Governments don't run the world.

And I'm sure he'd love to sell you a plan to make money.
 
Glaucus said:
And I'm sure he'd love to sell you a plan to make money.
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He only does trades with his own money, so I don't think he is selling anything. Forbes looked into it as some suggested he was with "YesMan" group, but they think he is legit.
 
Ok, but he's obviously planning to make money off a down market. Best way to do that is to help push it off the edge. It's in his best interest for us to believe him and to panic and to pull out of every investment to help devalue everything. He knows fully well that it's impossible for EVERYONE to profit from a downmarket and that not everyone can fully protect their investments. He's lucky to be in a position where he can profit and is doing whatever he can to make it sure it happens. His "honesty" seems very deceiving.
 
Clearly the guy doesn't have the insider knowledge that would be needed to make such conclusions. Even if he happens to be correct it's luck, not knowledge.
 
faethor said:
Clearly the guy doesn't have the insider knowledge that would be needed to make such conclusions. Even if he happens to be correct it's luck, not knowledge.
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Fair enough. (Mind you, the same can be said for real traders too.)
 
faethor said:
Clearly the guy doesn't have the insider knowledge that would be needed to make such conclusions. Even if he happens to be correct it's luck, not knowledge.
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What he said has already been talked about for well over a year all over the Internet. Who in their right mind would invest in any Euro bonds or long term US T Bills? Even Jim Rogers says don't touch them. There is a up coming perfect storm financial disaster brewing, it's a question when the Elites pull the trigger on it. When Saudi Arabia goes on the Muslim Brotherhood's front burner, you know the time is very close. One tid bit of info I recently find out, 7.5% of all money in US banks belong to the Saudi's. When they pull that out, all hell is going to break lose. Just imagine the film, "Rollover" on steroids as the EURO collapses. Fat Americans will be far and few between afterwards.
 
US Treasury Bonds were at a high of 142 on Monday. There's certainly LOTS of people buying them. And why not? The only case they'd be worthless is if the US itself is destroyed. If that happens does it really matter if you have bills, stocks or bonds? They'll all be worthless. Your only chance would be move your money off-shore. Certainly the Euro is even worse. And China and Saudi owning all that US stuff will be bad investments too if the USA goes away.

Don't forget the problem on why our bond rating was dropped was because REPUBLICANS decided to not push the artificial borrowing ceiling higher then did at the last second. They need to realize that a problem that's taken 30+ years to make will not be solved overnight without great hurt to their nation. IMO, fear in the USA investing is really the same. The Republicans don't seem to get a quick fix is not the answer.
 
faethor said:
US Treasury Bonds were at a high of 142 on Monday. There's certainly LOTS of people buying them. And why not? The only case they'd be worthless is if the US itself is destroyed. If that happens does it really matter if you have bills, stocks or bonds? They'll all be worthless. Your only chance would be move your money off-shore. Certainly the Euro is even worse. And China and Saudi owning all that US stuff will be bad investments too if the USA goes away.
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They become worthless as inflation eats the value of the dollar. It's happening as I type this, the dollar is being phased out as the world's reserve currency (see BRICS) and that trend will continue which will drop the value of the USD in half, yet again.

Don't forget the problem on why our bond rating was dropped was because REPUBLICANS decided to not push the artificial borrowing ceiling higher then did at the last second. They need to realize that a problem that's taken 30+ years to make will not be solved overnight without great hurt to their nation. IMO, fear in the USA investing is really the same. The Republicans don't seem to get a quick fix is not the answer.
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But that is not what the S&P said on why they lowered the rating, because they wanted to see a minimum of $4T in REAL cuts. The gutless GOP blinked and allowed Obama and the Progressives to give nothing but $38B in 2011 cuts and put all the difficult cuts until 2020 time frame, which means it will never happen. When Obama leaves in Jan 2013, he will be leaving ~$18T national debt, up from $9.9T he inherited from all the previous POTUS, combined. That is one hell of an accomplishment, nearly doubling our national debt in four years when he himself as a US Senator refused to vote for a very modest debt ceiling that Bush requested as being unpatriotic. Oh my, how things have changed.

