flying Posted December 6, 2009 Share Posted December 6, 2009 What if they took the big dog down?"They're going to kill the Fed" http://www.ibtimes.com/articles/20091203/t...ng-kill-fed.htm Regards. That was a good read & funny too After watching the confirmation hearing I am guessing he will be re-appointed. While there were some strong words against that he should get the votes. But I am glad as he should be there to see the result of his deeds. Good or Bad Requiem for the Dollar Link to comment Share on other sites More sharing options...
ronz28 Posted December 6, 2009 Share Posted December 6, 2009 The longer term solution to the financial crisis is to import Asians to the west. Yes, encourage brain drain from India and China to the west to fill up those empty condos and houses, pay into social security, etc. because.... Link to comment Share on other sites More sharing options...
flying Posted December 8, 2009 Share Posted December 8, 2009 Three Strikes on Ben Bernanke: AIG, Goldman Sachs & BAC/TARP 7 December 2009 To us, the confirmation hearings last week before the Senate Banking Committee only reaffirm in our minds that Benjamin Shalom Bernanke does not deserve a second term as Chairman of the Board of Governors of the Federal Reserve System. Including our comments on Bank of America (BAC) featured by Alan Abelson this week in Barron's, we have three reasons for this view:First is the law. The bailout of American International Group (AIG) was clearly a violation of the Federal Reserve Act, both in terms of the "loans" made to the insolvent insurer and the hideous process whereby the loans were approved, after the fact, by Chairman Bernanke and the Fed Board. The loans were not adequately collateralized. This is publicly evidenced by the fact that the Fed of New York (FRBNY) exchanged debt claims on AIG itself for equity stakes in two insolvent insurance underwriting units. What more need be said?... The second strike against Chairman Bernanke is leadership. In an exchange with SBC Chairman Christopher Dodd (D-CT), Bernanke said that he could not force the counterparties of AIG to take a haircuts on their CDS positions because he had "no leverage." Again, this goes back to the issue of why the loan to AIG was made at all. Having made the first error,Bernanke and other Fed officials seek to use it as justification for further acts of idiocy. Chairman Dodd look incredulous and replied "you are the Chairman of the Federal Reserve," to which Bernanke replied that he did not want to abuse his "supervisory powers." Dodd replied "apparently not" in seeming disgust.... The third reason that the Senate should vote no on Chairman Bernanke's second four-year term as Fed Chairman is independence. While Bernanke publicly frets about the Fed losing its political independence as a result of greater congressional scrutiny of its operations, the central bank shows no independence or ability to supervise the largest banks for which it has legal responsibility. And Chairman Bernanke has the unmitigated gall to ask the Congress to increase the Fed's supervisory responsibilities.... Condensed from Jesse's Full version at link above Link to comment Share on other sites More sharing options...
midas Posted December 8, 2009 Share Posted December 8, 2009 I predict Mr. Bernanke will keep his job at the Federal Reserve. That might be poetic justice because this Fed Chief should witness his handy work firsthand. What is coming to America might go down in history as Ben Bernanke’s Hyperinflation and Economic Collapse. Well it hardly seems very democratic if he does Just 21% Favor Bernanke’s Reappointment As Fed Chairman http://www.rasmussenreports.com/public_con...as_fed_chairman Link to comment Share on other sites More sharing options...
flying Posted December 8, 2009 Share Posted December 8, 2009 I predict Mr. Bernanke will keep his job at the Federal Reserve. That might be poetic justice because this Fed Chief should witness his handy work firsthand. What is coming to America might go down in history as Ben Bernanke’s Hyperinflation and Economic Collapse. Well it hardly seems very democratic if he does Actually I think the above quoted reason is a good one for hoping he does in fact get the nomination. Other wise when if it all falls he will say well ......if you had re-appointed me Check out this vanity plate ....It belongs to Morgan Stanley Vice-Chairman Rob Kindler Link to comment Share on other sites More sharing options...
midas Posted December 8, 2009 Share Posted December 8, 2009 that vanity plate says so much about the way they think. even if i had his sort of money i would be keeping a pretty low profile right now A question for Abrak. What seems apparent now is Bernanke's goal to create any inflation could take years to show up ? What happens in the meantime? IMO society wont hold together that long with deflation and more taxes. S&P 500 profits fell for the first time since 1933. The net worth of hundreds of banks and other large corporations has fallen below zero, with some surviving only because of a massive rescue effort by the federal government. Despite these efforts, consumer net worth has fallen, price levels of homes are down about 30% from their peak levels, and business net worth has been impaired by an almost 39% decline in commercial real estate from its peak levels. Industrial production is down 13.3% since its peak, the largest 20-month decline in the post war period. Including potential revisions, the U.S. has lost eight million jobs in this recession, and currently 17% of the labor force is either underemployed, partially employed, or out of work seeking employment. Hoisington_Q3_2.pdf Link to comment Share on other sites More sharing options...
midas Posted December 8, 2009 Share Posted December 8, 2009 This shows how Bernanke and politicians can get away with anything People sign petition to "increase inflation to 100%" to cause hyperinflation. Link to comment Share on other sites More sharing options...
