NY Fed's Sack on Communication
Submitted by
CalculatedRisk on Tue, 03/09/2010 - 12:38pm (257 comments)
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So wait, why are they expanding the SFP again, exactly?
don't forget the Chinese. It would be nice if they made their intentions clear.
Does that mean he's a sad Sack?
Yalt wrote:
More like a mad Sack, but fortunately, he is still a smooth sack.
.
Maybe he is tired of people attacking him when he floats his ideas out there.
I would quit my job to be Batista at Starbucks.
'to mitigate this risk by communicating clearly about its policy intentions'
In my experience, the Fed believes (rightly or wrongly) that vagueness and ambiguity are excellent risk mitigation tools. So I think this guy is talking through his hat.
HydroCabron wrote:
Jean Paul Batista?
12th Percentile wrote:
There's been some saber rattling from the Chinese of late, and they seem to be threatening to "sell US debt on the open market", but I suspect that is a face saving charade from them. We asked them to revalue their currency, and while they publicly stated that they thought the Yuan was at the right value, their actions since have been such that they will ultimately result in a devaluation of the USD. I wouldn't be surprised if this is all part of a well choreographed move on the parts of both our governments to salvage the most value that we can in the upcoming devaluation of the USD. Plan accordingly.....
nova (homepage, profile) wrote on Tue, 3/9/2010 - 4:38 pm
WV and Detroit do not share a border.
http://finance.yahoo.com/tech-ticker/buy-gold-while-supplies-last-says-fund-manager-438474.html;_ylt=AgwCU7HdSRWzfwS_6T26WZa7YWsA;_ylu=X3oDMTE2Yzg3NWdtBHBvcwMxMgRzZWMDdG9wU3RvcmllcwRzbGsDYnV5Z29sZHdoaWxl?tickers=gld,gold,fxi,gfi,uup,spy,^dji&sec=topStories&pos=9&asset=&ccode=
Heheh wrong one
The burden is on the Fed to mitigate this risk by communicating clearly about its policy intentions and the purpose of any operational moves it might take.
Nothing that an audit wouldn't cure.
What an unfortunate name.
Market action sure feels oddly familiar....
Bob Dobbs (homepage, profile) wrote (in reply to...) on Tue, 3/9/2010 - 4:42 pm (go to last page; comment 305?)
What is that SFP anyway, some kind of slush fund? Why is it Supplemental? Supplemental to what - the carnivorous devouring of currency by the federal spending?
Someone really doesn't want
to win today.
Cinco-X wrote:
Ask the residents of either location.... That would make a good segment for Jay Leno's JayWalking....
Treasury should explain it. But I believe this is to help sterilize the last $200 billion or so of MBS that will settle on the Fed's balance sheet over the next couple of months.
best wishes
ShadowInventory wrote:
I doubt Jay want to walk around WV, and I'm nearly certain he doesn't want to walk around Detroit....
Comrade Janošik wrote:
How so?
Cinco-X wrote:
And he should clearly communicate how the taxpayers are getting screwed by each decision.
Found this with a quick Google search - Read it twice, still dont really understand it.. money going in circles somehow saves the day...
Econbrowser: Balance sheet of the Federal Reserve
Cinco-X wrote:
The last positive financial innovation was the introduction of double-entry bookkeeping.
The burden is on the Fed to mitigate this risk by communicating clearly about its policy intentions and the purpose of any operational moves it might take.
Then there should be no problem naming who got the $400b that went to European banks.
And there is the problem in a nutshell. The Fed and Treasury both rely upon being believed and trusted to do their job. Both have been squandering that trust in large part with actions exceeding mandates and it has made their real jobs harder. Tough, either go back to doing your jobs or live with the skepticism.
noob goldberg wrote:
HFT runs up the market on light volumes, selloff into the second half of the day, big whack of orders at the close to end the day just in the green...
They all seem so worried about saying the wrong thing at the wrong time and spooking the markets, you'd think they have nothing else to worry about.
Oh, wait...
Last night, the guest on Jon Stewart was Harry Markopolos, the guy who tried to blow the whistle on Madoff but the SEC wouldn't listen. Sounds like the same issues across the board - people in charge paid not to understand what's going on so that the party can continue one more day.
Great interview - Markopolos doesn't pull his punches one bit. Though I do disagree with him on some points - the problem isn't that the SEC is full of lawyers, it's the particular lawyers who are charge that's the issue.
Video: Harry Markopolos | The Daily Show | Comedy Central
Here is a man with answers:
Glenn Beck Urges Listeners to Leave Churches That Preach Social Justice -- Politics Daily
"Brian Sack argued the burden is on the Fed to communicate clearly and explain the reasons behind each action. I agree. And I'd suggest the burden is also on Treasury. "
Ah yes let the Politburo explain their central planing actions to the unwashed masses...
