tag:blogger.com,1999:blog-34323687.post7637947927703870996..comments2024-03-29T09:24:42.731+00:00Comments on Macro Man: Ice, Ice BabyMacro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger47125tag:blogger.com,1999:blog-34323687.post-88724557839238019942009-12-02T09:19:58.895+00:002009-12-02T09:19:58.895+00:00C. Wright Mills
Thats some Wobbly thinking!C. Wright Mills<br /><br />Thats some Wobbly thinking!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-44748048529069992542009-12-02T08:33:06.800+00:002009-12-02T08:33:06.800+00:00Nemo,
Let's not compare Russia to Latvia.
Peo...Nemo,<br /><br />Let's not compare Russia to Latvia.<br />People are trying to shrug off Dubai as non-event in Russia as the market keeps rising. Latvia on the other hand is near breaking point - especially when they try to raise taxes(transport, real estate, income - you name it) Jan 1st year. Lativan 21% unemployment and 40% youth unemployement is the stuff revolutions are made of.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-32498216393819635942009-12-02T00:40:22.099+00:002009-12-02T00:40:22.099+00:00Nemo, I don't know if you think that Karl Denn...Nemo, I don't know if you think that Karl Denninger is "mainstream" or not, but he certainly used strong language in a recent post<br /><br /><br />http://market-ticker.denninger.net/archives/1683-Wheres-The-Breaking-Point.htmlCharleshttps://www.blogger.com/profile/15664983104693516908noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-29321046843787416142009-12-01T23:59:52.586+00:002009-12-01T23:59:52.586+00:00If anyone on this board reads Latvian or Russian o...If anyone on this board reads Latvian or Russian op-ed pieces in newspapers I'd be really interested to hear what they are saying about Dubai. What would really make this butterfly effect real is if a lot of people in other heavily indebted countries started to take a "fuck it all" view of their obligations. A real trend in repudiation or strategic default would be a much bigger problem and we are not going to find that anywhere but in popular media at this relatively early stage.Nemo Incognitohttps://www.blogger.com/profile/07345185457108156269noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-19713391654613050902009-12-01T22:25:09.197+00:002009-12-01T22:25:09.197+00:00MM, no matter how bad a trading day one might have...MM, no matter how bad a trading day one might have, at least it wasn't as bad a miss as this one:<br /><br /><a href="http://sports.yahoo.com/soccer/blog/sow_experts/post/The-agony-and-the-ecstasy-of-being-a-footballer?urn=sow,205896" rel="nofollow"> What A Sitter</a>leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-18433875278231022462009-12-01T21:02:58.608+00:002009-12-01T21:02:58.608+00:00Imagination like C Wright Mills is what screwed up...Imagination like C Wright Mills is what screwed up GM/UAW, US Steel/USW, textiles, etc...<br /><br />and now these same elitists are destroying government. They got to the UK and California first, but they are slowly destroying everythingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-82222693700346257652009-12-01T20:18:07.007+00:002009-12-01T20:18:07.007+00:00What we need badly is imagination a la C. Wright M...What we need badly is imagination a la C. Wright Mills. So as to come up with an explanation of the markets instead of using phrases such as fast money, profit taking, positioning, carry trade etc.<br />Some coherency, please...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-83133946237624263892009-12-01T19:48:40.360+00:002009-12-01T19:48:40.360+00:00was nothing wrong with the AUD today ,but you see ...was nothing wrong with the AUD today ,but you see what you want to see.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-57169997579081367622009-12-01T17:52:49.411+00:002009-12-01T17:52:49.411+00:00Gary, LOL. You are on a roll today !! Also, LB is ...Gary, LOL. You are on a roll today !! Also, LB is short the 10y today. That means we agree on everything today - which is in itself rather frightening....<br /><br />AUD doesn't seem to be as exuberant as expected today after that hike ... another tired trade to add to the list: RUT, XLF, AUD:USD...?leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-48049671422132712272009-12-01T16:43:29.332+00:002009-12-01T16:43:29.332+00:00What happened to US 2year bills? Since across-cur...What happened to US 2year bills? Since across-curve is off now. Anyone knows? Thank you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-49192675952431717682009-12-01T16:10:10.387+00:002009-12-01T16:10:10.387+00:00Ian: the message from Dubai is simple...
