FOMC Statement: Economic Activity "Continued to strengthen"
Submitted by
CalculatedRisk on Tue, 03/16/2010 - 10:17am (238 comments)
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I hate extended periods.
"exceptionally low levels of the federal funds rate for an extended period"
The bubbles will continue until the collapse of the political and monetary systems creating them.
The Titanic is still afloat Gentlemen. Party on.
No surprises.
We will find out about the impact of the end of MBS purchases in a couple of weeks
best to all
This was the first one day Fed meeting since September 16, 2008 - and that probably says something too.
That the weather in DC is finally nice?
Nothing here to see. Move along!
"This was the first one day Fed meeting since September 16, 2008 - and that probably says something too."
That the economy is about to hit the shitter again? These buffoons can't tell their ass from a hole in the ground.
Is "Stabilizing" a synonym for "Flatlining"?
Not going near that one.
Guards! Seize that man.
CalculatedRisk wrote:
Is that going to be like last week's tsunami?
How was the view from the cliff, anyway?
yes.
Current language
Voting against the policy action was Thomas M. Hoenig, who believed that continuing to express the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted because it could lead to the buildup of financial imbalances and increase risks to longer-run macroeconomic and financial stability.
Previous language.
Voting against the policy action was Thomas M. Hoenig, who believed that economic and financial conditions had changed sufficiently that the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted.
More and more like Supreme Court rulings. Majority opinion and dissenting opinion. I still think that the votes are a form of signaling.
ac wrote:
Nahhh. If I've learned anything over the past 2 years, it is this: beliefs held over decades do not just die instantaneously. So instead of a collapse, I expect a multi-decade grind.
they will never stop buying MBS......they can't. Positive they will set up yet another backdoor entity ala the treasury note fiasco they call an auction. Lather, rinse, repeat.
Ciao
MS
dryfly (profile) wrote (in reply to...) on Tue, 3/16/2010 - 2:18 pm
Ya'? Well my family actually did something about it. I'm kin to Jesse James, and he loved to rob the banks, railroads and stage coache lines, the first two of which were seen by the settlers of the time to be parasites, which in the case of the rails at least, they were. Hence they became folk heroes in their day, and to some extent even now, despite government propaganda to the contrary....
They didn't want to waste an extra day arguing with Hoenig?
MrBeach wrote:
The band is still playing; everything must be okay....
Welcome to Argentina.......
Ciao
MS
BTW, if Madoff got 150 years for his multi-billion dollar ponzi scheme, how many years does Ben Bernankoff get for running a multi-trillion dollar ponzi scheme?
If a Hoenig screams in the wilderness and no one is there to hear it - does it make a sound?
Mook wrote:
That ship has already sailed...........
Christie Seeks to Suspend N.J. Tax Rebate, Skip Pension Payment - Bloomberg.com
Fine for the high "earners" but who's going to guard the Lindbergh babies?
Apparently, no sound is emitted but it does make for a couple of lines of prose.
Gosh look at that organic market response * yawns *...
I can't shake the image of the markets as tired old hooker and the Fed as the "customer"...
"Oh yeah, baby!" with all the authenticity of a banker's 'hoocoodanode'...
what are we on something like the 13th up day from 14? I lost track after 9 of 10.
Ciao
MS
Cinco-X wrote:
Jesse James was a son of a bitch - robbed hard working Norwegians in Northfield Minnesota - those were MY kin. They were the ones who ran the James Gang down. He had it coming.
Nemo wrote:
Especially on those heavy flow-of-funds days.
energyecon wrote:
DOW jumped 35 points between 2:10 and 2:20 PM (according to yahoo finance, which is on a time delay).
Eternity in hell with Stalin & that other guy not to be named & Attilla the hun?
Cinco-X wrote:
Yeah, but it's already made that move twice today, on no news.
Now I've got a horrible visual of Bernanke and a very dirty old market.
Priceless..
"his Chief of Staff Richard Bagger told reporters yesterday. "
When the gov't job goes away he has a future in gay porn.
Ciao
MS
Cinco-X wrote:
weak weak weak
noob goldberg wrote:
:brainscrub:
dryfly wrote:
Rumor is he escaped and lived out his days as a river boat gambler. The official story is he was killed by Robert Ford. Is Ford a Norwegian name?
