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  • #688,401
  • Sep 5, 2012 8:58pm Sep 5, 2012 8:58pm
Quoting SpacyTrader
Yup I do. An honest jew. Wonder how many of these are around. Only point I don't agree with him is international free trade: if you put 2 countries into competition- one that can export a lot of products to the other while the second is completely uncompetitive internationally by his theory the uncompetitive country should be able to develop export capabilities to balance the trade. Historically what has happened instead is political instability and revolutions in the uncompetitive country since there was no local entity that could acquire the needed...
Yeah, not many honest Jews but they exist. Milton Friedman was an honest Jew.

If that is true, what is the alternative?
The trend is my friend? The world casino is my friend!
  • #688,402
  • Sep 5, 2012 9:01pm Sep 5, 2012 9:01pm
Quoting sidhujag
i smell short squeeeze
Me, too. Just trying to figure out where to put my sell limit at before bed.

edit: 1.2654 looks tempting.
Time turns trend. - W.D. Gann
  • #688,403
  • Sep 5, 2012 9:01pm Sep 5, 2012 9:01pm
Quoting sidhujag
i smell short squeeeze
What is a short squeeze?
  • #688,404
  • Sep 5, 2012 9:03pm Sep 5, 2012 9:03pm
Quoting publicjud
What is a short squeeze?
Short squeeze means a short climb up in price.
The trend is my friend? The world casino is my friend!
  • #688,405
  • Sep 5, 2012 9:09pm Sep 5, 2012 9:09pm
Quoting CapR
Yeah, not many honest Jews but they exist. Milton Friedman was an honest Jew.

If that is true, what is the alternative?
The alternative to international free trade ? Protectionism/state directed capitalism/forcing consumption down. That's the route followed in asia by Japan (doing after ww2 the same things that lifted them out of the middle ages before and the same thing her Hitler did for Germany btw) then emulated by Korea, Taiwan, Singapore and China more recently. The countries around them that did nothing similar are still mostly third world shitholes with some bright spots.

Free trade might be a good idea when you have a first class economy, but when you don't it looks like a killer.
  • #688,406
  • Sep 5, 2012 9:10pm Sep 5, 2012 9:10pm
Quoting CapR
Short squeeze means a short climb up in price.
lol u gotta be joking all it means essentially is that price
is chasing weak shorts out of their positions. Can grow into trends.
  • #688,407
  • Sep 5, 2012 9:17pm Sep 5, 2012 9:17pm
Quoting publicjud
What is a short squeeze?
Market Makers (large banks) know exactly where large pockets of short orders exist.

So if they are so inclined, they buy heavy into this level forcing price action through this level in an effort to trigger the Stop Losses of all those short positions.

If they succeed, this can result in price spike the general market wasnt expecting, and then momentum traders may jump in and push even higher.

Also, they may know of a pocket of limit buy orders above the price barrier the market was respecting previously. This gives them further incentive to attempt the short squeeze.

It doesnt always work, but when it does it results in dramatic price action.
  • #688,408
  • Sep 5, 2012 9:18pm Sep 5, 2012 9:18pm
Quoting SpacyTrader
The alternative to international free trade ? Protectionism/state directed capitalism/forcing consumption down. That's the route followed in asia by Japan (doing after ww2 the same things that lifted them out of the middle ages before and the same thing her Hitler did for Germany btw) then emulated by Korea, Taiwan, Singapore and China more recently. The countries around them that did nothing similar are still mostly third world shitholes with some bright spots.

Free trade might be a good idea when you have a first class economy, but when you...
You just confused the heck out of me. The state should be "Forcing consumption down"? Japan was a protectionist country when they industrialized themselves in the 1900s? Korea, Taiwan, Singapore, and China are protectionist? I don't get it.
The trend is my friend? The world casino is my friend!
  • #688,409
  • Sep 5, 2012 9:20pm Sep 5, 2012 9:20pm
Quoting sidhujag
lol u gotta be joking all it means essentially is that price
is chasing weak shorts out of their positions. Can grow into trends.
Yeah but that usually doesn't happen right?
The trend is my friend? The world casino is my friend!
  • #688,410
  • Sep 5, 2012 9:25pm Sep 5, 2012 9:25pm
Quoting SpacyTrader
The alternative to international free trade ? Protectionism/state directed capitalism/forcing consumption down. That's the route followed in asia by Japan (doing after ww2 the same things that lifted them out of the middle ages before and the same thing her Hitler did for Germany btw) then emulated by Korea, Taiwan, Singapore and China more recently. The countries around them that did nothing similar are still mostly third world shitholes with some bright spots.

Free trade might be a good idea when you have a first class economy, but when you...
From what i know about protectionism, a country makes essentially makes itself a loner and doesn't benefit or learn anything from opening up socializing with the rest of the world. A country that seals itself off from international markets will only make its citizens lose out on saving money by buying lower cost goods and services which are bound to exist around the world.
The trend is my friend? The world casino is my friend!
  • #688,411
  • Sep 5, 2012 9:26pm Sep 5, 2012 9:26pm
Quoting CapR
You just confused the heck out of me. The state should be "Forcing consumption down"? Japan was a protectionist country when they industrialized themselves in the 1900s? Korea, Taiwan, Singapore, and China a protectionist? I don't get it.
Read up on how those places rose. They forced wages down and directed funds, often by very brutal non-market means to capital accumulation. In the case of China it should be clear to you- it is very recent history how they got accused of keeping their currency artificially low (correctly until recently)- if it was higher people's wages would buy more, would represent a bigger cost for their employers making it harder to expand and depleting savings in consumption would deprive industry of the funds needed for expansion.
  • #688,412
  • Sep 5, 2012 9:26pm Sep 5, 2012 9:26pm
Today there is more news to earn in spike
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  • #688,413
  • Edited 9:45pm Sep 5, 2012 9:27pm | Edited 9:45pm
Quoting CapR
From what i know about protectionism, a country makes essentially makes itself a loner and doesn't benefit or learn anything from opening up socializing with the rest of the world. A country that seals itself off from international markets will only make its citizens lose out on saving money by buying lower cost goods and services which are bound to exist around the world.
Yeah- free trade is a big and obvious short term benefit for consumers, but it makes rapid industrialization impossible. Koreans still hate general Park with a passion for his policies (for a while people lived better in North Korea than in the South) but they don't look at their neighbors to see what living standards they'd still have without him.

