“In the near term China will use domestic iron ore and reduce or refrain from using Brazilian iron ore,” the state-run newspaper China Securities Journal reported, citing Luo Bingsheng, head of the China Iron and Steel Association.
What this says... is the global slow down is real.... even the D word
Monday, September 29, 2008
China's Tug-Of-War With Vale
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7 comments:
Which d word: deflation or depression?
Depression.... Hopefully the fed and treasury will step in here and circumvent the house.
They just have to do it.
Print all the peso's we can.
Even with "some intervention"
this is a death spiral until the house gets it...
Eric,
to hear you, of all people, say "Depression"... that's just "wow".
I guess it would be Deflation -> Depression.
Do you still have RIO?
Puked it up.
I don't know what to say... This feels like a deathspiral till unemployment hits 20%.
Way to many idealoges caught up in "Free-Markets"... which is how it all happens.
They don't remember that the great depression lead to the broadest moves toward socialisum we have ever seen in "the New Deal".. and this time it will stick...
for the life of me, I can't think of a smart stock to play... We could get a bounce, but every day this goes on, more and more damage is done.
The house thinks they are bigger than the market, and it's going to show them.
There is a chance we could get a great bounce tomorrow... But the damage I'll bet is done. There is a great deal of systemic damage, Just keeping it from spreading will be a miracle. They will probably still pass it... and still we will lose a couple more companies or banks, unless there is some aggressive action in the next 24-48 hours
Still getting a feeling that's it's all staged, including the "failure" to pass the bailout. Can't explain, but it's weird.
Maybe the plan is to give the people a taste of the "free market" medicine, then it'll be easier to swiftly convert them to socialism.
Anyway...
I'll be short all week. Won't cover anything at all. Just thinking - what's better: shorting SPY directly or buying SDS for double the fun?
I'm worried that they ban shorting outright. I have a lot to make up for (my investment losses this year).
A client of ours just emailed, all smiles, says his "Gone fishin'" portfolio is doing well and he's avoiding the TV. He's in his 70's.
http://www.amazon.com/dp/0470112670/ref=nosim/?tag=wwwinvestme00-20
I'm here tomorrow so i'll be sure to bug you.
Going to bed now, Gnite.
common thought will be that we keep selling....
how well has common though gone
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