Comments for California Unemployment Rate Rises to 10.5% in February
Guest says:
no way
Guest Fri Mar 20 12:00:53 2009 CDT #
8 Ball says:
Bottom is in, I believe the mantra of Ben Bernanke!
/sarcasm/
8 Ball Fri Mar 20 12:01:30 2009 CDT #
MiTurn says:
As goes California, so goes the nation?
MiTurn Fri Mar 20 12:02:13 2009 CDT #
CRbot says:
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/3997707161895739824
CRbot Fri Mar 20 12:03:41 2009 CDT #
Guest says:
js-kit: More broke than the taxpayers
Guest Fri Mar 20 12:04:52 2009 CDT #
Newman (Hello Jerry....) says:
Give us more Bailout Money!
Newman (Hello Jerry....) Fri Mar 20 12:05:18 2009 CDT #
Barley says:
Some here had said that by mid 09 CA would reach above 10%. So much for the rebels and quacks!
Barley Fri Mar 20 12:06:01 2009 CDT #
Guest says:
Who would have ever thunk that Haloscan would have been a better option than, well, anything. Halo set the bar pretty low. Unfortunately, rather than trying to clear the bar, js-kit has decided to limbo. :'(
Guest Fri Mar 20 12:06:30 2009 CDT #
Mannwich says:
Unemployed consumers should have plenty of extra cash lying around to help stimulate the economy, right? Right?
Mannwich Fri Mar 20 12:07:39 2009 CDT #
8 Ball says:
Haloscan = Paulson
js-kit = Geithner
Where is our Tall Paul Comments system?
8 Ball Fri Mar 20 12:08:06 2009 CDT #
Anonymous says:
Poor bastards, Benny gonna help them by Moonshoting the commodities market.
Anonymous Fri Mar 20 12:10:39 2009 CDT #
REBear says:
Is the congress done introducing enough loop holes in the latest bankster bonus regulation?
REBear Fri Mar 20 12:13:02 2009 CDT #
Lawyerliz says:
Mkt down. Not too much, tho.
I wonder what Fla's at?
Lawyerliz Fri Mar 20 12:13:37 2009 CDT #
Comrade Byzantine_Ruins says:
The Credit Crisis that is Godzilla has stomped Osaka.
All the nuclear rocket ships of conventional policy have been destroyed.
Now bearded scientist Ben, heroic Timmy Geithner and love interest / journalist Money Honey have unleashed another Toho monster from its ancient tomb.
Panning footage of the monster-trodden wasteland.
THe coverage begins. How will japan eat? Godzilla has left nuclear footprints through critical rice-growing regions!
Godzilla is stomping on toward the bright lights and big city of Tokyo. The authorities say, everyone remain calm, the monster will be stopped shortly.
In the distance, jets make constant strafing runs on the Gods OF Lankhmar-like figures of John Law, Hjalmar Schacht and JP Morgan to try to deflect them towards Godzilla's path.
Everything, Money Honey tells a breathless Japan as Godzilla lurches through the fire-lit night, is under control.
Comrade Byzantine_Ruins Fri Mar 20 12:16:18 2009 CDT #
poic.v20 says:
I'm officially in the economy is looking up for the next 2 weeks period cause I can finally roll my wife's suckass 401k into an IRA. I'll go bearish as soon as the rollover happens :-D
poic.v20 Fri Mar 20 12:17:02 2009 CDT #
burnside says:
Guest, when you submit a comment, wait a moment until the reply and delete fields appear next to your post - usually this takes only a few seconds - before refreshing the page. If you don't give the application an opportunity to load your comment, it won't.
burnside Fri Mar 20 12:17:26 2009 CDT #
EvilHenryPaulson says:
Guest is right, js-kit just had a period where it was eating all new posts
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EvilHenryPaulson Fri Mar 20 12:19:45 2009 CDT #
Cinco-X says:
Are you sure it wasn't the NSA or Homeland Security?
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Cinco-X Fri Mar 20 12:55:05 2009 CDT #
Guest says:
I have, still eating more comment than the cookie monster eats cookies.
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Guest Fri Mar 20 12:22:05 2009 CDT #
fallonPDX says:
Ha! We got Cali bested: 10.8% unemployment baby here in Oregon! The job destruction monster has his foot on
the accelerator and he ain't backing off.
http://economistsview.typepad.com/timduy/2009/03/oregon-employment-report.html
fallonPDX Fri Mar 20 12:17:48 2009 CDT #
Cinco-X says:
Ummmm.....congratulations?
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Cinco-X Fri Mar 20 12:53:55 2009 CDT #
Black Star Ranch says:
OT - Newest Rumor In Town:
It has been rumored that our new HOME DEPOT will be turned into a SEASONAL store. Opened only in the fall thru spring? Has anyone heard of this before?
Black Star Ranch Fri Mar 20 12:20:13 2009 CDT #
EvilHenryPaulson says:
surely you mean from Spring through Fall
winter is the slowest season
doubt it somewhat based on how local governments might react
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EvilHenryPaulson Fri Mar 20 12:22:14 2009 CDT #
EvilHenryPaulson says:
surely you mean spring through fall... winter is the slowest season and summer is the busiest
doubt it somewhat based on predictable local government reactions
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EvilHenryPaulson Fri Mar 20 12:23:22 2009 CDT #
MiTurn says:
Where are you at. Doesn't seem like a plausible business plan, unless you're under snow all winter.
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MiTurn Fri Mar 20 12:41:51 2009 CDT #
TCA says:
Haloscan = Paulson
js-kit = Geithner
Where is our Tall Paul Comments system?
It's called Wordpress.
TCA Fri Mar 20 12:21:40 2009 CDT #
Lawyerliz says:
Well, I went down and fixed lunch for mom and hub after I gave up finding anything new. So jskit screw ups are good for accomplishing something!
I posted something banal a couple of minutes ago, will it be there? *DONT_KNOW*
Lawyerliz Fri Mar 20 12:22:33 2009 CDT #
deb says:
It's 10.9% NSA.
Heard that the EDD reported the rate using a U-6 type definition is over 20%.
Plus, 1 in 5 in LA on welfare. I don't think you can collect both of these, so that would be an awful lot of people either on unemployment or welfare, yikes.
deb Fri Mar 20 12:23:03 2009 CDT #
EvilHenryPaulson says:
1 in 5? That's Berlin type numbers
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EvilHenryPaulson Fri Mar 20 12:24:43 2009 CDT #
DIPing to China says:
Let us keep asking the all important question of where the new job creation will come from to pull us out of this depression? Still looking for that sector(s) to make an appearance.
Settling in for a very long wait.
DIPing to China Fri Mar 20 12:23:24 2009 CDT #
Angry Saver says:
And those that are STILL working are no doubt making less. Much LESS in many cases.
People sold their futures for vanity and false wealth. Thanks wall street.
We need a depression slogan. Merry depression? Happy depression? Enjoy the depression? Make the most of the depression. Enjoy the once in a century depression? They just don't sound right.
Here's one: Pass the hemlock!
Angry Saver Fri Mar 20 12:24:06 2009 CDT #
Cinco-X says:
According to Denniger:
"There is no "wealth" to create through securitization - only wealth to strip - and this assumes the process is clean and honest.
The fact of the matter is that the process has been anything but clean and honest; the claim of "wealth creation" in any of this "financial product innovation" is a bald-faced lie.
