Economy update (Metlakatla: rent, job, news)

[User 2]

I love watching C-Span....

Testifying before Congress yesterday, Fed Chairman Ben Bernanke is talking about how we are in a slow-moving financial crisis, ....one in which large financial institutions are insolvent .

....that sounds a little blunt, no?
.
..

He's also talking about providing institutions with the life jackets they need to paddle to shore.

Sounds as if he's describing the plot line in a children's book.

update:

All the moves the Fed has taken in the way of 'easing',
......has had no effect on the cost of capital that the financial markets feed to the "real economy,"

....and hence that Fed policy today is no more stimulative than it was last summer.

Back to that blunt talk again, eh?

Sheeesh....
.
..
.
.In other news, wheeeeee:

Citigroup has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, the Wall Street Journal reported Friday.

Citigroup Hedge Fund Withdrawal - Financials * US * News * Story - MSNBC.com

What's in your wallet, ........?
.
..

[User 2]

A fresh batch of data on Friday presented a bleak picture of the economy, with rising prices of imported goods, struggling manufacturing and an erosion in consumer confidence...

The price of imports rose 1.7 percent in January and was up 13.7 year over year, the highest annual rate since the Labor Department records began in 1983.

Fuel costs led the rise, ballooning by 5.5 percent last month.

American companies are also charging more for food, industrial supplies, and agricultural products.

http://www.nytimes.com/2008/02/15/bu...5cnd-econ.html

[forgetwho]

Re USER 2's post:

Citigroup Hedge Fund Withdrawal - Financials * US * News * Story - MSNBC.com

What's in your wallet, ........?
.
..[/quote]
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Makes you wonder how far behind personal bank accounts can be...

BTW, I don't post often, but I want to take this opportunity to thank you, USER 2, for your posts and links, especially on the economy, climate change, and the environment. You are right on target, and you document your sources. I make a point of reading your posts for information.

[User 2]

Originally Posted by forgetwho

Re USER 2's post:

BTW, I don't post often, but I want to take this opportunity to thank you, USER 2, for your posts and links, especially on the economy, climate change, and the environment. You are right on target, and you document your sources. I make a point of reading your posts for information.

Aw, shucks.....

Well, ....thanks.

Though, praise is not something I'm seeking, and most of the information that I offer was offered by some other entity first, and they are the ones who really deserve all our appreciation..

...I'm not shunning your appreciation, or marginalizing it in any way, I am appreciative of your stating your appreciation,

......it's just that it causes me to reflect on a couple of different aspects of posting....

One, I would prefer not to be personally made a part of the discussion of any issue, and it seems somewhat odd that there is so much resistance to simple factual information being offered in the first place.

Seems if one doesn't just put a happy face on whatever reality shows may not be so happy, some folks want to demean or disparage whoever they think is intruding on their fantasy, when actually, it's reality that is intruding on their fantasy, they just don't wish to acknowledge it.

I post what I post because I believe people have not only a right to know the truth, but a responsibility to acknowledge that truth.

I'm not the definer of that truth, and I'm not the arbiter of what they may do with that truth, ....but I will, as I always have, take great pains to try to present well sourced factual information so that others have access to it.

......thanks again,......

[Nephler]

/ watches as User 2's head swells

Just joking with ya

[forgetwho]

Okay, I promise never to praise you again... :-)

I agree that people have a responsibility to acknowledge the truth. In fact, people have a responsibility to FIND OUT the truth, which can't happen without acquiring basic information about the world we live in. Willful ignorance drives me up a wall.

Hand-wringing About American Culture - Are Americans Hostile to Knowledge? - New York Times

[Rance]

it seems somewhat odd that there is so much resistance to simple factual information being offered in the first place.

I think it's "how" you present your arguments and your facts.

[Classic Satch]

Originally Posted by Rance

I think it's "how" you present your arguments and your facts.

This guy is a jackass of epic proportions. My wife actually decided to make a post the other day regarding a completely innocuous subject and User 2 made it a point to deride her opinion(not knowing that the poster was very knowledgeable on the subject in question, which makes his ignorant arrogance even more egregious), and he totally disregarded the fact that her familiarity of the subject was completely credible.

I really don't know how you regulars of this forum can put up with this guy's nonsense. He is the jack of all trades and definitely, most definitely, master of none. The possession of a wide vocabulary most assuredly doesn't signify the veracity and/or truthfulness of one's opinions.

From all that I've seen, Mr User 2 has nothing better to do in life than to iterate mostly nonsensical versions of contemporary "progressive" group-think and belittle those of whom that post here who have even a slightly different view on whatever subject is being discussed.

[Metlakatla]

I like him. But then I like you too, Satch

[Classic Satch]

Originally Posted by Metlakatla

I like him. But then I like you too, Satch

Thank you. What he did to my wife though is despicable. This a-hole thinks that his knowledge is all-encompassing. My wife registered and commented on a post to some other member about a completely harmless subject and User 2 ripped her up. My blood was boiling. My wife knows precisely what she's talking about and I'm withholding the final ammo on just how "knowledgeable" she really is. Plus, his rep count is absolutely pathetic when correlated against his posts. I wonder why?

How are you Metlakatla? Are you in Montana yet? Forgive me if I'm behind a bit, my job, my wife/munchkin, and the fact that my mother is here have stripped away my 'Net time.