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FOMC Announcement: $600 Billion, $75 Billion/Month, $110 Billion Including QE Lite, 35% SOMA Limit Removed, $27.5 Billion Weekly POMO, On Run Rate To Monetize Entire Budget Deficit
For immediate release
Information received since the Federal Open Market Committee met
in September confirms that the pace of recovery in output and employment
continues to be slow. Household spending is increasing gradually, but
remains constrained by high unemployment, modest income growth, lower
housing wealth, and tight credit. Business spending on equipment and
software is rising, though less rapidly than earlier in the year, while
investment in nonresidential structures continues to be weak. Employers
remain reluctant to add to payrolls. Housing starts continue to be
depressed. Longer-term inflation expectations have remained stable, but
measures of underlying inflation have trended lower in recent quarters.
Consistent with its statutory mandate, the Committee seeks to
foster maximum employment and price stability. Currently, the
unemployment rate is elevated, and measures of underlying inflation are
somewhat low, relative to levels that the Committee judges to be
consistent, over the longer run, with its dual mandate. Although the
Committee anticipates a gradual return to higher levels of resource
utilization in a context of price stability, progress toward its
objectives has been disappointingly slow.
To promote a stronger pace of economic recovery and to help
ensure that inflation, over time, is at levels consistent with its
mandate, the Committee decided today to expand its holdings of
securities. The Committee will maintain its existing policy of
reinvesting principal payments from its securities holdings. In
addition, the Committee intends to purchase a further $600 billion of
longer-term Treasury securities by the end of the second quarter of
2011, a pace of about $75 billion per month. The Committee will
regularly review the pace of its securities purchases and the overall
size of the asset-purchase program in light of incoming information and
will adjust the program as needed to best foster maximum employment and
price stability.
The Committee will maintain the target range for the federal
funds rate at 0 to 1/4 percent and continues to anticipate that economic
conditions, including low rates of resource utilization, subdued
inflation trends, and stable inflation expectations, are likely to
warrant exceptionally low levels for the federal funds rate for an
extended period.
The Committee will continue to monitor the economic outlook and
financial developments and will employ its policy tools as necessary to
support the economic recovery and to help ensure that inflation, over
time, is at levels consistent with its mandate.
Voting for the FOMC monetary policy action were: Ben S. Bernanke,
Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A.
Duke; Sandra Pianalto; Sarah Bloom Raskin; Eric S. Rosengren; Daniel K.
Tarullo; Kevin M. Warsh; and Janet L. Yellen.
Voting against the policy was Thomas M. Hoenig. Mr. Hoenig
believed the risks of additional securities purchases outweighed the
benefits. Mr. Hoenig also was concerned that this continued high level
of monetary accommodation increased the risks of future financial
imbalances and, over time, would cause an increase in long-term
inflation expectations that could destabilize the economy.
Statement Regarding Purchases of Treasury Securities
On November 3, 2010, the Federal Open Market Committee (FOMC) decided to expand the Federal Reserve’s holdings of securities in the System Open Market Account (SOMA) to promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate. In particular, the FOMC directed the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York to purchase an additional $600 billion of longer-term Treasury securities by the end of the second quarter of 2011.
The FOMC also directed the Desk to continue to reinvest principal payments from agency debt and agency mortgage-backed securities into longer-term Treasury securities. Based on current estimates, the Desk expects to reinvest $250 to $300 billion over the same period, though the realized amount of reinvestment will depend on the evolution of actual principal payments.
Taken together, the Desk anticipates conducting $850 to $900 billion of purchases of longer-term Treasury securities through the end of the second quarter. This would result in an average purchase pace of roughly $110 billion per month, representing about $75 billion per month associated with additional purchases and roughly $35 billion per month associated with reinvestment purchases.
The Desk plans to distribute these purchases across the following eight maturity sectors based on the approximate weights below:
Under this distribution, the Desk anticipates that the assets purchased will have an average duration of between 5 and 6 years. The distribution of purchases could change if market conditions warrant, but such changes would be designed to not significantly alter the average duration of the assets purchased.
To provide operational flexibility and to ensure that it is able to purchase the most attractive securities on a relative-value basis, the Desk is temporarily relaxing the 35 percent per-issue limit on SOMA holdings under which it has been operating. However, SOMA holdings of an individual security will be allowed to rise above the 35 percent threshold only in modest increments.
