Go Back   This Blue Marble, a Global Current Events Discussion Forum > Main Floor > Economy

Economy Economy discussion forum. Discuss the politics and effects of the general economy and global economic collapse here. Please keep all politics out of the Finance and Investment subforum.

Reply
 
Thread Tools Search this Thread Display Modes
Old 02-21-2011, 08:38 PM   #51
Ought Six
Lifetime Level 3
 
Ought Six's Avatar
 
Join Date: Oct 2008
Posts: 35,164
Blog Entries: 15
Thanks: 180
Thanked 392 Times in 328 Posts
Arrow

So you seriously think that we invaded Iraq just because of that?
Ought Six is offline   Reply With Quote
Old 02-22-2011, 12:55 PM   #52
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Libya Declares Force Majeure On Oil Exports Of 1.5 Million Barrels A Day

This is also posted in the Mideast Turmoil thread.
leistb is offline   Reply With Quote
Old 03-03-2011, 07:33 PM   #53
Malcolm
Senior Level 3
 
Malcolm's Avatar
 
Join Date: Aug 2008
Location: Australia
Posts: 3,361
Thanks: 2
Thanked 277 Times in 201 Posts
Alot of people in Australia are suing the "Lehman Bank"
http://www.abc.net.au/news/stories/2...section=justin
Malcolm is offline   Reply With Quote
Old 03-03-2011, 08:21 PM   #54
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Anyone watching the dollar? 76.47 as of this writing. In spite of all the turmoil in the world, it continues its steady decent. No longer a flight to safety choice.
leistb is offline   Reply With Quote
Old 03-03-2011, 09:18 PM   #55
Sonny
Star Witness
 
Sonny's Avatar
 
Join Date: Aug 2008
Location: the safe house
Posts: 5,747
Blog Entries: 1
Thanks: 1,929
Thanked 756 Times in 491 Posts
Anyone watching the dollar? ahhh? What happened?
and where to from here?


Sonny is offline   Reply With Quote
Old 03-03-2011, 11:58 PM   #56
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Quote:
Originally Posted by Sonny View Post
Anyone watching the dollar? ahhh? What happened?
and where to from here?


This is a FREAKING Disaster… And It’s Happening Right NOW!


Follow the link above for some cheerful charts.
leistb is offline   Reply With Quote
Old 03-05-2011, 03:50 AM   #57
Greta
Senior Member
 
Join Date: Aug 2008
Posts: 1,302
Thanks: 172
Thanked 25 Times in 23 Posts
I am not sure if this article has been linked any where here or not. But I was watching an Alex Jones video on YouTube, and he mentioned this article so I did a search and found it. The plans are in place to dismantle the dollar. In reality, those plans have probably been in place for quite some time. So basically, they are beginning to use mainstream media via WSJ to slowly break Americans in to the concept.

Why the Dollar's Reign Is Near an End
Greta is offline   Reply With Quote
Old 03-06-2011, 02:12 AM   #58
ltow
lurker level 3.14
 
Join Date: Sep 2008
Posts: 891
Thanks: 28
Thanked 64 Times in 37 Posts
"debaser" by the pixies"

below 70 then it is so number 1
over 70 not so much

smoosh ya
__________________
on a walk-about
ltow is offline   Reply With Quote
Old 03-09-2011, 08:27 PM   #59
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Default Pimco: Bill Gross Dumps All Teasuries

Moves to cash.
leistb is offline   Reply With Quote
Old 03-09-2011, 08:28 PM   #60
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Default How to play the Pimco dump

From a former Pimco employee.
leistb is offline   Reply With Quote
Old 03-10-2011, 12:34 AM   #61
preppiechick
Senior Level 1
 
preppiechick's Avatar
 
Join Date: Aug 2008
Location: Clinging to my guns and religion
Posts: 1,775
Thanks: 10
Thanked 9 Times in 8 Posts
And Icahn returned $1.76B from his hedge fund :

http://www.usatoday.com/money/indust...nvestors_N.htm

I can't believe that more people aren't freaking out over these two stories
__________________
"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis shrink from the service of his country; but he that stands now deserves the love and thanks of men and woman. Tyranny like hell is not easily conquered yet we have this consolation with us, the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly; it is dearness only that gives everything its value."

