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"You Can't Emasculate a Gelding, Dear."
One supposes it is at least tangentially possible that Angela Merkel intended as some self-effacing, second derivative of Samuel Johnson homage her instant declaration of war on "speculators." Indeed, if "Patriotism is the last refuge of a scoundrel," a pogrom against short sellers must surely be the last refuge of newly emasculated monetary authority.
Proponents of post-modern deconstructionist theory who train their disintegrators on Merkel must, however, somehow reconcile the facts that, though Merkel has indeed been most publicly emasculated, most recently by an actor impersonating a fist-pounding Hungarian purporting to be the leader of France (and how exactly did Lance Henriksen manage to become the President of France anyhow, now that we are on the subject?), the EU hasn't been anything like an "authority" in some time. Seriously, if France and Greece can emasculate you, exactly what manner of prowess can you really be said to have possessed in the first place?
It doesn't take a master in the "dominant cultural logic of late capitalism" to recognize that, very much like the sudden starts of panic that must have undulated about the deck of the Titanic once someone actually started counting lifeboats, outlawing the sorts of instruments that tend to expose how serious the underlying problems are is an act of the most serious desperation. "Women and children first," only works in so far as there aren't other lifeboats on the other side of the ship, where the stewards are a bit more understanding.
In fact, the various and increasingly fragmentary elements that compose the EU appear, almost without exception, to be deliberately undermining the very four elements required to save the Euro:
1. Broad acknowledgment of the problem (it is fashionable to call this "fiscal crisis," but this means only "we're broke") and assumption of responsibility for same.
2. The appearance of a readiness to engage in cohesive, cooperative action to address #1.
3. A demonstrated commitment to functioning and unfettered markets. (i.e. nothing that would permit the credible rumor that capital controls may be around the corner).
4. A distinct air of calm, rational certainty (however fictitious in reality).
Wounded animals, particularly those of the political persuasion, can be the most dangerous and collateral damaging beasts on the planet. The importance of demonstrating that "we are in charge" and "we are in control" when everyone knows that they certainly are not drives sovereigns to do things like point submachine guns at pre-schoolers they wish to deport. We suppose that this latest unilateral move by Merkel may represent merely the public face of some grand stratagem to force the hand of France or Greece or some other wayward sovereign towards some terrible act of fiscal self-immolation for the greater good of the squabbling clique of children in the sandbox EU, but we sort of doubt it.
Doubtless, we must for a time suffer the slings and arrows of outrageous Euro volatility as competing theories reflecting the imminent approach of ultimate collapse compete with those faithful who put their stock in ECB intervention, that is before it finally sinks in that even the ECB simply does not have the kind of hard cash for alimony that could reasonably be seen to fund the lifestyle to which Greece and Spain have so quickly grown accustomed.
We're long EU divorce proceedings and Teutonic deadbeat dad prosecutions thereafter. (Would this imply that a backlash resurgence in "father's rights" would be an Axis power currency union? Or perhaps just the invasion of Poland?)
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Found this posted somewhere....
Lots of guys became bears overnight.
Part of this is related to the fund's behavior regarding MA 200.
I never realized that the outlawing of fraud would be met with so much vitriol. Has it ever been legal to sell something that doesn't exist? Naked shorting has long been against the rules. I don't see how enforcing existing bans on illegal practices is a "war on speculators". If you disagree with me will be happy to sell you some stock I don't own, or have access too. Just send me a check.
You are on the wrong forum. The "facts optional" Zero Hedge forum can be found via http://www.clusterstock.com
Zing.
Marla just killed two birds with one stone.
And you like it?
I enjoy Marla's wit and wisdom. I enjoy Marla's willingness to go out on a limb and back up her position with something other than emotion. I enjoy Marla's ability to admit when she's wrong, which she's done on a few occasions. I enjoy Marla's intelligence and deep background.
So yes, I like it. Marla didn't say that the poster couldn't speak. Just that if he or she does, be ready to defend it. This is fight club after all.
