Japan, Britain and Switzerland All In Deep Trouble

[science_trader]

Quote from ByLoSellHi:

I didn't invest any money in Switzerland, Switzerland is not an emerging market, and again, why would I need to go to Switzerland to comment on the financial problems that it is suffering and that are being reported everywhere?

This is exactly what I said: come here (again).

As a trader you have to learn not to concentrate on the noise, but on the real edge.

 

[ByLoSellHi]

Quote from ASusilovic:

Wrong perception of Switzerland.

Ten Richest Countries (based on 2004 GNP per capita in US$)

1. Luxembourg ... $56,380
2. Norway ... $51,810
3. Switzerland ... $49,600
4. United States ... $41,440
5. Denmark ... $40,750
6. Iceland ... $37,920
7. Japan ... $37,050
8. Sweden ... $35,840
9. Ireland ... $34,310
10. United Kingdom ... $33,630

First of all, those are stats from 5 years ago.

Second, Switzerland is homogeneous and has a population of about 7 1/2 million versus 305 million in the U.S., so those stats are skewed to the extreme.

Finally, Madoff's carnage had not been yet released upon the Swiss finance industry until recently, and the U.S. Gov't wasn't challenging Swiss Banking Secrecy Laws until just recently, either.

 

[short&naked]

Quote from science_trader:

This is exactly what I said: come here (again).

As a trader you have to learn not to concentrate on the noise, but on the real edge.

Right now YOU are the noise and are making very little sense.

 

[Daal]

Swiss Banks are levered 30-1. They could easly start to go under and be nationalized. Going to switzerland and counting heads at malls is irrelevant

 

[mokwit]

Quote from science_trader:

That's exactly what I said: come here.

you are like these poor guys who invested in emerging markets without having stepped one foot in these countries.

Is Switzerland classed as an emerging market now?

I must say I am surprised, last time I was there the trains were clean and ran on time and the taxi drivers knew where your stated destination was and had change. It felt a bit like Germany except the people smiled even less.

 

[Debaser82]

Quote from Daal:

Swiss Banks are levered 30-1. They could easly start to go under and be nationalized. Going to switzerland and counting heads at malls is irrelevant

Fannie and Freddie were levered 160-1 and are nationalised.

Now who has the edge in such an equation?

 

[short&naked]

Quote from mokwit:

Is Switzerland classed as an emerging market now?

I must say I am surprised, last time I was there the trains were clean and ran on time and the taxi drivers knew where your stated destination was and had change. It felt a bit like Germany except the people smiled even less.

Even less? ugh.

 

[allaboutmoney]

Quote from ByLoSellHi:

We have the makings of a total collapse here - two major powers and a regional financial capital.

I think that Japan is beyond help. Unless there's a sharp upturn in the auto sector very quickly in the U.S., Japan is drifting away from the lifeboat. We're talking tens of thousands of suicides, homeless Japanese citizens, and exports and imports that are falling at a faster rate than any time since WWII (already, not predicted).

British citizens are the only ones in the world more indebted than Americans, but unfortunately for them, their government does not enjoy the luxury of having a major reserve currency, and their financial industry may just take a much more severe beating than New York's. Their too-big-to-fail banks are already nationalized, for the most part (Northern Rock, RBS, Lloyd's, etc).

Switzerland is in a world of hurt given the Madoff scandal and the UBS vs. U.S. Government spat that threatens Swiss Banking Secrecy....what the hell are they going to fall back on if things go south, as they appear to be headed? Chocolate?

I know you have been posting alot of doomsday posts on ET, I've read your posts but almost always ignored them as just fear mongering, but now I'm getting the sense that most of what you posted is probably true to a great point

I would like to know your opinion in regards to the question "will we see inflation, deflation or biflation for the next few years?"

I personally think we will not see deflation, but will see inflation, but not in everything, i think mainly in food prices, rents, etc

I think one of the problems that the world has is that jobs suitable for the 20th century have not been created, and also that there is a major misplacement in positions, for example someone who doesn't deserve to be a manager and doesn't know shit about anything is put to manage an organization or group. take for example our slow president

 

[wavel]

Quote from ByLoSellHi:

Why?

It's a lot less expensive to read about it. It's all over the news.

Switzerland deeply affected by fraud
http://www.opalesque.com/49040/Pictet_on_how_to_avoid_exposure.html

Do you believe everything that is reported all over the news ?

 

[Mercor]

All we Americans know all we need to know about the Swiss.

You guys wear shorts with suspenders ,eat cheese all day, make watches and yodel.

Don't tell us that we need to visit Switzerland to know what’s going on there.