[quote=“Mucha Man”][quote=“Elegua”]Elegua predicts dollar to fall again beginning in Q2. Next year will not be better…next year worse. Recovery at 2011 at the earliest and it won’t feel like a recovery.
Who want to put odds?[/quote]
It may fall but the NT is not going to strengthen much, if at all, which is what is most relevant to me: I am paid in US dollars most of the time.[/quote]
True - it’s a dirty float - for myself I’m okay as long as it stays above 35.
[quote=“Elegua”]Elegua predicts dollar to fall again beginning in Q2. Next year will not be better…next year worse. Recovery at 2011 at the earliest and it won’t feel like a recovery.
Who want to put odds?[/quote]
The Yi Jing master I consulted in Taiwan said the crisis would last four more years. 
The more I learn about it (the economic crisis, not Yi Jing), the more I think this is rather optimistic. The financial excesses might be the death throes of a system facing a structural crisis. Simply throwing more money at it wouldn’t fix it.
Eastern Europe: A collapse there would wreak havoc on Austria’s banks who lent more than 230 billion euros to the region (that’s more than 60% of Austria’s GDP).
First of all - MaPo how are you and when are your coming back?
Second - Congratulations of your new job with Soros.
Third - [quote]"Rick Santelli nailed it this morning. This is a man who is a trader on the floor of the exchange that provides primary liquidity to some of our most important capital markets in Chicago.He said, and I quote, that “confidence has been shattered because the rules of the game keep changing.”
That is exactly correct.
Banks and other institutions have been hiding the truth, they have claimed “protection” against events that is in fact not present (
the other guy doesn’t have any money to pay
) and leverage in the system remains excessive. Then, when the correct bets made (being short those institutions) are paying off, Chris Cox comes in and literally destroys them on purpose.
As a result The Fed is literally holding up every bank in the nation but this is not because of a “loss of confidence”; it is because everyone involved is lying, including The Fed and Treasury."[/quote]
So a [quote]trader on the floor of the exchange that provides primary liquidity to some of our most important capital markets in Chicago.He said, and I quote, that “confidence has been shattered because the rules of the game keep changing.”[/quote]
You will never let that “trickle down theory” go will you? If you were on the ground you might think differently. It is a disaster. Nobody is spending any money. No customers/ clients/companies/anyone. Double full stop. Complete capitalism shutdown. Who is left? You aren’t advocating Socialism are you???
Anarchy has no separating line between starting and stopping and Monarchy, uh who were they? Democracy lies in balance and where is that right now?
Cash/credit infusion or manipulation is not a long term solution. Consumer confidence with credit limitations is more sound. We are going to have to build it back from the ground up.
Do you really think a 72 year old candidate coupled with a third place “winner” in the 1984 Miss Alaska pageant should lead America? Or, do you think a junior senator with less than four years experience with a 64 year old populist/lobbyist VP should?
There were no legitimate candidates so you and the rest of us will pay a price.
You along with others took the bait. We offered resistance but obviously didn’t do it stridently enough.
Credit will collapse until almost no one can get it. Those that can will receive an interest that very few can repay. Most will default. If one defaults… Oh, wait that is another story. And we will back to the start again. And who wins?
And who wins?
I didnt vote for Obama, but now that hes gotten the job he wants. Lets hope he delivers !! Im rootin for him now. We gotta pull through.
People have to spend money. If they dont spend Capitalism dies. Thats what the bottom line is.
ESL can be the first to go if the teacher and buxiban management is lax. MPM might get them into a Chinese factory job or on a dorky math scholarship, but [color=#FF0000]English will enable them to get to the latest and most critical economic data before it’s filtered by all the Chinese experts in Taipei and Beijing who studied MPM… oh, shit, maybe we are f0cked[/color].
May the force be with us. And buy when the panic sets in and not before the bailout.[/quote]
You got it. :bravo:
[quote=“Mother Theresa”]Actually, many of us furriners don’t teach ESL (or anything else), such as moi. I work for a very large tech company. Our company is being seriously battered by the global crisis and our compensation will definitely be down this year. But, I’m not gonna weep about it. I feel extremely fortunate to have a good job and will just wait it out till this storm has finally passed. No biggie. In the meantime, I’m going to continue living to the fullest (but on a tighter budget).
