The crysis happened precisely because banks acted rationally. They responded to the implicit guarantees of US gov mortgage companies who bought the mortgages the banks originated- the banks signed the mortgages while the government took the risks. ...

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You can demand what you like with your social contracts. The people actually owning the wealth have decided not to pay for it and they already shipped all the production infrastructure out of the west while you werent looking. Guess what that means ...

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No. Not necessarily. As I said I expect to find a place to go long in the next 3 days tops. During that time I'd expect it to either go sideways or make a new low. I really dont have a good idea, but I wouldnt be at all surprised to see a new drop ...

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The only prerequisite for capitalism is as much non-interference from the state as possible. What you have now is a privately owned economy with psychotic states on top constantly pushing buttons and sabotaging the economy and then wondering why ...

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Yeah, they steal- so far they mainly steal purchasing power that would otherwise belong to the workers. As long as that's true they'll still attract investments.

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Still a supply/demand issue- just like a billion chinese suddenly added to the labor pool or peak oil. The obvious way to increase your take home pay would be to move to a place like Hong Kong or one of the low tax swiss cantons if you're willing ...

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I'm expecting a retracement up next, then down again- maybe a new low- and then substantially up for a new high or at least double top. That would be my assessment atm.

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Fundamentally you wouldn't expect it to go up with all this Cyprus business, but since I'm not a fundamentalist... Often at the point of greatest eurozone crysis the euro begins a climb. Go figure.

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Yes. When a factory in the west is no longer profitable because of the high labor cost, regulatory cost and taxes it gets dismantled and shipped to China where it's more productive. Where's the mystery in that ? Capitalism works- it generates wealth ...

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My estimation on how much longer we could stay here or go lower is 2-3 days. Maybe 1 day if theres lots of volatility and then up.

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Theres no way that's gonna work. The reason is the wealth of the 1% that they don't consume is not a cost to society- only the money that they spend on yachts and such is pulling away resources that otherwise might have been consumed by everybody ...

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I was expecting to reverse my almost two month old short Friday but things didnt quite align right so I kept it. At this rate i expect to put in a long in about 2-3 days I reckon. What you think ? I mean I'm expecting quite a substantial move up ...

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The standard of living in the west is never gonna return to what it was. It was decided to have a free trade world that includes India, China and all of south east asia. The only way this equation balances is with living standards in the west coming ...

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I don't think you get it. Losing money through depreciation is quite different to losing it to confiscation. If you're rich you invest your money and avoid inflation. Perhaps those bank deposits were used for bank guarantees for investments: that ...

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Of course you may be right. Still the fact remains. Who the heck will consider cyprus safe anymore for banking ? By extension the EU as well. If you have a choice where to put your money (and you do) why choose Europe ? These people are morons. ...

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Social security. Most people have almost zero savings/401k/IRAs. The people counting on social security are not gonna be happy campers by the time this shit is over. Also theres medicare, medicaid, obamacare, food stamps- good luck with that too. ...

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Yeah well, I don't think many people will appreciate that assumption that it's ok to steal their money overnight, whatever the excuse. Also only 20B is russian money out of 70 or so. And you assume wrong that banking is not important for Cyprus- the ...

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Perhaps because people don't actually care much about the euro but they do care about preserving their wealth ? If you have a choice between putting your money in a jurisdiction where you can have any portion of it confiscated over night or ...

EURUSD

Why do you want him to lose money ?

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Yeah. I saw it messed up your trade. Hopefully it does wonders for my short but I doubt it. Too late in the day.

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