Jump to content


Photo

Snow Circuited


This topic has been archived. This means that you cannot reply to this topic.
347 replies to this topic

#1 wndysrf

wndysrf

    Dean of Stock Proctology

  • Banned
  • PipPipPipPipPipPipPipPipPip
  • 34,219 posts

Posted 16 May 2003 - 03:23 PM

Snow to Urge G7 to Step Up Growth
Friday May 16, 11:09 am ET

DEAUVILLE, France (Reuters) - U.S. Treasury Secretary John Snow said on Friday he wanted to press fellow finance ministers from leading industrial nations to step up the pace of economic growth to deal with a soft global recovery.

Mark’s Translation:

Snow warned all finance ministers that effective immediately, the foot must be put on the gas to use unconventional measures to “prop up” the stock market. Since the Stock Market is the Economy, no global recovery can take place without re-igniting the BubbleMania.


"While we are taking steps in United States to try to create more growth, recognizing our growth rate of 1.6 percent for the first quarter isn't adequate, we also want to talk to our friends about the fact that their growth rates are not adequate," Snow told reporters ahead of a weekend meeting of Group of Seven finance chiefs.

The United States and Japan have been the only participants in market propping operations. We need the rest of you guys in the G7 to join in. In particular, the EuroLand participants need to get the refi and spend machine going so the U.S. Consumer doesn’t have the weight of the entire Speculative Sphere riding on his back.

Snow arrived in Deauville on Friday and was scheduled to participate in a day-long session on Saturday with fellow finance ministers from Britain, Canada, France, Italy, Germany and Japan.

He said the G7 faced "a serious issue" of weak growth that potentially imperils the global economy.

He said the Global Speculative Sphere is on the edge of a Financial Meltdown due to Robot Malfunctions. This Serious Issue will imperil the Paper Pyramid unless more recruits are found to keep the Chain Letter of Promise Tickets from collapsing.

Russia's finance minister will also attend part of the sessions on Saturday, making part of the meeting a G8 event.

Snow said that, while he did not intend to say what other countries should do specifically to spur their economies, he felt that all the participants had to come to grips with the need for action.

"The issue has gotten so serious when you look at growth rates of the world economy that it's time we get a little more pointed in trying to find a consensus to go forward," Snow said.

Goon Squads need to be assembled to round up the Russian and EuroLand consumers and force feed them with CapitalOne credit cards, New Century mortgages, and Household International wheel and tire financings. The Structured Finance Monster has grown exceedingly fat, and needs huge amounts of new credits to keep the Spread Trade going. Otherwise, the 100 to 1 leveraged Bermuda HedgeFunds will stumble and the Atomic Particle Accelerator will suddenly reverse as aggressive speculative accumulation turns into panicked forced liquidation.

Asked what he would say if other G7 countries point to huge U.S. trade deficits as part of the problem, Snow said he would respond that stronger growth in the rest of the world would be very helpful for the United States in lowering its current account deficit.

Snow said he expected there would be general agreement at the meeting that the global economy's performance was well below its potential in most parts of the world.

"This is a serious issue," he said. "The slow growth rate of the world's largest economies is a damper on the prospects for the world because it means there's less jobs, less growth, less wealth available."

Earlier this week, Snow said in an interview with Reuters that currency intervention -- government manipulation of currency values -- was not an effective economic tool for Japan or Europe.

He said all of the G7 countries have issues that they could deal with to try to make their markets more open and to scrap structural rigidities that currently choke rates of growth.

"I hope to engage in serious dialogue... on how to get more growth into the world economy, recognizing that what works in one place isn't precisely what works in another place," he said.

French Finance Minister Francis Mer, who will host the meeting in Deauville, said in a newspaper article that reforms to boost growth would be the main focus of the talks.
"Structural reforms designed to foster stronger, sustainable growth will be the main focus of our discussions in Deauville," Mer wrote in the Financial Times newspaper. "I expect each of us to reaffirm our commitment to reform."

