Do you believe the Bushit "recovery"... or Soros/ Buffet $ short selling?

[TruthIsAll]

I wouldn't bet against these guys.

Know this: BushCO has no respect for the TRUTH. So why believe that the vaunted recovery is sustainable? Because you heard it on MSNBC?

Kudlow and Cramer. Right.


http://www.nypost.com/business/43258.htm

SOROS, BUFFETT BET vs. DOLLAR

By PAUL THARP

November 29, 2003 -- Smart money players Warren Buffett and George Soros are making huge bets the dollar will continue its slide to new lows all next year.

The greenback hit its lowest level ever against the euro yesterday, dropped to a five-year low against the British pound and fell to a 10-year bottom against the Canadian dollar.

snip

Buffet made no secret about his dollar bets, saying in a letter published on Fortune.com last month that his Berkshire group has made "significant" foreign currency purchases in the last year because he thinks the U.S. trade deficit will erode the dollar.

Traders in London said Soros and numerous other speculators have been building substantial "short" positions against the dollar, according to the Independent.

more...

[Eric J in MN]

1. The tax-cuts are "front-loaded" to give a stimulus before election

The Bush tax-cuts are "front-loaded" to give a stimulus before election.

The reporters rave about how wonderful growth is before the election, then the stimulus declines after the election and we're stuck with Bush if he wins (or if his campaign cheats again).

[Wwagsthedog]

6. Hate to tell you this Eric....

....but because of what the current idiots have done, it won't matter economically who wins in 2004. It will take years of tight belts and a completely changed government to fix what is broken. Winning in 2004 will be a good start.

[ramapo]

2. Both

There may be a "recovery" built upon debt that "may" continue over the next 6-12 months. There are powerful forces manipulating economic news and our economy.

At some point the house of cards will crumble. Foreigners will stop propping up the dollar either because they realize that our economy has become a paper tiger and/or they realize that the U.S. empire can be stopped only through an economic attack.

[SadEagle]

4. Question, as you seem to know a few things about economics...

My intuition tells me that the fall of dollar wrt to the other currencies will have to eventually result in inflation at home, as many things are produced at least partially outside the U.S, and so would correspondigly cost more in USD... Is that the case, and if so when/how will we feel it?

[Wwagsthedog]

7. Watch long term interest rates. eom

[Jacobin]

3. There is no other way for it to go.

Giant current account deficits. the dollar is expected to fall 20% against the euro in the next 18 months.

[gristy]

5. Well, shit, if I put my cash in Euros I can make 20% in 18 months?

Is that right?

[the_real_38]

10. seems to be...

... unless we reverse field quickly. I tell you, man, foreign purchase of securities dropped in September from 45 to 4 billion - the shit is about to hit the fan. We've banked on foreign money to offset the trade deficit since 1993, and that only worked because solid budget policy made this a good place to invest. Now the capital is drying up quick, and to get foreign cash to finance the deficit, we're going to have to raise interest rates - which is going to put the big slamboosky on the economy. George W. Bush is a fuck-up, and you can't trade your essence for another one.

[aquart]

8. Putting a dime in this market is insane.

NOTHING has been done to make trading more secure, or to protect the investor from unscrupulous traders and lying corporations.

Not to mention that corporations are being routinely looted by their executives under the designation "compensation."

[aquart]

9. Putting a dime in this market is insane.

NOTHING has been done to make trading more secure, or to protect the investor from unscrupulous traders and lying corporations.

Not to mention that corporations are being routinely looted by their executives under the designation "compensation."

[madrchsod]

11. not that long ago

the euro was at 85-90 cents to the dollar now its 1.20 to the dollar. so if i bought euro`s at 85 and now sold at 1.20-that`s alot more than 2.5% on my savings account or even government bonds..
no wonder the bush klan fired saddam-he converted his oil money to euro`s instesd of dollars....

[Isome]

12. *excitedly tapping my nose w/ my index finger like in charades*

Saddam's impending change to the Euro, and Venezuela's (Chavez) decision to nationalize oil and possibly change to the Euro, are all factors in the declining value of the dollar, the decision to invade Iraq and the backdoor support of the coup in Venezuela. Believe that!!

[pansypoo53219]

13. everybody spending that check they gots from george

and next year it will be back to that Wecovery that isn't.