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Genesis Posts: 71422 Incept: 2007-06-26 
KD^2 
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http://market-ticker.denninger.net/archi....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-08-19 08:58:33
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Mvj Posts: 1676 Incept: 2007-07-30 
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Karl, Again ticker date is showing as Monday, August 18. 2008.
2008-08-19 09:08:22
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Alex2008 Posts: 725 Incept: 2008-01-06 
Banned
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Quote:Want a mortgage? It costs, according to Bloomberg, 6.37% right now. A year ago? 6.24%. But what was the Fed Funds Target a year ago? 5.25%. So The Fed throws $400 billion into the pot to drive down short-term interest rates, and you see mortgage costs go upward, not down. Short term rates are not dropping because the Fed is lending money to its banking buddies. The Fed determines neither short nor long term borrowing rates. It simply does not have enough juice to do so. Short term rates are dropping because banks do not have enough room left on their balance sheets for new debt origination. And do not want to originate loans against falling collateral values. It is the lack of demand for funds for new debt origination that is driving short term rates lower. And will continue to do so until we reach ZIRP. Last modified:
2008-08-19 10:00:17 by alex2008
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Templar223 Posts: 397 Incept: 2008-04-28
Champaign, IL
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KD wrote..This was not an accident - it was an engineered scheme devised for the explicit purpose of goading you into spending money you didn't have on things you didn't actually need so the bankers and lobbyists could make BILLIONS while literally BANKRUPTING YOU, and you fell for it! Great ticker again this morning. But I have one minor disagreement with you regarding those 20+% (me thinks it's closer to 50%, but that's minutia) who have levered themselves up with credit. Sure, this may have been enabled and encouraged by banks and other financial institutions, but ultimately it was Joe "I wanna live outside my means" Sixpack and his wife who signed on the bottom line of that credit application, not WaMu. Joe's not really a victim. He initiated it. He might have been a "victim" of poor public / private education about matters financial, but that's a parenting problem, because ultimately it's YOUR responsibility to teach your kids the fundamentals of life, not leave it to someone else. So while you, Karl, assess much of the blame on the self-serving financial sector, I assess it to the idiots to have been living to a standard beyond their means. In either event, regardless of who's responsible, I think everyone - even those not directly involved in living beyond their means (including people like me who don't carry credit card and other consumer debt, merely a traditional mortgage with less about 25% of my home's value currently mortgaged) - are going to get stuck with the bill. God help those filing bk though. They are going to pay for that for years to come in more ways than one. And a lot of corporations are going to be going bk, leaving lots of folks looking for work. Pretty soon, I believe we're going to have one of those "D"s. I hope it's not a "GD" for everyone's sake. John
2008-08-19 09:29:58
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Viper Posts: 717 Incept: 2007-08-28
Madison, WI
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Pretty scary that Russia is now using this as the time to start its quest for world power again, while our idiot politicians seem to be doing everything they can to throw our ability to stop them under the bus. I don't think Russia's timing is coincidence either... ---------- http://www.mccotterforpresident.com/
2008-08-19 09:40:15
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Themortgagedude Posts: 3930 Incept: 2007-12-17
saint louis Online
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Big news from Cnbc - Phil Mickelson sees bargains in real estate and banking stocks. Maybe Phil can prop up Fannie Mae and Freddie Mac. I'm sure that would work out swell for him. Maybe he ought to work on hitting fairways instead of offering investment advice. WAFAH! ---------- "These are interesting times. We don't trust the government, we don't trust the legal system, we don't trust the media, and we don't trust each other! We've undermined all authority, and with it, the basis for replacing it! It's like a six-year-old's dream come true!"
