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Did Someone Just Leak QE 2.0? Dollar Suddenly Can't Find A Bid
Did someone just leak QE 2.0? More importantly, why are stocks barely budging? Are all correlation models truly broken?
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yeah, wow, some sudden big moves
Well, X is sure as shit correlating... must be optimism about all those new high rise office, condo and hotel/resort complexes they'll be buying steel for... or the replacements for all the side railed, rusting railcars they'll be buying, or the zillions of new Capesizes and ULCC's the dry bulk and oil shippers will be buying... oh wait, it must be all the new GM cars those unemployed folks are gonna be snapping up. Oooh oooh, maybe Imelt's getting back in the toaster oven business....
interesting. oil up a little but you would think it would have took off. Gas prices are about to be the O teams worst nightmare.
you're right. given the quick move down in dxy one would've thought oil would react more to the upside. maybe it will later, although it is up 1% or so off the lows.
You should watch Earth2100, it was on the History Channel last night, very interesting thoughts on what may happen through the century as population and pollution rise while natural resources diminish. Its very interesting how it puts the current time and last 50 years in a very prosperous light which cannot continue and shows how this could turn into extreme chaos and a global commodity crisis. You all should check it out, either on TV or on their website (don't know if it is on there or not yet, but will be at some point)
Let them all fail,
It must be nice to be young and dumb. This drivel that
you are talking about has been on PBS documentaries proposing the end of the world for at least 40 years. Back in the late 60s they were telling us the new Ice Age was coming. Then another idiot doom and gloomer was telling us that the world could not support more than 3 billion people and that we were all going to starve. You do realize that we have a lot more than 3 billion people already. Then in the late 70s they ( being the liberal socialists) started the global warming hoax. Anyone that was as interested in these theories as you are could easily spend a couple of hours reading articles written by real scientists ( as opposed to hoaxers) and seen behind the pure load of BS that the hoaxers were proposing.
Nice argument.. Lets see.. Because some claimed another ice age was coming in the late 70's certainly means we have unlimited resources such as oil.. Thansk for your logical rebutal to the issue of resource constraints. Cant wait for your next post
Hey Anonymous, you better stay anonymous or I will come over to your house, drag you out into the street, and bitch whip you to an inch of your life. There are currently about 6.5 billion more human beings on the earth than need to be. What possible purpose do all these people serve? Worse yet, the stupidest, unhealthiest, and most incompetent people are breeding the fastest --- you are clearly evidence of this.
"What possible purpose do all these people serve?"
Great Point.
I suggest you ask this question again, while standing in front of the bathroom mirror holding a loaded, cocked 45 to your temple.
Your distain is entirely reflexive, btw.
Learn to enjoy life. That's what the other 6,699,999 billion of us are trying to do. It is an end in itself.
Social engineer.
to comment left by: Reductio ad Absurdum
I think you had better read Zerohedge's posting rules before posting stupid comments like this. It makes you look juvenile, and is also illegal.
Oviously reducto is absurd. He clearly has no idea who he is. Once you begin to investigate the self you cannot help but see the connection betwixt us all. Our bodies merely the link needed to be at this site. Drop some acid, suffer a little, in your case a lot to gain the humility to respect others. You sir , are merely human!
yes many more than 3 billion people. and half of all the world's population live on less than $2 a day. that may not be starving but it is closer than i want to experience. you may be different (you seem so brave and smart).
1)The age of the universe is estimated to be 15 billion years. Himans have been around for about 40,000 (not sure) we have gone from radio waves to the ability to wipe out all life on this planet in less than 100 years.
2) despite the age of the universe we have detected no sign of intelligent life. therefore likley answers are 1) we are unique 2) intelligent life arises but kills itself off as it is an evolutionary dead end. the span of this happens quickly enough so that the presence of intelligent life from radio waves to destruction is fast enough that it can't be detected in the overall life span of the universe
You Chose
The nature of all life is to expand until limited by outside influences. The world is a finate petri dish. As of this point tecnology has increases fast enough to support the human race but with ever increasing effect upon the environment. At some point the resources of the petri dish run out. period. With the advent of technology we have the ability to alter our environment faster than we can evolve to it. what is the eventual outcome?
The issue is mute, and the outcome certain it's only a matter of time and causation. To believe anything else is foolish. To believe overwise assumes that the wheel will never turn up on one specific number. It has to only fall on that number once. In contrast to believe otherwise means the wheel never falls on that number. I believe the fact that we have found no real evidence of intelligent life in the universe that is 15 billion years old speaks to the dead end evolutionary model that intelligence is. The evidence speaks for itself
That was the dumbest thing I have every watched. GW nut jobs all of them. Good thing I only watched parts in between BCS game or I would have killed that last brain cell. you know the one that never dies!
Yes Sir! We are breaking through $3.00 a gallon 100 miles west of Denver. Not much competition out here though. All the fuckers have coffee together a couple of times a week.
When big markets go north of $3.00, you are going to hear some screaming.
You must be joking. The entire Bay Area has been over $3.00 for months. In fact most of the west coast has been.
We (I live there) don't really count, as CA is always about 25 cents over the national average seems to me. Something about our special fuel formulation (yeah right) they get to charge us more.
cougar
Anon,
Yeah, but that's Kali..........it's to be expected.
