Seems like junior terrorism.
The Modern Nihilist feels alienated from Life.
It's a grand self indulence to just sit back and say "Prove it to me".
Banks are investors in debt, which by definition means they do not like inflation. Governments are the biggest inflation lovers as they are the biggest debt issuers. Central banks try to straddle between them.
chicky, on the right track there for sure, but a couple of small misconceptions. Greenspan was doing it from nearly the first day of his chairmanship after the October 1987 crash, a decade before LTCM. Also, the Fed didn't bailout LTCM, a consortium of affected banks did.
My favorite of all of it is how we don't even use the term 'moral hazard' anymore to describe Fed manipulation. We rejoice over it.
Turns out 'banky panky' really is the game to play, forever and ever. You can become rich beyond your wildest imagination, as long as you're courageous enough to live completely without ethics or morals.
That's the very problem with rationalism, because it does lead to precisely that conclusion.
Its good for some forms of thought, but not all.
Blames US government for a lack of economic stimulus, and says we're making a big mistake not moving forward into a lot of debt forgiveness to get things rolling again. He says we suffer from too much righteousness about repaying debts we owe, say history proves it doesn't work.
'religions pewforum org reports' says you atheists have a commanding 1.6% of the thoughtscape in America.
Volatility is up, congestion is building around the 50-day SMA. The seasonality is right.
Fed policy is moving away from absolute control. Fundamentals for global growth aren't strong.
Geopolitical risks are heating up, Commodity demand is slacking. Democrats are looking weaker for elections. America's foreign policy is making us an unwelcome ally internationally. Our college students are struggling to find middle class jobs. We're being overrun with low IQ immigrants. Our social entitlements are unfunded at a critical level, our corporate growth plan is international (and into weakness) not domestic, and we have a serious pandemic looming for which we have no vaccines.
Janet, if you can prestidigitate your way out of this, then we truly are the morons you take us for.
Of political markets which can't be revoked, revised or invented to preserve and enhance the wealth of the elite class, to compensate for or exploit any set of imaginable conditions.
Mayor Kennedy, it looks like its time to borrow some more money, and raise taxes. What's the problem ?
mavrik, take half an hour and read Blaise Pascal's wikipedia page. It would be time well spent in a good way.
When I see the blind and wretched state of men, when I survey the whole universe in its deadness, and man left to himself with no light, as though lost in this corner of the universe without knowing who put him there, what he has to do, or what will become of him when he dies, incapable of knowing anything, I am moved to terror, like a man transported in his sleep to some terrifying desert island, who wakes up quite lost, with no means of escape. Then I marvel that so wretched a state does not drive people to despair.
Interesting that the gold standard did not prevent the kind of global capital flows and asset bubbles we complain about with today's fiat currencies.
Not one of your best 'shock jock' efforts imo. All the subtlety of a brick through a window.
Would you say that Greece, which invented Democracy at a time when they were polytheistic, was a failure at government ? (You'd have to go a ways to demonstrate that Iran or Iraq were ever democracies).