Hey Michael - what does TARP stand for?
Damn it feels good to be a gangsta! WAHHOOO ! ! ! 
Hey Michael - what does TARP stand for?
Damn it feels good to be a gangsta! WAHHOOO ! ! !
The problem with the TARP is obviously too much oversight.
- Nemo
Government-financed leverage presents a great incentive for collusion between the buyer and seller of the asset.
Ya think?
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The PPIP program, IMO, is a product of ethical corruption.
Just like Susan Harman.
Same story. Ethical corruption makes it all possible.
"Ethical corruption makes it all possible"
-------------
Can I use this for my company motto?!
I saw pigs flying today
____________________
What we will miss about the prophets of doom
By David Marsh
Published: April 20 2009 20:44 | Last updated: April 20 2009 20:44
For two years now, we have collectively gorged on tales of tears and deeds of downfall. If the bulls really are back and the economic and financial misery is about to end, here are 16 reasons why we will miss the gloomy times.
1. Role-play will be a lot less pleasurable. We have split the world into two pantomimic parts: the evil (the bankers) and the good (everyone else). In future, sorting out villains and victims will require more imagination.
2. The crisis has favoured inexpensive, socially constructive pastimes such as bird-watching, book-reading and communal needlework. More aggressive activities will soon be on the rise again.
3. The prophets of doom have had a field day. Yet we feel strangely comfortable with the Cassandras. We have enjoyed being told that the light at the end of the tunnel signals an approaching train. Now we will have to get re-acquainted with the optimists – a much more dangerous and unsettling bunch of people.
"Can I use this for my company motto?! "
Feel free, just don't credit it to me.
Yay, some unelected bureaucrat has the gall to give an honest and professional appraisal of the criminal activity in our capitol. Does he think it will make a difference? Do you?
The TARP report was very condemning and recommended nationalization and the removal of management. Of course the two Republicans refused to sign off on the report but the academics and bureaucrats weren't afraid. Haven't seen those recommendations followed up on by the Congress that asked for the report. Funny that.
Guehtner and the other Masters of the Universe must be running around like crazy people trying to hold this thing together. If it wasn't so serious it would be hillarious.
I have been saying that for some time.
// If it wasn't so serious it would be hillarious.//
No more Mini Me? WTF??
Re: " Last week, the White House announced it had nominated Herbert Allison, the president and CEO of mortgage behemoth Fannie Mae, to replace Neel Kashkari, an assistant Treasury secretary and a holdover from the Bush administration.
In a response to Barofsky's report dated last week, Kashkari acknowledged that "there are risks associated with investing in or lending against legacy assets, which is in part why markets for them are currently frozen." Kashkari said Treasury was considering Barofsky's recommendations."
I really should get back to watching the news, this is such bullshit to have anyone from Fannie involved in this mess!!!!!!
I have nothing more to add, except:
Since the entire point of the program is the transfer of taxpayer money into the banks, I wouldn't expect a lot of action on this.
The more they spend, the more they intervene, the worse things get. Someday I hope someone will connect the dots and say "hey, what if we try doing nothing? We haven't tried that yet."
Troubled Anonymous Relief Program
They are worried about deflation not fraud.... If they have inflation and fraud its better (in their view) than deflation and oversight.
"Last week, the White House announced it had nominated Herbert Allison,..."
Another Goldman alum. No conflict of interest there.
Not possible.
No, sir.
Like I said. Ethical corruption.
Things would still get worse. That's the nature of making promises you can't honor. Government in or out of the equation doesn't change the fact that many, many promises have to be broken.
If there weren't any investigations into torture the derivatives bubble won't be looked into. It's a continuous government with no balance of power and therefore not accountable and if you question this you are 'crazy'.
I have been saying that for some time. - lucifer
- you've been saying everything for some time now. Why don't you shut the hell up!
If you want to look too much into the private, special interest stranglehold on government and the American people, then you are probably a 'racist', 'global warming denier', or a 'tin foil whacko'. It's just the way it is. So get used to the stranglehold. You are not going to be allowed to question it or understand it.
"The more they spend, the more they intervene, the worse things get."
Dawg, this isn't about making things better. This is about taking care of your own.
Comrade Barofksy should take it easy.
twitter clip is hilarious.
Almost as funny as the Treasury Department.
Amazing, isn't it, when the nation is facing its greatest economic stress since the GD, that many, many people can't get beyond their greed to do what is right.
I think it is this kind of activity, the underhandedness of the financial elite; those at GS, AIG, PIMCO, etc; that will make this crisis worse than the GD. From what I understand, at least during the GD there was some sense of "we are all in this together". Now, it is more "every man for themselves".
I would not be surprised to see substantial civil unrest before this is all over.
I am not a big believer in government finding the way out by itself, but the one thing they should do is bring a sense of justice to the situation. The inability to make stakeholders in the banks - management, bondholders, etc - suffer some loss, will be the undoing of the whole system.
Where's Teddy Roosevelt when you need him?
"Where's Teddy Roosevelt when you need him?"
He's dead, but you know that.
notional billionaire wrote on Mon, 04/20/2009 - 9:47pm.
I have been saying that for some time. - lucifer
- you've been saying everything for some time now. Why don't you shut the hell up!
+10,000
At least millions of high school students will soon get high school jobs to boost the economy and help thier families throught the hard times.
Oh I forgot, all those jobs are already taken by illegal Mexicans for less than minimum wage.
CR - too bad i couldnt have got that up for my first comment! 
............
Comrade de Chaos - good stuff! 
'"hey, what if we try doing nothing? We haven't tried that yet."'
Oh please . doing nothing to enforce the laws and staying out of the innovative miracles of financial engineering was exactly the policy followed by the 'ownership society' (2003-2008, RIP) - remember that time?
'Ownership society is a slogan for a model of society promoted by former United States President George W. Bush. It takes as lead values personal responsibility, economic liberty, and the owning of property. The ownership society discussed by Bush also extends to certain proposals of specific models of health care and social security.'
http://en.wikipedia.org/wiki/Ownership_society
Or this summation -
'To achieve his vision, Bush pushed new policies encouraging homeownership, like the "zero-down-payment initiative," which was much as it sounds-a government-sponsored program that allowed people to get mortgages without a down payment. More exotic mortgages followed, including ones with no monthly payments for the first two years. Other mortgages required no documentation other than the say-so of the borrower. Absurd though these all were, they paled in comparison to the financial innovations that grew out of the mortgages-derivatives built on other derivatives, packaged and repackaged until no one could identify what they contained and how much they were, in fact, worth.'
http://www.newsweek.com/id/163451
Nothing as far as the eye can see - no downpayment, no documentation, no monthly payments for two years.
How quickly some people forget chainsaw wielding Republicans whose commitment to doing nothing was part of their claimed justification for being given the job in the first place.
We did nothing for years - and here we are, wondering why anything needs to be done. Though at this point, whatever is done won't be enough.
I bet you are one of those types that never, ever helps your host clean up at the end of a party, thinking it is their mess to deal with, not yours.
