Open Thread
What should Zero Hedge focus on next year?
(9 votes)
»
- Login or register to post comments
- Printer-friendly version
- Send to friend
-
Econophile03/21/2010 - 12:33
-
Leo Kolivakis03/21/2010 - 09:53
-
asiablues03/20/2010 - 19:47
Search
The Zero Hedge Debate Society
Latest News From The Fly On The Wall
03-21 14:28:
Nortel Networks announces management changes
03-21 14:24:
The Medicines Co. provides update on PTO litigation
03-21 14:15:
DayStar reports Q4 EPS (14c) vs. consensus of (17c)
03-21 12:44:
Consumer sentiment released on March 26 at 9:55am
Latest News From RAN Squawk
Poll
The Zero Hedge Team
Tyler Durden - Founder
Marla Singer - Foil
Travis - Author
Cornelius - Author
Sacrilege - Senior Researcher
tips [ at ] zerohedge [ dot ] com - Our Reader Tips Mailbox
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
ads [ at ] zerohedge [ dot ] com - Advertising Inquiries.
abuse [ at ] zerohedge [ dot ] com - Abuse / Infringement Issues
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure.
Zero Hedge Offices:
United States:
888.qui.zero (888.784.9376)
Zurich:
+41 43 501 6717
London:
+44 20 3318 4753
copyright ©2009 zero hedge - limited reproduction (with attribution) permitted by request
zero hedge's redundancy powered by:
on Fri, 12/25/2009 - 13:21
#174243
from the Washington Post
U.S. promises unlimited financial assistance to Fannie Mae, Freddie Mac
Friday, December 25, 2009
The Obama administration pledged Thursday to provide unlimited financial assistance to mortgage giants Fannie Mae and Freddie Mac, an eleventh-hour move that allows the government to exceed the current $400 billion cap on emergency aid without seeking permission from a bailout-weary Congress.
The Christmas Eve announcement by the Treasury Department means that it can continue to run the companies, which were seized last year, as arms of the government for the rest of President Obama's current term.
But even as the administration was making this open-ended financial commitment, Fannie Mae and Freddie Mac disclosed that they had received approval from their federal regulator to pay $42 million in Wall Street-style compensation packages to 12 top executives for 2009.
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/24/AR200912...
on Fri, 12/25/2009 - 14:39
#174335
Didn't predict this, did you Hedgies? Ban on housing evictions to follow shortly. I warned you about this--I warned you that we were changing Constitutional regimes, but you preferred to snuggle up to your petit bourgeois prejudices. Now you're bruised. Poor babies!!
I can tell you at length and probably ad nauseum, where this is going. But I'm not sure you're going to believe me, or want to, but this is the way it is:
We are moving rapidly out of the scrutiny regime (West Coast Hotel v. Parrish), and into the maintenance regime, which I described in my study of the anti-eminent domain movement, The Eminent Domain Revolt (New York: Algora 2006).
The doctrine of the scrutiny regime is that the Constitution is a rational relation to a legitimate government purpose. This extremely porous doctrine has meant:
1. the political system has absolute power over the facts; and
2. individuals have no individually enforceable rights over the facts.
Wanna see where the scrutiny regime has been with regard to housing? Just read Lindsey v. Normet. Housing, under the scrutiny regime, enjoys only minimum scrutiny. Which means there is no individually enforceable right to housing.
Now, I know what your petit bourgeois mind is thinking: "Darned right. Moral hazard. Can't pay for it? Can't stay." You know, the Nancy Reagan response.
Well, nobody cares about that anymore. It's just over.
What the Treasury has announced is that we are moving rapidly toward MY regime, the maintenance regime. The doctrine of the maintenance regime is that the Constitution is the maintenance of important facts.
Huh? What's an "important" fact? The Court, in West Virginia v. Barnette, tells us that an important fact is
1. a fact of human experience
2. which history demonstrates
3. is unaffected by attempts to affect it.
When your fact passes that test, it is REMOVED FROM THE POLITICAL SYSTEM, and power over it is GIVEN TO THE INDIVIDUAL. Ouch! Bad luck for housing bonds and housing debt.
Guess what? It has been concluded that housing is an important fact. (P.S.--also liberty, maintenance, education and medical care.)
Meaning? Well, in scrutiny regime terms, it means that housing now enjoys strict scrutiny (policy affecting housing must be "narrowly tailored to achieve a compelling government purpose"). This means housing as an investment vehicle is over, finished, kaput. Evictions are forbidden under any circumstance. Ouch for your housing portfolio!!!
In maintenance regime terms, it means that
no individual shall be involuntarily deprived of housing.
Plug in those other four facts, and you have the new bill of rights.
Treasury is simply saying the power structure has capitulated, overthrown the srutiny regime, and established the maintenance regime.
THIS is the coup d'etat, it's WAY over the heads of you who are reading this, because you're petit bourgeois and don't know the law.
But I do, and that's what matters. Democracy has lost this once, but hey, democracy put Hitler in power. Democracy is on the leash, just like every other fact.
on Fri, 12/25/2009 - 22:25
#174669
well, I am certainly not a small burger but it's true I don't understand the law. It is indeed way over my head. Is this one of those things where you smart folks argue over what the meaning of word is, is?
on Fri, 12/25/2009 - 23:03
#174692
Hey nony, if you can't explain a scrutiny regime in a way that even my grandmother can understand it, you probably don't know what you're talking about.
on Fri, 12/25/2009 - 23:04
#174693
"it's WAY over the heads of you who are reading this, because you're petit bourgeois and don't know the law."
Fuuuuuuck you!
If you are the real Ryskamp, you are an insufferable ass who needs to be taken out behind the woodshed, where real citizens would stomp your ass a mudhole and walk it dry for ya. You probably are not though. You probably have something against Ryskamp and you are posting here, trying to harm his image for some reason.
Go away troll idiot.
on Sat, 12/26/2009 - 10:31
#174867
So busted, nice !
on Sat, 12/26/2009 - 13:00
#174935
Hey Anon
You spew the same droll logic as Mein Kampf . Perhaps you will become our megalomaniacal leader ? Not. Better to limit your dissertation to 2 syllable words so we can understand your point.
Oh. Why not move to China. I hear there are underpaid and overworked factory workers ripe for a Communist Revolution. Oh, sorry, done before. No one left working here....
p.s. the law is what those in power say it is.
on Sat, 12/26/2009 - 04:28
#174793
Interesting thesis in your comment.
I only wish you'd written it with slightly less brandy egg nog.
.
A review of your book was titled "Sloppy".
on Sat, 12/26/2009 - 06:26
#174811
Indeed.
His book review was less than flattering.
Typical half-baked pseudo-intellectual comic relief. +2 though for some of the most extraordinarily creative sophistry ever produced by a Kollege graduate (sorry, can't type my "e's" backwards for this pseudo-academia wannabe sycophant).
My only question here is how much hashish does a guy have to smoke to get into the mindset of writing at that level of convoluted horseshit?
Writing is not your vocation my friend. Stick to your Wal-Mart greeter job. It's your calling.
You lost me at "New Bill of Rights". Sayin' it doesn't make it so. And apparently your reader (singular) doesn't think so either.
on Sat, 12/26/2009 - 08:48
#174834
Ha, ha, ha!