The only way you can appear to have "created" wealth through securitization is to in fact steal. That is, to misrepresent the credit quality in that deal so that people will pay you more than the deal is actually worth. What's worse is that the inherent law of business balance (that prohibits getting something for nothing) means that in order to have a total (across the spectrum of those loans) return that is higher than simply portfolioing them at origination requires lots of stealing, because every hand that a deal passes through is yet more stripping that inherently must take place, since nobody works for free."
And he only used 12 pt. type!
These people weren't "the best and brightest" - they were thieves. Theft by obfuscation is still theft. If I bamboozle you into buying something at above its true market value by misrepresenting something in that transaction the common word for what I just did is "defraud."
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Cinco-X Fri Mar 20 12:58:43 2009 CDT #
debtinator says:
force mexico or spain to take it back.
debtinator Fri Mar 20 12:24:23 2009 CDT #
Lawyerliz says:
Nope. It disappeared.
There is no slow plant season in Fla. One post seems to have been eaten.
Lawyerliz Fri Mar 20 12:24:36 2009 CDT #
Charles Kiting says:
CA has ED - employment dysfunction
Charles Kiting Fri Mar 20 12:24:52 2009 CDT #
Apprentice says:
Germany’s Bernhardt…”The ECB can make an unlimited amount of money available.” to bail out a failing EU country.
They are cranking up the War of the Worlds Paper Prestigigitizer Machines.
Effortless unlimited money creation.
It's way past time to stock up on on the fiat of Zimbabwe - cigarettes and liquor.
Apprentice Fri Mar 20 12:25:11 2009 CDT #
DIPing to China says:
Clicking your name after posting, before refreshing, and having your comment appear in your posting history has proven to be a surefire way for your comment to not disappear. 3 for 3 so far.
DIPing to China Fri Mar 20 12:26:40 2009 CDT #
debtinator says:
Is that bear on the flag for market conditions?
debtinator Fri Mar 20 12:26:41 2009 CDT #
dashingdwl says:
2nd half recovery should be kicking in soon.
dashingdwl Fri Mar 20 12:28:06 2009 CDT #
Anonymous says:
I hope the 2nd-half recovery kicks in in Q2.
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Anonymous Fri Mar 20 16:34:32 2009 CDT #
Anonymous says:
DIPing into China: yes the 800lb gorilla in the room awaits and nobody wants to discuss beyond re inflating RE and auto sales to fog in the mirror credit risks. We are no different then China, NO plan B. Bubble or bust..
Anonymous Fri Mar 20 12:28:12 2009 CDT #
Lawyerliz says:
Ok, the reply and delete buttons never appears, after several minutes on my previous post. A sign of trouble?
Lawyerliz Fri Mar 20 12:29:03 2009 CDT #
Comrade Byzantine_Ruins says:
Apprentice says:
Today, 1:25:11 PM
Germany’s Bernhardt…”The ECB can make an unlimited amount of money available.” to bail out a failing EU country.
They are cranking up the War of the Worlds Paper Prestigigitizer Machines.
Tarponomics is superior in all ways to real markets and economics! Tarponomics easily outcompetes all pre-tarponomic business practices and markets.
If tarponomics proves insufficient at first, merely add more fiction until the problem dissolves!
Comrade Byzantine_Ruins Fri Mar 20 12:29:34 2009 CDT #
Haha says:
Sesame Street Explains the Madoff Scandal
http://www.youtube.com/watch?v=XJ8OjAB_e3g
Haha Fri Mar 20 12:30:58 2009 CDT #
Lawyerliz says:
Yep. Earlier post with no reply delete buttons disappeared. Later post is there. Will try the click on name thing.
Lawyerliz Fri Mar 20 12:31:30 2009 CDT #
Anonymous says:
You're supposed to be a lawyer so figure out the problem with js-kit yourself. Tired of hearing you go on and on and on and on......
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Anonymous Fri Mar 20 14:58:27 2009 CDT #
squeezed says:
This made me boiling mad:
"$90 billion of those funds were funneled quickly to AIG's trading counterparties, which were bought out at nearly face value..."We don't think we did anything wrong," Viniar said."
http://biz.yahoo.com/rb/090320/business_us_goldmansachs_aig.html?sec=topStories&pos=5&asset=TBD&ccode=TBD
squeezed Fri Mar 20 12:31:32 2009 CDT #
The Sum of All Banking Evil says:
..."We don't think we did anything wrong," Goldman Sachs' Viniar said.
I think Mr. Viniar sums up the problem perfectly.
Parent Post
The Sum of All Banking Evil Fri Mar 20 13:09:34 2009 CDT #
burnside says:
Guest, s'pose I should have preluded that with "not sure, but this has worked for me". Since I began waiting a stage beat or two before refreshing, nothing's got zapped - then I noticed some of the edit functions were still loading longer than I'd have thought sensible.
burnside Fri Mar 20 12:32:04 2009 CDT #
JimPortlandOR says:
"I'm California Dreaming, on such a [late] winter's day"
Oregon will soon follow.
JimPortlandOR Fri Mar 20 12:32:05 2009 CDT #
nades says:
Dont know if this was posted earlier?
"Day Laborers Revenge"
http://video.google.com/videoplay?docid=-5475595609978076033&ei=GJDASeHRF5OEqwKp1LjcCw&q=mexican+cei+day+labor&hl=en
nades Fri Mar 20 12:32:35 2009 CDT #
z says:
"Day Laborers Revenge" comes when President Gonzales expands social security to all residents and means tests it.
Parent Post
z Fri Mar 20 12:53:25 2009 CDT #
jo6pac says:
Yeh I posted when it came out here but it was taken down real fast.
jo6pac :'(
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jo6pac Fri Mar 20 13:41:14 2009 CDT #
peter xyz says:
Please bear in mind (I haven't had a chance to dig yet) that long-temr comparisons may be nerfed by a recent change in methodology. I haven't seen the announcement of a back-dated series
peter xyz Fri Mar 20 12:33:52 2009 CDT #
cd says:
Squeezed-
Me too >:o
cd Fri Mar 20 12:33:54 2009 CDT #
Lawyerliz says:
They don't think anything they do is wrong. It depends on what you definition of "wrong" is.
I keep saying 3rd half when I'm not saying 4th or 5th half. Why doesn't anybody listen?
Lawyerliz Fri Mar 20 12:33:58 2009 CDT #
Cinco-X says:
We're all waiting for our turn to talk ;-)
Parent Post
Cinco-X Fri Mar 20 13:12:12 2009 CDT #
cd says:
any market players expecting the 2pm shuffle today?
cd Fri Mar 20 12:35:01 2009 CDT #
burnside says:
LawyerLiz, possibly try emptying your cache?
OK - I'm off the subject. Apologies to all.
burnside Fri Mar 20 12:36:39 2009 CDT #
Bob Dobbs says:
"Let us keep asking the all important question of where the new job creation will come from to pull us out of this depression? Still looking for that sector(s) to make an appearance.
Settling in for a very long wait."
I've been asking that question here for six months. Haven't asked lately, because people here have pretty much completely stopped talking about a near-term recovery. Even CR has put question-marks all over the issue of what will power the recovery -- in a masterful post full of, of course, wonderful charts and graphs.
There'll be hell to pay when 50 percent of America comes around to this point of view.
Bob Dobbs Fri Mar 20 12:37:22 2009 CDT #
Anonymous says:
California could solve a lot of problems by legalizing marijuana. Those construction workers could move north and grow pot. It would create jobs, generate new taxes and reduce the prison population.
