More Great Economic News
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Those are two great stories. On the one hand, we have the capitalist system under which a salesman wasted a trip out to the research facility. On the other, we have millions of dollars wasted because central planners forgot the lids!
Unlike Sandy I have told many of the stocks I bought years ago (She claimed to have bought gold at $500 /oz only when it was trading above $850etc.)
Yesterday I sold 1000sh of Indian ADR IBN (ICICI bnak) at $70 and still have open sell order for 1000 more at 73.xx (will not tell the xx until they are sold*) I will still hold 2000sh after any second sale. The price of IBN is up more than 1200% from when I bought about 6 years ago (and more than factor of three from when I identified my holding here about two years ago.) As city has been beat up 49% and IMHO will not drop its now very high dividend, I have a buy order in on 1000sh of C at 27.xx (I tend to buy or sell at least $50,000 at a time as then the commission is lost in the noise.) City has much more international operations than most realize, so even thought there is risk with dollar collapse and the coming US depression, City will not go under.
I still hold the Brazilian water /sewer ADR SBS now also up about 1200% as mys largest holding (about half a million in dollars) I sold IBN and intend to buy back later as I expect the cuurent historic high will not hold. IBN = ICICI bank, India's largest private bank and agressively developing rural credit facilities etc. I confirmed yesterday that it will very probably spin off 3 or four subdivisions as IPOs (the insurnace arm, etc.) this sent it up 7% in the peak of the day and closed it 3.5% higher. I think Tata showing off its Nano car may have added to the IBN surge as many of those new rural loan facilites will be making small loans for the purchase of a Nano. (This factor of the appriciation of IBN will fade before these cars are actually for sale. Also as many follow the old rule "buy on the rumor, sell on the fact" when the IPOs are "fact" the price should drop back and I can get in again to restore that component of my protection against the collapse of the dollar.) If all that is wrong and IBN continues its spectular c limb to higher prices, I will still be holding 2000sh.
Any way it turns out, because I got into Brazil and India 6 years ago it is good news for me (and for you if you bought these ADRs as I told you to couple of years ago).
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*Later by edit: The second 1000sh of IBN sold at 73.73 just as the market opened. its is some what lower now.
Yesterday I sold 1000sh of Indian ADR IBN (ICICI bnak) at $70 and still have open sell order for 1000 more at 73.xx (will not tell the xx until they are sold*) I will still hold 2000sh after any second sale. The price of IBN is up more than 1200% from when I bought about 6 years ago (and more than factor of three from when I identified my holding here about two years ago.) As city has been beat up 49% and IMHO will not drop its now very high dividend, I have a buy order in on 1000sh of C at 27.xx (I tend to buy or sell at least $50,000 at a time as then the commission is lost in the noise.) City has much more international operations than most realize, so even thought there is risk with dollar collapse and the coming US depression, City will not go under.
I still hold the Brazilian water /sewer ADR SBS now also up about 1200% as mys largest holding (about half a million in dollars) I sold IBN and intend to buy back later as I expect the cuurent historic high will not hold. IBN = ICICI bank, India's largest private bank and agressively developing rural credit facilities etc. I confirmed yesterday that it will very probably spin off 3 or four subdivisions as IPOs (the insurnace arm, etc.) this sent it up 7% in the peak of the day and closed it 3.5% higher. I think Tata showing off its Nano car may have added to the IBN surge as many of those new rural loan facilites will be making small loans for the purchase of a Nano. (This factor of the appriciation of IBN will fade before these cars are actually for sale. Also as many follow the old rule "buy on the rumor, sell on the fact" when the IPOs are "fact" the price should drop back and I can get in again to restore that component of my protection against the collapse of the dollar.) If all that is wrong and IBN continues its spectular c limb to higher prices, I will still be holding 2000sh.
Any way it turns out, because I got into Brazil and India 6 years ago it is good news for me (and for you if you bought these ADRs as I told you to couple of years ago).
---------------
*Later by edit: The second 1000sh of IBN sold at 73.73 just as the market opened. its is some what lower now.
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As stated in remaining sentences of my post - it is good news for all who did follow my advice to buy ADRs of Brazil and India, more than two years ago. You were happy with the good news of gold going from $500 to now 900, less than 100% , in longer than two year period, but the ADRs are up about 300% in two years. - Why is <100% good news, but 300% GAIN is not?
From 1986 until approximately 1998, gold had, with rare exceptions, twice or more times the purchasing power it has today at $900/barrel! The purchasing power of gold has been slidding downward ever since 1998, but of course with minor oscillation.
See historical graph of the number of barrels of oil an ounce of gold will buy at:
http://www.incrediblecharts.com/economy/gold_oil_ratio.htm
The third graph. (First two give gold and oil price separately)
For example, during most of this 12 year period an ounce of gold would buy 25barrels of oil, but now it will buy less than 10.
Gold will buy even less of most useful metals like copper, nickel, steel, etc. today. This is also true of most agricultural products. Although if one has good luck and manages to buy at a low and sell at a high one can make money with gold like any other commodity, but long term, one almost always losses by buying gold.
This many not be "good news" to some, but at least it is truth, not "false news and joy"
See historical graph of the number of barrels of oil an ounce of gold will buy at:
http://www.incrediblecharts.com/economy/gold_oil_ratio.htm
The third graph. (First two give gold and oil price separately)
For example, during most of this 12 year period an ounce of gold would buy 25barrels of oil, but now it will buy less than 10.
