Bank of America: $3bn
Barclays: $2.6bn
Royal Bank of Scotland: $2.6bn
Freddie Mac: $2bn
JP Morgan Chase: $3.2bn
Credit Suisse: $1bn
Wachovia: $1.1bn
IKB: $2.6bn
Paribas: $197m
:banana:
We should find a financial board to troll.
This'll be easier than mocking Harry Potter fans.
Quote from: Cain on January 22, 2008, 03:39:58 AM
We should find a financial board to troll.
This'll be easier than mocking Harry Potter fans.
Forbes is usually good for a laugh.
I'm not callus enough to make bankers suicidal yet.
Quote from: Faust on January 22, 2008, 03:42:06 AM
I'm not callus enough to make bankers suicidal yet.
Oh, but *I* am. :lulz:
They're the fuckers that did this.
(Hey, beats blaming ourselves, right?)
I am. Its their own fucking fault. "Oh, we'll be cautious, we'll be careful. Wheeeeee, lets give out billions in loans to people who can't possibly hope to pay it back and sell the debts onto anyone who can sign a piece of paper without checking. Because we're responsible." And they're dragging us down with them.
Also, Forbes' forum looks dead, except for spammers.
Quote from: Cain on January 22, 2008, 03:44:46 AM
I am. Its their own fucking fault. "Oh, we'll be cautious, we'll be careful. Wheeeeee, lets give out billions in loans to people who can't possibly hope to pay it back and sell the debts onto anyone who can sign a piece of paper without checking. Because we're responsible." And they're dragging us down with them.
Also, Forbes' forum looks dead, except for spammers.
Deregulation is a wonderful thing, no?
And all the Forbes crowd are probably half way down the front of their buildings by now.
:lulz:
Nassim Nicholas Taleb was talking about this exact problem in Black Swan. He said the next financial crisis would come from banks issuing loans to people who can't pay it all back, and they all default at the same time. I'll find the exact quote tomorrow, sometime.
Quote from: Cain on January 22, 2008, 03:48:13 AM
:lulz:
Nassim Nicholas Taleb was talking about this exact problem in Black Swan. He said the next financial crisis would come from banks issuing loans to people who can't pay it all back, and they all default at the same time. I'll find the exact quote tomorrow, sometime.
Tomorrow?
What tomorrow? :lulz:
I'm on holiday anyway, its not like I'll be doing anything else.
In fact, I'll still be on holiday once my degree is done, I suspect, because knowing my town as I do, jobs are already scarce and it was booming for the last couple of years. I predict a steep rise in anti-Polish sentiment, which will be fun since I live in Little Warsaw.
Fuck. two hours till I have to go play supervisor and I haven't slept at all.
how can I use this rapidly shifting world economy to my advantage.
This is the Illuminati recruitment forum right?
Quote from: Cain on January 22, 2008, 03:51:26 AM
I'm on holiday anyway, its not like I'll be doing anything else.
In fact, I'll still be on holiday once my degree is done, I suspect, because knowing my town as I do, jobs are already scarce and it was booming for the last couple of years. I predict a steep rise in anti-Polish sentiment, which will be fun since I live in Little Warsaw.
BE THE FIRST ON YOUR BLOCK TO ORGANIZE AN ANGRY MOB! :lulz:
The hilarious part is that Bush is getting ready to dole out up to $2,000 in cash to American families -- even the middle class -- just to keep them spending.
lol, the early tax return...
Gets everybody off his back and takes 140 bil out of next years spending creating a larger problem for next year, after he has moved to Dubai.
Quote from: vexati0n on January 22, 2008, 04:39:14 AM
The hilarious part is that Bush is getting ready to dole out up to $2,000 in cash to American families -- even the middle class -- just to keep them spending.
:lulz:
Spitting in the desert.
It's okay; I'm sure we'll get out of it just like the last one. The Great Depression was finally cured by... lemme check...
Roosevelt's New Deal? No, that didn't quite fix it... hmm...
Oh, bollocks. The rampant unemployment wasn't fixed until it was time to gang up on Hitler. We are in for some truly Weird Times.
Quote from: Cainad on January 22, 2008, 05:08:01 AM
It's okay; I'm sure we'll get out of it just like the last one. The Great Depression was finally cured by... lemme check...
Roosevelt's New Deal? No, that didn't quite fix it... hmm...
