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| User Info | The Greenspan Debate, Starbucks, Hyperinflation And More in forum [Ticker] | ||||
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Genesis Posts: 71416 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
2008-04-08 13:21:22
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Jfedak Posts: 4778 Incept: 2007-06-26 
Down in Fraggle Rock
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The new stuff from Starbucks does seem to be a bit less overroasted than their old stuff, but not enough that I'd probably have noticed if they weren't massivly hyping it this morning. Still distributed in a seamed dribble cup, tho. Sigh.
2008-04-08 13:30:18
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Av8rphil Posts: 1817 Incept: 2007-06-26
Platte City, MO
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One of the talking heads on CNBS said she couldn't tell the difference but liked the new logo. Not sure that was the recommendation they were looking for. 
---------- "Two things in life are infinite: the universe and human stupidity; and i'm not sure about the universe" -Einstein
2008-04-08 13:52:56
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Supercleanfund Posts: 1204 Incept: 2007-11-12
The Island City, CA
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I like Peets' beans... maybe I'm spoiled because I live so close to the new roasting plant. French press!!
---------- - * - * - * - * - * - Never underestimate the power of wishful thinking.
2008-04-08 13:56:44
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Mondocondo Posts: 3141 Incept: 2007-12-03
Miami Online
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"Think about it - the dollar is backed by "The Full Faith and Credit" of the United States. But what is that "full faith and credit"? It is in fact the power to levy and collect taxes from the citizens of this nation. Yet without production and earnings by consumers - which inherently is what GDP devolves down into - there is no power to tax, because there is nothing to levy taxes upon! So we cheerlead about the "great earnings" of corporations over the last 20 years, but in fact we have offshored and outsourced our productive capacity, and our "great earnings" have been a sham - created from the misallocation of capital and degradation of our future earnings and creative power. We claim we "replaced" this manufacturing with "FIRE" service jobs, but those in fact create nothing - they simply push money around from one person to another, stealing a piece in the process. In response to this the dollar goes down in value because long term earnings capacity, and thus tax-bearing capacity, has decreased." KD, this is one of the simplest and clearest explanations for the dollar collapse that I have seen. I never really thought about it like that. Thanks.
2008-04-08 14:02:22
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Tz Posts: 465 Incept: 2007-09-18 
Southfield, MI but in Owatonna, MN for a while
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We have a Dunns Brothers coffee where they roast right in-store (and I know a few other places that do the same). I wholeheartedly agree with you on the Starbucks evil brew. I don't think I'd ever drink their coffee. But I love Dunkin Donut's coffee (with extra real cream and hazelnut flavoring - not the hazelnut flavored beans but the non-sweet add in flavor). On Greenspan, etc., the Fed, as were the previous two national banks like having a pet crocodile and saying you can train it better not to mess your house or eat your kids. I think our host would have trouble sailing an 18-wheeler on even calm seas, but it wouldn't reflect on his seafaring, trucks tend to sink. National banks tend to foster speculation, mismanage things (the best you can hope for is a jerky brakes/accellerator economy), inflate, and otherwise pretend they are in control as they follow the market. If all they do is follow the market, we already have a market. When they don't they do all the evils everyone notes, but at the same time suggest it is merely the operator, not intrinsic to the operation. If you wish to have a soviet style system - the IRS, bureaucracies, Fed, etc. even with the veneer of a congress and court (they had courts in the USSR too), you should expect only soviet style results. And of course the biggest Ponzi scheme - social security - is not only legal, they will arrest and imprison you if you don't participate. So how much do any of you expect to get back of the money you put in? ---------- "I am become debt, destroyer of worlds"
2008-04-08 14:30:51
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Genesis Posts: 71416 Incept: 2007-06-26
KD^2
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On Social Security: Zero. I get my annual "Statement of Expected Benefits" and use it to wipe my ass. ---------- "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
2008-04-08 14:32:17
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Mdrive Posts: 632 Incept: 2007-11-26
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excellent ticker.... i think the small business outlook published today bodes extremely ill for the economy....noting especially that ZIRP is not exactly stimulating businesses to take on more debt... they did say in increasing numbers that inflation is their biggest worry...rightly so...the business owners i speak with tell me that fuel, insurance(medical and liability) taxes are destroying profitability, even with passing along price increases... yes indeed, tres boollish
2008-04-08 14:44:14
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Mdrive Posts: 632 Incept: 2007-11-26
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oh, and one more thing KD... you seem to be extremely knowledgeable about coffee... if one does not have a decent local barista do you have a commercial coffee you would recommend? also home expresso machine?
2008-04-08 14:49:11
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Genesis Posts: 71416 Incept: 2007-06-26
KD^2
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Home Espresso Machine? Any of the Quickmill machines that Chris' Coffee sells. Good machines and the guy that runs the place is not full of ****. Good coffee? Chris' has a good espresso blend and the old "Standby" is Black Cat from Intelligentsia in Chicago. Both are excellent; I have a mild preference for Black Cat, but the Black Pearl from Chris' is a bit cheaper. Its only problem is that it comes in a kilo-size bag and if you don't drink a LOT you will throw some away as it will get stale before you consume it all. ---------- "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
2008-04-08 14:58:41
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Mdrive Posts: 632 Incept: 2007-11-26
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thanks for the info...i'll check chris's coffee website... the absolute best coffee i ever had was from a tiny place up in east hampton called 'honest diner' (now out of business) the manager had a blend that she concocted herself called "judi's joe" which i was able procure while the restaurant was up and running (and yep had to get the kilo size bags) thanks again for the reference
2008-04-08 15:15:32
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Plstffls Posts: 96 Incept: 2007-06-26
Brussels, Belgium
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The heart of the matter, again. Time for a great espresso now.
