Average Americans Getting Poorer

[redsfann]

I will take the US dollar from the day the Olympics start for the next 5 years. I'm looking forward to it. I think we are going to see a huge bull run on the dollar in the near/mid-term.

But it's highly likely that I am wrong.

I've been short the dollar for the last 2.5 years and have made some serious $$...and every time some "expert" on CNBC tells me that its time for the dollar to begin to rebound, it goes the other way and I short the sawbuck some more.
I'm staying short the dollar and long the Yen, Euro and the Swiss Franc until I see tangible evidence of a turnaround.
Sadly, I don't see that happening in the near future--next 2 or 3 years, IMO, and there is a distinct possibility that its much longer than that, if ever.
But as you say--there is a very good chance that I'M the one thats wrong. Time will tell....

 

[djv]

Hey Red's how you doing. I agree short the dollar has been working nice. Another thing I been doing is playing the DOG and SDS. Both good ways to short the market. Soon I may pull them because I think a little up tick may start in 30 days going into better weather.

 

[redsfann]

Hey Red's how you doing. I agree short the dollar has been working nice. Another thing I been doing is playing the DOG and SDS. Both good ways to short the market. Soon I may pull them because I think a little up tick may start in 30 days going into better weather.

Just fine here, Dave. I figured out the other day that its been at least 5 years since we got together for pizza and a cold beer....where the hell does the time go?
Doesn't help any that the family members that we were on our way to visit then don't live in that part of the state anymore...:shrug:

If LaCrosse still has that killer 4th of July fireworks display, we may have to make a roadie anyway...:00hour

Agree about DOG and SDS. Thought about those about this time last year, but everything I was reading in Barron's and other respected financial publications was that the dollar still had aways to fall, so I moved even more of the nest egg into shorting the buck and going long those other currencies I mentioned.

 

[djv]

Dam your right 5 years. Went fast. Yes we still have the fest and big fire works. Great Pizza same place. Come on up.

 

[bryanz]

My point was on your initial story/link/headline
Employers slash jobs by most in 5 years

You not only were quilty of getting duped but added to their propaganda by re-quoting them.

I'm not arguing point of some weak #'s out there-but no weaker than 2000 or after 911-however employment-inflation-interest rates certainly not threatening --yet.

You always seem to bring up the fact. I have been duped or you got me ???? You have somehow showed me up ???? I have never stated the obvious but I'm still waiting. You are out of your mind and league. I admit, that's not saying much.

 

[DOGS THAT BARK]

The housing bubble & the Tech bubble are different animals.... not even close.... our economy is based on spending and leverage. ...leverage = home values .... average Americans were not going out spending money based on their tech stock values, in the same way they have, based on their home values. Multiply the spending power that is gone based on every home owner and that = slow spending. Slow spending is no good for an economy that is fueled by crazed spending and no savings. We have come to the uphill part of the race.. This is where average Moms & Dads become heroes that their sons and daughters will never forget. DTB, stick your liberal tag up your ass. You know nothing about my ethic or the ethic of the America that I speak of. You can sit there and jerk off to your charts and #'s...I'm talking real world.

Maybe you change my mind--all you have to is explain how (in the real world) home value changes house payment or discretionary spending income--unless you live in the world of the home equity loan-

--and while your pondering that I believe you forgot another question--


"Riddle me this--when was the last time a person looking to buy their 1st home--at reasonable price and low interest rates--been better than right now--"

:0corn

 

[dawgball]

I've been short the dollar for the last 2.5 years and have made some serious $$...and every time some "expert" on CNBC tells me that its time for the dollar to begin to rebound, it goes the other way and I short the sawbuck some more.
I'm staying short the dollar and long the Yen, Euro and the Swiss Franc until I see tangible evidence of a turnaround.
Sadly, I don't see that happening in the near future--next 2 or 3 years, IMO, and there is a distinct possibility that its much longer than that, if ever.
But as you say--there is a very good chance that I'M the one thats wrong. Time will tell....

Did you just call me an expert on CNBC? That will be hard to forgive.

My feeling is that we may not be at the very bottom (impossible to call), but my money will not be shorting the US dollar over the next 2, 3, 5 year time span.

