A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Still practicing my Spanish. Now on volume two.
SPXSpinning top day (again). Midpoint below EMA(10). Still below SMA(21). No daily 3LB changes (reversal is 1225.85). Still below weekly 3LB midpoint. No monthly 3LB reversal. QE2infinity.
DXYBullish long day. Midpoint above EMA(10). Above the 38.2% retrace at 80.63. Above 80.95 (major fibo from low). New high on daily 3LB (reversal is 79.87).
VIXHanging man day (confirmed bearish thrusting). Midpoint above EMA(10). Back above SMA(89). Below weekly 3LB mid and monthly 3LB mid. Daily 3LB reversal up (reversal is 18.04). Out of the "no fear" zone.
GOLDBullish long day. Back above SMA(21). Midpoint above EMA(10). New 0% retrace has been holding. No daily 3LB (reversal is 1405.10). Getting its "mojo" back.
EURUSDBearish long day. Midpoint below EMA(10). Closed below its 38.2% retrace at 1.3129. Now below SMA(144). New low on daily 3LB (reversal is 1.3313).
JNKBullish short day (failed to confirm bullish engulfing). Still below SMA(55) but above SMA(89). Midpoint below EMA(10). Still failing the Gann 4x1. No daily 3LB changes (reversal is 40.30).
10YR YIELDBullish short day. The 0.0% fibo retrace at 23.59 has held. Failed to retest SMA(144). Heading for its 23.6% retrace (27.49). Midpoint below EMA(10). No daily 3LB changes (reversal is 26.36).
DJ TRANS AVGBearish short day (maybe yesterday was a hanging man as it's been confirmed). Still above SMA(21). Midpoint above EMA(10). No daily 3LB changes (reversal is 4924.46).
CRBBearish short day (confirmed hanging man). Midpoint above EMA(10). Still below SMA(21). Above the Gann 2x1. No daily 3LB changes (reversal is 315.25).
XLFBullish short day. Midpoint below EMA(10). Below all SMA's. Trying to stay above the upper trend line. No daily 3LB changes (reversal is 14.23).
XRTBullish long day (another hanging man freed…fire the governor). Midpoint above EMA(10). Still above all SMA's. No daily 3LB changes (reversal is 46.43). Holiday hype or begging?
45 comments:
@ben
I'm going to carry out some of the arguments from the other thread, to this one...
Think of this...
With homes... People were basically "borrowing" money with undocumented income in an effort to crowd in and buy something relatively illiquid that was overpriced
With dot.com stocks... People were going ON MARGIN to buy pieces of paper of ownership of companies that didn't even make a profit selling anything...
BOTH of the above were amplified (either by banks participation in processing the loans, or by trading desks GAMBLING with unrestrained leverage as to the "prices" of those so called assets)
Now... With PM's (or food, for that matter)...
First of all (except with the case of PAPER PM ETF's - which I'll leave aside for a moment)... Most people that are in the acquiring these things are actually taking delivery (buying coins or bars from shops & vendors & squirreling them away)...
The PHYSICAL being bought, is NOT being bought on margin (or by loans)... Or even if they were... Ha! let's say someone decided to MAX OUT their $60,000 Chase card limit to buy physical gold and silver, and then hide it like Jesse James... Now wouldn't THAT be a kick?!
Anyway... as for the REAL JUICE (the banks)... Hell, they're out there trying to lean SHORT on the stuff (not participating in the price run-up as they did with houses and dot.coms)...
Also...
DEFLATION?
What CV c-o-n-t-i-n-u-e-s to point out is that YES... there is a "scarcity of goods" in deflation...
Why?
Because the world CONSUMES goods these days at a POP (point of purchase)...
99% of all goods consumed are fabricated, and assembles VERY FAR from their homes (or even the local merchant where they go to buy that good)...
The whole process of assembly, then transportation to market WORKS in a mildly inflationary environment (because margins are fungible)...
Enter DEFLATION...
All you have to do is talk to a dairy farmer to know that when milk prices are depressed... herds are culled...
