Financial Crisis

[Chaimai]

Thank you Naam for post number 2124, you must have felt good after that.

Don't know about about Naam, but it made me feel good.

I pop in from time to time just to check to see if your moronic postings have become even more fanciful. They haven't, but they are not showing any signs of reality either. I guess that another few months should see you run completely out of steam - unless, of course, Mas Max arrives in New York, London, Paris or Rome during the summer of riots that you so wildly predicted.

[midas]

i neither feel good nor do i feel bad after one of my postings Alex. but i feel sorry for people who think, that from the perspective of their tiny world or circumstances, they can judge everything and everybody and issue a "guilty as charged" sentenced without presenting any shroud of evidence or having some insight. these people are in my (not so) humble view nothing but arrogant ignorants.

my view applies especially to those who make multivalent predictions which can be used later even for minor happenings to justify ridiculous statements "on x-date i predicted that something will happen on y-date. and you see? on y-date the Dow fell by x-points." you might be able to impress a fourthgrader with your prophecies and number mumbo jumbo but not a person with an IQ above those 80 points below which the diagnosis "retarded" is issued.

Oh my god !! Talk about the pot calling the kettle......................................

This is you 100 % ................have you read your own postings..............UNREAL.................

[AlexLah]

I can highly recomend the following book Getting off track by J. Taylor. It explains in very detail what caused this "Crisis"

Again stating that this Crisis" was caused by the people that bought houses they could not afford is just a small part of the answer and to me shows that someone is either ignorant or not well informed.when making such comments.

Again I am asking who was hyping things up first? And do you have any idea where all those Billions and billions of Dollars went.

If you want to rant go and visit Celente's site, he foresees even worse things to come in the coming years. Will he be right? Who knows, it will be a matter of some time. He predicts within 2-3 years things will look very bad.

I am looking forward on what you and other people think will happen in the coming 1-2 years. After all this is a discussion board so feel free to share your superior knowledge, specially Herr Naam.

[midas]

If you want to rant go and visit Celente's site, he foresees even worse things to come in the coming years. Will he be right? Who knows, it will be a matter of some time. He predicts within 2-3 years things will look very bad.

I am looking forward on what you and other people think will happen in the coming 1-2 years. After all this is a discussion board so feel free to share your superior knowledge, specially Herr Naam.

Yes indeed Alex......its fascinating how Corporations have continued to pay Gerald Celente big bucks to keep coming up with these predictions

since 1992 and yet loonies in this thread sit and so easily dismiss these trends. At least wouldn't it be nice jut hear something from the skeptics as to why he could be wrong- at least it would generate a stimulating debate...............but no its like flogging a dead horse. Herr Naam will say that what he is predicting is only a " wet dream "

Edited May 27, 2009 by midas

[AlexLah]

I found Jcon's and GirlX post interesting as they are now living in the US and can give us some first hand experience of the situation and their views (from floor 63), very well appreciated!

I really hope that there will be a recovery and that this whole drama will soon be over and hopefully people have learned from it. But there are a lot of questions remaining with one of the important ones is where did the money go.

[Naam]

1. I can highly recomend the following book Getting off track by J. Taylor. It explains in very detail what caused this "Crisis"

Again stating that this Crisis" was caused by the people that bought houses they could not afford is just a small part of the answer and to me shows that someone is either ignorant or not well informed.when making such comments.

2. Again I am asking who was hyping things up first? And do you have any idea where all those Billions and billions of Dollars went.

3. If you want to rant go and visit Celente's site, he foresees even worse things to come in the coming years. Will he be right? Who knows, it will be a matter of some time. He predicts within 2-3 years things will look very bad.

4. I am looking forward on what you and other people think will happen in the coming 1-2 years. After all this is a discussion board so feel free to share your superior knowledge, specially Herr Naam.

1. i don't care who stated that the crisis was caused by people who bought houses they could not afford and that's why i am not interested to waste my time reading books which explain why. what i know is that the repackaged mortgages and subsequent derivatives of all kinds were the ignitor which triggered the "crisis" bomb and revealed how our esteemed bankers lined their pockets on the back of share- and bondholders respectively creditors in general. i accept this as a fact and try to make the best out of it. fact is that the "crisis" has provided me with opportunities to make money beyond my wildest dreams and that in matter of weeks. that is why i presently look smiling and benevolent at the "crisis" although, being a rather prudent investor, i hesitated too long to make my hits and runs as my profits could have been not only double or triple but quadruple.

