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Frontrunning: November 9
- Rosenberg: unemployment to hit 13% (Bloomberg)
- Wall Street record bonuses return as Big 3 may pay $30 billion (Bloomberg)
- Tackling the US economic data manipulation: Economists seek to fix a defect in data that overstates that nation's vigot (NYTimes)
- Kraft makes new, lowered bid for Cadbury (AP)
- Citigroup asset guarantees may cost US taxpayers, panel says (Bloomberg)
- Geithner saying "be like Buffett" can't make JPMorgan lend more (Bloomberg)
- Slavoj Zizek: 20 Years of collapse (NYT)
- Gordon Brown: How we can restore trust in financial institutions (FT)
- Fixing Too Big To Fail (The Nation)
- A weak dollar does not create jobs (Fox Business)
- Japan tops China buying treasuries after lost decade (Bloomberg)
- Next up: The Sorkin-LC-Whitney Port love triangle and the McSorkin $0.99 cheeseburger; profiling the NY Times journalist (NY Mag)
- The latest US cheerleader: Berkshire says credit crisis "abated" as profit jumps (Bloomberg)
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Looks like timmy is still long his house.
Port and LC way to dlist for ars.
Looking for S&P's to break and hold 1100's this week?
yes.
Guys like Buffett are eventually wrong. This is going to be the time.
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don't be an a$$hole, be a FASHOLE!
I can feel the excitement!
sponsored by the vampire squid we all love to have suck our blood.
Listen....People have got to stop calling the decline in the markets. If there are games to be played, THEY WILL BE PLAYED. The marekt can not go down until they run out of moves. Will they? Can they? That is still the question. I make Economic calls all the time here at work and everytime I say something, they follow up with....but the market is going higer, you can't be right. To that I say.....the market is not the economy....and 3 months later I follow it up with I TOLD YOU SO.
"....the market is not the economy...."
Soon this underappreciated point will make itself very painfully obvious...
What does 13% U3 equal when converting to U6? Roughly 23%?
i.e. GDII
holy C-theory batman...ZIZEK! on ZH...wicked
"How did we come to this? Deceived by 20th-century Communism and disillusioned with 21st-century capitalism, we can only hope for new Kravchenkos — and that they come to happier ends. On the search for justice, they will have to start from scratch. They will have to invent their own ideologies. They will be denounced as dangerous utopians, but they alone will have awakened from the utopian dream that holds the rest of us under its sway."
y'all should get some of those party hats & put the logo on.
i'd be willing to give up some euros for one of those.
Well, not like the unemployment rate is going to go down anytime soon, great way to call the market...
...although I do like the analogy to Japan's "lost decade". I keep hearing the analogy applied to 2000-2010, but the goal posts need to be moved forward a touch to the next decade. I think the 4 Tigers, notably South Korea, post-IMF is a better proxy for where we're headed. Get ready for a lot of educated and skilled "unhirables" older than 45 and vast armies of unskilled fodder hitting the gov't payrolls.
11% unemployment will take the TBTF's down by the numbers. Citi is as we speak trying decouple from cc's and consumer related debt. 13% unemployment should raise the default rates high enough to make all collateral on the Fed balance sheet worthless. Think about it, where is 95% of the CDS exposure, the TBTF's! Uncle Ben is now "THE MARKET" as far as real estate goes he has all of the MBS from the Fannie and Freddie meltdown. All the student loans and various other packaged,bundled securities in theory supported by the usury placed on JS6's unemployed ass!!
Zimbabwie Ben has spent his whole life studying the Great Depression and is finally haveing the last lingering doubts removed, as to why it really happened.(Keynes and the money machine!) And in the not to distant future all he will have to do is look in the mirror to find the cause of the 2nd Great Depression.
Curby;
This market runup is all about the Fed and the TBTF's finding a bag holder. The last crash JS6 had 40% less in his 401k! When 90% of the 401k's and all the money market funds are in the market. The Fed and the TBTF's are gonna jump and leave JS6 with a big bag of nothing. How else do you explain removing FDIC insurance from money markets, except to pull it in to the stock market.
Kraft needs to partake their bidding action onto a different fat chick. that, or down a few jaeger shots before Cadbury says to bugger off, yanks