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View Full Version : It's all over now Benny Blue....


Dyl Ulenspiegel
18-03-2009, 20:49:28
http://www.bloomberg.com/apps/news?pid=20601087&sid=ai6tfLuTQsrQ&refer=home

The Bernanke Fed is now monetizing longer term debt.

This is their last card to play. Came really fast..... next stop: Japan or Zimbabwe.

Drekkus
18-03-2009, 21:59:17
you expect large scale inflation now?

Dyl Ulenspiegel
18-03-2009, 22:20:32
Only if it works as intended. :D

MOBIUS
18-03-2009, 23:34:52
Buy Gold.

Asher
18-03-2009, 23:35:50
cash4gold.com

Asher
18-03-2009, 23:36:20
I BUY YOUR USED JEWERY

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BUY GOLD

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MOBIUS
18-03-2009, 23:37:51
Used Jewry?

What, like their gold teeth after they've been gassed to death?

notyoueither
19-03-2009, 02:49:27
Originally posted by Dyl Ulenspiegel
http://www.bloomberg.com/apps/news?pid=20601087&sid=ai6tfLuTQsrQ&refer=home

The Bernanke Fed is now monetizing longer term debt.

This is their last card to play. Came really fast..... next stop: Japan or Zimbabwe.


Since they seem to get to make up their own rules, I'm not sure how it will turn out.

Koshko
19-03-2009, 02:57:25
I've been predicting the Greatest Depression for many months now.

Dyl Ulenspiegel
19-03-2009, 10:49:23
The problem is that while Bernanke is hailed as an expert on the Great Depression, he is so clueless it is simply amazing.

Essentially, I doubt it will make much difference. You can get borrowing costs down maybe another 100-200 bp, but that didn't work for Japan either and has some nasty side effects.

Drekkus
19-03-2009, 13:23:52
so what do you think should be done?

MDA
19-03-2009, 13:48:01
Originally posted by Koshko
I've been predicting the Greatest Depression for many months now.

with a cardboard sign?

Greg W
19-03-2009, 14:24:24
Originally posted by Koshko
I've been predicting the Greatest Depression for many months now. Try some antidepressants perhaps?

Dyl Ulenspiegel
19-03-2009, 14:28:21
Originally posted by MDA
with a cardboard sign?

jesjes

http://2.bp.blogspot.com/_pMscxxELHEg/Sb2YyUr5awI/AAAAAAAAEy4/FBpn6LL2Htk/s320/endisnear+copy.jpg

Dyl Ulenspiegel
19-03-2009, 14:32:12
Originally posted by Drekkus
so what do you think should be done?

Nationalise the big banks, dump the toxic stuff on the state (it's the taxpayers' liability anyway), reprivatize the banks.

Some deficit spending to support household incomes and on infrastructure.

And, most importantly, publicly execute Greenspan and a bunch of bank and hedge funds craptarts and let their corpses rot on Wall Street.

MDA
19-03-2009, 14:48:15
capital punishment? that's barbaric! :lol:

Dyl Ulenspiegel
19-03-2009, 15:00:41
no, just appropriate

Unregistered
19-03-2009, 17:07:36
I agree that crimes (scams/etc) with more than 2million taken should be capital offences.

JM

Funko
19-03-2009, 17:13:57
Unregistered JM?!?!

Unregistered
19-03-2009, 17:22:37
Oops

Funko
19-03-2009, 17:26:56
:lol:

MDA
19-03-2009, 17:32:01
haha

Dyl Ulenspiegel
19-03-2009, 19:22:30
:lol:

The Mad Monk
19-03-2009, 19:39:23
Originally posted by Unregistered
I agree that crimes (scams/etc) with more than 2million taken should be capital offences.

JM

So we'll elect a brand new Congress next year?

Dyl Ulenspiegel
19-03-2009, 19:45:21
capital, not capitol

The Mad Monk
19-03-2009, 19:54:13
Originally posted by The Mad Monk
So we'll elect a brand new Congress next year?

JM^3
19-03-2009, 22:36:00
I would be on board.

JM

Greg W
20-03-2009, 03:28:03
You can't, you're unregistered.

JM^3
20-03-2009, 06:52:31
Not right now I am not.

JM

Funko
20-03-2009, 09:23:05
Originally posted by The Mad Monk
So we'll elect a brand new Congress next year?

I don't see why that's a bad or impractical idea or has any downsides.

Dyl Ulenspiegel
20-03-2009, 09:33:10
They'll elect a ~87.5% new Congress in 2010 anyway. So I don't know why he's asking.

Drekkus
22-03-2009, 20:46:38
Originally posted by Dyl Ulenspiegel
Nationalise the big banks, dump the toxic stuff on the state (it's the taxpayers' liability anyway), reprivatize the banks.

Some deficit spending to support household incomes and on infrastructure.

