lannarebirth Posted November 24, 2009 Share Posted November 24, 2009 Nice work on your GDP revision, from last week, Abrak. I think it was you anyway. Link to comment Share on other sites More sharing options...
Abrak Posted November 24, 2009 Share Posted November 24, 2009 I received a comment to the idea behind this post.... http://www.thaivisa.com/forum/Financial-Cr...44#entry3154044 ....by an economist (who, although vaguely well regarded, is also thought of as a bit of a lunatic) which is the point I am missing is that Bernanke is the biggest hedge fund manager of all. And he is right to the extent that you cannot improve the USA's core growth rate without improving its relative productivity of capital. And to do that given they (being China) are not subject to market forces through capital controls, you can only revalue the RMB through passing the costs on to others. Link to comment Share on other sites More sharing options...
Abrak Posted November 24, 2009 Share Posted November 24, 2009 Nice work on your GDP revision, from last week, Abrak. I think it was you anyway. Actually I dont know if that was faint praise at a prediction that US 3Q GDP growth would be revised down or not. It is very simple to expect a downward revision if they revise two of their numbers that make up their forecast. Obviously they often skirt the whole issue by revising down 2Q so that they keep 3Q growth the same or whatever. For instance what they have done this time is revise their GDP deflator (i.e. inflation) (an incredibly dodgy figure) by about 0.5% annualized or else growth 3Q would have been revised even lower in line with their consumption and trade figure revisions. Or it could have been a well deserved dig at a 3Q forecast which turned out at 5.5% for Thailand which I expected to be well over 10%. It is not simply a case of I cant add but because a lot of data is missing in the BoT figures. I simply made assumptions for those figures by progressing 2Q/1Q on to 3Q/2Q. And this did not happen or given that something like gross capital formation is a highly subjective figure, the BoT might possibly be suppressing growth numbers to minimize sterilization. Link to comment Share on other sites More sharing options...
jazzbo Posted November 24, 2009 Share Posted November 24, 2009 (edited) The New York Times ran an article this morning entitled Fed Cautious About Strength of Recovery . It contains a quote from the Fed summary of the meeting which I have edited for popular consumption on this forum: “Stupid Members noted the possibility that some irresponsible negative side effects might result from the insane maintenance of very low short-term interest rates on FIAT currency,” the central bank reported in its summary of the meeting. Though policy makers decided the risks were "relatively low" but FUBAR, the Fed said, they agreed to remain can't-see-the-forest-for-the-trees “alert.” http://www.nytimes.com/2009/11/25/business.../25fomc.html?hp Edited November 24, 2009 by jazzbo Link to comment Share on other sites More sharing options...
flying Posted November 25, 2009 Share Posted November 25, 2009 (edited) One of the inherent problems with an ignore function is that it is difficult to ignore a users comments if someone else quotes them.TV's ignore function is particularly irritating. It requires quite a lot of effort to make the thread mask someone's posts. Obviously everyone has already the option of reading or ignoring someone's posts. But ultimately, it comes down to this. I place him on ignore because I think he is a moron with nothing to contribute to the thread. True but I find the ignore option vastly preferred to seeing all of spazzbo's utterly useless comments. As you said he adds nothing what so ever but,........... constantly likes to dance his SNL church lady dance..... Basically a hollow shell. But ....Unlike you I have no option anxieties about to read or not. I do not. As for those who quote him ....In reality it is just the person you mentioned & while I like him...many of his posts recently are as empty as spazzbo's so if I see him quoting spazz I just bypass it. I mean I can only read stories about wet dreams etc so often then it loses its impact. Hope you dont let it drive you away. Because while I may not agree with all you post I have learned a lot from your posts & hope to learn more. Edited November 25, 2009 by flying Link to comment Share on other sites More sharing options...
