Financial Crisis

[AlexLah]

Good site to look at exchange rate trends.

http://www.ecb.int/stats/exchange/eurofxre...l/index.en.html

[Nouf]

Bernanke calls time on the recession, he reckons its all good by the end of the year and growth starts in 2010

http://business.timesonline.co.uk/tol/busi...icle5881723.ece

Mmwwuuhuuuhhaaaaaa!!!!!!!

so let me guess, he has been calling the end to this Recession for the past 16 months, this comment goes right along these comments from the past 16 months:

The banks were fine accordingly to the CEO`s of Lehman and Bear Stearns just weeks before they went bankrupt

How about JPM or BAC or Citi-bank

What about the entire BS spewed from Paulson and Bernanke, “subprime is contained”

Shhheeeeesssshhhhh!!!!!

now we are suppossed to believe them. The guy has continued to call it wrong all the way down, yet we are supposed to take his word now

i hope they do get bullish for the summer, and rally the market, more meat on the bones so i can fade, when they finally click that the Economy is not going to come out of this downturn this year, when 3rd quarter earnings are dire

Bernankes been snorting too much white stuff i think,

anyone wants to take that call be my guest, but if you listened to that idiot the past 16 months, you just lost 50% of your 401K or stock portfolio,

I will take the other side of that bet,

Bernanke is one Dumb ass that needs to be fired, (not sure if he can even be fired, not even by executive order, so the US is fuc*ed with him in charge)

Edited March 11, 2009 by Nouf

[lannarebirth]

Bernanke calls time on the recession, he reckons its all good by the end of the year and growth starts in 2010

http://business.timesonline.co.uk/tol/busi...icle5881723.ece

Mmwwuuhuuuhhaaaaaa!!!!!!!

so let me guess, he has been calling the end to this Recession for the past 16 months, this comment goes right along these comments from the past 16 months:

The banks were fine accordingly to the CEO`s of Lehman and Bear Stearns just weeks before they went bankrupt

How about JPM or BAC or Citi-bank

What about the entire BS spewed from Paulson and Bernanke, "subprime is contained"

Shhheeeeesssshhhhh!!!!!

now we are suppossed to believe them. The guy has continued to call it wrong all the way down, yet we are supposed to take his word now

i hope they do get bullish for the summer, and rally the market, more meat on the bones so i can fade, when they finally click that the Economy is not going to come out of this downturn this year, when 3rd quarter earnings are dire

Bernankes been snorting too much white stuff i think,

anyone wants to take that call be my guest, but if you listened to that idiot the past 16 months, you just lost 50% of your 401K or stock portfolio,

I will take the other side of that bet,

Bernanke is one Dumb ass that needs to be fired, (not sure if he can even be fired, not even by executive order, so the US is fuc*ed with him in charge)

What I see is sector rotation and short covering. It could go on awhile, but sector rotation implies only a limited amount of capital chasing a much larger amount of financial instruments. Still it will be nice if deleveraging can take place in a more buoyant market.

Daily chart hit exhaustion levels on Friday. Weekly and monthly could go a while longer.

[Nouf]

What I see is sector rotation and short covering. It could go on awhile, but sector rotation implies only a limited amount of capital chasing a much larger amount of financial instruments. Still it will be nice if deleveraging can take place in a more buoyant market.

Daily chart hit exhaustion levels on Friday. Weekly and monthly could go a while longer.

