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Metamorphosis


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#1

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Posted 17 September 2003 - 07:38 AM

. . . Consumer spending is expected to remain the main prop outside government spending for the economy for the foreseeable future. Americans are expected to go deeper into debt each month in order to keep the consumption bubble alive. What the country has become good at is manufacturing credit. Think of it: at one time the U.S. was the world’s leading manufacturer of goods. Today the U.S. is the leading manufacturer of credit. The American economy has morphed from a manufacturing and producing economy to a credit and consumption society . . .

#2 Sphinxter

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Posted 17 September 2003 - 07:48 AM

Great article Glad.

Here's some more ....

“The Fed won’t raise rates until inflation and hiring picks up.” If money velocity falls faster, the Fed will print more money. If that doesn’t work, they will look at extra-ordinary means of making cash worthless, from dropping money out of helicopters to a carry tax on money held on deposit. Nothing is out of the realm as the Fed will get more desperate in the months ahead when present policy measures run out of steam. The Fed is hell-bent on reflation, which means that the prices of goods and services you need are going to go higher. It also means you’re going to be seeing higher gold and silver prices over the next year. We will know over the next year whether present monetary polices will lead towards a depressionary crash or hyperinflation. Maybe we will see both. We truly are living in historic times. Not since the days of John Law in 17th century France have we ever seen this degree of monetary madness.



#3 machinehead

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Posted 17 September 2003 - 07:48 AM

Two different views of the hurricane (a metaphor for the market?):

Joe Hardison figures he'll stay aboard the 35-foot craft and ride it out. "We have mullet blows that are that hard," said the 59-year-old air conditioning man, who has stocked the vessel with 120 pounds of ice, 50 gallons of water and a half gallon of rum. "If (the boat) breaks loose, it's going to run aground somewhere. If it does, I'll step off."


"Even a lot of old salts are bailing out," Brian Simmons said as he placed plywood across the window of Stoney's Seafood in Avon. "I don't know if it's some vibe they feel or something."


The 'old salts' may realize that those puny 110 mph winds can still sling a boat around pretty good. And it's not the wind, it's the water that kills ...
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
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#4 DrStool

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Posted 17 September 2003 - 07:50 AM

For up to the minute views of Isabel, scroll to bottom of page.

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#5 Sphinxter

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Posted 17 September 2003 - 07:51 AM

Yah, I don't know about Isabell.

This from CNN:

Considerable damage should be expected to mobile homes, trees and shrubbery in the landfall region. Damage to roofs and windows also should be expected.


Once they start citing the potential impact to the shrubbery, well, maybe a handle of rum is all you need.

#6 DrStool

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Posted 17 September 2003 - 07:53 AM

It's not the wind, it's the water.

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#7 Sphinxter

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Posted 17 September 2003 - 07:55 AM

Looks like shaving 40 basis points off the ten year didn't help the mortgage industry too much.

Do you suppose they scrapped the barrel a bit too hard this spring and summer?

NEW YORK (Reuters) - Applications for loans to buy homes in the United States rose last week, while the number of mortgage refinancings fell, according to an industry survey.

The Mortgage Bankers Association of America's measure of demand for refinancings, the refinance index, fell 15.4 percent to 2,438.5 while a gauge of overall mortgage lending, the market index, fell 5.8 percent to 726.7 in the Sept. 12 week.



#8 DrStool

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Posted 17 September 2003 - 07:55 AM

Is anyone else having a problem with typing in the box? Seems there may be a conflict with the java applet. Too much code on the page perhaps?

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#9 mksloth

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Posted 17 September 2003 - 07:58 AM

couple of items of potential interest - RJR cutting about 40% (2500+) of its workforce and simultaneously upgraded by somebody; Fedex reporting 2Q earnings in lower end of previously announced range of .80-.90/sh and FY earnings at 3.15 vs. estimates of 3.25/sh...

#10 GregFokker

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Posted 17 September 2003 - 08:01 AM

Takes about 2 seconds to load the page during which I can't type, but not a problem here. Looks cool.

...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech

Naturally we believe the govt numbers... and Boobus Americanus sleepwalks off the edge of the energy-crisis cliff clutching his shares of "Crisco", Yoohoo and GooGah munching on his Yum Yums and Ho Hos. Future historians will have a hell of a time figuring out what the hell Americanus neanderthalus was thinking and exactly what brought on his sudden demise... - Henny Penny

Well, good night everyone. I gotta go lube up for tomorrow's regular end-of-week Gold Slapdown and Stock Index Bear Punishment Rally Weekend Greenprint. ...Probably another Shock-and-Awe Gap-Up-Open and Wire-to-Wire Meltup Runaway Bull Charge Mo-Mo Spike to Fresh New All-Time Lifetime Highs, culminating in a 4:15 yelping scalded dog runoff with panic short-covering and legal not-held bad double fills due to fast market conditions, plus quote system freeze-ups and trading platform lock-outs along the way. *yawn* typical gov't Friday. - Shorty


#11 fxfox

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Posted 17 September 2003 - 08:02 AM

Is anyone else having a problem with typing in the box? Seems there may be a conflict with the java applet. Too much code on the page perhaps?

yes same here, i was able to zoom in, but that was all.

I am happy to live in a country where we dont have such tornados and so on, it is really a mess what happens form time to time in the US, hope nobody gots hurt and that the damage will be repairable.
'patriot' is formed with 'patria' and 'idiot'

#12 fxfox

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Posted 17 September 2003 - 08:04 AM

can we place bets? I place 100 bucks that virgina will get blown away. up to canada or so!

:lol: :lol: :lol:
'patriot' is formed with 'patria' and 'idiot'

#13 Ned38

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Posted 17 September 2003 - 08:08 AM

Well KROL warned------RJR warned--------Dupont warned -----New York Times warned---------and Fed -Ex warned

I figure the Nazz oughta hit 3K by noon :lol:

#14 EasyAl

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Posted 17 September 2003 - 08:09 AM

yes same here, i was able to zoom in, but that was all.

I am happy to live in a country where we dont have such tornados and so on, it is really a mess what happens form time to time in the US, hope nobody gots hurt and that the damage will be repairable.

According to the logic of Wall Street, massive damage by tornados is bullish because fed will keep money loose, government will increase spending and destroyed home and properties will have to be re-built. They all are good for GDP.

#15 fxfox

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Posted 17 September 2003 - 08:16 AM

yes same here, i was able to zoom in, but that was all.

I am happy to live in a country where we dont have such tornados and so on, it is really a mess what happens form time to time in the US, hope nobody gots hurt and that the damage will be repairable.

According to the logic of Wall Street, massive damage by tornados is bullish because fed will keep money loose, government will increase spending and destroyed home and properties will have to be re-built. They all are good for GDP.

hmm, thats a mater of discussion. In germany old people often say "WE did built up the country after WW II", i say "yeah, but first YOU did destroy it!"

there would have never been yearly GDP rises of almost 8% in germany if there wouldnt have been the destruction.
'patriot' is formed with 'patria' and 'idiot'





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