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post #21 of 60 (permalink) Old 10-06-2007, 12:06 AM
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Loonie breaks $1.02 U.S. as jobless rate tumbles

JULIAN BELTRAME

Canadian Press

October 5, 2007 at 6:18 PM EDT

The Canadian dollar defied gravity Friday, rising above $1.02 (U.S.) at one point, as the high-flying currency got additional lift from a report showing Canada's unemployment rate fell last month to the lowest level in 33 years.

It was a day of astonishing news for the Canadian economy, which had been expected to start feeling the pain from the summer subprime mortgage crisis in the United States that many thought would send shock waves rippling into in this country.
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post #22 of 60 (permalink) Old 10-06-2007, 01:19 PM Thread Starter
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Yes, I do mean $100 Trillion. The International Monetary Fund [img.org]estimates the current global Hedge/Derivatives funds to be capitalized at $10TrillionUS. When the LEVERAGING of these instruments starts being factored in [estimates of up to 38:1] the conservative 10:1 puts the at risk active worldwide Hedge/derivatives market which is heavily loaded with US mortgage paper near the $100Trillion number.

While the percentage of ACTUAL mortgage paper involved in the leveraged Hedge/derivatives market is not high, the bundling within portfolios means that the impacts of a collapsed mortgage market has a direct impact on the world's market.

You say that controls distort the market. YES! That is their sole task. But you are assuming that the market is otherwise free, which is far from true. Just this past six months the FED has poured over $400Billion into the financial sector to relieve pressure for this problem. They further dropped the Prime 1/2 point. Other World Banks have done the same [in fact they requested our FED to act].

I have been banging this SubPrime drum for two years. I think it is dumb to reward poor lending behavior HOWEVER that train has left the station. We now have a choice of fixing the problem with Federal money or watching the financial sector follow the housing sector into total collapse. Durable goods will follow that. IF we had strong FISCAL POLICY over the past six years, this could have been avoided but instead we tried to CHARGE ourselves into prosperity and it FAILED. Now we have an additional $5Trillion in National Debt AND a Housing/Mortgage market in ruins.
Well, I can say we see eye to eye on this issue. I watched 6 houses on the same street as mine in 2006 who were foreclosed on because their 5 year fixed then adjustable rate went sailing. They couldn't afford the extra money. You can't talk sense into someone when they have house fever.

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post #23 of 60 (permalink) Old 10-06-2007, 01:26 PM Thread Starter
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I think you missed my point. My point is that what you describe is just as true of someone who lost their house to flooding that didn't make the news (or the government handouts). If we're going to help people out, we should do it responsibly, and equitably, not just wherever there's a media event or political photo-op.
The sad fact is that our government (that means you and me and the rest of the taxpayers) is too busy subsidizing and aiding 2,000,000 additional illegal immigrants per year with free health care and other giveaway programs. What's even worse, 1/3 of them have bulging bellies with near full term babies that end up being born in our country, becoming 'legal' citizens and additional burdens on our system. And statistics show there are, on average, 2,000,000 more 'americans' without healthcare. I think if 'american' were redefined to mean legal residents, we'd probably see that number decline significantly. Meanwhile, the working class can't even get a glass of water when they need it.

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post #24 of 60 (permalink) Old 10-06-2007, 08:19 PM
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And the top-performing market-timing newsletters are all bullish just now.
What do you make of that?

MarketWatch: Best newsletters also most bullish
They make their money on churn. They are always bullish. I look at the Economists that have no skin in the game for the cleanest analysis.

Even looking at the CNBC talking heads. They get most of their revenue from firms that make their money off churn. They are happy as a lark to watch folks "work" the market. It doesn't matter to them if 7/10 sectors are red like they are now [and have been for most of the past 18 months]. The brokers are just pushing the churn.

Some folks that play the market are making good money but there are a lot more folks [many that don't do stocks or can't afford to] that are not making nut at this point than are.

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post #25 of 60 (permalink) Old 10-06-2007, 08:27 PM
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They make their money on churn. They are always bullish. I look at the Economists that have no skin in the game for the cleanest analysis.

Even looking at the CNBC talking heads. They get most of their revenue from firms that make their money off churn. They are happy as a lark to watch folks "work" the market. It doesn't matter to them if 7/10 sectors are red like they are now [and have been for most of the past 18 months]. The brokers are just pushing the churn.

Some folks that play the market are making good money but there are a lot more folks [many that don't do stocks or can't afford to] that are not making nut at this point than are.
But newsletters live off their records so they have incentives to get it rite.

Agree than CNBC and financial sites like marketwatch are stock peddlers. I have stopped
reading market watch posts.
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post #26 of 60 (permalink) Old 10-06-2007, 10:26 PM
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Well, I don't know if you read the article or not but the author made it clear that he considered only 10-year results in his determinations about which newsletters are the leaders. He specifically mentioned the dot.com bust as a way of sorting out 'stopped clocks' such as the terminally-bullish, as they would have bitten it in 2000-02.

Anyway, whenever there is a clear consensus such as this, I remember Mark Twain's dictum:
"Whenever you find yourself on the side of the majority, it is time to pause and reflect."
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post #27 of 60 (permalink) Old 10-07-2007, 12:04 AM
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Anyway, whenever there is a clear consensus such as this, I remember Mark Twain's dictum:
"Whenever you find yourself on the side of the majority, it is time to pause and reflect."
I usually find that if I am on the side of the majority I have managed to screw something up very very bad. Then it's pause and RUN.

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post #28 of 60 (permalink) Old 12-14-2007, 06:15 PM
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Agree than CNBC and financial sites like marketwatch are stock peddlers. I have stopped reading market watch posts.
Actually it seems to me that MarketWatch posts a lot of doomsaying lately. So what finance sites do you prefer for general information/commentary?
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post #29 of 60 (permalink) Old 12-14-2007, 07:16 PM
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Actually it seems to me that MarketWatch posts a lot of doomsaying lately. So what finance sites do you prefer for general information/commentary?
I have found that it is best FOR ME to read analysis of US markets that is from out of the country [for the most part]. That way most of the Political Spin is removed from it.

Financial Times [London] [ ft.com ] is a very good source for a European perspective as is japantimes.co.jp which gives a very good Pacific Rim perspective of the US markets.

I also read Bloomberg, WSJ, Economist, NYT and the London Times for extra data. I tend to use the really simple finance.yahoo.com to track both US markets and Euro and Pacific Rim markets as I play in them a bit also [bailing on SSEC soon however].

Regarding individual stocks, I read their reports online and do my own research. I get canned newsletters from several brokers who either do, or are trying to get some of my money but tend to look at that last.

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post #30 of 60 (permalink) Old 12-14-2007, 07:19 PM
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Sounds almost like wage and price controls, except that she's just "suggesting" it for now. How nice to get contracts changed whenever you change your mind about them...
Amen to that. If the suckers (I mean private citizens) can lose everything then so should the subprime lenders. F**king gummint bail-outs prevent dumb companies and dumb directors from losing everything. Golden parachute, hell. Let the bastards free-fall like everybody else.

The biggest problems we are facing right now have to do with George Bush trying to bring more and more power into the executive branch and not go through Congress at all and that’s what I intend to reverse.

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