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Ouch that really hurts!
And then Wiley Coyote... thinking he has survived his impact... looks up and sees the Road Runner pushing a boulder off the cliff above him.
Cast:
Wiley Coyote = America
Road Runner = China
Next panel: Truck bursts into flame.
News Release from the fed, treasury & .Gov.:
"the economy has had a minor fender-bender, but nothing a few hundred billion can't fix"
Don't worry, the damage estimates from the crash were better than expected.
I see a $4,500 cash for clunkers rebate in that truck owner's future.
Better make that $4,500,000,000,000
Pete
Also, if the Yankees make the playoffs, it is more likely that they could win the World Series... unless, of course, they lose in an
can not compete with the vast amounts of money being used to influence decisions. recommended.. good links my newest bookmarked finance website
Give GS a few trillion more, they can fix it.
According to Soros we have seen the bottom..but then again, he is the bottom..
he should know; he practically runs the country
Um... yeah. But where does that leave Acorn? I think all "blog warriors" are contractually required to mention scary squirrel food and "community organizers" somewhere in your Kooky Konspiracy Klaims.
I think all "blog warriors" are contractually required to mention scary squirrel food and "community organizers" somewhere in your Kooky Konspiracy Klaims.
did you just had a Freudian slip with the KKK writing. as i said before mentioning the word conspiracy when there is an abundance of evidence to make some claim a fact, is itself a proof of your IQ being somewhere in between 30-75. Because you are probably the type of guy/girl who would said during the Galileo trial " Burn the infidel, it is a conspiracy that the Earth is not flat and that the Sun does not revolve around it, BURN HIM " Times are maybe changing, but human stupidity is not.
CB, take your meds. It's late in London.
now, i could be a fucking jerk and spin this medication thing and make you not come back to this site for a long long long time; but I'm not going to do it, so have fun poking me around, but remember, when you step over that abstract line make sure to either change your user name or post as Anon. but until then fire away
Okay. How about "The Assassination of Julius Caesar"? Signed, Anon.
great retort.
to the humans you describe, something is only a fact or from a credible source if it is presented on fox, cnn or msnbc.
people who do not espouse dissent for really logical reasons and instead talk about ridiculous right wing crap in the same breath while they're holding a sign that says 'end the fed' aren't doing anything but making us rational folks look like we hang out with loonies. this is what makes me so mad about fox news and the national review etc. they say the right theses from time to time, but their evidence and argumentation makes the rest of us who wouldn't dream of juxtaposing St Peter with the cost of healthcare look like a bunch of idiots. they're giving straw men by the cartload to the guys with pitchforks and torches.
Yeh those darn racists, always holding adulation for Calypso Louis Farrakook or Adhamenajad; or mentioning how “clean and articulate” an ‘african-american’ gent is………oh oops, confused racists with your Prez and VP, sincere apologies
you got that right!
I asked Marla that, she said "Money never sleeps, pal."
Tyler is clearly a virus that grew within one of Goldman's HFT servers. Therefore he can work 24 hrs a day (except during defrags, but who does those anymore?). He became self aware somewhere between Terminator II and III. If Neo saw him, all he would say is "whoa".
The greatest trick the Devil ever pulled was convincing the world he didn't exist
ok ok ; i needed to re-formulate that sentence; The greatest trick HFT ever pulled on investors was to convinced them he was here to help them.
just kidding of course; but it made a lot more sense in my head :D
yes; i think i will go and change my avatar; it should write corporatism
but you do look like tim robbins
Tim Robbins is almost as insane as Sean Penn.
That depends on which one of me you talk to.
hilarious +1
thanks, cheeky
i forgot that quote from grandma walton.
TD can't sleep. Go see the movie...
TD aka RobotBlogger
... edit, comment removed wrong reply button.
Andy, I started reading in March. His output is staggering. My guess is 100 hours give or take a couple. I both admire and respect (more than words can express) what he has accomplished in such a short period of time.
Tyler is clearly a man with and on a mission.
so do i, (without giving too much away). hence the admiration and respect.
i am quite prepared to accept that "tyler" is
a composite or a shared pseudonym....
So is "tim knight" from soh, and "molecool" over at evil speculator, and "atilla" from xtrends just to name a few. They're all from the same crooked aXX consortium, whoever the fcuk they are. Wake up and smell the coffee folks! I'd be willing to bet that they're all just minions of geithner/paulson and friends. And whichever way you wanna slice it, the list of fresh "new" blogs launched by the same dirtbags is always growing, so they can hide behind the curtain while they steal your money. How's that for ya "tyler"?
Ouch. OhMy!
