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lunar 10.01.2009 12:39

FedUp1 wrote:
I'm glad to see Rubin go and hope he keeps his tentacles out of the Obama administration.


1/10/2009 5:36:00 AM
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Gatsby1 wrote:
So waht's Rubin going to do now? Look for another financial institution to screw up and get paid for it?


1/10/2009 5:14:26 AM
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OFFWEGO wrote:
Maybe they should get rid of a few more people they paid $115M over 10 years in the spirit of "getting fit!"

http://www.washingtonpost.com/wp-dy...9010903708.html

...da kann man wirklich nur hoffen, dass Obama ihn nicht auch noch an Land zieht :rolleyes:schwitz

lunar 12.01.2009 09:52

Reform plan raises fears of Bank secrecy

The Bank of England will be able to print extra money without having legally to declare it under new plans which will heighten fears that the Government will secretly pump extra cash into the economy.

By Edmund Conway, Economics Editor
Last Updated: 7:01AM GMT 12 Jan 2009


The Bank of England will be able to print extra money


The Government is set to throw out the 165-year old law that obliges the Bank to publish a weekly account of its balance sheet – a move that will allow it theoretically to embark covertly on so-called quantitative easing. The Banking Bill, which is currently passing through Parliament, abolishes a key section of the law laid down by Robert Peel's Government in 1844 which originally granted the Bank the sole right to print UK money......

full story: http://www.telegraph.co.uk/finance/...nk-secrecy.html

.....was sich die Staaten so alles leisten - aber wehe der kleine Bürger versucht auch mal im kleinen Rahmen ein paar Vorteile zu ergattern :rolleyes:mad

lunar 12.01.2009 10:46

Künftiger Präsident zum Anfassen – Obama macht Halt in Wurstbude

Er ist der absolute Star der internationalen Politik und er tut alles, dass das so bleibt: Beim Besuch in einem Washingtoner Imbiss zeigte sich Barack Obama sehr volksnah – den Sicherheitsleuten war sichtlich unwohl.



Seinen Sicherheitsleuten muss der Atem gestockt haben, als Obama seinen Tross gestern Abend auf einen Abstecher ins Washingtoner Restaurant Ben's Chili Bowl befehligte.

Süssen Tee und die Spezialität des Hauses

Mit Bürgermeister Adrian Fenty im Schlepptau betrat Obama das Restaurant und bestellte gesüssten Tee und die Spezialität des Hauses, ein chilischarfes, halbgeräuchertes Würstchen. Dann scherzte er mit den überraschten Gästen und liess sich mit ihnen fotografieren......




ganzer Artikel: http://www.tagesanzeiger.ch/panoram.../story/15191139

lunar 12.01.2009 14:34

For The Record
2008, 1929 and 1873 Bubbles


Bob Hoye snippet
Institutional Advisors
Jan 12, 2009


The establishment promised that nothing could go wrong.
"The truth is that Fed governors, together with their crack staff of Ph.D economists and market analysts, are as close to an economic dream team as we are ever likely to see."
-Gregory Mankiw, Harvard economist and textbook author,
New York Times, December 23, 2007


"So Congress tried to make sure it would never happen again by creating a system of regulations and guarantees that provided a safety net for the financial system."
-Paul Krugman, explaining interventionist measures installed after the 1929 debacle.
New York Times, March 21, 2008


But it did!
Scott Stantis, Alabama, The Birmingham News


CRASHES PERCENTAGE CHANGES
(DJIA CLOSE)
Jan 9, 2009
-Bob
Hoye
Institutional Advisors - http://www.321gold.com/editorials/hoye/hoye011209.html

lunar 12.01.2009 15:07

bei DU gesehen :) :rolleyes

lunar 12.01.2009 15:56

GLOBAL ANTI-AMERICAN/ZIONIST DEMONSTRATIONS GROW BIGGER

Posted in war and peace by emsnews on January 12th, 2009
Really
quick here, in the US and Israel, there has been a huge propaganda push
to make hay over a video that showed a doctor and a father trying to
revive a dead boy. But it turns out, the Israelis killed this child and
this was a display put on for the media to show the process of horror
in Gaza. So it was only PARTIALLY real? The boy WAS killed by Israel
Jews. That is the hard fact that hasn’t changed. And still, the IDF and
Israel’s ruling Jews won’t let reporters in? Talk about Naziism!


If they want real reporting, they damn well better let reporters in. And
Jewish propaganda aside, the bizarre world picture of this small
police/Spartan state is not a nice place but a horror show, 24/7, year
in and year out. I saw Israeli Jewish supporters yap about how Muslims
on the West Bank aren’t fighting. It doesn’t take much to find videos
of Jewish suppression of Muslims on the West Bank and how they kill
innocent civilians and terrorize everyone.


http://emsnews2.wordpress.com/2009/...ns-grow-bigger/

Idfnadesk Doesn't Want You to See :(:mad



lunar 12.01.2009 16:08


THE LONG GOODBYE

.....ja - viel zu lange
:rolleyes

lunar 12.01.2009 19:56

Sunday, January 11, 2009


Chinese banks lend 740 bln yuan in December

by Eric deCarbonnel
Now this is scary. The guardian reports that Chinese banks lend 740 bln yuan in December.[/font]

China banks lend 740 bln yuan in December
Reuters, Monday January 12 2009

BEIJING, Jan 12 (Reuters) - China's banks granted a whopping 740 billion yuan ($108.3 billion) in new local-currency loans in December, the biggest monthly increase since January, the Shanghai Securities News reported on Monday.