Yes, my son applied for a job at McDonalds but they said that he needed to know spanish otherwise he would not be able to communicate with the other employees.
He was told that none of the other employees speak english.
Oh I forgot, all those jobs are already taken by illegal Mexicans for less than minimum wage.
-yeah, and who hired them?
Now the really smart thing to do is blame the Mexicans for the derivatives bust and the unemployment bust. Let's look for scapegoats so we can take our eye off the ball.
" If they have inflation and fraud its better (in their view) than deflation and oversight."
That's the best comment on here in a few weeks. I agree, and, sadly, share this preference. There is no worse fate for our economy in the long term than the slow, endless torture of deflation.
"-yeah, and who hired them?"
-----------
TARP, to help distribute funds.
I naively thought Obama might be the real deal when I voted for him. Now I realize he was just another snake oil salesman.
This is about taking care of your own.
Without question. When the inmates are running the asylum what else should we expect?
-----
"Hope for the best, prepare for the worst"
" If they have inflation and fraud its better (in their view) than deflation and oversight."
"That's the best comment on here in a few weeks. I agree, and, sadly, share this preference."
Sorry, but those are the two most assinine comments I've read on this blog over the last four years, bar none.
This is another in a growing list of qualified people questioning the government's thefts of taxpayer money but is there ever ONE legitimate response by the government?
Quite the contrary, We don't even have PPIP going yet (hopefully it won't, but that's wishful thinking) and now an admin official has floated perhaps the next theft....
In tonight's post I make you aware of a potential upcoming "stick save" by the PPT. NEGATIVE INTEREST RATES.
http://4best4worst.wordpress.com/
It may seem far fetched, but they all have when first floated and thus far it has never stopped them from trying....
Best to all....
Maximus
Sorry, asinine. I want to be absolutely clear.
"Where's Teddy Roosevelt when you need him?"
Right now I'd settle for Will Rogers.
This is harsh criticism of the PPIP (well deserved in my view). And a pretty critical report of the overall handling of the TARP.
But will anyone do anything as a result? And what might they do? If not, it's just more hot air (and wasted paper) in Washington.
My site: http://ic4mg.com
r_t_o whines;
I bet you are one of those types that never, ever helps your host clean up at the end of a party, thinking it is their mess to deal with, not yours.
You'd be as wrong on that point as you've been every time you've opened your festering yap.
When I said we should try nothing I meant nothing innovative or original. IMO we have sufficient laws and mechanisms in place to deal with even large banking failures. It all started when we somehow confused foreclosure as being a problem when it is in fact a solution. Once failure was disallowed the moral hazard quickly went up the food chain to the largest financial institutions.
I remember in the 60's R.D.Laing wrote a psychology book that theorized that 'schizoprenia' was a 'normal' reponse to our crazy world.
Now being apathetic, unaware, and unquestioning is considered the 'normal' response to systemic insanity or criminality.
ghostfacedinvestah wrote on Mon, 04/20/2009 - 9:53pm.
Amazing, isn't it, when the nation is facing its greatest economic stress since the GD, that many, many people can't get beyond their greed to do what is right.
I think it is this kind of activity, the underhandedness of the financial elite; those at GS, AIG, PIMCO, etc; that will make this crisis worse than the GD. From what I understand, at least during the GD there was some sense of "we are all in this together". Now, it is more "every man for themselves".
so close, but no cigar! It's worse! It's not just every man for himself, but rather, how can we NOW take advantage even further of the same suckers we screwed before. It's galling, and despicable, and yet, it's happening right before our very eyes with the permission of the US government. I really only thought Id see this if Bush/McCain were re-elected. And yet here we are... the sadness I feel is beyond explanation.
HAL : I'm afraid. I'm afraid, Dave. Dave, my mind is going. (CHONG : Dave's not here.)
J-People; Sometimes Knowledge is just Knowledge.
Forbidden Knowledge secret Jack Otto Part 1
http://www.youtube.com/watch?v=WyjTU8KD6dA&feature=related
Forbidden Knowledge: Jack Otto Part 2
http://www.youtube.com/watch?v=rhw9ecZsMEU&feature=related
See following 4 parts here;
http://www.youtube.com/profile?user=Libertytreeradio&view=videos&start=20
---------------------
Chemical con-trails from Air Force spraying operations cause cancer and respiratory problems! Where are all the environmental wackos concerns? See; Killer Chemtrails: The Shocking Truth
http://www.youtube.com/watch?v=Psdg3OAw_a8&fe
mp: "Like I said. Ethical corruption."
An historic systemic financial crisis implies prior systemic corruption and fraud on something like the same scale.
Bad luck for us. Good luck for those who co-opted the regulators, Congress and the Administration.
You can't fix ethical corruption with more ethical corruption, but absent a few notable exceptions, that seems to be what is going on. We shall see if those notable exceptions manage to make some headway.
Tweeted the LA Times article. Suggest everyone does the same, or tweet this blog post.
Best to all. Ken Cooper is a God.
Second Hoops' call for a freakin' filter!
Like a frog in a heating pot, it is slowly dawning on TPTB that there is no solution, but a total collapse of the credit bubble. Sleep Well
Funny how TARP gets so much attention, but TLGP goes under the radar. I am betting that the FDIC is going to be the next big blowup, along with the FHA. I used to have some respect for Sheila Bair, but that has long since disappeared. She is nothing more than another patsy for the financial elite.
The Fed, of course, will just print as much money as they need to pay for their losses, and we will all pay through a debasement of the currency.
Attention Michael, Lucifer, and "Anonymous" guy with the hard-on for Mexicans: I hate you. I hate you all. I know I'm supposed to ignore you, and hope you go away, but I'm compelled to tell you that you are ruining my CR experience. Stop posting. Stop posting now, before anymore of the smart people this blog attracts decide they don't want to have their words appear next to those of retards. Thanks in advance.
The entire media and internet is a 'filter'...
those at GS, AIG, PIMCO, etc; that will make this crisis worse than the GD. From what I understand, at least during the GD there was some sense of "we are all in this together".
uhhh, no....
There was plenty of self-dealing on wall street during GD 1.
Good night and good luck. We're all going to need it, you know.
There are going to be a lot of cold and hungry people before this is over.
Feed a few.
Second Hoops' call for a freakin' filter!
All in favor? A huge freakin' AYE!
Retard. I hate you.
This is exactly what I was talking about.
This is the new blog debate tactic.
Very rational. And convincing as a way to discredit arguments or theories.
I wonder how much taxpayer money the PBGC is going to need to cover Chrysler and GM. That's my canidate for the next big blowup.
fer chrissakes, I wish lucifer and horne would stfu.
hoops, i hears ya and seconds and thirds ya.
We want filters. We want silencing. We want a predictable narrative. We want 'hate speech' laws.
Broward, if you're on line ---
Can you expand on the "marginal utility" of information a bit?
How does information's "marginal utility" differ from the information's "utility"?
Truth does not come prepackaged.
Everything is connected.
Let not your preconceived notions block your mind because it is uncomfortable to entertain alternatives to your preprogrammed thought processes.
