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Cesarnc's market talk, gossips, rumours & fun

  • #5,921
  • Mar 4, 2008 8:43am Mar 4, 2008 8:43am
o by the way canadians wants to sell cheap oil,...
its just money
  • #5,922
  • Mar 4, 2008 8:43am Mar 4, 2008 8:43am
Quoting Big Wave Rider
Let's send them to Iraq instead. Bring home the soldiers and send over the criminals.
Ditto for me.....

HOLLA
  • #5,923
  • Mar 4, 2008 8:45am Mar 4, 2008 8:45am
Quoting cesarnc
March 4 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, battling the worst housing recession in a quarter century, urged lenders to forgive portions of mortgages held by homeowners at risk of defaulting.
``Efforts by both government and private-sector entities to reduce unnecessary foreclosures are helping, but more can, and should, be done,'' Bernanke said in a speech to bankers in Orlando, Florida, today. ``Principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure.''


This guy is a joke


Dow gonna lose the 12k this week, as it sounds...
He'll say anything to make the market move.......Wall Street gets what they ask for, maybe a little too much eh.

HOLLA
  • #5,924
  • Mar 4, 2008 9:33am Mar 4, 2008 9:33am
Quoting Ash
Yen carry trade crosses.


Thank you Mr. Bernanke!


English is not my primary language... did the guy just said that lenders should forgive part of the debt?



Am I too late to buy a house there? You know someone that can forgive me a good part afterwards? Closest to 100% wins the bid
  • #5,925
  • Mar 4, 2008 9:47am Mar 4, 2008 9:47am
Quoting branco
English is not my primary language... did the guy just said that lenders should forgive part of the debt?



Am I too late to buy a house there? You know someone that can forgive me a good part afterwards? Closest to 100% wins the bid
I was reading an article last night about home builders in California selling homes for upto 80% less than the list price. I had one guy offering me $15,000.00 to buy his home. That's how bad it is.
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  • #5,926
  • Mar 4, 2008 9:51am Mar 4, 2008 9:51am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
Let's send them to Iraq instead. Bring home the soldiers and send over the criminals.
probably better shots and if we tell them they can keep what they take from any armed terrorist, it'll be over in a month.
  • #5,927
  • Mar 4, 2008 9:54am Mar 4, 2008 9:54am
Quoting branco
English is not my primary language... did the guy just said that lenders should forgive part of the debt?
He said "should forgive". The market heard "should forget"
  • #5,928
  • Mar 4, 2008 10:04am Mar 4, 2008 10:04am
Fahgetaboubit!! Who knew. :
  • #5,929
  • Mar 4, 2008 10:09am Mar 4, 2008 10:09am
For all the desert warriors the Eagles wrote - Long Road Out of Eden

Moon shining down through the palms
Shadows moving on the sand
Somebody whispering the twenty-third Psalm
Dusty rifle in his trembling hands
Somebody trying just to stay alive
He got promises to keep
Over the ocean in America
Far away and fast asleep.

Silent stars blinking in the blackness of an endless sky
Cold silver satellites, ghostly caravans passing by
Galaxies unfolding; new worlds being born
Pilgrims and prodigals creeping toward the dawn
But it's a long road out of Eden.

Music blasting from an SUV
On a bright and sunny day
Rolling down the interstate
In the good ol' USA
Having lunch at the petroleum club
Smoking fine cigars and swapping lies
"Gimme 'nother slice of that barbecued brisket!"
"Gimme 'nother piece of that pecan pie"

Freeways flickering, cell phones chiming a tune
We're riding to Utopia; road map says we'll be arriving soon
Captains of the old order clinging to the reins
Assuring us these aches inside are only growing pains
But it's a long road out of Eden

Back home, I was so certain; the path was very clear
But now I have to wonder - what are we doing here?
I'm not counting on tomorrow and I can't tell wrong from right
But I'd give anything to be there in your arms tonight

Weaving down the American highway
Through the litter and the wreckage, and the cultural junk
Bloated with entitlement, loaded on propaganda
Now we're driving dazed and drunk

Went down the road to Damascus, the road to Mandalay
Met the ghost of Caesar on the Appian Way
He said, "It's hard to stop this bingeing once you get a taste
But the road to empire is a bloody, stupid waste"

Behold the bitten apple - the power of the tools
But all the knowledge in the world is of no use to fools
And it's a long road out of Eden
  • #5,930
  • Mar 4, 2008 10:41am Mar 4, 2008 10:41am
Quoting SunTrader
For all the desert warriors the Eagles wrote - Long Road Out of Eden

Moon shining down through the palms
Shadows moving on the sand
Somebody whispering the twenty-third Psalm
Dusty rifle in his trembling hands
Somebody trying just to stay alive
He got promises to keep
Over the ocean in America
Far away and fast asleep.

