I think the credit crisis has given way to the unemployment/repossession/bankruptcy/living in poverty crisis for many at the top and the bottom. Relatively speaking of course.
Jamie Dimon: "I comb my brain to think of what else could possibly go wrong? Everything is being resolved." Gov't in the world have done powerful stuff.
CR,
The LIBOR is most certainly a very useful number but I was wondering if it wasn't so much and indicator of "credit crisis" as it is an international credit arbitrage.
Are we learning anything new from these 6 criteria than we would from just the A2P2?
Nov. 12 (Bloomberg) -- House Republican leader John Boehner is calling for the Federal Reserve to disclose the recipients of almost $2 trillion of emergency loans from American taxpayers and the troubled assets the central bank is accepting as collateral.
What would happen if they simply stopped with this bailout money? Would our financial and banking system implode? Haven't we lost some 20 trillion in wealth, added 4 trillion to the debt, and seen industries bankrupted?
It seems like all they are doing is putting a band aid on a severed limb.
"Wall Street's war against Christmas continues. Today Citi informed employees that it was canceling the bank sponsored holiday parties. Managing directors at the bank have been urged to donate money that would have been spent on the holiday parties to charity. The bank says the move acknowledges "the many many people less fortunate than ourselves this holiday season"
"For Wall Street workers still employed, there could be a hefty bonus in their checks next month.
According to a report from financial news agency Bloomberg, Goldman Sachs, for example, has set aside $6.8 billion for bonuses, and Morgan Stanley, $6.4 billion.
Gandel, who's a Money magazine senior writer and contributor to Time.com says, "Compensation should be down 70 percent but, because all this new money is coming from the government, the firms are now saying they can pay more, and so they're only going to cut bonuses by 40 percent."
Even without bonuses, the mean annual salary for a securities industry employee was just under $400,000, David notes, ten times more than the average U.S. worker.
Overall, David says, there's secrecy around how the hundreds of billions of bailout dollars are being used. The Federal Reserve Board has refused to say which banks are getting how much of the pie. And now Bloomberg is actually suing the Fed to get that information."
Is the Libor for real? Are banks really lending to one another or are we still in "we guess Libor should be this much" world as Conjure bag wrote in his paper... By the way - has anyone had an mp sighting recently?
What would happen is that it would be painful for a few months to a year. After that we might have some semblance of a real recovery, not like the jobless recovery of '02-'03. It would suck but instead of death by a thousand cuts (what we have now) it would be a severing of a head. It might even stop the market (circuit breaker) however it would be swift and meaningful (actual capitulation) and we would be able to, at the very least, see the other side of the valley instead of trying to consistently create yet another floor.
Nov. 12 (Bloomberg) -- Senator Max Baucus, presenting the first Democratic health plan since President-elect Barack Obama's victory, said all Americans should be required to have insurance once coverage is made affordable.
Asshat Baucus. Not Universal health care but universal health INSURANCE. More mandatory bizness for the bankrupt insurance cos.
Noble writes: By the way - has anyone had an mp sighting recently?
mp stopped by a couple days ago and indicated he was both busy and disappointed in our election-time festival of irrationality. That's the last time I saw him. He could be several other people too, though.
CBV
What would happen if they simply stopped with this bailout money? Would our financial and banking system implode? Haven't we lost some 20 trillion in wealth, added 4 trillion to the debt, and seen industries bankrupted?
Nothing would change, except we would get to where we"re going quicker.
If you can't use your intraday chart like a Rorschach ink-blot, you might need an imagination upgrade. Don't forget yesterday afternoon's Gandalf formation, either.
Any banks getting TARP funds should have zero bonuses. Come on - this is getting beyond ridiculous. GS wants to merge with C and they want to pay out 6B is bonuses! Gimme a freakin break. Only question is: Will the real capitalists take down the stocks before year end to a point where paying bonuses would be impossible?
"For Wall Street workers still employed, there could be a hefty bonus in their checks next month.
According to a report from financial news agency Bloomberg, Goldman Sachs, for example, has set aside $6.8 billion for bonuses, and Morgan Stanley, $6.4 billion.
Gandel, who's a Money magazine senior writer and contributor to Time.com says, "Compensation should be down 70 percent but, because all this new money is coming from the government, the firms are now saying they can pay more, and so they're only going to cut bonuses by 40 percent."
CBV
What would happen if they simply stopped with this bailout money? Would our financial and banking system implode? Haven't we lost some 20 trillion in wealth, added 4 trillion to the debt, and seen industries bankrupted
So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE? BARREL BOTTOM FILTH! Especially that friggin little island called "Great" Britain.
Man, I sure would like to find that bottom valve and open it! After that the French and Dutch and Germans would surely give a collective kick to move that friggin island further way to Atlantic and sink that bastard in the middle!
What's truly amazing to me about the 15% give-back since last Wednesday's SPX prairie dog above 1k is the near absence of any technical indicators of panic. the whole thing has been amazingly orderly. I still have to believe that someoen is going to yell "fire!!!" before this is over, though.
