[LA_Renter]

Here is a prediction, OPEC looks for a Non-US Dollar Currency. This is getting interesting.

“RIYADH, Nov 18 (Reuters) – OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar’s impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.”

“Pricing oil against a currency basket was “not specifically on the agenda” of the finance minister’s meeting, he said.
Ecuador, which rejoined the cartel at the Riyadh summit after 15 years, backed Venezuela’s and Iran’s push to have their concerns about the dollar included in the summit communique, Jabor said.
“Other member states discreetly share the same concern,” he said declining to elaborate or say what Iraq’s position was.”

http://www.guardian.co.uk/feedarticle?id=7086210

Do you think this has put The FED into a bit of a corner here, or maybe “vice” would be the appropriate word.??

[LA_Renter]

Here is a prediction, OPEC looks for a Non-US Dollar Currency. This is getting interesting.

“RIYADH, Nov 18 (Reuters) – OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar’s impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.”

“Pricing oil against a currency basket was “not specifically on the agenda” of the finance minister’s meeting, he said.
Ecuador, which rejoined the cartel at the Riyadh summit after 15 years, backed Venezuela’s and Iran’s push to have their concerns about the dollar included in the summit communique, Jabor said.
“Other member states discreetly share the same concern,” he said declining to elaborate or say what Iraq’s position was.”

http://www.guardian.co.uk/feedarticle?id=7086210

Do you think this has put The FED into a bit of a corner here, or maybe “vice” would be the appropriate word.??

[LA_Renter]

Here is a prediction, OPEC looks for a Non-US Dollar Currency. This is getting interesting.

“RIYADH, Nov 18 (Reuters) – OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar’s impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.”

“Pricing oil against a currency basket was “not specifically on the agenda” of the finance minister’s meeting, he said.
Ecuador, which rejoined the cartel at the Riyadh summit after 15 years, backed Venezuela’s and Iran’s push to have their concerns about the dollar included in the summit communique, Jabor said.
“Other member states discreetly share the same concern,” he said declining to elaborate or say what Iraq’s position was.”

http://www.guardian.co.uk/feedarticle?id=7086210

Do you think this has put The FED into a bit of a corner here, or maybe “vice” would be the appropriate word.??

[LA_Renter]

Here is a prediction, OPEC looks for a Non-US Dollar Currency. This is getting interesting.

“RIYADH, Nov 18 (Reuters) – OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar’s impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.”

“Pricing oil against a currency basket was “not specifically on the agenda” of the finance minister’s meeting, he said.
Ecuador, which rejoined the cartel at the Riyadh summit after 15 years, backed Venezuela’s and Iran’s push to have their concerns about the dollar included in the summit communique, Jabor said.
“Other member states discreetly share the same concern,” he said declining to elaborate or say what Iraq’s position was.”

http://www.guardian.co.uk/feedarticle?id=7086210

Do you think this has put The FED into a bit of a corner here, or maybe “vice” would be the appropriate word.??

[LA_Renter]

Here is a prediction, OPEC looks for a Non-US Dollar Currency. This is getting interesting.

“RIYADH, Nov 18 (Reuters) – OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar’s impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.”

“Pricing oil against a currency basket was “not specifically on the agenda” of the finance minister’s meeting, he said.
Ecuador, which rejoined the cartel at the Riyadh summit after 15 years, backed Venezuela’s and Iran’s push to have their concerns about the dollar included in the summit communique, Jabor said.
“Other member states discreetly share the same concern,” he said declining to elaborate or say what Iraq’s position was.”

http://www.guardian.co.uk/feedarticle?id=7086210

Do you think this has put The FED into a bit of a corner here, or maybe “vice” would be the appropriate word.??

[LA_Renter]

‘Does the housing market cause mental illness?’

Nope, but it looks like we are going to find out who’s on the edge.

[LA_Renter]

‘Does the housing market cause mental illness?’

Nope, but it looks like we are going to find out who’s on the edge.

[LA_Renter]

‘Does the housing market cause mental illness?’

Nope, but it looks like we are going to find out who’s on the edge.

[LA_Renter]

‘Does the housing market cause mental illness?’

Nope, but it looks like we are going to find out who’s on the edge.

[LA_Renter]

“It was exactly a month ago yesterday that we hit the all time high of 14,164, now we’re 1000pts down.”

