Financial Crisis

[midas]

that's the excuse of pussy footers who missed the huge profits of the last 5 years. an opportunity like this happens only once in a life time.

If readers were entitled to 50 baht for every time you have reminded people in this thread about this fact they wouldn't need any other investment.

What is it about you that makes you want to continually castigate people who were merely more risk averse than you because they believed everything regarding the financial system had changed for the worse? Is a person who chooses not to gamble in a casino because he or she suspected cheating by " the house " less intelligent or less prudent than a person who still gambles compulsively whatever the conditions?

And incidentally when a financial system is riddled with fraud and corruption I see absolutely no difference between horse race betting, casinos and so-called stock and bond " markets ".

investing is not gambling. what you see is irrelevant for hundreds of millions investors.

when i point out that there was no stock market crash in 2007 and i get an *(&^*^%$ irrelevant answer about the growth of trees then i react with irony and facts.

my so-called "castigation" is nothing but a counter reaction to 5½ years whinging, whining, apocalyptic forecasts and last not least the promotion of rice fields and the purchase of gold in this thread.

" investing is not gambling. what you see is irrelevant for hundreds of millions investors"

The so-called “ markets “ have only been driven up because of the enormous amounts of money they have simply printed and pumped over the 5 1/2 years.

That's not investment! How does anyone including you possibly know that if they fall this time that it wont be like it was in Japan in 1990, where they never recover to anywhere near their current levels at which some people will lose a fortune.

the Random House dictionary on says:

Gamble: “To play at any game of chance for stakes. To stake or risk money, or anything of value, on the outcome of something involving chance.”

Invest: “To put money to use, by purchase or expenditure, in something offering profitable returns.”

“something involving chance.” A chance that the stock market can stay at anywhere near these levels under normal conditions

that is gambling to me

Edited August 28, 2014 by midas

[MJP]

Thai arable land in some areas has risen more in percentage terms these last 5 years than any of the worlds stock markets did.

That's sowing the seeds of ruin.

[MJP]

is it the anal or the telegraph journàrselist who got it wrong by mentioning 2007?

Federal Reserve's failure to raise interest rates could see a stock market slump to rival 2007, says analyst

Trees don't grow to the sky.

that's the excuse of pussy footers who missed the huge profits of the last 5 years. an opportunity like this happens only once in a life time.

If readers were entitled to 50 baht for every time you have reminded people in this thread about this fact they wouldn't need any other investment.

What is it about you that makes you want to continually castigate people who were merely more risk averse than you because they believed everything regarding the financial system had changed for the worse? Is a person who chooses not to gamble in a casino because he or she suspected cheating by " the house " less intelligent or less prudent than a person who still gambles compulsively whatever the conditions?

And incidentally when a financial system is riddled with fraud and corruption I see absolutely no difference between horse race betting, casinos and so-called stock and bond " markets ".

investing is not gambling. what you see is irrelevant for hundreds of millions investors.

when i point out that there was no stock market crash in 2007 and i get an *(&^*^%$ irrelevant answer about the growth of trees then i react with irony and facts.

my so-called "castigation" is nothing but a counter reaction to 5½ years whinging, whining, apocalyptic forecasts and last not least the promotion of rice fields and the purchase of gold in this thread.

Buy gold! Also organic jasmine rice paddies.

[MJP]

Doom and gloom: 2015 global recession warning from financial seers of the century

David Levy’s family has correctly called every major financial event in the US for decades. Now he’s warning of a global recession next year. Bernard Condon investigates.

http://www.independent.co.uk/news/business/analysis-and-features/doom-and-gloom-2015-global-recession-warning-from-financial-seers-of-the-century-9624700.html

[Naam]

the Random House dictionary...

...is to me as irrelevant as the uterus of a nun who swore eternal celibacy.

[Naam]

Buy gold! Also organic jasmine rice paddies...

...lose one third of your capital within three years, do not collect any yield and make sure the chanote is in the name of your Thai wife/girlfriend. then you can relax and look with disgust from the window of your hut at the mansion of a gambling neighbour.

