Nemo, I was expecting a little may change in the wording. Not much. They took out the deflation concern ... but kept the phrasing for the extended period of low rates.
CR.....Thnx for the hard work and diligence, etc., etc..............you provide a service unavailable anywhere. Keep up the good work, I've learned a ton - and haven't pissed off too many.
"Rare 1948 Tucker Sedan, one of only 51 made, this car is vehicle #41, used in the 1988 movie: ''Tucker, The Man and His Dream'', yellow paint, engine modified for use with gasoline, comes with extra engine on palette and Tucker memorabelia, originally in the Sutro collection"
I think they are saying that the house has stopped burning and is just smoldering now, but we have the hose ready in case it flames up again. And we don't think anyone will be rebuilding the house for an extended period of time. Have a nice day.
BB knows all, he knows he has defeated the deflation monster.
sarcasm off. i was totally expecting him to step up QE. though maybe it is as someone said before - they will, but not as directly. rather than take on govt debt, which is very visible, they will continue to take on private debt, which looks so much more innocent, but is much more harmful.
i expect TALF to be extended to all sorts of CMBS now. all those programs should step up.
the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term.
You know someone's honest when they speak and write in precise and concise language.
The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures, and the Committee expects that inflation will remain subdued for some time.
Not if you keep providing people with incentive to hoard real assets.
"hey ghostface, i wasnt trying to be an ass....on the contrary, of all the inflationistas, i think your arguments are the most persuasive"
wasn't taken that way at all. no worries.
i myself am very surprised at the lack of mention of deflation (or however BB worded it). like I said, probably the best call (made by someone here) is he will engage in QE by a thousand cuts, by monetizing private debt.
"..........the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability."
......geeze - let me retch. Lets all gain some "closure", from the "strong medicine" having to been employed by the Central Bank, in their quest for truth, justice, and the American way. Deja vu all over again. Blah, blah, blah, blah, blah....[sticking finger down own throat]
Bizarro markets. Why is the Nasdaq & IYR up so much? Investors have long ago left the building -- all that's left are a bunch of computers trading, and rampant manipulation. Good stuff!
The fed statement was exactly as expected. Attempt to combat inflation expectations at the same time as convincing investors that deflation is off the table. They're backed into the corner and all they have left is to maintain their current path. They're walking a razor's edge, and they'll fall soon enough -- I'm still leaning towards deflation, default, and then currency crisis.
If there is improvement then show your confidence and set a real rate goal at .25 or .5%
This statement, as expected, says that we will continue to give free money to the banks so they can trade their foul assets and bury the losses. CITI will continue to drag down everyone associated with them (and they are not alone) and they will have an unfair advantage against more stable companies.
Bernanke staked his career and reputation on reading the history of the Depression and now he has to put his money where his mouth is. But really, is setting a real rate at .25% going to change anything? Of course not! So, why not note the improvement in the economy and set a real interest rate to back it up. When the Fed speaks people (used to) listen so use this as a bully pulpit and make people feel good.
The probable reality is that they also feel there is no coming out of the depression in the short term. We will have a long slow growth and should get the Dow back to where it used to be about ten years from now. in the meantime, wages will stagnate and employment will continue to be depressed. It is much easier to say, "the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability," than it is to acknowledge that the economy will suffer for a long time.
Gavshire, agreed. This proves to me they don't have the mettle to do what it takes to inflate their way out of this mess. The downward spiral shall continue, with intermittent impotent efforts at propping up various asset markets.
"Gavshire, agreed. This proves to me they don't have the mettle to do what it takes to inflate their way out of this mess. The downward spiral shall continue, with intermittent impotent efforts at propping up various asset markets."
I am starting to think that all these attacks on the Fed are starting to hit home. HR1207, BofA/Merrill, etc. They are trying to back away from the limelight a bit.
In other news.. another fiscal conservative goes down... So he cannot run a state, is prone to moral posturing, calls himself a fiscal conservative.. and runs away from his wife.
ghostfaceinvestah (profile) wrote on Wed, 6/24/2009 - 1:45 pm
I am starting to think that all these attacks on the Fed are starting to hit home. HR1207, BofA/Merrill, etc. They are trying to back away from the limelight a bit.