I also enjoy her writing, from time to time, but statement like "willingness to go out on a limb and back up her position with something other than emotion" is a bit overboard as you should see from her quick reaction to post we discuss. What is her deep background you talking about, I want to know it too! I hope he will defend his views, not to mention I have similar convictions and I don't try to hide it. I've read almost all of your writings and now I start to doubt my own impressions of the message you wanted to convey. Just remember it's fighting club! If there are no fighters on other side you just pretend you are fighting something.
I'm regularly roughed up and slapped around here on ZH. Other people like my writing. Take a look at the responses to my articles. Quite a few people think they are garbage and that's fine, they have an opinion. We all do. Even Marla's smacked me across the head a few times. And while I don't always agree with the "fight club" motif, it is what it is here on ZH. If I don't like it, I should go elsewhere.
This is Tyler and Marla's house and they make the rules. This is something I must always remind myself of. They have set the table and they have house rules. I either abide by them or I leave. I want to stay so I adapt and adjust. I don't always like the shouting and sometimes my feelings are hurt. I get over it.
Stay or don't stay. But to complain about the house rules simply means you should start your own blog. Good luck with that. I know I can't duplicate what's here on ZH so I take the bad with the good.
Totally!
I just don't believe it, are you trying to tell me that you have to be conformist? Are you fighter or just pretend to be one?
sometimes you go anti-anti-conformist since conformism then becomes meaningless.
What are you talking about? I'm talking about observing the house rules aka fight club. That has nothing to do with opinions, just with behaviour. You challenged Marla's opinion, Marla challenged yours. The house rules are that you either respond or shut up, to fight or leave.
Go read the responses to my articles. If I don't like what someone has said, I respond. That is the way of this blog. If conforming means conforming to the rules of ZH and fight club, then yes, I'm a conformist.
Does that mean I conform my opinion? NO! I either fight or I shut up. Marla told you to go away. Fight back or shut up. Or go away. What's so hard about this? ZH is not a democracy. Don't you get it? Marla can cut out your comment is she wishes to do so. She rarely does but she can and will if she wants to. Don't like it? Leave. Those are the rules.
Fuck your rules my friend! I'm here because nobody censures my opinions, if it changes I'll find new forum but you and your democracy and freedom of expression is somehow impaired don't you think so? And then all those looking to express their FREE ideas will move somewhere else leaving you alone!
Yes mom, I remember what you said about arguing with idiots.
Yes mom, I understand that arguing with one makes me one.
Yes mom, I did wash behind my ears this morning.
LOL
I understand #1 and I'm trying to implement it,
#2 is a bit incoherent but if your mam said so must be true,
#3 that's good for hygiene
Doy you like like to dilute our discussion to some kind of shit mixing operation?
The 4th rule of Fight Club: Only two guys to a fight.
The 5th rule of Fight Club: One fight at a time.
The 6th rule of Fight Club: No shirts, no shoes.
This means you, too, Marla. Come on, take it off. Oh yes. Ohhhhhh YES!!!
I am Chumbawamba.
LOL. Bob got a shirt pass because he had huge bitch tits...
You ARE a Little Flat Marla...
"This means you, too, Marla. Come on, take it off. Oh yes. Ohhhhhh YES!!!"
I am not Chumbawamba but I laugh at his posts...
Zerohedge is now sheer nonsense propaganda.
Yields down in German Bunds.
http://www.bloomberg.com/markets/rates/germany.html
What will happen? Naked shorting banned everywhere, and, the ultimate libertarian double cross, negative interest rate policies.
Europe Armageddon Collapse™ postponed.
-F6
Wrong forum? Why? I don't see anything wrong with his post, can we have some individual opinions or we will be relegated to clusterstock by you?
+1
Oh, he or she can spout off all the opinions he or she likes. Start asserting facts not in evidence, however, or facts simply dead wrong and then he or she has entered Clusterstock world and would probably be much happier (not to mention making the rest of us much happier) staying there long-term.
Marla, stop already...you are whinning. Speak for yourself and do less of it. That would surely please "the rest of us."
"Whining" you mean?
I think he really meant winning.
