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It seems that the additional $60b in growth of the excess reserves might have been the result of the reinvestment policy but I'm not sure yet

Another reason the Fed might be skeptical of QE3. M2 growth is quite strong http://federalreserve.gov/releases/h6/Current/ This is interesting because QE2 it seems contributed very little(or nothing) to M2 growth Before QE2 there was about $973b in excess reserves, now there is $1.63T...

Core CPI 1.6% yoy It seems to me that because the Fed has to bend over to congress often they overplay the idea of boosting employment more than they actually do in reality. As a result people get the false impression that they care about employment so much. The Fed seem to subscribe to the...

The people who got cleaned by Bernanke deserved what they got

I believe the majority is not looking at the numbers. Back in late 2010 there was a trifecta of low inflation(core 0.6% and falling), low iexpectations (1.1-1.3% and falling) and weak employment. Right now there is only weak employment, the other two at at about the right target but the trend is...

I agree. The market is obsessed with QE3 and they are seeing 'hints' everywhere. This latest move up in risk assets has already driven oil back to $100 and commodities up. both headline inflation and core plus iexpectations will get upward pressure which will further tie the fed's hands from...

EFF is at 0.06% and bernanke is talking about cutting the IOR, negative rates? :p

If I'm looking at this correctly Swiss banks hold a ton of US, UK, German and Japanese debt

I remember, I was wrong(Or 'early' as some would say). I'm still skeptical of the CHF, I keep one eye on the P&L statement and the other in the sell button. Hard to trust a currency that has a large PPP premium due being a 'banking haven' during a global sovereign debt crisis. I'm wondering what...

Looks like Germany only gets killed once Ireland, Italy and Spain go bust hard

Thanks

I changed browsers and the google trick worked. Apparently the wsj site might have installed a cookie for people that use that trick too much

Does anyone know how to see this article for free? http://online.wsj.com/article/SB10001424052702304584404576438142804660106.html?mod=WSJ_hp_LEFTWhatsNewsCollection The old google-wsj trick doesn't work anymore and I haven't found a site that quoted the article completely

Do you have any info on the Swiss banks exposure to the pigs?I just can't believe they will escape from losses, so I might have to get out of the CHF

Its rallying nicely isn't it?

This could work as well. But I'm thinking maybe a long on Bunds would be better than than everything else. But its kind hard size the trade on IB(GBL seems to be worth €128K) EUR is easy to size so I'm using that but I might buy bunds at some point

Greek bank deposits continue to decline http://www.bloomberg.com/news/2011-07-05/greek-bank-deposits-decline-to-191-9-billion-euros-in-may-1-.html Hard to not see how this is not very bearish for the EUR. Up to this point some EU citizens have taken comfort on the fact that they can simply...

It seems that this EU situation it's like the banks in 2008, where panic feeds on itself and the EUR seems to be suffering as a result. I find hard to see how Spain will dodge this regardless of how their fundamentals are better than of Greece or other countries. Psychology is more important...

Munger notes. He believes BRK stock is undervalued http://www.fool.com/investing/general/2011/07/02/charlie-mungers-thoughts-on-the-world-part-1.aspx

Some details on the US employment crisis http://www.calculatedriskblog.com/2011/07/how-many-jobs-are-needed-over-next-year.html I also expect the participation rate to rise but even if it doesn't, the Fed is likely to see through that because they also look at the employment to population...