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Dogpound
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  • As the EU periphery remains mired in a "slow motion train wreck," it's worthwhile to check in on the road not taken - default, devaluation, quick collapse, recovery. Iceland last week returned to the international bond markets, selling $1B in debt. GDP - which dove 7% in 2009 - is expected to rise 2.4% this year, cutting the unemployment rate to 6%.  [View news story]
    Shhhhhhh! You better stop that or you will be in trouble with all the banksters.
    May 9 04:36 PM | 1 Like Like |Link to Comment
  • The Chicago Fed's Charles Evans continues to carve out a spot on the FOMC as maybe its most dovish member, essentially advocating a nominal GDP-targeting strategy. Evans says "strong accommodation" shouldn't go away until the economy sustains 4% growth for awhile. Of 2% inflation, he says it's "not a ceiling." Evans is not a voter this year.  [View news story]
    How is the USA going to do 4% growth over a sustained period...you can't do 2.5% with unprecedented monetary stimulus.

    This guy is a member of the FOMC, all I can say is wow.

    The only reason you ever did 4 to 5% in previous years was bubbles, be they internet or housing.

    I guess what he is really saying is the USA needs another bubble before you let off on the gas again.
    May 1 03:45 PM | Likes Like |Link to Comment
  • A wave of ratings downgrades to hit developed countries in coming years will spare Canada, says Citi's Mike Saunders. The 2012 federal and provincial budgets - while maybe putting a drag on near-term growth - should strengthen the country's already sound fiscal position.  [View news story]
    Until our government is downgraded from our coming housing collapse.

    At least our banks will be in good shape! Thanks to CMHC the first 25% loss on housing will be the taxpayers.
    Apr 19 03:34 PM | 2 Likes Like |Link to Comment
  • Martin Wolf argues against the notion that the eurozone will fail: “The big idea that brings members together is that of their place within Europe and the world... If this were a mere marriage of convenience, a messy divorce would seem probable. But it is far more than such a marriage, even if it will remain far less than a federal union. Outsiders should not underestimate the strength of the will behind it."  [View news story]
    It will come down to "do the people believe it" not the will of politicians.
    Apr 18 11:18 AM | 1 Like Like |Link to Comment
  • The U.S. and U.K. have agreed to release emergency oil stocks, reports Reuters. Brent Crude (BNO) -2%, WTI Crude (USO) -1.1%.  [View news story]
    The USA embarrasses itself again.

    What Emergency, Americans are now paying $2.00 per gallon less than people in other countries?
    Mar 15 11:53 AM | 1 Like Like |Link to Comment
  • Treasury scrambled to convince S&P away from downgrading the U.S. in the days and hours leading up to the Aug. 5 move, according to newly obtained emails. As it became evident S&P was going to move ahead, Treasury desperately floated a story the ratings agency had muffed a simple calculation, but it was to no avail.  [View news story]
    What a bunch of creeps
    Feb 22 10:44 AM | 5 Likes Like |Link to Comment
  • Canadian Housing Market Collapse: Part II [View article]
    Rodney, your article is very good but I take exception to the socialist comment. Our backstopping of the banks was through CMHC and yes the taxpayers will be on the hook in the end - how in your "Democratic" society are the taxpayers not paying for your housing and banking crisis? I guess socialism is above board, democracy only works til it cost the banks money and they are not allowed to fail, then taxpayer is responsible - can you explain how this is any different?
    Feb 15 10:45 AM | Likes Like |Link to Comment
  • TEPCO (TKECF.PK -11.3%) says the damage to the #1 Fukushima reactor core is worse than previously described. The fuel rods are fully exposed, raising the question of where the 11M liters of water pumped in has gone. They “have consistently appeared to be underestimating the severity of the situation," says an American physicist.  [View news story]
    Ocean??? Raising a question for who - imbeciles? The plant sits at 2 feet above sea level.
    May 12 12:31 PM | 1 Like Like |Link to Comment
  • The possible next PM of Canada, Jack Layton ventures into monetary policy, telling Reuters the BoC should hold off hiking rates due to sluggish employment and a strong currency. The loonie is unperturbed, erasing early losses and continuing to threaten multi-decade highs. FXC +0.3%.  [View news story]
    If Layton wins, please invade us.
    Apr 29 01:11 PM | 2 Likes Like |Link to Comment
  • One down day for stocks, and the word is already out that the Fed might continue with QE Lite. Recent remarks by Yellen and Dudley that the economy and inflation are too weak to begin a reversal of monetary policy are interpreted as a signal that the Fed will keep its balance sheet at current levels by replacing ~$17B/month in maturing mortgage debt with Treasurys.  [View news story]
    Pathetic...if you guys consider your current economic conditions as a crisis that requires unprecedented monetary stimulus I shutter to think what your Fed will do if things really do get bad.

