sharkman Posted January 19 Report Share Posted January 19 18 minutes ago, Moonbox said: The link you posted did, fool. Your above quote is nothing but you telling us things about Michael Burry - none of it is Michael Burry telling us what he's predicting. Show us what he says we're in store for, otherwise you're still just shouting MICHAEL BURRY MICHAEL BURRY MICHAEL BURRY MICHAEL BURRY Oh yeah, one more. Burry said Tesla stock was gonna take a dump. Then it did. Quote Link to comment Share on other sites More sharing options...
sharkman Posted January 31 Report Share Posted January 31 Here’s yet another warning of a serious recession, this time by Jeremy Grantham. Quote Link to comment Share on other sites More sharing options...
sharkman Posted February 5 Report Share Posted February 5 FedEx layoffs… https://www.freightwaves.com/news/fedex-to-cut-global-officer-director-workforce-by-at-least-10 “Wednesday’s announced cutbacks are part of a reduction of 12,000 jobs since the June 1 start of FedEx’s 2023 fiscal year, according to a company spokesperson. In September, FedEx reported subpar fiscal 2023 first-quarter earnings, which it blamed mostly on a sudden and dramatic drop-off in trans-Pacific volumes and an inability to cut costs fast enough at its FedEx Express air and international unit to align with the lower demand.” Quote Link to comment Share on other sites More sharing options...
sharkman Posted February 11 Report Share Posted February 11 The second largest bank in Switzerland posted their biggest annual loss since 2008. Their customers have been withdrawing their money out of that bank to the tune of 100 billion, in the last quarter alone. It isn’t pretty. “The company saw a 96% plunge in equity trading revenue and 84% drop in fixed income trading revenue. Wealth Management revenue down 17%. You get the idea. Things are tough over there at Credit Suisse, even as it prepares a spinoff of its CS First Boston unit and did a transaction to that effect today. So those shares are trading down sharply.” https://ca.finance.yahoo.com/video/credit-suisse-sees-96-plunge-160214195.html Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 2 Report Share Posted March 2 So I heard on the down low that India started selling off USD to support their currency. Apparently other countries might be also selling off USD, putting downward pressure on the yankee buck. We shall see what develops. Quote Link to comment Share on other sites More sharing options...
sharkman Posted March 12 Report Share Posted March 12 https://news.yahoo.com/svb-fallout-spreads-around-world-154331383.html “Fears of contagion have reached Canada, India and China. In the UK, SVB’s unit is set to be declared insolvent, has already ceased trading and is no longer taking new customers. On Saturday, the leaders of roughly 180 tech companies sent a letter calling on UK Chancellor Jeremy Hunt to intervene. “The loss of deposits has the potential to cripple the sector and set the ecosystem back 20 years,” they said in the letter seen by Bloomberg. “Many businesses will be sent into involuntary liquidation overnight.” The SVB failure has implications around the world it seems, which could make for an interesting Monday. And Yellen has apparently said no bailout is coming. Quote Link to comment Share on other sites More sharing options...
SpankyMcFarland Posted April 7 Report Share Posted April 7 Hard to know what to make of this story about TD: One negative take: https://financialpost.com/fp-finance/banking/toronto-dominion-bank-biggest-short And a nothing to see here view: https://www.theglobeandmail.com/investing/markets/inside-the-market/article-should-we-worry-about-the-canadian-banks-when-it-comes-to-short/ I find reassuring stories about banks anything but. There were similarly bullish yarns about Irish banks in 2008 just before they collapsed. We’ve a strong sector here but I would prefer that our banks operated only in Canada. If one of them ever goes bust they’ll come straight to us for a bailout. Quote Link to comment Share on other sites More sharing options...
sharkman Posted April 9 Report Share Posted April 9 Yes they will, in a new legal manner called a “ bail in”. They will be allowed to seize what’s in our bank accounts to pay off their losses. Quote Link to comment Share on other sites More sharing options...