Silent stars blinking in the blackness of an endless sky
Cold silver satellites, ghostly caravans passing by
Galaxies unfolding; new worlds being born
Pilgrims and prodigals creeping toward the dawn
But it's a long road out of Eden.

Music blasting from an SUV
On a bright and sunny day
Rolling down the interstate
In the good ol' USA
Having lunch at the petroleum club
Smoking fine cigars and swapping lies
"Gimme 'nother slice of that barbecued brisket!"
"Gimme 'nother piece of that pecan pie"

Freeways flickering, cell phones chiming a tune
We're riding to Utopia; road map says we'll be arriving soon
Captains of the old order clinging to the reins
Assuring us these aches inside are only growing pains
But it's a long road out of Eden

Back home, I was so certain; the path was very clear
But now I have to wonder - what are we doing here?
I'm not counting on tomorrow and I can't tell wrong from right
But I'd give anything to be there in your arms tonight

Weaving down the American highway
Through the litter and the wreckage, and the cultural junk
Bloated with entitlement, loaded on propaganda
Now we're driving dazed and drunk

Went down the road to Damascus, the road to Mandalay
Met the ghost of Caesar on the Appian Way
He said, "It's hard to stop this bingeing once you get a taste
But the road to empire is a bloody, stupid waste"

Behold the bitten apple - the power of the tools
But all the knowledge in the world is of no use to fools
And it's a long road out of Eden

Humble Lifetime Member
  • #5,931
  • Mar 4, 2008 12:04pm Mar 4, 2008 12:04pm
Tokyo warns over yen’s rapid rise
By Michiyo Nakamoto in Tokyo
Published: March 4 2008 17:33 | Last updated: March 4 2008 17:33

Japan’s finance and economy ministers on Tuesday expressed strong concerns about the yen’s rapid rise against the US dollar, warning that the currency’s sharp appreciation was hurting Japanese businesses.

“I am really concerned about the recent abnormal strengthening of the yen against the dollar,” Hiroko Ota, the economy minister, said. “We’re concerned about the effect that could have on corporate profits.’’

The yen has recently traded significantly above the average dollar exchange rate break-even level for Japanese exporters of Y106.60. It rose sharply on Monday to Y102.62, a level last reached in January 2005, and was at Y103 in early trading in New York on Tuesday.

Fukushiro Nukaga, the finance minister, said the government would “keep watching movements in ­foreign exchange rates from now on”.

The intervention by Japan’s senior economic officials followed comments on Monday by Yasuo Fukuda, the prime minister, who said he would keep a close eye on the yen’s appreciation.

Analysts do not expect the government to intervene in the short term because the yen’s appreciation also has the beneficial impact of lowering import prices.

According to government estimates, a 10 per cent rise in the yen against the dollar cuts total export gains by 0.8 per cent of gross domestic product but also reduces the total bill for imports by 1.1 per cent of GDP.

John Richards, head of research at Royal Bank of Scotland in Tokyo, said that if the yen continued to appreciate at a rapid pace, the chances of the Ministry of Finance intervening would rise. “As it goes to Y100 [to the dollar] over the next 6 months, the probability of intervention increases almost exponentially.

“Extreme yen strengthening will probably tip Japan into recession because we are so close to the edge anyway,” he said.

Katsuaki Watanabe, president of Toyota, said at the motor show in Geneva that “the appreciation of the yen makes it tougher to make a profit [but] Toyota will do what it can to minimise the impact”.

Toyota estimates that every Y1 rise in the value of the yen against the dollar shaves Y35bn ($340m, €224m, £171m) off its operating profits. Sony estimates a similar impact of Y6bn.

The Bank of Japan says that Japanese companies have assumed an average exchange rate of Y113 to the dollar in the second half of 2007, which implies that the sharp appreciation of the yen is likely to significantly dent forecast profits.

Japan’s currency also climbed 1.3 per cent to Y95.97 against the Australian dollar and 1 per cent to Y82.68 against the New ­Zealand dollar on Tuesday as credit-market losses prompted investors to reduce carry trades, in which funds borrowed in low interest rate currencies are reinvested in assets den­ominated in higher-earning currencies.

Japan’s benchmark interest rate of 0.5 per cent, the lowest among the industrialised nations, compares with 8.25 per cent in New Zealand and 4 per cent in the eurozone.

The stronger yen also bodes ill for Japanese equity prices because there is a strong correlation between the yen’s appreciation and the stock market’s decline. The benchmark Nikkei average fell 4.5 per cent on Monday as the yen rose to the three-year high of Y102.62.


