thats what I was going for.
Tu Stultus Es
Depends, right now the stock market is overvalued, unstable, based on the bailout, hot air and the ginormous profits all the banks expect to make through their flaky trading of invented products all over again.JohnG@lt wrote:
Not a scare tactic at all. This isn't something I read on Fox or the WSJ or anything like that. It's just a gut feeling that I personally have. I don't think the laymen fully understands or appreciates how much the Fed Chairman has an effect on the economy. You may not like Bernanke, hell I'm not a huge fan myself, but he's done a good job getting us through this deficit. If the Senate starts using populist politics now to win a few votes it's going to have a devastating impact on the economy. There's already enough anti-business rhetoric as it is. If they follow through on this it's going to cause mass mayhem on the stock market. Why? As I said above, the market, and business in general, needs a stable environment in order to flourish and grow. What's coming out of Washington right now is destabilizing.
If restabilising the market means bringing it down to earth then so be it.
Fuck Israel
There are still private sources were M3 can be compiled. A better look at money supply would be Murray Rothbard's TMS (True Money Supply).Diesel_dyk wrote:
In fact, I've posted in the past about how Bernenke got into office February 1, 2006 and in march of 2006 the Fed stopped reporting on M3 money, http://www.federalreserve.gov/Releases/h6/discm3.htm and M3 is all large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. M3 is where the paper CDOs, credit default swaps and all the paper junk that inflated exponentially.
I had to laugh. I don't think he needs to be shot btw, just needs to step down.Diesel_dyk wrote:
IMO he deserves a jail cell, and if this were China he would probably be executed for his role in recking the economy. But since this has become upside down land, he'll probably get a medal because looking out for the interests of big banks has now become synomous with the public/national interest.
There's both anti-business rhetoric coming from Washington and Wall Street.
Assuming he was compitent, he picked it up in 2002-03 when the good economist did. At this point he would have been writing articles and papers about the bubble and how it had to be burst before it could do serious harm.JohnG@lt wrote:
No, he didn't ignore it, and he didn't miss it. There just wasn't a whole lot that he could do about it. He doesn't have regulatory powers beyond setting the discount window rate. The Fed honestly doesn't do a whole lot but it's a bogeyman to a lot of people because of it's perceived mythical powers.PureFodder wrote:
So they guy either missed the housing bubble or chose to do nothing about it. He didn't talk about it before he became FED chair, or after it. Presumably he therefore didn't care about it if he had seen it before getting the position. Generally speaking, the guy did a crappy job as an economist. Why anyone would want him as FED chair is beyond me.
He actually wrote articles, and gave advice to congress about how the housing market wasn't really much to be concerned with.
He's not a good economist.
The Fed chairman is quite limited in what he can talk about publicly because if he says too much it starts panics. Even mentioning the housing market at all meant that it was a serious issue. Yes, I think it's stupid myself, but the Fed has to wrap their message in about fifty layers of misdirecting words so that it doesn't scare people who don't have a comprehension of economics. The more opaque the message, the better, because it keeps Joe the Plumber from panicking and selling off all his assetsPureFodder wrote:
Assuming he was compitent, he picked it up in 2002-03 when the good economist did. At this point he would have been writing articles and papers about the bubble and how it had to be burst before it could do serious harm.JohnG@lt wrote:
No, he didn't ignore it, and he didn't miss it. There just wasn't a whole lot that he could do about it. He doesn't have regulatory powers beyond setting the discount window rate. The Fed honestly doesn't do a whole lot but it's a bogeyman to a lot of people because of it's perceived mythical powers.PureFodder wrote:
So they guy either missed the housing bubble or chose to do nothing about it. He didn't talk about it before he became FED chair, or after it. Presumably he therefore didn't care about it if he had seen it before getting the position. Generally speaking, the guy did a crappy job as an economist. Why anyone would want him as FED chair is beyond me.
He actually wrote articles, and gave advice to congress about how the housing market wasn't really much to be concerned with.
He's not a good economist.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
One observation I have made;
When stocks get hammered commodities also go down, like copper, soy, corn and gold.
It makes the cost of business for those who vend commodities less at the same time the job market is devalued because of declining worth of companies, making it harder to sell the commodities. We are poised for another nasty deflation cycle and gold and oil will reset to levels that reflect the real economy which shows weak demand across the board.
Note that net government jobs lost during the last five years is zero. Certain small towns have had to lay off public workers but most of the other fund the wages and pensions with borrowing.
