morlock

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    • ON: Thu Apr 17th 19:18 PM
      Commented on:
      Waiting and Hoping: A Dangerous Monetary Strategy
      Long a grassy knoller but only lately a neophyte trader, nonetheless gotta agree with siresage: $3.81 a gallon at my fav local pump, an energy dependent global economy paying likewise and Fed high volume currency printing of the last couple fiscal quarters feels like a lot more than 4% inflation to me.

      I was grown during Carter's double digit inflation and remember housing prices were still nothing even relatively like today's stratospheric, yet to fully burst bubble.
      At least banks then wouldn't lend to just any sucker willing to fib on his loan app and have his mortgage secondarily securitized to a CDO.

      As to gordon's "socialism of private markets", Fed underwriting of JPMorganChase firesale purchase of Bear Stearns a la LTCM looks to me more like national socialism than anything ever dreamed of by Marx, Engels or Bentham.

      I'd be grateful just to pry loose the dead boney hands of Morgan, Prescott Bush and Manfred of Sicily from the levers of power so we can move on to the 21st century.
      The current agenda is that of longstanding dynastic wealth, not mere nouveau plutocrats with lobbying clout for legislatively mandated corporate welfare entitlement to pilfer public coffers.

      Will thralls still be allowed to place limit orders in their own names ?
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