2008-04-08 15:21:07
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Digitalcolony Posts: 335 Incept: 2007-07-09
Seattle
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Amen on the espresso comments. I'm a home coffee roaster that builds my own espresso blends. *$ can not compete on espresso. Some Pacific NW picks that do mail order: Zoka - Espresso Paladino 49th Parallel - Epic Espresso Stumptown - Hair Bender
2008-04-08 15:31:28
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Stevematulis Posts: 1403 Incept: 2008-01-08
Republic of Texas
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KD - thank you again for another excellent ticker. One suggestion/request/idea: could you please try to get into the habit of submitting each new entry to Digg? This way, at least you get to control what the title and summary say, and it makes it easier on readers to simply Digg it rather than being the first to submit it.
2008-04-08 15:51:31
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Bdh Posts: 924 Incept: 2007-12-16 U.S.
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KD wrote..Or just drop by my place sometime and I'll pull you a shot off my Vetrano, and you'll understand. Can you let us know when it is no longer safe to show up at your door? Last week: KD wrote..In fact, the only "dinner invitation" you will get from me under those circumstances is one that has you featured as the main course!
2008-04-08 15:56:19
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Genesis Posts: 71416 Incept: 2007-06-26
KD^2
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When I'm buying BBQ sauce in gallon jugs, its time to be afraid. ---------- "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
2008-04-08 16:00:17
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Nu_uh Posts: 1055 Incept: 2008-02-21
Online
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Karl, You've gotta start roasting your own coffee. Changed my life. Two week old beans? No way. Two _day_ old beans are stale. Changed_my_life! This link will get you started. http://www.sweetmarias.com/
2008-04-08 17:15:03
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Nu_uh Posts: 1055 Incept: 2008-02-21
Online
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Oh, let me add to that thought. I started roasting in my oven without the fancy roasters. Buy 1lb. of green beans. Read up on the roasting, but it's about 12min in the oven. Easy as cake. It's just time consuming, but worth it.
2008-04-08 17:17:20
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Heidiland Posts: 735 Incept: 2007-10-29
Switzerland, where all sheep is white
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Karl, did you think of freezing coffee beans to keep them fresh for longer?
---------- ...women are like derivatives. It's nearly impossible to figure most of them out, and there is a good chance they are going to blow up on you, you just don't know when. -Matt
2008-04-08 17:17:33
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Genesis Posts: 71416 Incept: 2007-06-26
KD^2
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Heidi, it doesn't work. You can refrig and get another week but if you freeze them the taste is destroyed. You pull me two shots, one frozen and one not, and I can tell you which is which. Double-blind, reliably. I've considered roasting my own...... In an espresso machine two days is almost too short. You need time for the beans to "rest" or the crema and extraction is for ****. Usually a day or two does 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 Last modified:
2008-04-08 17:29:56 by genesis
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Blockwood Posts: 8 Incept: 2008-03-24
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hyperinflation or deflation, that is the question. is the FED a money lender only? or they have ways to make more than what they loaned out plus the interest? according to Henry Liu, the central bankers are afraid of deflationary death spiral the most and that's why they would rather hyperinflate. Jim Rogers, Marc Faber and many others seem to have the similar view. the fact is that biggest banks did very well in hyperinflation such as that of Weimar Germany for they always get to access each wave of the depreciating money at the beginning when it has the highest purchasing power. with the amount of IOUs outstanding, can the .gov survive through a deflation without defaulting? if the .gov defaults, then who will be there to protect the property rights of the money lenders?
2008-04-08 17:38:35
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Genesis Posts: 71416 Incept: 2007-06-26
KD^2
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Horse**** Block. During Weimar the banks literally locked the doors and said "**** you!" These folks need to do more reading about history. Its not like there aren't dozens of books out there about what REALLY happened! Weimar was done by the government OUTSIDE of the banks, and the banks revolted, allowing the government to kill itself. Which it did. ---------- "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
2008-04-08 17:40:41
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Blockwood Posts: 8 Incept: 2008-03-24
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not according to Costantino Bresciani-Turroni, The Economics of Inflation. London: George Allen & Unwin, 1937.
2008-04-08 17:48:45
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Pinal Posts: 699 Incept: 2007-08-16
Chicago
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Block, Here is a capture from the book. I don't have access to the whole thing so maybe you can fill in the blanks for me. It looks like something happened between 1913 and 1924 that reduced the capital as well as reserves for all these banks. Maybe they have loaned out all the money to customers and got it back years later with interest to boot. Who knows? By the way, the book also mentions on page 80 that "Private banks, besieged by their clients, found it practically impossible to meet demand for money. They had to ration the cashing of cheques presented to them. On some days they declared that they were obliged to suspend payments or open their offices for a few hours only."
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2008-04-08 18:24:19 by pinal
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Bw8472 Posts: 6446 Incept: 2007-06-28
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The Deflation Inflation debate is not settled yet and won't be for some time. Deflationists have Japan as a model, the only one btw, of a fiat currency that experienced deflation. It's possible but rare. Greenspan mentioned this today, him mentioning that it was rare and he was shocked means the deflationists just surged in the polls as that ignorant **** probably knows something. This I know what you know but do you know what I know game is tired. The FED can't control hyperinflation as the .gov is the spending arm, the FED is the lending arm. If the .gov prints to fix the mess I guess you could argue the debt will implode due to it but I don't think it will, our levels of debt aren't that high yet, we'll see what happens. BTW that's how you read FED speak. Concentrate on what they are baffled about, that's actually the plan most of the time. When they wax on about being baffled by this or that, that's code for I've saved this little ass ****ing just for you, enjoy. ---------- 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 Last modified:
2008-04-08 19:28:17 by bw8472
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