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  1. #876
    I don't know barbaro's Avatar
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    ^ is that a question?

    I enjoyed that post you made Larv.

    Anway, here's a link to the big round of economic reports that will come out this week.

    This week (later Jan 09) I expect more "gloom and doom" and fear.

    Many, many, reports coming out this week:

    Week ahead for Wall Street: Earnings, GDP and the Fed - Jan. 25, 2009

  2. #877
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    Quote Originally Posted by Milkman View Post
    ^ is that a question?

    I enjoyed that post you made Larv.

    Anway, here's a link to the big round of economic reports that will come out this week.

    This week (later Jan 09) I expect more "gloom and doom" and fear.

    Many, many, reports coming out this week:

    Week ahead for Wall Street: Earnings, GDP and the Fed - Jan. 25, 2009
    Yes it was, I am not that much into these things and was wondering what will happen with other currency's if the Dollar devaluate, the Pound and Euro ?, The Us would be more competitive on Exports, but would the Euro rise sharply and thus harm their competitiveness on European exports?

  3. #878
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    ^^ And thanks for the link

  4. #879
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    Quote Originally Posted by larvidchr View Post
    I am not that much into these things and was wondering what will happen with other currency's if the Dollar devaluate, the Pound and Euro ?, The Us would be more competitive on Exports, but would the Euro rise sharply and thus harm their competitiveness on European exports?
    Currency is largely speculative.

    As for the $USD, many think it will decline. Many think it must decline in value.

    It's a wait and see approach.

    The other currencies, I cannot speculate about, but I do follow it.

  5. #880
    Thailand Expat Boon Mee's Avatar
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    Say no today and win in 2010:

    Fifty-nine percent (59%) of U.S. voters worry that Congress and President Obama will increase government spending too much in the next year or two, according to a new Rasmussen Reports national telephone survey.
    Only 17% have the opposite concern and are more worried that Congress and the president will cut taxes too much.

    Makes sense to me - fok this stimulus piece of crap!

    Rasmussen Reports™: The Most Comprehensive Public Opinion Site.
    A Deplorable Bitter Clinger

  6. #881
    I don't know barbaro's Avatar
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    Look at the blue line on the right:




  7. #882
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    ^ You could use that very same chart for every country in the world right now for everything from, factory orders, exports, house sales, employment etc etc

  8. #883
    Thailand Expat Boon Mee's Avatar
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    Heh...if yáll are wondering where this so-called 'stimulus' thing is going, and where it will lead in the long run, check out this story from The Times of London:
    PARTS of the United Kingdom have become so heavily dependent on government spending that the private sector is generating less than a third of the regional economy, a new analysis has found.
    The study of “Soviet Britain” has found the government’s share of output and expenditure has now surged to more than 60% in some areas of England and over 70% elsewhere."

    The article goes on to say - "The state now looms far larger in many parts of Britain than it did in former Soviet satellite states such as Hungary and Slovakia as they emerged from communism in the 1990s, when state spending accounted for about 60% of their economies."

    Can you say Socialism or what?

  9. #884
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    I just came across this on a guys blog I read.......


    "You fucking people, getting all happy, with the jazz hands waving in the sky, over a pending U.S. collapse make me sick. The internet is a funny place, where all sorts of strange men share the intellectual equivalent of spoiled mashed potatoes and old duck pate.

    I throw my shrimp tails in your general direction, while guzzling a glass of single malt Scotch.

    Most of you are simply besides yourselves, over some sort of near term economic apocalypse— that is supposed to force fuckers like me into the open fields, farming for beans and shit. I got news for you Alfred Hitchcock, double chinned motherfuckers, I ain’t farming no beans. More importantly, hey guess what, I’m gonna live my bourgeois life in the most egregious fashion, during this decline. After all, economic duress means good times for “big men.”

    Here’s the thing: before I take my family to the mountains to escape the “poor” and famished “regular folk,” I will employ a small army, a militia of sorts, of unemployed malcontents to secure the food provisions at my local Costco, then proceed to the mountains to take your guns and rice.

