DOW Down 316

[cjh]

Has it hit 5000 yet?

 

[Que]

Has it hit 5000 yet?

Adjusted for the inflated money supply, or no?

 

[RobDownSouth]

Ready to admit you were absolutely wrong on this prediction? Or are you, like Gunny Pantload, subject to the Marine Corps Code of Honor that prohibits you from admitting error?



The revision was upward to 4.2%.

Whar is Queerbait™? WHAR?

 

[Sean Renaud]

So is QE over officially now and how big a correction are we expecting?

 

[Que]

I am delighted with the economic news. Just shocked at the coincidence that it is once again exactly in sync with the election cycle some good news magically appears.

I hope more good news is reported next quarter and the quarter after the election.

Put 15-20 of those kind of quarters together and we will be enjoying a Reagen style recovery.

 

[RobDownSouth]

I am delighted with the economic news. Just shocked at the coincidence that it is once again exactly in sync with the election cycle some good news magically appears.

I hope more good news is reported next quarter and the quarter after the election.

Put 15-20 of those kind of quarters together and we will be enjoying a Reagen style recovery.

Gonna man up to your failed prediction, Fruit Booty?

Or are you gonna continue to go "Full Vettepussy" and pretend like you never said what you said? Hmmmm?

 

[Que]

So is QE over officially now and how big a correction are we expecting?

No..it is being tapered down though I think.

Aside and apart from QE there is (not this administration specific, mind you) still massive government intervention in markets artificially propping them up such as that is working.

Banks can still borrow at zero% and then buy treasury bills with it and pocket the difference to pad their bottom lines.

The frauds that are fannie and freddie continue to lumber along creating mortgage funds out of thin air that otherwise would not exist.

There was a sharp re-thinking of the mortgage approval process with disastrous results...it has been eased again. I have no idea the particulars, I have been out of that loop a long while now. I know intimately the details that caused the last crash...no need to know what exactly they will fuck up to cause the next one.

 

[RobDownSouth]

Down about 700 points from its high a couple of weeks ago.

Still up 2000 over the past 12 months or so.

 

[RobDownSouth]

When cornered, fringe right whackadoodles routinely splutter "but...but...Fannie and Freddie!"

 

[Que]

Gonna man up to your failed prediction, Fruit Booty?

Or are you gonna continue to go "Full Vettepussy" and pretend like you never said what you said? Hmmmm?

Just did.

You really are desperate for negative attention when people don't bother with you, aren't you?

 

[rosco rathbone]

When cornered, fringe right whackadoodles routinely splutter "but...but...Fannie and Freddie!"

Time to bump that hyperinflation thread.

 

[Sean Renaud]

No..it is being tapered down though I think.

Aside and apart from QE there is (not this administration specific, mind you) still massive government intervention in markets artificially propping them up such as that is working.

Banks can still borrow at zero% and then buy treasury bills with it and pocket the difference to pad their bottom lines.

The frauds that are fannie and freddie continue to lumber along creating mortgage funds out of thin air that otherwise would not exist.

There was a sharp re-thinking of the mortgage approval process with disastrous results...it has been eased again. I have no idea the particulars, I have been out of that loop a long while now. I know intimately the details that caused the last crash...no need to know what exactly they will fuck up to cause the next one.

Well which is it, is it ending in October or being tapered cus we've been tapering for a while so that's not news worthy of discussion.

I'm aware the government is at work in the economy. Ultimately they are supposed to be, the question is about how much and how, not really if. I'm not a huge fan of zero % interest but I understand that it needed to be done to keep the damn ship up for a while.

Fannie and Freddy seem to be a scapegoat not an actual threat to the universe.

There will be another crash, as long as we have capitalism there will be crashes. That being said I'd like to if possible avoid some of the ones that we know the locations of.

 

[Que]

How can they be the scapegoat when they have escaped all scrutiny and all consequences? They've been given more money to bail out the disaster they caused.

~shrug~

Makes no nevermind to me. They've gotten away with what they did. The officers haven't been asked to give back those multi million dollar bonuses.

Besides, I made quite a bit of money for my mostly honest role in their little scam. I could easily do so again.

Maybe you're right it's all nothing. Maybe if they do the exact same thing that they did before it'll turn out completely different this time.

 

[Sean Renaud]

Who from the top echelon of society took any direct consequences? The fact that they managed to keep their bonuses is par for the course. Annoying? Sure. But how can they be the scapegoat? You're sitting here blaming them for something that in most cases they were several stages removed from and so do lots of people. It's been well done.

I didn't say it's all nothing, but the economy is incredibly fickle. Maybe they will try the exact same thing and get different results. However truth be told I'd rather not find out. I much prefer the route where we make it if not impossible certainly more difficult for them to recreate the same circumstances.

 

[RobDownSouth]

Well which is it, is it ending in October or being tapered cus we've been tapering for a while so that's not news worthy of discussion.

I'm aware the government is at work in the economy. Ultimately they are supposed to be, the question is about how much and how, not really if. I'm not a huge fan of zero % interest but I understand that it needed to be done to keep the damn ship up for a while.

Fannie and Freddy seem to be a scapegoat not an actual threat to the universe.

There will be another crash, as long as we have capitalism there will be crashes. That being said I'd like to if possible avoid some of the ones that we know the locations of.

Washington Post said Fed announced in July that QE would be done by October 1st

 

[Sean Renaud]

Washington Post said Fed announced in July that QE would be done by October 1st

Seeing how that date is a mere five days away I was hoping for something more up to date to tell us if the plan is still go or if it was abandoned.

 

[RobDownSouth]

Seeing how that date is a mere five days away I was hoping for something more up to date to tell us if the plan is still go or if it was abandoned.

Forbes was spluttering three days ago how this means a return to the bad old days of inflation, which I'm sure will rile up the Boys in the Bunker something fierce (they typically have a collective, reflexive pants-shitting at the mention of inflation).

 

[RobDownSouth]

one steamin' order of crow for the fruit booty!

Whar is Queerbait™? WHAR?

Oh my, yet another revision to the Q2 figures.....Originally 4.0%, then 4.2%, now the final growth figures are in, and the economy grew at a blistering 4.6% rate


Noted fruit booty prognositcator Queerbait™ swore that numbers were always, I repeat ALWAYS revised DOWNWARD after the initial release.

Once again, I ask you, WHAR IS QUEERBAIT™??

 

[RobDownSouth]

Keep in mind the "growth' in GDP is a rolling accounting trick. Over "estimate" it this quarter, revise it (always downward) to no headlines later, and use the revised lowered GDP number from last month to make up this months over-estimate.

We are crawling out of basement, but only just.

No worries, the "best and brightest," completely uneducated, teenage gang members from Central America will soon be given Pell Grants to add to the glut of college graduates and in just a few more years, things are gonna be coming up roses I tell you.

Hey Queerbait! Guess what? Final revised GDP numbers for the third quarter were released today!

And just like second quarter numbers, they were revised UPWARD.

Repeat, UPWARD....AGAIN. From 3.5% to a very healthy 3.9%

Two quarters in a row.

For those keepin' score, this means little query has been in error for the past six months.

What a shame he cannot bring himself to admit error. I realize a guy like query (who refers to himself as "Lit's Smartest Poster") has an image to maintain, but it's still amusing that he's disappeared completely when "inconvenient facts" make an appearance.

Better luck next smear, buddy!

 

[PayDay]

Wipes out all of this years gains.

Don't forget the USA is also back in Afghanistan.