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Market Celebrates Just Announced Record Foodstamp Usage By Closing At 2010 Highs
For those seeking a perfect explanation of what is happening in United Banana States of America right now, then look no further: the just released September Supplemental Nutrition Assistance program data is out and we are happy to report that the number of poor Americans has never been higher - SNAP recipients just hit a fresh all time high of 42.9 million. Naturally, the market celebrates the record number of poor Americans by closing at 2010 highs. No long-winded, somnolent essays, no rants, just observations. These two facts explain everything that is happening in this unrecognizable banana republic. Now that is a five year banana plan you can believe in.
h/t John Lohman
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Actually, you are wrong --- Robotasswipe does not add "a different opinion" at all, from all that I can see. He merely posts one or two-liner flyby comments that are invariably equities bullish, complete with a very short term chart and the obligatory soft porn photo, and then flees the scene to collect his usual 20+ junks as he deserves. When I see him FOR THE FIRST TIME stay and argue a point, then I may reconsider my statement above, but until that happens, he will remain simply an annoying troll.
If I may humbly disagree, he said he would go short when the market actually turns. I disagree with Robot 100% of the time so far, but I am glad he posts here. Not because of the soft porn, either. :)
Don't knock it. I appreciate the soft porn. What would life be without a beautiful specimen of bouncing mamaries to take the edge of?
I am not Knocking it. I think if you look closely you will see that it has its own Knockers.
I would agree with you and i don't understand all that fuss about his postings. I don't think he really follows his charts and I wouldn't be so brave to do it either. He teases all posters in his funny way. What soft porn? Few bouncing tits? I've read many hard core comments here and nobody protested. You all guys want to have the same opinion, otherwise you get pissed off? I like Harry also, his comments are of the same type as Robo's, just enraging everybody but he uses different method called "simpleton kick". Robo is just different, pictorial type.
What are you trading akak?.......stocks, currencies, futures, options?.......serious question, because I just don't get the point.
I think you and the other Robot junkers are missing it.......not just the trade calls, but the Robot social insights too......which are better than the girly pix, although the girly pix are nice
If you look back through the threads you can see Robot closed shorts Aug 31 and went long........pretty fucking consistently consistent on the right side of price.
Nic Lenoir made the same call the same day........closed shorts on seeing a 300,000 EMini SP futures buy at the close......turned the market up at 9950 Dow.........check it.
Classic :-))
BAGS-O'-SILICON!
Uhm....RT....what exactly is she laughing at?
I hear the prices for corn-fed, middle American women has dropped in the sex markets of Saudi Arabia. Something about too much supply, and too much competition with Eastern European girls.
Maybe we can open up the country to sex tours from Asia.
sir, the website for sexually insecure and emotionaly immature men can be found with a normal browser
Hang on...you mistakenly dropped in the post here that you had worked up for the Economist.....
Damn...and I found this site with a normal browser....what does that say about exclusivity?
Well...I would certainly like to get my wife in on that gig..we could use the extra coin.
Wait...she is from South Asia...guess they would not be interested.
The thing is I think the financial crisis and/or depression has highlighted the "bananaesque" nature of the US but it has been going on for a number of years. I moved to the US around the time Gore, Bush and the Supreme Court were battling for the presidency. Before that my forays into the US were always to fun tourist destinations such as NYC, LA (actually that wasn't much fun) and the Maine coast (very nice). But moving to upstate NY, I saw huge poverty and racial segregation. Many of my pre-existing ideas about the US were blown out of the water.
Fast forward to early 2008. I was living in Manhattan and went up to the Bronx to check out an Italian neighbourhood that had some apparently authentic butchers and grocers. And the neighbourhood itself - maybe a ten x ten radius was great. Well except for the very Slavic looking operators hanging out at an outdoor cafe - they made the Sopranos look tame.
But travelling through the Bronx, I couldn't help but notice how much it reminded me of some Latin American countries I had travelled in when younger (and no it wasn't just a languge thing).
I'm sure this post will get junked because I brought up race. But it is one of the gorillas in thee room (but not the only one)
Crap I can take you places in Detroit/St louis/chitown/kc where even the cops won't go anymore.
I was in New Orleans (BK - before Katrina) and went up to the Garden District. I decided to walk back via Magazine Street. I had heard about some interesting local businesses opening up and it was day time. I knew it would be a long walk but the best way to learn about a city is to walk around and visit local businesses and it was daylight.
Not sure why but when I emerged into the downtown district I was accosted by a policewomen who asked if I was OK and suggested that I shouldn't have been walking in that district.
