Happy Birthday, Fed, 89 years old today

Happy Birthday, Fed, 89 years old today

Post by ckh - Too Much SPA » Wed, 25 Dec 2002 22:07:26




Quote:> "Resisting blame for bubble, Greenspan fires back at critics

> WASHINGTON Responding to criticism that it helped create and sustain the stock market 'bubble' of the late 1990s, the Federal Reserve Board has recently waged a vigorous campaign of defense, arguing
> that it was better to have boomed and busted than never to have boomed at all".
> (http://www.iht.com/articles/81143.html)

> Did you know that the money supply maxed in January 2000, presumably to avert a Y2K CRISIS and the market maxed in March 2000?

Is there an online graph on that?   The DJIA peaked on January 14, 2000
so that supports your thesis.

I'm interested in seeing the phase difference between the money supply
and the DJIA as the index has been falling or flat but supposedly the
money
supply has been increasing.

Why didn't the DJIA soar after Greenspan's first, oh, 3, or 4 rate
cuts in early 2001?  Is there something else going on?

Well, obviously but I'd like to know what.

 
 
 

Happy Birthday, Fed, 89 years old today

Post by Bob Grumbin » Thu, 26 Dec 2002 01:44:19




 >>    "Resisting blame for bubble, Greenspan fires back at critics
 >>    WASHINGTON Responding to criticism that it helped create and
 >>    sustain the stock market 'bubble' of the late 1990s, the Federal
 >>    Reserve Board has recently waged a vigorous campaign of defense,
 >>    arguing that it was better to have boomed and busted than never
 >>    to have boomed at all".
 >>    (http://www.iht.com/articles/81143.html)

Greedspan and his criminal cronies are so full of lower level latrine
contents that their eyes have turned brown.  The "boom" was beneficial
only to criminal gangs, as an anesthetic to facilitate the theft of
the meager savings of an entire generation of young savers and
investors.  And it isn't the criminal gangs who got busted but the rest
of the society.

 >  Why didn't the DJIA soar after Greenspan's first, oh, 3, or 4 rate
 >  cuts in early 2001?  Is there something else going on?
 >  Well, obviously but I'd like to know what.

With all the hype spewed by the criminals doing the swindle for their
own benefit (in the case of the de facto bankrupt GE organization which
runs CNBC) or for the benefit of their criminal cronies, it is easy for
people not directly involved *not* to see the other side of the story.
In your situation, ckh, I would think you'd be one of the irate objectors
yourself to the ongoing criminal swindle, although perhaps you calendered
your certificates of deposit in such a way that you didn't start seeing
what was happening until very much later than the rest of us.
    It is only "within the relevant range" that interest rate cuts have
any conceivable beneficial effect on the general economy.  That relevant
range is quite small in scope, perhaps one or two percent off of the
north of six percent short term rates in effect before Greedspan's War
against savers and investors.  What Greedspan has done is to defraud the
parsimonious and conservative by transferring what is now about 80% of
our interest income to the belligerent bankrupts and profligate wastrels
among his criminal cronies.  Having bankrupted the companies that they
run for malicious and fraudulent reasons in the first place, they are
now receiving an income transfer of virtually all of the income belonging
to rational economic actors so as to keep themselves in power and in
control of the now bankrupt companies they run "just a little longer" so
as to do further severe damage to the survivability of America and in
particular the American economy.
    Interesting that this issue should come up in the Y2K software group.
The sole issue involved in Y2K was paying vast amounts of resources to
the batches of malicious incompetents who created the Y2K problem in the
first place, despite it being blatantly obvious throughout the vast
majority of the "computer age" that it was a very near term situation,
that changeover from 19xx to 20xx.  So just as they got *rewarded* for
their incompetence at designing programs in the first place, so too are
the worst business managers in the country being rewarded for their
malicious thieving reprehensible incompetence at running companies, all
at the expense of rational economic actors.
    Meanwhile, the elderly counting on some reasonable rate of return
on their retirement savings are being forced to do without (the rent or
medicine dilemma) while future retirees have had their pension funds
looted first by the boom which artificially inflated values so that
companies could pretend some of the gains were "income" to management
(not stockholders who were being short sheeted the whole time by cuts
in dividend payouts on behalf of fraudulent transfers to criminal cronies
via manipulative "stock buybacks" which have de facto bankrupted scores
of companies as part of that other Greedspan Plan to Bankrupt America
which has been building since he took office in 1987) and now by the
bust which is showing most pension funds to be vastly underfunded at a
time when companies have no net income with which to replace the funds
stolen by management earlier.
    Yes, there are a bunch of other things going on, each and every one
of which is a piece of the criminally malicious manner in which that
Raygun/Bush appointee to head the Frauderal Reserve Board, Greedspan,
has been intentionally mismanaging the Fed so as to create the
destructive environment which communist theologians such as his lord
and master John Maynard Keynes and now himself have long conspired to
inflict so as to destroy the productivity of capitalism and the human
and civil rights of individual citizens to own property and to benefit
from the rightful income thereof.
    Bob Grumbine    :-(##