Free ice on the foredeck.
A new meaning to the word MILF?
Information received since the Federal Open Market Committee met in January suggests that economic activity has continued to strengthen
Really? Not to keep beating the bar of soap, but tax collections sez otherwise. Lifted from virginia's LATEST revenue report:
"February marked the lowest month of general fund revenue
collections since March 1998. Total general fund revenue collections fell 5.9 percent in
February, with receipts in most major sources declining for the month. On a year-to-date basis,
total revenues fell 4.8 percent, trailing the revised annual forecast of a 2.0 percent decline."
http://www.finance.virginia.gov/KeyDocuments/RevenueReports/FY2009-2010/revenueLetter-2-10.pdf
Wiki "confirms" my recollection:
Wiki is not the government.
The volume over the last 20 minutes can only have come from about three places......
It's totally captured by assholes.....
Ciao
MS
Cinco-X wrote:
Sure. It was originally spelled Fjord...
Obi-wan: Economic Activity "Continued to strengthen"
Shill: Economic Activity "Continued to strengthen"
Obi-wan: We will not Monetize
Shill: We will not Monetize
Obi-wan: Move along
Shill: Move along
I get the same sense when I read this as I do when I look into the eyes of someone who has been on the street for years.
The sudden disappearance of 50 billion new dollars each month is not likely to have bad effect on whatever the Fed is looking at.
MrBeach wrote:
The Titanic is still afloat Gentlemen. Party on.
The band is still playing; everything must be okay....
Today is wild wild west day on CR! Whoop!
I love this place.
I wonder how large the decrease will be in Fed and State income taxes due to lower interest income for everyone with any form of interest bearing account. Another unintended consequence. I'm sure the states will really appreciate that assistance.
black dog wrote:
Yes, the tax numbers don't lie.
The Fed prounouncements are like an earnings report - the tax reports are like the actual cash flow...
Yancey Ward wrote:
Nope, won't have any effect at all.
SSShhhhh, I need the market to keep going up for the next couple weeks before entering the largest short position of my life.
Chainsaw wrote:
Yeah, I never understood ZIRP - combat deflation by creating less money???
I guess, it worked so well for the Japanese...
ghostfaceinvestah wrote:
CR wrote:
This suggests hubris to me. After all, this is the same team that couldn't see the housing bubble. Now, instead of raising the alarm about massive capital misallocation or the transfer of private risk by the trillions to the public balance sheet, we get professions of calm and confidence.
The grind going forward is going to continue to catch these geniuses by surprise.
Chainsaw wrote:
Cap gains should get a kick to the teeth as well, again. Well, except for bottom pickers like CR.
CR wrote:
More time to get to the life boats?
Cinco-X wrote:
James escaped - the Youngers were caught. Both James later got involved crime again - Jesse was shot by a member of his own gang [Bob Ford] for his reward. Frank eventually went 'straight'.
Northfield Raid & the James-Younger Gang : Library : MNHS.ORG
James-Younger Gang - Wikipedia, the free encyclopedia
Pretty interesting stuff. I get into the part of Missouri where the Younger-James Gang was from AND live near Northfield where the bank was located [seen it many times - still there].
"The media used up our snow excuses, and the weather's nice today guys. Keep the rates, say the economy is flat and let's hit the slopes!"
Glorious free currency markets FTW!
INO Equities Stocks Indexes - U.S $ INDEX (NYBOT:DX) Price Chart and Quote
I need the market to keep going up for the next couple weeks
Looks like long-term sideways lately.
Get out the No-Doze.
1.015
USD inches ever closer to CAD parity...
3 hour tour
Brad Delong sure knows how to take a compliment:
Worth Reading #1: First-Best, Second-Best, and Better-than-First-Best Economists (March 16, 2010) - Grasping Reality with All Six Feet
'Oh, you say I'm one of the best economic commenters out there? Well, that's very kind, but really you don't go far enough... let me explain how great I really am...'.
dryfly wrote:
I had a friend back in Alabama that was kin to the Youngers, and he related to me that one of the brothers had his upper lip shot off in a gunfight, and began wearing a "droopy" mustache, and this later became a stylish move among the public. He would always eat with a handkerchief over his mouth, and at some point it became popular to have a special lip on tea and coffee cups that would hold these kinds of mustaches out of the beverage.