Whatever
And before I get more junks - I am all for levelling the playing field. Hmmm.... that may get me more junks.
But I'm just offering my observations.
don't hate on the albanians on arthur ave., they just extort each other. upstate NY can be rough, some parts of syracuse and all of troy are brutal.
I easily get far more junks than you do.
And, as there is almost no good reason for anyone who doesn't love their job to work anymore, expect those curves to continue... until the collapse.
I have to say once again ZH (most) followers have learned nothing from this site, based on the comments above. You morons, the hate bastards, the gun a-holes, you no nothings, you WS wanna be punks, with your bling will be the first to go, when the shit reallly hits, and soon. It's too bad, and you're part of the problem.
And just what is it that we are supposed to have learned from this site that you feel has been lost on most here? I am not challenging you, just curious for an explanation.
Hey cnbc
As much as many of us zerohedge readers would love to engage in a battle of wits with you, we would never attack an unarmed opponent.
oh, sir, please do enlighten the rest of us dumb-fucks: extol to us what you have "learned from this site".... shouldn't take too long, seeing as how apparently you already know everything there is to know, hence u couldn't have gleaned too much more. Nonetheless, may I have some crumbs, please?
Look...ok, I am a gun a-hole, and I know I have no nothings...my bling is a little light...wait, can you explain the rest of that to me? I am...ho ho ho...kind of a moron:)
They are going to have to "price in" gunshot wounds to the head.
on Fri, 12/03/2010 - 19:49
#777208
Hilarious : http://www.youtube.com/watch?v=Gl47z2g2EvI
Soon to go Viral !!
That was good. Very creative use of sounds...
LOL...
I actually liked the JP Morgue. We now have the ben bernank and the JP Morgue. Fabulous!!
Excellent.
I better cover.
Ben Bernanke
Benah Banahke
I found this on a yahoo message board as I was doing research:
I began working as a cashier at Walmart, and have noticed more and more people using food stamps (EBT cards) and it started to get me thinking a lot about what this world is coming to. I understand that with the downfall of our economy, there is need for food stamps, but I think that government should really rethink what they are allowing people to purchase on food stamps. I have people come in on a daily basis that purchase cases upon cases of soda, bags of chips, and candy bars, and pay for all of it on food stamps. I think food stamps should be like WIC, and provide families with the necessitys of life, such as fruits, veggies, milk, cheese, proteins, etc. But no, these people abuse this privellege on a day to day basis, and it's my tax dollars that pay for them to be lazy and not work and just take money from us hard working citizens. Also, I see people on food stamps that have a wallet full of $100 bills, and I constantly wonder why they aren't using their own money to provide for their families rather than using peoples' tax dollars. It just downright pisses me off. Does anyone think that food stamps should have a time limit, and that people can only be on them for so long until they get back on their feet?? http://answers.yahoo.com/question/index?qid=20091115214734AAB5WH7The cases of candy bars are being purchased by people who WORK. People buy the case of candy bars and sell them for a dollar apiece to earn a few bucks.
The problem is unemployment and a fundamental shift away from productive work vs. services. The guy selling candy bars on a streetcorner is just as "productive" as the average commodity/forex/stock trader.
You can't have a healthy society if you can't keep people busy doing useful work. Obviously, in the USA, we can't keep people busy doing useful work.
We're fucked, but not for the reason the commenter thinks.
...and to the banana republic, for which it stands...
... one nation, under JPMorgan ....
Well when do people wake up and its hits them in the face.
9.8% unemployment rate, 42.9 million on foodstamps, housing market still going down hill.......I say NEVER! the market will sing along forever as long as there is money to print. Like they use to say on Saturday night Live " We will PUMP YOU UP" ...same ol same ol everyday at the market. Bad news means nothing anymore to the insane. We live in a world with no gravity.
"You can avoid reality, but you cannot avoid the consequences of avoiding reality."
-Ayn Rand
We live in a world with no gravity.
We live in a world which is a zero gravity simulator, which is a 747 flying directly at the ground. There, fixed it for you.
Cocksucker looking for some positive PR. I say fuck you fucker Warren.
http://finance.yahoo.com/career-work/article/111491/like-a-marriage-only...
You know we are going to wake up one morning and see this whole financial mess come to a screeching halt.
Off Topic
TD et al,
Who is "fl3tch3r" ?
Over the last few months, there are times when I refresh a page and I go from being logged in as chindit13 to being logged in as fl3tch3r.
Just some possibilities that come to mind:
- There are some really old Japs running things here
- Stuxnet (I tend to blame most things on this)
- ZH trying to double-up on posts to boast more users
- Somebody hates your Pith helmet
- You have been marching too long
- Stillwell's ghost
The war's over? Nobody told me.
