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All of the above assumes the euro is more sound than the dollar. Consider that you might be wrong on that. Yes, all currencies are inflating. Yes, the underpinnings of the USD are shaky. But are they really shakier than the euro, or even the yen, which isn't supported by either its people or...

The commentators here have to remember that positioning yourself for a multi-year time horizon is fundamentally different from what most people here discuss. If you have a 401k, you should only reposition a couple of times a year at most, for instance, and it's always tough to do when looking at...

Range-bound. The twin deficits are improving, which will provide support. The collapse of the dollar trade is too obvious. Everyone expects it, just like last weekend this place was horribly bearish, so of course we went up. The euro, on the other hand, may surprise...

Erm, no, not true. Banks need short-term money very frequently. Buying a t-bill or borrowing FF or going to the discount window are all called "buying money". Sounds a bit peculiar at first, but you get used to it. The banks then turn around and lend this out longer term ("sell money")...

Well, it's true, she might be a bit tired after that. But who ever said a nympho couldn't also be a neat freak?

Well, as I posted in some other thread somewhere, panics are a regular thing, almost. One comes along once every couple of years, on average, far as I can tell. If every panic that came along led to recession and a bear market, we'd always be either getting into one or just getting out of one...

They can borrow by buying 13-week bills at 3.7. They can borrow from each other at less than 5, the effective FF last I checked. There are all kinds of places where they can "borrow at a cheaper rate." The frustration on this thread, and in virtually all of the other threads on this subject...

haroki, you ain't gonna git anywhere with these folks. They have no idea of the history of money, they have no clue as to what the Fed does, their conception of the gold standard is spun out of whole cloth (and I actually like the gold standard, but these gits just give it the bad name it has...

Bernanke is doing what he's being paid to do: stabilize the situation when the markets freeze up. When banks stopped lending to each other, both here and in Europe - a worldwide situation, I remind you - he had to do his job, the primary job of the Federal Reserve, which is to provide reserves...

Which is why they raised by half a percent in May 2000, right? No Greenspan put that month, it seems. Why Volcker raised rates through the roof, regardless of the burgeoning unemployment rate? Why the 1931 Fed raised rates in the teeth of what was already a depression? Damn, do you guys even...

And I just checked the AH quote: +1.96.

It's actually bullish. LEH hadn't said a word about its exposure. If this is all there is, well, this thing's heading higher. Significantly higher. As are the rest of the financials. You can take that to the bank. :p

At this point, it looks more like the only hope the bears have left is that the market tanks 'cause the Fed don't cut. I believe there's a technical term for this: grasping at straws. This is not a bear market, and it certainly isn't THE bear market, which is coming in a few years. No need...

You know, this is an interesting place. First big downturn where I've been hanging around here. Very good place to fade on a downer; I've never hung out at a place where being a bear was so utterly fashionable. Y'all keep wearing them bearskins. Just as long as you do me the courtesy of letting...

My target for this bull - it may not necessarily happen this year, of course - is 1660 on the S&P. I think we're on the way now. Way too much bearishness. Also, the odds are far higher that something breaks over in Europe, where Trichet is in the uncomfortable position of being thought even...

Yeah, I wonder about that. There's no legal requirement for them to announce the rate. They can just do it, and before Greenspan, they did. It could be that the Sept meeting will just ratify their new policy, although I don't think they'll go all the way back to 4.75 officially. They'll...

In a few years, all this talk about the financial ruin of the US might come true. Just remember, the last time - the Seventies - Europe joined in the fun. This time around, it'll be Europe and Japan, at minimum. But that's for the future. For now, while all this ruin talk is flying around, the...

OK. If you look at the explanation of how VIX options are calculated, it says the following: The underlying for VIX options is the expected, or forward, value of VIX at expiration, rather than the current, or "spot" VIX value. This forward value is estimated using the price quotations of SPX...

Well, yes. But there's panics, and there's crashes. Two different things. Panics are almost a regular thing on Wall Street, and in many of them you could have said precisely the same thing. Since I started having actual skin in this game in 1985, we've had the crash of '87 - the real thing -...

Allegedly, the folks who post here are supposed to be "elite", or something. That being the case, you would think that if someone asks them if an event as rare as this were to happen, that you'd get a resounding "No". Instead, you get a resounding "Yes". Now, it's true that the people who...