Cable Update (GBPUSD)
This could be the most boring interest rate day in history..
Yawnnn...
:
Dollar weakness is expected to continue until spring next year, With the housing slump and weaker consumer confidence the only thing that is pushing the economy is the weak dollar. I dont think the fed is going to allow the dollar to gain any strength, if it does then that would be the collapse of the economy. This is a fact not an opinion.
Americans are so (stupid) far in debt that they cant spend any money for the next few years because of their inability to understand how intrest rates work and how just because your credit card or bank says you can go out and spend $250,000 even though you make $50,000 a year, do you get what I am saying? Do you follow me here? The U.S economy has been surviving on credit for a long time now and that time is over and guess what? Nobody has any money left because they have so many bills from trying to keep up with the Jones even though they earn blacksmith wages. The U.S economy is hanging by a thread and nobody (experts) will admit it yet because they want to continue with this reckless spending as long as possible. Guess what? The good times are over.
Bye, bye dollar. Thats the only thing that can help this economy.
In the last 8 years the max 1 day movement was 439 pips (since 1999.09.14)
Ddue, are you sure you came back from a ski holiday? You're too stressed out - somethings not right
In America, "next friday" means next week's friday, "this friday" means the coming one/this week. Sorry for the confusion. My bad.
2.100 for this friday
Hey it's the end of the week and it looks like I'm gonna lose money after a fantastic september. I have a right to make outrageous predictions.
If blah blah happens then the blah blah currency will move in the blah blah direction blah blah amount otherise it will move in the blah blah direction blah blah amount and blah bla h will make/loose blah blah amount...
You should start your own analysis firm. That was great, we could all profit from this and the best part is you are providing this expert analysis for free.
Hey guys I'm back, Had a great time up in the alps, All the trees are turning, the weather was great and best of all I didnt lose any money.
So now I am back with a clear head and ready to make profit again.
Dollar weakness is expected to continue until spring next year, With the housing slump and weaker consumer confidence the only thing that is pushing the economy is the weak dollar. I dont think the fed is going to allow the dollar to gain any strength, if it does then that would be the collapse of the economy. This is a fact not an opinion.
Americans are so (stupid) far in debt that they cant spend any money for the next few years because of their inability to understand how intrest rates work and how just because your credit card or bank says you can go out and spend $250,000 even though you make $50,000 a year, do you get what I am saying? Do you follow me here? The U.S economy has been surviving on credit for a long time now and that time is over and guess what? Nobody has any money left because they have so many bills from trying to keep up with the Jones even though they earn blacksmith wages. The U.S economy is hanging by a thread and nobody (experts) will admit it yet because they want to continue with this reckless spending as long as possible. Guess what? The good times are over.
Bye, bye dollar. Thats the only thing that can help this economy.
Not to argue dollar direction one way or another (although I agree with you), I would just like to mention that not everyone is in debt because of reckless spending and keeping up with the Jones.
There's us little people, too, who ended up going into debt up to (and over) our necks just trying to survive.
Take me, for example - up until a while ago, I taught high school. Average salary for a teacher - $36k a year. Take out the taxes, and then take out what few people know about in regards to teacher salaries - mandatory deductions for professional dues, union dues, etc etc etc (plus your regular retirement etc) - total take home pay end us being about 55% of your paycheck, or $19800 a year.
We are talking a skilled professional with a Master's degree, and fully credentialed by the State of California.
Now, look at the cost of living in Northern California, right outside San Francisco - average rent for a 2 br apartment where I am is about $1200, $1600 for a shack in a questionable neighborhood. Add utilities, food, basic necessities. Add gas, considering that I have to drive 12 miles to work (and back), and have no option of taking public transportation (there's none). Finally, add to that student loans I accumulated trying to get to this highly coveted salary
Forget any 'joys of life', entertainment or dining out - we gave that up circa 2002. Hairdressers, manicures, facials? Yah right!
Oh, and don't forget any out-of-ordinary expenses - the ER bill I just got for my little Boho-vs-bee encounter is a few hundred $$$ higher than my entire former take-home pay! (had I actually been working in the school system, my insurance would have covered 60% of it, leaving me with a balance of about half of my take-home pay to pay out of pocket!)
