Rising Euro
Dec 16th, 2008 | 11:41 AM
#41
Joined: Feb 2003
Posts: 154
Likes: 0
I knew the Euro was going to be going up and rather quickly. How did I know this? When I planned our trip to Italy last month, the Euro was $1.27. It would rise quickly because my family is going and that is the way our luck has been running lately!
Dec 16th, 2008 | 12:04 PM
#44
Joined: Feb 2003
Posts: 3,977
Likes: 0
It's not surprising that rising Euro costs bring out the "know-it-all" types who haunted this board months ago. Chicken Little said "The sky is falling" and on and on and on.
Look. The Federal Reserve today said that it will take all measures it can to avoid deflation. Sounds like a simple statement. But it means that we are cranking up the printing presses, the Government is the buyer and lender of last resort, the big Wall Street banks are sitting on their assets and not lending either a dollar or a hand, and the European Central Bank continues its fight against inflation, the last thing it should be doing. Mrs. Merkel is playing ox in the ditch, denying that Germany has a problem while all around her economies (including her own) are sinking. Bernie Madoff caught a lot of rich people in America and Europe with their pants down and his hands in their pockets. Big surprise!
My advice: never bet against the dollar.
Look. The Federal Reserve today said that it will take all measures it can to avoid deflation. Sounds like a simple statement. But it means that we are cranking up the printing presses, the Government is the buyer and lender of last resort, the big Wall Street banks are sitting on their assets and not lending either a dollar or a hand, and the European Central Bank continues its fight against inflation, the last thing it should be doing. Mrs. Merkel is playing ox in the ditch, denying that Germany has a problem while all around her economies (including her own) are sinking. Bernie Madoff caught a lot of rich people in America and Europe with their pants down and his hands in their pockets. Big surprise!
My advice: never bet against the dollar.
Dec 16th, 2008 | 12:33 PM
#47
Joined: Feb 2005
Posts: 9,016
Likes: 0
>California Cabernet 
@locoboatkey
You need to export more of the stuff!
Must be one of the last things left to export
(except for guns of course).
The fed isn't even slightly aware of what it is doing. Going to be an interesting experiment. As a foreigner, where can I apply for free money?
@locoboatkey
You need to export more of the stuff!
Must be one of the last things left to export
(except for guns of course). The fed isn't even slightly aware of what it is doing. Going to be an interesting experiment. As a foreigner, where can I apply for free money?
Dec 16th, 2008 | 01:53 PM
#51
Original Poster
Joined: Jan 2003
Posts: 74,699
Likes: 0
So, the Discount rate is now about 1/4 %.
The Fed can't do anything more in that arena.
It has now decided to buy more of the toxic mortgages, which is what the banks want.
The banks won;t get off their assets until Treasury decides to buy all of their toxic loans - several trillion dollars worth.
Meanwhile, no one in this administration or the incoming administration is interested in the FDIC HOP plan - which helps the homeowners more than it helps the banks.
As noted, the Fed will probably increase the money supply in order to prevent deflation.
It won't do a bit of good for you and me if the banks won't loan the money out.
It will make the bankers richer, though.
The Fed can't do anything more in that arena.
It has now decided to buy more of the toxic mortgages, which is what the banks want.
The banks won;t get off their assets until Treasury decides to buy all of their toxic loans - several trillion dollars worth.
Meanwhile, no one in this administration or the incoming administration is interested in the FDIC HOP plan - which helps the homeowners more than it helps the banks.
As noted, the Fed will probably increase the money supply in order to prevent deflation.
It won't do a bit of good for you and me if the banks won't loan the money out.
It will make the bankers richer, though.
Dec 16th, 2008 | 02:26 PM
#53
Joined: Nov 2007
Posts: 2,082
Likes: 0
loco999....No, I like to see Cabernet "for Export" my daily regular is Vino Rosso di Montalcino, and a fine Brunello for more special dining. When we are at our place in Abruzzo, which is now less frequent than I prefer, it is only local montipulciano di Abruzzo, from a friend's production.
Dec 16th, 2008 | 02:48 PM
#55
Joined: Feb 2005
Posts: 9,016
Likes: 0
> it is only local montepulciano di Abruzzo, from a friend's production.
A wise choice indeed!
>Va jouer dans le trafic!
Hé bien, tu pense que c'est pas la vérité, seulement parce que tu ne compreds rien. Tu te trompes ma chérie.
Tu vas perdre tout ton argent, si tu ne fais rien! Mais, peut-être tu n'as rien à perdre?
A wise choice indeed!
>Va jouer dans le trafic!
Hé bien, tu pense que c'est pas la vérité, seulement parce que tu ne compreds rien. Tu te trompes ma chérie.
Tu vas perdre tout ton argent, si tu ne fais rien! Mais, peut-être tu n'as rien à perdre?
Dec 16th, 2008 | 03:28 PM
#57
Joined: Feb 2005
Posts: 9,016
Likes: 0
>Va t'en. Ne reviens pas!
Comment? Toujours la même chose avec toi, travelme, toujours!
N'aucune idée de la question mais tu as toujours raison, et les autres ne savent rien.
Tu est comme ça dans la vie?
Comment? Toujours la même chose avec toi, travelme, toujours!
N'aucune idée de la question mais tu as toujours raison, et les autres ne savent rien.
Tu est comme ça dans la vie?
