I can haz deflationary depression? Time to clean the pool and do some exercise. BBIAB.

Real Estate Prices Are Going Back Up - Bloomberg

flation =

You'd think after years of helping the banks not going through to the economy they'd try Plan B.

From the post:

"I expect that the unemployment rate will remain at or above 8 percent until the second half of 2013."

and 2014, 2015, 2016 etc...

right. they take both sides of the mandate seriously, but they take the inflation mandate more seriously than the unemployment side.

the housing recovery has happened without the aid of the Fed (most are locked out of refis due to credit or neg equity) and despite fiscal policy. So the housing recovery in my mind is extremely durable, like a weed that survived a nuclear winter. It's unlikely to be knocked off by Eurogeddon.

Here's to more QE, because it might just be the push the economy needs to put us back to pre-2006 trend.

And if we got a nominal income target that would be a big fat bonus as well.

Rob Dawg wrote:

years of helping the banks not going through to the economy

Bastards...

Israeli company grows medical marijuana which doesn't get you high

obama is talking -

Look, reading this old boy, he states he is unsure of everything..

..And let me make myself a little clearer...I am not against Keynes per se...It is probably a good idea for governments to spend in bad times and make it up in good times..My problem is that governments don't make it up in good times with payback of the overspending in bad times. If they did I would be pro-Keynes too...and people with doctorates tend to think that others with think and behave as they do (I know this firsthand)...but they don't...

I think ZIRP may have started out as an employment tool, but it has morphed into a result of too much debt that must now be serviced only by very low rates...the primary result of ZIRP is to allow servicing of massive government debt for a little longer and the secondary reason may be economic stimulus...of course this ends badly...

Mhm, it would be awful if some sick person actually got any enjoyment from their treatment. Suffering is good.

Plan B consists of more austerity for the little people

GO TEAM!!!!!!!!!!

Bruce in Tennessee wrote:

the primary result of ZIRP is to allow servicing of massive government debt for a little longer

massive government debt largely generated by the failures of private capitalism. the parasites of corporate america want you to blame government instead of the huge output gap caused by the collapse of serial bubbles blown by their avarice and sociopathy.

The audience need to be more 'accommodative' with their clapping.

The audience need to be more 'accommodative' with their clapping.

YouTube - Randy Watson

Japan Machinery Orders, Current Account Surplus Slide - Asia Business News - CNBC

Japan announced that May machinery orders dropped 14.8%.

I am awaiting the crap that comes out of the EU today.

These people believe asset/securities prices are a surrogate for the economy. From that perspective QE has been a huge success.

May make the oldsters more likely to exit the work force - indirectly helping younger people in the work force.
Just need the hiring part - seeing attrition instead.

BTW Haralambos-

Merekel says she'll give you 500 Euros for that Delphi place...

Eric wrote:

Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm
Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm
Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm
Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm
Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm
Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm Facepalm

I'm not sure that 60 is quite enough....

Oman wrote:

May make the oldsters more likely to exit the work force - indirectly helping younger people in the work force.
Just need the hiring part - seeing attrition instead.

But the oldsters need to hide in cash, which no longer keeps up with inflation, let alone generate returns. You need those oldsters to spend some money, and drowning them in ZIRP is not going to work.

It would be interesting to see how much the composition of 401Ks for older people has changed lately.

Rob Dawg wrote:

You'd think after years of helping the banks not going through to the economy they'd try Plan B.

Plan B? Banksters get "prima nocta" with newlywed brides?

Mark Gongloff: The One Possible Bank Defense In The Libor Scandal, And Why It's Bogus

07/09/2012

"Here's a free PR campaign idea for the banking sector: Big banks helped the economy, maybe saved your job, with some of their blatant Libor-market cheating. But like most bank PR campaigns, it's not even a decent half-truth: The full truth is, we risk ever-bigger economic blowups in the future, and utterly wrecking our trust in financial markets, if we let this sort of behavior continue.

In the days since the Libor scandal broke big, one question keeps getting asked: Why aren't people more outraged? As Matt Taibbi put it, why aren't people freaking out about the fact that Libor, an interest rate that affects borrowing costs for homeowners and businesses the world over, was as fake as Bruce Jenner's face?

One obvious answer to that question is that it involves math, and math is hard for us!

After all, the Federal Reserve, Bank of England and other central banks around the world are also manipulating interest rates. All the time. Except when they do it, it's called "monetary policy." When Barclays does it, it's cheating.

If they wanted to fight back, the banks could very well react to this scandal like Jack Nicholson's Colonel Jessup in "A Few Good Men." To paraphrase Aaron Sorkin:

"You want the truth about Libor? You can't handle the truth. We live in a world economy that has walls, and those walls have to be guarded by banks with interest rates. You weep for Libor, and you curse the banks. You have that luxury. You have the luxury of not knowing what the banks know. That Libor manipulation, while tragic, probably saved jobs. And the banks' existence, while grotesque and incomprehensible to you, saves jobs.