Oh, bollocks. The rampant unemployment wasn't fixed until it was time to gang up on Hitler BILL OUR ALLIES FOR OUR HELP. We are in for some truly Weird Times.
Fixed.
And the depression was winding down before the war. Just saying.
Quote from: The Good Reverend Roger on January 22, 2008, 05:09:38 AM
Quote from: Cainad on January 22, 2008, 05:08:01 AM
It's okay; I'm sure we'll get out of it just like the last one. The Great Depression was finally cured by... lemme check...
Roosevelt's New Deal? No, that didn't quite fix it... hmm...
Oh, bollocks. The rampant unemployment wasn't fixed until it was time to gang up on Hitler BILL OUR ALLIES FOR OUR HELP. We are in for some truly Weird Times.
Fixed.
And the depression was winding down before the war. Just saying.
Fair enough. But if the world economy really does asplode, I don't foresee a warm, fuzzy outcome. Then again, I don't foresee very much at all right now because I need new glasses.
Quote from: Cainad on January 22, 2008, 05:15:42 AM
Fair enough. But if the world economy really does asplode, I don't foresee a warm, fuzzy outcome.
Well, thank "Bob" for THAT.
what the hell?
early tax return?
saw the bank thing comin when i heard about friends of friends who work fast food or worse getting approved for loans on $400K houses.
unfortunately i work for a bank. a big one. who just lost big according to TGRR.
should i be looking for another job? (not like i wasn't)
even then, will i find one?
hate this place.
Quote from: Cthulhu's Squidling on January 22, 2008, 05:17:49 AM
what the hell?
early tax return?
saw the bank thing comin when i heard about friends of friends who work fast food or worse getting approved for loans on $400K houses.
unfortunately i work for a bank. a big one. who just lost big according to TGRR.
should i be looking for another job? (not like i wasn't)
even then, will i find one?
hate this place.
Just hang on to your hat, is all.
India just lost 10% of their net value in 2 minutes, and shut down their market.
Dumb question: Where are the asshats who made a killing off of this subprime loan shit? Or are that many banks really that stupid?
Quote from: Cainad on January 22, 2008, 05:22:56 AM
Dumb question: Where are the asshats who made a killing off of this subprime loan shit? Or are that many banks really that stupid?
The banks didn't write those mortgages, they outsourced the mortgage sales and underwrote them.
Now they are saddled with $60,000,000,000.00 in bad loans, and the writers are, one would presume, in Cabo, laughing their arses off.
The Depression was caused by the shock of moving from the gold standard to a fiat currency. This is caused by the shock wave of realizing that fiat currencies don't work, either. The difference is that this time, there's no new currency system to jump ship to.
Quote from: vexati0n on January 22, 2008, 05:25:24 AM
The Depression was caused by the shock of moving from the gold standard to a fiat currency.
No it bloody wasn't. It was caused by people being able to borrow against their mortgages to buy stock on margin. Thus, a minor market crash wiped out the net worth of 25% of the middle class.
Quote from: The Good Reverend Roger on January 22, 2008, 05:27:37 AM
Quote from: vexati0n on January 22, 2008, 05:25:24 AM
The Depression was caused by the shock of moving from the gold standard to a fiat currency.
No it bloody wasn't. It was caused by people being able to borrow against their mortgages to buy stock on margin. Thus, a minor market crash wiped out the net worth of 25% of the middle class.
That doesn't fit with my j00-based conspiracy algorithms. Take your facts to someone who wants them, sir.
Quote from: vexati0n on January 22, 2008, 05:33:29 AM
Quote from: The Good Reverend Roger on January 22, 2008, 05:27:37 AM
Quote from: vexati0n on January 22, 2008, 05:25:24 AM
The Depression was caused by the shock of moving from the gold standard to a fiat currency.
No it bloody wasn't. It was caused by people being able to borrow against their mortgages to buy stock on margin. Thus, a minor market crash wiped out the net worth of 25% of the middle class.
That doesn't fit with my j00-based conspiracy algorithms. Take your facts to someone who wants them, sir.
:lulz:
Quote from: Cainad on January 22, 2008, 05:22:56 AM
Dumb question: Where are the asshats who made a killing off of this subprime loan shit?
Dubai!
http://www.kuwaittimes.net/read_news.php?newsid=NDg4MDE4Mzg5 (http://www.kuwaittimes.net/read_news.php?newsid=NDg4MDE4Mzg5)
the talk has started over on sa. nerds shitting themselves is funny,
also the guy who mistook the thread for the y2k bug was good.
oh lord
I thought the Great Depression was solved by good old Keynsian economics?
