Eastern Europe is Collapsing
Wednesday, February 18, 2009 at 10:42 pm
Enjoy!
UPDATE: U.S. is bankrupt.
Has no intention of paying back its TARP money.
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USD will be the safe haven.
Need a ETF that shorts the world.
Fly is god
chain reaction coming….
Cap mumbles:
47.5 + crowd - Juice, TC, AlphaDawg, Mrkcbill, JakeGint, Anton,
Again, I appreciate the flattery of being placed among such august company (you forgot Chivas!), but no.
Let’s put it this way… Fly’s the same age as my younger brother.
I mean to get them together some day, as he has just moved back to Mah-hah-ahn.
______
How can we profit from this Eastern Europe collapse ? Short the Euro ? Any other ideas?
Romania’s goat exchange is in shambles? Gadzooks!
IN YOUTH, WE LEARN, IN AGE, WE UNDERSTAND.
Asia is mixed and flat at this time - US futures are slightly green. Employment figure and inflation figure due tomorrow - probably another blah day shaping up. That Stanford “billionaire banker” guy is a piece of work - FBI is investigating money laundering tie to Mexican Gulf drug cartel.
@ crude_oil:
I believe that’s DUG and SDS =P
I think this means more hot girls from Prague will want to be nannies here, and especially in Mah-hah-han.
Could be an opportunity, Fly.
__________
How profit from eastern europe in the toilet?
Sell the fucktating Euro.
I really don’t know how the Euros will ever be able to pay back their US swap lines.
To restore confidence into this market, Obama should print another $58 billion - $50 billion for the Madoff victims and $8 billion for the Stanford ones. Basically another way of announcing the government is covering your losses. If everyone figured out there way no way to lose because the government had your bank, every nickle and dime on the sidelines would find its way back into the market.
How will the government profit from all this ? Just use that $800 bil stimulus package and go long S&P futures right before the announcement that the government was covering all losses. Obama needs to realize that he is a managing partner in the worlds largest hedge fund. And he makes the rules. So he can make all the money he wants. If it all backfires, Obama can blame it on Bush and the Republicans.
It’s actually quite amusing to watch in a sort dark humor way.
Europe is a totally inflexible economic system with sclerotic labor and goods markets. More than anyone they need to devalue the Euro with serious quantative eassing and the stupid frog prez of the ECB keeps talking about inflation targeting.
The fucking moron thinks it’s their policy that is driving down inflation when in fact it happening becasue of the economic contraction.
The US looks like a boom compared to what is going to hit those fuckers in the balls.
fly and jake are bros?, that explains the weird homothug-ish grammar issues ovah heah with both of them lol
Fly,
get off of my short euro trade. The way you’ve been trading lately, you’ll ruin it for me.
Next thing you’ll post is that you’re short GS too and I’ll really be pissed.
Goat
na, Watson. The real problem is that Shed is holding Fly back from true nationally recognized greatness.
http://video.google.com/videosearch?hl=en&q=the%20next%2012%20months%20dvd&um=1&ie=UTF-8&sa=N&tab=wv#
Eastern Europe will get bailed out. Expect violent reversals in stocks, gold, dollar, and oil in the next couple of days. These rallies should be good for eight to ten weeks.
WRITE IT DOWN.
I’m guessing “Watson” had some serious trouble with the verbal portion of his SAT’s.
Specifically, the “reading comp” segments…
________
j, envy is a bitch, ain’t it?
with support for bank nationalization coming from Republicans in congress and now Greenspan, you know we are crazy fucked
They’re coming to take me away, ha-haaa!!
They’re coming to take me away, ho-ho, hee-hee, ha-haaa
To the funny farm. Where life is beautiful all the time and I’ll be
happy to see those nice young men in their clean white coats and they’re
coming to take me away, ha-haaa!!!!!
I’ve been saying for 2 days now that I thought Obama’s goal was to nationalize. I’m really surprised to hear Greenspan say it. Can you imagine what that announcement would have done to the markets 6 months ago?
