tag:blogger.com,1999:blog-4921988708619968880.post2537122096855160953..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: March 13 2009: It's a death trap, it's a suicide rapIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger79125tag:blogger.com,1999:blog-4921988708619968880.post-70812575126081630782009-03-15T01:18:00.000-04:002009-03-15T01:18:00.000-04:00Here is a two hour video segment with Michael Panz...Here is a two hour video segment with Michael Panzner's new book When giants fall. (Host of two websites, financial armageddon and economic roadmap) <BR/><BR/>http://www.booktv.org/watch.aspx?ProgramId=PC-10223<BR/><BR/>He's also done a radio interview over at goldseek, <BR/><BR/>http://radio.goldseek.com/shows/2009/03.14.2009/GSR-03.14.09-c.mp3<BR/><BR/>As for Roubini being in equities, the man Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-54341583789587831752009-03-14T19:26:00.000-04:002009-03-14T19:26:00.000-04:00Thanks for the KD info Jal and StoneleighQuestion:...Thanks for the KD info Jal and Stoneleigh<BR/><BR/>Question: A bank run would need to be what % of depositors before it causes the bank to fail? If you can borrow against lent $ to cover the 10% Fractional Reserve, is it tougher to do so at 20%?<BR/><BR/>And thank you Stoneleigh, for sharing your thoughts and knowledge. I learn something from you with every read.<BR/><BR/>@centiare<BR/><I>"Persephonehttps://www.blogger.com/profile/16990525279110502147noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-8099833565747161762009-03-14T18:51:00.000-04:002009-03-14T18:51:00.000-04:00re: "Empty Shelves"I'm in the metro Chicago area. ...re: "Empty Shelves"<BR/><BR/>I'm in the metro Chicago area. While I haven't (yet) seen shelves with less on them or fewer varieties, I have noticed more items that are still on the shelves past their sell by date. Milk and yogurt that are days (or even weeks) past their sell by date. Today I found a cheese packet that should have been pulled over two months ago. I never used to see this. Either Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6411360743799241142009-03-14T18:36:00.000-04:002009-03-14T18:36:00.000-04:00I found a VERY sad commentary on our society today...I found a VERY sad commentary on our society today - <BR/>The backstory:<BR/>A friend gave me hand soap for Christmas. It has microbeads. (I have since found out that "microbeads" are small bits of plastic mixed with soap to create an exfoliating effect). <BR/>Anyway, these damn microbeads clogged my sink. So, I do what any independent goddess does and went on the journey to purchase a plunger.<Persephonehttps://www.blogger.com/profile/16990525279110502147noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-903248777074358022009-03-14T18:27:00.000-04:002009-03-14T18:27:00.000-04:00"Empty Shelves" deconstructed.As I have observed t..."Empty Shelves" deconstructed.<BR/><BR/>As I have observed the phenomenon here in the heartland it goes something like this:<BR/><BR/>1. Less variety on the shelves.<BR/><BR/>2. Fewer items on the shelves<BR/><BR/>3. Fewer shelves (i.e., rather than have empty shelves, they simply re-do the store to have fewer shelves, more space, or they cut off whole sections of the stores<BR/><BR/>4. Fewer Submit your advicehttps://www.blogger.com/profile/01867890217907128363noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-23459096053570072862009-03-14T18:08:00.000-04:002009-03-14T18:08:00.000-04:00breaking news! So far only the Washinton Post has...breaking news! So far only the Washinton Post has covered this: AIG is paying 10s of millions of dollars in bonuses.. still..<BR/><BR/>http://www.washingtonpost.com/wp-dyn/content/article/2009/03/14/AR2009031401394.html?hpid=topnews<BR/><BR/>the comments on the WP are all- torches and pitchforks. This is gonna knock something loose, I think.Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-84445378575564123812009-03-14T17:52:00.000-04:002009-03-14T17:52:00.000-04:00ca said...Roubini has recommended that people stay...ca said...<BR/>Roubini has recommended that people stay in cash, but he has indicated that he remains invested in equities.<BR/><BR/>I guess he doesn't consider himself a people. Maybe a demigod.el gallinazohttps://www.blogger.com/profile/00642036843036726232noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-90985774148937590042009-03-14T17:41:00.000-04:002009-03-14T17:41:00.000-04:00Roubini has recommended that people stay in cash, ...Roubini has recommended that people stay in cash, but he has indicated that he remains invested in equities.