Thread: US Stocks Plunge, Dow Falls Over 300 Points As Fears Grip Market

Originally Posted by nostromo

Originally Posted by socal

Originally Posted by nostromo

Originally Posted by Warrior

Originally Posted by baby maker

March 24, 2012
I've Never Seen a Confluence of Negative Factors Like This

Since August I've been calling for a collapse in Europe. Obviously I'm way early here, largely due to intervention from the ECB. I also underestimated the extent to which leaders would push to hold things together.

...


Private Wealth Advisory

Graham Summers
Chief Market Strategist

I like this type of predictions

"Obviously I am way early here, .." Why is that obvious?

"... largely due to intervention from... " Yes, if there were no others who could intervene, you would have been right. In fact, we can all be right if there were no others to intervene.
But now, Mr Summers, you are wrong.

So you missed the "Is the European Central Bank Still Solvent?" seminar in London few days ago?

You should be concerned, as you are from the Netherlands. The Nederlandsche Bank, central bank of the country, is de facto funding Eurozone 150 billion euros through target2 system that was not designed for this (other strong countries, Germany 500 billion, Finland 100 billion, Luxembourg 100 billion - and every, read my lips, every other country in eurozone is a leech). In the end should euro project fail in any part the taxpayers in those 4 countries will pay, like you. Does shutting down hospitals in your country sound right? If only Greece exits euro, you will pay quite a lot, they owe ECB 100 bn, your portion of which you will not see coming back to your central bank. Way to go for european dream...

But of course, 100 billions, 100 baht, you get confused. But let me tell you, we are talking about huge amounts of money. 100 million euros is a a lot. 500 million, 1 billion, 10 billion, put into science, education, research and development, we would have a better world. 100 billion, 500 billion, 1000 billion. Why not suggested 3000 billion for euro bailout, "that should keep euro going for 2 or 3 years" as suggested by some mentally ill person, to which analyst responded "they do not have that money" on Bloomberg.

As every professional trader knows, there is a time when you should just cut your losses, even if you lose very much too much, you will still be alive and there will be another day. Eurozone stop loss point was reached long time a go and now they are going for broke. "Ex" communist commissars of politbyro- eh commission holding the steering wheel hating the market forces and not understanding market economy. Maybe the funding countries should consider their position.

Do not get me started over fundamentals, why europeans (except the countries mentioned above) are by design incompetitive against Asia, US or UK...

Anyone who thinks the Eurozone is in worse shape then the US fed or Japan simply hasn't looked at the data. The Eurozone as a whole is a net creditor with no trade deficit. The US is the biggest debtor in the world with a 50 billion per month trade deficit. The US has 50 billion in forex reserves. Thailand has 250 billion. The Eurozone has more gold then any entity in the world. They have over 10,000 tons of gold. The US treasury has 8000 tons. The smallest state in the Eurozone is in the worst financial shape (Greece) The biggest state in the US dollar block is in the worst shape (California)

It is not about what you have, it is about what you can do in future, to produce wealth.

In my opinion, US and Japan are very much more reliable than EU. Built on market economy and trade. EUR was built on political ideals.

As for Cal, it is part of USA, same people same values, not like South Europe would ever be part of Northern Europe.

If you take a look, most of Eurozone countries are in a mess - well, all except the fab four i mentioned, and they are being dragged down by crap other europe. Speaking of who generates europes trade... Lets hear it for 5 hour work week for euros! And eternal funding...

Right now and in the future, countries in the EU and Japan are already producing more wealth the the US. Hence the TRADE SURPLUSES Japan and the EU have. They are producing more then they consume. Everyone lives under this dilusion that the US is in better shape just because it used to be an export power in the 50s and 60s. The Eurozone is also the biggest trading partner with China. Not the US.

Eurozone countries are in a mess now because the ECB is allowing debt to be liquidated. They are pushing through austarity. The US is doing the exact opposite. They printing up new money to cover debt and they are not allowing it to liquidate. This is what Germany did after WW1 and they got hyperinflation. Europe isn't that stupid anymore

Originally Posted by robuzo

David McWilliams has a new Punk Economics lesson up that I think is relevant to the discussion here:
Punk Economics: Lesson 3 - YouTube

I liked the graphics they did,

not entirely incorrect, but a bit simplistic and they forgot to mention a few key items on the situation, for example the Aggregate Supply shift we suffered in 2008 which is more than simply a financial crisis, and the necessary role of the central bank to save the economy, not simply the banks

Originally Posted by socal

Originally Posted by nostromo

Originally Posted by socal

Originally Posted by nostromo

Originally Posted by Warrior

I like this type of predictions

"Obviously I am way early here, .." Why is that obvious?

"... largely due to intervention from... " Yes, if there were no others who could intervene, you would have been right. In fact, we can all be right if there were no others to intervene.
But now, Mr Summers, you are wrong.

So you missed the "Is the European Central Bank Still Solvent?" seminar in London few days ago?

You should be concerned, as you are from the Netherlands. The Nederlandsche Bank, central bank of the country, is de facto funding Eurozone 150 billion euros through target2 system that was not designed for this (other strong countries, Germany 500 billion, Finland 100 billion, Luxembourg 100 billion - and every, read my lips, every other country in eurozone is a leech). In the end should euro project fail in any part the taxpayers in those 4 countries will pay, like you. Does shutting down hospitals in your country sound right? If only Greece exits euro, you will pay quite a lot, they owe ECB 100 bn, your portion of which you will not see coming back to your central bank. Way to go for european dream...

But of course, 100 billions, 100 baht, you get confused. But let me tell you, we are talking about huge amounts of money. 100 million euros is a a lot. 500 million, 1 billion, 10 billion, put into science, education, research and development, we would have a better world. 100 billion, 500 billion, 1000 billion. Why not suggested 3000 billion for euro bailout, "that should keep euro going for 2 or 3 years" as suggested by some mentally ill person, to which analyst responded "they do not have that money" on Bloomberg.