2. i don't know and i don't really care where those billions went. what i know for sure is that those billions came neither out of your nor out of my pocket and i see no connection between the billions and the prophesied food riots over a bowl of rice in Nakhon Nowhere or a slice of bread in Stratford-on-Avon.

3. i don't care whether some obscure Celente predicts that "things will look very bad". what i care about is how things will look for my wife, my dog and for me in future and how i can avoid that things will look bad for the three of us

4. i don't possess any superior knowledge (as opposed to "the one that knows...") or King Μίδας of Pattaya (who turns anything he touches into gold, claims to hold a PPL but doesn't know what an autopilot is) and i do not make precise forecasts or prophecies. moreover, i don't believe in anybody who earns his living making forecasts. somebody who has the capability being correct in his/her forecasts will keep them as a secret and use them to make money instead of selling subscriptions publishing my limited knowledge and the measures how i try to counteract/prevent any negative fallouts for me and those for whom i am responsible would be futile as not everybody has the capability to copy/follow them.

[AlexLah]

Good for you you are making good money, I hope you spend it generously and give some more to the poor people, I know you are supporting some children so I hope you can afford some more now you say you are making some good extra cash.

I do not live in the US neither planning so I could choose not to care what good or bad is going to happen there or in any other place except the place where I live. Just follow whatever news comes out and trying to make some guesses as to where this is going. You know as well as I do, that having some fun with either an Avator or some signature whatever adds just a bit of personal difference to an anonymous internet person. The people I have met during TV pissup meetings know me so they know my style of posting and me as a person, I am totally harmless.

I find it a bit strange why you think that people that can foresee things like for example Celente should keep it a secret and make money from their knowledge, is that all you can think off? Making money and think only about yourself and loved ones. Luckily there are people that think different and try to help others as good as they can. I am just curious if he will be right again.

Oh and please could you tell or give an estimated guess of that GDP thingy in the 15 Trillion Dollar Fred, very annoying you say it is lower but then fail to mention a number.

Edit: Link to some story about economic history http://www.cmre.org/hoye2009.htm

Edited May 27, 2009 by AlexLah

[12DrinkMore]

Here's an article about the transfer of economic power from the West to the East.

http://www.independent.co.uk/opinion/comme...gh-1691110.html

On the whole I agree with what he says, but really

governments in the developed world do have a collective credibility. They have, with the odd exception, been good team players

Yeah, sure. How many wars/battles have we had over the selfish national interests of western countries? Team players when it suits and "bugger the neighbour" when it doesn't. Arrogant BS suggesting that the rapidly developing economies should have some pity on the profligate western bunch.

[flying]

I will say the building of any single family residences is pretty darn dead here.

Also I will say that I am quite surprised by the number of foreclosures.

The newspapers are just packed here with pages of them on some days. I knew it was bad but did not expect so many here.

Anyway............

Also saw this .....

http://seattletimes.nwsource.com/html/nati...154_econ25.html

Also this......... You know for folks with cash & no fear of future income changes...They could do very well right now & even better in the next year as prices continue to crater

http://hotpads.com/search/foreclosure#lat=...urePerHousehold

Edited May 27, 2009 by flying

[jcon]

Jeez don't make me get sucked into ThaiVisa again, I was just getting off it

I was making an observation, based on what I see with my own eyes (I tend to like to see things with my own eyes before even coming close to any conclusions - something akin to the 'scientific method' we all learned in, what, elementary school?) That is what pisses me off about parts of this thread and some comments made in it. I have actually SPOKEN TO PEOPLE AND SEEN THINGS that are not on YouTube (that's not directed (directly) to you Plarex, but just a general comment I think could resonate with some people here).

girlx, ok fair comments. I am not ignorant to the fact that some parts of the country are hurting and i do feel for certain circumstances of certain people. I am not without compassion (midas you flat-out judged me, but then again I guess you don't know me and girlx does). I could say I did my Master's Thesis on a subject related to the application of Economic Sociology to Public Health and how it affects minority populations through the concept of 'embeddedness' (a la Granovetter). But would I in turn be accused of writing from my ivory tower about poor people and their health? I can only answer to that why oh why would I choose to write a dam_n thesis on poverty/health if I didn't have some interest (read care) about it. I do, but without such information (and maybe even with it, still) I'm just a 'city slicker' without a heart, right?