+1 oz gold for requesting data to back up unsupported claims.
Marla, I found myself unconsciously crossing my legs when reading your article - but for what its worth I think you are just plain wrong (screaming in a high pitched voice)
You Guys, Girls and others in the New York / London matrix need to get your head around the fact that you have no God given right to take a cut from peoples savings by creating counterfeit money.
Shouldn't you be posting your message of resistance to the ECB bailout architects, or the Greeks?
Internet Tough Guy - Like any good eunuch I am both passive and submissive.
marla, there wasn't a single fact in your entire article, it was conjecture and hyperbole.
Assuming for a moment that was true (which it isn't as a matter of fact) that's quite funny- so was your comment.
I love you, you're realy fighting bitch (lets assume your gender), is it audience building trick or you are realy so fucked up that you can't take any critisism of your product?
ZH is losing some of us here, which is rare.
Oh noes. The CIA trolls are staging a revolt. When we were so willing to be accomadative and make them happy.
Please don't go. It will be so frustrating for us.
http://www.youtube.com/watch?v=YIAnkrPgTvY
Remember: there are no facts. Only interpretations. Transgress.
Cash flow is a fact. Profit is an opinion.
And Marla, I dig the Elian reference. Nice.
Facts are conclusions that one does not think about.
+1
I love you Marla!!!
luv you marla. it was an opinion though, I don't know where the facts would go.
Selling something that doesn't exist...hmmmm. Isn't that the fundamental basis of fractional reserve lending in both the secured and unsecured markets?
+1 <moves away from window>
Even worse is buying something that doesn't exist.
I guess the real point is that all of these regulations are simply, as Dr. Congressman Ron Paul would put it, "Tinkering on the edges. Treating the symptoms and not the disease."
You can pile all of the regulations you want on this ponzi financial world, but the main issue still stands unfettered. Besides, these regulations usually impair the ability of the little guy and not the Primary Deallers anyway. It ends up just consolidating the small guy and eliminating competitors who don't have DC connections.
What the disease is at this point is really beyond me anymore other than fiat currencies aided by the crony capitalism of the various central banks.
The system was fine enough until government decided who were the winners and who were the losers. The market was telling us that AIG, Goldman, Citi, BofA, JP Morgan, Lehman, BS, et al. were failed business models that needed to go under. Instead, our noble politicians decided to scream "systemic risk" as a reasoning for furthering the theft that has been going on for decades.
The one thing I will never understand about those fall days in 08 is why the Federal Reserve didn't just do as they normally do and work from the shadows without asking Congress for shit. They pretty much do what they want anyway. Just look at the ZIRP policy and the savings rate of America for a good idea that the Fed does what it fucking pleases.
Last I understood, interest rates were a function of savings, so the world is already on its head anyway.
I'm done "investing" in this market anyway. I just come here for the good show.
No doubt about it, in the big picture, they are slamming the barn door after the horses ran out 2 years ago. But stopping something that is fundamentally fraud is OK in my book. It won't work, but I'm not going to bitch about that.
To your point about the politicians involvement, the politician's have decided that the "recession" part of the capitalist cycle is bad for their business of getting re-elected, and hence they do everything in their power to legislate it away. The system was cleaing itself out just fine in September/October of 2008. It would have been painful for a while, but we'd be in a better position 5 years from now. As best I can tell, everyone's fucked now. There is no way out of this mess.
I agree. I've been reading ZH since, oh, around November. One of the main themes of this blog is rooting out corruption and lamenting that the SEC and others haven't stopped financial criminality and restoring a functional free and fair market where you take your chances and take your lumps.
Now that Germany has attempted to do just that, and catching the IBs and hedgefunds flatfooted with a big surprise, I'm reading a lot of criticism - I thought this was exactly what ZH-ers wanted done in the US.
