Naam Posted September 4, 2009 Share Posted September 4, 2009 “It’s not clear that the U.S. is recovering in a sustainable way,” Stiglitz, a Columbia University professor, told reporters yesterday in New York. to realise that one doesn't have to be a professor at Columbia University. Link to comment Share on other sites More sharing options...
12DrinkMore Posted September 4, 2009 Author Share Posted September 4, 2009 12 you will like this one China's national flag to go up in White House on Sept 20 The national flag of the People's Republic of China (PRC) will be hoisted at the South Lawn of the White House in Washington on September 20, media reported Sunday. Chinese associations in the United States had applied to hold a ceremony in front of the US President’s residence to celebrate the 60th anniversary of the founding of PRC. http://www.freerepublic.com/focus/f-news/2328363/posts Well, I suppose they provide enough financing to be considered one of the US's and Obama's biggest supporters, in fact they are just staking their rightful claim to sovereignty over the US of A. :D Link to comment Share on other sites More sharing options...
AlexLah Posted September 4, 2009 Share Posted September 4, 2009 Yes and he told that during the economic forum in BKK a few weeks ago more direct. Again I repeat he said: Forget the US. Recovery will not come anytime soon. Expect 10 years and maybe more to see any recovery, they hide the corpses and use funny book keeping tricks. Anyway, as I said I was in Jakartaaaaaaa, and had the opportunity to experience the 7+ Eartshake, really weird! But I stayed calm while others where running out of the the building/office I was. After JKT I spend half a day in Malaysia and there I also see no real signs of economic downturn, many working cranes finishing new buildings. Talked with some bizz people and they confirmed a slight downturn in sales of about 10-15% compared to 20-25% last year so it seems things are picking up slowly. On the way to the airport I had a chit chat with the driver and we had a good talk. This guy is hired by all the big MNC's and he was very talkative. Extracted some very interesting info from him, ha ha. Just see the add of TMB, they offer mortgages if you can do a 20% down payment and they offer a low interest rate, 3.5% or something if I remember well. Link to comment Share on other sites More sharing options...
sokal Posted September 4, 2009 Share Posted September 4, 2009 I walked into a bank here in Canada and bought 6 ounces and stuck it in my pocket.(in April) I could tell one of the clerks thought I was crazy. I will only get gun shy when the price is close to its inflation adjusted high of $2500. I am still a buyer. and you pay for your living expenses with what money? do you work or was there a big inheritance? I save my money. I am not talking to my family and I don't plan to so I have no inheritance. to save money you need a source to make money. so you work? I don't work right now. I will start after my next trip, I will land in Thailand on the 14th. Link to comment Share on other sites More sharing options...
flying Posted September 4, 2009 Share Posted September 4, 2009 This is how it is now going in Amerika....... My Congressional office? MY? <deleted>? Link to comment Share on other sites More sharing options...
ballzafire Posted September 4, 2009 Share Posted September 4, 2009 The so-called "recovery" is all B.S. The second wave of the downturn has yet to occur. Real estate has to hit bottom first and the job market has to improve, as well. Until then, it's all just B.S.... Link to comment Share on other sites More sharing options...
flying Posted September 5, 2009 Share Posted September 5, 2009 5 more banks bite the dust so far today that makes 89 this year. Things are so green shootish I can hardly believe my eyes. http://www.fdic.gov/bank/individual/failed/banklist.html Link to comment Share on other sites More sharing options...
BEENTHEREDONETHAT Posted September 5, 2009 Share Posted September 5, 2009 Did you vote for Obamanation? Link to comment Share on other sites More sharing options...
midas Posted September 5, 2009 Share Posted September 5, 2009 This is how it is now going in Amerika.......My Congressional office? MY? <deleted>? I wonder if his attitude changes around about election time..........? The lady should have said something like ...." my parents taxes are paying for you so we should have the absolute right to film " ? Who do these elected officials think they are ? Link to comment Share on other sites More sharing options...
churchill Posted September 5, 2009 Share Posted September 5, 2009 Sounds like Brown is beginning to panic Brown to G-20: Economy at 'critical juncture' http://www.google.com/hostednews/ap/articl...11LKswD9AH1VF80 Link to comment Share on other sites More sharing options...
