Forex Blog - Time Machine Deployed for Great Recession
Time Machine Deployed for
It may not be what Jules
Verne had in mind but officials in the US and China have approached the Great Recession with an approach
reminiscent of winding back the clock to 2006. The key to recovery is
driving risk assets ever higher on a massive infusion of liquidity (and in China credit) and in the process propping up
imbalances. The way to prevent an asset bubble from bursting in an
unwelcomed fashion is to simply put as much air back in as is escaping.
Whatever looked like a
transformational period for basic relationships like government footprint in
the economy, household savings, labor market conditions, leverage in the
banking system, bank lending, bank risk taking, healthcare reform, executive
compensation and regulatory reform is rapidly being pushed aside or watered
down. US stocks up 50% from the March low and Chinese stocks up 100% is all we
need to know. Even home prices in the US are turning in key depressed markets and in China they never really looked down.
On one issue after another
the activist US President is walking back from the generational changes (New
New Deal) that so many predicted as polls show support for the President
slippingâ€¦an even marginalized GOP seems to have retained a disproportionate
influence over the electorate on talk radio, cable TV and the conservative
press. If Rahm Emmanuel said never waste a crisis (to usher in your wish
list of reforms), he might now say what crisis?
The new normal that PIMCOâ€™s
El-Erian and Gross constantly mention and seemed appropriate now seems like a
bad Madison Avenue sales jingle. The new normal is just like the old
The Obama administration at
times (from the President to NECâ€™s Summers) says bankers are showing little
humility in the wake of the crisis and the governmentâ€™s largesse in saving
their behinds and are back to their old bad tricks in paying large bonuses and
taking inordinate risk. But the reality is the government, especially the
executive branch, never lowered the boom on bank compensation and risk
taking. If they had Goldman would not have had record Q2 results and is
expected to pay record bonuses for 2009.
And one has to ask does the
administration really want to trim the sails of Wall Street? What if
stocks were up only 25% from the March lows? What would NY, NJ and CT
finances look like if bankersâ€™ compensation were permanently reset sharply
lower? Where would the recovery be if higher asset prices did not lift
household and firm confidence? If the Democrats really wanted to shape a
new system (and a sustainable one) it would have led a broad effort to foment
system deleveraging. Instead we get cash for clunkers where consumers,
already steeped in debt, are encouraged to go out and buy a new car for $3500-4500
tax creditâ€¦letâ€™s just reduce that savings rate. Ironically the savings
rate may rise on this little gem in year one if one assumes the average
(financed) cost of a new car per month is $250 times 12 = $3000.
US crisis politics is all about do what is least painful and LCD, not what
should be done or even could be done, much less anything that requires a pound
of intelligence to explain and an ounce of intelligence to understand.
China has even fewer choices in its one party system â€“ keep the growth
machine running or risk regime change. By any means necessary is a
cornerstone of dictatorships and Chinaâ€™s is no different.
So we are condemned to
repeat the mistakes of the past with the most shortsighted approach to public
policy. Chinaâ€™s asset bubbles in real estate and equities have only gotten
bigger. Bubbles in equities, high yield, EM, commodities and credit
spreads are inevitableâ€¦the seeds are not just planted, but germinated, watered
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Forex News Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA co-founding Partner, Global-View.com
Max McKegg's Daily Forex Trading Forecasts
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.