I personally will get concerned when I see state and federal governments lay of 25% of the workers. Most government employees have no other skills and will surely riot. But, the layoffs are inevitable.
I still believe this whole period will go down in history as being as bad or worse than The Great Depression. I still believe that many borders will not survive this, including perhaps ours.
I believe we are only in the middle of the beginning of the first stage of the process, a process that will lead to a place Rand and Orwell imagined.
When stocks get hammered commodities also go down, like copper, soy, corn and gold.
It makes the cost of business for those who vend commodities less at the same time the job market is devalued because of declining worth of companies, making it harder to sell the commodities. We are poised for another nasty deflation cycle and gold and oil will reset to levels that reflect the real economy which shows weak demand across the board.
Note that net government jobs lost during the last five years is zero. Certain small towns have had to lay off public workers but most of the other fund the wages and pensions with borrowing.
I personally will get concerned when I see state and federal governments lay of 25% of the workers. Most government employees have no other skills and will surely riot. But, the layoffs are inevitable.
I still believe this whole period will go down in history as being as bad or worse than The Great Depression. I still believe that many borders will not survive this, including perhaps ours.
I believe we are only in the middle of the beginning of the first stage of the process, a process that will lead to a place Rand and Orwell imagined.
JohnG@lt wrote:
The more opaque the message, the better, because it keeps Joe the Plumber from panicking and selling off all his assets.
JohnG@lt wrote:
This is my warning to you. If you have investments in stock dump them as soon as you can.
Fuck Israel
And your point is what? I wasn't basing my warning off of anything he said. It was based on the irrationality of those who 'play' the stock market. If Bernanke is in trouble people will get scared and pull out. I was giving a preemptive warning of what to expect.Dilbert_X wrote:
JohnG@lt wrote:
The more opaque the message, the better, because it keeps Joe the Plumber from panicking and selling off all his assets.JohnG@lt wrote:
This is my warning to you. If you have investments in stock dump them as soon as you can.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
The point is you're taking a snippet of information and going into a panic, just like the plumber you ridicule.
Fuck Israel
Sure, you could look at it that way. I'm not wrong in the slightest though. If they block his confirmation the stock market will take a big hit. They'll see it as a sign of impending massive intrusion and regulation.Dilbert_X wrote:
The point is you're taking a snippet of information and going into a panic, just like the plumber you ridicule.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
So it takes a big hit. It has been over pumped, out of whack with main street.
Again, banks were given billion to ease the credit. They used the funds to play stocks and handout bonuses. FUCK 'EM.
So stocks are still massively oversold and can not go down anymore. Those are the ones to buy.
Don't listen to these idiots; " buy gold, it is at an historical high " because you never buy anything at an historical high.
As far as I'm concerned Ben keeps the interest of his keepers first ( The Bank of England ) and serves the people of America second.
Why is it that we assumed greenspan was a genius? Ben B. is just another goon trying to steel your stuff. You should figure out a way to exploit the coming crash or as you said, get out of it.
Again, banks were given billion to ease the credit. They used the funds to play stocks and handout bonuses. FUCK 'EM.
So stocks are still massively oversold and can not go down anymore. Those are the ones to buy.
Don't listen to these idiots; " buy gold, it is at an historical high " because you never buy anything at an historical high.
As far as I'm concerned Ben keeps the interest of his keepers first ( The Bank of England ) and serves the people of America second.
Why is it that we assumed greenspan was a genius? Ben B. is just another goon trying to steel your stuff. You should figure out a way to exploit the coming crash or as you said, get out of it.
Oh, you're one of those that thinks the Fed is a vast conspiracy foisted upon the American people by their British banker overlords?
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
I agree, in fact you're right. One way to beat the market is to out-think the lemmings who make up most of the market.JohnG@lt wrote:
Sure, you could look at it that way. I'm not wrong in the slightest though. If they block his confirmation the stock market will take a big hit. They'll see it as a sign of impending massive intrusion and regulation.Dilbert_X wrote:
The point is you're taking a snippet of information and going into a panic, just like the plumber you ridicule.
The hard part of staying one fraction of a step ahead of them is to then distinguish yourself from them.
Fuck Israel
But its true, thats what we did.JohnG@lt wrote:
Oh, you're one of those that thinks the Fed is a vast conspiracy foisted upon the American people by their British banker overlords?
Fuck Israel
I have nothing invested in the stock market to begin with.
