Financial Crisis

[12DrinkMore]

The Royal Family

Freedom of Speech

Not sure what your point is here, maybe a missed link?

Anyway, here is the PRESIDENT OF THE UNITED STATES SPEAKING. Take a breath.

Obama said. "We got better stuff to do. I've got better stuff to do. We got big problems to solve, and I'm confident we can solve them, but we're going to have to focus on them, not on this."

http://www.bloomberg...d-disputes.html

Bugger me, with that eloquent expression and flair for the language this man is gong to go FAR, particularly with morons and TV addicts. Is that YOU , USA?

Yeah man, we're talking 'bout the stuff here, yeah the real stuff. We gotta a whole lotta real problems man, just lay offa da bullshit dude, I'san American, like pure bred shit and all that, now let's get back to the stuff, get real man. BIG problems, like gimme the thinking distance.

Even I am utterly embarrassed hearing that. And I am just a <deleted> human on the planet with no US connections.

Edited April 27, 2011 by 12DrinkMore

[flying]

FED Reserve has announced

FED Rate remains unchanged

Waiting for the Bernanke news conference due to start in an hour

[12DrinkMore]

UK economy dead in the water.

http://www.independent.co.uk/news/uk/home-news/growth-figure-fuels-recovery-fears-2275355.html

stagnant economy made an imminent interest rate hike a "tough proposition"

Vicky Redwood, senior UK economist at Capital Economics, said: "The figures suggest that underlying activity in the economy remains pretty much stagnant.

"The 0.5% quarterly rise in output means that the economy did nothing more than reverse the fourth quarter's snow-related dip.

"In fact, if there was some temporary 'catch-up' of output lost in the fourth quarter, then underlying growth may even have been slightly negative."

Howard Archer, chief UK and European economist at IHS Global Insight, said with consumers' spending power squeezed, the outlook for growth remained a cause for concern.

"The muted first quarter rebound in GDP growth reinforces our suspicion that growth will be limited going forward as the fiscal squeeze increasingly kicks in," he said.

I have no idea who Redwood and Archer are, but anybody around here prepared to argue it's getting better?

The next few months will see all my remaining GBP and USD assets moving into other more interesting areas. Wish I had done it earlier, stupid of me to think that there was anything left in the UK and US economies worth investing in.

Edited April 27, 2011 by 12DrinkMore

[12DrinkMore]

FED Reserve has announced

FED Rate remains unchanged

Waiting for the Bernanke news conference due to start in an hour

Why wait, you know what he will say. Get some shut eye in and read it in the morning.

[flying]

FED Reserve has announced

FED Rate remains unchanged

Waiting for the Bernanke news conference due to start in an hour

Why wait, you know what he will say. Get some shut eye in and read it in the morning.

:lol: I am in the US & it is morning

I have a hunch what he is going to say.

I am betting he will downgrade the economy ever soooo slightly

More interested in the markets reaction to the news

[flying]

:lol: I am in the US & it is morning

I have a hunch what he is going to say.

I am betting he will downgrade the economy ever soooo slightly

More interested in the markets reaction to the news

hahahah he just said we are taking our forecast down ....just a bit

Also have to laugh as he said inflation will come down when commodities ease

While he is speaking commodities are going up nicely

[KunMatt]

They sure are trying to get the UK peeps excitied about a recovery.

http://www.bloomberg...since-2006.html

Britain's economy rebounded in the first quarter by enough to erase the contraction of the previous three months on the strongest surge in service-industry growth for four years

"Rebounded" "Strongest Surge"

Give me a break

"The 0.5 is an arithmetic effect," Joe Grice, chief economist at the ONS, told reporters at a briefing in London. "Simply the fact that snow and adverse weather conditions reduced GDP abnormally in the fourth quarter by 0.5 percent, there will have been an arithmetic 0.5 percent increase which will just take you back to the same level."

Yeah, that seems more likely. Flatlining, if the UK is lucky otherwise down the slippery.......

Good job there is a <deleted> Royal Marriage taking place this week. It's keep the peeps glued to their widescreens with all that pomp and piss take.

Still so angry and bitter. You are beginning to lose all rationale and starting to sound like a conspiracy theorist who only picks out the parts that support his very biased views.

