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peterb
ParticipantWhat a revelation. Cant spend cause credits gone. WOW, who’d a thunk it? Having to spend only what’s actually derived from one’s income. That’s down right unamerican. And it’s now reality. Cash is king once more. Hail to the king. In God we trust, all others bring cash.
Oh, one other thing. Studies have shown that the number one reason for defaulting on a home mortgage is not the inability to pay, but rather owing more than the value of the home!! How many is “1 in 6” out there? Look for those to default, especially as unemployment’s rising.
ParticipantWhat a revelation. Cant spend cause credits gone. WOW, who’d a thunk it? Having to spend only what’s actually derived from one’s income. That’s down right unamerican. And it’s now reality. Cash is king once more. Hail to the king. In God we trust, all others bring cash.
Oh, one other thing. Studies have shown that the number one reason for defaulting on a home mortgage is not the inability to pay, but rather owing more than the value of the home!! How many is “1 in 6” out there? Look for those to default, especially as unemployment’s rising.
ParticipantWhat a revelation. Cant spend cause credits gone. WOW, who’d a thunk it? Having to spend only what’s actually derived from one’s income. That’s down right unamerican. And it’s now reality. Cash is king once more. Hail to the king. In God we trust, all others bring cash.
Oh, one other thing. Studies have shown that the number one reason for defaulting on a home mortgage is not the inability to pay, but rather owing more than the value of the home!! How many is “1 in 6” out there? Look for those to default, especially as unemployment’s rising.
ParticipantKewp- I think you’ve hit on exactly what’s happening out there. Credit was a gigantic part of the money supply….see charts of global credit growth for the last 8 years.
That’s all but destroyed now. Compare this recent destruction of global credit to what’s actually in bank account deposits and in wages. It is tiny compared to the credit destruction. Keep in mind, there’s little money left in home equity, stock market equity has been devistated and wages are not rising (unemployment rising).
How can the US$ not rise in this equation?! There’s really not that much of it out there. Go try to take your money out of bank, see how they cry. Cause they aint got any more they can get.“Cash is king” and “cash in a crash” Is really true. Look around, it’s happening real-time. The US$ is buying more of almost everything by the day!!
ParticipantKewp- I think you’ve hit on exactly what’s happening out there. Credit was a gigantic part of the money supply….see charts of global credit growth for the last 8 years.
That’s all but destroyed now. Compare this recent destruction of global credit to what’s actually in bank account deposits and in wages. It is tiny compared to the credit destruction. Keep in mind, there’s little money left in home equity, stock market equity has been devistated and wages are not rising (unemployment rising).
How can the US$ not rise in this equation?! There’s really not that much of it out there. Go try to take your money out of bank, see how they cry. Cause they aint got any more they can get.“Cash is king” and “cash in a crash” Is really true. Look around, it’s happening real-time. The US$ is buying more of almost everything by the day!!
ParticipantKewp- I think you’ve hit on exactly what’s happening out there. Credit was a gigantic part of the money supply….see charts of global credit growth for the last 8 years.
That’s all but destroyed now. Compare this recent destruction of global credit to what’s actually in bank account deposits and in wages. It is tiny compared to the credit destruction. Keep in mind, there’s little money left in home equity, stock market equity has been devistated and wages are not rising (unemployment rising).
How can the US$ not rise in this equation?! There’s really not that much of it out there. Go try to take your money out of bank, see how they cry. Cause they aint got any more they can get.“Cash is king” and “cash in a crash” Is really true. Look around, it’s happening real-time. The US$ is buying more of almost everything by the day!!
ParticipantKewp- I think you’ve hit on exactly what’s happening out there. Credit was a gigantic part of the money supply….see charts of global credit growth for the last 8 years.
That’s all but destroyed now. Compare this recent destruction of global credit to what’s actually in bank account deposits and in wages. It is tiny compared to the credit destruction. Keep in mind, there’s little money left in home equity, stock market equity has been devistated and wages are not rising (unemployment rising).
How can the US$ not rise in this equation?! There’s really not that much of it out there. Go try to take your money out of bank, see how they cry. Cause they aint got any more they can get.“Cash is king” and “cash in a crash” Is really true. Look around, it’s happening real-time. The US$ is buying more of almost everything by the day!!
ParticipantKewp- I think you’ve hit on exactly what’s happening out there. Credit was a gigantic part of the money supply….see charts of global credit growth for the last 8 years.
That’s all but destroyed now. Compare this recent destruction of global credit to what’s actually in bank account deposits and in wages. It is tiny compared to the credit destruction. Keep in mind, there’s little money left in home equity, stock market equity has been devistated and wages are not rising (unemployment rising).
How can the US$ not rise in this equation?! There’s really not that much of it out there. Go try to take your money out of bank, see how they cry. Cause they aint got any more they can get.“Cash is king” and “cash in a crash” Is really true. Look around, it’s happening real-time. The US$ is buying more of almost everything by the day!!
ParticipantMaybe this lasts four weeks and then back on the pain train to 7500. Typical effort of govt to appear helpful. We’ll be extrememly lucky if this is just a recession. But this is not the bottom. As it becomes more obvious to the market that this will be the worst xmas season in decades, they will sell once more. Next leg down being 7200 to 7500.
ParticipantMaybe this lasts four weeks and then back on the pain train to 7500. Typical effort of govt to appear helpful. We’ll be extrememly lucky if this is just a recession. But this is not the bottom. As it becomes more obvious to the market that this will be the worst xmas season in decades, they will sell once more. Next leg down being 7200 to 7500.
ParticipantMaybe this lasts four weeks and then back on the pain train to 7500. Typical effort of govt to appear helpful. We’ll be extrememly lucky if this is just a recession. But this is not the bottom. As it becomes more obvious to the market that this will be the worst xmas season in decades, they will sell once more. Next leg down being 7200 to 7500.
ParticipantMaybe this lasts four weeks and then back on the pain train to 7500. Typical effort of govt to appear helpful. We’ll be extrememly lucky if this is just a recession. But this is not the bottom. As it becomes more obvious to the market that this will be the worst xmas season in decades, they will sell once more. Next leg down being 7200 to 7500.
ParticipantMaybe this lasts four weeks and then back on the pain train to 7500. Typical effort of govt to appear helpful. We’ll be extrememly lucky if this is just a recession. But this is not the bottom. As it becomes more obvious to the market that this will be the worst xmas season in decades, they will sell once more. Next leg down being 7200 to 7500.
ParticipantWe had a global rate cut this week. The DOW is at 8500 from 14,000. Credit markets are locking up. Lay-offs are being announced and I’m hearing more about “silent rifs” in big companies…more expense restrictions as well.
The market almost always leads the economy. We’ve been in a recession since January. All the BLS stats are govt lies. This crash has legs and they are growing longer every day.It’s a global melt-down. The panic we’re seeing from all govt’s is about keeping this thing from a free fall. Not stopping it. Going long now is a real gamble. And I’ve dealt with Brazil, be very careful of anything they say!! -
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