Nov. 12 (Bloomberg) -- Sears Holdings Corp. is entering what may be the worst holiday season in decades with 42 percent less cash on hand than a year earlier, declining cash flow, hard-to-sell real estate and retail operations lagging behind competitors.
Hilipatihippa writes: So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE?
We're mutts here in America. Please don't forget the kikes, wops, pollacks, chinks, gypsies, japs, happy negros, mexicanos etc among the armed bandits and human jetsam that took your wallet.
The weak U.S. economy will slash America's oil demand this year by 1.1 million barrels per day, or 5.4 percent, the first time annual oil consumption will fall by more than 1 million bpd since 1980, the federal Energy information Administration said on Wednesday.
For 2009, total U.S. oil demand was projected to drop by an additional 250,000 bpd, or 1.3 percent, the Energy Department's analytical arm said in its new monthly forecast.
Sears is spiraling in. Macy's is crashing and burning. Choose your poison.
I am a broken record but people just don't acknowledge just how overretailed the US is. Neutron vacate half the current square footage and we are still over retailed. This kind of imbalance doesn't leave survivors.
"parity it what I've bet on. Can't make it a basket of currency(s) if they are imbalanced. May not be exactly 1:1 but a few ticks is close enough."
Curious who are you referring to, as in who is making the basket? I'm looking for low risk strategies to diversify out of $ when timing looks right, but having trouble accepting premise that any one currency will be better. Excuse my lame 101 question.
First, fed funds futures contracts, which are based on the average effective rate rather than the target over a given month, are primarily an indicator of how these institutional factors play out-- how much the effective rate differs from the target-- and signal little or nothing about future prospects for the target. Second, the target itself has become largely irrelevant as an instrument of monetary policy, and discussions of "will the Fed cut further" and the "zero interest rate lower bound" are off the mark. There's surely no benefit whatever to trying to achieve an even lower value for the effective fed funds rate. On the contrary, what we would really like to see at the moment is an increase in the short-term T-bill rate and traded fed funds rate, the current low rates being symptomatic of a greatly depressed economy, high risk premia, and prospect for deflation.
Who shops at Sears? Other than Spanish speaking, recent immigrants? Well, we bought a washer from them last week. But that was habit more than anything.
Byzantine_Ruins writes:
Hilipatihippa writes:
So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE?
We're mutts here in America. Please don't forget the kikes, wops, pollacks, chinks, gypsies, japs, happy negros, mexicanos etc among the armed bandits and human jetsam that took your wallet.
Selling tools, BBQ's and the occasional appliance is not going to keep Sears in biz. I like Sears. I like the work clothes and tools. But I am not the demographic that keeps a mall anchor open.
CR: in my mind, LIBOR became a useless indicator as soon as the central bank said they would stand behind all overnight interbank loans. At that point, it no longer indicates whether banks trust each other, but instead whether they trust the central bank to follow through on its commitment.
All you socialists go to hell. Every last one of you. You're all socialists looking for a hand out. You hate sarah palin because she speaks the truth and look what you rotten people did to her.
Rob Dawg: Here here. The absolute saving grace, and I mean grace, is American diversity.
Absolutely. The xenophobes really miss how important it is to this country's success to have the maximum variety of Americans possible. Brilliant minds and foreign ideas are the key to a successful civilization.
Sorry the list wasn't longer, I didn't want to belabor it. Suffice it to say that in my eyes, everyone from the marsh Arabs to the Koreans to the Sudanese immigrants is important to the band of robbers I call my countrymen.
They bring new food, new approaches, and a chance to offend a world that prides itself on being so high-minded that it won't let foreigners anywhere near their country.
So don't call us Anglos, Hilithippa. We're much more than that. We did, however, steal your wallet. Thanks! Is this lady's picture in here your girl or your sister? She's pretty hot.
ACP, we are a ways away from 2200 down. I think the first breaker, 1100, i.e. no market close before 2200, is the one that will be in play, if we get that far. As to which there can be no assurance.
uhm, just a follow up. not predicting the death of ibm. Far from it. Sources are not line-employees, but management. Put it another way, they are in fact going to layoff.
But, if I go back to china-decoupling, then their strategy made sense to attrition US forces and focus on Chinese market share. if decoupling is in fact an argument put to rest (CR) then IBM's strategy doesn't work on both sides of the world.
in any case, if you we're shorting (very hypothetical) you do it now, then buy at whatever theoretical low, watch stock pump up post-layoff announcement then sell for good.
My prediction yesterday was for S&P to fall 7% for fair value, which could be an hour from now or 6 months... but stocks are still way overvalued and dividend cuts are the next shoe to drop....
Funny thing about those breaker trigger values is that (AFAIK) they are established in 10% increments base don the DJI at the beginning of each quarter. Thanks to October's bloodbath, the 4th quarter triggers are now much larger than 10% moves. 1100 points is more like a 12-13%er now, and getting progressively bigger in relative terms by the day.
