Saves,
Geithner. Just the name reeks of the fraudulent, lying, tax-cheating, assclown that he is.
When Little Timmy speaks, I work from one simple premise. That is, 100% of what is says is a pure lie. Timmy isn't even bright enough to tell the truth 25% of the time to keep them guessing (like Bill Gross does 75% of the time).
As for the Fed, well they are the government, but they are not the government, and they are public, but they are private. And yada, yada. The Fed likes it that way.
Denninger has sent up an alarm tonight regarding the forex. He thinks it is signaling chaos and is about to spiral.
market-ticker.org
I think he is spot on. The part I can't figure out is of course the long end of Treasuries. They should have started crashing a few weeks ago, even with the front-running candy tossed out there for the street to nibble on. Anyone buying them has simply been killed in real terms, but the yield on the Ten is still below 2.5% That is nothing short of insane and must be the result of some serious <magic> behind the curtain.
The one great positive out of all of this is that Ben Bernanke is a DEAD MAN after this plays out. If that guy thinks he is going to slip out the door and teach again, he is in for a rude awakening. Americans are a slow and ignorant bunch, but eventually they figure it out. And when they do, no street in the WORLD is going to be safe for Bennie the Clown to walk alone. Not a lot of upside for us sheeple, but it's something.
GT
TH |