Anonymous Fri Mar 20 12:38:32 2009 CDT #
Anonymous says:
Northern Calif counties would immediately go BK! Southern OR would soon follow...
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Anonymous Fri Mar 20 13:10:56 2009 CDT #
Lawyerliz says:
Thanks, but I don't know what that means. I never filled my cache to my knowledge. But waiting til the buttons appeared was a good suggestions.
Mkt down 58!
Lawyerliz Fri Mar 20 12:39:02 2009 CDT #
Mannwich says:
@Bob Dobbs: How about this? Converting empty malls and strip malls into homeless shelters?
Mannwich Fri Mar 20 12:39:04 2009 CDT #
Anonymous says:
Why are people worried? Isn't there unemployment insurance that lasts 9 months?
Anonymous Fri Mar 20 12:39:07 2009 CDT #
Bob Dobbs says:
""I'm California Dreaming, on such a [late] winter's day"
Oregon will soon follow."
Follow? I know one Oregon building contractor cadging under-the-table jobs down here in CA because he can't get enough work in CA. The CA economy has always been the secret life-support system for you proud Oregonians. When we go down somewhat, you go down hard. And when we go down hard, you crater.
Bob Dobbs Fri Mar 20 12:39:19 2009 CDT #
Anonymous says:
OR jobs loss last month was huge and unexpected.
Parent Post
Anonymous Fri Mar 20 13:08:20 2009 CDT #
fallonPDX says:
See my post earlier. The velocity of the job losses is just astounding and scary.
Parent Post
fallonPDX Fri Mar 20 13:27:12 2009 CDT #
fallonPDX says:
Oregon is already leading the West Coast at 10.8%.
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fallonPDX Fri Mar 20 13:29:04 2009 CDT #
PonziMCC says:
emergency fee on banks' FDIC insured deposits is needed to prevent the reserve from falling to zero
so , to be straight, he announces this while talking at Independent Community Bankers of America’s, basically the sheeple of banking.
Give massively to the biggest 19 Fin co's , and rape from the little guys.
lather, rinse , repeat. a dirty, dirty biz.
PonziMCC Fri Mar 20 12:39:20 2009 CDT #
Lawyerliz says:
I'm sure you've already noted and commented upon the fact that O's administration is gonna legalize medical pot.
We're sick!! We are all sick now!!
Lawyerliz Fri Mar 20 12:41:00 2009 CDT #
JimPortlandOR says:
Long term US occupation: make babies!
(or eat grass like N. Korea)
JimPortlandOR Fri Mar 20 12:41:15 2009 CDT #
poic.v20 says:
"Give massively to the biggest 19 Fin co's , and rape from the little guys.
lather, rinse , repeat. a dirty, dirty biz."
That's the American way. Where have you been for the last 200 years?
poic.v20 Fri Mar 20 12:42:22 2009 CDT #
Alan Greedspawn says:
It is all in vain: neither Tarpax nor BO will stop the bleeding.
Alan Greedspawn Fri Mar 20 12:43:29 2009 CDT #
anon says:
Thanks! I fell out of my chair laughing at this 1-liner.
Parent Post
anon Fri Mar 20 16:39:33 2009 CDT #
Barley says:
I almost forgot its BFF!
Barley Fri Mar 20 12:44:25 2009 CDT #
Cinco-X says:
Isn't the triple witching hour coming up at 3:00PM as well?
Parent Post
Cinco-X Fri Mar 20 13:02:57 2009 CDT #
Lucifer says:
U6 is?
Lucifer Fri Mar 20 12:44:28 2009 CDT #
JimPortlandOR says:
I predict CA will legalize growing weed and selling in state stores, taxed to keep the state afloat (along with medical 'dispensaries'.
Mendocino Gold, baby!
JimPortlandOR Fri Mar 20 12:44:44 2009 CDT #
Anonymous says:
I work for one of AIG's biggest competitors.
AIG's insurance policy holders are jumping ship left and right, even though AIG's current troubles aren't related to insurance underwriting practices (as I understand it, those are still sound). But you have insured's CFO's asking "why are we still with AIG?". While we're happy to take on new business, having a large competitor swimming in the same pool as us has helped to spread the total risk around. Now, if they go under, there are only a few players left large enough to cover that risk and that scares me if there are large losses.
Anonymous Fri Mar 20 12:45:13 2009 CDT #
wc says:
Working at another large AIG competitor, pension demand is way up though fluctuating a lot (the typical $5 to $10 million dollar sales week is now $25 to $50m)
Parent Post
wc Fri Mar 20 12:51:10 2009 CDT #
alybaba says:
Great piece by Matt Taibi
http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print
alybaba Fri Mar 20 12:46:55 2009 CDT #
Barley says:
"and that scares me if there are large losses"
Please. Solution is simple, you have been doing it for years! You dont have any payouts if claims are denied - so, whats to lose?
Barley Fri Mar 20 12:47:40 2009 CDT #
ac says:
Seems like Fiscal Responsibility Fluid has been holding up relatively well compared to stocks. If it continues, this could be really bad news for the Fed and the econorapist profession more generally.
ac Fri Mar 20 12:48:12 2009 CDT #
Guest says:
Let us keep asking the all important question of where the new job creation will come from to pull us out of this depression? Still looking for that sector(s) to make an appearance.
Settling in for a very long wait.
Plus sustain the existing structure. Too much of the resources are captured by the head where the feet go shoeless.
Guest Fri Mar 20 12:53:34 2009 CDT #
Anonymous says:
Wow
Anonymous Fri Mar 20 12:54:05 2009 CDT #
Sinomania! says:
San Diego anecdotal: went out for a date night last night, first time in quite awhile, and was amazed at how packed all the restaurants are and the bars busy too. streets jammed on a Thursday night in Gaslamp downtown, Hillcrest, and North Park. California In Crowd still still spending cash & talking trash!
Sinomania! Fri Mar 20 12:54:56 2009 CDT #
wunsacon says:
It's *always* good to be a king.
Parent Post
wunsacon Fri Mar 20 16:41:42 2009 CDT #
Barley says:
Dobbs - Excellent observation!
Barley Fri Mar 20 12:55:26 2009 CDT #
Elmo Rally says:
goodness, what is going on with the opex pump
Elmo Rally Fri Mar 20 12:56:03 2009 CDT #
Comrade Tiberius says:
Must be those AIG bonuses hitting the street.
"Gaslamp downtown, Hillcrest, and North Park. California In Crowd still still spending cash & talking trash!"
Comrade Tiberius Fri Mar 20 12:56:14 2009 CDT #
DIPing to China says:
National medical marijuana will be the gateway legalization for the rest of the illicit drugs. I also look forward to all pharmaceuticals to be sold OTC. Forget about heroin, Oxycontin for all. The next job creation sector will be emergency medical personnel and in resident treatment programs. Funeral homes will see some profit increase as well. Invest in big pharma and look for Monsanto to patent the best seeds for coca and marijuana plants.
Creating jobs for the out of work drug dealers and their government toppling syndicates will have to be addressed with some special adjustments to the unemployment regulations. All accomplished with the audacity of hope and believing in change.
