Discussion of Housing Bubble, US Dollar, Debt, Trade Deficit, Oil, Gold, Consumer Spending, Central Banks, Inflation, Outsourcing and the Bleak Future of the US economy
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Wednesday, September 08, 2010
Gold and Silver - new record today?
Strong action indicates we may see a couple of new records today, even thought both are a bit overbought...
Randy, over on Clusterstock, there have been fascinating stories about the real estate Ponzi scheme going on in China. Currently, there are 64 million unoccupied homes in China. I can only imagine that the World's second largest economy, built on exports and real estate, is about to follow our example, and implode all over itself. You would think that Chinese banks learned from what happened here, but they seen destined to repeat it.
lovely graphs i must say. I have no idea what they mean, but i guess it is something to do with the value of silver and gold! But i do love the graphs from a simple aesthetic point of view!! lol!
Which, although written almost a year ago, does fit in with Elliott wave theorists like Prechter...perfectly. Bankers pull the plug on the real estate market over there and it's domino number one...
This trade continues to befuddle yours truly. I realize that the prop desks of many high profile banks have closed, but if you think they've gone for good, you're dreaming. They've gone private and assumed other names, and aren't going to be pulled back by some mainstream banking operations personnel. As I write this, silver is at $20.52, and tomorrow may see a new high for silver. I've been shorting silver since $19.60 and anything below $19.85 gets a profit. We'll see how this pans out.
I don't see how silver, allowed to skyrocket, is going to find favor with the tech industry, and silver may have experienced the perfect storm: the Yen being allowed to rise due to the recent election results in Japan, the dollar backing down to the support line, and the closing of prop desks. No segue...
Tea-party win in the GOP primary in Delaware was unbelievable, so we'll see how the other six contests pan out. I wish the TP actually had a broad, focused platform of ideas...we'll see.
8 comments:
Continuing to buy short silver via ZSL. Trying to press my average down below $28 today. Wish me luck.
Randy, over on Clusterstock, there have been fascinating stories about the real estate Ponzi scheme going on in China. Currently, there are 64 million unoccupied homes in China. I can only imagine that the World's second largest economy, built on exports and real estate, is about to follow our example, and implode all over itself. You would think that Chinese banks learned from what happened here, but they seen destined to repeat it.
Here's a link
http://www.businessinsider.com/there-are-now-enough-vacant-properties-in-china-to-house-over-half-of-america-2010-9
The usual players...
lovely graphs i must say. I have no idea what they mean, but i guess it is something to do with the value of silver and gold! But i do love the graphs from a simple aesthetic point of view!! lol!
More research on the Chinese property bubble and unoccupied homes revealed...
http://www.businessinsider.com/what-happens-to-us-if-china-blow-up-2009-11
Which, although written almost a year ago, does fit in with Elliott wave theorists like Prechter...perfectly. Bankers pull the plug on the real estate market over there and it's domino number one...
Very nice graphs i must say.
web application development
This trade continues to befuddle yours truly. I realize that the prop desks of many high profile banks have closed, but if you think they've gone for good, you're dreaming. They've gone private and assumed other names, and aren't going to be pulled back by some mainstream banking operations personnel. As I write this, silver is at $20.52, and tomorrow may see a new high for silver. I've been shorting silver since $19.60 and anything below $19.85 gets a profit. We'll see how this pans out.
I don't see how silver, allowed to skyrocket, is going to find favor with the tech industry, and silver may have experienced the perfect storm: the Yen being allowed to rise due to the recent election results in Japan, the dollar backing down to the support line, and the closing of prop desks. No segue...
Tea-party win in the GOP primary in Delaware was unbelievable, so we'll see how the other six contests pan out. I wish the TP actually had a broad, focused platform of ideas...we'll see.
Well, that didn't take long
http://www.bloomberg.com/news/2010-09-15/japan-intervenes-for-first-time-since-2004-as-yen-surge-threatens-recovery.html
Looks like the Yen getting stronger threatened the export economy of Japan. Who'd have thunk? Cue dollar rally.
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