The Gree...Ian: the message from Dubai is simple...<br /><br />The Greenspan put (in all its many forms) is not resting. It is not stunned, and it is not pining for the fjords.<br /><br />It has ceased to be. It is no more.Garynoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-11886360920795988402009-12-01T15:43:20.335+00:002009-12-01T15:43:20.335+00:00Jeez guys, wake up on the wrong side of bed this m...Jeez guys, wake up on the wrong side of bed this morning? <br /><br />Has anyone looked at the skew on S&P options going out a couple of months? Seems to me that the punters are still terrified of a repeat of fall 2008.Ianhttps://www.blogger.com/profile/12325797293534490304noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-16937720293008266592009-12-01T15:20:58.084+00:002009-12-01T15:20:58.084+00:00Whoops, shoulda clicked before I clicked...Whoops, shoulda clicked before I clicked...Stevenoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-90064013134884140232009-12-01T15:19:49.863+00:002009-12-01T15:19:49.863+00:00Steve, see above...Steve, see above...Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-82775635244037663242009-12-01T15:18:47.408+00:002009-12-01T15:18:47.408+00:00"No, Mr. Market, I expect you to DIE..."..."No, Mr. Market, I expect you to DIE..."Stevenoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-36726124307535955742009-12-01T15:16:01.211+00:002009-12-01T15:16:01.211+00:00Funnily enough, I like my risk assets both shaken ...Funnily enough, I like my risk assets both shaken and stirred. Gary, I imagine you would LOVE <a href="http://macro-man.blogspot.com/2008/04/no-mr-bondi-exprct-you-to-die.html" rel="nofollow">this old post</a> rom 18 months ago....Macro Manhttps://www.blogger.com/profile/12324967552369915949noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-29642650358357289172009-12-01T15:15:34.345+00:002009-12-01T15:15:34.345+00:00Certainly the allusion was not lost on those of us...Certainly the allusion was not lost on those of us at 85 Broad who are closely following all news feeds and web sites for any sign of dissent against the regime or any opposition to our hegemony, Gary.<br /><br />Here at 85 Broad, we have anticipated such feelings among the masses, and we are preparing to defend our just rewards against the rest of you, until we have finished absorbing your net worth:<br /><br /><a href="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahD2WoDAL9h0" rel="nofollow"> Goldman Bankers to Carry Small Arms</a> <br /><br />Now we must return to high frequency trading, LBOs and other activities of no use to society.Lord Blankfiendnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-79513444113588087122009-12-01T15:15:24.750+00:002009-12-01T15:15:24.750+00:00Certainly the allusion was not lost on those of us...Certainly the allusion was not lost on those of us at 85 Broad who are closely following all news feeds and web sites for any sign of dissent against the regime or any opposition to our hegemony, Gary.<br /><br />Here at 85 Broad, we have anticipated such feelings among the masses, and we are preparing to defend our just rewards against the rest of you, until we have finished absorbing your net worth:<br /><br /><a href="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahD2WoDAL9h0" rel="nofollow"> Goldman Bankers to Carry Small Arms</a> <br /><br />Now we must return to high frequency trading, LBOs and other activities of no use to society.Lord Blankfiendnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-15801745638386004482009-12-01T15:13:27.458+00:002009-12-01T15:13:27.458+00:00"...and you are?"
"Man. Macro Man..."...and you are?"<br /><br />"Man. Macro Man."Stevenoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-12851770342293654092009-12-01T15:11:59.659+00:002009-12-01T15:11:59.659+00:00MM, don't forget that mid-term congressional e...MM, don't forget that mid-term congressional election campaigns are coming up very soon. The people might end up with a louder voice than you think, deferring the need for a tax revolt and/or civil disobedience. I can't think of a better environment for populist rhetoric. That is going to play much better with Joe Sixpack than more nuanced arguments about financial market abstractions. There is a huge political risk overhang, in my view.PPMnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-21295712015726128862009-12-01T15:05:50.198+00:002009-12-01T15:05:50.198+00:00BTW: Blankfeld = Blankfein
Some of us are big Jam...BTW: Blankfeld = Blankfein<br /><br />Some of us are big James Bond fans, and the chief villain in many of the earlier (Ian Fleming) stories was Ernst Stravo **Blofeld**<br /><br />A literary allusion that was probably lost on many...Garynoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-19999408517712370032009-12-01T14:51:14.850+00:002009-12-01T14:51:14.850+00:00At this juncture I wonder if Dubai isn't a suf...At this juncture I wonder if Dubai isn't a sufficient catalyst to close the gapping divide between inflated asset classes and the bleak fundamentals of underlying real economies what will be?<br /><br />From where will the antithesis of the citigroup memo emerge?<br /><br />still waiting for Godot.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-41694880861152417422009-12-01T14:50:10.583+00:002009-12-01T14:50:10.583+00:00Yes Gary very well put. It means that we will see...Yes Gary very well put. It means that we will see defaults from people who would not have defaulted under the same circumstances a decade ago.<br /><br />And Blankfein is doing god's work? I think he has "north" confused with "south."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-82372346933149721102009-12-01T14:41:36.170+00:002009-12-01T14:41:36.170+00:00Second that LB. Very well put Gary.
Cheers,Second that LB. Very well put Gary. <br /><br />Cheers,Skippynoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-45468173050062351912009-12-01T14:35:28.182+00:002009-12-01T14:35:28.182+00:00Gary, although we are often at odds in terms of ou...Gary, although we are often at odds in terms of our macro view, LB would like to commend your every word this morning. That was a splendid summary of where we are at the moment. <br /><br />MM, you forgot:<br /><br />8) Any unforeseen event or butterfly that causes traders to seek the dollar or yen as a safe haven has the potential to initiate a significant carry trade unwind. Once it starts unwinding, the trigger becomes irrelevant (subprime, Dubai or whatever..) and the results look fairly similar.leftbacknoreply@blogger.com