midas, there were a lot of 'you's in your reply to my post. I don't know if you meant 'you' as in 'you Americans' or 'you' as in jcon, but I hope it was 'you Americans' (still, it doesn't make it any better to throw around accusations). That condo is the last remaining remnant of my time at "The Casino," and I worked my ass off down there and I'm dam_n proud of it to this day, cash paid. That is not to say that some people don't need a little help here and there, but I've said for years to my friends and anybody I can get to listen to me, "if you can't buy it in cash, don't buy it." (Ok fine 1 flat in Hong Kong I paid 30% down deposit for a mortgage, but 30% down in Central Hong Kong isn't a freakin' 'NINJA' mortgage)

Plarex, I'm not rich. I'm not 'elite.' Those words are only reserved for members of this forum who have bagged a non-bar-girl wife and so then are hi-so by default. Thai logic rubbing off on expats. Embeddedness, again... see, school actually taught me something - I'm happy for my edumacation.

girlx, we spoke earlier of how the environment around UC Boulder wasn't the same, and I said it was quite the opposite at my alma mater (I'm there now, seeing with my own eyes again). That is to be expected, as Boulder, while beautiful, doesn't draw the kind of endowment numbers from it's University as some of the bigger University towns. Here, I think we rank in the top 10 endowments, and most of the money comes from the HUGE number of post-grad programs and their graduates. So I would expect a bit of a difference.

Which brings me to the poster above me who posted some foreclosure links. Well here is a link to JUST ONE of the management companies that own houses on this campus (I have the link because I used to rent from them):

http://www.noplacelikejones.com/

This is just student housing btw, not housing for executives. Each house grosses around 100,000 USD per year in rent (to beer-drinking undergrads). I lived in the big house that generates 17K PER MONTH in rent (200,000+ USD PER YEAR). These places are NEVER EMPTY, EVER. EVER! So again, we're back to square one - real estate 101: location. There are good investments and there are bad ones. Taking out an interest-only mortgage on a 100,000 USD house in some crap area of LA/Vegas/Detroit was/is probably a bad idea - especially when the 'owners' were making minimum wage and buying 'the house of their dreams' on credit (along with the 'car of their dreams' the 'plasma tv of their dreams' the 'blah blah blah of their dreams').

Now Plarex you may think that there was (and who knows, there very well could be - "the truth is out there..." ooooo) a greater conspiracy going on, but the fact of the matter is that this was occurring all over America.... and since I base my reality on facts and generally follow Ockham's razor, I will not posit any plurality unnecessarily... aka, and I love to use this one: If you are fat, it's because you eat too much (not because you have a 'genetic disorder,' or heaven forbid there is some conspiracy going on to make you eat that bag of Doritos - no you just have no control - sound similar to this 'crisis?')

recap:

a) I'm not rich.

I understand the world around me based on... now get ready... THE WORLD AROUND ME.... (somebody please 'deprogram' me or else I will be one of the minions of the Bilderblagerburgers)

c) Things aren't as bad as they sound like on the internet or on TV (which I don't watch anymore for this exact reason).

d) I don't have the answers.

[girlx]

fair enough

[Chaimai]

c) Things aren't as bad as they sound like on the internet or on TV (which I don't watch anymore for this exact reason).

d) I don't have the answers.

The "answer", my friend, is something you have already provided in c) above.

By the way:-

From this mornings Telegraph "Steve Barrow, currency strategist at Standard Bank, predicts the pound will rise above $1.80 over the coming year."

Edited May 27, 2009 by Chaimai

[midas]

c) Things aren't as bad as they sound like on the internet or on TV (which I don't watch anymore for this exact reason).

d) I don't have the answers.

The "answer", my friend, is something you have already provided in c) above.

By the way:-

From this mornings Telegraph "Steve Barrow, currency strategist at Standard Bank, predicts the pound will rise above $1.80 over the coming year."

Jeeez Chaimai........... it's hard to follow your line of thinking............

If you don't think things are as bad on the Internet or TV why are they any better in the Daily Telegraph?

And incidentally you seem to love quoting things from Yahoo news Web pages

And when I quoted an article to you from the UK Guardian which may be slightly lower in standard

than the Telegraph -but not that different -you tell me to go and read the Beano or Dandy.