As every professional trader knows, there is a time when you should just cut your losses, even if you lose very much too much, you will still be alive and there will be another day. Eurozone stop loss point was reached long time a go and now they are going for broke. "Ex" communist commissars of politbyro- eh commission holding the steering wheel hating the market forces and not understanding market economy. Maybe the funding countries should consider their position.

Do not get me started over fundamentals, why europeans (except the countries mentioned above) are by design incompetitive against Asia, US or UK...

Anyone who thinks the Eurozone is in worse shape then the US fed or Japan simply hasn't looked at the data. The Eurozone as a whole is a net creditor with no trade deficit. The US is the biggest debtor in the world with a 50 billion per month trade deficit. The US has 50 billion in forex reserves. Thailand has 250 billion. The Eurozone has more gold then any entity in the world. They have over 10,000 tons of gold. The US treasury has 8000 tons. The smallest state in the Eurozone is in the worst financial shape (Greece) The biggest state in the US dollar block is in the worst shape (California)

It is not about what you have, it is about what you can do in future, to produce wealth.

In my opinion, US and Japan are very much more reliable than EU. Built on market economy and trade. EUR was built on political ideals.

As for Cal, it is part of USA, same people same values, not like South Europe would ever be part of Northern Europe.

If you take a look, most of Eurozone countries are in a mess - well, all except the fab four i mentioned, and they are being dragged down by crap other europe. Speaking of who generates europes trade... Lets hear it for 5 hour work week for euros! And eternal funding...

Right now and in the future, countries in the EU and Japan are already producing more wealth the the US. Hence the TRADE SURPLUSES Japan and the EU have. They are producing more then they consume. Everyone lives under this dilusion that the US is in better shape just because it used to be an export power in the 50s and 60s. The Eurozone is also the biggest trading partner with China. Not the US.

Eurozone countries are in a mess now because the ECB is allowing debt to be liquidated. They are pushing through austarity. The US is doing the exact opposite. They printing up new money to cover debt and they are not allowing it to liquidate. This is what Germany did after WW1 and they got hyperinflation. Europe isn't that stupid anymore

It is quite rare these days to hear a professional defending europe. Please do not mention Europe and Japan in the same sentence. Japan is very much at the top, despite all the problems; europe sinks and stinks. What you say about trade surpluses, that is all about the fab four with all industry and services sector there is left in EU. Being killed by being in Europe. Or did you seriously think selling some weird cheese would buy euro out of the hole EU commission made?

Originally Posted by nostromo

It is quite rare these days to hear a professional defending europe

Are the the same "professionals" who are raping and pillaging at the moment?

Originally Posted by OhOh

Originally Posted by nostromo

It is quite rare these days to hear a professional defending europe

Are the the same "professionals" who are raping and pillaging at the moment?

Well, while you do not like market economy, consider this world order enabled you to come to Thailand and to have a nice life. And have a bling and aircon.

Originally Posted by nostromo

consider this world order

Consider it while you can, it is heading for a really unpleasant end soon enough.

"It was all my work and decisions, good and bad, that ruled my roller-coaster"

There you start to gain my respect. But not quite enough now, at this particular point in time.

Originally Posted by nostromo

"It was all my work and decisions, good and bad, that ruled my roller-coaster"

There you start to gain my respect. But not quite enough now, at this particular point in time.

Care to elucidate?

No. To make it min 5 chars I say "a cat".

I was right. Another week gone. I won. Huge pips. Against EUR crap. I listen to Land of Confusion by Genesis with million monitors, one dedicated to Susan Li on Bloomberg. She is intelligent and beautiful. Where EURUSD support level 1 week is now? Lol 52 weeks... Fundamentals... kicking in? If you do not get this, you are a loser. Sorry. No, just a common person.

Originally Posted by nostromo

I was right. Another week gone. I won. Huge pips. Against EUR crap. I listen to Land of Confusion by Genesis with million monitors, one dedicated to Susan Li on Bloomberg. She is intelligent and beautiful. Where EURUSD support level 1 week is now? Lol 52 weeks... Fundamentals... kicking in? If you do not get this, you are a loser. Sorry. No, just a common person.

She is one of the best lookin on there. Betty Lou too

I like Betty Liu very much as well. Wont watch the competing crap channel, except to get another opinion. Besides Bloomberg is first when announcements are made, faster than I can make my snitch talk

Originally Posted by nostromo

I like Betty Liu very much as well. Wont watch the competing crap channel, except to get another opinion. Besides Bloomberg is first when announcements are made, faster than I can make my snitch talk

Anyway good luck with your short term euro trades. All I'm sayin is that the USD has worse problems in the long run. Fundamentally speaking..

Originally Posted by nostromo

I listen to Land of Confusion by Genesis with million monitors, one dedicated to Susan Li on Bloomberg.

day trader loser signature

Originally Posted by socal

Originally Posted by nostromo

I like Betty Liu very much as well. Wont watch the competing crap channel, except to get another opinion. Besides Bloomberg is first when announcements are made, faster than I can make my snitch talk

Anyway good luck with your short term euro trades. All I'm sayin is that the USD has worse problems in the long run. Fundamentally speaking..

Thanks. And good luck with gold for you. US certainly has very serious problems, but not that kind of deep structural problems EU has. And US is correcting its course, that can not be said of EU - more and more money after bad. In my analysis, anyway. History will tell.

Originally Posted by Butterfly

Originally Posted by nostromo

I listen to Land of Confusion by Genesis with million monitors, one dedicated to Susan Li on Bloomberg.

day trader loser signature

Jealous are we?