Anyways, before that 0.5% contraction the UK grew 4 periods in a row to the end of 2010, so the data for the first period of 2011 would just bring it back up to that reference frame which was still in the positive. During the crunch it shrank 6 times in a row, so you could just choose when you start your reference to suit your argument.

http://news.bbcimg.c...70411_304gr.gif

[flying]

Conference over & again have to laugh....

As soon as it is over the empty suits on TV all kissing Bernanke's a$$

All saying Bernanke can go home tonight feeling satisfied at the reactions to his speech.

They pointed out how the DOW rose 60 points.

But as always Rick Santelli came out & blasted them & rightfully so.

He said I would not call it a success when the dollar lost & Gold & Silver rose like crazy

:lol:

picture worth more than words.........Note he started taking questions around 2:15

Edited April 27, 2011 by flying

[churchill]

One very good way - or sell Alaska /

Radical Plan to Cut Military Spending and Help Balance the Budget ( before the Trumps of this world get anywhere near the controls )

http://globaleconomicanalysis.blogspot.com/2011/04/radical-plan-to-cut-military-spending.html

Edited April 28, 2011 by churchill

[churchill]

Fight of the Century: Keynes vs. Hayek Round Two

[BlackJack]

Will Joker Trump now go away ?

Obama Releases Long-Form Birth Certificate, Will Address Nation At 9.45 AM

http://www.zerohedge.com/article/obama-release-long-form-birth-certificate-will-address-nation-945-am

well it took them long enough to make one

should have sent it to Thailand and they could've made him one in 24 hours

[flying]

Grim little report

Any chart types know what is the one line of support for the USD he mentioned? 70?

Bernanke Has Officially Killed the Dollar

Phoenix Capital Research's picture

Submitted by Phoenix Capital Research on 04/28/2011 11:24 -0400

Yesterday, Bernanke staged a “conference” answering “questions” from “journalists.” It’s striking that the man with the most power in the world would be handled with kid gloves. After all, if he’s in charge of directing the world’s reserve currency, surely he could answer a few hardball questions about his insane policies.

However, instead of holding this miscreant accountable for his monetary madness, the “journalists” let him prattle on with his meaningless drivel.

The markets, on the other hand, read through his BS. Soon after the conference the US Dollar collapsed to a three year low.

At this point, there is only one line of support left for the US Dollar. That’s one line, standing between us and the abyss of all-time lows: a point at which there is no support left.

Gold and Silver also bounced back after having been slammed by various suppression schemes last week. All those, “the rally is over,” folks got shanked in the ribs as Gold hit a new all-time high and Silver retraced almost all of its former losses in a few hours.

In other words, the great inflationary collapse of the US Dollar is in full effect. Again, there is only one line of support left for the greenback. If Bernanke was going to do ANYTHING to support the Dollar, yesterday was the day for him to have done it. Instead, we’re going to enter a mega-inflationary collapse.

Indeed, at the current pace we’re going the US Dollar will be collapsing within one month. This could change, but we’d need another 2008 type event to pull the US Dollar back from the brink. And judging from stocks and inflation hedges’ performance today, that ain’t happening.

So if you are not already preparing for mega-inflation, you need to get moving now. Because time is running out.

Good Investing!

Graham Summers

[ronz28]

I guess he meant the previous low on March 17, 2008 at 70.70 but there is another pivot between here and there at 71.31 on July 15,2008 which could act as support. Currency traders also might consider Fibonacci extension support for the downtrend which I believe are at about $72.07 for 1.272 and 67.55 for 161.8.

[flying]

I guess he meant the previous low on March 17, 2008 at 70.70 but there is another pivot between here and there at 71.31 on July 15,2008 which could act as support. Currency traders also might consider Fibonacci extension support for the downtrend which I believe are at about $72.07 for 1.272 and 67.55 for 161.8.

Thanks Ron

I was curious but could not find good long term USD charts where you can set the parameters of time/date

[midas]

a story for 12D

" While the rest of Britain grapples with austerity, falling real wages and budget cuts, London real estate — super-prime London real estate, the best of the best — is back in the grip of another mania.

