teleprompters

I thought they were mirrors so he could check he hadn’t left his flies undone or wet himself.

teleprompters

What?

teleprompters

I thought they were mirrors so he could check he hadn’t left his flies undone or wet himself.

BTW friends any comments on that ION hacking story?
Impact was quite big for us in the commodities space (e,g, CFTC).

Friends, I would like to ask a fairly basic question. Is there some rule-of-thumb that links interest to GDP growth?  e,g, with the US case, the Fed raising rates by 1% point cost X% of US GDP growth. Thank you.

I don't think anyone has ever dared to try to fit numbers into the relationship. Possibly for good reason, because it all probably depends very heavily on what your starting point is: are you going, for example, from 1% to 2% interest, or from 7% to 8%? And that's without looking at the prevailing rate of GDP growth.

If I had to come up with numbers -- at gunpoint, for example -- I think I'd start with thinking about what the "multiplier effect" of fiscal stimulus is, mainly because there are a lot more hard number guesses at that ... even if they have all turned out to be completely wrong.

Then I'd make a guess at what might be thought of as the duration of borrowing: if we assume there is a fixed amount consumers plan on repaying at a fixed date in the future -- both of which are obviously wrong assumptions, but never mind -- how much does a 1% increase in the interest rate change the amount of money that people will borrow?

And then pretend, wrongly, that the change in the amount borrowed is a change in the amount of fiscal stimulus, and hit it with your inaccurate guess at the multiplier effect, and you get a really bad guess at the effect on GDP.

Thank you @Marsden. It seems intuitive to everyone around me on top of people appearing on CNBC (unfortunately we all have that useless buzz in the background on the trading floor). I wouldn't want to be the one trailing far behind.