2008-08-19 09:41:16
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Genesis Posts: 71422 Incept: 2007-06-26
KD^2
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The "idiot politicians" are there because of your vote, and remain there because you are behind a terminal instead of IN THEIR FACE. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-08-19 09:41:36
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Fuzz Posts: 4 Incept: 2008-02-25 ILL
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(by the chart above) ????? No chart on my end ---------- "Moe, Larry the Cheese!" Curly
2008-08-19 09:44:52
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Genesis Posts: 71422 Incept: 2007-06-26
KD^2
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Its there in the posting. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-08-19 09:46:22
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Gates Posts: 2093 Incept: 2008-01-29
Scottsdale
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Great ticker Karl! it's simple enough that any J6P that comes across it should be able to grasp the enormity of the problem - i am continually amazed at the current level of denial i hear from our fellow citizens.
---------- "Ein Ende mitt Schreck ist besser als ein Schreck ohne Ende." - Hans-Wilhelm Voeller
2008-08-19 10:23:31
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Boiled_frog Posts: 438 Incept: 2008-07-21
Some warm (not too hot) water of course!
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"he was in Congress during the time Glass-Steagall was repealed" Wasn't his economic adviser (Graham) the main force behind the repeal? ---------- "Kilgore Trout had written a book about a money tree. It had twenty-dollar bills for leaves. Its flowers were government bonds. Its fruit was diamonds. It attracted human beings who killed each other around the roots and made very good fertilizer. So it goes." - Kurt Vonnegut
2008-08-19 11:15:44
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Bear Posts: 6649 Incept: 2007-07-10
SoCal, and my avatar is so ****ing small you cant see it
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Graham sure as hell was......we have (as usual) two choices during this election, 1 ****ty 2. ****tier
---------- Cause GS got all the beef.....Mliu
2008-08-19 11:17:04
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Genesis Posts: 71422 Incept: 2007-06-26
KD^2
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Boiled - yep. Graham was forced out tho after his "mental recession" comment, so I no longer reference him. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me Last modified:
2008-08-19 11:24:43 by genesis
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Fuzz Posts: 4 Incept: 2008-02-25 ILL
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I reloaded Firefox and voila: chart Thanx Karl ---------- "Moe, Larry the Cheese!" Curly
2008-08-19 11:28:00
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Bluebird Posts: 524 Incept: 2008-05-02
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"the entire economy goes in the toilet all at once. Suddenly, credit cards (which of course the consumer was encouraged to "lever up" with too!) and car loans (125% of sticker price anyone?) implode." When in the winter in the Midwest, if there is a forecast for 6 inches of snow, people run to the grocery store and buy everything off the shelves. I can only guess when this credit implosion happens, there will be wild mayhem and panic, not only at the stores, but banks and gas stations, everywhere. Or maybe Paulson and Bernanke will keep pulling rabbits out of the hat to prevent a meltdown?
2008-08-19 11:35:57
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Boiled_frog Posts: 438 Incept: 2008-07-21
Some warm (not too hot) water of course!
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Bluebird - it is like that here in Florida whenever a hurricane is on the horizon. A couple of years ago when something big was sure to hit Tampa (it missed) I remember going out and trying to get some gas and not finding any. Pretty scary. Now I try to make sure I am ready even off season. ---------- "Kilgore Trout had written a book about a money tree. It had twenty-dollar bills for leaves. Its flowers were government bonds. Its fruit was diamonds. It attracted human beings who killed each other around the roots and made very good fertilizer. So it goes." - Kurt Vonnegut
2008-08-19 11:43:24
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Tesla Posts: 8174 Incept: 2008-04-03
Delaware
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Then the good news is that when credit lines are closed, cards run out of ceiling, and cash is scarce, then there won't be the "night-before-the-snowstorm" runs. How refreshing. ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2008-08-19 11:58:09
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Dirtysouth Posts: 2766 Incept: 2007-09-20
Love Truth Honour ॐ Banned
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You sure know how to turn my smile upside down Gen..