But still I agree there would have been fairer ways to accomplish the same thing: like giving the people you're cutting their wages and profits stocks in the companies that are funded with their money and only allow them to sell the stocks after a few decades.
  • #688,414
  • Sep 5, 2012 9:43pm Sep 5, 2012 9:43pm
Quoting SpacyTrader
Yeah- free trade is a big and obvious short term benefit for consumers, but it makes rapid industrialization impossible. Koreans still hate general Park with a passion for his policies (for a while people lived better in North Korea than in the South) but they don't look at their neighbors to see what living standards they'd still have without him.
Consumers will always act in their own individual self-interest. Its the state's fault for not understanding the human nature of its individual citizens and thinking they behave in hypothetical ways. Take the U.S. for example, we punish our businesses with minimum wage, worker's compensation, the liability of a frivolous lawsuit, and UnAffordable Healthcare Act expenses when ever they hire someone. These policies have gutted our industrial base an made us uncompetitive with free trade in the world. If we eliminated all of those expenses, the people who are sitting on GDP growth would not be timid to unleash that growth by hiring people and expanding business in the U.S. The only thing the state is good at doing is adjudicating disputes, protecting civil and private property rights, and militarily defending against other uncivil foreign states/governments. Give the state anymore power and it abuses it, E.G. protectionist powers. Protectionism inhibits production of goods and services and the world as a whole can always need more goods and services.
The trend is my friend? The world casino is my friend!
  • #688,415
  • Sep 5, 2012 9:47pm Sep 5, 2012 9:47pm
Quoting SpacyTrader
Read up on how those places rose. They forced wages down and directed funds, often by very brutal non-market means to capital accumulation. In the case of China it should be clear to you- it is very recent history how they got accused of keeping their currency artificially low (correctly until recently)- if it was higher people's wages would buy more, would represent a bigger cost for their employers making it harder to expand and depleting savings in consumption would deprive industry of the funds needed for expansion.
And those things wouldn't happen without the state abusing its power. You say China keeps its currency low but what is the U.S. doing? The Fed(our central bank and not China's central bank) is thinking about QE3. Their logic is that we need a cheaper dollar to stimulate exports or keeps interest rates down by buying more bonds. Same stuff China did which was the abuse of power.
The trend is my friend? The world casino is my friend!
  • #688,416
  • Sep 5, 2012 9:52pm Sep 5, 2012 9:52pm
EUR/CHF is still up.....
  • #688,417
  • Sep 5, 2012 9:54pm Sep 5, 2012 9:54pm
Quoting CapR
Consumers will always act in their own individual self-interest. Its the state's fault for not understanding the human nature of its individual citizens and thinking they behave in hypothetical ways. Take the U.S. for example, we punish our businesses with minimum wage, worker's compensation, the liability of a frivolous lawsuit, and UnAffordable Healthcare Act expenses when ever they hire someone. These policies have gutted our industrial base an made us uncompetitive with free trade in the world. If we eliminated all of those expenses, the...
I dont think you saw- I just added a paragraph on fairness to the text you quoted. Yeah you're right of course about the US: it's doing the exact opposite of the policies I described- encouraging excessive consumption and eroding savings.

You can disagree with what those states I mentioned did but you should at least come to terms with the results which were excellent and way above the countries around them that applied non-interventionist policies that according to you should have created better results. Doing anything else and just declaring dogmatically that interventionist shit like that doesn't work period is kinda absurd when confronted with evidence to the contrary.

In short what those asian countries did was suppressing immediate consumer goods consumption by their population and diverted the funds towards expanding (mostly private and competing) businesses. Where you can object is that all this was forced and confiscatory but it did in the end create immense wealth.

So I guess the gist of my argument is: you may be morally opposed to slavery but you can't deny it can create great wealth for the slave owner.
  • #688,418
  • Sep 5, 2012 10:02pm Sep 5, 2012 10:02pm
Quoting SpacyTrader
I dont think you saw- I just added a paragraph on fairness to the text you quoted. Yeah you're right of course about the US: it's doing the exact opposite of the policies I described- encouraging excessive consumption and eroding savings.

You can disagree with what those states I mentioned did but you should at least come to terms with the results which were excellent and way above the countries around them that applied non-interventionist policies that according to you should have created better results. Doing anything else and just declaring...
You'll have to elaborate or substantiate for me how these Asian countries created immense wealth through government intervention.
The trend is my friend? The world casino is my friend!
  • #688,419
  • Sep 5, 2012 10:07pm Sep 5, 2012 10:07pm
Quoting CapR
You'll have to elaborate or substantiate for me how these Asian countries created immense wealth through government intervention.
Err: just 2- http://en.wikipedia.org/wiki/Japanes...onomic_miracle and http://en.wikipedia.org/wiki/Taiwan_Miracle I trust you can find the rest if you want.
  • #688,420
  • Sep 5, 2012 10:08pm Sep 5, 2012 10:08pm
Quoting forex_J
EUR/CHF is still up.....
Call the doctor, ................its more than 4 hours
The Thief of Wall Street
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