There's another truck coming over the cliff and its going to land on that one. Its cargo is marked Alt-A and sub-p
Not much sub-p left AFAIK. I think it's more like Alt-A and... Prime.
What's next is Alt-A and Option ARM, of those some are prime, but most are not..
Sorry but the scene from The Golden Child where eddy murphy is walking on the poles and he's saying you're just making it look like there's no floor in here. There's a floor. And he flips the quarter and listens and never hears anything and starts screaming. There's no floor in here!!! Of course that's not what is really happening. What's really happening is the quarter is turning into a dime and then a nickle and then a penny and then turns to nothing.
http://dailyreckoning.com/the-bounce-phase-of-the-economic-depression/
http://dailyreckoning.com/land-of-the-lost-decades/
Thanks for the great laugh, really needed it.
A break from the stats and some on the ground stuff:
Cold called 15 or so small businesses in an industrial park today, an observation that jumped out at me: No receptionists.
Last week cold called 3 largeish class A CBRE buildings: ghost town. Less than half full and the only hangers-on seem to be day-trading shops, lawyers and one pesky building manager type who tried to run me off (no soliciting in the building..lol..haha), I think everyone that was still there was glad to see me, kind of a novelty for them to see a human walk through the door.
One bright spot of activity: a bustling floor of skip tracers in a semi-seedy office building anchored by a BoFA branch.
I read this REIT bullshit and the "recovery" bullshit and know there are some very tall tales being told. I doubt that many Class A commercial office space operators are even covering maintenance and taxes, forget the debt.
Hey, don't believe me... Go look!
Did you Know?
The red pill tastes like strawberry and the blue pill like raspberry.
Go figure.
While this is presented as a joke, it is not too far from the reality of what some mainstream economists are trying to foist on the desperate-for-good-news marketplace. In an Op-Ed a few weeks ago in the WSJ, Alan Blinder argued that the very fact that certain economic activity stops declining means that GDP looks better. For example, he writes that if housing had been falling ten percent in a quarter, and that it has a 25% impact on GDP, then what had been a -2.5% fall in GDP suddenly becomes a plus (because the decline has stopped). In other words, if housing had a 0% change Q-on-Q, GDP numbers would show a plus 2.5% rate of growth because the decline would no longer have any impact.
Putting aside the fact that nothing exists in a vacuum, and even forgetting for a moment that not all economic activity is synchronized as to production timing, one can take Blinder's "argument" and reduce it to the ridiculous. Let us assume---as economists are wont to do---that Swine Flu wipes out every single man, woman, and child in the US. Economic activity would stop, or, to use Blinder's argument, its rate of decline would go to zero. The quarter AFTER the quarter where everyone died would show no additional decline in activity. Using Blinder's "logic", GDP growth would have to absolutely explode.
Alan Blinder previously served as the Vice-Chairman of the Board of Governors of the Federal Reserve.
i claim we're being invaded by morons. I'm slack-jawed by the positions some of these morons have held...I mean really, vice-chairman of the Fed board of governors?
Under the bottom of the truck, there is a buried WMD (Whitehouse Man of Default) waiting to implode. Until you see Brown's bottom, you ain't see nothing yet!
does someone have a good book recommendation; I'm trying to get a hold on something different to read than i usually read and i cant think of anything; any recommendations
Go read Graham's security analysis, that is a secret cure for insomnia.
lol i don't think that will neutralize 12 red bulls, and app. a gallon of coffee( black, no sugar, no cream ). its 8.30 am here and its been almost 2 days since i slept.
How about why Girls and Weird
http://www.amazon.com/Why-Girls-Are-Weird-Novel/dp/0743469801
Empire of Illusion by
Chris Hedges
Try Illuminati 666 by William Sutton (non fiction).
Synopsis: Adam Weishapt and Rothchilds (Illuminati)
unleash communism on the world in the 1800's. They are not finished yet...
http://www.amazon.com/Anger-Trap-Yourself-Frustrations-Sabotage/dp/0787968803/ref=sr_1_1?ie=UTF8&s=books&qid=1250053135&sr=8-1
Art of the Infinite
extraordinary popular delusions and madness of crowds
Atlas Shrugged. Or just pick up a copy of any American newspaper if you want the tale told from the villian's vantage point.
Witness by Whittacker Chambers
Army at Dawn by Rick Atkinson
Wind, Sand and Stars by St. Exbaurry
West with the Wind by Markham (?Hemingway)
Joan of Arc by Marc Twain
Something way different: "Quantum Theory of Tunneling". Few days ago it put me to sleep in less than 15 minutes. At least captcha will be a child's play after that.
You'd enjoy anything by Michael Savage.
