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Tony Petroski

Tony Petroski
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  • How the Fed Could Fix The Economy -- And Why It Hasn't [View article]
    Mr. GreenRiver and Mr. Wagner.

    I is here. I is the guy swimming upstream in the Mississippi. That bridge fell into the river because they over-loaded it while they were repairing it...

    Yikes.

    I didn't want to conjure-up the class-actions.

    From Mr. GreenRiver:

    "How many more of the 75,000 highway bridges need to collapse before you admit that there is a problem?"

    Wowser. Would one be enough?

    Mr. GreenRiver. The bridge that fell into the river has been replaced. The new one is up and running. 13 people (tragically) met their fate when the original bridge collapsed. I haven't checked CNN today, but as of the latest...none of the other 75,000 have collapsed.

    I guess on this one I'm siding with Mr. Wagner.
    Feb 27 12:03 PM | 1 Like Like |Link to Comment
  • Quantitative Easing: The Cartoon Is Too Clever [View article]
    (With the benefit of hindsight)

    "Mr. McTeer: 'The challenge is to get the amount of money growth that results roughly in line with the capacity of the economy to grow in real terms—around 3-4 percent per year at full employment, somewhat faster at 9.6 percent unemployment.""

    We have achieved faster than 9.6 percent unemployment--I think we hit 9.7 there for a week or two.

    But the new normals are overtaking us because QE 6.5 is leading to QE 8.0 and I suspect, two years hence, Mr. McTeer has less confidence in full employment led by the Fed.
    Feb 27 11:49 AM | Likes Like |Link to Comment
  • Heard on Target's (TGT) earnings call: 1) The first 24 stores in Canada will open in April and 128 stores will be opened before Christmas. 2) Execs say they have a "tempered" view on near-term consumer spending with the U.S. growing "painfully slow," but think the company is well-positioned with stores remodels in place to highlight food assortment and online channels performing well. 3) On Q4 sales: Home and apparel categories held up, while digital channels saw strong sales. Electronics continues to be a challenge due to the "irrational behavior" of rivals. 4) Mobile purchases make up 7% of digital sales with participation in Apple's Passbook app contributing to the surge. (webcast[View news story]
    "2) Execs say they have a 'tempered' view on near-term consumer spending with the U.S. growing 'painfully slow,'"

    ...while Reuters reports that, "a source close to a...OK...so we make this stuff up", said "U.S. growth is...who are we kidding...you need a statistician to measure minus .001% and plus .001%."

    The New, new-normal until someone leads from the front.
    Feb 27 11:38 AM | Likes Like |Link to Comment
  • Target's test of embedding Best Buy's (BBY +0.3%) Geek Squad technicians inside of stores has expanded into Kansas City, according to the retailer. A broader Geek Squad rollout is hinted at, but not promised. [View news story]
    (now this copy must appeal to...sorry..."geeks"?)

    "Target's test of embedding Best Buy's (BBY +0.3%) Geek Squad technicians inside of stores has expanded into Kansas City, according to the retailer. A broader Geek Squad rollout is hinted at, but not promised."

    In the olden days, you "embedded" journalists (trying to get them on your side because all journalists are anti-Americans). It didn't work because the embedded "journalists" still were anti-Americans after their sojourn with the troops.

    So I predict the embedded Geeks won't turn the tide and...

    (Best Buy has problems)
    Feb 27 11:31 AM | Likes Like |Link to Comment
  • Bernanke Solidifies Gold Path To $2,000/Oz. [View article]
    I'm afraid it's worse than that Mr. Rabie. It will school a whole new discipline ("discipline?") at Columbia, Stanford, Yale, Harv...uh...sorry...it's too easy to bash these institutions.

    Professor Bernanke will give lectures at $200,000-a-pop.

    (To whom? Who would pay for...)


    And still we are in the thrall of the long-dead economist who said in the long run we are all...

    (Dead but not forgotten:)

    "In the long run, the continents separate."
    (Keynes in the early days)

    "In the long run, love still survives."
    (Keynes in his romantic phase)

    "In the long run, it's a long run."
    (Keynes after running his first marathon)

    "In the long run...pass me the brandy..."
    Keynes two weeks before he became the long-dead...)
    Feb 27 11:19 AM | 1 Like Like |Link to Comment
  • Which Way Wednesday: Sequestration Dead Ahead [View article]
    Mr. Guardian3981. You make a good point but it certainly will not be the "first time the government is reducing spending through the legislative process."

    I checked the Guiness Book of Records and when I punched the button that said: "Please check here if you've spotted anything,"

    it chunked me out...

    "There has never been a single recorded instance of a government, any government, reducing anything, anytime, for any reason...stop bothering us."
    Feb 27 10:58 AM | 1 Like Like |Link to Comment
  • Which Way Wednesday: Sequestration Dead Ahead [View article]
    "That was a fun dip, wasn't it?"

    Sure was. Now, "buy on the dip."

    "People sure are getting nervous ahead of the Sequestration which clearly..."

    Mr. Davis. Why is "sequestration" capitalized? I realize that if the U.S. government doesn't increase spending at an ever-increasing rate we are all doomed but "Sequestration?" You lefties missed a great opportunity for calling "sequestration", or, as us righties call it, "nothing", "Cliff II, The Damned." Can't you contact CNN? Nobody cares about this one.