Sure it does look like it, infact the rotation out of Metals(gold, silver) impies that we "may" have a S/T bottom here, or needing a new low, it really only becomes interesting if/when we take out 780 then 804

failing before hand suggests this is yet another false rally before a bigger rally "should" come over the summer period

Step away for the noise and 40-50 handle days are nothing in the grand scheme of the trend which is clearly down, and for those to be callling the "the bottom", ha ha

always the same, Cramerlites, like to be the ones that want a piece of history of bottom calling, only they seldom seem to forget the 30 or so times they called the bottom on the way down, and got there ass handed to them

such is the market, full on idiots that never actually trade, only the Media makes them out to be some sort of GURU, yet they are the worst pundits on the TV

Look at the Leaked Memo from Citi, shhhheeesshhh Citi have been making money for 2 months, what about the Level 3 and SIV assets that they seemed to off forgotten to tell the market

man even i could make money if the US government just kept bailing me out, eventually i will make money

but like you say its limited sector rotation and a squeeze, but then you are i have this seen the stunt before hundreds of times, so it makes no difference

only thing we need to be concerned is getting on the right side of the trend to your trading time frame,

thats why i will choose the #`s and patterns anyday over the News, as the news is there to confuse you the #`s dont lie

674 in globex support was found, like wise any retrace from here 701 really needs to hold, bulls dont want to see 691 lost, or we are in some sort of complex correction that will likely be seeing new lows

Longer term months out from here, i would be simply amazed if this market ever reached the heights of 1050 this summer, as there is simply not enough enough money in the market for those heights as the corruption is rife, and the only buyers are limited from the shorts, and a little from the side lines trying to chase any short squueze

Why anyone would want to put money into this market unless they are a trader is beyond me, the Public is long gooooonnneeee, twice in 8 years the market has riped apart their 401k,

they have been trying to force and have attempted to force a squeeze over the past week, they may have succeded but i will wait till 780 taken out, 1st, staying under 750 opens the door to lower

be lucky

Fun market huh!!!

But i guess the corruption makes the markets more fun, as this market would be sooooo boring if it went straight down

[colibra]

Very funny you know, these people on stage know exactly what they are doing and what it will lead to.

I mean certainly all is very clear now.

US leaving the Gold standard because they needed to take away the barrier that prevented them from increasing the debt.

Throw in some corrupted institutes that make sure this is made easier by inventing some fancy rules or non rules.

Create a few bublles to siphone off some wealth in between.

Then invent some new financial instruments that in time will create a bigger than big mess.

Et Voila, in roughly 35-40 years time you have the destruction of currency's and economy's

Next step the final doomscenario wich will include severe shortage of food, millions of people jobless and finaly some good old riots which than can be used to declare martial law and as a result their final police state will become reality.

As a result of hyperinflation new currency's will be introduced and the whole freakin game can start again.

How about that?

You are exactly right.

Everyone is looking for the bottom and when will we get there.

When the markets hit 0 and not before.

We have just been fleeced. One more area of fleecing to go gold. soon I think.

Then the depopulation can begin. Relax, kick back and enjoy the show if you can.

Its almost over now not much longer to wait.

[AlexLah]

Just as a reminder, there is some more bad weather coming.........

ANd how can we forget this man.

We won't!

[Naam]

yaaaaaawwwwwnnnnn... more boring and shitty pictures Alex. because it's easy to post and not much own thinking involved? what about some youtube clips showing nekkid women folks with big tits and big butts wiggling them? not to forget of course the relevant clips for our fellow gay members

[AlexLah]

Naam I have posted a nice linky in the men's only place.

Here I post only boring and stupid stuff just to annoy you.

[thaidrew]

Here's the real answer. When we had GBP (sterling) they were were something, now we have GBP Gordon Brown Pounds, sinking fast and soon to be worth a buck????????????????

[AlexLah]

A serious question.

How can we kick start the economy again?

The economy was fuelled by consumer spending and investment right?

Now consumers are spending less and saving more.

More people without a job means less spending and tax income.

Stimulus package that not support factory building in order to produce goods that can be sold.

Housing and IT bubbles have been used already.

Governments saying that they (the banks) have to promote lending.

Bail out money going to banks to pay off their obligations.

What to do?

Edited March 11, 2009 by AlexLah

[Chaimai]

A serious question.

How can we kick start the economy again?

What to do?

Maybe this question should have been asked circa 1,000 posts ago.

[Naam]

Naam I have posted a nice linky in the men's only place.