Purchases associated with balance sheet expansion and those associated with principal reinvestments will be consolidated into one set of operations to be announced under the current monthly cycle. On or around the eighth business day of each month, the Desk will publish a tentative schedule of purchase operations expected to take place through the middle of the following month, as well as the anticipated total amount of purchases to be conducted over that period. The schedule will include a list of operation dates, settlement dates, security types to be purchased (nominal coupons or TIPS), the maturity date range of eligible issues, and an expected range for the size of each operation.
The Desk expects to conduct the November 4 and November 8 purchase operations that were announced on October 13, and it plans to publish its first consolidated monthly schedule on November 10 at 2:00 p.m.
Purchases will be conducted with the Federal Reserve’s primary dealers through a series of competitive auctions operated through the Desk’s FedTrade system. Consistent with current practices, the results of each operation will be published on the Federal Reserve Bank of New York’s website shortly after each purchase operation has concluded. In order to ensure the transparency of our purchase operations, the Desk will also begin to publish information on the prices paid in individual operations at the end of each monthly calendar period, coinciding with the release of the next period’s schedule.
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I had written "sell the news" but now that it's been 'upped' maybe not? We in line with japan's methodology yet?
yep, the last 12 (and the next 24) months is all about saving the FACE.
p.s. Could someone please e-mail / fax a definition of a complex system to Big Ben which should include two main attributes below
a) Limited ability to forecast the behavior of a complex system, such as a market* economy.
b) Limited ability to control a complex system, such as any form of economy.
*The behavior of a planned economy is easier to forecast - ether deficits for certain goods or unsustainable & massive "economic" waste and inefficiency.
I apologize for jumping in line, but I want to make a suggestion- hopefully others can build upon it.
Encouraging revolution against the US government is illegal, but it is not illegal to urge it against the FED. As the overlords of our government, this becomes a safer method of creating "change we can believe in".
Here are some steps you can take:
One, pay your employees in silver and gold. Make arrangements with local bullion dealers for supply, trading, redemption to smooth the transition. I suggest you pay the payroll taxes as the IRS has been quite clear on how they will treat this matter- but pay them in dollars.
Two, keep only the necessary liquidity in banks and convert all other assets to something physical- PM's, land, commodities, equities, etc.
Three, only hold corporate bonds. Sell all treasury bills, bonds and notes.
Four, pay all bills and taxes in dollars.
Five, as all accounting is 90% grey, start taking advantage of every tax dodge possible. As the IRS has limited manpower, the possibility of discovery will decrease as more people take part.
Six, find merchants that will transact in silver and gold. Then educate others and create a list for all people in your community to use.
Please feel free to make suggestions. Fiat currency is the Achilles heel of the elites.
Other ideas:
1. Participate in the 12/07 planned bank run.
2. Use money orders where possible.
3. Don't call them "dollars" - call them "FRN's" or "Federal Reserve Notes" or "debt-money".
4. Show people the www.buildingwhat.org website.
5. Write your congresspeople about Fraudgate and warn them about a possible TARP 2.
6. Stop using credit cards.
Good ideas all. Thanks!
don't forget to tip your waitress, either. you've been going to same diner for 10 years now--maybe it's time to "turn over a new leaf" and realize "she's been serving you that same cup of coffee that whole time." something other than usual dime, please.
Hate to say I told y'all so, but....This was an easy trade. Now we can go higher with no reason to bring stocks down. Everyone caught on the wrong side of the trade. Never run with the crowd and the crowd all thought sell the news or baked in scenario. Not quite so, friends.
Oh oracle of zh...
Why did you sell apple last week for the second time in 3-4 months ....?
Last week you bought and sold apple in a classic intraday panic move now seeing apple at $312 I can only count down the hours until you enter this trade again.
So your " I told ya so ... " only holds so much cat piss ...
A couple of carpenters just arrived at Harry's. Seems he went out for a moment and when he go back he found that all the doorways in his place had to be widened to accommodate the ever increasing size of his head. Phenomenal really.................
Widen the one leading to his trading console first.
You jumped in line just to say I told ya so? Lame.
http://www.dailyjobcuts.com/
Go to the site, and tell me if your slow and steady recovery is benefiting these people, the 44 million on food stamps, and the 1 in 7 mortgages delinquent. Your myopic view of the world is annoying.
Every now and then you have a good post, but the above it just a waste of breath...
Only children say - I told you so.