"hey bring new food, new approaches, and a chance to offend a world that prides itself on being so high-minded that it won't let foreigners anywhere near their country."
As the food goes, so goes the country; I'm only half-jesting.
A couple of the pizza-by-the-slice places around here now put bottles of El Tapatio taco sauce on the counter alongside the shakers of grated cheese and garlic salt. Why not? Most of the cooks are Latino, and half the lunch rush. And it's good.
Walked into an old-school local donut shop yesterday and found apple chimichangas in the display case next to the old-fashioneds and raised-glazed. It's apple-pie filling rolled up in a flour tortilla, deep-fried, and covered with sugar, and it's goo-ood.
CR's data and credit indicators are certainly the best, but what are some Risk Perception meters that are keeping borrowers away in droves? How about what hard money commercial loan rates and terms have done in the last 3 years? Things getting better there too? No?
These indicators are missing something. Take a look at treasury rates, in particular the IRX. Huge demand still for treasuries so there is still massive panic in the air that these indicators CR is showing is somehow missing.
"Here here. The absolute saving grace, and I mean grace, is American diversity. "
Yeah, that was the success story of Japan and Korea. Diversity! Maybe NOT!
No, you cannot outrun (mostly) a black man but you as white man might outsmart (mostly) him, that is the fact and further Asian man might (mostly) outsmart you the big white man but lose with the competition with penis size but (again) YOU would (mostly) lose with the size.
Why is the Africa, the richest continent of the world, so poor?
No, you cannot outrun (mostly) a black man but you as white man might outsmart (mostly) him, that is the fact and further Asian man might (mostly) outsmart you the big white man but lose with the competition with penis size but (again) YOU would (mostly) lose with the size.
Bluster all you want, we still stole your wallet. An Asian came up with the plan, a black dude grabbed it and an Arab and a Mexican had a knife fight to see who could pawn it for the most. Then we all had a big dinner of Indian foo and laughed about what a sucker you are. Welcome to America.
"Then we all had a big dinner of Indian foo and laughed about what a sucker you are. Welcome to America."
Yeah. Heard that story so many times before. But when comes to engineering, any kind of engineering, software, auto, hardware, bridge building or even dildo frequency orgasm analyzer, the last thing I would do is to hire an Anglo Engineer. You just....what is the word....black hole and something do with SUCKING!
"So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE? BARREL BOTTOM FILTH! Especially that friggin little island called "Great" Britain. "
You sound terribly overexcited. Sit down and have a soothing cup of tea.
"You sound terribly overexcited. Sit down and have a soothing cup of tea."
I did that, I even watch Heroes Season 3 even, three sessions with Mohander cool. But still I got this superpower of KILLING OF ALL STUPID ANGLOS WITHIN 500 YARDS!
5th?
I contribute nothing but Nemo!
First is illusion.
Awesome
casino opening
memo
Now we just enjoy the deflationary pressures the crisis created, until we all realize the government overreacted and inflation comes back.
I think the credit crisis has given way to the unemployment/repossession/bankruptcy/living in poverty crisis for many at the top and the bottom. Relatively speaking of course.
first
C is a sigle digits stock
Knock off the firsts. Think of the kittens.
Interesting write-up on the meaning of the Fed funds rate in todays world:
Econbrowser: The new, improved fed funds market
wonder what the fallout will look like by next quarter after one of the big three fails...
Jamie Dimon: "I comb my brain to think of what else could possibly go wrong? Everything is being resolved." Gov't in the world have done powerful stuff.
Two words: Stockholm Syndrome
Credit indications can improve until the cows come home - but if that credit ain't bein' lent.. well...
Pthh..
Donkeys for everyone.
CR,
The LIBOR is most certainly a very useful number but I was wondering if it wasn't so much and indicator of "credit crisis" as it is an international credit arbitrage.
Are we learning anything new from these 6 criteria than we would from just the A2P2?
wonder what the fallout will look like by next quarter after one of the big three fails...
blackhat
funny i didnt take you for an optimist....
I was told by a retired GM'er that they are no longer to be referred to as the "Big Three" but the "Detroit Three"
Steel stocks pricing in depression
CLF, MT, AA
ugly
Also, almost no demand for year-end money from the TAF. A 150B offered and only 13B bid.
FRB: Press Release--Federal Reserve announces results of auction of $150 billion in 17-day credit held on November 10, 2008 --November 12, 2008
Looks like the system is flooded with cash and we're not going to see the same quarter end squeezes.
C is sinking
looks like we have a small "batman" formation between about 12-1pm on the market chart
The market will be propped next week. CBOE will make sure of it.....it is, afterall, Op. Ex.
I'll be adding to open put positions then.
