Wasn't "Project Beige Book" some UFO thing?
- Nemo
Project Blue Book
Wasn't "Project Beige Book" some UFO thing?
- Nemo
Project Blue Book
The rocks were hit. Now the question is whether it is an ambulance or a hearse that is called to the scene
Unstable, financially troubled regime currently in possession of enough uranium to make a nuclear bomb. North Korea? Iran? Nope. Guess again ......
http://www.bloomberg.com/apps/news?pid=20601109&sid=aNJJYNBs1rQA&refer=home
"We're Boned"
- Bender
It was assumed the aliens came to steal our women. So they renamed it Project Little Black Book.
I miss CRbot. I hope his second career as a Japanese Fembot works out.
These idiots cannot seem to figure one important fact..
The system, as it exists, cannot work in an environment with slower or negligible growth. It will collapse if growth does not resume.
Sure, it was gamed for the last 30 years, but I am not sure that past performance is a guaranty of future results.
The powers that be are busy trying to turn a sow's ear into a silk purse, beige colored.
It could be worse.. GS could have more uranium...
//Unstable, financially troubled regime currently in possession of enough uranium to make a nuclear bomb. North Korea? Iran? Nope. Guess again ......//
How can a system that is optimized for short term shareholder gain ever create more jobs if the overall market is shrinking?
Think about it- The system worked for so long only because the market size was increasing.. the current shareholder-biased system cannot work unless there is a continuous increase in market size.
CRE will be crushed this year and into 2010.
Doesn't sound good for REITs.
----
"no one is pricing in low, mid teens unemployment in any of their assumptions." - Meredith Whitney
Yowch...so I guess we know why Obama was out 'managing expectations' yesterday
What .. me worry?
______________
Calpers May Buy TARP Assets on 'Glimmer of Hope' (http://www.bloomberg.com/apps/news?pid=20601087&sid=at8Z943Q4ByY&refer=home)
By Saeromi Shin
April 15 (Bloomberg) -- The California Public Employees' Retirement System said it plans to buy assets of Citigroup Inc. and other financial companies under the U.S. government's $700 billion Troubled Asset Relief Program.
Calpers, as the largest U.S. public pension manager is known, is setting aside "billions of dollars" and is ready for more investments, Henry Jones, a Calpers board of administration member, said in a speech in Seoul.
The fund may buy "assets of these financial companies such as Citi and the others, assets that they're trying to get off their balance sheets," Jones said in an interview after the speech. Pension funds in Massachusetts and other states are also considering expanding their holdings of so-called distressed assets.
Does it matter?
____________
Bank Data May Be Released in Late April, Early May, Gibbs Says
By Hans Nichols
April 15 (Bloomberg) -- The government will release the results of "stress tests" on banks in late April or early May, White House Press Secretary Robert Gibbs said.
" Oh look Honey a Deer in our Headlights "
Well, I missed it earlier, but you know what else has returned to its 1946 level? America's domestic oil production.
Yancey Ward wrote:
I miss CRbot. I hope his second career as a Japanese Fembot works out.
He still lives in the IRC world. He now gets comments from both CR and Mish and aggregates posts from CR, Mish, Yves, Zerohedge, maybe others as well.
" Lucifer (member) wrote on Wed, 04/15/2009 - 11:17am.
How can a system that is optimized for short term shareholder gain ever create more jobs if the overall market is shrinking?
Think about it- The system worked for so long only because the market size was increasing.. the current shareholder-biased system cannot work unless there is a continuous increase in market size. "
I think that is a really good point. Also, although the economy is stabilizing, for now, at a lower level, how much risk is there that this is just a resting spot on the way to an even lower low. Sort of an extension of your point - does the economy work in reverse?
Specifically, the economy may settle for now at today's lower level, but that level is dependent on people supported by unemployment insurance, living off whatever meager savings they have, support from parents or relatives, etc. If significant growth doesn't return, these supports run out, and we move to a new, even lower level of activity, etc.
Just printing dollars doesn't get you out of the problem.
This is probably part of what Jas is thinking when he envisions deflation - it is called a "spiral" for a reason.