The surge, up from 476.9 billion yuan in November and just 48.5 billion yuan in December 2007, shows that banks heeded the government's call to ramp up lending as part of its strategy for stimulating the economy, the official paper said.

As a result of the burst of lending last month, outstanding yuan loans at the end of 2008 exceeded 30 trillion yuan, up 19 percent from a year earlier, the paper said.

Forecasts of economists polled by Reuters centre on a 16.5 percent rise in yuan loans from a year earlier. [ID:nPEK32088]

Citing unidentified authoritative sources, the Shanghai Securities News said new yuan loans in 2008 totalled 4.88 trillion yuan, up from 3.63 trillion yuan in 2007.

Loan growth in December 2007 was particularly weak because the central bank had clamped down hard on credit in an effort to slow investment growth and cap inflation.

The reported increase in December would be second only to the jump of 803.6 billion yuan in January when banks rushed to book new loans to take advantage of the opening of new lending quotas.

To support the government's efforts to boost the flagging economy, the central bank scrapped lending limits in early November and has cut interest rates five times since mid-September.

It has also lowered banks' required reserves four times over the same period to encourage banks to help finance a two-year, 4 trillion yuan ($585 billion) stimulus package aimed at bolstering growth dented by the global financial crisis. ($1=6.835 Yuan) (Reporting by Langi Chiang; Editing by Alan Wheatley and Ken Wills)

[font='Arial','sans-serif']My reaction:[/font][font='Arial','sans-serif'] Wow. Chinese banks have certainly heeded the government's call to ramp up lending.

I will go into it in detail in my next entry, but for now consider the following:

1) China's economy shrinking as exports fall (which means the money supply is growing waaay faster than the economy)
2) Rampant money printing due to 40 billion trade surplus.
3) China has halted its sterilization efforts (selling bills to mop up all that printed cash)
4) Banks are flooding the economy with new loans[/font]
, a[font='Arial','sans-serif']s China's central bank lifts restrictions on lending.
5) The Chinese money supply is moving at a crawl due to overblown "deflation fears".
6) The is very little actual debt deflation happening (Chinese money supply is not shrinking due to a gigantic pile of bad debt, like in the US)

Conclusion: China is setting itself up for hyperinflation in the very near future. At that point, it will be confronted with a choice:

A) Watch millions of Chinese starve as hyperinflation wipes out their life savings.
B) Drop the dollar peg and aggressively sell off its dollar holdings to restore stability to its currency.

Which one do you think China will choose? [/font]




Posted by Eric deCarbonnel at 10:24 PM 3

lunar 12.01.2009 20:56



Bush asks Congress to release $350B...
Holds final White House news conference...
'Good, strong record'...
Cites disappointments, mistakes...
Defends response to Katrina...
Says Iran, NKorea remain dangerous...
'I have had my time in the Klieg lights'...
Obama 'will do what he thinks is right'...
'I chucked aside my free-market principles'...
Barnes: Ten things Bush got right...

....:winke

lunar 13.01.2009 08:58

NEUE OFFENSIVE

Armee und Hamas kämpfen erbittert um Gaza

Israel weitet seine Offensive in Gaza-Stadt drastisch aus: Panzer und Bodentruppen rücken in die Vororte vor, die Luftwaffe bombardiert mehr als 60 Ziele. Hamas-Kämpfer schießen mit Raketen auf die Soldaten. Beobachter sprechen von der schlimmsten Nacht seit Beginn des Krieges. mehr... [ Video | Forum ]




*


International: 13. Januar 2009, 07:16

Kämpfe um Gaza-Stadt nehmen zu

Israels Truppen und Panzer in den Vorstädten - Ban reist nach Nahost

Ungeachtet aller Bemühungen um eine Waffenruhe haben am Morgen die Kämpfe und israelische Bombenangriffe um Gaza-Stadt an Heftigkeit zugenommen. Nach Medienangaben haben Israels Truppen die Stadt von allen Seiten eingeschlossen. Uno-Generalsekretär Ban will in die Region reisen. ...

Gaza: Zögern vor dem Strassenkampf



hört wohl nie auf :(:mad

lunar 13.01.2009 09:09

Mon 12 Jan 2009

Madoff Remains Free On Bail

Posted by alyx under madoff
[4] Comments
:bad

Schadenfreude fans everywhere, feel free to let out a little sigh of disappointment - Bernie Madoff is on his way back to the penthouse right about now. Apparently it takes more than attempting to send a million dollars worth of “sentimental” Cartier pieces to your sister - a violation of a court order freezing your assets, in legal parlance - to get your bail revoked these days.

