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Land of the Super SUV's and SUV Limos
Out here in Los Angeles, the current fad amongst the Hollywood wannabes is to find the biggest truck possible to cruise down Ventura Blvd. Its not enough anymore to own a European luxury car, something bigger is necessary to "make a statement". However, the "Infinite Fiat: Wash, Rinse, Repeat" policies of the Fed may bring this trend to an end.
Here's an example of a rig I saw at Surfrider Beach in Malibu the other day. I talked to the guy, he said he needed it because he was trailering his "horses"...LOL..
And recently, while on Ventura Blvd. in Studio City, I saw a couple of rapper dudes cruising around in something like this:
With the Fed buying anything and everything from the failed gamblers (aka large U.S. banks), the fiatsco-flinging is bound to start impacting gasoline prices.
Check this out. If this thing starts busting a move, watch out:
And the lowly refiners, which various Chop Houses downgraded earlier this week...
Well, we'll see how the sales of these SUV's hold up by next summer's driving season. Better buy a motorcycle instead. After all, isn't the Fed also the first and last lender of Harley Hog Receivables these days??
...................
While we wait for Google earnings...
Here's the post of the day from Rasputin:
Worried about the recent jack up in long yields? No worries, the Fed will likely belly up to the table and buy more and more.
"Quantative Sleazing 2.0" and "Homedebtor Assistance 2.0" on deck.
Rasputin - Thu, Oct 15, 2009 - 10:48 AM
Soon we will see the Fed bumping up their purchases of Uncle Sugar's
Treasuries, and we will also witness Uncle increase and extend the
"8000-fiatscos-for-home-debtors" program, because at this juncture TPTB
just aren't getting their way with the McMansion market.
As reported here by Calculated Risk:
http://www.calculatedriskblog.com/2009/10/realtytrac-foreclosure-activity.html
...foreclosures are still rising, despite the efforts (so far), by the Fed and Uncle.
And, as Barney Frank has made clear over and over, re-skying the
McMortgage/McMansion markets is priority number one for Congress
Therefore, it won't be long before the afore-mentioned programs
now in place by the Fed and Uncle will be cranked up to even more
insane levels, as impossible as that seems.
In addition, Uncle could go as far as to buy up the entire inventory of rotting Mcboxes, if he believes that is necessary.
It would only cost Uncle approximately:
1.4 trillion fiatscos
...to purchase every singe one of the foreclosed McStuccos now
sitting on the books of the failed banks, at 200k fiatscos per
crackerbox.
Which is FAR LESS than the Fed and Uncle have already committed to
re-skying stock markets, prop up failed Wall Street businesses, and
keep collapsed U.S. auto makers cranking out McAutos.
(Ras Conclusion): "Quantative Sleazing 2.0" and Homedebtor
Assistance 2.0" are done deals. So too is Uncle stepping in and
becoming the "buyer of last resort" for rotting roachtraps.
And the Fed will happily snap up every one of the Treasuries that
Uncle will issue to fund his foray into being the world's biggest
landlord.
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"And the Fed will happily snap up every one of the Treasuries that Uncle will issue to fund his foray into being the world's biggest landlord."
BINGO!!!!!
nice to see that someone else sees the endgame.
it's easy to be reckless with silly pieces of paper when even in the worst case scenario, you'll be holding much of the land, where the true wealth exists.
Gaso Big 4 15% long and 12% short.
Good point about motorcycles versus Humongous facades.
Most people outside the USA with $9 fuel ride them.
Once survived an extended hours Liars Poker game at Harrington's that got into the quadrillions.
For $100,000 will tell all how it ended, who won and
who lost, not what most think, LOL...
http://www.jubileeprosperity.com/.
I gotta have one, maybe two. I'll just sell a tranche of my... oh, never mind.
More quantitative easing is a given at this point. Why not, there have been absolutely no repercussions besides a tanking dollar, which is what Zimbabwe Ben wanted to happen anyway.
With all due respect to you and a your excellent posts Robo, Los Angeles is a teeming craphole. Do yourself a favor and get out of there.
Heh....
Sorry Chet, but L.A. is the bomb for me.
It has everything I want.
Stunning girls, awesome weather.
More than enough arts and entertainment here. Hell, we just signed Dudamel for the L.A. Phil for a multi-year contract.
We have the Lakers, Dodgers, and Angels.
All the extreme sports I do are here: Motocrossing, windsurfing, skiing, etc.
I live 10 min. from LAX, I can get on a plane and be in Maui in 5 hours.
Additionally, the markets close here at 1:00pm, so in the summer, I have all afternoon to get in the water or go to the MX track, and not have to be glued bug-eyed to the screen the rest of the day.
Its the best life for me, bar none.
Would not live anywhere else, sorry...
You make a sound argument.... But they'd have to drag me back there in a cage. Variety is the spice of life...
Dodgers and Angels are goin' down hard!