OT-- I apologize if someone already mentioned this, but in today's SJMN article, "Defaults rise but foreclosure sales slow": "The county's (Santa Clara) numbers were mirrored statewide (CA), where March notices of default increased nearly 30% over February, to a record 54,268 filings, and sales at auction dropped 41% from the previous month. Sales decreased 36% from the previous year." In Santa Clara county, March saw a record 1,556 NOD up 6% from February, but only 247 sales of foreclosed homes, a drop of 41% from February and a drop of 27% from a year ago.
Dave in SV
I see eye sores. Empty commerical buildings with Bruce Willis as a bando.
This is mildly interesting.
_______________
Analysts cut Goldman Sachs to neutral
Valuation-driven downgrade comes on heels of blowout earnings, capital raise
(http://www.marketwatch.com/news/story/Analysts-downgrade-Goldman-Sachs-neutral/story.aspx?guid={CCD7D6C0-0ED1-42B0-B483-EB2BCDE3CA9C})
By John Spence, MarketWatch
Last update: 12:30 p.m. EDT April 15, 2009
BOSTON (MarketWatch) -- J.P. Morgan on Wednesday downgraded shares of Goldman Sachs Group Inc., which have risen nearly 40% so far this year, in the wake of the bank's surprisingly upbeat earnings and common-stock offering.
The downgrade "is based on the valuation being unattractive," said the analysts, who cut the stock to neutral from overweight.
calpers and pension funds are thinking of doubling down. When they sell all their stock and transition to vanilla bonds let me know cause I think at least a sustainable bottom is in when they do
That oh so elusive bottom. It's been coming for months now. Tell me, Mr. Owl, how many licks does it take to get to the bottom of a bottomless decline?
" Lucifer (member) wrote on Wed, 04/15/2009 - 11:22am.
What .. me worry?"
CALPERS is a joke, If I were a pensioner dependent on their investments, or a CA taxpayer who will ultimately have to bail the pensioners out, I would literally be up in arms about the mismanagement of that institution.
The only bottoms that interests me are on hot toned women between 15-30.
And we have this from Bloomberg:
Economy's Contraction Slows Across Some of Biggest U.S. Regions, Fed Says
That goes with the Marketwatch "homebuilder confidence soars" on a 50% gain from 9 to 14.
"The situation in Thailand is part of a much larger issue. Despite a few silver linings here and there, the economic crisis remains a very dark cloud hanging over every region. East Asia in particular is suffering because most countries there have underdeveloped domestic demand and a disproportionate reliance on exports for growth. With the world's rich consumption centers cutting spending at every turn, the pounding of Asian manufacturers is continuing. In response, they are slashing wages and hours and laying off workers."
Pavel Chichikov
Ah, so this explains why SPG is up 9% right now.
--
The Zombie Apocalypse begins when U3 hits 15%
"hot toned women"
------------
I prefer women under 200 lbs, myself.
BBAD to the bone.
Dandelion salad, anyone? Or some batter-fried squirrel?
Saw this and thought of all the squirrel talk on here! LOL
http://articles.moneycentral.msn.com/CollegeAndFamily/RaiseKids/live-off...
Some people take them seriously:
http://afp.google.com/article/ALeqM5g9SlBpfbdNJ5Sml6ZR1ROk1DoR1A
Pavel Chichikov
How do you refresh comments now?
Pavel Chichikov,
I have said the same thing time and time again.. consumerism is the most benevolent religion.. we might as well ban all religions including environmentalism and make consumerism the only true religion.
Consumers are more important than producers, as jobs are based on paying money.. money is not real (it is notional) and using money requires a functional and stable socio-economic system.
Fewer consumers = fewer jobs = reduced velocity of money = more poverty = more instability = further reduction in jobs and money velocity = ultimate collapse and anarchy
Off-topic regarding the "Jim The Realtor" video:
$500K for a foreclosure in Chula Vista?!?! I haven't lived in San Diego in over ten years, but, am I missing something here? Are we talking about the same Chula Vista that borders, well, the border? The same Chula Vista that's located snuggly between the Tijuana River and National City? And this cookie-cutter gem on a 5,000/SF lot has 40 offers? Can somebody explain this one to me, because I'm at a loss.
Broward Horne,
I prefer women under 140 pounds.. unless they have incredibly good skills at..
