The site is back up and running!

Friday, September 26, 2008, 5:57 AM

Thank you for your patience yesterday as we switched over to our new,
faster server.  It took us longer than we anticipated, but the results
will be worth the wait.  You'll notice that the site now has a new look
and feel to it.  We are working to smooth out the wrinkles in the new
format, so please let us know if you come across anything that needs
fixing.  Thanks.

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machinehead's picture
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Weimar Ben's Balance-Sheet Blowout

Congratulations on the successful site migration, Dr. M! Paragraphs -- cool! While you was wrastling with that gator, Weimar Ben has been a busy beaver indeed. The Fed's weekly reports, released last night, are eye-popping.

For instance, the H.4.1 release now has THREE new lead paragraphs. Remember the old rule of thumb about too many paragraphs in the auditor's opinion of a financial statement? I'm getting the same feeling here.

What also leaps out is that the Fed's former $900 billion balance sheet is now pushing $1.2 trillion, having rocketed by $203 billion just in the past week. Quite aside from 'pushing on a string' notions (which I don't fully accept), we can all agree that Weimar Ben has the pedal to the freakin' metal like never before in history.

When Ben came on board as chairman, I forecasted on another forum that he would kick up the Fed's balance sheet growth from a crummy $50 billion a year to hundreds of billions a year. But I was flat wrong -- he did it in a WEEK! Mwa ha ha ha ...

Bloomberg reported that some $16 billion was withdrawn from WaMu before it went down. Clearly, some of it simply went to other banks. But what percentage of deposits was withdrawn from the banking system, and converted to cash, gold coins or (whisper it, friend) capital flight? Even a sampling survey of a few hundred depositors would be vital information. Consumer behavior will be at least as dispositive as the authorities' actions in determining how this crisis plays out.

I would humbly suggest that some of the Federal Reserve's army of PhDs devote themselves to this task, or hire a third-party research firm to do so. What is the "marginal propensity to redeem" of worried depositors, Ben? If you don't know, you'd better find out, buddy.

To Dr. Martenson's fundamental point about excessive debt, the Federal Reserve is now creating and monetizing new debt at the rate of $203 billion a week. Would it be fair to call this the 'tertiary' stage of the economic Ponzi scheme? Or do we still have several entertaining months ahead of 'Zimbabwefication'? As ol' Saddam Hussein used to say, "Anything is possible now, my brothers!"

gatherer's picture
Status: Member (Offline)
Joined: Sep 10 2008
Posts: 2

The New Site is nice, and formats better on my screen, well done.

I had no Idea you had a Phd, what field is the Phd in? (I'm curious)



melissap's picture
Status: Member (Offline)
Joined: Sep 19 2008
Posts: 5
Site looks wonderful - and so much faster.  You've really been educating me and I wanted to say thanks!
ELIZABETH S.'s picture
Status: Member (Offline)
Joined: Jul 15 2008
Posts: 23

Glad that you're back up and running. Looking good.

 I have to admit that I'm anxious to hear your commentary as this Friday unfolds.

gsti's picture
Status: Bronze Member (Offline)
Joined: Jul 21 2008
Posts: 60
Not looking quite so clever here

Hi Chris,

Big fan of your work, Thank you. 

 Sadly the site is not doing it for me at all, I think you have a table (container) set at 100%  so the site is looking pretty poor 1280 X 1024 on WS monitor using IE, have not tested it with other browsers yet.

 If you want a screenshot of what it looks like... let me know. Also as I had forgotten my password, I requested a new one, the request for my username is at the bottom of the page, along way from the top of the page where i clicked to request my new password, a less determined soul may have given up :)

 I only point this out as I would like you site to match the contents :)

Good luck and thanks again

cmartenson's picture
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 6064
Site looks goofy in IE...

Thanks for the tip.

I have made this the higest priority to resolve...after last night's battle, I am wondering when the cavalry will wake no promises on a fix time....

Site works great for me in Firefox, though. 

gsti's picture
Status: Bronze Member (Offline)
Joined: Jul 21 2008
Posts: 60
getting there. 100% fixed on
getting there. 100% fixed on most pages
gsti's picture
Status: Bronze Member (Offline)
Joined: Jul 21 2008
Posts: 60
Te4t0n's picture
Status: Member (Offline)
Joined: Aug 28 2008
Posts: 6
Chris's Phd


you should check out the 'about Chris' page:


Here is the line that helps answer your question:

[quote] I am trained as a scientist, having completed both a PhD and a post-doctoral program at Duke University, where I specialized in neurotoxicology. [/quote]

affert's picture
Status: Silver Member (Offline)
Joined: Sep 22 2008
Posts: 100

Glad to see that the website is back up and running: there was a friend of mine I want to have watch the crash course :) 

*edit: removed previous comment about layout*

 After I posted this comment, my browser loaded the settings,making the layout look great.

therivler1's picture
Status: Member (Offline)
Joined: Aug 24 2008
Posts: 2
Much faster, and it looks great.  Congrats.

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