So, uh... About that debt ceiling.

[Broncojohnny]

And I'm telling you that they're going to be pumping extra fiat into the system to even keep up a decent trailing pace.

China will keep trying to push an IMF/World Bank-based currency or SDR.

This just in... FED made no change to the rate as of 20 seconds ago.

I think most people expected them to keep going with QE2. I'm also not surprised about rates. I thought we had a good chance of an increase but after I read more I changed my mind. I'll be really shocked if we don't see a quarter point increase by October as long as unemployment stays under 9%.

[Denny]

I think most people expected them to keep going with QE2. I'm also not surprised about rates. I thought we had a good chance of an increase but after I read more I changed my mind. I'll be really shocked if we don't see a quarter point increase by October as long as unemployment stays under 9%.

I do agree with that. That'll at least be a little justification to raise .25 Hell, they might no matter what.

[Broncojohnny]

I do agree with that. That'll at least be a little justification to raise .25 Hell, they might no matter what.

Once they start raising they probably aren't going to stop unless they economy takes a dump. The last time they got on a streak it was raised 17 times straight if I remember correctly. Hell, if you ask me they caused a lot of the housing crisis, the rates on ARMs reset to really high rates because of their bullshit. They should have seen that coming and they didn't.

[Denny]

Once they start raising they probably aren't going to stop unless they economy takes a dump. The last time they got on a streak it was raised 17 times straight if I remember correctly. Hell, if you ask me they caused a lot of the housing crisis, the rates on ARMs reset to really high rates because of their bullshit. They should have seen that coming and they didn't.

Either way (raising the rates or printing) will crush this weak economy. They'll do both, I believe.

[TexasDevilDog]

Out of fiat currencies period. LOL

I just need to be in something going down slower than the usd. My 6,000 shares of Nokia are well today. Caught that falling knife at $8.06 back in March. I have another $140k to throw in commodities.

[Denny]

I just need to be in something going down slower than the usd. My 6,000 shares of Nokia are well today. Caught that falling knife at $8.06 back in March. I have another $140k to throw in commodities.

Well, as long as the FED stays away from interest rates, commodities SHOULD be good.

[Denny]

Here's a good read

http://www.theatlantic.com/business/archive/2011/04/what-a-crisis-looks-like/237849/

[Denny]

There goes gold... stand by for silver

Aaaaand there goes silver (both back in the green for today).

LMAO!!! I can't wait to see what Benji has to say in about a 1/2 hour.

[Broncojohnny]

Here's a good read
http://www.theatlantic.com/business/...s-like/237849/

My response to that is that she has a good point except for the fact that China knows it will be shooting itself in the foot if it announces it is suddenly not going to buy any more of our debt. They export too much of the shit they make to us and the net result will be another meltdown and a lack of consumer spending.

[Denny]

My response to that is that she has a good point except for the fact that China knows it will be shooting itself in the foot if it announces it is suddenly not going to buy any more of our debt. They export too much of the shit they make to us and the net result will be another meltdown and a lack of consumer spending.

It might be worth it to assume the role as the biggest say to what the new currency of trade is.

[jakesford]

My response to that is that she has a good point except for the fact that China knows it will be shooting itself in the foot if it announces it is suddenly not going to buy any more of our debt. They export too much of the shit they make to us and the net result will be another meltdown and a lack of consumer spending.

This...

If America is the crumbling dam, China is first city downstream.

[Denny]

Sounds like the FED is maintaining course... just sayin'

[Broncojohnny]

Sounds like the FED is maintaining course... just sayin'

Which in one respect is good, they are going to bring QE2 to an end and aren't mentioning any more bullshit. Although they did say they might sell some of the junk assets off of their balance sheet and buy more assets. Some say that would be a QE3 but I'd make the argument that it isn't since they printed that money off long ago when they bought the junk to begin with, IE that money is already out there in the money supply.

I'm interested in what the unemployment numbers are going to be next Friday.

[Denny]

That's one way to hide it...

[SMEGMA STENCH]

Maybe once they cause WW3 they'll care? Probly not. Unless it results in the losing office over it. But people would likely still elect them so I guess that isn't a problem for them. You could hype up a rotting corpse and people would vote it into office.