-Thomas Paine
preppiechick is offline   Reply With Quote
Old 03-18-2011, 02:14 PM   #62
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Dollar Takes Out 2010 Lows, 2011 S&P Now Down 2.3% In Dollar Purchasing Power-Adjusted Terms
leistb is offline   Reply With Quote
Old 06-14-2011, 09:40 AM   #63
Greta
Senior Member
 
Join Date: Aug 2008
Posts: 1,302
Thanks: 172
Thanked 25 Times in 23 Posts
US Is in Even Worse Shape Financially Than Greece: Gross

Interesting at the end of the article, Gross predicts if all hell breaks loose from Greece's problems, then there will be a flight to safety, not for US debt but German debt.
Greta is offline   Reply With Quote
Old 06-14-2011, 10:22 AM   #64
Samen
unregistered
 
Samen's Avatar
 
Join Date: Oct 2008
Posts: 6,214
Thanks: 195
Thanked 459 Times in 295 Posts
That is what they saying here now, no more money to Greece, instead back up the German banks and now.
Also today's news here, Finland is in the same situation as Greece.
Samen is offline   Reply With Quote
Old 06-14-2011, 02:37 PM   #65
Kassy
Eurothrash
 
Kassy's Avatar
 
Join Date: Aug 2008
Location: EU ~ NL ~ 0 0 0
Posts: 8,424
Thanks: 237
Thanked 261 Times in 215 Posts
Quote:
Originally Posted by Samen View Post
That is what they saying here now, no more money to Greece, instead back up the German banks and now.
Also today's news here, Finland is in the same situation as Greece.
Wouldn't that be painting with very broad strokes? It probably needs some restructuring of social benefits like more northern EU countries but their bookkeeping should be much more reliable then Greece.

Speaking of Greece...they probably not happy by their new S&P rating...

ETA: Also see Greece thread #257 and on:
http://thisbluemarble.com/showthread.php?p=295426
__________________
Free hugs
Kassy is offline   Reply With Quote
Old 06-15-2011, 06:11 AM   #66
Samen
unregistered
 
Samen's Avatar
 
Join Date: Oct 2008
Posts: 6,214
Thanks: 195
Thanked 459 Times in 295 Posts
"In Finland, the working-age population will decrease faster than any other European country. At the same time the need for publicly produced in elderly health care services is growing exponentially. If we change our direction, our economy threatens to plunge the same to the crisis of the 1990s recession," says McKinsey's extensive work, the factors and the productivity report prepared including Olli Salo .


He reminds us that we approach a situation that was Greece, before the economic crisis.

http://translate.google.com/translat...icle641470.ece
Samen is offline   Reply With Quote
Old 06-22-2011, 08:03 AM   #67
Greta
Senior Member
 
Join Date: Aug 2008
Posts: 1,302
Thanks: 172
Thanked 25 Times in 23 Posts
Just heard Alex Jones mention this on Infowars, but this is from CNN:

Trades reveal China shift from dollar
Greta is offline   Reply With Quote
Old 06-23-2011, 01:42 PM   #68
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
In addition to China's liquidity freeze, signs of a similar European condition are beginning to reveal themselves.
leistb is offline   Reply With Quote
Old 06-23-2011, 04:37 PM   #69
Sysiphus
Senior Level 6
 
Sysiphus's Avatar
 
Join Date: Aug 2008
Location: Seattle
Posts: 8,530
Thanks: 693
Thanked 1,829 Times in 1,054 Posts
Quote:
Trades reveal China shift from dollar
Given the uncertainty with the Euro and the fact that China has a vested interest in maintaining a strong dollar, I am a bit incredulous. More likely, there has been some pull back but the rest of the change is due to their decreased trade surplus and doing a better job of hiding their dollar-denominated asset purchases.
__________________
Quis custodiet ipsos custodes?
Sysiphus is offline   Reply With Quote
Old 06-23-2011, 05:07 PM   #70
Ought Six
Lifetime Level 3
 
Ought Six's Avatar
 
Join Date: Oct 2008
Posts: 35,164
Blog Entries: 15
Thanks: 180
Thanked 392 Times in 328 Posts
Arrow

Quote:
Originally Posted by Sysiphus View Post
Given the uncertainty with the Euro and the fact that China has a vested interest in maintaining a strong dollar, I am a bit incredulous. More likely, there has been some pull back but the rest of the change is due to their decreased trade surplus and doing a better job of hiding their dollar-denominated asset purchases.
Take a look at this....

http://thisbluemarble.com/showthread.php?t=38109
Ought Six is offline   Reply With Quote
Old 07-28-2011, 04:31 PM   #71
Dietrich
Niche player
 
Dietrich's Avatar
 
Join Date: Jun 2011
Posts: 2,153
Thanks: 395
Thanked 857 Times in 481 Posts
Out of an abundance of caution, I would advise anyone reading this to make sure to have up to 3 weeks worth of cash on hand, if they possibly can, before going into the weekend tomorrow. And here, unfortunately, I mean cash in a safe at home, not in a checking account.

