Monday, August 17, 2009

Savers, who the heck are they?

Moral: Wherein we consider various folks.


Of the folks, there are those who play the game, as desired by Ben and his bunch, but the game is stacked against the common folk. You see, the mechanism pulls money out with a giant sucking mechanism from the hapless to the fat cats.

Ben, you ought to know better. You sack the savers in order to keep the New York crowd happy. Tsk! Tsk!

Who are the savers? Those who spend less than they make; they don't belly up to your debt window (oh wait, that's for fat cats only); they expect some semblance of return that is more beyond zero than what we see now; in other words, they don't want much; guess what? You have succeeded in seeing that they get NOTHING.

So, you are allowing the fat cat bankers to run over their savers; the banks are making oodles, albeit some of this is purely contrived, yet these folk think that your policy gives them leeway to pay next to nothing.

Last year, you blinked early. Then, you kept driving down interest so as to bolster the 'market' (that sacrosanct entity that is the be-all, in your mind and the mind of others). Too, you just lavished credit as if there were no tomorrow.

Ah, poor Ben, worrying about the economy day and night.

Now, you're talking as if there is no need to exit. Oh, you say, we can do that at any time. Give me a break. Rhetoric is easy.

Why this emphasis on equity and its associated theatrics of casino capitalism? The banks all want to push their savers through some financial planner who is selling nothing more than the chance to lose because of irrational movements in the 'market' (that chimera). The New Yorkers can like their game; it allows big bonuses (not without contrived ways, as said, such as high-frequency trading - and peeks and such -- ah, such ethical practices). But, the FED ought to care for the lowly savers, to boot. In fact, your legacy probably relies more on that than with the fat cats.

You know, Ben, your buddies, the bankers, froze in their tracks, thereby creating the credit problem, for one reason. They knew that their accumulative tricks stacking moral hazard on moral hazard had come home to roost. And, they knew their ilk; yes, untrustworthy is the major attribute; so, with whom could they play? Their sand box was messy.

Guess what? Just as they hoped, you stepped in, big daddy that you are, and cleaned up their little diapers and their sand boxes (at our cost, by the way). Now, they're off and running down the same old greased paths to perdition.

Sheesh, is there ever any learning here that is more than how to maximize the sucking activity?

By the way, you could turn the table just a little. Raise the rate to, at least, 1.0. You know which one.
Also, this message is not a rant. How did this messy state of affairs come to be? Well, we know how. Who can clean up the mess beyond just changing the poopy diapers?

Ben, you need to leave your mathematical brain behind in order to deal with these cats who have led the economy astray. You know that you can do it. Reach down deep for some insight that is grounded on reality, not abstract nonsense. Our poor world needs this.

Out of bullets
Too, then, bound up those supposed best-and-brightest who are really mis-applying what is a beautiful tool. Their only motivation is to increase sucking motion; the hapless stand no chance. As one of them bragged, he does not play any game where he does not have an advantage.

Ah! Poor loser indeed. No wonder the whole thing has been warped to reward only the few.

However, unlike the Marines, who put their lives on the line for the likes of these diapered folk, there is no honor in Wall Street.

Ben, the insight? Talk to Main Streeters, please, and not just in a forum. Go to where they are.


02/11/2015 -- Wikipedia: Zero interest rate policy.

12/05/2014 -- We mentioned "unwind" in August of 2009. Okay, Ben did the opposite and started his QE infinities. But, Janet came along and has tapered a little. Guess what? The DOW is approaching 18K. Who would have thunk it? But, Ben and Janet, who of Main Street (beyond a few - we can talk how many at any time) can eat what comes out of the ca-pital-sino (mostly a game to allow huge bonuses this time of year to the Wall Street (and its ilk) crowd). We addressed the unwind, again, after four years of waiting (Jan 2013), but the doves were too plentiful. Too, when Ben did mention taper, there was a tantrum (all sorts of fits). So, he, and now Janet and her folks, had to talk coo-coo/goo-goo to the investors (say what?) so that they would settle down and not fear the removal of the spiked bowl. In the meantime, savers just sloughed along with no friends in higher places (we can go on about the Lord/Serf dynamics, ad infinitum, and may given that the Magna Charta's 800th is coming up). ... And, to think that we thought that Ben was out of bullets (saw this fact referred to recently; want to know the context? what the heck will get us out of the coming/looming downturn? -- oh yes, the general populace, and taxpayers, cleaning up the poopy diapers without any thanks).

