Phase 1 was the eurozone periphery and phase 2 is the eurozone core. It is now possible that more eurozone nations will need bailouts and Europe will fall into a Lehman-sized recession.
This changes everything. Eurozone leaders must wake up and get a grip on the situation before it tumbles out of control. They’ve been sleepwalking since May 2010, so it may take a stock market crash to stir them to action – and the stock-market alarm clock looks set to go off soon.
Strange Random Stock Market Quote:
- Save the Euro, for God’s sake! (olafstorbeck.com)
- European economists implore EU leaders to act on eurozone crisis – letter in full (telegraph.co.uk)
- Eurozone focus video: Powerful Eurozone cocktail ahead of EU summit (tradingfloor.com)
- (ADIEU) Market turmoil resumes on the back of eurozone uncertainty! #no2eu (dreadnoughtuk.wordpress.com)
- Deutsche Bank CEO Just Gave A Terrifying Speech In Frankfurt (lonerangersilver.wordpress.com)
- Lord Lawson: Tear up EU treaty (bbc.co.uk)
- Angela Merkel Warns Of Domino Effect If Greece Leaves The Eurozone (businessinsider.com)
Necessity is the mother of invention, as they say. In these rather bizarre times, it is now possible to get gold from a vending machine or if you’re feeling a bit more reckless, you could always try one of these strategies, such as renting a cow, selling options on your life insurance or just good old-fashioned star-gazing!
Some people are worth a lot on paper; others quite literally have the bulk of their assets in paper. Kelly Reid is one of the latter—he’s founder and editor-in-chief of Quiet Speculation, a daily publication focused on investment strategies within the Magic: The Gathering trading card game—and estimates that more than half of his personal wealth is tied up in cards he owns. Magic cards fluctuate in value based on their use in tournaments played around the world. The game, created by mathematics professor Richard Garfield and launched in 1993, now boasts 6 million players worldwide according to Wizards of the Coast, Magic’s Hasbro-backed publisher. The most valuable card, Black Lotus, is currently worth $840, up 16% since the start of 2010. The S&P 500, by contrast, is up 12% over the same time period.“As both a collectible and competitive game, Magic: The Gathering has evolved its own primitive stock market,” says Reid. “Individual card prices rise and fall based on competitive play, and online resellers set bid/ask spreads, providing liquidity for traders.”
Strange Random Investment Quote:
You had a lot of novice investors who got into the market looking for easy money, without any regard to the fundamentals. These stocks were running on fumes. (Madoff talking about the Internet bubble) – Bernard Madoff
- New Magic: The Gathering Hits the Xbox (appscout.com)
- Duels of the Planeswalkers 2012 review: All decked out (joystiq.com)
- William Baldwin to step down as Forbes editor (newstatesman.com)
- Really? More bad news from nation’s builders (lansner.ocregister.com)
- Madoff surprised judge didn’t call for stoning (cbc.ca)
- Bernie Madoff complains about judge’s harshness (cbsnews.com)
Here’s your more-more-more Monday roundup of consumer news from around the Web:– Fly the friendly iPad? British Airways is experimenting with handing out iPads for in-flight entertainment. The carrier has already begun trials of the iPad on selected Boeing 777 services as an alternative to the portable DVD players currently issued to first-class passengers.
Strange Random Airline Quote:
This is a nasty, rotten business — Robert L. Crandall, CEO & President of American Airlines.
- 44% of people plan to never invest again (businessinsider.com)
- Mint Q&A: A Random Walk Talk with Burton Malkiel (mint.com)
- Is It Better To Have a 401k or IRA For Trading Stocks? (brighthub.com)
- Investments for a Slowing Economy (fool.com)
- 5 Ways to Start Investing with $1,000 or Less (mint.com)
Utah has gone for gold — quite literally.Last week the state became the first to pass legislation legalizing gold and silver as forms of currency. The law also exempts the coins — which are typically considered an investment — from capital gains taxes. This may come as welcomed news for gold bugs: gold has been on a tear for decades — currently hovering above $1500 an ounce — and has held up in the midst of tumbling silver, oil, and now the equity market.
Vodpod videos no longer available.
- Gold & Silver Money in Utah ??? (2012patriot.wordpress.com)
- Gold, Silver to be Legal Currency in Utah (businessinsider.com)
- Utah banks on gold, silver as legal currency (rt.com)
- “Gold Rush: Utah GOP Makes Gold And Silver Coins Legal Currency” and related posts (thehollywoodliberal.com)
- State Legalizes Gold, Silver Coins As Currency (huffingtonpost.com)