I can, it would have been the demise of a perfectly effed up system!
JFF
http://promo.russiatoday.ru/Politics/2009-02-11/_We_ll_see_worst_U.S._economic_collapse_ever_.html?page=2
Interesting read from an interview with Gerald Celente US Trend Forecaster with Russia Today
Some points are right on with Fly’s prediction of the commercial RE sky dive that will dwarf the housing debacle
wow, read around 10 lines down in this paragraph for sure.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aM8FpGdbspkQ
China’s stocks rally that’s made the Shanghai Composite Index the world’s best performer this year will falter as profits are “non-existent,” according to independent economist Andy Xie. The index is valued at 17.4 times earnings, the most expensive among the so-called BRIC markets of Brazil, Russia, India and China. The rally will run out of steam as “profits are non- existent and valuations are still expensive,” Xie, former chief Asian economist at Morgan Stanley, said in an interview yesterday. He correctly predicted in April 2007 that China’s stock market was a “bubble” and would burst. The Shanghai Composite peaked on Oct. 16 that year and tumbled more than 70 percent to its trough on Nov. 4, 2008, as the nation’s exports shrank and economic growth slowed. *****The rally has fueled concern that companies are using loans to speculate in stocks after new lending rose by a record 1.62 trillion yuan ($236 billion) in January as part of a government drive to boost the world’s third-largest economy. As much as 660 billion yuan of new lending may have been converted by companies into term deposits or used to buy equities, Li Huiyong, Shanghai-based analyst at Shenyin Wanguo, said in a phone interview this week. “It’s a rampant practice,” said Xie. “Here you are borrowing at 1.5 percent and the stock market rises, so you put your money into stocks and hope to get out after making 20 percent.”
link taken from betweenthehedges
.I’ve been saying for 2 days now that I thought Obama’s goal was to nationalize. I’m really surprised to hear Greenspan say it. Can you imagine what that announcement would have done to the markets 6 months ago
They don’t need to formally nationalize Citigroup as they are already. C has to do whatever the government asks. They were told to begin selling businesses and they are. They told them to downsize and they are.
The idea that Geithner would want to have someone manage these monstrosities is silly especially when they can have the current management act as liquidators.
Housing prices in Eastern Europe continue to be at unsustainable high level. The decline has started and it will accelerate, effectively putting many people out of their homes as it wipes out their equity. The good news for the banks is that all mortgages were made with at least 10% cash, out of pocket down payment and in half of the cases 20%. This will provide the local banks with some cushion. The savings of most people in Eastern Europe are in Euro or USD. After the hyperinflation they experienced in the 1990s, they don’t trust their own currencies. The currencies of some of them are pegged to the Euro, which prevents the local government to intervene in the economy in a major way. In long-term perspective, this is always good as the weak will be let to fail. The deficits on the current account are high as a percent of GDP, but they are high mainly because of the high crude oil and gas prices, that Europe experienced in the last several years.
Don’t worry about Eastern Europe. The people there live in recession like economy for the last 20 years. They have the experience and the savings to ride out any crisis.
this is good for a few lols, if anyone missed it and ever thinks of moving to dubai.
http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=2&ref=world
“Before, so many of us were living a good life here,” Mr. Thiab said. “Now we cannot pay our loans. We are all just sleeping, smoking, drinking coffee and having headaches because of the situation.”
Is that not funny? Is that not how the rest of the world feels?
Is that not how Americans feel, upside down mortgages and car payments, unemployed, COBRA running out, young family to feed, not enough savings, maxed out credit cards, and student loans to pay off?
Is this a global economy or what?
The solace lies in knowing that the “global economy” is truly that, and that NOBODY is getting out alive…
What to do? As FLY said, an economy without virtues is one worth blowing the fuck up….
Where’s my C4?
from prior thread:
So Greenspan publicly endorses nationalizing the big banks and within a day Bernanke is asked if he agrees. Bernanke, in dismissing the idea says (paraphrasing) ‘we’d rather get banks back in private hands as soon as possible…I mean, we’d rather see them stay in private hands.’