I lot of people are commenting on how this is European Socialism and market intervention. After living here for six years, I think it is more of a cultural reaction than some sort of Socialist's intervention. There is a saying here; "Alles in Ordung muss sein!" Everything must be in order! If there is anything the markets are not is "in Ordnung" and the Germans hate chaos and messy kitchens (learnt from my ex-girlfriend)
The Germans are very good about fiscal discipline. They don't fuck around with money. They are very good capitalists with a tinge of social solidarity, I guess that is where the criticism of socialism comes in.
I view this as an attempt to say "enough!" and yes, through market intervention, to try to put the markets (at least theirs) back "in Ordnung".
Now, are they the correct measures to use at this time? I don't know, I'll let someone with expertise in finance and economics address that issue. But like we used to say in the military, "even a bad decision stands more of a chance than no decision, so make a fucking decision!"
Secondly, I feel that Spain is getting a little unfairly beat up here by being put in the same category as Greece as beachbums. Remember, before the crises Spain had a surplus, their budget was in order and their banks enjoyed a very positive and stable reputation. They just got hit with a bubble in real estate. But it wasn't just Spaniards buying up cheap real estate, but Europeans coming from all over to buy vacation villas, particularly from the UK (as well as the unofficial German colony of Mallorca). When those other EU citizens ran into their own financial problems - poof, the bubble popped.
Part of the reason for high unemployment is not that the Spaniards are lazy, but since the beginning of the 2000's low-skilled labor moved up from agriculture into the construction industry. Agriculture still needed laborers and since the Spaniards were building houses, they hired Eastern Europeans and Poles to work the fields. Now those former construction workers are coming back to look for jobs in the fields but the farmers are saying "Hey, you ditched me before, do you think I am going to fire a loyal laborer just to hire you back?"
So, I am uncertain if Spain deserves the same treatment. They lived within their means, unfortunately, those means disappeared in a bubble and they suddenly discovered that they had unknowingly and unintentionally in fact, lived beyond their means.
good stuff. who knows, Germany might be last man standing.
"I thought this was exactly what ZH-ers wanted done in the US."
Right here is where you went off the rails. As if "ZH-ers" are some monolithic mob, torches of approved brightness, pitchforks all pointed in the same direction and homemade signs all adorned with the same pithy phrase (approved beforehand by the protest committee).
Pity it was in your third sentence- though actually that did permit me to skip the remainder of your "discourse."
I apologize Marla, I honestly wasn't trying to be contrary. I joined here because of the scoops of HFT and Goldman. Most posts deal with rooting out corruption. Forgive me if I had the wrong impression of the theme of this site. Best for me to go back to lurking
How is it impossible to dislike the market power garnered by Goldman, the volume domination of (some kinds of) high frequency trading and still recognize that short selling actually represents a market good as well? To the extent that anyone believes that Zero Hedge is some kind of financial Luddite convention they've missed the point- and the forest for the trees. There's not that much uniformity in view here.
Actually, I am the luddite, to be honest. That's why I read here, I'm trying to learn as much as I can about what is going on, so this is sort of like econ and finance 101 rolled into on blog for me.
To answer your question, I haven't learned enough to intelligently answer it. I have learned that short selling is vital and necessary to price discovery in a free market. But I was also under the impression, that this was a ban on naked short selling. My take away from other posts on this issue, as explained by other posters, was that naked short selling is bad and manipulates the market.
It's from that perspective that it seems to me, banning activity that unfairly manipulates the market seems to be a good thing. In my simple understanding, it is akin to playing poker - there are rules but no cheating. Or as someone posted last night "the markets are now Calvinball - and you're not Calvin"
Geez, talk about emasculation.
The 8th rule of Fight Club: if this is your first night at Fight Club, you have to fight.
I am Chumbawamba.
For God's sake, will someone fight already?
Chumba's looking for some blood and he's not going to be sated until some blood is spilled. I already gave at the office so it's up to someone else. :>)
I'd fight Bernank-ster...
"His ass is a wad of cookie dough..."