Crude up almost 2 today.
Funny how the Fed didn't mention gas prices....
energyecon wrote:
If I didn't know better, I'd think he was on the run.
Pshaww, the hot tub is perfect! Never mind the nice man throwing in butter and spices - that's a skin therapy thing. Grab a
and come on in!
1 currency now -yogi wrote:
Gah, I know, it's the main reason I don't look at my trading account balance lately
Also terrible for me professionally, as I represent a number of exporters.
If I didn't know better, I'd think he was on the run.
Like a race between a turtle and a snail.
zzzzzz.
black dog wrote:
And in Texas:
Texas projects $11 billion budget shortfall - 3/08/10 - Houston News - abc13.com
Stretching for some good news.
noob goldberg wrote:
All you gotta do is quit being productive and/or exporting what the world needs. Or you could just keep buying tons of USDs. Seems to be some spare capacity now that Japan is slowing down.
Pharmaceuticals as currency. Hmmmm...
, would be one of the biggest nominal heists ever, no? [TALF, TARP et al not included in data]
$70 MM, even in
Outsider wrote:
I'm going to make a bet with energyecon that you're going to bet against shill that CR is betting on the turtle.
ghost-
what happens when they change the rules again?.....I don't discount being short (made alot over the last several years in and out (with the exception of last) but I really think that they will change the rules to screw the little guys (you and me) at every opportunity....and that includes shutting it all off when the pain is perceived to be too great.....say after one circuit day...or ask only or some BS we've not even thought about.
yes oil......too funny to even mention it I guess.
Ciao
MS
Jonathan wrote:
And where was the m3 in '98? Remember, kids, Texas is supposed to be the best and most functioning economy of the lower 48 ATM.
The recession is over! Oh wait, that was June 2009... never mind
1 currency now -yogi wrote:
Maybe, the biggest robbery I can think of was this one:
Brinks Mat robbery - Wikipedia, the free encyclopedia
Jonathan wrote:
Let's see, we are at the absolute best point for year over year comparisons and sales tax revenues are still down ~9%...and that is a bigger deal in Texas as a state with no income tax, the sales tax is a proportionately larger source of funding than most other states.
Pharmaceuticals as currency. Hmmmm...
Then we could mine the water supply, which is "flush" with them.
Jonathan wrote:
California is running a few (3-4) percent above projections. There's your good news. Of course that means only $16b left to address to balance the budget.
I'm going to make a bet with energyecon that you're going to bet against shill that CR is betting on the turtle.
Gotta make $$ somehow in this market.
FD: My husband is dabbling. We'll see how he does. (Hopefully past peformance is not indicative of future results.) Personally I could care less about the market.
MS wrote:
I agree wholeheartedly. The actions of 2008-2009 proved this to me. The goal is to preserve the current asset holders at all costs. Any talk of changing assets to 'stronger hands' at rational prices is going to be labeled as heresy. Short sellers were crucified over their attacks on financials in 2008. We all remember the midnight short-selling ban. And yet we discover that Lehman was using balance sheet maneuvers.
Going against TPTB and the grain is going to continue to be difficult.
I still have friends telling me: "Buy a house now, rates and prices are really low."
ghostfaceinvestah wrote:
I think the Israel/Iran silliness is on the back burner again.
:cattleprod:
Riverdance, dammit!
"Believe it or not, kids, when Grand-dad was Daddy's age, there were some states you could live in here in America that didn't have an income tax at all! Not a penny!"
"Mo-o-om! Grand-dad forgot to take his meds again!"
Uncle Warren, a spokesman for Ponzi Casualty, placed the value at $4 million. "They lost their patents years ago. Are they on drugs?"
Uncle Tony, a spokesman for the Cymbalta and Zyprexa crime families, placed the value at $100 million. "We will use our internet distribution channels. We plan to lay off some of the risk in a public offering via our friends in the calamari business."
Pre 1982 are copper
think you'd get more milage knicking a truckload of adderall
ghostfaceinvestah
fed dont buy gas, peasants buy gas.
