Nancy Peloshit Is Confident Again

Peloshit: I’m “Pretty Confident” China Will Not Overtake The U.S. Economy…

Via PJ Media:
House minority leader Nancy Pelosi dismissed a recent report that said China would overtake the U.S. as the world’s leading economy sooner than anticipated.
Pelosi was asked if Americans should be concerned about the International Comparison Program report, which compared the real cost of living instead of exchange rates and concluded that China could become the world’s largest economy this year.
“Americans can be very confident in the strength of our economy,” Pelosi told PJ Media on the red carpet of the Google/Netflix White House Correspondents Dinner pre-party. “The most productive workers in the world, the safest place to invest money, the freest people in the world so I feel pretty confident and the American people feel confident about our country. Enjoy the evening. Lighten up!”

"And I'm pretty confident you are a clueless moron and your head is full of dust. She was pretty confident the Democrap's were going to keep the House in 2010 also. This witch is so self deluded

Al Sharpton Battles The English Lanuage

"Nice job BSDNC. Keep up the good work." MC

Picture's, Joke, And Quote Of The Day

"Feel free to share"

Picture's of the Day:

Joke of the Day: 

Magic Hat

While in Florida I needed to go to the emergency room.

Not wanting to sit there for 4 hours,
I put on my Magic Green Hat.

When I went into the E.R.,
I noticed that 3/4 of the people got up and left.

I guess they decided that they weren't that sick after all.
Cut at least 3 hours off my waiting time.

Here's the hat: Below.

It also works at Dept. of Motor Vehicles. 

It saved me 5  hours.

At the Laundromat, three minutes after entering, 

I had my choice of any machine, most still running.

If you live in Texas, it might cut your wait 

time at the grocery store.

But, don't try it at McDonald's. The whole crew ran out 

the back door and I never did get my order!

Quote of the Day:

 "By suppressing bond yields The Fed has taken a means of faking growth and embedded the cost of that into every portfolio that includes long-dated loans such as mortgages and Treasuries. This cost will remain until those debt instruments mature or are prepaid, and there won't be as many prepayments (in the private sector) as usual since the instruments were issued during a time of intentionally-suppressed rates.

That cost accrues because the discounted price of the instrument is higher than it would otherwise be, and the yield lower. Whether that cost shows up in the form of capital depreciation or lower coupon doesn't matter; it cannot be evaded.

In effect what The Fed has done is provide a temporary "goose" to economic activity totaling several trillion dollars over the last four years but the price of that "goosing" has been distributed to, and embedded in, the portfolios of those who hold these instruments including the bonds held by Social Security and Medicare along with private pension concerns.

You didn't hear "QE" described this way, probably because there would have been an immediate call to indict, prosecute and imprison the entire FOMC for fraudulently manipulating economic reports and statistics were it to have been accurately described but mathematically it is this way.


I've been pointing this out since the beginning of "QE" -- but the fact is that nobody wants to talk about it in detail because as soon as you do you're forced by nothing more-complicated than basic Algebra to admit that all of these machinations are nothing other than a scam intended to mislead both business people and the general public, willfully and intentionally engaged in by Congress, The President and The Fed all acting together." --Karl Denninger