The decline was minimal, but the yuan lost value against the dollar in Q1, the first quarterly drop since Dec. 2009. With economic growth slowing and capital starting to flow out of China, the direction of the currency is no longer a one-way bet. [View news story]
It now begins: It is quite unusual how the U.S. has turned a blind eye to this "or maybe they just don't give a damn", however the BRICS are going to do trade WITHOUT the use of the U.S. dollar.
The BRICS held a conference yesterday to set up trade without the use of the dollar in order to start using currency that has some value, further more not having to put up with the arrogance of the western countries.
So, to put this plainly, we are screwed, dollar will no longer be the world currency and it will massively devalue.
We need to stop worrying about every little correction in the stock market and more about jobs, says Ken Langone. He says unemployment is higher than the official rate of 8.3% because of the many people who have given up looking. If included, the unemployment rate could be as high as 13%. We have hardcore unemployment in America, Langone says, "What do you do about that?" [View news story]
Okay, not sure I would ever see this, Langone stepping up to the plate and stating that the unemployment figure is WRONG. Kudos. Could it be that MSM is finally starting to see the light. Hmm, time will tell, will it make a difference? I wished that it would, then we could actual try and fix the problem. There is no need to lie to the public and keep the media from voicing the truth!
A new report from the NY Fed adds to fears that soaring student loan debt is a ticking bomb, as it estimates as many as one out of four borrowers carry a past-due student loan balance. The report puts the latest outstanding student loan balance at $870B, more than total credit card debt ($693B) and what people owe in car loans ($730B). [View news story]
I am the last of the Baby Boomers, and speaking for myself, I was brought up to respect my elders, work hard, AND IF I OWED MONEY TO ANYBODY "BANK, PERSONAL, hell even FAMILY who didn't even want repaid, YOU PAID IT BACK AND THEN SOME, PERIOD". I am so tired of this worthless banter, you borrow money, PAY IT BACK! Even when times were tough, you knuckled down, and you felt like you accomplished something, even if it was for your own self esteem. I passed on those ways of doing business with my children, I wished the rest of the country would too!
Caterpillar (CAT): Q4 EPS of $2.32 beats by $0.55. Revenue of $17.2B (+34.6% Y/Y) beats by $1.15B. Shares +3.5% premarket. (PR (.pdf)) [View news story]
Geoffrey, I since some hostility. Don't forget I'm on your side. Yes, you are right to a certain extent, they "CAT" do stick it to the state's, muni's, cities and so on. Never the less, the are selling the hell out of them to foreign countries to the likes of China, So. Korea, etc. It is better we have "Cat's" in our state yards, then Komatsu's or Hyundai's. Believe me if you read half of the material I write you will see I am not happy with the way things are playing out. The U.S. will need some major reform to get back to our glory days. Good day!
Caterpillar (CAT): Q4 EPS of $2.32 beats by $0.55. Revenue of $17.2B (+34.6% Y/Y) beats by $1.15B. Shares +3.5% premarket. (PR (.pdf)) [View news story]
Bravo Caterpillar, excellent work for an American Co.. I like to see that there is still a U.S. based company doing well "the old fashion way, through hard, hands on work". With this being said the majority of the U.S. companies are doing sub-par, so you people "aka lemmings" out there bidding the other companies up in the stock market should hold off. One good apple does not make the rest of the rotten apples in the basket tasty. It will just make you sick... Do your due diligence.
The IMF is reportedly pressing the ECB and other entities to take writeoffs on Greek government bonds despite facing ongoing deep resistance. Christine Lagarde dances around the issue - telling reporters that the balance between the participation of the private and public sector is a "concerning question." [View news story]
I didn't expect anything else, this is the typical KITING dance. We here in the U.S. are the masters of Kiting. No money, all paper, and the people are still rejoicing, thinking there is nothing wrong and spending the money they don't have on I-phones and I-pods...