    "It's fun to panic. We're designed to panic - we're not carnivores, we are omnivores who only developed sharp teeth pretty recently."

    It ain't fun to panic. That's why the VIX took off, but...Professor Bernanke gave us soothing words.

    "This is why it's so dangerous to take positions in stocks you don't actually believe in."

    True.

    Now stop flacking Apple. General Motors could use some good PR. While we are on to government-approved stocks, does it make any of you bulls take a second look at why Buffett, (and I'm told even his secretary) took a position in the normally defensive business of...ketchup?

    (Mr. Davis--we need you on our side. Still, you entertain)
    Feb 27 10:46 AM | 4 Likes Like |Link to Comment
  • Bernanke Solidifies Gold Path To $2,000/Oz. [View article]
    Mr. preciousguru makes a good point. "Professor Bernanke has no option or choice but to keep them intaglio presses oiled and running at a tune of 85 Billions. + per month..."

    Question of the day: Professor Bernanke. What will you recommend if unemployment never gets to 6.5%?
    Feb 27 10:30 AM | Likes Like |Link to Comment
  • Three Economic Factors to Be Thankful For [View article]
    " There is no doubt that China wants to minimize the use of fossil fuels."

    "There is no doubt that Chairman Mao loves to ride his bicycle in the morning."

    Dr. Leeb. Doesn't at least a little doubt creep into your head that this whole Global Warming religion stinks a little after two years?
    Feb 27 10:22 AM | Likes Like |Link to Comment
  • More on MBA Mortgage Applications: The Refinance Index falls to 4105, the lowest level since last spring (it's been declining since the Fed's Sept. QE announcement). The Purchase Index fell 5% on the week, but is 14% higher than a year ago. [View news story]
    This refinance thing wears thin. Does it pay to refinance from 4.75 to 4.73?

    Professor Bernanke has does his part. Now it's up to the animal spirits.
    Feb 27 09:57 AM | Likes Like |Link to Comment
  • Christopher Bogdan, the Pentagon's program chief for the F-35, slams Lockheed Martin (LMT) and Pratt & Whitney (UTX) for trying to "squeeze every nickel" out of the government. Bogdan wants the companies to "take on some of the risk...invest in cost reductions...do the things that will build a better relationship," he says. "I'm not getting all that love yet." You might remember that in the summer, Bogdan described the government's relationship with LMT as the worst he'd ever seen. [View news story]
    Put your boot on the neck of BP...

    ...put your boot on the neck of Lockeed, Martin, (whatever) (within a year it will be "Lockheed, Martin, Pratt, Whitney and Emmanuel."

    F-35's are not needed by Citizens of the World.

    As for us Americans, I'm thinking about it...
    Feb 27 09:48 AM | Likes Like |Link to Comment
  • Tesla Motors (TSLA) CEO Elon Musk tells Bloomberg TV (video) that the automaker will start shipping in mass to Europe in the June and July time frame. Norway will be a target market initially, but a strong presence in Germany is the long-term plan. [View news story]
    "Norway will be a target market initially..."

    Who is the marketing guy at Tesla? Al Gore?

    Norway is cold and batteries freeze there.

    Roll out your target in Monaco.
    Feb 27 09:43 AM | Likes Like |Link to Comment
  • Sharpen your pencils Tesla Motors (TSLA) traders: In his interview with Bloomberg TV (previous) Elon Musk gives some off-the-cuff sales guidance, saying he sees an environment where the EV firm sells 10K-12K units per year in Europe and Asia on top of 10K-15K units in North America. (video[View news story]
    Does Mrs. Obama have an opinion on this matter?

    It would help a lot if the cars were "cute."

    Does Bloomberg like them?

    Only insiders can trade this one.
    Feb 27 09:36 AM | Likes Like |Link to Comment
  • How the Fed Could Fix The Economy -- And Why It Hasn't [View article]
    I apologize Mr. Liu.

    "As opposed to getting bullied and hassled in SF and the Peninsula..."

    (?)

    I'm a Norseman...but I love to hear stories about far-away places.

    "Usonian." You've educated me. I always prefer speaking and writing "American," but those damn English keep at our heels.

    (Check out "Youtube." Frank Lloyd Wright was a guest on "What's My Line.")

    "It's too bad on those Americans stuck-up attitudes, there is a lot to learn."

    Did you ever venture beyond "SF?"

    "(I avoided going to Sg last year even though I had always wanted to go there since 1988. I figured that I would be fined into bankruptcy."

    (?)

    Speaking of which, has anyone seen Bo Xi Lai lately?

    "The USA has to adjust to the changing flat world!"

    Uh...OK.
    Feb 27 09:27 AM | Likes Like |Link to Comment
  • Bernanke Solidifies Gold Path To $2,000/Oz. [View article]
    This from Mr. Fubar:

    " It was done not to benefit the US economy, but to ensure there was no parity with the Euro, because a 1:1 match would make the Euro a non currency because people would quickly switch to the dollar as many Latin American countries have."

    Professor Bernanke is not that clever.

    Mr. Fubar is right about this: There is a global effort to keep "...the Euro relevant."

    But I don't think Professor Bernanke has that on his mind right now--he's thinking: "...yikes, what do I do now?"
    Feb 27 09:10 AM | 1 Like Like |Link to Comment
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