The Keynesian Model cannot be proved to be an abject failure. It must be "reaffirmed". All forces must be mustered together in order to build up enough firepower for the Participants to be able to muscle The Market. The primary goal of this weekend’s G7 meeting is to discuss Unconventional Tactics to prove to the outside world that Governments are in fact bigger than the Market, and no amount of gold buying or dollar selling can circumvent The Matrix’s attempt to prevent another recession.

…………………….

The 27-year old MIT Math Wiz Kids continue to be shell shocked.

So far, the Black Holes models are not functioning. They have been Snow Circuited.

Once “The Fix” was announced, all HedgeHogs loaded up on their Bank of America Prime Brokerage Credit Lines and lined up for the usual Home Run War Rally Trade:

Long Stocks
Short Bonds
Long Dollar
Short Gold
Long GDP, Employment, Housing Start, PPI Inflation Futures
Short Oil, Natural Gas

So far, only one trade is working. The other 5 are spiraling out of control.

Is it any wonder that huge bids are coming into the junk stocks in an effort to “catch up” from the other losses?

We’ll have to wait and see where it ends.

..............................

Roger Arnold was on 3 hours every day this week.

He was subbing for Tom O'Brien during "The Opening Growl", and had some fantastic interviews during the first two hours each day.

For those who missed this segment:

Go to tfnn.com, then to radio shows, then to archived shows, then to Opening Growl during the month of May.

This afternoon, tfnn.com was down for maintenance, so I was unable to post a link.
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#2 strikerm3

strikerm3

    Master of Stock Proctology

  • Banned
  • PipPipPip
  • 1,533 posts

Posted 16 May 2003 - 04:07 PM

check out BEAS,SUNW,OPWV and BRCM pegged after hours

#3 wndysrf

wndysrf

    Dean of Stock Proctology

  • Banned
  • PipPipPipPipPipPipPipPipPip
  • 34,219 posts

Posted 16 May 2003 - 04:09 PM

Damage Control Continues:

Fed's Ferguson: Deflation risk 'quite remote' by Rachel Koning

Federal Reserve Vice Chair Roger Ferguson tried Friday to ease deflation jitters that have been a theme in financial markets since the central bank's May 6 policy statement. In it members said they saw increased risks of undesirable price declines. In a business school commencement speech at Washington University in St. Louis, Ferguson said the possibility of deflation "remains quite remote." Both CPI and PPI data this week showed core prices remain held in check. "The United States has too many good things going for it to make a forecast for deflation credible," he said, listing aggressive stimulus to date, falling oil prices, improved household and corporate balance sheets and "well anchored" inflation expectations.

Mark's Translation:

The possibility of debt masquerading as money, disappearing into thin air "remains quite remote". The United States has an insatiable desire for MTV Spring Break Sex, Consumption, Borrowing, Binging, Abusing, and Keeping Up With The Joneses. Therefore, it is IMPOSSIBLE for the U.S. Consumer to slow down, postpone, or defer his cravings. More aggressive nudity, swinging hip lifestyles, partner swapping, cool clothes, and all the rest of the "stimulation" is unlikely to lead the consumer to retrenchment.

PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#4 strikerm3

strikerm3

    Master of Stock Proctology

  • Banned
  • PipPipPip
  • 1,533 posts

Posted 16 May 2003 - 04:09 PM

check out BEAS,SUNW,OPWV and BRCM pegged after hours

look at that volume on the close! :lol: those orders were certainly to the ask

#5 anjing bau

anjing bau

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,257 posts

Posted 16 May 2003 - 04:14 PM

askj ...................yikes........

Posted Image

#6 anjing bau

anjing bau

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,257 posts

Posted 16 May 2003 - 04:20 PM

short candidate..........
Posted Image

#7 PileDriver

PileDriver

    Professor of Stock Proctology

  • Banned
  • PipPipPipPipPipPipPip
  • 6,448 posts

Posted 16 May 2003 - 04:30 PM

Buck down over a buck...