Sounds like ski resort country where you could throw it to $6.00 a gallon, still get customers, and have no need for gated communities.
I don't think a 78 to 77.4 drop in the DXY is enough to draw any conclusions from. But the long-term trend for the dollar is down. Sarkozy was openly calling for an end for the dollar's dominance yesterday--that won't help the DXY catch a bid.
http://www.rte.ie/business/2010/0107/dollar.html
A weak jobs report pushes back the date for a rate increase and pressures the government for more stimulous. Both of those things are dollar negative. But how long will this little move last?
QE 2.0 is a given. Expecting afternoon liftoff.
Magic 8 Ball says:
"All signs point to yes"
http://www.businessweek.com/news/2010-01-08/americans-oppose-initiatives...
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
This quote seems to have omitted the "forceful" part right before "conversion"
There are very few things that would really get the attention of everyday people and motivate their fat asses off the couch. This is one of them.
I would love to agree with you, BUT... based on my conversations with various people, I think you would be unpleasantly surprised to find out (1) how few people actually have enough money in their IRA/401k to actually provide any meaningful support for their retirement, and (2) of those people who do have 6 figures in their IRA/401k, how many of them are so shell-shocked from the last 10-12 years of market performance that they would gladly take a guaranteed 2-4% return (not realizing the effects of inflation that will make it 0 or negative on an inflation-adjusted basis) over the risks and rollercoaster ride of stock funds.
While that is true of many, there are also many millions more with $20K - $500K that have been sitting in their stinking piles of US equities and MMAs (which are also a target of this administration). This is yet another not-so-subtle splash of cold reality on the people that yet lay asleep. Many ignorant to the realities of the financial coup that took place were just shaking their heads in denial and you still have a whole generation that believed the government was there to help. When one takes away the last noticeable point of paper and digital money away from the natives, one may just ignite the fire that has been smoldering in the minds of the people.
I think this shot across the bow of the American public will just create another wave of average Joe's to put down their beer, hotdog, and football games to find themselves a pitch fork with a march towards Wall Street and Capital Hill.
I just wonder why this didn't bolster the dollar's position. Wealth confiscation is often seen as a point to make-up gaps in government spending on the short term and creates another revenue stream for the theifs. Should be good for the dollar right?
This American got forced into an annuity long ago by her employer. I have six figures trapped in there and I can't get it out until I am fired from my job, and then they divide it into 10 payments over 10 years, taxes and penalties...
Only good thing I can say about it is that I never paid into it. But yeah, you should be pissed. Hearing this is like me telling you to come live my future retirement.
THAT IS WHY I AM BUYING GOLD.
I feel helpless. SS won't be there and they are inflating my hostage account's value away from me.
Born 1964.
I am almost to the point of basically cashing 200k or more of IRA out and saying eff you IRS. I just need a brazilian wife and a couple plane tickets
I cashed in my IRA in 2008, a bit over 100k. Almost everyone told me NOT to do it, and I paid a boat-load of taxes (inc. big cap gains).
Still, I now have no worries about higher taxes coming on that money, nor worries that it could be seized (forced buying of US Treasuries a la Argentina).
If anyone wants out of their IRA (etc.) think about doing it real soon while you can.
Those of you who have seen my comments know I am two thumbs up on gold!
Damn, you're Gen Jones. Almost as bad off as me, Gen X...sucks following the Boomers. (No I don't hate the boomers but damn, there were just so MANY of them, kinda didn't leave a lot of surplus for the next two generations after them you know!) :-)
That's why I'm buying gold too. And diligently trying to rescue as much of my income as I can from a parasitic government. Our '401k' equivalent is called 'superannuation'. It is mandatory for every employee to pay into their superannuation plan, which is, you guessed it, run by halfwit investment managers who siphon off fees coming and going. You get a small array of poor choices of plan handed to you. Choose door no 1, 2, or 3. Lose some money, more money, or a lot. At least the 'buy-and-hold' gold plan means I can afford to enjoy the price dips, and puts me back in control of my own dough. :-)
Working on arranging things so that my small trading business (has one client, me) can set up its own superannuation managed by moi. That's the goal, anyway. Then it's just a matter of rescuing whatever's left from the previous bad plans...it gets complicated. But I'm looking forward to the satisfaction of screaming at the manager and withholding admin fees when she makes dumb investments on my behalf. ;-) That alone will be an improvement over today.
My parents were of the Silent Generation. Their retirement was nice and simple. Those were the days.
I didn't know I was a Jones! I'm so Jonesin'! I always thought I was a young boomer or old X. Some demographers cut off the boomers at 1961.
"Working on arranging things so that my small trading business (has one client, me) can set up its own superannuation managed by moi."
What a delicious idea, at least you are mad at you when you lose, versus a victim. And you running your own, as your own company...nice.
My "plan" from my employer is about as Nimble as a cruise ship. I suspect we are headed for an iceberg, but then, so is everyone.
Always love going through the threads and finding your posts. Now you have let me know you are younger than me, I'm going to have to cop some attitude with you like calling you "girlie" or something. And it explains why I like men a little older than you do and why I feel like a child molester with some of the young meat you post for me to feast my eyes on.