Was Greenspan’s statement a trial balloon, floated to gauge people’s and the market’s reaction?
More importantly, was Bernanke’s statement a Freudian slip or a tacit admission that they are already effectively nationalized?
Is nationalization already in the works? They surely must have a team working on a contingency plan, but are they already planning to do it?
I’m going to bitch-slap Alan Greenspan.
This guy needs his own tab at ibc - or is that Woodshedder?
http://www.youtube.com/watch?v=DxPcJyypUKc
that’s walstreetpro
That must be j …. Hyperinflation or deflation … let me see….
Best. Economist. Ever.
http://www.youtube.com/watch?v=xV5Ulu86-TY
Germany steps in and saves the Euro ….. for now
Buy DZZ for a quickie …. and befriend DD at the same time
Thanks Fly:
I’m now thinking of shorting gold after that.
Thunderpup Says:
This guy needs his own tab at ibc - or is that Woodshedder?
that’s the best vid i’ve seen on the economy.
stanford is on the lam
http://news.bbc.co.uk/2/hi/americas/7898569.stm
What to do, what to do?
I think I’m going to keep my coin parked largely in cash for a bit (like a pussy) and see what happens.
Mars.
TWM shorts the world
A great real time free fx tracker:
http://www.dailyfx.com/charts/Chart.html
very recent Euro spike, 1:10amHST
crude, you can try shorting ioo
The replacement for Nancy Pelosi
http://www.youtube.com/watch?v=53UqNTDFi0w
Holy shit, did anybody just see the last 5 minutes of CNBC?
Epic rant. Chicago Tea Party, anyone?
Yes, I saw it.
Although this time of the year it would be better to start the revolt in Scottsdale or Honolulu.
Can’t believe you chose to re-post the Redneck Ranter over the hot babe/economist with the FICA give back idea.
___________
Red Neck Ranter is a cross between Roy Williams and Roubini
Santelli is the man.
U.S. Producer Prices Rose 0.8% in January; Core Rate Up 0.4%
I hope people realize just what a shitty result this is. Possibly we need to say good bye to deflation and hello to real 70’s style inflation. This is not pretty for stocks either longer term.
Get in the vortex!
You doom’n'gloomers should be lined up and shot for treason (or for free thinking, whichever is worse in this country). Inflation at .8% … I saw some guy on tv a day ago salivating that, if this report came in at .4 or below we’d “officially” be in deflation. Well, not this time - so where’s the vortex, guys? I’m looking for your vortex and it’s nowhere to be seen. You need to free-think it into existence.
No deflation, trillions pumped in the money supply, housing scraping along the bottom with zilch for new supply coming in.
The future is higher inflation, interest rates, and stock prices.
that dude sounds pissed
Clearly that guy needs to get laid.
London, yes we’re going to get an oversold rally for a few days. Doesn’t change a thing. PPI @ .8 just a headline number. Look at the internal components. DEFLATION BIG TIME!
j, when are you going to get off this stupid inflation bullshit? Are you really that stupid?
GOLD going DOWN. Watch and learn COWS.
Cronkite was a great addition. That fucker is a prolific poster and he covers several markts, not just stocks.
London
Is the future really higher stock prices longer term or do we end up with a 70’s style crash? Maybe we end up with a huge rally and then the bottom falls out as the CBs have to reverse course.
I read an interesting thing today that blew me away.
Californian house prices are down 45% across the board yet the sales figures in dollar terms is now higher than it was in 2007.
Don’t forget we still do have an oversupply in housing in the US.
j, when are you going to get off this stupid inflation bullshit? Are you really that stupid?
That’s the consensus view now, dickface and I’m not sticking with an overwhelming consensus view when the facts don’t speak for that.
Yea that’s right, satanic. If I was fly I’d just keep Cronkite and blow out the other hangers on like Shed, as they’re taking far too much space on the site and detracts away from where the real action is. It’s like a firm selling out non core businesses.
