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Luis Palau
The SuperModel Barometer
Lets just call this the SuperModel barometer. Actually it is sort of a contrarian thing. But here is how it goes. Due to the fact that the media and its’ compadres have berated America throughout the world, even SuperModel’s are flexing their economic muscle and requiring payment in foreign currency not US currency as previously had been the form of currency within the SuperModel industry.
Point in question is Gisele Bundchen, a Brazilian Citizen, who is considered to be the world’s riches SuperModel (I don’t know if that would include the proceeds from Christy Brinkley’s divorce or not) is now demanding to be paid in almost any currency besides the U.S. Dollar. I love it when people decide to make the switch on commodities “after” the revaluation has basically already occurred. The actual really smart people (i.e. savvy Europeans) are flocking to the U.S. right now (even as we talk) and looking to buy some really depressed U.S. Real Estate with some really cheap U.S. Dollars (that they can purchase at an impressive discount) thus giving them a strong potential for maybe an historically attractive “double play” in U.S. investments.
This is a more learned and quite a diametrically opposite view than that of Gisele’s, though maybe not as politically correct. And……..all of this because she and other celebrities have concluded that America, under George Bush (don’t you just love this predicate) is living beyond its means. And just think, this criticism comes from someone that has gotten rich promoting among other things “flip-flops” at $250 per pair. I guess this came to light last week at a time when the U.S. Dollar reached $1.4528 per Eurodollar, a record low.
So this may indeed signal market exhaustion (to coin some previous market terminology of my prior days) and could well signal the low or near low of the dollar. So I wouldn’t bet my last nickel that Gisele and some of the other “forward” looking celebrities are getting on the right horse at the right time. Time will only tell if she is a genius or an idiot. You know where my money is. FOOTNOTE: I wonder if in the fullness of time it is possible that we will learn that George Soros (that world renown currency speculator) is more behind the collapse of the US dollar than George Bush. MORE
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15 Responses to “The SuperModel Barometer”
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Models do tend to go the pc, fashoinable route. It is part of their nature.
As far as framing it as Bush or Soros, sorry that is cop out. Sorors a usual punching bag for the right, sometimes for good reason, other times not. Stop looking for demons, Bush is outspending Clinton. And if you want to get Iran it will only get worse.
Hi Patrick………….Not coping out, it is a poser. “Sometimes for good reasons” maybe one of those times, but time will tell, not my comments here nor yours. Hate Bush’s spending (I assume you mean non-defense discretional spending). If he ran again I wouldn’t vote for him because of that and the border. Of course I accept you view about Iran, but you understand I suppose that it could also get worse, much worse if we don’t get Iran. I do understand your position expressed from another post of mine that it is a risk you are willing to take. I am not at this point persuaded that it is a risk we can afford to take…….steve
We can’t “afford” to do anything!
& RE: The actual really smart people (i.e. savvy Europeans) are flocking to the U.S. right now (even as we talk) and looking to buy some really depressed U.S. Real Estate with some really cheap U.S. Dollars (that they can purchase at an impressive discount) thus giving them a strong potential for maybe an historically attractive “double play” in U.S. investments.
Who’s to say that’s not what she’s doing?
In any event, We’re in maybe our worst housing recession of all time…
Our financial system continues to hit the lending brakes hard…
In the next year or so the Fed probably cut to 2.5 or 3% after the dollar falls another 10%… (It’s so one sided right now & most likely will continue) I mean, record lows against the euro? Geez…
Oh & we just hit another all time high (now up to $97) in crude oil if anyone’s interested…
Freakin’ Bill Clinton left such a mess… & Obama with his missing lapel pin (arghhh)!
M2……..“Who’s to say that’s not what she’s doing?”
Me for one……….if she was trying to amass US Real Estate she would be taking her money in U.S. Dollars, the currency she would need to close on the transactions and avoid further currency conversion fees.
Sorry about that Worst Housing Recession of ALL TIME……..I don’t think so and I really don’t believe you think so.
