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Thread: Not Sports Related But I Think That The Meltdown Has Commenced

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    Raptors Republic Veteran Buddahfan's Avatar
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    Default Not Sports Related But I Think That The Meltdown Has Commenced

    Greece is burning and financially collapsing. The rest of Europe except maybe Germany at this point is hanging by a slim thread.

    The NASDAQ, I don't follow the DJIA, is down over 100 today and right now down close to 10% for the week.

    I have a feeling it is going to get really ugly and make the fall of 2008 look like a cake walk.

    I hope that I am wrong.

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    Administrator Arsenalist's Avatar
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    That's why all my money is under my mattress.

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    Raptors Republic Veteran Buddahfan's Avatar
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    Quote Arsenalist wrote: View Post
    That's why all my money is under my mattress.
    Your mattress must be pretty lumpy

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    Pretty much a repeat of the great depression:

    Market crash.
    False recovery. Stocks rise.
    Everyone assumes the worst is over.
    Small country defaults on debt.
    Domino effect echoes around the world.

    Difference now is we have billions of dollars worth of 'quantatative easing' and prompt action, but we don't know for sure that Mr. Market isn't going to do what he has always done in the end...revert in whiplash-style to the mean.

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    Raptors Republic Superstar Hotshot's Avatar
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    The world will have to change of how it conducts business or its back to the cave robin!

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    Raptors Republic Starter James Ballswin (Realizar)'s Avatar
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    I wonder how Josh Childress is doing?

    So.. is Greece the new Albania?!?!

    And with everything that's happening, slouvaki stocks are surprisingly flat. (Opa!)
    Last edited by James Ballswin (Realizar); Thu May 6th, 2010 at 07:11 PM.

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    Raptors Republic Veteran Bendit's Avatar
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    Quote Arsenalist wrote: View Post
    That's why all my money is under my mattress.
    I hope that isnt true...entirely.

    The ultimate consequence if there is a meltdown will be hyper inflation which will metaphorically make the value of that cash into crud. I bet you gold went up today.

    Disclaimer: I wish I followed my own advice on financial matters in the past!

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    Raptors Republic Veteran Buddahfan's Avatar
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    Gold is now at $1,201.90 up about $4 on the day

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    Raptors Republic Rookie Paradigm Shift's Avatar
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    So what you're saying is that next year at this time Hedo's contract might look like a bargain?

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    Raptors Republic Veteran Buddahfan's Avatar
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    Man Who Predicted 2008 Financial Crisis Says Today's Sell-off Is 'Just The Next Stage'

    By Noel Sheppard
    Thu, 05/06/2010 - 20:49 ET

    The man who predicted the bursting of the housing bubble as well as 2008's economic collapse says that what happened in the markets around the world today is just the next stage in the financial crisis

    "The first stage was this massive re-leveraging of the private sector that led to the financial crisis and which has responded now with a massive re-leveraging of public sectors with budget deficits of the order of 10 percent," Nouriel Roubini aka Dr. Doom told CNBC's Maria Bartiromo.

    "So I think that the markets are realizing that we have socialized a lot of the private losses with unsustainable fiscal deficits."

    He believes the bond markets in parts of Europe seriously began realizing the depth of the problem today cautioning, "And soon enough they're going to wake up in the United States" (video follows with partial transcript and commentary):
    cont on link

    http://newsbusters.org/blogs/noel-sh...ust-next-stage
    Last edited by Buddahfan; Thu May 6th, 2010 at 11:55 PM.

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    Raptors Republic Superstar Hotshot's Avatar
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    How bad will Canada feel the pinch?!

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    Raptors Republic Veteran Buddahfan's Avatar
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    Default Moody's Cuts Greece Government Ratings to Junk

    Published: Monday, 14 Jun 2010 | 2:19 PM ET

    By: Reuters

    Moody's on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country.

    Moody's cut the government bond ratings of debt-laden Greece to Ba1 Monday, moving the debt one notch into junk status.
    The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable.

    Moody's [MCO 19.91 0.23 (+1.17%) ] also downgraded Greece's short-term issuer rating to not-prime from Prime-1.

    The rescue package "effectively eliminates any near-term risk of a liquidity-driven default and encourages the implementation of a credible, feasible, and incentive-compatible set of structural reforms, which have a high likelihood of stabilizing debt service requirements at manageable levels," said Moody's senior analyst Sarah Carlson.
    http://www.cnbc.com/id/37689484
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    “As a captain, I played furiously. I drew a lot of fouls, but I brought everything I had to every practice and to every game. I left everything on the court because I simply wanted the team to win”
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    Raptors Republic Starter James Ballswin (Realizar)'s Avatar
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    Bilderburg Group. Get to know.

    http://en.wikipedia.org/wiki/Bilderberg_Group

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    Raptors Republic Hall of Famer rocwell's Avatar
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    Royal Bank Of Scotland sent an interesting message to investors...

    'danger is lurking out there for every investor'....

    'the downside is crystallising. Watch out. Sell (mostly) everything.'....

    'In a crowded hall, exit doors are small. Risks are high.'....