A farmer IS NOT going to feed a herd of 1,000 head of cattle, then pour all the milk down the drain (unless Obama PAYS him to do that - which is another argument entirely)...
The farmer, instead, will cull his herd down to whatever number he needs to make a small margin on the milk that actually is consumed...
Result? Less aggregate milk...
So if you live across the fence from a dairy farmer, like CV... You have little worries...
If you're in downtown Manhattan, and want something to pour onto your Cocoa Puffs... Either there's no milk to be found (that far away)... or the COST of that, now, "specialty item" is going to ge high...
INFLATION within DEFLATION
CV predicts that as your DEFLATION picture plays out, that people migrate further on out to near where the food is...
"...that people migrate further on out to near where the food is..."
I wouldn't be knowin' about that, now?
What kind of 'Timeframes' are you looking at?
for this 'Inflation within Deflation'-mode to work-out..
and, as, but, one aside: peep are going to be 'jingle-mail'-ing their Keys, back to the Bank, so they can migrate away from their 'Underwater' Home-owership?
then, what do they for, you know, 'Jobs'?
AAIP
...(unless Obama PAYS him to do that - which is another argument entirely)...
those, referred to, peep, in the 'hattan, are way more likely to be taking their Ration Coupons to the local DHS-FEMA-TSA-National Guard "Food Bank" to get USDA 'non-fat' powered Dry Milk..
but, as you say, that's 'another story'..
AAIP
@AAIP (6:26) & (6:22) for that matter
Both GREAT points, that I will indulge to elaborate on...
When people discuss INFLATION - DEFLATION (I've said this many times before)... I believe they erroneously get herded in to a discussion on PRICES...
CV doesn't see the debate as a PRICE issue... Instead, I see it as a COMMERCE issue (how & where transactions tend to coagulate)...
So let's use your examples (on the 'hattan)...
In simple COMMERCE terms...
If prices INCREASE, then the first probable result is HOARDING... Therefore... The 'hattan-ites' may start hoarding the milk... The natural problem, then, will be with respect to the practical issues of raw goods... The most NATURAL of all?... Shelf life... You can't HOARDE something that is perishable... The first thing you opt for is a SUBSTITUTION (powdered milk - in your example)... The ones who cannot adapt to that substitution, will move elsewhere...
If prices DECREASE... Then the natural COMMERCIAL extrapolation will be that these goods NEVER MAKE IT TO MARKET IN FAR AWAY LANDS... The assembled production costs, and the energy costs to transport these things far away eats up the 'fungibility' of margins of the middlemen... No sweat... People will still live... The human race will likely go on... But they are likely to be more limited in what's available to them...
- Iowans will eat corn
- Greeks, Italians, Israelis & Spainiards will still have their olive oil
- Germans will have the best beer hops
- Foresters will have the best truffles & mushrooms
- Mexicans will have the best Agave
- French & Swiss will have the best dairy cows for cheese
I guess... the good thing here is... Most Americans have not developed the "fine tastes" or appreciations for these wonderful things...
Most Americans are content with some frozen boxed pizza (made from processed) that they can plop in the microwave and have ready to serve in under 5 minutes...
So I suppose when the National Guard arrives and has to start delivering food packets and bulk rice to them... It may actually be an UPGRADE to their culinary aptitude...
http://tinyurl.com/33dksyf
Interpol Issues International Arrest Warrant For Julian Assange For "Sex Crimes"
Hee hee. Piss off the government get a stern warning. Piss off the banks and get disappeared.
CV
It's not so much that prices increase/decrease but the value of money has decreased/increased. More money in circulation is inflation and vice versa. Money USED to be a commodity when it was backed by gold.
... and of course
that entire description is probably why it's difficult for me to become entangled in a INFLATION - DEFLATION debate...
Because I believe the ULTIMATE COST (for a human being) is to be deprived of what makes living WORTH LIVING...
Food is a big part of that...
My most enjoyable moments come when I'm assembled around a table with family eating delicious food...
