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The FDIC stuff should be making you very happy today, Daal, as well.

A steep curve, i.e. higher long-term rates is good for banks, yes, that's a well-known fact. But not quite for the reason you've given.

Well, apart from the more technical issues, such as basis (EUR swaps are vs 6m Euribor, whereas USD are vs 3m LIBOR), there's the issue with the fundamental argument. Essentially, the argument is that EURUSD is too cheap given 2y carry. However, carry isn't everything, especially in the case...

If your chart is referring to the spread between the EUR and USD swap rates, you can, in fact, replicate it. The closest you can get is by doing the weighted amount in the LIFFE euribor futures strip vs the CME Eurodollar strip. You can also do the weighted Eurex Schatz vs 2yr notes. But...

Please accept my sincere condolences, debaser :)...

True, but it's not like anyone's preventing you from seeing you all the numbers, from U1 to U6? BLS publishes them all... Moreover, you can see all sorts of other household survey details, if you so desire. So I don't really see the issue, tbh.

He's not a voter this year, innit?

Hedonically adjusted job numbers? I think you might be barking up the wrong tree here a bit...

Well, I am not sure how "supporting foreign banks" comes into this... These are O/N loans secured by USD-denominated eligible collateral. What do you think would have happened to US banks if Depfa and Dexia (the two banks that went to the discount window the most during the peak of its use)...

Why is it outrageous, I'm just curious?

Talk your book much, ralph :)? Plosser has been a hawk forever, so his statements aren't that interesting. Fisher hasn't said anything about hikes, but talked about QE a lot. Kocherlakota is new information (and he is data-driven, as promised). The important swing voters (apart from Big...

I applaud you, CL...

But where do you make the leap from borrowing to "huge debts"?

This from Big Picture (http://www.ritholtz.com/blog/2011/03/calvin-hobbes-explains-corporate-america-to-you/)

I am not an advocate for the banks. If you have read my comments, you would know this. My point is that in the '08 crisis, deposits (and depositor insurance) didn't matter and commerce was going to stop. Modern businesses and individuals rely on short-term credit mechanisms (e.g. commercial...

Well, this logic is flawed... Modern banks aren't financed by deposits and money did disappear exactly like it did in the 30s. Obviously, the various Fed programs were rolled out to stem the tide. I am not sure what "near-criminal" Fed policies you might be referring to, but the various...

Why do economic agents (people, companies, govts) borrow?

What's your stop, Asus?

Friedman was a very impressive character, but by no means infallible. No point in idolizing him.

It's not gonna happen...