The actions of Wall Street mean little to me so long as I have guns and the will to use them if I need to.
The Fed needs to die, but I can't say I care much for the stock market either.
The actions of Wall Street mean little to me so long as I have guns and the will to use them if I need to.
The Fed needs to die, but I can't say I care much for the stock market either.
Crikey - lowing has hacked Turq's account.Turquoise wrote:
I have nothing invested in the stock market to begin with.
The actions of Wall Street mean little to me so long as I have guns and the will to use them if I need to.
The Fed needs to die, but I can't say I care much for the stock market either.
I'm going to let this blip settle out and buy some stock.
Last edited by Dilbert_X (2010-01-24 22:04:55)
Fuck Israel
Well gee, who owns the federal reserve?JohnG@lt wrote:
Oh, you're one of those that thinks the Fed is a vast conspiracy foisted upon the American people by their British banker overlords?
There are a rare few things I agree with lowing on... lolDilbert_X wrote:
Crikey - lowing has hacked Turq's account.
I'm going to let this blip settle out and buy some stock.
and if you're a short term investor you may care. The day to day fluctuations on these kinds of trivial matters have little effect on mid-long term invesment in shares.JohnG@lt wrote:
Sure, you could look at it that way. I'm not wrong in the slightest though. If they block his confirmation the stock market will take a big hit. They'll see it as a sign of impending massive intrusion and regulation.Dilbert_X wrote:
The point is you're taking a snippet of information and going into a panic, just like the plumber you ridicule.
Have you been watching Taxi Driver again?Turquoise wrote:
I have nothing invested in the stock market to begin with.
The actions of Wall Street mean little to me so long as I have guns and the will to use them if I need to.
The Fed needs to die, but I can't say I care much for the stock market either.
He was supposed to cause the panic and deflate the bubble as soon as he saw it. That's the job. If you are FED chairman and you see a rising bubble you can either pop it now or wait for it to pop later, when it's bigger and more harmful.JohnG@lt wrote:
The Fed chairman is quite limited in what he can talk about publicly because if he says too much it starts panics. Even mentioning the housing market at all meant that it was a serious issue. Yes, I think it's stupid myself, but the Fed has to wrap their message in about fifty layers of misdirecting words so that it doesn't scare people who don't have a comprehension of economics. The more opaque the message, the better, because it keeps Joe the Plumber from panicking and selling off all his assetsPureFodder wrote:
Assuming he was compitent, he picked it up in 2002-03 when the good economist did. At this point he would have been writing articles and papers about the bubble and how it had to be burst before it could do serious harm.JohnG@lt wrote:
No, he didn't ignore it, and he didn't miss it. There just wasn't a whole lot that he could do about it. He doesn't have regulatory powers beyond setting the discount window rate. The Fed honestly doesn't do a whole lot but it's a bogeyman to a lot of people because of it's perceived mythical powers.
He actually wrote articles, and gave advice to congress about how the housing market wasn't really much to be concerned with.
He's not a good economist.
The general practice is to clean up the mess after the bubble has popped.PureFodder wrote:
He was supposed to cause the panic and deflate the bubble as soon as he saw it. That's the job. If you are FED chairman and you see a rising bubble you can either pop it now or wait for it to pop later, when it's bigger and more harmful.JohnG@lt wrote:
The Fed chairman is quite limited in what he can talk about publicly because if he says too much it starts panics. Even mentioning the housing market at all meant that it was a serious issue. Yes, I think it's stupid myself, but the Fed has to wrap their message in about fifty layers of misdirecting words so that it doesn't scare people who don't have a comprehension of economics. The more opaque the message, the better, because it keeps Joe the Plumber from panicking and selling off all his assetsPureFodder wrote:
Assuming he was compitent, he picked it up in 2002-03 when the good economist did. At this point he would have been writing articles and papers about the bubble and how it had to be burst before it could do serious harm.
He actually wrote articles, and gave advice to congress about how the housing market wasn't really much to be concerned with.
He's not a good economist.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
My portfolio is up 2.7% today...
time to dump it all and buy gold tomorrowGhandi767 wrote:
My portfolio is up 2.7% today...
Tu Stultus Es
You talkin' to me?Braddock wrote:
Have you been watching Taxi Driver again?Turquoise wrote:
I have nothing invested in the stock market to begin with.
The actions of Wall Street mean little to me so long as I have guns and the will to use them if I need to.
The Fed needs to die, but I can't say I care much for the stock market either.