What a prick.
on Sat, 12/26/2009 - 11:57
#174907
Your comment raises a pressing question: Why are you such an asshole?
on Sat, 12/26/2009 - 18:13
#175102
The guy's puffed a wee too many bong hits as of late. He's really a Jeff Spicolli type hiding behind a keyboard.
on Sat, 12/26/2009 - 17:09
#175070
Arrogance breeds ignorance.
on Sat, 12/26/2009 - 18:08
#175099
thank u for saying that. i read a similar comment by our friend this morning and was thinking the same thing all day long.
monsieur ryskamp, i suggest you go see The Imaginarium of Dr. Parnassus. you remind me of heath ledger's character, tony aka barry. feel free to come back when you've seen it and we can discuss the ending.
on Sat, 12/26/2009 - 20:41
#175173
Anon,
While you may know the law,and are obviously learned, and while I agree w/you to a large degree, the Powers that be, have one major looming unresolved issue.
80 Million+ firearms owners..............
The Revolutonary War was fought with less than 10% of the populace.
The military is bound by an Oath, and it's not to a NEW Const or to the POTUS.
It's to the Original,to Defend and Protect the Constitution of the United States of America, from enemies both Foreign and Domestic.
(the POTUS Command comes 2nd in that Oath, as CIC), I have many close friends in all branches, up and down the chain.
I put it to a Ret Lt.Major, WHAT would happen if the current Admin, did something/s, outside the purview of their Oaths.
Would they intervene?, He said,likely NO.
(The history of separatism is far too great,unless it was sedition,etc).
But, he did say, in his opinion, if the PEOPLE rose up, the Military would in his OPINION, stand DOWN.
So, using the Rev War stats for convo sake, say just 10% of those under arms decided enough.
That's 8 Million men & women armed to the teeth.
Who's going to stop them?, from re-taking this Republic?.
Remember the Military, and ALL who took that Oath, it stay's with you for life.
There comes a point where you roll over, or have enough.
on Sun, 12/27/2009 - 08:22
#175324
uhhh, don't know what branch of service that "Lt. Major" claimed to be from, but there ain't no such rank AFAIK........
on Sun, 12/27/2009 - 08:40
#175329
oh, and BTW, romanticizing the the US military is a BIIIIG MISTAKE.
They are one of the most politically corrupt organizations on earth. There are plenty of good people in the organization, but the leadership is totally politicized........as in, they DO NOT look out for their own.
This Oath Taker idea that the "Military" will protect the people against the govt is bullshit.
on Sun, 12/27/2009 - 11:35
#175403
Sorry, Sgt Mjr,and I did not mean that the Military would prtotect the common citizens.............
That they would let us rip.
If it came to that.
Remember, these folks are US.
If it got that bad, trust me, they know where their bread is buttered.
And your correct..................Texans, will be with Texans.
on Mon, 12/28/2009 - 10:56
#175945
Republic of Texas: 1836-1845 R.I.P.
How'd that work out the first time? Oh, that's right, they needed the US to annex them because they were up to their eyeballs in debt and couldn't handle being an independent republic back then, any more than they'd be able to today, either.
You can wave your guns and your flag all you want, while i'll be watching video from the predator strikes during this latter-day version of 'the alamo'.
on Sun, 12/27/2009 - 09:31
#175346
The US can hardly bring itself to fire on foreign enemies on foreign soil without lawyering the situation to death. That makes it less not more likely that they fire on say, Texans especially when the fire team in question is likely to be from Texas.
on Sun, 12/27/2009 - 12:07
#175417
The US can hardly bring itself to fire on foreign enemies on foreign soil without lawyering the situation to death. That makes it less not more likely that they fire on say, Texans especially when the fire team in question is likely to be from Texas.
on Mon, 12/28/2009 - 11:54
#175996
look - the American public is armed well enough to take over some pacifist country but who are you kiddin that it could even topple the local swat team??
The reason Americans can be well armed is that the US Military is armed beyond anyone's dreams which makes the public look like a declawed kitten
on Sun, 12/27/2009 - 15:18
#175504
If I understand him right I tend to agree with his general thesis. The size of the housing problem for the largest national economy in the world is greater in force than the constitutional government. Therefore any forcast that's based on the last 100 or so years of examples in democractic capitalism is suspect. Expect major paradigm shits, as Faber points out war is the most obvious.
That being said for a supposed superior intellectual he seems to miss the entire nature of communication. For example, no one cares if you know more than them if you can't communicate that you know more than them. Trees 'know' a lot of stuff I don't too, but frankly I don't give a shit. Richard Feynman, well known physicist, talks about the nature of communication in one of his interviews. Or see Lao Tzu.
on Mon, 12/28/2009 - 11:57
#175998
the problem with most of the people on ZH is that the only way to communicate with them is to throw a bag of gold off a cliff
on Sun, 12/27/2009 - 18:17
#175575
This is a very good response and I disagree only on one point... Democracy was never a system for the masses to be heard , rather Democracy means many Kings and with the power of the polling booth even a tiny minority can gain power ... in other words the smartest faction in the mob gains the rights of the moral founded law.
on Sat, 12/26/2009 - 22:36
#175210
I would like Zerohedge to get a bit more Asian, the bubble being formed in Singapore, Hong Kong and China is truly magnificent. Building is just continuing and continuing. The easy credit policy funded by China will have to stop at some point and I for one would like ZH to get in some decent 'on the ground' writers for the topic.
Thanks for 2009.
on Fri, 12/25/2009 - 13:22
#174249
ORGY!!
on Fri, 12/25/2009 - 13:43
#174272
http://popup.lala.com/popup/432627043557996816
on Fri, 12/25/2009 - 13:51
#174283
AND GOLD!
on Fri, 12/25/2009 - 14:02
#174298
AND BITCHES!!!
on Fri, 12/25/2009 - 16:55
#174430
"What should ZH focus on next year?"...censoring this jackass's comments.
on Fri, 12/25/2009 - 20:51
#174604
Nothing a few lawsuits can't deal with. In any event, you seem to be confusing landlord-tenant cases with foreclosures, Two very different things.
on Sat, 12/26/2009 - 14:07
#174965
It's entirely possible that:
A)This guy is a prick
AND
B) Obama wants to make housing, credit, healthcare, a job and a decent chunk of your money a civil right for anyone who happens to be maintaining body temperature within the borders of the USA. Right now.
What do you think "Second Bill Of Rights" or "Positive Rights" means. Barry's actually quite keen on the idea and talked about it openly all the time before he got elected. He'd probably wax poetic on it right now if anyone bothered to ask him.
http://www.associatedcontent.com/article/1151942/barack_obama_on_redistribution_of_wealth.html?cat=9
on Sat, 12/26/2009 - 14:34
#174975
Yeah, censorship, it's the American Way! I'll put in a good word for you to head up the Thought Police.
I am Chumbawamba.
on Fri, 12/25/2009 - 13:37
#174253
Retailers Vying for Discount Seekers Cut Prices After Christmas
http://www.bloomberg.com/apps/news?pid=20601087&sid=amN49nN5nmEs&pos=1
on Sat, 12/26/2009 - 03:27
#174785
There are many news stories about retailers offering big discounts over the last month and how it seems to be drawing in shoppers. Retail stocks have been soaring.
The obvious question is, if discounting is so good for retailers then why don't they do it all the time?
on Fri, 12/25/2009 - 13:27
#174256
@EVERBODY
Any takers on the name-the-(potential)-scandal identified by Sprott? I think a name could give the story some legs:
+ QuEasyGate?
+ GeithnerGate?