Carry on Reni Roo, carry on.
alas, I am a few years younger but only 4 (1968)...OTOH I will never have an 'age crisis' b/c I've always thought that older is MORE POWERFUL! just some of us know it but most of us don't...so if you age-patronise me know that I will just pass it down to my younger friends in a kick-the-dog sorta way.
hahahaha - I do reckon that over the age of 20 or so they're *all* men tho and will just have to look out for themselves!!! When their muscles are bigger than mine and they're a head-and-a-half taller they don't get the child molester excuse no more. :-D AND - the age of the wee young girls SOME of the guys on THIS blog drool over...my LAND!
It's funny to me how many Joneses seem to have got subsumed into the Boomers...but it's ILLOGICAL, dammit! They get 20 years and every other generation gets 10? They're numbrous enough already without that...that damn generation just wants ta take over everything.... ;-)
I believe it's (very) roughly so:
1936-46: silents
1946-56: boomer
1956-66: Jones
1966-76: X
1976-86: Y
I forget the next one. Wikipedia has a big article on Gen Jones. I could go look these dates up for accuracy but am too lazy just now...it's just easier for me to remember it's roughly ten years apiece.
Guy below thinks you're a dude. Girl, you need a makeover. I've been looking, the pickins' based on your concept, eh... take a peek and see if any of these catch your fancy...
http://images.buycostumes.com/mgen/merchandiser/61651.jpg
http://media.photobucket.com/image/female%20bitten%20vampire/moonlit-son...
http://2.bp.blogspot.com/_V7riZ1-IXMw/SsvBENqMDmI/AAAAAAAAAqQ/EX5w6DIYoj...
Don't think it would come up well, but fun...
http://thumbs.dreamstime.com/thumb_222/11991295537H598p.jpg
O mi gawd I love these...especially the first one! Love, love it.
(Except one of them says lesbian erotica on it and while I don't mind keepin' em guessing, my husband would prolly feel unappreciated. He's sexy enough that I try not to piss him off over little things.)
Alas. When a couple commentors here thought I was making a gay pass for them I tried to change my avatar a couple times before, and for some reason the picture just kept coming up the same one. So I've been technically frustrated so far.
Nevertheless, you have inspired me. I will have another go at it this weekend, maybe third time's the charm.
PS: And how unfair is it that Robo and some other guy commentors here can have boobygirlie avatars and nobody mistakes them for a girl! Wadda world.
What?
Do you mean to tell me Robo, Cowbell, etc are guys.
They should think seriously about using female pictures as avatars if they are actually men.
Just Sayin
Yes.
And those times they complimented you on a particularly pithy comment you made? Agreed, with a gratuitous adjective? Or said they liked the way the eyeholes in your bag avatar hung?
Those were gay passes. :-P
Refield,
Sucks to follow the Boomers?
Son, got news for ya............sucks to be one.
How would you like to have a double digit six figures taken away from your pay, and now they are coming after your 401K's?, and IRA's?
What maybe you need to think about is the BOOMERS, not quite there yet, they are taking (the IOUs') from OUR contributions(that were given to our/your parents), and giving them to folks that are not even Americans,or, have never paid in a dime.
You still likely are 12-20+ years behind me, how would you feel, if you were getting DOUBLE stroked?.
Because we are.............you want sticker shock, I can show you sticker shock.
How do you think WE feel?. WE did exactly as we were made to...........and now, Gen-X'rs, feel like they are getting screwed?.
C'mon.............at least look at it fairly.
PS: the BOOMERS are not the one's that screwed you, and me.......it's the same vultures that are in that 10sq mile shithole.
Hey Dos
I didn't mean hating on the boomers...sorry it came across that way. It's just my sense of humour, a bit dry for the net sometimes.
I agree, the boomers have it tough too. It sucks following a big crowd and being left with crumbs, but sucks BEING in that big crowd too and there is not anywhere near enough to go around.
I agree that Boomers were raised with a code, do the right thing and the system will do right by you, and all those who are trying to be moral and ethical are getting stabbed in the back for it. At least as an X I was raised to expect a certain level of treachery and distrust the system, if that's a good thing...and what really sux is that they show their true colours NOW at this late date, so close to Boomer retirement too, when you don't have time to change plans.
Peace to you. :-) We got common enemies, and it's not any *one* generation who's getting raped by certain treasonous enemies of the state, and those few traitors are from *all* generations. I think Geithner is a Gen X too. And Obama the sellout is.
Obama, August 4, 1961
Boom, ba, boom boom.
Sheesh. This is what I get for retaining a tossed-away comment in a mainstream article ('first Generation X President' or something like that) and not checking it out for myself! I apologise to my own generation for lumping them in with Obama.
(And yes - I got a personal disesteem for Obama b/c I was one of the people who was cheering around the world when he got elected. Drank a champagne watching the election numbers roll in on the Day. Really expected some frickin CHANGE. So it's definitely personal - I wuz taken in by another pretty face! - whereas if it was Bush or Clinton I would have just rolled my eyes right from the getgo. Fool me once, and never forgiven for the rest of my life...)
A fucking cat, I hate cats.
cause annuities need cash flow..a la treasuries...barf...
Once people do that, they can then step in, with they 10 year at say 3.5 and offer 5% from the gov if you turn it over and bingo...Social Security 2.0...