L.A. for proximity to Alessandra Ambrosio?
Be grateful for your health and ability to do all you do Robo. You are dearly appreciated and adored here. I did the LA trade for 3 years in days of yore...almost killed me as I am a nightowl. Keep up the great work.
howard...nice to see you back. looking forward to more commentary from you.
I have never been there but it sounds like heaven to me. I live in upstate NY so maybe I will get on a plane and go check LA out. The weather here is going downhill faster than some banks.
I am Northern Cal, Oaktown to the bone so there it is. Much Respekt tho.. You know what the heck you actually want! And then you make it happen. WhoT!
Agree. I was a new england kid, but our west coast office is in El Segundo and here i stay.
I agree with Lizzy. Andy is a smart fellow.
...and no football team, but we had the world highest paid soccer player for a while.
LA is a sh!th0l3. Sorry, I like em real.
If you're cruzin' down Ventura Blvd, you don't live in LA, you live in THE VALLEY. So it's no wonder you're seeing a lot of trailer trash vehicles.
Then again, my money is on the fact that you live in your mom's basement, downloading softcore porn all day to spice up your posts here.
Sweet Sampson's sister that Marisa Miller is fine.
For all of us married saps who's only access to porn-ish material is their wife's Victoria's Secret catalog (you know who you are), she is an unhealthy obsession.
She is the all-american total package.
we.are.phucked.
This is what they want, but they can't get it with AC yet.
http://en.wikipedia.org/wiki/Mowag_Piranha
Are you insane? I live in LA, I've never seen SUV's this big before. If anything, there are fewer SUV's here than there were two years ago because the cost of Gas shot up so much.
The nutjob crap you people run here is bad enough, now you're making shit up?
You can see something like the top one driven around hermosa. no idea where the kids park it.
LA is large & diverse try Ventura Blvd or OC; I ve seen plenty of those out there. And while those are out of the fashion, the new "it" is 5,000 - 7,000 lb HYBRID SUV's. Still takes shit load of gas, but the HYBRID sign makes it.... right!
Spot on
The 3 month chart of SUN looks interesting. Big breakout today. The stock has been making higher hi's and higher lo's.
Boris Badanov: it is strong like bull.
http://static.squidoo.com/resize/squidoo_images/-1/draft_lens2210888module11895604photo_1223243954boris-and-natasha-badanov.jpg
That SUV just screams IED.
Wankers! My bro just bought a fire engine to tow his boat.
Robo does not lie. I've seen these vehicles, plus others like them, as I drive through Beverly Hills and the San Fernando Valley. They are definately specialty vehicles and are the exception, not the rule. A couple of weeks ago I saw an SUV like the black truck pictured above, in Beverly Hills. The roof extended about half-way back on the truck bed. The last half was made up like a balcony, with tables, and kids in formal wear sitting at them (maybe five or six). Remember, this is LA - and specialty vehicles get rented for many reasons - to haul equipment and actors to shooting sites, to haul tourists around who want to spend money on non-standard transporation (makes for good pictures to show the folks back in Minnesota), to haul the young and restless to proms, etc.
I've lived in all four corners of the U.S. and other places in-between. Every place had its good and bad. So does LA. If you live here for a while, and have the money to get around, it is not hard to find where the good is and focus on that.
Reading this, I'm reminded of the Duke's bad ride in "Escape from New York". Now, in all seriousness, is the existence of this kind of excess what stokes the Hollywood liberal's global warming mantra?
With Jerry Bruckheimer doing a special...
Must always be on the lookout in socal, some areas you can quickly find yourself surrounded by hummers. Though recently on Ventura blvd I saw some (tree huggers no doubt) driving those little golfcart with windows rat traps.
Robo-
You and Rush should buy a football team for L.A.
I grew up in L.A. and still live bi-coastal. Bunch of crap, the Hollywood wannabe SUV story. Nobody who's for real in Hollywood drives Ventura Blvd. Only construction workers who pour concrete or lay roof-tile ride HOGs, and Hummers are exclusively Florida. L.A. is still better than Manhattan (considering less douchebags per square mile). Especially if you're comparing the Four Seasons at lunch. I'd be happy to meet you at Dan Tana's, Robo - have the Dabney Coleman.
However, +1 on the Fed comments and the refiners. Couldn't agree more.
'Night. I gotta wake up at 4:30. Good luck with the cougars at Tavern.
That fiatsco is probably on a short-term up leg now. Started before opening Thursday. 75.65 now. Yen recovering ~ again. Unfortunately, (or cautiously, prudently?!) gold pays the price in this temporary levitation from the dead. Dollar up to 1048 pieces of paper per ounce of the yellow metal.
One guy prognosticated that we'd see a 50 yen dollar within two years, so I went out and got 5.6m of the things with my Taiwan dollars. Wish me luck...I think it's a cinch 1%+ within two weeks.