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hang on boys and girls,,,,it's gonna get bumpy....

Discussion in 'Off Topic Threads' started by bigdogtx, Jun 1, 2011.

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  1. bigdogtx

    bigdogtx Well-Known Member

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    hang on boys and girls,,,,it

    "The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.

    "It seems that almost every bit of data about the health of the US economy has disappointed expectations recently," said Riddell, in a note sent to CNBC on Wednesday.

    "US house prices have fallen by more than 5 percent year on year, pending home sales have collapsed and existing home sales disappointed, the trend of improving jobless claims has arrested, first quarter GDP wasn’t revised upwards by the 0.4 percent forecast, durables goods orders shrank, manufacturing surveys from Philadelphia Fed, Richmond Fed and Chicago Fed were all very disappointing."

    "And that’s just in the last week and a bit," said Riddell.

    Pointing to the dramatic turnaround in the Citigroup "Economic Surprise Index" for the United States, Riddell said the tumble in a matter of months to negative from positive is almost as bad as the situation before the collapse of Lehman Brothers in 2008.

    "The correlation between the economic surprise index and Treasury yields is very close, so the lesson is that whatever your long term macro views are regarding hyper inflation vs. deflation or the risk of the US defaulting, the reality is that if you want to have a view about government bond prices, the best thing you can do is look at the economic data to see what’s actually going on," said Riddell.

    "And right now, the economic data is suggesting that however measly you may think a 3 percent yield is on a 10-year Treasury, the yield should probably be a fair bit lower given what’s going on in the US economy," said Riddell.

    "You’ve also got to wonder at what point the markets for risky assets start noticing, too."

    "QE3 anybody?" asks Riddell."
     
  2. bigdogtx

    bigdogtx Well-Known Member

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    Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.

    "What we’ve got right now is almost near panic going on with money managers and people who are responsible for money," he said. "They can not find a yield and you just don’t want to be putting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.

    "We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake."

    Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.

    "Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything," Yastrow said. "We’re on the verge of a great, great depression. The [Federal Reserve] knows it.



    "We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."

    However, he said he wouldn’t sell stocks.

    "Any bears out there better be careful because the dividend yields on these stocks look awesome relative to all the other investment vehicles out there," Yastrow said. "So bears are going to have to find a new way to express their discontent with the U.S. economy."
     
  3. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Deplorable Bitter Clinger in Liberal La La Land
    Fah. Chicken Little hogwash. Zero the Clown says the recession is over.
     
  4. halfmile

    halfmile Well-Known Member

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    "the recovery is in its second year".

    "the check is in the mail"

    "this will only hurt a little bit"

    Hee Hee.

    HM
     
  5. wireguy

    wireguy TS Member

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    The bottom line is this: The government, mostly the federal, is injecting huge amounts of the most poisonous substance known to man into the economy. That substance is uncertainty. The business of business is risk taking. Businesses look around them and predict what they think is going to happen and attempt to position themselves to take advantage of what they see. Obama and company have created so much uncertainty about the future with all their illegal and unconstitutional law making and corruption that it is now impossible for anyone to make an accurate assessment about the future on which they can take a calculated risk in the hope of making a profit. Thus almost no one starts a new business venture, expands an existing business, or hires new or more employees. No one is making money so no one is spending money, so no money flows through the economy. America is now every bit as corrupt as Mexico. Take a look at Mexico's middle class. That's where we are headed.
     
  6. otnot

    otnot Active Member

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    You folks need to start to read Zerohege if you really want to know what is going on. It's not pretty.
     
  7. R.Kipling

    R.Kipling Well-Known Member

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    We could get past this latest difficulty, if the 'clueless' Wall Street thieves would just give back the Billions and Trillions that they scammed out of the Treasury in the first place. That includes the billions that they sent to Europe's banks and the $30 Billion that Nancy and Barney slipped to Qaddafi's bank. Bail-Out, my A$$, more like burying the unwashed masses.


    We are a nation of Dung Beatles!

    Debt is the currency of Slaves!

    Kip
     
  8. otnot

    otnot Active Member

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    What the banksters are going to do is let the stock market crumble until wall street begs them for more money. Then we will see QE3 and more inflation. The end is near, and you better start preparing for it with food,bullets and gold and silver and enough cash to pay your property taxes.

    Jim
     
  9. Leo

    Leo Well-Known Member

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    The Bible says the borrower is subject to the lender, ie: you become a slave. That economic truth will continue to play out in the future. The Federal proceedure of borrowing money to artifically make the economy look better is pretty short sighted.
     
  10. shannon391

    shannon391 Active Member

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    Gold is the money of kings

    Silver is the money of noble men

    Barter is the money of peasants

    Debt is the money of slaves
     
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