Wow, frog legs really do look like chicken. Do they taste like chicken?
frog legs - Google Search
energyecon wrote:
You made me laugh out loud in the office.
shill wrote:
Coinz!
shill wrote:
'82? Really? I thought it was earlier than that - about the time the sandwich quarters were released.
So... how high can we go without employment, homebuilding and non-residential construction and with still-increasing total debt load? We've never been here before. Not recently, anyway.
dryfly wrote:
I get into the part of Missouri where the Younger-James Gang was from AND live near Northfield where the bank was located [seen it many times - still there].
The college age contingent of my Mother's extended family makes up about an quarter of the student body at St. Olaf's any given year (or so I'm told). A great uncle was editor of the Northfield News for decades. A nice college town if you don't mind the occasional whiff of Malt-o-Meal from the mill. It was a much bigger town (relatively) when the James gang rode in in 1876.
noob goldberg wrote:
:bows:
As a child, the highest accolade was during Thanksgiving dinner if you could make a sibling or cousin laugh so hard the milk they were drinking would come out their nose...good, good times...
CR, do you think that if the Fed sees rates go up as you predict (rather than what they predict) they will begin a new MBS buying program? Something else?
And, maybe a dumb question, but if TARP, etal were designed to get the TBTF making loans to Main Street businesses and that's not happening, then, well, when does that reality become so noticeable even the Fed has to take notice & maybe come up w/some kind of response?
Nope pre 82
United States Circulating Coinage Intrinsic Value Table
"I still have friends telling me: "Buy a house now, rates and prices are really low."
Hear the same thing....the house next to me is now in a short sale for about $300k...bought in 2006 for about $450k....even with the haircut it's still over-priced by about $125k....under 1k sq ft....no real maintenance for almost 20 years.....but someone decided it was a "really good deal". I've seen the parasitic real estate agents circling it for the last few weeks and I always tell them to leave me alone when they want to know why the house next door (mine-this is before they know I own it as I'm out on a walk coming back) looks so much better..... Actually I'm sort of an island of upkeep as most of the homes that turned over in the last four years all look like shit...it;s just too bad that they are in a cluster around me...
Ciao
MS
azurite wrote:
You are new here?
wally wrote:
How many dollars can the Fed print?
I believe the answer is "infinite".
I am betting they take their eye off the ball for a brief moment until the MBS market implodes, the step back in with unlimited money printing. Gonna be a small window to get short, then back long commodities.
Grayson: Can you tell us what banks got money and how much they received?
Bernanke: No
loanz? bAnks make loanz?
7 1/2%
I am kin to Charlemagne the Great. Good times by the fire when not out on campaign
lawyerliz wrote:
I'm with Liz on this one.
Banks can see there will be more down side to RRE prices. They do not want to lend with FHA 3.5% down then see more underwater homedebters walking away.
MS wrote:
Pshaw. The house around the corner from me sold for $2.6m in 2006 and can't find a REO buyer at $1.6m now. Exurban Nation: Half Off!
tumbril driver wrote:
LOL - I have had lots of family at BOTH Carlton & Olaf. My son looked at Olaf & said it seemed too 'organized' [Duh - they are brewery - hmmmmm?
We almost lived in Northfield - chose a 'rival' river town about an hour away. I'm there often.
Let's see, we are at the absolute best point for year over year comparisons and sales tax revenues are still down ~9%...
Exactly, those comparisons were against TEOTWAWKI numbers. Going forward the current numbers will be up against
, Stimpack, QE, C4C, etc. goosed numbers - all extinct or on the wane. The comparisons will get worse as the 
makes an appearance later this year (barring another round of QE/ Stimpack/state bailout before elections which will just punt the ice cream to next year).
Go back far enough & everybody is relATED TO everybody.,
nova wrote:
Me too Nova.
My brother with the Masters in History did my mom's side back to 430AD. Some interesting stuff in there.
Rob Dawg wrote:
That's only $178,000 per toilet...
Japan Economy Watch: Japan - Defying Gravity
They need exports to keep funding government deficit spending.
MS wrote:
It was sign to me when, in 2007, the local sandwich shop owner mentioned that he had just gotten his real estate license. He really wanted to discuss my housing situation with me. I wanted a sub. He did it everytime I went in. Eventually I stopped going, just so I wouldn't be harassed.
josap, it's always nice to find family!