So far I am unimpressed with the so called bounce today. I know it is early but after yesterday’s failed attempt to get back up after Tuesday’s ass rape, i expected to see more of a push. This looks weak to me. I am expecting a pull back and the tape to turn red mid day.
^^^agree with T Moe^^^
Was that a great opportunity to short financials or what ? Shorted WFC JPM GS COF STI at the open . Keep a close eye on WFC. She’s going down and its going to get uglier than Dennis Kneale at a gay pride parade.
TMOE - The fuckery if it does occur will happen late. We could be down 150-200 and then boom last 2 hrs we’re up 400. I expect lots of weakness today and perhaps a late day rally.
Is anyone holding FAS right now ? I am not impressed with this grundle licking bs push north.
Fly, Jake, Cap, DD, J are any of you holding or buying fas down here ?
does anyone have a clue as to what is going on with LDK?
Wow, C just broke below it’s all-time low of $2.80.
Just tightened up my FAS stop.
Also had to dip my toe into a few ATM Sept GLD puts after watching Cramer tout gold last night.
I’m short FAS via naked calls. I will get long FAS if XLF breaks above $8.23. I will double that FAS position if XLF breaks above $8.4. XLF will probably fill tha gap under $9. In that FAS could make it to $8. Either way short FAS is best in the long run.
Looks like the only thing trading is Bull Shit. Shit might replace oil for heating houses. Looks like a buy here!
Mlaka
I’m just trading currencies at the moment. Got stopped in the Euro but long the Dollar Yen again.
Hey this is really funny.
I was watching the Frontline Program about the crash on Gio’s thread. They spliced the first part of the program and showed the desk I was running. They spliced the trading room back from 1997 to fit the program. I’m on the program! That’s really, really funny.
BTIM @ 1.90
GOLD going DOWN. Watch and learn COWS.
Please to short moooooooore gold here, Mr. Beelzebub Pooch.
____________
And silver too!
________
Malaka — Not buying FAS here, but have nor ruled out a bounce.
Shit… snow outside my window again.
_________
I’m short FAS via naked calls.
Up or down, cock eating or no, that’s a stupid move with ANY triple ETF.
You are not being paid properly for your risk.
_________
GS is looking very strong today. If the market gains strength we could see GS at $92-93
J-
@ What time do you appear on the program?
______
Isn’t today O.E. day, which means we swing violently back and forth around the VWAP?
Jake - I sold Feb 15, 12.5 , 10 and 7.5 calls on FAS. Apart from $7.5 is it realistic that any of the other numbers will get hit by tomorrow ? I sold those calls a while back for huge premiums. That $15 alone was over a buck. 12.5 nearly 2 bucks.
Jake - I sold Feb 15, 12.5 , 10 and 7.5 calls on FAS. Apart from $7.5 is it realistic that any of the other numbers will get hit by tomorrow ? I sold those calls a while back for huge premiums. That $15 alone was over a buck. 12.5 nearly 2 bucks.
It’s all fun and games until someone ends up snorkeling his own trouser snake.
__________
Isn’t today O.E. day, ….
No, that’s tomorrow.
__________
Another idea for that vanity plate on your new ride, CAP
SEL-FEL8
Thank you, JakeGint.
yea Jake.
I’m on the freaking program!!! the fuckers spliced the shots going back to 1997. 12 years ago !!!!!… I was a real handsome dude then. LOL. god almighty that’s a funny.
I can’t tell you what I look like, jake that’s an unfair question.
Look for the best looking dude in the trading room shots at the beginning.
They make it look like it was the Bear Stern room and it’s not.
Banks GS and MS being the exception are looking weak again.
C at its lows and BAC about to break 4 bucks. Nationalization anyone?
What’s up with the retailers? Nice gains today
Anyone know of any news?
Anyone holding LOPE into earnings with me.
I’m at about a 7% position nothing too huge for me.
# JakeGint Says:
GOLD going DOWN. Watch and learn COWS.