Any others?
on Fri, 12/25/2009 - 13:44
#174276
BillGate (as in T-bills)
on Fri, 12/25/2009 - 16:50
#174428
BillGate. I like it. Kinda reminds me of Billingsgate, the infamous district of swearing and cursing.
on Fri, 12/25/2009 - 14:45
#174345
List A
______
ARMEGADDEN
THE TRUTH
THE END
THE GREAT KOOLAIDE REGURGITATION
WORLD WAR THREE
CHAOS
OUR FINAL UNDOING
List B
______
THE GREAT IGNORING
THE GREAT SO WHAT
THE CONTINUED DENYING
THE MILD WHATEVERING
THE COLECTIVE SIGH
THE ENIGMATIC, HUH?
on Fri, 12/25/2009 - 17:13
#174445
Give ignorance a chance!
on Fri, 12/25/2009 - 20:00
#174574
derivatives of lies, loyalty and ethics swaps, honesty defaults, ponzy insurance
all too complex for me. From hereon each day the sun will shine a little longer, and perhaps remove the shadows from wallstreet. Yea right!
on Sat, 12/26/2009 - 07:56
#174821
LOL What you don't know can't hurt you. He who increases his wisdom increases his sorrow. He who doesn't increase his wisdom doesn't increase his ability to respond appropriatedly. Ignorance is the blissful employment of no response-ability.
I agree with ya. Give ignorance a chance! Do it for the dumbasses who want to be know it alls, answer to every problem, full of shit guides to a full of shit universe!!!
on Fri, 12/25/2009 - 15:12
#174360
Valentine's Day Part Deux - Airing the Greivances
and of course, that old standby, Charlie Foxtrot Nation.
on Fri, 12/25/2009 - 17:37
#174459
gotta be "FedGate"
on Fri, 12/25/2009 - 18:44
#174503
Thanks, DH!
on Fri, 12/25/2009 - 13:32
#174262
Any one hear that the Pope was 'assaulted' at his Xmas mass today? A 'mentally unstable' woman jumped the rail and managed to pull the Pope to the ground before security intervened.
Between this and the Berlusconi incident, and the Obama secret service lapses, I think the Powers that Be are sending a message to all their lackeys, henchmen, puppets... Do as you are told, or you will be involved in an accident, caused by some random "mentally unstable" person...
Just a though!!!
on Fri, 12/25/2009 - 14:04
#174300
Interesting. However, it looked to me that she never even got close to Popey, and that he merely tripped over the rug he was wearing while the woman was being tackled to the ground by the Pope Goons.
At any rate, maybe it's an indicator that people are getting nastier, and that current security--which assumed a more docile public--are inadequate for the new level of disquiet and hatred brewing in the ocean of plebes.
I am Chumbawamba.
on Fri, 12/25/2009 - 14:29
#174324
"Mentally unstable?" Sounds more sane than any woman I've ever known.
[Ba-da-dum, dum, <cymbal crash>]
on Fri, 12/25/2009 - 15:07
#174357
Hey-ooooh.
on Fri, 12/25/2009 - 23:19
#174553
We are all becoming mentally unstable
on Sat, 12/26/2009 - 18:33
#175114
"schizophrenia is the exterior limit of capitalism itself or the conclusion of its deepest tendency, but that capitalism only functions on condition that it inhibit this tendency, or that it push back or displace this limit....Hence schizophrenia is not the identity of capitalism, but on the contrary its difference, its divergence, and its death " - deleuze & guattari
many would disagree with D&G's use of the term capitalism, myself included. but whatever they described as capitalism was exactly what we are experiencing today, so please excuse the loaded term.
on Fri, 12/25/2009 - 13:34
#174263
Less anti-government tirades & conspiracy theory tinfoil, more facts and figures from legitimate, proven & credible sources.
on Fri, 12/25/2009 - 13:48
#174279
And pray tell who are these "legitimate, proven & credible sources"? The NYTimes? Washington Post? US Government? The Federal Reserve? HAHAHAHAAAHAHAHAHAHAHAAHHHAHAHAHAHAA!!!!
on Fri, 12/25/2009 - 14:03
#174296
Certainly not GG, but c'mon, some of the tinfoil and the so-called "sources" cited by some who post here would make one think the NYT, WP or Uncle Sam, etc were the epitome of credibility.
on Fri, 12/25/2009 - 14:06
#174305
I say let people fish the ocean of ideas and find the good ones for themselves.
I am Chumbawamba.
on Fri, 12/25/2009 - 14:14
#174311
That has always worked for me. What also works for me is calling out some of the bovine excrement to be found on here from time to time by its proper name, ie: bullshit. Just to clarify, i am not speaking of Marla or Tyler (or you or GG) here, but there certainly are a few others. Happy holidays.
on Fri, 12/25/2009 - 14:46
#174346
Well, I think that our entire present education system is one big giant turd, so whenever I come across something that seems to be the exact opposite of "legitimate and credible" (as taught by our "education system"), I consider it totally legitimate and credible and go with that. But that is my modus operandi and you are free to choose yours, so good luck and happy holidays.
on Fri, 12/25/2009 - 17:40
#174461
Our education system is doing exactly what it is designed to do, whether we like it or not.
on Sat, 12/26/2009 - 04:40
#174796
The Seven Lesson School Teacher.
on Sat, 12/26/2009 - 19:10
#175136
I thought so. Thanks.
on Fri, 12/25/2009 - 21:56
#174641
Our education system is design to stupefy a greater portion of the masses...
on Sat, 12/26/2009 - 08:17
#174825
Oh so they are "credible" sources because the bank bandits who bought them give them good fico scores and upgrade them with ratings agencies all the time!!!!!
You can't legitmize bullshit. It's too easy to burn.
on Fri, 12/25/2009 - 17:43
#174462
"And pray tell who are these "legitimate, proven & credible sources"?
That was great GG, laughed my ass off!
My wife has always been more cynical than me when it comes to anything said by the government, large corporations, and mass media. In my defense, I've had little trust in governmental and media pronouncements over the years, just not as downright cyncical as she is. As to large corporations, I worked in financial services for 30 yrs and I do know that just about everything is a lie, misrepresentation, spin, daily Dilbert dialogue, etcetera.
She won. She's right. I'm wrong.
on Sat, 12/26/2009 - 23:22
#175225
I've had the experience of working at very high levels
with corporate PR departments (Chairman of the Board
level). They are all are liars. Constantly lying about almost any public statement. Corporate PR is a career of lies.
on Fri, 12/25/2009 - 14:15
#174314
+1 I agree 100%. Too many financial blogs spell their own demise when they move from mostly fact posts to mostly rant posts. Listen, everyone thinks the government is a bunch of shitbags, it is not news and the rants about it bring nothing new to the world. All it does is increase the amount of off-topic goldbug rants in the comments for all of the real posts, which is a shame. I am sick of 50% of the comments on totally unrelated stories ending up being about gold or healthcare or both. "I can't wait for the apocalypse, I am going to trade my home jarred lettuce jams for gold to pay the doctor with when Obama's nazi healthcare explodes the socialism in all of our faces!!11!!"
on Fri, 12/25/2009 - 14:16
#174315
+1 I agree 100%. Too many financial blogs spell their own demise when they move from mostly fact posts to mostly rant posts. Listen, everyone thinks the government is a bunch of shitbags, it is not news and the rants about it bring nothing new to the world. All it does is increase the amount of off-topic goldbug rants in the comments for all of the real posts, which is a shame. I am sick of 50% of the comments on totally unrelated stories ending up being about gold or healthcare or both. "I can't wait for the apocalypse, I am going to trade my home jarred lettuce jams for gold to pay the doctor with when Obama's nazi healthcare explodes the socialism in all of our faces!!11!!"
on Fri, 12/25/2009 - 14:26
#174322
lol, definitely have read that last line here more than once in all of its various forms
on Sat, 12/26/2009 - 01:51
#174764
I love the way Jesus' post about not getting hijacked by foaming at the mouth goldbugs has been hijacked by the very same thing.
on Sat, 12/26/2009 - 05:57
#174807
I'd rather be a foaming at the mouth gold bug than a foaming at the mouth dollar-bug/paperbug any day.
on Sat, 12/26/2009 - 12:01
#174909
Dollar "bugs" are nowhere near as vehement in their 'belief'.
