DrStool Posted November 29, 2009 Author Report Share Posted November 29, 2009 Hey! My comment on Bernanke's letter on the WaPo got 15 reco's, more than any of the 190 others. Well, maybe not all 190, but the last 90 anyway. I think the reaction is 189 attacking him, and one agreeing. Link to comment Share on other sites More sharing options...
roxy Posted November 29, 2009 Report Share Posted November 29, 2009 One of the links on the WSE sent me to this article http://jessescrossroadscafe.blogspot.com/2...%C3%A9ricain%29 which contained this quote about Herbert Hoover in the 1930's, comparing it to our present government. "Hoover quickly developed a reputation as uncaring. He cut unemployment figures that reached his desk, eliminating those he thought were only temporarily jobless and not seriously looking for work. In June 1930 a delegation came to see him to request a federal public works program. Hoover responded to them by saying: "Gentlemen, you have come sixty days too late. The Depression is over." He insisted that "nobody is actually starving" and that "the hoboes...are better fed than they have ever been." He claimed that the vendors selling apples on street corners had "left their jobs for the more profitable one of selling apples." Digital History Herbert Hoover and the 1930s So he was speaking with delegations? Yep, it's different. Link to comment Share on other sites More sharing options...
alceringa Posted November 29, 2009 Report Share Posted November 29, 2009 Uh... are you a stalker? You've caught me out................. Link to comment Share on other sites More sharing options...
roxy Posted November 29, 2009 Report Share Posted November 29, 2009 I'm an admirer of the beauty of God's creations, wherever that beauty is revealed. And I don't know much, but I know enough to worship the Creator, not His creations, which provide us only a tiny glimpse of His beauty, and which are all temporary, while He is eternal. Yep, I'm a big admirer, too... Link to comment Share on other sites More sharing options...
roxy Posted November 29, 2009 Report Share Posted November 29, 2009 I think Dubai will be bailed out... Link to comment Share on other sites More sharing options...
roxy Posted November 29, 2009 Report Share Posted November 29, 2009 I think Dubai will be bailed out... ... but investors are already spooked... Link to comment Share on other sites More sharing options...
Drano Posted November 29, 2009 Report Share Posted November 29, 2009 You've caught me out................. Link to comment Share on other sites More sharing options...
roxy Posted November 29, 2009 Report Share Posted November 29, 2009 ... but investors are already spooked... ... and it may be hard to hold the carry trade being unwound. Link to comment Share on other sites More sharing options...
roxy Posted November 29, 2009 Report Share Posted November 29, 2009 The weakest link in the chain is London. The reason is, the primary dealers who have to finance the most aggressive and leveraged clients cannot do it in US. The rules here are maybe not yet draconian, but still pretty restrictive for the real Willy O Coyotes. What they do is they arrange the finance in London branches, competing with local London bankers. Remember which division of AIG lost all the money? Remember who hired all Lehman geniuses? Remember who is quite exposed to Dubai? Will see... Link to comment Share on other sites More sharing options...
Rationalize Posted November 29, 2009 Report Share Posted November 29, 2009 isn't it sad how most people believe the crap about "the consumer" being the key to the "recovery" and being "70% of the economy", etc.? borrowing and consuming don't create wealth, saving and producing do a truly positive economic headline would be one like this: Consumers Cut Spending Dramatically, Pay Off Debt, Boost Savings and Work Longer Hours as Gov't Reduces Handout Programs, Lowers Taxes and Increases Incentives for Production, Invention and Innovation There might be too much implied wide spread personal responsibility in that one. More Stick required IMO. How about this: Debtor's Prison Re-Opened For Greedy R-Soles Who Borrow Too Much Then Renege. "The Loan Officer Made Me Do It" Not a Valid Excuse Any More. "They Kept Offering Me Cash Outs" Not a Valid Excuse Any More. "I Didn't Know How ARMs Work" Not a Valid Excuse Any More. "But I Though I Could Pay This Card With That Card" Not a Valid Excuse Any More. Either that or higher rates. Same diff. When productive work pays more than speculation, the market will self organize. Currently, still broken. Link to comment Share on other sites More sharing options...
Speakeasy Posted November 29, 2009 Report Share Posted November 29, 2009 You've caught me out................. Well then, you'll want the Pope. And I do believe I'd get into sports more if she explained it to me. But I'm of two minds about it. Link to comment Share on other sites More sharing options...
swordfish Posted November 29, 2009 Report Share Posted November 29, 2009 Hey! My comment on Bernanke's letter on the WaPo got 15 reco's, more than any of the 190 others. Well, maybe not all 190, but the last 90 anyway. I think the reaction is 189 attacking him, and one agreeing. Please always not to forget to put the name of the art, and your comment: drstool wrote:"The Fed played a major part in arresting the crisis," Typical of the delusional self justification that has typified the Greenspan-Bernanke Fed. Not only did the Fed's policy play a crucial role in causing the crisis, its response only papered it over at a catastrophic cost to the American people and generations of Americans to come. Furthermore, the paper is starting to peel, revealing the rot and decay still occurring underneath the false facade. Fire Bernanke. Fire Geithner. Get rid of Summers and anyone else whose policies played a role in creating this mess. Abolish the Fed and start over. I said that because Im not a subsc to WaPo. TIA Link to Ben bernake letter: The right reform for the Fed By Ben Bernanke Sunday, November 29, 2009 http://www.washingtonpost.com/wp-dyn/conte...9112702322.html EDIT: didnt notice links from Kwave to art.... Link to comment Share on other sites More sharing options...
swordfish Posted November 29, 2009 Report Share Posted November 29, 2009 From last newsletter of John Mauldin Unemployment Claims Were Not Down The headlines said that initial claims dropped to 466,000 here in the US, finally falling below 500,000. This was greeted with proclamations of recovery. First, let me say that 466,000 people filing for unemployment is still way too high. That is a lot of people losing their jobs, and when we first crossed over 450,000 a few years ago that level was seen as a sign of recession. Second, the headline number was a seasonally adjusted number. The actual number was 543,926. What is happening is that we are coming off of wickedly high numbers in 2008 and a seasonal number that was much lower in the preceding years. It is another part of the Statistical Recovery. And this trend is likely to keep on for the rest of the quarter. My friend John Vogel, who analyzes the unemployment numbers for me each week, shows pretty convincingly that the average for this current quarter will be over 500,000 per week on a non-seasonally adjusted basis. This is less than a 10% drop from last year for the same quarter. Job losses are continuing to mount, and we are on our way to an 11%-plus unemployment number by next summer. Statistical Recovery, indeed. Link to comment Share on other sites More sharing options...
swordfish Posted November 29, 2009 Report Share Posted November 29, 2009 ^BKX: daily: broke SMA 10,20,34,50,72,100. 200 NExt? broke EMA 10,20,30,50,72,100 ^KRX: the same as BKX Link to comment Share on other sites More sharing options...
swordfish Posted November 29, 2009 Report Share Posted November 29, 2009 Goldman broke all important sma,ema on daily to 100 (included). They may test weekly sma,ema 50-72-100. Link to comment Share on other sites More sharing options...
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