Chunkton Posted September 5, 2009 Share Posted September 5, 2009 With Thailand's fascination with hubs that never amount to anything seems Hong Kong may be a gold hub for the region: Hong Kong Recalls Gold Reserves Link to comment Share on other sites More sharing options...
cloudhopper Posted September 5, 2009 Share Posted September 5, 2009 With Thailand's fascination with hubs that never amount to anything seems Hong Kong may be a gold hub for the region:Hong Kong Recalls Gold Reserves It already was. Link to comment Share on other sites More sharing options...
AlexLah Posted September 5, 2009 Share Posted September 5, 2009 A nice docu for Sunday viewing. I like it because there are some clips that show history, and I mentioned it many times, learn history! I mentioned stage 3 and the signal has been given recently. Get yourself a nice front row seat and hold on to it. Three Zero Seven, is the key. Link to comment Share on other sites More sharing options...
flying Posted September 5, 2009 Share Posted September 5, 2009 A nice docu for Sunday viewing. Thanks I had wondered about that dvd IOUSA I did not realize someone had uploaded it. Good for Saturday viewing here Link to comment Share on other sites More sharing options...
12DrinkMore Posted September 6, 2009 Author Share Posted September 6, 2009 India, not unexpectedly, is the next country to buy SDR's. http://www.imf.org/external/np/sec/pr/2009/pr09300.htm Link to comment Share on other sites More sharing options...
badge Posted September 6, 2009 Share Posted September 6, 2009 India, not unexpectedly, is the next country to buy SDR's.http://www.imf.org/external/np/sec/pr/2009/pr09300.htm I have accounts holding SDR composition currencies. Is it meaningful? No. Is it a new phenomena? No. Is it prudent? Yes. Little more to be gleaned from anything SDR related in my opinion. Link to comment Share on other sites More sharing options...
teletiger Posted September 6, 2009 Share Posted September 6, 2009 Richard Daughty. AKA Mogambo Guru. Weeeeeeee...love this guy. Feeling Good About a Falling US GDP Posted: Thu, 03 Sep 2009 16:22:10 +0000 The Bureau of Economic Analysis at bea.gov has put out their latest report of Gross Domestic Product, and it was, as you would expect from the steady drumbeat of gloomy economic news, down. The reason is exactly what you would think: “The decrease in real GDP in the second quarter primarily reflected negative contributions from private inventory investment, nonresidential fixed investment, personal consumption expenditures (PCE), residential fixed investment, and exports”, which is where I ran out of breath, mostly because my heart was pounding in fear and my muscles were twitching as that old familiar, “fight-or-flight” rush of raw adrenaline squished into my bloodstream. For some reason, I think that we are supposed to be calmed that these losses “were partly offset by positive contributions from federal government spending and state and local government spending.” Gaaaaaahhhh! Since I find it hard to express the horror I feel as a result of GDP falling while government spending is increasing, I will not try, and instead focus on the arcane handling of imports which, of course, seems perverse, in that imports are a subtraction in the calculation of GDP, so that when imports increase, GDP decreases. Not this time, though! You can tell by the way the birds have stopped singing and the world seems to have caught its collective breath that GDP went down even more than you think because imports decreased, too, which means that, again seemingly perversely, GDP was registered as having an increase as a result, when, in fact, everyone has been laid off and bankrupted as we die a horrible economic death, screaming in financial pain from letting the filthy Federal Reserve create so much money and credit all those years so that the corrupt Congress could borrow and spend us into the calamity of $12 trillion of federal government debt in a $14 trillion economy, and a system of governments and public sector agencies that spends, collectively, half of GDP, supports almost half of the population, and employs directly and indirectly about 1-out-of-3 workers! Hahaha! We’re idiots! We doofus Americans are bona fide idiots! Hahaha! Oddly enough, apparently puncturing my “we’re idiots” stance, we know how to make a profit even as the economy collapses, and “Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $67.6 billion in the second quarter, compared with an increase of $59.1 billion in the first quarter.” I say “oddly enough” because I figured that with sales falling and tax revenues falling, profits would be down. I was wrong! Admittedly, accounting was never my long suit, especially the new kind of accounting where all kinds of strange, bizarre accounting-type things can happen, like how I end up owning myself and having to sue myself because I won’t pay myself some money I loaned myself against the equity of some money that I had previously borrowed from myself, which I can’t do because of the unrealized tax consequences of accrued future off-balance sheet liabilities of deferred contingent options and warrants collateralized into