That could be the banks' defense -- except it would be full of crap.

And banks will always have an incentive to cheat Libor higher or lower, depending on their position in derivatives markets. Libor affects some $350 trillion in notional credit derivatives. That's $350 trillion reasons to cheat."

Google Image Result for http://images.zap2it.com/images/celeb-159249/bruce-jenner-0.jpg

Let's take a ton of money from main street and give it to Wall Street.

That will fix things.

ac wrote:

Let's take a ton of money from main street and give it to Wall Street.

That will fix things.

and Wall Street will give some of it to Mittens ?

Don't blame Europe - MarketWatch

So what, Blame Canada?

FTA:

During July and August, Europe goes on vacation, and last year the old adage played out. “When the cat's away, the mice will play” brought the hammer down on European banks to the extent that the governments had to ban short-selling on financial institutions in Europe, so then the mice turned to sovereign nations. One after the other, weakness resounded in Europe during these vacation months last year, and that weakness has since been felt worldwide. The question is will this repeat itself again in 2012.

A surprising and welcome resolution came from the recent EU summit, something we all seemed to appreciate, but a decision that could have been induced by last summer's events, too. Last year we could feel the offensive response to the disrupted vacations of European leaders. Those leaders, their families and the world remember that they were forced to return from their holidays and face the troubles in the real world. Pulling them off the beach was worse than having teeth pulled, so it seemed.

But the oldsters need to hide in cash, which no longer keeps up with inflation,

Not sure, most of them I know don't beleive the market will end up like Japans has.
They just want to get someone to overpay for their house here; so, they can go buy cheap somewhere else.
I will guarentee they are more likely to retire with these classes elevated.
Agree?

In our hunt to buy a house i've noticed a new trend - After school care at the YMCA from 3:30 to 6PM.

Cost $500+ per week.

Did nova die?

Yes, he is prolly in heaven

"ac wrote:
Let's take a ton of money from main street and give it to Wall Street.
That will fix things."
and Wall Street will give some of it to Mittens ?

They will pay off whoever is most likely to win.

That's how the scam works:

Finance the presidential campaign and get guaranteed carry trade returns from quantitative easing.

It's the ultimate financial con disguised as an "economic fix".

You have to admit these guys are geniuses.

American Freefall » Counterpunch: Tells the Facts, Names the Names

In June the Federal Reserve announced that it was going to continue its policy of driving nominal interest rates even lower, this time focusing on long-term Treasury bonds. The Fed said it would be purchasing $400 billion of the Treasury’s 30-year bonds. Driving interest rates down means driving bond prices up. With 5-year Treasury bonds paying only seven-tenths of one percent and 10-year Treasuries paying only 1.6%, below even the official rate of inflation, Americans desperate for yield move into 30-year bonds currently paying 2.7%. However, the the high bond prices mean that the risk of capital loss is very high.

The Fed’s debt monetization, or a drop in the exchange value of the dollar as other countries move away from its use to settle their balance of payments, could set off inflation that would take interest rates out of the Fed’s control. As interest rates rise, bond prices fall.
In other words, bonds are now the bubble that real estate, stocks, and derivatives were. When this bubble pops, Americans will take another big hit to their remaining wealth.

It makes no sense to invest in long-term bonds at negative interest rates when the federal government is piling up debt that the Federal Reserve is monetizing and when other countries are moving away from the flood of dollars. The potential for a rising rate of inflation is high from debt monetization and from a drop in the dollar’s exchange value. Yet, bond fund portfolio managers have to follow the herd into longer term maturities or see their performance relative to their peers drop to the bottom of the rankings.

Dawg gonna be all over these? Guess he's tickled-pink....

The bill authorizes the state to begin selling $4.5 billion in voter-approved bonds that includes $2.6 billion to build an initial 130-mile stretch of the high-speed rail line in the Central Valley.

Read more: California approves funding for high-speed rail line | Fox News

ac wrote:

It will continue

Who is a free agent now?

aleister perdurabo wrote:

American Freefall » Counterpunch: Tells the Facts, Names the Names

Another quote from that link:

Currently, the substitution-based rate of inflation is about 2%. However, when inflation is measured as the actual cost of living, the rate of inflation is 5%.

The Misery Index is the sum of the inflation and unemployment rates. The level of the current Misery Index depends on whether the new rigged measures are used, which understate the misery, or the former methodology that accurately measures it. Prior to the November 1980 election, the Misery Index hit 22%, which was one reason for Reagan’s victory over President Carter. Today if we use previous methodology, the Misery Index stands at 27%. But if we use the new rigged methodology, the Misery Index is 10%.

Got Misery?

i've linked this williams speech from may 2011 before ... never heard of buy the rumor sell the news, obviously ....

