So I told him, “I like it fine, except I wanted lobster! Rich, flakey lobster to dip into real melted butter so wickedly delicious that you can actually hear your arteries hardening from just looking at it; but I can’t order lobster because inflation in prices…
August 18th, 2009 | Mogambo Guru | 4 comments | ContinuedAll Posts Tagged With: "federal reserve"
Discussing the Dreaded Fibonacci Retracement
So let’s do that! And actually, it’s not inherently dreadful. Our Swarm trading technician Gabriel Andre uses the Fibonacci numbers to track trends in commodities, currencies, and stocks.
In fact, he’s been muttering to himself in French the last week that September may be a very good month for short sellers.
August 13th, 2009 | Dan Denning | 23 comments | Continued
Central Bank Creates Excessive Amounts of Money to Expand Government Spending
But this is not about any of that, but about the way that the government has now “changed the way it accounts for natural disasters, such as Hurricane Katrina,” which ought to make you suspicious, especially as it was done for “eliminating much of the prior volatility in income calculations”, whatever in the hell that means.
August 11th, 2009 | Mogambo Guru | 0 comments | Continued
Is it Possible China’s Steel Industry Has Excess Productive Capacity?
“China’s steel output has taken up 48% of the world’s total in the H1 of this year, further exacerbates the oversupply picture and hurts the healthy industrial development. And Mr Roland Verstappen vice president of ArcelorMittal also said steel overcapacity is quite clear in China and which will press down steel prices, sweep smaller mills out of the market and causes unemployment.”
August 6th, 2009 | Dan Denning | 8 comments | Continued
Nixon and Exchanging Dollars for Gold
Then Nixon said, “No more exchanging stupid paper dollars for real gold!” The reason Nixon was forced to act like a lying, thieving little creep is partly because he WAS a lying, thieving little creep, but mostly because he mirrored America perfectly since Congress allowed it…
August 4th, 2009 | Mogambo Guru | 5 comments | Continued
Does Bernanke Really Not Understand His Fate?
Mr. Bernanke defended himself and the Fed against suggestions that he was too eager to aid large financial institutions last fall and winter, while sacrificing the interests of small businesses and everyday American citizens.
July 31st, 2009 | Byron King | 13 comments | Continued
Modern Economic Theory
The Economist magazine, also predictably and inevitably, does not comment on this Gem Of Mogambo Economic Wisdom (GOMEW), which is to buy gold, silver and oil on the advice of the last 4,500 continuous years of the world’s economic history…
July 28th, 2009 | Mogambo Guru | 3 comments | Continued
Federal Reserve Predicted that U.S. Unemployment Rate Would Surpass 10%
That’s no big surprise. The true U.S. unemployment rate as at least 15% already when you factor in the long-term unemployed who are not carried on the “official” books.
Then the Fed made a shocking prediction.
July 24th, 2009 | Byron King | 0 comments | Continued
Fed’s Projections Show U.S. Economy Will Grow Quickly in 2010
The only negative note in the Fed’s forecast is that it reckons U.S. unemployment will keep growing to over 10%. That, presumably, is a drag on the economy. But if credit conditions improve, maybe all the people who’ve lost jobs because the U.S. economy is not producing and not competitive can, you know, get a credit card and live off of that
July 17th, 2009 | Dan Denning | 4 comments | Continued
Herbert Hoover Watched the Depression Unfold
Now that we’re living through the bust, on the other hand, many people are listening. That’s why it’s so important for economists of the Austrian School to redouble their efforts, whether in terms of writing, public speaking, media,…
July 15th, 2009 | Thomas E. Woods, Jr. | 0 comments | Continued
People Flee Back to the U.S. Dollar
But what you can’t count on is how much that cash will really be worth. And there lies the great trap for the lumpen investoriat. The lumpen, as you know, get their investment ideas from TV and the newspapers. The poor rubes are the last to buy in a boom and the last to sell in a bust.
July 6th, 2009 | Bill Bonner | 1 comment | Continued
There is More to Wealth than Money
Taleb’s point is not a popular one. But it is a realistic one. The fiat money, leveraged finance Western financial system went global in the last twenty years, providing an epic rise in asset prices (and the debt used to purchase them). There’s no doubt that real goods and services have traded hands with world growth.
July 3rd, 2009 | Dan Denning | 9 comments | Continued
In 1930…as in 2009…the Average Fellow Thought the Crisis had Passed
“I see the publishers association has chosen a ’20s theme,” began the emcee. “What is wrong with you people? Don’t you know what came after the ’20s? The ’30s!”
It doesn’t seem like the ’30s…yet. Ask the man on the street and he will tell you what he’s heard on TV: the worst of the crisis is over.
New Trend in the Market: Sell Bonds and Buy Commodities
Gross finishes with this advice: “Bond investors should, therefore, confine maturities to the front end of yield curves, where continuing low yields and downside price protection is more probable. Holders of dollars should diversify their own baskets before central banks and sovereign wealth funds ultimately do the same.
June 9th, 2009 | Dan Denning | 10 comments | Continued
Paying More Than 3 Times as Much for Gold
The price of oil remains at $62…the American peso is still trading for peanuts ($1.39 against the euro)…and gold lost about $5 yesterday; it trades this morning near $953.
Do you have your positions in gold, dear reader? We hope so.
May 28th, 2009 | Bill Bonner | 12 comments | Continued