I want to express my admiration of your writing skill and ability to make readers read from the beginning to the end. I would like to read newer posts and to share my thoughts with you. oilseed expeller
lame
Yes, lame. They could have at least said 666 instead of 600.
+666
As expected - now for the next 6 months we'll have to hear about how much is QE3 is going to be.
This will continue QE4, QE5, etc.... Until KABOOM!
True, because he can't step away without a blow up now. Would be like an addict quitting cold turkey, usually not a pretty sight. So QE4Life!
The only real question now is how long that life will be.
Yes, that is the question. How long can they (we) keep QE-ing until it all blows up.
We all know know what to do as individuals:
Buy physical gold.
Per Jim Sinclair:
And that's just what we know about!
Do you feel lucky?
The ? should be: TMV or not TMV!
Yes, just like the KABOOM you all said when QE2 would be announced.
Look, economy is stable and QE2 will add further fuel to keep the slow slog continuing. Why don't you guys get this??
Harry, long term here, what happens when the rest of the civilized world loses faith in the gov's ability to pay back debt? What happens when they don't accept US dollars anymore? Will the economy continue to be stable?
QE2 will add further fuel to keep the slow slog continuing. Why don't you guys get this??
Harry,
doesn't look like a slow slog to me... seems to be moving faster then ever.
http://usdebtclock.org/
And when the hands fly off the clock, THEN WHAT? Why don't you get this??
Harry,oil over 85. is not good for our economy. "fuel to keep the slow slog...
yeah, right. Are you a pump jockey or just confused? Dont you know better then to trade with crooks? Are you aware in your search for workless profit you help keep the beast alive.
How does one trade this corrupt market and not lose ones honor?
The economy is stable in the way that uranium is stable in an atomic bomb before detonation.
HarryWanger -- the Johnny Bravo of the middle-aged set.
With treasury yields almost at zero I'm curious how buying more treasuries is going to make the economy stronger?
Who said the point of this is to make the economy stronger?
this is an excellent question. i am now putting my "green eye shades that i bought at the store for you the wise ass" and will attempt to answer. "by driving the cost of money itself down to zero (as differentiated from capital which must be 'earned') operation 'funny farm' can now be impletmented. this operation consists of a. treasury making 100's of billions off us via the Fed, b. wall street banks making hundreds of billions off us via the Fed and c. at some point their greed will be so laughably satiated that in an act of total unabashed hilarity they will "lose their senses" and hand some back to "us" and call "us" the "economy."""""""""""""
600-900b total?
here we go dollar down, bonds bidding up
Au and Ag now moving straight up
Now moving straight down :-(
Patience. So far, just as scripted.
May still hit 1325 before bottoming and turning higher.
Ya Mon.... Just bounced, jus' like you said
Thanks. So far, so good. This is from about 8:30 this morning:
"So, the question is, what happens this afternoon? I fully expect a "sell the news" type of event, at least in the very short term. I would imagine that the quick reaction will be a sharp $ rally and selloff in gold, if anything because Blythe will be waiting with an abundance of sells to overwhelm the bid right around 2:20. Some other nervous machines will kick in and gold may drop as low as 1325-30 pretty fucking fast. Blythe will then, cautiously, sit back, cross her fingers and pray.
At that point, I expect the buyer(s) of size to appear, as if on cue. Gold turns and then rallies sharply back to 1350 or so. From there, let the QE news go global and sink in for a while. Gold rallies more tomorrow and finishes up for the week. A close above 1365 on Friday will be enough to cause major headaches for Blythe and her minions."
And by the way, crude is your "tell" at this point.
The tiny PM markets are simply being manipulated today. The fact that crude is still up on the day at 84.66 is enough proof that gold and silver will rally out the rest of the week.
Great FOFOA type observation.
A hat tip to the Turd from Kansas!
No flies on this turd.
Is it a FOFOA / OilDrum observation?
Yes, very nice call Turd. EE had to sit on gold ahead of the annoucement. Gold and silver will now likely commence the next leg up.
Rally Caps on Bitchez!
I agree, $26 silver by end of week will not suprise me.
Noble Turd. You should start a newsletter.
Many times I have called "the man" a turd. This is the first time I'm gonna say Turd, you are the man!
+85...
I was wishing it was at 86 so my comment would have two meanings.
Congrats too! Would be a subscriber too ... but there are 2 sides of that (already earlier mentioned) blog-coin: there's (much) more work than meets the eye. Unfortuntely there are not only good guys out there and one can get pretty fast into troubles ... homeland security, legal, moderating posts, the bill and tax stuff ... I have considered that too - but not before fulltime in this business. Newsletter, if professionally done also requires discipline and work, but not as much as a blog.