Ciao
MS
All that spreading for sooo long must have TED very tired, indeed.
looks like we have a small "batman" formation between about 12-1pm on the market chart
irreverent
ROTFLOL!!!!!
bearly writes:
C is a sigle digits stock
and Ford and GM might get de-listed
Progress is a relative word. Progress for Chinese woman was when they stopped binding their feet.
1:20 p.m.
Unemployment expected to hit 9%, Wachovia economists say
C&C
Unemployment expected to hit 9%, Wachovia economists say
Are they referring to their department?
c&c - 9% was my call some months ago. Now, I am going to have to revise downward.
Progress for Jamie Dimon would be to understand what 20:1 leverage will do to his house of cards in '09.
Nov. 12 (Bloomberg) -- House Republican leader John Boehner is calling for the Federal Reserve to disclose the recipients of almost $2 trillion of emergency loans from American taxpayers and the troubled assets the central bank is accepting as collateral.
Whatever
C halted redemptions and its funds staving off margin calls ?
I still say 9-10%
wow shorting and MS and C earns me a handsome 3% today
thats an awesome yield.
Market is fixing to scare the hell out of people, if I am reading the tape correctly.
A little thread sound for a jamming hump day.
YouTube -
I miss my Hot Wheels.
What happens when we need to bailout C?
Couple of things
bearly writes:
C is a sigle digits stock- I remember back in 90?91? when they needed the bailout in the S&L crisis.. last time they were this low.
Unemployment 6%? BS.. I bet it's closer to 10% in reality.
I fear for our country. In times of despair, that is when we are the weakest. There's a reason guns and gold are scarce.
clink clank clink clank up the hill we go...The next ride down is gonna be gut wrenching methinks...
shovel in hand , working on the bunker
865 spx...defense, defense, defense...
how good is the defense...I bet not good against the spread offense..
The Great Unwinding continues...taking down all leveraged assets/entities in its path
Indicators are meaningless unless the system comes back to some semblance of functionality.
I'm calling a "tradable bottom" here until mid-December. SPY & SSO & BGU oh my!
CC
Well put. I would add, Losses continue to mount.
Can I get a serious answer to this?
What would happen if they simply stopped with this bailout money? Would our financial and banking system implode? Haven't we lost some 20 trillion in wealth, added 4 trillion to the debt, and seen industries bankrupted?
It seems like all they are doing is putting a band aid on a severed limb.
Ohio takes another hit after DHL layoffs. Whirlpool Corp 570 layoffs this week
For less than half of the AIG bailout, the government could have owned Citi in open market...
I think we are oversold at these levels and Dow @ ~8380 seems to provide a support (while flimsy at best - next support @ 8200).
"Wall Street's war against Christmas continues. Today Citi informed employees that it was canceling the bank sponsored holiday parties. Managing directors at the bank have been urged to donate money that would have been spent on the holiday parties to charity. The bank says the move acknowledges "the many many people less fortunate than ourselves this holiday season"
Citi (C) Cancels Christmas
"For Wall Street workers still employed, there could be a hefty bonus in their checks next month.
According to a report from financial news agency Bloomberg, Goldman Sachs, for example, has set aside $6.8 billion for bonuses, and Morgan Stanley, $6.4 billion.
Gandel, who's a Money magazine senior writer and contributor to Time.com says, "Compensation should be down 70 percent but, because all this new money is coming from the government, the firms are now saying they can pay more, and so they're only going to cut bonuses by 40 percent."
Even without bonuses, the mean annual salary for a securities industry employee was just under $400,000, David notes, ten times more than the average U.S. worker.
Overall, David says, there's secrecy around how the hundreds of billions of bailout dollars are being used. The Federal Reserve Board has refused to say which banks are getting how much of the pie. And now Bloomberg is actually suing the Fed to get that information."
Is the Libor for real? Are banks really lending to one another or are we still in "we guess Libor should be this much" world as Conjure bag wrote in his paper... By the way - has anyone had an mp sighting recently?
Baron-
What would happen is that it would be painful for a few months to a year. After that we might have some semblance of a real recovery, not like the jobless recovery of '02-'03. It would suck but instead of death by a thousand cuts (what we have now) it would be a severing of a head. It might even stop the market (circuit breaker) however it would be swift and meaningful (actual capitulation) and we would be able to, at the very least, see the other side of the valley instead of trying to consistently create yet another floor.
IMO
Ciao
MS
Nov. 12 (Bloomberg) -- Senator Max Baucus, presenting the first Democratic health plan since President-elect Barack Obama's victory, said all Americans should be required to have insurance once coverage is made affordable.
Asshat Baucus. Not Universal health care but universal health INSURANCE. More mandatory bizness for the bankrupt insurance cos.
Noble writes:
By the way - has anyone had an mp sighting recently?
mp stopped by a couple days ago and indicated he was both busy and disappointed in our election-time festival of irrationality. That's the last time I saw him. He could be several other people too, though.
CBV
What would happen if they simply stopped with this bailout money? Would our financial and banking system implode? Haven't we lost some 20 trillion in wealth, added 4 trillion to the debt, and seen industries bankrupted?