    You guys should take back your country and swallow the bitter pill for the benefit of your future generations.

    Instant gratification, no willingness to make tough decisions, the current legacy of the USA.
    Apr 19 09:03 AM | 10 Likes Like |Link to Comment
  • A preview of President Obama's speech on deficit reduction: Congressional sources say the President will set a goal to reduce the budget deficit to 2.5% of GDP by 2015 and 2% near the end of the decade, saving $4T over the next 12 years or less. Speech is at 1:35 ET. Watch here live.  [View news story]
    Doesn't it already seem like a myth? Man kind used to be amazing, now we are just pathetic.
    Apr 13 01:04 PM | 3 Likes Like |Link to Comment
  • A preview of President Obama's speech on deficit reduction: Congressional sources say the President will set a goal to reduce the budget deficit to 2.5% of GDP by 2015 and 2% near the end of the decade, saving $4T over the next 12 years or less. Speech is at 1:35 ET. Watch here live.  [View news story]
    It will be our mission, by the end of the decade, to almost put a man on the moon.
    Apr 13 12:48 PM | 4 Likes Like |Link to Comment
  • A preview of President Obama's speech on deficit reduction: Congressional sources say the President will set a goal to reduce the budget deficit to 2.5% of GDP by 2015 and 2% near the end of the decade, saving $4T over the next 12 years or less. Speech is at 1:35 ET. Watch here live.  [View news story]
    Such a lofty goal...by 2020 still spending more than you take in. Saving 4 Trillion!!!!! Spin is a wonderful thing.

    When did praise of mediocrity and failure become common place and acceptable.
    Apr 13 12:40 PM | 5 Likes Like |Link to Comment
  • It's Going to Happen Again Unless Bernanke Is Brought to Heel [View article]
    The Federal Reserve System was conceived by bankers for bankers in the early 1900's. They couldn't name it "Central Bank" as in Europe. The government was trying to protect the people from the "money trust".

    Lets name it "Federal" to give it the illusion of being a legitimate institution. Lets also put "Reserve" after Federal so people think we actually have reserves. The Fed has a check book but has no bank account with money in it.

    Inflation is the only tax that governments can impose on their citizenry without inciting riots. Inflation allows governments to borrow at a whim to satisfy pet projects and delay tough decisions.

    The Federal Reserve is allowed to create money out of nothing and charge interest on that nothing, pretty good gig if you can get it. In order to keep up with the charade you need a partner, that is your federal government.

    It worked very well for the first 60 to 75 years. Investors are much more informed nowadays, thanks to mass media and dissemination of information it is harder for the fed to stay ahead of all the sheeple.

    Perhaps the fed actions are no longer working because investors understand more clearly exactly what is going on. Investors are trying their best to preserve wealth and buying power because they know the Fed is no longer trying to "stimulate" the economy but is actively destroying your dollar to give the illusion of wealth creation.
    Apr 5 11:09 AM | 10 Likes Like |Link to Comment
  • Whirlpool (WHR +2%) fights back against an influx of refrigerators from South Korea and Mexico by filing an antidumping suit against Samsung and LG. Whirlpool wants a probe into bottom-mount fridges being sold at less than fair value in the U.S., and into South Korea's subsidies.  [View news story]
    Learn how capitalism works whirlpool, pack up and leave. Increase profits by lowering costs through producing your goods in China. Don't whine for the government to impose tariffs that block free trade, sounds very communist in nature.
    Mar 30 11:10 AM | 2 Likes Like |Link to Comment
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