That brings us back to the question of why commodity prices have risen so much. Some commentators have suggested that the Fed itself has contributed to the run-up by keeping in place excessive monetary stimulus. According to this argument, the Fed’s policy of very low interest rates and sizable securities holdings are fueling speculation in commodities. Economic theory teaches us that lower interest rates will boost asset prices, including commodity prices, all else equal. But it is unlikely that this effect can explain more than a very small portion of the huge increase in commodity prices that we have witnessed.6 Economists at the San Francisco Fed recently looked at how commodity prices reacted when the Fed announced new policy actions to stimulate the economy. If Fed policies were responsible for the commodity price boom, then we should have seen those prices jump when the Fed announced more monetary stimulus. In fact, the researchers found that, if anything, commodity prices fell after new policy announcements and were not pushed higher by news about Fed policy.7 So, I don’t see any convincing evidence that monetary policy has played a significant role in the huge surge in commodity prices.

Federal Reserve Bank of San Francisco; President's Speech: Maintaining Price Stability in a Global Economy (05/04/2011)

OT:

When the rest of this scandal comes out, and it turns out that up to 15 more of the world's biggest banks (including Chase, Bank of America, and Citi) were doing the same thing as Barclays, our regulators better start "inflecting their eyebrows" pretty damn vigorously. Because if it comes out that these other banks were all involved with this scandal (and it will come out that way, almost for sure), and their CEOs and COOs get to keep their jobs, that'll be a sure sign that the fix is in. Let's hope Ben Bernanke, Eric Holder, and Tim Geithner are listening.

New York Times, Gretchen Morgenson Applaud British, Issue Challenge To American Regulators | Matt Taibbi | Rolling Stone

We buried MERS ... we can bury LIBOR ...

Living wills for large banks might be the dumbest concept so far regarding the TBTF institutions. Who the fuck thinks up of this shit?

The TSA Blog: TSA Week in Review: Grenades Galore

Probably on their way home to Arizona.

Is that possible? That's like $40 an hour?

Who the fuck thinks up of this shit?

typo ... should be Living Well ...

Yes, and thanks Rickkk. I had not seen these reports, but I am pretty certain that there are similar situations in many Greek towns and cities.

They do know a thing or two about it, since they had personified it as being between Scylla and Charybdis, two mythical sea monsters. I think they also coined the phrase to be on the horns of a dilemma.

gab wrote:

That's like $40 an hour?

YMCA is supposed to be 'non-profit'
Summit Area YMCA - Programs and Schedules - Berkeley Heights - Childcare and Early Education

click on 'offsite after school in school care'

American praised for getting Japan radiation data - AJW by The Asahi Shimbun

"Many Japanese were terrified about the health effects of radiation, especially for children, and worried whether their homes, schools and offices were safe. They were also frustrated by the lack of government or other official data on radiation."

"More than eight out of 10 people in the evacuation zone around the Fukushima No. 1 nuclear power plant had no idea there was anything wrong on March 11, 2011, according to the Diet investigation into the accident."

those prices are "per month," not "per week."

Obama calls for extending most tax cuts, setting up election year fight - First Read

No big surprise there...

gab wrote:

"per week."

sorry mistype.
But $500 for after care is bit of ripoff for a public school.

Two Harbors Investment Corp., TWO Stock Quote - (NYSE) TWO, Two Harbors Investment Corp. Stock Price

My clock says....$11 bitchez

I still can't imagine why the IMF hasn't brought those F'ing crooks to prison and electrocuted them... (and their family connected crook empire of mafia shitbags).

Come on Doc....they own the IMF.

Lacker: U.S. in 'good place' on inflation

Lacker downplays possible contagion from Europe

Fed's Lacker does not see recession ahead

Sandals Strolling through the Commentary (9 Jul 2012)

I just watched a bit of the tv news here, and it looks like the EU folks have told Greece to "Stand and Deliver." Some of the comments up today in the Greek media argue that this is what the country needs to do.

A former colleague said his grandmother told him a proverb that went as follows: "rock fall on egg--broken egg; egg falls on rock--broken egg." This makes for a very unpalatable omlette.

