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Nice honest sobering view...
Weird thing is happening in the border town of Ontario I live. For the last week I've watched store owners out right refuse USD and explain to the southern cousins that they have to go to the bank to exchange it. Mainly because last time it happened the majority of them got wickedly fucked with the exchange rate going bananas.
Anyone else notice the volume is lower than ever?
Is anyone actually trading anymore?
WOWSERS, now you know how all those Americans that lost manufacturing jobs to NAFTA and a pathetically weak Canadian dollar for years felt.
"the majority of them got wickedly fucked "
Meh, most of the Canuck jobs are in Asia now, only think running here now is cottage industry which is taxed at a premium or commodities.
NAFTA was a silly idea to begin with, governments regulating and brokering trade is a bad thing altogether. All it did was fuck everyone but the rich SOB's that own it all.
wahhhhhhhh??? Ontario is sweating elephant turds everytime the Canadian dollar gains a penny as the entire province is built off of manufacturing jobs that supply the U.S. with everything from apple tarts to zip ties. Check out the border at Lewiston and see the massive semis everday hauling Canadian manufactured goods. I never knew such a small country had that many trucks!!! and that much wealth! Saw a lucky Candian hauling himself a Lamborghini back to to Canada! - NAFTA been bera bera good to Canada! MILLIONS OF MANUFACTURING JOBS !!
Rosie and friend are on BNN right now. A great interview. It'll be on the web shortly.
really great post, why I come here
Meanwhile, the Grey Mare is rearing and bumping $27.00. Can anyone say $30.00 silver?
Revert to the mean, bitchez. Oh, yeah. Looking forward to the day when we command a 15 to 1 with gold at $5,000
While I agree that those things will likely happen, and I am positioned for it too, I do not wish for them.
When those things happen, you will look back on today as the 'good 'ole days'. It will have meant the SHTF.
mad as hell myself. I figure revenge..she is best served cold..how cold you say? ice cold
Looks rather toppy today.
Makes sense that the waste/administrative services sector picked up to handle all the crap that continues to spew out of our government.....
good one... going long WM, steady stream of garbage in the future and with the FED inflating away pension liabilities..golden
Rosey is becoming the Bob Doll of bears. Not enviable nor becoming of a great talent.
Meanwhile happy Guy Fawkes Night. Instead of the pope, Buttweasel Ben should be burned in effigy. Enjoy your bonfires UK because the next one is underneath USA.
is this a new government category?
Rosie really needs to go sit in a padded cell with Prechter and Denninger. Dumb, Dumber, and Crazier. No wonder Merrill tossed his ass out the door. This is not "honest analysis." This is tortured logic to try and excuse his insane and, to his clients, costly predictions, most of which have never come close to being true. He's an investment analyst, not a philosopher. His job is to make his clients money, after all. That means knowing and understanding the ramifications of the Fed's manipulation, not railing against it when it destroys his simpleton predictions.
Interesting how many people still say Rosie was "wrong" - I guess it depends on when you started listening to him.. March 2009.. or March 2008. Also, his theme of dividend paying utilities, long bonds and gold have been keeping up with the insanity of the overall market.. and with a far lower risk profile.
Of course the real shit hasn't happened yet.... so when that happens.. I look forward to watching a few eat humble pie.
The problem is he's been wrong more often recently. Almost completely wrong this year. But we'll see how he does long term.
Cost of anti-poverty programs surpasses that of Medicare in 2010! (fiscal)
And on why $600 billion QE is a drop in the bucket compared to the $5 trillion (as we have been saying for a long time) that is actually needed... and will transpire.
How and why will it transpire? I have a hard time believing there'll be a QE3 based on current sentiment.
I'm looking for some opinions on the FED's future actions. Assuming they QE to infinity, commodities will continue to inflate. However, if they discontinue QE, I see commodities bursting like a bubble. Part of me doesn't want to hold any cash, but part of me is uncomfortable holding commodities as well. Anyone foresee another 2008 type crash in the future?
fyi You can also have Rosie's emails sent to you directly by signing up here:
Any Bears on this bus?
Rosenberg, short since March '09.
Rosie in May 2009:
"We know what the range of outcomes can look like: 600 to 840 on the S&P 500. On March 9th , there was much more upside; today at 892, quite the opposite."
Rosie is 100 per cent correct however he fails to take into account the firehose of money the FED has connected to the markets to keep them afloat becuse the one thing Bernanke does not want, nor will he let occur is a decline in the market. It's the ONLY real way they have of putting money into people's pockets. It's fucked.
On a footnote I've cleared my shorts as fighting the FED has cost me too much. Now I will wait until this facade we call a market and governance are flushed and help in the flushing in whatever way I can.
two conflicting quotes from Rosie:
"In terms of the Fed, we may well have seen the last of the quantitative easings"
"The $600 billion of QE2 that the markets have fallen in love with is actually a drop in the bucket next to the $5 trillion of asset buying that would be needed to completely close the output gap and generate a lasting inflation backdrop"
..so how about that? how will see $5 tri money printing if we saw last QE...
it seems like Ben's mindtricks blur everybody else's judgement... nice job, way to go...
David does his research there is no doubt about it, much like the guys at Zero Hedge do to. It is like Shadow Stats. If you want to get the real truth then you need to listen to an unbiased opinion. I mean what is glaringly obvious is how quickly traders jump the gun at the slightest bit of positive news without regards to the true data? It never ceases to amaze me.
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My long term indicators continue to warn of USD strength and EURO weakness.
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