The Big Picture |
- Flight to Quality Funding of the U.S. Budget Deficit
- More Holiday Shopping Ideas!
- 10 Tuesday PM Reads
- 16.15.14 13.12.11
- No QE3 from FOMC, yet
- Anatomy of a Mess – The Foreclosure Crisis
- Dow Industrials Long Term Channel
- Merkel comments today NOT NEW
- The (sizable) Role of Rehypothecation In The Shadow Banking System
- The Race For The Republican Nomination Is Heating Up
| Flight to Quality Funding of the U.S. Budget Deficit Posted: 13 Dec 2011 10:30 PM PST As we suspected in our last update in September, the flight to quality funding of the U.S. budget deficit would replace the end of QE2 and almost 100 percent indirect financing of the deficit by the Federal Reserve. Looking at the chart one can only imagine where interest rates would be if the deterioration of Europe hadn't coincided with the end of QE2. As they continue to fiddle in Washington and fail to address the long-term fiscal issues we know that trade is coming and is just a matter of when, not if. Sovereign risk is all about confidence and it appears all roads lead to deflation in 2012, so U.S. Treasuries are the chic place where the beautiful people currently hang. Kind of like Rome, Madrid, and Paris used to be for European Click charts to enlarge and here if charts are not observable)
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| Posted: 13 Dec 2011 04:30 PM PST Lots of great comments for our first list (Holiday Shopping Ideas!), so lets give this one another go round. As part of our annual Shopmas tradition, I cull some of my more interesting fascinations, acquisitions, and other items I stumble each year, as well as items off of my own overstuffed wish list. Your feedback about the breadth of gift ideas keeps encouraging more of these, so here is our second round of last minute ideas for those of you have been very, very good. Or at least, those of you who were not leveraged long with no stop losses in place. Go forth and stimulate! ~~~
Those of you that mocked my suggestion of a JT holiday disc, I dare you to try with this one. If this disc doesn’t make you smile, you are a hopeless grinch. Spike a cup of coffee with some Kahlua or Baileys and enjoy. ~~~
And, an 8 oz bottle lasts me almost a year. (but I use my razors 2X then they go in the garbage) This is great stuff. ~~~
These walkie talkies can cover 35 miles — thats a hell of a long distance for this price. Great for the mall, Disneyworld, Boating, the beach, anywhere you might get separated with poor cell coverage. (Uses rechargable or alkaline batteries) They are rugged, but not waterproof. For even greater range, spend the extra bucks for the Motorola MR350R 35-Mile Range ($51) ~~~
The greatest science fiction film of all time, in every variant of its many tortured releases, including the 25th anniversary Blade Runner: The Final Cut, spectacularly restored and remastered from original elements and scanned at 4K resolution. The definitive documentary to accompany the definitive film version is included. For any hard core SciFi nerd on your holiday list. ~~~
Francis I of Austria was the last monarch to rule over the Holy Roman Empire, and the imperial gardens remains one of Vienna’s most beloved treasures. In 1791, he commissioned Matthias Schmutzer to paint portraits of every flower in his garden – a project that took more than three decades to complete. Until now, only six of the extant 1,300 paintings have ever been published. This collection features 120 of the most outstanding of Schmutzer’s watercolours, painted life-size and with extraordinary precision. This book will delight botanical historians and lovers of flower art alike. ~~~ Stealth black, shock resistant, water proof to 200 meters, x-large case, this thing is practically bullet proof — G-Shock is designed to survive in the harshest of conditions. Filled with all sorts of stop watches, calendars, time zones and additional features, this is an attractive oversized watch that can take punishment. My version has blue highlights, not red. (Good luck finding one of these). ~~~ Missus Big Picture has wanted a juicer for some time, and most of the models I played with were under powered and fragile feeling. I finally broke down and ordered this beastie. Stainless die cast steel housing and motor body feels solid (notice the theme here) with 1000 watts of power (This is the two speed model). I picked this model because of the high power, the design style, and because so many of the reviews said it was easy to clean. ~~~
The Riedel family of Austria has specialized in fine wine glassware for more 300 years. This decanter is made with mouth-blown glass of a single flawless loop of clear 24-percent lead crystal curving from the high open tail to the narrow arching pour-spout. A slender black tuxedo stripe traces the decanter's outside edge (hence the name). The decanter holds 69 ounces and stands an 16-1/2 inches high. ~~~
I love great design, and this growlight fits the bill. Originally conceived for people limited by light, space, or temperatures outside, suited for tropicals, fresh herbs, and succulents. A swath of whipped glass clouds the bulb and diffuses the light. Each one is unique. The lights are available as hanging pendants, wall mounted sconces or floor lamps, hand blown in lead free crystal. ~~~ • Octopus Table ($25,000) It took artist Isaac Krauss 2 and half years to sculpt this one of a kind spectacular table in Bronze. Yours for merely 25 large. (Yes, I have a thing for Octopi)
When I said for all budgets, I was not fooling around! |
| Posted: 13 Dec 2011 01:30 PM PST My afternoon train reading (Really,its what I read on thew way home)
What are you reading? |
| Posted: 13 Dec 2011 01:15 PM PST That is the current time and date, at least the way the Brits configure it (DD/MM/YY) 16.15.14 13.12.11 = 4:15 pm (13 seconds) on the 13th day of the 12 month in the 11th year of the century. |
| Posted: 13 Dec 2011 12:29 PM PST The FOMC said since the Nov meeting, “the economy has been expanding moderately, notwithstanding some apparent slowing in global growth.” They did acknowledge “some improvement in overall labor market conditions” but “the unemployment rate remains elevated.” After saying that business investment in equipment and software has continued to expand in Nov, today they said “business fixed investment appears to be increasing less rapidly.” They said household spending has continued to advance. The inflation commentary was virtually unchanged with their benign outlook in Nov. The commentary on OT and the reinvestment of maturing Agency and MBS paper into more of it was unchanged. Evans again dissented as he wanted QE3. Dudley, Yellen and Tarullo, who all spoke about QE3 in speeches, did not dissent. Bottom line, the economic commentary was mixed and they leave open the possibility of QE3 by again saying they are “prepared to employ its tools to promote a stronger economic recovery…” As long as Yellen and Dudley speak about more QE, we assume Bernanke believes the same and the more likely it happens at some point in 2012 if they remain unhappy with the pace of economic growth. Patience with the economic cycle is and has not been one of the characteristics of the Fed. |
| Anatomy of a Mess – The Foreclosure Crisis Posted: 13 Dec 2011 11:30 AM PST
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| Dow Industrials Long Term Channel Posted: 13 Dec 2011 09:15 AM PST Fascinating charts from Ron Griess of the Chart Store looking at the Dow Jones Industrial Average, via long term trading channel. Click to enlarge:
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| Posted: 13 Dec 2011 08:39 AM PST While the reason for this market pullback is being blamed on the comment from German Chancellor Merkel that she was against increasing the size of the ESM, I want to remind everyone that she said this on Friday too at the EU summit. BN news at 8:55am FRIDAY: “Germany opposes adding to the firepower of the Europe’s permanent rescue fund, Chancellor Angela Merkel said. “I’ve made my position quite clear that it won’t be topped up,” Merkel told reporters in Brussels today after the EU summit. While it’s always right to negotiate, “we can only move towards our goal when we tackle the root causes of the crisis” thru budget limits and the fiscal compact, she said. |
| The (sizable) Role of Rehypothecation In The Shadow Banking System Posted: 13 Dec 2011 08:25 AM PST IMF Working Paper ~~~ |
| The Race For The Republican Nomination Is Heating Up Posted: 13 Dec 2011 08:09 AM PST |
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