---------------------
Chemical con-trails from Air Force spraying operations cause cancer and respiratory problems! Where are all the environmental wackos concerns? See; Killer Chemtrails: The Shocking Truth
http://www.youtube.com/watch?v=Psdg3OAw_a8&fe
uno mundo wrote on Mon, 04/20/2009 - 10:34pm.
We want filters. We want silencing. We want a predictable narrative. We want 'hate speech' laws.
Think bandpass filter to merely attenuate the noise making the signal easier to hear.
uno mundo,
You speak of the control freak bylaws.
---------------------
Chemical con-trails from Air Force spraying operations cause cancer and respiratory problems! Where are all the environmental wackos concerns? See; Killer Chemtrails: The Shocking Truth
http://www.youtube.com/watch?v=Psdg3OAw_a8&fe
Keep it simple. No organizational analysis. Stay on topic. No non-governmental research. Stick to the headlines. No investigations. Especially 'crazy' independent stuff. No links that are not approved. If you don't do what we want, you'll be subjected to obscure and murky Ayn Rand quotes and called unpleasant names. This is how discourse is now. Get used to it..
The point about corruption is important to me in that I believe we are seeing are changing of moral guard here in the US. Where we are now seeing such obvious examples of corruption that it may actually be signifying a movement away from a culture of corrupt ethos, perhaps what one could call the culture of greed. Brand me an optimist, but historically the public awareness of public/private corruption has lead to actual change in moral leadership in this country.
Rob Dawg,
A 'newbie' realist or researcher who is honestly curious has a long hard and winding road. It's easiest to swim with the flow and not get too curious or oppositional or shrill. There's rules to being a heretic or iconoclast or it won't be pleasant. Ranting is uncool. Do we have much time left for polite restraint?
" Rob Dawg (member) wrote on Mon, 04/20/2009 - 10:34pm.
I wonder how much taxpayer money the PBGC is going to need to cover Chrysler and GM. That's my canidate for the next big blowup."
Don't worry, the PBGC jacked their returns by investing in equities in Oct '08.
As much as I hate all bailouts, at least the auto makers actually make something, and they are going to be hammered pretty hard through this. Wagoner lost his job, the unions will have to take a hit, GM will most likely go through BK, wiping out shareholders, bondholders will take a haircut, etc.
But Citi, they haven't even suffered any dilution (though that is coming, supposedly). In the meantime, there are all these direct and indirect costs. For example, by propping up a loser like Citi, the government denies a lot of local banks some potential new deposit customers, who might need these deposits to keep themselves afloat.
Sure, Ford is paying the indirect price for keeping GM and Chrysler alive, but Citi and AIG are hurting hundreds of their competitors.
Forking over some cash to prop up the PBGC to facilitate the GM/Chrysler bailout is something I could stomach; the costs to the FDIC and the FHA tick me off much more.
'When I said we should try nothing I meant nothing innovative or original.'
Oh - then ignoring the laws was innovative or original?
'It all started when we somehow confused foreclosure as being a problem when it is in fact a solution.'
Especially if it is rational for people to walk away from their mortgages, without any penalty. Hell, I recall some advice that it is a good idea to stop paying your mortgage to save up a downpayment to be able to move into a house in the same neighborhood, to avoid any disruption. Sounds like a solution, for the deadbeats - why be penalized by making a financially stupid decision when walking away, especially just down the street, is so much easier.
The real problem remains something much, much deeper - but then, why expect a dawg to actually understand? Being too busy writing treatises and avoiding such burdens on their time as jury duty has to take a toll somewhere. Though it is behavior that fits perfectly into the most suitable summation of America over a generation - IGM - YOYO. 'I've got mine - you're on your own.'
Like it or not, America is still a bankrupt nation - and the problem in the end is not financial.
" Rob Dawg (member) wrote on Mon, 04/20/2009 - 10:34pm.
I wonder how much taxpayer money the PBGC is going to need to cover Chrysler and GM. That's my canidate for the next big blowup."
Also, with all due respect, I think the FHA bailout could come before the auto maker situation is resolved. Like, the next couple weeks. They are in deep do-do; the performance of their collateral is horrible.
"Crimes suspected in 20 bailout cases -- for starters
The special inspector general says TARP is 'inherently vulnerable to fraud, waste and abuse.' The risk grows as the plan becomes more complex, he says.
By Ralph Vartabedian and Tom Hamburger
April 21, 2009
Reporting from Washington and Los Angeles -- In the first major disclosure of corruption in the $750-billion financial bailout program, federal investigators said Monday they have opened 20 criminal probes into possible securities fraud, tax violations, insider trading and other crimes.
The cases represent only the first wave of investigations, and the total fraud could ultimately reach into the tens of billions of dollars, according to Neil Barofsky, the special inspector general overseeing the bailout program."
http://www.latimes.com/news/nationworld/nation/la-na-tarp-fraud21-2009ap...
I might of spoke too soon. Hear-hear for starting investigations. Convictions and perp walks would be very enjoyable.
instead of some crappy tune playing on my cell phone to alert me to a call
I'd like to hear the voice of Rep Susan Harman saying, 'This conversation doesn't exist!'
bet you could make some , no?serious dough from that as a ringtone
ghost,
FHA may indeed need something to stay above their mandated 2% reserves but HUDs entire budget is only $38.5b. Personally I think HUD should be zeroed but $38.5b is currently too small to worry about. And that's what pissed me off about O's $100m gesture. He's got trillion dollar elephants in the room and he's swatting flies..
did you say Inspector Blutarsky?
Forgive me if this has already been posted.
"The Wail of the 1%
As the privileged class loses its privileges, a collective moan rises from the canyons of Wall Street."
Actually, one of the biggest contributors to the depths of the Great Depression was an "every man for himself" attitude by those running the show. Remember, there was no unemployment insurance, no social security, nothing. When the farmers were starving, Hoover's response was basically, "Well, they should have planned better." His faith that the corporations would fix things out of the goodness of their hearts is what really screwed things up.
And that's what pissed me off about O's $100m gesture. He's got trillion dollar elephants in the room and he's swatting flies.
Could Obama be trolling us? I mean really, $100m? I bet Paulson has twice that much in the crevices of his couch.
--
The Zombie Apocalypse begins when U3 hits 15%
So let's see, you loan the bankers a bunch of money with little oversight and let them run wild with fraud and then swoop in and jail them all. Trust the government to take the long-winded and expensive route.
And that is precisely why you are doomed.. You do not want to listen to anything other than what you want to hear. Hey.. if you want analysis, try bloomberg.. much of what they claim is BS, but hey you want an echo chamber. I have a better idea...try rush limbaugh.