Nothing would change, except we would get to where we"re going quicker.
The bank says the move acknowledges "the many many people less fortunate than ourselves this holiday season"
Translated; be fearful of the peasants showing up with rope, tar, and feathers. Run for the hills
irreverent writes:
looks like we have a small "batman" formation between about 12-1pm on the market chart
These are funny ie batman and bart simpson. Are they true or are you just pulling our legs?
B_R
Thanks!
thank god we bailed out the wall st bonuses this year good times
watching C right now...down a penny with each tick...
If you can't use your intraday chart like a Rorschach ink-blot, you might need an imagination upgrade. Don't forget yesterday afternoon's Gandalf formation, either.
Anyone watching the ₤? Is this a race with € down to parity with $ before $ breaks?
The market will be propped next week. CBOE will make sure of it.....it is, afterall, Op. Ex.
Just trying to get a rise out of me?
Any banks getting TARP funds should have zero bonuses. Come on - this is getting beyond ridiculous. GS wants to merge with C and they want to pay out 6B is bonuses! Gimme a freakin break. Only question is: Will the real capitalists take down the stocks before year end to a point where paying bonuses would be impossible?
"For Wall Street workers still employed, there could be a hefty bonus in their checks next month.
According to a report from financial news agency Bloomberg, Goldman Sachs, for example, has set aside $6.8 billion for bonuses, and Morgan Stanley, $6.4 billion.
Gandel, who's a Money magazine senior writer and contributor to Time.com says, "Compensation should be down 70 percent but, because all this new money is coming from the government, the firms are now saying they can pay more, and so they're only going to cut bonuses by 40 percent."
Methinks PCA's tradeable bottom might be in for a wicked spanking this afternoon.
CBV
What would happen if they simply stopped with this bailout money? Would our financial and banking system implode? Haven't we lost some 20 trillion in wealth, added 4 trillion to the debt, and seen industries bankrupted
Why won't it happen..We can handle the truth...
YouTube - A Few Good Man "You Can't Handle the Truth"
ACP, ayup.
Any banks getting TARP funds should have zero bonuses.
And the entire management staff should spend a one day a week in stockades outside the building until the national debt is paid down.
Oh noez, no clink clank to get back up the hill again?
OT,
Insider noted that rumors now flying around IBM about massive layoffs post Jan 1.
They took it on the chin on their commercial-side when the big financials went under and have scaled back to zero.
Financials are typically the ones that pay for the COOP & DR and redundancy and hotsites and high-end class of servers....
So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE? BARREL BOTTOM FILTH! Especially that friggin little island called "Great" Britain.
Man, I sure would like to find that bottom valve and open it! After that the French and Dutch and Germans would surely give a collective kick to move that friggin island further way to Atlantic and sink that bastard in the middle!
1 to 1 euro to dollar - ?
Assume Crash Positions! writes:
Methinks PCA's tradeable bottom might be in for a wicked spanking this afternoon.
Don't hurt 'em (inverted) hammer!
My stop on all these is 845.27 SPX. But of course I'm averaging into these positions between 975-950.
hank where's that ppt? we're in the 8300's
Anonymous | 11.12.08 - 2:03 pm |
Was me. Later.
What's truly amazing to me about the 15% give-back since last Wednesday's SPX prairie dog above 1k is the near absence of any technical indicators of panic. the whole thing has been amazingly orderly. I still have to believe that someoen is going to yell "fire!!!" before this is over, though.
Macys? Sears.
Nov. 12 (Bloomberg) -- Sears Holdings Corp. is entering what may be the worst holiday season in decades with 42 percent less cash on hand than a year earlier, declining cash flow, hard-to-sell real estate and retail operations lagging behind competitors.
blackhat writes:
"Insider noted that rumors now flying around IBM about massive layoffs post Jan 1."
No sign of panic with insiders I'm working with.
irreverent writes:
hank where's that ppt? we're in the 8300's
The Detroit Three are trying to body-block them it giving them the pump
@Hilipatihippa
boy, some people just spew, don't they
ova-
parity it what I've bet on. Can't make it a basket of currency(s) if they are imbalanced. May not be exactly 1:1 but a few ticks is close enough.
Ciao
MS
Hilipatihippa writes:
So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE?
We're mutts here in America. Please don't forget the kikes, wops, pollacks, chinks, gypsies, japs, happy negros, mexicanos etc among the armed bandits and human jetsam that took your wallet.
Comrade Vistulian writes:
Agreed, the death of IBM has been reported so many times it gets truly annoying after awhile hearing about it
The selection of "the chosen one" sure hasn't done much to calm the markets. SPX off ~15% in the past week.
ova - Eddie "wanna-be WB" Lampert is going to wish someone would kidnap him agai
looks like a batman head and shoulders type day
The Financial Times' Martin Wolf on the Detroit Three:
FT.com / Columnists / Martin Wolf - Obama’s economic challenges
Increase unemployment benefits to take care of the auto workers and let the auto makers go BK.