A pawn will need to be sacrificed. Or perhaps even a minor piece.
Reporting from Sacramento -- The state controller announced this morning that he will have to begin issuing IOUs next week if California lawmakers and Gov. Arnold Schwarzenegger don't settle on a solution to the $24-billion deficit.
Among those who could receive IOUs are county social service agencies, private contractors, state vendors and Californians entitled to income and corporate tax refunds.
Resistance to the downside has already begun, and the funny money is beginning to flow. I see the tell-tale signs that one of those miraculous "recoveries" is about to begin. You know, the "market" heading off a cliff after an FOMC announcement, and then out of the woodwork, "investors" decide all of a sudden that the "market" is a "bargain," and they "buy" through the close.
//The state controller announced this morning that he will have to begin issuing IOUs next week if California lawmakers and Gov. Arnold Schwarzenegger don't settle on a solution to the $24-billion deficit.//
and sanford wants to be president?..off to a stellar start when you compare him to the past ones. The GOP is just killing itself each and every day. At least the affairs are with women now.....
“It’s almost like appraisers are interfering with the market,” Saragosa, owner of World Showcase Realty in Shelby Township, a Detroit suburb, said in an interview.
Possibly but I think it's time for another engineered failure or two. They have a line item in this year's budget for another $750b handout to the banks. All they need now is the political strength to hand it out. Create another situation where it HAS to be done or....
From your comment: NASDAQ is pumped because they seem to be the only sector that actually has cash.
Well, they are also the only companies left in America that actually create anything useful.
I was betting that you fell victim to the tech-world bias. Note that MSFT has the largest hoard of cash, but ironically produces a system so useless that smart technical folks do technical backflips in order to avoid using it. Furthermore, Linux (not a company and generating no cash) is eminently useful. Quite a metaphor for the US at the moment, don't you think?
In fairness: CSCO has a wad of cash and produces useful stuff, so I shouldn't be so snarkastic.
Lucifer (profile) wrote on Wed, 6/24/2009 - 1:54 pm
Ya.. underage boys and gay escorts are a careeerkiller for politicians.
// At least the affairs are with women now//
The psychic sacrifices necessary for ruling the rest of us and controlling the world are high, but a few among these noble folks are willing to make them. Now the deeper question - which came first, the behavioral indulgence or the pursuit of power?
....I am SO tired of politicians not being able to keep their "BIDNESS" in their pants. Crimany sakes!
I'm with pavel on this, - I believe our society is circling the toilet bowl. Morals and ethics have not been taught, have been compromised, or have been totally overlooked in personal situations - manifesting itself into the business world and politics. The temptations of power and money affect many and destroy many more.
I've been reading about Wiemar the past couple of days. What impresses me is how the government intentionally embarked on a plan of big spending (military in this case) funded by borrowing as opposed to taxation. That aspect was emphasized over and over again - no taxes, only borrowing and printing. Britain, on the other hand, raised funds by taxing wartime profits.
It's interesting to me how similar US policy is to Wiemar in this instance.
Black Star Ranch (profile) wrote on Wed, 6/24/2009 - 2:00 pm
I'm with pavel on this, - I believe our society is circling the toilet bowl. Morals and ethics have not been taught, have been compromised, or have been totally overlooked in personal situations - manifesting itself into the business world and politics. The temptations of power and money affect many and destroy many more.
The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures, and the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability.
Does the Gov's mansion have a doghouse? Show of hands who here would like to see his wife kicking his a$$ out the front door live on CNN, and telling him never to come back.
SPY/SPX... dead-cat bounce from 200 DMA, up to the 30 DMA, then... drop the hammer - not even a stop at the 200! I can't believe people make a living doing this.
Another thing to note is that there is a lag between money creation and inflation. At first, internal prices increased slowly. However, once inflation took hold in Weimar Germany, it took on a life of its own- especially with the help of currency speculators. The dollar appears to be headed for a similar fate.
burnside (profile) wrote on Wed, 6/24/2009 - 2:08 pm
Black Star Ranch -
We learn primarily by example.