Never mind that wont work now, because the US government and the US people are in so much debt neither can be billed for the sort of measures needed to create jobs and cash flow.
Quote from: The Good Reverend Roger on January 22, 2008, 04:57:05 AM
Quote from: vexati0n on January 22, 2008, 04:39:14 AM
The hilarious part is that Bush is getting ready to dole out up to $2,000 in cash to American families -- even the middle class -- just to keep them spending.
:lulz:
Spitting in the desert.
Hey, that's Obama's plan, as well.
You want to know what I find funny? Every financial planner you talk to stresses the importance of saving your money, the news constantly yammers about credit card debt, yet economists constantly freak out when spending goes down.
I find the easiest way to avoid credit card debt is to not have a credit card. We have one at Lowe's and I think we've used it exactly once to buy a couple of appliances, paid it off months ago.
I think there is a lot of half-assed, empty lip service paid to the ideas of saving and spending wisely. While it is in the individual's best interest, it doesn't seem to me that it is really meaningfully reinforced. Yet, even a recession won't cure many in American society for their need to have things that they really can't afford.
I have a shred of sympathy for people who got into this sub-prime nonsense, but seriously, if you know you aren't going to be able to pay for the house, don't buy it. The American Dreamtm doesn't become any more real just because you own a house. sheesh.
http://www.guardian.co.uk/business/2008/jan/22/businessqandas.marketturmoil
For those who want to recap what happened.
Don't forget to sell, Mortimer, Sell!!
(http://i40.photobucket.com/albums/e244/inthecanpictures/sell.jpg)
Quietly, I start biting my finger nails and whimpering in fear.
Quietly, I start jacking off with glee.
Quietly, I start organizing mobs to hang bankers, with much mirth.
Quietly, I start noting bulletproof walls and caches of nonperishable food.
Quietly, I start preparing to revel in the US's future as a third world nation, and contemplate a quick drive to Detroit to get used to it.
LOUDLY, I START SMACKING MONKEYS AROUND!
WHO DID THIS TO YOU, BUBBA? THAT'S RIGHT...IT WAS YOU.
http://www.alternet.org/story/74620/
Worth reading because of the extracts from Chalmers Johnson alone.
Quote from: Cainad on January 22, 2008, 05:22:56 AM
Dumb question: Where are the asshats who made a killing off of this subprime loan shit? Or are that many banks really that stupid?
I heard a report on NPR that a small percentage of some of the fraudlent loans happened in Chicago. Apparently, the local thugs went to federal prison where white collar criminals were also sent. Tough Thug + Smart Nerd= Night School in the Big House.
The thugs came out of prison and started a business selling real estate. Apparently they would take homes owned by someone in the organization, buy it, appraise it at a much higher price and then approve fictional people (or other people in the group with fake id information) for loans on the property. Then they immediately sold the loans to other banks. After they did this several times, the fake identities would disappear and the real estate company closed and disappeared.
Thus leaving some bank with a big debt and property that they couldn't possibly cover the debt with.
I think there have been a number of arrests on this, and the NPR reporter was quick to stress that this wasn't THE MAIN cause, but rather an example of how badly the market was managing things, that such an obvious scam was so successful.
It was also noted that there are now several Internet businesses that you can pay a fee to and they will provide employment records and references so you can get a loan. You basically pay the $80 and they will tell any bank that you have X salary and been working there for X years... apparently some banks gave loans based on these references.
the stock market slide must not be that important
since the top news story right now is Heath Ledger's autopsy
:lol:
Quote from: Thurnez Isa on January 23, 2008, 06:23:35 PM
the stock market slide must not be that important
since the top news story right now is Heath Ledger's autopsy
:lol:
Bread and Circuses.
Um... That's "Whole Foods", now.
Quote from: LMNO on January 23, 2008, 07:34:09 PM
Um... That's "Whole Foods", now.
(http://www.theinvisiblecollege.com/mittens4troof.jpg)
http://www.theatlantic.com/doc/200801/fallows-chinese-dollars
I can always count on James Fallows to cheer me up.
Quote from: LMNO on January 23, 2008, 07:34:09 PM
Um... That's "Whole Foods", now.
why does everyone hate on Whole Foods?
that place is fucking awesome.
