SiamHotel Posted October 14, 2008 Report Share Posted October 14, 2008 ........ buahhhh eh! :twisted: Quote Link to comment Share on other sites More sharing options...
joefarang Posted October 14, 2008 Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... Quote Link to comment Share on other sites More sharing options...
beej Posted October 14, 2008 Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... I like the way Joe public blames the Bank management, I lay a heap of blame on Joe public's borrowing and inability to pay back what they owe. Quote Link to comment Share on other sites More sharing options...
eagle Posted October 14, 2008 Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... I like the way Joe public blames the Bank management, I lay a heap of blame on Joe public's borrowing and inability to pay back what they owe. yea Joe is a dummy but then the whole idea is to get hooked on credit. IN the US anyway and I'm sure its global also credit is seducing people into a whole. There were regulations in pace but they deregulated so some people could rake in more bucks. f**ked up ? you bet. Quote Link to comment Share on other sites More sharing options...
Cosmo Posted October 14, 2008 Author Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... I like the way Joe public blames the Bank management, I lay a heap of blame on Joe public's borrowing and inability to pay back what they owe. Agree, the average Joe should share a huge part of the blame. Nobody criticizes the average Joe for walking away from his obligations to the bank. People seem to forget it was the average Joe who borrowed huge amounts of money to buy homes on no money down and in many cases, no interest repayments on the loan - yeah...just capitalise it to the existing loan - the rising property prices will take care of it.... :roll: :roll: :roll: Literally free, no need to pay rent.....who wouldn't want such a deal?!? But when the downside came, see you later, alligator. Yup...its all the bank's fault ..... :roll: :shock: :roll: Quote Link to comment Share on other sites More sharing options...
stegee Posted October 14, 2008 Report Share Posted October 14, 2008 keep an eye out for markets plummeting again within the week!! sell!! SEll! SELL!!:wink: Quote Link to comment Share on other sites More sharing options...
lizardo Posted October 14, 2008 Report Share Posted October 14, 2008 all the markets up massively today...great...so speculators continue to make a mint.... Quote Link to comment Share on other sites More sharing options...
Cosmo Posted October 14, 2008 Author Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... I like the way Joe public blames the Bank management, I lay a heap of blame on Joe public's borrowing and inability to pay back what they owe. Agree, the average Joe should share a huge part of the blame. Nobody criticizes the average Joe for walking away from his obligations to the bank. People seem to forget it was the average Joe who borrowed huge amounts of money to buy homes on no money down and in many cases, no interest repayments on the loan - yeah...just capitalise it to the existing loan - the rising property prices will take care of it.... :roll: :roll: :roll: Literally free, no need to pay rent.....who wouldn't want such a deal?!? But when the downside came, see you later, alligator. Yup...its all the bank's fault ..... :roll: :shock: :roll: Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort. The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again. But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching. The man increased his price to $25 each and the supply of monkeys became so scarce that it was an effort to even see a monkey, much less catch one. The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf. While the man was away the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.' The villagers rounded up all their savings and bought all the monkeys. They never saw the man nor his assistant again and once more there were monkeys everywhere. Perhaps you now have a better understanding of how the stock market works! That is more of an analogy of the property market than the share market. I am more than capable of understanding the stock markets. I make money whether the market goes up or down.... It just come across as unseemly to mention one is making money when the market was going down....better to mention you made money when everybody else is making money too - that is when the market is going up.... :roll: :roll: :roll: Quote Link to comment Share on other sites More sharing options...
luckyphil247 Posted October 14, 2008 Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... I like the way Joe public blames the Bank management, I lay a heap of blame on Joe public's borrowing and inability to pay back what they owe. Agree, the average Joe should share a huge part of the blame. Nobody criticizes the average Joe for walking away from his obligations to the bank. People seem to forget it was the average Joe who borrowed huge amounts of money to buy homes on no money down and in many cases, no interest repayments on the loan - yeah...just capitalise it to the existing loan - the rising property prices will take care of it.... :roll: :roll: :roll: Literally free, no need to pay rent.....who wouldn't want such a deal?!? But when the downside came, see you later, alligator. Yup...its all the bank's fault ..... :roll: :shock: :roll: Damn right its the Bank's fault , and I'm not being sarcastic . Banks are in the business of making money NOT losing money . Many of them got carried away by giving loans to people with little or no security . They were happy making good money from the interest they were charging every month . However they grossly overestimated the values of those properties . Not knowing the future of the economy and in particular the property market isn't an excuse . It's their job to know . The Bank executives have neglected their primary duties to their shareholders , and that is to make MONEY . People that borrowed money from Banks aren't to blame . Its the Banks for financing them with little or no deposits in an over-inflated property market . Bank executives have f*cked up big time and thinking anything else is just excusing them . Quote Link to comment Share on other sites More sharing options...
