"I Dream of Another Recession"

[PhilsFan]

Trader on the BBC says Eurozone Market will crash - YouTube

The most honest trader in the world?

 

[kramwest1]

Wow.

I'm not sure I like hearing my fears out loud.
We'll see if he's right, but fear does breed fear.

 

[deep]

govenments don't rule the world, goldman sachs rules the world
and they do not care about people

 

[yolland]

Well, he benefits if his predictions/prescriptions come true, so if a little truth-telling/wishful thinking helps the panic along, so much the better for him.

 

[deep]

not much of a leap, predicting a 'fear' contagion in the Euro Union

I'd say it's at least a 5-25% possibility

 

[mama cass]

why the fuck is he smirking?

 

[Vlad n U 2]

He's a commie in disguise!1!11!

I wish that were true.

 

[Earnie Shavers]

You would *almost* think that guy just won a bet.

 

[Canadiens1131]

I am surprised Finance Guy got beaten to posting this. T'was on Zero Hedge recently

 

[Headache in a Suitcase]

i believe the proper place for this post would be the "we're fucked" thread... because, yea... we're fucked.

 

[mama cass]

he's causing a bit of a stir in The Guardian today, too! Brit media not sure if he's a hoax, but apparently a BBC investigation claims he's authentic...

Trader's Goldman Sachs comments spark BBC hoax claims | Media | guardian.co.uk

 

[mama cass]

well, he's being discredited in the British press... there is probably some truth to what he's saying though - our governments clearly do not rule the world - they are showing themselves to be incredibly inept in this ongoing crisis, and we are all pretty much left at the mercy of the big financial gamblers our banks and financial institutions have become...

BBC financial expert Alessio Rastani: 'I'm an attention seeker not a trader' - Telegraph

i can't believe he had the guts to go right out there and do that though! no wonder he was smirking! lol

 

[PhilsFan]

It doesn't really matter, though. The point is he basically summed up what traders really think. You didn't hear a shit ton of them coming out and saying, "He doesn't represent us."

I don't trust capitalism anymore than I trust the government. The only difference between socialism and the current state of America is that we're controlled by the wealthy instead of the government.

 

[financeguy]

I am surprised Finance Guy got beaten to posting this. T'was on Zero Hedge recently

Because I guessed he was not the real deal. A real trader, analyst or hedge fund manager, though some may indulge in the odd bit of hyperbole, will be less dramatic, more analytical and more specific - e.g., "I expect USD to appreciate to 1.25 against the EUR by end of Q4 2011", "I expect the Brent/WTI differential to narrow to $15 by Q1 2012", "Currently our fund is 25% in treasuries", etc.

Real analysts and traders are interviewed on Bloomberg and MSBNC any day of the week - this guy has not said anything particularly interesting or original. He has actually said very little at all, if you parse it carefully. As for the statement that markets and not governments rule the world, we hold these truths to be self-evident, no?

He is not a Peter Schiff, a Peter Thiel or a Hugh Hendry - he just a common-or-garden day trader and has as much 'right' to be interviewed by the BBC as I do.

 

[INDY500]

This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?

 

[kramwest1]

This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?

China can cash in a fraction of the precious metals they are hoarding.
(Or more likely, demand all of ours as payment.)

 

[financeguy]

This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?

Lots of countries have defaulted and recovered.

 

[deep]

China can cash in a fraction of the precious metals they are hoarding.
(Or more likely, demand all of ours as payment.)

China can buy Greece and send their iPhone/ IPad assembly workers there on an rotating annual holiday.

 

[mama cass]

This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?

the €2 trillion is the proposed Eurozone bailout fund, isn't it? not just for Greece - plenty of other countries in trouble or heading that way... that's why the ECB is trying to vote the higher rescue package thru...

 

[Canadiens1131]

This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?

Once debt to GDP ratio hits 150%, things get bad.

Greece is at 142 according to 2010 numbers, U.S.A. is projected to hover around 105 until 2016.

In short: the US has the gumption to pull itself out of a hole; Greece? Helllll naw.

 

[anitram]

This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?

The two situations are nothing alike for a million reasons.

Not the least of which is the fact that you have your own currency and can print money.

 

[deep]

but that does not negate the fact that Obama is spending money like he is on crack

 

[INDY500]

The two situations are nothing alike for a million reasons.

Not the least of which is the fact that you have your own currency and can print money.

You are absolutely right about that and barring a sudden manifestation of leadership in Washington we will continue to QE the money supply, monetize the debt and deficit spend our way to a more grandiose default or hyper-inflated dollar because of that reason.

 

[Irvine511]

it's really funny how the critiques of Obama continue to shift.

first, he was a radical socialist leftist undermining the constitution.

now, he's not a leader? i thought he was turning this country into the soviet union? how do you do that without actually, you know, leading?

please, make up your mind.

 

[financeguy]

it's really funny how the critiques of Obama continue to shift.

first, he was a radical socialist leftist undermining the constitution.

now, he's not a leader? i thought he was turning this country into the soviet union? how do you do that without actually, you know, leading?

please, make up your mind.

He doesn't openly rejoice in the unleashing of the US war machine upon defenseless third world countries, so from the point of view of the US radical extreme right, his leadership is up for question. Penis size is very important to these people in a leader - having a small one, and over-compensating by ordering in the weapons of war on a moment's pretext.

From the point of view of the sane world, he's slightly less of a cunt than Bush/Cheney.

Incidentally, and comparing Michelle to the murderess and the murderess's enormous white-haired MOL, not to mention that neurotic astrology-obsessed stick insect that served as Reagan's consort, it's refreshing, just for once, not to have a Stepford Wife in the White House.

 

[Vlad n U 2]

first, he was a radical socialist leftist undermining the constitution.

I once really badly wished it was true, as ridiculous as it sounds.

 

[INDY500]

it's really funny how the critiques of Obama continue to shift.

first, he was a radical socialist leftist undermining the constitution.

now, he's not a leader? i thought he was turning this country into the soviet union? how do you do that without actually, you know, leading?

please, make up your mind.

That was actually a critique of leadership from both parties in D.C. and state houses around the country over the past 10-12 years.

But sure, Obama is the undisputed debt king now.

 

[Irvine511]

But sure, Obama is the undisputed debt king now.

you do know, of course, what happened to the debt under Mssrs Reagan and W. Bush, yes? and that it's the Bush tax cuts that have exploded our debt, yes?

 

[PhilsFan]

No, no, it's spending! Decreased revenue has nothing to do with it. Go back to bed, Irvine.

 

[Inner El Guapo]

I wonder...if Congress came in tomorrow and somehow balanced the budget...and created a surplus to begin paying down the debt...

Would a President Romney and his Republican Senate and House then clamor for more tax cuts for the rich and ruin it all over again like in 2001?

The budget was balanced and there was a surplus only a little over 10 years ago.
But instead of paying down the debt, that surplus was mailed back to the public. And then they cut Taxes tremendously. And revenues spent the next six years in the shitter.

Oh. And basically about a million jobs were added in those 8 years of the Bush administration. Most of them Govt jobs.

You can't make this shit up.

There's no wonder jobs aren't being created over the last few years...there were barely any jobs being created before that. It's been ten years of a shitty economy for almost everyone.