Robert E. "Bob"   #   postal  PO Box 20040, Carson City NV 89721-0040
Grumbine, MBA     #   voice  775-841-5067
visit Bob's web site at http://www.dimensional.com/~bgrumbin

 
 
 

Happy Birthday, Fed, 89 years old today

Post by ckh - Too Much SPA » Thu, 26 Dec 2002 06:51:47



Quote:

> Why falling or flat? The market is diving but you can't see it because the USD is beign devalued by stealth.

Evidence?

7,100 to 8,400 is not falling.

I see items getting cheaper by the day.

Refurb IBM Netvista black towers, P4-1.5, 128 MB, 20G, 48X, SND, NIC,
56K, W2K, IBM KB and mouse, are $500.

They have more, Computer Warehouse, 703-821-1400.    

 
 
 

Happy Birthday, Fed, 89 years old today

Post by ckh - Too Much SPA » Thu, 26 Dec 2002 06:26:18




Quote:> In your situation, ckh, I would think you'd be one of the irate objectors
> yourself to the ongoing criminal swindle, although perhaps you calendered
> your certificates of deposit in such a way that you didn't start seeing
> what was happening until very much later than the rest of us.

Yes, my CDs are rolling to much lower rates.  Even worse are the money
markets and the money market funds which pay numbers too low to double
in my lifetime.

Quote:>     Meanwhile, the elderly counting on some reasonable rate of return
> on their retirement savings are being forced to do without (the rent or
> medicine dilemma) while future retirees have had their pension funds
> looted first by the boom which artificially inflated values so that
> companies could pretend some of the gains were "income" to management
> (not stockholders who were being short sheeted the whole time by cuts
> in dividend payouts on behalf of fraudulent transfers to criminal cronies
> via manipulative "stock buybacks" which have de facto bankrupted scores
> of companies as part of that other Greedspan Plan to Bankrupt America
> which has been building since he took office in 1987) and now by the
> bust which is showing most pension funds to be vastly underfunded at a
> time when companies have no net income with which to replace the funds
> stolen by management earlier.

But Bob, doesn't the individual carry the bulk of the responsibility?
Why would they invest in a company that does not pay a solid dividend?
I know what the companies and their shills say, "This is a growth
company and we are re-investing our earnings."

All fine but the whole point is to pay the investor.  In the case of
companies that grew to the limits of their ecological niche, why would
the individual investor continue to "hold 'n hope"?  

If there is no dividend, why not cash out?  Why don't people cash out?

I might have the answer to my own question.  In the 1980's, I saw a
real con artist walk into a company and ponzi-scheme the savings from
my co-workers.  He was a "wild-cat" oil explorer with a new geological
theory.

I knew that it was a con and didn't invest.  Before anyone slams me for
bragging about having a "big brain",  at least half the folk who did
invest muttered, "this is too good to be true", and "I can't believe
every oil well has come in."

Most of them suspected but could not keep themselves from pushing money
onto the table, as long as they were winners.

Once a month or so, the guy would stroll in and hand out dividend
checks, "Look, you made 30% on your investment in one month."

and

"We're starting a new exploratory well, anyone want to get in?"

People were signing the checks back to him and writing new checks for
more money.  "Quick-quick, get the college money down here, this is our
chance."

I think some of that was going down in the 1990's.

The end of the oil-well story was the collapse of the Ponzi.  Money was
lost, $20,000/person, $100,000/person, that kind of money.  Much less
than the numbers for the January 14, 2000 to present unwinding but
still impressive.  I am certain that most of those who lost in the
oil-con were big losers in the market over the last 36 months.  

If you asked them, they would certainly say that they are wise
investors.

Quote:>     Yes, there are a bunch of other things going on, each and every one
> of which is a piece of the criminally malicious manner in which that
> Raygun/Bush appointee to head the Frauderal Reserve Board, Greedspan,
> has been intentionally mismanaging the Fed so as to create the
> destructive environment which communist theologians such as his lord
> and master John Maynard Keynes and now himself have long conspired to
> inflict so as to destroy the productivity of capitalism and the human
> and civil rights of individual citizens to own property and to benefit
> from the rightful income thereof.
>     Bob Grumbine    :-(##

Dang.  Good ranting with you Bob.  


