Comments on: Putting the Genie Back Inside the Bottle http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/ Sun, 27 May 2012 09:03:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Northwest rain http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172798 Northwest rain Mon, 06 Apr 2009 15:57:19 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172798 Why bother to "save" -- put money in the bank? It almost seems safer to find an alternative place for savings (like the mattress). But then if one did remove savings from a bank -- perhaps the storm troopers would pay you a visit and appropriate your money -- something about having more than a few dollars is illegal and "must" be drug money???? Why bother to “save” — put money in the bank?

It almost seems safer to find an alternative place for savings (like the mattress).

But then if one did remove savings from a bank — perhaps the storm troopers would pay you a visit and appropriate your money — something about having more than a few dollars is illegal and “must” be drug money????

]]> By: WMCB http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172755 WMCB Mon, 06 Apr 2009 14:40:06 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172755 I foresee pitchforks for real. It could get very ugly, very fast. I foresee pitchforks for real. It could get very ugly, very fast.

]]> By: Sassy http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172734 Sassy Mon, 06 Apr 2009 14:07:42 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172734 Bernanke lost my respect when he stated in a recent hearing that the recession will ease by year's end...something that no one else has asserted. I regret not having brushed up on "new math", for my figures don't jive with his! Bernanke lost my respect when he stated in a recent hearing that the recession will ease by year’s end…something that no one else has asserted.
I regret not having brushed up on “new math”, for my figures don’t jive with his!

]]> By: oowawa http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172715 oowawa Mon, 06 Apr 2009 13:18:42 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172715 Hmmmm . . . Yes, I remember those days well. "Massive inflation" seems inevitable, but what puzzles me is this: what happens when the forces that cause massive inflation come up against "brother can you spare a dime" massive unemployment? I can't picture this scenario resulting in a happy counterbalance of forces in which ugly opposites neutralize each other and everyone lives happily ever after. What do you think might happen? Hmmmm . . . Yes, I remember those days well. “Massive inflation” seems inevitable, but what puzzles me is this: what happens when the forces that cause massive inflation come up against “brother can you spare a dime” massive unemployment? I can’t picture this scenario resulting in a happy counterbalance of forces in which ugly opposites neutralize each other and everyone lives happily ever after. What do you think might happen?

]]> By: mountainaires http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172711 mountainaires Mon, 06 Apr 2009 13:13:25 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172711 <em>Pressure on Bernanke and Geithner to stop the charade and deal with the problem. This nightmare just gets worse and worse. </em> <strong>Mike Mayo says bank loan losses will be greater than the Great Depression</strong> http://www.bloomberg.com/news/index.html?Intro=intro_news 05 April 2009 <strong>Congressional Watchdog to Drop a Bombshell on the US Financial Industry </strong> <blockquote>"...set to call for shareholders in those institutions to be wiped out. 'It is crucial for these things to happen...'" How about a stiff haircut for the bondholders and defaults on the credit default swaps held by JP Morgan and Goldman Sachs? It will be most interesting to see how Tim Geithner and Larry Summers respond to this advice from Congressional oversight. </blockquote> http://jessescrossroadscafe.blogspot.com/ The Guardian UK <strong>US watchdog calls for bank executives to be sacked</strong> James Doran in New York The Observer, Sunday 5 April 2009 http://www.guardian.co.uk/business/2009/apr/05/useconomy-regulators Pressure on Bernanke and Geithner to stop the charade and deal with the problem. This nightmare just gets worse and worse.

Mike Mayo says bank loan losses will be greater than the Great Depression

http://www.bloomberg.com/news/index.html?Intro=intro_news

05 April 2009
Congressional Watchdog to Drop a Bombshell on the US Financial Industry

“…set to call for shareholders in those institutions to be wiped out. ‘It is crucial for these things to happen…’”

How about a stiff haircut for the bondholders and defaults on the credit default swaps held by JP Morgan and Goldman Sachs?

It will be most interesting to see how Tim Geithner and Larry Summers respond to this advice from Congressional oversight.

http://jessescrossroadscafe.blogspot.com/

The Guardian UK
US watchdog calls for bank executives to be sacked

James Doran in New York
The Observer,
Sunday 5 April 2009
http://www.guardian.co.uk/business/2009/apr/05/useconomy-regulators

]]> By: WMCB http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172709 WMCB Mon, 06 Apr 2009 13:00:36 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172709 Good analysis, Larry. Those of us old enough to have been adults or older teens in the 70's recognize the pattern, and remember the pain. We remeber going to the grocery store and being shocked at prices jumping by leaps and bounds every week. It's all theory to those young ones to whom massive inflation is a number in an old article somewhere. My family eked by with less and less buying power as inflation ran rampant, then lost our home as interest rates skyrocketed in an attempt to control the inflation (mom had an ARM.) Families got hit on the way up, and on the way down. This could be much, much worse than even what we experienced under Carter, if things continue as they are. The naive who have never experienced it are frighteningly blase about the prospect. Good analysis, Larry. Those of us old enough to have been adults or older teens in the 70′s recognize the pattern, and remember the pain. We remeber going to the grocery store and being shocked at prices jumping by leaps and bounds every week. It’s all theory to those young ones to whom massive inflation is a number in an old article somewhere. My family eked by with less and less buying power as inflation ran rampant, then lost our home as interest rates skyrocketed in an attempt to control the inflation (mom had an ARM.) Families got hit on the way up, and on the way down.

This could be much, much worse than even what we experienced under Carter, if things continue as they are. The naive who have never experienced it are frighteningly blase about the prospect.

]]> By: Carmen http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172708 Carmen Mon, 06 Apr 2009 12:58:05 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172708 Why are the articles about Obama's poll numbers on Drudge being blocked? And Rockefeller (of course) has a bill to give Obama control of internet content! Everyone needs to post, and post this article until they get it through. Why are the articles about Obama’s poll numbers on Drudge being blocked? And Rockefeller (of course) has a bill to give Obama control of internet content!
Everyone needs to post, and post this article until they get it through.

]]> By: WMCB http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172705 WMCB Mon, 06 Apr 2009 12:53:44 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172705 Good analogy. Good analogy.

]]> By: oowawa http://www.noquarterusa.net/blog/20189/putting-the-genie-back-inside-the-bottle/#comment-1172696 oowawa Mon, 06 Apr 2009 12:39:41 +0000 http://www.noquarterusa.net/blog/?p=20189#comment-1172696 Thanks for the very informative summary LD. This is one of the things that worries me: the near-certainty of a big storm of inflation looms somewhere beyond the horizon like an approaching hurricane. We hear reports that it is coming, but it's hard to take them seriously. After all, the sun is shining on the stock market, and up and down the beach children are playing and there are lots of amateur weather forecasters predicting the start of a long season of happy sunny days. Many of these "forecasters" have a vested interest in selling beachfront property. In the meantime, there are those pesky satellite pictures of what's brewing just out of sight . . . Thanks for the very informative summary LD. This is one of the things that worries me: the near-certainty of a big storm of inflation looms somewhere beyond the horizon like an approaching hurricane. We hear reports that it is coming, but it’s hard to take them seriously. After all, the sun is shining on the stock market, and up and down the beach children are playing and there are lots of amateur weather forecasters predicting the start of a long season of happy sunny days. Many of these “forecasters” have a vested interest in selling beachfront property. In the meantime, there are those pesky satellite pictures of what’s brewing just out of sight . . .

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