- Today has been so hectic at the Fun Factory. I don't even know where to begin except to end it with... It's all over now. Phew. For you software developers out there, today was "The Day After" implementation day. So you know what I'm talking about. Good grief.
- I did briefly look at the market around lunch time, around the time that the Fed notes and plane crash happened. My prayers go out to family and friends.
- What are those Fed members smoking? They come out hawkish on inflation when it's mild and they've already tightened TOO MUCH as it is. The economy is already slowing. The only conclusion I can make is that they want to create a recession. So far, I'm up to three "boneheads" on the Fed. Janet Yellen, Richard Fisher, and Jeffrey Lacker. "The Federal Reserve must resume tightening interest rates if core consumer inflation persists at its current level, said Jeffrey Lacker." Yes, that is the same Lacker that dissented on the two recent Fed decisions to hold rates steady.
- Lacker also said I don't think a catastrophic collapse in housing activity is likely." Not even if you jack up those rates higher, Jeff? Well, he did say "activity." As long as that definition includes "foreclosures," I suppose we could see lots of housing "activity."
- Bush calls for "serious repercussions" on North Korea. ... but said the United States remained committed to diplomacy and had no intention of attacking. So, call them a bunch of dirty names laced with four-letter words? That'll show 'em.