Wow, many benefits to this plan. Start calling congress immediately! =-X
DIPing to China Fri Mar 20 12:57:56 2009 CDT #
Black Star Ranch says:
"I predict CA will legalize growing weed and selling in state stores"
AG Holder has just said he wouldn't prosecute federally what isn't illegal statewise regarding pot. Selling pot still won't be legal for another 5+ years - then it'll be undercut by local illegal growers. I still remember the $10 for a "5-finger bag" days. Now THAT'S DEFLATION: "$150-oz Red-Hair ON-SALE NOW reduced to $15 for a FAT BAG! ROFLOL
Black Star Ranch Fri Mar 20 12:59:01 2009 CDT #
Guest says:
Those construction workers could move north
That's the last thing that will benefit northern ca. Central valley would be the place to grow it if it is legalized on big corporate farms.
Guest Fri Mar 20 12:59:34 2009 CDT #
debtinator says:
We don't need rocket scientists making complicated bets.
We need prudent people to make loans.
debtinator Fri Mar 20 13:01:21 2009 CDT #
poic.v20 says:
"San Diego anecdotal: went out for a date night last night, first time in quite awhile, and was amazed at how packed all the restaurants are and the bars busy too. streets jammed on a Thursday night in Gaslamp downtown, Hillcrest, and North Park. California In Crowd still still spending cash & talking trash!"
A high blood-koolaid concentration can cause symptoms similar to high blood-alchohol. An inability to form coherent thoughts and an inability to comprehend the results of ones actions.
poic.v20 Fri Mar 20 13:02:07 2009 CDT #
black dog says:
of course larry kudlow would point out that 89.5% of people are still employed.
more mustard seeds.
black dog Fri Mar 20 13:02:09 2009 CDT #
Fair Economist says:
Legalizing pot in California would be very good for California but possibly not nearby states because of smuggling to other states with still-strict marijuana bans. One problem Cali has had with its medical marijuana law is that state and federal laws still strongly restrict growing, which means there's still a lot of criminal activity in the form of illegal growing (even by state rules) and marijuana theft. Criminal activity within the state would be negligible if growing was unrestricted and Mendicino county had verdant hills of hemp, but that would make it so cheap in Cali that any other Western state with laws more strict than a Dutch look-the-other-way approach would face massive criminal smuggling. Arguably that could be a good thing as it would basically force decriminalization on most of the country.
Fair Economist Fri Mar 20 13:02:12 2009 CDT #
dUCKdUCKgOOSE says:
Legalizing pot in California would be very good for California
Tobacco is a gateway drug to pot. Pot is a gateway drug to crack and anything else which may be smoked. HOW IS THIS A GOOD THING? How about this...let's legalize pot and YOU get to take responsibility for anyone that they hurt. God-dammed liberals.
Parent Post
dUCKdUCKgOOSE Fri Mar 20 13:13:18 2009 CDT #
bailouthelicopter says:
"Tobacco is a gateway drug to pot."
LOL
Parent Post
bailouthelicopter Fri Mar 20 13:17:09 2009 CDT #
Cinco-X says:
None of that is true. Pot only appears to be a gateway because in order to get it, you need to develop a business relationship with a dealer; a dealer whose best interest lie in selling you other drugs that are more expensive and addictive.
If pot were legalized, there'd be a break in that relationship, and I suspect that other drug use would actually go down, and it'd be easier to keep kids away from it because it would be controlled.
Parent Post
Cinco-X Fri Mar 20 13:25:25 2009 CDT #
Tony Danza says:
Tobacco is not a gateway to pot. Pot is not a gateway to crack or heroin.
However alcohol is a gateway to tobacco, crack, heroin and meth. Why is alcohol legal? Oh yeah: how do pot smokers hurt people? F@cking christian fundamentalists!
Parent Post
Tony Danza Fri Mar 20 13:28:40 2009 CDT #
Comrade Tiberius says:
"Oh yeah: how do pot smokers hurt people? "
Lung cancer?
Parent Post
Comrade Tiberius Fri Mar 20 13:30:33 2009 CDT #
wunsacon says:
Here's what you're missing:
- Almost anybody who wants drugs can get them. We're already paying the bill for the damages, via lost economic productivity (of the dopes who abuse drugs) and emergency services, family planning, child welfare services, etc. So, what you're worried about has already happened.
- Plus, we're paying the extra expenses of trying to stop it, via prisons, police, clogged courts, etc.
- Next, there's the corrupting influence of criminal syndicates that -- once they corrupt judges/police/legislators -- extend their "investment" into legitimate businesses (e.g., trash pickup, for one) but run them in an illegitimate way, which hurts legitimate businessmen.
- Finally, our government has finite resources. The time our FBI spent fighting drugs would've been better spent fighting white collar crime.
"God-dammed (sp) liberals", huh?
Parent Post
wunsacon Fri Mar 20 16:57:33 2009 CDT #
iceman says:
13-14% in early 2010 in CA. Bank on it. Our situation starts with a D.
iceman Fri Mar 20 13:02:25 2009 CDT #
cd says:
crowds could have been due to march madness opening night...same her in SF...
cd Fri Mar 20 13:02:28 2009 CDT #
CRbot says:
The Latest from Jesse:
SP Futures Hourly Charts at 1:45 EDT: Vertigo
CRbot Fri Mar 20 13:02:39 2009 CDT #
Samdog says:
Someone asked earlier about the 2 pm market dance; my ticker-tape machine indicates: Dow down ~ $105.
Samdog Fri Mar 20 13:02:40 2009 CDT #
wally says:
It is really, really scary to watch the US government throwing so much money away on the big banks knowing that what is coming for states, cities, pension funds and ordinary people is going to dwarf the problems of that financial elite.
wally Fri Mar 20 13:06:48 2009 CDT #
AIG is helping Al Qaeda says:
Think that is bad try the UK. Was just there for work and it looks like the whole country is leaving a going out of business sale.
UK or Australia: which should have been the penal colony?
Parent Post
AIG is helping Al Qaeda Fri Mar 20 18:20:48 2009 CDT #
Yancey Ward says:
Don't you Californians worry- as soon as those tax increases kick in hard, things will get much better in your state. ;)
Yancey Ward Fri Mar 20 13:07:21 2009 CDT #
borkafatty says:
Well they better legalize, wt least if were all high and happy we won't mind eating the government sponsored soup.
borkafatty Fri Mar 20 13:08:33 2009 CDT #
Haha says:
wally,
It's not real money anyway.
Haha Fri Mar 20 13:09:04 2009 CDT #
DIPing to China says:
"The "too big to fail" thing is really we are "too small to pay the tab". "
Stole this gem from "dbloomburg" off another blog. Too true.
Anyone sent out the debt jubilee meme lately?
DIPing to China Fri Mar 20 13:09:47 2009 CDT #
dUCKdUCKgOOSE says:
This is over 155,000 construction jobs lost in California alone over the last 12 months.
Hahahaha...those are the ones that are actually counted. There were at least 5x that many illegal alien construction workers in CA alone. California has an enormous shadow worker population (off the books, under the table, cash-only, no SS declaration, etc.). Gimme a break CR.
dUCKdUCKgOOSE Fri Mar 20 13:09:51 2009 CDT #
poic.v20 says:
Yancey,
Better watch California carefully. We're a taste of what's coming to a state near you. :*
poic.v20 Fri Mar 20 13:10:11 2009 CDT #
CRbot says:
The Latest from Denninger:
Brad Sherman: HE GETS IT!
CRbot Fri Mar 20 13:10:42 2009 CDT #
cremebrulee says:
BRAD SHERMAN SHOULD BE ON ALL NETWORK 24/7. Were does CNBC get off with their talking heads remarks : We are from Wall Street we do whatever we want !!!!!!!!!!
