Comments on: Afternoon Readings

By: tmcinerney

tmcinerney — Tue, 22 Sep 2009 19:21:13 +0000

http://bankruptcybill.us/2009/09/19/bapcpa-man-9-bapcpa-man-vs-mortgantua-part-2/

By: tmcinerney

tmcinerney — Tue, 22 Sep 2009 19:20:54 +0000

B arry/all,

On the lighter side, this website and particular page should bring a sardonic smile……

By: MRegan

MRegan — Tue, 22 Sep 2009 04:01:08 +0000

You’re welcome. His comments on USD as reserve and his skepticism WRT SDRs were compelling. I would also recommend some of the videos posted by W. Pollock.

By: emmanuel117

emmanuel117 — Tue, 22 Sep 2009 03:28:10 +0000

@MRegan:

Pettis is insightful as always. Thanks for the link.

By: constantnormal

constantnormal — Tue, 22 Sep 2009 02:25:06 +0000

Another couple of interesting posts regarding Steve Keen’s economic theories are over at nakedcapitalism.com:

http://www.nakedcapitalism.com/2009/09/guest-post-if-credit-is-not-created-out-of-excess-reserves-what-are-the-results.html

http://www.nakedcapitalism.com/2009/09/steve-keen-we-need-a-debt-jubilee.html

By: constantnormal

constantnormal — Tue, 22 Sep 2009 02:22:26 +0000

David Fry’s EFT Digest has some interesting stats about the S&P exceeding its 200 dma by 20% and a short list of the times that this has occurred in the past. Also makes reference to a piece in zero hedge regarding the bullish mania.

http://www.etfdigest.com/davesDaily.php

http://www.zerohedge.com/article/stock-market-mania-continues-unabated

I can see the rally continuing, to at least a 40% excess over the 200 dma, based on the unprecedented amount of liquidity that has been pumped into the system.

This won’t help the economy, but then the stock market is not the economy — it can float ahead on wishes and moonbeams so long as there is a flood of liquidity. And that seems unlikely to end, regardless of the claims of impending “unwinding”, or empty threats to remove the punch bowl. I suspect that the thing that will end the excess liquidity will be when the USD implodes.

By: beaufou

beaufou — Tue, 22 Sep 2009 01:04:30 +0000

“The Fed normally anticipates the recovery by raising rates, taking away the punch bowl just as the party gets interesting,” said Peter Morici, professor of economics at the University of Maryland. “But this is not a normal recovery. It’s tepid and weak.”

Unemployment is still rising, retail sales are far from robust, manufacturers’ capacity utilization remains at ultra-low levels and wages are still depressed. Home sales and new home construction are making a comeback, but they’re coming off of historic lows.”

It’s a jobless recovery, We print , you sink.
But I’m sure things are hunky dory in Seattle :)

By: BearishNews

BearishNews — Tue, 22 Sep 2009 00:59:23 +0000

@karen and @mark e hoffer – Thanks!
@BR – thanks for the link, you can send some serious traffic. No wonder the sites you link to get exploded. One of the better tests my (shared) server has had, and looks like it held up OK.

By: MRegan

MRegan — Tue, 22 Sep 2009 00:28:27 +0000

On the blogspot called Inflection Points, the blogger (Warren Pollock) put links to FT’s video interview of Michael Pettis- an economist working at Beijing University. Very interesting and worthwhile (IMHO).

http://inpoints.blogspot.com/

By: CTB

CTB — Tue, 22 Sep 2009 00:06:45 +0000

Re: 30 minutes a day
I can definitely attest to the Pimsleur method, having used some of their products in the past. It’s a shame that the US educational system isn’t using science like this to better itself. Imagine lectures/lesson plans that actually reinforce long-term acquisition!