Copyright The Financial Times Limited 2008
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  • #5,932
  • Mar 4, 2008 12:07pm Mar 4, 2008 12:07pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Ash
Tokyo warns over yen’s rapid rise
By Michiyo Nakamoto in Tokyo
Published: March 4 2008 17:33 | Last updated: March 4 2008 17:33


Copyright The Financial Times Limited 2008
in english this means what - they want the UJ to move back up? hope so soon.
  • #5,933
  • Mar 4, 2008 12:09pm Mar 4, 2008 12:09pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting SunTrader
For all the desert warriors the Eagles wrote - Long Road Out of Eden


Went down the road to Damascus, the road to Mandalay
Met the ghost of Caesar on the Appian Way
He said, "It's hard to stop this bingeing once you get a taste
But the road to empire is a bloody, stupid waste"

Behold the bitten apple - the power of the tools
But all the knowledge in the world is of no use to fools
And it's a long road out of Eden
  • #5,934
  • Mar 4, 2008 12:09pm Mar 4, 2008 12:09pm
WTF just happened? S&P jumped 10 points? Can't find anything on the newswires.
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  • #5,935
  • Mar 4, 2008 12:19pm Mar 4, 2008 12:19pm
Quoting Ash
WTF just happened? S&P jumped 10 points? Can't find anything on the newswires.
Cisco.
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  • #5,936
  • Mar 4, 2008 12:56pm Mar 4, 2008 12:56pm
and Ambac:

NEW YORK (Reuters) - Stocks sharply trimmed losses and the Nasdaq briefly turned positive as traders cited talk that a bailout of bond insurer Ambac Financial Group Inc (ABK.N) was imminent, easing concerns about the financial sector.

In addition, Cisco Systems Inc (CSCO.O) said it expected the economy's problems to be short-lived.
"There are rumors about Ambac's bailout possibly happening today and that really caused some significant buying, both long and short, in the financials," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles,
  • #5,937
  • Mar 4, 2008 1:05pm Mar 4, 2008 1:05pm
Quoting SunTrader
and Ambac:

NEW YORK (Reuters) - Stocks sharply trimmed losses and the Nasdaq briefly turned positive as traders cited talk that a bailout of bond insurer Ambac Financial Group Inc (ABK.N) was imminent, easing concerns about the financial sector.

In addition, Cisco Systems Inc (CSCO.O) said it expected the economy's problems to be short-lived.
"There are rumors about Ambac's bailout possibly happening today and that really caused some significant buying, both long and short, in the financials," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles,
Thanks!

Ambac Talks Continue, Though No Deal Yet

BOND INSURERS, CREDIT RATING, AMBAC
By Charles Gasparino,

On-Air Editor
CNBC.com
| 04 Mar 2008 | 03:54 PM ET


Ambac Financial Group shares rose sharply on speculation that the troubled bond insurer was close to working out a rescue plan with a group of banks.
Although talks are continuing, no deal has been reached yet, according to people familiar with the matter.

Like other bond insurers, Ambac is in danger of losing its critical triple A debt rating unless it raises enough capital to offset billions of dollars in losses from risky subprime related debt.

As first reported by CNBC, the bailout effort ran into trouble last week when the bond rating agencies said they wanted to see more capital injected into the bond insurer. A consortium of banks had already agreed to come up with $2.5 billion in capital.

The banks are willing to consider leaving the bond insurer with just a single "triple-A" credit rating, according to people involved in the deal. In the past, the bank consortium had wanted two triple-A ratings to underwrite new business.

People close to the proposed bailout remain confident a deal will still happen. Banks and the rating agencies are aware that if Ambac collapses, it would trigger another wave of panic in debt markets and send the stock market reeling.


2008 CNBC.com
URL: http://www.cnbc.com/id/23465949/
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  • #5,938
  • Mar 4, 2008 1:07pm Mar 4, 2008 1:07pm
Quoting MPP
in english this means what - they want the UJ to move back up? hope so soon.
Yes, they want the Yen to weaken. Yen weakens, their exports are cheaper, more profits for their companies such as Sony, Toyota, etc...
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  • #5,939
  • Mar 4, 2008 1:28pm Mar 4, 2008 1:28pm
@Ambac. These Ambac "alleged deal" rumours remind me of the guy who always claimed he had a g/f and when you asked where she lived he'd say "she doesn't live here".
Patience + Humility + Study = Success
  • #5,940
  • Edited 1:36pm Mar 4, 2008 1:33pm | Edited 1:36pm
Quoting DutchTrader
@Ambac. These Ambac "alleged deal" rumours remind me of the guy who always claimed he had a g/f and when you asked where she lived he'd say "she doesn't live here".
She probably lived in his imaginary world.

Ok, S&P and the DOW ended in negative territory. Commodities are taking a breather. I expect some selloff during the Asian session as they read through most of the BS (after billions were lost by day traders / J housewives last August due to the sub-prime / carry trade unwind).

Oh yeah, read today that the Fed is also looking at credit cards, the next threat to the economy. Wonder what are they going to come up with? 0% for the next five years for those who paid on time for the last six months?
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