Naam Posted December 8, 2009 Share Posted December 8, 2009 I predict Mr. Bernanke will keep his job at the Federal Reserve. That might be poetic justice because this Fed Chief should witness his handy work firsthand. What is coming to America might go down in history as Ben Bernanke’s Hyperinflation and Economic Collapse. i'd like that very much but unfortunately 99% of american bakeries produce rubbish instead of bread, rolls and baguettes. and the few good ones will be sold out before i can board a flight at Swampy Link to comment Share on other sites More sharing options...
flying Posted December 8, 2009 Share Posted December 8, 2009 (edited) that vanity plate says so much about the way they think. even if i had his sort of money i would be keeping a pretty low profile right now But it is easy to understand their joy..... I mean how easy was that? Look at their stocks all the Too Big To Fail. Still are trading at a fraction of their old numbers yet (except maybe GS who was not a bank anyway).....They seen to have billions in profits. Who needs shareholders & all their pesky requests to share when you have sugar daddy with a press. Who needs customers with their borrowing needs when sugar daddy can take care of everything? Bonuses never looked so good for Xmas till sugar daddy stepped up. Edited December 8, 2009 by flying Link to comment Share on other sites More sharing options...
Abrak Posted December 8, 2009 Share Posted December 8, 2009 Still are trading at a fraction of their old numbers yet (except maybe GS who was not a bank anyway).....They seen to have billions in profits. And the really neat thing is this.... if you dont have any profits you can simply make them up. http://news.bbc.co.uk/2/hi/business/8399048.stm I really like the idea that RBS's 'none -core' businesses made an operating loss of GBP12bn+ and the Group operating loss was GBP5bn as at 9 months. Link to comment Share on other sites More sharing options...
flying Posted December 8, 2009 Share Posted December 8, 2009 Still are trading at a fraction of their old numbers yet (except maybe GS who was not a bank anyway).....They seen to have billions in profits. And the really neat thing is this.... if you dont have any profits you can simply make them up. http://news.bbc.co.uk/2/hi/business/8399048.stm I really like the idea that RBS's 'none -core' businesses made an operating loss of GBP12bn+ and the Group operating loss was GBP5bn as at 9 months. Yes it seems citizens on both sides of the pond are very very tolerant. Link to comment Share on other sites More sharing options...
midas Posted December 9, 2009 Share Posted December 9, 2009 Yes it seems citizens on both sides of the pond are very very tolerant. Until they become conscious they will never rebel, and until after they have rebelled they cannot become conscious. -George Orwel Link to comment Share on other sites More sharing options...
midas Posted December 9, 2009 Share Posted December 9, 2009 (edited) The Great Depression? No, the Great Deception. The Great Moderation? No, the Great Modification. The ridiculously good November NFP is beyond comprehension. It is not supported by ADP data, other private data, ISM data, tax receipts, which still show large declines, retail sales or consumer confidence. Plus the BLS revised September and October NFP 159k higher!!! Thank you, Ministry of Truth! http://anonymousmonetarist.blogspot.com/20...-deception.html Edited December 9, 2009 by midas Link to comment Share on other sites More sharing options...
jazzbo Posted December 9, 2009 Share Posted December 9, 2009 I was able to listen to Rush Limbaugh yesterday afternoon Bangkok time as I found what may be the only streaming radio station that does a full 3-hour rebroadcast at 2 AM EST USA. Yesterday El Rushbo was ranting on about the Climate Conference in Copenhagen... I wonder if you gents could make your case(s) on radio without all those nifty charts... not that you can make them here. But I guess it is comfy here in the small pond. Say what you will about Rush, he does the whole 3 hours 5 days a week largely without notes... stream of neo-consciousness... Link to comment Share on other sites More sharing options...
12DrinkMore Posted December 9, 2009 Author Share Posted December 9, 2009 Here's Volcker on derivatives and financial instruments http://www.telegraph.co.uk/finance/economi...s-industry.html The former US Federal Reserve chairman told an audience that included some of the world's most senior financiers that their industry's "single most important" contribution in the last 25 years has been automatic telling machines, which he said had at least proved "useful". Pity he didn't do much about it whilst he was Chairman. And here is one of our favourite banks in the news again http://www.telegraph.co.uk/finance/finance...s-bad-debt.html British taxpayers stand behind more than £167bn of toxic assets in the US, Ireland, the Middle East and beyond, it has emerged as the Treasury disclosed details of what Royal Bank of Scotland has dumped in the state insurance scheme for bad debts. Can somebody remind me how many billions they are planning to hand out in bonuses for this resounding success story? Was it five? Surely every single penny of the bank's profits should go into setting off these unrealised losses and not handed out in an orgy of bonuses for the boys? This really is a piss take and tantamount to theft and fraud against the UK tax payer. And a little bit So it is beginning to look like that smug git Blair was primarily responsible for putting the UK at war with Iraq. But he shifted blame for the misunderstanding onto Tony Blair, saying greater emphasis had been placed on the 45-minute claim because Mr Blair’s foreword to the dossier was “overtly political”. http://www.telegraph.co.uk/news/worldnews/...n-Scarlett.html Link to comment Share on other sites More sharing options...
