I just watched a guy on CNBC reporting from the floor of the CME. His badge read, “WACO,” but it should read, “WACKO,” because he was saying that Japan will “move to default” because it is running a trade deficit for the first time in 32 years.
And people think they’re getting informed by watching this stuff.
Unbelievable.
I just saw that also! I threw my laptop on the bed in laughing disgust.
ReplyDeleteThe other thing was Cramer and the other two just nodding their heads in agreement like bobble heads.
Is absolutely everyone clueless?!
Are there any earlier data sets for consumer credit growth? The Fed data is always 2 or 3 months old. The big bank earnings conferences are kind of helpful for forward looking statements but I was hoping for something better.
ReplyDeleteTB, What about the H.8 report? isnt that more timely than 2-3 months?
ReplyDeleteResp,
You can get weekly bank loans from the Fed. That's not the same as "consumer credit," but the trends are similar.
ReplyDeletethank you
ReplyDeleteI saw the CNBC guy and as I told my wife it is like Bill Gross's short Treasury money, sooner or later the money will end up in the pockets of some real smart people. Do you think Mr. Gross will come out in support of Mr. WACKO ?
ReplyDeleteGLH,
ReplyDeleteGross seems like he may have just simply tripped off at this point.
His last commentary was talking about 2 moons and very odd things... way out there. He may be losing it.
If he could get some exposure to MMT and in addition get to the point where he believes and understands it, things may turn around for him...
Resp,
Matt Franko: I think you will agree that an understanding of MMT should be a prerequisite to being a money manager.
ReplyDelete