Question: at what point does the dollar decline start to concern you? Like oil, what is the tipping point that will start to erode confidence?
Future are ripping higher this morning. It doesn’t matter why they are up; they just like to go up. The dollar is getting clown raped and gold/oil continue their respective melt-ups. Remember, it’s important for oil to trade up, ahead of the winter heating season, with respect to taxing people in frigid parts of the country.
The euro is fantastic and I want to keep all of my money in Irish banks, yadda, yadda, yadda.
UPDATE: I sold out of FXY, north of $120.
guess what? we are going higher……(might get a reverse later on)
Ah, now you are coming along, Fly! The dollar goes down, the market goes up, until people realize it’s not just weakening but actually becoming worthless! Then the markets go down as the dollar goes down….
And once that happens, bond bubble bursts, interest rates try to rise, Fed tries to pick up the slack by printing to buy in an attempt to build confidence, dollar continues to drop, etc, etc, etc…
Don’t worry though, as the average American is fully knowledgeable of the current day free thinkers of Mike the situation, Tom Brady and Tom Cruise that resemble the original intelligent free thinkers that built this fine country
The market is celebrating today’s better than expected continuing claims number (even though the previous number was revised UP) and all the while choosing to ignore this little tidbit:
“The continuing claims figure does not include the number of Americans receiving extended and emergency benefits under federal programs. Those who’ve used up their traditional benefits and are now collecting emergency and extended payments increased by about 257,000 to 5.14 million in the week ended Sept. 18.”
Keyne’s was right about one thing, the market can remain irrational longer than you can stay solvent. Banzai!
0.36% for 2 yr note
why you asking us, you don’t give a flying fuck what anyone else thinks. Get a hold of yourself man!
I am actually asking myself. This blog is all about me talking to myself.
Silly jackass
silly jackass, yes. Talking to myself? I leave that to others.
I think I should stop thinking. It’s counterproductive. Time to re-read “Woe from Wit”.
Bad move, especially in the morning pal.
I guess history will repeat? They’ve learned nothing…
http://www.marketwatch.com/story/race-to-the-bottom-in-currency-markets-2010-10-07
JUST TO KEEP THINGS IN
PERSPECTIVE: The situation in Ireland
regarding that country’s costs of bailing out Anglo Irish
Bank are indeed quite high. They are high enough that
the average trader/citizen/investor’s mind simply reels.
Brian Lenihan, Ireland’s Finance Minister, said only a
week or so ago that the worst case scenario for
“repairing Ireland’s financial system” is or shall be €50
billion, which in per capita terms is a staggering
€11,210! That, ladies and gentleman, is a very large
number indeed.
However, let’s try to keep things in perspective, for, at
times such as this, perspective is often badly lost.
Let’s consider what this “bailout” costs in terms of
percentage of GDP and let’s compare that to bailouts
of countries past.
For example… and we are relying here on data
supplied to us from Barclays Capital and our thanks to
Barclays, a long standing “and fully paid up subscriber”
we might add, as our friend Jim Grant is wont to say…
the bailout of Thailand back in ’97 cost approximately
45% of GDP, and that is and shall be the “leader in the
clubhouse.” Nothing comes close really.
Turkey’s bailout of its banking crisis in ’00 cost
approximately 31% of GDP. South Korea’s bailout in
’97… which was a particularly busy year you’ll see as
we make our way down through these numbers… cost
30% of GDP. Uruguay bailed its banks out in ’02 and
that cost the government just barely under 20% of
GDP. In ’91, Malaysia bailed its banking system out,
costing its people 17% of GDP. The Japanese came to
the aid of its banks amidst the global banking crisis of
’97, and that cost approximately 13% of GDP. Finally,
Finland, before the days of Nokia et al, went through a
crisis in ’91 and to pay it off cost the government there
12% of GDP.
So where does that put Ireland and its current
problems? About right smack in the middle of this
troubled list at barely over 30% of GDP, and we should
remember that this is a “one-off” situation; that is, this
shall not be an on-going drain upon the budget of
Ireland. This is the equivalent of a family needing to fix
the roof of its house and replace a washing machine,
television, and other assorted appliances after a storm:
a drain upon the budget of course, but a one-time
event that can be taken care of even if insurance won’t
pay. The history of these other bailouts is that better
times were rather soon around the corner once the
bailing-out was decided upon and enacted. We’d bet
the same shall happen in Ireland… sooner, probably,
than in these other countries.
