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  • #687,481
  • Edited 2:24pm Sep 3, 2012 2:22pm | Edited 2:24pm
Quoting Layzars
They could not threaten the US and global economy out of partisan pettiness for starters. They ultimately backed down because they knew the consequences would be completely untenable if they refused to increase the ceiling.

Besides, Republicans have never cared much for fiscal responsibility and 'sanity' in spite of contemporary rhetoric (they still don't by the way; just look at the Romney/Ryan plan). It was pure politics, and about smearing the Democrats,...
So going on the same road now isn't going to ultimately harm the global economy even worse? Its time go cold turkey before its tool late. Austerity is going to be painful but how painful will austerity be when we are 20 trillion in debt? If they would have done the right thing and represented their constituents intentions to let he debt ceiling expire, it wouldn't of been politics. At least the Republicans present a budget which is the least that can be said for Harry Read. At least the Republicans present A plan like Ryan's medicare plan. Dems just support more the same old same old class warfare thuggery. Just raise taxes on the rich as if the government doesn't have a reputation of spending more than it takes in.
The trend is my friend? The world casino is my friend!
  • #687,482
  • Sep 3, 2012 2:28pm Sep 3, 2012 2:28pm
Quoting CapR
So going on the same road now isn't going to ultimately harm the global economy even worse? If they would have done the right thing and represented their constituents intentions to let he debt ceiling expire, it wouldn't of been politics. At least the Republicans present a budget which is the least that can be said for Harry Read. At least the Republicans present A plan like Ryan's medicare plan. Dems just support more the same old same old class warfare thuggery. Just raise taxes on the rich as if the government doesn't have a reputation of...
Do you really think the majority of their constituents wanted a potential US default? Seriously?

And that the Repubs present _bad_, deficit increasing plans with yet more wrongly placed tax cuts (job/economy growing venture capital should be getting them, not high incomes in general) isn't a point in their favour. I'm not taking sides here, I'm not aligned with the Democrats; I'm simply calling the Republicans out for behaviour that was childish and shameful.
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  • #687,483
  • Sep 3, 2012 2:29pm Sep 3, 2012 2:29pm
Quoting CapR
I have a 2.4 ghz quad core processor on an Alienware m17x laptop.
Poser
My charting doesnt require much so my Pentium3 is enough
But actually by "managing input" I meant menthally instead of computing power.
As I started trading I was like nearly everyone searching for the holy grail and ended up with tons of indicators on my charts and guess what, contradicting signals led to confusion and I did poorly...
Therefore it was time to reevaluate and since then Im doing better without any indicator.
But if u can handle all this on your screen u have my deepest respect.

cheers
  • #687,484
  • Sep 3, 2012 2:30pm Sep 3, 2012 2:30pm
Quoting Layzars
They could not threaten the US and global economy out of partisan pettiness for starters. They ultimately backed down because they knew the consequences would be completely untenable if they refused to increase the ceiling.

Besides, Republicans have never cared much for fiscal responsibility and 'sanity' in spite of contemporary rhetoric (they still don't by the way; just look at the Romney/Ryan plan). It was pure politics, and about smearing the Democrats,...
Not raising the debt ceiling on time was probably the single stupidest act since the Iraq war, those who refused to act should have been bitch slapped.
They ended up raising the debt ceiling anyway and all they got for it was more debt because the rate of interest on AA+ bonds is higher then AAA.
Had they not done so, the national debt would increase by an extra $150Billion a year in interest alone.
  • #687,485
  • Sep 3, 2012 2:36pm Sep 3, 2012 2:36pm
Quoting Layzars
Do you really think the majority of their constituents wanted a potential US default? Seriously?

And that the Repubs present _bad_, deficit increasing plans with yet more wrongly placed tax cuts (job/economy growing venture capital should be getting them, not high incomes) isn't a point in their favour. I'm not taking sides here, I'm not aligned with the Democrats; I'm simply calling the Republicans out for behaviour that was childish and shameful.
Your manufacturing a a phony premise here. You make it sound like the sky was going to fall on us. We would not have defaulted. We would have auto defunded a lot of gratuitous government expenses. E.G. USDA, EPA, foreign aid, etc. We had and still do have ample revenue coming in from foreign debt we own(bonds) and the estate tax. We survived without bloated government before and sure can survive now.

