Tuesday, March 18, 2008

BULLSHIT!









Bush Seeks to Give Assurances On Stability of Capital Markets

WASHINGTON -- Amid heightened concerns over the state of the world financial system, U.S. President George W. Bush gave assurances Monday that capital markets are working smoothly, adding that the U.S. is "on top of the situation."
"One thing is for certain, we're in challenging times," Mr. Bush told reporters after meeting with his top economic aides. "But another thing is for certain -- that we've taken strong and decisive action.

"The United States is on top of the situation," Mr. Bush said.
http://online.wsj.com/article/SB120578005997442619.html?mod=googlenews_wsj


Dollar rebounds after Fed rate cut

NEW YORK (CNNMoney.com) -- The U.S. dollar moved higher against several major currencies Tuesday after the Federal Reserve cut interest rates by three quarters of a percentage point - a less aggressive move than some investors were hoping for.


Gold Tumbles as Fed Cuts U.S. Interest Rate Less Than Expected
March 18 (Bloomberg) -- Gold futures tumbled as much as 2.7 percent after the Federal Reserve lowered U.S. interest rates less than some investors anticipated, bolstering the dollar and reducing the appeal of the precious metal.



BULLSHIT! Mr. President, the United States is FAR from being on top of the situation, but they're definitely the ones behind it...

BULLSHIT! The US Dollar moved higher in a short squeeze of the Dollar Bears lined up for a one point cut. End of story, and end of the Dollar.

BULLSHIT! Gold is up 39% since the Fed began cutting interest rates last Fall. Do you really believe Gold is going to go down after the Fed just cut interest rates ANOTHER 75 points? Do you really believe that people would suddenly dump their gold to buy stocks? Do you really believe that the Fed has fixed anything?

Damn it people. Gold and Silver are on sale this afternoon. Go buy some more. NOW!



U.S. net capital flows slump to $37.4 bln in Jan

NEW YORK, March 17 (Reuters) - Net overall capital flows into the United States in January fell to its lowest in four months, as private investors shunned U.S. assets, data from the U.S. Treasury Department showed on Monday. January's inflows slid to $37.4 billion in January from $72.7 billion in December. The inflows were not sufficient to cover the month's U.S. trade deficit of $58.20 billion, which economists say in the long-term would put downward pressure on the dollar.


Foreign Bond Holders Vote No Confidence

Asian, Mid East and European investors stood aside at last week's auction of 10-year US Treasury notes. "It was a disaster," said Ray Attrill from 4castweb. "We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed."

The share of foreign buyers ("indirect bidders") plummeted to 5.8pc, from an average 25pc over the last eight weeks. On the Richter Scale of unfolding dramas, this matches the death of Bear Stearns.


Bernanke Driving Nails in Coffin?

Against this backdrop, the Bernanke Fed continues to make history before our very eyes. Day after day, move after move they place another nail in the coffin and further cement their role as the facilitator of the next US Depression. So perfectly wrong has Fed policy been over the past 18 months that it will likely become the test case for what not to do in the future. This should not be a surprise to anyone. This is all they know how to do. The irony here is that Ben Bernanke has always thought that the reason we had the Great Depression was because the Fed didn’t print enough money. So now he will take us back there again, this time by printing too much. The Planners are limited by their understanding of economics, and more importantly, their lack of desire to do anything politically unpopular. The fact that we are in an election year will only exacerbate the situation. There has been much talk, but precious little meaningful action and even that has been dead wrong.


US Feb PPI up 0.3 pct; core PPI up 0.5 pct, largest gain since Nov 2006

WASHINGTON (Thomson Financial) - US inflation at the wholesale level rose modestly in February, though core inflation, which strips out volatile food and energy prices, rose at the fastest pace in more than a year, the Labor Department said today.
The department's Producer Price Index, which measures inflation pressures before they reach the consumer, rose 0.3 pct in February following a 1.0 increase in January. Core inflation rose 0.5 pct for the month, the largest gain since November 2006. In January, core prices rose 0.4 pct.


US February housing starts down 0.6 pct to 1.065 mln unit annual rate
WASHINGTON (Thomson Financial) - US builders started work on slightly fewer new homes last month, but cut back severely on starts of single-family houses and in acquiring permits for future construction.
The Commerce Department said US February housing starts fell 0.6 pct to a 1.065 mln unit annual rate, down from 1.071 mln units in January. This was a decline, however, only because January starts were revised up from the 1.012 mln units first reported.



The BULLSHIT Detector makes it clear then that what we witnessed today in the stock markets, in Gold , and in the Dollar was PURE BULLSHIT. The truth laid out for you, hidden behind the the BULLSHIT headlines of the day. The TRUTH is out there if you're willing to look for it. NOTHING! I repeat, NOTHING, has changed today for the better for the Dollar, for stocks, for housing, for credit availability, for jobs, or for the economy. NOTHING! NOTHING! NOTHING!!!

I am seething at this afternoons criminal activity at the NY COMEX regarding Gold and Silver. I have no further comment at this time accept to say once again, BULLSHIT!




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