SP500 now looks at 1150 as support... the rally continues....
Buy now or be priced out forever.... hehe...
josap wrote:
The way those kings got around we priolly all got a piece of that.
Did you ever hear the story about Charlie and the nuns? My Uncle told me that one after a few beers when I came home from leave.
ghost-
I sort of see it going the way of having a party and inviting everyone to come on in and you go and realize that it wasn't really worth it because it wasn't as 'advertised'-so to speak. They are not going to stop buying up all that crap....they may stop the 'official' wind up but it will just be replaced with something even harder to track. With the amount of worthless, non-productive cash floating in the system I think they can allow the secondary markets to crash (oh so briefly) but continue to play the inflation game in the indexes.....they don't have much of a choice based on who really owns the markets now......it certainly wouldn't surprise me if certain sectors we're allowed to "correct"-which is exactly what I think they tried to show in early Feb. but in any case it's a fool's game trying to figure it all out IMO.
Ciao
MS
Pretty soon the DNA markers will go back to the Pharaohs. There aren't as many degrees of separation as everyone thinks.
dryfly wrote:
Alot of truth to that, busy guys & gals.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
Translation: "We have exhausted the single most important fiscal tool for fighting recessions (interest rates) with no effect and, as a result, we will keep observing from the deck and providing monthly updates as we approach the iceberg."
It's a geneology joke. Anyone from Northern Europe is probably descended from Charlemagne. Just like around here there is a million people who claim to have Indian blood in them. When you ask it is always "Cherokee."
lawyerliz wrote:
There's no way in hell that I'm related to Michael Moore or Amy Winehouse.
Edit: Nah. Couldn't happen.
ShadowInventory wrote:
Are you from the PPT? Will you let us know when the end date of your current deployment orders? Is there an end date?
But what about Lena Horne?
1 currency now -yogi wrote:
I've read that humans share 95% of dna with chimpanzees.... when I told my elderly catholic aunt that she about had a fit... She refuses to believe that the bible was created by Constantine around 235CE either... even though our ancestors are the ones who drove Constantine out of Rome and then sacked the place... Also does not want to hear a discussion about who is in charge of the bible and how many times it has been changed.....
nova wrote:
I'm not part Cherokee, I'm part Seminole.
ShadowInventory wrote:
Not including the bushes I use on my walks.
Seriously, this one bears watching for signs of a bottom. $500/mo HOa, $1500/mo taxes. Several better homes nearby have sold within the last year at similar or comparable $/sf.
broward wrote:
Cramer??
broward wrote:
Amy Winehouse looks like she might have some 'leather genes'... MM not so much.
MS wrote:
The house next door to me, almost an identical house (although it's a bit better maintained), just went on the market for $389K.
I'm renting an identical property for $1300/month, and I'm not responsible for the $4k in annual property taxes that buying would require either. It just seems silly to buy at those prices.
1 currency now -yogi wrote:
The answer is Genghis Khan.
How I am related to Genghis Khan - Times Online
broward wrote:
But what kind of car are you buying?
MrBeach wrote:
I recall reading an article that claimed that everyone in the whole Euro- Russian land mass was descended from one of 3 mothers...
Rob Dawg wrote:
Yeah Broward, what kind of car? Or are you still living in that 1971 Vega with the passenger seat removed?
ShadowInventory wrote:
They must have been busy - just imagine dinner time - uffda!
I'm sure I'm related to cHARLIE & cHArlene the
ffarmers of the sAME EPOCH!!
ShadowInventory wrote:
I think it's way over 99%.
I think we share over 95% with a turnip.
"Seriously, this one bears watching for signs of a bottom. $500/mo HOa, $1500/mo taxes. Several better homes nearby have sold within the last year at similar or comparable $/sf."
I don't see it as any sign of a bottom...all I see is that there is an endless supply of potential bag-holders.
Ciao
MS
Dollar is doing a nose bleed dive.
Rob Dawg wrote:
Miata.
I looked at one last night that seemed too good to be true.
Today I'm suffering from post-purchase depression.