Traders Discouraged By Greek Debt Woes [View article]
I am not a financial analyst and those who claim to be are simply re-posters of others analyzations. I have traveled beyond the confines of the U.S. and can make my own deductions of the world. Personally I could care less if the markets go up or down. Wall Street among others are euphoric only for the reason of greed. As we all know, greed breeds only more greed "an addiction". As an unbiased individual "no blinders needed" I truly live my life like my title "withnmeans". If one does this, you not only have a clear conscience, no debt, but not so concerned about the markets.
Everybody can point fingers of blame, the Huddle masses blame the Banks and Government, the Banks blame the Masses and the Government, and the Government "well you can come up with you own conclusion".
Truth be told, they are all to blame. The Masses over spent and they still do, they didn't learn anything from the housing crash, Lehman, etc... The Banks focused on greed only, which they are in the business to make money, but when is it TOO MUCH "we are now finding out". Then there is Government, Hmmm, I don't have the time or the will to elaborate now, you can fill in the blank "here".
We can write, talk, draw conclusions, etc. Where does it get anyone, as the Great Restructuring begins, the only thing we can do is work hard, save, pray to your God or not, and find time for family and friends, then you can live a good life and see that its not all about MONEY.
Traders Discouraged By Greek Debt Woes [View article]
Just as death is a great equalizer (ex. we are all equal in the ground, except for those of us with a conscience). A depression is an equalizer of a different sense, yes it sounds quite disturbing however I believe it maybe what is needed in our society today. Before you think (what the hell is he thinking) give it some thought. There is a great rift, a disconnect from rich to poor, not just here in the U.S. but around the world. World prices are way over inflated, not that Wall Street would care. The poverty stricken have no way to "hunker down" so to speak. These depressions come in cycles for a reason, to equalize the system. Yes, with a depression brings about great turmoil and pain. Big governments are the cause of these incursions, every time they meddle in the balance of free markets. Yes we all want or children to have more then what we had, however this comes at a cost eventually (ex. You increase minimum wage = A raise in product price = inflation = a viscous cycle). The slate will need to be equalized again..............
Italy And Spain Launch Frontal Assault On German Austerity [View article]
RS, I'm sorry I don't agree with you, however I do agree with James on this one. I'm not sure when or if ever you have been to Europe, more specifically Italy or Spain. Unfortunately for Italy, it is in dire need of a major overhaul of infrastructure and political reform. The country is full of beggars and thieves, not to mention the sad tired faces and over all lack of trust with each other. I love Italy, but I don't think I will return until they clean up their act. As for Spain, I believe they are in better shape, they have better infrastructure and the people are much more resilient. I think the Spaniards need to go through a deflationary period, as much of Europe is very expensive and overly inflated. My suggestion to you and other viewers is to hop on a train in Europe and see for yourselves, then you can understand what is going on. My opinion is there must be a major resetting and there maybe collateral damage!
The White House denies the rumor of a massive mortgage refinancing plan, letting the air out of Bank of America (BAC +8.6%) shares, -2.2% AH. The chatter had sparked BofA to the top of the S&P leader board and seemed to pull the rest of the market out of the doldrums. It was the fifth straight up day for BofA shares, something that never happened in 2011. (also) [View news story]
200% That's the way the fraudsters work it on Wall Street.
Fed Dollar Swap Quote Of The Day: 'Foam On The Runway' [View article]
Precisely ! I'm not sure how many people have traveled to Europe lately, the sad faces are everywhere. You can definitely sense that all hell was about to break loose. I traveled Spain, France, Switzerland, and Italy this summer "not the first time" and it is downward spiral. Oh, Switzerland still was very busy and beautiful. Just hop on a train in Italy and you will quickly see "Sorry Italy". Spain, beautiful but the people were very depressed "Sorry Spain". France, needs to control their immigration problem, a lot of distrust issues "Sorry France".