    'this looks very much like 2008'

    FYI, RBS was bailed out in 2008 by UK government. ( £45bn bailout )
    Last edited by rocwell; Tue Jan 12th, 2016 at 10:26 PM.
    Masai 12/09/2013: “The one thing I can say is that we will not be trapped in the middle. . . . We will not be stuck in no-man’s land.”

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    Administrator Apollo's Avatar
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    Quote Arsenalist wrote: View Post
    That's why all my money is under my mattress.
    If what Buddahfan suggests(economic doom) actually happens you'll be able to buy a pack of tic tacs with all your money.

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    Quote rocwell wrote: View Post
    Royal Bank Of Scotland sent an interesting message to investors...

    'danger is lurking out there for every investor'....

    'the downside is crystallising. Watch out. Sell (mostly) everything.'....

    'In a crowded hall, exit doors are small. Risks are high.'....

    'this looks very much like 2008'

    FYI, RBS was bailed out in 2008 by UK government. ( £45bn bailout )


    Not buying it.

    We are certainly in for a rocky few months in the stock markets but there will be a great buying opportunity on the horizon.

    The thing to remember is the next crisis is in government.

    Everyone thinks when times get rough, head to bonds. That works until it doesn't - and it is about to not.

    Countries have been financing an ever expanding debt by rolling it over. Mathematically that has to end at some point.

    Once people start to realize the incompetence exhibited by governments, especially western governments, around the world, the game is going to be up and confidence is going to be lost. We are already seeing a push to eliminate physical cash all in the name of terrorism of course. We are also seeing western governments starting to share financial information to get their hands on every penny possible. Legislation such as FACTA is contributing to a total slow down in all commerce because the administration alone is cost prohibitive. Then you also have negative interest rates on the horizon that will cause people to take their money out of banks and get it off the grid in to assets (whether art or exotic cars for the wealthy or metals or stocks/shares). It is only the lunacy of government that thinks people are going to keep money in a bank losing money (which is why they want to eliminate physical cash....which is why people who see this are buying things).

    At that point you're going to see capital flow in to private assets - i.e. the stock markets.

    The talking heads are going to be spinning and unable to understand what is happening.

    You're going to see the USD soar as it has been (in spite of all the debt the US has because there is so much external US debt denominated in US dollars) and capital flow to the US. I put all my investments in US Dollars 2-3 years ago and have made nearly 40% on the exchange alone.


    So yes - short term - equities are in trouble - but longer term stay away from bonds and all things government.

    Sovereign debt is the next crisis.
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    Administrator Apollo's Avatar
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    While oil prices flashing across traders’ terminals are at the lowest in a decade, in real terms the collapse is even deeper.
    West Texas Intermediate futures, the U.S. benchmark, sank below $30 a barrel on Tuesday for the first time since 2003. Actual barrels of Saudi Arabian crude shipped to Asia are even cheaper, at $26 -- the lowest since early 2002 once inflation is factored in and near levels seen before the turn of the millennium.
    http://www.bloomberg.com/news/articl...-china-fizzles

    Bad news for Canada, bad news for everyone. Canada has become far too oil dependent. I think with the low dollar you will see manufacturing on the uptick though. Good for Ontario but not good for most of the rest of the country.

    There is a fortune to be made if you can accurately pick the oil slump low point. Stock just keep falling.

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    Raptors Republic Veteran Bendit's Avatar
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    Quote Apollo wrote: View Post
    http://www.bloomberg.com/news/articl...-china-fizzles

    Bad news for Canada, bad news for everyone. Canada has become far too oil dependent. I think with the low dollar you will see manufacturing on the uptick though. Good for Ontario but not good for most of the rest of the country.

    There is a fortune to be made if you can accurately pick the oil slump low point. Stock just keep falling.
    The big negative for Canadian consumers is the dollar is in the toilet as well as a result of commodity/resources tanking. Makes all imported stuff expensive. Buy Canadian
    “When my information changes, I alter my conclusions. What do you do, sir?” J.M. Keynes

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    Raptors Republic Hall of Famer rocwell's Avatar
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    World trade has crashed to a record low tonight. Well, well, well....

    Panic is spreading.
    Last edited by rocwell; Fri Jan 15th, 2016 at 11:19 PM.
    Masai 12/09/2013: “The one thing I can say is that we will not be trapped in the middle. . . . We will not be stuck in no-man’s land.”

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    Raptors Republic Superstar Uncle_Si's Avatar
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    Nothing to worry about. It is no problem at all that US federal debt is greater than the entire global GDP. No one pay attention to the over $100Trillion in unfunded US liability.

    Debt is no problem! It's all good. Just spend baby spend. And when you run out print more! And if that doesn't work throw in some infrastructure stimulus. It always works. Always.

    Keep on taking on debt it's all good! Can't afford to go to university? Don't worry about it, you'll never have to pay pack the debt because you'll go bankrupt before you find a job anyway. Doesn't matter. Just, whatever you do, spend baby spend!

    And for those that can spend more than others, tax them. Get their damn money! Tax and spend baby! Woooooo lets do this thing!!!!!!

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