//Stop posting now, before anymore of the smart people this blog attracts decide they don't want to have their words appear next to those of retards.//
You people aren't some kind of essential dissenting voice against the status quo, you're fucking thick and your comments are crap.They add nothing, not even a legitimate counterpoint or even some kind of dialectic-shattering meta-point. If your comments were so radical they'd be actually interesting to read. But they aren't. They're just crap. Pure, meritless crap uttered by idiots with no real goal other than to imagine that someone is reading the shit they're typing. And because you're all such bombastic, narcissistic wankjobs with no real grounding in reality or normal human interaction other than what you get over the internet, you can only imagine that the people reading whatever it is you're typing find it just as amazing and engrossing as you feel everything you say is. It's not. It's fucking not. Get it through your heads. Your words convey nothing, you have no insights to share, your witty little zings and little tangent points you introduce are nonsensical, insane-sounding total non-sequiturs, your fresh little quips at the regulars here that tell you to shut the fuck up are nothing more than stark displays of your delusions of grandeur and a pathetic over-appraisal of what your comments bring to the table, your historical analogies hint at a sort of perverse educational grounding in fringe sites propounding twisted versions of the past, the "worldliness" of your anecdotes and insights does not exceed the boundaries of your one-room government subsidized hovel, and as a whole you are probably, each individual one of you, without exception, worthless fucking human beings who add nothing to society no matter where it is you find yourself in it, and are almost certainly to the man living by the grace of our social welfare programs due to some sort of terrible affliction that renders you totally unable to socialize with normal human beings in even the most rudimentary ways.
You people are worthless. You are shut in a room for most of your life because society finds you to be a net negative. You have nothing to contribute to this species. I look forward to the day that the ignore feature is enabled so that I can do what the rest of humanity has found necessary to do to you: Give you a little corner to wallow in and try my best to be productive and pretend you all were never born.
-------
http://www.afterthecrash.net - After the Crash, a blog shared by the CR Commenting Community. Hoopajoop on over.
If I cared about things like you .. pigs would fly
Guest1 wrote on Mon, 04/20/2009 - 10:57pm.
notional billionaire wrote on Mon, 04/20/2009 - 9:47pm.
I have been saying that for some time. - lucifer
- you've been saying everything for some time now. Why don't you shut the hell up!
+10,000
And by you people I mean lucifer, werner, whoever the anonymous shithead is, and a lot more of you fuckers strangling this blog with your worthless, destructive shit.
-------
http://www.afterthecrash.net - After the Crash, a blog shared by the CR Commenting Community. Hoopajoop on over.
Perhaps of interest, from Canada: Thousands enjoy a puff of pot to celebrate 4/20
"Thousands of marijuana enthusiasts came together in front of the Vancouver Art Gallery Monday to celebrate April 20th -- better known by weed smokers as 4/20.
The day is observed throughout Canada and the world as a counter-culture celebration of marijuana, and to advocate the decriminalization of cannabis.
Vancouver Police made sure the festivities didn't get out of control. But despite current laws that punish illegal drug use, many people openly puffed away as police watched from a distance."
As if bailing out Chrysler or GM is an answer. They will never be anything close to what they were during the bubble. In a decade their market will be so much smaller as Indian and Chinese manufacturers eat their lunch. All current assumptions by GM, Chrysler, UAW and the federal government will be way too positive. However they all have a self interest in perpetuating the lie that somehow American automotive companies will maintain their dominance in a world of cheap labor and free trade. Gimme a break. Even Warren Buffet is buying into a Chinese auto maker because they can produce cars way cheaper. They eschew automation in favor of over simplifying the car building process and using migrant labor to manually assemble them. They pay engineers $600 a month. It would be a mistake to underestimate the desire and pride of these workers.
I care about your beliefs... haha...Seriously, why not watch CNBC or read WSJ.. they have all of the wonderful gated communities you seem prefer
Shiela's Bear wrote on Mon, 04/20/2009 - 11:28pm.
"Hoopajoops LTD (member) wrote on Mon, 04/20/2009 - 11:12pm.
You people aren't some kind of essential dissenting voice against the status quo, you're fucking thick and your comments are crap.They add nothing, not even a legitimate counterpoint or even some kind of dialectic-shattering meta-point. If your comments were so radical they'd be actually interesting to read. But they aren't. They're just crap. Pure, meritless crap uttered by idiots with no real goal other than to imagine that someone is reading the shit they're typing. And because you're all such bombastic, narcissistic wankjobs with no real grounding in reality or normal human interaction other than what you get over the internet, you can only imagine that the people reading whatever it is you're typing find it just as amazing and engrossing as you feel everything you say is. It's not. It's fucking not. Get it through your heads. Your words convey nothing, you have no insights to share, your witty little zings and little tangent points you introduce are nonsensical, insane-sounding total non-sequiturs, your fresh little quips at the regulars here that tell you to shut the fuck up are nothing more than stark displays of your delusions of grandeur and a pathetic over-appraisal of what your comments bring to the table, your historical analogies hint at a sort of perverse educational grounding in fringe sites propounding twisted versions of the past, the "worldliness" of your anecdotes and insights does not exceed the boundaries of your one-room government subsidized hovel, and as a whole you are probably, each individual one of you, without exception, worthless fucking human beings who add nothing to society no matter where it is you find yourself in it, and are almost certainly to the man living by the grace of our social welfare programs due to some sort of terrible affliction that renders you totally unable to socialize with normal human beings in even the most rudimentary ways.
You people are worthless. You are shut in a room for most of your life because society finds you to be a net negative. You have nothing to contribute to this species. I look forward to the day that the ignore feature is enabled so that I can do what the rest of humanity has found necessary to do to you: Give you a little corner to wallow in and try my best to be productive and pretend you all were never born. "
Dude. You should put that on YouTube.
Comically, from the same mainstream Canadian media site comes this headline: Grow-ops flourishing despite police efforts
Gosh, you might think the Mounties would wonder where all the weed for today's celebration came from...
So let's see, you loan the bankers a bunch of money with little oversight and let them run wild with fraud and then swoop in and jail them all. Trust the government to take the long-winded and expensive route.
Nice.
---
Rob Dawg,
I guess folks aren't so bemused when you bring up the subject of precipitously falling rents these days, eh?
ArtVandelay22,
Boy, what an article. The Wall Street sense of self-importance is beyond stunning. I know we've talked about it before, but the attitude that comes across in those interviewed is un-frickin-believable.
-----
"Hope for the best, prepare for the worst"
Hoopajoops LTD,
I am sorry to say this.. but the universe does not care about your beliefs.. or mine.. It is a chaotic system.. the cosmos is just a subsection of underlying chaos.
If you want to pretend otherwise and hope that the world you grew up in (or believed in) will come back.. it won't!
A lot of what you believed is already gone or is too discredited to come back
Burp.
You'd think Hoopjoops is working with me(a conspiracy) that my comments about namecalling are validated by such a perfect example of incivility to silence unmoderated narrative that is 'unwelcome' by Hoop. No discussion of the issues raised...just hostility bordering on rage.
Hoops...
Amen.
Most likely in real life, these maroons are wussies with self-control issues.
