tag:blogger.com,1999:blog-4921988708619968880.post9126603580132135897..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, October 10 2008: Good Night AmericaIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger89125tag:blogger.com,1999:blog-4921988708619968880.post-24949328095420834762008-10-13T14:10:00.000-04:002008-10-13T14:10:00.000-04:00Well, it's Monday and the world is indeed a differ...Well, it's Monday and the world is indeed a different place. It's a place where war is being waged on deflation. And as so often is the case, governments are very slow to fight inflation--but they race to fight deflation like men with their hair on fire. This is why the world has not seen deflation in 70 years.www.gregor.ushttps://www.blogger.com/profile/14172143997858920566noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66842287661287732102008-10-11T20:27:00.000-04:002008-10-11T20:27:00.000-04:00fb, "The do unto others as you would have the...fb, "The do unto others as you would have them do unto you" is about actual truth and will always remain timeless. Ethics, monetary jargon, credit swaps, laundering---Yep, all encompassing timelessness and radiantly irrefutable.<BR/><BR/>This fractional banking crap is the root of the problem. There is no way whatsoever that any outcome leveraging unbacked fiat can have a happy ending. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-37745579845217244422008-10-11T18:46:00.000-04:002008-10-11T18:46:00.000-04:00Hi I&S,First, let me join everyone else in tha...Hi I&S,<BR/><BR/>First, let me join everyone else in thanking you for the service you have done. I started off as a regular TOD reader until I read Stoneleigh's credit crunch primer. It became apparent to me very quickly that the credit crunch was the more significant crisis, especially in the short term - how do governments create renewable infrastructure if they can't get credit?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-35326116042561968522008-10-11T16:19:00.001-04:002008-10-11T16:19:00.001-04:00Z,I'll check out Mish's piece and comment on the n...Z,<BR/><BR/>I'll check out Mish's piece and comment on the new Debt Rattle thread.Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19646455005771337262008-10-11T16:19:00.000-04:002008-10-11T16:19:00.000-04:00OC,I have surmised recently that traders' speculat...OC,<BR/><BR/><I>I have surmised recently that traders' speculation in the short term might lead them to take the inflationist's view which will trump flight to safety and raise long term bond yields.</I><BR/><BR/>They tend to take the inflationist view when we see counter-trend rallies, but I don't think this coming rally will last long enough for that to happen (I'm guessing a couple of months).Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-49838792670503506182008-10-11T15:42:00.000-04:002008-10-11T15:42:00.000-04:00Anon @3:17,Canada has managed to produce surpluses...Anon @3:17,<BR/><BR/>Canada has managed to produce surpluses at the federal level largely due to the erstwhile boom in demand for our manufactures south of the border, the global commodity boom, the economic stimulation of our own housing boom, the willingness of the populace to consume themselves (taxably) into heavy debt loads, and downloading everything on to the provinces, which in turn Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-13284957323877741732008-10-11T15:17:00.000-04:002008-10-11T15:17:00.000-04:00As to the lack of publicity regarding the sale of ...As to the lack of publicity regarding the sale of CSB's, it may be simply that Canada needs so little in the way of new bond sales because we have had budget surpluses over the past ten years and have re-configured our national debt to our best advantage already. <BR/><BR/>This position has been advanced by the Dept of Finance over past years to defend low interest rates on CSB's, GoC bonds, etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-21877638647917365532008-10-11T15:11:00.000-04:002008-10-11T15:11:00.000-04:00crystalradio:"PS. There seems to have been no adve...crystalradio:<BR/>"PS. There seems to have been no advertising campaign this year for those bonds. That, as well, struck me as strange but does seem to tie into the election idea."<BR/><BR/> Google for keywords relating to the bond release delay and see how little you find.<BR/> Canadians are "nice" the way that sheep are "nice". <BR/> Too easily lead and so too easily mislead. <BR/><BR/>The Lizardhttps://www.blogger.com/profile/12044779666881689690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81187224766642431342008-10-11T14:28:00.000-04:002008-10-11T14:28:00.000-04:00Not to deliberately get anyone's wind up but sale ...Not to deliberately get anyone's wind up but sale of CSB's can be closed off at any time at the ministers discretion.<BR/><BR/> When the initial sale was delayed from it's advertised date two things came to mind . First was that the reason was that the rates would be lower and bad news for Harper in the election. The other that there were serious problems with issuing them at all.<BR/><BR/>It Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88135835680648436922008-10-11T13:46:00.000-04:002008-10-11T13:46:00.000-04:00Catherine Austin Fitts...worth a readsolari/TSCatherine Austin Fitts...worth a read<BR/><BR/><A HREF="http://solari.com/blog/" REL="nofollow">solari</A><BR/><BR/>/TSAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-25800391782988995492008-10-11T13:23:00.000-04:002008-10-11T13:23:00.000-04:00outtacontrol:"I bought CSBs on-line this morning" ...outtacontrol:<BR/>"I bought CSBs on-line this morning"<BR/><BR/> Same here yesterday.<BR/> Regular bonds. Cashable anytime. <BR/><BR/> Guest Bud Burrell on FSN's program is advocating a full constitutional reset in the USA. The system is too damaged and corrupt and the only answer is to start all over again. <BR/><BR/> Listening to him talk was one of those moments when I realized I couldThe Lizardhttps://www.blogger.com/profile/12044779666881689690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-15766740071140968822008-10-11T13:22:00.000-04:002008-10-11T13:22:00.000-04:00Both Canada and NZ were on my short list to migrat...Both Canada and NZ were on my short list to migrate. Not sure how I would do this. Just go for a visit and disappear? Without housing or job, it would be difficult. I see medical problems in my future and with no insurance, a hospital visit would consume my small amount of savings. Sad that this is how the US treats its people.