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Originally posted by GreenBicMan
I don think we would be the "USA" anymore.. perhaps apart then of the NWO.. if you think the SP500 could go to 50,000 (not saying you do) I also think you should consider not living in the "america" we know anymore.. thats just my opinion of course
Originally posted by cpdaman
GBM looks like uncle Ben molested you ....i don't know why you hold out hope for this fella....
keep postin' i enjoy your insights.....and opinions
anyone think the gold price has a ceiling around 1250 due to the lack of world Jewelry demand
50,000 Dow ....in the wake up deleveraging and the biggest credit boom going bust.....hgh unemployment...and a broken consumption model.....what are we smoking today......oh ya it will be that "magick inflation" geenie ......ya minimum wages will go to 30$ and ave. salary will go to 200,000$.......sold to you
[edit on 3-6-2009 by cpdaman]
the shenanigans I warned about last Friday continue with JPMorgan (JPM) using OUR TARP MONEY to rent a 2M barrel tanker in order NOT to deliver heating oil to US consumers so they can jack up the price. At $35,000-40,000 a day, JPM is using the money our government gave them at a rate of $1M a month to keep $130M worth of oil (that they bought with the money our government gave them) out of the weekly inventory report where those barrels may harm JPM’s speculative position. HOW IS THIS EVEN LEGAL? This is PURE speculation. JPM has no need for this oil and no clients looking for delivers - they are buying oil for the sole purpose of driving up prices and selling it for more than they paid for it, creating a false demand for 2M barrels (and this is just one example out of hundreds) when there is, in fact, a record global glut.
So let me see if I get this right.
The Taxpayer hands JP Morgan billions of dollars to bail them out and keep them from potentially being declared insolvent.
In return for this JP Morgan spends that money speculating on the price of oil, and in fact does one better - they take physical delivery and lease a ship to store it in, thereby withholding the oil from the market and propping up the price, hoping to be able to sell that oil at a higher price later.
In the meantime, however, they are partially responsible for the rise in gas prices, meaning that not only did they collect taxpayer money once, but they are effectively partly responsible for you the consumer paying a second tax, this time through higher fuel prices at the gas pump.
Then, when the time is right (for them) they will sell the oil and profit a second time.
You, the taxpayer, will pay for all three of these actions.
And we, the idiots in America, along with a bribed and purchased Congress, will allow them to get away with it.
Originally posted by RetinoidReceptor
Bill Gross from Pimco: Obama should cut spending AND raise taxes.
We all knew it would have to happen eventually.
Inflation is likely three to five years down the road, and investors should stay relatively close to the front end of the yield curve where the bond prices are protected by the Fed position of low Fed funds and interest rates, said Bill Gross, co-CIO and founder of Pimco.
But the Fed must tread carefully here. These purchases result in an expansion of the Fed’s balance sheet, which ultimately could have inflationary implications. In turn, nervous holders of dollar obligations are beginning to look for diversification in other currencies, selling Treasury bonds in the process.
Originally posted by disgustedbyhumanity
reply to post by fromunclexcommunicate
Ive long said that the only people that should be allowed to buy and sell commodities are those who produce it and take eventual delivery. We cannot let Wall Street hedge funds determine the prices of the commodities that our economy and well being rely upon.
If we stopped letting the big money jerk such things around they would be forced to invest the money in real businesses with real jobs and real products. Our economy sucks because it is all based on short term paper profits.
[edit on 3-6-2009 by disgustedbyhumanity]
Originally posted by GreenBicMan
reply to post by GreenBicMan
Oh, and where do I think we are headed on the short term?
Prob around 8200-8400 on the dow...
I think today was pretty telling
Poised to take profits after watching stocks climb higher in each of the four previous sessions, participants drove broad-based losses. However, the major indices were able to limit their decline by attracting enough support to make a strong finish.
Originally posted by pause4thought
reply to post by disgustedbyhumanity
Some interesting data there, dbh. Nice going. A good talking point.
The longer-term trend still clearly points downwards, all the same:
Another aspect of the overall picture worth bearing in mind as we reflect on future prospects for economic growth is the national debt in the US (-not to mention in other developed countries):