…..and since you are still so enamoured with the Clintonomics I’ll send you back to read my colloquy (at least on one side) with Frank Cerabino HERE. Double check that graph and you’ll see that the economy peaked out a year before Bush and was in a freefall until March of 2001 (two months after Bush took office). I know it continues to feel good to blame Bush for everything (including the Tsunami) but once in a while we have to read the facts. …..and of course it was Bush that was making all those housing loans wasn’t he?………..I think we really need to drop back to a centrally planned economy, you know the type that caused Russia to collapse economically altogether.
…..and about that lapel pin, your boy obama is the one that initiated that issue and made a campaign strategy out of it trying to woo the Move On crowd away from HRc. He asked his patriotism be judged by his subsequent actions, not me. Even not gesturing with hand over heart would not have been so significant without his challenge to the electorate to judge him by his actions, not his lapel pin. This became a “read my lips” moment because “he” made it such, not the “neo-cons.” ……steve
Oh man I’m in a hurry but I will def jump back in tomorrow (or shoot you an email
)…
But yeah, BushCo has been great…
& “Read My Lips Moment” will catch on with the mainstream soon, rest assured!
I think the whole thing is bigger than just some celeb thing. It’s called people in the know are getting off the financial Titanic called the US dollar. The elites and wealthy or anyone paying attention is getting in the life raft Euro while most are trapped in the basement of ignorance.
Beggars can be choosers and Israel proves it. They are dependant enough to take aid from the US and powerful enough to dictate how they want it.
I think Gisele just has good financial advisers.
http://www.opednews.com/articles/opedne_mary_mac_070924_note_to_condoleezza_.htm
Patrick………..Well your money is down so is mine and we’ll hold eachother to it….Time will tell, ok? Anyway, all bets are off if HRc or Obama are elected, because we already know they know how to fix it, they told us so. ………steve
one explanation to the economics of the dollar that does not get pushed around is our current expansion. the rally that the bush tax cuts started is qutie long in the tooth. (march 17 2003 until now). we have nary a 10% correction. could it be that the bull run from the initial cuts and liquidity push be over? no doubts that this trader is on the sidelines waiting for the big guys to sort it out. way too volitale for me.
Matt……..
no doubts that this trader is on the sidelines waiting for the big guys to sort it out. way too volitale for me.
Looks like you are on top of the soundest approach to risk management in your situation…….steve
Putting aside the economic implications of Gisele Bundchen’s actions for the moment, I’m always slightly amused (ok - one of those “so what?” things, but humor me, ‘k?) with South Americans with…Northern European names. You know, the guy from Argentina named Heinrich Klems or Carlos von Krittendorfer. Golly, it’s almost like you can guess part of thier family history. Alright, I’m done stating the obvious
.
Hi Plodon…..in this case Both of her parents are of German descent with her great-great-grandparents having emigrated to Brazil in the late 19th century; however even though her parents are fluent in German, she speaks the native language of Brazil (Portuguese) only…….steve
“White man came take everything” - Midnight Oil
Colonization is a b%tch huh…
M2…….love Bull Roarer and Forgotten Years, own it (paid for it) and others……..steve
question, but not unrelated to hot supermodels venturing out of their profession into econ/politics…
would you be more worried of the dollars prospects if countries decide to not purchase their oil with us dollars and go to euros? i was told that if this happens, then the us dollar is busted. since everyone needs oil, therefor, everone has dollars. if this changes, then there is no need for the greenback that is backing oil?
true or just specualtion from the non-hot supermodel crowds on bloomberg?
