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I'm sorry Google! I'm sorry Blogger!
Monday, August 06, 2007
A week or so removed from the fiasco that was an aborted name change for this blog, sincerest apologies are offered to both Google and Blogger for their "intervention" of sorts, clearly seeing the bigger picture better than your humbled scribe as exemplified by the graphic below:
This WSJ MarketBeat offering just wouldn't be the same with any other name.
5 comments:
Jim Cramer had a meltdown on CNBC while expressing his view that the Fed has no idea what is going on and it has to cut rates quickly, video is available here: http://www.youtube.com/watch?v=SWksEJQEYVU
Not sure if Cramer has ever taken a macro economic class, or not. But the idea that the Fed should cut rates just so people can refinance and not lose their houses and so people on wall street who have been raking in cash for years now while engaging in riskier and riskier activities is ridiculous and unfair to everyone who did not buy a house they could not afford and who does not work on wall street.
Unfortunately, the Fed is weak and will bow to public pressure (as soon as people start to see their retirement money go down in value they will start to crow) It is just a question of how long the Fed will hold out. Certainly when the economic nitwits in Congress (Barney Frank, Lindsey Grahmn, the two senators from NY, etc.) start pounding away at them to score points with the average American they will cave. My bet is that they will cave even quicker though.
Cramer's just covering the "call" he's sold everyone, methinks.
Vis-a-vis the blog name, please don't dismiss the original; I don't think I'm alone in suspecting it'll be relevent for some time to come.
Hey Tim,
Today must be one of those growing number of "divergence" days. You know, where the S/P goes one way and commodities .... well you know.
;)
great to see you in the main stream media though. next they will be paying you direct adn you can forget about the markets.....
This is from today's op-ed($) page:
As always amid a credit turn, the pleas for easier money are rising. We're even hearing nostalgic cries for the return of Alan Greenspan, who is remembered fondly for supplying liquidity during the credit crises of his era. But what these cries forget is that the Greenspan Fed is one reason for the current mortgage mess. It's tempting to blame Wall Street and other bankers for all those bad residential loans, and they are paying the price now. But they were also lending into a housing asset bubble fed by easy monetary policy. Risky mortgages always look better when home prices look like they'll never decline.
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