Then rates skyrocket and peoples retirement plans are worthless...
good lord...I gotta say Rush Limbaugh called this in 2008...
Aw, $h!t.
Of course, there will be some redistribution yet again from the savers to the others to generate the necessary public enthusiasm for this conversion.
There have been a variety of warnings about 401K and IRAs over the last year. One proposal before Congress is to move all 401ks and IRAs into Social Security that cannot be drawn out until retirement and then only as a retirement draw. In other words, you won't be able to pull it all at once. I pulled all my money out of 401ks and IRAs last year, paid the taxes and bought my financial freedom by the expense. I personally feel that 401ks and IRAs are upcoming targets and it might be more beneficial to bite the bullet and pay the taxes now before you are denied the right to withdraw your own money. If the last year has taught me anything it is that there is no end to the way these criminals will cheat you out of everything.
Cindy,
I think this a great idea, that way americans can support their country with ongoing financing. We definitely do not want this our gov to go unfunded, it might make all of our dollars worthless. Besides not one person in a hundred would even know a chunk of their 401K was being borrowed by the gov.
Maybe this has something to do with it?:
From http://market-ticker.denninger.net/
In a short conversation this noontime that CNBC apparently has omitted from their archives (Why's that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.
Where would they get this?
From your 401k and IRA accounts!
From Businessweek:
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!
JFC, I was ranting about this on TF months ago, Douchinger is again late to the party.
KD was talking about this last Spring. Maybe you were late to the party? <gasp!>
No, he wasn't. I was the main inflationist and seizure proponent on that forum for a couple of years under various usernames because he was banning anyone who was inflationist, believed in the "religion" of Peak Oil, and who liked gold
i quit douchelinger's board for the same reason....
the man has a bright light every now and then but
he is unhinged - a storm trooping nazi who was born
a couple of generations too late...
Okay, he's not as smart as you, get over it!
Most relevant quote from Denninger concerning the move on the dollar:
". . . if you're wondering what hammered the dollar starting at about 9:00 today, this is probably it. Such a "move" would free the government to further abuse the issuance of Treasuries rather than take necessary austerity steps and places us even further down the road toward a political and economic collapse."
Read the comment above. Listen to KD at your own risk. This guy has been on the wrong side of the trade for 9 months now and it shows. He gets shriller by the day. KD's had his 15 minutes. Hell, Dennis Kneale made him look like a doosh. That's hard for Dennis Kneale, so it says loads about Day Late Denninger.
KD lost me on this one:
http://market-ticker.org/archives/1091-Ten-Things-You-Must-Do.html
... but he's good with a grain of salt.
"but he's good with a grain of salt"
a wise perspective when reading anyone.
First time Douchinger banned me was for arguing the inflation case and that they would print or QE. This was like in 2007 or something.
Everything I argued would happen, did.
Then he banned me again for talking about the oil peak.
Even the last time I went back on there on a monetary thread, I had to deal with deflationist condescension from his acolytes who said "you are disagreeing with the host." TF is a cult forum. You toe the line or else you get gone.
People over there routinely bring stuff up far in advance of his doing so. But then he puts it in a TICKER and all his breathless nuthuggers proclaim how brilliant it all is.
accurate observations Trav.
confirmed here
KD is unhinged but it is a damn sticky site.
what made you go back under dif names after being purged(too)?
you're joking, right? kneale made him look like a douche? think you got that backwards.
kneale can make anyone look like a douche because he doesn't listen, interrupts, talks over people, bullies them, doesn't let them finish and doesn't rationally and logically follow-up on anyone's arguments. he interviews himself basically. i dont know why he hasn't been fired yet.
Agreed! He added that to his original post after I had already submitted above to ZH. Thanks for adding it on as it is very relevant...
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
According to Assistant Secretary Phyliis C. Ponzi
We are definitely going down the road of Argentina. First Argentina forced the banks to buy government debt. Check. We have done that, who do you think is supporting those auctions.
Then Argentina forced the citizens to buy government debt.
No doubt in my mind that is going to happen.
You know the DXY is making a major move when the Dollar Value Menu at Wendy's changes while you are ordering.
LMAO
Ha, Yea thats a good Poll
Will there be any "dollar menus" at fast food chains in five years?
Oh yes, definitely! Things like:
One chicken nugget
2oz soft drink
1/2 slider burger
1oz ketchup
thimble of french fries
packet of croutons
etc. etc.
I was thinking a stick of gum... but Wendy's doesn't sell gum.
Yet.
And the 99Cents Only chain in the West changed it's prices from 99 cents to 99.99999 cents....
Congrats Assetman, two idiots honored you by junking you. You gots some junk in your trunk! I thought the joke was cute. I will junk you to let you know how cute I thought it was! I'm number three in case you get more.
Much thanks... I thought the "junk flags" were funny as well, given the context.
I'll probably be banned though! :)
The modern day equivalent to the 2 cups of coffee story from Weimar Germany? :-)
Chick'n Balls "Priced to Market"
I like that!
For $1
3:01 PM: 0.971 Wendy's single burger
4.47 PM: 1.011 Wendy's single burger
You can run Quant algs on the normalized spread between single, double and triple burgers, too. I imagine Tyler Durden could come up with some powerful info. analyzing those spreads!
