Monday, August 9, 2010

IT'S ALL GONNA BE OK

Larry (hitman)Summers, director of the National Economic Council, said in an October speech to the Economist magazine’s annual Buttonwood Gathering that fixing the financial system could be compared to reducing fatalities in automobile wrecks. Mandating seat belts, guard rails and speed limits proved more effective in reducing damage caused by crashes than trying to prevent reckless driving, he said.

Well Larry, if anyone should be an expert in mayhem...its you. We know who your master is, but of course you can count on the media covering your evil plans. I like this next quote from bloombergs article.

They’re all saying the same thing, which is don’t kill the goose that lays the eggs you depend on,” NYU’s Smith said. “So they’re getting through to the Basel people, and they’re getting through to them in two ways -- one is to soften the expected blows,” he said. The second is “to extend them well into the future.”

The Basel committee agreed last month to give banks more leeway in the types of assets they can count as capital. Geithner, in his speech at NYU last week, said delaying capital rules will make it easier for banks to earn the money they use as capital.

Just bend me over boyz and give it to me like a man. Don't try and "soften" my blow.

Extend and pretend......Thanx Daddy Dodd for this....Your karma is coming....The Dodd-Frank Act requires 67 studies and 243 new rules to be created, according to law firm Davis Polk & Wardwell LLP. The act creates a Financial Stability Oversight Council with 10 voting members, including a to-be-named insurance expert and heads of at least 3 regulatory agencies awaiting new leaders. The law’s Volcker rule, which bans banks from proprietary trading and limits investments in private equity and hedge funds, requires a study by the council before rules are drafted.

Any of your that don't realize that our sytem is completely owned and who runs this world only needs to understand this.....gl gang

13 comments:

  1. gdx filled first gap next at 48.40

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  2. In the ongoing discussion of deflation v. inflation, isn't the present bond market (20-yr. rate hit an alltime low on Fri.) telling us that we are in deflation? Please comment and thank you.

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  3. nancy,

    We have talked about that issue many times, use the metrices which determines whether the cycle is deflationary or not and that's your answer.

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  4. Nancy....the media will spoon feed you the answers.....of course YOU must LOGIC and your INTELLIGENCE...the answers are there....now having made that statement watch for essentials to continue to climb until the death knell for the ponzi reinflation effort...The final washout is 2012-2014

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  5. Zadari's behaviour is inline with his corrupt character that saw him languish for 12 years in prison for corruption. Zadari came to Pakistan's throne following out pouring of grief at the assassination of Benazair Bhutto in 2008, which illustrates the dynastic nature of Pakistani politics where the best for the job rarely if ever get elected with the military always waiting to swoop from the wings to seize power as has occurred many times over Pakistan's 63 years existence.

    Last week David Cameron criticised Pakistan for duplicity with the regards the Taliban and terrorism, this is in ignorance of the fact of the high price that Pakistan is paying for the U.S. war in Afghanistan for the past 9 years that has led to the deaths of more than 1,000 Pakistani soldiers and 10,000 civilians. So instead of the Pakistani President slapping David Cameron's ignorance (who does not even know Britain's WW2 history) down by rebuking him publically with statements such as that his own wife was assassinated by Taliban terrorists so he does not need to preached at by a public school toff, instead Zadari is seen to be shaking hands with Cameron acting more like a poodle than a president.

    Zadari's actions speak that he is only motivated by self interest and in this regard to promote his son to the presidency. Which means that the country is ripe for another military coup if it has not already taken over the country in all but name.

    I would imagine the only item left on Zadari's itenary would be to visit Croydon to apply for a British Passport, at least then the Pakistani's would be free of the Zadari scourge and start to rebuild the country after the worst floods in its history.

    In the meanwhile the death toll and destruction escalates as the flood waters flow into the ever more populated areas whilst the mainstream press obsesses over Super Model Campbell's blood diamond antics.

    By Nadeem Walayat

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  6. Joe what do you think of ABK right here at .74

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  7. Just picked it up cabby at .76......yum n thnx

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  8. Joe say's you are a bottom feeder cabby...

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  9. Woodcarver said, Joe, a friend of mine has read the blog and has tried to look at stocks that meet the critera that you have described. This company is LOCM. We would appreciate your imput. Thanks

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  10. Woodcarver,

    LOCM has taken a beating all right, the stock price is below 50 & 200 MA. I like beaten down stocks BUT the sector is as important to me as the stock within that sector. I do not play internet stocks even if they are beaten down, by the way take a look at insider transaction as well, that does not look good:

    http://finance.yahoo.com/q/it?s=LOCM+Insider+Transactions

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