Madoff’s lawyers had countered that he did not represent a flight risk (because he has probably pissed off everyone who would have been willing to help him abscond) and that he did not represent a danger to the community, as it is in fact more likely it is the other way around. He is now required to give the government an inventory of his family jewels, which will be examined regularly by private security.

Shadenfreude auf deutsch :rolleyes:schwitz

haha…butters

Filed under: Chateeos @ 2:49 pm
you’re spot on abour Madoff not being in jail. When I was home visiting E_E, I was reading the local paper. There was a writeup about a man that was a two-time convicted felon that had stolen 3 pizzas and an order of breadsticks. What he did was wrong, and he got caught. He was sentenced by the judge for 3 years in prison- for 3 pizzas and breadsticks.

Madoff steals $50T and he has the gall to push cameramen around and act like a high class countryclub elitist and most likely will never recieve the punishment he so deserves. Why can’t the same hardnose judge in middle America get a case like Madoff’s? The same judge would have given Madoff the firing squad and imprisoned his sons for life. What gives?

:bad

lunar 13.01.2009 16:23


Market Analysis without the Wall Street Hope and Hype


....immer wieder gut :supi trotz der ziemlich mühsamen Tonqualität :cool

January 9: http://www.cyclesman.info/Interviews/JohnTony010909.mp3

....PPT wird diskutiert und der Einfluss auf Stimmung, Zyklen und natürlich die "ups" in den Märkten :rolleyes und allgemein über den Markt, Earnings usw.
und sehr interessant da ohne Bonusse wollen die Macher wenigstens jetzt eine gute Falle machen und die Märkte ev. hoch bringen bis zum Ende des 1. Quartals - Gold should have another move down - may be :rolleyes :nw

http://www.cyclesman.info/Articles.htm

lunar 13.01.2009 18:18

Ist der Euro am Ende?

Von Philipp Löpfe. // Aktualisiert vor 37 Minuten

Die Ratingagenturen stufen Spanien herab, die finanzielle Lage Irlands ist bedrohlich, Italiens Schulden sind gigantisch und Griechenland ist de facto bankrott. 2009 wird zum Stresstest für die Einheitswährung.


......Die Kriterien sind längst schon MakulaturDie Maastricht-Kriterien sind längst Makulatur. Selbst die EU-Kernländer Frankreich und Deutschland konnten sie 2004 und 2005 nicht einhalten. Griechenland hat nachweislich gelogen, um eine angebliche Ausgabendisziplin vorzutäuschen. Italiens Staatsschulden liegen derzeit bei 104 Prozent des Bruttoinlandprodukts und das laufende Defizit Portugals beträgt 12 Prozent. Und das ist nur der Anfang. Die sich immer weiter verschärfende Krise wird in den Staatskassen 2009 noch tiefere Spuren hinterlassen......

---> 23 KOMMENTARE
ganzer Artikel: http://www.tagesanzeiger.ch/wirtsch.../story/27686249

:gruebel

lunar 13.01.2009 21:17

Tue 13 Jan 2009

Free Lunch - Bandit Mask Optional

Posted by alyx under all ur bankz
[3] Comments


Joshua Brown emailed me this post from his blog, which is a hot tip for you NYC-ers who want a free lunch:
True story…I’m at Cafe Metro on 46th and Lex grabbing some lunch on a recent weekday afternoon. The place is packed with lines of 5 or 6 deep at the salad counter, the made-to-order pasta kiosk and especially at the cash register.

In front of me is a well-dressed, middle-aged man with graying hair and glasses in a conservative navy blue suit… Well, when Blue Suit stepped up to the register and placed his tray in front of the cashier, rather than take out his wallet or a $20 bill or a credit card or anything that resembled the currency us mere mortals are forced to exchange for goods and services, he simply parted his lips and said the magic word:

“CITIGROUP”

I kid you not, readers, he literally uttered the word “Citigroup” and his quesadilla was packed in a bag with plastic utensils and napkins, and he was out the door. No one asked him for ID or made a note anywhere of what he was eating that day. He just said “Citigroup” and bounced. I was on line to pay behind him with my own chicken quesadilla and a bottle of Diet Pepsi…cost to me as a non-Citigroup employee: $9.85 plus tax.

Sure, if called on it, Citi would hem and haw - comping their employees for lunch is important for morale, for retention, whatever. We’ve heard it before, and I don’t wanna go through it again. So, depending on your geographical location, you can either a) be all outraged that a firm at the trough for government cash is still coughing up for lunch for its rank and file, becaues that’s really all you can do; or b) go down there and try to get a sandwich on Citi’s account.

If anyone asks any questions, whip out a bandit mask and ask why they didn’t recognize you immediately.