Anti-union, pressures local groceries out of business, and a lot of thier "organic" stuff is questionable.
I still shop there, though.
LMNO
-hypocrite, what of it?
I am slowly becoming sucked up by the Whole Foods machine.
They are anti-union, but to make up for it, they treat their employees pretty well. You only need to work there for 16 hours a week and they give you health insurance, they pay starting at a minimum of $10 an hour and give regular raises--and not like the "ten cents an hour more, congratulations!" raises most people give.
They still are full of pretentiousness, but having one literally just around the block from me has lead to me shopping there more than I normally would, and I'm starting to become fond of them. Their cheese selection is delightful. Also, lots of sexy dudes work there. 8)
I don't care if they have 6 year old bangladeshi slaves in the back.
three words: SMOKED MEAT CASE
two more words: GELATO BAR
I'd go there all the time if I made more money than I "need" for gadgets and books. The place is hard to go to if you're into food like me. I can easily spend fifty bucks on a meal for two if I don't keep track.
It's not raining on wall street yet :argh!:
:lulz:
They're saying that so far it wont be as bad as 1987. So far.
Personally, I'd wait until the winter after the Beijing Olympics. Going by the Fallows article I posted above, plus other choice readings, the Chinese are going to have serious problems sustaining a boom once the Olympics end. And when their economy goes into the shitter, as it eventually must, it'll knock the shit out of America in terms of living standards.
Quote from: Felix on January 24, 2008, 10:22:07 PM
I'd go there all the time if I made more money than I "need" for gadgets and books. The place is hard to go to if you're into food like me. I can easily spend fifty bucks on a meal for two if I don't keep track.
Seriously. But if you're also careful, you can actually get out of there without spending a whole lot. Because there's a Whole Foods less than a five minute walk from my house, as opposed to taking irritating public transit to the Shaw's in Asshat Landia, I made a list and compared prices on things. For the most part, Whole Foods is comparable to a regular grocery store if you try to get local stuff and Whole Foods brand stuff. Everything else I get at Trader Joe's--if Trader Joe were real, I'd want him to be my boyfriend.
But yeah, books and nifty gadgets almost always win.
Okay.
Did we make it?
Quote from: Doktor Howl on October 29, 2010, 07:30:43 PM
Okay.
Did we make it?
That depends on Tuesday. Probably not.
Quote from: Doktor Howl on October 29, 2010, 07:30:43 PM
Okay.
Did we make it?
Dunno. I myself feel awful squeezed.
Quote from: Doktor Howl on October 29, 2010, 07:30:43 PM
Okay.
Did we make it?
Whoa, it gave me chills to read this thread, looking back at the last nearly three years.
Did we make it? I almost feel like it's too soon to be optimistic. But beads are selling steadily again for the first time since the crash, and my real-estate spidey-sense urge to
buy now has kicked in.
However, my other spidey-sense says that the recovery is temporary, and is a lull which will give us a chance to get our affairs in order before the big one. It's telling me to buy a small house on a big parcel, and sell my big house at market peak to pay off the small one so that when the crash comes, no one can legally take it away.
Quote from: The Lord and Lady Omnibus Fuck on October 29, 2010, 08:12:32 PM
However, my other spidey-sense says that the recovery is temporary, and is a lull which will give us a chance to get our affairs in order before the big one. It's telling me to buy a small house on a big parcel, and sell my big house at market peak to pay off the small one so that when the crash comes, no one can legally take it away.
I agree with this spidey-sense.
:banana: What an awesome time to be trying to get my business off the ground! :banana:
wait...
:sadbanana:
Quote from: BLARFINGARF on October 30, 2010, 05:42:37 AM
:banana: What an awesome time to be trying to get my business off the ground! :banana:
wait...
:sadbanana:
Right now might not be so bad; if you can catch the upswing, you might be able to rock it for a few years while making contingency plans for the crash.
It is actually starting to go well for me. But I'm so used to everything going so right then BAM not anymore. I'm worried it'll drop off and I'll be stalled out....again.
:|
A friend of mine who owns a headshop (that I helped him get started back in the day) is all networked with other headshop owners now, and wants to become a distributor.
I have a degree in (basically) manufacturing, and some pretty cool ideas for pipes, so he wants me to start a pipe factory in my apartment.
Looks like I'm getting back into the business.
