the market tanked today because it was expecting that tapering by the Fed would confirm that the economy was improving and the fact that they chose not to taper means we are still in terrible shape. I'm not sure if the AGNC's decline is a reflection of this. I suspect that it is getting pulled down by the entire market. However my TMV hedge is working. It cancelled out my AGNC losses almost exactly. At some point I have to decide which of the two I want to sell. TMV if AGNC starts to look better, or AGNC if it looks like long term interest rates continue to rise regardless of the Fed’s efforts.
I think it is starting to become evident even to Keynesian diehards that stimulus alone does not a good economy make. We also need leadership from the white house. And good intensions are not enough. We need someone who actually understands the economy and not charitable giving. You do the latter after you have a robust economy, not before. And if your mind set is fixed to think otherwise then you will just keep going in circles with the majority of your time spent thinking of excuses to make. But I suspect that Obama is so inundated with scandal damage control that he has no time for anything else. Sadly that leaves the rest of us holding the bag.
Who could have imagined that it would ever get this dismal for people wanting a decent job which was something that my generation had little difficultly doing.
So tell me. How much longer does it take before people have had enough because many of us are getting tired of waiting? It seems like this latest batch of Dems is a stubborn lot. Would they rather die than accept reality no matter how much it bites? It is what it is. You can't wish it to be something else just because you thought of it. It seems that most people think like children. They ask for what they want rather what they can have.
I think the big houses look for chances to dump and buy back lower in order to sell higher next round. Many will desert the market before the next FED speech. I just try to sell something at a gain and buy back each round. But I have been on the wrong side I'd the last two.
The government have the armed forces, citizens no match. Like the decline of the Roman Empire, the wealthy will soon leave, leaving the poor masses to fend for themselves within a bankrupt state. Anyone who has the nerve to expose the wrongs of this government (ie. Ed Snowden) is immediately labeled a traitor, a spy by the government and the media. All this in the name of national security when it is the same government who breaks its own constitutional laws by unlawful spying on their very own citizens. So how are we becoming any different from the Socialist regimes like Russia or China?
I don't even believe that Ed Snowden even knew what he was talking about. I think he was a low level guy who kind of suspected the way things were but really didn't know for sure. He probably committed treason for nothing. The reason I say this because some of his claims make no sense. It is as if it is what he suspected was the case rather than what he really knew was the case.
Besides, when you get to the clearance level to where the knowledge you have could be a major issue if it leaked out you are required to take periodic lie detector test and if he had any tendencies like he does along with actual knowledge he would not be able to pass the test. If you don't like taking test then you don't get access. I suspect that he did not have access and that he imagined that people were able to do certain things but didn't really know if they could for sure. It all goes along with the profile of the kind of guy who would throw their life away over something like this.
In any case, he has been enough of a pain that even if what he said was not true they will probably treat it like he thought it was true and acted accordingly and therefore wanted to commit treason. Like when you go into a bank to rob it but they don't have any money so you never get to take anything. That won't keep them from saying that you would have taken it if the money had actually been there.
Personally I do not think people's phone conversations are being listened to without authorization. The bar may have been lowered as to how hard it is to get that authorization since 9/11 but you need it none the less. My guess is that they now have judges available at a moments notice whose job it is to grant this access. And how would it impact me if they listen in on conversations between people when the call is going to a country known to harbor terrorist? Why would I care about this? I hope they do.