Comments for "How Iceland Went Mad"
Nemo says:
Sounds like a good time to visit Iceland and encounter some Icelandic models.
Nemo Mon Mar 30 19:09:03 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/235900106044596277
CRbot Mon Mar 30 19:10:28 2009 CDT #
Tim waiting for 2012 says:
Chrysler/GM gov't backed warranty programs will be open to fraud as all these false claims for repair will flood into the governement. OPEN A CHRYSLER/GM REPAIR SHOP.
Tim waiting for 2012 Mon Mar 30 19:13:33 2009 CDT #
Blackhalo says:
"OPEN A CHRYSLER/GM REPAIR SHOP."
Pfft, just start taking down VIN's in the parking lot and file claims. Medicaid has the same problem AKT some doctors I've heard about.
Parent Post
Blackhalo Mon Mar 30 19:41:00 2009 CDT #
Tim waiting for 2012 says:
CR that article paints a hellava picture.
Tim waiting for 2012 Mon Mar 30 19:13:57 2009 CDT #
Anonymous says:
CR should read comments to his posts. This article came up about 2 weeks back.
Anonymous Mon Mar 30 19:14:10 2009 CDT #
Lucifer says:
But is the rest of the world not Iceland on a larger scale.
Lucifer Mon Mar 30 19:14:20 2009 CDT #
Anonymous says:
I was not thinking that cash emitted by bankrupt government is to be hoarded. What makes cash emitted by such government more valuable for its public? As USA is following the path of Icelena, should I hoard dollars?
Anonymous Mon Mar 30 19:15:55 2009 CDT #
Blackhalo says:
"As USA is following the path of Icelena, should I hoard dollars?"
I would think somthing not dollars would be what you hoard. Gold, commodites, a basket of non-dollar currencies come to mind.
Parent Post
Blackhalo Mon Mar 30 20:37:29 2009 CDT #
comrade mike says:
You better hoard something other than worthless obama dollars.
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comrade mike Mon Mar 30 20:44:08 2009 CDT #
Counterpointer says:
The most rapid expansion of stupidity since tulipomania.
C
Counterpointer Mon Mar 30 19:16:49 2009 CDT #
Angry Saver says:
Okay, I admit it. The Iceland debacle was all my fault. And to think, it all started when I decided to try and make ends meet by exporting a few crates of Koolaide.
Angry Saver Mon Mar 30 19:17:03 2009 CDT #
Nemo says:
So is this where we play that game where you turn "Iceland" into "America" by changing one letter at a time?
So... "Iceland" -> "Ireland" -> ?
Nemo Mon Mar 30 19:18:21 2009 CDT #
mark says:
'An entire nation without immediate experience or even distant memory of high finance had gazed upon the example of Wall Street and said, “We can do that.”'
I knew the U.S. was to blame.
mark Mon Mar 30 19:19:47 2009 CDT #
Nemo says:
Iceland should sue Michael Osinski.
Nemo Mon Mar 30 19:21:55 2009 CDT #
Michael says:
The Tax day Tea Parties are on in over 300 cities. The time for discussion and debate are over. If anyone doesn't like it, They can go F@CK Themselves!
http://taxdayteaparty.com/
Michael Mon Mar 30 19:22:40 2009 CDT #
citiprank says:
OMG... taxdayteaparty.... seriously?
LMFAO... you feel for some stupid right-wing astroturfing group.
LOL.. I thought you were of "mensa quality"
LOL
citiprank Mon Mar 30 19:26:11 2009 CDT #
Blackhalo says:
"OMG... taxdayteaparty.... seriously?"
Well, you have to have some futile misguided protest to let the rabble from getting uppity. If Santelli/Ron Paul did not exist, TPTB would invent one.
You would not want the public to take out thier ire on our banker masters, would you? Yeah that's it. that's the ticket! It's the GOVERNMENTS fault not the bankers. Get mad at Uncle Sam while Fuld, Paulson, Wagonner and Thain walk away with all the money.
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Blackhalo Mon Mar 30 19:32:57 2009 CDT #
Michael says:
Like I said, if you don't like it you can go..........
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Michael Mon Mar 30 20:00:26 2009 CDT #
Lucifer says:
We require a jewbilee like the one in South Park's 'Margaritaville' episode.
Come to think of it, we have helicopter no B-52 ben..
Lucifer Mon Mar 30 19:26:45 2009 CDT #
goadam says:
jewbilee? honestly! jubilee, debt forgiveness that Jews invented.
http://en.wikipedia.org/wiki/Jubilee
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goadam Mon Mar 30 19:50:43 2009 CDT #
Jas says:
--
It only applied to Jews and did not apply to non-Jews.
Jas
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Jas Mon Mar 30 19:58:26 2009 CDT #
Michael says:
Jas, You mean J-People.
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Michael Mon Mar 30 20:06:28 2009 CDT #
Counterpointer says:
Nemo - funny. Ireland lost its AAA today.
I heard the news today, oh boy, sureandbegorrah...
C
Counterpointer Mon Mar 30 19:28:31 2009 CDT #
Anonymous says:
So basically Iceland had a bunch of kids who didn't want to fish, so they made them investment bankers instead?
Anonymous Mon Mar 30 19:29:41 2009 CDT #
Lucifer says:
The obama people are saying that they could not fire pandit because they could not find a replacement.
If this is true.. is that because they were incompetent or the position is toxic.
Lucifer Mon Mar 30 19:31:23 2009 CDT #
Blackhalo says:
Look what the AIG chief is going through with the Bonus flap. Getting reamed by Dodd, who wrote the bonus into the stimulus bill has GOT to be a tough pill to swallow.