Quote from: Remington on October 30, 2010, 08:01:43 AM
Quote from: Doktor Howl on October 29, 2010, 07:40:45 PM
Quote from: Remington on October 29, 2010, 07:36:02 PM
Quote from: Doktor Howl on October 29, 2010, 07:30:43 PM
Okay.
Did we make it?
That depends on Tuesday. Probably not.
What happens on Tuesday?
Erm. Elections?
Unless I'm terribly misinformed.
The elections are highly unlikely to alter the course of the recession, or the end thereof if that's actually what's happening.
Quote from: Nigel on October 29, 2010, 08:12:32 PM
Quote from: Doktor Howl on October 29, 2010, 07:30:43 PM
Okay.
Did we make it?
Whoa, it gave me chills to read this thread, looking back at the last nearly three years.
Did we make it? I almost feel like it's too soon to be optimistic. But beads are selling steadily again for the first time since the crash, and my real-estate spidey-sense urge to buy now has kicked in.
However, my other spidey-sense says that the recovery is temporary, and is a lull which will give us a chance to get our affairs in order before the big one. It's telling me to buy a small house on a big parcel, and sell my big house at market peak to pay off the small one so that when the crash comes, no one can legally take it away.
ATTN, NIGEL: OBTAIN A NEW SPIDEY SENSE.
Hey, guys?
Hold onto your ass.
Quote from: Doktor Howl on May 25, 2013, 06:47:56 AM
Hey, guys?
Hold onto your ass.
I really hate it when you're right all the time and I haven't yet built up a sufficient supply of toilet paper and matches.
Just got an email from my buddy Werner, one of our financial geeks in Germany.
Seems the German banks aren't happy at all about our congress refusing to do anything about this:
http://prospect.org/article/wall-streets-regulatory-rapture
And they're about to do something about it.
Not much ass left to hold on to.
:rimshot:
Cain, you hearing any buzz about this? Werner's been wrong before, but he IS the guy that told me to get the fuck out of the market in late 2006.
Quote from: Doktor Howl on May 25, 2013, 06:52:58 AM
Just got an email from my buddy Werner, one of our financial geeks in Germany.
Seems the German banks aren't happy at all about our congress refusing to do anything about this:
http://prospect.org/article/wall-streets-regulatory-rapture
And they're about to do something about it.
Link wont load for me. The error message mentions too many connections, so maybe it's a server bandwidth thin
I am on my phone though.
Quote from: Forsooth on May 25, 2013, 07:14:10 AM
Quote from: Doktor Howl on May 25, 2013, 06:52:58 AM
Just got an email from my buddy Werner, one of our financial geeks in Germany.
Seems the German banks aren't happy at all about our congress refusing to do anything about this:
http://prospect.org/article/wall-streets-regulatory-rapture
And they're about to do something about it.
Link wont load for me. The error message mentions too many connections, so maybe it's a server bandwidth thing
Works fine for me, though a tad slow.
QuoteThe Commodity Futures Trading Commission (CFTC) will make official a Wall Street victory today when it announces softened regulation on derivatives trading. After pressure from bank lobbyists, a rule that would have increased competition in the market for derivatives—financial products that derive their value from an underlying asset—could now empower a few big financial institutions to rule that risky space. Ninety percent of the now $700 billion derivatives market that nearly brought down AIG and helped cause the 2008 financial crisis is currently controlled by the five biggest banks, yet derivatives are still traded in largely unregulated shadow markets.
While a provision in the Dodd-Frank financial-reform law was designed to force derivatives onto regulatory platforms resembling public exchanges, implementation was left to the CFTC. Today's approval of the rule helps fulfill that duty, but opponents worry it leaves flexibility for big banks—who held more than 80 meetings with CFTC members over the past 3 years—to return to their "old, opaque way of doing business," according to Marcus Stanley, policy director of Americans for Financial Reform. "If flexibility means it's more beneficial to the banks, so be it," says CFTC member Mark Wetjen. "But it also means it's more flexible to all market participants and the marketplace as a whole."
Link worked fine for me, FYI. Hooray for 'old, opaque ways of doing business'. :horrormirth:
hopefully Germany's announcement is along the lines of, 'Yes, it'd be nice if the global market didn't crash again due to retarded loan practices, but your new regs just make you flexible enough to keep your money while still fucking the littleman in the ass. Stop that.'
