Generational Dynamics Forum - New Site

No surprise to me as I was reasonably certain the chemical industry did something similar in the 70's and 80's.

Manipulation of the "truth" is the bastard child of the advertising industry. What began as a corporate "image" has now evolved into simply brainwashing the public. The constant efforts to somehow "restrict" the internet is absolutely NOT about morals of any kind, it is about gaining more complete control over the public dialog.

There's a big scandal brewing over the high rate of the LIBOR. Justice Dept is investigating LIBOR manipulation. As I said in a post last year, this stuff all takes time to investigate, and the political reluctance isn't exactly a help. We are just about at the time where we should start seeing some major fruit being plucked from the weed of crime - with all due apologies to Lamont Cranston for that turn of phrase.

This made me laugh, Greek minister says the deal is "profitable". For whom?

http://www.cnbc.com/id/46701099

There's so much lipstick on that pig, there's no more pig it's all lipstick. THE PIG HAS LEFT THE BUILDING!

Gasoline Demand
Finished Motor Gasoline

Week Ending

02/17/12 8.628

02/24/12 8.363

03/02/12 8.262


Year Ago

03/04/11 9.192

http://205.254.135.7/oog/info/twip/twip_gasoline.html

Good news keeps piling up. we've got the president trying to crack down on China's trade practices. Yep, a trade war when the economy is already weak is a truly excellent idea.

Higgenbotham wrote:Gasoline Demand Finished Motor Gasoline
Week Ending
02/17/12 8.628
02/24/12 8.363
03/02/12 8.262
Year Ago
03/04/11 9.192

http://205.254.135.7/oog/info/twip/twip_gasoline.html

January exports of petroleum products jumped 16.8% to $8.9 billion
The taxpayers are being eaten alive from the repressionary taxes "wasting process" who saved as responsible souls and the blunt
trauma of induced debasement currency to inflation.

“Our options were to reduce production, lay off workers, close refineries, or find markets for our products," said Tupper Hull, a vice president at the Western States Petroleum Association. And those markets are in Mexico, Brazil, China, and other developing countries where demand for refined petroleum products is growing. Oil and refined petroleum products are worldwide commodities whose prices are determined by the markets, not Newt Gingrich. Or President Obama. Central banks, however, are another story. They’ve handed trillions to their cronies for the purpose of driving up asset prices. h/t t/p

Aedens, looking at that graph of deficit spending in the 80's made me realize something. To a great extent, how past presidents are regarded is determined by whether or not the debt vs GDP percentage grew, at least since the wartime expansion was over in the mid 60's. If that ratio grew, the other politicians and Washington in general liked them, if it shrank, they were terrible. Not a perfect rule, but not a bad one either.

Higgs, I agree that a fair amount of the oil being traded is recycled paper oil that is used to swamp the real market. I think gold has much the same thing going on, save that gold is a smaller market and thus is much easier to manipulate.

Departing Goldman Sachs, a director reveals their contempt for their customers.

http://www.reuters.com/article/2012/03/ ... RV20120314
Reuters) - A Goldman Sachs executive director published a withering resignation letter in the New York Times, saying the investment bank is a "toxic and destructive" place where managing directors referred to their own clients as "muppets."
*********
While it's true the missives of departing workers are often tinged with disgust, this certainly rings true to the culture of priviledge and corruption that surrounds everything GS.

OLD1953 wrote:Higgs, I agree that a fair amount of the oil being traded is recycled paper oil that is used to swamp the real market. I think gold has much the same thing going on, save that gold is a smaller market and thus is much easier to manipulate.

OLD, I posted those gasoline numbers without comment, though what seems to stand out is the year over year and week over week falls in gasoline demand at a time when the hype about the stronger economy would be telling us these numbers should be rising. Granted, they could tend to fall over time but not this much. I don't see the VMT report for January yet; that should confirm or not confirm. Yeah, and I have to wonder if throwing excess paper dollars at paper contracts might be part of the story. Now we hear "gold went down because the banks are in good shape" - really? - or is it because gamblers need to move markets up and down.

How have you been doing the last couple of days, Higgie?
Sweating a lot? Not much sleep?

John

John wrote:How have you been doing the last couple of days, Higgie?
Sweating a lot? Not much sleep?

John

That would definitely be in the affirmative. Though I did sleep a full night last night.

Higgs, I see it as overpricing coupled with something like 10% of the working population no longer a part of the economy. Discounting the black/grey markets of course, a major source of funds everywhere.

The prices of RV's are reflective of both gas prices and displaced workers and real income dropping, the luxury models are somewhat holding prices (checking Ebay motors) while the lower end are getting very cheap indeed. There has been a huge shakeout in dealers over the last few years, interestingly enough that started in the early 2000's. RV's are very sensitive to the actual state of the middle class economy, the poor can't afford them, the wealthy go to resorts, it's a great bellweather for how much money people actually feel they can invest in recreation - which isn't a perfect tie to the economy, of course, but what is?

If you get interested in RV numbers, RVIA is pretty much a mouthpiece that always yells "it's great, great". They are a promotion business, nothing else and twist statistics like mad. However, sales were about 380K in 2006, and are now down to about 150K annually. Pretty easy to draw a conclusion from that.

I'm just waiting to see what kind of effect this Greek deal will have, with the Credit Default Swaps and the roughly 150 billion dollars that investors have just lost. Over what period of time could we expect this to have any kind of effect on things? Right now, politicians are again patting themselves on the back, but we've been through this many times.