Anyway Turd, gl for whatever you intend - and thx again for your most valuable comments, which remind me a bit of JS. BTW are you aware of the "Stalker"'s and or Nichols outlook/forecast for Gold?
Thanks. Not heard of Stalker or Nichols.
I've had quite a few people ask me to start a blog in the past few days. I can see where my comments can be hard to find sometimes, hidden amongst all the different threads.
I'm reluctant simply because I'm not arrogant enough to think my opinions merit their own site. All I do is (rightly) assume that the Evil Empire attempts daily to manipulate the PM markets and then review the charts to predict where they will act. Not real fucking complicated.
At any rate, a blog might be kind of fun to do...kind of like what Harvey Organ does, without all the news of the day. Maybe I can call it "Turd Ferguson's Organ" or something like that. I'll keep you posted.
Turd's Organ would get you a lot of hits from the XXX crowd.
Turd times the charm?
Stalker ... think of Midas lemetropolecafe and a rumored chinese group of investors ... 1600 as of March 2011
Nichols a fractal guy ... eventually 1800 around February March 2011 and a sharp move higher latest after November 26 but maybe also already earlier.
Finally there is Cyclist from Kitco, the best "cyclist" (think of cycles) I know of ... who also expects a sharp move north after latest mid November, in most markets btw.
And not to forget Bruce from Kitco - a real world guy with obviously pretty good connections ... 1530 next target and what we saw just know was the last correction before 1530
Message of this post: you Turd are in the best company I know of. In other words I'm very confident in your mentioned targets - and all I can say is: I think everybody following your advice here - is very well advised!
Looking forward to your "blog"!
Slow down Turd.Too much truth coming from your goodself nowadays.A knock on the door late one night and you,ll wake up on an inhabited island in the Pacific.Truth is dangerous,truthful knowledge even more dangerous.
You know what, that doesn't sound half-fucking bad at this point.
Tropical breezes. Sandy beaches. And no more worries about complete societal collapse.
BTW, I think its awesome that someone actually took the time to "junk" every single one of my posts above. Wooks wike somebuddy musta gotten short at 1325.50 today.
Anyway, one last thing before I sign off...TOMORROW IS ANOTHER POMO DAY!!! More fireworks ahead!
Why don't you just do a bi-weekly gold report on ZH? The Turd Report; or, Turd Hits the Fan. I'd read it.
turd hits the fan...that's good. i second the call for contributor status for turd. always solid, that's my opinion.
How about using the Forums at ZH, Turd?
I see there is no Forum on gold? ...or turds for that matter.
I don't usually indulge in potty humor, but "The Daily Turd" is too good to pass up.
Or The Daily Dump?
Welcome Hammy!!
Hey AGoldHamster ole Buddy! Recognize you from the Kitco forums...
hi decon and strider ... good to have friends here!
Need advice: Is there a way to subsribe to a poster (i.e. turd) here? All I found was to view/click the posterid and then to "track" ... what obviously lists the posts where there are comments of that poster, not exactly a subscription though ...
Crude is a tell in more ways than many.
from the book “This Time Is Different”.
The 2008 oil price spike has not led to any defaults yet, but based on historical records and current debt levels it doesn’t look all that unlikely, especially with oil prices heading higher again. The thing being done so far is to push indebted countries further into a debt compound spiral by raising public debt rather than default, but how long can that go on?
I did a quick calculation, and based on oil at $83 at barrel and 15 million barrels a day of oil consumption in the EU, (USA uses 19.40mpd) that equates to $454, 425, 000, 000 dollars being spent on oil by the EU each year. Even more obviously by America.
Thanks for clarifying, Turdman. I was a bit perplexed at the lack of correlation and now I feel a bit better. Gotta keep my FOFOA roots watered.
And after that... we should be seeing more captial controls outside the U.S. to offset the effects of dollars flooding the system worldwide.
Now that the currency war has begun in earnest, at what point do we get an all out trade war?
unlike our conventional wars, our currency weapons backfire pretty regularly
We have been and continues to be in one.
Currencies have been the weapon of choice under the current structure for some time now Assetman. Gotta love how QE is effecting so many dynamics, globally.
last night, an HK radio station was talking about the price increase in toilet paper. and their understanding of what's going on currency wise is quite clear. sounds a lot like the ZH comment boards actually (the little i can translate), except in cantonese.