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-64452774960151656662008-10-11T12:59:00.000-04:002008-10-11T12:59:00.000-04:00BTW, I bought CSBs on-line this morning in two bat...BTW, I bought CSBs on-line this morning in two batches. First transaction took about 10 minutes, second about 3 minutes. Easy peasy. They don't actually get purchased until Nov 1 and then, presumably, there's a 4-6 week delay until the certificates are received. I got the regular CSBs rather than the premium bonds because you only have one month per year to redeem the premium bonds without Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-73426356488253058432008-10-11T12:55:00.000-04:002008-10-11T12:55:00.000-04:00StoneleighI have surmised recently that traders' s...Stoneleigh<BR/><BR/>I have surmised recently that traders' speculaton in the short term might lead them to take the inflationist's view which will trump flight to safety and raise long term bond yields. So far that hypothesis is unproven; yields have alternatively plummetted and rocketed for whatever reasons.<BR/><BR/>But let me clarify my concern. Since the lump sum of my pension if/when I Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-80916857505500168332008-10-11T12:49:00.000-04:002008-10-11T12:49:00.000-04:00@ Ric,This is Robyn M., the other half of Brian M....@ Ric,<BR/><BR/>This is Robyn M., the other half of Brian M. You are welcome to invade my personal blog with this discussion, if you'd like. Link should be in my name above.<BR/><BR/>Thanks so much to Illargi & Stoneleigh. This blog is a revelation. And glad to see the cat-loving knitters coming out of the woodwork here!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-32469778889356992872008-10-11T12:14:00.000-04:002008-10-11T12:14:00.000-04:00Roubini interview Go to video list, his visage is ...<A HREF="http://www.iadb.org/news/videos.cfm?arttype=VI&language=En&parid=7#" REL="nofollow">Roubini interview </A><BR/><BR/>Go to video list, his visage is there #1Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42880223918379632262008-10-11T12:12:00.000-04:002008-10-11T12:12:00.000-04:00This comment has been removed by the author.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72015788691384369872008-10-11T11:54:00.000-04:002008-10-11T11:54:00.000-04:00Hi Brian M,What a wonderful response! Yes, primit...Hi Brian M,<BR/>What a wonderful response! Yes, primitive recursive arithmetic can't prove the consistency of Peano axioms. In my view, this demonstrates (not proves) the problem, which is how logic is more reductive than conclusive. Russell and Whitehead argued about this; and as you can probably tell, I side with Whitehead. <BR/><BR/>You're right that this is all too far off-topic. and Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-67476853632877821582008-10-11T11:46:00.000-04:002008-10-11T11:46:00.000-04:00I too wish to thank our hosts Ilargi and Stoneleig...I too wish to thank our hosts Ilargi and Stoneleigh for starting this blog. I happened upon it last spring, and am most grateful for their knowledge and wisdom. I have learned a lot reading them, and from the other posters here.<BR/>Anonymous Readerbluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81417577394031797172008-10-11T11:29:00.000-04:002008-10-11T11:29:00.000-04:00scandia: "ModernMystic. Cheerful fellow!I hope he ...scandia: <BR/>"ModernMystic. Cheerful fellow!I hope he lives with a cat for his own wellbeing."<BR/><BR/> He lives with Mrs. Mystic. Whether that is good for <I>her</I> wellbeing is unknown.The Lizardhttps://www.blogger.com/profile/12044779666881689690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36072652908366835042008-10-11T11:27:00.000-04:002008-10-11T11:27:00.000-04:00el pollo, thanks for the roubini mention, couldn't...el pollo, thanks for the roubini mention, couldn't find the show you mention but here is some writing, <A HREF="http://www.rgemonitor.com/blog/roubini/" REL="nofollow">Roubini</A>, on Oct 9 with a Oct10 mention of the market. Pretty good on the horror show scale. He gives a point by point idea of what needs be done by world govt., - on this wish-list, I will agree he would definitely have to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-55089809235529055562008-10-11T11:04:00.000-04:002008-10-11T11:04:00.000-04:00thehangedman, thanks for the link to the ModernM...thehangedman, thanks for the link to the ModernMystic. Cheerful fellow!I hope he lives with a cat for his own wellbeing.scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-33920292058675907642008-10-11T10:58:00.000-04:002008-10-11T10:58:00.000-04:00Starcade,But short-term T-Bills are basically now ...Starcade,<BR/><BR/><I>But short-term T-Bills are basically now at zero return. (The 1-month has been basically between 0.03% and 0.06%.)</I><BR/><BR/>The return doesn't matter. People, and pension funds etc, have got into a great deal of trouble chasing yield without realizing that means chasing risk. What matters now is not the return ON capital, but the return OF capital. You need to put what Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-4492231317349822402008-10-11T10:55:00.000-04:002008-10-11T10:55:00.000-04:00stoneleigh,Mish wrote a "S&P 500 crash co...stoneleigh,<BR/><BR/>Mish wrote a "S&P 500 crash count" yesterday. can you comment on if the E-wave count and outlook is similar to yours? thanks.<BR/><BR/>zAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-39921871637655380592008-10-11T10:45:00.000-04:002008-10-11T10:45:00.000-04:00Viv in NZ,Greetings from one knitter (and general ...Viv in NZ,<BR/><BR/>Greetings from one knitter (and general handcraft addict) to another :)<BR/><BR/>I was tempted by NZ when I was deciding to leave the UK, but ended up in Canada as I have family and citizenship here. NZ certainly has factors in its favour, apart from being beautiful.Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.com