Gold will buy even less of most useful metals like copper, nickel, steel, etc. today. This is also true of most agricultural products. Although if one has good luck and manages to buy at a low and sell at a high one can make money with gold like any other commodity, but long term, one almost always losses by buying gold.
This many not be "good news" to some, but at least it is truth, not "false news and joy"
No. I just point out the cr@p that is already there. I do the same when someone post nonsense about physics. I consider it a duty to correct ignorance.Why do you have to cr@p all over every one of my good news posts?
Nah. I'm saving it for a terrorist.
How will you know it is a terrorist and not just an american muslim?
Great Economic News!!!
China's currency is rising in value because of economic booming and outsourced American jobs!! Way to go, communism!!
:yay::thumbsup:
China's currency is rising in value because of economic booming and outsourced American jobs!! Way to go, communism!!
It isn't as if Hummers are the only SUV on the market. There are much more efficient SUVs that can do the same thing a Hummer does, using a lot less gas.
Carcano
Valued Senior Member
Thats a good site...hours of fun!
kmguru
Staff member
Economic Pinch Hits The Upper Middle-Class
A Normally Resilient Consumer Sector Is Having To Start Making Harder Choices About Spending
(CBS) It's another sign of economic doldrums - Tiffany's, the jewel of the nation's luxury retailers, is loosing its luster. Holiday sales in its U.S. stores were disappointing.
Even though Tiffany's wealthiest customers continued to spend, with strong sales for 10 to 50-thousand dollars items, one important group, the mid-tier luxury consumer, held back on the 1-thousand to 10-thousand dollar purchases.
Candace Corlett's company, WSL Strategic Retail, monitors consumer spending. She spoke with CBS News correspondent Randall Pinkston and described the factors affecting these consumers' spending.
"This holiday season with the increasing mortgage rates, the increasing fuel prices," Corlett explained, "this upper tier shopper hit the wall."
Other high end retailers like Nordstroms, Saks and Coach were also down, joining JC Penny's, Macy's and Target, suggesting that shoppers across the board tightened their purse strings.
Retail analyst Steven Platt is seeing the impact of this trend.
"Between high debt levels, trouble in the real estate market, trouble in the stock market, deteriorating labor market, high energy prices - the consumer's spent," Platt said. "They have no place left to go but cut back."
Consumer spending, especially among the upper middle-class, normally keeps the economy ticking, but for the first time in years, that group is making hard choices.
"It's a new situation for them," Corlett noted. "They now have to choose whether it'll be the $1,500 flat screen TV or the $1,500 jewel from Tiffany, They can't buy both anymore."
With stock prices falling and energy costs rising, cutbacks in spending by wealthier consumers could put the final whammy on the economy's engine.
"We think the wheels are about ready to fall off the proverbial truck here," said Platt. "We think things are going to get a lot worse than better in the first quarter, first half of '08."
Pinkston reports that this is a view shared by many analysts. While everyone waits to see just how far the economy will fall, consumers across the board are becoming more nervous, and more careful, about where they spend their money.
Recession? http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3703434n?source=mostpop_video
A Normally Resilient Consumer Sector Is Having To Start Making Harder Choices About Spending
(CBS) It's another sign of economic doldrums - Tiffany's, the jewel of the nation's luxury retailers, is loosing its luster. Holiday sales in its U.S. stores were disappointing.
Even though Tiffany's wealthiest customers continued to spend, with strong sales for 10 to 50-thousand dollars items, one important group, the mid-tier luxury consumer, held back on the 1-thousand to 10-thousand dollar purchases.
Candace Corlett's company, WSL Strategic Retail, monitors consumer spending. She spoke with CBS News correspondent Randall Pinkston and described the factors affecting these consumers' spending.
"This holiday season with the increasing mortgage rates, the increasing fuel prices," Corlett explained, "this upper tier shopper hit the wall."
Other high end retailers like Nordstroms, Saks and Coach were also down, joining JC Penny's, Macy's and Target, suggesting that shoppers across the board tightened their purse strings.
Retail analyst Steven Platt is seeing the impact of this trend.
"Between high debt levels, trouble in the real estate market, trouble in the stock market, deteriorating labor market, high energy prices - the consumer's spent," Platt said. "They have no place left to go but cut back."
Consumer spending, especially among the upper middle-class, normally keeps the economy ticking, but for the first time in years, that group is making hard choices.
"It's a new situation for them," Corlett noted. "They now have to choose whether it'll be the $1,500 flat screen TV or the $1,500 jewel from Tiffany, They can't buy both anymore."
With stock prices falling and energy costs rising, cutbacks in spending by wealthier consumers could put the final whammy on the economy's engine.
"We think the wheels are about ready to fall off the proverbial truck here," said Platt. "We think things are going to get a lot worse than better in the first quarter, first half of '08."
Pinkston reports that this is a view shared by many analysts. While everyone waits to see just how far the economy will fall, consumers across the board are becoming more nervous, and more careful, about where they spend their money.
Recession? http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3703434n?source=mostpop_video
Yes, that's always a big sign of recession....
When I think of the word "recession", I picture oil barons jumping off windows because they lost all their fortunes. Sounds like it is happening again. Maybe not as bad as 29 though. But who knows......
When I think of the word "recession", I picture oil barons jumping off windows because they lost all their fortunes. Sounds like it is happening again. Maybe not as bad as 29 though. But who knows......
Carcano
Valued Senior Member
Oil barons will be delighted this time, because the price of their product is headed up permanently.
Everyone else though will be hurting, because a high cost of energy slows everything down in any economy.
Even the price of lettuce will be affected.
The next decade will be a painful transitional period to a renewable energy economy.
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