Here I post only boring and stupid stuff just to annoy you.

[cclub75]

A serious question.

How can we kick start the economy again?

The economy was fuelled by consumer spending and investment right?

Now consumers are spending less and saving more.

More people without a job means less spending and tax income.

Stimulus package that not support factory building in order to produce goods that can be sold.

Housing and IT bubbles have been used already.

Governments saying that they (the banks) have to promote lending.

Bail out money going to banks to pay off their obligations.

What to do?

Nothing. You have well summarized the main points of the crisis, and the absurdity of policies conducted by gvts around the world.

Relax, set back and enjoy the show. The crisis has just begun...

Like a good Bordeaux wine, it'll need time to mature, to develop aromas and the full extend of its force.

Edited March 11, 2009 by cclub75

[midas]

I am sure there will be some who will instantly jump up to discredit this information

and probably ridicule the low standard of the newspaper in which it was written but

at this stage it seems some people are considering news and information from all sources...............

House prices 'could drop another 55%' and leave Britain bankrupt

The report leaked yesterday from financial analysts Numis Securities says that the collapse in house prices is not 'anywhere near over'.

It also predicts a deep recession lasting throughout next year and a 'very real probability' that Britain will go bankrupt.

http://www.dailymail.co.uk/news/article-11...n-bankrupt.html

[quiksilva]

There's nothing like a good scary story to sell a few newspapers...

[samuibeachcomber]

scar mongering or not,its probably true,the govt. has to paint a more promising future rather like an estate agent.If house prices did go down to that 96000 pound level,and people started to get re employed in the future,they couldbuy houses at a sensible price and as wages increase down the track property values would increase too.As long as you are in your own house theirs no need to panic,if anyone's into investment property,maybe a different matter.

The bailing out of the financial and maunufacturing sector i think will come back to haunt the UK and USA.

[kevkev1888]

Just for the record, March 13-15.

Edited March 12, 2009 by kevkev1888

[12DrinkMore]

I am sure there will be some who will instantly jump up to discredit this information

and probably ridicule the low standard of the newspaper in which it was written but

at this stage it seems some people are considering news and information from all sources...............

House prices 'could drop another 55%' and leave Britain bankrupt

The report leaked yesterday from financial analysts Numis Securities says that the collapse in house prices is not 'anywhere near over'.

It also predicts a deep recession lasting throughout next year and a 'very real probability' that Britain will go bankrupt.

http://www.dailymail.co.uk/news/article-11...n-bankrupt.html

Doesn't seem totally out of court to me.

The statement from Brown asking the banks to lend at 2007 levels is utterly stupid. That was when the banks were at the peak of unsustainable lending. The man is an idiot. Instead of trying to force more lending Brown should be looking at the figures and trying to understand where Joe Public is at. And here it is for him

Joe Public is

- paying down debts

- saving

- putting off purchases because he is scared that he won't have a job tomorrow

- not interested in buying houses because everybody is forecasting that prices will drop further

- not able to buy anyway because he now needs a hefty deposit and can only borrow 2.5 times earnings

- worried about his pension, so even more savings are being made

- utterly pessimistic about the whole mess

- earning less due to reduced work

- having less cash for spending as inflation in basic goods has increased 10% over the last 12 months

When will Brown realise that these are forces that his rhetoric and spending binge are not going to change. Instead of creating money and thereby destroying even more wealth he should concentrate on several key factors to restore confidence, which surely has to come before spending will start?

- the bloated civil disservice has to be cut down to an affordable size

- the pension schemes need a total revision

- the whole banking sector has to be completely changed to separate commercial from investment banking

- long term plans for a sustainable economy have to be made, including 5, 10 and 20 year horizons

- the stock market has to be restructured to remove entirely the casino players. The stock market should return to its original role of allowing companies to raise money for their long term development. Shorting, particularly uncovered shorting, plus all the other speculative and highly geared instruments have to be removed from the face of the earth. Any original purpose of protecting against market changes has been cast aside over the last 10 years, so the stock markets are basically just immense gambling dens.

