Whats your net worth

Originally Posted by Unregistered

yes, they do. quantitative easing is the sophiscated term for money printing.

central banks have been doing these for a long time. that is why we have inflation.

go google this up.

He said and i quote "print paper money", quantitative easing is raising money supply by buying financial assets. Only the government can print money.

go google this up.

Central bank cannot and doesn't need print physical money (M0) to increase money supply. Buying assets effectively increase other forms of money supply electromagically.

for those who has not studied economics, do take note that central banks do print money via various means. go study economics if you have not.

US, Japan Now Global Allies in Money Printing

CNBC.com | Monday, 8 Apr 2013 | 2:45 PM ET

U.S. markets, particularly the riskiest areas of investment, are likely to benefit at least near term from the latest entrant to the central bank money-printing arena.

Following the lead of the Federal Reserve, the Bank of Japan last week announced an even more ambitious project to use created funds to buy assets in the hopes of boosting investment and inflation.

Considering the U.S. central bank already has pushed its balance sheet past $3 trillion, that's saying something.

Not to fear, though, that Japanese markets may begin to compete with the U.S. for investment money: Many experts figure that the BoJ's efforts will only complement, rather than divert from, the American central bank stimulus regime.

"Money will go to where it's best treated," said Quincy Krosby, chief market strategist for Prudential Annuities. "We're on a scavenger hunt for yield, we're on a scavenger hunt for return. Right now, it's the U.S. market and the Japanese market."

The areas most likely to benefit from the BofJ announcement are Japanese equities, which have been on a parabolic rise since the market started anticipating central bank stimulus, as well as U.S. stocks and Treasurys and some global markets that maybe have underperformed but are ready to rebound.

"Ultimately, the BoJ intends to over-crowd the domestic market with their asset purchases," Priya Misra, rates strategist at Bank of America Merrill Lynch, said in a note to clients. "This would effectively force spillover demand to equity, overseas and other risk assets. US Treasurys should also benefit near term due to some crossover buying."

With many investors anticipating a U.S. market pullback after its strong first-quarter rally, the BoJ announcement comes at an opportune time.

Earnings season, with its expectations of little corporate profit growth, is setting up as an ideal pause point for the market. A weak nonfarm payrolls report Friday has led to consecutive weak sessions, and the market has been on a two-week string of alternating positive and negative trading days.

Indeed, the BoJ announcement has introduced an interesting dynamic to the markets across the board.

While U.S. stock market strength has hinged on a weak dollar, the greenback is hovering around a four-year high against the yen. Yet the U.S. markets have held in, despite a weakening economy.

Some strategists are beginning to talk about taking some money off the table and putting it in global markets until the U.S. market dips and creates a better entry point.

"In the end, none of this is based on fundamentals," said Michael Yoshikami, CEO at Destination Wealth Management. "It's all based on currency so it's going to have to end at some point. But at least for the short term I see it as a net positive for everyone."

From a strategy standpoint, Yoshikami said DWM has taken some profits and is investing in dividend stocks such as Johnson and Johnson, as well as developing markets like the Phillipines and Singapore while lightening up in China and Brazil.

But he sees a rally ahead for the U.S. after a pullback.

"'Don't fight the Fed' and 'don't fight the central banks' are sayings for a reason," Yoshikami said. "The money we're spending right now for central banks is going to come out of the economy five and 10 years from now. It might be a sobering result that we get less growth then because we're spending it today."

There are additional risks, the most glaring being that a big round of quantitative easing in Japan may be no better at stoking growth and the good kind of inflation there than it has been in the U.S. Despite the Fed's all-out efforts, unemployment remains elevated and inflation subdued, though stocks have soared.

Investors, however, have shown little interest lately in pondering long-term ramifications when there's money to be made today.

"Monetary policy is being used as the policy tool to create demand. The question is, is this going to end in tears?" Prudential's Krosby said. "Is this going to end in worse calamity for the markets than what we had in 2008 and 2009? No one knows. But the point is, the market's enjoying it now."

