4 replies to this topic

[Rogerdodger]

In Laundry's weekend update, he notes that a Gold "T" and an SPX "T" ended last week and the Osama Beanie Toptm is intact.
(He calls it an "M" cycle top. Whatever.)
He also notes that Soros is very concerned by the Euro Zone problems, not the debt ceiling which he says is "mainly theater".
Laundry's site: http://www.ttheory.c...bservations.php

Soros Fund's Cash Stash Up To 75%; Hedgies Ponder Global Risks...
Barron's
July 22, 2011
By Murray Coleman
Earlier this week, George Soros was telling BBC viewers that the standoff in the U.S. over the debt ceiling is "mainly theater" and will be resolved, but the euro zone faces a more serious crisis.
Reports are surfacing that Soros Fund Management's $25.5 billion Quantum Endowment Fund has moved to a 75% cash position. In mid-June the fund's lead manager, Keith Anderson, told his portfolio managers to pull back. The fund's losses had surpassed 6% on the year, according to Bloomberg...
Debt issues in the U.S. and Europe seem to be a particular source of concern, not just to credit markets but also their impact to equities. China’s efforts to engineer a soft landing are also said to be playing a part in hedge fund managers’ current market angst.

Edited by Rogerdodger, 23 July 2011 - 11:42 AM.

[slupert]

In Laundry's weekend update, he notes that a Gold "T" and an SPX "T" ended last week and the Osama Beanie Toptm is intact.
(He calls it an "M" cycle top. Whatever.)
He also notes that Soros is very concerned by the Euro Zone problems, not the debt ceiling which he says is "mainly theater".
Laundry's site: http://www.ttheory.c...bservations.php

Soros Fund's Cash Stash Up To 75%; Hedgies Ponder Global Risks...
Barron's
July 22, 2011
By Murray Coleman
Earlier this week, George Soros was telling BBC viewers that the standoff in the U.S. over the debt ceiling is "mainly theater" and will be resolved, but the euro zone faces a more serious crisis.
Reports are surfacing that Soros Fund Management's $25.5 billion Quantum Endowment Fund has moved to a 75% cash position. In mid-June the fund's lead manager, Keith Anderson, told his portfolio managers to pull back. The fund's losses had surpassed 6% on the year, according to Bloomberg...
Debt issues in the U.S. and Europe seem to be a particular source of concern, not just to credit markets but also their impact to equities. China’s efforts to engineer a soft landing are also said to be playing a part in hedge fund managers’ current market angst.

i don't know if you are famailiar with das or not, but he is the world's foremost expert in credit derivatives, and the guy who actually taught Wall street the game, this is from his blog, "Fear and Loathing in Financial Products" http://www.wilmott.c...k-Bond-Exchange

[slupert]

In Laundry's weekend update, he notes that a Gold "T" and an SPX "T" ended last week and the Osama Beanie Toptm is intact.
(He calls it an "M" cycle top. Whatever.)
He also notes that Soros is very concerned by the Euro Zone problems, not the debt ceiling which he says is "mainly theater".
Laundry's site: http://www.ttheory.c...bservations.php

Soros Fund's Cash Stash Up To 75%; Hedgies Ponder Global Risks...
Barron's
July 22, 2011
By Murray Coleman
Earlier this week, George Soros was telling BBC viewers that the standoff in the U.S. over the debt ceiling is "mainly theater" and will be resolved, but the euro zone faces a more serious crisis.
Reports are surfacing that Soros Fund Management's $25.5 billion Quantum Endowment Fund has moved to a 75% cash position. In mid-June the fund's lead manager, Keith Anderson, told his portfolio managers to pull back. The fund's losses had surpassed 6% on the year, according to Bloomberg...
Debt issues in the U.S. and Europe seem to be a particular source of concern, not just to credit markets but also their impact to equities. China’s efforts to engineer a soft landing are also said to be playing a part in hedge fund managers’ current market angst.

i don't know if you are famailiar with das or not, but he is the world's foremost expert in credit derivatives, and the guy who actually taught Wall street the game, this is from his blog, "Fear and Loathing in Financial Products" http://www.wilmott.c...k-Bond-Exchange

"Greece must find Euro 50 for every Euro 100 debt exchanged under the proposal. Given it has no access to commercial funding, this would have to come from the EU, IMF, EFSF or ECB.

Greece’s cost would be between 7.7% and 11.20% per annum, as it only receives Euro 50 of the Euro 70 face value of the new bonds. Assuming the remaining funding is at 6%, then Greece’s blended rate for every Euro 100 of finance would 6.85-8.60% per annum, compared to the 7-8% per annum considered sustainable by markets. The new EU proposal does at least address this and lowers the cost to the bailout receipients.

Most importantly, the overall level of debt, considered unsustainable, of Greece would remain unchanged. "

[Rogerdodger]

i don't know if you are famailiar with das or not, but he is the world's foremost expert in credit derivatives, and the guy who actually taught Wall street the game, this is from his blog, "Fear and Loathing in Financial Products" http://www.wilmott.c...k-Bond-Exchange

"The analysis below shows that neither the original plan nor its cousin now being contemplated are likely to be viable."

NOBODY seems willing to tighten their belts!
On a personal level I know broke people who will not give up their cable channels, multiple cell phones, and dining out but can't pay all their bills.
They have both debt AND deficits, but want their things.
They will write hot checks and pay the overdraft charges to order a pizza.
They will get a "payday loan" at confiscatory rates so they can get what they want NOW and not wait until they can actually afford it.
I think only a full blown depression will cure a spoiled generation.
It sure helped my grandparents value money and stay out of debt.

Maybe we are already living in an Idiocracy, where plants are watered with Gatoraid, and die.

Idiocracy Narrator:
As the 21st century began, human evolution was at a turning point. Natural selection, the process by which the strongest, the smartest, the fastest, reproduced in greater numbers than the rest, a process which had once favored the noblest traits of man, now began to favor different traits. Most science fiction of the day predicted a future that was more civilized and more intelligent. But as time went on, things seemed to be heading in the opposite direction. A dumbing down. How did this happen? Evolution does not necessarily reward intelligence. With no natural predators to thin the herd, it began to simply reward those who reproduced the most, and left the intelligent to become an endangered species.
The years passed, mankind became stupider at a frightening rate. Some had high hopes the genetic engineering would correct this trend in evolution, but sadly the greatest minds and resources where focused on conquering hair loss and prolonging erections.

Edited by Rogerdodger, 23 July 2011 - 12:58 PM.

[pdx5]

NOBODY seems willing to tighten their belts!

I see that all around us, personal level, corporate level, local governments, federal
governments. A few states have done the hard thing and balanced budgets. But not
majority of states. Adding more to national debt is another example of this
foolishness.

I can't find one solitary example of any country in the history of world which has
done well by continuing to borrow and spend, not one. So why do people continue
to attempt the same thing and expect different result?

On a personal level we just downsized from a 5 bedroom house to a 3 BR condo with
40% reduction in living space. That has caused significant reduction in our real estate
tax, home insurance and utility bills.

Edited by pdx5, 23 July 2011 - 01:40 PM.