QE17 will be for $600 Trillion--a Madman has taken over.
Scratch....NY Fed cushion change. Too many short. Market to surge
Surprising.
Not what I was expecting.
Not what are lot of people were expecting.
Once again, the Fed shows it is still the master of moral suasion. Or at least illusion creation.
So right! Writing from the floor, lots of confusion right now, you were right to wait a day or two, place bets accordingly!
Things just got a bit more complicated. Volatility our old friend? I'm still waiting to hear from my ex, Volume . . .
Its P*ss poor was the first desk shouts....
When the whisper was 1T+ the bots are -ve bias (except USD) anything under as the headlines hit.
What floor are you on? What pit?
TJ not the NYSE, my firm's floor! Am long gone from the NYSE, since 2005! The guys on the NYSE don't need to know what to do, they get their orders, that's it!
Same pit as before! All I gotta do is roll a hard 10. Piece of cake. Milestones
Ruh-roh...
That's not very aggressive...gold no likey.
Gold is holding the nuts, it just wants BS all in. BS is calling every bet gold makes. Just wait, this will be revised in a month , and then again, then again.
$75 bill this month.
$150 bill Dec
$300 bill Jan....
You get the picture.
For anyone thinking that the Fed is going to stick to a stated game plan, think again.
They "will adjust" as needed. yup. all BS. I read it as if the overall total is adjustable too. Blank f***ing check - month by month determination on how much money to spin off the cash-o-matic printing press.
Yep, I agree ... the Fed has a blank check, and QE2 could ultimately become a bottomless pit:
Yeah, good luck with that one.
Remind me of a phrase I picked up in the USMC,
Semper Gumbious! (always flexible)
Silver doesn't seem to mind...
<update> ooer, or maybe it does.
<update2> then again...
Au/Ag charts look like MJ Fox handling an Etch-a-sketch, wow.
Wonder what coin dealers do on days like today?
cry, then laugh, then cry, or laugh, laugh, cry, or cry, cry, drink, then laugh. Or drink, drink, laugh then laugh again while crying... you get the idea.
Mine will follow spot down until he hits his inventory cost, then stay at that price until spot comes back up. Luckily for him, he is closed on Wed. At these levels though, he spends most of his day looking at junk jewelry brought in, as very few are buying right now.
My dealer closed on Wednesday too. Saw them tuesday, they were perplexed by volitility. They also mentioned, that not that much traffic coming in to sell. Market getting tight, they have been buying from the small guys that don't have enough cash to bank roll their stock. I just love it when my phone rings and they say, "Hey Sparky, we had an estate coin drop off today, why don't you come in?" When I buy those eagles, I just think how the previous owner is rolling over in his grave because the fmaily has no freaking clue. Oh well. I am schooling my children about hold time, and disposal time.
As a coin dealer I can say that just because I have coins doesn't mean I have to sell them, or buy more. I treat them just as any retailer does, or any holder of securities does. You know the old saying, it's no loss until you sell. Any coin dealer worth his salt does not make all his profits by selling bullion! The numismatic market is alive and well. Don't confuse the two.
Noted.
thank you !!!
(TY not the helio of cause.. F you helio )
Little on the light end, but still bad. And I still hold the announcement is not the whole picture, it's not like they can't play off the book. This is just after all stuff they are putting on the for the public balance sheet
Also will point out how jaded we are. If they would have announced 600 billion pre 08 people would have been falling out of windows. It's still a massive amount of money and monitization, but we have been accustomed too ludicrous sums. Still can't imagine dollar holders will be overly enthused.
So true re: jaded. They spent months building up to this, and therefore it's anti-climactic. But it's still $600 billion of pure money creation.
FED didn't create the mania of speculative bullish sentiment........ the traders did. Since profits, inflation, and pissed off BRIC's are on the rise, what did you expect? For them to nuke the dollar for the fun of it? :D
Only 3 years ago the total amount of dollars in circulation was $800 bill to $1.2 trillion. Now we're so jaded everyone ust says 'meh' at $600 billion printed out of thin air for a few months of keeping things going? Train wreck coming while everyones drunk on hopium.
Read all that as a sign of acute desperation. Plan accordingly.
good point, math is math
Agreed, since my high school math was a little <cough> long ago, I had to look up what comes after trillion:
http://www.onlineconversion.com/large_numbers.htm
Lightning outta a bottle!!!!!!!!!!!!!!
