# \*\*\*Economy thread\*\*\* **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [November 25, 2008, 9:01am UTC](https://forums.speedlife.net/t/economy-thread/58733 "2008-11-25T09:01:10Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 7:55am UTC](https://forums.speedlife.net/t/economy-thread/58733/41 "2008-12-02T07:55:05Z")
> [@JoesTypeS](#): > > My point is if he was the visionary that a lot of people have been making him out to be, he’d have gotten out of gold at it’s peak and bought back in. He’s simply a guy who basis his economic predictions on manufacturing and savings based economic models. > > And he’s wrong. > > The US isn’t going to become a goods manufacturing giant like it used to be. Our best hope at “manufacturing” is manufacturing technology to sell to countries that have the ability to build things inexpensively. We need to become an exporter of ideas. We’re done being an exporter of products as we’ve known them. Our cost of and standard of living has become too high. Tarriffs aren’t going to get the job done, union busting isn’t going to do it either. There’s going to be a fundamental shift in the US economy in the next 10 years and fortunately for a lot of people on this forum they’ll be able to be a part of it. Maybe we can still make cars…MAYBE; the only reason to keep the auto industry around is because of the massive employment rolls but those will need to be phased down as the workers there get older. > > The markets didn’t crash because poor people took out mortgages they couldn’t afford (and FYI 2.x% of all mortgages are in default while 7.5% of JUMBO, ie rich people mortgages, loans are in default). **Credit Default Swaps. Read about them and get back to me.** The overall markets are in shambles thanks to **many** fundamental reasons. Many seem to revolve around poor lending practices and poor decisions made by everyone from consumers up the food chain. How is the ratio of disposable income to debt going in this country? Might that play a role in the countries collective ability to pay it’s debt? Could we have issues paying back thanks to inflation, taxes and the interest trap? Markets are so vast that anyone wanting to create a pissing match and single out _1_ reason for a crash of this magnitude is a tad out of line as I see it. Good luck with the pissing match. 😉 Added— FWIW the commodity bugs got crushed recently as inflation was NOT feared any longer by those in the know. I find it funny how those in the metals held all the way and same with oil players. I know guys averaging in as oil neared $150. LOL I warned of a top on USO within 10% from the true peak on several sites. News at a fever pitch and hype are great contrarian indicators. 😃 ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 8:01am UTC](https://forums.speedlife.net/t/economy-thread/58733/42 "2008-12-02T08:01:14Z")
> [@Penfold](#): > > Are emerging markets willing to outsource service jobs to america? Americans are quite jaded and arrogant as a whole. Would they allow us to work for them given our sense of entitlement…hell no! ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 8:12am UTC](https://forums.speedlife.net/t/economy-thread/58733/43 "2008-12-02T08:12:27Z")
> [@JoesTypeS](#): > > I’m willing to bet you don’t even understand what the DOW actually represents. > > Quick, to Google. > > GTFO with your new world orders and other mosh posh conspiracy of how a few people on the planet control everything. The evidence of that being false has been right in front of you the last 8 months as the GLOBAL ECONOMIC MELTDOWN has happened. LOL…I should not read backwards in time I guess. What is the DOW? Do you understand fully what the DOW does and does NOT represent? Don needs no backup but I’ll provide it because he clearly understands the ways of the market. It’s ALL collusion, and to suggest otherwise proves how heavy the wool is over the sheeps eyes. :banghead: Back to what the traditional DOW is…it’s an _artificial_ index that tracks 30 select stocks. I say artificial based on the fact that it has not remained the same 30 stocks since it’s inception and therefore is inflated through swaps. Also WTF good is a index of 30 stocks anyhow? The market is vast and a better measure would be something like the S&P500 perhaps? HRMMM You won’t see me spouting off about cars as I know $hit about them…but the markets, I’ll yap it up when the need arises. 😉 Here’s the dow issues as of 11:10am today. :eekdance: ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 2, 2008, 8:17am UTC](https://forums.speedlife.net/t/economy-thread/58733/44 "2008-12-02T08:17:41Z")