That high of 14,164 occurred after the summer credit crunch sent the Dow to about 12,500 in mid August. Some reasons we saw the rally to over 14k is that the Fed began easing starting with a 50 bps cut and the street made the assumption that the Financials threw the kitchen sink into third quarter earnings thus the worst of the credit crunch had passed (and we all lived happily ever after). The true reality of the credit crisis is beginning to set in and it is far from over. The Royal Bank of Scotland chief credit strategist Bob Janjuah in London has one of the most bearish views and IMO probably the most accurate.

“This credit crisis, when all is out, will see $250bn to $500bn of losses. The heat is on and it is inevitable that more players will have to revalue at least a decent portion” of assets they currently value “using ‘mark-to-make believe'”.

So far there have been about $50B in losses reported. The market has not priced in Mr. Janjuah’s assumptions. Of course there is also the global growth story that clouds how the markets will react among a myriad of other factors. In other words I have no idea where the market is heading IMHO but this credit crisis thing ain’t over.

[LA_Renter]

“It was exactly a month ago yesterday that we hit the all time high of 14,164, now we’re 1000pts down.”

That high of 14,164 occurred after the summer credit crunch sent the Dow to about 12,500 in mid August. Some reasons we saw the rally to over 14k is that the Fed began easing starting with a 50 bps cut and the street made the assumption that the Financials threw the kitchen sink into third quarter earnings thus the worst of the credit crunch had passed (and we all lived happily ever after). The true reality of the credit crisis is beginning to set in and it is far from over. The Royal Bank of Scotland chief credit strategist Bob Janjuah in London has one of the most bearish views and IMO probably the most accurate.

“This credit crisis, when all is out, will see $250bn to $500bn of losses. The heat is on and it is inevitable that more players will have to revalue at least a decent portion” of assets they currently value “using ‘mark-to-make believe'”.

So far there have been about $50B in losses reported. The market has not priced in Mr. Janjuah’s assumptions. Of course there is also the global growth story that clouds how the markets will react among a myriad of other factors. In other words I have no idea where the market is heading IMHO but this credit crisis thing ain’t over.

[LA_Renter]

“It was exactly a month ago yesterday that we hit the all time high of 14,164, now we’re 1000pts down.”

That high of 14,164 occurred after the summer credit crunch sent the Dow to about 12,500 in mid August. Some reasons we saw the rally to over 14k is that the Fed began easing starting with a 50 bps cut and the street made the assumption that the Financials threw the kitchen sink into third quarter earnings thus the worst of the credit crunch had passed (and we all lived happily ever after). The true reality of the credit crisis is beginning to set in and it is far from over. The Royal Bank of Scotland chief credit strategist Bob Janjuah in London has one of the most bearish views and IMO probably the most accurate.

“This credit crisis, when all is out, will see $250bn to $500bn of losses. The heat is on and it is inevitable that more players will have to revalue at least a decent portion” of assets they currently value “using ‘mark-to-make believe'”.

So far there have been about $50B in losses reported. The market has not priced in Mr. Janjuah’s assumptions. Of course there is also the global growth story that clouds how the markets will react among a myriad of other factors. In other words I have no idea where the market is heading IMHO but this credit crisis thing ain’t over.

[LA_Renter]

“It was exactly a month ago yesterday that we hit the all time high of 14,164, now we’re 1000pts down.”

That high of 14,164 occurred after the summer credit crunch sent the Dow to about 12,500 in mid August. Some reasons we saw the rally to over 14k is that the Fed began easing starting with a 50 bps cut and the street made the assumption that the Financials threw the kitchen sink into third quarter earnings thus the worst of the credit crunch had passed (and we all lived happily ever after). The true reality of the credit crisis is beginning to set in and it is far from over. The Royal Bank of Scotland chief credit strategist Bob Janjuah in London has one of the most bearish views and IMO probably the most accurate.

“This credit crisis, when all is out, will see $250bn to $500bn of losses. The heat is on and it is inevitable that more players will have to revalue at least a decent portion” of assets they currently value “using ‘mark-to-make believe'”.

So far there have been about $50B in losses reported. The market has not priced in Mr. Janjuah’s assumptions. Of course there is also the global growth story that clouds how the markets will react among a myriad of other factors. In other words I have no idea where the market is heading IMHO but this credit crisis thing ain’t over.

[LA_Renter]

The bubble popped, pretty much everything you read and hear about the bailout is only in the context of mopping up the mess.

[LA_Renter]

There will be a point where you will want to go long on some of the HB’s, this is not that point. I think what you need to see is one or two of the big boys fold. I think that is inevitable at this time and will probably occur in 2008. Once you see some real blood in the street identify the strongest players and start a position. IMHO.

[Author]

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