Winston Wolf.
try 'The Population Bomb' by Dr. Paul R Ehrlich
A thriller? Fool's Gold
A Mystery? Catastrophy
Adult Contemporary? Obamacare
Anything from the Navy reading list.
What do you usually read? Want some good "hard" sci-fi? I can highly recommend "Empire from the Ashes" by David Weber.
Compendium of the three "Dahak" novels - brilliant!
Cast:
Wiley Coyote = America
Road Runner = China
that't true
can not compete with the vast amounts of money being used to influence decisions. recommended.. good links my newest bookmarked finance website
"Where you are now, you have no idea what the bottom looks like."
So who's responsible for where the truck went off the cliff?
The banker who holds the note...
As we all now know, there is no fault, only a cost. Those responsible for this crash will be made more than whole, and the cost will be borne by 8) The Rest of Us.
8. None of the above....the guy that keeps harping that the gov. must take over all maintainence and we MUST do it now (at the cost of 3 or 4 trillion $) or the whole world will fall apart!!
Cheeky - check out Middlesex by Jeffrey Eugenides. Not real current but perfect for these times. Interesting book if you haven't read it yet.
Remember seeing two smoking skyscrapers struck unbelievably by aircraft and thinking, "They'll stand!". Retrofitting needed surely, but they'll hold.
Then they fell, first one and moments later the other.
Like the East and the West.
Asian Crisis & Russian Crisis, Then 2008 Crash.
They'll heal. We're out and it's over. Some damage, but sustainable and recoverable.
I'll be wrong twice.
Does anyone realize how quickly we could recede to the stone age or dark age?
Cut the supply line to energy or food.
Black swan shaped like a huge fiery flying serpent, with no rod to heal and protect. (See the Neshtuan)
http://en.wikipedia.org/wiki/Nehushtan
The Gods That Failed
http://www.amazon.com/Gods-that-Failed-Markets-Future/dp/1568586027/ref=sr_1_1?ie=UTF8&qid=1250051456&sr=8-1
Shows the disastrous effects of financialisation of the economy and globalisation and how it was foisted on us
Another good one is Flat Earth News which explains exactly why modern journalism is so terrible and the news is now worthless
http://www.amazon.com/Flat-Earth-News-Award-Winning-Distortion/dp/0099512688/ref=sr_1_1?ie=UTF8&qid=1250051705&sr=8-1
thank you guys/girls for the recommended read. now i need to send some money to Jeff Bezos
could we get a nice flow chart of how the fed is or may be doing stealth monitaztion?
This is my new desktop picture. Thanks TD
Truck now gets 0 miles per gallon. Qualifies for maximum allowance in the cash for clunkers program. Positive news.
The Road to Serfdom by F.V. Hayek - unbeatable
hear hear!!
The bear is here. Here is the bear.
Rule 34?
Rule 36.
24.2 billion dollars down the toilet and it's only tuesday. This thing is not accelerating it's settling down. Thank god this little mild recession is over.
http://www.321gold.com/fed/temp_bank_res.html
For a brief history of economic bubbles and a preview of our future (i.e. the chapter on Japan's lost decades)
Devil Take the Hindmost: A History of Financial Speculation by Edward Chancellor
http://www.amazon.com/Devil-Take-Hindmost-Financial-Speculation/dp/04522...
Jim Sinclair has been commissioning these cartoon images of economic themes for the longest time now...and they keep getting better and better
"Evidently, what we are witnessing is a transition from the lowest point of decline of industry, from the lowest point of the industrial crisis, to a depression—not an ordinary depression, but a depression of a special kind, which does not lead to a new upswing and flourishing of industry, but which, on the other hand, does not force industry back to the lowest point of decline."
J.V.Stalin 'Report to the Seventeenth Party Congress' 1934
http://www.marxists.org/reference/archive/stalin/works/1934/01/26.htm
I’m a novice on most topics here, but would like to say the site has opened my eyes to a number of issues as my anger grows at misguided government action and politicking. This is a little off topic but there are a few things that puzzle me (just 3 of many), if anybody has a min to answer?
1) Statements such as ‘investment bank profits are good for the economy’. I appreciate that retail lending to thriving businesses/consumers may be good (so long as at fair rates and paid back) but in general if the investment banking arms are making money via trading, debt/equity issuance surely somebody else has to be losing money – either via zero-sum game on trades and/or fees to issuers which are just passed on. So during economic malaise how are huge investment bank profits a good thing (net) for the economy?
2) Inflation. Why is there a general 2-3% inflation rate target. Wouldn’t be better to simply target 0%. The only reasons I can gather for targeting consistent increases are either favouring debt and/or abject fears of deflation (e.g. japan)?