Nov. 12 (Bloomberg) -- Sears Bank Holdings Corp...
nova: Hungry Ponies |
There, all is better.
Got Popcorn?
Neil
OIl: "KEY ENERGY SERV"
The weak U.S. economy will slash America's oil demand this year by 1.1 million barrels per day, or 5.4 percent, the first time annual oil consumption will fall by more than 1 million bpd since 1980, the federal Energy information Administration said on Wednesday.
For 2009, total U.S. oil demand was projected to drop by an additional 250,000 bpd, or 1.3 percent, the Energy Department's analytical arm said in its new monthly forecast.
Russia is devaluing the rouble
The central bank faces the danger that, by signalling a devaluation may be on the cards, it may spark a run on the rouble.
Meanwhile, int UK, you can buy a GBP for $1.49.
Agreed, the death of IBM has been reported so many times it gets truly annoying after awhile hearing about it
IBM is the cockroach of giant corporations.
hil seems to forget that he or his "wonderful" gov't or race didn't have to buy these things.
Greed is a unilateral thing.
Ciao
MS
"The selection of "the chosen one" sure hasn't done much to calm the markets. SPX off ~15% in the past week."
Au contraire. IMO it's actually been a surprisingly calm and orderly procession to the exits.
Sears is spiraling in. Macy's is crashing and burning. Choose your poison.
I am a broken record but people just don't acknowledge just how overretailed the US is. Neutron vacate half the current square footage and we are still over retailed. This kind of imbalance doesn't leave survivors.
Assume-
which makes it all the more likely that we get a good 'ole short covering "whuup ass" next week.
Ciao
MS
MS writes:
nova-
"parity it what I've bet on. Can't make it a basket of currency(s) if they are imbalanced. May not be exactly 1:1 but a few ticks is close enough."
Curious who are you referring to, as in who is making the basket? I'm looking for low risk strategies to diversify out of $ when timing looks right, but having trouble accepting premise that any one currency will be better. Excuse my lame 101 question.
There will be thunderous cheers across Chicagoland if Macy's goes down, after ditching the history of Marshall Field & Co. for a red star.
The new, improved fed funds market
Econbrowser: The new, improved fed funds market
First, fed funds futures contracts, which are based on the average effective rate rather than the target over a given month, are primarily an indicator of how these institutional factors play out-- how much the effective rate differs from the target-- and signal little or nothing about future prospects for the target. Second, the target itself has become largely irrelevant as an instrument of monetary policy, and discussions of "will the Fed cut further" and the "zero interest rate lower bound" are off the mark. There's surely no benefit whatever to trying to achieve an even lower value for the effective fed funds rate. On the contrary, what we would really like to see at the moment is an increase in the short-term T-bill rate and traded fed funds rate, the current low rates being symptomatic of a greatly depressed economy, high risk premia, and prospect for deflation.
Who shops at Sears? Other than Spanish speaking, recent immigrants? Well, we bought a washer from them last week. But that was habit more than anything.
"which makes it all the more likely that we get a good 'ole short covering "whuup ass" next week."
I think I agree. I've been shedding puts the last couple of days. Not ready to start going long just yet, though.
one currency will be better. Excuse my lame 101 question.
Comrade Vistulian | Homepage | 11.12.08 - 2:11 pm
Comrade - your name is the river?
I am just happy that it goes to 1 - 1 so I can go to Europe an actually afford to eat well.
Byzantine_Ruins writes:
Hilipatihippa writes:
So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE?
We're mutts here in America. Please don't forget the kikes, wops, pollacks, chinks, gypsies, japs, happy negros, mexicanos etc among the armed bandits and human jetsam that took your wallet.
Here here. The absolute saving grace, and I mean grace, is American diversity. As a frog/potato eater melangé I am only upset that my mongrel genetics were overlooked in your snark.
You liberals won't be happy until the messiah brings your socialist utopia..
Down goes Frazier
Down goes Frazier
Maybe - 473.2 today.
Ugh.
Reaganonomics, Bushonomics, NAFTA, CAFTA, free trade, deregualtion, globalization, world is flat, debt is the new wealth, taxpayer stimulus, Paulson, Bernanke Fed , TARP, PPT = Faith-Based Failures.
Never trust a guy who won't mow his lawn and can't unplug a stopped up toliet.
Ya know, at -300+ per day the dow will be gone before Santa can save Macys or Sears
I'm concerned somebody might get their feelings hurt.
Ohh noooooo-sperm shack is back..please love shack mother come here and take him for a ride in the stroller...
Sears has great prices on Kenmore barQ's...stronger than the rest...
FWIW, we're 20 minutes from the circuit breaker net being pulled for the day.
I think Sperm Shack and Burt the vet are the same person.
Sears is a good place to buy Craftsman tools. Other than that it's Mervyn's. I did buy a suitcase from them two years ago though.
ova: Hungry Ponies writes:
"Comrade - your name is the river?"