:rolleyes ....ich kann's ja mal in Zürich mit UBS probieren :gruebel

lunar 13.01.2009 22:08

Source: Geithner failed to pay personal taxes

Treasury nominee also to discuss housekeeper's immigration status


updated 3:41 p.m. ET Jan. 13, 2009

WASHINGTON - Treasury secretary designee Timothy Geithner is meeting with senators to discuss why he failed to pay personal taxes and check the immigration status of a housekeeper.

An official with President-elect Barack Obama's transition office says Geithner answered senators' questions during a meeting he requested Tuesday. The person requested anonymity because the source is not authorized to speak publicly on Geithner's situation.

Obama's transition team was expected to release a statement about the issue later Tuesday.

http://www.msnbc.msn.com/id/28642237/

Pack :mad

lunar 14.01.2009 09:36

+++ EILMELDUNG +++

Deutsche Wirtschaft bricht 2008 ein

Die globale Finanz- und Wirtschaftskrise trifft die deutsche Wirtschaft schwer: Das Wachstum hat sich im Jahr 2008 fast halbiert. Das Bruttoinlandsprodukt legte nur um 1,3 Prozent zu - Experten hatten einen stärkeren Anstieg erwartet. mehr... [ Forum ]




lunar 14.01.2009 09:56

13 January 2009

Corporate and US Treasury Yields from 1926 to 1934


The Bonds held up much better than one might have expected, and the spreads between corporates and longer dated Treasuries was remarkably uniform.

Bear in mind that these are yields on this chart, and the value of the underlying bonds moves in the opposite direction to the yield.







Posted by Jesse at 6:45 PM :verbeug

lunar 14.01.2009 10:05

Tue 13 Jan 2009

Seeking Raoul

Posted by alyx under breaking news
[4] Comments


It’s disappearance week. Breaking news: the US has declared AWOL ex-UBS exec Raoul Weil a fugitive. Weil was indicted in U.S. v. Weil, 08-60322, U.S. District Court for the Southern District of Florida for tax evasion and conspiracy to defraud that allegedly lined UBS’ pockets quite nicely.Weil allegedly referred to his offshore banking business as “toxic waste,” which makes sense only in rough comparison to how mafiosos will allegedly tell you they are in “sanitation.”

UBS, a firm believer in the stop-snitching manifesto, issued a solid “no comment” on the matter.


He’s a Swiss citizen, so, uh, good luck getting him extradited to the States even if you do find him. And if you do find him, please make him pay his fines in chocolate. Source, CNBC breaking.

...die UBS gerät immer tiefer in den Sumpf :rolleyes

FOR IMMEDIATE RELEASE
Wednesday, November 12, 2008
WWW.USDOJ.GOV
TAX
(202) 514-2007
TDD (202) 514-1888
Swiss Bank Executive Charged with Aiding U.S. Taxpayers Evade Income Tax

Approximately $20 Billion in U.S. Assets Allegedly Concealed from IRS

WASHINGTON – Raoul Weil, a senior executive of a large Swiss bank with offices worldwide, including the United States, has been charged with conspiring with other executives, managers, private bankers and clients of the banking firm to defraud the United States, the Justice Department and Internal Revenue Service (IRS) announced today......

http://www.usdoj.gov/opa/pr/2008/No...8-tax-1001.html

lunar 14.01.2009 17:23

:rolleyes

lunar 14.01.2009 17:28

ozymandius (1000+ posts) Wed Jan-14-09 06:27 AM
Response to Reply #8 11. "Bernanke an Expert on the Great Depression??" (fresh and scorching analysis) OOH! It's good!

One of the reasons I am partial to Australians is that they are critical thinkers, not easily cowed by authority or conventional wisdom.

In the US, one of the reasons that Fed chair Ben Bernanke is given so much deference (aside from the fact that we treat people in positions of power with kid gloves) is that he is regarded as an expert on the Great Depression, and has also studied Japan's Lost Decade.

Steve Keen, author of Debunking Economics and professor at the University of Western Sydney, has taken a look at some of Bernanke's writings on the Great Depression and finds them wanting, Serious wanting. I've read some of Bernanke's work on Jaoan, and quite a few of his speeches, and was bothered by some of the assumptions and omissions. Keen tears into Bernanke with a gusto that I find refreshing.

....

The most glaring problem on first glance is that, despite Bernanke’s claim in Chapter One “THE MACROECONOMICS OF THE GREAT DEPRESSION: A Comparative Approach” that he will survey “our current understanding of the Great Depression”, there is only a brief, twisted reference to Irving Fisher’s Debt Deflation Theory of Great Depressions, and no discussion at all of Hyman Minsky’s contemporary Financial Instability Hypothesis.