-By CNBC.com's Senior Writer Jeff Cox.

Nov. 8 (Bloomberg) -- European Central Bank council member Jens Weidmann said the ECB cannot bail out governments by printing money.

“One of the severest forms of monetary policy being roped in for fiscal purposes is monetary financing, in colloquial terms also known as the financing of public debt via the money printing press,” Weidmann, who heads Germany’s Bundesbank, said in a speech in Berlin today. The prohibition of monetary financing in the euro area “is one of the most important achievements in central banking” and “specifically for Germany, it is also a key lesson from the experience of hyperinflation after World War I,” he said.

The ECB is under pressure to ramp up its bond purchases to cap soaring yields in Italy as governments fail to contain the two-year-old sovereign debt crisis. Weidmann also rejected proposals to use Bundesbank currency and gold reserves to help finance purchases by a special fund, saying this is another form of monetary financing.

Such a course “undermines the incentives for sound public finances, creates appetite for ever more of that sweet poison and harms the credibility of the central bank in its quest for price stability,” Weidmann said.

Bond Purchases

The ECB has so far bought 183 billion euros ($253 billion) worth of distressed nations’ assets which it neutralizes, or sterilizes, by draining the same amount of money from the banking system. As yields soar to euro-era highs in Italy, the region’s third-largest economy, some politicians and economists have called on the ECB to commit to buying as many bonds as it takes to calm markets.

Irish Finance Minister Michael Noonan said yesterday the ECB must stand ready to provide a “firewall” as the debt crisis escalates.

Weidmann welcomed the German government’s opposition to using the central bank’s gold and currency reserves to bolster Europe’s 440 billion euro rescue fund, the European Financial Stability Facility.

“I am glad that also the German government echoed our resistance to the use of German currency or gold reserves in funding financial assistance to other” euro-area members, he said. “Proposals to involve the Eurosystem in leveraging the EFSF -- be it through a refinancing of the EFSF by the central bank or most recently via the use of currency reserves as collateral for a special purpose vehicle buying government bonds -- would be a clear violation of this prohibition” on monetary financing.

--Editors: Matthew Brockett, Patrick Henry

everyone. get a job.

Originally Posted by Unregistered

everyone. get a job.

u work at sat?

Originally Posted by Unregistered

u work at sat?

yes i do. And i strongly urge everyone to work on saturdays and sundays.

I am a 41 year old tax driver. I lost my job due to office politics.

Now, I am happy because no more boss. My passengers are now my bosses, some are nice and a couple or so can be quite rude. Overall, ok, better than working for a lousy boss.

No more liabilities, living happily with family in a new, fully paid condo.

Family net worth, including condo is only about $3m. Worse than my contemporaries, but I am contented.

No need car as I am a taxi driver, saves a lot on transportation. My neighbours are my regular customers. I am their resident taxi uncle. I am not ashamed as they know my story, I was a successful executive but due to bad office politics, I had to go.

I am feeling very lucky. Even though I am a taxi driver, I can give many good business and life advice to my passengers.

Originally Posted by Unregistered

I am a 41 year old tax driver. I lost my job due to office politics.

Now, I am happy because no more boss. My passengers are now my bosses, some are nice and a couple or so can be quite rude. Overall, ok, better than working for a lousy boss.

No more liabilities, living happily with family in a new, fully paid condo.

Family net worth, including condo is only about $3m. Worse than my contemporaries, but I am contented.

No need car as I am a taxi driver, saves a lot on transportation. My neighbours are my regular customers. I am their resident taxi uncle. I am not ashamed as they know my story, I was a successful executive but due to bad office politics, I had to go.

I am feeling very lucky. Even though I am a taxi driver, I can give many good business and life advice to my passengers.

Hi you are such an inspiration and I am very interested. What is the progression like?