HydroCabron wrote:
positive for who?
it looks outdated to me.
Ah yes let the Politburo explain their central planing actions to the unwashed masses...
"Shut up!" they explained.
energyecon wrote:
Indeed, and it's been this way for a few months now.
energyecon wrote:
How'd you guess
This market is going to have more and more trouble if volume picks up....bring on the recovery.
broward wrote:
I'm kinda partial to double book entry personally.
noob goldberg wrote:
I wonder how many of those same fair weather friends want to ride the market down once more.
I'm kinda partial to double book entry personally.
Yeah, but with one set of books.
he believes were misunderstood.
Hhmm. I guess the markets must have finished down .0000001% those days.
energyecon wrote:
The run up was different today though--usually we see one or more step functions, but today we had a steady ramp. Quite astonishingly steady in fact--look at a one-minute daily chart of the NASDAQ for today.
Comrade Janošik wrote:
The exits are even smaller than in 2008/2009, for whenever someone yells "FIRE".
BTW, I just saw that awesome tile, yagij!
noob goldberg wrote:
The exits are even smaller than in 2008/2009, for whenever someone yells "FIRE".
Never yell FIRE in a crowd-led boom.
ResistanceIsFeudal wrote:
or to a firing squad.
noob goldberg wrote:
All the more reason to be out of the market already-
Both have been squandering that trust in large part with actions exceeding mandates and it has made their real jobs harder.
You can toss Bloomberg's FOIA log on that pyre as well
Remember the little boy that cried WOLF to many times.
A coworker just asked my advice about BK. It is just CC debt. I told her to call them up and see what they would accept.
If you want to know what is really going on at work make friends with the receptionist. The amount of collection calls they transfer is surprising.
Greece wants speculative curbs, U.S. has own plan - Yahoo! Finance
Here's a more general question about stock/bond/commodities speculative traders. Presumably, these folks help provide liquidity to the market. If we constrain them so that they decide to take their capital elsewhere, doesn't that rob the market of liquidity, and force prices down more so that simple shorting would do, the difference being that pulling capital out of a particular market tends to suppress the entire market, whereas shorting typically affect just one stock, or one currency, etc.?
Have I misinterpreted the machinations of the markets?
I know I'm behind on news and info today. Please indulge me one moment as I'm still digesting the black-ball of US investment banks by the EU.
This leaves me with so much to ponder!
Ok Carry on, probably already been discussed. But if anyone has thoughts...they are most welcome because this is fascinating and I'm just a little ole nobody watching..waiting..watching...waiting.
Whats next for global banks - McKinsey Quarterly - Financial Services - Banking
China says committed to U.S. debt, wary on gold
| Reuters
Did we break the comments?
Rob Dawg wrote:
How about what is in Maiden Lane I, II, III...
I was waiting for you to post again
eye of the hurricane?
pavel.chichikov wrote:
LOL! Did Glenn Beck say whether he believes, or does not believe, in global warming?
The Scandinavian-Welfare Myth Revisited - Markus Bergstrom - Mises Institute
ghostfaceinvestah wrote:
YouTube - The Monkees - I`m a Believer
Cinco-X wrote:
His other choices are tariffs or revised work week.
I can imagine how popular those would be.
REUTERS BREAKINGVIEWS; The Dark Side of Home Subsidies - NY Times
"It’s a tiny part of their operations for now. But if the housing market doesn’t turn around soon, the companies could find themselves reluctantly managing more properties. And no one expected, or wanted, Fannie and Freddie to become giant public-sector landlords."
Not sure that is true, I suspect someone in power does want Fannie and Freddie to become giant landlords.
Cinco-X wrote:
genetic diversity or lack thereof.
I believe there's a reference to this in -
Amazon.com: Cultures and Organizations: Software of the Mind (9780071439596): Geert Hofstede, Gert Jan Hofstede, Geert Hofstede: Books
Converted Mormon bashing Catholicism.
broward wrote:
You're quoting Markus Bergstrom, not me.....
broward wrote:
You're quoting Markus Bergstrom, not me.....
Cinco-X wrote:
Really? Any cost?
And since the first phrase is so broken, why would anyone continue reading?
Did Glenn Beck say whether he believes, or does not believe, in global warming?
I don't watch his program, but it's very unlikely that he believes in global warming.
Cinco-X wrote:
I doubt if anyone cares except the Federal agents on your trail.
pavel.chichikov wrote:
This was discussed a couple of days back--the short answer is that it depends on who he's speaking to.
This should not be a surprise.
A coworker just asked my advice about BK. It is just CC debt. I told her to call them up and see what they would accept.
No no no. I just got Citizen AllenM's dvd. First you call them with YOUR demands.
1) cut interest rate to 1%
2) mininum balance due 1%
3) 5% cash back on ALL purchases
Then if the bank accepts you will continue to make payments allowing the bank to keep the debt at par for the all important bonus season.
