tag:blogger.com,1999:blog-4921988708619968880.post5555143154916159959..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, March 19 2008Ilargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-4921988708619968880.post-8162419216591652772008-03-21T20:42:00.000-04:002008-03-21T20:42:00.000-04:00Commodities prices fell, but only to prices reache...Commodities prices fell, but only to prices reached in Jan or Feb. The run-up in price could have easily been helped along with enough cash, just sayin...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-63333233719357594662008-03-20T01:24:00.000-04:002008-03-20T01:24:00.000-04:00As of about 1:20pm EDT on March 20th, the Chinese ...As of about 1:20pm EDT on March 20th, the Chinese stock market is at 21,085.51, down 781.43 (3.57%).<BR/><BR/>Somebody overseas doesn't believe the current fantasies being spun by Storyteller Ben.Greyzonehttps://www.blogger.com/profile/03675706201111951125noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-23257709057680045872008-03-19T19:39:00.000-04:002008-03-19T19:39:00.000-04:00A propos to derivatives is this quote-" oh the tan...A propos to derivatives is this quote-" oh the tangled web we weave when our intent is to deceive...<BR/>"Thomas Homer-Dixon, in to-day's Globe,wrote of risk and uncertainty. Risk can be managed, uncertainty cannotscandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-90386195358075594982008-03-19T18:01:00.000-04:002008-03-19T18:01:00.000-04:00I recall an article that was posted here about a m...I recall an article that was posted here about a month ago or more that predicted the Merrill/XL Capital conflict where these various counter parties haven't even read the fine print on what they've signed, let alone are they going to agree on it's interpretation when push comes to shove. Well Merrill's pushing now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-27410300147251595002008-03-19T17:50:00.000-04:002008-03-19T17:50:00.000-04:00Bigelow,I don't know what faith you see me have in...Bigelow,<BR/><BR/>I don't know what faith you see me have in the present political system, based on my words.<BR/><BR/>I fear what I think is most likely to replace it, were it to fail.Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-13111549075798195782008-03-19T17:41:00.000-04:002008-03-19T17:41:00.000-04:00Anon says:'I feel like I'm in the movie, "Invasion...Anon says:<BR/><BR/>'I feel like I'm in the movie, "Invasion of the Body Snatchers"'<BR/><BR/>I've felt this way for decades--most people's intense, numb, ambitious self-involvement is kind of spooky (or funny). But, lately, it seems I've got the Invader wrong--It's not people hypnotised by dreams and careers--the Invaders are the people hiding behind the institutional holders of our largest Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-90606339985990269242008-03-19T16:58:00.000-04:002008-03-19T16:58:00.000-04:00Regarding Evans-Pritchard, seems like we need more...Regarding Evans-Pritchard, seems like we need more info....How about a what if...What if the bankers succeed in transferring private debt to the public sector? Than what? I would love to hear the possible scenarios discussed...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82299720314674038462008-03-19T16:39:00.000-04:002008-03-19T16:39:00.000-04:00Friends and family are so utterly unaware of the u...Friends and family are so utterly unaware of the underlying nature of the current financial meltdown, I feel like I'm in the movie, "Invasion of the Body Snatchers"<BR/><BR/>The level of denial in the US has reached hallucinogenic proportions.<BR/><BR/>This is going to make the eventual reckoning so much worse, it will be like throwing a bucket of water on a red hot grease fire. Volatile beyond Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81872277010662875272008-03-19T16:06:00.000-04:002008-03-19T16:06:00.000-04:00“Unless that stops, and in the very near future, I...“Unless that stops, and in the very near future, I'm afraid the political system will be buried in the same grave as the finance system.”<BR/><BR/>Ilargi, I am in absolute awe of your economic acumen. I think what faith you have in the political system is misplaced however. U.S. local politics might still be representative of the people. But any tiny moves to more democratic norms made because ofBigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-2767818912292139632008-03-19T15:13:00.000-04:002008-03-19T15:13:00.000-04:00Counterparty problems in Credit Defaul Swap Land: ...Counterparty problems in Credit Defaul Swap Land: <A HREF="http://www.bloomberg.com/apps/news?pid=20601087&sid=aBKpwYoyhbjk&refer=home" REL="nofollow">Merrill Sues XL Capital to Maintain CDO Insurance</A>.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42654118673492518462008-03-19T15:05:00.000-04:002008-03-19T15:05:00.000-04:00François,The present financial system is way too f...François,<BR/><BR/>The present financial system is way too far in debt to be saved by bail-outs. Just look at the derivatives holdings at the top three banks. They are leveraged 100 times. <BR/><BR/>The last thing Joe Ultra Light Six Pack needs these days is more debt on his head. Still, that's what goes on: a banking system that is comatose and braindead is kept alive at the expense of people Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-60972150677066073772008-03-19T14:38:00.000-04:002008-03-19T14:38:00.000-04:00Hello Ilargi,I read your comment above the article...Hello Ilargi,<BR/><BR/>I read your comment above the article by Ambrose Evans-Pritchard and wondered how we were to interpret it. Are you saying (and this would also be a response to my first comment tonight) that the situation for the U.S. is hopeless and that any efforts to limit the damage will only increase the damage?<BR/><BR/>If that is the case, what are you advocating?<BR/><BR/>Ciao,<BR/>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-4247318940826409462008-03-19T12:37:00.000-04:002008-03-19T12:37:00.000-04:00“Jim Sinclair has revealed the identity of a major...“Jim Sinclair has revealed the identity of a major gold investor working in cahoots with the gold cartel itself. When the gold cartel takes a huge position to short gold in the futures market, all intended to suppress the upward flight in the gold price, some entity takes the counter-party position. At the March PDAC gold conference in Toronto Ontario in Canada, the irrepressible Sinclair claimedAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-56938273812140411562008-03-19T12:23:00.000-04:002008-03-19T12:23:00.000-04:00From Bloomberg This:One hundred basis points was p...From <A HREF="http://www.bloomberg.com/apps/news?pid=20601082&sid=a3CG6z1.09rU&refer=canada" REL="nofollow">Bloomberg</A> This:<BR/><BR/><I>One hundred basis points was priced into the market and so gold is correcting for that,'' said Joel Crane, a metals strategist at Deutsche Bank AG in New York. ``There's a lot of positions that need to be unwound. Gold performs better in a lower interest-rateAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19491751964939627742008-03-19T11:56:00.000-04:002008-03-19T11:56:00.000-04:00Hello Ilargi and StoneleighBeen reading since the ...Hello Ilargi and Stoneleigh<BR/><BR/>Been reading since the TODC days. Anyway, thanks for the Wenzel piece. I was reading the LA Times coverage this AM on the Fed moves. The paper pointed out that lowering fed rates is largely an attempt to entice investors out of low interest safety and into higher risk investments. I was think, ya, reflate ... that'll do it.<BR/><BR/>But as is clear by Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66782045979674687012008-03-19T11:41:00.000-04:002008-03-19T11:41:00.000-04:00Hello Ilargi,Daniel Cohen indeed spoke of the sove...Hello Ilargi,<BR/><BR/>Daniel Cohen indeed spoke of the sovereign funds saving the day and of stagflation. I wrote to him noting the current destruction of credit and questioning how inflation/stagflation could be possible under those conditions. I also questioned how the sovereign funds could possibly cover the unwinding of the derivatives markets. He has not responded.<BR/><BR/>In short, I Anonymousnoreply@blogger.com