While he does discuss Fisher’s theory, he provides only a parody of it–in which he nonetheless notes that Fisher’s policy advice was influential:
Fisher envisioned a dynamic process in which falling asset and commodity prices created pressure on nominal debtors, forcing them into distress sales of assets, which in turn led to further price declines and financial difficulties. His diagnosis led him to urge President Roosevelt to subordinate exchange-rate considerations to the need for reflation, advice that (ultimately) FDR followed.
He then readily dismisses Fisher’s theory, for reasons that are very instructive:
Fisher’s idea was less influential in academic circles, though, because of the counterargument that debt-deflation represented no more than a redistribution from one group (debtors) to another (creditors). Absent implausibly large differences in marginal spending propensities among the groups, it was suggested, pure redistributions should have no significant macroeconomic effects. ” (Bernanke 1995, p. 17)

....

This is a perfect example of the old (and very apt!) joke that an economist is someone who, having heard that something works in practice, then ripostes “Ah! But does it work in theory?”.

It is also–I’m sorry, there’s just no other word for it–mind-numbingly stupid. A debt-deflation transfers income from debtors to creditors? From, um, people who default on their mortgages to the people who own the mortgage-backed securities, or the banks?

Well then, put your hands up, all those creditors who now feel substantially better off courtesy of our contemporary debt-deflation…

.....

Do I have to spell out the problem here? Only to neoclassical economists, I expect: during a debt-deflation, debtors don’t pay the interest on the debt–they go bankrupt. So debtors lose their assets to the creditors, and the creditors get less–losing both their interest payments and large slabs of their principal, and getting no or drastically devalued assets in return. Nobody feels better off during a debt-deflation (apart from those who have accumulated lots of cash beforehand). Both debtors and creditors feel and are poorer, and the problem of non-payment of interest and non-repayment of principal often makes creditors comparatively worse off than debtors (just ask any of Bernie Madoff’s ex-clients).

lunar 14.01.2009 18:40

Citi and JPM Move Their Earnings Reports to This Week


On Tuesday J. P. Morgan surprised the market by moving its earnings release from January 21 to tomorrow, January 15th, the day before the options expiration.

Today Citi announced that it is moving its own earnings release to this week, on Friday.

Is there a significance to this?

Perhaps. One likely reason is that they did not wish to put their earnings out at the same time as an historic event with the inauguration of Barack Obama on Tuesday January 20, with what is likely to be considered bad news.

There is also a likelihood that Citi and JPM wished to 'throw their cards on the table' ahead of the initial decision by Congress with regard to the disposition of TARP funds which is likely to occur next week. Economic blackmail is de rigeur for Wall Street when it is back on its heels.

Whatever does happen, we are certainly in for an interesting month of January.


Citi Fourth Quarter and Full-Year 2008 Earnings Review - Revised Date


NEW YORK -- (Business Wire) --

Citi announced it will review fourth quarter and full-year 2008 results on Friday, January 16, 2009, at 8:00 AM (EST), instead of January 22. Fourth quarter results will be issued via press release at approximately 6:00 AM (EST) on January 16, 2009.

A live webcast of the presentation, as well as financial results and presentation materials, will be available at http://www.citigroup.com/citigroup/fin. A replay of the webcast will be available at http://www.citigroup.com/citigroup/fin/pres.htm.




Posted by Jesse at 10:03 AM :verbeug

lunar 14.01.2009 18:41

14 January 2009

ECB to Consider Rate Cut at its Thursday Meeting


The European Central Bank will be meeting tomorrow to consider a change in the Euro interest rate target.

The market widely expects a 50 basis point cut from 2.5% to 2.0%, which is still at a substantial premium to the US interest rate range of 0 to .25%.

Yesterday rumours of a deeper 100 basis point rate cut swept the trading desks and roiled the Euro/Dollar cross taking it down below support at 1.32. This provided a lift to the euro-heavy Dollar DX Index.

There is key support for the euro at 1.30. If Trichet holds the line at 50 basis points and does not signal rate cuts commensurate with the aggressive quantitative easing of the US Fed we would expect the euro to a few more sparks for the week, in addition to the JPM and Citi earnings reports.


Wall Street Journal Europe
ECB Expected to Cut Rates as Inflation Worries Ease

By NINA KOEPPEN
JANUARY 13, 2009, 6:15 P.M.

FRANKFURT -- Most economists say they believe the European Central Bank will continue with its monetary easing campaign and cut interest rates by half a percentage point Thursday to stem the risk of a deepening recession in the euro zone, although policy makers have given no clear signal about their decision.

Thirty-four of 42 private-sector banks polled by Dow Jones Newswires expect the ECB to cut the key policy rate to 2% from 2.5% currently. The ECB has already lowered interest rates by 175 basis points ...