So what is the not so quick fix? Wait till the national debt is beyond $25T before stop spending money we don't have? Problem is that by the time we hit about $22T, that will take 15% of the world's GDP to cover America's debt addiction, and I don't think they are going to do it which means the Fed just prints more money triggering run away inflation. But it gets worse, there is no way that Ben is going to keep interest rates that low on T-Bills. $18T at 5% (what we typically paid in the 80s/90s) is $900B in annual servicing of the national debt, how are we going to pay that and pay for the rest of government expenses? 100% taxation of those earning more then $100K isn't going to do it, we can't tax our way out of this, so what do we do? We either bite the bullet and ballance our budget or the GDP will slide back to $5T-$7T as our new normal. So far the Progressives have lead us into the minor depression, will they double down and go for massive inflationary depression that will last for decades?
 
Dammy said:
But that is not what the S&P said on why they lowered the rating
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Hmm you must have missed the posting here citing from the documents themselves. The reason cited was the uncertain political climate and the actions in particular cited was those the Republicans took.

Dammy said:
So what is the not so quick fix? Wait till the national debt is beyond $25T before stop spending money we don't have?
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Putting breaks on everything to do this overnight will break everything. We need a reasoned approach to minimize pain and impact. What the Republicans want will push us into another Republican caused depression.

Dammy said:
100% taxation of those earning more then $100K isn't going to do it, we can't tax our way out of this, so what do we do?
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Nor can we cut our way out. It's got to be some of both.

Dammy said:
So far the Progressives have lead us into the minor depression
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Both parties have had their share. But, lets get this right the recession started in Dec 2007! That was under a Republican Administration who put his hands on those policies that squandered the surplus and returned the nation to this state. Obama inherited not created the problem.

Oh and a small positive sign...
"Claims tumbled to 391,000, down 37,000 from a revised 428,000 in the previous week and below the key 400,000 mark. Economists say that claims need to drop below 400,000 for an extended period to put a dent in the 9.1 percent unemployment rate. They need to drop below 375,000 for substantial job growth"
 
faethor said:
Hmm you must have missed the posting here citing from the documents themselves. The reason cited was the uncertain political climate and the actions in particular cited was those the Republicans took.
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I must have, please link it to me in PM so I read it.

Putting breaks on everything to do this overnight will break everything. We need a reasoned approach to minimize pain and impact. What the Republicans want will push us into another Republican caused depression.
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We are already in a depression. Yes it will hurt, but if you look at what South Korea did, they let the banks go under, lick their wounds, and have come back stronger.

Nor can we cut our way out. It's got to be some of both.
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Sure we can. The only thing we can't do is tax our way out of this mess.

Both parties have had their share. But, lets get this right the recession started in Dec 2007!
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And ended in June of 2009. What's Obama's excuse now?

That was under a Republican Administration who put his hands on those policies that squandered the surplus and returned the nation to this state. Obama inherited not created the problem.
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Lets see here, Clinton left Bush a mess (dot com bubble burst, Enron, World Global (think that was the name)) and then less a year into this all, 9-11 happened with two wars. We did pretty good until 2007. What happen in 2007 you may ask? The Democrats took control of the House of Representatives and then Democrats took control of the Senate a few months afterwards when a GOPer turned to Independent and gave control to Reid. Isn't that enough for giving business environment a downward spiral? You can blame Bush all you want for his last two years on the effects on the US economy, but every dollar spent, every dollar taxed, was by the orders of Democrat Party as they had complete control of Congress. So exactly what "policies" did Bush enforce that wasn't created by Congress?

Oh and a small positive sign...
"Claims tumbled to 391,000, down 37,000 from a revised 428,000 in the previous week and below the key 400,000 mark. Economists say that claims need to drop below 400,000 for an extended period to put a dent in the 9.1 percent unemployment rate. They need to drop below 375,000 for substantial job growth"
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http://cnsnews.com/news/article/cbo-unemployment-will-remain-near-9-percent-through-2012

My area is currently at 11% unemployment and we are swing state. California, lucky for you is a solid blue state which is now at 13%. If it remains like that for another 12 months, even California will be in play for the election. If Obama can't hold California, one of my favorite quotes applies:
 
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