Mustard, mayo, relish...those spreads?
Very funny Joe!
LOL!
Conversely...
3:01 PM: $1.00 = Double Stack w/ Cheese
4:47 PM: $1.00 = 1.994 Stack w/Cheese
Sorry Assetman I flagged you too - I meant to hit "reply."
Reply:
I had a hankerin' for a Jr. (pronounced "hunior" by the Latino at the register) Bacon Cheeseburger last night. The previously 99c sandwich was now $1.29 and I had trouble finding that burger ("where's the beef?") buried underneath the lettuce on steroids.
Someone finally came to their senses. The dollar is worth shit other than legal decree on this soil.
For the last two weeks everything has traded in it's own world regardless of what is happening. As was suggested (I believe on ZH), I believe the US gov't is in buying stocks.
Particularly this week. In my opinion, the SPY has been pushed up not only directly but also by pushing down the SH and SDS. It seems as if the gang had determined that at these levels there is absolutely no space for any downward movement. The guy who was left in charge for the last hour of Dec. 31 has most likely been fired at this point :)
Since the November 2nd S&P price low, we've been up 31 out of 45 trading days. That's only happened 3% of the time over the past 5 decades.
We are all Socialists now.
What does socialism have to do with the idiocy currently going on???? This is cleptocracy at its maximum, allowed by people's individualism and idiocy.
socialism has everything to do with it...obama is
a socialist as are most of has mein kampf toting
staff....individualism and idiocy were the privileges
of the plutocrats...
without the enormous commitments of the socialist
state to both the people and the corporatists there
would be no financial crisis today...
socialism = kleptocracy
No, don't pass the neo-liberal US President off on us. As a card carrying Democratic Socialist in a European party, I assure you, President Obama is not one of us and calling him a Socialist just makes us look bad; we don't claim him. Truly, I say that I wish he was, but he's not - at all.
If he was a Socialist, he would have followed the Swedish model from '92 and nationalized all the TBTF banks, chopped them up, and resold them. NAFTA would be done away with. The joke of financial reform in Congress right now would have teeth to regulate the hell out of the financial industry, CDS's, CDO's, etc. There would be a forgiveness of student loan debt and mortgages. We would see a health care system much like the UK or my own VA health care. Wealth would be redistributed to the little guy not upwards to Goldman Sachs.
No, President Obama is not a Socialist. None of his policies even resemble socialist policies. You could say "... without the enormous commitments of the neo-liberal state to both people and corporatists there would be no financial crises today..." and be more accurate.
And by the way, Mein Kampf is very well known and is in fact outlawed where I now reside. I seriously doubt that White House staff "tote" Mein Kampf around. We have people here who tote it around illegally. These people, of the NPD, are extremely dangerous. They are the exact opposite of socialists, they are in fact the direct descendants of the actual Nazi Party.
I realize this is a site for traders and I will not be looked upon kindly as a self-proclaimed socialist. But if you are going to beat up on us, at least get it right. And don't pass off the American President as one of us.
Isn't the proper name of the Nazi Party Nationalsozialistische Deutsche Arbeiterpartei?
So are they really the opposite of Sozialisten? You cannot have socialism without control whether through the government directly or through fascist collaboration with industry.
Two sides of the same coin in my book
No socialist ever called for the poor and middle class to subsidise the rich. It's supposed to be the other way round in socialism. What we have is fascism, a melding of corporate and political power seeking to maximise their gain at the expense of society as a whole.
Hmm, no fascist ever called for the rich to be subsidized by the poor either, this is just something that happens sometimes.
Sometimes?
The rich being subsidised by the poor is know as 'Normal' or alternatively 'Reality'.
'Capitalist' America, Communist China, Ancient Rome, Egypt - pick a time or a place and the rich were doing just fine at the expense of the poor.
If I want to play at class wars for the fun of it, then I would say something like "It is the middle class that gets screwed by both the rich and the poor. Middle pays taxes, rich and poor don't, Rich and poor get bailouts, middle class does not."
But in reality, I won't do class wars. There is a them, and they is scrooooin' us all.
I have a bumper sticker stuck to my monitor that a friend gave me
"I work hard because millions of people on welfare depend on me"
You might adjust your sticker to say "I work hard because millions in XX XXXXXX banker welfare depends on me."
On behalf of a freeloader, I wish to show my appreciation and say thank you for your tax dollars that support me through my Veterans Administration disability compensation. Thank you for your hard work, I do depend on you.
If you are for real, you already worked waaaay too hard for us. You do not depend on us, we depended on you.
People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.
George Orwell
Yep, for real. Fractured the neck and lumbar on a bad night jump at Fort Bragg. It's gotten worse in the last decade so my claim from 2002 just now has reached the Board of Veterans Appeals.
But I am dependent on the check I already get from the VA. For an additional kick in the balls, I chose a few years ago to live in the Euro zone. Can't afford to come home now.
That's why I joined this site - I know nothing of economics or finance but needed to understand how the Euro is demolishing the small dollar fixed income I do have. I've been learning a lot but it's all bad.
I hope you hook up with a poster named MILES KENDIG here. He has injuries like you describe (from too many jumps with too much equipment) and an awareness of things financial (and perhaps spiritual) that makes his insights useful for us all, but most particularly for you. Miles is in chronic pain, as a result, he is not as regular here as I might like to see. Tell him MsCreant said to say hi if you see him and give him a sentence about your situation.
