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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (113136)	7/16/2010 8:35:24 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 116555

Please read Message 26687952 As I post this teh EUR/USD just hit teh 1.30 level - Oh yes WS promoted parity to the EUR/USD this year

To: Jim McMannis who wrote (113136)	7/17/2010 9:13:47 AM
From: andiron	Respond to of 116555

you can make a case that wall street thugs ruined USA ( in cahoots w/ shady ceos,politicians) & "enabled" hedonistic, entitlements seeking greedy americans (majority of).... wall street peddled all kinds of ways to enrich themselves and use the rationale of capitalism and lure of outrageous CEO pays to institutionalise a system that has hollowed out USA..The process of relentless outsourcing of manufacturing & service has now reached a critical point.. But a schumpeterian destruction is at hand.. It will cleanse the wall street...The tsunami will clean out junk and excesses..The vast financial sector, that has been pimping money from real economy thru fees/commissions and casino trading can no longer do so..The sector will be blown to smithereens... The vast housing wealth that was appraised at the height of the bubble to be 22 Trillion was 35% of the net household wealth..(60 T)...Stock wealth was 14 T (now ~10T).. If a reset on values have occurred, then stock wealth will reset to ~5-7 T and housing to ~14-15 T leading to at least 15 T reset (losses)...This asset bubble was fuelling the vast financial sector riches/profits in the last 2 decades..now is gone! poof! And we are not even talking about bond bubble of 3 decades//if that explodes it will be MAYHEM......