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Rice Two Cents Away From "Limit Up" For Second Day In A Row, At Highest Price In Over A Year

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Tue, 02/01/2011 - 17:26 | 925174 Gubbmint Cheese
Gubbmint Cheese's picture

I'm long Uncle Ben's

Tue, 02/01/2011 - 17:33 | 925203 hedgeless_horseman
hedgeless_horseman's picture

Hmmmm.  Uncle Ben's.  Ben The Bernank.  Coincidence?

Tue, 02/01/2011 - 17:39 | 925220 Dr. Richard Head
Dr. Richard Head's picture

If history repeats then I would anticipate price controls on rice in China and a consumate shortage to seal the deal.  Wonder how China will cope?  Wonder how SNAP users will be able to compensate for the lose in the purchasing power of their virtual currency.

I'm going long surburbian hookers.

Tue, 02/01/2011 - 17:46 | 925260 DoChenRollingBearing
DoChenRollingBearing's picture

I'm long DBA (food ETF), closed up again today.

Dr. Dick, I would think that you would want to avoid diseases w/ hookers...

Tue, 02/01/2011 - 17:50 | 925274 Dr. Richard Head
Dr. Richard Head's picture

Oh these won't be just any hookers.  These will be the new class of hookers from the suburban jungle baby.  One's just trying to pay the bills during the ensuing turmoil.  Besides, I am doctor and can cure all ailments.  Bernanke Bucks can cure everything.  Just apply liberally.

Tue, 02/01/2011 - 17:52 | 925284 Cheesy Bastard
Cheesy Bastard's picture

+100%

Tue, 02/01/2011 - 20:35 | 925652 Mark McGoldrick
Mark McGoldrick's picture

Can someone explain this chart to me:

http://finviz.com/futures_charts.ashx?t=ZR&p=w1

Seems to me that quantitative easing has nothing to do with it.

Peak Rice?   

Tue, 02/01/2011 - 17:55 | 925292 EscapeKey
EscapeKey's picture

Be careful with that lot - they're used to screwing their husbands for all their worth.

Tue, 02/01/2011 - 17:57 | 925305 Dr. Richard Head
Dr. Richard Head's picture

Apparently you missed the whole hooker thing.  I would be looking to get screwed.  HAHA.

All hail the dollar.  All hail the dollar. 

Tue, 02/01/2011 - 18:03 | 925328 EscapeKey
EscapeKey's picture

Nah it was a play on words; screw, as in the unpleasant way in divorce court. Ah well, jokes are so much funnier when you have to explain them.

All hail the strong Dollar, and low inflation policies, and the masters making them possible.

Tue, 02/01/2011 - 18:14 | 925365 Cheesy Bastard
Cheesy Bastard's picture

Yeah, but then they blow it.

Tue, 02/01/2011 - 18:24 | 925414 Turd Ferguson
Turd Ferguson's picture

A new "movie" for the enjoyment of everyone:

http://www.youtube.com/watch?v=RBGqtOKmWHo

Tue, 02/01/2011 - 19:14 | 925591 DoChenRollingBearing
DoChenRollingBearing's picture

EXCELLENT Turd Ferguson!  

We LAUGH upon you despicable shorts, after we puke on you...

Tue, 02/01/2011 - 17:54 | 925289 Sudden Debt
Sudden Debt's picture

I THINK YOU JUST UNCOVERED THE BIGGEST CONSPIRACY IN THE DECADE!

http://images9.cpcache.com/product/politics+-+government-

 

Tue, 02/01/2011 - 18:48 | 925491 whatz that smell
whatz that smell's picture
The webpage cannot be found  HTTP 404   Most likely causes:
  • There might be a typing error in the address.
  • If you clicked on a link, it may be out of date.
  What you can try:   Retype the address.   Go back to the previous page.   Go to  and look for the information you want.   More information

dead link, spunkmeyer.

conspiracy 404, bitchez.

Tue, 02/01/2011 - 19:04 | 925560 EscapeKey
EscapeKey's picture

OMG IT WAS TAKEN DOWN

Tue, 02/01/2011 - 21:59 | 925844 slewie the pi-rat
slewie the pi-rat's picture

 

vietnam:  rice & all RE transacted in gold.

those commies really screwed THAT place up!

but, maybe we can do better if all the good poker players decide to go back home.

hmmm...do ya think the chinese would be stupid enuf to BUY these bull rallies when they kinda m/l control the best rice bowl on the planet?

OMfreakinG!!!  i'm typing this and there's an ad for CRAMER on the L side of the box!!!

tyler:  can you give him horns?  pullleeeeease???

i went to edit, and there he is on the right,  just begging for a dunce cap!

 

Tue, 02/01/2011 - 17:28 | 925175 Michael
Michael's picture

I found this amusing story on the web. Pass it around to other financial blogs if you like it.