- those responsible for the mess must be removed from their positions and prosecuted, so Joe Public can see there is some fairness in the world.

etc etc

But it won't happen, because Brown has only one goal in sight, the next election. I doubt very much whether he believes that he will be elected, so he is performing the most hideous financial experiment in the history of the world, presumably hoping for a miracle as proof of his greatness or satisfying his curiosity what happens when the financial equivalent of a nuclear explosion is tested on the UK.

So it looks like the first 2 billion of freshly created money will be taken abroad, and presumably converted into another currency, putting even more pressure on the GBP.

http://www.dailymail.co.uk/news/article-11...one-abroad.html

That's exactly what I would do if I was a foreign investor looking at the state of the UK.

I loved the expression, "everything he touches turns to dust".

(oh and look at these bunch of tossers

http://www.independent.co.uk/life-style/ho...ay-1642812.html

The typical cost of a home in England has fallen to £202,447 from £239,090 since March 2008 - a drop of £110 per day. The average income in England is £73 per day.

Not living on the same planet as you and I, average price 202,000 my arse, ell other reports are saying around 160,000 )

Edited March 12, 2009 by 12DrinkMore

[churchill]

Central Banks In A 'Pickle'

only solution Hyperinflation !

http://www.gold-eagle.com/editorials_08/laird031109.html

[12DrinkMore]

Central Banks In A 'Pickle'

only solution Hyperinflation !

http://www.gold-eagle.com/editorials_08/laird031109.html

All these bullshit speculative and highly geared bets have to be removed from the system.

The world governments should simply call "STOP NOW!"

Here is my simple plan to get the financial system back under control

Step 1.

Immediately make illegal any further short selling.

Like nuclear waste all of these over the counter contracts should be then given a special status "On hold due to acute economic failure". Then every single fukcing contract should be unwound, with the premiums being returned and liabilities cancelled. This would take a HUGE amount of uncertainty and liabilities out of the world, in excess of 1,000,000,000,000,000 if the estimates are correct.

Separate the commercial from the investment banking for all banks.

Step 2.

Clean up the commercial banks and put them on a sound footing, with an small army of Mr Mainwarings running them. Bring up the fractional reserve requirement to 50%, so that all loans are backed by 50% of depositors cash.

Continue to remove the derivatives from the market by cancelling them and having the premiums returned.

step 3.

Refuse to bail out a single investment bank and put a law to that effect into the constitution, so that anybody who invests money here knows the risks.

Printing more cash so that the ba5tards can continue to play in the casino is utterly stupid. Expecting the public to start a spending binge is stupid. The evil root cause has to be removed. Brown comes to mind, but this time it is the quadrillions of unknown liabilities which are fukcing it all up.

[samuibeachcomber]

yes 12,its called commonsense,something politicians refuse to recognise because they all have vested interests,they are really in league to a certain extent with the people that caused this problem,to enable themselves to get rich too,at everyone elses expense................tony blair is a prime example.

[12DrinkMore]

And the more I think about it, this has to be a solution that could work. And could also convince the general public that something serious is being done, and it would be something which Joe Public COULD EVEN UNDERSTAND and get optimistic over.

There are just a handful of countries involved in this nonsense, UK, USA, Germany, Switzerland, Sweden I think are the worst offenders.

And in these countries it is always the same handful of banks that have been involved in this massive speculation, primarily the same bastards who keep clamouring for more and more bailouts. This is surely something that can be done, especially as the banks are all bordering on nationalisation anyway.

So instead of the tax payers real money being chucked in the bottomless pit, lets fix this at source and take away all of the fictitious gains and specualtive liabilities from the banks, and then go after the bonuses as well, with a few prosecutions thrown in. Maybe, just maybe, once all the spaghetti has been unravelled the problem might not be so vast.