The decline was minimal, but the yuan lost value against the dollar in Q1, the first quarterly drop since Dec. 2009. With economic growth slowing and capital starting to flow out of China, the direction of the currency is no longer a one-way bet. [View news story]
The BRICS held a conference yesterday to set up trade without the use of the dollar in order to start using currency that has some value, further more not having to put up with the arrogance of the western countries.
So, to put this plainly, we are screwed, dollar will no longer be the world currency and it will massively devalue.
We need to stop worrying about every little correction in the stock market and more about jobs, says Ken Langone. He says unemployment is higher than the official rate of 8.3% because of the many people who have given up looking. If included, the unemployment rate could be as high as 13%. We have hardcore unemployment in America, Langone says, "What do you do about that?" [View news story]
A new report from the NY Fed adds to fears that soaring student loan debt is a ticking bomb, as it estimates as many as one out of four borrowers carry a past-due student loan balance. The report puts the latest outstanding student loan balance at $870B, more than total credit card debt ($693B) and what people owe in car loans ($730B). [View news story]
Even when times were tough, you knuckled down, and you felt like you accomplished something, even if it was for your own self esteem.
I passed on those ways of doing business with my children, I wished the rest of the country would too!
Caterpillar (CAT): Q4 EPS of $2.32 beats by $0.55. Revenue of $17.2B (+34.6% Y/Y) beats by $1.15B. Shares +3.5% premarket. (PR (.pdf)) [View news story]
Caterpillar (CAT): Q4 EPS of $2.32 beats by $0.55. Revenue of $17.2B (+34.6% Y/Y) beats by $1.15B. Shares +3.5% premarket. (PR (.pdf)) [View news story]
The IMF is reportedly pressing the ECB and other entities to take writeoffs on Greek government bonds despite facing ongoing deep resistance. Christine Lagarde dances around the issue - telling reporters that the balance between the participation of the private and public sector is a "concerning question." [View news story]
Traders Discouraged By Greek Debt Woes [View article]
Everybody can point fingers of blame, the Huddle masses blame the Banks and Government, the Banks blame the Masses and the Government, and the Government "well you can come up with you own conclusion".
Truth be told, they are all to blame. The Masses over spent and they still do, they didn't learn anything from the housing crash, Lehman, etc... The Banks focused on greed only, which they are in the business to make money, but when is it TOO MUCH "we are now finding out". Then there is Government, Hmmm, I don't have the time or the will to elaborate now, you can fill in the blank "here".
We can write, talk, draw conclusions, etc. Where does it get anyone, as the Great Restructuring begins, the only thing we can do is work hard, save, pray to your God or not, and find time for family and friends, then you can live a good life and see that its not all about MONEY.
Traders Discouraged By Greek Debt Woes [View article]
Italy And Spain Launch Frontal Assault On German Austerity [View article]
I'm sorry I don't agree with you, however I do agree with James on this one. I'm not sure when or if ever you have been to Europe, more specifically Italy or Spain. Unfortunately for Italy, it is in dire need of a major overhaul of infrastructure and political reform. The country is full of beggars and thieves, not to mention the sad tired faces and over all lack of trust with each other. I love Italy, but I don't think I will return until they clean up their act. As for Spain, I believe they are in better shape, they have better infrastructure and the people are much more resilient. I think the Spaniards need to go through a deflationary period, as much of Europe is very expensive and overly inflated. My suggestion to you and other viewers is to hop on a train in Europe and see for yourselves, then you can understand what is going on. My opinion is there must be a major resetting and there maybe collateral damage!
The White House denies the rumor of a massive mortgage refinancing plan, letting the air out of Bank of America (BAC +8.6%) shares, -2.2% AH. The chatter had sparked BofA to the top of the S&P leader board and seemed to pull the rest of the market out of the doldrums. It was the fifth straight up day for BofA shares, something that never happened in 2011. (also) [View news story]
Fed Dollar Swap Quote Of The Day: 'Foam On The Runway' [View article]