From Wikipedia:
"Causes of flaming
There is no general agreement on the causes of flaming, although a recent study has led to somewhat conclusive evidence. Some common hypotheses are:
Some forms of flaming can be attributed to deeper social or psychological weaknesses, probably from lack of exposure to a broader spectrum of disciplines that result in self-control issues.[2]
It is noted that Internet users are more likely to flame online than insult others in the real world, as the latter can lead to embarrassment and physical altercations, which online "anonymity" can avoid.[citation needed]
Those guilty of flaming may justify it as getting even for having had their feelings hurt initially, so they see it as doing justice by inflicting serious emotional distress on another.[citation needed]
Some flaming may be done with no stronger motive than to get a reaction from the target of the flame, or for the feeling of power or moral freedom of causing emotional distress to another."
Hoopajoops,
I think your comments capture the essence of how Government listens to the People.
I hope that Homeland Security is monitoring this because someone ,"wink", has a screw loose.
People who go to Wiki to think or get a definition aren't thinking creatively for themselves...they are parroting.
w,
There it is again the claim of craziness again, the alternative to namecalling without intelligent exchange or a rational discussion.
What I find funny is that even the narcissistic shitposters who I DIDN'T name KNOW WHO THEY ARE. YOU FUCKERS KNOW WHO YOU ARE. YOU KNOW YOUR POSTS SUCK. Why do you keep making them?
-------
http://www.afterthecrash.net - After the Crash, a blog shared by the CR Commenting Community. Hoopajoop on over.
uno mundo,
To understand Hoops you have to read his blog and the links, and his positions.
He seems to be a white middle aged survivalist with traditional beliefs. His mind, at least a part of it, can see that it is just not going his way. But he thinks he is in touch with reality and has control..
As I have said.. you can believe what you want.. the universe does not care.
Hoops, well put, but, still... DFTT
You ever notice on the 'tough' issues...when real change or inquiry is asked for...the only defense seems to be to not respond or attack with the verbal abuse.
Mundo: I've been on CR for a long time. And I've been insulted by the best...you're not even close, so why bother.
Lucifer,
Did you even read what Hoops wrote? Have you read anything else the guy has written? Good lord, man, you actually are a fool. A fool in bold, no less.
The only adequate comparison I could make would be to imagine if I picked up a guitar (I don't know how to play guitar), charged onstage, plugged into Ry Cooder's amp, and started banging away. When the crowd started to boo and throw bottles at me, I'd then grab the mic and scream, "You can't handle my shit! These licks are from the future! You can't handle this!" That's what you're doing.
Unlike my guitar playing, though, there are places you guys could actually go where your nonsense would be appreciated. Hell, you'd be heroes.
You people aren't some kind of essential dissenting voice against the status quo, you're fucking thick and your comments are crap.
Calm down! It's probably all those chemicals the Air Force is spraying you with that aggravate you. Although I don't know how to prove it since scientists cannot predict the weather more than two days in advance, it throws the entire structure of Western knowledge onto the trash heap. And apparently since everything I know is wrong, everything I'm learning is even wronger,....I blame Obama.
GreaterFool wrote on Mon, 04/20/2009 - 11:24pm.
Rob Dawg,
I guess folks aren't so bemused when you bring up the subject of precipitously falling rents these days, eh?
Now they get pissed when I call their recent screaming deals stupid because they won't cash flow in two years even though they do now.
It will be interesting to see how the Fed deals with OER as soon as those falling rents show up in earnest.
To understand Hoops you have to read his blog and the links, and his positions.
He seems to be a white middle aged survivalist with traditional beliefs. His mind, at least a part of it, can see that it is just not going his way. But he thinks he is in touch with reality and has control..
The juxtaposition of this profile you've so insightfully fabricated to describe me with the below statement just blows my fucking mind.
As I have said.. you can believe what you want.. the universe does not care.
I'm not white, I'm not middle aged, I'm not an independent survivalist, that's not my blog (it's everyone's), those aren't my links, and my positions are not known to you, though I would presume that since I'm calling you a stupid shit-head, you'll ascribe whatever viewpoints, mores, lifestyle choices, or whatever other qualities to me that you associate with "them," the "them" of society that rejects you and has forced you to sit in front of a glowing screen at night for your social context.
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http://www.afterthecrash.net - After the Crash, a blog shared by the CR Commenting Community. Hoopajoop on over.
I stand corrected: you took the bold off.
uno mundo,
What were you expecting? He believes in things that are not real.. which sadly describes most people. They want to believe in something... because they are afraid that without their cherished beliefs their life is meaningless.
I do not believe in anything.. It does not matter.
"You ever notice on the 'tough' issues...when real change or inquiry is asked for...the only defense seems to be to not respond or attack with the verbal abuse."
Please put the bold back on, it makes it easier for me to identify and skip your commentary.
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http://www.afterthecrash.net - After the Crash, a blog shared by the CR Commenting Community. Hoopajoop on over.
LUCIFER,
The People will never unite. It's a Myth. I mean people do have bad days or are loaded or depressed or whatever. Just think there's big issues that are there unexamined to some extent. It's like touching a raw nerve bringing up the wrong or politically incorrect topic or theory. We just call the play by play instead of trying some real analysis of cause and effect.
To understand history and where we are going, there has to be an open minded approach with info from many academic disciplines not just blog talk.
"It will be interesting to see how the Fed deals "
I'll confess it was the irvine housing blog which originally directed me here - for those unfamiliar, the central conceit of the site is that it purports to document the wait until rents fall in line with RRE values in Irvine, CA. (And it does so with some truly awesome research and nice writing.)
But that's the real specter haunting the nation... what if, instead of seeing a reversion to real buy/rent metrics in a few years, as the favorite charts on that site presuppose... the rents just keep on falling... and not for a few years, but for 5... 10... 15....
where do those models go then? what is the opposite of 'the ownership society', anyhow?
El Lurko,
Please stop using proxies.. it is comical
Hey, Hoops...it's nothing more than brain farts of idle minds. What you need is a Nova 'tude.
sdtfs,
funny. the aerosols and sprayed particulates are causing the mood swings maybe
Oh also, I spoke to the sales representative guy who does my cork boards when I need to do presentations - he confided in me that he just got a "screaming deal" on a house from a distressed builder, a brand new home he says, right in a new development just outside San Jose. He thinks we've hit bottom in the SV area. "Only 850,000" he says. I can't believe this shit is still going on.
How does this keep happening?
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http://www.afterthecrash.net - After the Crash, a blog shared by the CR Commenting Community. Hoopajoop on over.
please tell me this isn't one of those gated country club places overlooking the 101...
Yeah. We will all be fighting one another. That's how it's going to go. Interesting.
bgates: The pre-ownership society???
But that's the real specter haunting the nation... what if, instead of seeing a reversion to real buy/rent metrics in a few years, as the favorite charts on that site presuppose... the rents just keep on falling... and not for a few years, but for 5... 10... 15....
It's a self reinforcing problem. Falling rents crush investors making prices chase rents ever lower. And it looks like there's a change in attitude that makes houses a place to live not a place to invest. That means a compression at the high end in prices. Malallocation in monster houses further reduces their desireability and thus rental premium. This goes on until we burn off excess inventory about the same time aging boomers are looking to dispose of their extra houses.
Sadly a lot of what people think as "established scientific fact" is crock and fraud. I am sorry to disappoint you.
