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IDS World Markets Fri 11th July 08


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Tanks, Chicken On The Car And The Car Won't Go Bear! I know that you are one who reads the report closely because you always point out my mistakes. :lol:

 

I need a proofreader, that's for sure. :D

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Wow. I just knew I was going to miss something. I fully intended to sleep late today and have breakfast in bed, but here I am at 7:30am with my nose glued to the screen. Interesting day. The question I have to resolve is do I close out my remaining shorts today or do I leave them open for the next 2 weeks with no computer access?

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New Zealand House Sales Fall 42% on Year, Prices Drop

 

July 11 (Bloomberg) -- Sales of New Zealand houses slumped for a fourth straight month in June as record-high interest rates curtailed demand for property.

 

The number of homes sold dropped 42.4 percent to 4,305 from 7,474 a year earlier, according to a report from the Real Estate Institute of New Zealand Inc. e-mailed to Bloomberg News today. Sales were at the lowest level since December 1991.

672580[/snapback]

Is that a lot?

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India's Inflation Accelerates to Fastest in 13 Years

 

July 11 (Bloomberg) -- India's inflation accelerated to the fastest pace since 1995, raising concern the central bank will increase borrowing costs for a third time this year.

 

Wholesale prices rose 11.89 percent in the week to June 28, after gaining 11.63 percent in the previous week, commerce ministry spokesman Rajeev Jain told Bloomberg News in an interview today.

672581[/snapback]

Is that a lot?

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You devout patternists looking for similies and rhymes from the past ...

 

Is there a precedent for the gubermint needing to bring $5T debt onto its books overnight? Especially when the "assets" behind the debt fall at least 30% short of this figure.

 

That's why the Perfect Storm and 10 Sigma b.s. is being thrown around again.

 

To me, its simple. If the Govt doesn't bail these guys out, then the mark-to-market on all RE debt becomes essentially 0%. There will be no buyer of Last Resort for bad (or good) debt, in the short term.

 

Everything thereafter related to claims: assets vs. debts, derivatives, various leveraged insurance concoctions, etc, frenetically accelerates at a logarithmic, then totally out of control, pace.

 

The Nuclear Option.

 

I like the futes being down 16 :) but I don't think us citizens of the world have much of a choice here.

 

A few firing squads would be apropos, however.

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Japan Consumer Sentiment Fell to Record Low in June

 

July 11 (Bloomberg) -- Japanese consumers became the most pessimistic they've been in at least 26 years as higher gasoline prices and food costs eroded their spending power.

 

The sentiment index dropped to 32.6 last month from 33.9 in May, the Cabinet Office said today in Tokyo, the lowest since the government began compiling the figures in 1982.

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Is that a lot?

 

:lol: :lol: :lol:

 

Phrase of the day.

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