Naam Posted December 9, 2009 Share Posted December 9, 2009 So it is beginning to look like that smug git Blair was primarily responsible for putting the UK at war with Iraq. goooood morning Sir 12D! only now for you it's "beginning to look like" what the rest of the world knows as a fact since years? Link to comment Share on other sites More sharing options...
sokal Posted December 9, 2009 Share Posted December 9, 2009 So it is beginning to look like that smug git Blair was primarily responsible for putting the UK at war with Iraq. goooood morning Sir 12D! only now for you it's "beginning to look like" what the rest of the world knows as a fact since years? Blair and Bush both got re-elected after the war already started so I guess you are in the minority when it comes to Iraq. Link to comment Share on other sites More sharing options...
12DrinkMore Posted December 9, 2009 Author Share Posted December 9, 2009 (edited) Whilst Greece and Spain don't seem to have understood the issues, Ireland are making progress to balance the budgets. The Celtic Tiger is the only country that is trying to grapple with the mess and implement solutions which I can understand will hopefully provide long term stability. http://www.independent.co.uk/news/world/eu...ts-1836912.html I suppose it all boils down to whether governments spending tax payers' future earnings to stimulate tax payers to spend more today, which in turn is supposed to stimulate the economy is, at the current levels of deficit budgets, reasonable, or whether you consider that a an amount of GDP shrinkage is a necessary correction back down to a "solid" foundation. It strikes me that, for example, Obamah's latest wheeze to encourage home improvements up to USD 12,000, is another hair brained scheme; and in this case again the dam_n "home debtors" are being supported. http://finance.yahoo.com/news/Cash-for-Cau...ml?x=0&.v=1 Back across to Europe and I am impressed by the Swiss National Bank, as, indeed, have always been impressed by the Swiss. (Just last week they voted to prevent the Islamics from erecting their out of place mosques and equipping them with megawatt amplifiers so we can all benefit from the screamings and wailings. Pity the the Dutch, the British and other countries are so intent on bending over backwards to "help minorities" and allow the spread of this angry and intolerant religion that they have completely lost the plot. Maybe they should consider that if Islam became the majority religion then all the Christian churches would be ripped down?) But I have digressed, I am sure that Hilderbrand will sort out Credit Suisse and UBS. And if there is opposition from those two, then a referendum could take it to the public vote. At least democracy, common sense and the aim of a stable economy exists in one small corner of the world. http://www.bloomberg.com/apps/news?pid=206...id=aDbaRHkbxquY And here comes that <deleted> Darling with his latest effort. http://www.bloomberg.com/apps/news?pid=206...NFXqo&pos=1 He is spouting on about 1.5% economic growth in 2010. Utterly deluded, although removing the ridiculous VAT stimulus will help him a bit, as, indeed, it's implementation went someway towards justifying the deflationary forecasts of this year. And so we head into 2010. Just a few weeks away. So far the economic collapses have not occurred, maybe due to government action in delaying the issues, or maybe the problems were not as calamitous as we were lead to believe. Edited December 9, 2009 by 12DrinkMore Link to comment Share on other sites More sharing options...
hhgz Posted December 10, 2009 Share Posted December 10, 2009 "Check out this vanity plate ....It belongs to Morgan Stanley Vice-Chairman Rob Kindler" No, it does not. The plate is a hoax, and you are easily misinformed. Link to comment Share on other sites More sharing options...
flying Posted December 10, 2009 Share Posted December 10, 2009 "Check out this vanity plate ....It belongs to Morgan Stanley Vice-Chairman Rob Kindler"No, it does not. The plate is a hoax, and you are easily misinformed. You need to do a lil better than calling it. Post a link & prove it..... Matt Taibbi is pretty reliable...Not to say he couldn't be wrong but..... http://trueslant.com/matttaibbi/2009/12/03...e-vanity-plate/ Aren't you the same guy that couldn't read Abraks post properly yesterday & went off on a tangent about it due to your lack of reading comprehension? So you know glass houses stones etc? http://www.thaivisa.com/forum/Us-Destined-...52#entry3191352 Link to comment Share on other sites More sharing options...
