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aussiebear

World Stock Markets Trading Discussion - Neutered nabobs

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3 hours ago, Jorma said:

By the way Aussiebear., about today's thread name.  There is only one word that should be paired with nabobs.  As spoken by our illustrious former Vice President Spiro Agnew.    Nattering nabobs.

 

3 hours ago, DrStool said:

of negativism

Effete intellectual snobs. 

Indeed and I did consider using "nattering nabobs" but decided to put my own spin on it.  The dictionary says a nabob is a Muslim official or a wealthy, luxury loving individual esp one who has returned from India with a fortune!  Not really applicable to the thread in either case but I have always liked the "nattering nabobs of negativism" quote.

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1 hour ago, aussiebear said:

 

Indeed and I did consider using "nattering nabobs" but decided to put my own spin on it.  The dictionary says a nabob is a Muslim official or a wealthy, luxury loving individual esp one who has returned from India with a fortune!  Not really applicable to the thread in either case but I have always liked the "nattering nabobs of negativism" quote.

I didn't know what a nabob was exactly.  I would look up who put those words in Agnew's mouth but I don't have the stomach for it going back there.   (I'm guessing  Pat Buchanan)

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It's hard to imagine now that we believed the Fed was going to carry on with QT for a lot longer.  I did point out from time to time that there is not a constituency in the entire world who wants 'tight' money. 

In the Feds defense they started planning the whole thing before the tax cut and the total abandonment of fiscal discipline.  That extra maybe $700bn of Treasury supply so far makes up a good chunk of the liquidity shortfall now.  

Now that many people have learned, via the post debt ceiling Treasury flood and then Repo fiasco, that the Fed just doesn't mandate interest rates by waving a magic wand or something but must actually control them sometimes with real money it is going to start to occur to some people that maybe, just maybe, the Fed can lose control.    Nobody expects rates to rise. Really rise.  Even I don't. I can't imagine the horror it would be.

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