Olduvai Posted July 20, 2009 Report Share Posted July 20, 2009 You know the cliche, it's not over until the fat lady sings. I too would have answered dollar index at 40 and Gold north of $2000, but these things take time, how long? I don't know All I can see is that the financial system has been set up in such a way that it is catastrophically fragile, sometime within the next 5 years, things at the start of a particular week will appear to be normal and by the end of it the world would have changed (i.e. world economic situation). There is only so much fecal matter that can be stored behind a fence on a steep mountain side before it all comes tumbling down making a mess of everything below it. In reference to my Faber thing above, I really have to say that if in 2006, you were to have told the Weirmarians that the Fed would expand its balance sheet by $XX trillion dollars, and that it would begin direct purchase of Treasurys, and that the deficit would balloon to $1.5 trillion (or whatever it is now) and all the rest of the past 18 months, and then asked: "Under this scenario, where do you think the dollar index will trade, gold will trade, and U.S. 10-year interest rates will be?" They'd have had a cow, and said, something like, "Dollar index at 40, Gold north of $2,000/oz, and double digit 10-year rates." Which would have been reasonable, arguably, ceteris paribus. Except, this ain't ceteris paribus... which I think is creating blindspots for Faber. Link to comment Share on other sites More sharing options...
MrHanky Posted July 20, 2009 Report Share Posted July 20, 2009 Been trying not to to watch the markets too much,except for the limit orders on one closed-end fund have been trading.In the last 2 weeks I have flipped the same fund six times for a 30 to 60 cent profit each time (still trading at the same levels as 2 weeks ago).Sometimes the low floaters can work in your favor.... Still not going to touch equities for quite a while,the fund I have been trading is a muni fund and at least I will get the divvies if I screw up. Just ordered the new I-Phone today so I can get live streaming quotes on the run,On these low floaters I can't blink for even a second. Link to comment Share on other sites More sharing options...
shorty Posted July 21, 2009 Report Share Posted July 21, 2009 Bring it on union boyz. My anti-strike megaphone is ready for you. demand six-month furloughs twice per year! and pension clawbacks! and make 'em serve their furloughs in aSS-poundin' prison! and write letters of apology to their neighbors fer suckin' off the gov't tit all those years! chop 'em all! WE'RE GONNA CHOP AROUND THE CLOCK TONIGHT!!!!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
The End Posted July 21, 2009 Report Share Posted July 21, 2009 Just a few days,at least that's what they claim. Tanks Link to comment Share on other sites More sharing options...
BusKow Posted July 21, 2009 Report Share Posted July 21, 2009 look a little longer, in the next time frame...looks like the last minor resistance, w/970 a big deal above Link to comment Share on other sites More sharing options...
Jimi Posted July 21, 2009 Report Share Posted July 21, 2009 Breaking: apparent deal struck: Gov. Arnold Schwarzenegger and legislative leaders agreed Monday to balance California's $26 billion deficit by cutting broadly across state government, shifting costs into the future and capturing funds from cities and counties. "We came to a basic agreement, a budget agreement that of course has be ratified by the Legislature," Schwarzenegger told reporters. He said the final hours of negotiations were "like a suspense movie." Despite the accomplishment, Senate President pro tem Darrell Steinberg said that "this a sober time." "There isn't a whole lot of good news in this budget. We have cut, and we have cut in many areas that matter to real people," said Steinberg, D-Sacramento. "But I think we have done so responsibly." More at the link: http://www.sacbee.com/topstories/story/2041768.html Link to comment Share on other sites More sharing options...
shorty Posted July 21, 2009 Report Share Posted July 21, 2009 Breaking: apparent deal struck: More at the link: http://www.sacbee.com/topstories/story/2041768.html I bet they actually cut very little....just more smoke and mirrors, thinly disguised taxjacks and feerapes, more borrowing, and accounting gimmicks. It is simply a matter of time before CA defaults on its debt. Months or years, what difference does it make. They cannot pay, and they will not pay, all their debt. As more businesses and taxpayers flee, the budget gap will only widen more, since the parasites ain't goin' nowhere. Link to comment Share on other sites More sharing options...
shorty Posted July 21, 2009 Report Share Posted July 21, 2009 fer the record I is now 100% shert the fraudexes, since I got aSSigned on me naked callz Fri and bought in all me shert put hedges turday at hefty profits fer peanutz I say let it all go straight ta livin' Link to comment Share on other sites More sharing options...
Bungster Posted July 21, 2009 Report Share Posted July 21, 2009 fer the record I is now 100% shert the fraudexes, since I got aSSigned on me naked callz Fri and bought in all me shert put hedges turday at hefty profits fer peanutz I say let it all go straight ta livin' I'm still holding a portion of my shorts....hoping to get out with a portion of my arse....I'm with you shorty! Link to comment Share on other sites More sharing options...
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