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  1. W

    All P.I.G.S. fed and ready to fly

    Geithner is one of Obama's fools. Volcker has it right.
  2. W

    All P.I.G.S. fed and ready to fly

    I think it is a given too...... Loose credit is a thing of the past for the next 10 years imho.....which is going to knock all asset classes, everywhere in the world......except USD and govt bonds, and gold. These would be a sensible hedge for Aussie property at least. Capital preservation is...
  3. W

    All P.I.G.S. fed and ready to fly

    I've just been pondering how much global consumption might decrease in the face of decreased credit. It's logical to assume consumption has to decrease by the amount of credit taken out of the system for the medium term. Economies living off higher levels of credit will be effected moreso...
  4. W

    All P.I.G.S. fed and ready to fly

  5. W

    All P.I.G.S. fed and ready to fly

    So IV, the thing I don't get about DCA, is how do you choose what portion of your capital you commit to each purchase? If you felt "more" uncertain, would you spend 12% at each leg down, as opposed to 20%? Personally, I think when there's so much fear around like this, it is arguably a better...
  6. W

    All P.I.G.S. fed and ready to fly

    Yes IV, the intrinsic value investors have been providing support in the last 24/7. But we're not out of the frying pan yet sunny Jim.... :) This will be up and down for months methinks. The Bondies are calling EU's 1T bluff. And let's keep in mind China's got to do some serious culling of...
  7. W

    All P.I.G.S. fed and ready to fly

    And some us are both, at the same time IV. :)
  8. W

    All P.I.G.S. fed and ready to fly

    and they'd be forced to decrease imports, especially euro priced ones. A weak Dracma? wouldn't allow it. More expensive imports, and the export advantage of a devalued currency, would act as incentive for them to increase production, for domestic consumption and exports. Indeed, many German...
  9. W

    All P.I.G.S. fed and ready to fly

    That's true Steve. Helmut Kohl was motivated by WWII contrition and do-gooder spirit, to include the PIIGS. German bankers and economists were very much against it.
  10. W

    All P.I.G.S. fed and ready to fly

    The PIIGS weren't originally included in the EU. They saw the benefit, and in one case, indebted Italy appealed to German self interest, making the case they were better to sell dairy to an EU member (on the Euro). Helmut Kohl paved the way for the rest of the PIIGS. I have come to respect...
  11. W

    All P.I.G.S. fed and ready to fly

    Interestingly, most of European Community have breached the Mastriicht Treaty re current account deficits. A great article via John Mauldin reveals the French were the ones pushing the Germans to support European Quantitative Easing. Easy to see why when their CAD is up there with the...
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