Welcome to the blog. I will never complain about my tax money going to you. NEVER. I just wish we did more. I also wish that I knew you had defended us jumping out of that plane, versus being exploited so that some banker or oil man could make an extra buck.
Peace, and look for MILES KENDIG
Thanks for the welcome, I'll keep an eye out for him. I mostly lurk anyway because I don't have the expertise to add to the conversation.
Dittos. God bless you for your service
Rich don't pay income taxes?? Top 5% pays two-thirds of all income taxes. Bottom-half pays almost no income taxes (3%). Seems the middle comes out just fine.
I will need to check. We both may be right. I think the top 1-2% pay little to nothing, then the next teir down pays a hell of a chunk. I seem to remember ZH posted something on this a while ago. Something like 49% of folks are supporting the rest. That was my point about a middle class.
I think what you're referring to was a post about how 51% of people have close to no tax burden.
That essentially we're heading fast towards a tax paying minority, which eventually leads to taxation without representation. We know where that ended up last time.
Anyone willing to be labeled a socialist always has an agenda on behalf of the rich. Never trust someone that promises to fix the situation by creating more laws. I can never get anyone that advocates Socialism to either define what it is or convincingly describe how it is different than theft at the point of a gun.
Soon the arrests will come - if they haven't already started.
We are in the beginning stages of the USSR - the only differences are that: 1) we are not a defenseless population (see the 2nd Amendment) 2) everyone already knows we have torture experts, and [have] use[d] them openly 3) We don't have a "five-year plan" yet.
Wait, isn't that just the "stimulus"?
http://en.wikipedia.org/wiki/Five-Year_Plans_for_the_National_Economy_of...
http://en.wikipedia.org/wiki/Cult_of_personality
http://en.wikipedia.org/wiki/Social_fascism
So anyone standing in the way of full-blown communism was a sissy-fascist.
I am glad to see "fascism" disscused more often as a soci-economic system, rather than just a "hate-word" to describe a percieved enemy.
As I tried to come to grips with what occured after Bear Sterns, I was able to realize that we were entering a fascist state. I did not think of it in terms of bad/good, but just as an objective realization of events. This is what Mussolini wanted, and we are getting.
I had no idea that Obama would do anything other that promote what Bush started when he abandoned free-market principles. I am not wrong yet. Endless war, merging of corporate and private enterprise with the state, and the ultimate welfare of the "state", are still guiding principles.
That, in itself, is not necessarily evil, but history has shown that it ends up like that, and a major war is what is needed to free the "state" from the foreign "oppressors".
It usually (always) ends badly...
i agree that fascism properly describes the amerikan
state and that using it as invective is not
helpful....
on the other hand, your naivete about obama is
astounding....obama is a tool of the plutocratic
fascists....
but i strongly disagree with your amoral understanding
of fascism....it is the pre-eminence of the state
over the individual and protection of the elite
which i find deplorable....i hope you suffer
endlessly under your "not necessarily evil" system
of government....
"the pre-eminence of the state over the individual" : you've just described communism
"protection of the elite" : not really a form of government by itself, but a side effect of plutocracy, oligarchy, or plutarchy
"Fascism" has no formal definition. There have only been two states in history that described themselves as fascist: Nazi Germany and Italy under Mussolini. Some defining characteristics of these states:
(1) anti communist (fascism came about as a reaction against communism; read about, for instance, the Munich Soviet Republic)
(2) strongly militaristic, both in patterning civilian life along military lines and in a desire for war and conquest
(3) ethnic or national identity
Btw, all three of these characteristics can be seen in modern Islamic militancy.
"Fascism should rightly be called Corporatism, as it is the merger of corporate and government power." Benito Mussolini ...
can there be any argument?... that's what we have in amerika isn't it?
I think the american system should be called Frankensteinism. Right foot (bush sr.) CRUNCH!! left foot (clinton-gore) CRUNCH!!, right foot (bush-cheney) CRUNCH!!, left foot (obama) CRUNCH!!............................. . The continuity is perfect in a dark way.
Totally!
It's so freaky I just can't take my eyes off of it. Alas, it will lead to my destruction.
Ah, we are back in agreement, my friend.
I firmly believe that socialism is the upper class rebellion against freedom. The wealthy and connected can shield their wealth (or even profit) from the government schemes.
The regulations prevent others from becoming rich, thereby protecting the upper class' exalted status.
Socialism is a tool to keep out the hoi polloi and their desire for meritocracy. That's why so many wealthy people support socialists and the Democrats.
Socialists? Not quite yet.
How about chattel in an emerging Facist state?
+1
+2
we need a comments rating or an "I Agree" or even a damn 'nonjunk' button...
Maybe dollar knows Timmay gone.
Isn't FanFredron expanding their balance sheets a form of QE? They can just onboard more mortgages so less need and volume of securitization, or something like that right?
No, the expansion of the FNMA/FHLMC balance sheets is not "quantitative easing".
The FNMA/FHLMC balance sheet limits need to be expanded because there is going to be a 'shitload' of defaulting mortgages coming out of existing MBS pools and back onto their balance sheets in 2010.
