Les; What they don't understand was the cuts last year were
excessive, and that intervention was nothing but a bandaid to
keep the money monkeys who took over LTCM from paying for
their mistakes. Using money swaps when the rates hit the low
point they got into the market at a 8% discount to most investors
as CreemSpans idiotic move dropped the dollar like a rock.
And I said then when the dollar works it's way out of this hole
Spam put it in with his slight of hand, then we will still pay
that 8%, now taht it's up back up (the $ ) they are taking
profits, .
The thing is it's crooked as a snake but not against the law,
and the dumm ass democrats can't see the forest because all
they look at is one tree. AS far as the FED upping rates now,
crap the horse has already been stolen, either way you lose
because you can't undo the excess of last year, thinking
it can be done begs the question of where did the money
go, as it's gone. ( I know where it wound up and it's just
gone it was spent on high living and over building of plants
in Asia that are now sitting for the most part idle or churning
out chips at a loss because they built like crazy
and ( on credit) before they had enough market.
If he don't up rates we won't sell bonds to float this cockeyed
system, if he does it will slow things down, this is a no win
situation because you can't undo the excesses of the past by
playing GOD with some money, you only get out of the
whole with work, and here again is where the other side goes
nuts..they freak out if every one has a job.
-------------------
Any way either way we get shafted because of the stumble bums
that have for years thought there was some way to make it all
work, without work. From the Yen carry trade to the mountain
of derivatives none of which do one thing to help out the
economy except to relive it of the fruit of it's labor, and
to tax it to it's limit.
We are faced with rasing interest rates or shortly
not having the money to fund the Government, I'd like
to ask them arse holes if they will take a pay cut !
Jim
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