Appears there is another settlement on Lehman CDSes:

Seeking Alpha

Today is the last day for money to change hands as a result of default swaps being triggered related to the Lehman filing, and it looks like the market handled it in a surprisingly orderly fashion. Collateral was adjusted and traded on a regular basis from the bankruptcy filing date forward, and, as a result, while a great deal of money still changed hands -- somewhere between $6- and $60-billion, depending on who you ask -- it currently doesn't look like any counterparty was made insolvent by its CDS-writing actions.

Does that make credit default swaps a non-issue? Far from it. But in my never-ending search for disconfirming data, the Lehman non-event -- so far, anyway -- is a useful data point to keep in mind the next time a default event triggers an unwinding

The market was all abuzz about these CDS settlements, so much they tanked the market. It's not know how bad these credit default swaps are and even when nothing happens the market reacts it seems.

The Minutemen Project and the Minutemen Civil Defense Corps. As already most politely implied, this site is on economics, trade, middle class issues and we will talk about illegal immigration, but only in terms of labor economics, wages and globalization.

There are people on this site with the entire spectrum of thought on this topic but I'd say the goals are all pretty much about raising up middle classes even when we may disagree on what does what. The site is about analyzing what does what but only from an economics viewpoint.

I've predicted the Argentina scenario for many years now: 1) Monetary deflation, and 2) Price hyperinflation.
Normally those two things are mutually exclusive. The reason why both things happened in Argentina was because the currency fell faster than the monetary deflation.

Now admittedly I could be wrong. Economic predictions are always tricky. But if I'm wrong it will be because the Fed manages to inflate the currency faster than the economy contracts, which will also mean hyperinflation because the currency will collapse in that scenario too.

The "deflation" you are observing isn't the classic definition of deflation. It's merely a drop in some commodity prices.
Also, I don't give the CPI much credibility for all sorts of reasons that I've listed here previously.

With that said, I expect some declines in the CPI in the coming months. But that will be overwhelmed by the monetary inflation in the pipeline from the massive bailouts all over the world.

OH, yeh. There is one part of the Argentina scenario that I haven't mentioned: 3) the government seizes people's retirement savings.

The St. Louis Adjusted Monetary Base correlates well with M1 on a YoY basis. Both tell the same story of the Fed aiming a fire house of cash at the financial system, precisely to try to prevent a deflationary recession (or worse).

Keep in mind that the Euro, the Yen, and all or almost all currencies are not backed by anything other than the full faith and credit of their respective governments. Thus the ground is fertile for competitive currency devaluation.

Ultimately the firehose of liquidity will most likely give rise to a very inflationary "event" but I suspect the unwinding of the US credibility will take a generation rather than unwinding suddenly.

Both work, just look at JFK, SR. John Kennedy took bootlegging profits and entered the stock market at perhaps the worst possible time by anybody else's estimation: 1933. That stunt ended up making him a bundle, and among his kids he had one President, a long-term Senator, an attorney general, and a variety of other super-successful people.

So while I disagree with you on deflation hitting main street- it's precisely when deflation hits main street that is often the best time to jump into the stock market with both feet. Prices on stocks at that point will have no place to go but up.

....I can get it wrong. So...I withdraw my unjustified allegation; mainly on the strength of Robert's character reference.

Sirota has written some cogent analysis and is to be commended for that. He's just not interested in anyone else's real situation....

Just his own.

A typical Obamacan. Real progressives as I've pointed out before are concerned with 'Peace, Health and Prosperity for Everyone'.

Again, everyone.

Obama and his followers are only concerned with those Americans who support him. It really shows and brothers that's not the way to build a movement.

That's how Karl Rove runs....

Oil, Gold headed higher from Seeking Alpha.

Minyanville is calling it a tug of war (in reference to gold prices but has some good info on money supply).

Both don't give timing estimates, including analysts also claiming that commodities should go through the roof, due to inflation and that seems to be key in the roller coaster ride.

Deflationists are a stopped clock. One day they will be correct, but you don't set your watch to them.

Hedge funds redemptions are rampant right now, and they will continue to be for several months to come. But commodity stocks are extremely oversold. The market action is reflecting a deleveraging action, not a deflationary action.
Just look at the P/E ratio of Google as opposed to Conoco/Phillips if you don't believe me.

When the forced sellers have finally left the market I'm going to jump in with both feet.

I agree, that was the turning point and when the Democratic party turned full-bore to Corporatism and lost the working class.

On the elitism, I've seen, from the partisan left, many posts on the new creative class and how they are all educated professionals....and why can't the working class understand (those stupid shits) at how great Obama is and on and on...

so I think there is a ring of truth to the elitism charge here.

For myself, I was posting comments over and over on how I was a member of the math class and why is it if people are so damn educated they could not read the actual policy positions, money behind the scenes, voting records and advisers? ;)

To this day what bothers me more is while NAFTA is now the rallying cry to say "dirty scum sucking bastards who sold us down the river", the focus is not more on the China PNTR...for the trade deficit, debt to China just blows away the issues with Mexico/Canada and NAFTA. Although NAFTA is the bad model for CAFTA-DR and so on...
but the killer bad trade deal is the China PNTR. Talk about a giant sucking sound....it's like the job vortex of black hole economics.