That was Bush II, first it was Afghanistan & Bin-Laden, then it was Iraq. He seems to have done ok out of it. Got at least 2 pensions and free health care for life in addition to (apparently) profiting from going on the lecture circuit.
"This was discussed a couple of days back--the short answer is that it depends on who he's speaking to.
This should not be a surprise. "
Is that real?
It sure would surprise me. I seem to have learned less about human nature than I supposed.
I am flattered. I guess the E-book is next.
Right now my creditors don't like me very much. But my employer has just sent an email stating 2.75% paycuts and furlough.
So, in the spirit of fair play, my creditors will feel the pain too. After all, I am just sharing what the government is handing out.
Someday this war's gonna end...
Nanoo-Nanoo wrote:
The Church used to charge for these indulgences I gather, but I think the CR crew dispenses them for free. Sorry I cannot add anything, and I do not think it has been discussed here in much detail since it seems to be late breaking here in Europe. I think there is a move on to try to cut Wall Street out of these dealings in Europe, but I do not think it is yet official or officially announced. I wonder how effective it might be and have my doubts.
pavel.chichikov wrote:
Don’t judge Beck by his cover | USA WEEKEND Magazine | usaweekend.com
"He believes in global warming
“You’d be an idiot not to notice the temperature change,” he says. He also says there’s a legit case that global warming has, at least in part, been caused by mankind. He has tried to do his part by buying a home with a “green” design and using energy-saving products. “I’m willing to do anything but use the CFLs,” he says of compact fluorescent light bulbs. “I put them in once and couldn’t stand the way they lit up the room.”"
JP wrote:
You're quoting Markus Bergstrom, not me..... Note: He's Scandinavian and from Sweden, so English is probably not his first language-
Cinco-X wrote:
You're quoting Markus Bergstrom, not me..... Note: He's Scandinavian and from Sweden, so English is probably not his first language-
"expanding the US welfare state at any cost" may be the only economic option left that doesn't involve collapse or displacement of the powers that bought our government from under us. Maybe big-O read Colonel House in his university days?
ResistanceIsFeudal wrote:
Only the foolish ever look to the Fed for clear communication.
Cinco-X wrote:
The Banksters and Wall Street Whores need more?
How about Big Ag, and, of course, the ultimate welfare receivers, cattle on public land in the west.
Cowboys are the ultimate welfare receivers. I lived in Montana, and riding fence at 20 below is not fun, but it is the truth.
Of course Timber is right behind Livestock.
Thanks for the reply Haralambos. Sorta went swoosh as other stuff is going on/discussed and I am behind. EU banks are hardly innocent players in this very fine mess. I wonder if the goal though is a tighter leash can be kept if the EU regulators, central bank will watch the plays by their players instead of having to watch their players and ours too from exacerbating an already tenuous situation? Again, it may amount to nothing but even a day without play might make Lloyd B and his minions angry about being barred from one casino table (among the dozens and dozens).
adornosghost wrote:
You're quoting JP quoting Bergstrom....
President Obama: Replace Rahm with Me ...an open letter from Michael Moore | MichaelMoore.com
Michael Moore said:
ghostfaceinvestah wrote:
Only if it keeps the banks whole...
Cinco-X wrote:
WalMart must have made a call on you know Hu. No cheapee no likee.
energyecon wrote:
That's only an illusion; the money is already lost. It's only a matter of when and under what circumstances it's realized.....
OT
- NY Times
Job Openings Up Sharply in January to 2.7M
"
The economy has lost 8.4 million jobs since the recession began, the largest drop since the 1930s. The jobless rate was unchanged last month at 9.7 percent. Most economists expect the rate to remain elevated for several years.
Still, Greenhaus and other economists predict the economy will gain 200,000 to 300,000 jobs in March. That compares with the loss of 36,000 jobs that the government reported for February, though some of the reported losses last month were due to severe snowstorms.
Up to 100,000 of the net job gains expected for March will be due to government hiring for the Census, Greenhaus said.
"
Cinco-X wrote:
cinco, cinco, cinco - it is all about the allocation of the losses - by transferring them to the public the banks can be kept whole...the consequences for the republic may be a different story.
Hoocoodanode is acronymphomaniac central.
Rule number 1:
Each thread shall contain at least one new or obscure acronym.
On the last thread, it was "DH".
This thread has "SFP" and "BB" so far.
I'm on my CB, pondering how the DH being on the DL will keep the opposing pitcher's ERA in the LSD, and whether BB will do anything to allow me to purchase a NOO/REO SFH with a FRM and some FRNs.
Dude, you need a few more TLA's...
dryfly wrote:
No, Hu?
And Wen did this happen?
Isn't Michael Moore the firebrand far-left filmmaker? This will surely make a number of his friends, neighbors, and cohorts happy with the direction of his literary skillset.