Who won?
the banks
ZH is supposed to be about being a "tough guy" and talking a bunch of trash you wouldn't never utter in public.
You all love to hate Erin Burnett, "Quickie"and other talking heads. Yet behind the keyboard there is nothing but tissues, lotion and a tin foil hat. (BTW, who was right? "double-dip"???). Nothing is coming
I eat pussies like you for breakfast that go out of their way to prove a point...
http://www.youtube.com/watch?v=ULgU7_lYA38
ok........well, why dontcha just EAT ME (for breakfast), or just BLOW ME - your choice
Everything in Hawaii is extremely expensive. Gasoline is $3.40/gallon, milk is $7/gallon, and a loaf of bread is $5. My 12-pack of toilet paper just went from $5 to $8! At the height of the housing bubble, median house prices were $500-600K (regular houses; not McMansions), and they haven't gone down much. Oh, and we pay the highest rates for electricity....I think it's 37 cents/kilowatt.
I don't use food stamps, but a lot of Hawaiian families couldn't afford groceries without them.
wth u expect livin on an island in the middle of the pacific??
Here is a message from the free world
to the fascist regime of the USA :
shove it up your Arse !
Und wo genau ist diese Freie Welt ?
So we export jobs and import cheap labor. Who'd have thunk that'd have resulted in unemployment????
Soylent Green comming to a Wall Mart near you soon
Maybe someone can explain to me why the same Little Debbie's box of Fudge round I used to buy for .99 cents as a kid is now $1.79 and the rounds are half the size.
No worries - the Rabbi Michael Lerner has the solutions to every last one of our problems, as detailed in this morning's WaPo: http://www.washingtonpost.com/wp-dyn/content/article/2010/12/03/AR201012...
My grandfather ran a CCC camp during the last depression. The worker only got a small part of their pay and the rest was sent to their family. We will be lucky to have such a program again.
Republicans blocked unemployment again, they do so at their own peril. Pretty sure that those people will not buy the Tea bagger rants any more and they landslide against them will wipe them out.
"number of poor Americans has never been higher"
"number of poor Residents has never been higher"
The USA is not a banana republic but just a evil state run by oligarchs for the oligarchs ,period.
The Banana republic don't do harm, invade and threath other nations.
You guys better prepare to leave this country soon. As someone said in this thread, there is no collective strategy then you gotta find one for you and your family.
EMIGRATE NOW BEFORE IS TOO LATE.
Who gives a f$$$ about the poor? They don't consume anything. RALLY!!!
@unununium
If your are crazy enough to sacrifice yourself for a bunch of black friday consumerist junkies, just go ahead.
I wonder how long it will take to break the 50 million mark? I wonder how high it must go before the outrage dam breaks?
I wonder if we will ever dip below 30 million again?
I have been a BEAR on CASH since 2008 when the world global bankstas ambushed my children's futures. I own only gold, silver and rare earth shares and physical silver since 2003. The doom-and-gloomers are not wrong about the outlook for 2011-2013. It is just that shorting stocks in a Zimbabwe-styled reflation is a bad bad strategy. Shorting stocks is like going long CASH and that is a flawed strategy. How many trashed FRN's I.e. Dollars, euros, fiat garbage will it take to buy food? Cash is trash...
Is there a traditional ratio/correlation between food stamps and unemployment? I'd think the all time high food stamp numbers today would shed light on the underreported unemployment numbers. What does the food stamp number imply now as far as unemployment rate?
CME introduces food stamps index linked futures with quaraterly expiry. Sounds like every underwater pension fund should accumulate ;p
The FDIC is back-stopping like 85% of the losses on the roll-ups.
USB is gonna be a monsta
I wonder what the average annual cost is per Food Stamp recipient?
According to Wiki, in 2009 it was less than $1600. In comparison GS paid its employees at taxpayers expense on average a bonus of $500,000. This year alone for the first 6 months, GS will pay about $273,000. Or to put it another way, at a cost of mere 34,000 GS leeches, 10 million Americans could receive food stamps.
So Helen Thomas says you can't criticize Israel or zionists without getting your ass in a sling, and what happens?
Her ass promptly gets in a sling! LOL.
Apparently her suggestion that jews control Hollywood and finance was the anti-semitic capper.
Nevermind that all 5 major HW studios were founded and still are run by jews. Or that all but a couple of members of the fed board are jews.
If you merely IDENTIFY the people in control as jewish, your head will roll.
great info