Battle Royal

[shorty]

speakin' o' fools and damnation liars,

 

let's see how Crammer's latest touts are doin',

 

another big up day on the stock market....

 

hey, what the ???

[potatohead]

*DJ Poole: Fed Doesn't Follow Mkts; Must Be Willing To Surprise

 

 

 

 

If you would give me the name of the reporter on that I will send them an email proving, in the Fed's own words posted on the NY Fed website, that either Poole is a fool, or a damned liar.

629412[/snapback]

 

 

 

not from a reporter but a direct quote from Poole himself

 

I tell ya Doc I cant take this crap much longer....

[IrishJew]

Hi Doc,

 

I can't tell if I am still paying or not? I've been away for a while. Can you check on my subscription? It's says I am still subscribed when I try to sign up but won't accept my log in?

 

Sorry to bug ya.

 

IJ

[Brisbane Bear]

we are rapidly approaching the point of no return if you ask me.

 

As Doc said earlier most people are clueless.

 

This is akin to a huge bushfire about to engulf the whole world,but because the average smuck can't see the fire on TV he doesn't realise the danger.

 

Here in OZ the most senior politicians were shocked by the recent election bloodbath.

 

As were most of the media and the general public.

 

I often say that if you don't make the hard decisions yourself,someone else will.

 

Overpaid teachers (insert any govt paid employee)will have their wages and conditions slashed by market forces.

 

Inflation is like a huge wrecking ball just smashing the system to pieces.

 

It is the ultimate vicious circle.

 

Higher costs lead to higher wages which lead to higher costs until the whole system implodes.

 

 

Florida Schools Struggle to Pay Teachers Amid Freeze (Update2)

 

By David Evans

 

Nov. 30 (Bloomberg) -- School districts, counties and cities across Florida sought to raise cash after being denied access to their deposits in a $15 billion state-run investment fund.

 

The Jefferson County school district was forced to take out a short-term loan to cover payroll for the 220 teachers and other employees in the system after $2.7 million it held in the pool was frozen yesterday. At least five other districts also obtained last-minute loans, said Wayne Blanton, executive director of the Florida School Boards Association.

 

``The unthinkable and the unimaginable have just happened here in Florida,'' said Hal Wilson, chief financial officer of the Jefferson County school district, located 30 miles (48 kilometers) east of the state capital Tallahassee. ``What we just experienced here is a classic run-on-the bank meltdown.''

 

http://www.bloomberg.com/apps/news?pid=206...8p3g&refer=home

[DrStool]

Doc do you still think there will be no rate cut at the next fed meeting?

629414[/snapback]

 

I generally don't have an opinion on that. Did I give that impression somewhere? If so, I should correct it.

 

I honestly don't know. So far, they are still trying to defend the 4.50 rate. Before the first cut, they were telegraphing 1/4 and then went 1/2.

 

The money markets are so disjointed and screwed up, T-bill rates so low while other rates seemingly under some upward pressure. If they cut, they won't have to tighten liquidity so much. But obviously there are downsides to a cut.

 

I don't think it's a good idea to try to guess, but if there are low risk ways to structure trades based on what you think that they will do, and how the market will react, then by all means it's worth a try. But I think it's better to stick with the charts and then react to the market reaction if it calls for a fade.

[DrStool]

*DJ Poole: Fed Doesn't Follow Mkts; Must Be Willing To Surprise

 

 

 

 

If you would give me the name of the reporter on that I will send them an email proving, in the Fed's own words posted on the NY Fed website, that either Poole is a fool, or a damned liar.

629412[/snapback]

 

 

 

not from a reporter but a direct quote from Poole himself

 

I tell ya Doc I cant take this crap much longer....

629419[/snapback]

 

I understand that the reporter was quoting Poole. But doesn't the article have a byline? I want to contact the reporter. There's a story there, and I want the reporter to have it.

 

Tanks!

[Charmin]

Well, BBY Bestbuy needs your help, but I don't think they're going to save you 30% off the price of an HP laptop computer.

 

If you didn't know it, you could shave 30% off the price of a HP Pavillion laptop by using a coupon code before December 8th. Skip the stores and forget ebay.

 

30% off $999+ HP Pavilion Notebook PCs coupon code NB3075 [Exp 12/8]

 

I used the code today and it worked.

 

http://www.shopping.hp.com/webapp/shopping...m/psg/notebooks

[No Einstein]

Lucy, your email address bounced.

 

Reference Scottrade system vs Etrade

 

I guess I just look at it as an inconvience...I have to take the time to learn a new layout... once I get acclimated it won't make a difference.

 

My son has had Scottrade for years and he loves it and recomends both system and company

 

I too had a few problems getting my system setup, linked and approved , But.... I really do have to give Scottrade the benifit of the doubt...They had a huge influx of new customers from Etrade ( and I bet some from Schawb as there were rumers about them having bad Morgage paper too) They probably had to add a buch of new servers and I bet their IT staff was working triple time setting up those servers, setting up new accounts and communicating with Etrade to transfer all those accounts..

 

I have already found some new trading tools that I find interesting.

 

I'm No Einstein but it seems to me that any personal short term discomfort is worth it. Etrade is a poorly run company in my opinion, and I have worked for some good ones.

 

Etrade may come out of this or they may be the next enron, better to be safe than sorry.

 

FYI the Manager/Broker(s) at the local office here very open to spending some quality one on one time reviewing/training on their system. I suggest you call your team and ask.

 

 

NE

[Drano]

Boy, it sure depends on your local office. There are 2 Scottrade offices here that I've visited. One was great, very helpful. The other could hardly be bothered to say hello as they reluctantly gave me papers to open an account and couldn't take the time to answer any questions.

 

There weren't any other customers there, either.