Job looks like exactly what I wanted but I've still got the other two offers and I'm depressed about the whole situation.
dryfly wrote:
I think the point was that most of the bloodlines had died out over time, and what remained was the survival of the fittest somehow - maybe the survival of the most aggressive....
lawyerliz wrote:
Indeed, Liz! If you get bored while recuperating--maybe you can watch the four recent Faces of America episodes on PBS. 11 of the 12 celebrities that Dr. Gates spotlights ended up being related to one another. Very cool! (Spoiler alert: Stephen Colbert is part Lutheran!)
Miata? Well, I lost that poll.
ShadowInventory wrote:
Genes fight - that is the untold story of 'evolution'.
broward wrote:
Did we just identify the
bandit? 
1 currency now -yogi wrote:
Ah that explains a lot of things.... Dead from the neck up people - a walking turnip......
shill wrote:
yeah, my Euro position is doing quite well.
"Investing" today has become such a joke - it is nothing more than betting on the lies of central bankers and governments.
Oil 81.81 2.01 2.52%
MS wrote:
Agreed as to that point but if we can produce as many bag holders as knife catchers we have reached a sort of equilibrium.
That said, other than our esteemed host, is there anyone left who discounts the coming double dip?
ghostfaceinvestah wrote:
And the gullibility of J6P - this is where I fail. I keep thinking J6P is smarter than he is and betting he sees through the lies. Instead he seems to fall for them everytime.
I can trace my roots back to Adam 12.
broward wrote:
That's not the broward we know and love. Where's the spirit?
Take the three options and turn it into some sort of sex game with your girlfriend, involving a bit of randomness but tilted in favour of the one you prefer. Then rest assured that you had three good options and put your faith in the randomness of good sex.
Rob Dawg wrote:
Mr. Market is apparently discounting it...
Buybuybuy!!!
Jonathan wrote:
Maybe.
Gotta go, my first meeting is at 1pm.
Pearl wrote:
My wife's family would say [without emotion]... "Isn't everyone?"
Yes it has GF, this is why I am sidelined, nothing but hard assets for me.
I need cash I will flip accordingly.
ghostfaceinvestah wrote:
Money Flows: Selling on Strength - Markets Data Center - WSJ.com
broward wrote:
The real reason for depression... and justified too.
bag holder, knife catcher........same in my book as it still represents some sort of under-performance. Entry point notwithstanding......
Ciao
MS
So, what's the real street value of that $70 drug robbery, like $2.3 million?
This is the guy who wanted to become a lion tamer, right?
Moderate Republican is an ........
I was thinking about that-what do you think the actual production costs were, ~500k? Less?
1 currency now -yogi wrote:
That goes a long way toward explaining my Uncle Cecil.
More fiddling while Rome continues to burn. Soon we won't need any torches, just pitchforks.
""Investing" today has become such a joke - it is nothing more than betting on the lies of central bankers and governments. "
One could make the case that it has always been this way.......certainly the last few years have magnified this but I can't really remember a time when it wasn't like that.
Ciao
MS
broward wrote:
Would it surprise you to learn that I am 1/8 Mighty Choctaw?
-- Corey Taft, For Your Consideration
When the man raids a garden here in the U.S. of A., all plants no matter what their size are worth $2500 per, but for some reason in the Gulag Hockeypelago, the mounties value the very same plants at 1/10th of what we value them here...
Uncle Ar wrote:
Miata.
, we have a winner (and i'm not a sore winner or anything)!
Congratulations Uncle Ar. There's a pony in your mailbox.
My favorite injuns are my whitebread paleface friends that have 1/16th of something or another, and you'd think they are 15/16's from the way they talk about their 'heritage'.
Juvenal Delinquent wrote:
War on Drugs = employment program.
Quoted "street values" are the domestic equivalent of "body counts" in wartime. How many Al Quaeda "Number Twos" have we killed? Those guys ought to start wearing red polyester.
Juvenal Delinquent wrote:
The last VenCo raid had the 6" plants valued at $10k each. Sweeet.
Maury the Credit Responsibility Panda wrote:
Our g-men are a little more in tune with inflation expectations.
Maury the Credit Responsibility Panda wrote:
too funny!
broward wrote:
My 20 something sons call the Miata a girls sports car. You look good, but don't go fast. Come on, get a TT.