Thanks, but I don't wish to be a troll either
No lurking Patagonian, keep posting. What this site does have is a lot of bitching. Instead of taking a page from the big boys playbook it turns into a bunch of finger pointing. Instead of using politicians like whores like the lobbyists do we shoot down the ones who might have a leaning toward any kind of change. We judge them by their past actions, so they react by labelling us nut jobs and the circle jerk continues. Give them a piece of candy, pat them on the head, tell them if they continue to reform we will vote them back in. It's called manipulation and the other side uses to great effect. In the meantime they continue to laugh their heads off while the pleebs feed the Republican vs Democrat circus while being enthralled with American Idol.
Yo, bullwink, donate 2 million to ZH for a start - put the rubber on the road and we'll follow your example. Which politician should we buy first? Grayson? Kucinich?
We the People have to buy the elections now?
we should form a corporation first
not touching this argument with a 10ft pole (remember the 5th rule), but OT your observations on Spain are quite grounded P. unfortunately, the tribal strings tying the people together are not of a very durable fabric. the situation that you describe could either be an uniting force (like it was around 2003 i think when they kicked baby Franco out) or a potentially explosive divisive force. i guess we'll see which one soon, maybe sooner than we think.
Her gender is irrelevant. She is a malleable arriviste that rose to fame as a token GDR woman in the context of the cover up of Schäuble, Kohl, Genscher and Weigel's treason and corruption. She will soon be discarded and expediently replaced by a more rat-catching Gestalt as predicted by Johnson's adage.
"Wounded animals, particularly those of the political persuasion, can be the most dangerous and collateral damaging beasts on the planet. The importance of demonstrating that "we are in charge" and "we are in control" when everyone knows that they certainly are not drives sovereigns to do things like point submachine guns at pre-schoolers they wish to deport."
A wonderful description of our collective insanity manifesting in the poltical leadership of the world.
Of course, I'm not insane, just you. Yes, you. But not me. Most certainly not me.
"Of course, I'm not insane, just you. Yes, you. But not me. Most certainly not me."
LOL. I used to have a nutty menopausal neighbor who after a typical psychotic "flip out" episode would state:
"I am not the one with the problem. YOU'RE the one with the problem."
If I'm angry or upset or frightened, the first tendency is to look for who or whatever is "making" me angry or upset or frightened. So much easier to blame someone else for my own emotional state. The reality is no one "makes" me "do" or "be" anything.
When I find myself searching for scapegoats, I try to remember the following. "I was the problem, I am the problem and I will always be the problem."
I think Germany has more viable options that many other industrialized countries. Why all the focus on them?
Europeans being cooperative!? HA!
anyone in EUO?
ProShares UltraShort Euro (ETF)
(Public, NYSE:EUO)
Yeah I have some Aug 10 calls. Been pretty good to me so far.
"Proponents of post-modern deconstructionist theory..."
Derrida?
Wow. Marla Got Smarts on Europe
Nice analysis with a "Sarcastic" Tyler twang no less. And here I though she was just a chain smokin', nympho laundry thief...
I stand corrected...
Just so you know Angela, the price of a security can still rapidly head toward zero without the added pressure of naked short selling or unsecured CDS buying.
I think they just officially ran out of virgins to throw into the volcano! I vote we throw Angela Merkel in, see if that works...
I don't think she's a virgin either. Remember that impromptu Bush backrub? I think it spoke volumes on the behind-the-scenes action that regularly takes place at global summits.
It was all captured in the video, "Female Heads of State Gone Wild!!!" How could you have missed the endless commercials on late night Spike TV?
I am Chumbawamba.
LOL. Never thought of that before. A scene right out of Eyes Wide Shut.
You mean they have sex with animals AND humans? Where do I sign up?
+1 for the Germans. perhaps Germany can lead the way back to an economy where we are actually creating wealth, as opposed to destroying it...billions of pennies at a time.
I totally agree. Naked shorting is equivalent to counterfeiting shares and therefore money itself. I know it is old news but this article by Matt Taibbi really tells the story of how naked shorting started this whole credit crisis.
http://www.rollingstone.com/politics/news/;kw=[3351,11470]
+1. A great article. Best of my knowledge the SEC has never bothered its pretty little head with who made that killing on the Lehman naked short.