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-85290924422371736412009-03-14T17:26:00.000-04:002009-03-14T17:26:00.000-04:00It's happy nerds day today - go figure:) @Buzzard ...It's happy nerds day today - go figure:)<BR/><BR/> @Buzzard fella,Here is <A HREF="http://www.marginalrevolution.com/" REL="nofollow">another link</A> with a snippet of that Roubini bit. Don't want to post a whole FT article, if Stoner figures it's particularly important I guess she will do whatever.<BR/><BR/>anyway keep happy with the <A HREF="http://www.youtube.com/watch?v=cbvBkYLMzHU" REL="Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72862827341654435862009-03-14T16:32:00.000-04:002009-03-14T16:32:00.000-04:00@el gallinazo (and others) - Here is a hint to rea...@el gallinazo (and others) - Here is a hint to read an entire article in Financial Times... <BR/><BR/>Try a Google search on the title of the article, and author.<BR/><BR/>Chances are that Google will return the link to read the entire article.bluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-14025730876523980642009-03-14T16:31:00.000-04:002009-03-14T16:31:00.000-04:00having launched "climate collapse" here with some ...having launched "climate collapse" here with some success, I'll try again on this one:<BR/><BR/>"Let the quantitative easing go on!" -<BR/><BR/>I suggest "quantitative cleansing", instead.<BR/><BR/>cross pollinating euphemisms is such fun.Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71473713827666720102009-03-14T16:24:00.000-04:002009-03-14T16:24:00.000-04:00@Anon 12:59Re Roubini's investments. I cannot acc...@Anon 12:59<BR/><BR/>Re Roubini's investments. I cannot access the FT site because I am not registered. I would have liked to read his actual words. Roubini is many things but he is not stupid. I very much doubt he is invested long in equity funds unless he is doing a temp in anticipation of the suckers rally. I would think that if he did say he was long in equities or equity long el gallinazohttps://www.blogger.com/profile/00642036843036726232noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-76267741791449520432009-03-14T16:12:00.000-04:002009-03-14T16:12:00.000-04:00Yes, I also remember Roubini being in cash. But An...Yes, I also remember Roubini being in cash. But Anon may be right.<BR/><BR/>A better chart for comparision is the 4 Bad Bears chart which has been posted here a few times before. It also looks like it's being updated daily.<BR/><BR/>And here's the latest on California. If you'll recall, I had said that the Pols wouldn't fix the basic problems, and we'd be seeing another mess next year. That's my Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-75092270416926266722009-03-14T15:43:00.000-04:002009-03-14T15:43:00.000-04:00VK - I also remember Roubini saying he was in cash...VK - I also remember Roubini saying he was in cash. Here is an article that I found via Google...<BR/><BR/>"we learned that both of them have a large allocation to cash."<BR/>http://seekingalpha.com/article/119693-how-cnbc-squandered-roubini-and-taleb<BR/>or<BR/>http://tinyurl.com/b9xsqw<BR/><BR/><BR/>and another<BR/>"Roubini, chairman of consultancy RGEMonitor, said it will be a minimum of 12 bluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-79140778713307883992009-03-14T15:39:00.000-04:002009-03-14T15:39:00.000-04:00@ VK I had assumed he was in cash but maybe now he...@ VK <BR/><BR/>I had assumed he was in cash but maybe now he is modelling his portfolio on the Great Depression? From the dip you can see from the <A HREF="http://en.wikipedia.org/wiki/File:Stocks29.jpg" REL="nofollow"> wiki graph</A> stock would do a very nice rise indeed. If he has moved from cash to stock, since that interview you mention, is he hedging the bottom, or is it PR, N/A or what? <Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-89925815393165609712009-03-14T15:08:00.000-04:002009-03-14T15:08:00.000-04:00@ Anon at 12:59I thought Roubini was entirely in c...@ Anon at 12:59<BR/><BR/>I thought Roubini was entirely in cash, that's what he said in his CNBC interview alongside Nassim Taleb? <BR/><BR/>Strange. I remember that interview was posted on TAE after the World Economic Forum at Davos.