12/05/2013 -- If only Ben would put a shot across the bow.

10/03/2013 -- Oh, yes, two posts (Fed-aerated and 7oops7), but no mention of savers being slapped silly. Notice in the savers post that an image says no bullets left. Ah, yes, Ben panicked and used up his ammo. But, has he not shown all of us (and the world) that there was a whole lot of other maneuvering possible? But, too, does he know that he's cowboy'ed us into a corner?

06/11/2013 -- CDOs and tranching, once again.

02/26/2013 -- What? Ben doesn't have any influence with his put?

12/13/2012 -- Don't know how long this page will be there, Daily Ticker. But, when I looked, 69% had said 'no' (hurt rather than helped) as to whether Ben has helped.

09/13/2012 -- Ben, and his cronies, continue to sack the savers.

03/23/2012 -- Ben is doing a series of four lectures on his, and the FED's, role.

01/27/2012 -- Ben will continue to sack the savers; he must love the ca-pital-sino.

05/09/2011 -- Savers are suckers?

04/03/2011 -- Need to look at some background. Too, tranche and trash.

03/22/2011 -- It's spring, and the garble uses gambling metaphors.

01/27/2011 -- The chimera shines (be careful, folks).

01/19/2011 -- For the most, things are dire, not by necessity.

11/02/2010 -- Over a year later, the message is the same, except some changes have occurred. But Big Ben continues in his ways. Of real note is that the jobless rate is high; out-housing really set up for that. Also, we need to re-look at that learned from the 'vons' guys, Ludwig and Friedrich. See Near Zero.

10/14/2010 -- Capitalism, as known now, requires an endless supply of suckers.

05/14/2010 -- Oh yes, smartest guys in the economy.

01/06/2010 -- Poor Ben, getting grief and criticism.

12/29/2009 -- Time calls Ben an uber-Nerd.

12/28/2009 -- Ben was named the Time Person of the Year. Nice. We can't call him 'King' as we saw with Alan's 'cult of personality' reign.

12/15/2009 -- Requiem for the dollar (WSJ) and responses.

12/09/2009 -- The Street loves Ben who loves 'em back: The Street utterly loves the Fed's largess, earning massive profits from trading unstable currencies, the carry trade (borrow short-term dollars near zero, buy longer-term assets abroad), and the high-margin process of transferring America's capital abroad.

12/01/2009 -- The consumer as focus.

11/25/2009 -- The Economist weighs in.

10/16/2009 -- 201K <-- 401K --> 25601K, this denotes the current financial gaming.

10/05/2009 -- Who is Big Ben, really, besides being a happy-talker?

09/15/2009 -- Lessons, one year after Lehman. Also, Time on culprits. Ben is happy-talking, again.

09/09/2009 -- To look at some issues addressed here, we'll need to consider Alan's reign.

09/09/09 -- We'll need to look at UUUN, as a framework.

08/25/2009 -- Well, Ben, congratulations. The President likes your work. But, guess what you need to consider? In the next four years, please look at the Vienna school's framework as it applies to the rampant computational misuse that needs to be controlled in order for us to have stability. Are you ready to unwind? Oh, wait until January. Then, please, rise to the occasion. Your role is more than just being big daddy to the buck muckers.

08/24/2009 -- Ben offers no mea culpa; oh, he blinked and then panicked (not what one would expect of a General). Ben unwind now. The Vienna School's view that these things are undecidable (which is a computational issue) is right on.

08/21/2009 -- In his own words.

08/20/2009 -- NYT says that Ben can't shake his critics.

Modified: 02/11/2015

No comments:

Post a Comment