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It Is A Strange World We Inhabit
Seth Klarman sums up everything:
"The market roller coaster of 2012 continues. Speedy ascents. Sudden plummets. Unexpected twists and turns. Gut-wrenching volatility, only to end up where you began."
"It is a strange world we inhabit. One where economies remain extremely depressed yet almost no companies go bankrupt, while low interest rates encourage holders of capital to speculate. One where global turmoil mounts while the world passively watches. One where nearly every member of Congress will insist that we need to rein in deficit spending, while collectively Congress accomplishes virtually nothing. It would be absurdly funny if it weren’t so incredibly tragic."
Source: Baupost Q2 Letter
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In the land of the blind, the one-eyed is king
the one-eyed man is king Fixed it.
I think mongo left a window for a queen king.
In the land of the one eyed monster... [insert tag line here]...
Fight Club is king.
it is only strange if you belive that you are somehow normal and normal is what the world should be.
Truth is much more stark. That's why we have religion, politics, intellectuals, entertainers to brainwash us into believing that somehow our lives are normal and perhaps even good.
well sorry to disappoint...
This is how the US government worked almost 100 years ago:
http://www.youtube.com/watch?v=GMjGClS0ztc
This is how the most powerful government works today:
http://www.youtube.com/watch?v=xe1d32I_wUY
1939? HollywoodJew Frank Capra? Aside from a few truthtellers like Lindbergh, it was as corrupt then as it is now.
When Clinton was president, the one-eyed trouser snake was king.
No one expects the one-eyed viper!
called long soy over corn later in the year, chop up to 13000+, long oil @ 80, short oil at 92.50, long oil at 87, long gold silver pattern playing, Short KCG, lol. Long vix short Tvix. One eyed monsters win. Lookin for uvxy reverse split maybe?
MFG went bankrupt
and?
Who holds your money for you Muppet Cakes?
She take my money when I'm in need
Yeah she's a trifling friend indeed
Oh she's a gold digger way over town
That dig's on me
(Kanye West)
my money is diversified across 3 clearing firms and 4 brokerages. diversify bitches- zero hedge.
<--- so mad
Doesn't matter. It's as if Charles realy is in charge....
yea yea, all you technical stock traders lost money cause the stupid game you were playing could be played 10X better by bots. Keep telling yourself fundamentals don't matter. Meanwhile I'll be buying BDSI @ 2 bucks and Shorting Znga from 13 and fatboy from 31.
"Charlie don't surf"!
...all your electronic fiats are belong to us...
"max2205 MFG went bankrupt"
How Is Jon Corzine Doing? Ask Him Yourself
REVEALED: CORZINE’S MF GLOBAL WAS CLIENT OF ERIC HOLDER’S LAW FIRM
VP Biden says he called Jon Corzine for advice
Not enough has been said about Covington & Burling or Morrison & Foerester.
Pretty apparent when law makers can slip into a different role as law enforcer simply by changing hats...and then so easily slide back into the abyss of law breaker that something is deeply flawed.
There was a time (in the not to distant past) the words "conflict of interest" meant something.
Good one. Nice reminder of the details.
nmewn
"Not enough has been said about Covington & Burling or Morrison & Foerester."
Do you know that same firm was around for the Pecora Investigations
The Justice Department’s MF Global Scandal Dates to 1932
REVEALED: CORZINE’S MF GLOBAL WAS CLIENT OF ERIC HOLDER’S LAW FIRM
Remember this?
BREAKING: Pelosi Calls For Pecora CommissionWhat we got instead from Dear Madam
Wall Street’s Collapse To Be Mystery Forever
and this
CONVICTED: Bush 1300+, Clinton 1000+, Obama 0.0 (+/-)
Odysseus is bukaked.
Indeed, 'tis "a strange world" out there. My neighbor's son graduated with a BA in basket weaving and already has 6 job offers -- so it ain't so bad:
1. McD's;
2. Sam Walton's enterprise, Walmart;
3. Wendy's;
4. the Colonel's restaurant;
5. Popeye's; and, finally,
6. the Dollar Store.
