Global economic situation for liveaboard cruising yachties

[masalai]

From the Australian side of the world (geographically) http://financialsense.com/fsu/editorials/bloom/2009/0616.html and I feel Brian Bloom is pretty well right on the mark....

"Russian President Medvedev suggests the dollar is on its way out", because he believes it is so...
"Russian Finance minister Kudrin says there is no substitute for the dollar", says so because he has US$ to use/get rid of first...
"The Chinese see a need to diversify out of the dollar", because they are pissed off at being ripped off by fluctuating exchange rates caused by USA...
"Japanese say their trust in the dollar is unshakable", because they have US$ positions that they need to exit from first... and truthfully that their trust is actually ZERO...
"Let’s look at this puzzle and make some sense of it." enough is enough, wake up America or suffocate in your own detrius...

The rest of the article is here (from inside USA by a usanian author) http://financialsense.com/fsu/editorials/merk/2009/0616.html

This essay is also interesting and deserving of a careful read http://financialsense.com/Market/wrapup.htm

 

[Boston]

Boston,
I should be as independent as one can get by mid 2010 or sooner

I must refute the accuracy of your statement as http://www.kingworldnews.com/kingworldnews/Podcast/Podcast.html - listen to http://www.kingworldnews.com/kingwo..._Dr._Marc_Faber_files/Dr Marc Faber Intro.mp3 - then try - http://www.kingworldnews.com/kingworldnews/Podcast/Entries/2009/6/12_Ted_Butler_files/Ted Butler.mp3 - and next, listen to - http://www.kingworldnews.com/kingwo.../6/12_Dr._Keith_Barron_files/Keith Barron.mp3 - - or one of the others???? . . . . . . had lots to say about 1.5million oz of gold shorted by 2 or 3 major banks that were bailed out by the FED - YES bloody illegal, but done blatantly and openly and forcing Gold to be at least US$200/oz or MORE lower than it should be in an open market.... NO LAWS IN USA????? where are the "tea parties" and fat/lazy/stupid American citizens? just sitting down to a free McDonalds and getting fatter to be made into "Souylent green"?



http://www.kingworldnews.com/kingwo...12_Barry_Ritholtz_files/Barry Ritholtz ED.mp3 is also GOOD and useful info (31min 23 seconds in length)

hmmmmmm
not so sure
whats illegal for the common man is never so illegal for the gov
so you certainly may be right about that but listening to the articles you suggested Im not hearing much about naked shorting
maybe I just havent listened to enough but its on now and nothing about shorting

thing is the recovery has been largely artificial
based on borrowed money to get the lending institutions lending again
last four days have been a nose dive and if it continues these next few days we could be seeing another significant crisis
oh
four days is nothing to panic about but the previous what, nine days have been dead flat and that on the heels of a gradually slowing market

I just got a nice shot in the arm with my new customers signing so with the additional funds Im looking good to take advantage of whatever movement the market makes but
another plunge in the order of what is looming is hardly good for any of us
I sincerely hope that the next few days brings us up above the say 931.6 mark at least for tomorrow
thurs we need to see 934.8
friday 937.8
in order to at least maintain the minimum recovery trend as measured from early March
should the market fail to recover from these last few days we are in a whole new realm
Ill have to stop trading for a few days till I see where it settles
and what recovery has occurred is likely to slip away

if tomorrow trades between 923.7 and 904.5
we are in for a rough ride
if it trades higher
say between 921.2 and 951.2 then things are not so bad
but the S&P would have to get above say 966.8 tomorrow before Ild say it was thinking of continuing the recovery

should be interesting Mas
always good to see what you have to present
lets see what tomorrow brings and then we will know a lot more

 

[masalai]

May luck be on your side as imminent down is what my crystal ball and all other indicators imply, - is not far away, - days maybe a week or two... - but then I am only a very pissed off amateur, waiting for the inevitable to happen, as I need the money from the sale of gold at a profit....

I think something may be brewing USA side, as it is quite quiet there.... Is someone due to speak on a TV interview and "panic the markets again"???

 

[Boston]

well the last big move was when chevy went bankrupt
things shot up from a slow slump to another slow slump
course then that turned into a fast slump but
that remains to be seen as to whether its a sustained fast slump
I also am a small fish in a big pond
but Ild say there is some obvious manipulation on the way
not sure what
but thats why Im going to hold off trading for a day or two
that political bs screws me up every time
thing is
there just about out of magic bullets

 

[Boston]

top of the bis news this morning

Obama to detail broad financial reform

nice timing eh
pulled another rabbit out of his hat
my bet is he had that one all ready to go and was just waiting to see a stutter in the market

things seem set for a low opening say around 912.0 or bellow
and that would put it on track for another day of falling values

going to be an interesting day eh
I think this new announcement will cause a decline in prices today
unless they announce some kind of tax reform associated with it
not likely
that could have a positive effect

this just in
45 min to go in premarket trading and the S&P is down to 906.2 which represents an even sharper downturn than the present 4 day trend
yikes
cant wait to see if Obummer can actually pull another rabbit out of his hat
I hope he can
although so far this whole recovery seems to be based on market manipulation and certainly not on sustainable improvements in policy
so far borrowing his way out of debt


glad I decided not to trade today

 

[masalai]

Look to trade in a falling market as if the needed correction actually takes place the fall will be great as the share price is substantially overpriced when compared with the earning capacity of the economy (globally and locally) - profits to be made for the shrewd and well informed, (who do not listen to the BS on mainstream TV), but who data-mine and analyse the raw data and know how and where to find it...