A few examples-
For decades the medical profession pushed the idea that treating type 2 diabetes reduces mortality and morbidity from arteriosclerosis. Funny thing... it does not.
Plavix, a widely used anti-platelet drug, has never been shown to safer or more effective at preventing clots in clot prone people than low dose aspirin. But hey.. someone is making 3 billion on that..
Levels of gamma radiation many times higher than the EPA limits, but much lower than what will cause measurable cellular damage have never been shown to increase the risk of cancer. Indeed, quite the opposite...
DDT, as used for mosquito control, has never been shown to have any negative effective on human or birds. Though, a few other organochlorine insecticides are nasty.
Some things will never see the light.
CR:
it seems to me that this blog's viewership greatly increases when the market gets Bearish like it did yesterday...
it would be interesting to see if there's a correlation...
or is that your own Google analytics used to push ads...
To all: please just ignore the flaming, ill-mannered trolls. Less for them to gleefully respond to, less for us all to skip over. Please. Ignore. Them. The easiest filter is not reading the icky (yes, that's technical term) posts. : - )
Duke of Con Dao (member) wrote on Mon, 04/20/2009 - 11:57pm.
CR:
it seems to me that this blog's viewership greatly increases when the market gets Bearish like it did yesterday...
it would be interesting to see if there's a correlation...
Duke, it is jokingly called the CRVIX. And when it is especially large it is said to have dilated.
uno mundo,
I have a rather low opinion of academics.. as I have spent too much time in that system. I have seen too much self-worship, uncritical beliefs, fads, group think and general BS.
A lot of what you think is real and worth understanding is just a scam.. conversely a lot of what you were told was wrong is right...
"To understand history and where we are going, there has to be an open minded approach with info from many academic disciplines not just blog talk"
Back OT.
CR, I too can't figure out how the PPIP will help "main street," but I can certainly see how it could be easily gamed. And I don't even have a Master's Degree in Science, to quote Duck's Breath Mystery Theatre and Dr. Science.
And offering to let us 'little folks' in to play with (e.g., invest in PPIP) with the 'big dogs' sounds JUST like the offer that con men make to you right before they steal your money and skeedaddle. (For a nice illustration, go watch LOST, season one, Confidence Man.)
Pursuant to BofA, so they are putting the SF Bay Area's First Republic on the block? Anyone know anything about this -- I've got a bunch of CDs with them. They are a very nice, old-fashioned service-oriented bank so I hope that they survive.
the rents just keep on falling... and not for a few years, but for 5... 10... 15....
I can't imaging rents falling for more than 5 years. That would imply a slow gradual decline. I'd expect to see a precipitous drop somewhere along the line as all the hope got beat out of people. But that could be because I've got a stake in that particular argument. Unless you were only referring to SFH as rentals?
uno mundo,
Krugman is one of the more reasonable economists, but he too wanted to believe that + 100$/b oil was based on fundamentals.
The question is.. why? Unless you understand his beliefs about the world, it does not make sense.. once you do it just clicks together.
I enjoy most of hoop's and lucifer's posts, even when I disagree with them. Hoops is earnest and lucifer often opines with witty snark/bile. Can't we just save the weird/deprecatory stuff for Sat. night...
FZ
Lurking since the original bankerdome was postulated.
G'nite to the Commentariat...and a Bronx cheer to the rest.
I guess Hoopdejoop got fired or went long or something.
Looks like The Parlor in Bellevue retired 1/2 of their pool tables. Charged me full price for a Monday night, no more 1/2 price deals. Hello, Inflation.
"Unless you were only referring to SFH as rentals? "
i'm not 100% positive, but fairly confident that in the japanese scenario, there was at least a dozen years where every category related to RE kept falling in sequential quarters (1991-2003?). and yes, that would include multifamily, SFH, etc.
as rob alluded to, this just crushes the whole paradigm which was was the basis of our entire social structure since the depression, it really turns the entire concept of prosperity american-style on its head. is that a bad thing? perhaps not. but i feel genuinely bad for anyone born before 1990 who didn't get some cash-based or at least totally unleveraged nuts squirreled away in the recently departed good times. those after (at least a few of which provided some nice college football thrills this past year) will be able to still have a few food earning years after the mess is either cleared up or inflated away.
"Hello, Inflation. "
the same definitely can't be said of your average mercer island or medina property. hello again, 400K! remember me?
Lucifer,
Yeah you are basically right about academics...it's all disciplanary turf, getting published, and staying off 'taboo' research areas...
Krugman is like Roubini...good at seeing the extent of the problems within the boundaries of their academic world and reputations...but not so good at the solutions of letting the problem(ponzis, pump & dumps, swindles) have more stimulus(cash) to play with.
There are some issues out there that can only be defended with namecalling and pseudo-diagnoses of 'insanity' and maybe 'End the Fed' may become one of these...questioning 'endless' Middle east Wars...questioning aerial spraying...questioning killing civilians in wars,,,questioning any of the events of 911...all of this stuff has mostly namecalling as a defense to any criticism...
yes, uno mundo, we get it, we all engage in name-calling, demonization and other tactics because we just can't stand the full-on brilliance and unorthodox luminescence of your libertarian insights. please forgive us. help us find austria on the map. explain the hayek isn't just an actress. etc etc etc
"Hello, Inflation."
Sounds more like capitulation to me. They couldn't fill the tables even at half price, got a bunch of regulars who would pay full fare anyway. Let's check back in a year and see where their prices are.
bgates,
Who said I was Libertarian ? See there's prejudgement and sarcasm. At least I graduated from 'shithead' I guess.
My belief system is whatever the economic/political system...if scammers and cons run it...it'll get screwed up.
Socialism run by crooks=disaster
Capitalism run by crooks=disaster
Gold-backed economy run by crooks=disaster
Fiat run by crooks=disaster
Libertarian system=the crooks will take over.
It's a criminology issue not just a political and/or economic issue.
bgates,
Who said I was Libertarian ? See there's prejudgement and sarcasm. At least I graduated from 'shithead' I guess.
My belief system is whatever the economic/political system...if scammers and cons run it...it'll get screwed up.
Socialism run by crooks=disaster
Capitalism run by crooks=disaster
Gold-backed economy run by crooks=disaster
Fiat run by crooks=disaster
Libertarian system=the crooks will take over.
It's a criminology issue not just a political and/or economic issue.
One is for Hoopajoops
Sdtfs, yes that's my take, too. But it means they've separated their customer base into high and low elasticity and are exploiting which still translates into inflation. Bar chick "tif" is cute and observant, shrewd but somewhat hollow. Trying to figure out my deal, yeahc good luck with that, baby.
the BS shills with diversionary and hate inciting posts are getting a bit thick in here. they are attempting to hijack the discourse because facts presented here are counter to the party organ and a threat to establishment liars.
i see the extra spooks as a byproduct of CR's success. the blog has gained wide credibility. the fuckape thread hiackers and plants are filling the comments with fringe fraidy hole masturbatory blather to diminish the good poster's points and research by forcing proximity to their fetid brain barf and mental butt squirts.
ken will eventually get his old filters up and running. those who want filters could maybe make a small donation and pin a note to it with your request.
