"Vesuvius is rumbling"...

The fact that Congress is thrashing about 'doing something' means they know the public is hot.

The problem is - they're, by and large, that nasty combination of arrogant and stupid.

They don't know anything about markets or economics, but they think they do. So they do things like sue OPEC, instead of screaming about the Fed's slosh being used to loot their constituents.

Interesting the Bernake is creating a crack-up boom, and that he somehow thinks this is preferable to deflation, or that he didn't know the deflation he seeks to avoid is a guaranteed crack-up boom outcome.

I don't know that congress will get it until their friends on wall st start taking the high jump. I think that there is very little fininacial savy in congress and in their staffs. So they don't get it and their staffs insulate them. Oh they hear some noises but the interperation(by themselves or from the staff) is bleating from the lambs. Sort of like countrywide CEO thoughts were. I don't care at least I can tell my congress criters I told you so as I signed the petition yesterday.

Chris
That that is unsustainable can not be sustained forever.
Sustainable processes require a sustainable infrastructure thus must ( through intentional or unintentional means) be integrated into a larger system.

Genesis, you smacked that ****in' nail on the head. In fact, you may have driven the spike through the 2x4 and into the US Treasury's and Federal Reserve's hearts.

Bravo!

Hank is saying he wants a stronger $ but Ben's and his actions are speaking, aren't they?

Today, we are not playing Texas Hold 'Em at all. Everyone is in a game of Indian Poker. I can see their cards but to remain in the game I cannot look at mine and remain a retail investor at the same time, can I? The **** stick savers are cheating us out of our money...just like always...right thru the used value of our $ and used price of our bonds...Nothing Else Matters!

Speaking of the little lady...where has she been, lately?

Genesis, you are uncovering stones that have always been hidden from us.

The Last Stone: ITS TIME TO AUDIT THE FED'S BOOKS, Bro!

Their books have always been a secret. Many outspoken allies have wanted to do just that with dire consequences, and yes, not one ****in' audit.

Do not push that issue too hard. Be careful even tho' this is nothing more than the 'net'. 'Net' is more than just alot of written hot air. You more than I know this.

Transparency is a spoken word. Ben's actions speak a different story!

May God Bless You And Your Family

Bravo, Bravo, and I am standing.

Genesis, do you know if anyone in Congress or the Senate read your daily Ticker? I do hope for our sake that they do. But if they don't is there a way to get them to read it?

They may be stupid in causing the OIL spike, or is it they just don't give a dam?

I fax it to a fairly significant number of them on a daily basis, including the three primary Presidential candidates, Bush's office, and all three of my Congressfolk.

On some days I send it to a much wider audience; today's went to the Joint Economic Committee, as an example.

Karl, I think you've got something there on the flight to safety from Treasuries to commodities. A technical break in the yields going higher would prove your point under the supply issue you talked about last night right?

Karl,

Do you ever get any indication from the president, or the three candidates that they read or care about your faxes?

Who knows if they're reading them or not.

Let me put it this way - if you don't stand up, I dont' want to hear you whine when the consequences are served and you're forced to eat them. In fact, I will be one of the people rubbing noses in it for failure to act and stop it.

Those who claim that "we the people" can't stop this are simply wrong. "We the people" have stopped five (at last count) illegal immigrant amnesty bills in the last year and change.

We can stop it.

We just have to give a ****, and most people don't.

Quote:

It is about the fact that Mr. Bernanke, aka "The Wizard", has debased the former "safe haven" for money, that is the Treasury market through his "alphabet soup" games, and Paulson and Congress have done their part by blowing $450 billion in stimulus checks and housing bailout proposals. The result of all of this is that people are now looking for somewhere else to run to when threatened by fear in equities, and right now that "somewhere else" is OIL!

You need to start your own news channel...

I understand. Just wondering if you actually get any response. If I get anything at all it's just form letters. I was curious if you were faring any better.

Once in a while, but most are form letters, yes.

Very nice work, as usual, Genesis. With your permission, I'd like to fax this to few of my representatives.

Absolutely - but you need no permission to fax or email my Tickers around - that's why I publish them

Even if ignored, there is no alternative but to try. I had a one hour session with the most influential member of the HFSC. I had his rapt attention for an hour. There is no way he did not get the message that this is an "urgent" problem that needs to be addressed. The discussion even included a $5 trillion loss estimate for CDS counter party failure, suggesting congress had to get "out in front" of this and not make it even worse. Congress has two problems: who has the political courage to do this? and why should they listen to me when the mainstream has them convinced everything is "normal", i. e. if they wait long enough to let this temporary slowdown to pass, marking the illiquid "assets" to market can be postponed until the housing market recovers. Not my logic.....theirs.

Yeah, with the bigger problme being that once it becomes obvious that the "mainstream" thought is wrong, its too late.

The bond market the last few days is sending a strong warning.... let's hope some of these fools are listening....

Anyone having problems getting into this ticker?

Looks like the site where its hosted is having some sort of intermittent problem. Try in a bit.

Thanks

great stuff, even a guy like me can take it in.
I do tend to connect oil price with declining dollar more than flight to safety in oil as I didn't think speculation is adding much there (is oil *really* being pumped into a free market - aren't producers making supply deals directly to end users and locking in contracts?)
I think there has to be a **** hit the fan moment before the right course of action is taken... a big 'I told you so' will carry a lot of weight then. Seriously, the people will be demanding proper old fashion statesmen who know their business and are pragmatic. The times produce the man (or woman)???

I think it more prudent to start the elected officials, towards wallstreet and the concepts "free markets", "self regulation" and criminal activity and or complete ignorance (no one is stupid?).

Congress has little power to wipe its own ass, let alone fix such a debacle, as this.

"So FED spinmeisters, you caused this, so how much American suffering is this going to cost all of us?"

Great ticker: lots of (bad) omens here