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| User Info | Not Durable Durable Goods, and More Bear Stearns in forum [Ticker] | |||
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Genesis Posts: 71412 Incept: 2007-06-26 
KD^2 
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http://market-ticker.denninger.net/2008/....
---------- "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
2008-03-26 16:42:00
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Implosion Posts: 3210 Incept: 2008-03-20 
99.9% of all crash calls are wrong!
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Excellent ticker! Does it mean that, thanks to the Fed's recent actions, the Decoupling Theory now has merit? After all, The Dollar certainly seems to be decoupling.
---------- "You better believe in the PPT! If you haven't by now, you will." - Chummin It's a Global Economic Meltdown (Music Video): http://www.youtube.com/watch?v=mzXTxAOQE....
2008-03-26 17:11:10
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Colonelkurtz Posts: 145 Incept: 2008-01-28 Seattle
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Just awesome. I'm serious, that is the best ticker ever. ......tick, tick, tick.... There is a big impeachment audience over at Daily Kos. Post there and link with the words IMPEACHMENT and your blog will go off the charts. They are a bunch of closet Republicans anyways, without enough good econ writers. ---------- Democrats; the velvet glove over the iron fist of Republican rule
2008-03-26 17:21:00
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Stick it over there on Kos Kurtz.... I'll take it however I get it! 
---------- "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
2008-03-26 17:28:24
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Eleua Posts: 9907 Incept: 2007-07-05
N 47.72/ W 122.55 Online
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How is the "Moonbat filter?"
---------- http://clearcutbainbridge.blogspot.com/
2008-03-26 17:30:12
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Econ101 Posts: 498 Incept: 2007-08-19
Online
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Gen, Do you think there in an impact of changes in the way you are taxed for depreciation on the durable goods number?. I think that change is part of this tax rebate scheme.
2008-03-26 17:35:28
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Possibly. Difficult to know as of yet. ---------- "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
2008-03-26 17:40:20
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Jooon_yer Posts: 839 Incept: 2007-06-26 
baba booey
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Gen - I think you need to DIGG the article yourself ... and GIVE US THE LINK to DIGG your submission. Otherwise, each of us is going to be digg'ing the article individually and the DIGG count will NOT build up ... as each of us will have separate links to it I think. (I may be wrong). Follow Up - I just went to article again and cliked DIGG and this time it followup up with it ... first time I did it I created a new DIGG submission .... odd. Follow Up Part 2 -- Depending on how you get to the article -- if you go: market-ticker.denninger.net -- you see latest post and then click DIGG button at bottom ... it links back to ROOT of site. On other hand if you go to full URL of the article -- i.e. the one you posted at top of thread -- it creates a DIGG link back to the article URL instead and the counter is different on that. Last modified:
2008-03-26 17:46:58 by jooon_yer
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Truthseeker Posts: 2016 Incept: 2007-10-07
NW US
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http://digg.com/business_finance/Fed_and.... Digg it! 
---------- "The real leech****s are not the welfare people, but the paper shufflers in privileged positions who are skimming the money flows." " ~ Bozonian
2008-03-26 17:44:03
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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KD wrote..Ben and Hank are being forced to choose between destroying our currency and economy I thought it was part of Ben's PLAN to devalue the dollar to avoid deflation. He praised FDR's confiscation of gold and the subsequent devaluation of the dollar and the relative inflation it caused as the reason we got out of the depression. I figured he was doing it now for the same purpose and the 'We support a strong dollar' mantra they repeat everyday is just for the masses not to blame the FED for what's going on.
2008-03-26 17:49:42
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Maple Posts: 4460 Incept: 2007-09-03
Southern California
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6
2008-03-26 17:51:26
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Ain't gonna work Bdh. The other CBs are backing him into a corner. ---------- "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
2008-03-26 17:54:49
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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I don't understand. What's not going to work? (Well I already know none of this is going to work, I'm just wondering what you mean specifically.) Do you mean that the price inflation scheme won't work to prevent deflation, or that the dollar will collapse, triggering massive monetary deflation and price inflation (ala Argentina), or something else?
2008-03-26 18:01:15
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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If we wind up a funding currency for the carry then our economy is ****ed and they will carry Ben out on a tree and take him up to Golgotha. ---------- "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
2008-03-26 18:07:57
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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After re-reading the ticker I see you believe the FED will blink first in this game of chicken because of energy prices. But if Ben WANTS price inflation, he would welcome a game of chicken because he's confident he will win. What neither side understands, is that no matter what decision they make, it's all going down the toilet.
2008-03-26 18:08:16
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Bdh the problem with this thesis is that Congress can strip The Fed if they want to, and the screaming from the population to do exactly that will get out of control FAST if this is tried. ---------- "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
2008-03-26 18:10:01
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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Okay, we'll see, but my thesis is that Congress and our average citizenry doesn't know jack about how this all works, that the population will demand MORE FED cuts, MORE bailouts, and MORE intervention rather than less. And Congress will be under massive pressure by the voters for these bailouts and may try to FORCE the FED to print as Fisher said today and they can threaten to strip the FED if they don't listen. But again, with either choice I don't see how the economy isn't screwed. We'll see.
