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The Dow suffers biggest one-day point drop since April 20, biggest percentage drop since July 2. At least demand for Treasuries is there.
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for a couple of seconds, the print was 9999.99
In a related story, Leo Kolivakis was seen standing on a ledge, clutching a bottle of Jack Daniels, and yelling, "Why God? Why?"
CNBS reporting that Dow 10,000 was defended by a massive buy of solar stocks heading into the bell....
Ahh solar stocks... i think CNBS means PPT buying hopes are dreams made with sunshine, rainbows and star dust.
Don't forget the unicorns....and maybe leprecuans, but never the forget the unicorns...
you guys are kinda mean! boyz will be boyz, i guess.
What, you were expecting little feathery pink boxing mitts and spangly protective jock-straps...in the FIGHT CLUB????
+ oh i forgot! i sure don't think like marla.
Only kinda mean? Darn, i was looking to be fully straight-on pissed off with a hint of downright feeling ripped off.
If you re not angry then you are not paying attention.
Speaking of which...
Are you there yet?
Are you ready to finally pull out all your funds from banks and Wall Street?
Sell off all stocks/trades?
Perhaps even go on a labor strike with your co-workers and picket your State government?
Or are you just sitting there like a good sheeple?
done
done
and done
don't work, no co's but marched on D.C. in the 60's when we were still free.
(Rocking avatar, wish I'd thought of that.)
Oh leave Leo alone. The sad part is, some of us begged him to be careful, etc.
Lets hope he makes out okay or inly slightly burnt.
Be nice--we're all friends, aren't we?
solar tech is a good investment, just not now. they will be a good play, at 1/3 of their current price
Girl you change your avatar like I change my hair colour.
In fight club, how you know you just met your best friend is s/he gave you two fat lips, a black eye, and a rapidly thickening left ear.
I read the book on the plane 2 days ago.
Hey I got a new look! See, you gave me advice and I took it! :-D
Of course it doesn't show well in this wee format...o well. At least I finally got the change in and at least I don't look like I have facial hair any more. No more Sirs for me...
How'd you like the book? I'm a complete sloth and have yet to read it, but it's on my MUST list. (sigh, has been for some little time now)
Do you have a link to the pic in question?
I do like that you don't look like a dude!
I liked the book pretty well. Read it in an odd context, I followed it with a book called "Sacred Demise" by Carolyn Baker. Not done with it yet but it makes great points like "stop trying to prevent collapse and instead be present with the collapse" stuff like that. So Fight Club, read on that plane trip, looks like an extension of the collapse movement. But it was not written to be that. It has, however, taken on a life of its own. It is worth your time.
I have been thinking about your term 'the collapse movement'. I don't know what that means but it sounds intriguing! Can you expand?
I will look for a link to the pic...I don't think it's your style since the pic is not very sexy and well, you just seem like sexy is part of your style! It is for me too sometimes but when it comes to the world of finance, 'macabre' and 'insane' are more me so...it's a pic of a young girl, mouth and hands covered in blood, eating...what? could be raw meat, could be her own flesh. Very OECD.
The whole 'Renfield' thing with me is that most of the time I sound like I'm off my rocker (or so my friends & family say, my enemies prolly worse) and it's the complete opposite of what people like/want. Fair is foul foul is fair kinda thing. Hence, my pic gotta reflect that somehow.
I'd like to hear about 'collapse movement' though...In vain I have been trying to find a copy of Strauss & Howes 'The Fourth Turning'. It looks like I must break down and order it online. But the bits of it I've read online continually fascinate me, that the different generations go thru the same cycles over and over.
Anyway. Collapse movement...Google doesn't turn anything up which is hardly surprising given the terms...is that your own portmanteau term for something?
You know, when the only way out of this mess is politically not possible, then you say to yourself, "Gee, why not just let the whole shebang go to hell, and we'll just have to start over again from scratch."
I think that's the collapse movement, and that maybe I agree with it.
If that's the case, I think a lot of Americans, Brits, and Europeans are part of that movement.
Aus and Canada have been last to get the memo, but will be showing up to the party later. Hopefully not being sweet and polite.