Most of our examples are non-indigenous and serve the profit motive of their creators. Luckily there is such a thing as an honest truth and a fair game. But there is no such thing as an honest lie or a fair scam. As Pilate said, "What is truth?"
Used to be it was mainly Dem office-holders who had the sex scandals. Republicans in office and in the administration were these square, balding guys who served the interests of big business but never got caught with their pants down.
But these last years more of them are tall and learn with bouffed hair (male or female) and -- it seems -- their pants fall to their ankles in any light breeze.
Bob Dobbs (homepage, profile) wrote on Wed, 6/24/2009 - 2:21 pm
But these last years more of them are tall and learn with bouffed hair (male or female) and -- it seems -- their pants fall to their ankles in any light breeze.
We elect political whores; why would anyone expect their personal conduct to be any different than their professional dealings?
Boy the Fed just doesn't have the juice it usedta, I recall the way Benny jammed the market with his pre-open discount window announcement back in August of '07...
Let's see.......'household spending stabilizing' = John & Mary living on a tight-a*& budget; ' businesses cutting on fixed investment-making progress by bringing inventory into align... = buying less -selling less & killing their employees in the process; more policy actions to stabilize = more handouts; stable economic growth = slow and steady will win the race, but not until all the opportunists have pillaged the handouts; inflation subdued = oxymoron!
Clinton, I always counted his real shortcoming as being a piker. The most powerful man in the world, and he's busted over a pudgy intern who doesn't even swallow? Christ, fire up Air Force I, let's get the man a plane load of real professionals from the Berlin clubs.
Wow, that was even more of a non-statement than usual.
no more mention of deflation.
sorry, deflationists.
Nemo, I was expecting a little may change in the wording. Not much. They took out the deflation concern ... but kept the phrasing for the extended period of low rates.
best wishes
i guess everything is alright.
Summary: "We aren't changing anything, but we will if we feel like it."
Two days it took to come up with that?
"deflation no longer a concern"
What a fu*king joke....deflation no longer a concern....please!
TBT likes this statement. It must say something.
Underwhelming.
no more mention of deflation.
sorry, deflationists.
yea, because we know what a kick ass forecaster he is......
CR.....Thnx for the hard work and diligence, etc., etc..............you provide a service unavailable anywhere. Keep up the good work, I've learned a ton - and haven't pissed off too many.
I thought I had a double, FedBurger
yea, because we know what a kick ass forecaster he is......
These statements are not forecasts, they're attempts to influence expectations.
Yeah I guess. They are trying to telegraph that (1) they will keep rates low for a long time but (2) they are not worried about deflation.
(1) translates as "please buy short-term bonds".
(2) translates as "please buy long-term bonds".
"Thank you."
Utterly O/T for MP and Deflationary Jane:
In a thread yesterday you mentioned "Tucker" (presume you mean the movie "Tucker: A Man and his Drean")
Think you'll enjoy this:
Clars Auction Gallery
"Rare 1948 Tucker Sedan, one of only 51 made, this car is vehicle #41, used in the 1988 movie: ''Tucker, The Man and His Dream'', yellow paint, engine modified for use with gasoline, comes with extra engine on palette and Tucker memorabelia, originally in the Sutro collection"
I think they are saying that the house has stopped burning and is just smoldering now, but we have the hose ready in case it flames up again. And we don't think anyone will be rebuilding the house for an extended period of time. Have a nice day.
BB knows all, he knows he has defeated the deflation monster.
sarcasm off. i was totally expecting him to step up QE. though maybe it is as someone said before - they will, but not as directly. rather than take on govt debt, which is very visible, they will continue to take on private debt, which looks so much more innocent, but is much more harmful.
i expect TALF to be extended to all sorts of CMBS now. all those programs should step up.
"We are going to print lots of money but not allow inflation."
the Fed needs to print a bunch of credit worthy borrowers.
I forgot my glasses; can you read this for me?
Jan 2009- The statewide adult illiteracy rate in South Carolina was 14.7 percent.
hey ghostface, i wasnt trying to be an ass....on the contrary, of all the inflationistas, i think your arguments are the most persuasive
just sayin.
