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WMARKW

WMARKW
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  • Wall Street Breakfast: Must-Know News [View article]
    James...it's clear that the accountants and politicians in DC were products of the Department of (non) Education programs in public school systems.
    Jan 13, 2012. 06:23 PM | Likes Like |Link to Comment
  • Titled "Death of a Theory," a research paper from St. Louis Fed chief Bullard says decades of conventional wisdom are wrong, and that fiscal authorities should leave it to the Fed to stabilize the economy when tough times hit. "The monetary authority ... can operate effectively even at the zero lower bound," i.e. QE, if 0% rates don't do the trick. (pdf)  [View news story]
    Wyostocks....you mean Nightmare on "K" Street.
    Jan 13, 2012. 04:34 PM | 2 Likes Like |Link to Comment
  • Debt Chaos, Financial Repression And Gold [View article]
    Plan B....that's the point. Example Japan. How do you force "savers" to spend money on stuff? You don't (I guess unless you can inspire some inflation). Japan's society is a society of savers. The Japanese government can't spend more money than the savers will turn around and scoop up and save as debt.

    I suspect most holders of Treasuries are "savers" and if you printed money to pay them off they would just go find another way to save it. Of course some competition for assets would create some inflation in asset classes (yielding capital gains tax to offset capital losses on Treasuries). What are the Chinese going to do with their ~$3 Trillion? They will look for other investment vehicles - perhaps many dollar denominated.
    Jan 13, 2012. 04:30 PM | Likes Like |Link to Comment
  • Titled "Death of a Theory," a research paper from St. Louis Fed chief Bullard says decades of conventional wisdom are wrong, and that fiscal authorities should leave it to the Fed to stabilize the economy when tough times hit. "The monetary authority ... can operate effectively even at the zero lower bound," i.e. QE, if 0% rates don't do the trick. (pdf)  [View news story]
    "I describe and critique two theories of how …scal policy might be viewed as effective in such circumstances. One, heavily studied, is that a tax-fi…nanced increase in government expenditures would temporarily increase total output in the economy. The other, lightly studied but rhetorically forceful, is that increased government expenditures may inspire con…dence. Both theories have drawbacks, but I argue the …first is dying because of three considerations:
    (1) actual political systems are ill-suited to implement the advice from the theory;
    (2) monetary stabilization policy has been quite effective, making …fiscal experiments redundant;" Bullard.

    Good Lord....what a moron. Are you kidding me. Consideration # 2. Will you kindly tell us Mr. Bullard....if monetary policy has proven to be so effective why you haven't done anything in the last 3 years that has helped the economy?

    Next, kindly tell us, Mr. Bullard, why Bernanke in Jackson Hole admitted to in-effective monetary tools and squarely told the administration to get the fiscal stimulus going?
    Jan 13, 2012. 04:21 PM | 1 Like Like |Link to Comment
  • Gold And Silver Is Risky For The Long Term [View article]
    Your welcome. March....I thought it was very good too.
    Jan 13, 2012. 02:12 PM | 1 Like Like |Link to Comment
  • The Fed's Undistinguished Macro Discussions [View article]
    Venturen....isn't that B, B, and T's plan.....trillions for the banksters.
    Jan 13, 2012. 02:11 PM | 1 Like Like |Link to Comment
  • Debt Chaos, Financial Repression And Gold [View article]
    Because if you give every US citizen $1 million they will spend in stuff and that WILL be inflationary. If you give the SS Trust fund $2.5 Trillion that they own in US Treasuries, they won't go out and buy stuff, they will look for alternative investments in equities, MBS, corporate bonds, municipal bonds, etc. That won't cause inflation in the prices of stuff. It may cause inflation in things like equities, MBS, etc. but it will cause "deflation" in Treasuries.
    Jan 13, 2012. 02:05 PM | Likes Like |Link to Comment
  • The Burden We Leave Our Grandchildren [View article]
    Green River....thanks for the reminder.
    Jan 13, 2012. 09:19 AM | Likes Like |Link to Comment
  • Debt Chaos, Financial Repression And Gold [View article]
    Well said Larry.....

    The author's 4 points come under the caption of "How to stop the debt spiral". Perhaps the first question should be: Do we need to stop it? Another question would be: What will happen if we stop it?

    I was reading some of Fulweiller a few minutes ago, and he was talking about some of the laws governing the relationship between government spending and the requirement to have cash balances, etc. My first thought was simply this: If we can create a law to govern such things, we can "uncreate" the law just as easily.

    So once again, everyone, we have a printing press and we really don't need to ask anyone to pull the trigger.
    Jan 13, 2012. 09:17 AM | 1 Like Like |Link to Comment
  • The Fed's Undistinguished Macro Discussions [View article]
    In the first place, why would you think that the Fed actually wanted to stop a recession? And what suggests that they have the tools to do so anyway? They haven't been able to reverse a recession, so why do we think they can stop one. They can't tell you when a recession will end, because they can't stop it. Thus why do we think they can tell you when a recession will begin?
    Jan 13, 2012. 08:42 AM | Likes Like |Link to Comment
  • Debt Chaos, Financial Repression And Gold [View article]
    The other alternative to pay off the debt is for the US government to go downstairs to the printing press and print off 15 @ $1 Trillion dollar notes and pay back those investors who hold US treasuries. It is that simple. And don't tell me it will cause inflation unless you can tell me who will get the money and what they will do with it.
    Jan 13, 2012. 08:27 AM | 1 Like Like |Link to Comment
  • Record Breaking Sales Of Bullion Coins Continues [View article]

    For an interesting look in more detail at the above numbers, adding Canadian Mint and US silver mining supply, all of which point to the fact that US Mint can't produce the supply of Silver Eagles using domestic silver supply, see:

    http://bit.ly/yfQ86b
    Jan 13, 2012. 08:21 AM | Likes Like |Link to Comment
  • Silver Launches Higher Into 2012 [View article]
    I love silver, physical that is.

    But....there is no such thing going on as economic growth in the US. Is GDP growing....yea, but at 1%. That doesn't translate to jobs or income growth. How's a 1% raise work for your income if CPI (which is bogus) is running more than 2%?
    Jan 13, 2012. 05:42 AM | 3 Likes Like |Link to Comment
  • Lessons Learned From Gold In 2011 [View article]
    The biggest lesson everyone should have learned in 2011 came from MF Global. You are not safe letting anyone hold your money or your gold. If you don't think the crooks and banksters will steal it, you are wrong. It just depends on who they are whether they will get away with it or not. Martha Stewart vs. Jon Corzine. Who is the bigger crook?

    ETFs - Nope
    COMEX - Nope
    Physical - Yep.

    Buying physical will be the single biggest thing people can do to end the fradulent paper market.
    Jan 13, 2012. 05:32 AM | 1 Like Like |Link to Comment
  • The European Banking Authority won't conduct another set of stress tests until H2 at the earliest. The EBA had previously started testing in the spring and announced results in July, but with a June deadline for banks to raise core Tier 1 ratio to 9%, officials say "it would make no sense" to run tests during capital raising.  [View news story]
    It makes no sense to run stress tests when you have no clue what assets are worth.....just saying.
    Jan 13, 2012. 05:26 AM | Likes Like |Link to Comment
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