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Floating on air: Treasury bills go negative

Tuesday, December 9, 2008, 5:30 PM

Separating truth from fiction, especially when listening to politicians and Fed officials talking about the positive aspects they see in our economy, is never easy.

However, separating words from actions is as easy as pie.

Today, something so unusual happened in the world of bonds that I have to tell you about it. (All quotes below from this one article).

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Daily Digest - Dec 9

Tuesday, December 9, 2008, 7:56 AM

Demise of the middle class,  CSFB forecasts more than 8 million foreclosures, November job losses analyzed, pending home sales expected to drop, Big Three nationalized, Chicago workers continue their sit-in.

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Daily Digest - Dec 8

Monday, December 8, 2008, 1:11 PM

Fred Thompson on the economy (video), Time & Co. to borrow against flagship building, Hard Numbers by Kevin Phillips, Paul Volker is back, Nassim Talib on bystanders....

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DVD .ISO Master Files available on BitTorrent

Sunday, December 7, 2008, 11:18 PM

If you are located in North America, the best way to get the Crash Course on DVD is to place an order for as many copies as you need at www.crashcoursedvd.com. As described in an earlier post, they are very inexpensive in quantity and will begin shipping on Monday Dec. 8th.

If you need the PAL version of the DVD (which works in Europe, Africa, and much of Asia), or if you prefer to download and burn your own NTSC version (which works in North America, western South America, Japan, South Korea, etc.), you can use BitTorrent to download the master file for the DVD (called a .ISO file) and make your own DVD using your computer's DVD burner. Instructions follow:

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New Martenson Report ready

Sunday, December 7, 2008, 10:15 PM

Part II of the prior Martenson Report is now ready.

A Crisis Is a Terrible Thing To Waste (Part II) - Quantitative Easing

Conclusion:


The Fed has begun a very aggressive program of money printing (that goes by the fancy name “quantitative easing”) and shows every indication of continuing this program into the indefinite future. Chances are that the Fed will err to the inflationary side with this program, raising the prospect of serious inflation emerging at some point over the next year.

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DVD Fulfillment Update

Sunday, December 7, 2008, 12:49 PM

UPDATED Dec. 9th 2:00pm Eastern Time

Our initial order with our fulfillment partner was for 10,000 DVDs, but All 10,000 discs sold out in the first 36 hours! As of this morning (12/9), we have orders for more than 14,000 DVDs! The first 10,000 discs were shipped from Texas today, Dec. 9th. The vendor is now producing another 7,500 DVDs and expects to ship the remaining orders on Wednesday or Thursday of this week, still in plenty of time for Christmas.

If you have not yet placed your order, I recommend you do so immediately. There are about 3,000 more DVDs in the 2nd production run that can be shipped in time for Christmas. Once they're gone, subsequent orders won't arrive until after the holiday.

The vendor is still saying that regular ground orders placed before 12/12 "should" make it well before Christmas, provided that the remaining 3,000 DVDs don't sell out. However, I know FedEx ground has had problems with the holiday rush in past years. If you place new orders for ground shipment, they "probably" will arrive before Christmas, but you should be aware of the risk that they might not.

Ordering info is repeated below:

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Daily Digest - Dec 7

Sunday, December 7, 2008, 10:56 AM

Foreclosures soar to record 1.35 million,  unemployment in the Great Depression, minimum pricing battle, job creation by administration, and more bailouts.

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Daily Digest - Dec 6

Saturday, December 6, 2008, 10:10 AM

Gold price manipulation,  bailout lacks coherence, liquidity trap, Citi Ponzi scheme alleged, Harvard endowment loses 22%, worst retail in 35 years, China faces social unrest, one-in-ten (!) mortgages in forclosure, Jon Stewart video, CA issues IOUs to vendors, community proposes to print own money, and a challenge from Chris Whalen to Timothy Geithner.

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UPDATED: Crash Course available on DVD!

Friday, December 5, 2008, 6:00 PM

3-26-08 An update for anyone who might have encountered this old blog entry:  If you are interested in ordering DVDs, please click here. The old links (below) are outdated.  Thanks!

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Fuzzy Numbers: Jobs report bad at minus 533,000, but made to look better

Friday, December 5, 2008, 8:33 AM

As expected the employment report for November was bad having shed 533,000 jobs with unemployment advancing to 6.7%.

WASHINGTON (MarketWatch) - U.S. nonfarm payrolls plunged by an astonishing 533,000 in November, the worst job loss in 34 years, the Labor Department reported Friday.

It's only the fourth time in the past 58 years that payrolls have fallen by more than 500,000 in a month. Since the recession began 11 months ago, a total of 1.9 million jobs have been lost.

But it would have been worse had it not been for the mysterious positive addition of 30,000 jobs by the so-called birth-death model.  From here on out we'll just refer to it as the birth-birth model because no matter how bad the underlying economic data this model somehow always adds jobs in every month except typically January and July when the model backs out a few of its more irrationally exuberant additions.