This is up today here on the English-language version of Kathimerini. It is by Alexis Papachelas, a highly-respect journalist who has spent a good bit of time in the US: ekathimerini.com | A hands-on battle

‘If the government really wants to succeed it, will first have to change the public discourse. Raising the specter of the “troika bogeyman” simply will not cut it anymore.
‘The eurozone and the International Monetary Fund have done a very professional job in every crucial sector. Troika staff have, for example, surveyed Greece’s health sector and can provide detailed analysis of all the wasteful practices. They also possess enough data to explain why, although things like wages and rents are going down, consumer prices remain unchanged. They know exactly what rules and regulations discourage Greek businessmen from exporting their goods. And, finally, foreign inspectors have scrutinized our public administration and come up with concrete proposals regarding how to fix it.
‘The problem is that any measure or proposal which carries the stamp of the troika or the memorandum is viewed as going against the interests of the people and the nation. Talk of reform in the civil service is always interpreted as an attempt to slash wages, for example.’
This is from today’s Athens News: A lack of trust | Athens News
‘. . . for Greece it’s not just an issue of counterproductive policies. It’s also the fact that Greece is not considered trustworthy and that it has not honoured its obligations to its EU partners. German Finance Minister Wolfgang Schaeuble says it’s up to Greece to regain the trust of its European partners by implementing the agreed measures.
‘Winning back this trust will be the government’s biggest challenge, if Greece stands any chance of brokering a deal that will soften the harsh terms of the memorandum.

‘After a meeting with EU-IMF auditors on July 5, new Finance Minister Yannis Stournaras said he was told to expect a “difficult Monday at the Eurogroup”, which meets on July 9. If his remarks are anything to go by, the prospects of softening the terms of the memorandum appear - for the time being at least - bleak.’

This is a link to the press watch from today: Press Watch, July 9 | Athens News

They know exactly what rules and regulations discourage Greek businessmen from exporting their goods.

The Smoot-Hawley phase of the crisis continues.

Haralambos wrote:

‘The problem is that any measure or proposal which carries the stamp of the troika or the memorandum is viewed as going against the interests of the people and the nation. Talk of reform in the civil service is always interpreted as an attempt to slash wages, for example.’

New Greek Uniform Shirt

Too funny and too true--thanks.

Gary, yes, he did.

Yah, well, what we need are community colleges giving out degrees in executions and have a tsunami of F'ing justice to wipe all these crooks off the face of God's Green Earth:

I have yet to see any arm chair commandos taking up the front. When I look for GO TIME I stand alone on my back deck.....You have not endured enough pain for an uprising any time soon. And if you are waiting for this generation to back you, you can for get it.

Key board, computer, computer screen and comfy chair, and noise lots and lots of noise.

Got Misery?

not if you're in the ownership class:

Apartment rents rise at highest rate since 2007: Reis
| Reuters

Rents are only up 30% in downtown SF in the last two years.

pavel.chichikov wrote:

Doc, what's to stop somebody from doing the same to you?

I'm a pauper, and hope to blend in.

I also have this increasing thematic need for justice ... where there is none.

Comrade Troyski wrote:

Apartment rents rise at highest rate since 2007: Reis

Gee, and I heard on HCN that everyone is broke.

Gloom, despair, and misery on me....

poic wrote:

Rents are only up 30% in downtown SF in the last two years.

How is your rent holding? Mr. Landlord jack it up yet?

MaxedOutMama  makes sense:

"A second, worldwide financial crash is in the offing, and there is nothing anyone can do about it. The banking system is dependent on the ability to accumulate safe, stable reserves, which have in the modern era largely been stored in government bonds. The supply of safe, stable government bonds is running out now.

We seem to be doomed to deflation now. The banking system cannot expand lending if it cannot accumulate reserves against lending losses, so modern Keynesian economics just doesn't work in this situation. Forget the Krugmans and their ilk"

pavel.chichikov wrote:

The only hope is for law to prevail.

ciao.

and alcohol ... plenty of alcohol ...

Oh and a Cabinet full of weaponry and 20,000 rounds of Ammo. I have seen and read it all....Yet I still read the same old whining and complaining since 07 and nothing has been done and we have been shit on 10x since 07. And what do I see and read daily ( not just here abroad )

" They have once more chance and if they ( huff and puff ) were gonna do it this time I swear "

Ya sure...go for it, again Ill take up the rear, dive in Hero's.

Simply awesome.....how history repeats itself.

Can Palestinian concentration camps be far off:

"This Water Is For Jews Only" - The Dish | By Andrew Sullivan - The Daily Beast

The Fed can inject that QE right into the the 1 percenters fat ass.

Nobody cares because nobody is gonna pay back the $16 trillion anyway, with either taxes nor inflation, it's over.

I'm under rent control, so no soup for me.

My apartment in 90025 that I was renting for $700 in 1991 would have a rent of $1400 today had I remained a tenant.

Market rent is around $1700.

Same owners. Their tax expense is $40/mo on that unit. Wonderful system we got here.

Boeing pulls in $7.2 bln 737 order - MarketWatch

Quotable:

"Arkia Israel Airlines Ltd. is in final talks for Airbus A320-family single-aisle airliners, these people said.

An Airbus deal with Arkia would break a long-standing lock that Boeing has had on the Israeli passenger-jet market. Israel’s national airline, El Al Israel Airlines Ltd. several years ago placed an order with Airbus planes, but the contract was later annulled by the government. Arkia executives couldn’t be reached."