derivatives and related offsets, a condition which my computer model said could not happen in a million years. Like I said, I am no expert on why businesses are making money, and I am certainly not sure why “Taxes on corporate income increased $40.8 billion in the second quarter, compared with an increase of $47.0 billion in the first”, which seems at odds with Barron’s reporting that the per-share earnings of the 500 largest companies in America (S&P 500) are, as of Right Freaking Now (RFN), a miniscule $7.90, while a share of the index sells for the laughable price of $1,029, meaning that the P/E ratio is a preposterous 130! Hahaha! I laugh nervously because I am lost and scared, as I am not sure that Toto and I have ever been in this part of the enchanted forest before, because everybody seems to be insane enough to buy a stock at 130 times earnings, they seem to be stupid enough to accept record-high prices (and thus record-low yields) on bonds, even as a massive, multi-year, globally-coordinated “stimulus” of staggering amounts of money via “quantitative easing” gets into gear, but yet these strange people are not buying gold, silver and oil to capitalize on the blistering inflation in consumer prices this will surely cause! But as astonishing as this corporate profitability is, for reasons I do not understand, I do know that the monetary base went to $1.733 trillion from $1.647 trillion the week before, which means that $86 billion of new money was created in One Freaking Week (OFW), and that is, fortunately, all you need to know to buy gold, silver and oil, which is what makes it so easy that you rejoice aloud, saying, “Whee! This investing stuff is easy!” http://feeds.feedburner.com/TheMogamboGuru Regards. Link to comment Share on other sites More sharing options...
teletiger Posted September 6, 2009 Share Posted September 6, 2009 Here's a good a place as any. I normally like Mish ( Mike Shedlock) but this smacks of ...."after the horse has bolted". "The trends seem to show people are getting increasingly fed up with unions even as Obama himself is clearly leaning the other way. Certainly the defined benefit pension plans of public workers are nothing short of outrageous as well as one of the primary reasons many states and municipalities are in deep fiscal trouble. Waning support of unions is a good thing." http://globaleconomicanalysis.blogspot.com/ He's not sitting on the fence......which I like. Public pensions seems to be the "hard on" subject of late. Both sides of the pond. Regards. Link to comment Share on other sites More sharing options...
lannarebirth Posted September 6, 2009 Share Posted September 6, 2009 Here's a good a place as any.I normally like Mish ( Mike Shedlock) but this smacks of ...."after the horse has bolted". "The trends seem to show people are getting increasingly fed up with unions even as Obama himself is clearly leaning the other way. Certainly the defined benefit pension plans of public workers are nothing short of outrageous as well as one of the primary reasons many states and municipalities are in deep fiscal trouble. Waning support of unions is a good thing." http://globaleconomicanalysis.blogspot.com/ He's not sitting on the fence......which I like. Public pensions seems to be the "hard on" subject of late. Both sides of the pond. Regards. Except for government workers, "Labor" is a spent force in America: strikes.bmp Link to comment Share on other sites More sharing options...
flying Posted September 6, 2009 Share Posted September 6, 2009 (edited) The Shell Game - How the Federal Reserve is Monetizing Debt http://www.chrismartenson.com/blog/shell-g...zing-debt/25806 Also this which I have not gotten to yet but may be a good listen inflation vs deflation Puplava interview with Robert Prechter http://www.netcastdaily.com/broadcast/fsn2009-0905-3a.asx opens in windows media player Edited September 6, 2009 by flying Link to comment Share on other sites More sharing options...
teletiger Posted September 6, 2009 Share Posted September 6, 2009 Except for government workers, "Labor" is a spent force in America:strikes.bmp Your graph could mean 2 things. A: Labour is a spent force in America. B: Labour are getting everything they ask for. In my opinion, the Unions were a key factor in the downfall of GM. Regards. Link to comment Share on other sites More sharing options...
sokal Posted September 6, 2009 Share Posted September 6, 2009 The Shell Game - How the Federal Reserve is Monetizing Debthttp://www.chrismartenson.com/blog/shell-g...zing-debt/25806 Also this which I have not gotten to yet but may be a good listen inflation vs deflation Puplava interview with Robert Prechter http://www.netcastdaily.com/broadcast/fsn2009-0905-3a.asx opens in windows media player Prechter is an idiot if he thinks that interest rates are not controlled by the Fed. What is he thinking ? They have their meetings to decide what to do with interest rates. Prechter also doesnt seem to understand that a high amount of this debt and derivative paper he is talking about exsists to suppress the price of gold. The Plunge Protection Team does exsist. Link to comment Share on other sites More sharing options...