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I mean the bottom line is all the stuff I bring up is not popular or 'available' for discussion and of course instead of it being about the controversial issues, it becomes about me personally...another way to duck taboo topics...this is the way media and the internet work now. This is bigger then me...it's the media and internet system now...this happens to many many people around the globe who are seeking social change and justice. They are marginalized and not given a voice.
Wish I had my laptop bgates, the great reckoning says that persistent inflation is baked into many cultural assumptions, like rising house prices. I expect RE to be dead for at least a decade assuming the FedGov holds together at all. Barchick thinks I'm trying to pick her up? Haha, just bored.
Dawg, ur a smart guy y haven't u figured out that free market effectiveness is inversely related to capital cost and product complexity? The works best with cheap, simple consumer goods and gets progressively less efficient from there. I guess I'm gone for a cheaper pool game until 2 am
'butt squirts'...is that part of the 'good poster's points and research'?
"butt squirts" is just colorful language. are you feeling defensive? lonely? unvalidated? there are pills for that.
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Call the Crash play by play. What's the plan for preventing it from ever happening again. Calling bloggers 'butt squirts'?
In Japan real estate and rents fell for 20 years so 5 years of downward prices is not a big deal. Low prices are good, by the way unless you are living in la la land.
After all real estate only when up for most of our lives while most peoples wages went sideways.
Lower rents = lower real estate = more people can actually OWN there home rather then be debt wage slaves to wall street thier entire lives.
Putting a floor on real estate HELPS wall street and HURTS main street, even thought Fox News spins it the exact opposite.
I recommend you stop listening to astrologist....oops I mean economist...and try this old fashioned concept call common sense and simple logic.
Example of simple logic = Lower home prices mean more people can afford to buy homes.
Economists' logic = whatever crap Krugman spews to "justify" congress trying to put a floor on home prices in order to help the banks. After all you have to do something with the PHd which is why we at work NEVER hire PHds.
I'm feeling like if you were on a barstool next to me, I'd have to take a chance kicking your ass cause you are egging for a fight. Isn't this silly namecaller. What. No rational discussion. Just proved my whole thesis tonight again!
you like saying it. i can tell. you can try it too. go outside, jam a running hose up your butt and squirt for distance. we'll talk about something else while you are gone.
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Classic Truth Ignorant Americans just don't get.
Low Prices = More People Can Afford Homes
American Logic = Increased Lending along with higher home prices means more people can afford homes.
LoL.
see you butt squirt. drink up.
see you butt squirt. drink up.
CR,
please filter out posts from illegal Mexicans such as this mundo charater. If you are willing to work with me, I know how we can identify his/her location and then send out a border patrol officer.
that was easy! I just hacked the site and was able to identify the location on mundo, looking up the border patrol right now, give me a minute.
My girlfriend has been pricing condosin west Seattle for over a year. She says they're still falling and many were recently taken off the market in expectations of the flood of foreclosures from the moratorium lift
mundo, glad i could help you with your thesis. my thesis was that the persistent insertion of fringe blather is an intentional effort to derail reasoned discussion. you apparently felt that i called you out or maybe you saw an opening to further disrupt by harping on my crude expression.
I read some of your comments and agree with some of your assertions but now you are getting comical. "butt squirts", constitutes fighting words to you. funny.
welcome to costco, i love you.
http://www.youtube.com/watch?v=Z8zNsUTWsOc
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3 packages of Ramen for a dollar. Used to be 4. (1980)
But smoked salmon higher than ever.
Way back in October we were all calling our Congressclowns. Then outrage fatigue set in. We need to support Barofsky, Warren, Stewart. So you can look your grandkids in the eye.
OT:
Hey Werner, you may not be as well off as you thought. There's more where this came from, believe me.
http://www.bloomberg.com/apps/news?pid=20601088&sid=aMX2V40qezwk&refer=home
Bberg:
"Financial services has been the biggest contributor in every U.S. election cycle in the last 20 years, according to the Center for Responsive Politics, a Washington research group that tracks campaign money. Its individual and political action committee donations in 2007 and 2008 totaled $463.5 million, compared with $163.8 million from the health-care industry and $75.6 million from energy companies.
Goldman and Citigroup
Individual and PAC donations from Goldman Sachs Group Inc. which totaled $30.9 million, and Citigroup Inc., at $25.8 million, were higher than those from any other company except AT&T Inc.'s $40.9 million over the last 20 years, the center's compilation of Federal Election Commission data shows.
"How can you seriously propose a law when you've been taking money from 'The American Poodles for Wall Street' or whatever fund for the past 10 years," said Geisst, a professor of finance and economics at Manhattan College in New York and author of "Wall Street: A History"
Who cares, this story is bullshit. Show me the real deal.
the recent looting of iraq's national treasures under our watch ranks up there with the burning of the library at alexandria. great antiquities from the origins of human civilization in mesopotamia were simply taken.
http://www.globalpolicy.org/security/issues/iraq/attack/consequences/200...
http://www.globalpolicy.org/security/issues/iraq/attack/consequences/cul...
video:
http://www.joost.com/0327j47/t/Iraq%27s-Lost-Treasure#id=0327j47
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CR quotes "taxpayer risk is many times that of the private parties, thereby potentially skewing the economic incentives,"
Well that's what a bailout is. If there was an economic incentive for anyone to take these assets at prices that would bankrupt the banks they would have done that already.
Rob Dawg, "That means a compression at the high end in prices. Malallocation in monster houses further reduces their desireability and thus rental premium. This goes on until we burn off excess inventory about the same time aging boomers are looking to dispose of their extra houses."
I took a ride through the southern Maryland countryside on Sunday. It's amazing how many fine old homes from other eras are just rotting in the fields, 50 and 100 year old McMansions of by gone days. Houses have always been capable of going to zero value. We just weren't paying attention.
Will we ever know the causa mortis of the American body politic?
Was it septicemia, or perhaps HIV?
.................America's Newest Profession: Bloggers for Hire ..........
http://online.wsj.com/article/SB124026415808636575.html
...................CR.....is this report real or what ? .......how much do you make a year?........
.....................US to give Chrysler $500 mln, GM up to $5 bln in new aid..........................
http://uk.reuters.com/article/motoringAutoNews/idUKN2043059020090421
.....................they just follow ready made scenarios...............................................................
Jay D - how big is your unit? What he makes is none of your business. BTW--what did you think he was doing and why did you think he was doing it? Shit fire, Batman, start clicking on his fucking ads. His ARM is due to reset next month!!!
I don't worry about Bernanke; he's already written into history as an egotistical fool second only to Greenspan. Bush is ... Bush, most likely the worst fate he ever imagined. Obama is a Zero to me, an empty placeholder. I worry about the guys in Iraq, many of them dying for a country that they believe in which doesn't believe in them. A fascist lie of a country, a hollow place controlled images and illusions. I wonder almost every day if it was always like this. Why didn't I notice before? Why.can I see it now? Did i change or did it?