Nanoo-Nanoo wrote:
I agree, but I think occasionally they can be called upon or jawboned to work for the national interest of where they are based. I remain skeptical, nonetheless.
But see this, although you already may have done:
Europe bars Wall Street banks from government bond sales |
Business |
guardian.co.uk
energyecon wrote:
broward wrote:
You lack imagination broward... could have more prisons, the Gulag after all was stimpak for the KGB.
energyecon wrote:
They've already sacrificed the economy on the altar of the banks. The republic is the next logical step.
I suggest that a pervasive national housing presence is a happy side effect of these policies. Council housing American style.
dryfly wrote:
Effectively lowers unemployment as well.......
Black Star Ranch wrote:
He was right about GM about to go down the tubes! Pretty nifty language BSR, the way I read it.
Black Star Ranch wrote:
Fidel should sign Moore onto his new 'old' regime ... he could be the "Josef Goebbels of the Caribbean."
I work for a TLA, but my part has a 4LA, and all I do is set into more TLAs.
Someday I will stop doing this, and it will all fall away like tears in the rain.
And then I will laugh some more and do something else.
Someday this war's gonna end...
I can't stand DH and DW. I've seen it used far too much in quilting, cat watching, and super conservative forums, mostly by boomers. It cropped up in the last two years, like some kind of plague.
If you want to know what is really going on at work make friends with the receptionist. The amount of collection calls they transfer is surprising.
After one of our high paid, 5 year attorneys left (at around 220k per year), we kept getting collections calls. She had bought two properties in the bay area that were underwater. She was one of those hardcore republican frontier fetishist "personal responsibility" types. Terrible bitch, perfectly manicured; she'd look at any unusual behavior, any jokes out of the norm, any kind of statement or action that wasn't the most homogenized crap as worthy of derision. I hate people like that, living boring lives but still managing to oppress anyone with a spark of spirit left by actively seeking out and castigating any creativity or deviations from the norm.
This kind of mindset came back to bite her in the end. "Of course I'm investing in real estate. Everyone is." Justification enough for her. Well, she got what everyone else got.
energyecon wrote:
u must b n oldster lik me
Black Star Ranch wrote:
He' so far left he thinks Pelosi is a Bircher. This is just his whipping up the rank and file.
Black Star Ranch wrote:
That's Mikey - and he and other lefties are madder at O than conservatives are. Similar to the angst & anger conservatives felt toward Bush... neither party listens to their supposed constituency - they only listen to their real constituency - the
...
Confused? I'm not confused.
Is anybody here confused.
It's clear as crystal. Nobody has the slightest idea what to do,
and if they do, they certainly not doing it.
Rob Dawg wrote:
No he's just realized you are right - it really is Bush's third term.
Meanwhile, while we still lean on Fannie/Freddie/FHA to fund our mortgages...
Canadian Covered Bond Market Flourishes
"The Canadian covered bond market is flourishing, even without covered bond legislation to bolster the sector.
Just yesterday, the Royal Bank of Canada (RBC) came to market with C$850 million ($828 million) in covered bonds, according to a Bloomberg report, quoting a person who is familiar with the deal.
According to the Bloomberg report, the bonds will mature in March 2015 and priced to yield 40.9 basis
points over the equivalent-maturity sovereign debt, or 3.188%, citing the same person. The bonds are rated 'AAA' and RBC served as the sole underwriter on the deal, the report said."
dryfly wrote:
Ding ding ding ... we've got a winner.
Haralambos wrote:
Thank you, yes. Therefore, the
eating and wide-eyes wondering how this Act in the Play will end.
TLA? DH? DW?
I'm back in acronym hell again.
Hoopajoops LTD wrote:
I appreciate the sarcasm implicit in the terms, especially when DH or DW have FUBARed.
lawyerliz,
DW, BH
YouTube - Bobby McFerrin - Don't Worry Be Happy
cinco,
We agree more than we disagree, my friend - wouldn't it be too boring if there wasn't some occasionally sharp disagreement!
On this one we are saying the same things, I think...
me too, no idea. We're boomers too.
Hoopajoops LTD wrote:
Hoops I do the same thing at factories - talk to the receptionists & admins as much as possible - they tell you the damnedest things if you are polite & sincere and don't rat them out to their boss [don't let their boss know where you got the dirt].
Cool, a couple of tentacles are pulled off the face of the world.
Nanoo-Nanoo wrote:
Darling/dear husband, darling/dear wife, three letter acronym
Citizen AllenM wrote:
I like your approach, CAM.
Nanoo-Nanoo wrote:
Delusional: A false belief or opinion strongly held in spite of invalidating evidence.
I can offer no better evidence then that of what I read over on Jim Sinclair’s fine blog:
“Note the attention today of the Fed’s Sack to the important concept when discussing the sale of the junk the banks stuck the Fed with and how it “should limit any uptick in interest rates from the sales.”