[midas]

Buy gold! Also organic jasmine rice paddies...

...lose one third of your capital within three years, do not collect any yield and make sure the chanote is in the name of your Thai wife/girlfriend. then you can relax and look with disgust from the window of your hut at the mansion of a gambling neighbour.

IMHO we will pass through a period of time where living in a hut, hiding your wealth and pleading poverty will be more pragmatic than living in a mansion for everyone to see

[midas]

America was the land of opportunity, even if you were poor, provided you had just a bit of entrepreneurial spirit and determination.

But in today's America you would have to be extraordinarily tough to beat a system which is shockingly evolving into one where once you are downtrodden, you will remain downtrodden and if dont take care end up under the effective control of potentially corrupt corporate individuals who will leave a threat permanently hanging over you of imprisonment (probably also in a private prison)

Poverty Capitalism in 2014 – Introducing Private Probation Companies

The probation service and municipal court systems are also turning collections over to a national network of companies like Sentinel that profit from service charges imposed on the men and women who are under court order to pay fees and fines, including traffic tickets (with the fees being sums tacked on by the court to fund administrative services).

When they cannot pay these assessed fees and fines – plus collection charges imposed by the private companies — offenders can be sent to jail. There are many documented cases in which courts have imprisoned those who failed to keep up with their combined fines, fees and service charges.

http://libertyblitzkrieg.com/2014/08/28/poverty-capitalism-in-2014-introducing-private-probation-companies/

Edited August 29, 2014 by midas

[Naam]

Buy gold! Also organic jasmine rice paddies...

...lose one third of your capital within three years, do not collect any yield and make sure the chanote is in the name of your Thai wife/girlfriend. then you can relax and look with disgust from the window of your hut at the mansion of a gambling neighbour.

IMHO we will pass through a period of time where living in a hut, hiding your wealth and pleading poverty will be more pragmatic than living in a mansion for everyone to see

for people who decry these last years (and those to come) as deplorable it will be a piece of cake to hide their wealth. it is not difficult to hide something that doesn't exist

[lannarebirth]

Buy gold! Also organic jasmine rice paddies...

...lose one third of your capital within three years, do not collect any yield and make sure the chanote is in the name of your Thai wife/girlfriend. then you can relax and look with disgust from the window of your hut at the mansion of a gambling neighbour.

IMHO we will pass through a period of time where living in a hut, hiding your wealth and pleading poverty will be more pragmatic than living in a mansion for everyone to see

for people who decry these last years (and those to come) as deplorable it will be a piece of cake to hide their wealth. it is not difficult to hide something that doesn't exist

[MJP]

Buy gold! Also organic jasmine rice paddies...

...lose one third of your capital within three years, do not collect any yield and make sure the chanote is in the name of your Thai wife/girlfriend. then you can relax and look with disgust from the window of your hut at the mansion of a gambling neighbour.

IMHO we will pass through a period of time where living in a hut, hiding your wealth and pleading poverty will be more pragmatic than living in a mansion for everyone to see

for people who decry these last years (and those to come) as deplorable it will be a piece of cake to hide their wealth. it is not difficult to hide something that doesn't exist

I sense a black swan event is on the horizon.

Protect yourself.

[chiang mai]

Yes, I sense the same, one likely scenario is terrorist attacks in London resulting in loss of overseas investor confidence and all that entails.

[Naam]

...lose one third of your capital within three years, do not collect any yield and make sure the chanote is in the name of your Thai wife/girlfriend. then you can relax and look with disgust from the window of your hut at the mansion of a gambling neighbour.

IMHO we will pass through a period of time where living in a hut, hiding your wealth and pleading poverty will be more pragmatic than living in a mansion for everyone to seeB)

for people who decry these last years (and those to come) as deplorable it will be a piece of cake to hide their wealth. it is not difficult to hide something that doesn't exist

I sense a black swan event is on the horizon.