    More importantly, many of you third rate bloggers, and youtube box heads, think Asia will, all of a sudden—by the grace of God—live happily ever after, all the while America burns to the ground, amidst civil unrest and eventual revolution. Ha!

    Wrong again, friend.

    Before that happens, our big mighty tanks and motherfucking cluster bomb carrying bombers of elysium, will secure the coal/copper mines of China and the national treasuries of any middle eastern country of choice.

    A 14 trillion dollar economy is not something to piss off, especially when it employs goons with big guns and technology that can eliminate your cities population, without damaging any valuable infrastructure.

    What I am saying is: you need to chill the fuck out with your “America is gonna fall” rhetoric. Things may be fucked up and times are likely going to get worse. However, if we go down, so do you.

    Therefore, keep buying our fucking treasury bills"



    This guy is a riot, you can catch more of him here
    Originally Posted by Smeg
    ... I like to fantasise sometimes, and I lie very occasionally... my superior home, job, wealth, freedom, car, girl, retirement age, appearance, satisfaction with birth country etc etc... Over the past few years I have put together over 100 pages on notes on thaiophilia...

  10. #885
    Thailand Expat Boon Mee's Avatar
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    Good article here - the Generational Theft Bill as it is now called...

    The Pork Package: The Audacity of Moonbat Greed

    "There's $1 billion for Amtrak, the federal railroad that hasn't turned a profit in 40 years; $2 billion for child-care subsidies; $50 million for that great engine of job creation, the National Endowment for the Arts; $400 million for global-warming research and another $2.4 billion for carbon-capture demonstration projects. There's even $650 million on top of the billions already doled out to pay for digital TV conversion coupons."

    Just incredibly fucking unreal how the Democrats are raping America...

    Read it all here

  11. #886
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    Mate, its only money. And USA can print as much of the stuff as they like. So long as places like China and Japan keep sending cars and TV sets in exchange for the paper stuff, all is well.

  12. #887
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    Quote Originally Posted by Panda View Post
    Mate, its only money. And USA can print as much of the stuff as they like. So long as places like China and Japan keep sending cars and TV sets in exchange for the paper stuff, all is well.
    Well, that would be nice but discresionary spending for items like TV's and vehicles (note all the car lots not selling these days?) won't be purchased when there isn't any money to pay for them...

  13. #888
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    The USA has been creating money out of worthless paper for decades and the rest of the world thought it was worth something. When everyone figures out that USAs IOUs are going to be paid out in worthless paper instead of real goods the poo will really hit the fan. Its been the greatest swindle of all time.
    No wonder the US government wants to just keep printing the stuff and swapping it for real goods if the rest of the world is silly enough to keep going along with it.
    The party has got to end sometime though.

  14. #889
    I don't know barbaro's Avatar
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    The people in this segment have had some bad luck:

    1. delayed disability benefits

    But they also did something very stupid:

    1. They bought a house before he was hired for a potential new job.


    Bad luck + mostly stupidity.


    As the end his wife tells credit card bill collector that her husbang "protect the freedom" of the bill collector.

    What a crock:


  15. #890
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    30% interest, -- a big jump from 7% on credit card debt?
    Sounds like desperation on the part of the card company.
    The final death throws, -- killing the golden goose.

  16. #891
    Thailand Expat raycarey's Avatar
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    bernanke and the fed need to stop trying to prop up this deeply damaged market.....they should just let it find its bottom, and then let's move on from there.

  17. #892
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    ^^ Yes, the CC companies have many policies that are legal to do things like this.

    ^ Yes, I think BO, Fed, entire gov is throwing too much money into this. It's not helicopter money anymore, it's "money bombs."

  18. #893
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    Seems like most people posting here see the world going down into the maelstrom

  19. #894
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    Quote Originally Posted by Panda
    Sounds like desperation on the part of the card company.
    Some of my American pals in the trading chat rooms i hang out in are reporting that they have had phone calls from companies whose cards they own asking for the balance to be repaid in full within 60 days. Many report the minumum monthly payment has rocketed along with interest rates.

