IGX

Will check out the Chinese markets tonight. Coupled with this weekend's news in Greece, should make for a wild and crazy Monday.

Gary, any predictions other than wild & crazy times? I usually set stop losses on many of my holdings as I hate to give back any gains they've made. Right now I'm pretty much riding bareback.

Not too into the financials, other than maxing out the 401k and IRA's every year. Just don't know enough to do anything other than invest in a mutual fund that's not too aggressive and hope for the best.
One thing that does worry me about the markets being so reactionary is that they basically hold policy makers hostage. Nobody will put a real plan into place for fear of tanking the markets and pissing people off short term.

I'm in cash equilivents. Doesn't guarntee the money markets won't break the buck.

So fucking much debt....close to zero interest rates...no where to hide.

Again, we will see. Greece has been a bad movie, they have defaulted many times in their history. I laugh when folks who earn their money talking about this stuff, claim a default is already figured into markets.

Japanese markets open in 10 minutes. Futures are way down all over. Pretty sure central bankers are in the planes ready to parachute in more bond and equity buying, which just keeps the can going down the round.

I know, I'm alone on this one. Just enjoying the ride.

To paraphrase Donald Trump:

Owe someone 10 million and they own you.

Owe someone 10 billion and you own them.

bennyonesix wrote:To paraphrase Donald Trump:

Owe someone 10 million and they own you.

Owe someone 10 billion and you own them.

Germany's main concern is not Greece. Their concern is the effect that Greece's default will have on countries (and banks) that can have a major effect on them.
http://www.theguardian.com/world/databl ... nd-to-lose

The point is the power shifts in debtor/creditor relationships.

It has shifted here.

Because Euroland is so exposed Greece's paltry debt = HUGENESS.

Tsipras knows the Euros don't want to pay him but they must to stop systemic collapse.

And make no mistake. Tsipras wants more than the debt taken care of.

Of course, Italy has a much much larger debt but all it takes to threaten the system is what Greece owes and they are first in line to get paid.

Buying opportunity.

Greece = 11 million people. Not going to have a big effect on global economy. What spooks investors is uncertainty. So does Greece leave the Euro? Or not. What will that mean for the global economy.
,
My opinion: not much.

They leave the Euro, fine, the Eurozone is stronger for it.

They stay with the Euro: fine, a crisis averted.

It's the uncertainty that weighs on the market. But either way, it'll be just fine once it is settled and there is no more uncertainty. A while ago, I sold some stocks so I have money for this opportunity. I want good stocks --- Apple, Disney, Starbucks, like that --- that have always been too expensive for me.

I think the Greek panic, if it happens, will be an opportunity to buy.

I sold some stocks so I have money for this opportunity. I want good stocks --- Apple, Disney, Starbucks, like that --- that have always been too expensive for me.

This is not good process.

Drones will be the next game change. There is plenty of food we just can't get it to people before it spoils. Drones will change that. An interesting place to start research might be startups and existing produce companies in Sub-Continent Asia and Africa.

Benny, Thanks for the advice, moronic as it is.

The question was what about Greece and the stock market. The answer I gave was that it is a buying opportunity. You tell me to invest in some snake oil non-public company that might make some money 15 years from now.

Have you done that? Of course not. Dickhead.

If I'm wrong, tell me what company you have a stake in and we'll track it right here.

I didn't think so.

Fuck you old man. Your process is shit.

Please disregard what I suggested.

http://www.npr.org/sections/goatsandsod ... ng-donkeys

So far, not too bad. S&P needs to hold 2070 (or 2072, not really paying that much attention.

Puerto Rico is bankrupt, but there is no court for their problems. Our Greece, any city or state that has a huge pension obligation, without the ability to pay. Means if you are blue, you are screwed.

Not so sure about a buying opportunity. Hedge funds have some serious hangover positions.

Benny is making more sense than any economist, financial guru or god forbid, CNBC.

I recommend selling all of your stocks and using the money to buy Greek yogurt by the truckload.

Seemed like a pretty big drop in the major U.S. markets today to me Gary.

Pinky wrote:I recommend selling all of your stocks and using the money to buy Greek yogurt by the truckload.

GREEK YOHGURT KEEPS A LONG TIME IN AN UNDERGROUND BUNKER AND IS DELICIOUS WITH HUNNY!!!! ISAIAH 7:15-6

I KNOW RITE THE LAST ECONOMIC THING WAS NOT A BIG DEAL!!!

A buddy of mine in Australia talks about how the huge real estate bubble there is going to pop soon

Shangai down over another 5% so far tonight. It is all over the place. Kind of fun to watch. Never a bear, until the last couple of months.

Shafpocalypse Now wrote:A buddy of mine in Australia talks about how the huge real estate bubble there is going to pop soon

Yup.

OCG wrote:

Shafpocalypse Now wrote:A buddy of mine in Australia talks about how the huge real estate bubble there is going to pop soon

Yup.

Considering how much AUS's economy is based on supplying raw materials to China... It might be not a great time to buy property down there...

http://www.theatlantic.com/internationa ... se/397724/

But the season’s biggest economic crisis may be occurring in Asia, where shares in China’s two major stock exchanges have nosedived in the past three weeks. Since June 12, the Shanghai stock exchange has lost 24 percent of its value, while the damage in the southern city of Shenzhen has been even greater at 30 percent. The tumble has already wiped out more than $2.4 trillion in wealth—a figure roughly 10 times the size of Greece’s economy.

The market in China has been stupid for a few years now. They have been encouraging people to toss as much money into it as possible. It's like a bubble on acid. You literally will get stock "advice" from taxi drivers there in recent months for guaranteed ways to make money.

I say buying opportunity. I don't think the market is done going down, but I will set up a paper portfolio consisting of one ETF, the Vanguard Total Market Fund, VTI. If this was for me, I'd wait a while, but, just to prove I'm right and everyone else is wrong, I'll buy it now on paper: $107.04. At 1:11pm Eastern time, July 7, 2015.

100 shares, VTI, $107.04. Cost $10,704.

Set it and forget it. I suspect it will go down in the short run, but we'll revisit at six months intervals and see if we had a buying opportunity or not.

Chinese have done just about everything to halt the slide. Up around 6% yesterday, and right now, about 6.2%; just short of 4k. Most of the time, there is about a 50% retracement on a big down. Closing in on that. I think they can't keep this market up.

We are breaking down right now. Market stalled out in May. We'll see. Fiat money and debt, the can they have been kicking down the road might turn to cement.