tag:blogger.com,1999:blog-4921988708619968880.post5737114258609873419..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, May 14 2008: Will lie for foodIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-4921988708619968880.post-42532461428543461452008-05-15T10:44:00.000-04:002008-05-15T10:44:00.000-04:00El Pollo,Markets are simply not rational, and mark...El Pollo,<BR/><BR/>Markets are simply not rational, and market moves have much less to do with the fundamentals than most people think. A dollar rally may occur simply because with most market participants short, there's an opportunity for a few large players to nudge the dollar upwards and watch the shorts forced to cover. Bottoms happen when there's a strong consensus that things can only get Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-63838111458163805562008-05-15T10:22:00.000-04:002008-05-15T10:22:00.000-04:00IIRCC, the Eurozone has a roughly even balance of...IIRCC, the Eurozone has a roughly even balance of payments, shored up by a large export surplus of Germany. We all know what's going on with the dollar. So I figure that based on fundamentals, there is little bottom to the dollar other than none of the central banks want it to fall further. Right now they are "talking" the dollar up. Is it possible for the central banks to intervene without Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-56002289118757318622008-05-15T03:31:00.000-04:002008-05-15T03:31:00.000-04:00Big Daddy: "What's that smell in this room? Didn't...Big Daddy: "What's that smell in this room? Didn't you notice it Brick? Didn't you notice a powerful and obnoxious odor of mendacity in this room?...There ain't nothin' more powerful than the odor of mendacity...You can smell it. It smells like death."<BR/><BR/>Brick: "You said it yourself Big Daddy, mendacity is a system we live in."<BR/><BR/>Tennessee Williams<BR/>Cat On a Hot Tin RoofAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-10305467716833431542008-05-14T23:57:00.000-04:002008-05-14T23:57:00.000-04:00Never expect the markets to be rational :)No, we c...Never expect the markets to be rational :)<BR/><BR/>No, we can't lie our way out of this, or spread out the losses over a long time by muddying the waters. At some point the chickens will come home to roost despite every attempt to deny the severity of what we're facing. <BR/><BR/>The losses are too large to conceal for long, and are growing very rapidly as defaults in the loans at the base of Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-2797190563860908222008-05-14T16:18:00.000-04:002008-05-14T16:18:00.000-04:00Well at least that was figured out quick:http://ww...Well at least that was figured out quick:<BR/><BR/>http://www.bloomberg.com/apps/news?pid=20601087&sid=a75bxyERfFRw&refer=home<BR/><BR/>Going after you guys:<BR/><BR/>"clearly, based on the comments and reports this morning by the real, substantive analysts who follow this company, the Street is comfortable with our accounting and reporting, and encouraged by the results we presented today."<BR/>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-7636399410703894442008-05-14T14:38:00.000-04:002008-05-14T14:38:00.000-04:00I second the question about continued lying to "ge...I second the question about continued lying to "get out" of this mess.<BR/><BR/>They've been doing this type of thing all along, right?<BR/><BR/>I'm thinking about the sentiment expressed on lots of counter-culture blogs where the older man says, "I knew this system was fcuked 30 years ago and I've just been waiting for it to crash."<BR/><BR/>I feel like I could have jumped on this doom train 10 Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36076079434094938202008-05-14T12:51:00.000-04:002008-05-14T12:51:00.000-04:00Ilargi & Stoneleigh,Do you think we can lie our wa...Ilargi & Stoneleigh,<BR/><BR/>Do you think we can lie our way out of this?<BR/><BR/>Looking over Freddie Mac's earning report it was clear that things were worse than Q4 when you actually looked through it. <BR/><BR/>But with the accounting changes with FAS 157 & 159 the earnings number looked real good--which is all a lot of ADD investors ever pay attention to. Working backwards, I figured Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-50986160633022034722008-05-14T12:49:00.000-04:002008-05-14T12:49:00.000-04:00FB,Thank you. I will look into this.FB,<BR/><BR/>Thank you. I will look into this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-28210910769454458702008-05-14T12:34:00.000-04:002008-05-14T12:34:00.000-04:00François,Mike Shedlock, struggling with similar is...François,<BR/><BR/>Mike Shedlock, struggling with similar issues, has defined what I find the most comprehensive definition: <B>M Prime</B>, written as <B>M'</B>.<BR/><BR/>It includes: "Cash + demand deposits with commercial banks and thrift institutions + government deposits with banks and the central bank + sweeps + other checkable deposits."<BR/><BR/>For more, read for example <A HREF="http://Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-48818538353396685532008-05-14T11:51:00.000-04:002008-05-14T11:51:00.000-04:00Hello,In response to El Pollo in the 8 May issue, ...Hello,<BR/><BR/>In response to El Pollo in the 8 May issue, did you know that you can have the German financial agency (Bundes-Finanzagentur) hold and mange your treasuries free of cost ? Five-year instruments (Bundesobligationen) you can buy and have held (both free of cost) by the agency. Longer instruments (Bundesanleihen) must be bought elsewhere (with fees), but the agency will hold and Anonymousnoreply@blogger.com