Today the Fed MOPEs about draining excess liquidity via reverse repos. If this was enacted it would send interest rates soaring regardless of the economic condition when initiated.
Another interesting point to consider is that if you add all the cash of all money funds together, less losses on inventory, there isn’t enough money there if you used reverse repos to drain the trillions in excess liquidity. Despite this fact, both professionals and public alike buy this illogical propaganda and run with it, making so many gold people question their commitment.”
In The News Today : Welcome To Jim Sinclair's MineSet
In light of that I’d advocate that the above piece is delusional and for clarification – I chose the psychiatric definition because in my opinion – anyone blowing up the economy like this and claiming that they are doing God’s work or saving it is a certifiably insane nut-job.
Cinco-X wrote:
plus a hitch of reserves service...
dryfly wrote:
I think dryfly is closer to the mark here - who will have more scorn and fury than the true believer who feels betrayed?
Thank you and OK, not acronyms I'll likely EVER use. I am bad about short-hand otherwise but try to keep it to those widely used here. Still I'm confounded sometimes; but, my goto is the nice toolbar that helped me greatly when I first arrived.
Hoopajoops LTD wrote:
Hmmmm. Explain again how you knew about the fetishistic part?
lawyerliz wrote:
Three Letter Acronym = TLA
Dear Wife = DW
Dear Husband = DH
Bob Dobbs wrote:
Really? I thought it was
DH - Dear Hubby
DW - Dear Wifey
BH - Butt Hole... not necessarily in that order. Ya I know familyblogfamilyblogfamilyblog....
lawyerliz wrote:
TLA = 3 letter acronym
I tried explain mortgage backed securities and the staggering losses
on the ones filled with 2nd mtges to my young intern type guy. He looked
like he couldn't believe it.
How could they qualify people for 3 big homes like that (now in foreclosure)?
They had a pulse, they had a pulse.
Disbelief.
An acronym for an acronym?
dryfly wrote:
OMG. Did you just feel that? Beelzebub selling Slushies.
RE: DW
"She who must be obeyed." - Faulty
energyecon wrote:
Yup; my last comment was on my own lack of insight on your original comment.
On a
thread someone was asking about all the census interviews but no hires, here's the deal:
They do the interviews, but enumerators don't get hired/trained until Late April/early May. A lot of folks can't wait that long. The forms go out next week, they receive them through the end of march, tabulate in April.
Wow, nanoo, wow. I must be tired, none that immediately jumped to mind.
Rob Dawg wrote:
What wuzzat Star Trek TOS episode (no peeking on Google!): "The givers of pleasure and pain"
Nanoo-Nanoo wrote:
Nanoo, the reports yesterday were that regulators there see EU banks more inclined to maintain reputation as opposed to Wall Street penchant for short-term returns. So they're presenting this as a reward to discipline.
I have no idea if they're right, but can see the principle.
.......As you know, I think we're "Effin' Hosed". No amount of mumbo-jumbo, fairy-tale voodoo magic will save THIS stagecoach from plunging over the cliff into the water below. Thank goodness I've already gotten off. I'll take my chances walking.
I have a plan.
Buy a 7 bedroom house, rent out rooms.
There is a 7 bedroom for sale for under $80,000, bet I can make a few bucks if the utiltities aren't too high.
Now I'm really confused. I thought we were to follow the
Comrade Alexei Mikhailovich wrote:
But do they count as current job openings?
energyecon wrote:
That sure is how a lot of us conservatives felt about Bush2; never a fan of Bush1 either.
Cinco-X wrote:
As someone who has lived in the West, I'm just reporting observations, and interacting with my neighbors.
energyecon wrote:
Yeah, but most of them that I know are more embarrassed than furious. They usually just avoid the subject.
dryfly wrote:
Oh good. I was worried about why designated hitters had a role earlier in the day.
Dusts settles this is more like a weight that may break a table leg.
Cinco-X wrote:
I have a BIL who is GOP down to the genetic level, and even he was completely disenchanted with Bush2 by the end...
Really, what is the big worry about "surprising" the market?
In some ideal world, the Fed telegraphs its intentions and the markets respond with a near perfect rev-matched up or down shift.
So how come these geniuses at the Fed with their regulatory authority had to rescue firms on weekends, appear with the Treasury secretary threatening imminent collapse, and implement QE & ZIRP. Did they forget these events?
The Fed is now at best a market follower. They clearly lack the political will to take the punch bowl away.
Instead of manning up and taking charge of the bank bullies they regulate, they've become one with their wimpy inadequacies.
energyecon wrote:
After eight years of listening to the other end bitch and moan it is a change I can believe in. That said I also spent those eight years practicing a surprised look and asking "You thought he was a conservative?"