[Jorma]

*DJ Poole: Fed Doesn't Follow Mkts; Must Be Willing To Surprise

 

 

 

 

If you would give me the name of the reporter on that I will send them an email proving, in the Fed's own words posted on the NY Fed website, that either Poole is a fool, or a damned liar.

629412[/snapback]

 

 

 

not from a reporter but a direct quote from Poole himself

 

I tell ya Doc I cant take this crap much longer....

629419[/snapback]

 

I understand that the reporter was quoting Poole. But doesn't the article have a byline? I want to contact the reporter. There's a story there, and I want the reporter to have it.

 

Tanks!

629425[/snapback]

 

 

I've found a portrait of Dr. Poole, an obvious paragon of selfless public service.

[Brick Stoolhouse]

speakin' o' fools and damnation liars,

 

let's see how Crammer's latest touts are doin',

 

another big up day on the stock market....

 

hey, what the ???

629417[/snapback]

 

Shorty- you are always good for at least one hearty belly laugh per day! I must thank you my friend!

[Drano]

speakin' o' fools and damnation liars,

 

let's see how Crammer's latest touts are doin',

 

another big up day on the stock market....

 

hey, what the ???

629417[/snapback]

 

Shorty- you are always good for at least one hearty belly laugh per day! I must thank you my friend!

629430[/snapback]

Did someone say belly?

[potatohead]

*DJ Poole: Fed Doesn't Follow Mkts; Must Be Willing To Surprise

 

 

 

 

If you would give me the name of the reporter on that I will send them an email proving, in the Fed's own words posted on the NY Fed website, that either Poole is a fool, or a damned liar.

629412[/snapback]

 

 

 

not from a reporter but a direct quote from Poole himself

 

I tell ya Doc I cant take this crap much longer....

629419[/snapback]

 

I understand that the reporter was quoting Poole. But doesn't the article have a byline? I want to contact the reporter. There's a story there, and I want the reporter to have it.

 

Tanks!

629425[/snapback]

 

 

here's the article

 

 

DJ Fed's Poole: Moral Hazard Wouldn't Prevent Large Rate Cut

 

 

By Brian Blackstone

 

Of DOW JONES NEWSWIRES

 

 

WASHINGTON (Dow Jones)--Federal Reserve Bank of St. Louis President William

Poole on Friday said "moral hazard" concerns that rate reductions might spur

risky investor behavior wouldn't prevent him from cutting rates aggressively

if he thought it was warranted.

 

"I wouldn't want people in the markets to believe that I, at any rate, would

be so concerned about the moral hazard argument that I wouldn't possibly

advocate a 25-basis-point or a 50-basis-point cut (in the federal-funds rate)

or whatever might be on the table," Poole told reporters following a speech at

the Cato Institute, a think tank.

 

He also said some of the past improvement in financial market conditions has

reversed since the Fed's meeting in late October, echoing recent comments by

Fed Chairman Ben Bernanke and Vice Chairman Donald Kohn.

 

Financial conditions "are not the same as they were" when the Fed met on

Oct. 30-31, Poole said.

 

The Fed lowered the target fed-funds rate 25 basis points at that meeting

and has lowered it a total of 75 basis points since September. But at the

October meeting, officials said they saw the risks between growth and

inflation as roughly balanced, which usually signals that they aren't likely

to lower interest rates again soon.

 

But remarks this week by Bernanke and Kohn dwelling on recent financial

turmoil and its potential effect on the economy have spurred hopes that the

Fed will slash rates again when it meets on Dec. 11.

 

There had been "genuine evidence" that markets were settling down when the

Fed met in October, Poole said, adding that some of that progress has

"stopped" or reversed in the most recent weeks.

 

Poole also defended the Fed's decisions to lower interest rates in recent

months even as the economy grew at rapid rates.

 

"I think monetary policy has to operate on the basis of forecasts," Poole

said.

 

Poole was asked why the Fed has lowered the discount and fed funds rates

even though the economy grew 3.8% in the second quarter and 4.9% in the third.

 

Poole said he expects "somewhat softer conditions" in the fourth quarter,

but that the Fed can't do anything to affect conditions so quickly since

policy works with a lag. Policy, instead, has been aimed at preventing a

"cumulating problem" next year.

 

Speaking about the housing market, Poole noted that problems there have

shaved about one percentage point off gross domestic product growth on an

annualized basis since the middle of last year. He said it "makes sense" for

the Fed to try and prevent "collateral damage" on the rest of the economy.

 

Poole also dismissed any idea that the Fed follows markets when it comes to

setting monetary policy. Markets and the Fed usually align ahead of Fed

meetings, Poole said, citing research he has done at the St. Louis Fed. But

the Fed, he added, must be willing to take actions that are contrary to market

hopes.

 

Poole said it is conceivable that data between now and the Dec. 11 Fed

meeting - such as the November employment report due next week - could jar

those expectations if they were to come in strong, though he noted he was

speaking hypothetically.

 

"You could have a string of such (strong) reports," Poole said, which is why

he said he reserves his final judgment on rates until the day of the meeting.

 

Poole also said markets should set exchange rates, not central banks.

 

 

-By Brian Blackstone, Dow Jones Newswires; 202-828-3397;

[email protected]

[elh]

I was trying to verify claims made here about Scottrade's capital ratios and and relative safety.

 

I was not able to find Scottrade's SEC filings that would provide this information. As such, I'm stumped about the claims made here.

[Speakeasy]

Been raining in San Diego all day. Storm is out of the south and a warm steady light rain. I can't remember any decent rain in the past six months.

629391[/snapback]

Yes, we got a solid rain in LA first time in a long while. Feels lovely and came just 4 days after I put in my winter vegetable garden. A real blessing.