Beware this "left wing versus right wing" dichotomy. This is an attempt to trick us into arguing with each other instead of uniting against the common cause of our problems.
Yes, industries left our nation for China under the Bushes but it also did so under the Clintons! The loss of manufacturing has continued unimpeded through every Presidency for the last 30 years, Republican and Democrat alike.
Has Obama reversed the tax credits, to bring those jobs and manufacturing back home? No? Bad, bad, BAD right wing President Obama. Oh wait, he's a lefty!
The only real divide is the one Ill mention, The top one percent that owns it all against the 99% of us being driven into poverty. The poor against the oligarchs.
Let the battle begin.
15's cutting it a bit close, isn't it Lucifer?
Borocco Mama,
If she has to shave it.. I think she is old enough.
I don't like small cars /
or real big women /
But somehow I always /
Find myself in 'em
Means tested socialism at work
/I don't like small cars /
or real big women /
But somehow I always /
Find myself in 'em//
"Can somebody explain this one to me, because I'm at a loss"
----------------
Well, then, stop buying expensive foreclosures in Chula Vista.
Those weights need to be assigned respective heights. 5' 10" and 140lbs....Okay. 5' 2" and 140lbs....overly cushiony....not to my liking.
Damn....you really are Lucifer.
Consumer pullback.. See especially comments by Walmart CEO:
http://news.yahoo.com/s/nm/20090415/bs_nm/us_retail_economy
Pavel Chichikov
It does depend on age, attitude and her skills
//5' 2" and 140lbs....overly cushiony....not to my liking.//
Pavel, will you please sign your name to your posts? Otherwise, I don't know it's you. Thanks.
"There's still a lot of stress," Wal-Mart CEO Mike Duke said on a taped interview on NBC's "Today Show."
"It's not a 'V' recession, where we're just going to bounce out and come back," he said.
"Stabilizing at a low level..."
Indeed.
People are not only withholding money from the system, they are also withholding their energy. Consider the workers who are left behind when a company sheds jobs. They wisen up. They start adjusting their enthusiasm for their work - why try harder if you're just going to get laid off yourself anyway? As processes in the workplace become more complex and driven, workers begin "checking out" mentally -- this is the only alternative to cracking up and not surviving. They no longer wish to give their all to a company they understand is essentially disloyal to them. Instead, they re-prioritize their energies - both on the job and off. They stop answering urgent e-mails right away, developing a better sense of what can wait and what can't. They might do selected things with the same attention they always did, but begin neglecting what they judge to be unending drains on their time and attention that will not get them ahead if they respond to them.
This is how people adapted in the Soviet Union, of course. It's becoming the American mindset (and, I think, so is the command economy...) You see, Americans are not really special in the end. It was the raping of the natural resources (stolen from the Indians) and the conquering of the world and the funky financial funnybusiness that made us so "can-do." When the system begins to collapse, ordinary Americans begin conserving their energy and can no longer be tricked into giving it up, unless the government puts on the grandest razzle dazzle scheme of all, the World War. (aka the Holy War)
And even that has diminishing returns after a while.
FFDIC posted this originally - It really is good. As a matter of fact, it is outstanding.
http://www.youtube.com/watch?v=2XVR9AKZOu4
.............................
If you don't take your profits, someone else will.
In the old SU one of the popular jokes involved something about pretending to work because they are pretending to pay.
//This is how people adapted in the Soviet Union, of course. It's becoming the American mindset (and, I think, so is the command economy...) You see, Americans are not really special in the end. It was the raping of the natural resources (stolen from the Indians) and the conquering of the world and the funky financial funnybusiness that made us so "can-do." When the system begins to collapse, ordinary Americans begin conserving their energy and can no longer be tricked into giving it up, unless the government puts on the grandest razzle dazzle scheme of all, the World War. (aka the Holy War)//
"Pavel, will you please sign your name to your posts? Otherwise, I don't know it's you. Thanks."
This is the way they appear on my screen:
'Consumer pullback.. See especially comments by Walmart CEO:
http://news.yahoo.com/s/nm/20090415/bs_nm/us_retail_economy
Pavel Chichikov'
Pavel Chichikov
"It was the raping of the natural resources (stolen from the Indians)." I thought they were Native Americans. Don't the Indians live in Asia?