The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures,
Great, the Fed feels the necessity to front run the futures markets as well. Is there nothing this organization cannot do?
Question: If we do see deflation which of the members promised to resign?
Neither stocks nor bonds are pleased. Even a hint at taking away the punch bowl will induce hangovers.
i am not sure the wisdom of continuing to buy MBS but not supporting the underlying curve (treasuries).
if you have a mortgage refi that is in the money, lock it now, rates are only going up from here.
Wall St must teach BB a lesson ... don't take away our ponies!
the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term.
You know someone's honest when they speak and write in precise and concise language.
Are we now starting down the second dip of the 'W'? It feels that way to me.
Geebuss if this is not Deflation I would hate to see what actual deflation looks like....
"The statewide adult illiteracy rate in South Carolina was 14.7 percent. "
The south will rise again!
The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures, and the Committee expects that inflation will remain subdued for some time.
Not if you keep providing people with incentive to hoard real assets.
Who would put money to work in the stock market after the FED tells us the economy is going to suck for an extended period?
"hey ghostface, i wasnt trying to be an ass....on the contrary, of all the inflationistas, i think your arguments are the most persuasive"
wasn't taken that way at all. no worries.
i myself am very surprised at the lack of mention of deflation (or however BB worded it). like I said, probably the best call (made by someone here) is he will engage in QE by a thousand cuts, by monetizing private debt.
"Question: If we do see deflation which of the members promised to resign?"
The ones that actually admit that it's happening.
"..........the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability."
......geeze - let me retch. Lets all gain some "closure", from the "strong medicine" having to been employed by the Central Bank, in their quest for truth, justice, and the American way. Deja vu all over again. Blah, blah, blah, blah, blah....[sticking finger down own throat]
Nobody resigns.
In this economy? Where would you find another job?
bloomber breaking sanford paologizes to wife for infidelity
"..........the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability."
If they hadn't "employed" those "tools" in 1998 and again in 2001 wouldn't have nearly the problems we have today.
"..........the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability."
like these tools? i expect a lot more of these.
http://2.bp.blogspot.com/_FM71j6-VkNE/SdtlA4Xh6-I/AAAAAAAABuA/Ni6uhIIQCFY/s1600-h/bailout1.jpg
Bizarro markets. Why is the Nasdaq & IYR up so much? Investors have long ago left the building -- all that's left are a bunch of computers trading, and rampant manipulation. Good stuff!
The fed statement was exactly as expected. Attempt to combat inflation expectations at the same time as convincing investors that deflation is off the table. They're backed into the corner and all they have left is to maintain their current path. They're walking a razor's edge, and they'll fall soon enough -- I'm still leaning towards deflation, default, and then currency crisis.
It's time for those in congress who have NOT had affairs to apologize.
"..........the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability."
More Vibratory tools I see.
"Sanford apologizes to wife for infidelity"
UhOh....taking the mistress to Buenos Aires and not the wife - TRUBLE!
If there is improvement then show your confidence and set a real rate goal at .25 or .5%
This statement, as expected, says that we will continue to give free money to the banks so they can trade their foul assets and bury the losses. CITI will continue to drag down everyone associated with them (and they are not alone) and they will have an unfair advantage against more stable companies.
Bernanke staked his career and reputation on reading the history of the Depression and now he has to put his money where his mouth is. But really, is setting a real rate at .25% going to change anything? Of course not! So, why not note the improvement in the economy and set a real interest rate to back it up. When the Fed speaks people (used to) listen so use this as a bully pulpit and make people feel good.
The probable reality is that they also feel there is no coming out of the depression in the short term. We will have a long slow growth and should get the Dow back to where it used to be about ten years from now. in the meantime, wages will stagnate and employment will continue to be depressed. It is much easier to say, "the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability," than it is to acknowledge that the economy will suffer for a long time.
@ Reflation.
Sanford nailin' Palin?
both of my parents would probably fall within the 14.7%. Hasn't hurt them a bit, because they have far more common sense than most people.
sanford admitting an affair, male or female?
scalped some SPY calls (SWGGN) just before this "announcement". plowed it into puts (SZCSH) will let them sit for now.