  20. #895
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    Quote Originally Posted by Spin View Post
    Quote Originally Posted by Panda
    Sounds like desperation on the part of the card company.
    Some of my American pals in the trading chat rooms i hang out in are reporting that they have had phone calls from companies whose cards they own asking for the balance to be repaid in full within 60 days. Many report the minumum monthly payment has rocketed along with interest rates.
    I have read that the credit card companies are in trouble and declining.

    I've also read it's possible for some to shut up shop, or greatly reduced the number of people they'll qualify to have a CC card.

  21. #896
    Thailand Expat raycarey's Avatar
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    Quote Originally Posted by Rattanaburi View Post
    Seems like most people posting here see the world going down into the maelstrom
    normally that would indicate it's time to put a toe in, but i'll wait for a retest of the november lows.

  22. #897
    Thailand Expat raycarey's Avatar
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    Quote Originally Posted by Milkman View Post
    I've also read it's possible for some to shut up shop, or greatly reduced the number of people they'll qualify to have a CC card.
    my understanding is that besides AMEX, it's not the card companies (VISA/MC) that are in trouble, but the banks that issue the cards and are responsible for the debt.

  23. #898
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    Quote Originally Posted by raycarey View Post
    Quote Originally Posted by Milkman View Post
    I've also read it's possible for some to shut up shop, or greatly reduced the number of people they'll qualify to have a CC card.
    my understanding is that besides AMEX, it's not the card companies (VISA/MC) that are in trouble, but the banks that issue the cards and are responsible for the debt.
    Thanks for the clarification, Ray. So, I assume this means that if the banks responsible for the debt (making it avalaible via CCs) are in trouble, and not lending this will trickle directly to Visa & MC.

  24. #899
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    Quote Originally Posted by raycarey View Post
    my understanding is that besides AMEX, it's not the card companies (VISA/MC) that are in trouble, but the banks that issue the cards and are responsible for the debt.
    That is correct, really AMEX, VISA, and MC will be fine. AMEX because they have been far more selective in who they issue cards to, and because they have much stricter payment requirements. VISA and MC because they have no real risk exposure - they pass that risk on to the banks that issue the actual cards.

    Said banks are doing all kinds of things to try and reel in the bad debt - and many seem to feel that a credit card collapse is the next pending economic woe for the US to confront. In much the same way the banks were giving out home lones to anyone with a pulse, they were also handing out credit cards to them as well.

    I applied for and was granted my first CC my first year of college - hardly any money in the bank and no job - but they gave me a credit card with a $5k limit. It was a "hook them when the're young" ploy by the banks to get cards into the hands of young consumers so they would grow up thinking it was normal to be in debt.

    With a few exceptions when I made the mistake of getting a joint card with a girlfriend (big farkn' mistake that was) I have always paid off my balance at the end of the month. For me CC's are simply an alternative form of cash, and if I don't have the money in the bank then I don't buy it. If I need/want something that I don't have the cash for I go get a loan - interest on CC's is too high.

    Back to the issueing banks - they are doing all kinds of things to try and reduce their risk and reel in all the easy credit they have been giving out for decades. Upping the minimum payments, increasing the penalty for late payments, jumping the interest rates to extreamly high rates if payments are missed, reducing limits, and even cancelling cards. Many of them are simply hoping they can reduce their exposure enough to minimize the pain when the credit card crunch finally hits.

    Just anther house of cards in the US right now.
    "Religion is an insult to human dignity. With or without it, you'd have good people doing good things and evil people doing evil things. But for good people to do evil things, it takes religion" - Steven Weinberg

  25. #900
    Thailand Expat raycarey's Avatar
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    i think you misunderstood my post bugs.....my understanding is that AMEX is in trouble...potentially big trouble. they don't pass the risk onto banks, they take it on themselves. yes, they are more selective in who they issue a card too, but even the slightly upper middle class are getting caught up in this mess. i'll look for a link regarding the kind of problems AMEX could be facing. here it is....Bloomberg.com: U.S.
    Last edited by raycarey; 30-01-2009 at 06:37 PM. Reason: adding bloomberg link

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