Protect yourself.

how to deal with black swans

[midas]

IMHO we will pass through a period of time where living in a hut, hiding your wealth and pleading poverty will be more pragmatic than living in a mansion for everyone to seeB)

for people who decry these last years (and those to come) as deplorable it will be a piece of cake to hide their wealth. it is not difficult to hide something that doesn't exist

I sense a black swan event is on the horizon.

Protect yourself.

how to deal with black swans

Yes well of course that kind of suggestion from you doesn't surprise me one bit.

In the UK a statute dating from 1186 (reaffirmed by the Act of Swans of 1482 and the Wild Creatures and Forest Law Act of 1971 rendered this to be an act of Treason and could result in the death penalty because all Swans in the UK technically belong to Queen Elizabeth.

But then again I always remember your friend lannarebirth commenting very early in this very thread that to be successful in the so-called “ markets “ that we've had around since 2008 that you needed to be able to “ think like a criminal “.

[Naam]

In the UK a statute dating from 1186 (reaffirmed by the Act of Swans of 1482 and the Wild Creatures and Forest Law Act of 1971 rendered this to be an act of Treason and could result in the death penalty because all Swans in the UK technically belong to Queen Elizabeth.

But then again I always remember your friend lannarebirth commenting very early in this very thread that to be successful in the so-called “ markets “ that we've had around since 2008 that you needed to be able to “ think like a criminal “.

if the pills the good doctor prescribed for your constipation don't work i suggest a triple portion of prikh nam pla. success guaranteed!

[midas]

In the UK a statute dating from 1186 (reaffirmed by the Act of Swans of 1482 and the Wild Creatures and Forest Law Act of 1971 rendered this to be an act of Treason and could result in the death penalty because all Swans in the UK technically belong to Queen Elizabeth.

But then again I always remember your friend lannarebirth commenting very early in this very thread that to be successful in the so-called “ markets “ that we've had around since 2008 that you needed to be able to “ think like a criminal “.

if the pills the good doctor prescribed for your constipation don't work i suggest a triple portion of prikh nam pla. success guaranteed!

dont need pills - your posts keep me more than regular

[MJP]

Billionaire Tells Americans to Prepare For 'Financial Ruin'

http://www.moneynews.com/Outbrain/Trump-Aftershock-American-Economy/2012/11/06/id/462985/

. . . oh no wait, it's Donald Trump. Scrub that.

[midas]

Billionaire Tells Americans to Prepare For 'Financial Ruin'

http://www.moneynews.com/Outbrain/Trump-Aftershock-American-Economy/2012/11/06/id/462985/

. . . oh no wait, it's Donald Trump. Scrub that.

thanks for that

its not only Trump. It' s also about this book which i hadnt heard about

i think i will read it

https://w3.newsmax.com/LP/Finance/FIR/Aftershock-Video?promo_code=otrynrb3

Edited August 30, 2014 by midas

[MJP]

Another billionaire . . . another warning . . .

http://www.moneynews.com/MKTNews/Billionaire-yellen-market-collapse/2014/07/21/id/583962/

[midas]

China banking crisis 'almost certain', warns economist Gabriel Stein

China's financial system is "almost certain" to face a full blown banking crisis according to a senior international economist. “ We think the financial risks are high. Bad loans are understated. “

"A small bank may be allowed to fail and you could get a Chinese Lehman Brothers effect," he said,“ There is a possibility of contagion through countries with banking links to China such as Hong Kong, Taiwan and Korea"

http://www.smh.com.au/business/china/china-banking-crisis-almost-certain-warns-economist-gabriel-stein-20140902-10bcog.html

[Somtamme]

If you look back the New Economic Foundation had predicted the crisis back in 2008, but organisations (central controlling banks) and politicians did seemingly nothing to stop. The route causes from this triple crunch are still out there for many. All the UK Govt has done is to replace the governor of the Bank of England and appoint a consultant (Lord Vickers) called the Banking Commission to review the current banking system.

http://www.neweconomics.org/publications/entry/triple-crunch

[Somtamme]

If anyone is interested also see the New Economics Foundation's publication, New Green Deal also published in 2008 i.e. prior to the banking crisis; http://www.neweconomics.org/publications/entry/a-green-new-deal. It is clear therefore, that some astute think tanks had predicted the crisis from occurring.