Hurts tries harder...
nbc says $100 oil coming.....destroying the little guy one cent at a time.....
Well it may not be bear chits, but it's pretty close:
Several states plan to delay payments of tax refunds
Holder is yet another fecal floater near the top of the cesspool that is the Obama administration.
Rob Dawg wrote:
$2K a month for taxes and HOA alone?! Good Lord, that's more than my mortgage payment all by itself.
The sad part is that I've seen properties with that daily double in NJ listed for about half of that price. IMO, that's pretty close to where carrying costs would be so high as to strip all the value out of the underlying property. Or - to use a phrase I just invented - a "Superfund" house.
If you got a troika of 3 plants together, you could have a ganja stonehenge like in Spinal Tap...
I love how the stock market ticks up reflexively on news that interest rates will be kept low. Why don't more people focus on WHY they are being kept low?
GrandOldTurkey wrote:
TT is way too heavy and not a big enough engine. Last I checked, their 0-60 time was abysmal (~7-8s?). Kind of reminds me of my Honda Prelude, way cool except that it did 0-60 in like 7.5 seconds... granny speed.
I'm thinking he got that Miata for a couple of grand, in that price range its hard to get something that moves faster. Maybe a old Tiburon? ... or better yet a motorcycle ;0
MrBeach wrote:
Yup, though it may depend on how they're cooked.
creditcriminalslovetarp wrote:
I'd say that is pretty much a given. At least I have been betting on it for awhile.
i just gotta figure how long the Fed exit from the MBS market will last. My best guess is about a month.
credit-
you recall that spike down in early Feb. with oil? I really think that was a great load up point...I did. The real problem with oil (any of these markets FTM) is that a small few have way too much at stake and we get the whole self-reinforcing loop to make it possible.
'08 oil market was a preview IMO.
Ciao
MS
dryfly wrote:
Didn't they go to aluminum before going to zinc?
broward wrote:
At times like that, I cheer myself up with the three laws of thermodynamics:
They made aluminum cents in 1974 as a test, but all were melted down, never issued.
IIRC they did all kinds of wierd stuff during the wars.
I expect nickels will be the next to go.
energyecon wrote:
According to Bill Cosby, he once made a kid pass a cheese sandwich through the kids nose.....
Dodd Bill Would Make NY Fed Chief an Appointee of the President
This should help crank up inflation and locate more power in Washington D.C.
Senator Dodd's bill calls for the head of the New York Fed to be named by the President.
Currently, the New York Fed's president is chosen by a nine-member board of directors, which includes heads of banks it regulates, with consent from the Fed's Board of Governors. This certainly is not a system that is without opportunities for abuse of power, but at least it distributes power among various groups, and therefore there is a bit of dilution of the power.
The Dodd bill simply puts all the power under the control of the President.
President would tap NY Fed chief under Dodd bill
| Reuters
Uncle Ar wrote:
From the link:
Imagine what a deteriorating economy might look like - whew!
nova wrote:
I thought kin was a concept unique to the Celts?
Rob Dawg wrote:
Inflationary!
MS wrote:
agree completely.
BTW I think Mr. Bond market already expects a new Fed program.......(and you need to take this with a huge grain of salt) since we all know the market is so forward looking....
Ciao
MS
energyecon wrote:
Well it may not be bear chits, but it's pretty close:
Several states plan to delay payments of tax refunds
From the link:
Four cash-strapped states, including Alabama, Hawaii, New York and North Carolina are planning to delay refund payments this year in order to cover budgetary shortfalls. And it's possible that more states may follow suit, in particular Idaho and Kansas.
Imagine what a deteriorating economy might look like - whew!
And some people will miss house and credit card payments when their tax return checks are delayed--they will spend less, generating less sales tax revenue, and, and, and...oh never mind.
Cinco-X wrote:
I can testify from personal experience that a ramen noodle can make the transit...
"Four cash-strapped states, including Alabama, Hawaii, New York and North Carolina..."
Wow, they can count. So, is this the reporter or the editor's fault?
*uck...does anyone remember what a down day is anymore?
Don't answer that BTW...
Ciao
MS
funny how this book was never published in english.