He's not worried about his $36,750 gubberment loans... he says he expects Ob*ma will take care of it.
Strange world these days.....strange.....
must be in arizona.
elsewhere, those jobs go to illegals for cash.
Maybe he meant "the brown eye." he is Mongo after all...
In the land of the blind, the Queen King slays the one eyed trouser serpent.
The age of men is over, the time of the bankster has come
Time to leave Middle Earth.
It's so fucking funny, i read on daily bail that the DOJ during:
Bush administration it prosecuted: 1,300
Clinton administration it prosecuted: 1,000
Obama administration it prosecuted: Nada
Louis XIV, Bitchez
they're all snakes, which would make the one-eyed snake king... that matches the empirical evidence precisely
The one eyed monk is king.
"In the last days men will surround themselves with teachers who tickle their ears with lies."
Leaders lie continually and the people love the lies, so much more fun than the truth......until it all comes crashing in.
nothing different this time.
Bullish
Peak cognative dissonance. He does realize that volitility is a day traders wet dream right?
peak hysteresis
Peak obedience.
but still not quite peak rape...
No, that nuance escaped Klarman's unsophisticated eye.
You rang?
The funny thing is that Cognitive Dissonance can never peak, just die a horrible death at the hands of reality or mental breakdown.......whichever comes first.
"Does not compute!" ***BOOM***
and the toothless carney running the Splatterhorn ride and looking up your moms dress is named Ben Shalom. Let me off.
Members of congress, and the administration, swim daily in the Sea of Knowledge, emerging completely dry...
They can't think outside their box and their box is empty.
And what else...Can't wait to vote in the next CRIMINAL!
The standard $8 million presidential book deal may not be worth the bother for one who already makes that much in five months, so either the price goes way up or we get a ghost-written instant number one that even he will not have read.
Perhaps it's not strange at all, just new to the West. The Soviet Union managed to do such things for 70 years before finally collapsing. It's what happens when the economy is all fake and everything is manipulated and manufactured.
"The worst part of living under communism is living a lie." -- Alexandr Solzhenitsyn
We live in a much faster world. Instead of a Soviet-style 5-year plan (which is always surpassed), we have 100-day plans (watch for it come Jan. 20). At this rate, a 70-year collapse should only take 18.26 years... Kondratiev, eat your heart out.
There is always a reason that it is different this time.
Excellent point. Certainly explains the daily quickening of death rattles.
The difference is, in the U.S. workers still need to show up sober to keep their jobs.
them ain't workers!
workers need to show up sober enuf to start their jobs and the future's so bright, we all wear shades
h/t to wayne&garth in basement
Yeah, but what are you going to do...
Peak complacency.
Yeah, But what are you going to do? Get off your asses..........
http://abcnews.go.com/WNT/video/oakland-strike-threatens-shut-city-14869817
You people are amazing. You sit and complain at your keyboards. "No one will do anything but complain." All the while, for the past year, the Americans are out there, getting beaten and arrested.
You baby boomers are the cause of this mess. Yes, it happened on YOUR WATCH. Get out of your comfort zone and stop complaining about other people "doing nothing."
50000 people marched across a goddam bridge.
"The money will go into channels which will carry it, not the most productive, but to the most corrupt,. By the standards of our time , the man who has the least to offer is the man who wins. That money will vanish in projects such as the San Sebastian Mines" -Francisco d'Anconia
"Rearden coud understand digust for any one thing, and he could fight that thing with the healthy indignation of knowing that it did not belong in the world, but this was new to him- this feeling that the world was a loathsome place where he did not want to belong [...] man's life was purposeful motion; what was the state of a being to whom purpose and motion were denied , a being held in chains but left to breathe and to see all the magnificence of the possibilities he could have reached, left to scream : WHY ? and to be shown the muzzle of a gun as sole explanation..."
