06:54:02 ME : morning
06:54:07 *** FRIEND 2 acknowledged the chat request.
06:54:37 ME : obama meeting with jintao at g-20 meeting in
06:54:43 FRIEND 2 : good morning
06:54:48 ME : to "try to stabilize financial markets"
06:55:13 ME : i stand by analysis yesterday
06:55:20 FRIEND 2 :
has been letting the currency move, China
so hopes are for a comprimise
06:55:35 ME : we'll see more 'fiscal responsibility' talk
06:55:52 ME : i think we'll see that by letting the tea
partyt folks carry the ball
06:56:26 ME : the political calculation for obama and the
dems is that without the gov't spending , the economy falters again
06:56:47 ME : giving a clear counterpoint for 2012
06:57:03 FRIEND 2 : Paul Krugman is the cheerleader.
06:57:09 ME : but it balances the demands of the creditor
nations and the political opposition domestically
06:57:20 ME : what's he saying?
06:57:27 ME : i don;t pay attention to him
06:57:30 FRIEND 2 : spend, spend, spend
06:57:36 ME : what a joker
06:57:45 ME : what was he saying in 2005/2006?
06:58:03 ME : guys like him and tom friedman have zero credibility
06:58:08 ME : in my eyes
06:58:14 FRIEND 2 : agree
07:00:32 ME :
07:00:37 ME : what do you m ake of this?
07:02:20 FRIEND 2 : scary. our military must have tracked it,
but isn'y saying anything.
07:02:40 FRIEND 2 : sounds like a warning.
07:02:46 ME : it does
07:02:56 ME : jet contrails break up
07:03:03 ME : so that story doesn;t m ake any sense to me
07:10:06 FRIEND 2 : I am surprised it has not attracted more attention
07:10:30 ME : dude, our mainstream media are ore
propaganda than pravda back in the day
07:10:35 ME : more
07:10:46 FRIEND 2 : this could be a serious breach of our defense
07:11:00 ME : or is it really ours?
07:11:11 FRIEND 2 : i liked living in
because the news london
was reported so much differently
07:11:32 FRIEND 2 : why launch near the shore?
07:15:09 ME : so its not actually an act of war?
07:15:23 ME : just a reminder we have the technology and they don't?
07:15:39 FRIEND 2 : could be. why is it not of more concern?
07:16:09 ME : but just because it's not being reported
doesn't mean anything
07:16:44 ME : either way
07:16:54 ME : i mean 'yes, nothing to see here'
07:16:59 ME : approach
07:17:26 FRIEND 2 : scary
07:18:19 ME : so the grand bargain is china lets CNY rise
further in exchange for more power at IMF?
07:18:29 ME : thats being reported on bloomberg tv
07:19:03 FRIEND 2 : Goldman saying so.
07:40:06 ME : what i postulate is already happening!
07:40:19 ME : news of gingrich out there adopting the anti-fed talk
07:40:24 ME : what a shill
07:40:31 ME : these guys are a piece of work
07:47:20 ME : who emerges as 2012 contenders?
07:47:26 ME : palin and gingrich are has beens
07:47:37 ME : christie?
07:47:45 ME : rick perry in texas?
07:48:19 FRIEND 2 : romney is my bet.
07:48:30 ME : ugh
07:48:39 FRIEND 2 : not the right guy, but palatable to the voters
07:48:51 ME : he doesn;t stir the passions of the tea party folkks
07:48:57 ME : he was in favor of tarp
07:49:03 ME : i believe
07:49:51 FRIEND 2 : i don't know, but i do think the tea party
influence will diminish as other issues demand attention
07:50:18 ME : like what?
07:50:28 ME : economy is the main issue
07:50:48 ME : here's a good for instance
07:50:49 ME :
07:50:55 FRIEND 2 : for now, but other issues such as war,
education will resurface
07:51:14 ME : the establishment calling for the death pof
the dollar as reserve currency
07:51:31 ME : but then desiring to continue the policy
regime that got us into this quagmire
07:53:19 FRIEND 2 : the party in power always continues the
policy regime. otherwise it is suicide.
07:53:29 FRIEND 2 : politically speaking
07:53:39 ME : it is suicide because the entire structure
is now akin to laying on top of a live grenafde
07:53:47 ME : can't get up off of it
07:53:54 ME : or the whole thing explodes
07:54:20 ME : so we will continue to lay on top of the grenade
07:54:30 ME : as the foreign troops advance on us
07:54:32 FRIEND 2 : yes. growth is the only anwer. the
question is "how do we get enough of it?"
