Friday, September 26, 2008

"Awkward Loan Interview" Daily Show On Paulson & Bernanke

This sums it up.... Unfortunately shows on Comedy Central offer better insights than so called "Business TV" like CNBC......

Besser als jede Wirtschaftssendung...... Traurig aber wahr!



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9 Comments:

Anonymous eh said...

Unfortunately shows on Comedy Central offer better insights than so called "Business TV" like CNBC......

Yes. As President (one reason to write in Colbert), I'd nominate the Daily Show writers for the Fed board. They could not possibly do a worse job, and their work (ahem) would definitely be more entertaining.

Grüs dich jmf.

4:02 AM  
Blogger jmf said...

Moin Eh,

good idea..... :-)

We live in fascinating times.....

You are absolutely right that the Fed has finally lost all its credibility.

It´s now obvious to everyone that Bernanke & Co are incompetent and useless....

They are making things worse on a daily basis..

I have the feeling that this kind of thinking is spreading like a bush fire in China, Asia and the Middle East....

4:32 AM  
Anonymous fajensen said...

[i]I have the feeling that this kind of thinking is spreading like a bush fire in China, Asia and the Middle East....[/i]

Probably not; In that part of the world leaders are elected by their peers, not by election, so they might find it very hard to believe that our leaders really *are* as stupid, weak and incompetent as they appear and that it is not part of some larger plan or conspiracy that everything they touch turn into shite.

That's the only rational reason for them holding on to USD still; they think that they are being gamed somehow to do just that so they won't ;-)

5:21 AM  
Anonymous traderboy said...

Bernanke: "I've been wrong quite a few times now"

yikes that does not inspire confidence...at least Greenspan would have muttered his way through with some unintelligible waffle and we'd all think he still knew what he was doing!

I would sell the dollar on that comment alone.

4:24 PM  
Blogger jmf said...

Moin Fajensen & Traderboy,

the biggets joke is that the Norwegian Krone ( debt free country with a SWF close to $400 billion) isn´t performing better against the $ and the €......

Looks like they are a victom of the unwinding of a carry trade.....

10:00 PM  
Anonymous Andrew said...

"the biggets joke is that the Norwegian Krone ( debt free country with a SWF close to $400 billion) isn´t performing better against the $ and the €......"

Dont be too hard on yourself, it seemed a reasonable call that it would strengthen against the Euro and certainly perform better against the dollar. Maybe bailing out Iceland was more expensive than is obvious?

10:33 PM  
Anonymous Worried said...

why do you keep focusing on what is happening in the USA when plenty is happening much closer to home?

There are plenty of quality of Blogs that report the USA .

10:01 PM  
Blogger jmf said...

Moin Worried,

indeed....

It is unfortunately true that i´ll have to blog more about the mess in Germany and Europe in general... :-)

But i had a rough weekend with two concerts and one football/soccer game that "prohibeted" me from blogging yesterday on the stunning events that had taken place here in Europe...

I´m still recovering :-)

10:20 PM  
Blogger jmf said...

Moin Andrew,

"Dont be too hard on yourself, it seemed a reasonable call that it would strengthen against the Euro and certainly perform better against the dollar."

I am patient....

The main problem is that the SWF is close to buying $1 billion/month foreign currencies vs the Krona to convert the oils & gas revenue.....

So there is always a "natural headwind" that is working against this position.

Perversly it will be easier to win with this position when they are winding down the fund to bring back the fund when the Oil&Gas bonanza is over.....

10:30 PM  

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