Quote of the Day: The Dollar
“We want to support your American peso with our strong Canadian dollar.”
-Pink Eyes, lead singer for the punk band Fucked Up
Source:
Outrage, Bile, Hardcore Punk ... and a Sensible Lost-and-Found
KELEFA SANNEH
NYT, November 12, 2007
http://www.nytimes.com/2007/11/12/arts/music/12musi.html
Monday, January 28, 2008 | 01:15 PM | Permalink
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Comments
schedenfraude.
next up, mexican corporations start moving their plants here to take advantage of the dirt cheap labor.
Posted by: sebs | Jan 28, 2008 1:24:15 PM
There's a reason they are called punk bands.
Posted by: Max | Jan 28, 2008 1:43:27 PM
For you Fleckensteiners, Bill has already come up with a new tag for the dollar. He calls them xeras. As in Xeroxable Lira.
Kinda catchy eh?
Posted by: Ross | Jan 28, 2008 1:53:47 PM
Dude... that's like totally fucked up... ;-)
Posted by: Sherman McCoy | Jan 28, 2008 2:20:28 PM
In my yout I was into so-cal punk music and if you manage to hear the lyrics over the noise from bands like NOFX and Bad Religion you get the impression that there are some really deep thinkers with pink hair.
Posted by: KirkH | Jan 28, 2008 2:28:21 PM
http://www.boston.com/bostonglobe/ideas/articles/2008/01/27/the_black_box_economy?mode=PF
The black box economy
Behind the recent bad news lurks a much deeper concern: The world economy is now being driven by a vast, secretive web of investments that might be out of anyone's control.
Posted by: ma; | Jan 28, 2008 2:30:40 PM
A few years ago at a boat show in upper NY state, I went to buy a US $15 program guide and gave $20 Cdn. The offer was summarily ridiculed by the vendor, "what's next, monopoly money". My experience was the rule, not the exception. Suffice to say that, that SOB and all those with that mindset now wear the other shoe now very, very well. Wonder if he'll take my $20 bucks now, not that there's a snowballs chance in hell I'm going to give it to him.
Posted by: Stuart | Jan 28, 2008 2:31:24 PM
Yawn.......
sunday evening= asian markets sells off, our futures are down
monday morning= asian markets never recovered with the Nikkei losing what it had gained back right at the close
BUT OUR FUTURES ARE UP and got juiced early this morning.
And the headlines read:
Rate Cut hopes drive gains
Hold and Hope is now a quant. strategy...
Ciao
MS
Posted by: michael schumacher | Jan 28, 2008 2:39:57 PM
Looking at the indexes today,
the black box buy program is in full swing.
with short term rates
at ~2.3%(and going lower)
and using the logic of the day,
I now believe interest rate cuts can cure Syphilis.
Posted by: MarkTX | Jan 28, 2008 2:41:03 PM
I was in Canada when the USD was trading 1.10 to 1 CAD. The Canadians (business people) were worried because orders from the US were drying up, and Canada's economy was slowing.
Soon after, the Bank of Canada cut their rates to restore a more reasonable exchange rate. That move recently had the currencies trading at USD 1 to CAD 1.03. Since the Bernanke Put, the currencies are moving towards parity once again (CAD stronger, USD weaker).
I wonder if Canada will cut its rate again?
Posted by: Marcus Aurelius | Jan 28, 2008 2:55:10 PM
" wonder if Canada will cut its rate again?"
definitely, at least two more cuts 25 bps each are in the cards before summer.
www.bankofcanada.ca
Posted by: Stuart | Jan 28, 2008 2:58:44 PM
It's a funny comment becaue its true!
Pretty funny how after 8 yrs of the party of "fiscal responsibility" we have a dollar that has gone down the toilet, a huge budget deficit and the Fed is pushing on a string trying to revive our dying economy.
Posted by: Christopher Laudani | Jan 28, 2008 3:59:34 PM
Coincidence that this guy sold out of SG two weeks before the "rogue trader" crap??
http://finance.myway.com/jsp/nw/nwdt_rt_top.jsp?news_id=ap-d8uf31ao0&
Sold over $140 million from two different entities and it's all "just a coincidence".
A jr trader swings around $75 billion, in a unit that does $15 in rev YEARLY, and it's just a coincidence that position was sold before any of this came out.
And speaking of bullshit look at the Dow.
Gotta love that
Ciao
MS
Posted by: michael schumacher | Jan 28, 2008 4:03:48 PM
More coincidence,
Major indexes end at the HIGH OF THE DAY...
OH YEAH,
President to give speech later today.....
Posted by: MarkTX | Jan 28, 2008 4:14:13 PM
It's clear that commodities (and therefore commodity currencies) have achieved a permanent level of high value, especially compared to so-called financial assets. At long last they are beginning to be recognized as the ultimate asset class that must be owned.
Posted by: Ollie | Jan 28, 2008 4:17:59 PM
Wow, punk music sure has changed. I wonder what his GAP corporate sponsors think?
Posted by: Chas | Jan 28, 2008 6:25:33 PM
Yep, this ought to do it...
Ollie wrote, "It's clear that commodities (and therefore commodity currencies) have achieved a permanent level of high value,"
January 28, 2008....
"Stock prices have reached what looks like a permanently high plateau." - Irving Fisher, Ph.D. in economics, Oct. 17, 1929....
What rhymes with "We're freakin' doomed"?
Posted by: Winston Munn | Jan 28, 2008 6:45:21 PM
ma,
Thanks for the link. I'm the resident nerd at my two jobs so I get a lot of questions from very scared folks about the economy. I think I'll pass a copy of that article around tomorrow to let my co-workers know they aren't alone with their fears.
Posted by: vachon | Jan 28, 2008 8:29:11 PM
