Posted on 08/18/2011 5:37:03 AM PDT by magellan
Edited on 08/18/2011 7:01:46 AM PDT by Admin Moderator. [history]
Another European scare this morning. And I’ve got a couple of questions: Could some too-big-to-fail American financial institutions be lying about their exposure to Europe. And is the Fed funneling money to the ECB?
“claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust.”
Increased unemployment claims = hiring was steady?
“LONDON (Reuters) - The U.S. Federal Reserve Bank is taking a closer look at the U.S. units of Europe’s biggest banks, concerned that a euro zone debt crisis could spill into the U.S. banking system, the Wall Street Journal reported.
The $2.5 trillion U.S. money market funds industry — which supplies short-term dollar funding to banks — has retreated from the euro zone in recent months, concerned that the continent’s debt crisis is spiraling out of control.
That and the drying up of interbank lending has led to a trebling of dollar funding costs for euro zone banks in the last month. One bank was forced to borrow dollars at the European Central Bank on Wednesday.
In a dramatic shift, the U.S. branches of foreign banks became net borrowers of dollars from their overseas affiliates for the first time in a decade, Federal Reserve data released last week showed.”
http://finance.yahoo.com/news/Fed-concerned-about-European-rb-1172255831.html;_ylt=Asg.TGqZRmAJSW_BXHWmn9K7YWsA;_ylu=X3oDMTE1ODhyZTgzBHBvcwM3BHNlYwN0b3BTdG9yaWVzBHNsawNmZWRjb25jZXJuZWQ-?x=0&sec=topStories&pos=4&asset=&ccode=
Thx! Biggest problem is that trust is the coin of the realm, and the American and European gov’ts are flat busted. And, unlike their currencies, trust isn’t something the Fed and the ECB can gin up whenever they run short.
Hussein’s “base”, although “tired”, will still vote for him, so the bold lies continue unabated.
FUBO and the media whores you rode in with!
These administration-controlled economists are such geniuses that they don't know they should estimate way too high so Obama looks better when the figures come in lower.
And I don't even have an MBA from the Hahvad School of Economics to figure THAT out.
Leni
How can these ponces keep using that word?
It’s not even funny anymore,
it’s downright irritating!
Nails on chalkboard!
Dow -450 9:21 CST, wow!
Guess this means we’re going to get another one of Hussein’s speeches without anyone asking questions again.
“408,000? We know we’re a 399,000 country...”
“I just want the American people to know that as soon as I get back from Martha’s Vineyard this will be the first thing I think about when I wake up in the morning and, the last thing I think about before I go to bed.”
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