Quote from: Doktor Howl on May 25, 2013, 06:57:43 AM
Cain, you hearing any buzz about this? Werner's been wrong before, but he IS the guy that told me to get the fuck out of the market in late 2006.
Bits and pieces. My German is rusty, though, and I dont trust German banks whining about regulatory capture. What worries them is their share of the regulatory capture, would be my suspicion.
Which may amount to the same thing when looking at their initial actions.
As far as I can see internationally, the following is happening:
Shinzo Abe caused the Japanese markets to collectively shit themselves. Somehow. No-one's quite sure how, which means no-one knows how to read the 7% drop in the Nikkei, especially in light of its recent, extraordinary growth (about 45% overall in the past 5 months). Ambrose Evans-Pritchard is getting apocalyptic (http://www.telegraph.co.uk/finance/markets/10077273/Veteran-fears-beginning-of-the-end-for-Japan-as-bond-market-buckles.html) however, which is rarely a good sign.
The Fed is stopping QE. This has investors worried as hell, because the Fed cannot control rates when investors start dumping bonds. Mortgage rates are rising as a consequence of the Fed's statement, which is harming the US "housing recovery", such as it is. However, the Fed is committed to this course of action due to the mostly illusionary "recovery" which it commits itself to seeing in the data.
Europe is a fucking mess, part eleventy gajillion of a never ending series of suck and fail.
Obama is trying to finalize the TPP and USA-EU trade deals, both of which will tie the US economy even more closely with European and Pacific happenings.
Quote from: Cain on May 25, 2013, 03:19:18 PM
Quote from: Doktor Howl on May 25, 2013, 06:57:43 AM
Cain, you hearing any buzz about this? Werner's been wrong before, but he IS the guy that told me to get the fuck out of the market in late 2006.
Bits and pieces. My German is rusty, though, and I dont trust German banks whining about regulatory capture. What worries them is their share of the regulatory capture, would be my suspicion.
Which may amount to the same thing when looking at their initial actions.
As far as I can see internationally, the following is happening:
Shinzo Abe caused the Japanese markets to collectively shit themselves. Somehow. No-one's quite sure how, which means no-one knows how to read the 7% drop in the Nikkei, especially in light of its recent, extraordinary growth (about 45% overall in the past 5 months). Ambrose Evans-Pritchard is getting apocalyptic (http://www.telegraph.co.uk/finance/markets/10077273/Veteran-fears-beginning-of-the-end-for-Japan-as-bond-market-buckles.html) however, which is rarely a good sign.
The Fed is stopping QE. This has investors worried as hell, because the Fed cannot control rates when investors start dumping bonds. Mortgage rates are rising as a consequence of the Fed's statement, which is harming the US "housing recovery", such as it is. However, the Fed is committed to this course of action due to the mostly illusionary "recovery" which it commits itself to seeing in the data.
Europe is a fucking mess, part eleventy gajillion of a never ending series of suck and fail.
Obama is trying to finalize the TPP and USA-EU trade deals, both of which will tie the US economy even more closely with European and Pacific happenings.
Hello, Mr Neck. I'm Mr Anchor.
I am bumping this thread, and RE-prophecizing that the next, bigger crash will happen before the new year. Probably in November.
The problems will be:
1. Same banking fuckery as 2008, only BIGGER,
2. Brexit fucking 6% of the world's trade in less than one minute, and
3. Idiot protectionist nationalists try to keep above water by slapping more and more trade restrictions down.
Yeeah, time is dwindling, the signs are clear.
If it's gonna happen, better sooner than later, especially if it's before the 2020 election
Yup. 2008 was all about buying time by putting bandages on deep, systemic problems.
The bandages got ripped off and everyone ignored the problems. Throw in Brexit, trade wars and whatever may happen in the Middle East and there are problems.
So, almost time to sell?
Just American stocks, or should I trim back on Canadian stocks as well?
Is it safe to assume USD is going to drop vs. CAD, or are we all in this together?
Invest stocks in AK-47s, Hondas and silver.
Why silver?
To fill the Honda with, of course
They built a house of straw. The thundering machines sputtered and stopped. Their leaders talked and talked and talked. But nothing could stem the avalanche. Their world crumbled. The cities exploded. A whirlwind of looting, a firestorm of fear. Men began to feed on men.
On the roads it was a white line nightmare. Only those mobile enough to scavenge, brutal enough to pillage would survive. The gangs took over the highways, ready to wage war for a tank of juice. And in this maelstrom of decay, ordinary men were battered and smashed.