"In the old SU one of the popular jokes involved something about pretending to work because they are pretending to pay."
Yeah, we'll really have achieved Soviet status when people begin joking as openly among themselves as the ordinary Russian did passing around the vodka. We're not there yet. Too many "can-doers" still infesting the workplace because they're in La-La land about where this is going.
Beige book for a blue economy where the rich are in the green and the rest of us, done brown, see red.
A few pink slips away.
//Too many "can-doers" still infesting the workplace because they're in La-La land about where this is going.//
" Instead, they re-prioritize their energies - both on the job and off."
---------
I used to put in 15-20 hours of my personal time into technology - downloads, reading, coding, testing, etc
In the end, it didn't buy me much except hostility from less motivated co-workers.
The current system doesn't account for that.
I shifted my time to my website a couple of years ago and luckily.... to sex last year.
PS... I do not wish to imply that Russians or former Soviets are naturally lazy people. On the contrary, they have tremendous soul.
"I shifted my time to my website a couple of years ago and luckily.... to sex last year. "
Maybe lucky for you, but not for the animals.
Good Gad, how do you guys keep up with the mega postings?
And the ugliest men I've known somehow didn't have any idea that they were actually
limited in their choice of women.
And they weren't rich either.
http://finance.yahoo.com/news/Capital-Ones-card-defaults-apf-14934575.ht...
credit cards not being paid off? hoocoodanode!
Understanding, and freeing oneself, from the marriage scam does wonders to a man's outlook.
//I shifted my time to my website a couple of years ago and luckily.... to sex last year.//
FFDIC and popeye,
Thank you for the Susan Boyle youtube link. Truly outstanding.
"Understanding, and freeing oneself, from the marriage scam does wonders to a man's outlook."
And to a woman's as well.
Being ugly is unfair. Being beautiful is unfair. It is especially unfair when ugly people chase beautiful people around. Leave the beautiful people alone.
I just had an India born lady come in on a minor matter and she said that her
name for India was Bharad.
I said I thought it was Majasomething and she said that was in the North.
So the American Indians were named after a place that didn't exist, except in the
minds of Westerners?
Maybe lucky for you, but not for the animals.
Well played Elvis
--
The Zombie Apocalypse begins when U3 hits 15%
Yet Goldman Sachs added SPG to their conviction buy list today, according to Zero Hedge. I guess that explains the pop in SPG shares today. GS must have significant exposure they need to dump quickly. There is no other logical reason for this call that I see looking at the macro data.
Elvis writes:
"..., but not for the animals"
The King still lives!!!
Those Anonymi were me.
Lawyerliz.
Maybe lucky for you, but not for the animals.
Nice to see you back, Elvis.
If that is the case, why are women obsessed with marriage? and living with cats when they are old?
//And to a woman's as well.//
"Maybe lucky for you, but not for the animals"
-------------
Me, being robbed at gunpoint by Doctor J.
http://www.realmeme.com/roller/page/realmeme?entry=doctor_j
Now stop distracting me, I have to mail tax crap and convince offshore recruiters that I have no interest in Chicago.
'Bharat' not 'Bharad'
WASHINGTON (Reuters) - The U.S. government will release some results of its bank stress tests in May with the goal to stabilize the ailing banking sector, the White House said on Wednesday
"Early in May you will see in a systematic and coordinated way the transparency of determining and showing to all involved some of the results of these stress tests," White House spokesman Robert Gibbs said. "Our hope is that banks that are not healthy, or need help, will first and foremost seek that help privately, and then we'll take steps from there to assist them," he said.
Thought I saw Elvis @ a 7-11 buying a big gulp and a foot-long hotdog, but it may have been just any old overweight middle-aged drug addict
Cause in May, the economy will be soooooooooooo much better.
"Early in May" translates to any time before the 15th, and probably not a day sooner
Early in May you will see in a systematic and coordinated way the transparency of determining and showing to all involved some of the results of these stress tests
Someone really wanted to put "transparency" in a sentence where it doesn't belong.
--
The Zombie Apocalypse begins when U3 hits 15%
Broward Home,
I'm not buying any properties. I'm not even in California. Just asking why there is such a demand for a $400-$500K foreclosed property in this location.