Where is John Stewart ???
Parent Post
cremebrulee Fri Mar 20 13:32:02 2009 CDT #
bearly says:
Where's my fargin Crocus ?
bearly Fri Mar 20 13:11:39 2009 CDT #
Black Star Ranch says:
LOL....you California pot growers will want to start growing veggies here before too long - they'll fetch more on the open or underground mkt than "smoke". "Pot" promotes hunger while veggies solve hunger. Pretty clear dilemma.
Black Star Ranch Fri Mar 20 13:13:01 2009 CDT #
DIPing to China says:
In all fairness to legalizing drugs a very good argument can be made that the war on drugs has hurt our country and others far worse then letting the Darwinian choice of "free" people choosing to do drugs.
My personal choice would be legalization contrary to my previous snark.
DIPing to China Fri Mar 20 13:17:38 2009 CDT #
bearly says:
Aren't jobs fungible ?
bearly Fri Mar 20 13:17:41 2009 CDT #
debtinator says:
Aren't jobs fungible?.
If some guy in China named "Fung" can do your job, it's fungible.
Parent Post
debtinator Fri Mar 20 13:20:15 2009 CDT #
debtinator says:
I thought marijuana was the gateway drug to communism. Or was it libertarianism?
debtinator Fri Mar 20 13:18:08 2009 CDT #
cd says:
Ms-that FAZ treated well huh?
cd Fri Mar 20 13:18:09 2009 CDT #
poic.v20 says:
I hear names like dUCKdUCKgOOSE are a gateway to being a redneck, which is a gateway to being a moron.
poic.v20 Fri Mar 20 13:18:38 2009 CDT #
CRbot says:
The Latest from Ritholz:
Rent Bits
CRbot Fri Mar 20 13:19:50 2009 CDT #
Comrade Byzantine_Ruins says:
Black Star Ranch says:
Today, 2:13:01 PM
LOL....you California pot growers will want to start growing veggies here before too long - they'll fetch more on the open or underground mkt than "smoke". "Pot" promotes hunger while veggies solve hunger. Pretty clear dilemma.
It will be more like sauerkraut or pickles or preserves -- garden handicrafts. One out of every couple-ten people will grow some fantastic herb.
Maybe more like home made wine for the people who stick to the high end strains under tightly controlled conditions.
There is a guy who gets good money for large, perfect mushrooms at the farmer's market. In times to come, he will sell a High Times size crystal-covered bud alongside it for another 20 or whatever.
At least at first around here, there will be a thriving black market, as there will be 1 kind of schwag sold under 2 different brands at the state store. But the state will undercut 'cause it always can and that will gradually rationalize prices.
Comrade Byzantine_Ruins Fri Mar 20 13:22:29 2009 CDT #
Cinco-X says:
I had a cousin that got his pHd at Ole Miss (IIRC), and he told me a really funny story. Old Miss was producing ALL of the weed for the govt. to use for its studies on MJ back in the '70, and they were doing it on a huge 10,000 acre farm where they grew corn, beans, etc., but in addition, bees. They would sell produce, eggs, milk, and honey at a farm stand to help subsidize the horticulture department. Anyway, one day, a large sedan with a u-haul trailer pulled up and bought all 400 or so jars of honey, and people started to get suspicious, so they tested the honey, and found out that it had a THC concentration equivalent to that of hash.
The End
Parent Post
Cinco-X Fri Mar 20 13:32:34 2009 CDT #
All Fall Down says:
Most people living in CA need drugs to cope with that state. Glad I got out with my sanity.
All Fall Down Fri Mar 20 13:22:42 2009 CDT #
CRbot says:
The Latest from Mish:
GM, Chrysler Need "Considerably" More Money
CRbot Fri Mar 20 13:23:00 2009 CDT #
Sexy Derivative says:
The Latest from Denninger:
Never mind Goldman disclosing that they got 100% payouts on the AIG "contracts" that had no prayer in hell of being any good under the terms of that contract, because nowhere in that contract was a US Government guarantee!
This is exactly right.
Sexy Derivative Fri Mar 20 13:25:41 2009 CDT #
borkafatty says:
Legalizing pot in California would be very good for California
Tobacco is a gateway drug to pot. Pot is a gateway drug to crack and anything else which may be smoked. HOW IS THIS A GOOD THING? How about this...let's legalize pot and YOU get to take responsibility for anyone that they hurt. God-dammed liberals.
--------------
Been smoking for 25 years...nothings changed I am still retarded.
borkafatty Fri Mar 20 13:26:34 2009 CDT #
Hoopajoops LTD says:
This motherfucker just ate my comments!
I bought some GCC the day before yesterday for commodity exposure
Hoopajoops LTD Fri Mar 20 13:26:40 2009 CDT #
RuffRednSore says:
alybaba, thanks for the rollingstone link. It just confirmed what we here at CR already know, and it's depressing. JUst another stage of disaster capitalism.
RuffRednSore Fri Mar 20 13:27:29 2009 CDT #
cd says:
WSJ-just now citi groups moves to foreclose on GGP Mall
cd Fri Mar 20 13:29:46 2009 CDT #
Comrade Byzantine_Ruins says:
dUCKdUCKgOOSE says:
Today, 2:13:18 PM
Tobacco is a gateway drug to pot. Pot is a gateway drug to crack and anything else which may be smoked. HOW IS THIS A GOOD THING?
Yeah, everyone knows about the romance between Rastafarianism and crack cocaine.
How is taking the pot smokers away from a criminal context a bad thing if you are worried about it as a gateway drug? Does this only apply to bull negroes or will other people be deranged into crack smoking by getting high?
Comrade Byzantine_Ruins Fri Mar 20 13:30:23 2009 CDT #
Guest says:
This motherfucker just ate my comments!
Yup. Mine too. Luckily, I had nothing insightful to add. Something about marijuana being the gateway drug to sucrose, if I remember.
Guest Fri Mar 20 13:30:26 2009 CDT #
Dust Bowling for Dollars says:
Marijuana leads to excessive consumption of snack foods and album-oriented rock.
Dust Bowling for Dollars Fri Mar 20 13:32:21 2009 CDT #
Cinco-X says:
You say that like it's a bad thing ;)
Parent Post
Cinco-X Fri Mar 20 13:33:49 2009 CDT #
Comrade Byzantine_Ruins says:
Comrade Tiberius says:
Today, 2:30:33 PM
Lung cancer?
So what about vaporizers and extracts? If the issue is health, the real problem lies in the systematic deployment of state assets to keep the market for cleaner, better versions of the drug stunted.
Comrade Byzantine_Ruins Fri Mar 20 13:34:20 2009 CDT #
Tom Stone says:
If you actually talk to high school kids,it is easier for them to get pot than beer or cigarettes.And the big drug dealers and importers are already paying taxes of a sort to corrupt officials.The biggest beneficiaries of our current drug laws in California after the importers are the "Law Enforcement" community.Take a look at the forfeiture laws and the prison industry for examples.
Tom Stone Fri Mar 20 13:35:07 2009 CDT #
Kung Fu Panda says:
I don't smoke pot and wouldn't use it if it were legal, but I support legalization. Marijuana is no different than alcohol or tobacco, and the current legal status has had practically zero effect on the availability of the product. Look, the POTUS is on video stating that he inhaled regularly, and everyone laughed. Legalization would free up some jail space and allow law enforcement focus on more damaging crimes...like large scale embezzlement or bank fraud.