Childish and shameful? I know Republicans are hypocrites to an extent but I ask again, are Republicans just suppose to be hoars? Who's suppose to be the responsible adult in the household who makes sure we pay our bills? The more money the government confiscates out of the private sector, the less money the private sector has to grow the economy. The more people are taxed, the more they are apt to move out of the country or the less they spend. We should not rationalize the boiling frog analogy.
The trend is my friend? The world casino is my friend!
  • #687,486
  • Sep 3, 2012 2:42pm Sep 3, 2012 2:42pm
Quoting Xdir
Not raising the debt ceiling on time was probably the single stupidest act since the Iraq war, those who refused to act should have been bitch slapped.
They ended up raising the debt ceiling anyway and all they got for it was more debt because the rate of interest on AA+ bonds is higher then AAA.
Had they not done so, the national debt would increase by an extra $150Billion a year in interest alone.

The single stupidist act since the Iraq war(aside from electing Obama and Solyndra going bankrupt) was the fact the Republicans backed down. Do you think we would have lost our AAA rating from one credit agency if the government had slashed spending? Our outlook would have improved tremendously. On top of that, we would go into deflation and the dollar would strengthen. Therefore, consumers would have more purchasing power to stimulate demand to improve the economy.
The trend is my friend? The world casino is my friend!
  • #687,487
  • Sep 3, 2012 2:42pm Sep 3, 2012 2:42pm
Quoting CapR
Your manufacturing a a phony premise here. You make it sound like the sky was going to fall on us. We would not have defaulted. We would have auto defunded a lot of gratuitous government expenses. E.G. USDA, EPA, foreign aid, etc. We had and still do have ample revenue coming in from foreign debt we own(bonds) and the estate tax. We survived without bloated government before and sure can survive now.
What about the world wide fallout and precipitous drop in global confidence? The massive shockwaves that even a very real albeit unconsummated flirtation with US default would unleash upon already fragile economies still sickened from their 2008 hangover? What makes you think that your cherry picked agencies would be targeted for slashing? What gives you this surefire certainty? Further, again, do you really believe the American people as a majority would be in favour of staggering cuts across every sphere of the US government?

There are _very_ good reasons the Republicans conceded in the end (political suicide being one). Don't be foolish.

Quote
Childish and shameful? I know Republicans are hypocrites to an extent but I ask again, are Republicans just suppose to be hoars? Who's suppose to be the responsible adult in the household who makes sure we pay our bills?

Certainly not the Republicans if that graph and their factual history is to be believed. What the Republicans did was a political stunt which had material and adverse consequences as Xdir pointed out. Look at the situation objectively and understand this; it was petty politics. It wasn't about principles, it was about partisanship.
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  • #687,488
  • Sep 3, 2012 2:44pm Sep 3, 2012 2:44pm
Quoting BoozinBob
Poser
My charting doesnt require much so my Pentium3 is enough
But actually by "managing input" I meant menthally instead of computing power.
As I started trading I was like nearly everyone searching for the holy grail and ended up with tons of indicators on my charts and guess what, contradicting signals led to confusion and I did poorly...
Therefore it was time to reevaluate and since then Im doing better without any indicator.
But if u can handle all this on your screen u have my deepest respect.