Despite all the complaining on blogs about American apathy, I love Americans b/c they have the good sense to be ANGRY. (Not the government. The people.) They're blogging, youtubing, shouting the truth from the rooftops, walking away from mortgage prisons in droves, driving the corporate propaganda MSM into bankruptcy, and throwing out incumbents in Massachusetts. It's not enough of course. But at least it's a start.
Wish my people were at the point you guys are. Hate being a day late and a dollar short when we should be breaking windows and burning cars by now.
You see, a reset is better than incessant performance reviews, mortgage prison, property taxes, speeding tickets, American Idol, late fees, and the fear of living on the street someday. Not to mention Nancy Pelosi's smile.
Gawd Nancy Pelosi. When I first started watching her and studying her the bullshit layer of what she wears as a cloak just makes me laugh now.
Leo still doesn't have solar at his house and still doesn't know what a PPT charge controller means. So I'll make fun of him till he USES THE SHIT HE BELIEVES IN.
With the converter right out of the box I can see him with the polarity fucked up and warranties voided - even though the warning is plastic mold injected right on the converter.
They make a 13W briefcase panel that's good for travel once you have to put all your belongings in a shopping cart like Viggo in The Road. Keeps your rechargeables full.
He'll finally buy a 10kw system and watch it fry from a huge coronal mass ejection that will be amplified many times from haarp as they sit there and experiment with shit they don't understand.
Ha! Good one.
The sun has been quiet lately. Maybe it's waiting for LK. Or maybe it's saving itself for the 200th anniversary of Tchaikovsky's inspiration:
http://www.youtube.com/watch?v=u2W1Wi2U9sQ
What will happen in 2012?
But his balls were on the table, flattened like small pancakes.
Send him syrup.
DH / Mozy on back over to that previous Berkshire thread we had. I left you another position regarding the 30-year (cycle work). An old timer once told me "...that liquidation drives markets..." We're seeing a lot of this today. Markets always seeks out ways to hurt the weakest hands the fastest. Recently we've been noticing the markets are over-extending levels in almost every case, only to stop and aggressively reverse, stripping away profits in hours or days (of which, normally would take weeks or months). Vol is expanding. Most managers are paralyzed. MORAL: When you make money in this market, take the money -- period. Hang in there. We'll talk...
will do...thx AR
it reminds me of that March 666
mr. head wondering if this is of interest to you.
http://blogs.nfl.com/2010/02/04/the-who-rock-the-halftime-show-news-conf...
pete and roger does rockin news conference.
i'm looking forward to The Who at halftime....i like a lot of their stuff....hope Pete plays his old Gibson SG
Does this mean I shouldn't buy anything because I did.
Based on the perpettual dip theory, I'm pretty sure this means you should be buying everything across the board.
Can anyone confirm this??
During a rally, the Buy on the Dips Theory works.
In a bear market, it turns into the Martingale System.
the market is a mess, so newbies stay out. If you are asking for advice like this, you probably shouldn't be playing at this time.
I should have turned my <sarcasm> flag on :(
:)
9970 Dow Mini to be sure...
http://www.jubileeprosperity.com/
Trust Burnanke to ruin a ZH good news story
Never fear, Bernanke is here.
"Bernanke will continue to print money until there are no trees left in America."
-- Jim Rogers
Ever notice Bernanke's tendency to LIE.....
Bernanke is not a liar, he is simply doing as his masters tell him to (the Rothschilds, Morgans, Warburgs, etc). See
www.save-a-patriot.org/files/view/whofed.html
You may enjoy reading http://globaleconomicanalysis.blogspot.com/2009/11/ben-bernanke-pleads-for-his-job-my.html
Well aware of that - http://yophat.blogspot.com/
And those guys love a deflationary spiral (all assets roll back to the creator of the debt/money)!
Which goes back to helicopter Ben being a LIAR!
They like his beard. It reminds them of a mandable. No lies can be told without one. Besides, they don't use theirs. They would rather just have the skull and crossbones ;)
'Merry is the hall where beards wag all'
Don't forget the Queen, the Gettys, the Vatican, Aaaaand Colonel Sanders (before he went tits up.)