It’s like that whole Lehman thing never even happened. "

http://www.marketwatch.com/story/the-worlds-hottest-real-estate-market-2011-04-19

[12DrinkMore]

a story for 12D

" While the rest of Britain grapples with austerity, falling real wages and budget cuts, London real estate — super-prime London real estate, the best of the best — is back in the grip of another mania.

It's like that whole Lehman thing never even happened. "

http://www.marketwat...rket-2011-04-19

You have to note where the cash is coming from to push up the prices, Russians, Arabs plus the bloody bankers' bonuses. I liked the sentence

The second concern is that more and more actual British are being crowded out of the city

But you probably saw what is happening in other areas.

http://www.telegraph...essed-60pc.html

The 'other' housing market, where house prices have regressed 60pc

Edited April 30, 2011 by 12DrinkMore

[12DrinkMore]

http://www.telegraph...d-collapse.html

The sources said that such was the legal complexity trying to produce a report that would be cleared by RBS lawyers – fearful of possible legal action in the US – the project now needed a fundamental rethink.

So the FSA cannot produce a report into the failure of the fifth largest bank on the planet RBS because they are afraid of some <deleted> legal action in the States?

Come on, who the <deleted> rules the UK, the Government or some legal gits in the States?

Somebody has lost the plot in a big way.

But I liked the comment giving us a brand new collective noun,

A wunch of bankers

Edited May 1, 2011 by 12DrinkMore

[12DrinkMore]

Every once in a while a dose of Schiff is worth taking. So here's a good'un.

http://www.europac.net/media/video_blog/record_low_gas_prices_imf_china_us

[flying]

US food prices set for 'sustained' rise-Dallas Fed

CHICAGO, May 3 (Reuters) - U.S. food prices may be headed for a sustained bout of inflation, a Dallas Federal Reserve Bank researcher said on Tuesday, citing data on brand-named foods such as Campbell's soup and Kellogg's Frosted Flakes.

Prices for "more-processed" foods rose at an annualized 5.2 percent rate in January and February, compared with a decline of 0.9 percent in the first six months of last year, Dallas Fed senior economist Jim Dolmas said in the bank's latest Economic Letter.

Those prices are a more comprehensive gauge of future good price trends than overall food prices, Dolmas argued.

That's because producers of brand-named foods change prices less frequently than do makers of raw foods, and therefore incorporate a forward-looking view of food costs when they do set prices, he said. As prices of more-processed foods go, Dolmas wrote, so go overall food prices.

"A sustained period of higher food price inflation may be in store for U.S. consumers," he concluded.

Dolmas' focus on a subset of food prices to predict overall food price trends mirrors the Fed's use of core inflation, which excludes sharply higher food and energy prices, to anticipate overall inflation.

The Fed's decision to continue to pump liquidity into the U.S. economy late last month rested heavily on its view that recent commodities price increases are likely to be transitory.

Some analysts have criticized the Fed's focus on core inflation, and have suggested it should pay more attention headline inflation, which is rising much faster.

Dolmas -- whose boss, Dallas Fed President Richard Fisher has warned the Fed's super-easy monetary policy may be fueling future inflation -- defended the idea of a "core" inflation index.

"The idea that one can learn more about inflation by ignoring some of its components is certainly counterintuitive," Dolmas wrote. Still, he said, "Core inflation measures, to greater or lesser degrees, have this trend-tracking property.

[BlackJack]

Will Joker Trump now go away ?

Obama Releases Long-Form Birth Certificate, Will Address Nation At 9.45 AM

http://www.zerohedge.com/article/obama-release-long-form-birth-certificate-will-address-nation-945-am

well it took them long enough to make one

should have sent it to Thailand and they could've made him one in 24 hours

now some kid on youtube has shown the BC to be fake

oh well back to the Obama BS

[BlackJack]

Now this is going to hurt

Amid near-daily reports that the U.S. dollar continues to slide in value comes a report that China, the largest holder of U.S. debt, is considering dumping two-thirds of its dollar reserves, which currently stand at about $3.04 trillion.

According to a report from China's Xinhua news agency, Xia Bin, a member of the Chinese central bank's monetary policy committee, recommends Beijing reinvest its foreign exchange reserves "more strategically." He says China should lower its holdings to about $1 trillion instead.