I'm short term bullish on the dollar, but I'm prepared to run screaming from the greenback at any moment.
Few goldbugs can say the same.
on Fri, 12/25/2009 - 16:08
#174398
They end up being about gold because gold is important. Don't overlook the obvious. Unknown people are trying to help you, despite what you may think. The good guys are out there. Learn to be more discerning.
I am Chumbawamba.
on Fri, 12/25/2009 - 16:37
#174422
No, they become about gold because most of the hardcore market blog folks are obsessed with it, it is not some natural movement where everyone sees the gold-light all of the sudden. This site was not all about gold before it was popular. I have witnessed in many blogs about the credit bubble since at least 2005 that once they become popular a clique of goldbugs moves into the comments. It is probably all the same people in each one!
on Fri, 12/25/2009 - 18:13
#174484
As someone who was viewed as a wingnut or worse because I tried telling everyone I met about gold from 2002 (gold under 320) onward I want to say this.
In 2002-07 the people I talked to didn't want to listen. Their optimism filter wouldn't allow in a message that predicted the current events. The message was also a hard sell because Bartender Al kept everyone drunk. You know how hard it is to talk to drunks. I tried but I more or less gave up because it was futile. Now everyone knows about gold. In some ways I agree because there isn't much of a discussion with all these recent experts but I do not agree that is the case here at ZH. The quality of the contributors and commenters is outstanding and as long as that continues ZH will be what it is. The death of other blogwebsites has been in my experience from the contributors loosing inspiration, "anotherfuckedborrower" comes to mind. Its too big a burden for one man or woman to carry. Blogs are born and and blogs die.
Now at least gold is on everyones radar.
One aquiantance who has heard my message for a while said to me last week, "why didn't you tell me you weren't lying about gold".
on Sat, 12/26/2009 - 04:51
#174797
dogbreath, Oh don't I hear you! I was buying gold/silver in 1994 telling people what was coming. I've been the 'kook' in the circle of friends the entire time since then. Everyone says some variation of "you gotta go along to get along" or "it will never happen".
I started to laugh when after a few years it changed to "it will never happen in our lifetime". Now I get (about monthly) calls randomly from all these 'friends' who had given me so much shit over the years, all asking me pretty much the same thing you mentioned, and all starting with some ridiculous statement like "oh man, remember that crazy shit you used to talk about? Oh Man, I SEEN IT ON TEE-VEE!".
That's what made it real for them. NOT that I was a living human being in the room showing them photocopied documents and tables and desperately trying to explain it to them in full context, oh no. It's when the fucking Television shows it, well good God man, It Must Be Real!
Pathetic.
on Fri, 12/25/2009 - 23:01
#174691
It is ALL about GOLD. He who has the Gold makes the rules, and if you don't have any, I guess you won't be making any and will just have to play along (read: be a slave).
on Sat, 12/26/2009 - 13:30
#174949
Gold is a Hardcore Insurance Policy- that is its true value. But... he who has the gun can confiscate the gold.
Gold will only have value, so long as we keep this bruised and bleeding country together. Otherwise, the more gold you have, the bigger the army you will need to feed.
on Sat, 12/26/2009 - 14:39
#174979
Thank you for that completely jumbled and yet nonsensiscal and poorly-reasoned thought.
I am Chumbawamba.
on Fri, 12/25/2009 - 17:19
#174432
Bingo.
Do you really think that all of this financial damage can be fixed by creating more paper ticket/digital money out of nothing? ...and without dire consequences?
The Titanic has already hit the iceberg. The damage is done. Some of us have filled some lifeboats and are paddling, as others say "It can't be sunk!" and go back to the bar to talk about stochastics and head and shoulder patterns.
If you were one of these people, and you didn't do everything you possibly could to encourage fellow passengers to get off the sinking ship and onto the lifeboats, could you live with yourself afterwards?
on Fri, 12/25/2009 - 20:55
#174608
fuck 'em Rusty. Remember your OPSEC, or you'll have these cold and hungry idiotic minions pounding on your door for a handout.
Live up to your namesake there! ;)
on Sat, 12/26/2009 - 01:37
#174759
Yeah, I guess.
Oh well, back to the LP/OP.
on Sat, 12/26/2009 - 23:15
#175220
Thanks Rusty and Chumby for your well-reasoned counterpoint.
If your gold is paper IOU's then, of course, it can be used to wipe your ass, so it will always retain some value. If it is in bricks at your house, you better spend some time practicing your shot. If it is more than a few bricks, plant a big garden to feed your army. Is that clear enough fer ya...
on Sun, 12/27/2009 - 12:03
#175414
yeppers, easily
on Sat, 12/26/2009 - 23:26
#175228
I thought you said that you were tired of the Healthcare rants.
on Fri, 12/25/2009 - 13:35
#174265
Why are you evading the family Christmas Intimacy Express Experience today? X-Mas, one day of divine hope, peace and love each year, and you're online. So am I.
Why?
My best reason is I've been happily relegated to the smoker's room. But I'll have to carve the turkey in 10 minutes, I'm now being told.
Who are the rest of these people posting on Christmas, I'm wondering?
on Fri, 12/25/2009 - 14:37
#174333
I'm stoned and in the mood to share my thoughts.
What % of invested retirement funds are in mortgages underwater and thereby lost?
on Fri, 12/25/2009 - 15:02
#174355
This on is sitting, drinking, eating and generally trying to enjoy the day after shoveling 3 frikin feet of snowdrifts so in case my 91 year old Mom in law has any problems the paramedics can get in. Some of the family can't even open thier doors to get out! Never be carefree when they say a blizzard is coming. AND, we say Merry Christmas to all.
on Fri, 12/25/2009 - 18:23
#174489
Ouch, sorry to hear. I remember my days shoveling fondly. Now, I'm enjoying the sunny and 62 degs. here in Phoenix. Yeah, I know it's hot here in the summer, but you never have to shovel sunshine.
on Fri, 12/25/2009 - 21:02
#174609
Well, my father ate a fricking Christmas ornament that was shaped like a gingerbread cookie, and my elderly mom tried to kinda filch one of the grandkid's plastic bouncy toys (I caught her in the act putting it in her purse and made her give it back.) Karma was found when the toddler accidentally boubced it off her face in an attempt to get it to light up.