Excerpts from Atlas Shrugged.
The US election is proving without a shadow of a doubt that the time has come to discard hope for the sheeps to take meaningful action before the collapse and the motor of the world will have to be stopped. Ron Paul was the last stop before failure.
Appropriate Ayn Rand quote...
The Occuppy movement is trying to make people aware of the situation, but apparently to no avail. For those of you who speak German, here's an excellent song by Reinhard May called "Das Narrenschiff": http://www.youtube.com/watch?v=8Lz_qPvKCsg
Refrain:
Der Steuermann lügt, der Kapitän ist betrunken, / der Maschinist in dumpfe Lethargie versunken, /die Mannschaftleuter meineigene Halunken, / der Funker zu feige SOS zu Funken / Klbautermann führt das Narrenschiff / volle Fahrt voraus -- und Kurs aufs Riff!"
The helmsman lies, the captain is drunk / the engenee is in dank lethargy /the crew a bunch of scheming hooligans / the radio operator too coward to send an SOS / hobgoblin leads the ship of fools / full speed ahead, towatrds the reef!
Like Shaw once warned the English:
“The captain is in his bunk, drinking bottled ditchwater; and the crew is gambling in the forecastle. She will strike and sink and split. Do you think the laws of God will be suspended in favor of England because you were born in it?”
And when one is discussing American exceptionalism, one must not forget her high crimes.
"There's no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren't enough criminals one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws. Who wants a nation of law-abiding citizens? What's there in that for anyone?
But just pass the kind of laws that can neither be observed nor enforced or objectively interpreted – and you create a nation of law-breakers – and then you cash in on guilt. Now that's the system, Mr. Reardon, that's the game, and once you understand it, you'll be much easier to deal with."
Ayn Rand - "Atlas Shrugged"
Jamie Dimon: "Of course it's all my money. I paid Congress for it, fair and square."
From the Book of Imaginary Quotes We Never Heard (Only because we are not flys on walls)
The glass is half bull.
And the other half is empty. Nice.
Clueless Americans are living in a Potemkin villiage as slaves while on the hilltop, the Oligarchs amusedly look down from their mansions. "Knowledge Makes A Man Unfit To Be A Slave" - Frederick Douglass
i'm so fuked up i'm @ 101 potemkin wondering what the po'folk r doin...
i think the oligarchs start another block up btw and they are always slaving away one would hope b/c the hood would go to hell in a handbasket fast if they weren't keeping the checks in the mail and the working serfs employed...
...or in school of course...
all thanks to "marked to market accounting"- or lack thereof
why should companies (banks) have to value the assets they hold at today's value when they can inflate their balance sheet with the original purchase price of the assets , which in turn makes financial analysis all but impossible, which further skews the price of any publicly traded company's share price
what would happen if all the TBTF banks were forced at open of business tomorrow to fairly value all the assets they hold, including those held off balance sheet as level II and III assets ? would the stock market crash ? would the fed print even more money to prop the whole mess back up or dump more money into the big banks to prop the stock market up?
the plunge protection team would have a huge task on its hands all the way to the election.
Apparently if JPM did a mark to market today, its net asset value would be -16 billion.
"Jamie Dimon just admitted to the world that JPM is mis-marking assets to the tune of $150 billion."
http://dailybail.com/home/jpms-150-billion-fdic-reality-adjustment-jamie...
we all know and love jamie for the cuff links, but here he seems to be channeling jrSoprano, possibly, like uncleJunior himself, as a legal defense
maybe he has junior's atty?
