Karmacat: I'm passionate about my DFW journey to riches

hypno06

I don't understand it either - I just stare at my screen from 8am going !!!! !!!! !!!!

Karmacat

Well, thats true, I don't "understand" it as such I just have little hobbyhorses that I think people forget. I remember the Big Bang in 1987. I remember when Maggie Thatcher abolished foreign exchange controls (I was dealing with Nigerian oilmen at the time, and slippery deals between Germany and Hong Kong, and it was a big relief....) and I remember a particular lesson in economic history at college about the velocity of money my god, I'm a nerd. Four star. Shoot me now...

OTOH, I don't know how you cope with stuff all day, hypno, it seems appalling. Me and my buddy in our would-be trading are looking at the charts trying to suss where a technical support level might be, and they're awfully low.

hypno06

We've thrown charts out of the window - we tend to go on the good old "gut feeling and experience" stuff instead. We have one guy who swears by the charts, but of course every one of his theories has been blown out of the water over the last few weeks and he is in danger of looking rather silly.

ZTD

pandapaws wrote: »

*sigh* yes, that old 90 day US prohibition chestnut again.

Someone else PLEASE tell me I'm not the only thicko on here who has no understanding whatsoever of what's going on in the world at the moment? I got an A for Higher (A-level) Economics but I just don't understand it. Neither does anyone at work, and we're all reasonably intelligent professional type people.

Well you aren't alone - most people don't understand it (and that includes Oor Gordon) mostly because people who do understand it are lying about it because they have something to gain.

The 90 day prohibition against short sellers - short sellers are a hobgoblin. Basically they borrow shares and sell them. Later they return them to the lender (obviously having re-bought them). If you were to prohibit people selling stuff which they didn't have title to, you would make illegal most businesses. How many places order something, have it delivered and then have 30 days to pay? If they sold the item that same day, then they have done exactly the same as a short seller. They've sold something they don't have title to.

Of course this doesn't apply to naked short sellers, but to confuse them with genuine short sellers is like confusing shoppers with shoplifters. Though Oor Gordon has... :rolleyes:

The simple fact is the world is facing a LBM. Remember when you could spend freely, because people were throwing money you could borrow at you left right and centre? And then you got into trouble, had not savings to call upon, and no one would lend you anything (despite the fact you needed it more than when credit was freely available)? That's where the world is at the moment.

But I can hear people saying "but the world has tangible savings - property".

The sad fact is the world had a mania over property. There have been many manias throughout history:

Remember this?


Or this?



This has been a mania.



Believe it or not...

Or cisco shares. But sadly property is a time honoured mania. Going back just recently...1988, 1976, 1972, 1965 - but none as bad as this time around.

Manias are actually pretty easy to recognise. If it is said "You only have to buy a lot of <X> and you'll be able to retire on the profits" - then it's a mania.

The sad fact is, the only thing you can retire on is working hard, and spending less than you earn. But to suggest to most people that there isn't a "short cut" is like suggesting they take a colonic irrigation with a hollowed out Christmas Tree. Politicians know this, and exploit it to the max. "Let someone else deal with the fall out" is their motto.

The world is currently finding out that what they paid for property is nowhere near what it can be sold for. To scream abuse at people for pointing that out (see the housing board's treatment of people who say houseprices are going down) is about as useful as screaming at people for refusing to believe that the Chav Cabbage Patch Kid (serial no 756 of 2,344,223,323 - genuine fake burberry cap, genuinely on backwards) is worth nowhere near the £4,000 you paid for it. And in fact there's so many offered for sale that people aren't even going to offer you what it cost to make.

Gordon's spending of £500,000,000,000 of money that we the tax payer are liable for, in order to try to keep the mania going will be about as much use as spending that much on keeping the Beanie Baby mania going. Of course that £500B isn't going to disappear, it's going to end up with someone. And that someone is going to say when the bailout fails "You almost did it that time, it was so close. I'm sure if you sent another £500 billion into my pocket again, it'll succeed."

Now of course you can see why people who know what is happening are lying about it - they've positioned themselves to benefit, and the benefit is huge.

pandapaws wrote: »

I still blame Kerry Catona for the trouble Iceland are having:p

Now now, don't knock the lass when she's got nothing and doesn't have two things to rub together...



I take that back. Maybe she does have.

ZTD

Karmacat wrote: »

Well, thats true, I don't "understand" it as such I just have little hobbyhorses that I think people forget. I remember the Big Bang in 1987. I remember when Maggie Thatcher abolished foreign exchange controls (I was dealing with Nigerian oilmen at the time, and slippery deals between Germany and Hong Kong, and it was a big relief....) and I remember a particular lesson in economic history at college about the velocity of money my god, I'm a nerd. Four star. Shoot me now...

Don't even mention the words "Economic" and "History" in close proximity again...I barf at the economic benefits of canals...

boredofbeingathome

Ahh now i understand it..................



BOB wanders off muttering to herself about the genuine Burberry hat and Beanie bear she bought....bad investment!:rotfl: :rotfl:

The_Dragon

Karma have you thought about belly dancing? a friend who can no longer do ballet does that

I really hoped I would not have to live through another negative equity again *sigh*

boredofbeingathome

Belly dancing i can do..wibble wobble...................

The_Dragon

boredofbeingathome wrote: »

Belly dancing i can do..wibble wobble...................

Um likewise!

Karmacat

hypno06 wrote: »

We've thrown charts out of the window - we tend to go on the good old "gut feeling and experience" stuff instead. We have one guy who swears by the charts, but of course every one of his theories has been blown out of the water over the last few weeks and he is in danger of looking rather silly.

I bet he is.... to rely only on one method is crazy, and the charts just break down every time reality rears its head. I like the idea of gut feeling.... :A