I wonder if Israel is using US aid to buy those aircraft?

Morning, muppets.

Got some interesting snippets for you.

They're baaaaack!!!

Romney's assembling his neocon foreign policy team. Trip to visit old Bain friend, Bibi, in Israel, should be interesting. This story names names. Look 'em up to see what's in our future:

"...rifts have emerged in his team between hardline militarists and more traditional GOP realists. Although this has occasionally produced inconsistencies in the campaign’s statements and public disagreements between the candidate and some of his advisers, there remains the general impression that the campaign’s hawks have marginalized their more moderate colleagues — a trend that is also reflected in the candidate’s extremely militarist statements on the campaign trail."

Militarist Monitor: The Romney Foreign Policy Team: Waiting in the Wings - Right Web - Institute for Policy Studies

About 70% of the Neocons who ran the Iraq War are now among Mitt's foreign policy advisors:
Eliot Cohen, Robert Kagan, Robert Joseph, Dan Senor, Eric Edelman, Cofer Black, John Bolton, Michael Chertoff and other members of the now dissolved PNAC and the newly erected FPI.

Colin Powell sounds the warning:
YouTube - Colin Powell on Romney's NeoCon Advisors.mpg

Sandals on the Sidewalk—Protected Professions in Greece (9Jul 2012)

This will be a quick one on so-called protected professions in Greece. The Troika want Greece to open these up. There are many and they have their own peculiarities. From what I know of taxis and pharmacies, the owners usually have to buy their licenses to operate. Think NYC taxi medallions. For both taxis and pharmacies, the cost can be 250,000 euros. The Troika want anyone with the full qualifications to be able to open for a much reduced fee. The current license holders are understandably resisting, since their sunk costs will evaporate. In many cases this is what they rely on for their retirement to top up meager state pensions.

I am sorry to those who think I have jacked this thread—it was and is not my intention.

About 70% of the Neocons who ran the Iraq War are now among Mitt's foreign policy advisors:

Kind of reminds you of Obama's first Cabinet...Oh you know all the former Clinton Tax dodgers.

Strait up I am voting for Neither Romney ( Dope, I know first hand he was my Governor) or the present Liar in charge.

Strait up I am voting for Neither Romney ( Dope, I know first hand he was my Governor) or the present Liar in charge.

♫ if you choose not to decide, you still have made a choice

Former Idealist wrote:

This policy is masking serious US inflation by driving commodity prices lower (artificial stronger dollar).

The much-discussed side effect of QE was, until last year, the resulting rise in commodity prices, especially energy and foodstuffs. With the current and foreseeable problems in Europe, and the reasonable expectation of failures in China and India, I'd say the problem has been finessed, that Bernanke is playing hardball and bidding for last man standing.

You may not much admire Machiavelli, but you're living in his world.

Ya its call my own free will.

President Romney thanks you, should you live in FL, OH, PA, VA, or WI. Otherwise, carry on.

Former Idealist wrote:

The Fed can inject that QE right into the the 1 percenters fat ass.

I'd approve that as long as the injection is applied a nickle at a time...

Lacker: Economy now close to maximum employment

Now that is a blatant out right lie for sure.

President Romney thanks you, should you live in FL, OH, PA, VA, or WI. Otherwise, carry on.

No I live in Mass, my ass has already been thanked many times over from Romney...the gift that keeps on giving.

shill wrote:

Lacker: Economy now close to maximum employment

Told ja!

KarmaPolice wrote:

Texas...Please secede already™

The states who wish to</> should be able to set up their own sovereign nation, apart from the USA. (Rollback on the Civil War/War Between States).

I kinda like the sound of "Confederate States of America", so that's my suggestion. Only rule: all the Confed. states must be geographically adjacent. No checkerboards. If SD wants in, they will have to convince NE and KS if they haven't already joined (assuming OK and TX are already charter members.

Spain given extra time to cut deficit - FT.com

Spain will be given some relief on Tuesday from its austerity woes when its EU partners grant it extra time to meet its steep budget deficit targets which otherwise risk deepening its recession.

However, in return Mariano Rajoy, prime minister, will commit to a fresh round of tax increases, likely to be announced this week, to shore up revenues and help tackle the country’s structural or underlying deficit.

JimPortlandOR wrote:

The states who wish to</> should be able to set up their own sovereign nation, apart from the USA. (Rollback on the Civil War/War Between States).

I would be willing to do something like this:

Jesusland map - Wikipedia, the free encyclopedia

If you want to know someone's performance in the future, check out their track record

Rubinites no truer word spoken.

Vonbek777 wrote:

...now I find out Nova checked out early.

We may envy him soon enough...

Vonbek777 wrote:

Excuse me while I go throw up some more.

Sorry you got the flew Vonbek.

Nova is the loss of a Friend.