07:54:37 ME : which way do you choose to die??
07:54:50 ME : but we are not going to grow by laying on
top of the grenade!!
07:55:11 ME : just a slower death
07:56:17 ME : median income in the
is down over the U.S.
last 30 years
07:56:29 ME : while the economy has doubled??
07:56:40 ME : incredible
07:56:52 ME : then there's this
07:56:53 ME : http://research.stlouisfed.org/fred2/series/EMRATIO/
07:57:21 ME : so... lets outspource some more jobs?
07:57:30 ME : thats the answer??
08:24:56 ME : do you work tomorrow?
08:31:56 FRIEND 2 : No. Bonds off, stocks in
08:32:26 ME : ok
09:12:43 ME : yen is the safe haven currency
09:12:48 ME : love it
09:12:55 ME : ?
09:13:06 ME : or is dollar still the safe haven?
09:13:15 ME : yen off 1% today
09:14:17 FRIEND 2 : euro off on
, and yen yields to low. ireland
09:15:17 ME : do we get a g20 statement today?
09:15:39 ME : look at bloomberg TOP
09:15:42 ME : ist already happening
09:15:50 ME : Hoenig to speak to house republicans
09:18:16 FRIEND 2 : I think the statement comes out friday or saturday.
09:18:53 FRIEND 2 : thanks i did not see it. new mood in
09:41:10 ME : in what scenario does a sustainable dollar
09:47:04 FRIEND 2 : a) if the euro implodes or b) when organic
growth takes hold.
09:47:11 ME : haha
09:47:18 ME : b)
09:47:19 ME : haha
09:51:09 FRIEND 2 : b may take a while!
09:51:19 FRIEND 2 : a could happen tomorrow
10:03:08 ME : doh
10:07:17 FRIEND 2 : 5 vs 30's back at record wides.should see buying
10:24:28 ME : did you watch the video??
10:26:33 FRIEND 2 : yes. I saw it on the news last night.
looked like a rocket. 1 vapor trail. not 2
10:27:30 ME : you're telling me with the g20 mwwting,
china openly threatening the dollar's reserve role, lowering
credit rating and potentially putting $1T treasuries on offer that its
10:28:06 FRIEND 2 : do they have a sub capable of evading our defenses?
10:28:16 ME : i think its our missile
10:28:20 ME : not theirs
10:28:43 FRIEND 2 : why would we shoot it from LA?
10:29:04 ME : what good does it do if you don;t get the
world talking about it?
10:29:07 ME : even to deny it?
10:30:11 FRIEND 2 : although, most big nations must have the
ability to spot it even if fired from the middle of the pacific
10:30:24 ME : unless this is them even saying 'we have
moved ahead of you technologically'
10:31:08 ME : then there was this over the summer
10:31:09 ME : http://www.youtube.com/watch?v=YnszlJC8iGs
10:31:21 ME : some kind of multi-stage device
10:31:34 FRIEND 2: . i will have to view from home
10:31:50 ME : its a very interesting video
10:32:14 ME : people thought it was a ufo
10:32:28 ME : but it looks like some kind of multi-stage
10:32:38 ME : launched from
, china hangzhou
10:33:43 ME : i'm not a rocket expert
10:33:52 FRIEND 2 : china is the single biggest threat to the world.
10:34:15 FRIEND 2 : followed closely by the us congress.
10:58:59 ME : right on effing cue
10:59:00 ME :
11:12:34 ME : quite a day
11:20:28 FRIEND 2 : yes. the liberal paul krugman was already
complaing about extending the retirement age. anything short of
raising taxes on the "rich" is not goood enough for him
11:21:18 ME : whats your sense of positioning ahead of the holidays?
11:21:26 ME : holiday
11:22:31 FRIEND 2 : I think we are ok. 1st buy back is friday.
we thought monday, so right away.
11:23:27 FRIEND 2 : stocks are happy again
11:24:23 ME : i thought the auction went well given the
spector of armageddon with $1T china treasury holdings on offer
11:25:25 FRIEND 2 : agreed.
11:53:37 ME : "in a surprise move"
11:53:38 ME :
11:53:56 ME : makes the above chat pretty priescent, no?>