tag:blogger.com,1999:blog-6616959642391988608.post7470573924119806705..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: A genuine selling panicScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-6616959642391988608.post-19382355796133699012011-08-09T14:26:23.139-07:002011-08-09T14:26:23.139-07:00Scott - Thank for this very informative post and c...Scott - Thank for this very informative post and charts this AM.<br /><br />WilliamWilliamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-75904543824662955692011-08-09T10:46:23.317-07:002011-08-09T10:46:23.317-07:00That is precisely the flawed thinking process whic...That is precisely the flawed thinking process which has gotten the world into this mess. I would exactly call those quality juristictions or economic superpowers. Interestingly Belgium is in the top 3 and shares the 'AA+' rating along with the US. As Ron Paul recently stated, 'If debt is the problem ...how is more debt the solution?' With any luck it won't take us more than a TradingStrategyLetter - Weekly Summaryhttps://www.blogger.com/profile/06430136667577107255noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33586319051913071762011-08-09T10:25:51.234-07:002011-08-09T10:25:51.234-07:00Good reading:
http://uneasymoney.com/
European n...Good reading:<br /><br />http://uneasymoney.com/<br /><br />European nations with the best economies are those who printed the most money.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-82596519649430112562011-08-09T10:21:52.495-07:002011-08-09T10:21:52.495-07:00I encourage all Calafia Beach readers, and Scott G...I encourage all Calafia Beach readers, and Scott Grannis, to read the bloggers cited in the passage below.<br /><br />"As I see our current situation, the Federal Reserve, with its too-tight monetary stance since the summer of 2008, has allowed nominal GDP to fall far below trend, causing a collapse of output and employment — as described by the monetary bloggers Scott Sumner, David Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33886404681571146922011-08-09T09:52:54.315-07:002011-08-09T09:52:54.315-07:00The US was down graded by 3 others sources before ...The US was down graded by 3 others sources before S&P made it's long over due move. China rating service has the debt rated as 'A'. Why they waited until $US17 Trillion is beyond me - but I do have my suspicions. This downgrade will cost the treasury another $US100 Billion. Who is going to pay for that? Obama's mindless whine about the 'rich' not paying their fair TradingStrategyLetter - Weekly Summaryhttps://www.blogger.com/profile/06430136667577107255noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-74023290076826687872011-08-09T09:29:29.553-07:002011-08-09T09:29:29.553-07:00Presidents are assigned far too much credit for bu...Presidents are assigned far too much credit for budget deficits. Congress is the culprit, and the D's and R's share the habit of spending other people's money with gusto.<br /><br />Obama does deserve criticsm for constant mantra of villifying the wealthy, free-enterprise, and corporations. <br /><br />Last Tuesday, Reid, Schumer, and Obama all announced that we can expect tax Steve Khttps://www.blogger.com/profile/13432588336315831351noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-20002466380555194822011-08-09T05:18:55.068-07:002011-08-09T05:18:55.068-07:00Aside from all the "bitching" about Obam...Aside from all the "bitching" about Obama -- as if the president controlled economic growth (and please don't talk about additional regulation... you want uncertainty how about the last 30 days of BS on the debt ceiling). The real issues for stock going forward are consumer sentiment, ISM and economic participants.<br /><br />10 days ago Walmart's "Secret memo" that Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-86044336429554245772011-08-08T21:59:17.681-07:002011-08-08T21:59:17.681-07:00The full consequences of the 2010 election are upo...<i>The full consequences of the 2010 election are upon us. The recovery is dead. Governor Perry leads thousands in prayer.</i><br /><br />An alternative interpretation is that the full consequences of the 2006 election are upon us. A housing bubble and trillion dollar annual budget deficits. And a president insisting that the US is really a AAA creditor in the face of the accumulation of the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-27188186547554357512011-08-08T20:04:35.055-07:002011-08-08T20:04:35.055-07:00The full consequences of the 2010 election are upo...The full consequences of the 2010 election are upon us. The recovery is dead. Governor Perry leads thousands in prayer.Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-41425375890577278792011-08-08T19:43:06.677-07:002011-08-08T19:43:06.677-07:00There are no more balance sheets to pollute becaus...There are no more balance sheets to pollute because aliens have not arrived yet. The game of kicking the can is running out of suckers...Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72224169269122683292011-08-08T19:34:44.614-07:002011-08-08T19:34:44.614-07:00WSE: Just to set the record straight, the VIX firs...WSE: <i>Just to set the record straight, the VIX first hit today's level (48) on September 29, 2008. The SPX closed at 1164. It bottomed on March 9 2009 at a closing price of 676.</i><br /><br />Thanks for the reminder. This is undoubtedly why market indexes are dropping several percentage points on a daily basis.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-60512375223670161792011-08-08T18:46:17.819-07:002011-08-08T18:46:17.819-07:00Cabodog: thanks for reminding me of that Feb. '...Cabodog: thanks for reminding me of that Feb. '09 post. And I agree with you that the problem today is a total lack of confidence in policymakers. The good news is that the market is sending a very powerful message to those same policymakers, and they have little alternative but to pay attention.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49614386913390721202011-08-08T18:33:25.994-07:002011-08-08T18:33:25.994-07:00I don't believe today's fall has much to d...I don't believe today's fall has much to do with S&P's downgrade, but everything to do with a total lack of confidence in the government's ability to deal with issues in a responsible manner.Cabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37081890314471399582011-08-08T17:46:53.443-07:002011-08-08T17:46:53.443-07:00Worth reading:
