Jimi Posted September 2, 2009 Report Share Posted September 2, 2009 A great comment from Richard Russell tday. I received this in the mail today. My first reaction was to laugh, but my second reaction was to shake my head and feel sad. Let me get this straight -- Obama's health care plan will be written by a committee whose head says he doesn't understand it, passed by a Congress that hasn't read it, and whose members are exempts from it, signed by a president who smokes in secret, funded by a treasury chief who did not pay his taxes, overseen by a surgeon general who is obese, and financed by a country that is broke. What could possibly go wrong? Boy. That's pretty good at summing things up. Link to comment Share on other sites More sharing options...
Jorma Posted September 2, 2009 Report Share Posted September 2, 2009 It's looks like fixed income of any type is where the money is being dumped.Always a bubble somewhere..... I think people still want to be "in the game" but with less perceived risk,thus the rotation into any kind of bonds. With stocks a few percent off their highs no less. The government/central bank liquidity machine has worked well. Does it end tomorrow or in 4 years? TJ. Aren't you tempted to take the capital gains on your bond holdings? In part at least? On health care we could take the $350 billion of currently unused TARP money and pay for the public optional insurance for several years by which time prices throughout the system would begin to fall. An optional public insurance system is the low cost plan long term. Something that is obvious if you study policy, not cartoons drawn by politicians and the industry and repeated ad nausium by people locked into their prejudices. Russel's little story is cute but has no meaning. It's a cartoon. And I ought to know. Just look at my picture. Link to comment Share on other sites More sharing options...
capitall Posted September 2, 2009 Report Share Posted September 2, 2009 With stocks a few percent off their highs no less. The government/central bank liquidity machine has worked well. Does it end tomorrow or in 4 years? TJ. Aren't you tempted to take the capital gains on your bond holdings? In part at least? On health care we could take the $350 billion of currently unused TARP money and pay for the public optional insurance for several years by which time prices throughout the system would begin to fall. A public insurance system is the low cost plan long term. Something that is obvious if you study policy, not cartoons drawn by politicians and the industry. Great idea. Best use of TARP money I can think of. Link to comment Share on other sites More sharing options...
Trader Joe Posted September 2, 2009 Report Share Posted September 2, 2009 TJ. Aren't you tempted to take the capital gains on your bond holdings? In part at least? Very tempted and having planning to do just that. Link to comment Share on other sites More sharing options...
MrHanky Posted September 2, 2009 Report Share Posted September 2, 2009 My theory is this.... Muni's get run through the roof with some help from government sachs.Get the yields back to where they were before the crash so the states and cities can issue a crapload more debt.If this is the case,muni's still have a HUGE move ahead of itself.(another 25% move possibly?) This way it does not cost the government much,just a few bucks to prop it...Then states can issue at low rates. I don't know what's gonna happen for sure,and I am sure I will miss most of the move FWIW Link to comment Share on other sites More sharing options...
POTUS Posted September 3, 2009 Report Share Posted September 3, 2009 There clearly some clarification needed here about the TARP "money"...... There is no TARP "money", sheeple! It's all just IOU's! Debt! Unprinted FRN's! It's "money" the Merkin Gubmint does not have. So, in the future, please refer to Gubmint expenditures accurately, such as "TARP debt that will bankrupt our grandchildren and never be repaid" Link to comment Share on other sites More sharing options...
TenaciousG Posted September 3, 2009 Report Share Posted September 3, 2009 WTF is going on with NatGas futures down to $2.66. I keep thinking I can catch a bottom only to find a new one! Is this some slow unwinding of a hedge fund or ETF? Link to comment Share on other sites More sharing options...
mdporter Posted September 3, 2009 Report Share Posted September 3, 2009 My theory is this.... Muni's get run through the roof with some help from government sachs.Get the yields back to where they were before the crash so the states and cities can issue a crapload more debt.If this is the case,muni's still have a HUGE move ahead of itself.(another 25% move possibly?) This way it does not cost the government much,just a few bucks to prop it...Then states can issue at low rates. I don't know what's gonna happen for sure,and I am sure I will miss most of the move FWIW Won't someone ask how the local governments/states are going to pay that money back when their tax revenue is in a death dive? Link to comment Share on other sites More sharing options...
psyche doctor Posted September 3, 2009 Report Share Posted September 3, 2009 Link to comment Share on other sites More sharing options...
MrHanky Posted September 3, 2009 Report Share Posted September 3, 2009 Up,up and away! Link to comment Share on other sites More sharing options...
mdporter Posted September 3, 2009 Report Share Posted September 3, 2009 WTF is going on with NatGas futures down to $2.66. I keep thinking I can catch a bottom only to find a new one! Is this some slow unwinding of a hedge fund or ETF? Too much capacity, not enough storage. Therefore prices are falling. If Seattlelaw is around he can explain all the stuff happening with natural gas drilling. Link to comment Share on other sites More sharing options...
psyche doctor Posted September 3, 2009 Report Share Posted September 3, 2009 WTF is going on with NatGas futures down to $2.66. I keep thinking I can catch a bottom only to find a new one! Is this some slow unwinding of a hedge fund or ETF? I just picked up several contracts at around 2.72, not thinking that I found the bottom, that would be foolish, but that it is due for a pop. Link to comment Share on other sites More sharing options...
MrHanky Posted September 3, 2009 Report Share Posted September 3, 2009 Won't someone ask how the local governments/states are going to pay that money back when their tax revenue is in a death dive? Who said they would pay it back? Nobody asks questions,big money will chase yield to shield themselves from rising taxes. Link to comment Share on other sites More sharing options...
psyche doctor Posted September 3, 2009 Report Share Posted September 3, 2009 Link to comment Share on other sites More sharing options...
TenaciousG Posted September 3, 2009 Report Share Posted September 3, 2009 I just picked up several contracts at around 2.72, not thinking that I found the bottom, that would be foolish, but that it is due for a pop. Thanks PD and MD - my only thought is that the long NatGas and short Oil is too crowded and the big boys want to lean on those trades. Fundamentals seem to have little to do with markets these days. PD - My grandmother is from New London, Texas and I remember her telling me the story of the natural gas explosion in the school which is the reason why an odor was added to natural gas. http://en.wikipedia.org/wiki/New_London_School_explosion Link to comment Share on other sites More sharing options...
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