GoldMember Posted October 14, 2008 Report Share Posted October 14, 2008 OMG, what a night.The dow soared 890 points or 10.5%. The Nasdaq up 190 points or 11%. The S&P 500 up 99 points or 11.4%. yeah, and all because various governments promised to buy up shares in their respective crappily managed banks. (otherwise known as fixing the market) astounds me that these so called financial experts claim to be able to sense the markets, predict minute fluctuations, and then a whopping great world-wide recession hits like a fu*kin' tsunami, and they're all like "oh fu*k! help!!" "we deserve help!" as if it's a surprise...... I like the way Joe public blames the Bank management, I lay a heap of blame on Joe public's borrowing and inability to pay back what they owe. Agree, the average Joe should share a huge part of the blame. Nobody criticizes the average Joe for walking away from his obligations to the bank. People seem to forget it was the average Joe who borrowed huge amounts of money to buy homes on no money down and in many cases, no interest repayments on the loan - yeah...just capitalise it to the existing loan - the rising property prices will take care of it.... :roll: :roll: :roll: Literally free, no need to pay rent.....who wouldn't want such a deal?!? But when the downside came, see you later, alligator. Yup...its all the bank's fault ..... :roll: :shock: :roll: Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them. The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort. The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again. But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching. The man increased his price to $25 each and the supply of monkeys became so scarce that it was an effort to even see a monkey, much less catch one. The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf. While the man was away the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.' The villagers rounded up all their savings and bought all the monkeys. They never saw the man nor his assistant again and once more there were monkeys everywhere. Perhaps you now have a better understanding of how the stock market works! I love those Aesops fables.But times have changed.The guy could have simply collateralised a 1000 monkeys into new Primate CDOs,got them a S&P AAA rating and sold them onto investment institutions.Then wait to see who the real monkeys are. Quote Link to comment Share on other sites More sharing options...
dundee_thailand Posted October 14, 2008 Report Share Posted October 14, 2008 That man's name was Mr.Taksin ? Quote Link to comment Share on other sites More sharing options...
beej Posted October 14, 2008 Report Share Posted October 14, 2008 If I had a spare £10,000 sitting around I'd pop it into Lloyds shares on the LSE at 149p each, killing to be made there! Quote Link to comment Share on other sites More sharing options...
funky_house Posted October 15, 2008 Report Share Posted October 15, 2008 Investment banker, overheard in a bar: This credit crunch is worse than a marriage! I've lost half my fortune, and I STILL have a wife!! Quote Link to comment Share on other sites More sharing options...
Dave40 Posted October 16, 2008 Report Share Posted October 16, 2008 keep an eye out for markets plummeting again within the week!! sell!! SEll! SELL!!:wink: Steve do you know the lucky lotto numbers!!! Dow Jones industrial average plummeting 733 points, or nearly 8 percent. There was also a simpler explanation: the economy is in trouble and the recession may be longer and deeper than initially feared. Those concerns were reinforced on Wednesday morning by a report that showed that retail spending declined in September, and in the afternoon by downbeat comments by the Federal Reserve chairman, Ben Bernanke. http://www.iht.com/articles/2008/10/16/business/16bear.php Quote Link to comment Share on other sites More sharing options...
beej Posted October 28, 2008 Report Share Posted October 28, 2008 WOW I needed to move a chunk of cash over today from the UK and the exchange is only 54 baht to the pound!!!!!! 2 months ago it was 66 baht to the pound. I moved £100k over a couple months ago if I had done it now I would have lost 1,200,000 baht. **** thats a crazy drop in 2 months! Quote Link to comment Share on other sites More sharing options...