It's a BAD IDEA (for me), to DEPRIVE that sensation at the COST of having some electronic ledger tell me what my net worth is (which will eventually be TAXED by the government as I die and try to pass it on to either my heirs, or the heirs of my family)...
Therefore... I'll forego the FROZEN PIZZA (and OPT for the OLIVE OIL - sorry DL)...
In BR's words... "that's how I roll"...
And in any case... I'm going to be acutely attentive to any "commerce peculiarities" that might disrupt DELIVERY of olive oil to the farm in West Virginia...
Oddly... When I lived in Italy... I never thought about that because I had a grove of olive trees (and more than 3,000 adjacent to my property, at my disposal)...
Know what was hard for me to get in Italy?... Cottage Cheese!... effin' Cottage cheese!... GO FIGURE!
It would be difficult for me to get a grove of olive trees started on the farm... It's not a problem with the land, but it's the climate... In the US, you'd need to be in South Texas, or Southern California to get it going properly...
Plus, I needed about 30 trees just to get me the YIELD I needed for cold pressing...
Gotta work with what you have...
But all the Los Angelinos have an abundant NATURAL WATER SUPPLY, loads of Dairy cows, and all the other 'fixins to survive under any circumstances...
West Hollywood is SURELY the place to be!
@Amen
"Piss off the banks and get disappeared..."
Yeah... Just ask JFK... Oh no wait... You can't ask him... He got a bullet into his skull from a clean high powered rifle shot...
My bad!
@Amen
"It's not so much that prices increase/decrease but the value of money has decreased/increased"
It's not so much that prices increase/decrease but WHAT YOU WANT OUT OF MONEY has become the equivalent of UNOBTAINIUM
There... Fixed it... :-)
Attention all Fantasy Football (in the SC League) players...
While CV is 'distracting' you all with these PRICE ruminations... The "other" hand is on YAHOO, doing backdoor roster upgrades (to my 10-2 squad) under your noses...
Wednesday WAIVERS clear... Be ready for some surprises!
CV
It gets better. JA will release info on the Pharma industry after releasing the info on the bank. Ruh roh. Hope he has a food taster.
@AAIP
BTW... This post (on TWSWB) was hilarious...
November 30th, 2010 at 3:44 pm
peep wonder why they’re referred to as ‘Economagicians’..
the f***ing Hubris of it (Econometrics) is, itself, stultifying..
http://www.thefreedictionary.com/stultify
It reminds me of the scene in Jurassic Park where Dr. Ian Maclom (Jeff Goldblum) is trying to get Laura Dern to predict where the droplet of water would channel to after it was put onto the back of her hand...
@Amen (7:28)
as someone posted on this blog a few days ago...
We're in for an INTERESTING 2011...
CV's advice? Stock up on popcorn!
I might have to do a "PREDICTIONS" thread...
Not on S&P (and other "indices") levels... Mind you...
That's passe'... Because it has nothing to do with anything anymore...
I'm talking more "interesting" things...
Oh... & by the way...
GOOG dipped below a 78.6% retracement of that silly GAP UP (over $600) on earnings at the beginning of the quarter...
Wast that CV, or was that someone else, who "penned" (on that day), that GOOG has a bad history of staying above $600?
I can't remember... Was that ME who said that?
---
Let me now take a completely different tact...
GOOG "can"... YES CAN... go back over $600 and stay there...
...and if that's the case... Then I'm a LOVER of holding PHYSICAL GOLD & SILVER...
Just saying...
CV,
I think Mark says it best by asking what time frame you are talking about with this stuff, like the following:
"If prices INCREASE, then the first probable result is HOARDING... "
Whaa? Did people do that in 2008? Even better, food prices have increased what per year the last 20 years, how many hoarders in Manhattan over that time? This might occur in a hyperinflationary event, which is nearly a 0 probability currently. Given that the total monetization if all of the debt is papered over is roughly 1 quadrillion, we'd have to say that doesn't happen overnight it happens over a decade or two. It's possible of course, but so is Monsanto creating milk pills with 0 side effects during that 20 year period, so no big deal about a milk shortage.