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72102789958937529082009-03-14T15:03:00.000-04:002009-03-14T15:03:00.000-04:00RE.:Reserve Banking ======= I should add that the ...RE.:Reserve Banking <BR/>======= <BR/>I should add that the simple example is just that and the comment sections gets into how the simple rules do get broken in real life and will cause the “corrections”.<BR/>The comments have not yet brought out the effects of “bonus” on the system.<BR/>Karl kept the annual cost fixed in order to keep his example understandable.<BR/>Example: <BR/>“… $60,000 for Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69534894769180091852009-03-14T14:14:00.000-04:002009-03-14T14:14:00.000-04:00Jal,I agree, do read the comments on Karl's thread...Jal,<BR/><BR/>I agree, do read <A HREF="http://tickerforum.org/cgi-ticker/akcs-www?post=87197&page=1" REL="nofollow">the comments</A> on Karl's thread. I agree with the commenters on the first page who point out that fractional reserve banking is initially inherently inflationary (as it expands the supply of credit, and hence the sum of money and credit relative to available goods and services), Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-8000090230658709172009-03-14T14:06:00.000-04:002009-03-14T14:06:00.000-04:00For those who don't usually read Denninger, he has...For those who don't usually read Denninger, he has a discussion forum for user comments. Here is the link for Reserve Banking comments<BR/>http://www.tickerforum.org/cgi-ticker/akcs-www?post=87197<BR/>or<BR/>http://tinyurl.com/c9gfxmbluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-87260873797168079902009-03-14T13:55:00.000-04:002009-03-14T13:55:00.000-04:00Stoneleigh said... "Karl Denninger has a good piec...Stoneleigh said... <BR/>"Karl Denninger has a good piece on fractional reserve banking and the inevitability of booms and busts today."<BR/>----- <BR/>The comments are a must read to get a balance explanation.<BR/>jalAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-26918422185077747662009-03-14T13:49:00.000-04:002009-03-14T13:49:00.000-04:00CA (on Eric Jantzen),1. Epiphany that tax receipts...CA (on Eric Jantzen),<BR/><BR/><I>1. Epiphany that tax receipts will be dramatically lower than current estimates and expectations, creating a fiscal deficit shock (Timing: Late April or early May?)</I><BR/><BR/>True.<BR/><BR/><I>2. Epiphany that demands on the Federal budget are higher than currently expected due to extension of lender of last resort operations to finance current credit market Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69937099281223556932009-03-14T13:13:00.000-04:002009-03-14T13:13:00.000-04:00The previous anon post was mine, btw. I don't know...The previous anon post was mine, btw. I don't know why blogspot didn't take the addition of the name, but it happens.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-3279317150623543032009-03-14T13:10:00.000-04:002009-03-14T13:10:00.000-04:00@Swampfox:"How many times does it have to be point...@Swampfox:<BR/>"How many times does it have to be pointed out that this system is anything but "free market". "<BR/><BR/>Ah, the standard defense of the libertarian.<BR/><BR/>The problem is that there is never any free market. And the current system is due to the standard refrain of the laissez-faire free-market apologists. "It's great in theory, if only we'd try it". Which is identical to what Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-56912227803894491222009-03-14T12:59:00.000-04:002009-03-14T12:59:00.000-04:00From Financial Times:" So how are Roubini’s own fu...From Financial Times:<BR/><BR/>" <I>So how are <A HREF="http://www.ft.com/cms/s/0/7a4c06c4-dbc8-11dc-bc82-0000779fd2ac.html?nclick_check=1" REL="nofollow">Roubini’s own funds invested</A>? They are 100 per cent in equities. In the long run stocks do best and he is not yet close to retirement, so he keeps putting more money into index funds each month.</I> "Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-901995410561588602009-03-14T12:57:00.000-04:002009-03-14T12:57:00.000-04:00I've just heard the G20 finance interview on BBC.A...I've just heard the G20 finance interview on BBC.<BR/><BR/>All are in agreement ... <BR/><B>Do anything and everything to avoid a crash.</B><BR/>jalAnonymousnoreply@blogger.com