2011 December | timiacono.com

The Best of the Bozeman Police Reports

Culled from the Police Reports page of the Bozeman Daily Chronicle come the best of the Bozeman police reports from the last week along with some items from the Sheriff’s Office. Note that a new book featuring the very best of these police reports is now available from the Chronicle for only $10 – just click on the banner below to find out how to order.

There was a noticeable increase last week in the kind of activity that has come to characterize the police reports section of the local newspaper, allaying concerns expressed here previously that the town had somehow become more domesticated in recent weeks. No drunks were apprehended after stumbling into peoples homes in the wee hours and passing out on the couch, but there were plenty of other alcohol related incidents along with a good collection of reports on animals including a mountain lion and a leopard.

  • A mutt followed someone home from the bar at 1:16 a.m.
  • Two drunken 19-year-old girls were pulled over for driving with the car’s headlights off at 2:05 a.m. The driver was arrested for driving under the influence and the passenger was cited for minor in possession.
  • Someone was pounding on a woman’s apartment door at 4:07 a.m. She told dispatch someone was howling outside her window the night before.
  • When a Golden Rod Lane man told his neighbor to stop shoveling his sidewalk, the neighbor began swearing at him.

(more…)

Is the Fed Secretly Bailing Out Europe?

It still pales in comparison to what was done a few years ago, but, at its current pace, the Federal Reserve’s generous central bank liquidity swaps now aiding European banks will soon rival that of the 2008-2009 financial crisis as shown below, another $37 billion being added last week to bring the total up to just shy of $100 billion.

For those of you new to this story, see this WSJ commentary by Gerald P. O’Driscoll the other day and his appearance on CNBC on the same subject.

On that Premature Tightening in 1937

I’ve never really gotten that argument about how the Federal Reserve and U.S. government tightened too soon in the late-1930s and, as a result, induced another recession. In his column today, Paul Krugman notes:

“The boom, not the slump, is the right time for austerity at the Treasury.” So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove him right by trying to balance the budget too soon, sending the United States economy — which had been steadily recovering up to that point — into a severe recession. Slashing government spending in a depressed economy depresses the economy further; austerity should wait until a strong recovery is well under way.

Yet, anyone able to look at the data back in 1937 would hardly see the U.S. economy as “depressed”, not after three straight years of real GDP growth averaging 11 percent. While perhaps not a “boom”, a “strong recovery” was certainly underway by then.

To be sure, the 1930-1933 downturn was severe, but, according to the data from the BEA above, the U.S. economy had returned to its 1929 bubble output by 1937 when all the policy mistakes were supposedly made.

Soros: Gold on the Brink of a Bear Market

Bloomberg reports that billionaire investor George Soros, who sold nearly all of his gold holdings in the first quarter and then repurchased some in the third quarter, thinks gold could be about to enter a bear market.

Of course, this just might be another case of “talking your book” since, after Soros exited his gold position, he used a large portion of the proceeds to buy gold stocks. Even after its recent swoon, gold bullion has gained more than 10 percent since the first quarter, while, over that same period, gold stocks have lost more than 10 percent.

Tagged with:  
Page 1 of 20123451020...Last »
© 2010-2011 The Mess That Greenspan Made