Perhaps the credit crisis is ending. LIBOR is falling. The Fed seems as focused as a laser on easing the shortage of dollars around the world. The new dollar swap lines with Brazil, Mexico, Korea and Singapore were cheered in those areas and emerging market stock prices rose explosively. Time will tell, but the pattern of steady improvement now seems positive.
Now we all know that the "moral hazard" gripe is truly a canard of the pharisaic libertarians who want to let the beefers and ruling classes turn the common man of the world into serfs to be ruled.
Battleship Ben is truly showing fine mettle and is using his ammunition - an endless supply - with great effect now. His grade last year - 2007 - was about "D". He started out this year with a "C" and has been acing exam after exam, so it's now perhaps even a B+. I guess he reads this blog as the parsimonious growth of the monetary base prior to September has been replaced with a massive increase since then. That's needed to make up for a few years' of slow growth in that crucial measure that probably created part of this mess. Those errors were caused by that silly infatuation with "fighting" non-existent inflation.
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None. I was jocularly accused of being a perma-bear in yesterday's comments. Sheesh ... my Alpha Fund is long about 150% with a number of extremely economically sensitive stocks, viz., CVX, DVN, RIG, FCX, BHP and smaller positions in EXM, DRYS, GNK, JOYG and MBI. As soon as this wave of beefer liquidations and misguided public selling of mutual funds runs its course, a grand new bull market should commence. Perhaps it has already begun.
Word of the Day
"Apropos" - adjective, preposition and adverb [$10]; this word we use a lot but not might know its precise meaning; also, the final 's' is silent.
Apropos means (adjective) to the point or purpose; appropriate; (preposition, often followed by 'of' colloquial) in respect of, concerning; (adverb) 1. appropriately, 2. by the way, incidentally.
Sentence: Apropos suggestions that Bunkerman is a perma-bear, he was bearish for about two weeks after the idiotic libertarian Republicans first defeated the Paulson plan. Going to cash in the Alpha Fund on that event did, however, him quite a bit of money, though.
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10 comments:
early vote is going to kick little John in the sack....
who is motivated to vote early if given the chance?....for sure... the college crowd...who might say ahh f^^^ it..lets get a beer.....give em 2 weeks though..and they'll find the time....
republicans???..."Hey the markets in the shitter,the wars are going great!!!!...wheres my shoes??..Im running down to VOTE FOR JOHN McCAIN BABY!!
lol, yes, the absolute failure of the R's to reform and cut spending when in power is a huge cement overcoat for Big John.
but who knows. How can anyone trust Obama the Knave.
true, spin, and college crowd can use peer pressure to get them down in droves to vote as groups.
is Mrs. B ready to deploy another slug of cash bunkerman?
She is being patient. Probably will wait awhile. She put a good bit to work already. Just one slug left to go for now.
Bunky...you suspect non posters will use this bounce to launch massive tax loss sales..perhaps the end of next week around spiddy 1000-1050.
MOOOOOOOOOOOOOOOO!!!!
enjoy boys
have a good weekend papabear :)
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