OT: Schiff now on CNBC calling Citi a $0. Excelllllent.
HydroCabron wrote:
Well, what about the CW?
AccuWeather.com - Weather News | Surprising Canadian Warmth This Winter
Black Star Ranch wrote:
Are you still paying Federal Income Taxes and/or do you have children?
Get him off FNC ASAP.
Cinco-X wrote:
Exactly - my conservative friends felt the same way.
CR wrote about these supposed job gains yesterday, I think.
Cinco-X wrote:
No & yes. When they get hungry there's a garden, a couple cows, and eggs galore here. All they gotta do is work their asses off like I have been - pretty simple concept, actually.
Rob Dawg wrote:
YouTube - Mister Burns : 'Excellent!'
energyecon wrote:
Spock's Brain. too easy.
to help sterilize the last $200 billion or so of MBS that will settle on the Fed's balance sheet over the next couple of months
Do we sterilize these dollars so that they will they stop breeding and expanding the money supply?
Piece on NPR yesterday about prisioners being let out of prison
early, 'cause prisons are too expensive.
More jobs lost!!
HydroCabron wrote:
Wish I could... hook, line and sinker... [sighs]
SNAFU wrote:
Thats what pisses off people about Moore- he is almost always right.
Walter Reed? He was there first. GM? first. Bush and the looting of the country? One of the first.
It might drive the wing nuts crazy, but I don't think they are informed enough to put the facts together.
Rob Dawg wrote:
I know you knew it Dawg...
Samdog wrote:
That too - see that too.
....going thru town here, 25% of the homes are empty. 25% are like normal, and 50% are filled with MANY trailers, RVs, and even tent-dwellers........already looks third-world.
energyecon wrote:
When it's at the genetic level, it's Waaaaaaaaaay too late-
No, no--she who must be obeys is the wifie of Rumpole of the Bailey.
We need an icon for acronym.
Just a reminder that the Optimistic Bear internet radio show will be airing live tonight (Tuesday the 9th) at 9:00pm Pacific Time. We will be discussing the past week in economics and finance. Feel free to call in and share your thoughts.
Pomp & Surkanstance: Introducing the Optimistic Bear Weekly Economics and Finance
HydroCabron wrote:
Starbucks is self serve now.
Cinco-X wrote:
LOL! Yep, and he is still a great guy in addition to being family... go figure
I loved Rumpole-need more good ones like that.
Oh..n the acronym theme: gtg but I'll bbl. Cute dog and BFcalls who is actually my SO 4ever
Thanks everyone and have a good evening.
Yancey Ward wrote:
We already have an acronym for an acronym (TLA), but we don't have an icon for Ichan yet so don't you think you are getting ahead of yourself.
And besides, Citi must be destroyed.
energyecon wrote:
I didn't mean to make it sound like a bad thing
My Dad keeps trying to get me to list to Rush, et al but for me, life's just to short to be in an agitated state all the time.
Batista was Fidel's predecessor.
Doc Holiday wrote:
Starbucks is self serve now.
Poetic justice? Its patrons tend to be, especially during the height of the bubble
"She who must be obeyed" is from the book "She" by H Rider Haggard.
Cinco-X wrote:
I understand oxycotin helps suppress agitation.
lawyerliz wrote:
Did he make good coffee?
lawyerliz wrote:
.....when Cuba was a tourist attraction with gambling, booze & broads......
adornosghost wrote:
And he is not in it for the $ ; he is right about the 'ass whopping' coming in 11/2010, imho.
Thanks - I'm glad I'm not the only Rumpole stickler here.
And Basil's last name is Fawlty; otherwise "Flowery Twats" would not be an anagram for "Fawlty Towers."
dryfly wrote:
But all opiates synthetic or not cause constipation, and I'm not comfortable with that.......maybe it works for liberals
Ah, so Rumpole was quoted Haggard.
I always wanted to read She, but have never got around to it.
Did he make good coffee?
dryfly +1
I guess not 'cause Cuba--Cubans make coffee that makes sweat break out on
foreheads, literally--kicked him out.
BSR - Do you .....when Cuba was a tourist attraction with gbb
BTW where are you/were you driving through?
lawyerliz wrote:
Without Batista, no Fidel. Without the overthrow of Iran in 1953 by the CIA, no islamic state, and probably a parliamentary democracy.
Anyone see a pattern?
broward wrote:
Well that depends which side of the firing line you are on... The
sure seems to end up on the safe side a lot.
I guess that explains why Rush is so full of $hit.
fudge_hend wrote:
See, that is why I like this joint
And besides, Citi must be destroyed.
Furthermore, Citi must be destroyed
Ceterum censeo, Citigroup esse delendam
adornosghost wrote:
Did the CIA green-light Saddam's move into Kuwait? Interesting, albeit expensive, way to get a permanent military presence in the ME.
The Best Jobs In America
I'm not in this picture ... WTF?
