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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
You right about NZDCAD and then probably AUDCAD will follow it down as well..
Hussman's opening line said it all for me. Having been in industry I find the global financial ponzi systems extremely irritating. Need to close down all the systems and transfer 90% of those employed in the financial industry back into "proper" jobs that have some value to mankind. As for traders/speculators our only claim to fame is to provide liquidity :-) my excuse is I am retired:-) Imagine how valuable all those GS algo mathematicians would be to the sciences ! Guys like Lloyd Blankefien who are too far gone we could send on the one way ticket to Mars where he would be closer to his god.
My perspective is its all going to end in utter disaster but no way we can nail the timing of the end of the end game. On that happy note I am hoping your Mr Carney brings a box of magic tricks to the UK ! I don't think more QE is the answer for the UK. We need to get the banks lending again but first they must have lessons in business credit assessment, back to school for the basics in banking !
I am not convinced by the now consensus that the US is on route to recovery. Didn't bad data start coming out from a couple of weeks ago, when euro started rallying? Better data before that could well be seasonal holiday effect. But I have not been following US econ data too closely, just a hunch.