I dont know if you keep track of the markets after hours...

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nullzero

Senior member
Jan 15, 2005
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EURO down over -1% against USD
POUND down over -.50% against the USD
AUD, NZD, JPY all down around -1% against the USD
GOLD up about 1.5% in USD and up significantly more if priced in the above currencies
DOW futures down over -100pts

And we got panic going around in Europe and Asia that all of Eastern Europe is insolvent....

I do not know what is going to happen tomorrow on the market but it looks like we have a major players in Europe and Asia unwinding their positions in just about everything except USD and GOLD.
 
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nullzero

Senior member
Jan 15, 2005
670
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Yeah the emerging countries in a lot of debt need to repay the majority of that debt in USD. Some of these countries include; Ireland, Spain, Hungry, Ukraine, Romania, and the list goes on. So there is a scramble for USD atm which is squeezing these countries toward default (it is already assumed a majority of them are insolvent already).
 
S

soccerballtux

Lifer
Dec 30, 2004
12,553
2
76
I'm assuming they need (want) to repay it before the exchange rate gets worse? [it's been getting worse for some time].
 
N

nullzero

Senior member
Jan 15, 2005
670
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0
Originally posted by: soccerballtux
I'm assuming they need (want) to repay it before the exchange rate gets worse? [it's been getting worse for some time].
Click to expand...

Yes they are getting squeezed into a corner. Its like if you had a debt over $20k with a CC where the rates were going up 1% over night against your balance.
 
Slew Foot

Slew Foot

Lifer
Sep 22, 2005
12,379
96
86
Isnt that good for the US though? If everyone wants $$$$ the value should go up, which should help keep prices down.
 
N

nullzero

Senior member
Jan 15, 2005
670
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Originally posted by: Slew Foot
Isnt that good for the US though? If everyone wants $$$$ the value should go up, which should help keep prices down.
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Bad for our exports in an already depressed economy. This tends to lead to protectionism to boost national consumption. Also the creditors in the U.S. would be happy about a higher value dollar... but not when there is a fear of not being paid at all.
 
TallBill

TallBill

Lifer
Apr 29, 2001
46,017
62
91
Originally posted by: Pliablemoose
<---Looks at 800 shares of GLD and strokes his hairless cat. :laugh:
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<---Skips looking at his index funds and goes to sleep :)
 
MadRat

MadRat

Lifer
Oct 14, 1999
11,999
308
126
China finally has a safe market for their $1 trillion cache of U.S. currency?
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Yeah futures are way down. There continues to be no reason whatsoever for the market to actually go up in the short term. ALthough I continue to say that I don't know why I've not dropped more equities. I guess I just cannot stomach it and am still in for the long term. It seems too easy for the dow not to drop below 7k at some point.
 
Pliablemoose

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
Originally posted by: Skoorb
Yeah futures are way down. There continues to be no reason whatsoever for the market to actually go up in the short term. ALthough I continue to say that I don't know why I've not dropped more equities. I guess I just cannot stomach it and am still in for the long term. It seems too easy for the dow not to drop below 7k at some point.
Click to expand...

I gave up, am >95% into bonds & metals. :(
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: Pliablemoose
Originally posted by: Skoorb
Yeah futures are way down. There continues to be no reason whatsoever for the market to actually go up in the short term. ALthough I continue to say that I don't know why I've not dropped more equities. I guess I just cannot stomach it and am still in for the long term. It seems too easy for the dow not to drop below 7k at some point.
Click to expand...

I gave up, am >95% into bonds & metals. :(
Click to expand...
You were pretty heavy in them before, though. I won't give up, damn it, I will watch dow close at 1k before selling!!

 
F

Fear No Evil

Diamond Member
Nov 14, 2008
5,922
0
0
We should probably vote to eliminate Presidential Term Limits for Obama.. I don't think we have any other choice.
 
shiner

shiner

Lifer
Jul 18, 2000
17,112
1
0
Has the world ended yet? I was busy sleeping last night and though my wife made me see god this morning I haven't had time to look out the window and see if it really all ended or not.
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
This

Has a fairly convincing case of why, if one can stick it out, equities are a nice thing to have at the moment. I've seen charts like this in the past for mortgages and stocks and they seem quite reliable over decades and confidently predict things like the housing bubble and stock bubble and based on P/E, at least, stocks are a worthwhile investment at the moment.
 
W

wwswimming

Banned
Jan 21, 2006
3,695
1
0
Originally posted by: nullzeroI do not know what is going to happen tomorrow on the market but it looks like we have a major players in Europe and Asia unwinding their positions in just about everything except USD and GOLD.
Click to expand...

i wonder how Canadian dollars will do in this situation.

until recently, their government has been running a surplus.

they're also exporting oil, uranium, other minerals.

plus they have plenty of water.

to me it looks like one of the more stable countries around, but the
Canadian dollar still fell a few percent against the USD in this latest
go-round.

 
C

CLite

Golden Member
Dec 6, 2005
1,726
7
76
Originally posted by: Fear No Evil
We should probably vote to eliminate Presidential Term Limits for Obama.. I don't think we have any other choice.
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WTF? How the fuck does a thread about late night market movements get trolled by some douchebag who got touched as a little kid by Obama. Is your intelligence so low you can't comment on anything besides your obvious hate of the man. <-- Note the period this was a rhetorical question.

Regarding OP: we have 3 threads now about Eastern Europe's insolvency? enough is a enough?
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: wwswimming
Originally posted by: nullzeroI do not know what is going to happen tomorrow on the market but it looks like we have a major players in Europe and Asia unwinding their positions in just about everything except USD and GOLD.
Click to expand...

i wonder how Canadian dollars will do in this situation.

until recently, their government has been running a surplus.

they're also exporting oil, uranium, other minerals.

plus they have plenty of water.

to me it looks like one of the more stable countries around, but the
Canadian dollar still fell a few percent against the USD in this latest
go-round.
Click to expand...
Yeah it is a bit strange and Canada has been in a better spot, but the adage of the US getting a cold and Canada the flu may hold true. A lot of Canada's manufacturing and economy in general is highly reliant on the US' well being.
 
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