Unfortunately our cash is actually made from cotton and linen fabric; no paper involved. Ben can start importing the stuff by the tankerload from Egypt. Very renewable.
No, no lets reuse our underwear and socks, this way we will feel green and at the same time helping country!!!!!
but fed servers will never run out of bits
Printing money till America runs out of trees...
I think if you check, you'll find that most of the money's paper stock today comes from China, on an outsource contract initiated by Mr. Bush's administration. The Chinese ran out of trees a long time ago though, so the pulp comes from recycled American trash.
NOW CRAMER CAN TELL
THE SHEEPLE , THIS IS A FANTASTIC
OPPORTINITY TO BUY THE INDEX AT
A DISCOUNT !!
GO TEAM GO !!
He's already been covering his ass by saying that 2010 will not be like 2009.
No, he said "sell sell sell" on Friday, before the bounce, and then yesterday he was on twisting the head of a teddy bear saying that the "game has changed for the bears" and mocking bears in general.
The best way to make money is to go against anything he says.
Don't forget his awesome call to buy GS at $157.
"I am calling the bottom!" Honk Honk
Honk honk indeed. That fucker should ride a unicycle and juggle bowling pins.
Did you notice that he hasn't made one bearish call since the beginning of the downturn?
The bear button he pushes is my favorite, but he hasn't pushed it in like six weeks! I'm like "push the button that goes RAWR! PUSH IT!"
BAC going to 35! MOOOO!!! Buy buy buy!!!
"That fucker should ride a unicycle and juggle bowling pins."
Let him catch knives...
Yea! I get to wear my hat again!
Also, long SDS, TWM, and ZSL as of yesterday (shorted the oversold bounce).
Nibbled on EEV today. Greedy?
As Rahm Emmanuel said "you shouldn't let a crisis go to waste."
No EDZ?
He actually said a "fuckin'" crisis...
I thought it was a "retarded" crisis...but I may have misheard.
He said, "My father says...."
If we can just get a few D.C.
Zombies to make a few comments about
Stock Market "Health Care" on
TEEVEE that should be enough to have the
Dow around 9700 before Noon Friday !!
Here's a little fun fact:
The last time the dow crossed the 100sma on the downside was June 2008, at ~12.5K.
It didn't cross it on the upside until April 2009, at ~8K.
Can I get CNBC balloons and whistles with my 10k hat?
Only with verified MTLQQ shares.
Deflation bitches!! this is the last time I am telling you
feels good to be short Tyler this is vindication my man...
In a related story Cramer thinks "the industry (real estate market) could work its way back to boom level." http://www.cnbc.com/id/35218668 let's wish him good luck.
EVERY one of those bulls are bleeding red in that link...
lmfaoooooooooooooooooooooooooo
Yeah, even though the Dow closed below 10000 at the bell, suddenly, it magically closed above 10000 after the close.
Not sure what the rule is but I think they are allowed to process a few last-minute orders after the ceremonial bell is rung.
OK so the squid is selling?
And the White House is looking for someone to blame it on.
And Obama decides to skip the EU-US summit.
Are the remnants of this administration starting to circle the wagons?
WW III is commencing ladies and gentleman. I say HYPE, but really, anything that can happen, will.
At long last we have our first major indictment. You will be pleased to read Ex-BofA chief Lewis charged with fraud.
New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America executives, including former company CEO Ken Lewis, for their role in the company's controversial purchase of Merrill Lynch.
Can we please release the guys busted
for a little pot/etc and make sure we have
PLENTY OF ROOM IN PRISON
for certain "special creatures"
:)
How about that haircut on gold and oil.....
Gold to six thousand by the years end! 65 trillion dollars printed in the Spring! The sky is falling, the sky is falling!!! Get your AK and plenty of .762 ammo, get some canned spam, and we're all going to die unless you buy physical bullion tomorrow!!!
GOLD BITCHEZ!!!
LOL Oil is highly overpriced also...filled the strategic reserve in Dec...boats sitting full in the ocean...refineries at 80's levels....and that's with Saudi throttling back production by 4 million b/d!
