Jay, there is no financial collapse while 26 year olds are 'pulling down $110,000'. One would think that with the dot.bomb and telecosm collapse there would be lots of computer geeks looking for jobs sweeping the streets or something. They are not: Message 16299057
In terms of whether $110,000 is a lot of money or not and whether the US$ is overvalued, that is more than our Prime Minister gets and more than nearly everyone in NZ gets, including internerds.
Uncle Al was right to take the pressure off the global pressure cooker.
Now, Japan needs to print a trillion in new yen and post them to their citizens to go shopping. That will stop the necessity of moaning [which they are now doing] about the high yen.
I think there will be some co-ordinated central bank currency 'corrections' to avoid any hints of deflationary spirals which people don't seem to like. Hong Kong made a load of profit from their last buy up of the Hang Seng. I dare say they are not worried about the prospect of the doom and gloomsters selling them their stocks at low prices [again].
Hong Kong could wait for some more panic to set in, then buy the stocks, then reflate the currency, then sell off the stocks for a big profit. They'd get the money printed, plus a capital gain on the stocks.
Ah, the power of a central bank and government.
I'm onto them and have been lying in wait for a couple of years now, though I did leap out and grab a bargain which turned out to be a tar baby. It's so tough being the hunter when everyone else thinks they are too...
It was that damn metaphysical certitude of Globalstar and CB that fooled me.
If the markets say that LEOs get pulled out of orbit if they are big or that there is no market for China, or Globalstar, then they will vote their wacky ideas with their money and sink anyone who opposes them [unless we can wait out the madness].
Mqurice
PS: There were some purchasing statistics which have just come out too which were apparently surprisingly strong. The financial collapse is having trouble picking up steam. Meanwhile Uncle Al has been repressurising the market with more money and lower interest rates. There must be a heck of a lot of US$ wondering what the heck to do [especially since their interest rates are derisory]. Since the only thing that a $ can do is go shopping, we should expect shopping to continue [albeit perhaps for Nikkei bargains, Aztec totems, CDMA stocks, Australian land or Euro futures]. |