Yep, its Christmas time in my household and I'm all out of hard liquor.
on Fri, 12/25/2009 - 23:13
#174701
I'm sorry. Used to have those Christmases. It changed. Life is much better. Sounds like work is a haven, in comparison.
on Fri, 12/25/2009 - 13:39
#174268
shalom bitches !!!!1
on Fri, 12/25/2009 - 13:51
#174284
we thought you were spirited away to Lithuanian CIA
interrogation center
on Fri, 12/25/2009 - 14:07
#174306
Cheeky, you bastard, how did you manage to get out of the trunk?
on Fri, 12/25/2009 - 21:03
#174610
Yo Cheeky, you're alive!
on Fri, 12/25/2009 - 15:42
#174380
Shalom Bernanke!
on Fri, 12/25/2009 - 15:52
#174386
LMAO
on Fri, 12/25/2009 - 23:17
#174704
Shalom ya Bastard. Hang out more. Teh peeps likes you. See posts around where folks want to know where ya been.
on Mon, 12/28/2009 - 07:08
#175827
Bobsled bitches!!!! Just say no to slalom.
on Fri, 12/25/2009 - 13:45
#174277
Criminal activities of the Federal Reserve and who owns it. WE NEED TO BRING THIS SUCKER DOWN!
on Fri, 12/25/2009 - 14:55
#174353
The Federal Reserve is NOT the only problem. They are simply a lobby group for the member banks. Getting rid of FR is like trying to stop the war by getting rid of lobbyists for Raytheon .
on Fri, 12/25/2009 - 15:24
#174373
"like trying to stop the war by getting rid of lobbyists for Raytheon ."
Gotta start somewhere...
That sounds like a small, managable, doable little project there.
on Fri, 12/25/2009 - 16:23
#174408
Ms., Merry Christmas!
on Fri, 12/25/2009 - 18:42
#174501
Happy holidays and may you remain, Unscarred.
on Fri, 12/25/2009 - 23:05
#174696
Merry Christmas and a Happy New Year MsCreant!
on Fri, 12/25/2009 - 23:15
#174702
:-D
Same to you, dear one!
on Sat, 12/26/2009 - 23:20
#175223
Bloomberg says Goldman owns Harris Beechcraft that has a billion dollar contract to make spy planes for Afghanistan.
on Fri, 12/25/2009 - 16:09
#174400
That's a bit simplistic. Sure, the FR is not the ONLY problem, but it's certainly the biggest and most destructive.
I am Chumbawamba.
on Fri, 12/25/2009 - 16:31
#174413
Would you blame the USDA for all the fat arses? No because like the FR, the USDA is just a lobby group for the food industry. You can destroy the FR but unless you dismantle the entire fraudulent banking system, it would just morph into another "creature". FR is not the body or even a tentacle, but simply just the ink cloud allowing the tentacles to either take hold or, as recently seen, allowing the predatory system to escape death.
on Fri, 12/25/2009 - 21:04
#174611
Well, I certainly don't disagree, but you gotta start somewhere.
I am Chumbawamba.
on Fri, 12/25/2009 - 21:40
#174631
The Fed is the wellspring by which all the socialist zealots are empowered.
Be they academic charlatans, war- mongering corporatists or welfare state bureaucrats,
all rely on the regime of irredeemable currency to fund their odious agenda.
SHRED THE FED!
on Fri, 12/25/2009 - 18:33
#174496
Take down the FR, and we take down their ability to manipulate the currency and scam the entire populace. Like cutting three or four heads off the hydra....the beast is severely weakened, but not yet dead.....soon enough.....
on Fri, 12/25/2009 - 23:07
#174697
Well, we gotta start somewhere, and the fed seems as good a place as any.
on Fri, 12/25/2009 - 13:47
#174280
Who OWNS the FR ?
This would be good info....
on Sat, 12/26/2009 - 23:23
#175226
Who owns the Federal Reserve ? The Antichrist, of course.
on Fri, 12/25/2009 - 13:53
#174287
I'd like to see a comprehensive series, written for the average individual, on how economic insitutions actually function, and their effect upon average people.
on Fri, 12/25/2009 - 14:31
#174326
It would be nice with a map to the jungle , yes.
on Fri, 12/25/2009 - 15:11
#174361
In the coming year, you are going to see real life enactment of how those economic institutions function. Many of those "economic institutions" no longer even make the effort of concealing their illegal behavior.
on Fri, 12/25/2009 - 16:31
#174414
That would actually be a great idea. Then I could actually penetrate the brains of those I steer to certain threads here whose eyes glaze over after reading language totally foreign to them.
on Sat, 12/26/2009 - 23:28
#175230
The free market system, a laudable theory, was long ago replaced by a system that caters to the very few on the backs of the many. It is no longer taught in college, the books have been burned. Sorry...
on Fri, 12/25/2009 - 13:58
#174293
Why do we have so many Scot trade helicopter Commercials?
Why do Companies advertise (Aka, beg for cash) shortly after their names are up in the media somewhere?
What about the dozens of Companies quietly making a small penny unnoticed?I am so tired of the fake smiley propaganda spouted by media networks on thier so called business channels.
What does Poland and Turkey matter to us? See thier channel on satellite tv alot.
Why is it I see more commercials for money, either plated mint coins on blanks, gold sells via envelope by mail, or a bank promising safe haven by way of second mortgage etc....
Why cannot all that go away, Ditech used to be pretty darn good barometer for Real Estate before the craptastic crash. Just after I forgot about Ditech, they are BAACK!
Do these people think we are dumb?
What is it with State Farm, Travelers, Geico and similar companies crowding my TV set on the satellite vying for my insurance business?
The landscape needs changing. I might just open wide, bend over and endure the cost of a DVR or something and record only the content that matters a tinkers damn while bleeping out these commercials.
Be nice to sit down longer than 7 minutes and WATCH something all the way through.
And finally but not last... I am so sick of having the volume way down at level 8 and get blasted out of my chair 60% or more on a commercial.
on Sat, 12/26/2009 - 15:12
#175002
You don't have a DVR? (Stunned uncomfortable silence). However, before the anti-TV lobby decends on me with their shrill, turn my mind to mush, argument...Note, He already has a tv! In my mind, the DVR is the product of the decade, hands down, and the most vital piece of technology in my house except for my tv, remote (without the DVR is useless)and a hand gun.
on Sat, 12/26/2009 - 18:46
#175118
got a gun? if so, i got a great idea for some quality entertainment:
take your TV out to the backyard, paint a bullseye on it and shoot a clip into that motherfucker. you'll spend weeks reliving the memory in your easy chair, plus you'll most likely give some inspiration to the neighbors.
better yet, shoot a vid and upload it to uboob.
on Fri, 12/25/2009 - 14:00
#174295
i) Working out how to be able to pay yourselves a decent wage for the work you put in, without selling out to financial industry...
ii) The various tricks governments will use to pretend the fiscal situation is better than it really is, especially understating inflation...
iii) Suspicious trading activity...
iv) The dreadful job the munis do at managing budgets - excessive wages and benefits to local authority workers , misuse of derivatives...
on Fri, 12/25/2009 - 15:44
#174381
One more thing - a periodically updated table of Treasury auctions, date, size, maturity bid-to-cover, direct vs indirect etc etc, so we can quickly see changes to auction results. Obviously, I could do this myself, but it would allow for discussions of perceived trends...
on Sat, 12/26/2009 - 02:13
#174769
Oh, which elements would you like to see on the new periodic table?
on Sat, 12/26/2009 - 17:52
#175093
666 Ho Hopium
on Fri, 12/25/2009 - 14:02
#174297
Japan.
