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Tuesday, August 23, 2011

My Favorite Economic News Lead Almost Ever

Bloomberg:
U.S. stocks rallied, driving the Standard & Poor’s 500 Index up from the cheapest valuations since 2009, as weaker-than-estimated economic data reinforced optimism the Federal Reserve will act to spur growth.
Personally, it makes me want to sell stocks when the economic news is so crappy everyone believes the Fed has to act to spur growth (especially given their recent record), but this is accurate.

USD is rolling a bit higher almost across the board as a result, I believe, of the Japanese sovereign credit downgrade by Moody's. The outlook is stable, so it is no big deal, and if the yen manages to drop a bit against the USD, it can only help Japan's economy.

Comments:
Yes!!

I sense your frustration!

My WV is reclogi.

It's like an economic clog that reappears.

The saying is that we shouldn't fight the Fed. I think the new saying should be that we don't fight the WV! It knows all.
 
Mark - I just found the best quake conspiracy comment ever at Youtube.

You can never top this, Mark. It is a run-on conspiracy theory wrapped up in a run-on sentence. Pure Bliss:

didn't the pentagon have a warning from alciada about burried nukes all over the united states? this quake was 1km deep and I heard reports of fracking in the area, and not to mention its fairly easy to dig one mile down and set off a moab, or a small nuke on the right spot, I know it sounds out there but Im trying to figure out if this is agenda 21 in action, Cgreene greenwave tv was talking about rumors the earthquake and tsunami in japan might have been a nuclear explosion, crazy times nonles
 
MOM,

I concede defeat. It would take me a century of searching to find something even approaching its equal, lol.
 
I can't stop thinking about the conpsiracy theory you found. Too funny!

Only a conspiracy theorist could devise the following terrorist plan and think it is rational.

1. Set nuke off on American soil.
2. Safely contain all radiation.
3. Create no major damage.
4. Do not allow serious injuries.

This caused me to do some more research.

I now have a theory that explains the conspiracy theory. Somebody was clearly reading too much Uncyclopedia.

Uncyclopedia: Gilligan's Island (nuclear disaster)

"It wasn't long before the kaijuways had leveled Tokyo, in spite of a largely ineffectual barrage from the Japanese Self Defense Force's elite Plastic Tank Brigade, Fireworks Artillery and Fly By Wire Jet Squadron."

"Defenders of the USAF suggest that the entire incident never took place at all, but was most likely a dream sequence, like the one where Lovey Howell was Cinderella, or the one where Gilligan took on a corrupt wild west sheriff."
 
Mark - as a bomb delivery system, the one-mile-under-the-surface method has definite deficits.

I also think the "its fairly easy to dig one mile down" deserves a moment of reverent silence.

Perhaps the commenter is postulating the dawn of the "eco-Quaedists", who were worried about the possible negative implications for the flora and fauna and therefore decided to deal a purely imaginary blow?

The Shrink's work is cut out for him, isn't it? An inexhaustible field out there.
 
Better sell stocks, I see that durable goods came in better than expected so Bernanke won't stimulate. Bad, bad.

Sal M.
 
I also think the "its fairly easy to dig one mile down" deserves a moment of reverent silence.

That was my favorite part.

Now if he had suggested an old coal mine...
 
The eco-freaks have decided that fracking will cause earthquakes. Read some of the anti-fracking diatribes. "The earth shakes like an earthquake when they're fracking. It can't be good for the houses, wells, or animals. It could cause real earthquakes. Etc." Now, they have their evidence. Earthquakes are rare on the East Coast. What else could have caused it. They are hard at work compiling a list of scientists who will confirm that, "Yes, it could all be connected."

In the meantime the hurricane is barreling in to do its work. The hurricane is just more evidence of AGW, of course. No oil, no fracking gas, no heat for us. We must kick our addiction to CO2.

Oh my, Algore must be mumbling prayers of thanksgiving to Gaia in his underground bunker in ???
 
Here's some more explanation for the earthquake:
"Yesterday's East Coast earthquake was caused by an unknown faultline running under D.C. and through Virginia. The U.S.G.S., at the direction of President Obama, has named it "The Bush's Fault."

However, there are also theories that what we all believed to be an earthquake was actually the founding fathers rolling over in their graves ........or it was the effects of a 14.6 trillion dollar check bouncing in Washington."

No end of theories here. Ain't science fun?
 
I should never taken a class in Corporate Finance, Stochastic Calculus, and Financial engineering. After all, it appears that the omnipotent, omniscient Federal Reserve controls all. If we want equity markets to rise, just print money and call it quantitative easing 3.
It seems that we have forgotten the wisdom of the late Milton Friedman and ignored the Lucas critique. If the market anticipates QE3, just how is it going to have an impact? Must we put Volcker back in before policy maker’s stop this foolishness?
You know we, and the discipline for macroeconomics, are in trouble when esteemed economists are suggesting that high inflation would be a good thing.
Oh well, perhaps this will finally force economists that marco ‘egineering’ is pure balderdash.
 
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