Debt Rattle January 5 2019

 

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  • #44712

    Alfred Sisley A Village Street in Winter 1893   • Dow Up 700 Points As Powell Says Fed Will Be Patient With Rate Hikes (CNBC) • US Gains 312,000
    [See the full post at: Debt Rattle January 5 2019]

    #44713
    V. Arnold
    Participant

    OMG! An avalanche of bullshit!
    What to do; what to do?
    Ignore the whole tranche and move on with your life as best you can.
    You’re walking down a trail rife with danger; be on your best guard! Expect an ambush at every turn and act accordingly.
    For those not so well equipped?
    Hold your ground and do nothing; let the storm pass over and go from there…

    #44714
    Dr. D
    Participant

    Alfred Sisley A Village Street in Winter 1893

    In a world before snowplows.

    Again, don’t watch the big daily moves – traders make money on volatility – but those are major breakdowns. If the whole price-structure sags, you reach non-negotiable margin calls as the entire economy is over-leveraged. Reversal of leverage is, as they say, “Up by the stairs, down by the elevator shaft”, and overshoots.

    A jobs report that is more nonsense than the usual nonsense. Look at the long term workforce participation. But you have to have plausible cover for Mnuchin to pull the green lever 700 points and rock the little markets while attracting the world to “safety”, ie the US.

    By neutral rates, he means he’s at the event horizon, which as the center nation, means everyone else has definitely been pushed over the cliff. If he raised more, people would realize this. So as we say in America “It’s not whether you win or lose, but where you place the blame.” As the world’s pre-emminate bullsh-tters, this is the real focus of affairs. Congress blames Trump. Trump blames the Fed. China blames America, and so on. And Macron blames the Russians.

    The logic – such as there is any – was that the Fed buying assets ran the market up, but selling them will not run the market down. Gotcha. Remember Kudlow says there’s no Recession in sight. Subprime is contained.

    They had this wall thing the day the Democrats said the President was Hitler, but then gave him a few extra ten billion for military and spy agencies anyway. Nice #Resistance. But where would the fun be in that? Much better to blame the other party and make political hay. And honestly, he did tell congress he would sign any immigration reform they put in from of him. They didn’t, same as the last 40 years. The Democratic House won’t either, although all the people they claim to love are dying because of it. And speaking of blasts from the past, there’s a video going around with every politician for the last 40 years speaking in favor of building a wall and controlling the border. Obama, Clinton, Pelosi, Schumer, and naturally McCain, Romney, etc. In fact Schumer voted $25 billion in favor of the wall already. –But that was under Obama. Now of course, $25 billion is madness, bigotry, and hate. Ah, such is politics, and the people love it. My side, right or wrong.

    PS, still haven’t noticed the government shutdown. Maybe by Thanksgiving it will affect our lives somehow. But who knows, maybe the EPA will blow fewer containment ponds, fewer Quakers have been wiretapped, and fewer foreign journalists have been indicted for crimes outside U.S. jurisdiction.

    Like I said, Mueller should have a lifetime appointment. He can investigate forever and ever and ever and hand the office down to his children and grandchildren, who can investigate Ivanka’s and Barron’s children and grandchildren. Sound good? Because if the President had even the slightest whiff of treason, Mueller could not, in any possible universe, wait to present evidence because the planet’s nuclear codes and the existence of the Republic would be at risk. No report = no evidence, unless Mueller is a traitor too. Not impossible, as apparently Russia runs all of France and the yellow vests, all of Britain and Brexit, the AfD in Germany, all the blacks in America (who in a great fit of racial equality Democrats say are poor, weak-minded children easily fooled by Russians), and probably everything everywhere else in the world. Why not Mueller? He probably saw a Facebook ad or something.

    “in the 1950s and 60s those rates were as high as 90%.”

    Yes, and they didn’t pay them then, either. They bought loopholes, crated shell trusts, and lodged money through corporations. Like Buffet, who still pays less than his secretary. If you’re “rich” almost by definition you can take “income” at will, not by necessity, because you don’t have a paycheck. Also she grew up in Westchester and thinks $10M is “rich”? $10M means you own a house. I don’t mind her saying it, she should do what she believes in, but a whiff of this talk pulled all the Billionaires out of France, and now they have nothing. NJ had ONE billionaire leave for Florida and it blew an unfillable hole in their budget. Think carefully. We never needed any of this before; maybe you’re spending too much?

    So Latin America can overturn their neighbor’s elections now? Where will it end? Has anybody heard of that quaint notion of sovereignty anymore? You know, the one we’re mad at China for thinking of overturning? Why should they care if they overturn it, we’re not using Westphalia anyway.

    He may be a dictator. But we’ve had dictators since day one, they were called “kings.” We may have some now, far from South America.

    “US Senator: Turkey Must Choose Between US Jets and Russian Missiles (K.)”

    That’s the easiest choice ever: an overpriced plane that can’t fly or the world’s best missile at half price. Senator Dumas may not like his answer.

    Those mean right wingers, wanting democracy! How dare they? And I notice they did not have a problem with the immigration levels of the 90’s, putting a lie to the “no immigration” which if you asked anyone, anywhere, would be happy to tell this reporter. It just doesn’t sound appropriately biased when you say “legal immigration” with “rules for entry” and “peaceful integration with the culture” when you “stop bombing and interfering in foreign governments.”

    #NonsenseIndeed.

    #44715
    zerosum
    Participant

    I guarantee you …. what ever L. Kudlow says is true …. not B. S. /sac

    Despite a “gloomy” picture in the stock market, Trump’s top economic advisor says a U.S. recession is not in the cards.
    National Economic Council Director Larry Kudlow cites the better-than-expected jobs report, which showed the economy adding 312,000 jobs in December.
    “There’s no recession in sight,” Kudlow tells Bloomberg television.

    Who is this guy
    https://en.wikipedia.org/wiki/Larry_Kudlow

    director of staff of 25 to coordinate the economic policy making process and provide economic policy advice to the President. The Council also ensures that economic policy decisions and programs are consistent with the President’s stated goals, and monitors the implementation of the President’s economic goals.

    https://en.wikipedia.org/wiki/National_Economic_Council_(United_States)

    What are his outstanding qualification for the job.
    Kudlow has been married three times:
    former television host
    Well connected name dropper
    His advise is always wrong
    Kudlow’s style is boldly assertive and his line of argument is always framed in expressions of optimism about the economy, the stock market, and the dollar.
    a publicized battle with cocaine and alcohol addiction,
    His family is Jewish.
    In 1970, he was still a Democrat,

    #44716
    teri
    Participant

    Dr. D,

    Well, people will start to notice the shutdown if it is still going on when they want to file their tax returns. The IRS only has 10 – 12% of its staff working (without pay), and those are the ones who are responsible for the internal IRS security.

    They haven’t finalized the tax forms for 2018, are not answering the phone lines, even the taxpayer help lines, and will not issue refunds during the shutdown.

    Not that anyone would get a refund since the damn forms aren’t finished yet. Companies like Turbotax will do their best for early filers, but will have to hold the returns in electronic limbo until 1) the forms are finalized and the returns can be checked against them, and 2) the IRS is open again and accepting returns.

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