---------- Forest First...Trees Second Feb 9 ~ Mar 11 ~ Apr 09 ~ May 09 ~ Jun 07 ~ Jul 07 ~ Jul 22 ~ Aug 06 ~ Sep 04 ~ Oct 04 ~ Nov 02 ~ Dec 02 ~ Dec 31
2008-08-19 13:30:10
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Genesis Posts: 71422 Incept: 2007-06-26
KD^2
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I just call 'em like I see 'em.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-08-19 13:30:40
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Bozonian Posts: 14033 Incept: 2007-09-01
PFT - Pure F'n Tin
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Quote:Pretty scary that Russia is now using this as the time to start its quest for world power again, while our idiot politicians seem to be doing everything they can to throw our ability to stop them under the bus. Hmmmm. Wasn't it during that last depression that some creep also tried to dominate the world thinking we were too busy with our own problems to stop him? Hmmm. Nothing like a good world war to end a depression. ---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
2008-08-19 13:39:42
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Dirtysouth Posts: 2766 Incept: 2007-09-20
Love Truth Honour ॐ Banned
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Wouldn't end it Boz.. it would distract the sheeple from worrying about financial problems just long enough for .gov to lie, cheat, murder and steal their way outta the mess.
---------- Forest First...Trees Second Feb 9 ~ Mar 11 ~ Apr 09 ~ May 09 ~ Jun 07 ~ Jul 07 ~ Jul 22 ~ Aug 06 ~ Sep 04 ~ Oct 04 ~ Nov 02 ~ Dec 02 ~ Dec 31 Last modified:
2008-08-19 13:46:51 by dirtysouth
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Jellybean Posts: 246 Incept: 2008-05-07
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gen...yr ticker comments are what's been rattling around in my head for months. It's as if everything known or understood about risk management was ignored, by industry and by .gov. This makes absolutely no sense.
---------- The more you look to government, the more you will suffer tyranny.
2008-08-19 13:59:09
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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Bluebird wrote..When in the winter in the Midwest, if there is a forecast for 6 inches of snow, people run to the grocery store and buy everything off the shelves. I can only guess when this credit implosion happens, there will be wild mayhem and panic, not only at the stores, but banks and gas stations, everywhere. Um, a 'credit dislocation' is not a one day event is it? Wouldn't it be something that plays out over weeks and months without the vast majority of people knowing how it is going to effect them over the coming years?
2008-08-19 14:05:39
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Cjworkman Posts: 5610 Incept: 2007-08-22
Online
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The consumer in this situation is tough... we'll avoid a depression/major recession if enough people have common sense to walk away from houses they are severely underwater on and not bury themselves in debt and drain their bank account trying to keep a pointless asset. if they walk away,.. they will rent suddenly be free of the big mortgage payment and find themselves with more spending money. if on the other hand most opt to attempt to keep the house until they have no other option, bank accoutn empty, credit cards charged to the hilt, 401K's loaned against, etc... then we may have a serious problem... ---------- Ben is going to create an equity bubble from excess liquidity that tops at 1200... and bottoms at 300. A bubble inside of bearish economic conditions, so that it never reaches new market highs and crashes far below the lows. - me
2008-08-19 14:50:01
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Bluntfacts Posts: 693 Incept: 2007-10-09 Las Vegas, Nevada
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Great Ticker for Tuesday 8/19/08. I really liked this line: "While there are plenty of people who say you "can't" get either of those "D" things with price inflation screaming higher like this, they are wrong." Seems to make sense. With an excess of goods and services being produced, deflation should be the eventual result as less and less goods and services are produced. Of course, that means job losses; stores close; bankruptcies; and the like. Hmm. That is what we are seeing right now as we enter just the second year of this so-called downturn. I really hope at least the Ticker readers are prepared. ---------- "Will someone come on TV and tell the truth about how bad it is". Jim Cramer August 2007. "We can change the focus to a soft blur; or sharpen it to crystal clarity" The Outer Limits 1964.
2008-08-19 14:52:22
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