Please to short moooooooore gold here, Mr. Beelzebub Pooch.
____________
And silver too!
________
February 19th, 2009 at 10:13 am
I bought a ton of DZZ at 19.30 as I posted yesterday. I’ll make 20% when I sell for gold’s back test of high’s which will fail and I’ll buy DZZ again and hold until gold hits $600.
Jake, please buy more gold….stupid COW. MOOOOOOOOOOOOOOOOO!!!
Moe
It would be really amusing if they nationalized and the good bank - the private bank at Citi would end up with Morgan Stanley.
That would really put a fair sized bid for MS.
I’ve only got 10% of what i wan to own in MS at the mom.
Where are all the buyers??
Answer there are none. The bulls look exhausted to me. The shorts seem to be waiting to cover. We shorts are the only ones with the balls to buy in this shitty market.
Jim Rogers - http://www.allthingsjimrogers.com/2009/02/17/jim-rogers-on-dutch-tv/
3289– The number of times that dumbasses on CNBC have said BOTTOM
lol…Jake, look for the bald fat guy with the huge caterpillar looking eyebrows. You know, the one running orders for the traders. In fact, he’s probably there making them coffee.
So when is WallStreetPro2 going to be an IBC tabbed blogger? Is WallStreetPro2 actually The Real Fly?
This video is proof that the “South will rise again”. I don’t know whether to laugh, cry, or throw up? Probably all three.
Steve Liesman just said “Mustard Seed” about Kudlow.
LOL
Devildog, you were claiming to be in DZZ when gold was in the mid $800’s….back in 08.
The fact that you won’t factor that in makes you WEAK.
Shed:
I if were bald i would probably suicide. So no, I’m not bald. Look for the best looking dude in the room in the middle shot. That’s me. Oh and unlike you I don’t look like I’ve eaten 3 dozen philli steak sandwiches washed down with 1 litre of classic coke.
MOOOOOOOOO BAAAAAAAAAA MOOOOOOOOOO I WRITE CRAP ALL OVER THESE BOARDS IN ALL CAPS MOOOOOOOOOOOOOOOOO ALL DAY LOOOOOOOONG BWAAAAAAA WRITE IT DOWN !! MOOOOOOOOO I SEE DEAD KEYS ON MY KEYBOARD -THE ONLY ONE THAT WORK ARE MOOOOOOOOOOOOOOOOOO !!!!!
LET A RALLY BEGIN HERE
Based on nothing more than everyone is either out of the market, short, or some combination other than too long.
Let a HUGE RALLY begin today because I say so!
SWHC SFLY LOPE PBE AVAV LOPE BTIM DVAX LZR
sold my gold stock NG at the close yesterday and added to BTIM @ 1.90 today
Moe
This is what could happen. They nationalize Citi and BAC. the good bits go to MS and GS. GS carves out the good bits of BAC along with Merrill and MS gets the Citi good bank along with the rest of smith barney.
That’s why i reckon those two are getting bids.
Oils holding this bitch up again, along with the weak dollar
# Atlas Vicious Says:
Devildog, you were claiming to be in DZZ when gold was in the mid $800’s….back in 08.
The fact that you won’t factor that in makes you WEAK.
February 19th, 2009 at 11:09 am
You’re making shit up. Go back and get my post that I bought DZZ in ‘08. You’re full of bullshit. My first DZZ buy was 2 weeks ago. I get a kick out of you cows that can’t stand me making big $$$s. Too funny.
FLY
CAN U ASK UR MEXICAN WEBMASTER TO ADD COMMENT NUMBERS. IT WILL HELP US WITH DISCUSSIONS. PLZ.
Jake, please buy more gold….stupid COW. MOOOOOOOOOOOOOOOOO!!!
Thanks, I’v got plenty, dipshit. At $600, it would only be 2.25x what I paid for it.
But I will be buying miners into this dip, thanks wallet openers like yourself.
Keep buying DZZ, pleeease!