Citi would be a tough gig. Where is Iacocca when you need him?
Parent Post
Blackhalo Mon Mar 30 20:06:26 2009 CDT #
EvilHenryPaulson says:
You're kidding me. Iceland has the highest GDP per capita right below Luxembourg and Norway, or right above Ireland, Denmark, Switzerland. No way an economy that strong could go bust
EvilHenryPaulson Mon Mar 30 19:31:44 2009 CDT #
Counterpointer says:
EHP - verb tense violation, that's "had", not "has".
Yours, Linguistics Police.
C
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Counterpointer Mon Mar 30 19:34:23 2009 CDT #
EvilHenryPaulson says:
Michael,
It's not even worth turning up. All the other Tea Parties were so hugely successful they were cancelled for public safety reasons, at least that is what you said happened before when no one showed up
EvilHenryPaulson Mon Mar 30 19:33:57 2009 CDT #
Michael says:
Only the one in Cape Coral for 4/1 was canceled by city council, but it's still on. The story of the cancellation made national and international news.
Parent Post
Michael Mon Mar 30 20:04:04 2009 CDT #
Kung Fu Panda says:
So I should send my resume and cover letter for the Citi job to 1600 Pennsylvania Avenue? I'll be happy to take the helm at Citibank.
Kung Fu Panda Mon Mar 30 19:34:58 2009 CDT #
steinly says:
Article is amusing but shallow.
See the Iceland Weather Report blog for an dissection of it.
No Range Rover's blowing up on daily basis in Reykjavik, although I am sure there have been some discreet "insurance losses"...
The Credit Unions in Iceland, btw, are now blowing up.
Oh, and the export of fish is backing up and storage freezers were filling to overflowing, because importers couldn't get cash or credit to pay for the fish.
Looking like there will be some 1930's style barter soon - fish traded for pasta, red wine, olives, russian oil and polish chocolate
Last I heard the fish exporters were hoping for a surge in demand through Lent...
steinly Mon Mar 30 19:38:29 2009 CDT #
Blackhalo says:
"Oh, and the export of fish is backing up and storage freezers were filling to overflowing, because importers couldn't get cash or credit to pay for the fish."
If only there was some agreed upon medium of exchange. Some form of concentrated value, like gold...
Parent Post
Blackhalo Mon Mar 30 19:45:25 2009 CDT #
mark says:
"If only there was some agreed upon medium of exchange. Some form of concentrated value, like gold.."
Compromise and make it goldfish.
Parent Post
mark Mon Mar 30 19:54:56 2009 CDT #
briwerk says:
So all you guys who are bashing protesters, are you saying that everything that is happening is just fine and there is nothing to protest? If you don't believe that, then its a chicken and egg problem, and while you may be right, its self fulfilling. Perhaps they just need better concerts?
briwerk Mon Mar 30 19:38:47 2009 CDT #
Comrade Kristina says:
Hear! Hear! Blackhalo...Yes, I want to see those who were comlicit in government punished however; there seems to be some kind of disconnect for some people when it comes to the banksters...Just because the government allowed thieves to be thieves doesn't remove culpability from the actual thieves...
Comrade Kristina Mon Mar 30 19:39:00 2009 CDT #
Blackhalo says:
'government allowed thieves to be thieves'
Thieves were writing the cheques to get the government they wanted. The elected will get thiers on election day but the thieves still have all the money.
Parent Post
Blackhalo Mon Mar 30 19:59:02 2009 CDT #
12th Percentile says:
go fish
12th Percentile Mon Mar 30 19:39:08 2009 CDT #
Sue says:
This year doesn't bode well for the Mets, CitiField could be renamed Madoff Field, CitiFolly, Goldman's ugly red-haired Stepchild, AIG by Proxy field, Pandit's Folly.
Sue Mon Mar 30 19:40:26 2009 CDT #
EvilHenryPaulson says:
Counterpointer That's crazy talk. This is just an inventory correction, even a Barclays report quoted by ArtVandelay22 a couple threads back said so.
Just wait until you see the wool, cod, aluminum, and Björk CD export numbers. With such a strong economy they can easily handle a larger debt load than countries with weak economies. Perfectly natural
EvilHenryPaulson Mon Mar 30 19:41:32 2009 CDT #
reptillian says:
Why is Iceland called Iceland and Greenland called Greenland?
reptillian Mon Mar 30 19:42:12 2009 CDT #
Tim waiting for 2012 says:
EvilHenryPaulson
Just wait until you see the wool, cod, aluminum, and Björk CD export numbers
COMMENT OF THE DAY
Tim waiting for 2012 Mon Mar 30 19:44:25 2009 CDT #
EvilHenryPaulson says:
briwerk,
Depends on what specifically is being protested, I withhold judgement on them until then. Myself, I was just making fun of a time when this one poster here spun a prostesterless protest as being pre-emptively cancelled by organizers for safety reasons
However, in response to your question about "nothing worth protesting"... I believe the important choices have been made. I think that's why its called 'cliff diving'; you can see what's going wrong, but your attempts to correct it are futile
EvilHenryPaulson Mon Mar 30 19:46:26 2009 CDT #
Michael says:
It's not a question of "attempts to correct what went wrong", It has to do with fixing it the right way after the crash.
Parent Post
Michael Mon Mar 30 20:12:55 2009 CDT #
Tim waiting for 2012 says:
blackhalo +1
Tim waiting for 2012 Mon Mar 30 19:47:10 2009 CDT #
EvilHenryPaulson says:
reptilian
It wasn't some kind of trick. The 2 settlements they chose in Greenland were actually meadowy green area, especially the spot where Erik the Red settled.
