I'm trying to drum up some signatures from my friends and family, but to be honest, we're not a very market-savvy circle and I don't think the point of the petition (nor the impending crisis potential) will be very well understood. For my kind of folks, I think the things to point out are gas and grocery price hikes, and "the next Enron brewing but far far worse". Not sure how else to explain it to grandma... Can anyone sum up the problem and the need for action into a disseminate-able nutshell better than that?

Anyhow, off to the mailing lists. Thanks again Gen, Gmak, Nothing, Pat, and everyone else.

To the rest of the lurkers: the petition really takes 60 seconds to sign/validate. It's not another BS online petition because Gen actually prints and FAXES this (at his expense) to congress. You don't end up on any weird mailing lists (UNLIKE when I emailed Barbara Boxer). There's a whole forum set up to discuss it as well, if you have concerns or disagree with the intent -- otherwise, why would you NOT sign it?

I got this reply from a reporter after forwarding info KD covered in this ticker and the 15% in the FF rate. Interesting perspective.

Quote:

thanks for pointing that out. is quite interesting. i did some poking around on this today, tho, and i wouldn't take too broad a read on it. it was a single shot deal and the market hadn't gapped up prior to that price clearing. seems that a bank got caught out, posisbly on teh back of some kind of admin screwup, and left itself open to being taken out and flogged. what is funny is that people will allow themselves to be toasted this way rather than go to the discount window. so far, tho, people in that neck of the markets aren't seeing it as a canary in the coalmine type event. the read is that someone screwed up and got their head handed to them.

but thanks again for bringing up. quite an interesting situation

Why does the market go up despite falling fundamentals. Dean Baker said it so well in August's Midsummer Meltdown, where he explained the stock and housing markets are overvalued. Baker warned early on housing, several years ago.

Dean Baker says asset prices deviate from fundamentals in the short term because they are driven by PSYCHOLOGY, so they overshoot and undershoot. In the long term, earnings determine prices; rent is earnings for houses.

As far as the petition, I sent it to over 10 people, but know only for sure that one person signed it. I have advertised Karl's message for several months on my website, and brought him some traffic (how much, only he would know). What else can I do? Picket!

I have thought often about a short message to put on a picket board, and walk for several hours every day at a busy intersection near my house. Any ideas on what to put on the picket?

Sure, put:

market-ticker.denninger.net

on the sign.