More Doom & Gloom to Come

jackspratt wrote:Alternatively, the UK could dust off the old arrangements, and the US could apply to rejoin as a colony - with independence guaranteed at some time in the future, when it could prove it had a functioning form of government, and could handle the family purse properly.

Thanks for the laugh Jack . I knew you had a sense of humour. You were joking weren't you?

....and could handle the family purse properly.

They would have to start off being given a weekly allowance and see how they manage that and progress from there.

trubrit wrote:

jackspratt wrote:Alternatively, the UK could dust off the old arrangements, and the US could apply to rejoin as a colony - with independence guaranteed at some time in the future, when it could prove it had a functioning form of government, and could handle the family purse properly.

Thanks for the laugh Jack . I knew you had a sense of humour. You were joking weren't you?

Please tell me our guys won't have to dress up in bright red coats and bang a big drum to stop them shooting themselves this time.

Parrot,

Did you mean to make your above post on the "Has Britain and Cameron done the right thing?" thread:

post282131.html#p282131

I am hoping you did.

"Did you mean to make your above post on the "Has Britain and Cameron done the right thing?" thread:"

Yes, thanks for pointing that out. My post above deleted and reposted.

Two days ago Blackrock filed a 13G with the SEC, reporting a 10.4% ownership position in Agnico Eagle (AEM) stock. We won’t know for sure if this is part of a larger wave of big institutional money flowing into the extraordinarily cheap mining stock sector, but just like hedge funds are "monkey see, monkey do," big institutions tend to run in herds.

Something wicked this way comes...

...and so on...



http://dzswc0o8s13dx.cloudfront.net/gol ... -01-12.png

The Fed's money printing presses just don't stop.

Fed to Weigh Further Easing Amid Doubts About Recovery
http://m.cnbc.com/id/45977098

They meet next week and the market concensensus is for more QE. Surprise. Surprise.

Yes, didn't Obama just ask for a trillion or so in extra loose change? Woe to the United States, woe to the world!!!

Well, it seems Bernanke trotting out to say "oh, everything is just fine" while the ECB added well over 700 billion of liquidity to the system has had the desired affect on the markets. Incredible.

Meanwhile, the ISDA which is comprised of the same financial institutions holding or backing derivatives, has declared that an over 40% haircut on Greek debt does not constitute a credit event. Incredible.

http://www.marketwatch.com/story/no-gre ... k=MW_pulse

So, if you borrow a million euros, and it was determined you could not repay half of that, the institution you borrowed from would declare you to be in default. Well, apparently not so with Greek bonds...everything is just fine.

Count me out on one who believes in the gloom and doom prophesies. Having just returned from 6 weeks in Texas and Florida, I saw little evidence of gloom and doom on the streets. What I saw was people working, stores and restaurants busy on most every day of the week, few for sale signs on homes in San Antonio and Cape Canaveral/Cocoa Beach Florida, cruise ships full and planned building for space for more to come, nearly every Starbucks with a line, Apple stores doing a bustling business, and most everyone we met driving much nicer cars than I've ever owned. Finally, I saw evidence that I'm one of the few people in the US without an Apple phone....or Android equivalent. And, yes, an Apple phone is worth every penny if you own one in the US where you can use its full capability. Just ask Siri.
I know beyond my rose-colored glasses there are plenty of down and out folks who need a job, need to sell their home, or lack the cash for basic needs. But I'll be damned if I saw much/if any evidence of that while back in the US.
Meanwhile, the dow broke 13,000......and despite the naysayers from the past many years, my social security is intact.
Time to refill my cup......it's half full.

Texas is an oil state. Not surprising. Oil companies have been doing gangbusters profit and it trickles down quite nicely in Texas. Take a stroll through the city of your choice in Michigan, Pennsylvania, or smaller city in California (to name just a few)...but leave your valuables at home.

financial dichotomy.. I've been back in the States for 2 months now. In NC and SC I see restaurants and retail outlets packed with people every evening.. On the flip side when I check real estate listings with 5 km of my house I see about 40% of them as bank foreclosure or "short" sales.. In Charlotte, NC, when Chiquita Banana moved their Hq recently over 4000 people applied for 40 jobs.... So the hustle and bustle in retail may not necessarily reflect reality.

Almost everyone I grew up with in the States is struggling. Struggling to maintain or struggling to recover from a bad situation. More than half of those who bought a home in the past decade have lost it. Relationships straining, graduating kids unable to find work. Reports of incredible food prices.

I was last in the States a year ago and things looked normal, but looking deeper, I observed signs of straining such as several people in the supermarket using credit cards to pay for food, reluctance of people to fill up at gas stations, significantly longer lines at buffet chains, packed hotels/motels with more entire families on long stay during non-holiday season. If one looks where those who are struggling should be, there will be no shortage of them. I don't know that struggling people would be found at Starbucks...

China cometh...
China Expands Yuan Export Settlement to All Qualified Companies
http://www.china.org.cn/china/2012-03/0 ... 787800.htm

5th consecutive month...
China reduces holdings of US govt bonds
http://www.chinadaily.com.cn/china/2012 ... 746454.HTM

If it were a country, California would be the world's 5th largest (and near bankrupt) economy...
California Cities Hit the Wall
http://online.wsj.com/article/SB1000142 ... _pageone_1