Iceland had a thinner layer of soil and was susceptible to becoming rock/tundra as it was easily exhausted/blown away (topsoil was primarily volcanic ash). End result it was much more grey.
EvilHenryPaulson Mon Mar 30 19:50:22 2009 CDT #
Counterpointer says:
EHP - nice one. Me likum.
Who else can we take apart. Hmmm. SWITZERLAND! Yay, the land where everything is either mandatory or prohibited. Hey, that central bank is sooo going to be able to bail UBS.
C
Counterpointer Mon Mar 30 19:51:20 2009 CDT #
MrM says:
The most rapid expansion of stupidity since tulipomania.
Stupidity? Who is paying whom now? Who ended up with the money and who is holding the bag?
It is the most rapid expansion of oligarchy and cleptocracy
MrM Mon Mar 30 19:56:45 2009 CDT #
Tim waiting for 2012 says:
Compromise and make it goldfish
Good. this room is on fire.
Tim waiting for 2012 Mon Mar 30 19:57:11 2009 CDT #
Bond Girl says:
“You have to understand,” he told me, “Iceland is no longer a country. It is a hedge fund.”
Would be funny if it did not seem so familiar.
Bond Girl Mon Mar 30 19:57:31 2009 CDT #
citiprank says:
Thanks for the great article CR.. really informative
My take away was that I should let my wife manage my 401K.. .and/or find a female financial advisor
citiprank Mon Mar 30 19:57:35 2009 CDT #
Counterpointer says:
International trade skrood, WTO analysts finally wake up:
http://www.joc.com/node/410393
Eek.
C
Counterpointer Mon Mar 30 19:59:13 2009 CDT #
curious says:
<i>This year doesn't bode well for the Mets, CitiField could be renamed Madoff Field, CitiFolly, Goldman's ugly red-haired Stepchild, AIG by Proxy field, Pandit's Folly.</i>
Sue, I'd suggest renaming the team, The Bairs, and the stadium, FDIC Field.
curious Mon Mar 30 19:59:14 2009 CDT #
Magical Thinking says:
Thank you CR, kaput have not heard that word in awhile
Magical Thinking Mon Mar 30 20:00:06 2009 CDT #
Lucifer says:
Times change
"It only applied to Jews and did not apply to non-Jews.
Jas"
Lucifer Mon Mar 30 20:00:21 2009 CDT #
MrM says:
Why can't Congress just give Citi $100 Bil as a special grant for recognizing Citi's contribution to the US economic legacy and stop torturing the taxpayers.
Mark-to-Market Lobby Buoys Bank Profits 20% as FASB May Say Yes
March 30 (Bloomberg) -- Four days after U.S. lawmakers berated Financial Accounting Standards Board Chairman Robert Herz and threatened to take rulemaking out of his hands, FASB proposed an overhaul of fair-value accounting that may improve profits at banks such as Citigroup Inc. by more than 20 percent.
The changes proposed on March 16 to fair-value, also known as mark-to-market accounting, would allow companies to use “significant judgment” in valuing assets and reduce the amount of writedowns they must take on so-called impaired investments, including mortgage-backed securities. A final vote on the resolutions, which would apply to first-quarter financial statements, is scheduled for April 2.
------------------
And check out this photo . Can't think of a more trustworthy image
MrM Mon Mar 30 20:07:47 2009 CDT #
Blackhalo says:
"The changes proposed on March 16 to fair-value, also known as mark-to-market accounting, would allow companies to use “significant judgment” in valuing assets and reduce the amount of writedowns they must take on so-called impaired investments, including mortgage-backed securities."
Who in thier right mind, would invest in, borrow from or loan to anyone under this system. T-Bills are looking might good compared to mark to fiction. This will be the end of trust in the market. The DOW will never see 10K if enacted.
Parent Post
Blackhalo Mon Mar 30 20:12:28 2009 CDT #
Blackhalo says:
"And check out this photo . Can't think of a more trustworthy image"
Hah! a face only a banker could love.
and in the face of a complte meltdown of the financal sector due to unregulated greed we get this:
"FASB’s acquiescence followed lobbying efforts by the U.S. Chamber of Commerce, the American Bankers Association and companies ranging from Bank of New York Mellon Corp., the world’s largest custodian of financial assets, to community lender Brentwood Bank in Pennsylvania. Former regulators and accounting analysts say the new rules would hurt investors who need more transparency, not less, in financial statements."
The best regulation money can buy. I'm sure the language of the new rules was written by the bankers it is to regulate.
Parent Post
Blackhalo Mon Mar 30 20:20:57 2009 CDT #
mp says:
"Sounds like a good time to visit Iceland and encounter some Icelandic models."
Trust me when I say this: Iceland is a sh*%hole. Don't bother.
Reyjavik only looks good if you're running low on fuel.
mp Mon Mar 30 20:08:21 2009 CDT #
steinly says:
BS mp - it is Keflavik that looks good when you're running low on fuel, the airport at Reykjavik has a terrible approach and short badly angled runways
and, now, you better ask nicely, next time you're low on fuel in the "gap" over the North Atlantic...
Parent Post
steinly Mon Mar 30 22:24:31 2009 CDT #
Michael says:
I glad people in England at leas have a set of balls and at least show up to protest the G-20 meeting.
Michael Mon Mar 30 20:08:24 2009 CDT #
Werner says:
<!--StartFragment -->
... resulted from a stunning collective madness...
-------------------------------
This would in no way be applicable to the mad credit-junkies of Amerika ! Haha.