How an Unemployed Machinist Pulled a Nathan Rothschild on Rothschild's Bank.
By,
Anonymous: A True Story

The sorted details begin when all hope was lost with the election of Barack H. Obama. The 2008 Presidential election failed to yield a candidate with the knowledge and will to fix the severe transgressions of the USA and our monetary system. On September 16, 2008, failures of large financial institutions in the United States, due to exposure of securities of packaged subprime to prime loans and credit default swaps issued to insure these loans and their issuers, rapidly devolved into a global crisis resulting in a number of bank failures in Europe and sharp reductions in the value of equities (stock) and commodities worldwide. The failure of banks in Iceland resulted in a devaluation of the Icelandic Krona and threatened the government with bankruptcy. Iceland decided to give the middle finger to the IMF and go it alone. They are now well on their way to a real robust recovery. In the United States, 15 banks failed in 2008, while several others were rescued through government intervention or acquisitions by other banks. On October 11, 2008, the head of the International Monetary Fund (IMF) warned that the world financial system was teetering on the "brink of systemic meltdown". Henry Paulson, head of the US Treasury threatened "martial law" if the Federal Government did not aqueous to his blackmail. What followed was privatizing the profits of banks and socializing their loses on the backs of the American tax payers to the tune of trillions of dollars. This was all the motivation I needed to do something really smart on my part.

Unemployed two years at the time living in my mothers basement, I had an 810 point credit score, $250,000 in available credit, zero debt, and a nest egg of $20,000 in the bank. Knowing I would never be able to secure meaningful employment with the way things were going, I could not accept I would be living in my mothers basement for the rest of my life. The banks began pulling my available credit at a rapid pace. My available credit dropped to $50k within the year 2009. I had credit card checks at 0% on the reaming cards when I made my move, maxing out all available unsecured credit in cash advances. Being an armature economist for 35 years and knowing the devastation of the housing market in Florida, I began shopping for a home of my own. After negotiating the original selling price from $100k to $33k, the home I purchased near the end of 2009 was a foreclosure built in 2005 and first purchased for $311k on March 3rd of the following year, incidentally the same exact day I lost my job back then.

It's a really nice home with 1900sf under air 2750sf total, 3 bedroom, two bath, with a man cave, a 2 car garage, and good size lanai. Turned out the home was a hydroponics grow house with minimal damage originally thought to be a Chinese drywall house. I really wanted to fly down Walstreetpro2 and have him smash up the drywall for me making a documentary of it called "The Chinese Drywall Syndrome", but those plans changed when I discovered after forensic analysis what the house really was and no need to go postal on that Chinese drywall shit. The well water system pumped directly into the house used in the grow operation had released moisture and sulfer making it appear as having Chines drywall.  No one ever lived in the house and was empty for two years prior to my purchase. Perhaps the man upstairs was smiling down upon me at the time, thus my good fortune.

That hopey changey thing the President promised me was a complete failure, but I learned well from the likes of JP Morgan, Goldman Sachs, and the rest of the International Banking Cartel bandits on how thy do the thing. The kicker is, I paid cash for the place and took advantage of the cash for house clunkers rebate bringing my opportunity cost down to $29,000. My monthly expenses with the Florida homestead exemption gives me $1,000 in property taxes and about $300 in monthly utility bills. Lowering my overhead costs at a time like this was of paramount importance to me given my continued unemployment and economic collapse to come. I feel no remorse for my financial shenanigans playing the system like a fiddle as I was taught by them how to do it. I stopped making the payments on the credit cards last March when my money ran out. So far the notices for payment have been few and far between. Perhaps that is because they know I will immediately file for bankruptcy if they get out of line.  One more thing; It is virtually impossible for the bank to take the house in bankruptcy court in Florida on a homestead that is 100% paid off. Non-collateralized debt is unsecured debt. What is it about unsecured debt that some people don't get? By the way, it's 75*F in South Florida today. Have a nice day.

The moral of the story;
There is no moral hazard anymore, all is fair in love and banking.

Tue, 02/01/2011 - 17:59 | 925313 william the bastard
william the bastard's picture

That story (with the dozen or more grammatical errors included) is dumber than a bag of boots.

Tue, 02/01/2011 - 18:11 | 925354 tmosley
tmosley's picture

"Hurr hurr, UR dum."

Nice analysis there, shit for brains.

Tue, 02/01/2011 - 18:44 | 925440 Michael
Michael's picture

Yeah, who is dumber than a box of rocks now Bastard?

I ran that essay through an online paper grader.  It had no more then 2 grammatical errors. and 1 misused word.

Grade: 83* -> B
*based on college grading scale

http://www.paperrater.com/free_paper_grader

Tue, 02/01/2011 - 18:31 | 925444 whatz that smell
whatz that smell's picture

if you break the chain the chain will break you.

Tue, 02/01/2011 - 18:38 | 925464 MachoMan
MachoMan's picture

The problem with this approach is that although you get a free house out of the gig, you'll have a ceiling on the amount of money you can accumulate...  now, practically speaking, he may be able to simply settle the debt for pennies on the dollar without filing for bk...  of course, gotta watch out for the tax man on the difference...

unless of course, you're willing to lie under oath...

Tue, 02/01/2011 - 18:43 | 925403 Michael
Michael's picture

Deleted

Tue, 02/01/2011 - 18:04 | 925331 impending doom
impending doom's picture

When you put "the sorted details" in the 1st sentence, it kinda ruins it for me...