Do you think due to population size it's why it's going to play out like that? We have a real life example of a deflationary depression, what food items did that in the 30's....and there was even a dustbowl on top of it all.
Seems it wasn't much different than it is today, if you had money then especially cash on hand, or you had a decent job in the 30's, food was cheap, and you had no issues, if you were unemployed, took on too much debt, everything was hard, life sucked the big one, depressing like.
As for PM's, why should we assume that no credit has found a way to purchase pm's, the massive rise in GLD interest is xzhibit A, no doubt leverage is being used there I can't quantify how much but I would guess it's bigger than you think. I also think stating that any sort of majority is buying gold and storing it for safety reasons is a stretch and a half, I would suggest the vast majority of people buying gold are doing so for one reason only, they think they can make money off if it. I'll grant you that lately one has to consider that sentiment is shifting, and gold is starting to trade more like a currency, we'll see. What I observe is that the average Joe shuns physical as soon as they find out they pay a premium to spot at a dealers shop. Or easier, one need only look at net speculative longs in gold and silver contracts lately to know there is certainly a lot going on in this space and where there is speculation, there is credit and none of them are taking delivery. I am not claiming that gold and silver are in "bubbles" like dot.com stocks or RRE just simply that hyperinflationary arguments in relation to gold are a bit silly right now and that the history of gold and inflation and it's true definition leaves a lot to be desired for the inflation = rising gold thesis.
As for why the banks aren't into the gold rally....like I've been saying, they NEED dollars!
how come all the weeks I really want someone my waiver priority is the pits?
did you rig that CV?
rigged, rigged!!!!!
"how come all the weeks I really want someone my waiver priority is the pits?
did you rig that CV?
rigged, rigged!!!!!"
---
LMAO... :-)
As you probably know... If ANY rules changes are ever put through by the commish, A LOG of those changes gets published in the "League Transactions" page... IOW - You would know about it if CV were making secret moves...
No... Instead... I operate like Ben Bernanke...
I ROB YOU ALL IN PLAIN SIGHT! :-)
Answer to other comment forthcoming...
I might have to make a run to pick up some more BEER first though...
Damn shit is "perishable" (dontcha know?)...
And CV has not yet acquired the taste for VODKA and things that aren't perishable (that I could stock up on)...
Switching to "frou frou's", for CV, would be like 'hattan-ites going to powdered milk...
I'm not there yet... (I do have a "hops" patch growing now though)... Not yet to maturity...
Soon... I'll be onto beer making... Maybe I can mely these nickels down to make huge copper vats to start my own brewery! :-)
Commerce bitchez!
@Mcf (points)
"As for why the banks aren't into the gold rally....like I've been saying, they NEED dollars!"
Banks don't need DOLLARS... They need to make their monthly nut (like the rest of us), to perpetuate their own existence, and more importantly, PAY BONUSES... I'd bet that a decent portion of those bonuses being paid are actually being used (at this moment), to accumulate PM's & other goods...
Question: What were the Nazi's trying to hide and shuffle out of Germany at the end of WW2? Was it DM's?
Seems it wasn't much different than it is today, if you had money then especially cash on hand, or you had a decent job in the 30's, food was cheap, and you had no issues, if you were unemployed, took on too much debt, everything was hard, life sucked the big one, depressing like.
I don't see how this is an argument... Life ALWAYS sucks if you don't have a job and have too much debt... AND, the few that do have money will be able to get their hands on food...
What I'm talking about here is the WEALTH GAP... America... supposedly... has a 3 class system... When TSHTF, it will evolve to a 2 class system... And let me tell you, there is a lot more room on the train for the LOWER CLASS than there is in FIRST CLASS...
So we're talking about a significant portion of Americans who will have to devolve to lower standards in this process...