Surely if the liabilities were written down to just returning the initial bet we would have made huge progress.

Better an end with horror rather than a horror without end.

BTW when did "Ready to Kill" get deleted from the thread's name????

[lannarebirth]

Central Banks In A 'Pickle'

only solution Hyperinflation !

http://www.gold-eagle.com/editorials_08/laird031109.html

All these bullshit speculative and highly geared bets have to be removed from the system.

The world governments should simply call "STOP NOW!"

Here is my simple plan to get the financial system back under control

Step 1.

Immediately make illegal any further short selling.

Like nuclear waste all of these over the counter contracts should be then given a special status "On hold due to acute economic failure". Then every single fukcing contract should be unwound, with the premiums being returned and liabilities cancelled. This would take a HUGE amount of uncertainty and liabilities out of the world, in excess of 1,000,000,000,000,000 if the estimates are correct.

Separate the commercial from the investment banking for all banks.

Step 2.

Clean up the commercial banks and put them on a sound footing, with an small army of Mr Mainwarings running them. Bring up the fractional reserve requirement to 50%, so that all loans are backed by 50% of depositors cash.

Continue to remove the derivatives from the market by cancelling them and having the premiums returned.

step 3.

Refuse to bail out a single investment bank and put a law to that effect into the constitution, so that anybody who invests money here knows the risks.

Printing more cash so that the ba5tards can continue to play in the casino is utterly stupid. Expecting the public to start a spending binge is stupid. The evil root cause has to be removed. Brown comes to mind, but this time it is the quadrillions of unknown liabilities which are fukcing it all up.

The solution is always inflation. Hyperinflation is no solution, its just a different kind of problem. A worse one at that.

Make short selling illegal? You know the ban on shorting financial stocks is why the market can't find a bottom, don't you? Short sellers are the buyers at intermediate and long term bottoms. Longs have already shot their bolt by then. Might as well make selling stocks illegal and require that each buyer pay more than the previous "owner". Makes as much sense.

What you really want to do is get rid of these propietary trading desks from commercial banks. They don't care if the market goes up or down, or bankrupt. they'll find a way to earn off it.

Another thing they ought to be doing is cut back on lobbyists and ban ALL foreign lobbyists for a period of years. When THAT story finally sees the light of day folks are gonna be REALLY mad.

Edited March 12, 2009 by lannarebirth

[churchill]

Central Banks In A 'Pickle'

only solution Hyperinflation !

http://www.gold-eagle.com/editorials_08/laird031109.html

All these bullshit speculative and highly geared bets have to be removed from the system.

The world governments should simply call "STOP NOW!"

Here is my simple plan to get the financial system back under control

Step 1.

Immediately make illegal any further short selling.

Like nuclear waste all of these over the counter contracts should be then given a special status "On hold due to acute economic failure". Then every single fukcing contract should be unwound, with the premiums being returned and liabilities cancelled. This would take a HUGE amount of uncertainty and liabilities out of the world, in excess of 1,000,000,000,000,000 if the estimates are correct.

Separate the commercial from the investment banking for all banks.

Step 2.

Clean up the commercial banks and put them on a sound footing, with an small army of Mr Mainwarings running them. Bring up the fractional reserve requirement to 50%, so that all loans are backed by 50% of depositors cash.

Continue to remove the derivatives from the market by cancelling them and having the premiums returned.

step 3.

Refuse to bail out a single investment bank and put a law to that effect into the constitution, so that anybody who invests money here knows the risks.

Printing more cash so that the ba5tards can continue to play in the casino is utterly stupid. Expecting the public to start a spending binge is stupid. The evil root cause has to be removed. Brown comes to mind, but this time it is the quadrillions of unknown liabilities which are fukcing it all up.

Yes I agree they have to do something rather than pussy footing around - Make all these contracts that nobody really understood illegal and let those that want go through the courts .

[churchill]

Our representatives won't do it though will they - They will wait until it is virtually too late then panic .