 

[masalai]

The world has gon nuckin futs and this illustrates the case effectively http://financialsense.com/fsu/editorials/west2/2009/0617.html NO ethics, NO morality, NO care or consideration for others, NO help for the have-nots and the RATS live on in comfort?

http://financialsense.com/fsu/editorials/ash/2009/0617.html Who is in charge? - answer - the brainless idiot in the corner...

http://financialsense.com/fsu/editorials/schiff/2009/0617.html - kite flying looks pretty and is distractingly pleasant for the moment BUT..... ?

What next/now? - I want to go sailing and try to ignore this economic mess.... This **** will continue to hurt everyone for many years hence - I just hope for 25 years of peaceful wandering around the tropical oceanic regions of this world????? or the SECOND coming as soon as HE likes...

I have been struggling with a brief illustration in words, for the current state of the global economy and can only think of "...censored... - - and howl?" - any suggestions that have an element of humour?

 

[Boston]

speaking of kites
if I can at all afford it Ill be putting one of those kite assisted rigs on my yacht

market was kinda wonky today
the S&P broke several trends
one the four day crash it was undergoing
two the long slow three week slump from the previous three week slump
landed right between the two high and low trend lines
a slower decent than the previous four days
a faster decent than the previous three weeks
tomorrow will be another wait and see day
funny but I think the key to successful trading is actually knowing when not to trade more than when to trade

anyway Mas hope all is well and soon as I get a chance Ill check out those links
B

oh
you hit the nail on the head with that comment about doing ones own analysis
its really key

 

[masalai]

The main thing I did not foresee, was the manipulation of the markets by the FED through anonymous proxies - I foolishly thought the Americans were "honest" at higher levels - or something equally blind stupid on my part

In reply to #492 by Boston

 

[Boston]

being an Iroquois pretty much prevented me from ever making that mistake

 

[masalai]

The opening paragraphs are enlightening, 'absorb and internalise' http://financialsense.com/fsu/editorials/schoon/2009/0618.html
"...When credit growth is positive, bull markets result. When credit growth is excessive, bubbles result. When credit growth slows, recessions result and when credit growth contracts, all hell breaks loose.

In free markets, supply and demand determine price and profits. Capitalism’s paper-based markets, however, are not free markets. In today’s capitalist markets, price and profits are determined by credit flows emanating from government central banks.

Under capitalism—or more appropriately, under credit-based debtism—the supply and demand for credit is as important as the supply and demand for goods and services. The critical supply and demand dynamic that exists in free markets is distorted under capitalism, a distortion that will destroy capitalism just as communism was destroyed by a similar systemic distortion.

In credit-based capital markets, investors need credit like addicts need heroin; for just as addicts cannot survive without heroin, investors cannot profit without central bank credit. But more credit, like more heroin, becomes increasingly dangerous with continued usage.

It was the increased availability of credit in the 1980s that was responsible for the historic bull market from 1982 to 2007. In truth, the twenty-five year bull market was but a slow-building bubble in disguise, a bubble the Fed is now frantically trying to resuscitate in the hopes of preventing capitalism’s imminent collapse..."

Learn it well... and the rest is an excellent history and lesson in economics all could do well to understand as the root cause of todays' global economic problems.... explained in the form of a short essay.... full "rep-points" to the author...

 

[masalai]

Gold storage delima for usanians? one suggestion ? here http://financialsense.com/editorials/casey/2009/0618.html but I feel the better option is to buy the ACTUAL metal (US$50000 minimum start up account) and about as safe as one can find anywhere http://www.perthmint.com.au/investment.aspx and read through all the links :-
Investing in Gold
Investing in Gold
Investing in Precious Metals
Government Guarantee
Allocated & Un-allocated Storage
FAQ's
Precious Metal Prices
Contact Us
Certificate Programs
Bullion Bars and Coins
Depository Services
Perth Mint Gold (ASX)

The staff are very helpful and the process is easy and secure... I use it....

 

[masalai]

and this for Boston & friends http://financialsense.com/Market/wrapup.htm and you may like to park some of your money offshore, in bullion? (the actual stuff), not just a piece of paper with no real gold or affirming sole ownership of that piece of gold...

 

[Boston]

round here we call that gold fever Mas

 

[masalai]

Gold fever is when you inspect your fingernails after picking your nose and EXPECT to see the glint of GOLD