holy quintuple post ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [December 2, 2008, 8:19am UTC](https://forums.speedlife.net/t/economy-thread/58733/45 "2008-12-02T08:19:45Z")
BATMAN! ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 8:21am UTC](https://forums.speedlife.net/t/economy-thread/58733/46 "2008-12-02T08:21:44Z")
> [@Joe](#): > > holy quintuple post Yeah…sorry bout that. I fire from the hip and then take names. I didn’t plan my attack or even TO attack and read each additional post after I replied already. 😉 Can’t we all just get along? :grouphug: LOL ---
**Author:** ![Carnut](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/carnut/32/7590_2.png) [@Carnut](https://forums.speedlife.net/u/Carnut)\ **Post date:** [December 2, 2008, 8:25am UTC](https://forums.speedlife.net/t/economy-thread/58733/47 "2008-12-02T08:25:25Z")
lol, thanks mike. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [December 2, 2008, 8:32am UTC](https://forums.speedlife.net/t/economy-thread/58733/48 "2008-12-02T08:32:53Z")
> [@JoesTypeS](#): > > The evidence of that being false has been right in front of you the last 8 months as the GLOBAL ECONOMIC MELTDOWN has happened. Hey, i saw it on TV… must be true… ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 8:39am UTC](https://forums.speedlife.net/t/economy-thread/58733/49 "2008-12-02T08:39:58Z")
> [@Carnut](#): > > lol, thanks mike. I still want to show you some charts n’ shit but your always so damn busy! You have the mindset that could take you far in the markets…and _if_ this isn’t the end all be all collapse (I don’t believe it is) then this drop will create a new wave of market millionaires when inflation takes control again. BUT the people buying GM because “it’s cheap” etc… are driving me nuts. You have to have a strategy and understand that you’re playing with **RISK** capital! To be honest one could park anywhere from a few hundred to a few grand on several strategic plays and come out baller n’ shit if timed right. The market dropped so fast this year unlike the Y2K drop that ground most people up mentally. That leads me to believe this _could_ recover fairly quickly. The issue will be when inflation kicks again what will happen to our USD and it’s spending power? That’s a real scary component as I see it. ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 8:46am UTC](https://forums.speedlife.net/t/economy-thread/58733/50 "2008-12-02T08:46:36Z")
> [@bing](#): > > Hey, i saw it on TV… must be true… [![]( " - YouTube") ](https://www.youtube.com/watch?v=eBqwtRubyJM) Some silly sensationalism…but alot of it is good core info IMO. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 2, 2008, 8:47am UTC](https://forums.speedlife.net/t/economy-thread/58733/51 "2008-12-02T08:47:25Z")
Great. Another one. ---
**Author:** ![Carnut](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/carnut/32/7590_2.png) [@Carnut](https://forums.speedlife.net/u/Carnut)\ **Post date:** [December 2, 2008, 8:57am UTC](https://forums.speedlife.net/t/economy-thread/58733/52 "2008-12-02T08:57:13Z")
> [@Fry](#): > > Great. Another one. Another one… who knows more about the market than you could imagine…so rather than start judging judgey mcjudgerson, why not get to know said person… ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 2, 2008, 9:01am UTC](https://forums.speedlife.net/t/economy-thread/58733/53 "2008-12-02T09:01:50Z")
> [@Carnut](#): > > Another one… who knows more about the market than you could imagine…so rather than start judging judgey mcjudgerson, why not get to know said person… I’m sure he does know quite a bit. It’s the arrogance that rubs me the wrong way. ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 9:03am UTC](https://forums.speedlife.net/t/economy-thread/58733/54 "2008-12-02T09:03:46Z")