[flying]

Our representatives won't do it though will they - They will wait until it is virtually too late then panic .

What is really scary is anytime they have a inquisition on TV in the US News.

Watching the congress or senate ask questions about all of this

Really drives home the fact that they have not a clue as to what caused it or what it is for that matter.

The financial gang could say..........Well it is because our dilithium crystals

Have run low & that is what caused this mess. I have a feeling the congress would say......

All Righty then how much are these crystals & how soon can we get them back up to snuff.

[12DrinkMore]

Make short selling illegal? You know the ban on shorting financial stocks is why the market can't find a bottom, don't you? Short sellers are the buyers at intermediate and long term bottoms. Longs have already shot their bolt by then. Might as well make selling stocks illegal and require that each buyer pay more than the previous "owner". Makes as much sense.

I have read a lot about short sellers.

These guys say that they are only the messenger, and that the company was already in trouble before they make a strike.

However, what they do is to "borrow" the stocks by paying a fee and then sell them in the market in the hope that this will drive the price down, so that they can buy the stocks back at a lower price and return them having hopefully made a profit. But who is "lending" the stocks and who actually owns the stocks being lent? In the main it is the dam_n fund managers managing the assets on behalf of Joe Public in the pension schemes, or other funds.

So the short seller makes money, the "lender" makes his fees on a percentage of the transaction but the real investor has lost out, both on the lending fee and the loss in value of his stocks. There has also been a rapid move down in the stockmarket, as shares have been sold that would possibly not have been put on the market.

The whole process of short selling is another casino game run at the expense of the long term investors. It adds more much volatility into the markets, which the traders like, but the long term investors, who would prefer to see less swings and more stability, hate.

Short selling is another leveraged financial bullshit product which destabilises the market for the benefit of the few who can act quick enough at the expense of the majority who can't and so should be banned.

[stumonster]

In the main it is the dam_n fund managers managing the assets on behalf of Joe Public in the pension schemes, or other funds.

<snip>

at the expense of the long term investors.

it has been a ponzi scheme with all the 401k investors as the mugs - I don't know that they have woken up to the reality of how they have been scammed yet though.

and 20+% unemployment means markedly less for the ponzi bucket.

[12DrinkMore]

Am I fed up with this lot of moaners.

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

“Their belief is that part of the reason that firms got in trouble was they had an excessive focus on bonuses because salaries were too low to live on.”

Too low to live on? You have to be kidding.

Johnson, in the interview today, acknowledged that Wall Street’s current base salaries may seem sufficient to some people outside the industry.

“In the real world it’s a lot of money, but if you’ve made millions, to have a $250,000 salary is kind of silly,” he said.

What millions have these guys made? Come on, collectively they have cost us trillions. They have collectively sent us all back 10 years or more in terms of asset write downs. At the end the bottom line will be a huge massive unbelievably large bill that will cost the tax payers well into this century. And they expect to be paid for it?

They should all join this criminal, Madoff

http://www.bloomberg.com/apps/news?pid=206...id=asmcBPMTWqWI

Long may he live in suffering! I hope a good number of the other financial criminals will join him too.

[flying]

Johnson, in the interview today, acknowledged that Wall Street's current base salaries may seem sufficient to some people outside the industry.

"In the real world it's a lot of money, but if you've made millions, to have a $250,000 salary is kind of silly," he said.

Long may he live in suffering! I hope a good number of the other financial criminals will join him too.

It is insane isn't it? 250k kind of silly???

As for Madoff I always thought he was a suicide waiting to happen.

I still think he will take that way out. I do not see him serving time.

They should by all means have had him in a cell from day one.

Another clear example of our failed system wasting even more money.

Has he not basically admitted guilt long ago? Why is a 10 million dollar bail even allowed?

He has no money of his own unless he can repay all he stole he has NO money of his own.

Why is that hard to understand? Ahhhhhhhhhh

Edited March 12, 2009 by flying