jazzbo Posted November 25, 2009 Share Posted November 25, 2009 (edited) I place him on ignore because I think he is a moron with nothing to contribute to the thread. Thank you. From you, Kuhn A., I consider that a great compliment as you realize your insipid observations on the macro-economy would hold up nowhere else except on this and a few other forum topics... Again, I am used to the agree-with-me-or-burn-in-hel_l school of discourse and, for the time being, I will just allow you and the boys to jerk each other off with your charts and whatever while you wait and root for the $US to go to zero.. Edited November 25, 2009 by jazzbo Link to comment Share on other sites More sharing options...
flying Posted November 25, 2009 Share Posted November 25, 2009 FDIC fund falls into red, Bair urges lending Link to comment Share on other sites More sharing options...
quiksilva Posted November 25, 2009 Share Posted November 25, 2009 I'm surprised there's been no mention of the secret loans of 61bn pounds to rescue RBS and HBOS last year. Its all been paid back now, but still despicable considering that they did this covertly, with tax payers money. Link to comment Share on other sites More sharing options...
hhgz Posted November 25, 2009 Share Posted November 25, 2009 "Jamie Dimon? Oh My Lord!" I have a feeling that, no matter who's name was mentioned, you'd be reduced to tears and drama. Link to comment Share on other sites More sharing options...
Naam Posted November 25, 2009 Share Posted November 25, 2009 I'm surprised there's been no mention of the secret loans of 61bn pounds to rescue RBS and HBOS last year. Its all been paid back now, but still despicable considering that they did this covertly, with tax payers money. their secrecy was based on a valid reason. they were afraid of "12DrinkMore". last year the title of this thread contained his message "ready to kill". Link to comment Share on other sites More sharing options...
lannarebirth Posted November 25, 2009 Share Posted November 25, 2009 "Jamie Dimon? Oh My Lord!"I have a feeling that, no matter who's name was mentioned, you'd be reduced to tears and drama. You know, if I owned a bank, he's just the guy I'd want to run it. He is an extremely capable manager. If I needed someone to manage an economic plan in the public interest I think I'd probably keep looking. If selected, he'll make the market move, you can count on that. Link to comment Share on other sites More sharing options...
midas Posted November 25, 2009 Share Posted November 25, 2009 I'm surprised there's been no mention of the secret loans of 61bn pounds to rescue RBS and HBOS last year. Its all been paid back now, but still despicable considering that they did this covertly, with tax payers money. But at least some people want the banks.........what if it was a tax for something that people dont even support any more ? War surtax: 'Pay as you fight' http://www.politico.com/news/stories/1109/29851.html Link to comment Share on other sites More sharing options...
Abrak Posted November 25, 2009 Share Posted November 25, 2009 Its all been paid back now, but still despicable considering that they did this covertly, with tax payers money. Well to be strictly fair to the BoE, they didnt strictly use tax payers money, they simply printed it. Link to comment Share on other sites More sharing options...
jazzbo Posted November 25, 2009 Share Posted November 25, 2009 FDIC fund falls into red, Bair urges lending If you actually read the article, it says: The FDIC will soon get an infusion of $45 billion through a plan to have the banking industry prepay three years of assessments. While those extra funds will boost the FDIC's cash on hand, accounting rules will stop the FDIC from including all the money immediately in the fund balance. quoted accurately this time, nyet?... so Henny Penny it looks like the sky isn't ready to fall just yet...but you can keep hoping. Link to comment Share on other sites More sharing options...
jazzbo Posted November 25, 2009 Share Posted November 25, 2009 BTW you 3 or 4 or whatever number of gentlemen can put me on ignore all you want... and I agree I do have a little fun at your expense... but what others who do not use the ignore see is that there is a small group of libertarian anti-government persons here who have nothing but ridicule, scorn, and sarcasm for anybody here or in the government or academia itself who might disagree with them... I think if you look at my posts on other forums you might disagree but you would not say that i am an idiot. But from the very first day I posted here it was obvious that you consider this Topic your personal fiefdom and that anybody who might have a differing view should go elsewhere and you have literally said so... and the fact that there never seems to be more than 3 or 4 people at a time viewing here shows how insular all you guys have become... but since all my posts are on ignore then only persons other than yourselves are reading this. I think most Professional short-sellers out there bet against the economy or the US Dollar because they honestly believe that's where things are heading... but I do not believe that they HOPE things go that way because they have some fundamentalist Full-Scale-War agenda which is how I look at you guys... as in it will be the end of the world only for those who do not own gold. So bring on the Armageddon to drive those heathen irresponsible FIAT-lovers out of power... Link to comment Share on other sites More sharing options...