Anyway, I’ll be curious to see what the financial/business news reports tomorrow re the OP. Will it be really bad? Possibly, but we already knew the global economy is sliding downhill at least in 2009Q1 and Q2, so it’s no surprise. Will I lose thousands more dollars? Probably, but that was also a foregone conclusion.
So, same old same old, daily economic disaster. No biggie. This is a year for exercise, self-improvement, etc., but not for financial gain. Financially this year will suck, but we’ll survive and next year will be better. 
[/quote]
I love your optimism, and I 
you’re right!!
That’s what they keep saying and, who knows, it may be true. It is funny though: We got into this horrific mess by spending way too much, so we need to spend more to get out of it. 
We got into this mess because we (the U.S.) no longer create the wealth necessary to sustain our standard of living but we refused to accept it by borrowing mountains of money we can’t possibly pay back.
Our solution is to borrow mountains of money we can’t pay back in one last desperate attempt to shore up our standard of living.
The party is over though and anyone who refuses to accept it is going to go down with the ship.
[quote=“Mucha Man”][quote=“Elegua”]Elegua predicts dollar to fall again beginning in Q2. Next year will not be better…next year worse. Recovery at 2011 at the earliest and it won’t feel like a recovery.
Who want to put odds?[/quote]
It may fall but the NT is not going to strengthen much, if at all, which is what is most relevant to me: I am paid in US dollars most of the time.[/quote]
Which I always suspected to be honest… it’s easier to hold a position that is counter to economic good of Taiwan when you don’t get paid in NT!
[quote=“elektronisk”]First of all - MaPo how are you and when are your coming back?
Second - Congratulations of your new job with Soros.
Third - [quote]"Rick Santelli nailed it this morning. This is a man who is a trader on the floor of the exchange that provides primary liquidity to some of our most important capital markets in Chicago.He said, and I quote, that “confidence has been shattered because the rules of the game keep changing.”
That is exactly correct.
Banks and other institutions have been hiding the truth, they have claimed “protection” against events that is in fact not present (
the other guy doesn’t have any money to pay
) and leverage in the system remains excessive. Then, when the correct bets made (being short those institutions) are paying off, Chris Cox comes in and literally destroys them on purpose.
As a result The Fed is literally holding up every bank in the nation but this is not because of a “loss of confidence”; it is because everyone involved is lying, including The Fed and Treasury."[/quote]
So a [quote]trader on the floor of the exchange that provides primary liquidity to some of our most important capital markets in Chicago.He said, and I quote, that “confidence has been shattered because the rules of the game keep changing.”[/quote]
You will never let that “trickle down theory” go will you? If you were on the ground you might think differently. It is a disaster. Nobody is spending any money. No customers/ clients/companies/anyone. Double full stop. Complete capitalism shutdown. Who is left? You aren’t advocating Socialism are you???
Anarchy has no separating line between starting and stopping and Monarchy, uh who were they? Democracy lies in balance and where is that right now?
Cash/credit infusion or manipulation is not a long term solution. Consumer confidence with credit limitations is more sound. We are going to have to build it back from the ground up.
Do you really think a 72 year old candidate coupled with a third place “winner” in the 1984 Miss Alaska pageant should lead America? Or, do you think a junior senator with less than four years experience with a 64 year old populist/lobbyist VP should?
There were no legitimate candidates so you and the rest of us will pay a price.
You along with others took the bait. We offered resistance but obviously didn’t do it stridently enough.
Credit will collapse until almost no one can get it. Those that can will receive an interest that very few can repay. Most will default. If one defaults… Oh, wait that is another story. And we will back to the start again. And who wins?
And who wins?[/quote]
One of the good things about posting at 2am is that things seldom seem as bad the next day and you can always go back and edit your post to “Double post” or something.
Why have almost all my wife’s classmates left Taiwan to work in foreign countries in the last 6 years…those that remain only hope is to work in govt. positions…ideology is largely a waste of time if you can’t live in the country you are born in.
[quote=“Huang Guang Chen”]Is that why gold’s on the march again?
HG[/quote]
Don’t depend on gold (or platinum and silver) unless it’s ingots or coins in your hands.
Most gold on the market today doesn’t exist; they are paper promises to deliver gold without actual metal in reserves to back it up. If everyone tried to cash in the paper all at once, the entire gold market would collapse, at least doubling if not tripling the price.