cheers
I like using multiple indicators because they can validate each other. I haven't had much trouble with conflicting signals yet.
The trend is my friend? The world casino is my friend!
  • #687,489
  • Sep 3, 2012 2:54pm Sep 3, 2012 2:54pm
Quoting Layzars
What about the world wide fallout and precipitous drop in global confidence? The massive shockwaves that even a very real albeit unrealized flirtation with US default would unleash upon already fragile economies still sickened from their 2008 hangover? What makes you think that your cherry picked agencies would be targeted for slashing? What gives you this surefire certainty? Further, again, do you really believe the American people as a majority would be in favour of staggering cuts across every sphere of the US government?
Like i said, its better to go cold turkey now than to keep kicking the can downl the road. I frankly don't care much for which agencies are defunded but i do know the inherent responsibility of the state is in its military powers. So i don't think the military would have be completly cut. Probably a lot of overseas bases would have been defunded but then how would our military return home? That's why the domestic spending cuts would be the most practical. No i don't believe the public would be happy no handouts. Just look at Greece. Take heroin away from a drug addict wouldn't make the addict happy either. We can't cop out of the problem.
The trend is my friend? The world casino is my friend!
  • #687,490
  • Sep 3, 2012 2:55pm Sep 3, 2012 2:55pm
Quoting CapR
The single stupidist act since the Iraq war(aside from electing Obama and Solyndra going bankrupt) was the fact the Republicans backed down. Do you think we would have lost our AAA rating from one credit agency if the government had slashed spending? Our outlook would have improved tremendously. On top of that, we would go into deflation and the dollar would strengthen. Therefore, consumers would have more purchasing power to stimulate demand to improve the economy.
I suggest you look into Bond ratings, because either your right and every single Economist, Banker & Financial expert is wrong or you have no grasp of economics.
Why Bring Obama or Solyndra into this? Solyndra received about $1Billion in funds and went bankrupt (Reason for Bankruptcy? Chinese state funded Solar companies undercut it), Shit happens - Did you complain about the $12Billion in Cash that the Bush Admin lost in Iraq? you know the $12Billion delivered by Hercules transport in $100 bills that was "lost" and has never been accounted for. Im guessing you never heard of that scandal until I just told you and will be googling "$12Billion + Iraq +bush" straight away to confirm.
If you want to solve the Debt crisis its simple, raise the top Tax rate to 55%, cut defense spending and remove the carried interest loophole.
But that won't happen because Congress & the President are cowards, they are too scared to do the right thing because it might hurt their electoral prospects in the short term.
  • #687,491
  • Sep 3, 2012 3:11pm Sep 3, 2012 3:11pm
EUR will flirt with this area till German Constitutional Court decision on ESM. ECB rate decision may produce a pop one way or another, but a good swing on the daily looks to have that decision behind it.

http://img513.imageshack.us/img513/8199/euru.jpg
  • #687,492
  • Sep 3, 2012 3:11pm Sep 3, 2012 3:11pm
Quoting Xdir
I suggest you look into Bond ratings, because either your right and every single Economist, Banker & Financial expert is wrong or you have no grasp of economics.
Why Bring Obama or Solyndra into this? Solyndra received about $1Billion in funds and went bankrupt (Reason for Bankruptcy? Chinese state funded Solar companies undercut it), Shit happens - Did you complain about the $12Billion in Cash that the Bush Admin lost in Iraq? you know the $12Billion delivered by Hercules transport in $100 bills that was "lost" and has never been accounted for....
As i said, if Republicans had held their ground, we would not be over piling on more debt which would have to be paid with bigger interest rates. I never suggested i was a fan of Bush. And i never supported the Iraq. Government spend is government spending. If i can sum up my political beliefs in three words its this: Abolish the Fed.
Abolish the Fed so it results in dramatically less government so the government would have less capacity for corruption and abuse.

Raise the top tax rate to 55%? The top 10% of income earners pay 71% of federal income taxes. http://blog.heritage.org/2011/10/04/...-pay-in-taxes/
As i said before, the more you tax the less production is incentivized. More wealthy people will leave, invest less money, spend less money. Government makes political and not economic decisions with tax money. And the boiling frog will continue to incrementally die without really knowing it.