I went to the country just the other day
To see my Uncle Bill and sorta pass the time away
I asked him how he'd been since at last I'd passed his way
He rubbed his chin and here's what he had to say
My wife's been sick and the young'ns too and I'm durn near down with the flu
The cow's gone dry and the hens won't lay but we're still a livin' so everything's okay
The hogs took the cholera and they've all done died
The bees got mad and they left the hive
The weevils got the corn and the rain rotted the hay
But we're still a livin' so everything's okay
The porch rotted down that's more expense
The durned old mule he tore down the fence
The mortage is due and I can't pay but we're still a livin' so everything's okay
The cow broke in the field and ate up the beans
The durn rabbits they got the turnip greens
And my mainlaw just moved in to stay but we're still a livin' so everything's okay
My land's so poor so hard and yeller
You have to sit on a sack of fertilizer to raise an umbrella
And it rains out here nearly every day but we're still a livin' so everything's okay
The well's gone dry and I have to tote the water
Up from the spring about a mile and a quarter
My helper he quit for lack of pay but we're still a livin' so everything's okay
The house it leaks it needs a new top when it rains it wets everything we got
The chimney fell down just the other day but we're still a livin' so everything's okay
The corn meals gone and the meat's run out
Got nothin' to kill to put in the smokehouse
The preacher's comin' sunday - to spend the day
But - we're still a-livin' - so ever'thing's okay.
The canned stuff's spoiled - else the jar's got broke
And all we got left is one old billy goat
We're gonna have a new baby about the first of may
But - we're still a-livin' - so ever'thing's okay.
My crop it rotted - in the ground
I asked for another loan but the banker turned me down
But - we're still a-livin' and we're prayin' for better days
So - after all, ever'thing's in purty good shape.
"Honey we'll be alright"
Bruce Springsteen "Jack of All Trades"
http://www.youtube.com/watch?v=OtGb5MPCMlg
Is it wrong if I find it extremely funny anyway?
Go ask Alice
You think she'll know?
Jefferson Airplane for all us ZH Bitchez. Sing it Gracie:
One pill makes you larger
And one pill makes you small
And the ones that mother gives you
Don't do anything at all
Go ask Alice
When she’s ten feet tall
And if you go chasing rabbits
And you know you're going to fall
Tell them a hookah smoking caterpillar has given you the call
Call Alice
When she was just small
When the men on the chess board
get up and tell you where to go
And you just had some kind of mushroom
And your mind is moving slow
Go ask Alice
I think she'll know
When logic and proportion
Have fallen sloppy dead
And the white knight is talking backwards
And the Red Queen's "Off with her head!"
Remember what the dormouse said
Feed your head
Feed your head
Ms.,
My head is well fed. I think TPTB could use a little time with the catipiller.
Better living through chemistry bitches.
These are those!
You losers keep looking behind ya. See, that's just what losers do.
Looking ahead, I'm with our global thinking president-FOWARD!!!!............................Into the abyss
He didn't see the abyss, coz he's looking thru a pot hole with one-eye.
And quite obvious he is in CD's mental breakdown stage...
Feed the head, soon his one eye cannot see?
Congress should be talking about how to default on the debt - not reigning in spending. Bankster puppet M'fers.
What is so hilarious is that the Welfare State as we know it is dead whatever happens. And that was the lie that sucked in the suckers, made illiterate beggars out of men, and killed the Republic.
Something for nothing is the sweetest poison in the world when first imbibed.
Everyone in control is stealing too much money ...hogs at the trough ...None of these wants to pause for fear of losing a few dollars.
Do the sheeple want to dig the pit to dispose of the pigs or is that effort worth not enough money?
The times and their signs. May these times never end, because the signs point elsewhere...
Is it not safe to say, the leaders have accepted the mark of the beast and what the world is now witnessing is the sealing of it? The coming months shall be quite interesting in this regard, especially after Iran. What will the market look like? Lol.
http://www.biblegateway.com/passage/?search=2+Thessalonians+2%3A1-12%2CRevelation+17-18&version=KJV
"Let no man deceive you by any means."
Well, sound advice but most around me want to live a lie.
"That they all might be damned who believed not the truth, but had pleasure in unrighteousness."
Ah, ok then. :)
Haven't seen you in a while. I'm not going to die now am I?