Currency Wars - Wikipedia, the free encyclopedia
For all you oil higher people, some math:
1¢ per MMBtu natgas = 5.8 Cents per Barrel crude oil
Natgas = 439¢ right now. On an energy equivalent; $25.46 per barrel.
Regional Transit plans to cut 194 workers - Sacramento Business Journal:
Cinco, speaking of Transit
ghostfaceinvestah wrote:
Obama Aides See ‘Extended Period’ of Unemployment (Update1) - Bloomberg.com
They must perpetuate the myth that keeping an artificially low interest rate for Wall Street banks somehow creates jobs.
MS wrote:
Looking at volume, and we may actually be on pace to have an average 200m day on the dow today. First one in days!
Rob Dawg wrote:
You are looking at it the wrong way.
The dollar is 0.0122 per barrel.
SP500 at 1160 -
Buybuybuy!!!
If the Miata is red, I get partial credit. And if it's a convertible, I get 3/4 credit.
"creates jobs" so last century. "save or create" gives you cover even if unemployment goes up.
IYR is on fire......who are these guys...
MS wrote:
Yup. 30-year rates are virtually unchanged from a month ago at around 5.05% on average.
There's absolutely no way any sane lender would still be writing loans at these rates with 60-day locks if they didn't think the Fed would step back in if rates start going haywire come April Fools.
Replace stop signs that waste your time - CNN.com
Rob Dawg wrote:
Dawg,
You are caught in the supply/demand fundamentals trap that I also find myself in...but the price increase they are betting on is related to dollar decline and oil as 'black barbarous' (I think).
ghostfaceinvestah wrote:
Bingo! Dollars are priced in gold and oil. How dollars sink compared to other fiats is of less concern.
Rob Dawg wrote:
6" plants seem kinda small; 3 weeks old maybe? Must'a been some REALLY good stuff-
shill wrote:
The district has raised fares twice in two years of budget woes as tax collections have been decreasing, and especially with last year’s move by the legislature to eliminate the State Transit Assistance Fund.
2008 data:
Fare Revenues ( 19%) $30,969,121
Total Operating Funds Expended $160,082,668
Total Capital Funds Expended $31,855,676
Doubling fares at this point won't make a difference.
tg wrote:
There's a few in my general vicinity that could definitely go.
Maury the Credit Responsibility Panda wrote:
You do realize that every time we kill or catch one, another one takes over that spot. Additionally, since OBL is in hiding and in poor health, catching a #2 is really like catching a #1 from an operational standpoint...
Mook wrote:
The Fed is buying MBS 60 days forward.
We won't see the impact until the Fed stops buying entirely, at least temporarily.
I get a kick out of these commentators who gush on "the MBS market seems to be ignoring the imminent Fed exit from the market". Ah, yeah, they are spending the rest of their money like a drunken sailor, at current run rates they are probably 85% of the market, of course you won't see an impact yet.
ShadowInventory wrote:
We did even better than I expected, 224 million shares on the Dow today. Break out the bubbly!
Someone fire up the auxiliary generator for Maria tonight.
Uncle Ar wrote:
So that means i can delay my payment? Right?
Juvenal Delinquent wrote:
I'll trust the numismatist-
energyecon wrote:
energyecon wrote:
I suspected that New York may follow in Cali's footsteps and adjusted my w4 accordingly and then some to make sure that I end up owing taxes come this time next year -vs. getting a tiny refund or flat. I imagine others are doing the same.
shill wrote:
Various banks maybe. Various "groups" seems a stretch.
creditcriminalslovetarp wrote:
They are the arm behind the fist that is ramming SRS up my ...
noob goldberg wrote:
Setup for Friday's OpEx. Correction coming?
Cinco-X wrote:
Yeah, probably, but it'll be inverse. A correction to 12K.
shill wrote:
He is now - senate confirms - how is that different?
EDIT: I thought ALL fed presidents were presidential appointees & then confirmed by senate - yes - no?
EDIT TOO: I think I see the difference... NY Fed 'Chief' is NOT on board of governors. Governors appointed & confirmed - all else selected internally.
NateTG wrote:
New Zealand removed nickels in 2006.
SIGNING OFF. using the hubs laptop makes him nervous.
lawyerliz wrote:
Get well soon, Lawyerliz!