The President and the Democrat congress are cowards? Why didn't they let the Bush tax cuts expire? Because they know what tax hikes do to the economy. So they opt for what's more politically convenient which is the inflationary tax. So in effect they tax the US and all other countries around the world which hold reserves of US dollars.
The trend is my friend? The world casino is my friend!
  • #687,493
  • Sep 3, 2012 3:15pm Sep 3, 2012 3:15pm
I'm done debating. I'm gonna take a break.
The trend is my friend? The world casino is my friend!
  • #687,494
  • Sep 3, 2012 3:27pm Sep 3, 2012 3:27pm
Quoting Xdir
If you want to solve the Debt crisis its simple, raise the top Tax rate to 55%, cut defense spending and remove the carried interest loophole.
But that won't happen because Congress & the President are cowards, they are too scared to do the right thing because it might hurt their electoral prospects in the short term.
There is absolutely no way to get a Federal balanced budget.
Downright impossible.

Fact is, mandatory government spending + interest is higher than the intake in taxes.
Even if you eliminate the whole Federal Government including all the defense spending, and including the White House and Congress itself, there is still no balanced budget possible, there is still a deficit.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #687,495
  • Edited 4:06pm Sep 3, 2012 3:39pm | Edited 4:06pm
Quoting CapR
Raise the top tax rate to 55%? The top 10% of income earners pay 71% of federal income taxes. http://blog.heritage.org/2011/10/04/...-pay-in-taxes/
As i said before, the more you tax the less production is incentivized. More wealthy people will leave, invest less money, spend less money. Government makes political and not economic decisions with tax money. And the boiling frog will continue to incrementally die without really knowing it.

The President and the Democrat congress are cowards?...
Raising general income taxes is fine so long as you reduce them for productive investment, i.e. venture capital; the application of money that actually creates jobs and growth long term. This is a much more effective policy as contrasted to giving the rich more money to horde or invest in secondary markets or discretionary spending that have minimal positive economic impact. The cold hard fact is that the majority of money saved by the wealthy via tax cuts is either not directly reinvested into the economy or reinvested in a low impact way (again, secondary markets). The 'job creators' doctrine/mantra is a myth.

Obama didn't let the cuts expire because of what they did for the economy, but because of lobbyist/Congressional pressure (it's a concession) and what doing so could mean for his campaign financing (the Republicans are subject to even more pressure on this front btw). No real benefit from the cuts has been conclusively demonstrated, and most economists have found them ineffective as a stimulant. Further it's been shown a substantial contributor to the deficit to the tune of about $1.8 trillion from 2002-2009, with trillions more to be added as a consequence of its extension.
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  • #687,496
  • Sep 3, 2012 3:53pm Sep 3, 2012 3:53pm
Strong support. Good buying opportunity in my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: NZD Support.png Size: 31 KB
Even the worst trade can close with profit. Just give it time.
  • #687,497
  • Sep 3, 2012 3:55pm Sep 3, 2012 3:55pm
Raising tax rates too high leaves "The people with the money" reallocating more time towards avoiding tax rather than investing and growing the economy.

So a 55% tax rate or whatever you were suggesting wouldn't really work...
Even the worst trade can close with profit. Just give it time.
  • #687,498
  • Sep 3, 2012 3:56pm Sep 3, 2012 3:56pm
Especially when it goes to funding non-investing activities like the social services.
Even the worst trade can close with profit. Just give it time.
  • #687,499
  • Sep 3, 2012 4:14pm Sep 3, 2012 4:14pm
Well I'm looking at weekly chart and bearish trend there. It could go to 1.23 after all. Going up it will be something monumental.
  • #687,500
  • Sep 3, 2012 4:15pm Sep 3, 2012 4:15pm
Abolish Fed Reserve

Form a real federal US Govt bank, which will be run my People elected person

This bank will be given control to print money

This bank will have branches in all states and cities to lend money to people and corporation.

The profit thru interest it makes, stays with the bank goes nowhere....
except for future loans, after a while they dont have to print money out of thin air.....

Let wall street operates on its own, if they make bad bets, let them fail

Let big banks fails, we dont need them anymore

Let corporations do their stuff...

If the govt needs money to run, let them borrow money thru bonds from the US Govt bank, and payback interest to it, which will go towards future loans for people and corporations...


************
Now lets discuss if these steps will solve our financial problems...

It is fun topic to discuss anyways
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