Apologies to all for the Rumpole v. Fawlty mix up. I originally had "Dragon Lady" but decided against that, changed it to "obeyed" but didn't change the attribution.
Hoopajoops LTD wrote:
Now, be careful y'all - if Conjure gets wind of this, there will be no end of the Scrooge McDuck cartoons mp will have to run to get him calmed down again...
Doc Holiday wrote:
Me neither....
Doc Holiday wrote:
Neither was CEO of TBTF, so don't feel left out.
As a kid, I adored Scrooge McDuck. Wish I still had that pile of comics.
Cinco-X wrote:
Explains why Rush is so FOS being he's been addicted to the stuff.
Doc Holiday wrote:
I'm not in this picture ... WTF?
I love this sort of crap... "Best Jobs in America" considered solely in terms of pay. I guess talent, proclivity, or interest mean little these days unless monetized and categorized. Is it really surprising we're in the situation we are with the financiers of the world when this is what we've allowed ourselves to become?
Blackhalo wrote:
The visible part of it was Madeleine Albright.
dryfly wrote:
You're slow:
Comment by Uncle Ar from thread 'NY Fed's Sack on Communication'
Blackhalo wrote:
its permeant now, for sure.
YouTube - The Bases Are Loaded: US Permanent Military Presence in Iraq
burnside wrote:
Wasn't she having a covert affair with Ollie in Nicaragua?
http://www.cnbc.com/id/35768105
Diana Olick said:
They'd all be insolvent? Her experts must be reading CR
burnside wrote:
Wasn't that an administration or two too late?
Cinco-X wrote:
You obviously don't parse much, I am pretty sure she comments here on occaision. As does PK.
Guess who is behind the profiles was a hawt topic a while back.
Now I am just amazed I have not had more fallout from hanging on here- but that can change in an instant.
It is all truly floating on the wind.
Someday this war's gonna end...
Blackhalo wrote:
Right you are. April Glaspie, not Madeleine Albright.
Citizen AllenM wrote:
I hadn't heard that Diana Olnick reads CR, but I seriously doubt that either she or PK bother with the comments.
We need a complete tax over haul. No payroll taxes and tariffs on all manufactured goods. This would make
our unemployment problem the World's unemployment problem and I'm okay with that.
Have I said it today??? No.
Smmoooooooottttt Hawley.
energyecon wrote:
WAG says no unless the prospective hire changes their mind and tell them.
No payroll taxes and tariffs on all manufactured goods. This would make our unemployment problem the World's unemployment problem and I'm okay with that.
I doubtful. Cutting taxes hasn't historically been all that efficacious, despite propaganda otherwise. High taxes are generally evidence of a well-organized state. And despite popular acclaim, government is very good at running a lot of things.
Since the Smoot Hawley tariffs were pretty successful (the big decline in trade happened before the tariffs were put in place), so...
When you say Smoot
I say Hawlly
Smoot..
Hawley..
Smoot...
Hawley...
Smoot Hawley!!!
Doc Holiday wrote:
:brainscrub:
badger
And despite popular acclaim, government is very good at running a lot of things.
Damnit, badger, stop introducing complexity into my political theory. It's much easier to say "Free market free market free market" and snap my heels together.
burnside wrote:
IIRC, you are thinking of April Glasby (?sp)
Cinco-X wrote:
I would not put money on that assertion if I were you. but hey, I am sure nobody beyond the TLA reads all the comments.
Rob Dawg, btw, stop scraping the comments, you are just wasting electrons and braincells;-}
Someday this war's gonna end....
Hoopajoops LTD wrote:
Think..."truthiness"
Federal Sales tax on all FIRE innovations. The
's HST alone could balance the budget in a few short years.
It would make workers cheaper for the employer. Make tilt the playing field a little.
BEIJING, March 9 (Xinhua) -- China's auto sales maintained steady growth in the first two months of 2010, buoyed by the nation's car purchase incentives and strong demand brought by the week-long Spring Festival holidays.
The combined auto sales in January and February surged 84 percent from a year earlier to 2.9 million units, with February's figures alone reaching 1.2 million units, up 46 percent year on year, according to the China Association of Auto Manufactures (CAAM)
If 6% and 7% sales taxes are good enough for the peasantry, they should be good enough for the Masters of the Universe.
energyecon wrote:
Yup.
"Later the transcript has Glaspie saying: "We have no opinion on your Arab-Arab conflicts, such as your dispute with Kuwait. Secretary Baker has directed me to emphasize the instruction, first given to Iraq in the 1960s, that the Kuwait issue is not associated with America."