Except for one man armed with an AK-47, and a Honda full of silver
:lulz: :lulz:
:golfclap:
Quote from: chaotic neutral observer on September 18, 2019, 09:31:04 PM
So, almost time to sell?
Just American stocks, or should I trim back on Canadian stocks as well?
Is it safe to assume USD is going to drop vs. CAD, or are we all in this together?
Stocks will rebound.
I mean, if they don't then no financial planning
matters.
Bonds are poison, stay the hell away from them until after the smoke clears from the crater.
Odds are that Canada will do better than the USA, for the same reason as last time (Canadian banks are very conservative when it comes to financial fuckery), but Canada will - as last time - take a pretty good hit all the same. Think in terms of the difference between "disaster" and "apocalypse."
Quote from: Cain on September 18, 2019, 10:30:13 PM
Quote from: Doktor Howl on September 18, 2019, 10:26:20 PM
Quote from: Cain on September 18, 2019, 09:58:55 PM
To fill the Honda with, of course
:lulz:
If there's ever a time for FC memes, it's now.
There will never be a time when at least 5 FC memes don't apply.
Like a motorcycle stuck in the mud.
Quote from: Doktor Howl on September 18, 2019, 10:37:07 PM
Quote from: Cain on September 18, 2019, 10:30:13 PM
Quote from: Doktor Howl on September 18, 2019, 10:26:20 PM
Quote from: Cain on September 18, 2019, 09:58:55 PM
To fill the Honda with, of course
:lulz:
If there's ever a time for FC memes, it's now.
There will never be a time when at least 5 FC memes don't apply.
Like a motorcycle stuck in the mud.
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their motorcycle will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $15,000,000 starter motorcycle in 15 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
Quote from: Cain on September 18, 2019, 10:43:25 PM
Quote from: Doktor Howl on September 18, 2019, 10:37:07 PM
Quote from: Cain on September 18, 2019, 10:30:13 PM
Quote from: Doktor Howl on September 18, 2019, 10:26:20 PM
Quote from: Cain on September 18, 2019, 09:58:55 PM
To fill the Honda with, of course
:lulz:
If there's ever a time for FC memes, it's now.
There will never be a time when at least 5 FC memes don't apply.
Like a motorcycle stuck in the mud.
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their motorcycle will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $15,000,000 starter motorcycle in 15 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
The gains are permanent. That is the gold I was waiting for.
I have heard that shit before, falling out of someone's face, in real life.
Come to think of it, that was the same day they fired me for having piercings :lulz:
Your piercings failed to fill your honda with silver.
Quote from: nullified on September 18, 2019, 11:14:01 PM
I have heard that shit before, falling out of someone's face, in real life.
Come to think of it, that was the same day they fired me for having piercings :lulz:
I convinced my father to stop waiting and sell his old house based on hearing educated people say that with a straight face.
Quote from: Doktor Howl on September 18, 2019, 10:28:54 PM
Stocks will rebound.
I mean, if they don't then no financial planning matters.
Bonds are poison, stay the hell away from them until after the smoke clears from the crater.
Odds are that Canada will do better than the USA, for the same reason as last time (Canadian banks are very conservative when it comes to financial fuckery), but Canada will - as last time - take a pretty good hit all the same. Think in terms of the difference between "disaster" and "apocalypse."
Okay. I'll clean out my bond ETF, reduce my exposure to USD, and get rid of that one stock in a sector that everybody pretends is a good idea, but I suspect no one actually understands. I'll let everything else ride through. Coca-Cola ain't going bankrupt any time soon.
I'm investing in alcohol.
Quote from: chaotic neutral observer on September 19, 2019, 12:03:16 AM
Quote from: Doktor Howl on September 18, 2019, 10:28:54 PM
Stocks will rebound.
I mean, if they don't then no financial planning matters.
Bonds are poison, stay the hell away from them until after the smoke clears from the crater.
Odds are that Canada will do better than the USA, for the same reason as last time (Canadian banks are very conservative when it comes to financial fuckery), but Canada will - as last time - take a pretty good hit all the same. Think in terms of the difference between "disaster" and "apocalypse."
Okay. I'll clean out my bond ETF, reduce my exposure to USD, and get rid of that one stock in a sector that everybody pretends is a good idea, but I suspect no one actually understands. I'll let everything else ride through. Coca-Cola ain't going bankrupt any time soon.
