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  • #248,241
  • May 26, 2010 4:21pm May 26, 2010 4:21pm
Question: why is it so bad that the ECB decides to buy bad debt from it's weaker countries, if the FED did the same by buying the toxic CDS from the American banks?
  • #248,242
  • May 26, 2010 4:24pm May 26, 2010 4:24pm
Quoting minosd
Question: why is it so bad that the ECB decides to buy bad debt from it's weaker countries, if the FED did the same by buying the toxic CDS from the American banks?
Because the American CDS are made up of American homes and working Americans. The ECB would be buying Greek real estate (worthless) and a population of unemployed or pension Greeks.
Si vis pacem, para bellum.
  • #248,243
  • May 26, 2010 4:24pm May 26, 2010 4:24pm
Quoting AmeriTrini
Dont compare greece to the United States or the United Kingdom, PLEASE!!!
can we compare USSR to US and UK? everything is possible
  • #248,244
  • May 26, 2010 4:24pm May 26, 2010 4:24pm
Quoting minosd
I think it's a mistake to underestimate the breeding capacities of europeans: here in Belgium for example the media has been saying for a long time we will have a big problem with ageing population around 2030, but what i see around me is different. There is immigration also like everywhere and the numbers of baby's/mother is also growing fast since a few years (there never have been so many kindergartens in belgium and we still miss hundreds)...and even if we get to a population that's older then the rest of the world, i'm sure by then we will...
if they are not in the workforce paying taxes then they are milking the system.. even the kindergartens. maybe in 12 years they will (too late). as far as i know robots are not paying taxes to support retires.. correct me if i am wrong.
those who can, do. those who cant, talk about those who can
  • #248,245
  • May 26, 2010 4:25pm May 26, 2010 4:25pm
Quoting gatorinla
yeah exactly.. so whats left over to support your exports.. shit runs down hill. don't omit Asia has taken your market share. it was pumped up ridding the coattails of commodities not on merit. now you print, so the merit you had is lost. you dont have commodities you do have failed banking and loss of industrial market share. you population ages each day.. you dont breed enough to keep the ponzi scheme going. you owe more then you take in.
both are in a bad position but unlike many u.s. is the consumer.. but we can make all we consume if we want....
unfortunately that's the situation in europe

Greece not able to payback

voices are heard from eu parliament: 750 not enough - need 2 trillion Euro

Spain owes 550 billion Euro to European banks,160 bill. alone in Germany

etc.
  • #248,246
  • May 26, 2010 4:25pm May 26, 2010 4:25pm
Quoting AmeriTrini
Dont compare greece to the United States or the United Kingdom, PLEASE!!!
Yeah, a better comparison would be a SINGLE STATE. such as CA(where I live)

The thing is, if CA gets in serious trouble and it becomes an issue...the first market close they will come up with something to prevent panic. EZ didn't do this, they waited to long this part of the big issue..if they would have supplied Greece with say 25-50 billion 6 months ago(when Greece said, 'we don't/won't need anything")...it would have been completely different imo.

Instead, they argue in public and bash each other.

You don't hear Alaska's governor on TV talking about California's debt issues and how if asked they're people would NOT want to help...in Europe however, this is the case or had been for a few months. This causes panic, that's why so many people have already pulled their money out of Greek banks.
  • #248,247
  • May 26, 2010 4:27pm May 26, 2010 4:27pm
Quoting uraceulose
You're right, we are talking about the near future though or at least I am(2-5 years). The US has major issues. Right now, the biggest MAJOR ISSUE is Europe.
Keep in mind everything the US still has left in it's bag of tricks to stave off a dollar collapse..raise rates, stop buying debt, China peg...not that it'll pay off 13 trillion but it doesn't have to.
We don't retire some of us now until 65-70. social security don't pay till like 62 or 65...what are they pulling for in Europe 50 on both? Who's gonna work/build stuff to pay these guys promised...
no: in europe most of the people retire between 60 and 67, Belgium it's 65, Germany also, france 60, can you imagine in France they work 35 hours a week, not more, but the productivity is high, that's why they can still keep up good with the rest of the world..we have tricks too
some thoughts: if you raise interest you will slow down the economy, stop buying debt, china will
  • #248,248
  • May 26, 2010 4:27pm May 26, 2010 4:27pm
Quoting AmeriTrini
Dont compare greece to the United States or the United Kingdom, PLEASE!!!
You are right - The debt problem in US and UK is worse than in Greece
  • #248,249
  • May 26, 2010 4:33pm May 26, 2010 4:33pm
Quoting AmeriTrini
Dont compare greece to the United States or the United Kingdom, PLEASE!!!
+1
  • #248,250
  • May 26, 2010 4:35pm May 26, 2010 4:35pm
Quoting mokonni
unfortunately that's the situation in europe