I thought I heard a story yesterday about refineries at the lowest levels that they've been at, and even some severely paring back production.
And yet, even though oil has been steadily falling... are our gas prices coming down at all? Sadly, I don't see it.
That's why the refineries are at 80's levels and Saudi Aramco cut production by 4 million b/d.....to keep prices up!
Just imagine what the price at the pump would be if they shut a bunch of refineries down entirely.
Can't happen? You think not? With everyone used to $3/gal in the US, you think anyone would flinch if they shutdown 10% of capacity and went to $3.50 next week?
Wait for it. Just wait for it.
cougar
+1e6
And watch Iran.... Cut off the Straight of Hormuz and oil prices go exponential.
hence the activity in somalia and yemen to keep that route open........
It's hard to find someone that already knows we have troops in Egypt. People just don't get it. It would be easier to explain why Israel has nukes. Yemen is just another FedSpeak word at this point. It might as well be the name of an iceberg that just broke off of Antarctica. Fuckin' jihadist penguins - straight out of a James Bond movie.
Damn I always thought The Crusades 2.0 was about spreading Democracy, err um WMD's, I mean bin Laden.
If you knew we were about to enter HYPERINFLATION you would put oil on as many damn boats as you could. Also, they are pulling back production because their fields are running dry.
That's a crock! Saudi uses absolutely zero technology....basically thrust a straw in the ground and watch oil pour out. When that changes....I just might start to believe you!
gold will test $700...deflation is coming, gold will not escape...keep your dollars they will worth much more
Try and buy PHYSICAL GOLD for that price even when some fantasy lalaland exchange declares that the price to be.
I'm 25% physical gold and adding.
Dollars? Bullshit. No funding behind it, no promise. Nada.
You might want to wait to add until gold goes through its next downcycle. Why leave money on the table?
One word: supply.
That pesky problem will be resolved when the next downturn shakes out the weak hands.
There will be plenty of supply.
Or wait... let me guess... half of the gold in existence is Tungsten, and so when people discover that it'll DOUBLE OVERNIGHT!!
I agree bates but it really depends on how much further you think the price can drop. I highly doubt that gold will get lower than 1000 and silver might, and I mean in the slitest, get to 13 but I bet it only drops to 14 and change at its lowest point. 15 is a good buy for silver and anything below 1050 is a great buy for gold.
The real name of the game is volitility and no one really knows what will happen but I think most of us know what really has value.
Well, people highly doubt that all assets will fall from the peak. I don't know where it's going, but yesterday there were all kinds of people saying that the STRONG support at 1080 would hold. Then I pointed out the descending triangle that broke today.
Burnie
Honestly, I could give a flying fuck about the computer price of paper gold. Or paper silver for that matter. :-)
Yes, make your paper profits any way possible...buy and sell GLD and SLV all day if it thrills ya. But for us at the end of the day, any paper we make gets rolled straight over into bullion. Paper is for playing, bullion is for keeps.
Once I understood that, I realised it's not really about the paper or the Kitco 'price' at all. It's about how much you can get, at whatever time you can afford to buy. When the 'price' drops far enough, there will be a lot of dealers going completely dark and when bullion gets 'cheap' enough, good luck getting any at all.
In the real world, I mean, not the fun-fun world of Comex numbers and Kitco charts.
I could careless of the paper price as well, but it does matter in terms of a buying opportunity. Regretfully I bought about 4200 dollars worth of gold and silver about 2 weeks ago and I could of saved myself about 300+ dollars by simply waiting. But alas how could I know people would be more concerned with the default problems in Europe than the US even though it seems the US is at greater risk?
But my points to bates was simply if he waits to long he wont be able to buy any gold or silver or at least not at a decent price. These markets seem to be extremely volatile, especially within the last 2 weeks. Gold and silver keep getting hammered but they also keep getting back up after each throw down. Gold seems to be like Rocky, just keeps taking hits and dishing it back out slowly but surely.
I think today like a couple weeks ago is just another indication that any day can flip like a switch and it could be at any day that the contraian dollar play flips and winds up back on its head.