Can't help but see this as Germany waking up to the fact that they have the biggest and most solid checkbook. If the story about Sarkozy throwing a fit at the Germans is true, I can fully understand why the Germans did this. This act is no different than a company shedding an unprofitable divison that is bringing down its stock price: you get rid of the division. Germany's balance sheet has been subsidizing everyone else in the euro and is now being asked to contribute an even larger subsidy.
I can just see the big conference call that Sunday ten days ago with Benron on the line explaining how the folks across the pond need to push the QE button and print, print, print. And I can just see the Germans sitting there patiently listening and at the end, saying to themselves whatever the German equivalent is of "Nope. Not for me. Danke Schoen."
p.s. As the evidence of our eyes has amply demonstrated, patriotism is the first refuge of a scoundrel.
yep.
'... if "Patriotism is the last refuge of a scoundrel," ....'
It's not, religion is..... Praise the Lord.....!
Best regards,
Econolicious
And the difference between them is...??
Both require a suspension of disbelief, a belief in miracles, no action only intent.
How is the Bamster any different from god in the eyes of his apostles?
I was just going to say that.
"You Can't Emasculate a Gelding, Dear." or
"You Can't Emasculate a Eunuch, Dear."
The Germans know the EURO is finished (so do you), they will circle their wagons. If the move is right or stupid isn't as important as finally somebody getting into the game. The US government and the ECB will create moves that amount to nothing but hot air (to kick the ball). When reference is made to their politician's paying in the sandbox that's an apt descriptive of every nation. We have allowed financial insanity to rule over the past decade. We are now in a phase where the people that make things, save for their future, create jobs and don't take money from governments will be pillared for the sake of the casino.
It is a continuum so even the dominatrix of the Financials gathering to herself all the money will end one day and a return to a more stable economy will ensue, but the timing is going to suck.
Just as the earth will not suffer fools, will kick them off if they continue to pillage her.
If Greece leaves Eurozone, it's France vs. Germany. Sound familiar?
My money is on Germany.
Germany knows it is getting uncomfortably close to the abyss. Germany knows what that means. Germany, clearly, is trying to move away form the abyss. Kudos to Merkel for her efforts.
Preventing destabilizing speculative attacks that in many cases ultimately derive their profits from the taxpayers is hopefully job one. I hope Germany succeeds, in part so that even more debt isn't piled onto the US balance sheet (swap lines any one?)!
Germany will have to help bail out French banks if it wants to keep peace.
Nop, Germany needs to bail out its own banks:
Hypo, KfW, etc.
Read on:
From WSJ:
'Among publicly traded banks, Commerzbank, through its specialist bank for real estate and public finance unit, Eurohypo AG, has one of the largest exposures, analysts say. Exposure to Spain and Portugal combined make up 19%, or €13.3 billion ($18.09 billion), of Eurohypo's government bond, or public finance, business in the first half of 2009, according to its midyear report.
Troubled mortgage lender Hypo Real Estate Holding AG is exposed through its Deutsche Pfandbriefbank unit.'
Putin is licking his lips - Russia to the rescue!
Ruble rules - or no energy for you
things can happen fast - Athens by summer,
E Europe comes crawling back to get away from
EU inept ruling bureaucrats
Germany who do you trust?
All of Europe could fall under the strong hand of
Putin (the only leader in Europe who is not a metro sexual )will be seen as a stable hand
after all he just murdered the whole Polish leadership and no one said booo
and Our President Odie will be impotent as he plays" it's all our fault." We apologize to Europe for our Imperialism.
Marla, these are definitely long sentences to describe a fairly simple fact: Politicians of whatever gender rather scapegoat some anonymous entity or some speechless minority rather than state the facts. To subliminally accuse Ms Merkel of being some sort of transgender version of Hitler ("pogrom on short sellers") is tasteless at least, especially when the object of Angela's misguided ire is certainly not your average dude with a wrench. Not that I am such a big fan of the woman, but if any European politician has a fairly good record of demanding and implementing a remotely reasonably fiscal approach, it would be her.