Chaimai can we please have some consistency from you

Edited May 28, 2009 by midas

[AlexLah]

Thanks Jcon, hope things will keep going well with you and also GirlX.

In this and some other threads so now and then there is a bit of rambling and fighting as always words on a screen can be interpeted differently depending perhaps on the mood someone is in. As I and others said and have seen before the governments and media are not really telling what is going on and some stories keep changing all the time. Do I have to believe the latest CNN prediction that the recession will be over by Q4 this year? I hope so but I would not bet on it. Your personal observation that things are not as bad as they are reported is the same here in Thailand, I don't see empty shelves or any of that, live goes on as usual and the only thing that I see is that there are less new cars being sold and dealershops are looking less crowded (there are 8 different here on my road).

And when talking with some of the "Service" girls they complaint about the lack of tourist and income and the need to lower their service fees.

So we just do our best and enjoy life (I am going for a swim in the 100m pool they have here) and wait and see what shock will be brought to us in the coming months and years. Oh what was the latest, NK testing some rockets and a big bomb, so what. Or do we have to be scared about the swine flu just like sars and the bird flu. Or those dam_n ragheads that are fighting for their freedom or was it against our freedom?

Anyway I will keep posting and add some pictures at times as I think it brings some fun (for me at least).

Have a great day, all of you!

[midas]

Jeez don't make me get sucked into ThaiVisa again, I was just getting off it

midas, there were a lot of 'you's in your reply to my post. I don't know if you meant 'you' as in 'you Americans' or 'you' as in jcon, but I hope it was 'you Americans' (still, it doesn't make it any better to throw around accusations). That condo is the last remaining remnant of my time at "The Casino," and I worked my ass off down there and I'm dam_n proud of it to this day, cash paid. That is not to say that some people don't need a little help here and there, but I've said for years to my friends and anybody I can get to listen to me, "if you can't buy it in cash, don't buy it." (Ok fine 1 flat in Hong Kong I paid 30% down deposit for a mortgage, but 30% down in Central Hong Kong isn't a freakin' 'NINJA' mortgage)

Plarex, I'm not rich. I'm not 'elite.' Those words are only reserved for members of this forum who have bagged a non-bar-girl wife and so then are hi-so by default. Thai logic rubbing off on expats. Embeddedness, again... see, school actually taught me something - I'm happy for my edumacation.

girlx, we spoke earlier of how the environment around UC Boulder wasn't the same, and I said it was quite the opposite at my alma mater (I'm there now, seeing with my own eyes again). That is to be expected, as Boulder, while beautiful, doesn't draw the kind of endowment numbers from it's University as some of the bigger University towns. Here, I think we rank in the top 10 endowments, and most of the money comes from the HUGE number of post-grad programs and their graduates. So I would expect a bit of a difference.

Which brings me to the poster above me who posted some foreclosure links. Well here is a link to JUST ONE of the management companies that own houses on this campus (I have the link because I used to rent from them):

http://www.noplacelikejones.com/

This is just student housing btw, not housing for executives. Each house grosses around 100,000 USD per year in rent (to beer-drinking undergrads). I lived in the big house that generates 17K PER MONTH in rent (200,000+ USD PER YEAR). These places are NEVER EMPTY, EVER. EVER! So again, we're back to square one - real estate 101: location. There are good investments and there are bad ones. Taking out an interest-only mortgage on a 100,000 USD house in some crap area of LA/Vegas/Detroit was/is probably a bad idea - especially when the 'owners' were making minimum wage and buying 'the house of their dreams' on credit (along with the 'car of their dreams' the 'plasma tv of their dreams' the 'blah blah blah of their dreams').

Now Plarex you may think that there was (and who knows, there very well could be - "the truth is out there..." ooooo) a greater conspiracy going on, but the fact of the matter is that this was occurring all over America.... and since I base my reality on facts and generally follow Ockham's razor, I will not posit any plurality unnecessarily... aka, and I love to use this one: If you are fat, it's because you eat too much (not because you have a 'genetic disorder,' or heaven forbid there is some conspiracy going on to make you eat that bag of Doritos - no you just have no control - sound similar to this 'crisis?')

recap:

a) I'm not rich.

I understand the world around me based on... now get ready... THE WORLD AROUND ME.... (somebody please 'deprogram' me or else I will be one of the minions of the Bilderblagerburgers)

c) Things aren't as bad as they sound like on the internet or on TV (which I don't watch anymore for this exact reason).

d) I don't have the answers.

