Mr. Ninja, did the money supply really contract in the Great Depression (GD)? Mish is puttin' all his eggs in that basket in the sense that he thinks inflation is WAY off in the future, cause even though the money supply is growing at hyper rates, he says deflation in the form of credit contraction will overwhelm it just as it did in the GD. I'm not so sure he's correct and I fear he might be getting a little enamored of himself just as his current object of criticism (Schiff) has. If dollars were actually obliterated in the GD by the failure of 6,000 banks, then that's a big distinction, it seems to me, with a helluva difference, cause we got the FDIC now and we sure ain't on a gold standard. Thoughts?
Not to get totally off topic -- but since it does affect our economy, I thought I'd ask...
In the world of traders, there's a term when a stock shoots up really rapidly and then drops just as fast or faster, called "going parabolic." (For example: oil prices last year.)
Do you think that Pres. Obama's political clout is going parabolic (and likely to suffer the same downward plunge after his stimulus policies fail to stimulate)?
No because Obama is the media's darling. Also, I dont think anybody expects the US to come out of this for at least 4-5 years. So no matter what he will get re-elected.
I just wish he would go back to the Clinton school of tax and spend, instead of spend and spend.
Over the last 25 years we only had 5 years with a surplus - all under Clinton.
We really need to increase taxes on the wealthy right now.
Hmm. It's been a couple of weeks since I asked about Pres. Obama's popularity going parabolic in the comment above. Judging from the ire I'm starting to sense over several nominee's inability to pay taxes, his non-stimulus stimulus bill, and his bizarre foreign policy decisions -- I think he did go parabolic, and is now on the downward slope.
The Financial Ninja is a collection of my thoughts and opinions about current economic and market conditions. These are not buy and sell recommendations. Use your head and do your own research. This is a forum to stimulate discussion and debate.
I started trading during the tech bubble when I was still in high school. My trading has financed my education and I have since completed a BA in Economics and an MBA with a concentration in Finance. I have worked as both a proprietary equity and fixed income derivatives trader.
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Good point Ben. Update on Barclays?
Mr. Ninja, did the money supply really contract in the Great Depression (GD)? Mish is puttin' all his eggs in that basket in the sense that he thinks inflation is WAY off in the future, cause even though the money supply is growing at hyper rates, he says deflation in the form of credit contraction will overwhelm it just as it did in the GD. I'm not so sure he's correct and I fear he might be getting a little enamored of himself just as his current object of criticism (Schiff) has. If dollars were actually obliterated in the GD by the failure of 6,000 banks, then that's a big distinction, it seems to me, with a helluva difference, cause we got the FDIC now and we sure ain't on a gold standard. Thoughts?
I second DiverCity's questions! :-)
Not to get totally off topic -- but since it does affect our economy, I thought I'd ask...
In the world of traders, there's a term when a stock shoots up really rapidly and then drops just as fast or faster, called "going parabolic." (For example: oil prices last year.)
Do you think that Pres. Obama's political clout is going parabolic (and likely to suffer the same downward plunge after his stimulus policies fail to stimulate)?
Thanks,
Anon
No because Obama is the media's darling. Also, I dont think anybody expects the US to come out of this for at least 4-5 years. So no matter what he will get re-elected.
I just wish he would go back to the Clinton school of tax and spend, instead of spend and spend.
Over the last 25 years we only had 5 years with a surplus - all under Clinton.
We really need to increase taxes on the wealthy right now.
We really need to increase taxes on the wealthy right now
To what end? Out of Envy, To Bloat the government even more than it already is??
Quite the opposite is needed IMO:
Taxes must be decreased significantly so *all* working people can afford to pay their debts back and their bills even though their salary will shrink!
Government need to shrink to pay for it - the useless "homie sekrety" can go first!!
Hmm. It's been a couple of weeks since I asked about Pres. Obama's popularity going parabolic in the comment above. Judging from the ire I'm starting to sense over several nominee's inability to pay taxes, his non-stimulus stimulus bill, and his bizarre foreign policy decisions -- I think he did go parabolic, and is now on the downward slope.
Anon
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