Werner Mon Mar 30 20:12:02 2009 CDT #
CRbot says:
The Latest from Yves:
Guest post: Obama's auto plan: good strategy, poor tactics
CRbot Mon Mar 30 20:12:37 2009 CDT #
MrM says:
The DOW will never see 10K if enacted.
DOW will skyrocket above 10K and only then will it go out with a whimper
MrM Mon Mar 30 20:17:26 2009 CDT #
Counterpointer says:
Oops, Dryships sliding again, note it has only been BCI which has had any appreciable uptick, panamax and supramax have gone nowhere. So, still no forward orders of major bulk factor inputs to any industry. No orders, no inputs, no prospect of making lots of stuff, no buyers at the other end, cos collapsed final demand. Take the market on THAT!
http://www.dryships.com/pages/report.asp
C
Counterpointer Mon Mar 30 20:20:29 2009 CDT #
duke of con dao says:
Counterpointer:
aren't you the one that found a correlation bwt Baltic Dry and Won and made a case that the Won was a better metric?
Parent Post
duke of con dao Tue Mar 31 00:04:41 2009 CDT #
homedad43 says:
Sounds like a good time to visit Iceland and encounter some Icelandic models.
------------------------------
My wife actually suggested that it would be a great summer vacation spot the other week. The model part wasn't in the comment but she was dead serious.
Ah - nope.
Told her that I'd rather spend a week in Dubuque.
homedad43 Mon Mar 30 20:22:09 2009 CDT #
hong konger says:
"We can be like Wall Street"
Uh, who told you that?
"Some guy from Wall Street."
Carry on.
hong konger Mon Mar 30 20:22:37 2009 CDT #
homedad43 says:
As USA is following the path of Icelena, should I hoard dollars?
------------------------------
I don't see us following the Icelandic route, but the article interviews one of the Icelandic bank traders. Soon as he realized what was going down, he hit the forex window and pulled out yen, dollars, euros, etc and then took it home and hid it.
Geez, the banking community attracts the best worldwide.
homedad43 Mon Mar 30 20:26:25 2009 CDT #
debtinator says:
Diceland
debtinator Mon Mar 30 20:29:26 2009 CDT #
Magical Thinking says:
happening is just fine
----------------------------------
No. You have to identify the enemy first. Lot's of Clue and the dust has not quite settled...in the mean time the slow striptease continues. Lot's of fun politics and international intrigue.....
Magical Thinking Mon Mar 30 20:30:22 2009 CDT #
Counterpointer says:
Magical Thinking - apostrophe violation.
Jus sayin'.
C
Counterpointer Mon Mar 30 20:33:32 2009 CDT #
homedad43 says:
you can see what's going wrong, but your attempts to correct it are futile
Ah, jeez, sounds like the Borg.
homedad43 Mon Mar 30 20:35:26 2009 CDT #
Michael says:
What was it, like 8% of the original colonists said F@ck You to the rest of the original colonists, and went in opposition to Great Britain anyway? And a New Country was Born.
Michael Mon Mar 30 20:35:42 2009 CDT #
frazzle says:
random thoughts
administation unwinds aig cds positions at favorable prices to cds holders
banks say we are having a great quarter
market shoots up for 2 weeks
banks say we are not having such a good quarter (i.e. mortgage losses are still higher than expected)
administration can now let automakers fail because cds problem is unwound
market goes down
money heads to treasuries again
gov can now issue more bonds at bargain rates
unemployment sinks the market on Friday
frazzle Mon Mar 30 20:35:49 2009 CDT #
Anonymous says:
Someone might say that the good financially innovative folks in Iceland did not need any enemies when they had friends like this:
http://www.mps-iceland.org/?gluggi=iceland&nafn=iceland/impact
http://www.mps-iceland.org/
http://www.vi.is/files/555877819Financial%20Stability%20in%20Iceland%20Screen%20Version.pdf
So, if you want to have some fun, all you need to do is to search what prof. Gissurarson (a leading Mont Pelerinite in Iceland) wrote about Iceland for the WSJ, both before the crisis and after it...
All this should be kept in mind when reading academic papers written on Iceland´s bankruptcy (with a significant contribution from Icelandic economists), such as Danielsson and Zoega: "The Collapse of a Country",
http://riskresearch.org/
Enjoy!
Chacona
Anonymous Mon Mar 30 20:36:30 2009 CDT #
Anonymous says:
Don't remember where I read it. "The difference between Iceland and Ireland is one letter and 6 months."
Anonymous Mon Mar 30 20:37:11 2009 CDT #
Guest says:
max keiser a couple of years ago on Iceland. You see they work harder than everyone else.
http://www.youtube.com/watch?v=wFzUR1k3ku4.
It reminds of the good chinese wizard in Big Trouble in Little China when asked how he got up there. "It was'nt easy" was his reply. Deux ex machina lite
Guest Mon Mar 30 20:37:39 2009 CDT #
sdtfs says:
"We can be like Wall Street"
Someone should have told them that you can't just go around making huge bets with other people's money,...why, that's the antithesis of our Wall Street scheme!
sdtfs Mon Mar 30 20:38:11 2009 CDT #
Magical Thinking says:
Cointerpointer
Thank you
Magical Thinking Mon Mar 30 20:38:20 2009 CDT #
Anonymous says:
From the Vanity Fair Website:
America Needs to cancel its debt
How badly could the Chinese screw us if they wanted to?
They might be facing the decision that, “If we hold on, you know, we’re left really holding the hot potato.” So, that is a big worry of theirs. I know it’s a big worry of theirs. They’re thinking, “Can we somehow sneak out of some of these decisions without anybody noticing?”
