Global Correction

[Lasic1]

Actually the dollar has been rising against most world currencies. It is viewed as one of the last safe havens for investors and especially those in foreign countries with volatile currencies. Gold, Silver and Oil were all down today on the commodity markets. Oil dropped below $40 a barrel again as there is still a glut of crude out there as consumers have reduced their consumption. I believe the baht to dollar rate is about 36.40 today and will climb higher.

I don't think a global bust is coming, nor do I believe this fed intervention to bail out their member banks options desks is going to put a floor under this market for very long. It might though, and it would be instructive for you to look at the events of Oct 15, 1998 to confirm that.

the yen carry trade is unwinding (nikkei down 850 points last night)........have you noticed gold ands silver and oil climbs as the dollar weakens against all major currencies? right.......nothing to see here, all is well.....NOT

[Lasic1]

The dollar is actually maintaining strength and gaining on most other currencies. Foreigners are buying up dollars thinking this will preserve their purchasing power and wealth better than their own currencies. This report was on MSNBC business today. The yen is always high as Japanese consumers loyally support their own products and willingly pay more to ensure everyone's welfare. Prices are high for about everything in Japan making it difficult for importers to market their products. If this doesn't make sense, try buying a Benz or Porche in Tokyo if and when it clear customs!

USD is in free fall.

Watch the Yen and Euro !

After the job report (a mere "fuse" for the huge bomb that we are riding) published today in the US... we are again in "panic mode". Like august 9.

And wait for the FED...

It's going to be so funny (or tragic) to read again some posts of the "USD lovers brigade"...

[Naam]

The yen is always high as Japanese consumers loyally support their own products and willingly pay more to ensure everyone's welfare.

true, the Yen is always high except for the periods when the Yen is low. gaining 50% from 1990 to 1995, losing 80% from 1995 to 1998, gaining 40% from 1998 to 2000, losing 30% from 2000 to 2002 and gaining 30% from 2002 to 2005, losing 20% from 2005 to 2007 and gaining 20% from 2007 to 2009 (all percentages vs. US-Dollar) are tiny fluctuations which should not be taken into consideration.

next intelligent remark please!

Edited March 3, 2009 by Naam

[Carmine6]

The yen is always high as Japanese consumers loyally support their own products and willingly pay more to ensure everyone's welfare.

true, the Yen is always high except for the periods when the Yen is low. gaining 50% from 1990 to 1995, losing 80% from 1995 to 1998, gaining 40% from 1998 to 2000, losing 30% from 2000 to 2002 and gaining 30% from 2002 to 2005, losing 20% from 2005 to 2007 and gaining 20% from 2007 to 2009 (all percentages vs. US-Dollar) are tiny fluctuations which should not be taken into consideration.

next intelligent remark please!

But "try buying a Benz or Porche in Tokyo if and when it clear customs!"

So there.

[BEENTHEREDONETHAT]

monkeys i tell you, monkeys........naam what brand of adult diapers are popular? i am thinking of investing in a manufacturer

anyway, what a magical place.........

Thai Central Bank Says Crisis in 2009 Less Severe Than 1997

Thailand's benchmark equity SET Index posted its worst annual performance in 11 years in 2008, falling by almost 48 percent. This year, it has dropped another 2.1 percent.

The baht currency has extended last year's 15 percent loss against the dollar on speculation a deepening economic slump will prompt foreigners to further trim their holdings.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Seem to recall that on Dec 5th you told us you shorted the Baht and the SET. The SET was at about 385 at that time, and has not dropped a point below your short price since then. So are you still holding onto that short? Last I saw the SET was about 600.

But I'm sure a 50%+ loss for a hot shot trader like you wouldn't phase you.

[cloudhopper]

The Global Correction thread has been resurrected! The classics never die...

Come to think of it we haven't heard much from BB or VV of late...

[Naam]

naam, you post in ThaiVisa like a monkey in heat, all over the place and with no control

another brilliant addition to the accumulated facts concerning "global correction". but what i miss is "the pain, the pain... LOS will feel the pain!"

whatever happened to BingoBongo and the "pain" that "LOS" will feel?

[Naam]

BingoBongo him go back jungle to mutt becau' Thailand no feel pain?

[Naam]

what happened to BingoBongo's alter ego the Captain of "Steamship Harmonica"?

[jcon]

I've said it before and I'll say it again: I think this thread is leaps and bounds better than the ''Financial Crisis'' thread. Naam revived it for a day - I hope somehow it stays.

I think bingobongo had some personal issues regarding Thailand, hence his blind calls for it's demise. A rational person should be able to change their mind on things based upon new information. Bingobongo was IMO blinded by his hate for Thailand that he just couldn't help but be biased. That call was totally wrong. Thailand has surged and nobody can dispute that.

He did get many other things right, to his credit.

An amusing observation I just noticed: Lasic1 in post #2192 above literally got it totally wrong, so wrong that the post was within days of massive tops/bottoms (counter to his calls). Nothing against him, just an observation. I hope he didn't take those positions.... that would have been a near-perfect blow-out.

[Naam]

monkeys i tell you, monkeys........naam what brand of adult diapers are popular? i am thinking of investing in a manufacturer

The baht currency has extended last year's 15 percent loss against the dollar on speculation a deepening economic slump will prompt foreigners to further trim their holdings.

[Naam]

and the "baht currency" keeps extending its losses

[flying]

and the "baht currency" keeps extending its losses

It is funny to think back now....

I mean who would have imagined that BS Bernanke would print/digitize that kind of $$$$

the original 700 Billion seems like chump change now.

Me thinks even now he is just getting warmed up.

After all here is the latest package

You have to love how they say they will now be purchasing $600 billion of treasury securities over a time period ending in June of 2011.

Also the NY Fed expects to reinvest another $250 to $300 billion over the same period. This brings the total of the stimulus package to just under $1 trillion dollars."

I mean at the end of the day they are purchasing with what? Then re-investing with more of that what?

Treasury securities is govt debt & we know how it was created....Yet AFAIK they are buying their own debt with more of the same.

This is a pretty sweet deal....

How does the rest of the world not say HEY <deleted>!!!

Edited November 6, 2010 by flying

[Naam]

I mean at the end of the day they are purchasing with what? Then re-investing with more of that what?

use a little phantasy Flying! the FED could borrow some of that "extended baht currency loser", reinvest it by setting up Som Tam restaurants in the GNoE™ and Congress as well as Senate will pass a bill that all american citizens are required by law to eat very spicy som tam once a day and use public toilets which charge 5 dollars per dump.