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low oil = dollars harder to get for foreigners
saudis cut crude prices not long ago as featured on this website
Off topic: Why no Mosler comment on ‘dollar rally’?
Ms. Tavakoli told me the game is so rigged, I never stood a chance.
Citi traded in a way to profit from their own bankruptcty:
But you go on Cavuto and don’t say ANYTHING about that and tell people citi is the buy of a lifetime, what is your REAL agenda Mike Norman? Disgraceful. Mike Lewis is ashamed of you.
Dissenting Comments Encouraged Reply:April 21st, 2009 at 1:56 am
Good lord! I am not smart like you guys, why is it a good system when you can create a bank like CITI that should just do boring old loans that is good for the world, but then infuse it with a trading desk that like a snake eating its tail, can keep credit derivative shell games going ad infinum. In essence, no matter how TERRIBLE Citi is as an entity and destructive it is to the greater public good and wasteful and corrupt, through this shell game they can survive forever no?
Mike how many citi shares do you own? (rolls eyes)
dissenting comments encouraged Reply:April 22nd, 2009 at 3:45 am
Foreign bond holders, like the government of China, have reportedly told the Obama Administration that further losses to debt holders of US banks will result in a boycott of US Treasury auctions.
More bad news for C – FDIC changes are not required to kill that zombie bank, Mike I hope you don’t have a ton of shares in your buy of a lifetime, you may be sitting next to me in the library using the free toilet paper at this rate. Warren has already proven that when you are down (when you lost the radio show) he will just kick sand in your face.
Cavuto was one of the first anchors on CNBC 20 years ago, he singlehandedly is probably one of the MAIN culprits on this planet that contributes to liquidity fetishes. When Keynes was talking to the USA leaders all those decades ago, the USA was the largest creditor nation, we are now the largest debtor nation.
Mike, daytrading is a start, so you are going to go on Cavuto and demand for laws outlawing that right?
jcmccutcheon Reply:April 20th, 2009 at 4:55 pm
Sir, daytrading is not the problem. The problem is policymakers are out of paradigm. 98% of daytraders loose money and probably should be in gamblers anonymous. The problem is the private sector balance is too small to sustain ecnomomic growth large enough to fill the currently huge output gap. Furthermore, they are talking about policy ( raising taxes + cutting spending) that may lead to a repeat of 2008 perhaps in 2010. That’s the problem.
Dissenting Comments Encouraged Reply:April 20th, 2009 at 7:03 pm
Cutcheon, from keynes of yesteryear to the patrick byrne clones of today, many GROUND LEVEL soldier CEO’s say yes liquidity fetishes are INDEED the problem and you academics up in your ivory towers with your theories don’t have a good grasp of reality where the rubber meets the road.
Mike just told me on Cavuto I am missing the generational buy of a lifetime and Cavuto and friends laughed at him that these “generational” buys seem to be coming along by the day! Mike as I sit here in the library using thier free toilet paper, I wonder how am I supposed to buy all these DEALS that are all around me? BOA cut my credit cards, and I walked into warren’s bank in palm beach and they don’t want to give me any money to BUY these deals of a generation either. Will you give me some money to BUY these deals Mike?
Mike Norman Reply:April 20th, 2009 at 7:54 pm
No investable funds, Dissent? Perhaps you’ve been listening to the “Oracle of Bensonhurst,” Tracy Byrnes, for far too long.
Mike, from the video on your site, that Cavuto guys is totally out of paradigm. Anyway, I’d like to see you criticize current and past policy makers for not understanding the dynamics of fiat money. And, as a chartalist, I would have liked to hear you calling for the payroll tax holiday as well as the spending programs like Dr Wray and Warren have.
Mike Norman Reply:April 20th, 2009 at 4:45 pm
I did (call for the payroll tax holiday), many times on my radio show and several times on Fox. However, I have not had much of a role on the latter recently.
You said daytrading. Anyway, I’ve done a lot and have been doing a lot, for a long time, to promote these ideas. When you speak do you state your opinion or fact?
It is not just a daytrading issue though Mike, many CEO’s say even quarterly “beat the street by a penny” sillyness is breaking the prosperity of our world, do you trade once every 3 months? Keynes didn’t single out liquidity fetishes as the worst devil of all for no reason did he?
I stopped day trading 16 years ago!
I am glad Mike is finally finding some work, Kudos Mike. Still I want Mike to go on TV and have a jerry maguire moment and do an anti-cramer and scream into the TV. He should yell to the citizens that even though the government may give incentives to be a trading clown sitting in front of a bloomberg trading terminal all day, what a waste of human life that is. He can then stand up and kick one of cavuto’s trading terminals to the ground and start smashing it jumping up and down on it screaming his disgust for liquidity fetishes and that tick by tick day trading should be made illegal. Sadly I don’t think Mike will do this, I think he will continue to be a lemming to the silly government policies and taxes, continue to waste his life trading currencies and stocks and all that other mess back and forth day after day on his trading terminal ;(
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