Voting is not going to fix this. The time for that has long since passed.

IMF in april predicted greece's GDP would drop 4.7% in 2012

Another Monday, another QE rumor.

Why do they even bother?

Does it make the ponzi anymore believable to anyone at this point?

Nobody but the Fed bought the dow up,

And they ain't selling.

Here's a nice rant on the ramifications of LIE-bor from across the pond:

Barclays Libor scandal: how can we change banking culture? | Business | The Guardian

"There ought to be a verb for this kind of involuntary donation. For true accuracy, it should only come in the passive voice. We could call it: to be bankered. 'What happened to the British in the early 21st century?', a future historian will ask. 'Poor sods,' her colleague might reply. 'I'm afraid they got totally bankered'. ...

So in a sequence of events reminiscent of the Wall Street crash of 1929, the same industry that brought you a financial crisis, a double-dip recession and the greatest economic misery in decades is now vomiting up scandal after scandal.

Shot through these iniquities is a high-handed sense of being above the law. It's obvious in the blatancy with which Barclays went about rigging interest rates even at the height of the crisis while taxpayers were bailing it out with subsidies and guarantees."

Yessireee, we been "bankered", muppets.

This is a case of a picture is worth a thousand words or numbers. Thanks for the data.

Price Data Suggest Specter of Deflation in China - NY Times

HONG KONG — Prices are tumbling across the Chinese economy, according to government data released Monday, as a flood of goods pouring out of the country’s factories and farms exceeds anemic demand from Chinese households and businesses.
The downward trend makes it much harder for businesses to sell enough goods to repay loans that they took out, usually on the expectation of rising prices. Falling prices also discourage investment, which had slowed sharply this spring, and gave consumers an incentive to delay purchases until prices could fall further.

Should have fixed this before letting China into world trade re: The Auditors » Blog Archive » What The SEC And PCAOB Fail To Acknowledge About Chinese Fraud

Horse gone long ago, barn door wide open still...

---CONJURE BAG'S GLOBAL DEPRESSION COUNTDOWN CLOCK---

The clock was last updated on July 2, 2012 at 8:13 PM when it was advanced 10 seconds to 11:57:55.1.

The time is now:

11:58:05.1

China's PPI down 2.1% in June|Economy|chinadaily.com.cn

Conjure's quote of the day via David Rosenberg:

"We are being much more careful on hiring and investment around the world, because this is not a time to be out front with your commitments. We are well-prepared for another global recession, if we get one. ---Dave Cote, Honeywell CEO

Conjure says, "Embrace the mediocrity. Celebrate the awesomeness."

Oh, I get that, I really do. But at some point just stopping the pretense is liberating and worth what comes after. Hell, at this point I don't particularly care if I survive what comes after if at least we try something besides this slow, grinding death by a thousand cuts.

The electoral college will be the final downfall of us. Why should KS, NE, SD, ND, MT, ID, WY, etc get more power than Los Angeles? Hell, these 7 states don't have the population of Orange Co CA! Somebody show me a biggger welfare whore than a corn farmer-- rice farmer and cotton farmers don't count-- and ill be a monkeys uncle.

That is true as well. I thought he might at least put up a bit more of a struggle, though.

Paradigm Lost wrote:

'I'm afraid they got totally bankered'

Wouldn't "Banked" or "Banksterd be more poetic.

And I guess that is what will be the deciding factor as to when it kicks off. When enough people simply don't care if they survive they simply can't stand living the way their living anymore. Not sure when that might be but we're getting much closer.

Dickeylee wrote:

Hell, these 7 states don't have the population of Orange Co CA!

When it comes to electoral votes, Orange Co CA has zero.

OTOH, Orange Co FL has a bunch.

Dickeylee wrote:

show me a biggger welfare whore than a corn farmer

How about any of the DoD welfare that goes on in these same states. But if it is political representation, susidy and influence you seek, you could always move to one of these locales.

Comrade Troyski wrote:

We can't handle the truth, as the man said in that movie.

What we can't handle is the corrupt, Bi-Polar anti- America Politics.

pavel.chichikov wrote:

Romney has so much money now he can probably hire someone to stand outside your window with a mandolin.

Well, it IS about US jobs, isn't it?

Comrade Kristina wrote:

Hell, at this point I don't particularly care if I survive what comes after if at least we try something besides this slow, grinding death by a thousand cuts.

You have to tip the headsman, to get a clean cut.

Romney may have money but O has your tax dollars to campaign with.

Seven Samurai wrote:

Besides, we want to see this area before the war with Iran starts

They know when it might start?!

Comrade Kristina wrote:

Well, yeah! He's a job cremator

Who is this " We " ...certainly not this group. " We " post and talk of the truth daily.

if you've got the free time to bullshit on the internet all day, you're not the general public trying to keep your ahead above the waves.