I’m curious about why you wrote that. Unless you’re struggling to make ends meet, have massive debt, or were/are planning on retiring this year, this year is a year for massive financial gain. Unless things get so bad that the markets completely collapse, there are widespread job losses to the point where you lose your job, etc., then it should be all peachy. Buy, buy, buy. While all those who lived/live beyond their means were/are sowing the seeds of their future poverty, this could very well be the year for sowing the seeds of your future wealth.
Didn’t someone (Buffett?) once say that bear markets are when shares return to their rightful owners?
I’m curious about why you wrote that. Unless you’re struggling to make ends meet, have massive debt, or were/are planning on retiring this year, this year is a year for massive financial gain. Unless things get so bad that the markets completely collapse, there are widespread job losses to the point where you lose your job, etc., then it should be all peachy. Buy, buy, buy. While all those who lived/live beyond their means were/are sowing the seeds of their future poverty, this could very well be the year for sowing the seeds of your future wealth.
Didn’t someone (Buffett?) once say that bear markets are when shares return to their rightful owners?[/quote]
That quote is attributed to Buffet, but I think this one that he told Forbes in an interview is better.
[quote=“Warren Buffett Quotes”]At the bottom of the bear market in October 1974 a Forbes article interviewed Buffett. Buffett, for the first time in his life, made public prediction about the stock market.
* "How do you feel? Forbes asked.
* "Like an oversexed guy in a whorehouse. Now is the time to invest and get rich."
[/quote]
Trying to time the market won’t work, but even during the Great Depression there were stocks that made money. Not everything goes down. People still have to buy food, buy oil, and other necessities like alcohol, cigarettes and booze. So my theory is invest in companies like Kraft (crappy, cheap food but a necessity) and avoid investing in places like Whole Foods (a mostly organic place which tends to be a luxury rather than a necessity). That and prepare to buy long term, because it’s going to be a bumpy ride.
wow I just negotiated a 43% pay increase
[quote=“Sleepyhead”][quote=“Huang Guang Chen”]Is that why gold’s on the march again?
HG[/quote]
Don’t depend on gold (or platinum and silver) unless it’s ingots or coins in your hands.
Most gold on the market today doesn’t exist; they are paper promises to deliver gold without actual metal in reserves to back it up. If everyone tried to cash in the paper all at once, the entire gold market would collapse, at least doubling if not tripling the price.[/quote]
I dunno I’d trust anything on rense.com. When he was talking about gold it for some reason reminded me of the dentistry scene in Marathon Man.
I’m curious about why you wrote that. Unless you’re struggling to make ends meet, have massive debt, or were/are planning on retiring this year, this year is a year for massive financial gain. Unless things get so bad that the markets completely collapse, there are widespread job losses to the point where you lose your job, etc., then it should be all peachy. Buy, buy, buy. While all those who lived/live beyond their means were/are sowing the seeds of their future poverty, this could very well be the year for sowing the seeds of your future wealth.
Didn’t someone (Buffett?) once say that bear markets are when shares return to their rightful owners?[/quote]
Massive gain? Most workers are worried about losing their jobs, many with outstanding debts. News is getting worse and recession rapidly accelerating to depression with US leading the bunch…check today’s news about GM/Chrysler. Many stocks will be completely wiped out in the next few years, Buffett has lost billions of dollars as has Singapore buying too early…They should keep out of the market and so should most people for a couple of years at least.
this looks rough…
where I live only the high end homes have lost value…many average priced homes and land people still have not changed their thinking…but the high end junk has been hit pretty hard…
many older folks that were planning on retiring are not…savings have dropped too much plus fear about the future is making people want to continue working
[quote=“Sleepyhead”][quote=“Huang Guang Chen”]Is that why gold’s on the march again?
HG[/quote]
Don’t depend on gold (or platinum and silver) unless it’s ingots or coins in your hands.
Most gold on the market today doesn’t exist; they are paper promises to deliver gold without actual metal in reserves to back it up. If everyone tried to cash in the paper all at once, the entire gold market would collapse, at least doubling if not tripling the price.[/quote]
I dunno I’d trust anything on rense.com. When he was talking about gold it for some reason he reminded me Laurence Olivier’s sinister, gold obsessed Nazi dentist in Marathon Man.
Still I shouldn’t be al ad hominemy on him. Every so often, like a stopped clock tells the right time, a crazy anti semitic conspiracy theorist will get something right.