Some one has to start it, Americas default.

Discussion in 'All Things Boats & Boating' started by Frosty, Jul 29, 2011.

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  1. WestVanHan
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    WestVanHan Not a Senior Member

    If CME seized accounts due to raising any margin after the fact it would be illegal and,seeing as they survive by having traders trade, would be out of business in a day after everyone moved the metal accounts to HK,Dubai, or London.
     
    Last edited: Nov 6, 2011
  2. bntii
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    bntii Senior Member

    Cash is everywhere and cheap right now (even in the states). It's just not moving too fast in this downturn.

    http://economix.blogs.nytimes.com/2010/09/17/companies-still-hoarding-tons-of-cash/


    Exactly right- somewhere I have a quote from the 1760's about the spread of confidence being far more important than the spread of cash.

    Businesses have cash. Confidence is returning to business as growth is seen in many.

    In my small way I continue to invest in the business. I buy materials, tooling and machinery and am expanding.
     
  3. CatBuilder

    CatBuilder Previous Member

    We think alike.

    The moment the big recession hit, I decided to double down and invest quite a bit in my charter business.

    We sold the last boat just after the recession started (when housing was crashing, but when boats were still selling easily - sold for the same amount I paid for it). I then took those proceeds and invested that money, plus a whole lot of time in this new charter boat.

    My thinking was: Build it out during the recession to get good prices on labor and materials while everyone else is not buying them. Also, we'll have a brand new charter boat ready for business just as the recession comes to an end. (in a couple more years)

    Secrets be told, this was my market move, since there was no good or safe commodity or securities investment that would pay off as much. The boat (asset) was also a hedge against the falling dollar.
     
  4. WestVanHan
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    WestVanHan Not a Senior Member

    My interpretation of the first news release was that CME was matching the maintenance to the initial and that it was of little consequence.

    But zerohedge goes out and posts all this stuff about traders having their accounts seized etc when they of all people should know it could not happen.
    Were they just trying to sensationalize a minor event to get more readers?

    At any rate,despite their having done a couple good things,all they'e done with their douchebaggery is get thousands of small traders panicked into thinking they were in deep trouble....and that's not limited to just this one article.

    And they never use their actual names while posting...which makes me doubt that any of them have traded or have any credentials.
     
  5. troy2000
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    troy2000 Senior Member

    My plans have changed dramatically. Once upon a time, i figured my contracting business was my security and my retirement fund, but that was before Reagan deregulated the Savings& Loans and the sharks ran wild -- including Neil Bush. The resultant clamp-down destroyed construction for several years as building loans dried up. Sound familiar? It's somewhat akin to the current crisis....

    Now my plans are to retire on a pension from the gas company I work for, add Social Security to it, and start looking around for ways to stay busy if I need more money. Handyman work actually pays pretty well once you get a reputation, especially in retirement communities.

    Not very lofty goals, I'll admit. But I've never been super-ambitious. Even when my contracting was bringing in a good living, I was still mostly doing it just because I was having fun.
     
  6. powerabout
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    powerabout Senior Member

    I love the question on one of the visa forms to enter the US
    "Did you give up US citizenship to avoid taxation"
    must be a tidal wave of people leaving I guess and then coming back for a holiday?
     
  7. bntii
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    bntii Senior Member

    Papandreou out, unity government to be formed:

    "Greek Prime Minister George Papandreou agreed to step down to allow the creation of a national unity government that will secure international financing and avert a collapse of the country’s economy"

    http://www.bloomberg.com/news/2011-...id-hits-resistance-as-crisis-talks-begin.html


    And eyes shift to the next boogyman:

    European markets Shift focus from Greece to Italy

    "Even as Greece reached an agreement on Sunday to form a coalition government meant to avert the collapse of the latest bailout plan for the euro zone, investors are still demanding greater certainty on how Europe would pay for a rescue package aimed at stopping the Greek financial contagion from spreading to Italy or Spain."

    “This is a bit of a sideshow,” Mark D. Luschini, chief strategist at Janney Montgomery Scott, said of the shifting political leadership in Greece. “Markets will react favorably to this, but they won’t rally hard on the news. Italy is the bigger issue.”

    http://www.nytimes.com/2011/11/07/business/in-europe-anxious-market-shifts-focus-to-italy.html
     
  8. Frosty

    Frosty Previous Member

    Im concerend about Italy not wanting any assistance in its financial affairs. Typical proud Italians.

    But if they want money its a necessity. You dont just get free money without paper work --what are they thinking.

    Do you think the Suzie Orman show could help. She always reminds me of "Alf" you know that alien thing that looked like a dog.
     
  9. bntii
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    bntii Senior Member

  10. CatBuilder

    CatBuilder Previous Member

    That's funny, Frosty. I have the opposite taste. Italians are usually my favorite nationality to be with. They know how to live. In the states, the Italian Americans and the Irish Americans tend to seek each other out. In fact, I'm Irish descent and my wife is Italian descent. It's very common for the two to pair up here.
     
  11. Tug
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    Tug Junior Member

    I have a friend who is half Irish and half Scottish....
    When he drinks to much he ends up beating the crap outta himself....
    Cheers
    tug
     
  12. troy2000
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    troy2000 Senior Member

    Reminds me of a 1st class Bosun's Mate I knew back in the day. He'd been promoted on merit, then busted for going AWOL on drinking binges, so many times he'd lost count. Nowadays they'd get rid of him, but he was a good man when he was sober.

    Anyway, his explanation to me was, "well Troy, I'm half Irish and half Indian. Half of me can't stay away from the booze, and the other half can't handle it.
     
  13. Frosty

    Frosty Previous Member

    Ifeel sorry for catbuilder half Italian and half Irish geez, can you walk passed a Jewlers without throwing a brick through the window?

    Only thing worse that that is half German and French ---man--I have met one of those and belive me it is as bad as you coud immagine.
     
  14. CatBuilder

    CatBuilder Previous Member

    What? I'm not half Italian and half Irish. My kid would be, if I had one though. I'm Irish (descent and citizenship) 50% mixed with Norwegian.

    My wife is Italian mixed with Romanian. Not the gypsy type, the other type.

    I like Italian (and mixed with Romanian, I suppose) girls because they look like the picture I attached at the bottom. I have better ones of her, but they aren't suitable for the forum. ha ha ha :p Yes, this is the same person who made up the "You can't solve all of life's problems with epoxy" quote.

    What I was saying though, is that in the States, Irish and Italians are often a couple. It is very common, for some unknown reason.

    My wife and I are an example, but we won't be having a jewler's window, brick throwing brat. :)
     

  15. powerabout
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    powerabout Senior Member

    up my end of Italy they would call a Roman a North African as thats well south of the border
     
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