2010 budget: JPY 92300 bn.
http://www.ft.com/cms/s/0/d4a884b8-f051-11de-839a-00144feab49a.html
2010 new JGB issuance: JPY 44300 bn.
http://www.mof.go.jp/english/bonds/e20091225overview.pdf
JGBs currently outstanding: JPY 694300 bn.
on Fri, 12/25/2009 - 14:04
#174301
UN to Produce Bullion Coins as World Currency
on Fri, 12/25/2009 - 20:13
#174582
There is a mint now producing silver bullion one ounce coins stamped with indents to be split into 1/2s or 1/4 s. How perceptive of the industry. I would call that forward looking. If i could remember i would leave the link, but i was smoking a bowl at the time. Now theres a growth industry.
You all have a wonderful day!
on Fri, 12/25/2009 - 21:47
#174635
And a wonderful barter item as well.
on Sat, 12/26/2009 - 11:32
#174893
"Stagecoach Silver" ("for when you have to get out of dodge") from Northwest Territorial Mint. It's directed toward the gunshow crowd, I think.
on Sat, 12/26/2009 - 11:54
#174906
http://bullion.nwtmint.com/silver_stagecoach.php?cid=193
on Sat, 12/26/2009 - 13:00
#174934
Cool. I just picked up a "Piece of Eight": a silver coin with 4 diametric indents to allow the coin to be split into 1/8ozt bits.
I am Chumbawamba.
on Sun, 12/27/2009 - 11:37
#175404
Well between Anon, and Mad Max, at least we have two gun owners.......LOL
on Sun, 12/27/2009 - 14:29
#175480
This mint has fractional silver (and gold), but the mark-up is pretty high. But apparently they are selling a lot of them.
http://bullion.nwtmint.com/index.php
on Fri, 12/25/2009 - 14:05
#174302
I think it would be cool to have a real time graph of those interest maturity rate swaps that Morgan Stanley was pitching Mtd,Ytd performance etc.
We could call it watching the train wreck in real time. That and price of gold GG.
on Fri, 12/25/2009 - 14:05
#174303
#1 Profitable trading FOR REAL PEOPLE (not millionaire quants) on all the corruption of the US government including the Fed, Treasury and Congress and Judiciary that you write about. We all know it is corrupt and broken to the core. FIGURE OUT A WAY TO TRADE IT. CONCENTRATE ON THAT. Gecko is on the right track. At some point dollars will stop working and only blood will fix it. Bring it down. The sooner the better. #2 The trading. #3 The trading. Predictions without accountability are useless.
on Fri, 12/25/2009 - 14:09
#174308
What happened to Wall St. Pro? Miss him!! Probably got foreclosed and living on the street now.
on Fri, 12/25/2009 - 15:47
#174384
Or hiding from the repo man.
on Sat, 12/26/2009 - 02:57
#174779
Tell me, why in the hell would you bother to try to repo anything from walstpro?????
We've seen what he does to the things he (presumably)paid for, what do you think he would do to something that he had stopped paying for? Come to think of it, that would probably be his most entertaining video ever... Not that I want to see him having issues with repo or forclosure crap, I'd just like to see him let loose on some bigger targets.
Deckhand
on Fri, 12/25/2009 - 14:20
#174309
Zero Hedge should focus on the same things it has been focusing on since its inception, and keep an accurate record of any and all policies and subterfuge that ruined the economy so as to refute any revisionist history you know will follow as politicians try to deny responsibility.
The great ponzi scheme on which the American economy is based has began to fail in 2007. Its been balanced on the precipice ever since.
My Question;
What year in the future will the American economy face its ultimate collapse?
on Fri, 12/25/2009 - 14:41
#174341
My hope (and it is only that) is that collapse doesn't happen before 2012, as I need more time to prepare. I've been telling friends for years, though, that the FRN won't see its hundredth birthday (2014) and am curious about two things: (1) everyone's thoughts on this article: http://www.strike-the-root.com/92/butler/butler3.html and (2) what everyone thinks about the FRN being replaced by a regional currency (the so-called "amero") and the likelihood that it will be accompanied by the creation of the so-called North American Union (following escalation of war in the ME and a "national emergency" requiring the implementation of martial law).
I frankly don't know how the USG can survive (not that I want it to) without a lurch toward regionalism following the collapse of globalization (dollarization).
on Fri, 12/25/2009 - 17:31
#174456
The Amero? Are you kidding? how would that be in the strategic interest of the Canadians, or even the Mexicans? Canada has a fiat currency, but at least it has immense natural resource wealth with which to back it. The only way the Amero will happen is at gunpoint.
on Sat, 12/26/2009 - 10:55
#174877
The US has immense natural resource wealth as well. We're just not allowed to use it.
I am Chumbawamba.
on Fri, 12/25/2009 - 18:39
#174499
Interesting thoughts....I am mega-bearish on the USA, and think the FRN will fail. But not in the near future, no where near it. The chaos it will create will be the endgame for the current system, of the 300m people in the USA, I would say about half give a shit.....and that half will be gunning for blood. The world has seen nothing like this....and they know it. A long way off a currency failure, but the decline continues in the meantime.
on Fri, 12/25/2009 - 14:16
#174317
Who really owns and controls GS and JPM and the Fed.
on Fri, 12/25/2009 - 14:24
#174321
GW, is it possible to compute the amount of interest we paid in 2009 to the Fed for the use of our own money? It would be interesting to track this year by year, and watch what happens to our families, infrastructure, schools, crime, etc., as it progresses.
on Fri, 12/25/2009 - 14:27
#174323
VIDEO:
G Edward Griffin - Creature From Jekyll Island
A Second Look at the Federal Reserve
http://video.google.com/videoplay?docid=6507136891691870450&ei=rBE1S4jzNYeYqAOR3fnNDg&q=the+creature+from+jekyll+island&hl=en#
on Sun, 12/27/2009 - 11:19
#175393
@MarketTruth THANKS for that link. Very interesting. Thomas Jefferson said that a Central Bank is UNCONSTITUTIONAL. Here is what he said:
http://en.wikisource.org/wiki/Opinion_against_the_Constitutionality_of_a_National_Bank
on Fri, 12/25/2009 - 14:36
#174332
Latvia: Loan us more or the puppy gets it.
on Fri, 12/25/2009 - 14:38
#174334
less from that idiot rosenberg at gluskin. probably the greatest destroyer of wealth in 2009.
on Fri, 12/25/2009 - 14:40
#174336
too funny!! she said "well almost" that's right don't forget we are like a tank of Piranha hungry for you Ms. Marla
on Fri, 12/25/2009 - 14:43
#174342
Better headlines.
on Fri, 12/25/2009 - 14:45
#174344
Keep doing what you're doing but please pay a little more attention to the following topics:
Personally, I believe these are the issues of 2010.
on Fri, 12/25/2009 - 14:48
#174348
My psychiatrist says that ..., well, uh, never mind.
on Fri, 12/25/2009 - 14:52
#174351
Normal 0 false false false MicrosoftInternetExplorer4
The detailed financial stuff is great although my main objective is “HOW CAN I MAKE MONEY FROM THIS” for me and clients. I try to not get too distracted by what seems to me to be discussions akin to re-arranging the deck chairs on the Titanic.
The financial conclusions I have to come to are generational in scope. Marc Faber had a great piece on a castaway who could only access the financial markets every ten years. In 1970 he bought gold, in 1980 sold gold bought Nikkei, 1990 bought US market, 2000 sold the US, etc. LOL
The main thing I see missing from it all is the large sweeping views – clearly, long-term investment decisions follow from them.