"When these purported transcripts were made public, Glaspie was accused of having given tacit approval for the Iraqi invasion of Kuwait, which took place on August 2, 1990. It was argued that Glaspie's statements that "We have no opinion on your Arab-Arab conflicts" and that "the Kuwait issue is not associated with America" were interpreted by Saddam as giving free rein to handle his disputes with Kuwait as he saw fit. It was also argued that Saddam would not have invaded Kuwait had he been given an explicit warning that such an invasion would be met with force by the United States."
Barley wrote:
Luckily we don't compete with China for oil imports. Buy your gasoline now or be priced out forever. I suppose we could have a rational national energy policy to avert impending
. Wait that would require foresight and thinking ahead.
Anonymous Bosch wrote:
If 6% and 7% sales taxes are good enough for the peasantry, they should be good enough for the Masters of the Universe.
Masters or Lords? What title would They prefer we address Them as?
Since Blankfein thinks he's doing Glod's work, Archangel or Seraphim would
prolly be acceptable.
sporkfed wrote:
That's not so much an overhaul as a reversion to the taxation used in the 19th century. I'm not knocking it, I'm just sayin'.
I think it'll probably increase lobbying efforts though, probably something we don't need.
fudge_hend wrote:
And taht is one thing we will not do. There is no "past lunch" in our universe.
lawyerliz wrote:
His Noodly Appendage
lawyerliz wrote:
Since Blankfein thinks he's doing Glod's work, Archangel or Seraphim would
prolly be acceptable.
What ever happened to Archangelo Mozilo?
Right you are. April Glaspie, not Madeleine Albright.
Bot шto!
Wait that would require foresight and thinking ahead.
Not allowed.
Wasn't he sued for a bunch of stuff--the orange man I mean.
ResistanceIsFeudal wrote:
Check the tanning booth.
lawyerliz wrote:
I doubt Cthulhu refers to it's minions in any angelic terms... I think "star spawn" would be more appropriate.
Cthulhu - Wikipedia, the free encyclopedia
It's been said before but it bears repeating, imo. Our fate was sealed when we went from being a net creditor nation to being a net debtor nation. The only point of contention is the rate at which the final outcome will be determined.
Well spawn would be fine with me.
fudge_hend wrote:
We don't need gasoline 'cause we're gonna have monorails powered by pony skittles.
Cthulhu
I really loved the bumper sticker: Vote for Cthulhu. Why settle for the lesser evil?
pavel.chichikov wrote:
In 1996 I had yard signs I put out on voting day. Loved the looks from passer bys on the way to the polls.
I was down in the Miami-Dade courthouse room where you order files.
You could see the lack of due process in action.
The lady next to me had 4 out of 5 files as unfindable. They never found mine,
but didn't say it was lost either, I had to leave.
One poor attorney was trying to track down a clerk who was trying to track down
a filing which was docketed as coming in, but not in the court file. When I left he
was still hanging hopefully around. The clerks in the window had never heard of the
supposedly helpful guy.
I told him, you know, they have boxes and boxes of unfiled papers and he just looked
at me. We should have a mural done on the courthouse wall, entitled "Civilization
Breaking Down".
Start by replacing the payroll tax with a Tobin tax. Add in a third category of very short-term capital gains with a punitive rate.
I'm actually not convinced a Tobin tax stands on it's merits, but every single person connected to Wall Street is dead set against it, and that's enough for me.
Anonymous Bosch wrote:
I'd say the threshold was going from net exporter to net importer... after that becoming a net debtor was in the cards.
dryfly wrote:
We don't need gasoline 'cause we're gonna have monorails powered by pony skittles.
Manned starships fueled by hopes and dreams, engines cooled by the tears of children...
dryfly wrote:
I think pony skittles would be a good euphenism for our nations energy policy. It sounds great with sunshine and rainbows, and as long as you don't actually try to figure out how they actually work you won't realize its nothing but a bunch of fantasy sh*t from some horses ass.
Manned starships
No people in them.
dryfly wrote:
What could we do to reverse the trend? Other than reverse thousands of policies?
fudge_hend wrote:
you won't realize its nothing but a bunch of fantasy sh*t from some horses ass.
Hey, shut up about the guy I voted for! He had pretty teeth and looked good in a suit.
Charles Kiting wrote:
Forex is gonna do it for us eventually - and it won't be pretty.
lawyerliz wrote:
Off to re-education camp, I am sure.
When we shipped our manufacturing base, and their jobs, overseas, and turned our efforts to the Housing Industry, we inherently acknowledged that all we have left to keep ourselves occupied is an elaborate "taking each others' laundry" circle jerk.
When the swell of boomers starts to drop dead, as might just happen at an accelerated pace given the reduction in future healthcare capacity, the present overhang of excess housing will pale in comparison to the swaths of unnecessary suburban wasteland.
Unless the Chinese invade. We may just ask them to, just to fill the vacant housing.
energyecon wrote:
omg. April Glasby was having an affair with Madeleine Albright?!
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pavel.chichikov wrote:
Now there is a third party I can believe in!