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Posts Made By: jeff glancy

September 17, 2008 01:14 PM Forum: Investment Discussions

Please take this short course

Posted By jeff glancy

and tell me where he's wrong. It takes about an hour and It's pretty damn disturbing.

September 18, 2008 03:20 PM Forum: Politics

Republicans starting to tell it like it is.

Posted By jeff glancy

Unvarnished truth is a rare commodity, especially in political campaigns:

September 27, 2008 12:18 PM Forum: Politics

Palin and Couric

Posted By jeff glancy

I see the debate as pretty much a non event for both Obama and McCain.
But the interview Couric had with Palin was something else! To not have anticipated the questions that were asked either Palin or her handlers have got to be as dumb as a box of bricks.
It was worse then a deer caught in the headlights, it was one of those moments when you initially feel sorry for the person and start wondering how they could get elected dog catcher, let alone governor. (My apologies to any dog catchers I might have offended, she was actually not that good).
If she was the best McCain could find, God help us.

September 30, 2008 12:38 AM Forum: Politics

Link to the Pelosi speech

Posted By jeff glancy

Can't believe that this is what sank the bail out bill. I guess the truth hurts - more so in an election year.

September 30, 2008 12:39 PM Forum: Politics

Read this and you'll know more about the banking

Posted By jeff glancy

mess than any of the candidates:

Probably should have posted it on the investing thread but IMO we've had too much emotion and not enough education here.

October 3, 2008 02:15 AM Forum: Politics

Well the great(?) debate is almost over.

Posted By jeff glancy

Sarah has stuck with her talking points and from what I have heard, has has not embarassed herself. If she has a problem, it is that she does not have too many talking points but she is smart enough to stick with them. Any mention of the Bush record is pretty much met with the equivalent of "Why do we have to focus on the past?" Certainly she learned a lot from the Couric interview. I guess I'm holding being perky and cute against her. I know it isn't fair, but I've never liked cute and perky.
As far as Biden goes, well I'm kind of disappointed that he isn't running for president. Knows his stuff cold and presents it well and understandably. IMO he is that good and that knowledgable.
Sarah's a nice person, but the differences between the two are night and day.

October 5, 2008 01:13 PM Forum: Politics

Anyone else think Gov. Palin has overplayed the

Posted By jeff glancy

"folksy hand"?
I've written before that I've never found "cute and perky" attractive, but what has surprised me is my wife's reaction. By mutual agreement we seldom discuss politics or religion (without going into detail, it makes for a better marriage) but last night, we went out to dinner and out of nowhere she volunteered that she's getting tired of Sarah Palin. She's especially offended by what she feels is forced and affected folksiness (if there's such a word) that verges being on the borderline of insulting the intelligence of her audience.
A sign that maybe Sarah needs to rachet it back a notch?

October 6, 2008 09:17 PM Forum: Investment Discussions

Where does this money come from?

Posted By jeff glancy

Or do they just crank up a printing press?

Fed to Provide Up to $900 Billion in Loans to Banks
Fed to provide as much as $900B in loans to banks

By JEANNINE AVERSA, AP Economics Writer2 hours, 22 minutes ago

The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort Monday to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe.

The Fed's action is aimed at spurring spooked financial institutions, which are hoarding cash, to lend not only to each other but also to individuals and businesses.

Even as the Fed pledged to take "additional measures as necessary" to battle the worst credit crisis in decades, Wall Street was in a nosedive. The Dow Jones industrials plunged more than 700 points in afternoon trading. Fears spread around the globe about the ability of policymakers in the United States and abroad to turn around the situation.

The lending lockup is a key reason why the U.S. economy is faltering. Unable to borrow money freely or forced to pay a high cost to borrow, employers are cutting jobs and reducing capital investments. Consumers have retrenched.

To better open the lending spigots, the Fed said 28-day and 84-day cash loans being made available to banks will be boosted to $150 billion a piece, effective Monday. Those increases will eventually bring the amounts outstanding under the program to $600 billion.

Loans that will be made available in November to banks also will be increased to $150 billion each. That makes a total of $900 billion in credit potentially outstanding over year end, the Fed said.

The Fed also said it will begin paying interest on commercial banks' reserves, another way to expand the central bank's resources to battle the credit crisis.

Congress in the $700 billion bailout bill President Bush signed on Friday gave the Fed the power to pay interest on those reserves for the first time. The law accelerated the effective date to October 9 of this year, versus in October of 2011.

The move also will encourage banks to keep excess reserves at the central bank because they will now be earning interest on the money. That will help give the Fed more control over interest rates and more leverage to battle the credit debacle. Under the current formula, the Fed would pay interest of roughly 1.25 percent on excess reserves. A different rate would be paid for required reserves.

"Together these actions should encourage term lending across a range of financial markets in a manner that eases pressures and promotes the ability of firms and households to obtain credit," the Fed said.

A growing number of economists and investors believe the Fed will be forced to do an about-face and lower its key interest rate, now at 2 percent, on or before its next meeting on Oct. 28-29.

Such a move would revive the central bank's rate-cutting campaign which had been halted in June out of concerns that those low rates would worsen inflation. Since then, however, economic and financial conditions have dangerously deteriorated, while inflation pressures have calmed a bit.

Any reduction to the Fed's key rate would cause a corresponding drop in commercial banks' prime lending rate now at 5 percent. The prime rate is used to peg loans to millions of consumers and businesses.

The hope riding on such a move by the Fed would be to spur nervous consumers and businesses to spend more freely again.

In another move, the Fed said it would let an unidentified bank buy assets from affiliated money market market mutual funds, which also were not identified. The Fed, in a document, redacted this information along with how much in assets the bank would be allowed to buy from the funds. The move is aimed at enabling the funds to meet redemption requests without having to sell assets into the "currently fragile and illiquid money markets," the Fed said.

October 16, 2008 02:02 AM Forum: Politics

Debate III

Posted By jeff glancy

McCains best showing so far but he's either getting tired or confused towards the end. On Healthcare McCain said the average plan costs $5800/year. Either I've paid too much for years or John does not know what he's talking about. I don't know of any FAMILY healthcare plan for $5800/year. If someone does please post. Also he just blew it on his justification of Palin. I get the impression that he knows it was a bad idea and he just wishes that it wasn't so obvious.
On balance, IMO Obama gives the impression of having better command of his information and knows how to convey a concept. I believe that Obama will win on points but not by as many as in Debate I and Debate II. Thank God it's over.
Democrats will think Obama took it all, Republicans will swear it was McCain all the way. You heard it here first.

October 16, 2008 12:22 PM Forum: Politics

Everybody's gonna lower taxes!!

Posted By jeff glancy

Great idea, but if we keep doing that how is government going to operate?

Any of you out there, especially you tax cut types and defenders of the past 8 years, care to take a shot at posting your well thought out plan? Or perhaps even just your plan that you might have given a passing thought to?