Burn baby burn
Yeah, it's true, sometimes a few days can make a difference in how much you get. But, that's the investor's life, isn't it? Unless we are lucky enough to hit the exact bottom fiat price just before the upleg, we will always be leaving money on the table. After awhile we get used to it...altho the temptation to beat up ourselves after missing a better buy is there of course! Coulda got more bullion for the same amount of fiat...
BUT!
Richard Russell (who began publishing the Dow Theory Letters in 1958 which is still going) turned my whole world upside-down when he observed:
"The rich man accumulates and holds ten thousand ounces of gold. AT one point (such as today) his gold holdings are worth $12 million dollars. He's still rich.
"Then gold declines to a price of $700 an ounce during a crushing world deflation. Bankruptcies rule, and the price of anything and everything with debt against it has collapsed. At this point the rich man is holding $7 million worth of gold. The fellow is still very rich. Next comes a runaway inflation and gold climbs to $2,500 an ounce. Here the fellow owns $25 million worth of gold. Now he's almost embarrassingly rich, at least in relation to his neighbours.
"You see the point. In holding ten thousand ounces of gold, this fellow is always rich, but let's call it shades of rich depending on the economy. So the rich man isn't trying to 'beat' or 'out-trade' the gold market. He holds his gold as an eternal store of wealth through good times and bad...
"Conclusion - Learn from the rich man. Never mind today's price of gold; mind how many ounces of gold you own."
http://www.321gold.com/editorials/russell/russell010410.html
When I started measuring my wealth in terms of bullion supply, rather than paper, boy did I stop sweating the fiat loops. Now what I sweat is real supply, not fake paper supply, and can I get my hands on it before it dwindles too far out of reach for me.
All that matters is how much bullion we own and that's how rich we really are at any given time. (Well, also counting real assets such as a house, food supply, and so on of course.) The fiat price travels up and down relative to the larger markets; but the real price of gold stays the same.
Agreed, strangley as of late I have been thinking of it in those terms. I have even started pricing things in silver when I go to the store to buy something with dollars. I am always thinking "thats __# of silver!". Makes things change your perspective indeed.
Unless they make it illegal and confiscate it all..... http://yophat.blogspot.com/2010/01/executive-order-fema-governors.html
And my point to you is, there will come a time when people want to get rid of all their gold, and then you'll see quite the decline in the price.
There's various reasons why this could happen, aside from currency issues...
A fool and his money are soon parted
That cycle could look a whole lot different this year than it did in previous years.
Nobody is dumping gold when all paper assets get dumped.
Demand from central banks is too strong for that to happen.
Nope! Gold to test $1040 first. And your solar doelarrs are worth less at DXY than in July, the last time the DXY was at 79, because...you ready? Because gold was $911 then. Use the graphs together, it works much better. That way, you can see the WHOLE PICTURE!
Banks use gold as their proprietary loan. It will be the last thing they, and I, sell. I will add, I think DJ vs Gold should be par, but I do not see Rockefeller thinking that DJ 700 is a good idea.
Ya when gold is worth 700 the dollar will be worth 1/10th what it was. If you want to ride an exponential collapse structure versus a linear collapse structure. You do that.
You want something a little nicer than an AK47. I can reccomend an F2000, FN's 21st centuary assult rifle. Lots of 5.56 NATO armor piercing would be good too.
If things truly hit the fan, you'll want the AK because you can swim with it, roll it around in the mud, take a piss on it, and it'll still fire every time.
I DO have a gun that fires 5.56 ammo, but it's not the one that you talk about.
A modern assult weapon is pretty hard to jam. H&K makes their guns cycle full of toothpaste and the G36 would be a good second choice. The AK cycles because it is so lose. It is not an especially accurate rifle.
The AK47 is a classic but someone withan F2000 will kill you from several hundred yards away with little trouble. A short weapon with sniper rifle accuracy. With 3 round bursts you are very dangerous.
Now if you could score one with the grenade launcher and some 40mm grenades you are a one man army.
I have a Bushmaster AR15 that is only semi-auto, but I'll convert it to auto if SHTF. The only reason I don't is because it's illegal...