> [@Fry](#): > > Great. Another one. Yep, that’s me. Another rare American unable to be wrangled in by the shepherds. Thank god for my tin hat. 😛 > **[$USD - US Dollar - Cash Settle](https://stockcharts.com/h-sc/ui?s=$USD&p=W&yr=3&mn=0&dy=0&id=p57784121159)** > > SharpChart from StockCharts.com Based on the chart above…does anyone care to argue the market is fearful of inflation currently? By “market” I mean the knowledgeable investors/traders not retail traders…aka those that matter. I run a market education site and though I’m not here to promote anything, anyone interested should drop me a PM. I’m big on market psych and it’s a site based mainly on education. I don’t pump penny stocks or any drama BS. Edit— I fail to see where I was the one coming off as arrogant, though I apologize if it came off that way. If anything the market can and will humble the best of us. I will aways talk in terms of probabilities when it comes to the market. NOBODY knows with 100% certainty what comes next. ---
**Author:** ![Carnut](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/carnut/32/7590_2.png) [@Carnut](https://forums.speedlife.net/u/Carnut)\ **Post date:** [December 2, 2008, 9:04am UTC](https://forums.speedlife.net/t/economy-thread/58733/55 "2008-12-02T09:04:49Z")
Knowledge and experience should not be mistaken for arrogance. If that was the case then I can see why some people would think I’m arrogant when talking about cars… I’d rather see people know the right answer based on my mistakes than continue to think that what they are doing incorrectly is the best route. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [December 2, 2008, 9:05am UTC](https://forums.speedlife.net/t/economy-thread/58733/56 "2008-12-02T09:05:53Z")
Fry drinks beer with Joe and I on a regular basis. We keep him up on the market. Dont worry we already covered that if the world dosent end and the market recovers people will make money. It was last months lesson. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 2, 2008, 9:12am UTC](https://forums.speedlife.net/t/economy-thread/58733/57 "2008-12-02T09:12:19Z")
Tradersbase, it seems like you are pretty knowledgable but some of us get put off by bragging about having called things on other sites and all that shepherd/sheep/end of the world bullshit you mix in with your posts. Try not to let the ensuing bickering bother you. I’m interested to read your takes on things. I’m out for a bit though. Ironically I’m going to use my lunch break to study for my macro-econ exam. You guys play nice or I’ll come back and quiz you on BP curves. :nono: ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 9:15am UTC](https://forums.speedlife.net/t/economy-thread/58733/58 "2008-12-02T09:15:29Z")
> [@Carnut](#): > > Knowledge and experience should not be mistaken for arrogance. > > If that was the case then I can see why some people would think I’m arrogant when talking about cars… > > I’d rather see people know the right answer based on my mistakes than continue to think that what they are doing incorrectly is the best route. You gotta see the new prototype tin hat I’m working on. HAHA Those buying in, or that bought in already are likely premature. Of course this is based on the way many “investors” buy all in on a whim or news article and the fact that many don’t scale in. If someone is really long term investing it’s quite appropriate to have taken a small taste given the wild over reaction the market has had. Keep some gunpowder dry is my main suggestion. But I eat lunch alone so take my info with a grain of salt. Last months lesson for me was women are supposed to wipe from front to back so they don’t “sweep dirt into the kitchen”. :roflpicard: YES I’m trying to lighten it up in here. The market is heavy enough fellas, let’s not go at each other just cause our nest eggs have been cut in half. 😉 ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 2, 2008, 9:17am UTC](https://forums.speedlife.net/t/economy-thread/58733/59 "2008-12-02T09:17:34Z")
Not those of us that moved a bunch of theirs into SKF, EEV, FAZ, etc. 🙂 ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [December 2, 2008, 9:21am UTC](https://forums.speedlife.net/t/economy-thread/58733/60 "2008-12-02T09:21:48Z")
> [@Joe](#): > > Not those of us that moved a bunch of theirs into SKF, EEV, FAZ, etc. 🙂 Yea lol I am Corvette shopping right now. Nest egg is doing great! Last thing i want right now is a stable market. Well unless we go into a long term Bull trend then I will take it. But back on the economy. Where do you guys think the credit fisaco is going to spread to next? I hear lines of credit are being pulled from people left and right. [Previous page](https://forums.speedlife.net/t/economy-thread/58733.md?page=2) [Next page](https://forums.speedlife.net/t/economy-thread/58733.md?page=4)