When the Fed announces (soon) that THEY are going to extend their Agency MBS program beyond March 2010, then THAT is QE 2.0
Trav7777, Douchinger? This guys provides excellent analysis day in and day out and like ZH writers should be considered a revolutionary pioneer and a patriot. This is an historic, complex time in our country's history and financial markets, and despite how sure everyone is of their opinion here, no one has a crystal ball. Just look at the great inflation/deflation debate that rages here and everywhere today - both sides with excellent, well thought out arguments. Whatever the eventual outcomes of decades of horrendous monetary poicy and failed politics, are we not all on the same page here? Why must we hate so?
Flag-waving hyperbole aside, I agree.
While Denninger may be many things, stupid isn't one of them.
Anon- there is a big club of angry people that got kicked off KD's forum. They'll get over it. Lets focus our anger at the folks that deserve it.
wait...weren't you the girl who ruined it for EVERYONE?!!
This sounds like a interesting story. What are you talking about?
Alas, nothing salacious. Just referring to her old avatar which I kinda got a kick out of...
Yup, thats me Ren. Decided to put up the Rush avatar for fun.
Yes +1
Denninger is a hero in my book. He may be late , i dont know, am not much for calenders or clocks.
I do know he runs the numbers, does the research and presents the truth to us without begging for alms. To those of you so freely critizing him, what have you done to educate our public?
merehuman@live.com 1mealperday on utube
I post my email and utube address as a way of saying here i am and this is what i stand for.
Anominously hiding has a good purpose, but at this point i am willing to go to jail to defy our manipulative government.
The point is we all must make a stand some time. Now is good for me.
merehuman, you're my kinda guy. hard times bring out the strength that was sleeping in many of us. mixed blessing, but.
I agree with you re Denninger. And as flawed as he is (too quick with the emotional reactions to some things), I find him very informative. I wish more in government were like him, rather than the uninformed, pissweak and bought-off corporate fuckwits so many of them are now. at least the guy has principles.
MsCreant recently opined, if I remember correctly: [I don't give a fuck if the government knows who I am.]
Quite eloquent considering our circumstances.
-----
Separately, we're dealing with psychopaths here. If a law-abiding citizen no longer has the right to be left alone then we really only have one civil right left to protect us - no need for proactive behavior. Don't imagine yourself in jail - we need you out here! ;-)
"The beauty of the Second Amendment..."
Great statement, but no evidence exists that Thomas Jefferson ever said it. Seems to have been invented by Matt Carson in his book "On a Hill They Call Capitol: A Revolution is Coming" (self published in 2007) since he's the only person to ever have referenced it. Or maybe Carson possesses private letters of Thomas Jefferson that no one else has ever seen (lol)?
This is not evidence, but this announcement references it in a post from Tennessee Volunteer Militia News Letter, February, 1996. Use your edit function to search for the word beauty, it will take you there.
http://www.constitution.org/mil/tn/mltn0162.htm
His ghost said it in 1913 - but it didn't reach critical mass until 1994 when Clinton declared "War on inanimate objects that project copper and lead at high velocities".
Or was it this mass murder that got open-eyed Americans really pissed off?
http://www.youtube.com/watch?v=5KdZgk9d6WU
Just watched it all. There are not enough "views" on that. Not at all. There is a stigma associated with looking into these things (we bandy about the terms "tin hat" and "conspiracy theorist" for instance) that serves to keep these kinds of things burried.
I am really quiet just this minute. I suspected things were not kosher when the news was coming out even then. But I didn't think the evidence was this clear how problematic the whole suicide explanation is.
hate is such a strong word...
If the guy didn't run a cult forum where he bans dissenters, then I wouldn't call him a douche.
The last time I was on there I got a 30-day posting restriction in Soft Commodities because he told me Peak Oil was religion and I responded with "you're right, KD, oil production can continue growing exponentially forever."
The dude can't stand bein shown up, so I call it how I see it. The first time I got banned, I had half a dozen posters send me PMs sayin I had backed him into a corner in the argument but to watch out because he's known to sack accounts. I ghostwrote stuff under others' accounts that ended up in his freakin tickers...did I get an attribution? No. So, yeah, Douche.
s'OK...I for one am glad you did get banned b/c I don't read that forum (just the tickers), and I do read this one, and I learn a lot from your inflationist perspective here - so you see, it all worked out! :-)
trav7777,
It's his playground and his football, so he can pick it up and go home when he doesn't like the score.
Is it right? Is it fair? Is it becoming of a man with a legitimate argument in the debate?
No, but he pays for his playground, so he can be a pussy...
So basically you are saying I am right to call him a douche?
So start your own blog and see what people start calling you. Whiner comes to mind.
Gee I dunno perhaps you got banned for multiple IDs. Its his sandbox, so yeah unfortunately, if he doesn't like you, you get kicked out. You have a right to call him that. People have a right to disagree. KD has a right to kick you off.
I have also disagreed with KD on his board and he has never banned me, but I don't run about a thread posting in a manner that tries to force him or anyone else to agree with me or validate my opinions. I really don't care if he agrees with me or not.
