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Posts by "daveo"
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Posts by Anonymous "daveo":
I like Mervyn King at BOE because he has been honest and he is not a puppet to politicians like the previous guy Eddie George. Eddie was a puppet and presided over Brown's term as chancellor of the exchequer. Between them they did some terrible things and I even warned the FSA regulator in 2002 that their shit was gonna hit the fan in a big way. Made no difference, little me ! Eddie boy retired to a home just over the hill from me and then died a coupla years ago. His wife is still in the mansion. Nice guy but a puppet who was responsible for great damage colluding with Brown and facilitating Brown's poor judgement.
I like Mervyn King and have high respect for him. I also like Cameron and I like that the coalition partnership was forced by the democratic process. I hate our prospects and I blame Brown and Greenspan.
Please explain "Black Wednesday" to me. You have to realise I am not deeply into fundamentals but I have a great load of common sense. I never thought the common currency for EU could possibly work and I have always hated relinquising power to Brussels. I am a very traditional Brit and a royalist :-)
To be honest I think UK and Germany are 100 miles apart. I don't have the confidence in uk economy and our ability to make the planned deficit cuts and thereby retain control from the bond markets and credit agencies. For me, Germany is about the only nation with a potentially sound economy and wonderful manufacturing export base but they need to get back to their own currency, ha.
Therefore I take hardly any notice of the miriad of economic analysts all punting their opinions. The only economics commentator I read is John Mauldin who has proven himself to me over 10 year period. I really do trade what my charts are telling me for longer term positioning and just for fun I do some news trading intra day.
Following other analysts be they tech or fundamental has never been a good play. You only have to read prechter over last 15 year period to know that he has mixed his fundamental opinions onto his charts and the result of that is usually a disaster. Timing is everthing for trading.