It's really accurate, although I can't say that I know much about guns.
I have an AK too, but I like the AR better.
I wouldn't even know where to get the grenade launcher. LOL
You would need to change the fire control group, get an M16 bolt carrier, and possibly remove a drop in auto sear block to convert a Bushmaster using a drop in auto sear. You can't simply convert it by playing with some springs. The BCG in Bushmaster is not an M16 carrier like in my Colt 6920, it is an Enhanced AR-15 bolt.
Hmmm... well I guess that that shows how ignorant I am!
I figured it'd be easier than that. LOL
The Belgium FN-FAL, probably not all of em', would do full auto by simply putting the safety in upside down. Another nice piece.
Full-auto is a waste. Battles are won one shot at a time, not spray and pray. Keep it on semi. Re-watch Unforgiven for an example of control.
FS2000 is clunky as hell and has a trigger that makes the AK's tractor-factory trigger feel good. Also, lots of plastic parts around the vital feeding mechanism. Stick with a good AR-15, or a SIG 556 if you want a 5.56 rifle that takes standard magazines. And consider an AK or something else that fires a heavier round. 5.56 just doesn't have the muscle to get through walls and cars the way 7.62x39 or 7.62 NATO do.
Um, exactly:
http://www.youtube.com/watch?v=hr9KLlAFDVI
But if you want to out-shoot the best of the best 5.56 shooters (> 250 yards) go for 7.62X51, not 39, Master Bates. More power than an AK and real accuracy. That is if you are serious. Sell your popguns and get the M1A.
You do need work done on the trigger chain, it's a bullpup after all and that plastic is polycarbonate and nylon. The F2000 takes standard NATO mags.
It's nice to have a 30-06 along but it boils down to what you can carry. An F2000 or the like and a bunch of 5.56 lets you haul more raw firepower and it'll do for your close and longer range needs.
Which is why you want the M1A. It's 95% .30-06. 5.56 only satisfies @ <250 yards. It's a really fast .22, that's all - anyone claiming better than that has special shooting gear, patience, and a perfect day. People in battle don't have those luxuries - and if you did you would want a Barrett .50.
I called my bullion dealer and, after being on hold because there was so much activity, he reported that most of their activity was clients buyng hand over fist. And see Jim Wilie´s article on www.goldseek.com about the real scarcity of physical on the London and New York markets and other information never on the major media.
All I care about is how many profitable trading days GS and JPM will declare they had in this first quarter of 2010.
If they have a close to 100% trading success rate now, the shit will hit the fan and buildings on Broad Street will burn.
its inflate or die with the boyz in DC--as Robo points out in his gut busting posts---this is to get the herd going in one direction for a short term specific play--this pimp-n goes on every time there is a damn auction--you see a few days of negative news---next thing you see is a huge flash and if you lived---the mushroom cloud---then after a week or so...past the conclusion of a wonderful treasury auction---the markets are miraculously declared a rad free zone and the usual and now expected whipsaw-bottle rocket ramp game recommences....Right now I would love to be short the hell out of anything printed on paper and based on promises on fundamentals alone but the market no longer trades that way--so I opt for what I can guarantee will get me through the Thunder Dome and that's gold, guns, and gardens along with good friends.
OOPS, my mistake
At long last we have our first major indictment. You will be pleased to read Ex-BofA chief Lewis charged with fraud.
New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America executives, including former company CEO Ken Lewis, for their role in the company's controversial purchase of Merrill Lynch.
Can we please release the guys/GALS/GIRLS/WOMEN/CHICS,ETC
busted for a little pot/etc
and make sure we have
PLENTY OF ROOM IN PRISON
for certain "special creatures"
:)
I'll put $10 to win on #2 in Race #3 at Santa Anita. Neither the horse, jockey nor trainer has an MBA or complicated algorithmic hedging strategy.