Comrade Troyski wrote:

the true enemy isn't the politicians, it's the idiocy of the people putting these politicians in office.

End-stage democracy?

Foreign Policy Initiative - Wikipedia, the free encyclopedia

"The Foreign Policy Initiative (FPI) is a conservative, non-profit, tax-exempt organization under Section 501(c)(3) of the U.S. Internal Revenue Code. FPI seeks to promote an active U.S. foreign policy committed to robust support for democratic allies, human rights, a strong American military equipped to meet the challenges of the 21st century, and strengthening America's global economic competitiveness. The organization was founded in 2009 and is led by Executive Director Jamie Fly. FPI’s Board of Directors consists of Eric Edelman, Robert Kagan, William Kristol, and Dan Senor."

PNAC:

Project for the New American Century - Wikipedia, the free encyclopedia 

Well, CK, I genuinely hope it doesn't come to that. Look at the train of events in St. Petersburg 1917 and especially the following Winter.

I have beautiful nieces and nephews and they have little ones of their own.

There will be life without crooked central bankers, and it will be better.

What about all the kids out there that will be the future generation of down trodden, homeless bums being crushed by the same set of Oligarchs and their spawn? Things are not going to get better as time goes on, it will get worse. Eventually, someone will strike the flint that causes the spark that ignites this powder keg.

I get the idea lots of people on here are wage earners on the clock.

Does that mean that Romney has an edge in votes or in momentum with voters?

i don't know ... really haven't followed closely ... i think both are campaigning in virginia this week

RealClearMarkets - The Lean Forward Campaign: A Recipe for Economic Stagnation

• October 4, 1927 - Keystone, South Dakota, Rev. Al Sharpton: "You know what! I'll tell you what. This Gutzon Borglum character, the Mormon sculptor with polygamist parents who wants to carve a bunch of dead president's faces onto a mountain in South Dakota. Well, MSNBC has it from authoritative sources that he's a former member of the Klan. That's right, the Ku Klux Klan! Can you believe government money is being spent to promote racist artwork? I'm calling for a boycott of all products coming from South Dakota until this injustice is corrected."

Comrade Kristina wrote:

I have no health insurance and between my husband and I we make less than 50K combined. I would say we are the general public.

Local trucking company in my wife's home area is not finding all the driver trainees it needs - though the job pays about 40k. Young people don't seem interested in being truckers. Long hours, seven day weeks, away from home a lot, blue collar, non-exportable.

sm_landlord wrote:

substitution-based rate of inflation

As Bill the Cat would say.....Gaaaaaccckkkkk (and sppppfttttt)

The juxtaposition of US income statistics with a tax policy debate orbiting around a quarter of a million dollars does give one pause....

burnside wrote:

It absolutely stuns me how strong that 'things will be right after the revolution' fixation is. It's like crabgrass.

+1

Silver and gold pretending to believe the QE bs today.

I see Marc Faber's been tossing the "D" word about. I thought he was an "I" man.

Deflation! It's what's for dinner...or maybe not.

"I'm looking forward to commenters from those states giving us a play-by-play as October heats up. "

I live in a battleground state. Nuthin' here yet.

Lobbyist Ben Dover wrote:

I get the idea lots of people on here are wage earners on the clock

Honestly, when I worked for the big ass tech company, I maybe worked 20% of the time.
60% was meetings (like 5-6 meetings a day). 20% was getting coffee and shooting the shit.
I figured that I went to like 10,000 meetings just at this company.
Professional ass grove in the chair maker. Hell yeah!

Most of the working class people I know that are struggling to keep food on the table are far from lazy. Many work more than one job and still can't afford basic things like health care, reliable transportation etc. We are a third world country with a first world attitude...for now. As the realization sets in maybe some of the bravado will die down

France Debt Deal Not Near

Former Idealist wrote:

France Debt Deal Not Near

If you want to see a revolt watch the European northern tier refuse to take on the South's debts.

Econbrowser: Current economic conditions 

...let me start with a bit of good news. Calculated Risk, who to my knowledge has never been wrong, called the bottom to the decline in both house construction and prices last February, and sees considerable confirmation of that prediction since then:

• housing starts are increasing
• residential construction spending is up 17% from its low
• new home sales are up 17% so far this year relative to the previous 18 months
• Case-Shiller and Core Logic house price measures may have started to rise modestly. Moreover, a broader perception by home owners and buyers that prices have stopped falling would itself be a significant positive.

I am leaning towards losing my morals and turning into a lying, thieving douche-bag like my betters.

Welcome Home CK, you have finally arrived.

Comrade Kristina wrote:

I have no health insurance and between my husband and I we make less than 50K combined. I would say we are the general public.

That would put you in the 53% percentile for US household income.

Can't get much more middle class than that.

It absolutely stuns me how strong that 'things will be right after the revolution' fixation is.