I have no doubt that you are speaking to people and seeing things physically instead of only in the media. You are telling us that things are not

bad all over America and I said in my previous post I already know that. You ( i.e. jcon ) sound somewhat paranoid for someone who is supposed to be enjoying the good life.

As for judging you ................ you said :-

" I took this photo yesterday, I must say life is good on the 63rd floor - I bet the doom merchants are walking around down there on 'the streets' somewhere, but I sure as hel_l can't see 'em from this far up and I frankly could care less. But I guess that's why I'm up here and they are down there."

Besides that, my response to you was not meant to be a personal attack on jcon. It was meant to be a reminder that any of us can too easily forget how important others are to allow us to keep enjoying our good lifestyles - instead of some on this board who live in metaphorical Ivory Towers.

I also noticed while you seemed overly concerned as to whether " you " in my post referred to Americans generally or you - it was 50/50.

As this is meant to be a discussion thread about the " financial crisis " and to share information to try to find reasons why things don't seem to be getting better except in your immediate surroundings I think everything is up for consideration - and as Alex correctly said _ ANYTHING but the crap they feed us in the MSM.

As your only response to the question I posed to you. i.e. America has lived for too long above its means and how is it going to get out of this mess was

d) I don't have the answers - then presumably its ok for us to keep posting here to try search for those answers

Edited May 28, 2009 by midas

[Rathai]

d) I don't have the answers - then presumably its ok for us to keep posting here to try search for those answers

Bravo!

[midas]

I will say the building of any single family residences is pretty darn dead here.

Also I will say that I am quite surprised by the number of foreclosures.

The newspapers are just packed here with pages of them on some days. I knew it was bad but did not expect so many here.

Anyway............

Also saw this .....

http://seattletimes.nwsource.com/html/nati...154_econ25.html

Also this......... You know for folks with cash & no fear of future income changes...They could do very well right now & even better in the next year as prices continue to crater

http://hotpads.com/search/foreclosure#lat=...urePerHousehold

Hey thanks Flying

And did you also happen to read any of the 88 interesting comments of readers at the bottom of that article

from The Seattle Times ?

It's refreshing to read comments from people simply exchanging views about this subject in a dignified

manner without one poster ridiculing another poster for spreading doom and gloom

or that the sky is falling in

Its just Americans trying to analyse what the hel_l is going on. a pity a few more on this thread

couldn't contribute this way

[flying]

Hey thanks Flying

And did you also happen to read any of the 88 interesting comments of readers at the bottom of that article

from The Seattle Times ?

It's refreshing to read comments from people simply exchanging views about this subject in a dignified

manner without one poster ridiculing another poster for spreading doom and gloom

or that the sky is falling in

Its just Americans trying to analyse what the hel_l is going on. a pity a few more on this thread

couldn't contribute this way

Well like I said I am actually quite surprised by the number of forclosures here.

I thought the article was interesting because some of what I am seeing is the same as what they described in that article...

Meaning the folks I see losing or giving up are not folks who should not have had a loan. They had high paying jogs which have folded.

Many did work hard & had families with the usual extras that come with that. Meaning paying for kids college or other education...medical costs etc. So they did not have a lot of money saved.

So when the income stopped it did not take long for them to have a problem.

I am not in my opinion a doom & gloomer. I just see what is happening, & try to prepare and or cut back some. Personally I do not see any*green shoots* here yet. The companies that laid off have not called folks back. Industry here is building & tourism so............. It is not going to spring back as far as I can see yet.

I am self employed & still have work as I have been at it many years. But the work now is mainly repair & restoration/remodeling type work. Its not like anyone needs new homes anymore. Nor will they for years to come. The inventory of new boom homes that never sold & the inventory of forclosed homes will last a long while.

Many of us will probably need to reinvent ourselves. We cannot just sit & await the recovery now can we

[midas]

I just see what is happening, & try to prepare and or cut back some. Personally I do not see any*green shoots* here yet. The companies that laid off have not called folks back. Industry here is building & tourism so............. It is not going to spring back as far as I can see yet.

I am self employed & still have work as I have been at it many years. But the work now is mainly repair & restoration/remodeling type work. Its not like anyone needs new homes anymore. Nor will they for years to come. The inventory of new boom homes that never sold & the inventory of forclosed homes will last a long while.