Ciao
MS
Gavshire, agreed. This proves to me they don't have the mettle to do what it takes to inflate their way out of this mess. The downward spiral shall continue, with intermittent impotent efforts at propping up various asset markets.
NASDAQ is pumped because they seem to be the only sector that actually has cash. Stupid rationale but it's what I've heard more than a few times.
Ciao
MS
Sanford with some argentinian lady
MS --
NASDAQ is pumped because they seem to be the only sector that actually has cash.
Well, they are also the only companies left in America that actually create anything useful.
Well, they are also the only companies left in America that actually create anything useful.
You must be posting from a Linux machine.
"Gavshire, agreed. This proves to me they don't have the mettle to do what it takes to inflate their way out of this mess. The downward spiral shall continue, with intermittent impotent efforts at propping up various asset markets."
I am starting to think that all these attacks on the Fed are starting to hit home. HR1207, BofA/Merrill, etc. They are trying to back away from the limelight a bit.
In other news.. another fiscal conservative goes down... So he cannot run a state, is prone to moral posturing, calls himself a fiscal conservative.. and runs away from his wife.
Governor Sanford Admits Affair, to Quit as Republican Group Head
Governor Sanford Admits Affair, to Quit as Republican Group Head - Bloomberg.com
By Jonathan Salant
ghostfaceinvestah (profile) wrote on Wed, 6/24/2009 - 1:45 pm
I am starting to think that all these attacks on the Fed are starting to hit home. HR1207, BofA/Merrill, etc. They are trying to back away from the limelight a bit.
A pawn will need to be sacrificed. Or perhaps even a minor piece.
Hmm.... seems like the 10 year's got something going on...
The next shoe to drop, social safety nets tearing..... I hope the FED's extended period of economic weakness isn't too long.
Nearly 5,000 in N.C. will lose unemployment benefits :: WRAL.com
speculators trying to front-run the Fed bailing out.
nemo-
fair point....arguable but nevertheless fair.
Ciao
MS
JP --
You must be posting from a Linux machine.
I would be if I were at home... At work they put Windoze on our desktops.
(But of course I spend all of my time logged in to Linux machines.)
How did you guess?
They were always kept in disrepair..
//The next shoe to drop, social safety nets tearing//
"argentinian lady"
You use the word 'lady' rather loosely. We already know he's no gentleman.
A scary thought.. but very true!
//Well, they are also the only companies left in America that actually create anything useful.//
Reporting from Sacramento -- The state controller announced this morning that he will have to begin issuing IOUs next week if California lawmakers and Gov. Arnold Schwarzenegger don't settle on a solution to the $24-billion deficit.
Among those who could receive IOUs are county social service agencies, private contractors, state vendors and Californians entitled to income and corporate tax refunds.
Be very careful.
Resistance to the downside has already begun, and the funny money is beginning to flow. I see the tell-tale signs that one of those miraculous "recoveries" is about to begin. You know, the "market" heading off a cliff after an FOMC announcement, and then out of the woodwork, "investors" decide all of a sudden that the "market" is a "bargain," and they "buy" through the close.
It's about as flagrant and fraudulent as it gets.
Weimar Germany tried that...
//The state controller announced this morning that he will have to begin issuing IOUs next week if California lawmakers and Gov. Arnold Schwarzenegger don't settle on a solution to the $24-billion deficit.//
and sanford wants to be president?..off to a stellar start when you compare him to the past ones. The GOP is just killing itself each and every day. At least the affairs are with women now.....
Ciao
MS
LOL!!! The Fun Yun is really making a case here
Home-Price Recovery May Be Undermined by Appraisals
Home-Price Recovery May Be Undermined by Appraisals (Update2) - Bloomberg.com
“It’s almost like appraisers are interfering with the market,” Saragosa, owner of World Showcase Realty in Shelby Township, a Detroit suburb, said in an interview.
Ya.. underage boys and gay escorts are a careeerkiller for politicians.
// At least the affairs are with women now//
shill-
Possibly but I think it's time for another engineered failure or two. They have a line item in this year's budget for another $750b handout to the banks. All they need now is the political strength to hand it out. Create another situation where it HAS to be done or....