flying Posted September 6, 2009 Share Posted September 6, 2009 (edited) Prechter is an idiot if he thinks that interest rates are not controlled by the Fed. What is he thinking ? They have their meetings to decide what to do with interest rates.Prechter also doesnt seem to understand that a high amount of this debt and derivative paper he is talking about exsists to suppress the price of gold. The Plunge Protection Team does exsist. I have not had time to listen to the whole thing. Its pretty long. Does seem he realizes he was wrong on gold. Edited September 6, 2009 by flying Link to comment Share on other sites More sharing options...
Naam Posted September 6, 2009 Share Posted September 6, 2009 Prechter is an idiot... is there anybody whom you don't call an idiot Sokal? Link to comment Share on other sites More sharing options...
sokal Posted September 6, 2009 Share Posted September 6, 2009 Prechter is an idiot if he thinks that interest rates are not controlled by the Fed. What is he thinking ? They have their meetings to decide what to do with interest rates.Prechter also doesnt seem to understand that a high amount of this debt and derivative paper he is talking about exsists to suppress the price of gold. The Plunge Protection Team does exsist. I have not had time to listen to the whole thing. Its pretty long. Does seem he realizes he was wrong on gold. Allot is riding on his oil to gold ratio prediction which almost went out of wack last week. He is too much of a social engineer for me. Link to comment Share on other sites More sharing options...
sokal Posted September 6, 2009 Share Posted September 6, 2009 Prechter is an idiot if he thinks that interest rates are not controlled by the Fed. What is he thinking ? They have their meetings to decide what to do with interest rates.Prechter also doesnt seem to understand that a high amount of this debt and derivative paper he is talking about exsists to suppress the price of gold. The Plunge Protection Team does exsist. I have not had time to listen to the whole thing. Its pretty long. Does seem he realizes he was wrong on gold. Allot is riding on his oil to gold ratio prediction which almost went out of wack last week. He is too much of a social engineer for me. I wonder why CapitanArc hides in his own little thread without backing himself up on the rest of the discussions. Link to comment Share on other sites More sharing options...
sokal Posted September 6, 2009 Share Posted September 6, 2009 Prechter is an idiot... is there anybody whom you don't call an idiot Sokal? You took that out of context. I said he is an idiot if he thinks the fed doesnt control interest rates. The target federal funds rate is set by the Federal Open Market Committee (FOMC). By setting a target federal funds rate and using the tools of monetary policy--open market operations, discount window lending, and reserve requirements--to achieve that target rate, the Federal Reserve and the FOMC seek "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates," as required by the Federal Reserve Act. Link to comment Share on other sites More sharing options...
Naam Posted September 6, 2009 Share Posted September 6, 2009 Prechter is an idiot... is there anybody whom you don't call an idiot Sokal? You took that out of context. I said he is an idiot if he thinks.... the context does not matter. you have been using the expression "idiot" left and right. reading that from somebody who opens a thread (link below) makes me http://www.thaivisa.com/forum/Girls-Smalle...ml&hl=girls Link to comment Share on other sites More sharing options...
flying Posted September 6, 2009 Share Posted September 6, 2009 You know having spent a hour listening I will say he is a very clear speaker & his arguments/explanations of many different problems was quite interesting. His views on the FED, Health insurance, cash for clunkers etc.. He also believes this rally was the last for a long time to come for those that needed to get some of the $$ back they had lost. Overall I would say it was a good listen. I may even go back & skim it again. But for now I'm off with the wife to see Inglorious Bastards I rarely go to the movies & its raining so what the hel_l....LOL Link to comment Share on other sites More sharing options...
samuibeachcomber Posted September 7, 2009 Share Posted September 7, 2009 can someone explain to me what sdr's are? some posters are intimating that these could be the new world currency,can anyone explain this to me,and can any of you financial guys tell me the route to how i buy some gold? For example to buy shares in co. producing gold,or to buy physical gold to hedge against any possible future loss of money held in banks. any advice/help would be appreciated. Link to comment Share on other sites More sharing options...
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