[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('Bas', 'W')ell, the dollar dropped through the 110 yen bottom Today and looking at the commodity markets, quite a lot of the carry trade seems to be unwinding because of it.

(funnily enough the dollar is up a bit against the Euro today)

[Bas]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', '
')
Also funnily, a talking head on CNBC said a few minutes ago that oil was down on a rebounding dollar. But as I'm looking at the chart linked above, the fabulous "rebound" still has the dollar below 110.

Stupid rubes.

[roccman]

Well well well...gold shoots straight up at open $4 and buckey getting beat up pretty hard already...

Ya think the hot mic at the OPEC meeting has anything to do with this?

I think it does.

Got bunker?

[master_rb]

$this->bbcode_second_pass_quote('', 'Y')a think the hot mic at the OPEC meeting has anything to do with this?

[roccman]

$this->bbcode_second_pass_quote('master_rb', '')$this->bbcode_second_pass_quote('', 'Y')a think the hot mic at the OPEC meeting has anything to do with this?

[master_rb]

roccman, it's easy to say but hard to do

one thing is for sure we're living in interesting times, how things will paly out is hard to predict, there's just too many factors

we're reaching PO, economic crisis, population limit (especially after PO it's going to be hard to support all those cities with food), not to mention GW, terrorism and other problems on the horizon all coming at about the same time

as far as amero goes, so far i see it as a buzz word, i just don't see Mexico with US and Canada. Mexico is more related to central and south america, do you know any mexican singers, actors, i can bet you that in south america they do, US and Canada is more related to europe then to latin america by culture, race, politics etc... also US and Canada differ with Canda having socialism and US capitalism - no easy relationship here either

i'm a fan of complexity theory where a small event at any time may lead to big changes with no central control over the whole system

you're right that dollar's dead, China and OPEC (plus bunch of other smaller entities) talk about changing it but they dont' have a streight path where to go, so far they just state the problem. US policies don't help the dollar either, nobody talks about spending except Ron Paul so there is no doubt that a crisis will happen sooner or later if nothing changes

now Iran, US can't attack Iran if there's no draft - Iran is three times bigger than Iraq, now with bush's 30% ratings starting a war with Iran is almost impossible unless something heppens to change people's attritude

anyway I dont' go beyon the obvious because I can't never get any prediction right

[RonMN]

Dollar no longer welcome at Taj Mahal

Quote:
With parts of the American economy in turmoil and the dollar rapidly losing its long-held position as the currency of choice, Indian authorities have calculated they are losing considerable sums of money by allowing foreign tourists to pay using greenbacks.

[roccman]

$this->bbcode_second_pass_quote('', 'N')ov. 20 (Bloomberg) -- Gold rebounded from the lowest price in three weeks after the dollar fell to a record against the euro, boosting the appeal of the precious metal as an alternative investment. Silver also gained.

[roccman]

down she goes...

74.63

http://quotes.ino.com/

[emersonbiggins]

74.56 - tanked 50 in the last 2 hours.

Got wheelbarrow?

[roccman]

RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

The panic of 08!!!

[Eli]

To be fair the guy who runs the Trends Research is kind of nutter.

[roccman]

$this->bbcode_second_pass_quote('Eli', 'T')o be fair the guy who runs the Trends Research is kind of nutter.

[Eli]

Yeah, I was going to follow it with but the guy is right this time.

It is kind of funny being here as the tidal wave crests. I think sometimes the economics are going to crash first, then things smooth out just enough and I think it will be fuel shortages associated with PO.

It really is splitting hairs though.

This whole mess is going to crash and when it does it will be total.

[roccman]

$this->bbcode_second_pass_quote('Eli', 'Y')eah, I was going to follow it with but the guy is right this time.

It is kind of funny being here as the tidal wave crests. I think sometimes the economics are going to crash first, then things smooth out just enough and I think it will be fuel shortages associated with PO.

It really is splitting hairs though.

This whole mess is going to crash and when it does it will be total.

[RedStateGreen]

$this->bbcode_second_pass_quote('roccman', '
')
The Finance Round-Up: November 23rd 2007

A more-or-less endless supply of bad news...

[Troyboy1208]

Jesus its 10:30 in the morning here and I need a drink

[threadbear]

Red State Green--Perhaps this will help your husband wake up. Roubini is one of the best out there:


Troyboy--Should we make that a double?

No one has predicted the downward-spiral in the market more accurately than Nouriel Roubini. Roubini is a Professor at the Stern School of Business at New York University. His analysis appears regularly on his blogsite, Global EconoMonitor. Last week's prediction was particularly dire and is worth reprinting here:

"It is increasingly clear by now that a severe U.S. recession is inevitable in next few months...I now see the risk of a severe and worsening liquidity and credit crunch leading to a generalized meltdown of the financial system of a severity and magnitude like we have never observed before.

In this extreme scenario whose likelihood is increasing we could see a generalized run on some banks; and runs on a couple of weaker (non-bank) broker dealers that may go bankrupt with severe and systemic ripple effects on a mass of highly leveraged derivative instruments that will lead to a seizure of the derivatives markets...

Massive losses on money market funds with a run on both those sponsored by banks and those not sponsored by banks; ..ever growing defaults and losses ($500 billion plus) in subprime, near prime and prime mortgages with severe knock-on effect on the RMBS and CDOs market.

Massive losses in consumer credit (auto loans, credit cards); severe problems and losses in commercial real estate...; the drying up of liquidity and credit in a variety of asset backed securities putting the entire model of securitization at risk; runs on hedge funds and other financial institutions that do not have access to the Fed's lender of last resort support; a sharp increase in corporate defaults and credit spreads; and a massive process of re-intermediation into the banking system of activities that were until now altogether securitized." (Nouriel Roubini's Global EconoMonitor)

http://www.marketoracle.co.uk/Article2875.html

[roccman]

At the risk of sounding even more extreme, I would be hard put to believe any reports that "consumer" spending in the days following Thanksgiving will match the hopes and wishes of economic officialdom. My own hunch is that average Americans are so maxed out on debt that they don't know whether to shit or go blind. Perhaps lot of them are willing to take a last step into fatal insolvency in order to put a plasma TV screen under the Christmas tree and appear as heroes to their families. If that's the case, it would only imply a greater bloodbath in credit card default thundering through the system in February and March, which would only deepen the carnage in collateralized debt instruments further up the food chain.

Kunstler's latest...

[mattduke]

Market implied probability of a 1/4 rate cut have decreased.
Market implied probability for a 1/2 point cut have increased.

The Federal Reserve Bank Of Cleveland