Posted by Jesse at 10:27 AM :verbeug

lunar 14.01.2009 19:20

January 14, 2009 -- Updated 1759 GMT
updated 51 minutes ago

Israel: Media restrictions 'a lesson learned'

Israel's restrictions preventing international journalists from entering Gaza are a change in tactics by its military to avoid interference in its operations, an Israeli government spokesman says. But international media groups say it is unacceptable and puts "Israel in the company of a handful of regimes around the world which regularly keep journalists from doing their jobs."
.....for journalists, it's about finding a balance in the story -- a difficult task when they are unable to cover all the angles..... full story

.....ob es besser ist nur von Al Jazeerah zu hören/lesen/sehen :confused:rolleyes


http://www.aljazeerah.info/


lunar 14.01.2009 21:35

14 January 2009

The Last Time the Fed Devalued the Dollar to Save the Banks


We dipped once again into the Federal Reserve Bulletin Publication from June, 1934 to take a closer look at the growth of the monetary base, and found an interesting graphic that shows the accounting for the April 1933 Gold Act and the subsequent result on Bank Reserves in the Federal Reserve System.

As you will recall, the Gold Act, or more properly Executive Order 6102 of April 5, 1933, required Americans to surrender their gold coinage and certificates to the Federal Reserve Banks by May 1, 1933. There were no prosecutions for non-compliance except one benchmark case which was brought voluntarily by a person who wished to challenge the act in court.

After a substantial portion of the gold was turned in by US citizens and taken from their bank based safe deposit boxes, the government officially devalued the dollar from 20.67 to 35.00 per ounce in the Gold Reserve Act of January 31, 1934.

The proceeds from this devaluation wre used to provide a significant boost to the Federal Reserve member bank positions as shown in the first chart below.

The inflation visited on the American people because of this action helped to take the CPI as it was then measured up 1200 basis points from about -8% to +4% by the end of 1933. To somewhat offset the monetary inflation the Fed also contracted the Monetary Base which served the nascent recovery in the real economy rather poorly and is viewed widely as one of a series of policy errors.

Considering that the actions did little for the employment situation this was painful medicine indeed to those who were dependent on wages.



Fortunately at the same time FDR was initiating the New Deal programs which, despite continual opposition from a Republican minority in Congress, managed to provide a small measure of relief for the 20+% public that was suffering from unemployment and wage stagnation......

full story: http://jessescrossroadscafe.blogspo...ar-to-save.html

lunar 15.01.2009 09:27

2 Anhang/Anhänge
:schwitz.

lunar 15.01.2009 10:24

Apple CEO Jobs backtracks on health, takes leave

Thursday January 15, 12:05 am ET
By Jessica Mintz, AP Technology Writer

Apple CEO Steve Jobs takes medical leave, says health problems `more complex' than he thought SEATTLE (AP) -- Even as Apple Inc. acknowledges that all is not well, the extent of Steve Jobs' health problems remains a closely guarded secret.The Apple chief executive, a cancer survivor, said Wednesday he is taking medical leave until June, a move that sent the company's shares plunging 7 percent.

Apple's chief operating officer, Tim Cook, will take over Jobs' responsibilities while he is on leave, though Jobs said he plans to remain involved in major strategic decisions.

The announcement marks a reversal from just a week ago, when Jobs, 53, tried to assure investors and employees his recent weight loss was caused by an easily treatable hormone deficiency.

"The reason has been a mystery to me and my doctors," Jobs said in a statement last week. Once tests revealed the problem, Jobs said he began a "relatively simple and straightforward" treatment and insisted he would remain at Apple's helm.

But investors weren't reassured. Nor do Jobs' medical issues seem to be quite so simple.

"Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well," Jobs wrote in an e-mail to employees Wednesday. "In addition, during the past week I have learned that my health-related issues are more complex than I originally thought."..

full story: http://biz.yahoo.com/ap/090115/apple_jobs.html

:(:(:(

...dazu ein Video: http://www.cnbc.com/id/15840232?video=999290605&play=1

lunar 15.01.2009 10:32

Wed 14 Jan 2009

Bank Of America Back At The TARP Trough

Posted by alyx under all ur bankz , breaking news
No Comments


So… that deal for Merrill Lynch wasn’t such a sweet one after all? Oh, you don’t say. Ken Lewis and BAC are back at the TARP looking for billions to help deal with the indigestion. Lesson: two days of due diligence does not a good deal make. Lock your lawyers in the file closet for at least three if you want a proper assessment of the liabilities.

Source: CNBC breaking.

schwarze Löcher :rolleyes

lunar 15.01.2009 10:42

14 January 2009

Charts in the Babson Style for Midweek January 14


As a reminder, this Friday January 16 is options expiration.

Also, US markets will be closed on Monday January 19 for the Martin Luther King national holiday.

The markets will be open on Tuesday January 20 which is the Inauguration Day for the incoming President Barack Obama......

lunar 15.01.2009 10:49

International: 15. Januar 2009, 09:56
Um Gaza-Stadt toben heftige Kämpfe

Israel setzt Offensive fort – Bemühungen um Waffenstillstand verstärkt

Trotz intensivierter Bemühungen um eine Waffenruhe hat Israel seine Offensive im Gazastreifen fortgesetzt. In der eingekesselten Stadt-Gaza zeugte Maschinengewehrfeuer von Kämpfen zwischen israelischen Soldaten und Hamas-Extremisten. ...