Posted this on the previous thread - more appropriate here:
Had conversations today with a number of biz buds... it surprises me how few of them understand the c-change that has occurred. I tell them they have to adjust to a 'low cost mode' and not be pushing 'growth at any cost'... pushing growth at any cost will burn up resources needed to keep the organization alive through this period. They all look at me like I'm a traitor or heretic.
Had more conversations with same company & different people. One observation - those closest to the financial end of the company are in complete 'shock' over how fast things have fallen off from 'forecast'... those on the process side of the biz or pressing flesh w/ customers are decidedly NOT shocked or even surprised things are in the crapper. I bet the beige bookers are more of the financial persuasion and in the 'shocked' camp.
One thing I keep emphasizing to my contacts is this period requires a totally different biz strategy than most of these yahoos have ever experienced - they need to go from 'growth' as a main focus to 'lower cost' as the primary focus... many aren't prepared for this because the biggest cost is frequently 'fixed overhead' meaning THEY are the cost. To effect the strategy means they have to eliminate themselves. Gulp.
That is one of the reasons this 'recovery' is going to take so long.
"Someone really wanted to put "transparency" in a sentence where it doesn't belong."
Great catch. That sentence barely scans as English.
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Wow. 30y UST 3.65 to 3.71 to 3.65 in less than 8 hours.
Funny that. Debt like opiates require higher dosages in smaller intervals to maintain the pain killing effect.
The USA is reaping a long dilated karmic retribution for the Opium wars of long ago.
As China gobbled our precious metals in exchange for valuable goods and services it created hard money supply imbalances.
That was corrected by military coercion and mass forced addiction to narcotics.
The apprentice has overshadowed the wizard.
We are slaves to the greater opiate supplied by the former downtrodden colony.
America, the original colonists, now a penal colony of addicts.
No longer producers, but exchangers of pretty paper, for a supply line many, many miles away.
And so easily disrupted. And so easily evaporated.
" many aren't prepared for this because the biggest cost is frequently 'fixed overhead' meaning THEY are the cost. To effect the strategy means they have to eliminate themselves. Gulp."
That is their incentive to lie and cheat and steal. Right Wall Street?
BH, Good choice for last year, some so good it made you cry, remember......
mal wrote on Wed, 04/15/2009 - 12:07pm.
Great catch. That sentence barely scans as English.
I think that sentence was intended for one of Obama's speeches.
Lucifer (member) wrote on Wed, 04/15/2009 - 12:40pm.
Borocco Mama,
If she has to shave it.. I think she is old enough.
Yuck, you two. Get a room.
- Emma Anne -
America, the original colonists, now a penal colony of addicts.
If people are being held up for bad things they've done, and you want to compare me to China, I'm so there.
No longer producers, but exchangers of pretty paper, for a supply line many, many miles away.
And so easily disrupted. And so easily evaporated.
Poor China. Dancing forever on a razor's edge in exchange for worthless betting slips.
Both China and America are victims in this, both went willingly to the abbatoir.
Nobody comes away a winner from the first global capital bubble. Watch and see.
Amen, Byz
Lawyerliz
BUT YAHOO SAYS
"Stocks Gain in Late Trade After Beige Book Shows Signs of Economic Life"
"The USA is reaping a long dilated karmic retribution for the Opium wars of long ago."
China fought the Opium wars against the British. Good Christ, you could at least double check with wiki or something before you make a fool of yourself.
Elvis, How do you know, are you Dr. Doolittle? The animals could ahve loved it. Just because in Deliverence "squeel like a pig" had a negavite connotation, it doesn't have to be so for pigs.
What the government will or has to do is increase the size and coverage of the safety net.
"Beware this "left wing versus right wing" dichotomy. This is an attempt to trick us into arguing with each other instead of uniting against the common cause of our problems."
- the left, in general, feels that the workingman should share in the profits of his labor, while the right, in general, feels the workingman should be satisfied with the scraps from the master's table, so to speak. So don't give me any of that "there's no difference" bulls#!t. There's plenty of difference.
On another note, it's amazing how fast you can get through a thread if you skip past any comments by lucifer, Borocco Mama, and Broward Horne, to name but a few.
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