“We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.

Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.

For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I’ll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.

So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.

The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it’s really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?”

The Big Fat Greek Bailout.

"BRUSSELS — European governments and the International Monetary Fund on Sunday committed to pull Greece back from the brink of default, agreeing on euro110 billion in emergency loans on the condition Athens make painful budget cuts and tax increases.

The rescue is aimed at keeping Greece from defaulting on its debts and preventing its financial crisis from infecting other indebted countries just as Europe is struggling out of recession.

After chiding Athens for years of mismanagement and cheating on their budget reporting, the IMF and Greece's 15 partners that share the euro currency rewarded Prime Minister George Papandreou for tough measures including cuts in civil servant's pay.

"I have done and will do everything so the country does not go bankrupt," Papandreou told a nation which now faces years of painful belt-tightening after years of overspending...."

Read more:

http://www.google.com/ho...enIusBgBvWj5WQD9FEU2K02

This Greece default fiasco has been the major inhibitor to the rise in world markets and market sentiments.... I'm glad they've sorted it out with Germany and the IMF both coming on board for the sake of the Euro...

Sukuk bonds a comin? wow this market is really becoming developed. What's the best bond to buy now...Maybe KEnGen if you can get it or 8 year IFRB. Interesting part of the BD article.

Underlying assets

A key problem was a collapse in value of underlying assets – primarily real estate investments – which back Sukuk issues.

Islamic bonds are structured as profit-sharing or rental agreements, and their returns are derived from underlying physical assets such as real estate or commodities.

Unlike conventional banking which has a vast array of investment options, Islamic banks are heavily concentrated in real estate placing them at high risk should property values fall as they did during the financial crisis.

Read more:

http://www.businessdaily.../-/rhnqbvz/-/index.html

@guru267. Well the world bank said that the NSE mirrors the Dow Jones and even JSE, so it's likely to reflect on our market. Maybe it's an issue of lag time, some estimate a 3 day lag time.

@guru267. wow, i didn't think u'd respond to movements in international markets so quickly. Is it wise to do that? Seems like way to many variables to factor in to a decision (not including the local factors).

@kk. Remember those US Bonds that CBK bought through the RAMP program, there maybe a good reason for that. Stumbled onto an interesting article about US treasury yields.

http://www.bespokeinvest...pposed-to-be-rising.html

Gold in recent times has risen on the back of the U.S. Dollar's fall and vice versa; picture a see-saw. The Debt Crisis emanating from Europe has flipped that correlation, gold is rising along with the Dollar. This was the case in the 1931 Currency Crisis when the Dollar was interchangeable to gold at $20.67.

Other assets to have appreciated during that tumultuous period were the U.S. stock markets as a port of safety from debt defaults in both Europe and South America.

"UGANDA on Tuesday opened its first gold refinery, hoping to tap into processing the precious metal from neighbouring producing countries.

The refinery, established by Russian-owned Victoria Gold Star Limited, has a capacity to process 1.2 tonnes of raw gold per month, the company's managing director told Reuters.

Yuri Bogoroditskiy said the company was attracted to Uganda because of its location and relative political stability.

"Uganda is at the centre of the producers of gold: eastern D R Congo, Tanzania, Rwanda and Kenya," Bogoroditskiy said....

Read more:

http://www.newvision.co.ug/D/10/10/718440

@scubidu i didnt say that i was liquidating all my investments but it would be very wise to reduce your exposure to risk at this stage especially since most of us have made some good money in the past year....

The risk of a sovreign debt crisis throughout Europe is extremely high and the problem here is that if any other one country needs to be bailed out we will have an economic crisis worse than the one 2008-2009... all European markets had another disastrous day yesterday with huge selling pressure....

Though some other analysts view this huge sell off as an over reaction since the nature of the Greek debt is very different from the nature of debt of the rest of Europe hence little chance of other countries defaulting...

The Effect on the NSE will not be terrible especially with companies that have limited or no overseas exposure..

Divest in Europe Now!

http://www.amazon.com/In...d=1273123996&sr=1-1

@KK very true Europe and all countries exposed to europe...

the NSE has had zero reaction and is still headed up but the JSE is not being spared and i find that very wierd