I was reading some dollar commentary....
I know all the hyperinflationists out there think that strong dollar is bad for the market...
I tend to think longer term...
I think a strong dollar is good for the market... not in the short term, but the long term. It shows buying power is going up. It shows the country is getting stronger. It means that consumers could be recovering.
all inflation means is that if you are invested in semi hard assets you are losing less money than any one else. Over the long term you are still losing... and yes losing less than anyone else is a win.... but how if your stock goes up because more people are buying the shit they are selling.
How if people waist less money on Ipods, and paying insurance premiums that will never pay when you get injured. How if they buy a Car that lasts 10 years. How if people start getting what they pay for. Out of all that... we get a strong economy. Instead of McJobs buying McCrap!
Thursday, July 2, 2009
The dollar
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9 comments:
Strong dollar rewards good behavior. Those who have saved dollars and have no debt would have more buying power.
Over half of homeowners have no mortgage, and I would assume this same silent majority have no credit card debt and likely hold a lot of cash. These are the people that deserve a reward after the shit storm that hit us. I guarantee they are not loading up on iPods and Blackberrys, and certainly don't have "growth" stocks.
Pardon me if I have little remorse for the highly leveraged and underemployed. Their labor is now worth less than ever, and their leverage will cost more than ever.
Your gal Epperson saying that the crude market was compromised. Wait til that gets factored in when the adults come back next week. Glad I closed out the last of my oil services this week.
TICK started trending up at 10:20 or so, do you think this reverses again or do we get a slow recovery here?
Or are you watching Rosie on the Bonnie Hunt show today?
There was a nice nap....
we should get some down bars till
89... but failed moves fast moves..
I would suggest that we get 3 down bars but....
this fuckng market always messing with us.
Remember there are the day traders, the swing traders, the fast money, The Trading investors like barry and gartman, then the slow institutional types, the big fund managers that have to have meetings to decide what to do. Some of them won't puke till monday.
but I would think there may be some short covering at the end of day..
but I also think that most people knwo that the range needs to be tested and that doesn't happen for 10 more pts on the spx..
hey.... I'm underemployed!!!
Underemployed? Yeah, right. Well, regardless... I have no remorse.
Quick story: 20 year old med records clerk at the office asked me for advice about nursing school or some such thing. I recommended she get a nuclear technology certificate: 2 yrs Associates, no waiting list to get in, avg salary $72,000 due to severe shortage of these techs.
What did she do? Nothing. She bought a new $22,000 car, went to Vegas for vacation, never applied for any school, spent every penny of her paycheck. That was 3 yrs ago.
Now the office is talking lay-offs (yes, even medicine has problems), and frankly I have no remorse. When I was 23, I was in debt too-- but it was school debt investing in my own capital.
BTW, thanks for correcting T.Lo on the XL. Got some short at the open... 4.8% on my position so far. That should pay for some golf on my vacation next week.
I could be helping the GDP...
I do work hard... but the nap I just woke up from doesn't say that.
sharon epperson is denying the sell off in crude....
LOL... with all that supply out there..
sure maybe for the past 2 weeks there is more demand than supply, but it's the previous 12 months of too much supply and not enough demand.
correcting her was very un-Canadian of me.
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