Gone hiding since this report:
Study Finds Cats Are Killing Machines
“Cat predation is one of the reasons why one in three American birds species are in decline,”
http://www.newsmax.com/SciTech/cats-killing-animals-pets/2012/08/08/id/4...
[ How retarded can be science, really? ]
Que sera sera.
http://www.youtube.com/watch?v=xZbKHDPPrrc&feature=related
Pssst! The market doesn't give a damn what any of you think. You do realize that, right?
Nobody cares. Thanks for noticing.
Pssst! The market doesn't exist. You do realize that, right?
Who Is The Market?
Who is the Market? what is she,
That all our swains commend her?
Holy, fair, and wise is she;
The heaven such grace did lend her,
That she might admirèd be.
Is she kind as she is fair?
For beauty lives with kindness.
Love doth to her eyes repair,
To help him of his blindness,
And, being helped, inhabits there.
Then to the Market let us sing,
That the Market is excelling;
She excels each mortal thing
Upon the dull earth dwelling:
To her let us garlands bring.
(Mostly) Shakespeare
the market, funny
Which market you talk about, Sir?
@robochess
Hey, that's a two-way street. You do realize that, right?
robochess - the casino, not the "market". Double sixes?
Perhaps everyone knows it's really all coming to and end and want to keep dancing as long as they can?
Tell a 60 year old 3 time a week golfer with 1.4 mill in his account he is going to have to go back to "work" or that the only reason it is 1.4 million is from printing and watch him piss his pants. The tell the baby boomer the 60's and 70's which he thinks were so are great hold some of the root causes of today's problems. Then watch him call you names because he cannot comprehend what you said and will not admit most of his adult life was just a fraud. Those who do not see will latch onto anything to keep hope alive.
Game theory is perhaps "responsible"?
Everyone is looking at who's gonna blink first and thus are unwilling to take that necessary step out of their little corner.
Everyone is waiting on everyone.
Ofcourse, we know what happens in this scenario. Once it crumbles, it will be lighting fast, swift and brutal.
I really believe people will wake up one morning and will have NOTHING anymore (the final vaporization act).
This is just fucking????
http://www.fredoneverything.net/Love_of_Country.shtml
Love of Country
Seldom Requited
July 23, 2012
I’m trying to understand love of country. It’s hard hoeing. Maybe some things just ain’t understandable. Or maybe it’s ‘cause I’m from West Virginia and don’t have shoes, ‘cause they ain’t any that fits people with twelve toes. How are you supposed to love a country where you can't get shoes?
I’m not even sure there’s any such thing as a country. Mostly my country seems to be a bunch of brigands in Washington who send you tax forms to get money so they can kill people in some place that never did anything to you and you probably don’t know where is. When did I ask them to do that?
It looks to me like a country is just a temporary mood ginned up to get everybody hooting and hollering behind the grenade industry with other people’s money. People just naturally like to get together in packs and kill each other, or beat each other full of concussions like in football, or have gangs and zip guns and ball bats and smack hell out of each other. A country’s just a teenage gang with older teenagers and better zip guns, I reckon. All you got to do is get them riled up about something that probably don’t exist. You send the dumb ones to get killed and the smart ones cash the checks at home. That’s what a country is.
Think about it. Isn’t it true? When the gummint wants to go kill folks we mostly never heard of, in Halfghanistan or Eye Rack this week anyway, it acts like the country is one solid thing, a big happy family, and has to think the same things. If the gummint hates Halfghans, or wants their oil or something, we all got to hate them because we ought to love our country. It makes as much sense as lug nuts on a birthday cake.
I can’t see how there’s anything special about a country. It’s just a big herd full of little herds that hate each other and want to swindle each other and pick everybody’s pockets and burgle their houses if they can’t actually steal them. I mean, the blacks hate the whites and beat them lopsided so they can take pictures, and half the whites hate blacks but don’t dare say so, and want to run Mieesicans out of the country, and the Messicans hate the blacks and the whites that want to run them back to Messico, and everybody hates Moslems, whatever one of those is. Maybe that’s a country. It looks more like a bar fight waiting to happen.