Krieg um Gaza: Spaltet die Araber
Israels Botschafter: «Das Leiden berührt»


:(

lunar 15.01.2009 11:07

Pianist, Poet, prominent – und plötzlich doch noch Werber des Jahres
Im neunten Anlauf klappte es:

Frank Bodin ist von den «Werbewoche »-Lesern zum Werber des

Jahres gewählt worden. Der Preis vervollstädigt eine Sammlung, die mit einem Musikpreis begann.

Von
Angela Barandun Ursprünglich war er Pianist und Komponist, ein bisschen auch Poet. Dann versuchte er sich an einem Jurastudium. Er arbeitete als Regieassistent an der Hamburger Oper und verdiente Geld als freier Texter. Erst mit 30 kam er zur Werbung.
Kurz vor der Geburt seiner Zwillinge, getrieben von der bevorstehenden finanziellen Verantwortung, liess er sich von einer Agentur anstellen.


:supi

BILD PD

Eine von Bodins prämierten Kampagnen: Stop-Aids-Werbung für den Bund.

http://epaper2.tagesanzeiger.ch/ee/...hp?pSetup=tages

lunar 15.01.2009 14:24

1 Anhang/Anhänge
Whitney On Financials
Banks may need another round of fresh capital this year, says Meredith Whitney, Oppenheimer & Co. executive director of research

Last Update: Wed. Jan. 14 2009

http://www.cnbc.com/id/15840232?video=998371484&play=1

...the stocks go lower before they go higher :rolleyes

lunar 15.01.2009 14:46

...mal was anderes von CNBC :supi


Current DateTime: 05:30:14 15 Jan 2009
LinksList Documentid: 23937472

A Gallery of Medical Marijuana
Positions on the medical use of marijuana vary, but thousands of patients suffering from cancer, AIDS, and other diseases claim marijuana provides them relief from devastating symptoms such as intractable nausea, vomiting. We asked High Times Cultivation Editor Danny Danko if he could help us put a cost on this relief and what types of pain they ease.

...die Preise :rolleyes:schwitz

lunar 15.01.2009 16:13

GAZA- KRIEG

Israel entschuldigt sich für Angriff auf Uno- Zentrale

zur Fotostrecke

In Gaza-Stadt schlagen Flammen aus dem Uno-Hauptquartier, das Gebäude wurde bei einem Angriff in Brand geschossen. Israels Verteidigungsminister Barak spricht jetzt von einem "schweren Fehler" und entschuldigt sich bei den Vereinten Nationen. mehr... [ Forum ]




...ja, ja wie all die die miesen Politiker und Betrüger --> sorry und das war's :bad

lunar 15.01.2009 16:44

Roubini: Let me count the ways it was a sucker’s rally

Posted by Izabella Kaminska on Jan 15 11:03. Here it comes…. the latest bit of insight from ‘Dr. Doom,’ a.k.a Nouriel Roubini.

And, of course, he was right again — it’s all been a sucker’s rally:

I have been predicting for a while that the most recent bear market sucker’s rally would lose its steam and — like the previous bear market rallies in the last 18 months — US and global equities prices would head again towards new lows. Let me now explain why…

Firstly, let’s not forget, Roubini has always said we are facing the worst US recession in the last 50 years and the worst synchronised global recession in decades.

But to the nitty gritty of what every investor should have recognised in November, December and early January - d’uh, it was the much worse than expected macro news. As he explains:
The drumbeat of terrible — and worse than expected - macro news and earnings news and financial news has finally taken a toll on the delusional market belief that the worst was over for financial markets and for equity markets and that the US and global economy would recover in the second half of 2009.

So equity prices have already reversed more than half of their most recent bear market rally as the lousy macro news have finally shocked in the last week the wishful thinkers. Indeed, the retail sales figures published today confirmed a shopped-out, saving-less and debt-burdened US consumer is now faltering as job losses, income losses, fall in home wealth, fall in equity wealth, high and rising debt and debt servicing ratios and a severe credit crunch take a severe toll on the ability of consumers to spend.

And the suggestion is that because it will take years to rebuild the savings rate, the associated economic recovery obviously has to take years too, with a ‘Japan mark 2′ lost decade not ruled out at all. As he puts it (our emphasis):
Our research at RGE Monitor suggests that the US and global recession will continue at least all the way until Q4 of 2009 (a nasty 24 months U-shaped recession) and that the recovery in 2010-11 will be very weak with growth in the 1% range that is well below a potential of 2.75%. And we cannot rule out that a more severe L-shaped stag-deflation (as in Japan in the 1990s) will take hold.

But there is some good news. Roubini does believe the odds of a systemic financial meltdown have been reduced due to the actions of the G7 economies. That said, severe vulnerabilities remain.

These include the likelihood the credit crunch will spread beyond mortgages, that deleveraging will continue to drive price declines and that more finanical institutions will go to the wall. Plus:
Credit losses will mount as the recession deepens. And a few emerging-market economies will certainly enter a full-blown financial crisis. So 2009 will be a painful year of global recession and further financial stresses, losses and bankruptcies.