 

[Jabberwocky]

Hate tell you this jabbers--but if $ went to all time low or all time high--there are going to be those that benefit and those that suffer--someone happy someone sad.

Thanks DTB, I took economics at an actual university. The point that Murphy pointed out that you were wrong about it is that gas prices are at a historic high, not that the dollar was at an all time low.

 

[MadJack]

i swear it wasn't 2 weeks ago i paid $2.83 and yesterday it was $3.29. WTF??

and i don't usually pay any attention to prices because i'm an under 10,000 mile a year guy that doesn't usually give a fuk. i'm starting to now :shrug:

 

[redsfann]

Did you just call me an expert on CNBC? That will be hard to forgive.

My feeling is that we may not be at the very bottom (impossible to call), but my money will not be shorting the US dollar over the next 2, 3, 5 year time span.

No, Dawg, I wasn't calling you a CNBC "expert"; they have got dozens of them on every day-- I most always have CNBC on in the background while working--they have some really cute anchorwomen on that channel....:142hump:

And every once in a while one of the pundits has a good idea for making some $$....

I wouldn't be jumping into shorting the dollar right now either; but I've taken some profits off the table and I think, at least in the short-term, we see the dollar drop another 5-10%.

If you would have bought FXE on Jan 1st, 2008, you'd have made 14.5% YTD.....

 

[redsfann]

i swear it wasn't 2 weeks ago i paid $2.83 and yesterday it was $3.29. WTF??

and i don't usually pay any attention to prices because i'm an under 10,000 mile a year guy that doesn't usually give a fuk. i'm starting to now :shrug:

Anybody else believe the talk that we will see 4.00 a gallon by this summer? :scared

 

[bryanz]

Maybe you change my mind--all you have to is explain how (in the real world) home value changes house payment or discretionary spending income--unless you live in the world of the home equity loan-

--and while your pondering that I believe you forgot another question--


"Riddle me this--when was the last time a person looking to buy their 1st home--at reasonable price and low interest rates--been better than right now--"

:0corn

When was the first time I said home value changes house payments ??? NEVER !

 

[bryanz]

2ND : our economy the last 5 to 7 yrs has been driven by spending. spending that was fueled by property values... your last point is obyious it's great to buy a home right now... Question for you: why aren't homes selling in most parts of the Country ??? Billions of equity has been swept of the table, you have to be you not to see how that will slow this whole thing down. Yes there were people spending based on the value of there homes. The home equity loan business was huge that last 7yrs.

 

[DOGS THAT BARK]

When was the first time I said home value changes house payments ??? NEVER !

what you said was--

"Many Americans with the value of theirs homes down 30% on paper affects their ability to buy: cars,vacations,education,toys,food,family nite out, health care, fix your car, fix your home,_ "

--and my question is--
How does value of home effect their abilty to buy anything--when it has zilch to do with their discretionary income.

 

[bryanz]

what you said was--

"Many Americans with the value of theirs homes down 30% on paper affects their ability to buy: cars,vacations,education,toys,food,family nite out, health care, fix your car, fix your home,_ "

--and my question is--
How does value of home effect their abilty to buy anything--when it has zilch to do with their discretionary income.

your wrong.

 

[DOGS THAT BARK]

your wrong.

That certainly clears things up

Maybe you could give us a personal example of how lower home value will effect your ability to buy: cars,vacations,education,toys,food,family nite out, health care, fix your car, fix your home,_

I know--exit stage left again

 

[bryanz]

That certainly clears things up

Maybe you could give us a personal example of how lower home value will effect your ability to buy: cars,vacations,education,toys,food,family nite out, health care, fix your car, fix your home,_

I know--exit stage left again

If you can't figure out how the value of most homes in America being down 30% effects spending .... I can't help you ... maybe some here will waste their time and explain it for you .

 

[djv]

I would say your both right. If you stay in your home say another 10 years the value is not hurting you. You should have enough time to recover. But if your getting ready to sell of course it can hurt you.. Or if you got one of those screwed up loans and now want to lock it in that may hurt you. The thing you need to look out for is it hurting your credit rating. That can cause you more money for other credit. This is good lesson for kids to learn why there governmeent can't spend like nuts. And then give tax breaks at same time. Sooner or later you pay by printing worth less money.