So the question begs... (in my best Clint Eastwood)... "Do you feel lucky?... Well, do you, punk?"... :-)
http://www.youtube.com/watch?v=u0-oinyjsk0
Gotta go 4 beer now (because I try NEVER to feel too lucky - as observed EVERY WEEKEND with my Penn State picks)...
CV,
banks most certainly do need dollars, this is just a fact, they didn't make any loans in gold. Banks are insolvent, this isn't just about paying bonuses.
As for your questions about the Nazi's...hyperinflation event. We are not anywhere even remotely close to that situation here.
The wealth gap, there was a giant wealth gap at the peak in the 20's as well but this would be something that supports the deflationary outcome, making any rises in food prices a lower probability. The wealth gap of the 20's is only really rivaled by the one we have now which has been building up since 1980 right along with credit expansion, so it's not different in any sense other than the degree/size at which it is happening now.
See the first slide:
http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4#the-gap-between-the-top-1-and-everyone-else-hasnt-been-this-bad-since-the-roaring-twenties-1
The point in bold above wasn't so much an argument than it was to point out that we didn't experience any massive food inflation during the deflationary depression of the 30's and if we are to have another deflationary depression I think it unlikely we see some massive blowoff in food prices. If we are going to argue scarcity then it had all the more reason to have done so in the 30's given the dust bowl but deflation is overwhelming.
I do agree as we come out of deflation or some muddle through decade it's far more likely for people to feel the sting of the lifestyle change because this time America has a different role globally than it did coming out of the depression of the 30's.
Think we all need to go on a diet anyway...
@McF
Obviously we both know what the score is... But I think it's semantics to argue the difference between banks being insolvent and the rest...
OK... I'll put it in your terms...
- YES... We all know they are insolvent...
- So what of it?
- Big 'papa' bank "monetizes" debt
- accounting rules are CHANGED
- Why?
- Answer:
- to BUY TIME
- Why buy time?
- So that, according to these new fabricated rules, THEY CAN MAKE THEIR FUCKING MONTHLY NUT (and pay bonuses)
- As long as that lasts... It will
- If it ceases to last, they'll change the rules again...
What is ANY economy... EVER... Except for the monthly nut? When monthly nut payments either get stopped (or FAITH freezes according to that system)... The economy grinds to a halt... Services diminish...
It's not about the DOLLARS, it's about the FLOW...
And as far as the Nazi's were concerned... Shuffling gold out wasn't about hyperinflation (that was NOT my argument)...
Shuffling gold out... was... an insurance policy that AFTER THE FLOW STOPPED, and eventually needed to be rebooted... This what was most valuable in the "re-boot" process...
The TRUTH is... Actually, LAND would be the best thing to have... But if you're a criminal on the run... You can't be anchored to land...
Gold is what you can take with you...
I'm skeptical that "electronic credits attached to a fiat currency" will cut it on the next go around...
Also...
I think DUSTBOWL comparisons are a "non-starter"...
First of all... the total population was quite different...
Second, the population wasn't used to eating the same amount of total calories that it does today...
I've been training people for 30 years now... Let me tell you... Cut even 500 calories a day from thier diets, and they CHANGE MOODS...
But those aren't even the most compelling AGGREGATE arguments...
Here are just some ideas off the top of my head...
- Tell me how many cities of over a million population there were in the 1930's
- Tell me exactly what they were actually eating every day (vs. today)...
There's a big difference between FOOD SCARCITY and SCARCITY OF FOOD...
If someone doesn't understand that concept... Go talk to one of the contestants on the TV show SURVIVOR, and ask them how they "feel" about their daily diet (and how it affects their mood)...
"It's not about the DOLLARS, it's about the FLOW..." (part 2)
If you're not paying GUIDO back, he won't start breaking your knuckles until the FLOW actually comes to a halt...
Until then... He'll string you along and keep you in FEAR...
THAT is the monthly nut...
Amazing how many times they've tested the low 1170s and it has held....
This level is almost becoming "too" important. The "easy" trade is to get long here and just stop on a break of 1170....which means we should probably do the opposite....