What’s funny is how people talk about how they love their country, but don’t act like it. I mean, there ain’t nothing more patriotic than a businessman who thinks he can make money at it. The newspaper in Charlestown says the gummint spends a trillion dollars on wars every year, either fighting them or getting ready or looking for new ones. I don’t know how much a trillion is. I do know it never sees the inside of a soldier’s pockets.
No. All they get is stumps and blinded and dead. The businessmen don’t want them to win, because then the gummint wouldn’t buy as many helicopters to get shot down and then buy more. But businessmen don’t want the troops to lose either, for exactly the same reason. Nobody in his right mind stops a going concern.
We got two kinds of businessman, and they both love their country the way a bank robber loves a bank. One kind wants to bring the whole country of Messico to America so they can pay them twelve cents an hour under the table and get rich. The other wants to send all America’s factories to China where they can pay twelve cents an hour and get rich. Both kinds drip patriotism like oil from a 1964 Harley. If anyone loved me like businessmen love their country, I’d go into hiding.
Then we’ve got the military that loves its country something crazy. In West Virginia I noticed that ticks love cows. (Why did I think of that, I wonder?) In Washington you’ve got whole packs of colonels strutting around like barnyard roosters, but with less brains, and saying that hippies and reporters need to support the Pentagon’s troops in killing Halfghans. It’s so they can show how much they love their country.
See, colonels think they are the country, and nobody but them gets to decide what the country wants. But what if I think I’m the country as much as some useless tax-sucking colonel with colored gewgaws stuck on his coat jacket like a stamp collection? And what if I don’t want to bomb anybody that I don’t know, just to make money for bomb factories?
I didn’t know that Lockheed-Martin was a country. I do now.
I got my doubts about some other patriots too. Suppose you went up north to Wall Street and asked those Yankee tape worms if they loved their country. Reckon they’d say yes? Of course they would. Why, they love their country like a hog loves cornbread. Of course, the hog don’t care whose cornbread.
Thing is, the tapeworms, along with the other part of the gummint that stays in Washington, just busted the economy and left half of us with no house. If that ain’t patriotism, I don’t know what might be. And they didn’t even say they was sorry, probably because they were too busy hiding the money in off-shore accounts. Somehow, patriotism usually seems to have dollar signs attached.
A famous fraud said, “Ask not what your country can do for you,” but that’s just what everybody does ask. Best I can tell, lots of folk love the United States till their gums bleed, but don’t want to do anything for it except run it broke. Congress takes bribes the way a Las Vegas slot machine eats quarters. Big Pharma swindles the public like a riverboat gambler with three decks of aces in his pockets. The Pentagon ain’t nothing but Section Eight housing with five walls, so’s you can tell whoever built it wasn’t paying attention.
I guess with lots of practice I might learn to love hookworm, or leprosy, or even rap music like they have on the radio out of Wheeling—though that may be stretching it. But I can’t go lower. I got my limits.
Fred never gave much quarter to these scoundrels - rightly so.
I've always enjoyed Fred's rants.
I've come to the same conclusion that he and Carlin have. The most we can do is sit back and watch it, and not try to get too emotionally involved.
That must be what the Jewish men said. Did you know Jewish guilt for taking a passive stand is one of the residual affects of the Holocaust?
The problem goes deeper than that because it affects the whole planet, and a human population and economy in deep overshoot.
Good luck trying to save everyone.
Sounds like Wal Street Pro's first cuz.....
Seth Klarman is trying to prevent a tragedy? Wow. That's news.