And, most importantly, publicly execute Greenspan and a bunch of bank and hedge funds craptarts and let their corpses rot on Wall Street. Is credit card debt part of the toxic stuff?

Koshko
22-03-2009, 21:44:25
Originally posted by MDA
with a cardboard sign?


We can't afford markers anymore.

Koshko
22-03-2009, 21:45:00
Originally posted by The Mad Monk
So we'll elect a brand new Congress EVERY year?

FIXED

JM^3
22-03-2009, 21:48:41
We have been electing the same bozos into office for ~100 years. If we got even one congress of mostly new blood I think it would be much better.

And new blood doesn't mean state politician for 5 years.

JM

Koshko
22-03-2009, 21:48:45
Originally posted by Dyl Ulenspiegel
They'll elect a ~87.5% new Congress in 2010 anyway. So I don't know why he's asking.


Try about an ~12.5% new Congress max. The incumbents usually win in the reelection. Basically once you are in, you are pretty much a lifer unless you do something spectacularly stupid.

MDA
23-03-2009, 10:49:02
like forgetting to pass the proper legistlation for the crooks that bankrolled you

Dyl Ulenspiegel
23-03-2009, 11:49:49
Originally posted by Koshko
Try about an ~12.5% new Congress max. The incumbents usually win in the reelection. Basically once you are in, you are pretty much a lifer unless you do something spectacularly stupid.

You should make membership of Congress hereditary. Little effect on the composition, not much more degeneration, maybe less corruption.

Dyl Ulenspiegel
23-03-2009, 11:51:57
Originally posted by Drekkus
Is credit card debt part of the toxic stuff?

Per se, I do not think so. The Credit card business has always operated on risk premiums for larger write offs, compared to the "secure" mortgage business.

Securitized cc debt, maybe yes. But for what ails the banks, credit cards will only be a major problem when the write offs go off the charts. Like, next year...

Koshko
24-03-2009, 00:56:51
Originally posted by Dyl Ulenspiegel
You should make membership of Congress hereditary. Little effect on the composition, not much more degeneration, maybe less corruption.


I live near Chicago. Politics is a family business passed down from generation to generation here.

MOBIUS
24-03-2009, 11:13:46
I thought it was to the highest bidder if Blagowotsisname was anything to go by...

Dyl Ulenspiegel
24-03-2009, 12:42:48
Geithner has now come up with a hilarious plan for toxic assets. I have no idea whether this will work, but if it works it has two funny side effects:

- it was more expansive than nationalization as orivate investors take profits
- by raising prices for toxic assets, it benefits all holders of such assets, not just the US banks

So if it works, thank you, US taxpayer, for propping up our banks.

Lurker
24-03-2009, 13:28:42
You're welcome. Someone had to do it.

Dyl Ulenspiegel
24-03-2009, 15:44:33
Do you pay taxes for your cardboard box?

Lurker
24-03-2009, 16:08:32
In the absence of my benefactors, I felt compelled to acknowledge your thanks.

Koshko
25-03-2009, 00:34:28
Originally posted by MOBIUS
I thought it was to the highest bidder if Blagowotsisname was anything to go by...


The Daley family has been running Chicago for decades, and many of the people that get elected now are the children of people that used to be in office before.

Illinois out-corrupts all other states.

Funko
25-03-2009, 09:49:13
That seems to be almost a badge of honour amongst Illinoisians, I dunno why.

Koshko
25-03-2009, 23:56:33
Well this state is a massive shithole. We'll take what we can get.

Funko
26-03-2009, 09:36:30
:lol:

MDA
26-03-2009, 12:14:16
shitty leadership and a shitty state - its the Circle of Poo

Japher
26-03-2009, 17:12:13
GIGO

Oerdin
27-03-2009, 03:36:11
http://www.npr.org/templates/story/story.php?storyId=102390076

A pretty good NPR report about why the Fed is buying T-Bills. Basically if they can raise the price of the T-Bill then they can lower the yield which means the cost of borrowing for just about everyone in the US gets lower (since so many interest rates are tied to the T-bill). That means lower mortgage interest costs for people with mortgages, lower credit card interest rates, lower auto loan interest rates, and a bunch more.

Of course this is not a sustainable thing to do, as Dyl has pointed out, so it can't continue for long but it is one way to help boost the economy to help get it out of recession.

The Mad Monk
27-03-2009, 15:06:57
This thread needs more KrazyHorse.

Oerdin
27-03-2009, 15:50:49
He spends all of his days at poly now.

Japher
27-03-2009, 15:51:34
sucking on their bandwidth

Koshko
28-03-2009, 21:40:42
I'm just waiting for when the 4n investors finally decide to dump their American holdings en masse and invest in something they feel still has a future. They own literally like 2/3 of the country at this point. When that happens, say goodbye to the USA being a first-world country. Hello utterly worthless currency and things costing 5-10 times as much as they do now.

Turd
31-03-2009, 09:20:13
The economy is a shit sandwich and you all have to take a bite.