Stay short...wait for 1173 to give way....watch the technicians sell it hard on the "break down"...then buy it from the idiots listening to all the armchair technicians.
Need to get into double-triple-reverse psychology....
Reminds me of this great scene.
@Dizzying Intellect...
This is the only TRIPLE in CV's repetoire...
http://www.youtube.com/watch?v=rDMMYT3vkTk
this:
- YES... We all know they are insolvent...
- So what of it?
- Big 'papa' bank "monetizes" debt
- accounting rules are CHANGED
- Why?
- Answer:
- to BUY TIME
- Why buy time?
- So that, according to these new fabricated rules, THEY CAN MAKE THEIR FUCKING MONTHLY NUT (and pay bonuses)
- As long as that lasts... It will
- If it ceases to last, they'll change the rules again...
and, the point about Flow v. Price, are good ones..
also, this:
...there is a lot more room on the train for the LOWER CLASS than there is in FIRST CLASS...
and:
...There's a big difference between FOOD SCARCITY and SCARCITY OF FOOD...
too..
We forget that 'Food' has always been an implement of Control..
whether peep are larded-up w/ cheap food-fractions, or starved-out by the withholding of it..'Food' is a Weapon.
also, McB, "Dustbowl", notwithstanding, FDR was 'liquidating' (burning/trashing) all manner of Foodstuffs during the Great Depression, ostensibly, "to maintain Price"..
see some of
http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=FDR+destroying+crops+during+Great+Depression
AAIP
Looking at this set up on the ESZ10, the SP futures, 1188 looks like a decent stop now for anyone pressing shorts (like me). It's printing 1181 right now. Getting a bad feeling that we're about to jump 20-30 SP500 pts in the next few days.
If LB is Scottish this is CV :)
http://www.youtube.com/watch?v=QW5Ha1cLApw&feature=related
Andy T
First of the month is always a doozy. But with all fo the redemptions will the MFs have anything left to buy with?
That's one nasty looking bearish engulfing on the EURUSD monthly chart.
Didn't see this mentioned: http://tinyurl.com/2bhyl6p Fed Set To Release Bailout Documents
Noon ET on 12/1/10.
RUH ROH.
>> When people discuss INFLATION - DEFLATION (I've said this many times before)... I believe they erroneously get herded in to a discussion on PRICES...
CV, I think we all should refrain from saying "inflation" and "deflation" without prefacing those words with either of these adjectives:
- "credit"
- "price"
Mish at one time had me convinced that "inflation" refers to "expansion of credit" and that I should discard my previous layman's definition for the term. But, I've changed my mind about that. So, now:
- When I see home values dropping and countries defaulting on their debt, I'll say "wow, look at the credit deflation!"
- When I want to bitch about rising supermarket prices and shrinking cans (stemming from currency devaluation even amidst credit deflation), I say "wow, look at the price inflation!"
That way, no matter whether I'm talking to econ-heads or coworkers, everyone will either understand what I'm talking about or else -- likely worst case -- ask me to explain what I mean.
Mark,
I clicked the first link in the search, a man from Russian Today making claims about the US and FDR's murder of 5 million people, .....reliable?
I would imagine Al Qaeda Daily has an even more damning account. Certainly doesn't mean it's not true, but the articles themselves all reveal they are speculative, perhaps even more so considering the source since all MSM has an agenda, right?
I'm not presenting anything radical here, massive over-leveraging then eventual credit deflation, 30% unemployment later and prices are depressed on everything, no "manipulation" is necessary.
Regarding farmers trashing crops in the 30's, is it not true that some did this on their own as they realized it cost them more to get the product to market than they'd receive for it? Further, as I'm to understand it, FDR's attempts were to raise food prices via legislation not to keep them down, that attempt didn't succeed either. How does it make sense to create a situation where there is less of something in demand if the goal is to make prices stay low? Or, is that your point about food being part of control?
CV,
come on, you are going to write off the dustbowl by stating that "first of all total population...."
you never mentioned the other side of that, total grain production.....it's not like this has remained constant since 1930 eh?