Most importantly, however, declaring your country/region broke and start reasonable action is more than the bookkeeping maneuver you make it look: We are talking about jobs, families, education, public health and other such petty issues. The fate of the poor pogromized naked short sellers looks fairly luxurious in comparison to what one false move could do to the people who have been alimenting this system for decades with their taxes. (This is of course not to say that this ban makes any sense in terms of meaningful regulation)
So, defy reality? Do it for the children taxpayers children of the taxpayers? Do it for the taxpayers who have, for decades, lacked the financial literacy or political will to teach politicians the basic fact that when you spend more than you bring in year after year eventually someone is going to go broke? For this we should engage in yet another fiction, that the market- with simply outstandingly simple and cogent logic- doesn't discount the viability of the Euro a bit more every day? No. I think not. I don't think engaging in more fiscal fantasy is the cure for decades of fiscal fantasy. This sentiment is everything that is wrong with the Euro... and will be what eventually kills it. (Don't worry though. State workers in Greece will have a few more months to take their ease first).
"So, defy reality?" Yes, that's part of the program. Focus attention on tangential issues to keep prying eyes from the truth, because if enough people see and accept the truth of the situation we go from the wheels on the cart wobbling and threatening to fly off, to the wheels flying off at supersonic speed and eviscerating the bystanders. It's really as simple as your first day in Accounting 101 when the teacher wrote "Assets=Liabilities + Equity" on the board. There is no shade of red deep enough to describe the world's current "Equity" in that equation. Having said that, I'm no fan of naked short selling, but banning it isn't going to fix the problem.
Who ever said that clinging to the puppets of the past would be a solution? Not me. I is you claiming that a combination of basic math principles, the blessings of the "natural" laws of the market and a return to traditional gender roles in politics will save the monetary union. If this sounds like the curriculum of an 18th century girl's school in New England, guess who is the teacher.
Given the wholesale mismatch between what I wrote and what you responded I would have to say that you are about as gifted a propagandist as a second year undergrad at Yale. (Hint: That's not a compliment).
Marla you have such a wonderful generosity of spirit with the hints and everything. You're like a book of the month club. You just keep giving and giving.
Hey Marla...I just found out what Posse means...Farcism could be a German musical:
Music Encyclopedia:Posse
Top
Home > Library > Entertainment & Arts > Music Encyclopedia(Ger.)
A farce or broad comedy. In the 19th century the term Posse mit Gesang was used in Vienna for a comic play with solo songs, rudimentary ensembles, incidental music and sometimes short choruses. Composers of music for Possen included Wenzel Müller, Ferdinand Kauer, Adolf Müller and Franz von Suppé.
So much hot air. So little attention to first principles. Marla, you go girl!
This is not about speculators getting rich, although that always warms the cockles of my heart. It's about price discovery and free markets.
Gekko did a nice piece complaining bitterly that he didn't know the true price of anything. That's exactly right. Whether it is commercial real estate, a gallon of milk, or interest rates everything is micro-managed by the Societ Central planners in DC. This shit has to end or the free world will.
Think about how much better the world might be if there were a convenient way to short California real estate, or BC real estate. Shorting won't prevent bubbles, but it helps identify problems. It creates incentives to correct pricing and get capital moving in the right directions. As Ayn Rand so wonderfully explained, ideas have consequences.
“Wounded animals, particularly those of the political persuasion, can be the most dangerous and collateral damaging beasts on the planet.” --------- If this is original it is a profound observation. If this is not original, thanks for including a profound observation.
That was nice, wasn't it?
Marla is the one and only. So anything coming from Marla must be original, even if it's a repeat. :>)
Did any one notice?
Now that Marla is busy posting and ripping commenters to shreds... CAPTCHA is all fucked up again...
Who's manning the CAPTCHA server, ma'am?
Just askin'...
Someone left their post when the world is ending? Shocking!
welcome to the planning central scrutinizer committee. All speculators, dissidents and free thinkers must be punished cause everything is their fault and not ours. One has got to be careful what he (she) wishes for or else, else someone else will start wishing for them.