teletiger Posted November 25, 2009 Share Posted November 25, 2009 Actually Jazzbo, your little bit of fun is at everybodies expense. But that's not your concern, right? You pour scorn on the opinions of all and sundry, whilst at the same time pontificating your own spurious drivel. 'And you wonder why people put you on ignore? We are all entitled to an opinion and this being a public forum one must expect opinions from across the whole spectrum. Please show a little respect for other people's rights Jazzbo. Regards. Link to comment Share on other sites More sharing options...
jazzbo Posted November 25, 2009 Share Posted November 25, 2009 You're darn straight -- when those on this topic decide to disparage persons that have the real responsibility to manage the USA economy and call them all but dysfunctional, I will pour as much scorn on them as possible without violating Forum rules. If they want to continue the sham of a dispassionate analysis of the 'Financial Crisis' whilst, as you out it, pursuing some Libertarian agenda, I will mock and scorn that hypocrisy as well. You and everybody else are entitled to your opinion if you present that opinion without subterfuge... and derisively referring to persons and currency as stupid,insane, irresponsible, or worthless. ... and again I for years dealt with the agree-with-me-or-burn-in-hel_l-discourse of Christian Fundamentalist (now Reconstructionist) persons who enter a conversation already knowing by virtue of Faith that the are possessed of the Truth; and are intolerant of the views held by anybody else... and if people want to put me on ignore, at least in this case, I will take that as an honor. pontificating your own spurious drivel. ? I guess you UK guys never watched Froggy the Gremlin. Link to comment Share on other sites More sharing options...
flying Posted November 25, 2009 Share Posted November 25, 2009 (edited) Ouch !! Thanks Boys Edited November 25, 2009 by flying Link to comment Share on other sites More sharing options...
loverboy44 Posted November 25, 2009 Share Posted November 25, 2009 Well guys, i read this thread today, starting from the last page. I can only say what worries me in the whole discussion and that is why hedge funds are borrowing money in the US (because it's so dam_n cheap now) and invest it someplace else (China, Europe, etc.). They then have to change $ into whatever currency. Does not make the $ strong, does it. For what reason do US banks do this? Seems to me they do like before the crisis. Link to comment Share on other sites More sharing options...
Naam Posted November 26, 2009 Share Posted November 26, 2009 I'm surprised there's been no mention of the secret loans of 61bn pounds to rescue RBS and HBOS last year. Its all been paid back now, but still despicable considering that they did this covertly, with tax payers money. But at least some people want the banks.........what if it was a tax for something that people dont even support any more ? there are people who support taxes? Link to comment Share on other sites More sharing options...
Naam Posted November 26, 2009 Share Posted November 26, 2009 Well guys, i read this thread today, starting from the last page. I can only say what worries me in the whole discussion and that is why hedge funds are borrowing money in the US (because it's so dam_n cheap now) and invest it someplace else (China, Europe, etc.). They then have to change $ into whatever currency. Does not make the $ strong, does it.For what reason do US banks do this? Seems to me they do like before the crisis. to make profit by using not only the interest rate difference but also the depreciating currency in which they take loans. Link to comment Share on other sites More sharing options...
