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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (123259)9/18/2001 1:19:06 PM
From: patron_anejo_por_favor  Read Replies (3) of 436258
 
My comments on the recent market intervention(s):

Message 16354877

I'm not surprised that the liquidity pump is going full blast, but the fire hose has some major leaks:

stls.frb.org

Despite all the pumping going on all year, C&I lending was continuing to decline and the CP market was drying up, even before the WTC atrocity. It's clear to me that we're seeing major liquidity trapping on a scale not present in the US since the great depression. Therefore, throwing "liquidity" at the system will do what Noland predicted....it will seek inflating assets only. More malinvested ClownBux in flames, it seems, further delay in writing down non-performing assets and clear cutting the economic underbrush. The Fed is a bunch of charlatans, being led by the most dangerous man on earth (with apologies to Osama Bin Laden, who's running a close second, but closing fast in the stretch).

This will end soooo badly...(hell, it already is)
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