___________
lol…you’ve got me there j. I do love a good philly cheese steak. However, I’m a Pepsi guy, not Coke.
Yes I know gold has been going up but the gold stocks have really done zip in the last weeks. Either they are afraid of the earnings coming out (GG today, AEM yesterday, ABX tomorrow) or they are signaling some sort of a top in the metal itself.
LOFL! I almost missed THIS from the Dubious Dawg:
I bought a ton of DZZ at 19.30 as I posted yesterday.
Riiiight, Dubious Dawg — you bought a whole nickel off the ABSOLUTE LOWS!
Please consign yourself to “No CREDIT, No CAPITAL” department, you are laughable.
Hint — try not to make the lies QUITE so blatant, and you might stand half a chance. Back to the Yahoo boards with you.
___________
SUGGESTION BOX: Each comment has a link, like so: February 19th, 2009 at 11:17 am. Just reference that. Yo Quiero una Tequila!!!
My first DZZ buy was 2 weeks ago. I get a kick out of you cows that can’t stand me making big $$$s. Too funny.
Again, you are a lying sack of moocow. You’ve been disparaging gold here as long as you’ve been pissing on the general market.
I guess I could ask Wood or Jeremy or Fly to find the posts, but I think there are enough people here who remember you crapping on gold at $700, $800 and now $950+.
Permadolt, and liar.
___________
Hasn’t Cramer been beating the table on HPQ the last month or so, saying that their management is best in breed.
Well Cramer the management may be strong, but it does not make the consumer go out and buy PC’s and printers.
I did not read through their report, but with the price action in HPQ today I would say that their services side may have seen a slow down also. IBM is feeling that heat today also.
Yes I know gold has been going up but the gold stocks have really done zip in the last weeks. Either they are afraid of the earnings coming out (GG today, AEM yesterday, ABX tomorrow) or they are signaling some sort of a top in the metal itself.
Which is why I’m buying miners and not the metal anymore.
Take a look at IAG and EGO to see where this is going. Miners need to catch up.
________
new post
http://www.cnbc.com/id/15840232?video=1039849853&play=1
Weird Vibe in the market!
# JakeGint Says:
My first DZZ buy was 2 weeks ago. I get a kick out of you cows that can’t stand me making big $$$s. Too funny.
Again, you are a lying sack of moocow. You’ve been disparaging gold here as long as you’ve been pissing on the general market.
I guess I could ask Wood or Jeremy or Fly to find the posts, but I think there are enough people here who remember you crapping on gold at $700, $800 and now $950+.
Permadolt, and liar.
___________
February 19th, 2009 at 11:29 am
Waiting for the posts of me buying DZZ before two weeks ago. BTW, I bought 6 cents above yesterday’s lows not 5 cents. I win big…you lose. Also I don’t care that you bought gold at $250 years ago. Keep holding it and when gold goes back to $250 you’ll have made less than zero considering you paid whith a higher dollar back then. Loser.
I’m about to start kicking random old people down the steps! (to steal one from Fly)
Just cause this market is so fucking fruity right now. Big time fuckery must ensue.
My stocks are sick of not going up enough from your fruity benign panic of lower lows. My stocks remain stedfast picks. However, this Pansy ass market needs to shit or get of the pot. If the bears are looking for a break here, they need to find some panic SOON or a rally will ensue based purely on their demise.
I swear on the insolvency of our nation I will up 3% by end of day FUCKERS!
# JakeGint Says:
Yes I know gold has been going up but the gold stocks have really done zip in the last weeks. Either they are afraid of the earnings coming out (GG today, AEM yesterday, ABX tomorrow) or they are signaling some sort of a top in the metal itself.
Which is why I’m buying miners and not the metal anymore.
Take a look at IAG and EGO to see where this is going. Miners need to catch up.
________
February 19th, 2009 at 11:31 am
You are going to lose big on miners too. Stupid cow. POST YOUR BUYS SO I CAN LAUGH MY ASS OFF.
All they need is god dam Fooohhhoooddd
wQQCBe