Global Financial Crisis (2 Viewers)

[stazi]

yeah, same. ive specially held out on purchasing a few things I would have normally.


from the UK, from Asia, from the US

 

[bazookajoe]

just took 50% of my money offline

awwwwwwwwwwwwwwwwwwwwwwwww yeah

 

[stazi]

looks like we'll have a good day tomorrow again based on how i think the US market will perform.

 

[Garygaz]

Lol did anyone watch 4 corners tonight? Such a joke, they were re-showing an episode from last September and these economists predicted EXACTLY what is happening now. Then it showed their interview with the CHIEF economist of JP Morgan and he seemed to think it would all be fine. You would think the Chief Economist of such a renowned company would actually be able to predict what others below him could.

 

[stazi]

if people could accurately predict what would happen, then the market would always be up, and no one would lose any money

 

[Garygaz]

Well they pretty much said what was going to happen as a result of the sub-prime mortgage loans, that it would cause a recession. Mr JPMorgan was all 'Oh no underlying fundamentals are still strong, hoo ha'.

True, though on his pay-package you would think he would be able to analyse the data he was receiving properly.

 

[stazi]

he probably did analyse it properly, but simply reached a different conclusion. im sure it wasnt just him but many other bigshots who also got it wrong. it's like when current affairs runs a story on some 50 year old living in the country who finds patterns in stock charts and exploits them - how he has "no formal experience but can put all heads of investment companies to shame".

 

[Garygaz]

True, true. Though, still, watch it and see how wrong he was.

 

[stazi]

dow jones up 4% at open

 

[MasterPUA]

if people could accurately predict what would happen, then the market would always be up, and no one would lose any money

If all participants could accurately predict what would happen in the future, you would have a much less volatile market that would hover around an equilibrium. You seem to be forgetting that for someone to win money, another person has to lose money.

Let's say that every market participant is a 100% accurate clairvoyant. This means that everyone would have perfect information in regards to future price and information trends. This would result in profitable trades (almost) never happening (since the clairvoyant on the other side of the trade would not enter a losing trade).

Thus we would only see trades occurring based on individual preferences for particular dividend yields or growth profiles.

If only some individuals were clairvoyants, we would have another situation entirely. This also would not result in a market that was always 'up'.

 

[Captain Hero]

Um fairly sure the Austrians could tell what was coming because this shit had been predicted before.

 

[electrolysis]

all i can say is that i lost money on my shares, and im sad.

 

[zstar]

Peter Schiff Predicted this ages ago, he was laughed at and mocked as a so called "doom and gloomer" looking for publicity but he was correct about everything even how the government and Federal Reserve would respond.

You should check him out, He makes a compelling argument about why this system will collapse.

 

[Captain Hero]

Dude; motherfucking Ron Paul predicted this forever ago.

 

[stazi]

wow, another rally in the US

 

[Captain Hero]

Pity our currency is fucking worthless.

EDIT: Get scavenging boys

 

[Iron]

http://www.abc.net.au/unleashed/stories/s2054802.htm
Bob Ellis declares death of free market capitalism and resurrection of the command economy (indeed China just quietly won the cold war after the bailout)

"We thought careers in the financial services were good things to be in and they now look as loathsome and laughable as witchcraft." Lol this fella godda few good lines ey

What did we decide? End of neo-liberalism? Dawn of neo-Socialism!? Neo-Catholicism!@?
Who will fill the vacuum!?!
Highest bidder wins

 

[Iron]

Yeah?
Americans could pay for the bailout with a mere 20 bucks a week for 3yrs
Another 20 would get them universal healthcare to the grave.

All these socialists creeping out from the woodwork!

 

[zstar]

Dude; motherfucking Ron Paul predicted this forever ago.

Peter Schiff was Ron Paul's economic adviser.


He comes from the same economic school of thought as him.


http://www.youtube.com/watch?v=LfascZSTU4o (funny argument he had in 2006)


http://www.youtube.com/watch?v=4n3g5lUgkWk (talking about dollar collapse)


He has some fantastic analogies he uses.

 

[Captain Hero]

Peter Schiff was Ron Paul's economic adviser.


He comes from the same economic school of thought as him.


http://www.youtube.com/watch?v=LfascZSTU4o (funny argument he had in 2006)


http://www.youtube.com/watch?v=4n3g5lUgkWk (talking about dollar collapse)


He has some fantastic analogies he uses.

Yeah, they're Austrians.