Mine are as follows
1. The United States [all of us] is bankrupt and unable and UNWILLING to repay its long accumulated debts.
2. By 2030 the Chinese economy will be several times the size of the US economy.
3. The US is now under the de facto authority of a military dictatorship.
4. A normal 22-27 year higher interest rate, higher commodity price cycle began a few years ago and will continue for another 20+ years.
5. Between 2009 to 2013 the US, its people, homelands and its markets will experience large-scale, unique and severe disruptions.
on Fri, 12/25/2009 - 18:58
#174518
By 2030 the Chinese economy will be several times the size of the US economy.
I'm just not thinking that that will happen, not because the US won't sink, but because China is running head-long toward the cliff of massive instability (unsustainability).
But, by 2030 I doubt that people will be engaged in any such discussion(s), as it'll be about survival.
on Fri, 12/25/2009 - 21:54
#174637
China has a lot of problems (demographic, environmental, etc.). China also has a long history of messing up just when they are on the verge of being a superpower. If we have just calm leadership here, I don't think we need to worry about China.
Worry more about fixing us.
on Sat, 12/26/2009 - 14:27
#174971
If you want to make money long term then your projection about China is dead wrong. China continues merrily along as a one-off Communist/Capitalist perversion.
China counts what is produced (communist ideology) not what is sold or consumed. Therefore their GDP numbers are totally bogus.
The American consumer's ability to continue to purchase Chinese made Junk through Wallmart, etc., has been severely crimped since the inflating/refinancing bubble of house prices has been popped. This, along with the ironic loss of their American customer base, the American middle (working, now non-working) class, as China stole American manufacturing jobs.
Jeez, I'd like to hear again, why cheap, imported crap in Wallmart is good for the American economy.
So, China will carry on, as if nothing has happened, until something happens. I will give you a prize, if you can pick the time and date of the triggering event. Maybe, a little event like merging with Taiwan, over the protests of the U.S.
on Tue, 12/29/2009 - 14:43
#176136
I would love to see some threads involving Walmart or Chans Club.
Something like:
1. Penetrate domestic market with Made in USA products.
2. Force domestic suppliers to cost cut in order to achieve market exposure WM can provide.
3. Cripple domestic operations to the point of liquidation by making them directly compete with imported products.
4. Set up deals with Chinese manufacturers to make goods with liquidated equipment from US.
5. Tell domestic customers they are being provided with jobs and should be thankful to WM for $9/hr.
6. Show how WM has taken advantage of the US taxpayer by acknowledging their employees must rely on state/federal programs as wage subsidies.
Just saying.
on Fri, 12/25/2009 - 15:11
#174362
Nuke A gay Whale For Jesus - I think that about covers it.
on Fri, 12/25/2009 - 15:13
#174363
Congress using 4 years of health care taxes to mask the massive structural deficit while they don't actually provide any health care.
on Fri, 12/25/2009 - 15:14
#174365
Congress using 4 years of health care taxes to mask the massive structural deficit while they don't actually provide any health care.
on Fri, 12/25/2009 - 15:16
#174366
gold. definitely gold. and don't forget inflation cause it might actually happen in a few years. so, yeah. and the dxy going to negative 13.
thanks to everyone at Zero Hedge for all of your time, efforts and energy.
on Fri, 12/25/2009 - 15:17
#174369
The US is at the edge of the abyss. California is always a step ahead!
Watch California and report everything ignored by the MSM, even the seemingly irrelevant.
Thank for your hard work. Happy Holidays, you deserve it!
on Fri, 12/25/2009 - 17:01
#174434
Yes, seriously, keep a running total of how much Federal Tax money Californis bilks from the other 49 states.
Expose california for the failed liberal tarrarium that it is.
on Fri, 12/25/2009 - 19:23
#174536
Lest anyone fail to make the connections to all of this, it was un-briddled (corporate) growth that precipitated all of this.
As some have (correctly) pointed out, CA is a leading indicator.
I'd say that CA's big mistake, as has been that of most of the other net federal tax generatoring states, is in feeding the federal government (which does absolutely NOTHING for the people, except to steal from them to pay their rich capitalist friends).
on Sat, 12/26/2009 - 11:29
#174889
Yeah, the 6th (or whatever) biggest economy in the world needs your trifling tax money. Nice try. It's the other way around. I want my tax money back.
I am Chumbawamba.
on Fri, 12/25/2009 - 17:32
#174457
Bingo. Cali is the tip of the spear.
on Fri, 12/25/2009 - 17:52
#174470
I promise you that New York will put up one hell of a battle with California. I do agree that Cali is the tip and is a massive accident happening in slow motion. Keeping an eye on Cali is wise as an indicator.
Let's hope our Cali commenters continue to share their pearls with us.
on Fri, 12/25/2009 - 18:44
#174506
If you follow fashion at all, you know it hits Cali first, then New York. It will truly be in to be thin in all things before too long.
Love you deadhead. Happy holidays.
on Fri, 12/25/2009 - 19:32
#174549
Although Michigandians are not known for their fashions, they're certainly known for their hard times and recessions. Michigan was first into this crisis and technically in a DEPRESSION according to length of recession, unemployment rate and drop in GDP. Look to Michigan as a window into the US's future.
on Sat, 12/26/2009 - 10:00
#174862
same to you MsC!!
Keep the fire up.....people are beginning to get off their arses in America but need to be motivated.
on Sat, 12/26/2009 - 14:40
#174981
That is soooooo yesterday. New York got $700 billion, then $1+ Trillion. California just wants to keep up with the penguins in New York.
Thanks to all ZH'ers for lifting the TARP(s) covering the stinking excrement that is our financial system.
Maybe we could focus on baby steps towards a solution that saves/helps the country.
It behooves the powers-that-be to marginalize this site and discussion.
Happy New Year.
on Fri, 12/25/2009 - 18:54
#174511
Surf=flat like a lake. Building and CRE at standstill with massive and increasing vacancies in retail. There has traditionally been a lot of turnover downtown, but the vacancies were always filled; now they sit vacant. Multiple building projects put on hold or just walked away from. Oddly, municipal "beautification" projects continue unabated while city admin workers are furloughed this holiday for 2 weeks (overheard "88 hours" per person). Tourists just keep on coming, saw busload after busload of foreigners of unknown origin coming and going this Christmas morning. Houses are staying on the market for over a year as realtors-in-denial counsel their clients that the great way to sell a house that was selling for $1.7M at the peak is to lower the the asking price by 1-3% every 4-6 weeks while having open houses with cookies and "tours" for other delusional realtors. (Someone made the point here that for a certain price range there simply are no loans to be had. Must be within jumbo conforming with 20% down, pay cash or find a charlatan pushing option ARMs and the like.) Hedgies that survived the first round of cuts are frothing. Many, many financial heads were chopped. Christmas shoppers were nuts and prolific. Everyone seemed to be having a sale. If I can think of anything else that may be pertinent I'll edit my post later, gotta go teach my 6 year old daughter how to ride a skateboard like a good SoCal-er. I'd love to hear from the internationals too!
on Fri, 12/25/2009 - 15:20
#174370
How can we a decades worth of financial failure as a call to action? We bitch and moan, but can we actually do anything proactively instead complaining? We should utilize the fat of the land.
on Sat, 12/26/2009 - 05:47
#174805
Yes - you can buy Gold. This will collapse the present corrupt system faster and more effectively than anything else you can imagine.
on Sat, 12/26/2009 - 13:05
#174938
I concur and second. And don't forget silver.
