This infographic was prepared by Oanda. I thought it is very clear and easy to understand.
Greece's Economic Crisis

Created by OANDA

The Greek Tragedy: Greece’s Economic Crisis, used with permission of OANDA

https://www.tradergav.com/a-look-at-greeces-economic-crisis/

CNBC Gives Financial Advice

I might be slow on posting this. But I just wanna keep a back up of this hilarious video. It reminded me John McCain/Letterman lessson 🙂  And it shows you how wrong the media can be when it comes to trading/investment.  So, do you still looking for ‘Advice’  from the ‘experts’ ?

CME to launch Forex E-micro Futures…bucket shops slaughter?

fx-211bannerCME announced the launching of Forex E-micro Futures before the end of Q1 2009.  What’s the catch of this?  Well, the basic message for retail traders is : Trading your mini lot on regulated futures market, e.g trading Euro futures with $1.25 per tick.

Six Currency Pairs. Quoted in Interbank Terms. The Largest Regulated Forex Market.
If you would like to trade in a regulated, secure Forex market, get to know our new Forex E-micro futures, traded at CME. One-tenth the size of our standard Forex futures. One-tenth the risk exposure. All of the access to our highly liquid markets.

CME will be launching Forex E-micro futures before the end of Q1 2009 on the following currency pairs:
EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, USD/CHF

Full details here

Instead of fighting with the retail forex brokers, known bucket shops, maybe trading the regulated futures market is a better choice. Your choice. I guess this is a good move to make retail currencies trading environment a little better.

Many Australian cruising through the crisis….REALLY?….

“For Gen-Y type staff, they are just scratching their heads to work out how the global financial crisis is really impacting them,” he says.

“If they’re not paying off a home loan, if they haven’t got substantial share market investments but they’re in secure employment, then they’re probably not seeing a great impact.

“If anything it’s a positive.”

Full article here

The biggest assumption here is “..but they’re in secure employment”.  SECURE?  These group of people are just not the first ones being affected. What is a “secure employment” anyway?

Posts worth reading

I haven’t been posting links for long. I was just too lazy, as always 🙂

Anyway,  here are some writings in which I think it is worth reading.

That’s it!  Have a good weekend!

Christmas..uhm..it’s christmas , not credit’mas

AROUND one in five Australians plans to put their entire festive season costs on credit, a new survey has revealed.

The MasterCard Worldwide Australian Christmas Spending Survey found 60 per cent of Australians planned to use a credit card for Christmas spending, and 22 per cent expected to put all their costs on their cards.

Around 84 per cent said they would pay off the debt within three months, but Consumer Action Law Centre CEO Carolyn Bond said many with outstanding debt would struggle to pay off purchases before being charged interest.

She said Christmas was a challenging time.

– 68 per cent of women will shop online for Christmas gifts
– 63 per cent of men will shop online for Christmas gifts
– 60 per cent will use their credit card on Christmas spending
– 49 per cent will cut back on entertainment costs
– 45 per cent will spend less on holidays and travel
– 44 per cent will cut back on gifts for extended family
– 41 per cent will cut back on gifts for friends
– 27 per cent started shopping three months before Christmas
– 22 per cent will put all their Christmas spending on credit cards

Full report here

Being a stingy asian, I smell blood when reading this type of report. There’s absolutely nothing wrong about using credit card. I do so. For convenience, for the sake of earning the little 55 days interests from my savings account. But… “84 per cent said they would pay off the debt within three months”..sounds good huh? That’s scary, so majority of them are not prepared, or even able to clear credit card debt immediately when the first credit card bill arrives. What’s going on here?

Christmas is the season of giving. Why don’t you give yourself a break? A break from the credit card debt.