So in a nutshell, don’t be fooled - the worst is still ahead of us.

http://ftalphaville.ft.com/blog/200...-suckers-rally/



und dazu:
A Special Message From Dr. Doom Nouriel Roubini: “Haha, Suckers”

Posted by alyx under markets
1 Comment

lunar 15.01.2009 17:10

1 Anhang/Anhänge
...und wo steht es jetzt :confused einige Minuten später :rolleyes

http://brillig.com/debt_clock/

lunar 15.01.2009 17:58

bullau
Member
Join Date: Oct 2008
Posts: 143


Steve Jobs
A bit O/T but does anyone else find it disgusting all this talk about Steve Job's and the bitterness that the company did not let it out sooner about his illness or severity of it.........I don't think I've heard one word or speck of compassion coming from these reporters but more anger from the fact Apple's share price is dropping..........Poor guy has pancreatic cancer and all we are hearing is the negativity from the press..........Had to listen to idiot Larry Kudlow on CNBC just now rant and rave about how the company and Steve Jobs mislead shareholders...........absolutely disgusting in my mind..........and we wonder why America has such a bad reputation........no offense please to fellow Americans....it is the media and the government that I am disgusted.

lunar 15.01.2009 18:04

The Worst Is Yet to Come (But We Beat the Numbers) - J. P. Morgan


Interesting quotes from Jamie Dimon, CEO of J.P. Morgan, the Fed's instrument of policy, their house bank, king of the derivatives pyramid, as the world is amazed that they beat the EPS numbers again this morning, at least on paper.

The problem is not so much the banking system and a lack of confidence in it. They do not deserve any. Our financial system has become a shell game, an extended accounting fraud, that permeates and selectively destroys whole segments of the real economy.

The problem is that the average consumer in the United States is a wage earner, and their real wages have been stagnating for the past twenty or more years, despite a rosier-than-reality set of CPI figures from the last two administrations.

The fact that most in New York and Washington have not quite realized yet is that the average American consumer is exhausted, tapped out, broke.

Providing easier credit terms, new sources of debt to feed the machine, may stretch this out a bit longer, may cushion the impact as the overloaded and imbalanced economy hits the wall, butit will do nothing to create sustainable growth.

Unless and until something is done to address the real median wage, to provide sources of income, rather than fresh sources of debt, to the middle class, there will be no recovery other than more monetary bubbles, that will be increasingly fragile and destructive in their collapse, ultimately testing the foundations of democracy.

The economic, and then the political, situation in the United States will deteriorate, perhaps much more rapidly than most would expect or even allow, unless something is done to break this cycle of debt and wealth transference, this illusion of vitality and stability.

Sometimes the price of ultimate victory over the people involves taking your winnings with you into a cellar.....

Posted by Jesse at 7:02 AM :verbeug

full story: http://jessescrossroadscafe.blogspo...j-p-morgan.html

lunar 15.01.2009 18:16

Its Official - Obama Fatigue


Well this time we didn't even make it to the Inauguration before becoming disenchanted with a candidate. That beats our record set by ... wait for it ... Bill Clinton.

The straw that broke the camel's back, at least for us, was Obama's nomination of Eric Holder as his Attorney General.

After suffering through that continuing assault on the Constitution known as Alberto Gonzales, one might have expected the President-elect to appoint someone with a sterling reputation for upholding the rule of law, and not performing as a compliant tool to a particular Administration.

As the Deputy to Janet Reno from 1997, Eric Holder was intimately involved in many of the more controversial actions in the twilight of the Clinton Administration, including a key role in the infamous pardon of financial fraudster, Marc Rich.

Obama has spent much of his goodwill now with a series of highly cynical appointments of Clinton insiders, with virtually no signs of any type of a reform government.

He still has all our best wishes of course, but a healthy skepticism has already replaced much of the initial optimism. The honeymoon is over before it got started.

Bush II did not lose this voter's support until it was proven, at least to our satisfaction, that he systematically lied to the nation about something important, the case for the Iraq war.

The same criteria will apply to this President as well. But the goodwill has been spent.

Posted by Jesse at 6:07 AM :verbeug


.....mir kommen auch schon seit einiger Zeit Zweifel :gruebel so viele "Altgediente" :rolleyes

lunar 15.01.2009 20:12

GAZA- KRIEG

Innenminister der Hamas stirbt bei Luftangriff

zur Fotostrecke


Israels Militär hat einen der höchsten Hamas-Vertreter getötet: Den gefürchteten ehemaligen Innenminister Said Siams, Herr über Tausende Sicherheitsleute. Auf seiner Reise durch den Nahen Osten verurteilte Außenminister Steinmeier die jüngsten Angriffe. mehr... [ Forum ]

...wenn man im TV sieht wie sich die Politiker die Hände reichen und lächeln - da kann man wirklich nur noch :bad

lunar 15.01.2009 22:06



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