Many of us will probably need to reinvent ourselves. We cannot just sit & await the recovery now can we

I was recommended to read this book ...................

http://www.amazon.com/Housing-Boom-Bust-Th...65018807#reader

It has a sample of the contents if you click the icon of the book cover.

[AlexLah]

Have called back home and the reports coming in from the home front are not that good.

My brother that has his own company specialised in refurbishing and restoring older houses is having a real problem getting work.

My other brother working as a manger in a big exclusive restaurant chain was offered to downgrade to being a chief cook in order to have a job.

Construction worker friend, lost his job.

Lady friend, executive management secretary lost her job.

Friend, manager of export firm lost his job.

And many many more, I was shocked as it is not reported in the media that many people loose jobs in my home country.

House prices are not going down as much compared to US and UK but there are a lot of job losses as I was told by friends.

Not good!

[Chaimai]

Have called back home and the reports coming in from the home front are not that good.

And many many more, I was shocked as it is not reported in the media that many people loose jobs in my home country.

House prices are not going down as much compared to US and UK but there are a lot of job losses as I was told by friends.

Alex, forgive me but I do not know your home country. However, you must be reading the wrong media.

In the UK it has been widely understood that unemployment will rise above the 3 million mark (the figure reahed in the last recession), maybe get to 3.2 million.

This is no surprise. Unemployment is a natural consequence of the fall-out from the recession as businesses cut overheads to match demand/revenues. It is also a time when out-dated industries take the opportunity to re-group - or close down. The motor industry will see a radical shake up.

There is also no doubt that some sectors were 'over-paid' as markets became too hot (I am excluding banking and politics because everyone will become inflamed again) - construction/building was a classic example where excessive growth resulted in labour costs escalating beyond sensible levels. The consequence is a mirror image of the boom/bust cycle - bricklayers that were last earning £150 per day are now working for £100 because the scarcity of work and competition from their peer group.

The lead/lag effect will ensure that, despite things now starting to level out, further 'bad news' is inevitable. I guess if unemployment in the UK eventually does not reach 3.2 million that will become 'good news'.

[flying]

Well I don't know how many think Marc Faber is accurate but......

I hope he is wrong

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

“I am 100 percent sure that the U.S. will go into hyperinflation,”

Edited May 28, 2009 by flying

[Naam]

Oh and please could you tell or give an estimated guess of that GDP thingy in the 15 Trillion Dollar Fred, very annoying you say it is lower but then fail to mention a number.

i can't make a guess because i don't have a breakdown of the U.S. GDP which would enable me to subtract unproductive services and goods (i mentioned examples) to arrive at the actual value of produced goods. the examples i stated are self-explanatory and the actual value is irrelevant for the topic discussed as there is no doubt that the economic power of the U.S. is "Numero Uno" on this planet. if you want some indepth information on "who or what is GDP?" i suggest you use your surfing capabilities as the internet provides a wealth of knowledge in this respect.

[AlexLah]

I am extremely lazy Naam, just like to know/see the breakdown so I wait for you to give a link.......

Stating something and not give a guesstimated number based on some research backed up by some link is like eating Som without Tam.

Chai Mai, I have this from first hand account, people that live there (Holland).

Edited May 29, 2009 by AlexLah

[Naam]

Stating something and not give a guesstimated number based on some research backed up by some link is like eating Som without Tam.

= as usual topic missed but trying to divert attention with an irrelevant statement. reading impaired although it was clearly pointed out:

quote Naam: "the examples i stated are self-explanatory and the actual value is irrelevant for the topic discussed as there is no doubt that the economic power of the U.S. is "Numero Uno" on this planet."

nota bene the logical conclusion: "if a value is irrelevant in context of its mentioning it neither requires a "guesstimated" number nor is any research necessary as there is nothing to prove or to gain from it."

next!

[Naam]

1. I find it a bit strange why you think that people that can foresee things like for example Celente should keep it a secret and make money from their knowledge,

2. is that all you can think off? Making money and think only about yourself and loved ones.

3. Luckily there are people that think different and try to help others as good as they can.

1. fact: Celente IS making money with his predictions. he is SELLING subscriptions.

2. i have other thoughts too. right now i am thinking what to have for my second breakfast.