We had the green revolution after that. While it's fairly well known that grain production started to have trouble keeping pace with population starting in the early 90's or rice and wheat as early as the 80's, just recently we've had huge yields, 2004 and 2007, and corn has remained strong, I'm always careful to extrapolate food production trends, that's been going on incorrectly by various people for hundreds of years and likely much much longer.
Also, regardless of whether or not your point about the Nazi's was one about hyperinflation, I'm still going to state that what they were doing was in response to hyperinflation, not in preparation for it. I'm hardly buying it if you are implying that they foresaw the collapse of their economy and currency so early that this was in fact why they were trying to get gold out of the country,... that it was not some sort of too late response to something that was beyond repair? Really? Nah, I highly doubt it, I imagine rather that there was extreme confidence in their plans until it was far too late for most people to take any sort of proactive steps monetarily.
Were there a lot of rich Nazi's that escaped from there with their gold stashes? Not trying to be an ass, I honestly don't know, maybe there were.
Andy,
just for kicks, I might mention that it would appear GN slightly lowered where he was putting his 5 in the truncated C pattern
20-30 S&P pts eh......
LB reporting in. EURUSD has finally stopped falling like a rock. JPY slightly firmer, Nikkei still in late afternoon recovery mode.
West Ham beat a weakened but decent Man U side 4-0 last night! Andy, did you ever adopt Spurs as your team? If so, good choice over Evil Chelsea and Arsene Wanger's team.
LB agrees we will break out of this triangle. But with bond yields as low as they are, will SPX really break out lower? To LB the most likely catalyst to break the triangle would be a hot job number, and bonds sell off.
Still like the 1225 area as a rounded top, wonder if we kiss it again? LB imagines that he would be happy to kiss Karen's Top repeatedly...
http://www.google.com/search?hl=en&source=hp&q=Agricultural+Adjustment+Administration&aq=f&aqi=g4g-m3g-v3&aql=f&oq=&gs_rfai=CHHVYj-f1TMuQC4bgzgSqn4y0DgAAAKoEBU_Qedyo
add'l
AAIP
Ben,
w/ : "...How does it make sense to create a situation where there is less of something in demand if the goal is to make prices stay low? Or, is that your point about food being part of control?"
to the first Q:, you're correct, it doesn't.
here: "is that your point about food being part of control?", Yes.
people, no matter the #, were in 'Soup Lines', at the minimum..
and, that Joker was using Cash, additional Debt, not to Feed People, but to destroy Foodstuffs...
We'd do well to wonder..Why?
the old saw about 'History rhyming'..
FDR was trashing America's, domestic, self-image..
ol' 43, was trashing (what was left of) America(n)'s, international, reputation..
AAIP
p.s. and, w/this: "...perhaps even more so considering the source since all MSM has an agenda, right?"
Broadly, everything is written 'with an Agenda' (:
Mark,
Ok, I understand better what you were trying to say now, makes sense. FDR gets so much praise, seems to me he was one of our worst presidents.
>> FDR gets so much praise, seems to me he was one of our worst presidents.
We know -- or should know -- a lot more now than we did back then about economics. So, I do not want to solve a Depression "exactly" the way FDR did it. But, by continuing and expanding on policies Hoover started, FDR helped reduce unemployment quickly. The man did not bail out bankers. He bailed out commoners.
FDR apparently also understood what a threat Hitler was and worked to involve us in that war. He did that in spite of the fact many in the US wanted to keep doing business with Hitler and some even held a Nazi rally in MSG.
Also, FDR approved the Manhattan Project. Yeah, maybe we ultimately didn't "need" A-bombs to win, because Hitler gave up on his program early. But, who could be sure? Anyone thanking Truman for "making the tough but correct decision" has to thank FDR for going ahead with the program in the first place.
wunsa-,
"The man did not bail out bankers. He bailed out commoners."
http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=FDR+Emergency+Banking+Act+of+1933
might want to rethink that one..
AAIP
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