On Saturday, I sent the following ...Worth reading:<br /><br />On Saturday, I sent the following statement via email to several publications (NYT, WSJ, Bloomberg, FT). It is intended to describe why I would vote to maintain the US Aaa credit rating, were I still in my former position. At this time, I have no connection with Moody’s nor any non-public knowledge of what its analysts think about the rating or what they intend to do.<brBenjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-89153536745318321462011-08-08T17:30:24.838-07:002011-08-08T17:30:24.838-07:00Scott, I'm reminded of this post from you made...Scott, I'm reminded of this post from you made just prior to the market low in 2009:<br /><br />http://scottgrannis.blogspot.com/2009/02/gold-approaches-1000.html<br /><br />The second paragraph says it all, except today, we got a speech from Obama reiterating the points you make in that paragraph.<br /><br />The market these days is reacting to "oh my God, this imbecile is still Cabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-41537821957071219262011-08-08T17:26:10.970-07:002011-08-08T17:26:10.970-07:00Cabodog:
I hope you find a party to vote for to d...Cabodog:<br /><br />I hope you find a party to vote for to decrease spending. When you do, let me know.<br /><br />Actually, the deficit should be curtailed but it is a sideshow.<br /><br />The real game is the Fed. They have a monetary noose around the neck of the economy, and they are not letting up.<br /><br />For next six months we see headline deflation, and core goes to zero. <br /><br />Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-50578808996836904902011-08-08T17:21:44.451-07:002011-08-08T17:21:44.451-07:00Scott asks the question of Obama "Is there no...Scott asks the question of Obama "Is there no one Obama trusts who can better advise him on how to get out of this mess?"<br /><br />I believe Scott is assuming that Obama has America's best interests at heart... Or at least the best interests of the very people he seeks to tax -- the wealthy. Is taxing the wealthy a solution or is it simply a method of destroying the opposition?<brCabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-74144503292558779172011-08-08T17:02:08.028-07:002011-08-08T17:02:08.028-07:00Greg Mankiw said interest rates could go lower. I...Greg Mankiw said interest rates could go lower. I guess he was right.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-10711395972342062732011-08-08T16:34:36.694-07:002011-08-08T16:34:36.694-07:00Jeff, Obama's spending are all sunk costs -- t...Jeff, Obama's spending are all sunk costs -- the money cannot be recovered -- neither can the money spent by Bush or any other president -- what serious people need to prepare for is the next steps -- by the way, I agree that a balanced budget amendment may not be sufficient, especially given that growth is declining -- nothing the Republicans can do will change that either -- what is needed McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73081090316533779722011-08-08T16:29:49.121-07:002011-08-08T16:29:49.121-07:00I doubt a balanced budget amendment would go troug...I doubt a balanced budget amendment would go trough. Dem and rep know how GDP is calculated. Deficit spending is the only thing keeping the ponzi running.<br /><br />A balanced budget = instant 30's depression.John Short ad sinorazumhttps://www.blogger.com/profile/06294518362102475267noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-77703617067351416532011-08-08T16:15:53.006-07:002011-08-08T16:15:53.006-07:00Just to set the record straight, the VIX first hit...Just to set the record straight, the VIX first hit today's level (48) on September 29, 2008. The SPX closed at 1164. It bottomed on March 9 2009 at a closing price of 676.The Wall Street Examinerhttps://www.blogger.com/profile/04574114240440249485noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-50958339761769154062011-08-08T15:39:16.941-07:002011-08-08T15:39:16.941-07:00Dr. William,
More than a balanced budget ammend. ...Dr. William,<br /><br />More than a balanced budget ammend. is needed. Do you want a $5 trillion budget that is balanced or a $3 trillion budget that borrows $300 billion a year?<br /><br />And when congress can't balance the budget, what happens? Will the courts have to step in? (Like has happened in some states?) You really want the courts deciding funding priorities?<br /><br />FederalJeffhttps://www.blogger.com/profile/04068805988034886750noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-17788444744623536552011-08-08T15:25:42.063-07:002011-08-08T15:25:42.063-07:00PS: Which would you prefer to carry in your wallet...PS: Which would you prefer to carry in your wallet (or treasury vault) -- "green money" (i.e., US Federal Reserve Notes) or "blue money" (i.e., some new currency based on gold and/or other precious metals or equities)? Which do you think your physician is more likely to accept...? How about an airline...? A new reserve currency based on gold would cause transparently valuedMcKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-48337092902352112522011-08-08T15:18:28.676-07:002011-08-08T15:18:28.676-07:00Blaming Pres Obama for what is happening is not he...Blaming Pres Obama for what is happening is not helpful -- the reality is that no single party is ready to advance a 40% immediate cut in government spending -- America's last chance to control its monetary destiny will be for a balanced budget amendment to pass through Congress and the states with haste -- if a balanced budget amendment fails, then America will be victimized by a sudden McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-44169677875463830142011-08-08T14:35:53.958-07:002011-08-08T14:35:53.958-07:00My concerns are that the pullback "panic"...My concerns are that the pullback "panic" will turn into a self-fulfilling prophecy of Great Recession 2.0.<br /><br />In our businesses, it was great to see the recovery of confidence (of our customer bases) over the last two years. As the market improved, our customers opened the wallets more; the "virtuous cycle" took hold.<br /><br />Now I fear the lose of their Cabodoghttps://www.blogger.com/profile/08299113185481067179noreply@blogger.com