Neither is Raytheon.
Quote from: Cain on September 18, 2019, 10:43:25 PM
Quote from: Doktor Howl on September 18, 2019, 10:37:07 PM
Quote from: Cain on September 18, 2019, 10:30:13 PM
Quote from: Doktor Howl on September 18, 2019, 10:26:20 PM
Quote from: Cain on September 18, 2019, 09:58:55 PM
To fill the Honda with, of course
:lulz:
If there's ever a time for FC memes, it's now.
There will never be a time when at least 5 FC memes don't apply.
Like a motorcycle stuck in the mud.
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their motorcycle will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $15,000,000 starter motorcycle in 15 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
Are you trying to tell me that
this
is
The
correct motorcycle?
(https://media1.giphy.com/media/gZGlQX3wWAV1u/source.gif)
Quote from: Cramulus on January 22, 2008, 02:59:44 AM
do you mean Global markets plunge on U.S. recession fears (http://money.cnn.com/2008/01/21/news/international/world_markets.ap/index.htm?postversion=2008012115) or Oprah's high-flying partner (http://money.cnn.com/2008/01/21/news/companies/discovery_siklos.fortune/index.htm?postversion=2008012113)?
I love how plunge article is gone, but Oprah's High flying partner had to be preserved for posterity.
Quote from: Doktor Howl on September 18, 2019, 07:50:51 PM
I am bumping this thread, and RE-prophecizing that the next, bigger crash will happen before the new year. Probably in November.
The problems will be:
1. Same banking fuckery as 2008, only BIGGER,
2. Brexit fucking 6% of the world's trade in less than one minute, and
3. Idiot protectionist nationalists try to keep above water by slapping more and more trade restrictions down.
Welp, guess I better get on that job hunt/english credential test a little more seriously. I'll be teaching core subjects so that makes me less likely to get axed buuut even we're not immune. fuck.
And i guess i'll be making my first venture into stocks, if you're serious.
Quote from: Juana on September 19, 2019, 06:50:47 PM
Quote from: Doktor Howl on September 18, 2019, 07:50:51 PM
I am bumping this thread, and RE-prophecizing that the next, bigger crash will happen before the new year. Probably in November.
The problems will be:
1. Same banking fuckery as 2008, only BIGGER,
2. Brexit fucking 6% of the world's trade in less than one minute, and
3. Idiot protectionist nationalists try to keep above water by slapping more and more trade restrictions down.
Welp, guess I better get on that job hunt/english credential test a little more seriously. I'll be teaching core subjects so that makes me less likely to get axed buuut even we're not immune. fuck.
And i guess i'll be making my first venture into stocks, if you're serious.
CCA and Wackenhutt will be big winners, if you don't care about evil.
BTW, Wackenhut are now owned by G4S, aka "the group competing with Serco to be the mose useless security company in the world".
I imagine blackwater, or whatever they call themselves these days, will also be fine.
Quote from: Cain on September 19, 2019, 07:44:54 PM
BTW, Wackenhut are now owned by G4S, aka "the group competing with Serco to be the mose useless security company in the world".
Oh, yeah, those fucking guys. They kind of have a standing want ad for background investigators, but their "interview software" doesn't work, so they have never hired anyone and their HR people have apparently never noticed.
It's kind of a running joke in Arizona.
Holy damn, that's legendary incompetence. Every single person involved has to be both fucking up on a colossal scale AND unaware of how bad everyone else is fucking up.
Quote from: nullified on September 19, 2019, 10:49:35 PM
Holy damn, that's legendary incompetence. Every single person involved has to be both fucking up on a colossal scale AND unaware of how bad everyone else is fucking up.
Or they're just sucking up a fat government contract.
Quote from: Doktor Howl on September 19, 2019, 10:06:57 PM
Quote from: Cain on September 19, 2019, 07:44:54 PM
BTW, Wackenhut are now owned by G4S, aka "the group competing with Serco to be the mose useless security company in the world".
Oh, yeah, those fucking guys. They kind of have a standing want ad for background investigators, but their "interview software" doesn't work, so they have never hired anyone and their HR people have apparently never noticed.
It's kind of a running joke in Arizona.
I wish I could say that I'm surprised, but honestly that sounds about right.
The worst Sherrif in America has been pardoned for the equivalent of war crimes and is running again. I sincerely hope he just spontaneously combusts.