Prop-o-rama continues :P

#8 anjing bau

anjing bau

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,257 posts

Posted 16 May 2003 - 04:38 PM

Buck down over a buck...

Prop-o-rama continues :P

that soft dollar policy will drvie the economic recovery..............exporters are dancing in the streets

#9 anjing bau

anjing bau

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,257 posts

Posted 16 May 2003 - 04:42 PM

we need to start somewhere..............

Posted Image

need the ma's to get taken out with volume....

#10 DrStool

DrStool

    Chief of Stock Proctology

  • Admin
  • PipPipPipPipPipPipPipPipPip
  • 83,442 posts

Posted 16 May 2003 - 04:48 PM

Turdsday's Stooltrading text transcript for those who missed it. Today's transcript will be posted around 12:00 on Monday.

Anals subscribers, get a head start! Feedometer Analysis is now posted in the Talking Stool.

Stay tuned to your Weakend Anals and...

Lurkers, get instant access. 63 issues, just $19.29!

If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#11 wndysrf

wndysrf

    Dean of Stock Proctology

  • Banned
  • PipPipPipPipPipPipPipPipPip
  • 34,219 posts

Posted 16 May 2003 - 04:49 PM

NYSE % Record High pinned again at .99

13 trading days in a row at .97 or better.

Nasdaq % record backed off a hair to .95, the lowest reading of the week.

Sentiment
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#12 Pee Brain

Pee Brain

    Assistant Professor of Stock Proctology

  • Members
  • PipPipPipPipPip
  • 3,244 posts

Posted 16 May 2003 - 05:02 PM

Damage Control Continues:

Fed's Ferguson: Deflation risk 'quite remote' by Rachel Koning
"The United States has too many good things going for it to make a forecast for deflation credible," he said, listing aggressive stimulus to date, falling oil prices, improved household and corporate balance sheets and "well anchored" inflation expectations.

[i]Mark's Translation:


other than stoolville, i doubt many hopuseholds are boasting stronger balance sheets....

eating through home equity faster than the house is appreciating is not improving the balance sheets of ma and pa sheeple. when the tide ebbs, the debt will remain as the equity evaporates.
Iat least we're all safe for now. thank God we're in a bowling alley.

#13 Madame Wrecked Him

Madame Wrecked Him

    Master of Stock Proctology

  • Members
  • PipPipPip
  • 1,303 posts

Posted 16 May 2003 - 05:04 PM

There was a time when GE moved the market. Not so anymore, it seems:

Attached Images

  • ge2.gif


#14 Tig 'Ol Bitties

Tig 'Ol Bitties

    Bachelor of Stock Proctology

  • Members
  • PipPip
  • 868 posts

Posted 16 May 2003 - 05:05 PM

Sector to watch....


Posted Image

#15 wndysrf

wndysrf

    Dean of Stock Proctology

  • Banned
  • PipPipPipPipPipPipPipPipPip
  • 34,219 posts

Posted 16 May 2003 - 05:26 PM

Tig:

I'm still waiting for a pullback on the OSX. Check out the monthly chart, and you will see that a massive wedge has been broken to the upside.

Definitely a buy signal. Someone knows that the SUV Public is about to get a rude awakening.

The entire market can roll over, but this sector will buck the trend like the health care sector did during the 2000-2001 crash.
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!





Stock market portfolio giving you the runs? See Dr. Stool.

Take a subscribatory!
Download 
The Anals of Stock Proctology now!



The Daily Stool - Stock Market Message Board
Stool's Gold- Gold and Precious Metals Forum
Look Out Below Message Board

Support your local Stool Board.


The Al E. Greenspeuman designer line at Stoolmart. Get yours today! Click here now!
Get Mugged!


Dr. Stool's
Book Search

Enter title, author, or keyword
Just books
All Products





Old Stool Depository

Live Steaming Pile Chart