Bruce551 Posted October 28, 2008 Report Share Posted October 28, 2008 In Japan, a Robust Yen Undermines the Markets By MARTIN FACKLER 28 Oct 08, NY Times TOKYO ? Tumbling stock markets and falling currencies are causing global concern, but the Japanese yen is generating high anxiety for rising too much. The yen surged as much as 10 percent against the dollar last week. In the last month, it has gained an astounding 34 percent against the euro. One reason the yen is rising is investors? flight to quality. Another reason, many economists say, is the sudden end of one of the world?s biggest easy-money schemes, the so-called yen-carry trade. The yen?s rise helped hammer Tokyo?s beleaguered stock market Monday. Share prices hit a 26-year low and are down 50 percent this year. A strong yen makes Japanese products more expensive during a recession in Europe and North America, hurting the profits of Japanese exporters. Finance ministers from the world?s seven wealthiest nations issued a joint statement as the Tokyo market sank, saying they were ?concerned about the recent excessive volatility in the exchange rate of the yen and its possible adverse implications for economic and financial stability.? But the yen remained strong as investors signaled their doubt that governments would intervene to stop the yen?s gains. Christine Lagarde, the French finance minister, confirmed as much in an interview with Bloomberg News. The yen?s rise is owed, in part, to its status as a safe haven ? in turbulent times, investors move money into the currency because Japan is the world?s largest economy after the United States?, and its banking system has limited exposure to the subprime crisis, even though it faces recession. But currency analysts say most of the yen?s recent gains are because of the abrupt end of the yen-carry trade. For much of this decade, Japanese and foreigners alike borrowed money in Japan, where interest rates were very low and money was therefore cheap. They invested that money in higher yielding assets across the world, from home loans in Budapest and Seoul to equities in Mumbai. This turned Japan, with its $15 trillion in personal savings built up by the nation?s chronic trade surpluses, into a provider of low-cost capital for the rest of the world. No one knows for sure how large this outflow of yen was. Much of the yen-carry trade took place beyond public scrutiny, in the form of currency options or other types of derivatives trading. Most analysts agree its size was in the hundreds of billions of dollars, with some estimating it reached well more than half a trillion dollars. As the yen-carry trade grew, currency analysts warned it was a bubble of cheap credit, which one day would burst. http://www.nytimes.com/2008/10/28/business/worldbusiness/28yen.html The Times They Are A Changing........ :roll: Quote Link to comment Share on other sites More sharing options...
Cosmo Posted November 8, 2008 Author Report Share Posted November 8, 2008 WASHINGTON (AP) -- The nation's jobless ranks zoomed past 10 million last month, the most in a quarter-century, as piles of pink slips shut factory gates and office doors to 240,000 more Americans with the holidays nearing. Politicians and economists agreed on a painful bottom line: It's only going to get worse. The unemployment rate soared to a 14-year high of 6.5 percent, the government said Friday, up from 6.1 percent just a month earlier. And there was more grim news from U.S. automakers: Ford Motor Co. and General Motors Corp., American giants struggling to survive, each reported big losses and figured to be announcing even more job cuts before long. Quote Link to comment Share on other sites More sharing options...
alvish Posted November 8, 2008 Report Share Posted November 8, 2008 To lazy to read the past 24 pages but has any1 got an idea when exchange rates might change... or if they wil change??? I got off plan property coming up soon and at current rates am paying over 40,000++ US more than expected... hope to have them sorted by the end of March 09 while the tax incentives are still going (transfer fees from 2% to 0.1%). Heard the FTI (Federation of Thai Industries) warned a 30% drop in exports??? They say it will prolong till the start of 2009??? Does this mean they are dropping the exchange rate at the start of 09?? This all sounds bullshit from the FTI as always... any experts out there in the know??? Quote Link to comment Share on other sites More sharing options...
zeusbheld Posted November 8, 2008 Report Share Posted November 8, 2008 the dollar has been a little stronger, lately, in the 35 baht range. Quote Link to comment Share on other sites More sharing options...
alvish Posted November 8, 2008 Report Share Posted November 8, 2008 The bahts set with the dollar and the GB pound manages to keep dropping against the dollar so still a kick in the nuts here.. http://www.krungsri.com/eng/exchange01.aspx The girls living in NYC right now and all chuffed with the extra bit of income from Thailand but doesn't realise if things stay this way theres a chance she may not get her condo or at least she won't get her magic ice making fridge.. Quote Link to comment Share on other sites More sharing options...
beej Posted November 8, 2008 Report Share Posted November 8, 2008 The bahts set with the dollar and the GB pound manages to keep dropping against the dollar so still a kick in the nuts here.. http://www.krungsri.com/eng/exchange01.aspx The girls living in NYC right now and all chuffed with the extra bit of income from Thailand but doesn't realise if things stay this way theres a chance she may not get her condo or at least she won't get her magic ice making fridge.. Man I had to bang the magic ice making fridge on the head too!!! 1.00 GBP=54.7499 THB today, thats dire! Can't help but think they are buying up cheap foreign currency before the economy pops here and goes down the drain. Should be back up to 60baht by Feb........ I hope! Quote Link to comment Share on other sites More sharing options...
alvish Posted November 9, 2008 Report Share Posted November 9, 2008 The bahts set with the dollar and the GB pound manages to keep dropping against the dollar so still a kick in the nuts here.. http://www.krungsri.com/eng/exchange01.aspx The girls living in NYC right now and all chuffed with the extra bit of income from Thailand but doesn't realise if things stay this way theres a chance she may not get her condo or at least she won't get her magic ice making fridge.. Man I had to bang the magic ice making fridge on the head too!!! 1.00 GBP=54.7499 THB today, thats dire! Can't help but think they are buying up cheap foreign currency before the economy pops here and goes down the drain. Should be back up to 60baht by Feb........ I hope! Really don't wanna give up on Sangsom Slush Puppies... 60 would be good... plus I have confidence in my luck.. certainly can't see it getting worse Quote Link to comment Share on other sites More sharing options...