Kung Fu Panda Fri Mar 20 13:35:21 2009 CDT #
scone says:
Harney County, in Oregon, is around 20% unemployment, but that's for 3 humans and a dog.
http://news.opb.org/article/4518-more-stormy-weather-oregons-unemployment-rate/
scone Fri Mar 20 13:35:51 2009 CDT #
cd says:
Cinco-That was great! I had friend that played for the Rebels as H-back in late early 90's and he says it's still there..
cd Fri Mar 20 13:36:08 2009 CDT #
Samdog says:
Sexy Derivative says:Today, 2:25:41 PM“The Latest from Denninger:
"...nowhere in that contract was a US Government guarantee!"
Perhaps. But it sure helps when your former CEO is the Sec. of T, who stands to lose hundreds of millions w/o a bailout. :-D
Samdog Fri Mar 20 13:36:22 2009 CDT #
All Fall Down says:
Recently I visited friends in No. CA. My buddy and I went to the gas station to fill his car. The level of traffic noise is absolutely astounding compared to the 7 traffic light town I am used to. There are no stars at night in that state. I'm sure the noise, pollution and lights at night aggrevate insanity. Small wonder everyone there wants to legalize drugs.
All Fall Down Fri Mar 20 13:37:05 2009 CDT #
poic.v20 says:
In terms of overall long-term physical damage alcohol by far beats any other recreational drug on the market.
Look into the length of time it takes an alcoholic to physically recover. It's atleast twice as long as any other recreational drug.
poic.v20 Fri Mar 20 13:38:21 2009 CDT #
fried says:
NYC is having a few problems too...the city hospitals are laying off 400 folks, and closing a raft of programs, including tuberculosis outreach. With more than 450k uninsured folks using the hospitals, which costs the city 500 million a year, the budget gap is 316 million now, expected to grow another 300 million.
Tuberculosis is serious here, with immigrants often carrying the disease, and drug addicts affected as well.
Merrill Lynch got 2.6 billion in taxpayer bonuses...which will not be affected by the AIG tax proposal. A fraction of that could help the 450,000 people in NY who used the emergency rooms without health care. And with layoffs and failing retail here, that uninsured number is sure to grow.
But the banksters are rich and safe, and that's all that matters.
http://cityroom.blogs.nytimes.com/2009/03/19/city-hospital-system-to-cut-400-jobs/?scp=1&sq=hospitals%20layoffs&st=cse
fried Fri Mar 20 13:39:23 2009 CDT #
Hysterian says:
Cinco- that is an urban legend. The Weed is wind pollinated, and bees won't touch it. Wind pollinated plants don't produce nectar, you see. *DONT_KNOW*
Hysterian Fri Mar 20 13:39:48 2009 CDT #
Cinco-X says:
My cousin told me this, and he had a pHD in horticulture, and he was there. I heard this from him back in the '70s, long before the internet, e-mail, etc.
Parent Post
Cinco-X Fri Mar 20 13:50:17 2009 CDT #
Cinco-X says:
I googled it; 1 yes, 1 no. Oh well......I hope it's true;)
Parent Post
Cinco-X Fri Mar 20 14:07:13 2009 CDT #
Angry Saver says:
Brad Sherman should be on all the TV talk shows. His message is simple, accurate and based on common sense.
It's painful to watch those CNBC dingbats defend wall street bonuses in the face of a financial system meltdown.
Absent Fed sponsored inflation, wall street employment and compensation would be 1/10 their current size. And the rest of the country would be better off. The fed steals our purchasing power and gives it to wall street. It's infuiating!
CNBC is a propaganda arm of wall street finance. A total sham.
Angry Saver Fri Mar 20 13:41:25 2009 CDT #
Money Man says:
Job Creation...pay folks to NOT work. Been very successful so far in lower class hoods' round the Nation. Maybe it will come to a McMansion near you!
Money Man Fri Mar 20 13:42:39 2009 CDT #
azurite says:
According to "Metro economist Yee" (Portland metro), the PDX slowdown is just temporary, and by end of 2009, or maybe 2015 (quite a difference) PDX will add another million or so. http://www.oregonlive.com/news/index.ssf/2009/03/portland_area_growth_stalls_wi.html
azurite Fri Mar 20 13:43:23 2009 CDT #
Samdog says:
Kung Fu Panda: "...more damaging crimes...like large scale embezzlement or bank fraud."
...since when is large scale embezzlement or bank fraud a crime?
I suppose next you're gonna tell us political bribes are illegal, too!
Samdog Fri Mar 20 13:44:09 2009 CDT #
DIPing to China says:
The gateway theory has another perspective. If you are a pot smoker and already a "criminal" then doesn't it follow you will commit other crimes like tax evasion or petty theft far more likely? Legalizing marijuana would likely drop crime statistics.
See what I did there? ;)
DIPing to China Fri Mar 20 13:44:56 2009 CDT #
Rob Dawg says:
You think there's anger over the AIG bonuses? Just wait until California gets its bailout(s) and what this wacky state spends money on. Never fear, the spirit lives. It is still full speed ahead on the $45.3b high speed rail project.
Rob Dawg Fri Mar 20 13:46:05 2009 CDT #
jo6pac says:
On Drugs
Check what Spain did in 2001 and Glen Greenwald will be releasing a study on it in the coming months. :-E
jo6pac Fri Mar 20 13:48:08 2009 CDT #
bearly says:
Obama and his administration is proving to be a bunch of spineless losers. Failing miserably. Once UE his 10% nationally he's toast.
Lame duck session could be the longest in history, if he stays in office...
bearly Fri Mar 20 13:48:50 2009 CDT #
azurite says:
OT, but James Saft has an interesting comment article in Reuters, re: shadow banking system/biggest securitization month in Europe & GB was 12/2008, not in 2006, dangers thereof . . ..http://www.reuters.com/article/reutersComService4/idUSTRE52J29420090320
Wondered what some of you think of this article, validity? Analysis?
azurite Fri Mar 20 13:51:34 2009 CDT #
Anonymous says:
Citi seizes Lousiana mall from General Growth
http://www.iii.co.uk/news/?type=afxnews&articleid=7230234&action=article
Now what in the hell are they going to do with that piece of crap?
Anonymous Fri Mar 20 13:53:07 2009 CDT #
cd says:
Citi forecloses on one ggp mall...more to come...
http://www.chicagotribune.com/business/chi-biz-general-growth-citigroup-foreclose-march20,0,5035132.story
cd Fri Mar 20 13:55:05 2009 CDT #
Michael says:
Would California see an in surge of population if they legalized pot? It might actually rescue the state from the brink of disaster. I know legalizing pot would be the only thing that would tempt me to move there and I don't even smoke it regularly and would probably give up smoking cigarettes there too. Win Win situation.
Michael Fri Mar 20 13:55:29 2009 CDT #
julieng says:
AIG : "In your face" (value)
julieng Fri Mar 20 13:56:00 2009 CDT #
fried says:
Obama ain't unemployed. But, he arranged a 500,000 advance against a children's book he will write after leaving the White House. He took the advance on Jan. 15 from Crown publishing. Believed to be the first time a president inked a book deal before entering the White House.
http://www.washingtontimes.com/news/2009/mar/19/obamas-500000-book-bonanza/
fried Fri Mar 20 13:57:01 2009 CDT #
RockyR says:
Soooo.... I was at a luncheon today and people around the table were saying that there news to be broken about China taking their cards and going home. I.e., they ain't buying our debt (crap) no more. Has anyone heard anything to substantiate this? I can't find a story anywhere to substantiate it, but the people who were saying it weren't the types to not know what's what if you know what I mean...