He's not alone in making that recommendation. Tang Shuangning, chairman of China Everbright Group, says China's holdings of the dollar should be somewhere between $800 billion and $1.3 trillion, saying at a forum in Beijing that the country's current holdings are too high.

That position is further supported by Zhou Xiaochuan, governor of China's central bank, who said on Monday that China's foreign exchange reserves "exceed our reasonable requirement," and that Beijing should begin to diversity its vast pool of dollars.

So it would seem that the Chinese want to get out of the dollar business or, at a minimum, hedge their currency reserve bets by shedding greenbacks in favor of another currency - or several currencies - and other assets.

Why would they do that?

The Chinese are nothing if not shrewd capitalists, perhaps even more so than we are. While American corporations have led the world in economic growth for more than a century, China's government has had enough business acumen to become the world's second largest economy, overtaking Japan earlier this year and is on pace to overtake ours, despite some evidence to the contrary.

One analyst, Tyler Durden, writes that while China is likely weary of recycling dollars, they may not have any viable alternative - at least for now, while its own currency, remains devalued (artificially or otherwise).

"But that will all change very soon," Durden writes. "Once the push for broad Chinese currency acceptance is in play ... the USD (U.S. dollar) will be unpegged, promptly followed by China dumping the bulk of its USD exposure, and also sending the world a message that U.S. debt is no longer a viable investment opportunity."

It's clear Chinese economic leaders are eyeing alternatives to the U.S. dollar, and why wouldn't they? The dollar has been sliding for months and many economists see its value further declining due to "quantitative easing" (printing money) policies being pursued by the Fed.

It's Economics 101. You wouldn't get rid of something of value, would you?

Learn more: http://www.naturalnews.com/032252_China_US_debt.html#ixzz1LdS1kha1

[Naam]

Amid near-daily reports that the U.S. dollar continues to slide in value comes a report that China, the largest holder of U.S. debt, is considering dumping two-thirds of its dollar reserves, which currently stand at about $3.04 trillion.

should read:

"Amid near-daily reports that the U.S. dollar continues to slide in value comes a near-daily report that China, the largest holder of U.S. debt, is considering dumping two-thirds of its dollar reserves..."

[Naam]

One analyst, Tyler Durden, writes that while China is likely weary of recycling dollars, they may not have any viable alternative - at least for now, while its own currency, remains devalued (artificially or otherwise).

"But that will all change very soon," Durden writes. "Once the push for broad Chinese currency acceptance is in play ... the USD (U.S. dollar) will be unpegged, promptly followed by China dumping the bulk of its USD exposure, and also sending the world a message that U.S. debt is no longer a viable investment opportunity."

anal-yst Dyler Turd is partly right, China has no viable alternative. the remainder consists of his usual economic rubbish, presented in a sensational way, as are most his forecasts and anal-yses.

[Naam]

Indeed, at the current pace we’re going the US Dollar will be collapsing within one month.

another "anal" who presents his sensational views which are unrelated to reality

[SoloFlyer]

Anal-ytics, how sweet.

[BlackJack]

we wait we wonder we see

[teletiger]

Here's someone who gets it.

Timo Soini. Leader of the true Finn party.....telling it like it is.

http://online.wsj.com/article/SB10001424052748703864204576310851503980120.html?mod=WSJ_Opinion_LEFTTopBucket

"To understand the real nature and purpose of the bailouts, we first have to understand who really benefits from them. Let's follow the money."

How refreshing.

Regards.

[lannarebirth]

Here's someone who gets it.

Timo Soini. Leader of the true Finn party.....telling it like it is.

http://online.wsj.co...n_LEFTTopBucket

"To understand the real nature and purpose of the bailouts, we first have to understand who really benefits from them. Let's follow the money."

How refreshing.

Regards.

It's a good article but I couldn't get your link to work. Here's another:

http://www.elitetrader.com/vb/showthread.php?threadid=220266

[12DrinkMore]

The poor suffering Irish.

Screwed by their banks, politicians and their own avarice.

http://www.irishtimes.com/newspaper/opinion/2011/0507/1224296372123.html

Maybe that will get'em up from the TV and Guinness?

[flying]

interesting visual aid