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Friday, June 01, 2012

Haw Haw!!!!

Just about there:

Ain't it purty? Ward's on May auto sales - Surprisingly Bad! Refreshing to see that the author doesn't  blame it on Greece. Sousanis is an honest man and it's a good article that covers the topic.

What does another Operation Twist give you in the way of stimulus with rates already in this territory? A 10 year at 1.47 is just unbelievably low. Yes, yes, everyone's already talking The Big Stim, but short of buy, buy, buying stuff which is already heavily bought, what's the Fed to do? Letting asset prices fall, along with commodities, would provide far more in the way of real stimulus than anything else could possibly do.

Reuters round up of comments on jobs report.

I really don't know what happens next. The world needs quality real assets to provide reserves for the banking system. The world is running out of those assets. What do we do now? There is no banking without those reserves, and there isn't enough gold in the world to pick up the slack. Look at those German yields.

Sure, there's enough gold. At $15K an ounce.

Doesn't sound like much fun, though.
The Fed is hoping lower energy costs will provide a boost
to the economy before QE3 is announced. Too much
uncertainty in Europe to start QE3 now and without tax and
trade policy changes, QE3 will not help the public.

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