So close... $10 place paid $25:
# Horse Jockey Weight Win Place Show
1 Princess Suances Gomez G K 123 6.00 3.40 2.60
2 A Clever Ten Bejarano R 123 5.00 3.40
4 Burna Dette Talamo J 119 4.20
" CHANGE " , :)
This time last year when the new administration took office they decided that this was not a debt crisis but a liquidity crisis. Since then (co-ordinated world wide) there has been a stampede to liquefy the world, the likes of which we have never seen before. We have witnessed a 50% rise in total sovereign debt worldwide (with Moody's estimating it will rise another 50% by 2014).
One wonders if we are at the point yet where there will be at least some debate about the slight possibility that all along this was a debt crisis? And that by framing it as one, we may actually start to deal with some of these issues as opposed to merely "extend and pretend".
One can hope, that some point (despite the clusterfuck of the U.S political system) something will change. Regardless of the fact that 18ms after LEH failed nothing has changed. No new financial regulation, no way to deal with aig, fnm, fre, no accountability and no responsibility.
I agree with 98% of what you said, but 18 months after Lehman one thing has changed: The private debt crisis has become a sovereign debt crisis.
Instead of TBTF corporations teetering on the abyss, we now have nations doing so.
Change we can believe in!
(OK yes, I'm aware that the bailouts began with Bush, and also that Obama is not responsible for the stupidity of other sovereign bailouts...it's just that the slogan is really so a propos.)
+11 quadrillion
Change we can believe in was not only Billy C's, but Herbie Hoovers platform as well. Back then pennies from heaven meant something.
This is global pandemic, what country - left/right, communist/capitalistic, hasn't responded to this crisis by spending/indebting/printing money? Its a global race to the bottom. In US, its all about propping up the banks by not letting housing drop, but there is no HAMP, HOPE whatever etc..for CRE.
I guess things have to be really brutal before Wall Street doesn't get everything they want...we apparently aren't there yet.
Liz they aren't going to deal with the crisis because fiat money is the cause of the debt crisis. If they were going to be responsible they would pay of debts with objective assets (like gold) instead of fiat currencies which are debt instruments. Having a fiat currency is their greatest strength and weakness.
Lizzy,
and they're not going to raise taxes either, lol.
Politicians of all stripes and their promises are all very much like that old joke about the three big lies, where #1 was "it's in mint condition", #2 was "the check is in the mail" and # 3 was "I promise not to come in your mouth."
Did you really think anything was going to change? That was the one constant that i laughed out loud about all during the run up to election night in '08.
As i told everyone i knew back then, it doesn't matter which party you're speaking of, when it comes to washington dc, politicians & election promises nothing ever changes, except for the name of the individual put in charge who fully intends to do a #3 in your mouth, or rear end, as the case may be.
The whole process is laughable and nothing but a continuation of their version of businesss as usual.
Magnificent Lizzy!
as to: Regardless of the fact that 18ms after LEH failed nothing has changed. No new financial regulation, no way to deal with aig, fnm, fre, no accountability and no responsibility.
I would add to that it is even worse if for no other reason FASB 157 modifications as well as the FDIC's capital pass on FASB 166/167. I know that you are aware of these matters, I just wanted to add this as it is my own personal obsession.
By the way, Stephen Colbert is going to take Canada down!!!!
what, by being assistant sports psychologist coach for usa speed skating team, and trip or spit at all the canadians skaters, might work. canadians will give us a huge run for winning gold in most of the snow and ice events.
You have a way with words. Extend and pretend is my new favorite term ;)
either next week or next month
Prozac Chemtrails from coast to coast
My roomate's mom is a dentist. I was ranting so she brought home a flyer on flouride. At the top it said, "Flouride, Its safe!" I thought, 'When I want to do something, the LAST thing I should be considering is if it is safe.' I feel like everywhere I go, I am at a used car lot :(
My days of jumping off of bridges is sort of over btw.
CNBC Fast Money traders say not to worry. just a usual short term correction all fundamentals remain intact and positive!
Nothing gets the peanut gallery going like a headline number on the Dow.
Watch the Boomer pucker factor go sky high as the retirement melts away....not that it was really there to begin with. Illinois is insolvent and has to kick out $64 billion in retirement money this year....they are looking for any outs...
Strange that while the world collapses folks run to the dollar as if there is some sort of safe haven there and gold goes down. Makes no sense.
