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Round Trip on An-crac


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Doc had to move his mother into an assisted living facility today. Check out this vid of a Lufthansa landing attempt. Alot like my attempts to make puts pay in this crack-addled market. These folks are some lucky people. Tough conditions but I'm not liking the pilots x-wind landing technique.

 

 

I'm off to the beach to run the mutts. later.

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From the Evans-Pritchard

 

have found it hard to see clearly through the economic and financial fog of the last two months. Pundits should shut up if they have nothing to say. So I did.

 

The Fed?s emergency rate cuts in January briefly seemed to change the picture. There was hope that the most dramatic easing in a quarter century would start to thaw the credit freeze.

 

Obviously, this has not happened. Almost every measure of credit stress is now at danger levels again, although US commercial paper is regaining a little colour.

 

My Monday column caused a storm.

 

So let me answer the collective critique by the hundreds of readers who sent comments.

 

I was variously called a Bush-hater, a visceral anti-American, a Keynesian, a teenage scribbler, and a ?hard Left? agitator. That last one cracked me up. (For the record, I am a Burkean conservative, aged 50, with a libertarian bent, and a penchant for Monetarist and Austrian economics ? though Keynes had a point in the Slump).

 

Let events judge whether I am scare-mongering. In the hierarchy of errors, complacency may prove to be the greater sin in the end.

 

The deep concern of bears is that the Bernanke-Kohn duo at the Fed may feel constrained from cutting raises as quickly and as deeply as they want because economic consensus is still underestimating the ?credit channel? and ?financial accelerator? dangers of this crisis. (To use two terms that Bernanke favours from his life-long study of depressions).

 

The risk is that they will wait too long to act - against their better judgement - because they cannot move too far ahead of bond vigilantes and commentators who are still fretting about inflation, as indeed are the Fed?s own regional board members.

 

This is what happened in 1930, when Sprague, Warburg, Hamilton, Robbins, and other governors loyal to the Real Bills Doctrine refused to cut rates, fearing a false inflation long after the threat had switched to deflation.

 

It happened again in Japan in 1990, when a mini-price scare pushed inflation to 4pc. The Bank of Japan overacted, holding rates at 6pc for too long.

 

By the time they recognized the error, events were spiralling out of control (although that is not the full story, of course).

 

Inflation lags the cycle. It always spikes highest at the end. Central bankers have to look ahead.

 

Who pose the greater danger to the world economy right now? The prophets of the credit crunch, or the prophets of inflation?

 

Those warning of a very severe crisis ? Nouriel Roubini, Michael Panzer at Financial Armageddon, Doug Noland at Prudent Bear, Yves Smith?s Naked Capitalism, and many others ? are all serving a vital social role.

 

http://blogs.telegraph.co.uk/business/ambr...d-inflation.htm

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California cows start paSSing gaSS to the grid

 

Imagine a vat of liquid cow manure covering the area of five football fields and 33 feet deep. Meet California's most alternative new energy.

 

The end product is "close to 99 percent pure methane" according to BioEnergy Chief Operating Officer ThomaSS Hintz.

 

Once it is treated, the gaSS is injected into PG&E's pipeline, where it will be shipped to a power plant in Northern California.

post-2457-1204756109.png

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California cows start paSSing gaSS to the grid

 

Imagine a vat of liquid cow manure covering the area of five football fields and 33 feet deep. Meet California's most alternative new energy.

 

The end product is "close to 99 percent pure methane" according to BioEnergy Chief Operating Officer ThomaSS Hintz.

 

Once it is treated, the gaSS is injected into PG&E's pipeline, where it will be shipped to a power plant in Northern California.

648951[/snapback]

 

I propose placing one close to Main street/Wall Street.....that way the bulls could contribute to our national energy needs and...they could share the not so subtle aroma of their endevour.... :)

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close to 99% pure methane :lol:

 

what's the other 1%? :ph34r:

 

adds new meaning to the old phrase "now yer cookin' with gaSS"

 

gives that extra special flavor to yer morning omelette when cooked over a manure gaSS flame

 

wonder if new housing developments will advertise the feature

 

"all new homes complete with manure gaSS stoves....enjoy the aroma of manure gaSS-flame-broiled burgers right at home!"

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close to 99% pure methane :lol:

 

what's the other 1%? :ph34r:

 

adds new meaning to the old phrase "now yer cookin' with gaSS"

 

gives that extra special flavor to yer morning omelette when cooked over a manure gaSS flame

 

wonder if new housing developments will advertise the feature

 

"all new homes complete with manure gaSS stoves....enjoy the aroma of manure gaSS-flame-broiled burgers right at home!"

648954[/snapback]

:lol: :lol:

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what a surprise <_<

 

As the U.S. housing meltdown forces hundreds of thousands of delinquent housing gamblers from their homes, the extent to which fraud was a factor in the crisis is just coming to light.

 

The vast majority of the cases I'm aware of involved straw buyers," he said. "Thanks to products like stated-income loans, people walked away with a ton of free money."

 

All you needed was to buy a foreclosed property at a bargain price, have it falsely appraised with a grossly inflated value, then sell it to a straw buyer at a big profit. The straw buyer never makes a payment and the home goes into foreclosure. The process was often repeated over and over again.

 

"We've seen some properties that were sold like this dozens of times," NHS' Reardon said. "This artificially pushed up prices in some neighborhoods and when those fake buyers walked away, the abandoned homes pushed prices down."

 

"The real victims are the genuine borrowers who bought here at inflated prices and are stuck now with mrotgouges worth more than their crapboxes," he added.

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I propose placing one close to Main street/Wall Street.....that way the bulls could contribute to our national energy needs and...they could share the not so subtle aroma of their endevour.... :)

648952[/snapback]

 

Build a big facility inside the Washington, D.C. beltway... that would be the Mother Lode for B.S.

 

Energy crisis solved... ;)

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