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Wildebeests Charge Again: Mad Rush to Worms and Nightcrawlers
Just 5 months ago, the Europeans were snubbing their noses at our weak currency, charging us $8 for Big Macs and Starbucks Coffee. Claiming that our currency was backed by "worms and nightcrawlers", since the Fed had monetized some delinquent Cabela's receivables during the initial phase of Quant Sleaze. My how things have changed.
Today, Wall Street players can easily fly to Paris and London and all the high end escorts are all available at 35% discounts these days.
But attention must now be directed to the single asset which is in acute short supply at the moment: The U.S. Nightcrawler.
The Europeans thought they were "All That", with their lunch time siestas, generous unemployment benefits, the "pensions for life" jobs, and uninhibited women.
However, the tide has changed and the currency backed by the worm-infested Fed balance sheet is now the hot ticket:
And notice how the purveyor of these worms was shot out of a cannon today:
Up 13% as many are bypassing the Fed and our currency and are now buying directly from the manufacturer:
So, for now, we can travel freely to Europe and engorge on some of these beauties:
http://www.bluevelvetgirls.com/
"How much do I owe you for the services?"
"That will be a 5 gallon can of Nighcrawlers, sir!"
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Euro-cash can take its arrodunce and shove it where the sun don' t shine.
Greece is going to stiff.
Spain will stiff.
Italy will stiff.
Portugal will stiff
Notice these are all Club Med countries....party hardy boy and girls on my dime!
Can't blame them for going stiff. Hell, looking at that last picture I went a little stiff meself.
Anyone else remember this blast from the past?
Supermodel Gisele Bundchen: 'I won't get out of bed for US dollars' Read more: http://www.dailymail.co.uk/tvshowbiz/article-491838/Supermodel-Gisele-Bundchen-I-wont-bed-US-dollars.html#ixzz0mzokVBp1Hope she ain't honkin' on the euro bobo....
This must have hurt you in some way for you to remember that.
Or was it hyped by the free press?
REITs unfazed again today.
Investors would rather invest in empty commercial buildings in the U.S. rather than take any chances with foreign investments.
LOL....
Check out the REITs here:
http://clearstation.etrade.com/cgi-bin/bbs?post_id=9334943
wtf?!
"REITs unfazed again today."
They were fazed:
SP500 -2.38%
$RMZ -2.39%
IYR -2.34%
SPG -2.90%
MAC -4.41%
VNO -2.96%
CBL -4.16%
PLD -5.80%
Who needs empty commercial buildings when you have the re-birth of jumbo prime RMBS?
MOOdy's AAA doncha know! Even Citi is dipping in the toe - water feels juuuusssst right.
http://www.housingwire.com/2010/05/03/citimortgage-slashes-interest-rate...
I know the VIX is up and the bears are growling, but it just didn't feel like September 2008 today. I think the fear factor is just not there like it was back then.
For example, on a day like today, Ann Taylor Stores is making new highs:
I am scratching my head too. Then again, it's so depressing that the wives are out hunting for bargains, maxing out the credit cards, totally oblivious to what is going on in the real world. Not a care in the world.
Meanwhile, the poor husband is trying to figure out which card still has room left to buy the kid some toys, thinking "damn, my portfolio is evaporating faster than we rack up these debts!"
My life in a nutshell.
I remember the first time I sat down with my ex-wife to discuss a budget. She became like the soup Nazi, "NO SEX FOR YOU!"
I remember that day too. Never made that mistake again. I've learned I'm just the breadwinner who is along for the ride.
Ned,
You did the right thing. I held my ground, stubborn as hell, which is why I'm dating the Palm sisters now.
Christ Leo! Mom told me if I kept doing that, I would go blind. So I quit when I just needed glasses!
"so I quit when just needed glasses!"
Did you use some sort of patch for that?
Haha, classic thread!! My wife got her first.....and LAST...bailout this year. The look on her face when I sliced through her credit cards with a pair of scissors, cancelled her accounts, and put her on my Amex account......PRICELESS.