But the Bank of England (BoE) had apparently, and similarly, been highlighting the risks and vulnerabilities in the financial system for according to the BoE 'for some years' but these factors according to the BoE had however been 'difficult to quantify'.

I fundamentally disagreed with the BoE's position and was left confused in the role of the Bank of England. It is the role of BoE as of from 2013 to be the regulator of the financial institutions. It therefore seems highly surprising to me, that the UK Govt chose to appoint an independent body (the Independent Commission on Banking; ICB) to prepare its White Paper rather than appoint the preferred regulator of these financial institutions. A regulator is supposed to be independent of the services it controls and it should be expected that this body has the tools to fully manage all potential risks. Instead the UK has actions as set out in the ICB report.

[Somtamme]

If anyone is interested also see the New Economics Foundation's publication, New Green Deal also published in 2008 i.e. prior to the banking crisis; http://www.neweconomics.org/publications/entry/a-green-new-deal. It is clear therefore, that some astute think tanks had predicted the crisis from occurring.

But the Bank of England (BoE) had apparently, and similarly, been highlighting the risks and vulnerabilities in the financial system for according to the BoE 'for some years' but these factors according to the BoE had however been 'difficult to quantify'.

I fundamentally disagreed with the BoE's position and was left confused in the role of the Bank of England. It is the role of BoE as of from 2013 to be the regulator of the financial institutions. It therefore seems highly surprising to me, that the UK Govt chose to appoint an independent body (the Independent Commission on Banking; ICB) to prepare its White Paper rather than appoint the preferred regulator of these financial institutions. A regulator is supposed to be independent of the services it controls and it should be expected that this body has the tools to fully manage all potential risks. Instead the UK has actions as set out in the ICB report.

[lannarebirth]

you are not broke anymore?

Always deadbroke but fully alive and never asleep and never discussing Oligarchs at great turns like that of Oct 2007, March 2009 and July 25th, 2014 - which is why I catch 'em.

Oct 2007 and March 2009 = correct. but the jury is still out to decide whether a great turn has happened in july. we'll know within a few days.

You're waiting for the jury aka HERD to tell you when\if? At major turns these cats are always late and dead when a turn has been acknowledged.

Therefore as a lone warrior I state July 17th, 2014 was the TOP and July 25th confirmed it. A BEAR market of historic proportions is underway.

Another hubristic warrior impaled by, then trampled under hoof of the passing "herd".

[mccw]

^ the gold explosion didn't materialise either.

[MJP]

ECB lowers eurozone interest rates to 0.05%

http://www.bbc.co.uk/news/business-29063348

QE next.

I tell you Naam, I'm right on the nest round money printing.

[mccw]

Amazing 0.05, what next 0.01? What a joke; not much space left to go. And still economy on edge of ruin. Money printing on the way for sure; maybe not today but soon. Even then it might not be enough; too little too late; the wieght of debt too great; like the Japanese are finding. Attempts to balance the books are futile. Money printing = largely futile, unless they actually put it in to work programs/ real world projects rather than financial instruments, but then likely get run away inflation, which is why the west has not done something like this yet, personally I wish they would, at least then we'd be getting something built and useful for the money; rather than just lining bankers and the elites pockets as it is currently.

[Naam]

He said the ECB would start purchasing asset-backed securities and covered bonds in October.

that is QE!

[MJP]

Here it is; QE/ money creation.

""

Draghi just announced that the ECB will begin a quantitative easing program in October, comprised of asset-backed securities and Euro-denominated covered bonds.

""

- biz insider app.

Draghi gave me a beautiful additional present. i am short EURUSD since january.

note: one man's irrational laugh is another man's cash in the pocket.

go Draghi go!

The sage of Pattaya speaks!

[midas]

new economic term of the day - ‘Shrinkflation’

( the concept where companies reduce the weight or size of an item without increasing its price )

Edited September 5, 2014 by midas