I am Chumbawamba.
on Sat, 12/26/2009 - 23:38
#175231
Say Gordon, when you are buying gold, who is the fool selling ?
on Fri, 12/25/2009 - 15:21
#174371
How can we use a decades worth of financial failure as a call to action? We bitch and moan, but can we actually do anything proactively instead complaining? We should utilize the fat of the land.
on Fri, 12/25/2009 - 15:23
#174372
It is clear to me and quite a few others that the source of most and maybe all economic distortions is the FED and the central-bank model, those who still don't see this may do well to study the subject.
So the focus for ZH should be to
(1) further the understanding of central banking past present and future
(2) bring to light as much of the activity of FED as can be found and dug out (and make no mistake nobody is smart enough not to leave fingerprints, there are plenty of trace materials)
(3) stimulate strategic and tactical analysis of the central bank construct and its weaknesses, strengths and flaws, only a closed minded person would accept these relatively recent constructs as enduring (mind you they lasted barely a little longer than the Bolshivik revolution). As an example, the renomination of Bernanke is a strategic mistake on the part of the oligarchs, essentially it is a gift to anybody who sees the FED for what it is. Nevertheless it will take some effort to turn the mistake into an opportunity.
Keep up the good work.
on Fri, 12/25/2009 - 16:02
#174393
see: Austrian Liquidity Theory; Creative Destructionism; Elliott Wave Theory; and Socionomics.
for extensive history w/o methodology: read Kindleberger.
on Fri, 12/25/2009 - 16:35
#174419
Funny - I tried to implore ZH readers to check out Kindleberger and my post got axed. Thanks for the reiteration.
on Fri, 12/25/2009 - 20:31
#174595
Hey Chop, Haven't talked to you since TC. Hope you are doing well. I assume you are working with Fibo.
on Fri, 12/25/2009 - 22:35
#174675
Ross Perot is doing 2 and 3. Mark Cuban started to do 2 and 3 but was shortly charged with insider trading. How does Ross get away with it? He has retired military buddies.
It goes like this: John was a lawyer in the Marines. He was then the hatchet man for the Senate minority leader. Then in the Attorney Generals office. So he's about to convict a mob Don. His wife calls and says a black Caddy is parked in front with two guys in it. He's says "be right there."
He walks up to the car and points his 45 at the drivers head and says: "You tell ______ that if anything happens to me or my family; I have 4 Marine Sergeants that will do the same to ______ and his family." John's family was fine and the Don was inside.
I think that the honorable former military will defeat the bankster mercenary guards. The motivation will be the coming hard times. It will bring us together to accomplish our objective. And you can take that to the bank!!!
on Fri, 12/25/2009 - 15:46
#174382
Is there any moderation of these comments going on?
on Fri, 12/25/2009 - 21:58
#174644
Open thread. What does that mean to you, I am curious?
on Sat, 12/26/2009 - 09:40
#174854
ANON apparently has very delicate eyes. You're in the wrong place, pal.
on Fri, 12/25/2009 - 15:56
#174388
Zero Hedge should continue exactly what it is doing. Thanks and Merry Christmas to all the Tylers and Marla. Also, thanks to all the people who leave insightful comments on here. "...new level of disquiet and hatred brewing in the ocean of plebes." Awesome.
on Fri, 12/25/2009 - 15:58
#174389
Had missed this Soros speech. There is more on his website. Nothing new about the theory of reflexivity, but it was interesting to see how he got nailed in Russia, yours truly having gotten nailed the same way too...
on Fri, 12/25/2009 - 16:09
#174401
George Soros and David Rockefeller-Seperated at Birth
on Fri, 12/25/2009 - 16:42
#174424
love him or hate him, he knows how to trade
on Sat, 12/26/2009 - 19:08
#175128
the good thing about ol' georgie is that he lays out a trail of clues to those willing to listen. rockafella's just a blueblooded prick.
on Sun, 12/27/2009 - 08:22
#175325
So you really believe he scored the Pound devaluation purely on gut instinct and didn't arrange for it, eh?
No wonder these thieves can get away with it. People actually believe in Santa Claus and great fortunes are made without crimes being committed.
It ain't knowing how to trade; it's controlling the trade and that is not only reprehensible it's illegal. Credit him with getting away with it, but any criminal who is allowed to get away with it like invesment bankers own it, are in control of the legal system. Justice? For that you must wait to get to heaven.
Savvy trading, my ass.
on Fri, 12/25/2009 - 15:59
#174391
- what is the event (and when will it happen) that will cause the markets to correct? The Dubai default seemed to be a blip on the chart of the ever appreciating US markets.
- when will the markets trade on fundamentals again (vs manipulation/$ carry trade/liquidity etc. BS)?
- I would be willing to go long (and am long gold), but who is buying at these nosebleed prices?
- who is going to win the Titans/Chargers game tonite, and what will the score be?
- WFT... why are your folks at Zerohedge doing working today? Though we all appreciate your efforts, please give it a rest... you deserve it.
Happy Holidays to all, and Best Wishes for a Happy New Year.
on Fri, 12/25/2009 - 16:01
#174392
I think it would be very interesting for ZH to divulge the effective tax rates that major entities pay (JPM, C, GE,GS, etc.) vs the effective rates of average working Americans. It would be an easy fix for TBTF to have these same entities pay a Flat Tax and they would rapidly divest, and become much smaller!
Thaanks for all you do!
on Fri, 12/25/2009 - 16:04
#174394
Let's all remember to have lots of fun! With this group I just know that recess continues to be a local favorite.
on Fri, 12/25/2009 - 16:07
#174396
Keep doing what your doing, the more people that become of aware of the reasons they feel like a hampster on a treadmill the better off we'll all be. Expose every bit of the corruption you can on these scumbags. Share ideas on our financial survival and the excellent mixture of contributors work.
on Fri, 12/25/2009 - 16:14
#174403
First of all, Merry Christmas and Happy New Year to alll ZH'ers from The Good Ship U-96 and all officers and men of Ninth Unterseeboote Flotille.
On what we should discuss in 2010:
1) Constant Coverage needs to be applied to the Fed and all its activities, as the unlimited QE program comes to its logical conclusion and the US Fiatsco becomes the New Zimbabwe Dollar;
2) More coverage of the Vampire Squid as it will continue to thrive no matter what happens in the U.S.;
3) Social unrest becoming a daily occurence almost everywhere in the United States;
4) MORE ON GOLD AND PRECIOUS METALS INVESTMENT (truly a must for these times);
5) Perhaps a regular column or feature on "Survivalism" - home defense and armament, survival rations and gardening, how to develop skills and goods for bartering purposes, and how to organize worker's collectives and co-ops to provide basic employment and output that can be traded or sold to other social groups.
You can see where I'm going with this. 2010 will be the beginning of the end, as state and local governments go bankrupt and totally cease to operate, creating tremendous public law and order problems. As the Feds refuse to help, more and more individuals will be taking the law into their own hands for survival. Crime and violence will approach Iraqi proportions.
You will need to be prepared.
KptLt. laughing swordfish
9er Unterseeboote Flotille
on Sun, 12/27/2009 - 10:36
#175373
ls,, my list... perfect