Now, consider my best friend, who's a principal of an elementary school, and as such, makes about $65k a year - same deductions, same basic cost of living, twice the student loans, and 2 teenage girls (and a dead-beat dad, unfortunately).
Btw, as school employees, we used to have 100% med, plus 80% of dependent coverage; enter The Terminator, and we now have 50% for self, and 0% dependent, with the option to pay out of pocket (it's $565 for my friend's daughters, with $50 office visit co-pay, and no dental)
Sooo... How are we supposed to survive without going into debt?
I know a lot of people are in trouble because of frivolous spending, monstrous SUVs and Hummers, 60-inch plasma TVs, etc, but, honestly, the great majority of us are in debt simply because we had no other choice (well, other than moving to Honduras or Uganda, where we wouldn't be able to get a job anyways, so same difference).
Something's definitely got to give, and whichever way you slice it, it's not going to be pretty for the dollar
EDIT: lol, I guess I did end up passing judgment on the direction of the dollar
I know all to well, When I first moved to Switzerland I was like "holy crap, I can actually save and invest instead of living pay check to pay check"
Ask uncle sam how much security guards in Iraq are making compared to teachers. The whole situation in america makes me sick, which is why I live in Switzerland. Your right, something has to give and it wont be pretty. A new revolution might bring about a change.
)
Not to argue dollar direction one way or another (although I agree with you), I would just like to mention that not everyone is in debt because of reckless spending and keeping up with the Jones.
There's us little people, too, who ended up going into debt up to (and over) our necks just trying to survive.
Take me, for example - up until a while ago, I taught high school. Average salary for a teacher - $36k a year. Take out the taxes, and then take out what few people know about in regards to teacher salaries - mandatory deductions for professional dues, union dues, etc etc etc (plus your regular retirement etc) - total take home pay end us being about 55% of your paycheck, or $19800 a year.
We are talking a skilled professional with a Master's degree, and fully credentialed by the State of California.
Now, look at the cost of living in Northern California, right outside San Francisco - average rent for a 2 br apartment where I am is about $1200, $1600 for a shack in a questionable neighborhood. Add utilities, food, basic necessities. Add gas, considering that I have to drive 12 miles to work (and back), and have no option of taking public transportation (there's none). Finally, add to that student loans I accumulated trying to get to this highly coveted salary
Forget any 'joys of life', entertainment or dining out - we gave that up circa 2002. Hairdressers, manicures, facials? Yah right!
Oh, and don't forget any out-of-ordinary expenses - the ER bill I just got for my little Boho-vs-bee encounter is a few hundred $$$ higher than my entire former take-home pay! (had I actually been working in the school system, my insurance would have covered 60% of it, leaving me with a balance of about half of my take-home pay to pay out of pocket!)
Now, consider my best friend, who's a principal of an elementary school, and as such, makes about $65k a year - same deductions, same basic cost of living, twice the student loans, and 2 teenage girls (and a dead-beat dad, unfortunately).
Btw, as school employees, we used to have 100% med, plus 80% of dependent coverage; enter The Terminator, and we now have 50% for self, and 0% dependent, with the option to pay out of pocket (it's $565 for my friend's daughters, with $50 office visit co-pay, and no dental)
Sooo... How are we supposed to survive without going into debt?
I know a lot of people are in trouble because of frivolous spending, monstrous SUVs and Hummers, 60-inch plasma TVs, etc, but, honestly, the great majority of us are in debt simply because we had no other choice (well, other than moving to Honduras or Uganda, where we wouldn't be able to get a job anyways, so same difference).
Something's definitely got to give, and whichever way you slice it, it's not going to be pretty for the dollar
EDIT: lol, I guess I did end up passing judgment on the direction of the dollar
I don't know about security guards, but I know about bottom-of-the-barrel cooks (not even chefs - I'm talking prep-cooks), and it makes me want to throw up
(of course, the food is too expensive here in Cali to be wasted on getting sick to one's stomach, so I try not to think about it
