Monday, September 29, 2008
"OK If We Can't Borrow $700 Billion, We'll Just Print $630 Billion!"
Or so our financial wizards seem to be saying. Here's a Bloomberg article title we haven't seen before: "Fed Pumps Further $630 Billion into Financial System." (HT2EPJ)
Comments:
... and later we will take the $700 Billion, too, if it's not too much to ask.
# posted by 
: September 29, 2008 at 4:37 PM
: September 29, 2008 at 4:37 PM
Where were the stock market curbs today, 9/29/2008?
Every time during the past few years when a quick sell off in the US stock market started to happen , curbs kicked in and slowed the pace of the sell off. That did not happen today, ‘with the biggest single day sell off’. Why did that not happen today? The American people are being manipulated, through fear. Maybe you know somebody who knows why or who turned off the sell off curbs.
rob
Every time during the past few years when a quick sell off in the US stock market started to happen , curbs kicked in and slowed the pace of the sell off. That did not happen today, ‘with the biggest single day sell off’. Why did that not happen today? The American people are being manipulated, through fear. Maybe you know somebody who knows why or who turned off the sell off curbs.
rob
# posted by : September 29, 2008 at 7:05 PM
: September 29, 2008 at 7:05 PM
I'm not aware of such curbs kicking in, except for right after 9/11. (And even then, they were just talking about them; I don't remember if they actually used them.)
I thought the rule was a one-hour break if the market dropped 10%, and then an all-day break if it dropped 20%.
Also, note that today was the biggest sell off only measured in absolute points. The percentage drop was only the biggest since they reopened after 9/11.
I thought the rule was a one-hour break if the market dropped 10%, and then an all-day break if it dropped 20%.
Also, note that today was the biggest sell off only measured in absolute points. The percentage drop was only the biggest since they reopened after 9/11.
Bob,
Was this then merely a matter of relative confidence in the dollar -- we can offset the new dollars with more government debt or we can just flat out print them?
So we get the inflation in any case, it is just that this is more openly inflationary -- no pretense of anything backing it up?
Jim O'Connor
Was this then merely a matter of relative confidence in the dollar -- we can offset the new dollars with more government debt or we can just flat out print them?
So we get the inflation in any case, it is just that this is more openly inflationary -- no pretense of anything backing it up?
Jim O'Connor
# posted by : September 30, 2008 at 10:42 AM
: September 30, 2008 at 10:42 AM
Question from a friend -- the currency swaps amount to us giving "full strength" dollars in exchange for currencies which are directly or indirectly backstopped by the dollar? So we're taking 1/n strength dollars and exchanging them for 1 strength dollars? Is this right?
Jim O'Connor
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Jim O'Connor
# posted by : September 30, 2008 at 11:39 AM
: September 30, 2008 at 11:39 AM Subscribe to Post Comments [Atom]
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