tag:blogger.com,1999:blog-1207581886255094115.post6900989704261877182..comments2024-02-26T05:51:17.859-05:00Comments on Economic Disconnect: Dissent Will Not be ToleratedEconomicDisconnecthttp://www.blogger.com/profile/02802078645713106743noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-1207581886255094115.post-85212429044978101922008-12-08T13:36:00.000-05:002008-12-08T13:36:00.000-05:00HAS THE CURTAIN FALLEN ON THE LAST CONTANGO IN WAS...HAS THE CURTAIN FALLEN ON THE <BR/>LAST CONTANGO IN WASHINGTON?<BR/>by Antal E. Fekete<BR/><BR/>"Here is an update on the backwardation in gold that started on December 2. It continued and worsened on December 3, 4, and 5. So far this is the most serious signal of the economic crisis: the world is rushing headlong into a Great Depression, possibly worse than that of the 1930’s."<BR/><BR/>"This is why this battle is so crucial: it is the first real confrontation between physical gold and the paper dollar."<BR/><BR/> http://tinyurl.com/55jn5uAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-55629131899991224852008-12-07T17:32:00.000-05:002008-12-07T17:32:00.000-05:00Obama Plans Largest Building Program Since 1950s B...Obama Plans Largest Building Program Since 1950s <BR/><BR/>By Hans Nichols<BR/><BR/>"Dec. 6 (Bloomberg) -- President-elect Barack Obama said he’ll make the “single largest new investment” in roads, bridges and public buildings since the Eisenhower Administration to lift the sagging economy and create jobs."<BR/><BR/>http://tinyurl.com/5lc6zpAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-45576864314574426292008-12-07T17:20:00.000-05:002008-12-07T17:20:00.000-05:00@ KevinIt was possibly over a year ago, maybe long...@ Kevin<BR/>It was possibly over a year ago, maybe longer that you made a statement to the effect that in the future infrastructure would come to the forefront as a way for the US to create jobs and stimulate the economy.<BR/>As we all know this seems to be President Elect Obama's main talking point here lately...good call Kevin!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-80586467037517450072008-12-07T12:02:00.000-05:002008-12-07T12:02:00.000-05:00Treasury Department officials are laying the groun...Treasury Department officials are laying the groundwork for seeking the second half of the $700 billion financial rescue package from Congress and have approached President-elect Barack Obama's transition team in an effort to gain access to the funds, sources familiar with the matter said.<BR/><BR/>With lawmakers on both sides of the aisle expressing heated opposition to such a request, Treasury officials have come to realize that they need the president-elect's help to obtain the rescue money, the sources said.<BR/><BR/>The Treasury aired the possibility of seeking the second half of the funds with transition team officials, who said they would attend a meeting with lawmakers and the Bush administration if the department pulled one together.<BR/><BR/>Of the first $350 billion in rescue money provided by Congress, the Treasury has only $15 billion left, which may not be enough to save a major financial institution if it collapses. <BR/><BR/>http://www.washingtonpost.com/wp-dyn/content/article/2008/12/05/AR2008120502533_pf.html<BR/><BR/>Why is I think that if over the next week and a half if Hanky ain't got his money some key company may run into a few financial problems. Hummmmmmmm<BR/><BR/>KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-44853978348458938622008-12-07T10:02:00.000-05:002008-12-07T10:02:00.000-05:00As expected, Mr Paulson urged Beijing not to aband...As expected, Mr Paulson urged Beijing not to abandon efforts to let the renminbi appreciate, said US officials, amid fears China might want to let its currency weaken to help local exporters weather the global slowdown. <BR/><BR/>But Mr Paulson also found himself facing calls for the US to address its own economic problems. Wang Qishan, a vice-premier and leader of the Chinese delegation at the two-day talks, called on the US to take swift action to address the crisis.<BR/><BR/>“We hope the US side will take the necessary measures to stabilise the economy and financial markets as well as guarantee the safety of China’s assets and investments in the US,” he said.<BR/><BR/>The dialogue was dominated by the global crisis. Zhou Xiaochuan, governor of the Chinese central bank, urged the US to rebalance its economy. “Over-consumption and a high reliance on credit is the cause of the US financial crisis,” he said. “As the largest and most important economy in the world, the US should take the initiative to adjust its policies, raise its savings ratio appropriately and reduce its trade and fiscal deficits.” <BR/><BR/>Although China also faces a rapidly slowing economy and rising unemployment, the tone of the comments reflected an underlying shift in power. <BR/><BR/>Eswar Prasad, a senior fellow at the Brookings Institution, said: “One result of the crisis is that the US no longer holds the high ground to lecture China on financial or macroeconomic policies.” <BR/><BR/>http://www.ft.com/cms/s/0/48ac15fc-c1bc-11dd-831e-000077b07658.html?nclick_check=1<BR/><BR/>Uh-Huh<BR/>KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-63379535875012259052008-12-06T01:39:00.000-05:002008-12-06T01:39:00.000-05:00I wonder how long everyone can continue to believe...I wonder how long everyone can continue to believe the fed and treasury who have been wrong and behind the curvr at every stage since the'crisis' began in July 2007.<BR/><BR/>Also, who really appreciate a post on the US Treasury market.<BR/>- What will be the impact as foreign central banks invest less of their forex reserves in treasuries, as they struggle to support local currencies, and local infrastructure projects.<BR/>- Also the lack of petrodollars from the middle east thanks to low oil prices, is negative for US Treasuries long term( given the scale of borrowing that will need to be done).<BR/>- As chinese exports clow/collapse, they will also be less aggressive while buying US Treasuries.<BR/><BR/>Any thoughts?<BR/><BR/>ps( excellent work on you blog as always.)<BR/><BR/>davidAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-66623060594046432322008-12-05T21:31:00.000-05:002008-12-05T21:31:00.000-05:00One more thing, Antal Fekete said that gold went i...One more thing, Antal Fekete said that gold went into "backwardation" for the first time in history. <BR/>Here is a short excerpt:<BR/><BR/>RED ALERT: GOLD BACKWARDATION!!! <BR/>by Antal E. Fekete,<BR/><BR/>"December 2, 2008, was a landmark in the saga of the collapsing international monetary system, yet it did not deserve to be reported in the press: gold went to backwardation for the first time ever in history."<BR/><BR/>http://tinyurl.com/5jq89kAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-29518476558745663872008-12-05T21:14:00.000-05:002008-12-05T21:14:00.000-05:00So Timma wants to s***can Sheila Bair.Ongoing cons...So Timma wants to s***can Sheila Bair.<BR/><BR/>Ongoing consolidation of power is what I say.<BR/><BR/>Will they be satisfied when the world is completely theirs?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-77210504108851610282008-12-05T20:47:00.000-05:002008-12-05T20:47:00.000-05:00GyscI believe there may be a lot of fund mangers t...Gysc<BR/><BR/>I believe there may be a lot of fund mangers trying to get their dismal bonus up for the year. The Yen topped this morning and rolled over right at the bottom and headed higher all day. Looks like on and A-B-C up we are headed to 971 on the S&P. This is the 10th day of the rally and they typically last 17-25 days so looks like Santa is coming to town. Option expiration is on the 20th and then we have the Friday after Christmas. This ain't over on the downside IMHOP, not even close. <BR/>Corn hit 3.06 today, them farmers that didn't get hedge or sell above 5.5 are a hurt'en<BR/>KevinAnonymousnoreply@blogger.com