Ciao
MS
" ghostfaceinvestah (profile) wrote on Wed, 6/24/2009 - 2:21 pm
no more mention of deflation.
sorry, deflationists."
Right; they're now calling for negative inflation;-)
and we just HAVE to give the FED more power. That's not going to happen easily unless the conditions they produce warrant it.
Ciao
MS
No wonder Stanford said he didn't need any stimulus.
Not totally OT:
Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet - CNBC
"Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet"
How did you guess?
From your comment: NASDAQ is pumped because they seem to be the only sector that actually has cash.
Well, they are also the only companies left in America that actually create anything useful.
I was betting that you fell victim to the tech-world bias. Note that MSFT has the largest hoard of cash, but ironically produces a system so useless that smart technical folks do technical backflips in order to avoid using it. Furthermore, Linux (not a company and generating no cash) is eminently useful. Quite a metaphor for the US at the moment, don't you think?
In fairness: CSCO has a wad of cash and produces useful stuff, so I shouldn't be so snarkastic.
Lucifer (profile) wrote on Wed, 6/24/2009 - 1:54 pm
Ya.. underage boys and gay escorts are a careeerkiller for politicians.
// At least the affairs are with women now//
The psychic sacrifices necessary for ruling the rest of us and controlling the world are high, but a few among these noble folks are willing to make them. Now the deeper question - which came first, the behavioral indulgence or the pursuit of power?
iceman +1
....I am SO tired of politicians not being able to keep their "BIDNESS" in their pants. Crimany sakes!
I'm with pavel on this, - I believe our society is circling the toilet bowl. Morals and ethics have not been taught, have been compromised, or have been totally overlooked in personal situations - manifesting itself into the business world and politics. The temptations of power and money affect many and destroy many more.
There is no correction for this.
Not only did Gov. Sanford have an affair, he outsourced it.
Weimar Germany tried that...
I've been reading about Wiemar the past couple of days. What impresses me is how the government intentionally embarked on a plan of big spending (military in this case) funded by borrowing as opposed to taxation. That aspect was emphasized over and over again - no taxes, only borrowing and printing. Britain, on the other hand, raised funds by taxing wartime profits.
It's interesting to me how similar US policy is to Wiemar in this instance.
And yet the Governor can type Argentina with one hand . . .
Fannie, Freddie asked to relax condo loan rules: report
| Reuters
I always feel disturbed by headlines with Barney Frank, Freddie, and fannie in them! I guess I have a dirty mind;-)
Can Ben spell hubris?
does anyone know what 'for an extended period' translates to in normal speak? are we looking at months, years, or decades?
Black Star Ranch (profile) wrote on Wed, 6/24/2009 - 2:00 pm
I'm with pavel on this, - I believe our society is circling the toilet bowl. Morals and ethics have not been taught, have been compromised, or have been totally overlooked in personal situations - manifesting itself into the business world and politics. The temptations of power and money affect many and destroy many more.
There is no correction for this.
The system will continue until it stops.
The Nasdaq argument seems week when the Russel 2K continues to correlate...just more hot money rotating...games will continue until credit is gone
I always feel disturbed by headlines with Barney Frank, Freddie, and fannie in them! I guess I have a dirty mind;-)
Well, at least we no longer have Dick, Bush and Colin to kick around.
The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures, and the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will employ all available tools to promote economic recovery and to preserve price stability.
+
We will not monetize
=
Bull market for Preparation "M".....Monetize!
Does the Gov's mansion have a doghouse? Show of hands who here would like to see his wife kicking his a$$ out the front door live on CNN, and telling him never to come back.
Black Star Ranch -
We learn primarily by example.
"Preventive war was an invention of Hitler. Frankly, I would not even listen to anyone
seriously that came and talked about such a thing."
When the people fear their government, there is tyranny; when the government fears the
people, there is liberty.
