retired_the gizmo

"reeling".

I quote mark twain, "the news of my death has been greatly exaggerated"

retired_stevesgrl

tbf to daaaaave the Fed Beige Book released just the two days ago still has most federal regions growing at a moderate pace. Growth I think is still projected to be somewhere in the 3% region. Joblessness is still at fairly low levels. I would hardly call the US economy reeling.

Yes it is possibly in a precarious state as a result of the subprime issue, but that is yet to filter into the real economy.

retired_jhr2211

Id say it was reeling, much like the european market although to a lesser extent in the EU case.

How many billions did the fed pump into the market during late july early august?

If I remember the Dow lost about 10% in 7 days?

Sachs dropped about $2-3bn to shore up its value.

The fed and the ecb lowered interbank loan rates.

Hardly "booming".

retired_derek

Do what Hector said.

retired_jhr2211

and you missed my point about the non existant effect of a few thousand pounds being introduced into the USA on the pretense its somehow an "achievment".

Best stick to the CIA thread, at leats i agree with you in what you say there :p

retired_stevesgrl

As I said Kris it's in a precarious state in that the extent of the subprime issue is yet to be fully understood. But then as you point out so too are EU countries.

Granted equity markets have given back a lot in the last month and a bit. But you have to ask yourself off what base are you working? YTD the Dow is still handsomely up.

And as I stated, there is no evidence as yet the actual economy (in the US and elsewhere in the world) has been affected by the subprime issue.

retired_jhr2211

Id be very very suprised if the subprime doesnt have an adverse affect on the US (and to a lesser extent the EU) markets.

My point was that both markets were reeling, the EU to a lesser degree, if you are even ignoring daaaaaves rather absurd idea that people exploiting a strong exchange rate is somehow making them "mugs/idiots".

retired_stevesgrl

ah. you see i would seperate economy and markets. i agree the markets are reeling. i would say that we do not know yet whether the economies will reel.

i didn't give attention to daaaave's remarks about people going to a country whose currency is weaker. i couldn't defend that in any way. unless the country was crap of course. maybe that's what daaaave is saying about the us.

retired_jhr2211

thats whats being in the finance indsutry does to you/me

When I said economy I was referring to the financial markets. Although any positive or negative in these tend to have a knock on effect on the layman economy.

retired_the gizmo

as you well know, a weak dollar's draw extends far beyond the travel industry. asia is crying uncle due to our "competitive advantage" right now and basically demanding we strengthen the dollar so their imports look better.

and domestic goods are cheap. foreign investment is still booming. what do I care if I can't vacation abroad this year?

as for the subprime collapse? bring it on. I'm eagerly looking forward to picking up a foreclosed mcmansion on the cheap. fed rate still at 5.25% giving lots of room to move.