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Old 02-15-2011, 01:57 AM   #1
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Its a slow train wreck coming and we all know its going to happen,

http://www.bloomberg.com/news/2011-02-14/geithner-quietly-tells-obama-debt-to-gnp-cost-poised-to-increase-to-record.html
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Old 02-15-2011, 04:00 AM   #2
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it's good news / bad news...

the cost of borrowing is going up (bad news), the economy is getting better (good news). hopefully it's time to address the problem (deficits / jobs). but since we're gearing up for election season, i doubt that much progress will be made by either republicans or democrats...

(hey this was my least partisan post in a while!)

how about the news that the government wants to wind down fannie / freddie? that should be good news for (most) of the people on this board since they hate fannie / freddie.

(aww, some partisanship there)

i actually like the plan - wind down fannie / freddie and implement a mortgage program like the FDIC that bank's pay into to insure mortgages.
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Old 02-15-2011, 04:32 AM   #3
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Good news / bad news...that's like getting a $5 raise and the Feds tax you $6. Fannie / Freddie is another Government plan gone bad...they should auction off the whole system.
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Old 02-15-2011, 04:53 AM   #4
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Here is a question for you that I ask my students:

Who owns the Federal Reserve?

Now, please don't Google for the answer, that would be cheating!
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Old 02-15-2011, 04:53 AM   #5
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"the economy is getting better (good news)."

Based on what?
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Old 02-15-2011, 04:55 AM   #6
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Oh, and that inflation thing?

http://www.cnbc.com/id/41575599
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Old 02-15-2011, 05:01 AM   #7
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I won't grow up,. I won't grow up!

http://www.nationalreview.com/corner/259706/budget-yuval-levin
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Old 02-15-2011, 05:03 AM   #8
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Even the Wash Post sees this charade

http://www.washingtonpost.com/wp-dyn/content/article/2011/02/15/AR2011021500055.html
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Old 02-15-2011, 07:13 AM   #9
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Quote:
Originally Posted by Brucelee
"the economy is getting better (good news)."

Based on what?
looks like bruce went on a posting-bomb...

based on: factory orders are up, consumers are starting to spend again, GDP is up, hourly earnings are up...

not to say it's all roses of course. home prices are still abysmal, unemployment is still too high, deficit is insane...
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Old 02-15-2011, 07:16 AM   #10
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Quote:
Originally Posted by tonycarreon
looks like bruce went on a posting-bomb...

based on: factory orders are up, consumers are starting to spend again, GDP is up, hourly earnings are up...

GDP numbers have been ginned up. Employment overall is flat to down. Consumers are spending because the Fed is inflating. Ditto on the wages.

That said, if you want to wager on what this looks like around election time, I am game.
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Old 02-15-2011, 07:16 AM   #11
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It will be interesting when the Fed completes QE2 and employment is still flat. Then what?
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Old 02-15-2011, 08:07 PM   #12
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Quote:
Originally Posted by Brucelee
It will be interesting when the Fed completes QE2 and employment is still flat. Then what?
Bernanke caught a lot of flack for QE2, which runs out in June. This year's deficit was just revised up to $1.6T. The remainder of QE2 is nowhere near enough. How can we avoid QE3?
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Old 02-16-2011, 04:10 AM   #13
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I know of no way to "stop" the Fed, short of threatening to scrap it and come up with a different way to regulate banks and money.

I don't see that happening.

Too bad.

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