2008-03-26 18:17:36
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Uh uh Bdh. Not when every time they cut food and gas go up in price. It ain't gonna happen. Price inflation, once it gets going, winds up in a Volkler-style squeeze, because its the only way to stop it. ---------- "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
2008-03-26 18:20:03
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Bw8472 Posts: 6446 Incept: 2007-06-28
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It's the wrong kind of inflation, it does prevent hoarding which it's designed to do. The last thing the FED wants is for everyone to snap the wallets shut but what they can't do is get people to buy houses in enough numbers to hold prices and preserve assets tied to that market. They can flush out attempts to shut down the economy overnight but the thing they most need to do is deflate the housing bubble slowly, if they don't watch it the inflation in other areas will accelerate and exacerbate it. Eating and driving to work are first, homeownership is a distant 2nd to that because renting provides shelter cheaper. Europe is just lagging us here on the descent into hell, they're possibly going to get hurt worse than us, their bubble is just on a different part of the curve but it's there. They're tied to the emerging markets and they're making a valiant stand, a stand they think they can afford to make now, Ben is betting when the fur flys they'll back off and I'm guessing they eventually will, however as to which will blink first that's an open question due to timing. Europe will probably win this battle and cut later as they get sucked into the vortex, they'll probably heal quicker than us too if they don't zombify, who ever goes to zirp first gets to live there for a long time, you can't get back out of that. ---------- At what point then is the approach of danger to be expected? I answer, if it ever reach us, it must spring up amongst us. It cannot come from abroad. If destruction be our lot, we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide. ~Abraham Lincoln
2008-03-26 18:23:09
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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I don't disagree, but we'll see if they try.
2008-03-26 18:23:44
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Sondergaard Posts: 512 Incept: 2007-07-13
Big Trees
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Bdh -- What nearly everyone is missing is that the US is the world's biggest debtor. We MUST have around $1.4 billion per day of foreign investment to operate. If inflation begins to be perceived -- just perceived, actual policy and statements notwithstanding -- as our long-term monetary goal, foreigners will demand higher interest rates on that $1.4 billion per day to compensate for the currency risk. This is the brick wall that all the administration tap dancing in the world cannot dance around. It is the horse we are riding and it will throw us no matter how much tinsel we're wearing. Gen -- is there anyone in government who seems to appreciate this? ---------- And it won't make one bit of difference if I answer right or wrong; when you're rich, they think you really know. --Fiddler on the Roof
2008-03-26 18:30:22
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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I suspect there are plenty of people who understand it, and its been the subject of a couple of letters to Bush. ---------- "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
2008-03-26 18:33:35
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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I haven't missed the debt. That's why we have a STRONG DOLLAR POLICY! <wink, wink> Seriously, my belief is that Ben thinks deflation is the worst of the crisis we are facing, and that he will play his book out till some sort of collapse, and that includes debasing the dollar. Congress will do whatever the voters are demanding them to do.
2008-03-26 18:41:52
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Tz Posts: 465 Incept: 2007-09-18
Southfield, MI but in Owatonna, MN for a while
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I almost missed the part where you explain this petition is NOT what the title says: "We call upon Congress to force the immediate cancellation of the Bear Stearns transaction as an unlawful act, and should The Federal Reserve and the US Treasury refuse to do so, to bring the above article of impeachment." The very last line. The header is in the largest point size, in bold asking for something completely different (as I pointed out, Google Search for the title will find quite a few petitions to impeach). If you want the Bear Stearns bailout reversed, is it not reasonable to list it as the TITLE and the FIRST request in the petition, and impeachment only after explaining how bad it is and that the Congress ought to act if the executive branch or the "independent" Federal Reserve doesn't? If the first words out of my mouth are "Impeach Bush", people will shut off. If they are "Stop the Bear Stearns Bailout", they will probably ask me how. I'd start off with equity and justice as that is simple. democracynow.org has a piece of homeowners being foreclosed protesting in front of BSC. The illegality is technical, and when the law is so fuzzy (isn't Bush a unitary executive? etc.) it is hard to talk clearly on it. And impeachment is suggesting the sentence before the trial or even the arrest, and the arrest will happen quickly if at all. And actually, the punch line is technically wrong. JPM and BSC can do whatever deal they want - on their own dime. What you want is the cancellation of the Federal Reserve backing of $29 billion of toxic waste bonds if I understand correctly. Not some "transaction" - which I think is technically between JPM and the Fed, not Bear Stearns. The meme is already spreading, albeit less focused. An "impeach Bush" meme won't carry as far or as fast as a "Stop the Taxpayer funded fatcat Bailout" meme. Your petition contains both, but the latter is hard to find. When you can google for "Bear Stearns" and "Federal Reserve" and your page comes up I think you will get quite a few signatures. But you seem to be aiming for it to be indexed under the "impeach bush petition" terms instead. Sometimes style matters as much as substance. And even our declaration and constitution were edited for style. ---------- "I am become debt, destroyer of worlds"
2008-03-26 18:51:09
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Barnaby33 Posts: 522 Incept: 2007-07-24
San Diego
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Bw8472 Europe heal first? Germany and France with their large structural debts and an ECB that has inflated the currency? Europe has all of our problems only far worse. They have social entitlement schemes that make even the Democrats (including me) cringe. Aging populations and horribly integrated minorities don't exactly inspire confidence. They may stand at the edge of the vortex for a while, but no way do they avoid getting sucked in, or recover first. ---------- Short taglines rule!
2008-03-26 18:52:06
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