bcsapper Posted April 9 Report Share Posted April 9 8 minutes ago, sharkman said: Yes they will, in a new legal manner called a “ bail in”. They will be allowed to seize what’s in our bank accounts to pay off their losses. I have zero knowledge on this issue, but your post concerned me enough to look it up. The CDIC says: The following are not eligible for a bail-in conversion: Deposits (including chequing accounts, savings accounts and term deposits such as GICs); Secured liabilities (e.g., covered bonds); Eligible financial contracts (e.g., derivatives); and Most structured notes. https://www.cdic.ca/what-happens-in-a-failure/resolution-of-large-banks/resolution-tools-for-d-sibs/bail-in/bail-in-backgrounder/how-bail-in-works/ 1 Quote Link to comment Share on other sites More sharing options...
sharkman Posted April 9 Report Share Posted April 9 And which banks accounts CAN they seize? You forgot to mention that. Why would you post on this and edit that tidbit of info out? Why is that not important to you? And what does the CDIC say about CBDC? What do they say about our government freezing bank accounts of people that are allegedly breaking the law? We never had to talk about ANY of this in the 90s. In the 2000s. in the 2010's. Times are changing fast, and most have no idea what a CBDC is. Or what's dangerous about a government freezing bank accounts without due process. That means, a judge and a court deciding on the issue instead of it being led by a government bureaucrat. Quote Link to comment Share on other sites More sharing options...
bcsapper Posted April 9 Report Share Posted April 9 8 hours ago, sharkman said: And which banks accounts CAN they seize? You forgot to mention that. Why would you post on this and edit that tidbit of info out? Why is that not important to you? And what does the CDIC say about CBDC? What do they say about our government freezing bank accounts of people that are allegedly breaking the law? We never had to talk about ANY of this in the 90s. In the 2000s. in the 2010's. Times are changing fast, and most have no idea what a CBDC is. Or what's dangerous about a government freezing bank accounts without due process. That means, a judge and a court deciding on the issue instead of it being led by a government bureaucrat. Who, me? Forgot what? Edit what? As I said there, I have zero knowledge on the issue. I was asking you what you thought of that article. I'm not arguing with you. I just think that if someone's coming for my savings, I should know about it. It appears they might not be after all. Quote Link to comment Share on other sites More sharing options...
eyeball Posted April 10 Report Share Posted April 10 On 12/28/2022 at 12:07 PM, sharkman said: Like I said, the weak nations are starting to go into default. It's about time. The sooner they all do the sooner they'll all realize different rules apply to the 'strong' nations. Quote Link to comment Share on other sites More sharing options...
sharkman Posted April 11 Report Share Posted April 11 2 hours ago, eyeball said: It's about time. The sooner they all do the sooner they'll all realize different rules apply to the 'strong' nations. Well it’s hard to say. I’m sure you have heard of BRICS, the China Russia alliance wanting to compete with the G7 and start their own gold backed currency? Well, they are taking applications to join their alliance, and here’s a partial list of applicants: Algeria Nicaragua Argentina UAE Turkey Iran Indonesia Senegal Nigeria Afghanistan Epypt Saudi Arabia Notice in that number is a lot of poor countries looking for help. They may get converted to the dark side, so to speak, and I have no idea how that will turn out. Quote Link to comment Share on other sites More sharing options...
bcsapper Posted April 11 Report Share Posted April 11 4 minutes ago, sharkman said: Well it’s hard to say. I’m sure you have heard of BRICS, the China Russia alliance wanting to compete with the G7 and start their own gold backed currency? Well, they are taking applications to join their alliance, and here’s a partial list of applicants: Algeria Nicaragua Argentina UAE Turkey Iran Indonesia Senegal Nigeria Afghanistan Epypt Saudi Arabia Notice in that number is a lot of poor countries looking for help. They may get converted to the dark side, so to speak, and I have no idea how that will turn out. Looks like the next United Nations Human Rights Council to me... 1 Quote Link to comment Share on other sites More sharing options...
eyeball Posted April 11 Report Share Posted April 11 24 minutes ago, sharkman said: They may get converted to the dark side, so to speak, and I have no idea how that will turn out. I do - not good. 1 Quote Link to comment Share on other sites More sharing options...
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