I've promised myself, after what happend to Nova, to try not to become overly fixated on the someday/year impending .

After all, this may be the best times we'll ever see. Would hate to have ruined worrying about some impending disaster that may never occur.
Being bitter can become a way of life....
Still fun to conjecture though!

black dog wrote:

Calculated Risk, who to my knowledge has never been wrong,

well, i can cross econbrowser off the list of places to visit ...

I like CR, but his fanboi's sometimes go overboard....

Cinco-X wrote:

Calculated Risk, who to my knowledge has never been wrong,

Are we talking about the same Calculated Risk ???????

I expect Bill is getting a chuckle.

CK,

Just be the caring thoughtful human being you are. The outrage will take care of itself, and when it does, you take care of your self.

--bh

Rickkk wrote:

After all, the Federal Reserve, Bank of England and other central banks around the world are also manipulating interest rates. All the time. Except when they do it, it's called "monetary policy." When Barclays does it, it's cheating.

OK, so getting warmer, but the pundits are still not quite getting this. The BofE and the Fed relied on the Libor as an indicator of liquidity. Once the banks figured this out, they ran the Libor up and extorted the central banks and central governments for free money by threatening a panic. My suspicion is that nothing could drive a wedge between the interests of "the big banks" and those of "the Federal Reserve," because they are really the same people, but while the Bank of England is chummy with the big banks, they are not the same entity. And the BofE is pissed off at being played like that.

Fed's Lacker: Economy close to maximum employment - MarketWatch

Comrade Kristina wrote:

what happens when they don't have cable anymore? More and more people can't afford even that.

The alternatives, like Hulu, NetFlix and grey market, offer a far better value, and less time wasted on commercial interruptions.

Bad Dawg Bobby wrote:

Cinco-X wrote:
Calculated Risk, who to my knowledge has never been wrong,

Must have missed the post where CR says he's 2 for 5 on the last polls.

Re wet-behind-the-ears Obama. All presidents are wet behind the ears.

Nonetheless, I agree, Troyski. We must consider that he's a Univ. of Chicago Alum. So who would his associates likely be. I'm not sure what choices he actually had for his econ team. But when I saw Summers and Geithner, I knew what we were in for. No doubt he was dealt a shitty hand day one.

Romney's an ex-gov. Govs traditionally are shaky on foreign policy and better on domestic. It's natural his campaign would be stuffed with the Bush neocons. But I'm most concerned about his longtime friendship with Israel's present leader.

Anyway, one candidate had his wings clipped...the other is awaiting shearing.

sdtfs wrote:

This does not accord with what I know of truck driving. So I have to wonder why they are desperate to hire trainees, rather than licensed truck drivers.

5 years entry level with no accidents,clean background check and get a hazmat endorsement...

You'll never be out of work.

Chris

My parents must have instilled them too deeply, it's hard to just flip to the dark side seamlessly.

Just got a High CPU Usage warning, and all I have open is CR. Pearl's computer has been shutting down on her here too. What's up with that?

• 100

"Just got a High CPU Usage warning, and all I have open is CR. Pearl's computer has been shutting down on her here too. What's up with that? "

I get that occasionally when running Firefox with Adblocker. Just kill your browser sessions and start again.

Never mind what I do...I make money doing what I do. The " Bull shit :" as you state is a mere percentage.

whatever you do, bullshit -- nonpositive net wealth creation -- is clearly the dominant element of your day.

The people actually creating the wealth this nation requires to survive aren't on the internet at 2-3PM EDT.

Sadly, this includes me all too often.

Thanks poic.

Cinco-X wrote:
Calculated Risk, who to my knowledge has never been wrong,

CR said over and over again back in 2006-2007 that the coming recession would be mild while many of his commenters were saying it would be very severe.

He said that the decline in home prices would be very slow on the order of 2%-5% a year.

Commenters on his site on the other hand forecast a harrowing 35% decline in just over 3 years or so.

I always figured CR might have been more pessimistic than he lead on to be but in the end you can only judge somebody by who you know about them from the outside...

poic wrote:

They post from an IPad [sic]?

Anyone in particular in mind?

$3.27 in Provo Utah. 43.9 cents taxes.

I wonder if Israel is using US aid to buy those aircraft?" KP
...
good. maybe my bro' can go fly for the Israelis.
...
as for the Conjure Clock ...
I know y'all like to be dramatic but adding 1/10 seconds to the Clock
kills the tension...
imagine what High Noon would be like if they did the same...?

Probably picking on me, Cinco. I've been known to used the dread tablet.

And from the looks of your icon you've got one dilated pupil and that wandering eye issue. You're gonna have to get those issues dealt with before you can become a serious villain.

Okay poic. Which would you recommend?

http://comps.canstockphoto.com/can-stock-photo_csp5091011.jpg