Well, The question now is how will China get rid of the hot potato? Will they send it back to the US by buying goods at inflated prices? Or, will they CONvince a third country? How much will they allow the Dollar to fall before they realize that US has become competitive?
Interesting times ahead indeed.
Anonymous Mon Mar 30 20:38:49 2009 CDT #
Michael says:
Universal USA Bankruptcy Act of 2009
All Government and citizens debts are forgiven.
Parent Post
Michael Mon Mar 30 20:46:59 2009 CDT #
Anonymous says:
Very few countries have the ability to support China's export economy. Count on them being forced to support the US fro years to come.
Parent Post
Anonymous Mon Mar 30 21:16:33 2009 CDT #
homedad43 says:
Counterpointer:
Remember something about Switzerland.
Military service there is mandatory and all reservists are required to keep their weapon in their home in case of need.
Geez, we only have pistols, rifles and shotguns. They've got the makings of a trained militia...
homedad43 Mon Mar 30 20:39:51 2009 CDT #
Blackhalo says:
"They've got the makings of a trained militia..."
and the makings of a militia coup, if the gov gets out of hand. Probably keeps them much more responsive to the public interests. Should be interesting to see how they handle UBS.
Parent Post
Blackhalo Mon Mar 30 20:43:40 2009 CDT #
Counterpointer says:
homedad - good point. But the threat coming doesn't lend itself to a widely-dispersed civilian militia au fait with machine guns. Might help with an uprising, but the people will be thrown into so many referenda they will exhaust themselves before hunting down the gnomes of Zurich in a spirit of vengeance for the country being skrood.
Here, I'm not convinced there is a similar outlet valve.
C
Parent Post
Counterpointer Mon Mar 30 20:44:04 2009 CDT #
yogurt says:
They've got the makings of a trained militia...
And not just "well-regulated", sub super-regulated, just like everything else in Switzerland. Any one who thinks that putting a gun in every house is insurance against having the government telling you how to live should try living there - it's a libertarian's worst nightmare.
http://www.cbc.ca/news/viewpoint/vp_expatfiles/hambley_20050425.html
Parent Post
yogurt Tue Mar 31 02:47:35 2009 CDT #
Blackhalo says:
"Paul Krugman has emerged as Obama's toughest liberal critic."
http://www.newsweek.com/id/191393
Thanks for the link, Tim. It looks to me, that they misse the rood cause of Krugman's recent popularity. He is saying what people are thinking, to people who do not want to hear it.
Parent Post
Blackhalo Mon Mar 30 21:15:12 2009 CDT #
Werner\'s Ghost says:
I realize now -- hi hi -- that China did not get treasuries for flat screens.
They got dollars, which they used to buy treasuries.
Funny how that works.
Werner\'s Ghost Mon Mar 30 20:44:40 2009 CDT #
Counterpointer says:
Werner's Ghost - hehe, they got some dollars, but chekc out the recent flow reports over on Setser. What they've got now is contracting flow and questionable stock. And blowing the stim locally.
Wahay! Great model!
Ghesh.
C
Parent Post
Counterpointer Mon Mar 30 20:48:07 2009 CDT #
lost&confused says:
You know, I have a simple, but limited bloody solution to the war on terror...
The US should tell the OSB family that each of them, the entire family tree, will be wiped out, if anyone of them does not provide intelligence or they do not personally kill OSB and provide the body...
If we are facing an implacable enemy who does not play by the rules, then we must do the same in a surgical way...
The Terrorist must understand the consequences of their actions...
Advantage is that less innocents are killed and those with family ties and most likely to know the where a bouts and support the terrorists, suffer the consequences...
IMHO
lost&confused Mon Mar 30 20:45:24 2009 CDT #
Blackhalo says:
"The US should tell the OSB family that each of them, the entire family tree, will be wiped out, if anyone of them does not provide intelligence or they do not personally kill OSB and provide the body..."
The Saudis would not like that very much. Embargo on!
Plus, without the bugaboo of the "terrorist theat," what would TPTB use to justify the continued erosion of the Constitutions limits on government powers.
Parent Post
Blackhalo Mon Mar 30 20:49:56 2009 CDT #
yogurt says:
The US should tell the OSB family that each of them, the entire family tree, will be wiped out, if anyone of them does not provide intelligence or they do not personally kill OSB and provide the body...
You do remember that Dubya had Bin Ladin family members flown out of the US right after 9/11 for the very purpose of preventing US intelligence agencies from questioning them?
Well-connected Saudis are untouchable. And just maybe that explains why OBL himself is still out there.
Parent Post
yogurt Tue Mar 31 05:28:38 2009 CDT #
dUCKdUCKgOOSE says:
Maybe it explains why BHO's first TV appearance as President was on Arab TV. He's a Muslim.
Parent Post
dUCKdUCKgOOSE Tue Mar 31 09:20:16 2009 CDT #
sportsfan says:
Geez, we only have pistols, rifles and shotguns. They've got the makings of a trained militia...
They may have more automatic weapons per capita (given that they are illegal in many states), but, if you had to go door to door to take over a country, which one do you think would be the harder to conquer?
sportsfan Mon Mar 30 20:47:00 2009 CDT #
Blackhalo says:
"which one do you think would be the harder to conquer?"
Given the terrain? The Swiss, by a mile, as it could just not be done. Look to the Afganistan/Pakistan borderlands.
Parent Post
Blackhalo Mon Mar 30 20:53:35 2009 CDT #
yogurt says:
What terrain? Switzerland's industry is located in the flatlands of the Rhine Valley just across the river from Germany - in some places, on the same side of the river. Very easy for Germany to seize.