Tue, 02/01/2011 - 17:27 | 925179 gorillaonyourback
gorillaonyourback's picture

hamy says fuck the mass starvation agro stocks goin through the roof

Tue, 02/01/2011 - 17:28 | 925184 John McCloy
John McCloy's picture

Lord Bernanke: " Let them eat Snookis"

Tue, 02/01/2011 - 18:00 | 925315 william the bastard
william the bastard's picture

I'll take mine with pepper spray.

Tue, 02/01/2011 - 17:28 | 925185 kaiten
kaiten's picture

Deflation? o)

Tue, 02/01/2011 - 17:29 | 925188 Ragnarok
Ragnarok's picture

Tyler, clearly you are not factoring the wealth effect Bernanke is causing Mud Hut prices. 

Tue, 02/01/2011 - 17:34 | 925205 John Law Lives
John Law Lives's picture

Is The Ben Bernank a psychopath?

Tue, 02/01/2011 - 17:36 | 925214 SheepDog-One
SheepDog-One's picture

The crazier our 'leaders' act every day, the worse the underlying disaster theyre desperately trying to hide.

Tue, 02/01/2011 - 17:41 | 925233 John Law Lives
John Law Lives's picture

~$2.7 Trillion in federal deficit spending (cumulative) from FY2009 - FY 2010...

~$1.5 Trillion in federal deficit spending (projected) for FY2011...

The Fed has jacked up M2 Money supply like crazy...

http://research.stlouisfed.org/fred2/series/M2

This is obscene policy.

Tue, 02/01/2011 - 17:52 | 925207 plocequ1
plocequ1's picture

Fried rice indicator.. No change. Its all good. Still $3.00/ Pint. Im sorry to say though that Won Hung Lo and Suc Mi Pork went up in price

Tue, 02/01/2011 - 17:35 | 925210 ZippyBananaPants
ZippyBananaPants's picture

Hey, is Idol on tonight?

Tue, 02/01/2011 - 17:44 | 925247 Dr. Richard Head
Dr. Richard Head's picture

It is called American IDLE for Bernanke's sake.

Tue, 02/01/2011 - 17:36 | 925213 HarryWanger
HarryWanger's picture

Rice is still 33% lower than it was in 2008. I don't recall "food riots" in China or anywhere else for that matter when it was substantially higher. 

Tue, 02/01/2011 - 17:39 | 925216 SheepDog-One
SheepDog-One's picture

2008....AH YES and a great year it was indeed! I remember 'the good times' well...Collapsing equities, housing total meltdown, threats of martial law from stuttering Paulson unless he gets a free unlimited checkbook, and $150 oil, you freaking dumbass.

Tue, 02/01/2011 - 17:50 | 925273 oklaboy
oklaboy's picture

nice, very nice

Tue, 02/01/2011 - 17:41 | 925231 hedgeless_horseman
hedgeless_horseman's picture

Oil, too.

Tue, 02/01/2011 - 17:41 | 925234 Tyler Durden
Tyler Durden's picture

Where was wheat in 2008 when Tunisia did not depose its president?

Tue, 02/01/2011 - 18:36 | 925458 whatz that smell
Tue, 02/01/2011 - 18:51 | 925525 redarrow
redarrow's picture

IMHO we are close, the next round of QE will do the Fed in.

Tue, 02/01/2011 - 17:42 | 925240 faustian bargain
faustian bargain's picture

Ah, there's the solution then. Raise prices on rice, to stop the food riots. We're going in the right direction after all!

It's a good thing there's no unemployment problem.

Tue, 02/01/2011 - 18:03 | 925329 SPONGE
SPONGE's picture

Dangit! Wish there was a rice ETF. This was a no-brainer trade late last week.

Tue, 02/01/2011 - 17:43 | 925242 EscapeKey
EscapeKey's picture

http://en.wikipedia.org/wiki/2008_global_rice_shortage

Traditionally dependent upon rice as their main staple food, Asian nations such as IndiaChinaBangladeshPhilippines and Thailand were the first to "feel the pinch" of rising prices.Japan, which produces enough rice for its domestic needs, maintained a constant pricing and no consumer concern.[6]

Deadly riots over the rising price of food erupted in Haiti on April 4, 2008

http://en.wikipedia.org/wiki/2007%E2%80%932008_world_food_price_crisis

The price rises affected parts of Asia and Africa particularly severely with Burkina Faso,[93] CameroonSenegalMauritaniaCôte d'Ivoire,[94] Egypt[95] and Morocco seeing protests and riots in late 2007 and early 2008 over the unavailability of basic food staples


Tue, 02/01/2011 - 17:51 | 925279 oklaboy
oklaboy's picture

eascape, very well done, ht

Tue, 02/01/2011 - 17:43 | 925245 John Law Lives
John Law Lives's picture

Escalating food prices have been cited as one of several primary reasons for the demonstrations in Egypt.

Tue, 02/01/2011 - 17:44 | 925251 earnyermoney
earnyermoney's picture

Because Ben B. was not in the regime change business. That is the point of QE4Eva. Of course, you are witnessing some of the unintended consequences of these Ivy League meatheads.

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