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WMARKW

WMARKW
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  • The contraction in European economic activity in a picture - U.S. exports to Europe dove $4B in April, the biggest drop dating back to at least January 2005, notes Stone McCarthy. Exports to the continent are down 2.7% Y/Y, the first annual decline since February 2010, and not boding well for the U.S. economy.  [View news story]
    Are you beginning to consider that ERCI and Hussman may be right in calling the recession, just no evidence of starting time yet?
    Jun 21, 2012. 11:28 AM | 1 Like Like |Link to Comment
  • Is Joe Sixpack's Economy Deep Into A Recession? [View article]
    Because things are not better.
    Jun 20, 2012. 11:16 PM | 1 Like Like |Link to Comment
  • Plunge In Family Net Worth Supports Gold Diversification [View article]
    I'm curious why you would say, or how you would justify that "gold bugs" (undefined) have linear thinking - which I assume you use as a pejorative term.
    Jun 20, 2012. 11:11 PM | 1 Like Like |Link to Comment
  • Wild Wednesday: $500 Billion Or Bust [View article]
    What would the author's suggestion be for handling student loans?

    How about a 2x or 3x tax deduction for any interest paid on student loans? How about a credit for any SS and Medicare taxes paid by employee or employer up to $5000 a year - applied directly to outstanding Student Loans - (but only for degrees in Math, Science, Engineering) not for Political Science or Basket Weaving. How about a credit for any student enrolling in any branch of the Armed Forces - $5,000 for each year of service? That's a couple off the top of my head.

    Perhaps we could actually try to influcence some kind of beneficial behavior with our Tax Policy on this matter?
    Jun 20, 2012. 06:46 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Easily....but we can't find her to recruit her for the job.....lone wolf don't you know.
    Jun 20, 2012. 06:34 PM | 2 Likes Like |Link to Comment
  • Fed Open Market Committee: Operation Twist is extended through the end of the year adding $267B to the total purchased. The Fed is prepared to take additional steps as necessary. Richmond Fed President Lacker dissents, opposing the extension of the Twist.  [View news story]
    Bernanke told the "government" last August in Jackson Hole that it was time for fiscal stimulus.
    Jun 20, 2012. 05:20 PM | Likes Like |Link to Comment
  • Fed Open Market Committee: Operation Twist is extended through the end of the year adding $267B to the total purchased. The Fed is prepared to take additional steps as necessary. Richmond Fed President Lacker dissents, opposing the extension of the Twist.  [View news story]
    Didn't / Won't the Fed recognize a capital loss on the ST Treasuries they sell? And won't they have to pay a premium over face value on the LT Treasuries they buy? Won't this reduce the Fed's income and consequently the US Treasury's income by an amount = the benefit of the lower LT interest rates?
    Jun 20, 2012. 04:46 PM | Likes Like |Link to Comment
  • The Fed "isn't going to be buying European sovereign debt," Bernanke says before wrapping up his news conference. Those looking for hints of a bigger QE3 were thwarted, as usual, but the questions now are coalescing around a single one: If the Fed "can do more" if necessary - why isn't it doing it now? (Earlier: Fed statement; projections)  [View news story]
    Why borrow from the Chinese. The Fed can borrow from the US at much lower rates. Oops.....wait a minute....didn't they say they weren't going to do that....Oh well there is always the back door.
    Jun 20, 2012. 04:41 PM | 1 Like Like |Link to Comment
  • Fed Open Market Committee: Operation Twist is extended through the end of the year adding $267B to the total purchased. The Fed is prepared to take additional steps as necessary. Richmond Fed President Lacker dissents, opposing the extension of the Twist.  [View news story]
    So when you sell Short Term treasuries and buy Longer Term treasuries - who benefits? The supply of ST treasuries increases, prices go down, and (interest rates go up). The purchase of LT treasuries raises the price (who benefits?) and lowers the interest rates.

    Why does it feel like the front-running bond vigilantes benefit?
    Jun 20, 2012. 04:38 PM | Likes Like |Link to Comment
  • Fed Open Market Committee: Operation Twist is extended through the end of the year adding $267B to the total purchased. The Fed is prepared to take additional steps as necessary. Richmond Fed President Lacker dissents, opposing the extension of the Twist.  [View news story]
    Wow....gold got hammered a MASSIVE....let's see, let me get my magnifying glass out....oh....2/3 of ONE percent today. A rounding error in the scheme of things.
    Jun 20, 2012. 04:35 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    As you requested:

    She (Sandiego) landed at Cannes in the Gulfstream G-5
    A short trip; sleep; she felt good to be alive.
    Provence was beautiful this time of year,
    But the sights and the food were not why she was here.

    Carmen, that was her real name, but few really knew,
    She’d been forced into aliases, given what she’d chosen to do
    With her life’s work since leaving ACME detective agency.
    Now she, yes SHE was the world’s best thief – you see.

    She belonged to – no she had created V.I.L.E.,
    The Villian’s International League of Evil – just a short while
    After leaving ACME…too many places to go and too many to see
    With the skills she had developed – it WAS what she was meant to be.

    Her target in Provence was new to the business.
    She didn’t know his plans – could only guess
    What his intentions were from his nefarious past,
    But with his most recent theft he’d made a big splash.

    They say he’d gotten millions from his investors. He’d caused pain
    At MF Global as it had gone near instantly down the drain.
    She suspected a couple hundred million or so
    Would be waiting for her, but she didn’t know… for sure.

    The prep work had all been done – down to the last detail.
    At his Villa, she knew every last hinge, bolt and nail.
    It would be easy as long as Corzine wasn’t there,
    But that was the problem no one knew just where
    In the world Jon Corzine was.

    That night she slipped into the window on the second floor.
    Alarms and security much easier than that at the door.
    The safe was good, electronics were as good as they get,
    But nothing had ever stopped Carmen yet.

    No sign of Corzine as she stealthily slipped out,
    Perhaps it was true that he was nowhere about.
    With millions in negotiable bearer bonds,
    It was time to make here escape back across the pond.

    She took the bullet train from Cannes to the North East,
    To her it was quite the engineering feat.
    She’d told the G-5 to meet her in the City of Lights,
    From there she would make her flight – late that night.

    At the private strip, she told Robin France (pilot) to head for home.
    Wheels up at 8:00 and then they were gone.
    Corzine would never know. He’d wonder like the rest
    Because Carmen had a reputation as the World’s Greatest….
    As a thief…..she was the best!
    Jun 20, 2012. 03:34 PM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Damn those "environmental" studies....they have sure slowed the economy down. We need to build 200 nuke power plants TODAY!!! Of course we are using Ethanol.....that's helping (...to starve the people in Mexico because the price of corn has skyrocketed). Oh well...unintended consequences.
    Jun 20, 2012. 12:46 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Good for Issa....let's get all the dirt out on all the dirty politicians. Let's get some convicted and sent to jail. From yesterday, we've hardly convicted a couple handfulls of people for treason in this country in 200 years.
    Jun 20, 2012. 11:58 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Hey, Community Organizer is good at organizing the community of insiders to accomplish the objective....not exactly sure they know what the objective was.
    Jun 20, 2012. 11:55 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Jack....you do understand that it's economically impossible to run a surplus on an ongoing basis, and that a surplus is actually "contractionary"......... right?
    Jun 20, 2012. 11:20 AM | Likes Like |Link to Comment
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