This verse is about the soon coming Tribulation of the earth and especially about Israel. A few verses before it says (v.18) "your covenant with death shall be disannulled". That covenant is the one Israel makes with the coming Prince, a world dictator. It will be a big mistake. It causes God to begin the Tribulation of 7 years. Although God's plan is to save all of Israel, they must go through yet another horrific period of persecution this time by Antichrist in which 2/3 of all Jews are killed globally. Verse 20 is about the discomfort of Israel. "When the overflowing scourge shall pass through..." is about the gentile armies sacking Jerusalem. Overfowing floods speak of armies. This a strange act because it will be like the Flood of Noah, catastrophic and final, to rid the world of sin in preparation for the Kingdom of God.
You came up with all that shit just from that Biblical quote?
Religion is amazing!
No, in commenting on that verse, I referenced other places in the OT, much of which is about the second coming of Christ. It's called systematic theology because conclusions are built upon other verses; it's very complex and really isn't explainable in a comment section.
Religion is a scurge. Christ condescended to you, to save your soul. All religion is an attempt to work one's way to God, as in New Age.
when the armies get really big like overflowing floods remember noah and go navy?
you spoiled it for us! now we don't want to watch any more! you can go to hell, stiler! no kingdom for you!
translation?
Wailing and the gnashing of teeth.
Reference above: Isa 28: 20-1
During the Beijing Olympics, markets felt a sense of hope. Shortly after the games ended on August 24th, 2008, the toilet bowl could be heard with a great big whoosh!
The computer generated reality which we call the market (or Sylvia) has been lognormally biased or skewed to the right, with CB puts and "tickle" algos passing across thin volume.
Well my sons, Frau Merkel is back from the beach and it looks like summer is soon to be over ...
Jackal-in-chief - "Am I not merciful?"
More American Idle please...
COSTELLO: I want to talk about the unemployment rate in America .
ABBOTT: Good Subject. Terrible Times. It’s 9%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 16%.
COSTELLO: You just said 9%.
ABBOTT: 9% Unemployed.
COSTELLO: Right 9% out of work.
ABBOTT: No, that’s 16%.
COSTELLO: Okay, so it’s 16% unemployed.
ABBOTT: No, that’s 9% .
COSTELLO: WAIT A MINUTE. Is it 9% or 16%?
ABBOTT: 9% are unemployed. 16% are out of work.
COSTELLO: IF you are out of work you are unemployed.
ABBOTT: No, you can’t count the "Out of Work" as the unemployed. You have to look for work to be unemployed.
COSTELLO: BUT THEY ARE OUT OF WORK!!!
ABBOTT: No, you miss my point.
COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work, can’t be counted with those who look for work. It wouldn’t be fair.
COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work. Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you’re off the unemployment rolls, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don’t look for work?
ABBOTT: Absolutely it goes down. That’s how you get to 9%. Otherwise it would be 16%. You don’t want to read about 16% unemployment, do ya?
COSTELLO: That would be frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you’re thinking like an economist.
COSTELLO: I don’t even know what the hell I just said!
ABBOTT: Now you’re thinking like a politician.
I'm having a laugh--nicely done.
Ponzi-Scheme,
I am going to use this in my class. I am going to attribute it to "Ponzi-Scheme." If someone else wrote it, let me know.
Funny and to the point.
"Director Barry Levinson imagines how the famous comedic duo might tackle unemployment statistics"
-- http://www.usnews.com/opinion/articles/2012/03/08/abbott--costello-take-on-the-real-unemployment-rate
Google would have been my friend. Thanks i-dog.
one could say we inhabit the world.
then one could say we are of the world.
we are the stuff of the world, we are just and nothing more or less than that which was said
we inhabit, the world. or just, we ourselves,
are strangers to ourselves, also known as
just plain stupid. there are kinder ways to say
it but that is it.
"One where economies remain extremely depressed yet almost no companies go bankrupt"
Small, privately owned mom and pop business are going bankrupt by the 1000's. The only reasons large companies don't go bankrupt is because they have a banking license and have easy access to unlimited cheap money.
This is what finances all the mergers and this is what keeps stocks artificially high.
It's not just the banks who are manipulating the economy, it's multinationals as well, as they act like banks.
I even know families with a banking license, so now you know how the super-rich get to play the game.