Wednesday on the Markets . . .

reply to post by stander


I work... gave in and took a job .. and they don't allow access to ATS!



Mainer

Yes Citi did this with me. I have been a cardholder for 17 years, never late. They moved the date up such that if I received the bill on Monday and paid it when I do my bills every Sunday It would not reach in time. I confronted them about it, and left them for greener pastures.

I have never been late on a Credit card payment.. never not paid.. never had my interest rate increased.. never over drafted..

Last month Chase changed my due date by 2 weeks .. I missed it obviously because I don't check it everyday .. $40 charge.. I called, bitched them out.. they said they had the right to change the date... 3 weeks later, not even a month, they made the due date. Obviously I missed it again .. two due dates, in the same month .. then they jacked my interest rate up an additional 20% .. charged me another $40 .. then charged me 13% interest on the two late payments? ..

My Citi and Capital One cards have all done similar fluctuations .. I will never take out a credit card again, I will pay these off and I will put all my cash into a Credit Union. These big bankers can kiss my arse.

RR

Money (cash) is an asset. An asset that allows you to diversify assets (through purchasing power) which in turn increases equity (what is owned/benefited by the "owners" or people). Assets=Liabilities+Equity

Equity is generated from Assets, which in turn is Cash, which can be used to increase asset holdings and thus, further equity and or cash reserves..

Big circle. Anything that fluctuates is in some form equity..

Especially if your into Forex markets.. Cash is by all means tradeable .. falls, rises.. can generate quite a good load of money.. Cash is traded by volume and level far more then all stocks combined..

Originally posted by Rockpuck
Especially if your into Forex markets.. Cash is by all means tradeable .. falls, rises.. can generate quite a good load of money.. Cash is traded by volume and level far more then all stocks combined..

*shudder*
I tried playing the forex once. Didn't go so good. I just stick to the sidelines now.

Originally posted by Rockpuck
reply to post by stander

 

I work... gave in and took a job .. and they don't allow access to ATS!

As long as they allow access to Japanese stock exchange.



Your "broker" can hardly walk. Two bags full of cash. What a day . . .

Hi There,

If I may I would like to present something of a naive assumption. I would expect Monday to see gains in the markets, nothing colossal, just a bit of shoring up, but I do feel that come Tuesday or Wednesday, we will see the markets slipping again...

I apologise for quoting myself, but I expected the markets to slip and slide again, as I believe many of us thought they would. I gave the wrong reason for why they would do so, but with fears of the recession, that was another bone for which to contender with. It is these fears of recession that will really do the damage, because they are fears of reality.

Here in the UK we're expecting some real damage done to the employment figures (currently at 1.79 million unemployed, and inflation at its highest for many years), with a potential of up to a million losing their jobs over the coming months into 2009. Sometime over the period of this recession, I would expect to see regional conflicts breaking out, as countries begin getting desperate regarding their economies. I believe Obama will make it to president, but will have a nightmare first term, and if he makes it throught to the end of it...well, I'll be surprised. Just speculation arising from bad empathy.

Best wishes

reply to post by Mainer


Banks are desperate but the local banks are not lending, specially for unsecured loans, my daughter applied for a loan to pay off a credit card that she got when she was in college and the interest is just too high, first the Bank of America denied to lower the interest because she was late two years ago!!!!!!!!!!!!!!!!now the bank she works for and she applied for the unsecured loan even with "perfect credit score" told her that any personal loans have to be cleared by the government !!!!!What!!!!! even she doesn't understand what that means.

So lending is still frozen due to the fact that is a scare that the American consumer can not pay for the loans, neither for the credit cards in the current financial crisis we are having.

Regardless of what the government is telling the crisis is hitting no only the markets but every American consumer one way of the other, but while one side gets to be bailed out the other side and the bigges side just get to pay for the bill.

reply to post by ANNED


That is right, the prediction for the holidays is all about bargains, bargains and more bargains, I went to my local mall recently and the sales is just unbelivable, the big names stores are selling for 50 and seventy percent and still the malls are empty.



[edit on 16-10-2008 by marg6043]

Originally posted by RetinoidReceptor

Originally posted by Rockpuck

Money is equity.. in another form .. currency to currency.

Money (cash) is an asset. An asset that allows you to diversify assets (through purchasing power) which in turn increases equity (what is owned/benefited by the "owners" or people).

Assets=Liabilities+Equity

[edit on 15-10-2008 by RetinoidReceptor]

Money is a marker of agreed value(place holder) within a certain reference point(market)

Equity is potential money(value) that has not been realized(spent)

The equity value is only potential(speculative) until it is realized into the market.

Equity (as money) is only an asset when it is spent on real goods and services

The true value of the goods and service does not change only the perceived market value(price) as exchanged for money in a given market(economy)

Equity can be traded as an instrument of value, however the trade value can only be speculative until the equity is realized.

When the derivative option(what the original equity is based upon:mortgage, property value, ect.) is unknown due to multiple speculation trades, the buyer assumes all the risk of the market realization of the equity.

Eventually a potential equity buyer will need to determine the realized value of a potential buying option, this is a market call.

Market call is the point where equity assets can become liabilities,if the realized value is less than the speculated value(audit).
When this happens multiple times due to multiple trades of the same equity,it is known as a market collapse.

The market corrects itself to the realized value(current) of its equity speculation(potential).

That specific collapsed equity market can no longer function unless there is more speculation on the existing market value, That is where the bailout fits into the equation.

The bailout is designed to inflate the market speculation(increase the price without effecting value). This inflation creates (debt/credit) margins to allow function (trades) in the market

The bailout functions only to perpetuate the market and allow the market makers(large investment firms) to generate capital through transaction fees and new investor speculation.

However the same collapse will result whenever the market is called to realize true value.

All money is debt, value is perception.

Only goods and services are real

reply to post by NWRHINO


Long winded....

But I liked it!

]post by Rockpuck[/url]


Hey Rock, that is crazy the situation with citi. I for one will never get a card with them. Apparently some people are having the same issue you are having with that card. Citi Floating Due Dates
As for the guy who said

Looks like the 250 billion didnt work.

We dont know that yet. THose banks havent even seen that money yet. It will be month before we know if this plan works. And the market is going to be crazy for awhile. So these post everyday how much the market gains or loses are rediculous.

reply to post by tide88


Citi major investors are "Singapore and the Arab nations", if I am not mistaken, they got their piece of it last year when they started to have financial problems, as majority holders they pretty much dictate how their investment firm are to handle business affairs and policies.

reply to post by marg6043


Are you serious!?! That is not even right. The government has to approve the loan????? What kind of crap is that??

reply to post by mrsdudara


That is what my daughter is trying to figure out, no even her boss understand what that means but that is what the upper up is telling down to the lower levels.

I wonder what in the heck they mean be government has to approve the loan.

Now when it comes to the federal credit unions (the bank my daughter is working at is not a federal credit union but a small local bank) is different I guess the bigger the bank the less hazards the people encounter when applying for personal unsecured loans.