Greece not able to payback

voices are heard from eu parliament: 750 not enough - need 2 trillion Euro

Spain owes 550 billion Euro to European banks,160 bill. alone in Germany

etc.
don'tforget Greece paper is held mostly by french and German banks.. dont omit these amounts. when stating what is owed by the individual countries.
If French or German banks fail the country picks up the tab. They can play shell games all they want. They are all bankrupt.. They print against their own ez charter illegally to prevent panic.
those who can, do. those who cant, talk about those who can
  • #248,251
  • May 26, 2010 4:37pm May 26, 2010 4:37pm
Quoting mokonni
You are right - The debt problem in US and UK is worse than in Greece
ok but the 3000 pips i got say your full of shit.
those who can, do. those who cant, talk about those who can
  • #248,252
  • May 26, 2010 4:38pm May 26, 2010 4:38pm
Quoting AmeriTrini
Dont compare greece to the United States or the United Kingdom, PLEASE!!!
You are right, food and quality of life is far better in Greece!!
  • #248,253
  • May 26, 2010 4:38pm May 26, 2010 4:38pm
i see someone else noticed the possibility of a double bottom... RSI and MACD are mildy pointing upwards... PA never hit my entry sell earlier, no where near in fact...
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  • #248,254
  • May 26, 2010 4:39pm May 26, 2010 4:39pm
Quoting minosd
Question: why is it so bad that the ECB decides to buy bad debt from it's weaker countries, if the FED did the same by buying the toxic CDS from the American banks?
Cause EUR is not a world currency/safe haven.
EUR will collapse. If they print money they devalue the EURO, if they won't then the PIGS countries will default. Either way you look at it it is about to collapse.
  • #248,255
  • May 26, 2010 4:43pm May 26, 2010 4:43pm
Quoting gatorinla
yeah exactly.. so whats left over to support your exports.. shit runs down hill. don't omit Asia has taken your market share. it was pumped up ridding the coattails of commodities not on merit. now you print, so the merit you had is lost. you dont have commodities you do have failed banking and loss of industrial market share. you population ages each day.. you dont breed enough to keep the ponzi scheme going. you owe more then you take in.
both are in a bad position but unlike many u.s. is the consumer.. but we can make all we consume if we want....
yes sir. I don't know if it could of been summed up better in one paragraph as you just did. BTW, look at the weekly/monthly chart now. Looks like the tip of an iceberg doesn't it? The only thing that could save euro as we know it today is the US economy improving, hence increase in US consumer spending, AND devaluing euro below 1:1.
  • #248,256
  • May 26, 2010 4:50pm May 26, 2010 4:50pm
looks like theyre trying to take out those stops below the 50....below that id imagine 2000 barrier is rather large and bids will probably try to defend it around 2030....ill take some profit if and when we get there.
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  • #248,257
  • May 26, 2010 4:50pm May 26, 2010 4:50pm
looks like it will test 1.2143. the daily low of may 18. we have broken yesterdays daily low also.
  • #248,258
  • May 26, 2010 4:50pm May 26, 2010 4:50pm
This is headed to 1.2000
  • #248,259
  • May 26, 2010 4:54pm May 26, 2010 4:54pm
Price getting close now. Anyone else think it seems weird to form a new bottom during low volume after hours trading? Maybe some Jrs. fell asleep at the trading desk?
  • #248,260
  • May 26, 2010 4:55pm May 26, 2010 4:55pm
Quoting gatorinla
ok but the 3000 pips i got say your full of shit.
yes,yes,yes 3000 pips- I know a women who has much more fat...

Fyi
Saving quotes in % of income.

German seniors alone have 4 trillion.....you lived too many years on pump - excessive - didn't you ???

And now even the US citizens begin to save money and won't spend that what your economy needs
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