I highly suggest you try it, quite therapeutic. The tears are worth it.
Steve,
You're a brave man. Don't worry, the Palm sisters will never reject you. LOL!
LOL, Leo, there is such a thing as too much information!
She does have a nice snarl though...
bravo steve! for the non new yorkers here, you are really missing out on the snottiest chicks on the planet who think they are entitled to live in a sex and the city episode every day. luckily i found a nice import from upstate.
I feel for you guys. My wife used to like to go out and buy shit without thinking about it but some how I actually got her interested in saving money, and in gold and mostly silver no less.
It's like you almost have to forgive them when they do stuff like this. They are part nature part nurture. The "nurturing" they get from television, magazines, friends, walking past stores etc. washes their brain throughout their lives and they simply can't help themselves.
Like junkees, until you cut off the heroin.
" I actually got her interested in saving money, and in gold and mostly silver no less."
Your wife is going to take all your silver and the money she has been saving...
To hire a custom jewelry designer to make jewelry out of your gold....
I am sorry to have to break the news to you...
Ha, just like Moscow.
Dad, I'm over here.
F that Leo. I'd rather date my right hand for the rest of my life before subsidizing some spoiled brat. Luckily, after the wedding destroyed the balance sheet, my austerity plan has been implemented and rigorously enforced.
The reason divorce is so expensive?
It's really, really worth it.
People are just being re-acquainted with volatility right now. We'll probably need an extended (couple of months) period of range-bound volatility to set up the next big bear-side opportunity. This might be the start of that, or it might just be a routine correction. A little too early to say, although the pending sovereign debt crisis is going to be a big hurdle for the bulls to overcome.
comment from an uninhibited woman.
what the hell are you talking about with ann taylor. those price points aren't going to break any one's bank. always has been working class styling.
now my brand, PRADA, could. only buy when on sale.
Ah yes, Prada, Gucci, pucci...lol...brings back great memories...NOT!!!
Looking very...uuuhhhh...."uninhibited" in that photo there, velo......
jump, jump
I saw the thread the other night where someone was freaked out by the shadow. I laughed hard, and then someone else got involved, I think it was Hulk, and I laughed harder. Priceless.
Cat Stevens - Moonshadow:http://www.youtube.com/watch?v=kGNxKnLmOH4
old navy is the new gucci.
Leo Has A Thing For Catholic School Girls!!
Picture #1. Guilty as charged Leo...
You better not be loitering around Loretto Abbey or Notre Dame or the Sisters of the Congregation will be chasing your ass with rulers...
Feels more like October 07 to me.
If we get an up day tomorrow I'm gonna take an bear option spread position on a REIT or two. Maybe AVB. I own a lotta real estate. I gotta tell you that terms of trade in the trenches are not good.
But I've been watching these POSs double and triple. One more good bounce and I'm in.
Remember, you won't get GFE from the Russian girls...
DAS PIIGS:
http://williambanzai7.blogspot.com/2010/05/das-piigs.html
So negative against the Europeans :)
We never where against a weak $, actually buying Iphones on Ebay was never so cheap these last few months. a 3GS for 350€ on Ebay, and 900€ in our stores.
I was anticipating another spike in the VIX, but....wow! The second was bigger than the first, and we had not seen that for quite some time. This market looks like it is in for some unprecedented moves. Big waves a comin'....
A+ pictorial representation of the day.
And now for some random non-sequitor video.
http://www.youtube.com/watch?v=BJYCp8I9qUs
It's all coming apart for the Euro and people in the know are banking on it. Also there are whispers of Germany maybe not going along with this bailout. In fact they may decide to leave the EU. Also Spain's Prime Minister said that it was false that they would need 389 billion dollars to fix their economic issues (What is he supposed to say, yea we need it within 20 minutes his stock market would have fell 30% on top of the 5% today).
It does feel like this market is cracking for the first time since S&P 666.