It is not inconceivable to me that the Fed could, in an emergency, order limits on withdrawals. This could happen very quickly, post-default. Possibly going into Monday night, the evening before default, since the overnight repo and reverse-repo market will or will not function Monday night. If it does not function, then the money market system will freeze up Monday night. If this happens, it is like October 2008, and the Fed will ibe free to change and institute emergency rules immediately, which may be extreme.
Dietrich is offline   Reply With Quote
Old 07-28-2011, 04:39 PM   #72
leistb
There's no justice - it's just us
 
leistb's Avatar
 
Join Date: Sep 2008
Posts: 10,398
Thanks: 1,398
Thanked 2,861 Times in 1,299 Posts
Quote:
Originally Posted by Dietrich View Post
Out of an abundance of caution, I would advise anyone reading this to make sure to have up to 3 weeks worth of cash on hand, if they possibly can, before going into the weekend tomorrow. And here, unfortunately, I mean cash in a safe at home, not in a checking account.

It is not inconceivable to me that the Fed could, in an emergency, order limits on withdrawals. This could happen very quickly, post-default. Possibly going into Monday night, the evening before default, since the overnight repo and reverse-repo market will or will not function Monday night. If it does not function, then the money market system will freeze up Monday night. If this happens, it is like October 2008, and the Fed will ibe free to change and institute emergency rules immediately, which may be extreme.
Copied from this thread. Seems like prudent advice at this point in the road given how far the retards seem to be willing to push this bullshit.
leistb is offline   Reply With Quote
Old 07-28-2011, 04:50 PM   #73
Sysiphus
Senior Level 6
 
Sysiphus's Avatar
 
Join Date: Aug 2008
Location: Seattle
Posts: 8,530
Thanks: 693
Thanked 1,829 Times in 1,054 Posts
There is not going to be a "default" in the near term whatever happens. What will happen is that fedgov will stop some of its discretionary spending and furlough some workers. As with the manufactured crisis that preceded the bank "bailout" (also known as the largest transfer of wealth from the middle class to the superrich in history), there will be many dire predictions over the next few days. Almost none of them will have any basis in reality.

And the credit downgrade is inevitable whatever happens because we are running a deficit of more than 10% of GDP each year and that is not going to change anytime soon.
__________________
Quis custodiet ipsos custodes?
Sysiphus is offline   Reply With Quote
Old 07-28-2011, 04:55 PM   #74
Dietrich
Niche player
 
Dietrich's Avatar
 
Join Date: Jun 2011
Posts: 2,153
Thanks: 395
Thanked 857 Times in 481 Posts
Quote:
Originally Posted by Sysiphus View Post
What will happen is that fedgov will stop some of its discretionary spending and furlough some workers.
Virtually any such violation of written employment contracts with workers or employees or subcontractors or failure to pay for services or goods on time as agreed, will be viewed by S&P as a default by the US government. They said so today.

Even discretionary spending from, say, next Monday to next Friday, are under written contracts with the Federal Govt, though the OMB or Treasury. For example, a small park project next to the Smithsonian that's supposed to happen on Tuesday. There are already written OMB contracts for this discretionary spending with all the contractors who are going to do the work in the park. All that paperwork was signed and sealed, say, last week (but more realistically, months ago).

Last edited by Dietrich; 07-28-2011 at 05:02 PM.
Dietrich is offline   Reply With Quote
Old 07-28-2011, 04:58 PM   #75
Sysiphus
Senior Level 6
 
Sysiphus's Avatar
 
Join Date: Aug 2008
Location: Seattle
Posts: 8,530
Thanks: 693
Thanked 1,829 Times in 1,054 Posts
Quote:
Virtually any such violation of written contracts with workers/employees/subcontractors, will be viewed by S&P as a default by the US government.
Really? And how was it any different when the Repuglicans held up the budget back in 1994? Dire predictions of catastrophe to strongarm voters into getting behind yet another stupid bill that lets the farce continue and kicks the can down the road. That is all this is. A downgrade is inevitable because fedgov is spending money like a drunken sailor. It's either now or later. I would rather have it now.
__________________
Quis custodiet ipsos custodes?
Sysiphus is offline   Reply With Quote
Reply

Tags
attention, folks, pay

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 01:16 AM.


Powered by vBulletin®
Copyright © Jelsoft Enterprises Ltd.