Matt……truth is, I don’t know. But what I do know is that the world holds a lot of dollars. If all of a sudden they were told by the OPEC that the only currency they would accept would be Euros that it would leave the dollar holders in a fix meaning the only way they could recover value for them would be through Real Estate purchase in the US or US Exports or Financial Investments (which themselves would ultimately need repatriation). Given this, I kind of think the oil consumers outside of the US wouldn’t permit it. Also due to the relative value of the Euro vs. the Dollar, this would represent a significant increase in the cost of oil to these countries, unless the pegged at the conversion rate at the time of the change and if so it would mean that any subsequent re-evaluation of the dollar vs. the euro, yen, etc. would possibly be a value coup for Americans if the dollar settled back to more normal exchange values (you know, after Barack or Hillary are elected). Keep in mind that the Economy of the US is still over 5 maybe 6 times greater than even China. Nobody wants to mess with that, and not due to the kindness of their hearts, but their dependency on the U.S consumer (even OPEC, that is why they are concerned about the high “market price” of oil themselves allready)……steve
P.S. Matt I re-read your question and I need to state that it is not the “world” that would suddenly change their form of payment to the Euro for oil, it would be the producers that would require that form of settlement.
appreciate the add-on to the original comment post. that being said, i think you have conceded a victory to the left way too early. politicos on the left are conceding rudy out of fear and conspiracies of ballot stuffing a-la 2000 bush vs. gore.
alot of political nonsense on both sides will be played. according to mommyzabs, it looks as if pat robertson just jumped into the fray with endorsing rudy. i dont look to pat or rudy for support, but i do appreciate the dialog that happens here to help hammer out what it is i believe and what others can help me see that i dont naturally
Matt……..my concession to Barack or Hillary was more of a tongue and cheek thing poking at the left’s viewpoint that all these problems (including the dollar vs. euro) are the result of Bush Foreign Policy and Tax policy (I truly doubt the dislike his spending policy, except that on the military)……steve
from your post, do you think the next gop nmoinee will accept “campaigning ” from bush in the non-financial areans? not to be rude or anything, but has there ever been an outgoing president who was not asked for the direct support of the party’s new nominee?
i have a hard time counting the clinton gore fiasco because of the impreachment stuff. also, i think gore used the clintonian network in public forums because of the international diplomatic connections as well as the hollywood factor in promoting the beginnings of global warming, internet connections and like minded gen-xers and younger baby boomers.
Matt……….I doubt a sitting (especially wartime) President will have much time for active “campaigning” for any of the candidates, but I don’t think any of the candidates (except maybe Paul) would snub his endorsement (unlike Clinton/Gore), just take Rudy, he didn’t snub Robertsons endorsement…….steve
off topic but thoughts on this:
http://cdn.overstock.com/images/products/L10789890.jpg
It can be taken different ways, but I still think it is funny.
Patrick…….well she sure has her experince with busting Bill’s………steve
Amazing then how this “wartime president” has found the time to take a record number of vacation days…
You like numbers don’t you Steve?
Oh wait, they’re probably considered “working vacation” days?
Well, he can do that from the campaign trail, so get out there & help your fellow republicans Mr. President!
M2…….well you can bet on this, he hasn’t had as many vacation days this year as me and I don’t have much time for fundraising………
steve
What you’ve done with Gayles estate alone & the time consumed doing it just might supersede Dubyas activity in the past year…
Matter of fact, I’ll bet on it!
Bushie gets his hour in the gym, does 6 hours of pseudo damage controll (basically being brought up to speed by his team… & wife) & then some light lifting in a few other areas, then gets to bed in time to watch “Dancing With The Stars”. It’s pretty well documented…
He’s not bangin’ away on the phones regarding policy like ANY of his predecessors.
Now I know that’s not what the history books are gonna tell us but brush up on “Lies My Teacher Told Me” if you need any sort of perspective at all in that area.
M2…….That’ll take care of that……steve
Superceed? (can’t be right)
Haha, supercede? supersede?… you need a spell-check option…
M2……..Supersede…………I’ll fix it……..You’ll have to take that up with Wordpress………..steve
Models aren’t the only ones:
7 Countries Considering Abandoning the US Dollar (and what it means)
http://www.currencytrading.net/2007/7-countries-considering-abandoning-the-us-dollar-and-what-it-means/
Plus hip-hop artist Jay-Z has a video where he flashes a wad of Euro’s to show how rich he is.
It is scary when it is both fiscally prudent to jump off the dollar and it’s becoming fashionable.