Hitler decided to leave Switzeland alone because it was more useful as a financial, trade and transportation hub between Germany, occupied France, and Italy as a neutral country rather than occupied by Germany which would make it subject to Allied attacks.
Parent Post
yogurt Tue Mar 31 05:37:55 2009 CDT #
lawn grass says:
should have never invested in equities. joe q public should not invest in equities. it is a mistake. investing in equities is like flying into blackhole. as you near the event horizon you are torn apart by the gravitational forces.
think of above in a Stephen Hawking voice.
lawn grass Mon Mar 30 20:49:27 2009 CDT #
sportsfan says:
lost&confused,
I think when you say OSB you mean OBL.
Not as interesting as an apostrophe violation, I must admit.
sportsfan Mon Mar 30 20:51:19 2009 CDT #
Lobbyi$t Ben Dover says:
"All Government and citizens debts are forgiven."
Do I get a free toaster for not having any debt?
Lobbyi$t Ben Dover Mon Mar 30 20:52:24 2009 CDT #
Michael says:
I have zero debt also, but I would get the satisfaction of seeing debt slaves freed and the debt slave masters crushed.
Parent Post
Michael Mon Mar 30 21:00:04 2009 CDT #
yogurt says:
No,you just lose your savings. Remember your savings are someone else's debts.
Parent Post
yogurt Tue Mar 31 05:30:00 2009 CDT #
Lucifer says:
This guide provides practical advice on how to deal with the effects financial difficulties can have on your physical and mental health -- it covers:
Possible health risks
Warning signs
Managing stress
Getting help
Suicide warning signs
Other steps you can take
Possible Health Risks
Economic turmoil (e.g., increased unemployment, foreclosures, loss of investments and other financial distress) can result in a whole host of negative health effects - both physical and mental. It can be particularly devastating to your emotional and mental well-being. Although each of us is affected differently by economic troubles, these problems can add tremendous stress, which in turn can substantially increase the risk for developing such problems as:
Depression
Anxiety
Compulsive Behaviors (over-eating, excessive gambling, spending, etc.)
Substance Abuse
http://www.samhsa.gov/economy/
Lucifer Mon Mar 30 20:52:48 2009 CDT #
homedad43 says:
Can I get an apustrophy violation?
homedad43 Mon Mar 30 20:54:20 2009 CDT #
Magical Thinking says:
briwerk
CR and every single person who posts including yourself is participating in protest in a way.
People here are informing and teaching, making you aware
Keep a journal, write you're witnessing things ,make notes
Secure yourself
Speak out
Lot's things to do...some of things may be a done deal matter of dealing with after the fact
Take a deep breath ....relax so you can think
Magical Thinking Mon Mar 30 20:54:44 2009 CDT #
Guest says:
<h1 style="margin: 0pt; font-size: 12px;">“The fault, dear Brutus, lies not in our stars, but in ourselves if we are underlings.”</h1>
Head squabbles in the space station.
http://www.guardian.co.uk/science/2009/mar/31/space-mission-russia-us
Guest Mon Mar 30 20:55:25 2009 CDT #
EvilHenryPaulson says:
Counterpointer,
good one, gnomes in Zurich
re: Swiss military/militia
They keep the rifles, but not ammunition in their homes. There is also a quirk where all buildings must have their own bomb shelters, they were near repealing that law
EvilHenryPaulson Mon Mar 30 20:57:49 2009 CDT #
Bob Seegar says:
BIG NEWS TODAY WAS THE PGBC MEGABILLION $$ HELLHOLE...
A potential powder keg that will make the AIG bonus babies & GM CEO dismissal headlines look like the media diversions "from the real stories" that they truly are...diversions. Media head cheerleader Cramer says there is no catalyst for a potential free fall? Pleeeezzz. http://www.boston.com/news/nation/washington/articles/2009/03/30/pension_insurer_shifted_to_stocks/ This would be the equivalent of learning that the largest flood insurance company in the USA had invested all of it's assets in New Orleans real estate! Is anybody home?
Bob Seegar Mon Mar 30 20:58:50 2009 CDT #
Michael says:
I look forward to the pension system blowing up. 75% of the working population is not eligible to receive a pension, and should not be forced to cover and guarantee, through their taxes, the 25% of the people who are eligible.
Parent Post
Michael Mon Mar 30 21:40:36 2009 CDT #
Blackhalo says:
"75% of the working population is not eligible to receive a pension, and should not be forced to cover and guarantee, through their taxes, the 25% of the people who are eligible."
Pensioners out on the street? I hardly think that is fair, given that the administrators can invest in bad things. Plus, since it is gov regulated, there is some implied responsibility. Is the pension tax deferred?
Parent Post
Blackhalo Mon Mar 30 21:54:32 2009 CDT #
Werner\'s Ghost says:
Bin Laden died. He has a son with a similar voice.
Werner\'s Ghost Mon Mar 30 21:01:26 2009 CDT #
Counterpointer says:
homedad - you can get a 'postrophe violation, esp if you fk up possesives, but you get NO PONIES as a result. Sorry, citizen.
Permanent no ponies list for violators. Naughty.
C
Counterpointer Mon Mar 30 21:02:25 2009 CDT #
Anonymous says:
Chevron said on Monday it has trimmed Cook Inlet oil production as Alaskan and U.S. officials debated whether crude oil stored at a terminal near the base of erupting Redoubt Volcano should be removed.