No, its a put down on the locals. The SoCal posters might get it. Sorry if I hit anyone's nerve.
Sperm Shack,
Liberals, I assume you mean the top 1% socialist beneficiaries being bailed out by the lowly taxpayers gang-chained to support them
Selling tools, BBQ's and the occasional appliance is not going to keep Sears in biz. I like Sears. I like the work clothes and tools. But I am not the demographic that keeps a mall anchor open.
ACP not for the day, I don't think. The market will not open for weeks if they close on the first breaker.
The wall street bonus entitlement mentality says it all.
Wall street really does allocate capital efficiently - to themselves.
Tear it all down. Leave not one stone upon another.
CR: in my mind, LIBOR became a useless indicator as soon as the central bank said they would stand behind all overnight interbank loans. At that point, it no longer indicates whether banks trust each other, but instead whether they trust the central bank to follow through on its commitment.
All you socialists go to hell. Every last one of you. You're all socialists looking for a hand out. You hate sarah palin because she speaks the truth and look what you rotten people did to her.
ppt keeping powder dry, to new low for day after 2 pm
I can't wait for the CNBC misfits to tell me how we close off the lows.
Anoddamoose - I'm going off this info:
NYSE, New York Stock Exchange > About Us > News & Events > Media Resources > Media Resources
No halt in trading after 2:30 is how I read it.
Socialism for the top 5%. Capitalism for the rest of us.
Sperm Shack = Burt
No way two individuals could be that bad bad at spamming, and not on this blog.
Don't feed the troll.
If a store fails in a mall and no one is around to hear it, does it make a sound?
Rob Dawg:
Here here. The absolute saving grace, and I mean grace, is American diversity.
Absolutely. The xenophobes really miss how important it is to this country's success to have the maximum variety of Americans possible. Brilliant minds and foreign ideas are the key to a successful civilization.
Sorry the list wasn't longer, I didn't want to belabor it. Suffice it to say that in my eyes, everyone from the marsh Arabs to the Koreans to the Sudanese immigrants is important to the band of robbers I call my countrymen.
They bring new food, new approaches, and a chance to offend a world that prides itself on being so high-minded that it won't let foreigners anywhere near their country.
So don't call us Anglos, Hilithippa. We're much more than that. We did, however, steal your wallet. Thanks! Is this lady's picture in here your girl or your sister? She's pretty hot.
San Diego getting spanked today...
vistulian-
I speak of shorting the euro...DRR
Been in it since low 40's.
Ciao
MS
ACP, we are a ways away from 2200 down. I think the first breaker, 1100, i.e. no market close before 2200, is the one that will be in play, if we get that far. As to which there can be no assurance.
I personally think Sperm Shack is a heck of a satirist. Do another Palin joke SS, please... pretty please
kona-
SD getting spanked? Do elaborate...
Ciao
MS
uhm, just a follow up. not predicting the death of ibm. Far from it. Sources are not line-employees, but management. Put it another way, they are in fact going to layoff.
But, if I go back to china-decoupling, then their strategy made sense to attrition US forces and focus on Chinese market share. if decoupling is in fact an argument put to rest (CR) then IBM's strategy doesn't work on both sides of the world.
in any case, if you we're shorting (very hypothetical) you do it now, then buy at whatever theoretical low, watch stock pump up post-layoff announcement then sell for good.
but, whatever.
Anoddamoose writes:
Sperm Shack = Burt
And DK too I reckon.
My prediction yesterday was for S&P to fall 7% for fair value, which could be an hour from now or 6 months... but stocks are still way overvalued and dividend cuts are the next shoe to drop....
Mark Haines going off today..
Mark Haines Thinks Treasury Treats US Like Mushrooms: Kept In Dark, Fed BS
video in middle page...
With a name like sperm shack, he ought to go shack up with the rest of the gay closeted lying log cabin republicans.
Funny thing about those breaker trigger values is that (AFAIK) they are established in 10% increments base don the DJI at the beginning of each quarter. Thanks to October's bloodbath, the 4th quarter triggers are now much larger than 10% moves. 1100 points is more like a 12-13%er now, and getting progressively bigger in relative terms by the day.
Hilipatihippa writes:
So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE?
anti anglo rage is just beginning - black swan?
Push the UK toward
Also,
JP, you're right on the closeted gay republicans. I know more gay GOP'ers masquarading as straight than I do any other group.
The yen is looking mighty strong. G7 strikes out again. Buh-bye re-starting the carry trade.
FYI: Not the same JP as me (ref my homepage.) Not that I wouldn't have posted it if I'd thought of it first.
JP, you're right on the closeted gay republicans. I know more gay GOP'ers masquarading as straight than I do any other group.
Well none of them were in charge of that lame election night party.
If 2:30 comes and no rally, it will feel like root canal.
Baddumbum
I would add Dope (jg)
GOOG employees to recive hooopjas as compensation going forward as they now have a "2" handle on their underwater options
Video comment- Haines on mushrooms..