3. you must be referring to all those benevolent people in Thaivisa who have nothing else in mind than to help others by worrying about an ATM fee of THB150, the exchange rate of THB vs. <insert appropriate currency>, who gladly pay the fare asked by a taxi or baht bus driver and generously tip the poor chaps, never complain about double pricing because they care a sh*t for money and especially the good-doers who hoarded some gold with the one and only intention to use it at a later stage for feeding the poor and homeless. am i right?

[AlexLah]

1. fact: Celente IS making money with his predictions. he is SELLING subscriptions.

Fact is that he is selling his knowledge and gives interviews that are free to watch where some of the things he (think he)knows shares for free

2. i have other thoughts too. right now i am thinking what to have for my second breakfast.

3. you must be referring to all those benevolent people in Thaivisa who have nothing else in mind than to help others by worrying about an ATM fee of THB150, the exchange rate of THB vs. <insert appropriate currency>, who gladly pay the fare asked by a taxi or baht bus driver and generously tip the poor chaps, never complain about double pricing because they care a sh*t for money and especially the good-doers who hoarded some gold with the one and only intention to use it at a later stage for feeding the poor and homeless. am i right? laugh.gif

My world is a bit bigger Naam and your comment above is just pathetic but I see you placed a smiley.

Reason why I ask about your GDP source is that I would like to know where you get you supposed inferior knowledge from, is it all in your mind?

It is very relevant to know what the estimated broken up numbers are so these can be compared with other nations as to have some idea how capable the US could be to get their economy back on track. I know you will most likely say that you do not give a dog's ass but why then commenting?

You say that there is no doubt that the US is the nummero uno economic power on this planet, where is your proof as many others have their doubts.

Please show your source that undoubtedly proves that the US is the economic power number one on this planet.

[midas]

Alex, forgive me but I do not know your home country. However, you must be reading the wrong media.

In the UK it has been widely understood that unemployment will rise above the 3 million mark (the figure reahed in the last recession), maybe get to 3.2 million.

This is no surprise. Unemployment is a natural consequence of the fall-out from the recession as businesses cut overheads to match demand/revenues. It is also a time when out-dated industries take the opportunity to re-group - or close down. The motor industry will see a radical shake up.

There is also no doubt that some sectors were 'over-paid' as markets became too hot (I am excluding banking and politics because everyone will become inflamed again) - construction/building was a classic example where excessive growth resulted in labour costs escalating beyond sensible levels. The consequence is a mirror image of the boom/bust cycle - bricklayers that were last earning £150 per day are now working for £100 because the scarcity of work and competition from their peer group.

[bT]he lead/lag effect will ensure that, despite things now starting to level out,[/b] further 'bad news' is inevitable. I guess if unemployment in the UK eventually does not reach 3.2 million that will become 'good news'.

But the fundamentals dont look encouraging ?

Homebuyers face higher mortgage rates after gilts sell-off

By David Oakley, Capital Markets Correspondent

Published: May 29 2009 03:00 | Last updated: May 29 2009 03:00

Banks are likely to face increasing pressure to put up fixed mortgage rates after a sell-off in the government bond markets this week.

Analysts warn that the sharp rise in government bond yields, which have an inverse relationship with prices, will lead to higher mortgage rates on the high street.

http://www.ft.com/cms/s/974ac40e-4be8-11de...;nclick_check=1

[midas]

1. fact: Celente IS making money with his predictions. he is SELLING subscriptions.

Fact is that he is selling his knowledge and gives interviews that are free to watch where some of the things he (think he)knows shares for free

Celente makes his money primarily as a consultant to big Corporation's advising them about

future trends. As part of the same research skills he can package that information together

and offer it for sale to the general public -I don't see anything unusual about that.

And how does anyone know how successful or wealthy he is unless they see his bank balance ?

[Chaimai]

Chai Mai, I have this from first hand account, people that live there (Holland).

Thanks - I was not questioning what was said, I just wondered where home was because the information supplied is no surprise in Holland any more than it is in the UK

We are at the point in the cycle where we will get conflicting 'news' - on the one hand a report about UK property prices rising 1.2% and on the other, a report about 1,000 redundancies from XYZ.

"2. is that all you can think off? Making money and think only about yourself and loved ones"

This has to be the start point.

As the air stewardess says "if there is a need to use oxygen masks, ensure that yours is properly fitted first before giving assistance to others"