<tt>At issue is 6 million gallons of crude oil stored in two tanks at the Drift River oil terminal on western Cook Inlet, at the mouth of the river that flows from the volcano. </tt>
<tt>http://www.iii.co.uk/news/?type=afxnews&articleid=7245326&action=article</tt>
<tt></tt>
<tt>The puff of black smoke coming off that little darling would block out the sun.</tt>
Anonymous Mon Mar 30 21:10:10 2009 CDT #
Bond Girl says:
WSJ - General Growth Avoids Chapter 11
On Monday, General Growth said that it concluded efforts to get holders of $2.25 billion of bonds to grant it a nine-month reprieve from paying principal and interest on those bonds. It had three times extended the deadline on its so-called "consent solicitation" because not enough bond holders signed up.
In exchange, General Growth offered the bondholders quarterly payments of 62.5 cents for every $1,000 of bonds, with interest accruing. But that offer wasn't accepted because many bondholders were unwilling to forfeit their ability to demand immediate payment for nine months, these people said. General Growth said Monday it continues to negotiate with the holdout bondholders.
The result is an unusual situation in which borrowers have allowed the due date for corporate bonds to pass without the issuer either paying them or filing for bankruptcy protection. Often when a company defaults on corporate bonds, bondholders will force an involuntary bankruptcy petition.
A person familiar with the bondholder talks said that, while some creditors are angry, none appears ready to insist on an involuntary bankruptcy petition yet. It is possible that bondholders didn't go along with the consent solicitation primarily because they feared that making such a pledge would reduce the value of their bonds.
General Growth has told lenders that they'll have more influence over the outcome if it restructures outside of bankruptcy court, according to people familiar with the talks. A bankruptcy filing could force the company to liquidate its assets for less than the whole company would be worth if it remained a single entity for the long term, these people said.
Another deterrent to an involuntary petition is that bankruptcy wouldn't bring immediate payment of General Growth's debts. "It's such a large company that the bankruptcy would definitely last at least a couple of years," said Heidi Sorvino, a lawyer leading the bankruptcy practice of law firm Smith, Gambrell & Russell LLP.
The timeframe could be shorter if General Growth did a prepackaged bankruptcy in which the creditors agree to terms prior to the company entering bankruptcy, Ms. Sorvino added. But wrangling so many creditors without the threat of a judge making and enforcing decisions is "almost impossible," she said.
http://online.wsj.com/article/SB123842063675069619.html#mod=testMod
Bond Girl Mon Mar 30 21:10:19 2009 CDT #
Magical Thinking says:
Swiss
Known for their trustworthiness
(mercenary units)
Everyone HAS to go skiing once a year....
Clocks and chocolate
Long history of repelling attack and maintaining independence
Diverse regions culture language
I don't see that going down in a whimper
Magical Thinking Mon Mar 30 21:10:28 2009 CDT #
Loot and Scoot says:
Zurich gnomes- I do believe that was lifted from Elaine at Culture of Life News. She of the mystical descriptors. My favie fave is the cave of wealth and death. Inextricably linked.
http://emsnews.wordpress.com/2009/03/28/obama-meets-with-banking-gnomes-who-scream-at-him/
Loot and Scoot Mon Mar 30 21:11:38 2009 CDT #
Blackhalo says:
<h1 id="firstHeading" class="firstHeading">Gnomes of Zürich</h1>
"The term was coined by the British Labour Party politician Harold Wilson, then Shadow Chancellor, in 1956 when he accused Swiss bankers of pushing the pound down on the foreign exchange markets by speculation."
http://en.wikipedia.org/wiki/Gnomes_of_Z%C3%BCrich
Looks like it has been around for a while. I first heard it by playing Jackson's Illuminatti.
Parent Post
Blackhalo Mon Mar 30 21:19:24 2009 CDT #
Broward Horne says:
"homedad - you can get a 'postrophe violation"
-----
Back off, C.
Homedad don't swing that way.
The data on the drydock index is interesting. I suspected the rebound was mostly deadcat bounce but it's nice to have it (sort of) validated.
Broward Horne Mon Mar 30 21:17:14 2009 CDT #
Counterpointer says:
Broward - chill, the whole 'postrophe violation thing is a complete frivolity.
C
Parent Post
Counterpointer Mon Mar 30 21:23:17 2009 CDT #
Counterpointer says:
lucifer - that's a fantastic warning signs list. Basically WASS, I've annotated below:
<ul>
<li>Persistent Sadness/Crying - I weep for my puts (Eric!), and currency plays.</li>
<li>Excessive Anxiety - define excessive, I think most of us here are rational. "Excessive" is highly subjective and I wouldn't want a shrink put in charge of it in this environment. </li>
<li>Lack of Sleep/Constant Fatigue - does since September count? Huh? Well, at least I nap. </li>
<li>Excessive Irritability/Anger - at the most naked looting of the taxpayer in a hundred years? Are you shttng me? </li>
<li>Increased drinking - the finest IPA in America is still the finest IPA in America, so what's the freaking problem? </li>
<li>Illicit drug use, including misuse of medications - is this a trick question about the finest IPA in America? Huh? </li>
<li>Difficulty paying attention or staying focused - only across several screens of cascading sh!tpile data daily which makes the Matrix look slow. Any questions??</li>
<li>Apathy - not caring about things that are usually important to you. What the fk is that about? Who cares. </li>
<li>Not being able to function as well at work, school or home - errmm, define "function", because the previous functionality was clearly superior. Ummm, not. My risk/reward has gone through the roof in the crisis. </li>
</ul>
<h2>C</h2>
Counterpointer Mon Mar 30 21:20:40 2009 CDT #
Guest says:
Is anybody home? Is there anybody out there?
http://www.youtube.com/watch?v=Kpy7seH5Hc8&feature=related
Pink floyd no need to link
Guest Mon Mar 30 21:24:23 2009 CDT #
Blackhalo says:
"Is anybody home? Is there anybody out there?"