One things I do like about that board is that he doesn't let people trainwreck a thread with irrelevant drivel. (I'm not talking about flat out disagreements)
"One things I do like about that board is that he doesn't let people trainwreck a thread with irrelevant drivel. (I'm not talking about flat out disagreements)"
Something this site might embrace to a degree. The kill the bankers / kill the Fed / kill GS / kill the insurance companies etc rants are moronic.
Great idea to take 401K On the Thirteenth Day of Christmas our government gave to us: a proposal for the entire American public to "vote NO" on growth, take retirement savings out of equities and place the savings in fixed income instead!
WOW. What a boneheaded move courtesy of team Obama. So not only do we end traditional IRA's and 401Ks we withdraw funds from the stock market precipitating the next leg down to Dow 2,000. We remove liquidity from one of the most worthy aspects of the stock market: funding corporate growth through public ownership. We also place retirement funds into "annuities" (read defined-benefit plans redux) so that inflation can make hamburger out of retirees.
Change!
Ever heard of the term "crowding out"?
This is what "crowding out" looks like.
The Feral Government eventually consumes ALL the nation's financial resources.
We are now about three miliseconds behind Argentina in that regard.
This is exactly what is going on, yes. You can't do anything entrepreneurial anymore without getting either a government grant or some earmark from Congress. It's all fascism now.
when fanfred buys back a non-performing loan at full price, then they are effectively doing a qe through the backdoor.
That depends on where the money to do the buyback came from. Hard to trace.
Fed buys Agency MBS with QE pixie dust. Bank selling Agency MBS to Fed uses proceeds to buy Treasury Bonds. Treasury Bonds plug hole in Federal Budget caused by Fannie/Freddie portfolio losses.
Yeah, I guess you could then call it QE.
Gold : The one true protector of wealth.
May soar next week on uncertainties and dollar-bearishness
the all in one market is simply out of money, but they can afford to wait, and see how much of the QE actually starts migrating into the real economy. the bears have no part in this economy, until such time as the train slips off the tracks again. this is the wait and see season.
Argh... So I'm hoping to move back to Australia in a few years. I left AU when the $AUD wasn't worth shit (and my $$ were all $AUD) and now it's looking like if I ever get back there I'll be going with a bunch of $USDs that aint worth squat.
Welcome home. Enjoy NOT being in the US or the UK or Europe. Enjoy and fear the fast-growing influence of China. :-)
If your USD are worth jack you'll fit right in. Nobody here has any money anyway. Unless you're a banker or a property developer, and the days of that second group look numbered...but the bright side is, the sun is still bright, the water's still warm, the BBQs still run most of the year, and most of us have yet to grasp the difference between income and credit, so we're not too angry...yet. :-)
My sad hope at the moment is that Australia has a bit of a bubble burst of it's own. Sorry to be wishing that on everyone back there.. At least then I could relocate onto some cheap real estate with some $$ that are worth something :).
I had dinner with a mate last time I was back there (dec) and he asked me whether I thought he should buy a place. I'd just seen on the news how real estate prices had skyrocketed by some absurd % during that quarter, so I asked him if his salary (or anyone elses he knew) had also skyrocketed by a similar amount... Unsurprisingly his answer was no, but so it marches on. The hype in Melbourne and surrounds is starting to look an awful like what went on here before the SHTF.
But you're right... Even if my $$ don't count for much when I do head home I wont have to shovel snow off my driveway, somewhere within cooee will sell decent fish and chips on a Friday night and my wife will be the one with a funny accent for a change.That's all worth something.
heh - why would you be sorry to be wishing a bubble burst on us? I wish for that EVERY DAY. Then I could buy a house. I'll be damned if I'm jumping into a debt noose for the rest of my life for something as basic as a roof and four walls, so that Nick Moore (CEO of Macpiggie bank) can haul home heaps of bonus bucks.
If it's any comfort, real estate started down before Rudd started his stupid stimuloss. Now that the RBA is raising rates (yay RBA) and Rudd says he's pulling the stimuloss back not to revive it (yay Rudd), now we're getting a bit of religion and prices are starting to tip back down again. So...a bit late...better late than never. I look forward to the discipline of fiscal responsibility, which the bond market seems to be imposing on us these days. Here's a recent article about house prices here. Take a look at the home page of this blog - I pimp it all the time but it's really very good:
http://www.whocrashedtheeconomy.com/blog/?p=663
Unfortunately, coming at a time of growing unemployment and credit contracting, a bit of a pickle for quite a few friends of mine who firmly believe "real estate always goes up...In Australia...b/c of hordes of wealthy immigrants don't you know." I tried to tell them that even IF that were true, and even if those wealthy immigrants who don't need JOBS buy up alllll the houses, still they'd have to be SELLING their house, not BUYING it, to get the benefit of that - and then of course don't buy another one.
But - guess I was speaking French. O well. The weather is still brilliant and the people are still fun & nice. (I'm a bit harder-edged than most!)
Besides, this way my husband & I get to point & laugh at the RE ads when we visit our local bank branch. You'd be surprised how easy it is to get immediate customer service from a manager when you do this. Try it - next time you're in a bank branch, point & laugh out loud at the posted RE ads, snicker together over all the ways those places are SO NOT desirable at anything like those prices and what moron would willingly take on half-a-million debt for THAT...and a manager will pop right out of his office and ask if he can help you. Works every time! In an asset bubble, ya gotta enjoy the little things. ;-)