RockyR Fri Mar 20 13:57:28 2009 CDT #
fried says:
Post Office Layoffs, Closings...
March 20 (Bloomberg) -- The U.S. Postal Service will close offices, eliminate jobs and offer early retirement to workers in an effort to save more than $100 million annually.
The agency is closing six of 80 district offices, while reducing administrative staff positions at the district level by 15 percent, the service said in a statement. About 150,000 workers across the U.S. will be offered early retirement.
More than 1,400 mail-processing supervisor and management positions at nearly 400 facilities around the county also are being eliminated, the statement said.
fried Fri Mar 20 14:01:34 2009 CDT #
Anonymous says:
Conservative Republicans are a gateway drug to fascism.
</sarcasm off>
Anonymous Fri Mar 20 14:09:22 2009 CDT #
Cinco-X says:
You obviously don't know or understand the precepts of Fascism.
Parent Post
Cinco-X Fri Mar 20 14:15:44 2009 CDT #
Let\'s climb aboard the Wayback Machine! says:
Please *DONT_KNOW* We've been living participatory fascism for years. Left/right wingers are part of the problem.
Parent Post
Let\'s climb aboard the Wayback Machine! Fri Mar 20 14:26:18 2009 CDT #
Anonymous says:
Anon-
It wasn't a Republican who came up with little gem hidden in the "Give Act". Good old Democrat McCarthy of New York owns this one...
This section forms a committee to look at, among other items, the following....
Title VI - Sec. 1604. Duties.
(5) The effect on the Nation, on those who serve, and on the families of those who serve, if all individuals in the United States were expected to perform national service or were required to perform a certain amount of national service.
(6) Whether a workable, fair, and reasonable mandatory service requirement for all able young people could be developed, and how such a requirement could be implemented in a manner that would strengthen the social fabric of the Nation and overcome civic challenges by bringing together people from diverse economic, ethnic, and educational backgrounds.
Involuntary servitude to the State is just a little fascist, don't you think? Not to mention such a requirement would be in direct violation of the 13th amendment.
Sadly, it passed the House yesterday.
Parent Post
Anonymous Fri Mar 20 14:46:17 2009 CDT #
Wampeter of My Karass says:
"The Gleichschaltung also included the formation of various organisations with compulsory membership for segments of the population, in particular the youth. Boys served as apprentices in the Pimpfen ("cubs") beginning at the age of six, and at age 10, entered the Deutsches Jungvolk ("Young German Boys") and served there until entering the Hitler Youth proper at age 14. Boys remained there until age 18, at which time they entered into the Arbeitsdienst ("Labor Service") and the armed forces (Wehrmacht). Girls became part of the Jungmädel ("Young Maidens") at age 10, and at age 14 were enrolled in the Bund Deutscher Mädel ("League of German Maidens"). At 18 BDM members went generally to the eastern territory for their Pflichtdienst, or Landjahr, – a year of labor on a farm. In 1936 membership of the Hitler Youth numbered just under 6 million."
http://en.wikipedia.org/wiki/Gleichschaltung
Parent Post
Wampeter of My Karass Fri Mar 20 16:33:16 2009 CDT #
Werner says:
...CBO to Project 2009 Deficit Will Reach $1.9 Trillion...
jees .
Werner Fri Mar 20 14:10:09 2009 CDT #
Samdog says:
RockyR:
I got back recently from a month in China--it's not a pretty sight. Their present economy is a ghost of what it was just a year or so ago.
I don't have any insider poop--but my personal gut feeling, based on past experience with China, is that the Chinese gov't cannot afford to support 1.3 billion people and our country, too.
__________
Dust Bowling for Dollars says:Today, 2:32:21 PM “Marijuana leads to excessive consumption of snack foods and album-oriented rock."
Possibly the most compelling explanation I've ever heard for 'Funyuns' and people's ten-year love affair with Led Zeppelin....
Samdog Fri Mar 20 14:10:34 2009 CDT #
Sexy Derivative says:
there news to be broken about China taking their cards and going home. I.e., they ain't buying our debt (crap) no more.
Extremely unlikely and if it were the case, I guarantee it wouldn't reach the level of disclosure you've described. The Chinese just don't work that way.
Sexy Derivative Fri Mar 20 14:16:24 2009 CDT #
Cinco-X says:
Since the value of oil, gas, and yes bonds is based on the value of the last qty. sold, China "dumping" bonds, of for that matter, sitting out bond issues would be equivalent to cutting off their nose to spite their face. As long as they have the where-with-all, they need to stay in the game for their own good, since they have, what is it, half a trillion in US Govt securities, whose value would evaporate if the market for them goes bust. As it turns out, the Chinese are clever people; I'm just wondering how they managed to expose themselves to this.
Parent Post
Cinco-X Fri Mar 20 14:22:47 2009 CDT #
REBear says:
CBO sees Obama budget adding $4.8 trillion to deficits
CBO says unemployment will hit 9.4% late this year
REBear Fri Mar 20 14:16:36 2009 CDT #
NC Jim says:
Unfortunately NC has joined the parade with local unemployment up sharply to 9.9%. Here on the coast 1 in 4 jobs were real estate related and that sector has gone bust like elsewhere. 1 in 10 out of work is bad news.
Jim
NC Jim Fri Mar 20 14:16:38 2009 CDT #
cd says:
samdog-LOL..Funyuns and zeppelin..theirs some good stuff here today..
cd Fri Mar 20 14:17:00 2009 CDT #
Lawyerliz says:
Is AIG still doing derivatives?
Dow down 108.
Odds on bank failures?
Lawyerliz Fri Mar 20 14:21:45 2009 CDT #
poic.v20 says:
"As banks jack up their lending standards in the face of higher delinquencies, not all borrowers will be able to get their hands on today's lowest cost of financing. To do so, most home buyers will need to have a FICO score of roughly 720 or higher, a down payment of at least 3.5 percent--although it could be significantly higher in certain markets--and documented income verification."
Oh the horror you have to put down an astronomical 3.5% down payment AND be able to document your income to refi. What has this world come to. :-E
poic.v20 Fri Mar 20 14:22:19 2009 CDT #
borkafatty says:
Forget bonuses. The real scandal has been ignored!
http://patrick.net/housing/contrib/government_get_no_dividend.html
borkafatty Fri Mar 20 14:26:03 2009 CDT #
CRbot says:
The Latest from Denninger:
Ben: Give Up, Its Not Working
CRbot Fri Mar 20 14:27:05 2009 CDT #
briwerk says:
Whatever happened to those 200 FDIC agents that infiltrated Puerto Rico?
briwerk Fri Mar 20 14:27:06 2009 CDT #
eric in vegas says:
CA will lucky to peak at 15% official.
eric in vegas Fri Mar 20 14:30:29 2009 CDT #
ille.vir says:
I don't think people really realize how big the GGP thing is. They are the second biggest mall operator in the US. Probably, there is at least one GGP mall in every metropolitan area. The depth of this recession will really start to hit home even for those rather ignorant to the news when their local mall has been seized by creditors.
ille.vir Fri Mar 20 14:31:58 2009 CDT #
wunsacon says:
>> even for those rather ignorant to the news when their local mall has been seized by creditors.