The $ is due for a nice bounce but thats just it, a bounce, For me many states are Greece type blow ups just itching for a trigger, The next few months short Euro to par with the $ looks a no brainer, I am stickimg with PMs as nothing is safe today.
OT...GOM oil leak w latest sat photo analysis
from http://blog.skytruth.org/
UPDATE 5/4/10 6:30 pm - And here it is. Today's MODIS / Aqua image features a break in the clouds (just barely) to reveal much of the oil slick. Fresh upwelling oil is apparent around the location of the leaking well. Long tendrils of slick and sheen stretch to the east and southwest; the total area of slicks and sheen, possibly including patches of open water, is 3,260 square miles. Nearshore, things get complicated: there are pale bands of turbidity, probably caused by the recent stretch of high wind and waves; and a few dark streaks and elongated patches trending northeast that we interpret as low-wind zones (wind shadow, the result of light winds from the northeast this afternoon). But there could be patches of oil slick obscured by these features. To the south, heavy cloud may also be hiding some of the slick from this ongoing spill.
I must admit to being a turbo-charged economic stimulator because I cannot for the life of me decide where else to put my dollars before they become toilet paper. I have this "stock up now" mentality. But, I am doing it on my dimes made in the market and I am really a mild shopper compared to my peers. Proud to have never had any debt. Truly empathy for what you guys go through with the average women out there. May be one of the positives that comes out of the Greater Depression will be they will all get a severe reality check.
P.S. Anyone have any great ideas on where to invest? Already have my gold, farm, Ford F150, food storage and guns.
you could invest in your own solar- or windpower.
Farmland folks. farmland! They aren't making any more of it.
Except in Detroit.
Yep.
A very good symphony, a respectable opera(so far), a major league baseball team in a new stadium, a storied hockey organization (was mostly Russian, now mostly Swedish), a pro football team and a pro basketball team about 25 miles north, surronded by what is becoming farmland.
I think that once upon a time, it was considered very good farmland.
A pro football team...really?
Sorry, someone had to say it.
LOL seven. sad but true.
Silver and more Au. BTW, what's that flower you have on???
Could it be a faded rose from days gone by?
Here I am HH http://www.toolsofthetradellc.com/comersus/store/catalog/rra_pics/full/223_pro_government.gif
This is a .223, I have the .308, couldn't find a web pic with the eotech NV holosite on the .308
No NV, for the rifle, yet. I have the barrett budgeted for early next year.Picking up a nice Leupold spotting scope/rangefinder for my windcaller next month. Heading back east with all in July to test out some 800 yarders.
The midlength A4 is spot on at 300 yards..
I just got a SCAR. It is amazing compared to my M4. They are both .223 however. They make a .308 version of the SCAR, but thats what a good hunting rifle is for! Come to AZ, we can shoot down the road to 1200 yds. People take their Barretts out there all the time. Sounds like a thunderstorm.
why am i the only person on this blog who likes 7.62x54 :(
had to smile when i saw your avatar - remembering:
"mongo just pawn in game of life..." blazing saddles - 19.. way back when.
good choice.
Serf is just a pawn in the game of life... a backward pawn no less...
Your move Morphy...
Are you Russian?
thx knot. i'm a pawn of the fed and my creditors...
no hulk, not russian, just like their cheap guns/ammo...
Saiga 12, bitches!!!!!!!!!!!
saiga 12 with folding stock, home protection you can believe in.
You are 3mm longer than I am, AS!
I'd like to try out the SCAR. Works very well in your dusty environment. I make it out to Az a couple of times a year, will have to bring out the barrett next year...
Come in the fall or winter, its 100 here already.
Don't forget water purification system, medicine and portable power generator and fuel to run it.
I'd like her to ... (bleep) (bleep) (bleeeeep) (bleep) (bleep) ...ck, and (bleep) (bleeeeep) my worm.
Another risk-off stampede!
DeltaDawn...
Check out www.survivalblog.com (and archives) and your shopping list will grow dramatically.You could always invest in toilet paper so that you don't have to use those hundis to wipe your ass when TSHTF. Charmin would be clutch.