beej Posted November 9, 2008 Report Share Posted November 9, 2008 The bahts set with the dollar and the GB pound manages to keep dropping against the dollar so still a kick in the nuts here.. http://www.krungsri.com/eng/exchange01.aspx The girls living in NYC right now and all chuffed with the extra bit of income from Thailand but doesn't realise if things stay this way theres a chance she may not get her condo or at least she won't get her magic ice making fridge.. Man I had to bang the magic ice making fridge on the head too!!! 1.00 GBP=54.7499 THB today, thats dire! Can't help but think they are buying up cheap foreign currency before the economy pops here and goes down the drain. Should be back up to 60baht by Feb........ I hope! Really don't wanna give up on Sangsom Slush Puppies... 60 would be good... plus I have confidence in my luck.. certainly can't see it getting worse Man I folded when they explained to me how it was going to be plumbed in and the technicalities, on top of that the thought of 40,000 extra only for crushed ice........ one day I will though. I'm gutted because the money is in my pound account in Thailand and I didn't bother to convert it, now my kitchens going to cost 150,000 along with the wooden floors, builders and all that are not 20% more expensive. rahh rahhhr ahhh Quote Link to comment Share on other sites More sharing options...
funky_house Posted November 9, 2008 Report Share Posted November 9, 2008 The bahts set with the dollar and the GB pound manages to keep dropping against the dollar so still a kick in the nuts here.. http://www.krungsri.com/eng/exchange01.aspx The girls living in NYC right now and all chuffed with the extra bit of income from Thailand but doesn't realise if things stay this way theres a chance she may not get her condo or at least she won't get her magic ice making fridge.. Man I had to bang the magic ice making fridge on the head too!!! 1.00 GBP=54.7499 THB today, thats dire! Can't help but think they are buying up cheap foreign currency before the economy pops here and goes down the drain. Should be back up to 60baht by Feb........ I hope! Really don't wanna give up on Sangsom Slush Puppies... 60 would be good... plus I have confidence in my luck.. certainly can't see it getting worse Man I folded when they explained to me how it was going to be plumbed in and the technicalities, on top of that the thought of 40,000 extra only for crushed ice........ one day I will though. I'm gutted because the money is in my pound account in Thailand and I didn't bother to convert it, now my kitchens going to cost 150,000 along with the wooden floors, builders and all that are not 20% more expensive. rahh rahhhr ahhh Where can you open a Pound or Euro account in Thailand? Can you pay in foreign currency in country? Or does it have to be sent in? Can these accounts be used to send in money to buy property? I tell you, those ice making fridges; on a hot day, slush, chipped ice, or ice cubes in a drink. Really hits the spot. Not sure about using the water supply in BKK though. You would definitely need a good filtration system. Quote Link to comment Share on other sites More sharing options...
beej Posted November 9, 2008 Report Share Posted November 9, 2008 The bahts set with the dollar and the GB pound manages to keep dropping against the dollar so still a kick in the nuts here.. http://www.krungsri.com/eng/exchange01.aspx The girls living in NYC right now and all chuffed with the extra bit of income from Thailand but doesn't realise if things stay this way theres a chance she may not get her condo or at least she won't get her magic ice making fridge.. Man I had to bang the magic ice making fridge on the head too!!! 1.00 GBP=54.7499 THB today, thats dire! Can't help but think they are buying up cheap foreign currency before the economy pops here and goes down the drain. Should be back up to 60baht by Feb........ I hope! Really don't wanna give up on Sangsom Slush Puppies... 60 would be good... plus I have confidence in my luck.. certainly can't see it getting worse Man I folded when they explained to me how it was going to be plumbed in and the technicalities, on top of that the thought of 40,000 extra only for crushed ice........ one day I will though. I'm gutted because the money is in my pound account in Thailand and I didn't bother to convert it, now my kitchens going to cost 150,000 along with the wooden floors, builders and all that are not 20% more expensive. rahh rahhhr ahhh Where can you open a Pound or Euro account in Thailand? Can you pay in foreign currency in country? Or does it have to be sent in? Can these accounts be used to send in money to buy property? I tell you, those ice making fridges; on a hot day, slush, chipped ice, or ice cubes in a drink. Really hits the spot. Not sure about using the water supply in BKK though. You would definitely need a good filtration system. I use HSBC and always send pounds back and forth Thailand, it only costs £11 no matter how much you send, then you can move it into your Baht account when ever you wish, and in any amount. I believe a few banks offer this service but not too sure. Quote Link to comment Share on other sites More sharing options...
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