Global Economy Bursting?

[DTB]

Like peeing into an ocean, imperceptable.

[URL="http://conversableeconomist.blogspot.com/2012/08/full-recovery-by-2018-says-cbo.html"][url]http://conversableeconomist.blogspot.com/2012/08/full-recovery-by-2018-says-cbo.html[/URL][/URL]

2018 until until 5.5% unemployment returns.

2 days into the 2nd term and market off over 3%, just awe inspiring. Freaking idiot electorate.

Just a perfect setup for a 20-15%c correction. After that we will go back up and try to hit 1500 on the SnP.

I don't know, conventional wisdom indicates a positive 4Q in an election year. A 20% correction would put in new lows for the year.

You know that I'm bad about the longer term stuff anyway. I was in the market last week for a total of about one hour. Twice short and once long, a good week now that some volatility has come in.

Good luck to all.

 

[Big ole Boy]

Forget the CBO wonks

I would not get too wonkish along with CBO followers. Political class desire is to suit the needs of their little tribe and foul the rest of the "great unwashed" tribes with diatribe about tolerance and diversity.

Its every man for himself ... how anyone still listens to GDP figures or CBO prognostications is a testament to the unfailing ignorance of the herd and the obvious lack of human evolution that has yet to take place.

 

[EDWARD BERRY]

Dtb-i Thought That Too.

However Some Comedians Have A Greater Insight. Will Rogers And Dennis Miller.

Miller May Have Doped It Out Correctly.

He Said Something Like This.

Yesterday 51% Of America Voiced Their Selves.

Some Women See Sandra Flake As Their Role Model.

Some Think Planned Parenthood Will Take Care Of Them.

Some Think Food Stamps Will Last Forever.

Some Can Make More Not Working Than Working.

Some Believe That Their Retirement Will Never Be Cut. Etc(i Think I Remember His Comments Correctly)

Now Whether I Like That Or Not, That Appears To Be Reality.

So, We Cannot Assume That Most Americans Will Forever Hold To Those Ideals That Made This Country Great.

Its A New Ball Game. One Can Join Them Or Care For And Train Your Family And Try To Help Others Do The Same.

The Jews Have Done This For Centuries And I Guess Its Time For Us To Do Likewise.

 

[Workbox]

I don't know, conventional wisdom indicates a positive 4Q in an election year. A 20% correction would put in new lows for the year.

You know that I'm bad about the longer term stuff anyway. I was in the market last week for a total of about one hour. Twice short and once long, a good week now that some volatility has come in.

Good luck to all.

My bad, I meant 10-15% correction. I set up some shorts after the election and quick longs the next day. I think a couple of days going long then short again for following week.

 

[Randolph Kinney]

IMF Demand for Greek Debt Haircut

http://www.spiegel.de/international...s-political-headache-for-merkel-a-867231.html

The IMF believes that the only way Greece can reduce its sovereign debt to the target level of 120 percent of gross domestic product in the next decade is by way of another partial default. This time, however, it wouldn't just be private creditors who would lose out as they did in the debt haircut carried out this spring. A second such cut of Greek debt would force international creditors, Germany included, to write down a portion of the billions they have loaned Athens. A 50 percent default would result in Germany losing €17.5 billion of the €35 billion it has loaned Athens thus far.

 

[Randolph Kinney]

Next Taxpayer Bailout? Pension Benefit Guaranty Corp.

http://www.sfgate.com/news/article/US-pension-insurer-runs-record-34B-deficit-4044674.php

The federal agency that insures pensions for more than 40 million Americans last year ran the widest deficit in its 38-year history.

The Pension Benefit Guaranty Corp. says its deficit grew to $34 billion for the budget year that ended Sept. 30. That compares with a $26 billion shortfall in the previous year.

Pension obligations grew by $12 billion to $119 billion last year. Assets used to cover those obligations increased by only $4 billion to $85 billion.

The agency has now run deficits for 10 straight years. The gap has grown wider in recent years because the weak economy has triggered more corporate bankruptcies and failed pension plans.

If the trend continues, the agency could struggle to pay benefits without an infusion of taxpayer funds.

 

[Randolph Kinney]

Obama Begins Push for New National Retirement System

http://www.nationalseniorscouncil.o...ent-system&catid=34:social-security&Itemid=62

 

[Terrel L. Shields]

The federal agency that insures pensions

gotta keep old GM and Chrysler alive somehow...

Push for New National Retirement System

How long before they decide that royalty and rents are "unfair" and seize them as well. Mineral rights, rental farmland, any passive form of income...

 

[Randolph Kinney]

Japan shuns fiscal cliff, won’t escape growth funk

http://blogs.reuters.com/breakingviews/2012/11/14/japan-shuns-fiscal-cliff-wont-escape-growth-funk/

 

[Workbox]

gotta keep old GM and Chrysler alive somehow...

How long before they decide that royalty and rents are "unfair" and seize them as well. Mineral rights, rental farmland, any passive form of income...

Seen that show "Revolution" where the lights go out and they make the Militia as the bad folks. ...............Seems to me like pre-social conditioning.

Is that not how The United States became to be? Due to the Militia's? Commanded by George Washington!

I am not a conspiracy person, just an Appraiser.