Would not something from DSM be better? I mean the theme IS things that drive men mad...
Parent Post
Blackhalo Mon Mar 30 21:31:34 2009 CDT #
homedad43 says:
Broward:
While I love Smilin' Bob in a bro' kind of way, what did I just step into?
Sometimes it doesn't pay to be a wiseass...
homedad43 Mon Mar 30 21:25:14 2009 CDT #
briwerk says:
This is a test of the CRbot synchronization system.
briwerk Mon Mar 30 21:27:12 2009 CDT #
Guest says:
counterpointer if we did a one to five pointer your nine questions I hit 36
Guest Mon Mar 30 21:28:42 2009 CDT #
Counterpointer says:
Guest - well done working through the format sh!tpile - it was looking so god before I posted it.
So, at a 36, you're what, prefectly rational and well=placed for future challenges? (Thinking 1 - 5, 9 questions, sounds pretty good).
C
Parent Post
Counterpointer Mon Mar 30 21:37:25 2009 CDT #
hong konger says:
Thanks for that GGP update- BG
Just another reason to hold a controlling interest in a security. Probably the first priority, regardless of price.
On a personal note, Smith, Gambrell has done some work for me in the past. Good folks.
hong konger Mon Mar 30 21:33:23 2009 CDT #
1 currency now [yogi] says:
SIPC says they have the money "to cover all legitimate Madoff fraud claims." They have 1.6 billion in reserve and 1 billion recovered from Madoff. Supposedly there are 5000 claimants. SIPC disputes that everyone is out $500,000, but their formula is being challenged. If they did have to make full payouts, that would leave them with 100,000,000.
Or enough to cover the next 200 people.
1 currency now [yogi] Mon Mar 30 21:34:25 2009 CDT #
Splat says:
Hey !! Perhaps this is the best time to restart colonialism ! Larger countries just buying smaller ones, or smaller ones with cash buying the bigger ones ;)
"Ceberus to buy Iceland ! Germany buys rest European union for $100 billion and a case of beer. Scotland purchases England for 0.0003 pence on the GBP"
Splat Mon Mar 30 21:35:26 2009 CDT #
Broward Horne says:
A joke, C.
That comment was pretty funny.
Off to free pool.
Broward Horne Mon Mar 30 21:36:22 2009 CDT #
purple says:
BDI index is sliding again. I think the uptick was just China restocking on the cheap.
purple Mon Mar 30 21:37:54 2009 CDT #
Counterpointer says:
purple - ceratinly was, it was Ch metals dudes getting in on Aussie base metals. Let's not expect that to last. Big skew to the south.
Don't ask me for a link or how I know this.
C
Parent Post
Counterpointer Mon Mar 30 21:42:23 2009 CDT #
CRbot says:
New Thread: The End of the GM Hummer on Tuesday?
http://www.calculatedriskblog.com/2009/03/end-of-gm-hummer-on-tuesday.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 Mon Mar 30 21:40:24 2009 CDT #
Guest says:
o, at a 36, you're what, prefectly rational and well=placed for future challenges? Nope
Guest Mon Mar 30 21:48:18 2009 CDT #
briwerk says:
This is a test of the CRbot synchronization system.
briwerk Mon Mar 30 21:56:23 2009 CDT #
toobigtofail says:
<cite>www.ebri.org/pdf/notespdf/EBRI_Notes_03-20071.pdf</cite>
According to SIPP,
42.7 percent of those ages 65–69 had pension income from either their own former employer or their
spouse’s in 2003. This number increased with age, reaching 48.2 percent for those ages 80 or older.
toobigtofail Mon Mar 30 22:17:19 2009 CDT #
Char says:
Too few women in the Icelandic banking system caused its downfall...
Char Mon Mar 30 22:43:00 2009 CDT #
Anonymous says:
quote of the year, without question:
"the most rapid expansion of a banking system in the history of mankind."
Followed by the most rapid decline...
:(
Anonymous Mon Mar 30 22:50:55 2009 CDT #
duke of con dao says:
was it Black Halo that said taking over Switrzerland would be more difficult? really? have you ever spent much time in that country? I think not... a German speaking Swiss isn't quite like an Italian speaking Swiss, and so on... divide and conquer...
please go back to the speech about the Swiss and the Renaissance in the ferris wheel given by Harry Lime (Orosn Welles) to Joseph Cotton's character in Carol Reed's The Third Man. And then think again about everything that has been said in these comments...
duke of con dao Tue Mar 31 00:17:14 2009 CDT #
yagij says:
another crc test
yagij Tue Mar 31 04:44:32 2009 CDT #
yagij says:
another crc test 2
yagij Tue Mar 31 04:48:51 2009 CDT #
yagij says:
another crc test 3
yagij Tue Mar 31 04:52:31 2009 CDT #
yagij says:
another crc test 4
yagij Tue Mar 31 04:56:37 2009 CDT #
yagij says:
another crc test 5
yagij Tue Mar 31 05:00:44 2009 CDT #
Werner says:
Werner's Ghost says:
.....
I do have a ghost now ? -- hi hi --
Welcome ghost !
Werner Tue Mar 31 06:25:27 2009 CDT #
dUCKdUCKgOOSE says:
Hopefully the Hummer is finished...I hate that SUV, and not for it's gas guzzeling. I only like it if a hot chick is driving.
dUCKdUCKgOOSE Tue Mar 31 09:19:11 2009 CDT #
END