Fly, Today your persistence will pay off. Gold will reverse, the door out will be so narrow this baby will tank 47 points today. The market will close down 87points. Yesterday was a warning to all those holding those cloud computing crap. Do not capitulate here people holding shorts. i will load up on some inverse direxion shares here on the open.
Are you Bizarro George? We are heading up and away for several weeks.
The more things change, the more they remain the same. I am calling DOW 36K but we will reverse and close down in the red today. This is how markets are made you think one way I think the other way.
months
Fly, I have never met or talked to you but have looked at your work. This day will be the day those gold bugs are going to be caught holding the bag. What do you think anything changed. Nothing changed its the same old game being played.
We are still taking issue with the
now very widely held notion that
the US Federal Reserve Bank
has launched upon some highly
inflationary program of
quantitative easing, which in the
“old days” was simply referred to
as monetisation of the nation’s
debt. Reviewing the statement released by the Fed
after the last FOMC meeting and reviewing statements
by Dr. Bernanke and other Federal Reserve officials
since, and further reviewing the facts of the Fed’s
balance sheet has laid out before us by the Federal
Reserve Bank of St. Louis… the bastion and veritable
nerve centre of classical Monetarism here in the
US…we come to the conclusion that there has been no
quantitative easing thus far! The Fed said in its post-
FOMC communiqué that…
“The Committee will continue to monitor the
economic outlook and financial developments
and is prepared to provide additional
accommodation if needed to support the
economic recovery and to return inflation, over
time, to levels consistent with its mandate.”
Read that again and read it slowly. The Fed did not say
that it was already providing new liquidity to the
system; it did not say that it had been doing so. The
Fed said simply and directly that it “is prepared to
provide additional accommodation if needed…”.
Further… and we feel rather like some small voice
crying out in the wilderness as we
raise our hands here, leaping and
shouting from our post in southern
Virginia… the adjusted monetary
base has not grown at all over the
course of the past year. We are
growing tired of bringing this fact to
everyone’s attention and we suspect
that everyone is even more tired that
we are. However, the facts are the
facts and the facts are that the base is actually
negative year-on-year. Quantitative easing wherefore
art thou, therefore?
I will short from 1170….damn them all
Eye on TXN
Possible SMH short within the first few minutes.
what makes all of yous think that you are smarter than Heelicopter Ben, etc. “the Fed” and you can fight it and win? So, when do we start on the road to Armageddon 2? before Christmas or after?
after.
of course.
Papi? Why is the dollar asploding even when jobs and sales are going? Is the dollar going to die?
What’s wrong with the dollar dropping? If we could get some 10% inflation going,
the Chinee and our rich bondholders would be the ones paying for our debt.
To Ben: PRINT, baby – PRINT!
That’s a good question. My twisted view is that I’d rather pay off my student loans with worthless dollars than very valuable dollars.
So the market will continue going up forever put your money in a CD son. There are no minor leagues on wall street.
Why ride a position down from 50 to 1.50?
Keep buying that gold, we will see if they accept gold at your local grocer.
give it time
I’ve used 1 oz silver coins to buy cuban cigars.
Covered SMH and GG short at gap open.
Done for the day (I think).
Idiots are going to run MU up into the close like they always do and then MU will report crap AH like it almost always does.
Inflation will be so bad you will have to fill out a 1099 for tomato purchases.
Sez who? There is no inflation now except in areas with monopolies that
should be destroyed. Private health insurance and private colleges for example.
We don’t need no $5 million CEO’s, college Presidents, and football coaches,
or $600 million stadiums with skyboxes. Get your degrees online or at
local community colleges.
ShittyCorp (C) at breakout price and if it does will lead financials higher w/ JPM,etc.
when gas becomes 5 bucks a gallon “after” christmas. and the sheeples are tapped.
Can you provide more information on this? take care
No Brainer.
Buying SMH on the dips and selling on the upticks.