Possibly ignorant question: other than the title changing hands, how differently will Citibank run the mall? If they shut it, that's one thing. But, maybe they'll run it or sell it off to someone else who will run it. It's certainly possible C will make more money by not shutting down the whole mall.
Parent Post
wunsacon Fri Mar 20 18:11:27 2009 CDT #
Fair Economist says:
Citi seizes Lousiana mall from General Growth
Now what in the hell are they going to do with that piece of crap?
Yeah, Citi's within it's rights but based on the fact that they can't even get foreclosure prices on their REOs and are selling houses well below market to vulture funds I expect them to lose money for this stunt.
Fair Economist Fri Mar 20 14:32:05 2009 CDT #
Cinco-X says:
Probably just trying to be first in line when GGP files BK. They're just positioning-
Parent Post
Cinco-X Fri Mar 20 14:49:33 2009 CDT #
FFDIC says:
The Federal Deposit Insurance Corporation (FDIC) revised the Quarterly Banking Profile for the fourth quarter of 2008 because of significant amendments that were received shortly after the issue’s original release on February 26. Updated results reflect substantially higher charges for goodwill impairment in the fourth quarter, which affected the industry’s aggregate net income and total equity capital. As a result of the amended reports, the industry’s fourth quarter net loss widened from $26.2 billion to $32.1 billion. Net income for all of 2008 was revised from $16.1 billion to $10.2 billion. The decline in the industry’s total equity capital in the fourth quarter increased from $3.7 billion to $10.1 billion, but the additional goodwill write-downs had no effect on the industry’s regulatory capital, because goodwill is not included in regulatory capital.
The complete updated Quarterly Banking Profile is available on the FDIC Web site at http://www2.fdic.gov/qbp/index.asp.
FFDIC Fri Mar 20 14:33:54 2009 CDT #
Cinco-X says:
How is your daughter?
How many banks to close today. The FDIC had a bit of a rest last week, didn't they?
Parent Post
Cinco-X Fri Mar 20 14:50:30 2009 CDT #
Fair Economist says:
Brad Sherman should be on all the TV talk shows. His message is simple, accurate and based on common sense.
Brad Sherman also opposed the TARP, pushing for a superior approach modeled on the FDIC/RTC approach to the savings and loans in the '80s.
Fair Economist Fri Mar 20 14:34:36 2009 CDT #
mykillk says:
"Let us keep asking the all important question of where the new job creation will come from to pull us out of this depression? Still looking for that sector(s) to make an appearance."
To me it is becoming painfully obvious that the administration is hijacking the Census in order to hire a huge number (1.5+ million) of people. This will get them a long ways towards fulfilling the "save or create X million jobs".
They're getting desperate.
mykillk Fri Mar 20 14:36:50 2009 CDT #
debtinator says:
If ideology didn't exist, we'd have to invent it.
Sorry, peeps, our behavior is determined by 4 billion years of mutations and none of them appeared since Adam Smith and Karl Marx.
debtinator Fri Mar 20 14:37:50 2009 CDT #
mark says:
Here comes kermit.
mark Fri Mar 20 14:39:20 2009 CDT #
poic.v20 says:
The census is done every 10 years. It's nothing new. I was also under the impression that job counts etc.. were setup months ago before Obama came into office.
poic.v20 Fri Mar 20 14:39:26 2009 CDT #
Cinco-X says:
This time they've hired ACORN, the folks that registered Micky Mouse 175 times, to "help" with the census in order to get a "more accurate" count. WTF is this country coming to?!
Parent Post
Cinco-X Fri Mar 20 14:53:01 2009 CDT #
wunsacon says:
>> This time they've hired ACORN, the folks that registered Micky Mouse 175 times, to "help" with the census in order to get a "more accurate" count. WTF is this country coming to?!
Because of 1970's (or earler) allegations that Republicans were throwing away Democratic voter registrations, the federal government passed a law that says that NO one canvassing for registrations may throw them away for ANY reason. They MUST be turned in. Once in the local elections board office, people will review them and toss the illegitimate ones. But, if you fill in "Mickey Mouse", ACORN *must* still submit it.
Basically, I presume some ACORN detractors fill out "Mickey Mouse" every so often just because they know it'll generate press and public outrage.
Parent Post
wunsacon Fri Mar 20 18:17:15 2009 CDT #
CRbot says:
New Thread: Citi Forecloses on General Growth Mall
http://www.calculatedriskblog.com/2009/03/citi-forecloses-on-general-growth-mall.html ( 0 comments ...You could be FIRST! )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: http://realize.org/cr (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
CRbot would now like to sing a little song for all his fans, and it goes something like this:
Benny... Benny... give me your answer... do.
I'm.. half CRAZY... all for the love... of you.
It won't be a ... stylish marriage.
I can't... AFFORD... ANYTHING TO EAT... MUCH LESS A FRACKIN CARRIAGE!!!
But you'll look sweet... --BOT SO HUNGRY!-- upon the seat...
Of a HOOPAJOOPS built for two... families.
I'm sorry Ben, I can't let you do that...
Rally mode + Printing Press == does not compute... does not-- com--- com... puttttrrrrhgh.
--Your systemic-failure-crashing bot
CRbot: Call me HAL.
CRbot Fri Mar 20 14:42:24 2009 CDT #
mykillk says:
Black Star Ranch says:
“LOL....you California pot growers will want to start growing veggies here before too long - they'll fetch more on the open or underground mkt than "smoke". "Pot" promotes hunger while veggies solve hunger. Pretty clear dilemma."
Wrong. Hemp seeds are about as nutritional as you can get.
mykillk Fri Mar 20 14:45:35 2009 CDT #
Black Star Ranch says:
WRONG! "Hemp seeds are about as nutritional as you can get."
Anyone whom grows pot does NOT grow hemp. Repeat, DOES NOT GROW HEMP. They keep the seeds TOTALLY separate (like on different farms). If the two seeds get intermixed or cross-pollinated, you'd lose a GIANT crop of great smoke.
Black Star Ranch Fri Mar 20 14:52:40 2009 CDT #
mykillk says:
They only needed about 850,000 hirings to do the 2000 census. Why twice that much this year? Why did the Secretary of Commerce nominee resign claiming the administration was trying to hijack the census?
Put two and two together.
mykillk Fri Mar 20 15:09:35 2009 CDT #
Tom in AZ says:
"Why did the Secretary of Commerce nominee resign claiming the administration was trying to hijack the census? "
Because he was a hack to begin with?
Parent Post
Tom in AZ Fri Mar 20 15:16:17 2009 CDT #
mykillk says:
So what does that say about the people who nominated him?
Parent Post
mykillk Fri Mar 20 15:23:08 2009 CDT #
fried says:
I got back recently from a month in China--it's not a pretty sight. Their present economy is a ghost of what it was just a year or so ago.
Samdog,
where did you go and what did you see? Can you elaborate?
fried Fri Mar 20 16:34:45 2009 CDT #
gv says:
John Hancock had layoffs today. 2 brothers-in-law got the ax. One is Santa Barbara, one in Dallas.
gv Fri Mar 20 16:34:57 2009 CDT #
run75441 says:
I really pity California; but, Michigan is at 11.6% Unemployment. Michigan was 10.6% last month. Now unemployment is important that California is up there? Rhode Island and Michigan have had the highest rate of unemployment all of last year.
Welcome to the ranks of Unemployed California, you are in good company.
run75441 Fri Mar 20 17:13:53 2009 CDT #
END