teletiger Posted November 26, 2009 Share Posted November 26, 2009 You're darn straight -- Blah, blah, blah, blah. So....you're declaring yourself a super hero. The Saviour of the political class. Yet, one wonders, as you sit in front of your screen in your Jman outfit, why exactly you bother to clean up this miserable excuse of a site. Just google “Bernanke is an idiot” and 235,000 sites come up. Something for you to get your indignant righteousness involved in there, no? No, maybe there's something else giving you a hard-on for this thread, something more basic. Face. More precisely, loss of face. People have you on ignore and you don't like it. Even worse, these cretins have declared to the world (well, this site anyway) that they have you on ignore. Oh, the ignominy. Well a rapier-like wit and an acerbic tone don't come free. By the way, when wearing your underpants on the outside, be sure there are no untoward “marks” on show. Regards. Link to comment Share on other sites More sharing options...
jazzbo Posted November 26, 2009 Share Posted November 26, 2009 Thank you Sir... You prove my point if I had any real point to make. Link to comment Share on other sites More sharing options...
jazzbo Posted November 26, 2009 Share Posted November 26, 2009 People have you on ignore and you don't like it. Even worse, these cretins have declared to the world (well, this site anyway) that they have you on ignore. Oh, the ignominy. Doesn't really bother me... They have me on ignore so then they don't have to countenance that there is actually someone out there -- even a moron -- that doesn't agree with them. BTW cretin is your word; not mine... Link to comment Share on other sites More sharing options...
flying Posted November 26, 2009 Share Posted November 26, 2009 By the way, when wearing your underpants on the outside, be sure there are no untoward “marks” on show. Dang Tele you made me choke Your description did make me think of this pic though Link to comment Share on other sites More sharing options...
Naam Posted November 26, 2009 Share Posted November 26, 2009 You're darn straight -- Blah, blah, blah, blah. Just google “Bernanke is an idiot” and 235,000 sites come up. that reminds me of the "shit and flies" argument. billions of flies consider shit to be a delicacy. can trillions (ancestral generations of flies included) be wrong? Link to comment Share on other sites More sharing options...
jazzbo Posted November 26, 2009 Share Posted November 26, 2009 Your description did make me think of this pic though Link to comment Share on other sites More sharing options...
AlexLah Posted November 26, 2009 Share Posted November 26, 2009 Dear all, Just returned from a meeting and would like to share with you some of the things discussed. The outsourcing of the manafacturing base to low wage countries has been a succes. The next step is to outsource all non person to person jobs and it is estimated that another 10 Million jobs from the US will be outsourced, think of bean counters, radiologists and such, this is already happening on a small scale but will grow. Target for the price of oil in the next 4 months is around 110 USD, Gold will rise to about 1300-1350 USD at year end. Take care all! Link to comment Share on other sites More sharing options...
lannarebirth Posted November 26, 2009 Share Posted November 26, 2009 (edited) Dear all,Just returned from a meeting and would like to share with you some of the things discussed. The outsourcing of the manafacturing base to low wage countries has been a succes. The next step is to outsource all non person to person jobs and it is estimated that another 10 Million jobs from the US will be outsourced, think of bean counters, radiologists and such, this is already happening on a small scale but will grow. Target for the price of oil in the next 4 months is around 110 USD, Gold will rise to about 1300-1350 USD at year end. Take care all! I could live with the outsourcing if I believed it contributed to widely raising the living standards of populations in the poorest countries. I'm not convinced that is the case. http://www.chinahush.com/2009/10/21/amazin...ution-in-china/ Edited November 26, 2009 by lannarebirth Link to comment Share on other sites More sharing options...
jazzbo Posted November 26, 2009 Share Posted November 26, 2009 Outsourcing results can go both ways: (May 2006) Deloitte Consulting released a study last spring concluding that 70% of large companies had negative experiences with outsourcing and 25% had brought outsourcing projects back in-house. Last week, Deloitte learned Diebold will take work it outsourced to Deloitte back in-house... Outsourcing is going through something of an adjustment. Growth is still roaring ahead, especially in low-cost countries, but companies are realizing that the cost savings can be washed out by the lack of flexibility and increased complexity. After a dash to capitalize on the trend, companies are learning where outsourcing does and doesn't work Link to comment Share on other sites More sharing options...
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