~Thomas Jefferson
hat tip to Financial Opinions Updated Daily iamned.com for the good articles
SPY/SPX... dead-cat bounce from 200 DMA, up to the 30 DMA, then... drop the hammer - not even a stop at the 200! I can't believe people make a living doing this.
ac,
Another thing to note is that there is a lag between money creation and inflation. At first, internal prices increased slowly. However, once inflation took hold in Weimar Germany, it took on a life of its own- especially with the help of currency speculators. The dollar appears to be headed for a similar fate.
burnside (profile) wrote on Wed, 6/24/2009 - 2:08 pm
Black Star Ranch -
We learn primarily by example.
Most of our examples are non-indigenous and serve the profit motive of their creators. Luckily there is such a thing as an honest truth and a fair game. But there is no such thing as an honest lie or a fair scam. As Pilate said, "What is truth?"
Lucifer:"Ya.. underage boys and gay escorts are a careeerkiller for politicians."
But you can change careers and get a front row seat (and get picked often to ask questions) at the white house press conferences.
"I was betting that you fell victim to the tech-world bias."
Not at all...you left off the rest of the post......"stupid rationale....."
Ciao
MS
@ Uncle
Jeff Gannon - Wikipedia, the free encyclopedia
Re: Sanford and keeping his pants on.
Used to be it was mainly Dem office-holders who had the sex scandals. Republicans in office and in the administration were these square, balding guys who served the interests of big business but never got caught with their pants down.
But these last years more of them are tall and learn with bouffed hair (male or female) and -- it seems -- their pants fall to their ankles in any light breeze.
ac-
the ONLY difference between Weimar and our policies now is the simple ability to digitize money. That's the only difference I see.
Ciao
MS
The statewide illiteracy rate in the California legislature was greater than 4 standard deviations above the mean...
Bob Dobbs (homepage, profile) wrote on Wed, 6/24/2009 - 2:21 pm
But these last years more of them are tall and learn with bouffed hair (male or female) and -- it seems -- their pants fall to their ankles in any light breeze.
We elect political whores; why would anyone expect their personal conduct to be any different than their professional dealings?
Lucifer:"Ya.. underage boys and gay escorts are a careeerkiller for politicians."
Correction:
"Ya.. underage boys and gay escorts are a careeerkiller for Republican politicians."
Ref.: Barney Frank.
I will know for sure what this so called announcement really means when I take a stroll by the Gun shop this weekend...that is my true economic gauge.
Elephants and Asses
Trampling the Masses
"Ya.. underage boys and gay escorts are a careeerkiller for Republican politicians."
Ref.: Barney Frank.
It's not the act that gets ya, it's the hypocrisy.
Boy the Fed just doesn't have the juice it usedta, I recall the way Benny jammed the market with his pre-open discount window announcement back in August of '07...
+10^6
I don't think we're out of the economic Northwoods, just yet
Operation Northwoods - Wikipedia, the free encyclopedia
Agronox (profile) wrote on Wed, 6/24/2009 - 12:26 pm
"Ya.. underage boys and gay escorts are a careeerkiller for Republican politicians."
Ref.: Barney Frank.
It's not the act that gets ya, it's the hypocrisy.
Unless you are a Democrat politician.
Ref.: Bill Clinton.
Elephants and Asses
Trampling the Masses
Does it matter who steals from you, Red or Blue?
Unless you are a Democrat politician.
The ex-governors of NY and NJ didn't get free passes.
Eliot Spitzer
Jim McGreevey
Let's see.......'household spending stabilizing' = John & Mary living on a tight-a*& budget; ' businesses cutting on fixed investment-making progress by bringing inventory into align... = buying less -selling less & killing their employees in the process; more policy actions to stabilize = more handouts; stable economic growth = slow and steady will win the race, but not until all the opportunists have pillaged the handouts; inflation subdued = oxymoron!
Spitzer was dangerous to TPTB.
Clinton, I always counted his real shortcoming as being a piker. The most powerful man in the world, and he's busted over a pudgy intern who doesn't even swallow? Christ, fire up Air Force I, let's get the man a plane load of real professionals from the Berlin clubs.
@ Zack
We need a BlowJob Czar-ess!
does anyone know what 'for an extended period' translates to in normal speak? are we looking at months, years, or decades?
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yes
Come on. Where are all the green shoot refrences? Who is calling for the 2nd half recovery now?
Where will jobs and income come from?
I'm all ears.
try score of years