midas Posted December 10, 2009 Share Posted December 10, 2009 (edited) debts debts debts - there is no way to pay these in deflationary times The Organisation for Economic Cooperation and Development has warned that the world’s 30 leading industrialised economies will see their indebtedness grow to 100 percent of output in 2010, a near doubling from the percentage 20 years ago. http://www.qatar-tribune.com/data/20091130...ion=Business3_6 and a list of problem countries - and not even including USA or Japan Edited December 10, 2009 by midas Link to comment Share on other sites More sharing options...
flying Posted December 10, 2009 Share Posted December 10, 2009 Spain's Debt Woes Echo Europe's Uneven Rebound Spain became the latest euro-zone country to face a possible downgrade of its government debt, raising fears Wednesday that similar fiscal woes triggered this week in Greece are spreading.The situation highlights the divergent paths that euro-zone countries are taking out of the most severe economic downturn since the 1930s. Ireland and a number of Southern European countries that outpaced larger nations during flush times are emerging from the crisis with their economies and finances in much worse shape than Germany and France. Full article at link above Link to comment Share on other sites More sharing options...
midas Posted December 10, 2009 Share Posted December 10, 2009 Spain's Debt Woes Echo Europe's Uneven Rebound [ Place your bets......Spain, Greece .where next ? In the video below, Incoming Citigroup Chief Economist Willem Buiter discusses with Bloomberg what the crisis in Greece means not just for the Greeks but also for the Brits, Americans, Irish, Portuguese, Italians – all of whom have less than ‘pristine’ government finances. What happens in Greece is pivotal for the global economy because a default there would likely trigger distress elsewhere. http://www.creditwritedowns.com/2009/12/bu...for-greece.html Link to comment Share on other sites More sharing options...
Naam Posted December 10, 2009 Share Posted December 10, 2009 what's going on? six hours no youtube clips, no horror news, no apocalyptic riders galopping. no bakeries for sale for an ounce of gold. is the financial crisis over? Link to comment Share on other sites More sharing options...
flying Posted December 10, 2009 Share Posted December 10, 2009 (edited) Report: Foreclosure Filings Hit 306K Properties Last Month Foreclosure filings — default notices, scheduled auctions and bank repossessions — hit 306,627 U.S. properties in November, the ninth straight month of 300,000-plus filings, reported RealtyTrac, an online marketplace for foreclosures. full article at link above Over 300k for nine months in a row. That is quite a bit of inventory to be auctioned. Also although they have said from the start of TARP there would be hope for home-owners.... Seems to have been the same hope used in the hope & change slogan. Edited December 10, 2009 by flying Link to comment Share on other sites More sharing options...
flying Posted December 10, 2009 Share Posted December 10, 2009 Watching a good interview with Jim Rogers on CNBC today. He is pretty interesting & makes some good points ...investing in Asia.. Obama,,, Bernanke etc. Also feels the next bubble forming is the US Bond market Here is another one & article from today. http://finance.yahoo.com/tech-ticker/artic...Then-Abolish-It Link to comment Share on other sites More sharing options...
jazzbo Posted December 10, 2009 Share Posted December 10, 2009 Watching a good interview with Jim Rogers on CNBC today... He is pretty interesting & makes some good points. So the Peanut Gallery thinks Jim Rogers makes some good points... Kinda like saying Newton made some good points about gravity. According to Wikipedia... In 1970, Rogers joined Arnhold & S. Bleichroeder. That same year, Rogers co-founded the Quantum Fund. During the following 10 years the portfolio gained 4200% while the S&P advanced about 47%... It was one of the first truly international funds. As in George Soros's Quantum Fund. If Jim Rogers tells you it it is a good time to buy X, the only thing you can count on is that he has already bought X and is waiting for you to buy so he can sell. Link to comment Share on other sites More sharing options...
flying Posted December 11, 2009 Share Posted December 11, 2009 Cool little story about Neel Kashkari Paulsons Bailout guy in charge of the 700 billion. He bugged out & lives in the hills now. The $700 billion man Link to comment Share on other sites More sharing options...
BlackJack Posted December 11, 2009 Share Posted December 11, 2009 what's going on? six hours no youtube clips, no horror news, no apocalyptic riders galopping. no bakeries for sale for an ounce of gold. is the financial crisis over? just lining up the dominos so that when they all fall over we can all see the pretty picture Link to comment Share on other sites More sharing options...
lannarebirth Posted December 11, 2009 Share Posted December 11, 2009 what's going on? six hours no youtube clips, no horror news, no apocalyptic riders galopping. no bakeries for sale for an ounce of gold. is the financial crisis over? just lining up the dominos so that when they all fall over we can all see the pretty picture 23 trading days closing in a 2% range. "This will not stand" Link to comment Share on other sites More sharing options...
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