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Getbig Main Boards => Politics and Political Issues Board => Topic started by: The Luke on September 22, 2008, 03:46:29 AM
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Monday 22 September '08 (11:45am GMT)
Just posting this so I can say I told you so...
I've heard a rumour that the stock market rally over the past few days will be undone later today by either:
-a huge drop in the market
-run on the dollar
-surprise devaluation of the dollar
...could someone such as NeuroToxin who understands all of this please tell me if any of this doom-mongering is actually plausible?
The Luke
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Monday 22 September '08 (11:45am GMT)
Just posting this so I can say I told you so...
I've heard a rumour that the stock market rally over the past few days will be undone later today by either:
-a huge drop in the market
-run on the dollar
-surprise devaluation of the dollar
...could someone such as NeuroToxin who understands all of this please tell me if any of this doom-mongering is actually plausible?
The Luke
last week the Fed. put a Bandaid on an open gapping wound and "the patient" is still hemorrhaging. ;)
NT
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NT,
The reasoning behind the apocalyptic rumours seems to be that:
...having considered their exposure and having finally taken a long hard look at America's oft-neglected balance sheet, traders/institutions/governments are going to dump the dollar in favour of commodities such as gold, platinum, silver and currencies such as the euro...
...the result: devaluation or perhaps even a run on the dollar by speculators.
Could this actually happen this quickly? Just a couple of days after the bailout?
The Luke
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Monday 22 September '08 (11:45am GMT)
Just posting this so I can say I told you so...
I've heard a rumour that the stock market rally over the past few days will be undone later today by either:
-a huge drop in the market
-run on the dollar
-surprise devaluation of the dollar
...could someone such as NeuroToxin who understands all of this please tell me if any of this doom-mongering is actually plausible?
The Luke
Dude, go the fuck away with your little "rumors", would you please?
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Dude, go the fuck away with your little "rumors", would you please?
My uncle is a professional day trader, as are a few other family members... they all seem to think that Peter Schiff is right about there being another meltdown this side of Christmas (bonuses usually ensure the market is up by years end).
Some think the dollar will be in trouble almost immediately...
That's what I'm interested in: is the bailout actually so costly long term that the dollar is under threat now?
The Luke
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Rumors and panic, just what be need right now...more self fulfilled prophecies.
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Rumors and panic, just what be need right now...more self fulfilled prophecies.
...some say (Ron Paul and Peter Schiff among them) it isn't panic so much as the market (America/dollar) has been so grossly over-valued for so long that investors are worried the rest of the world might just have snapped out of the Jedi mind trick.
Commerce is built on trust, stock markets are built on confidence... much the same way a confidence trickster bilks the naive out of their money... but the reality (America's $10 trillion debt and collapsing manufacturing base) remain.
The Luke
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NT,
The reasoning behind the apocalyptic rumours seems to be that:
...having considered their exposure and having finally taken a long hard look at America's oft-neglected balance sheet, traders/institutions/governments are going to dump the dollar in favour of commodities such as gold, platinum, silver and currencies such as the euro...
...the result: devaluation or perhaps even a run on the dollar by speculators.
Could this actually happen this quickly? Just a couple of days after the bailout?
The Luke
No.
NT