If they treated us like magic mushrooms we could all have ponies and as much money as we could conjure....at least for 8 hours..
It's the pain prior to the root canal. The actual root canal procedure is as painlessly boring as a colonoscopy.
Comrade Kristina-
Here might be your "clink, clank, clink, clank..."
All you socialist liberals standing there waiting for a hand out. You people are monsters.
Ah yes, the Strum Abteilung/Ernst Rohm theory of Republicanism. Of course if they came out and voted for Pelosi, it'd be a civil rights issue.
Sperm Shack writes:
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
"Boring" was an interesting choice of adjectives to use in describing a colonoscopy...
sperm shack - take your anger & rascim out on the Koz kids...
CR today
Zzzzzzzzz
Call me a monster again and again and again you hot Sperm Shack you
New thread.
racism=the cry of a dumb liberal with no intellectual retort.
"hey bring new food, new approaches, and a chance to offend a world that prides itself on being so high-minded that it won't let foreigners anywhere near their country."
As the food goes, so goes the country; I'm only half-jesting.
A couple of the pizza-by-the-slice places around here now put bottles of El Tapatio taco sauce on the counter alongside the shakers of grated cheese and garlic salt. Why not? Most of the cooks are Latino, and half the lunch rush. And it's good.
Walked into an old-school local donut shop yesterday and found apple chimichangas in the display case next to the old-fashioneds and raised-glazed. It's apple-pie filling rolled up in a flour tortilla, deep-fried, and covered with sugar, and it's goo-ood.
Make me shout RACISM from the top of my lungs SS do it DO IT you stud
2:30=tooth hurty
sorry
Kona writes:
CR today
Zzzzzzzzz
We have ponies! A hooker! Drugs! Trolls! Pissed off foreigners looking for compensation!
What more could you possibly want?
Socialist Liberal writes:
Make me shout RACISM from the top of my lungs SS do it DO IT you stud
The troll is touching itself. Kinky.
MS writes:
"I speak of shorting the euro...DRR
Been in it since low 40's."
Congrats on good move! Do you have target? I am looking to hedge large US$ cash position, and interested in alternatives and entry points.
Many thanks for your reply,
"I am looking to hedge large US$ cash position, and interested in alternatives and entry points."
I've been using UDN, although it has not worked out as well as I had hoped, so far. Still it has held it's value better than some of my longs.
If anyone knows of any dis-advantages to this, I'd appreciate knowing your views.
CR's data and credit indicators are certainly the best, but what are some Risk Perception meters that are keeping borrowers away in droves? How about what hard money commercial loan rates and terms have done in the last 3 years? Things getting better there too? No?
These indicators are missing something. Take a look at treasury rates, in particular the IRX. Huge demand still for treasuries so there is still massive panic in the air that these indicators CR is showing is somehow missing.
"Here here. The absolute saving grace, and I mean grace, is American diversity. "
Yeah, that was the success story of Japan and Korea. Diversity! Maybe NOT!
No, you cannot outrun (mostly) a black man but you as white man might outsmart (mostly) him, that is the fact and further Asian man might (mostly) outsmart you the big white man but lose with the competition with penis size but (again) YOU would (mostly) lose with the size.
Why is the Africa, the richest continent of the world, so poor?
3 words: Guns, Germs and Steel.
jared Diamond
srs red hot
Hilipatihippa writes:
No, you cannot outrun (mostly) a black man but you as white man might outsmart (mostly) him, that is the fact and further Asian man might (mostly) outsmart you the big white man but lose with the competition with penis size but (again) YOU would (mostly) lose with the size.
Bluster all you want, we still stole your wallet. An Asian came up with the plan, a black dude grabbed it and an Arab and a Mexican had a knife fight to see who could pawn it for the most. Then we all had a big dinner of Indian foo and laughed about what a sucker you are. Welcome to America.
"Then we all had a big dinner of Indian foo and laughed about what a sucker you are. Welcome to America."
Yeah. Heard that story so many times before. But when comes to engineering, any kind of engineering, software, auto, hardware, bridge building or even dildo frequency orgasm analyzer, the last thing I would do is to hire an Anglo Engineer. You just....what is the word....black hole and something do with SUCKING!
"So by now you Anglos actually have figured out you are pretty much FRIGGIN USELESS CRAP OF THE HUMAN RACE? BARREL BOTTOM FILTH! Especially that friggin little island called "Great" Britain. "
You sound terribly overexcited. Sit down and have a soothing cup of tea.
"You sound terribly overexcited. Sit down and have a soothing cup of tea."
I did that, I even watch Heroes Season 3 even, three sessions with Mohander cool. But still I got this superpower of KILLING OF ALL STUPID ANGLOS WITHIN 500 YARDS!
No! I did the calculation twice. You just suck.
ok, upload me!
What is the problem up?
yeah!
Es geht ein Bismarck grew. und das war das...
No idea