This reminds me of Richard Nixon's, "I am not a crook" proclamation. Everyone knew that he was.
Ghost of Igloi wrote:
I can be described in many ways but dishonest does not fit.
Igy
For clarification, I posted this on the anniversary of the day the bull market was "born" - March 9, 2009. The associated bear "died" on March 6, 2009 when the S&P hit 666.
Big Dog Investments wrote:
Happy Birthday, bull market. You did good.
You still don't get it. Yes it is a petty point; you were wrong by one trading day. But that's not the issue. The problem is with your character. You have been proven wrong, yet you refuse to admit it. Saying "I'm right" over and over does not make it true. You are acting like a petulant child. Grow up.
Ghost of Igloi wrote:
Muy loca and Big,
Kind of funny that I made a comment about 3/9/2009, 666 low, and the mark of the beast.
I am pretty sure the charts have some data error. I personally recall that day very clearly. I admit I am 65 and the memory fades, but I have quoted that day for years as if it was the financial equivalent of 9/11.
Nevertheless, a day difference is somewhat meaningless. If someone wants to hang me on this petty point, even when I have posted data to the contrary so be it. It is in my view a petty point.
Igy
Europe is justifying their negative interest rates with low inflation rates (or even deflation). But the truth is that in Europe, gas is included in the inflation rates and groceries got quite a bit cheaper, too, because of the low transportation cost.
MarketWatch wrote:
U.S. stock futures on Thursday turned solidly higher after the European Central Bank delivered fresh stimulus measures to boost the eurozone's flagging economy.
The ECB cut the bank's key lending rate to zero from 0.05% and pushed the rate on its deposit facility to minus 0.4% from minus 0.3%. It also announced it would expand the size of its monthly bond purchases to EUR80 billion ($86.86 billion) from its current level of EUR60 billion beginning in April and expand the scope of those purchases to include investment-grade, euro-denominated, nonbank corporate bonds.
European stocks surged higher on the news and U.S. futures followed suit, rallying after already showing early gains ahead of the announcement.
the europeans and americans need more inflation - that should keep interest rates fairly low for a good amount of time.
Euro Guy! wrote:MarketWatch wrote:Europe is justifying their negative interest rates with low inflation rates (or even deflation). But the truth is that in Europe, gas is included in the inflation rates and groceries got quite a bit cheaper, too, because of the low transportation cost.
U.S. stock futures on Thursday turned solidly higher after the European Central Bank delivered fresh stimulus measures to boost the eurozone's flagging economy.
The ECB cut the bank's key lending rate to zero from 0.05% and pushed the rate on its deposit facility to minus 0.4% from minus 0.3%. It also announced it would expand the size of its monthly bond purchases to EUR80 billion ($86.86 billion) from its current level of EUR60 billion beginning in April and expand the scope of those purchases to include investment-grade, euro-denominated, nonbank corporate bonds.
European stocks surged higher on the news and U.S. futures followed suit, rallying after already showing early gains ahead of the announcement.
But housing and services got considerably more expensive at the same time. Once oil and gas goes up (and therefore food), there will be a significant inflation.
European states have accumulated significant debt and the ECB can simply not afford to raise interest rates to something like 3-5% mid term. That would probably lead to the default of multiple Euro countries...
This a good first step...recognizing that you have a problem.
Ghost of Igloi wrote:
I am glad to be in the company of other losers, dishonest people that misrepresent facts like David Stockman, Tyler Durden and John Hussman.
Igy