> Robert E. "Bob"   #   postal  PO Box 20040, Carson City NV 89721-0040
> Grumbine, MBA     #   voice  775-841-5067
> visit Bob's web site at http://www.dimensional.com/~bgrumbin

 
 
 

Happy Birthday, Fed, 89 years old today

Post by Bob Grumbin » Thu, 26 Dec 2002 09:54:16



 >  But Bob, doesn't the individual carry the bulk of the responsibility?
 >  Why would they invest in a company that does not pay a solid
 >  dividend?  I know what the companies and their shills say, "This
 >  is a growth company and we are re-investing our earnings."

Investors are responsible only for their *own* actions, not for the
criminal wrongdoing of those breachers of fiduciary duty running the
companies.  Starting some years before, but especially in the past
five years, we have had a situation in which insiders and their criminal
cronies have been engaging in outright theft of stockholder assets, with
the active encouragement of Greedspan's market manipulating plan for
bankrupting America and the facilitation of the SEC bending over backwards
to change the rules so as to maximize the amounts of theft from cash paid
public stockholders.  Never announced in advance as to the severity
involved, always obfuscated even many months or a year later as to the
multibillions being stolen, always accompanied by massive spin doctoring
bilge about how it's really only "returning value to shareholders"
(without mentioning that all of the value is being given to criminal
cronies of management and all continuing holders are being left holding
an empty bag).  It is only via diligent research as suggested by

        http://www.dimensional.com/~bgrumbin/buybacks.html

that ordinary stockholders can even begin to *measure* the amount of
thefts that have been going on.  The companies aren't going to tell you.
None of the regulatory authorities are even going to admit that there
is massive criminal theft going on.  No, ckh, I have to disagree.  While
it may be possible for individuals to measure the irresponsibility of
criminally wrongdoing insiders *after* the money has been stolen, and
thereafter to avoid the criminals and the companies they run, it is not
possible to get any adequate advance knowledge of the amount of damage
being done by the theft practices.  Absent advance knowability, it is
flat out criminal theft and fraud in which Boards of Directors and
managements are engaging with the facilitation of criminally corrupt
regulatory agencies.

 >  If there is no dividend, why not cash out?  Why don't people
 >  cash out?

Although 76.7% of the companies in which I own shares do pay at least
"some" dividends and those dividends have recently become more
competitive with interest rates available in Greedspan's rigged low
interest rate market, dividends alone have never been a full nor
adequate test of the worth of a company.  Similar to your example of
the Ponzi scheme run on numerous people in your office, the *illusion*
of high dividend rates being paid suckers an awful lot of people into
companies which flatly *can't* maintain the dividends.

 >  Dang.  Good ranting with you Bob.

Indeed so, ckh.  I look forward to more of the same in the conventional
"New Year" of 2003.
    Bob Grumbine    :-)##


Robert E. "Bob"   #   postal  PO Box 20040, Carson City NV 89721-0040
Grumbine, MBA     #   voice  775-841-5067
visit Bob's web site at http://www.dimensional.com/~bgrumbin

 
 
 

1. Happy Birthday, Dear $11+ Million ERP Fiasco, Happy Birthday To You!

--> Snipped From http://www.computerworld.com/home/print.nsf/all/991122CDEE

ERP Problems Plague College

Cleveland State can't process financial aid using PeopleSoft applications

By Craig Stedman

11/22/99 More than a year after it installed PeopleSoft Inc.'s student
administration software, Cleveland State University continues to have big
problems getting the system to work properly.

The Cleveland-based school this month created an emergency task force to prod
PeopleSoft to fix its applications, which are being blamed by university
officials for problems in processing financial aid, enrolling transfer students
and recording grades.

Joseph Nolan, a human resources vice president who heads the new task force,
said Cleveland State has identified 35 pieces of functionality that either
don't work or are missing from the software. Some of the missing items are a
year overdue, he added.

Although the snafus involve applications developed for universities, the
experience holds lessons for corporate users who plan to install enterprise
resource planning (ERP) systems.
...
PeopleSoft said it's "working closely" with Cleveland State to fix the problems
there.

The company -- which has sold its software to more than 400 schools -- also
said it has more than doubled the number of telephone support workers dedicated
to the student administration software and released new documentation and
installation guidelines.

But Nolan said PeopleSoft didn't promise any quick fixes during a conference
call two weeks ago. More meetings are scheduled this week, but fixing the
system could increase the school's $11 million budget "significantly," he
added.

Meanwhile, lines of 200 students are common in the financial aid office. "We
certainly don't want to go through this again next fall," Nolan said.

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