3) Every week approx 500k people make an initial jobless claim, yet on a monthly basis the headline NFP number is circa 300-500k. Where are the additional 1.5m? Is this simply a case of those who weren’t working before suddenly deciding they want a job too (i.e. they didn’t have a job to begin with). I’m clearly missing something significant as there’s a huge perpetual difference.
Thanks
I'm flagging you, flag@whitehouse.gov for asking questions which make sense.
We live in a society that is deluded and high on green shoots. No more questions, simply swallow the bullcrap hype and shop at walmart.
My own uneducated opinions only.
1. You are correct in your assessment. The reason you are told by the media that its a good thing is because the media is owned by the same people who benefit from the system as it stands. Unless you are somehow still a believer in trickle down economics, in which case having more and more of the nations wealth diverted to a tiny non-productive elite is the route to lasting prosperity for a nation
2. The reason for not having a target of zero is that certain prices are "sticky", in particular wages. So having a little bit of inflation allows price redistribution without the difficulty of forcing wage cuts, which are felt a lot more by people than their wages rising by less than inflation. Having too high an inflation rate is supposed to cause misallocation of capital into things that are protected against inflation, such as real assets and commodities. The theory is fine, but you may have noticed a succession of asset bubbles and this is because the government has messed around with the inflation figures to such an extent that they're only real purpose now is to keep down wage demands and COL adjustments. Which is a big part of the reason that despite real living standards supposedly rising, personal debt rose enormously to cover what was in reality declining real wages.
3. The weekly figure is a monthly rate, not a number of claims
The purpose of intentional inflation is to steal real wealth from people while giving them the impression that they're getting ahead (wow - I have more currency than I used to!).
I would think that monetary inflation should be the same percentage as people entering the work force though it never is. Without inflation, fractional reserve lending would possibly fail because there always has to be a growing amount of money in circulation to pay off the interest... See Money as Debt (youtube) for a basic explanation. "The Money Masters" by Bill Still is great but 3 hours long.
Here are some other questions worth asking Did you really believe that you could live, in the long term, on borrowed money? "Who actually claimed that such a large nation doesn't need an industrial base? "Where are the men and women who made us believe that a negative balance of trade is a sigh of strength? "Why did no one on Wall Street sound the alarm bell when the U.S. dollar became eroded and lost intrinsic value for such a prolonged period of time? "Is it possible that no one could have noticed a country that was once the world's biggest lender selling off its assets to others? "How could the entrenchment of economic inequality in a democratic nation have been tolerated for so long?
"What happed to the upward mobility that was once this country's trademark? "And, last but not least: why did democracy, which is supposed to react more quickly to malfunctions than other forms of government, fail so miserably?" (From the War for Wealth by Gabor Steinhart)
If you read a book, Shock Doctrine, by Naomi Klein, it answers almost all your questions. It's the Milton Friedman Chicago school called disaster capitalism. A play book followed ever since Ronald Reagan put his hand on the bible. It not only answers your questions, but clarifies most of the world news stories. Quite remarkable and all in one place.
Remember the scene from Groundhog Day with Bill Murray where he drives the pickup over the cliff? Chris Elliot looks down at the flattened truck and says "He might be alright". Then the truck bursts into flames. Chris Elliot has the classic line "Well, probably not now".
This scene is a perfect metaphor for the economy. We're just waiting for it to burst into flames, and then everyone will finally say (about the recovery) "Well, probably not now"
#33627
I also am a novice in most of the (serious) topics discussed here. You might find a Youtube video, How Money Works, useful in answering your question regarding the purpose of deliberate inflation.
Cheers
cb
gustav le bon: psychologie des foules, 1911
see dudes, whatever you speculate about TD - whether he is on himself or he is a crowd - it is a fact, that the website offers good quality research, excellent contrarian opinions, perspectives and news on off-beat yet important issues.
There is a clear value addition.
And a lot of fun at the expense of bulls. who should not mind, at least (for) as long as they are making money.
And from different styles of writing, I do not think TD is a crowd.
~Sumi
Looks like Roubini has turned bullish. Has even significantly reduced his odds for a double dip.
Its still amazing to me that people think you can throw $14 trillion at the problem and come out the other side unscathed.
Here's a nice little book for you:
Addicted to War - Why the US can't kick Militarism
http://books.google.com/books?id=cHpvLAe1_sYC&printsec=frontcover&dq=%22...
A reckoning for this country is long over due imo
Roubini has been suborned by Summers et al. Everyman has his price, they found his. Reversion to the mean defies his sudden "optimistic exuberance". {P/P+I) KABOOM
http://www.youtube.com/watch?v=0F7SCbrU5sQ
The tree of liberty must be refreshed with the blood of tyrants and patriots from time to time. It is its natural manure.
Thomas Jefferson