It does when you look at who controls the price of 'gold' on the Comex exchanges... ;-)
Good analogy I saw today on quantitative easing -
The Bank of England has called a halt, for now at least, to quantitative easing (QE). So it feels like a good moment to revisit an entertaining letter sent by Eric Keetch to the Financial Times last August:
No new money has been introduced into the local economy, but everyone’s debts have been settled. Is this “quantitative easing”?
As subsequent letter writers pointed out, the conclusion that everyone’s debts have been settled with no new money introduced may appear correct at first glance, but the hotel is still €100 out of pocket because it has had to pass on the proceeds from the “good time girl” to the Russian guest. Nevertheless, an unquantifiable amount of anxiety may have been eased.
http://blogs.telegraph.co.uk/news/richardpreston/100025039/if-its-farewe...
Hey Yophat
That'd work just fine if it weren't for 'the magic of compound interest'!
Unfortunately in that story, the hotelier took on the debt last Tuesday, the butcher partied 2 weeks ago, and the fallen lady last used the hotel last month.
By my count, hotelier needs to throw in a couple of plush curtains, and the butcher brought along 3 cows to his lady, who after that 'balloon payment' is still 200% underwater and will be working for that hotel manager for free, for years to come!
your smart, i am going to follow you around!
Stick around...most of the commentors on here make me feel like a dog staring at a chalkboard full of mathematical physics equations. ;-) But we will both keep learning and learning from this site!
“hu hu hu hu hu ha”
I follow her too. Does that make us cyberstalkers?
But...but...you're one of the commentors I was referring to, in the dog-and-mathematics analogy...!!!
hahaha
I guess this is when it quits being a question of who stalking who and turns into just 'keeping company'.
ms, we both used empty tampon canisters as pipes†
Nice get up you got there Velolicious! TP rolls work the same way. I bike too, for what it is worth. I ride a Serotta Atlanta, steel frame with a carbon fork and Shimano components. She is a little old for the throw away culture, 2002, but she is good.
your great. yeah biking saved my soul. been addicted since 1978. been on four usa national mountain bike teams. cat 2 road racer for 20 yrs. just like everything else in life now, it is all going down hill fast. do you mind me asking what part of the country you res/ride?
I am in a flatter part of TN. We have some rollers, but no serious ups.
I have been out of it a couple of seasons now (I am still running and lifting weights, will use Trek hybrid to get around some), but I ride centuries, the MS 150, club rides, stuff like that. I fear I am not so athletic as you (competing would break my heart, I have that spirit but not the coordination), though I do get psychotic about tracking personal bests and I am a little too engaged with my electronic tracking devices. My hubby and I also have a recumbent tandem which is pretty cool.
My hubby has gotten into cross fit. Worth googling. What may look like going down hill, may just be training that is not being applied well. You may know this better than me. It seems intensity in short bursts, frequently, may be the fountain of youth. I am starting my own version of it and getting good strength gains. My hubby has biked for years (he is pretty dominant for his age group, only the 20 somethings and a few of the 30 somethings were as fast) and still had a pot belly. It is now melting away and a to die for sculpted hunk is emerging since cross fit. I'm grinning ear to ear, but know I better keep pace.
Look forward to seeing you around here. Renfield is an Aussie chick who posts from time to time who I enjoy very much. I imagine her to be such "trouble!"
fun, i am originally from ohio am familiar with terrain. moved to aspen colorado in 1969. so downhill was just part of life, now i am just old. that sounds so nice that you and your husband enjoy working out together, i can only imagine mscreant on a recumbent getting out on ZH. i just read one of your posts. you are a teacher? college or HS? i taught ceramics at aspen high for years. loved it. you must teach economics? i did the ironman in 1983, i looked more forward to the fourth event. my daughter was on the us ski team and did 4 x games. sports are my life, i am really addicted to playing golf, it is my zen. monumental news that louisville kentucky is hosting 2013 Elite Cyclo-cross World Championships. this is huge to get such an european sport into america, i am going. well there is the Who tomorrow @ half time to look forward to. everything sucks, but your in education and can enlighten those who can make a change.