Catch a rey of sun!!!!
Come on!!!!!
gold down lol
WTF is up with VXX?
Besides being broken and a complete fraud? Dunno.
Nov 9Th rev split 4:1 totally manipulated, stay with SPY :--))) is also manipulated but more predictable!
vxx is a scam - target 0. Reverse 1 for 4 split next week so they have more room to move down.
I'm starting to think the same is true with UNG. Anyone know a legit natural gas ETF that's safe to hold for a few years?
A big LNG tank. UNG is death, slow or fast.
Wise enough
Sell Europe, Buy the USD?
$75 Billion/Month..FOREVER YEEEEEEEEEEPIEEEEEEE
Plus an initial $35B reinvestment in MBS, plus all further maturities of MBS and UST the Fed buys since then.
FOMC doesn't know reverse, only forward, or it all blows up and Fiat Fails.
crash....get it over with!!
will never happen.
Yes it will. Eventually.
Gravity wins.
A couple trillion short of the amount necessary to create inflation based on the taylor rule. Market looks confused.
IMO the Taylor Rule thing was just foolish. $6T is almost half our friggin GDP! Would it really take that much to create inflation? Uh... no. Not even close. That discussion last week just showed how flawed the Taylor Rule really is, at least on the fringes.
can't they just anounce another 600B in a few months...i mean cmon
that's IT? lol, kinda like when a chick gets out of a serious wonderbra
LOL
Genius! I'm gonna remember that one.
This is the middle of the road. Half of $1.5T (expected), < $100B/mo
Close. This is the middle of the journey. The full $1.5T lay in our future, maybe even sometime in 2011.
Something wicked this way comes.
Japan 2.0
K so now no more rumour buying - can we proceed with the EUR drop - USD lift scenario?
... and backed by the full faith and credit of the United States, whatever that means.
How did that "Euro to zero" thing work out?
:D
blah blah blah. . . "exceptionally low levels for the federal funds rate for an extended period."
Shock and awe-shucks. Goldilocks QE while QE Lite continues. Perma-QE.
Wimpy. Limp-wristed, even.
It's certainly sad that any QE was done at all, but that's a lot of anticipation for a quasi-ho-hum announcement.
I will destroy the world unless you all give me...........600 BILLION DOLLARS..>MUAHAHAHHAHAHAHAHHAA
Does anyone get the image of Dr. Evil when Bernanke announces these things???
I drink your milkshake and fart in your general direction.
Chocolate or vanilla?
It makes a difference in the fart. Honest.
http://www.youtube.com/watch?v=FWBUl7oT9sA
classic
Bennie B. has never failed on a shipment yet.
Does it even matter at this point? With no way to audit the Fed and the PPT we will never know how much is really going to be purchased whether it be treasuries, bonds or stocks. It's a joke.
Let the melt up continue. Once again, the Fed played it's cards perfectly for continued asset melt up thus pissing off everyone here hoping for them to shoot their whole load. Unfortunately, they ain't that stupid.
The Dow looks like a Weeble-Wobble right now.
LOL
Spoken like the new mother that you are. :>)
I can honestly say I don't think those words have ever appeared on ZH before now. Bravo!!!!
"I can honestly say I don't think those words have ever appeared on ZH before now."
"weebles wobble...but they don't fall down." that's probably why no weeble reference on this site. pure speculation on my part, of course.
God, but are we not all thoroughly indoctrinated with TV and radio commercial tunes and songs?
It reminds me of the severely under appreciated movie "Demolition Man".
http://www.imdb.com/title/tt0106697/
http://en.wikipedia.org/wiki/Demolition_Man_(film)
BTW, every time I see your ID I think of the phrase "It takes a village to raise an idiot." :>)
"BTW, every time I see your ID I think of the phrase "It takes a village to raise an idiot." :>)"
And a fine job you did!
I love that movie. Enhance your calm, citizen.
Pop that DVD in the player and view it again. It's amazing how much of what we laughed at back then is part of the social and political scene today.
The movie was way ahead of it's time.
Now, that's a good idea, if I can find it, lol. I need a good laugh these days.
The computers simply can't figure it out... hahaha
Well said.
so when does this news start to affect the prices of useful goods like pitchforks and torches?
Expect the price of those to be driven more by shortages.
I'll wait for the Gucci edition. I only riot in style.
Yikes! Spikes all over the place.... currencies and PM's