Sometimes I wonder what would Gandhi do? Would he forgive this level of deception and delusion? Or would he strike down Evil with force? Was McVeigh right but too early? The people seem hollow, vain, devoid of insight or even the will to see. Popular delusion grips small cliques, each carving away at the Commons like a fat turkey, feasting on The Future that could have been, oblivious to consequences. I know a Seattle policeman who cursed me as evil until he made an honest investigation. He never spoke to me again, wary of harassment charges but I read the Information Tea Leaves and saw that he was honest, at least with me.
I worked for a company that defrauded the City of Las Vegas so badly that a commission was formed to investigate and createnew guidelines. I was confused at the time, unable to believe the obvious, switching from excuse to excuse. These days I see the fraud easily and too often.
As near as I can tell, the USA I knew is gone and I wonder if Hunter Thompson thought the same before his suicide. Sometimes I feel lucky that I'm free of ills that afflict many others such as greed and envy. Sometimes I feel cursed to live outside "the norm". I don't see the US as a good place anymore and I wish I knew the truth. Sometimes I fear that I already do, or perhaps this is part of The K-wave cycle and it, too, will pass. But how can I know?
Pehaps it's a longer cycle of history, maybe a population of unquestioning placid people is a worthy goal; most seem content with the status quo, so I must be the misfit, the malcontent. I see so many lies, so many more than before and they gall me. The majority prefers the lies, though.
Why is it like this? The odds favor history and history sugests that the US is just another fading empire, nothing particularly special and almost mediocre in it's decline. I rebel at the thought but it sits there, quiet and dense and cold, a lump in my gut.
If it's true, the men in Iraq die for less than nothing. But Bernanke is still a fool.
..........volker .............back off...........it's none of your damn business too........
Jay D: bite me,
Broward: you're not that important. Let it go. We'll be fine. You just need a moral compass.
........hey , volker........drank too much and looking for troble boy?.......I usually dont bite , instead reconfigure the face of my counterpart........
Hoops? (and Ken?)
Think I agree broadly.
I don't have time (practically speaking) for every sort of comment, and would get much more from the site with filtering.
Also unlikely to respond to foolishness if I weren't reading any.
Barofsky needs to continue making noise.
The Political & Financial Cartoons Of Steve Breen: Winner 2009 Pulitzer Prize (Slideshow)
Treasury Department Issues Emergency Recall Of All US Dollars (Video From The Onion)
The Onion clip is short and very sweet.
what a moron
Hey, I got moral compasses for sale, two for a dollar. Nice brass case, made in Taiwan - not the People's Republic so it's okay. Here ya go Jay boy, maybe it'll help with that ........................s..tut.....ter...........thingie.
I'm anon 6:22am.
.............volker .........I already knew what kind of jerk you are by reading your pointless comments ..........you dont have to prove yourself ...........I never tackled your commets however stupid it was , I just laughed myself ..........I dont wanna mingle with a jerk like you .........ciao...........
The best post in 24 hours or more. Especially the last 3 words.
The time is coming when if you want to be able say you did anything, and know it, you will have to put down the computer and walk out your front door. Maybe it will be your neighbor. Maybe it will be someone sitting on the curb.
One thing is you will have to get face to face with real people who could care less about who, what, and when. Scary isn't it?
It is easy to be a hater, berater, or a legend in your own mind on the internet. Lets see what happens when you step out of the bubble, or god forbid, the cocoon is pulled away from you.
mp wrote on Tue, 04/21/2009 - 1:31am.
Good night and good luck. We're all going to need it, you know.
There are going to be a lot of cold and hungry people before this is over.
Feed a few.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
'that's not my blog (it's everyone's)'
No it isn't - I certainly don't have anything to do with it, though a link may have been clicked to see a Northern Virginia town home with some sort of damage, as a sign of the decline of civilization. Big deal - we used to play in abandoned houses in much worse shape, pretty much where that townhouse likely was, 30+ years ago.
Lucifer, i hope you choke on your sarcasm. Hoopajoops schooled you and other posers who keep commenting for the sake of commenting and showing how important they feel they are. Pay more attention to what's happening and how it will affect your life. If it's still fun to troll, go ahead, good for you. Office plankton consumer generation is going to get fucked real good by this crisis. I'm not gloating over it, just my 2 cents. Being a part of it, i have to admit that we well deserved it tho. It's time to get fucking real.
Nobody understands anything until they fucking get it themselves. You. are. getting. fucked. up. your. ass. by. the. government. and. the. banks. Go figure what's next.
/i think i actually wasted a few minutes of my time posting this however :/
Too bad his name wasn't Barfosky as his report makes me want to puke at what the government is trying to do.
He gave an interview to CNN Money -- Interesting. A Bush appointee. Former federal prosecutor. He has 20 criminal investigations underway. Staff of about 35. He can issue subpoenas !!!
BNYMellon earnings drop 51%...a fine start to the morning.
April 21 (Bloomberg) -- Bank of New York Mellon Corp., the world's biggest custody bank, said first-quarter earnings fell 51 percent, more than analysts' estimates, as a decline in equity markets eroded recordkeeping and money-management fees.
Net income dropped to $370 million from $755 million, or 65 cents a share, a year earlier, the New York-based company said today in a statement. Earnings per share were 28 after preferred dividends BNY Mellon paid to the U.S. government bank-rescue fund. (from Bloomberg this a.m.)
Another society has decided to do all the wrong things -
'Since the start of the financial crisis last year, governments across the globe have been talking up the environmental content of their fiscal stimulus programmes and being judged by their efforts to save the planet....But no matter what the UK promises, it will pale in comparison with the green boasts of South Korea's 50tn won (£23bn) plan. According to an international ranking by the bank HSBC, 81% of the money is earmarked for green projects, easily the highest proportion in the world and vastly more than the 7% share in the UK.
So how will South Korea spend all that money? The first challenge for Kim is co-ordinating how this huge sum - equivalent to 2.6% of GDP - should be doled out. He must face both drooling construction industry conglomerates and suspicious environmental groups while creating jobs and lifting a nosediving economy. Many Koreans believe the apparently green spending will turn out to be heavily grey.
At his office in the presidential Blue House, Kim says he is tasked with a fundamental restructuring of the South Korean economy and energy structure, which is 97% dependent on expensive imported fuel. "The president realises that now is the time for change," he says.
Over the next four years, the government promises to build a million green homes, improve the energy efficiency of a million more, invest £1.2bn on research into low-carbon technologies and spend £4.8bn on high-speed railways and other forms of "clean" transport.
More than 2,500 miles of bicycle expressways will be built, including a 175-mile stretch alongside the demilitarised zone boundary with North Korea. By 2020, expanded subway, railway and electric car ownership is expected to reduce greenhouse gases from transport by 20%. The forestry sector will employ an extra 50,000 people to increase carbon sink capacity and build the country's first wood pellet fuel mill.'
http://www.guardian.co.uk/environment/2009/apr/21/south-korea-enviroment...
Bike expressways? High speed rail? Subways? Electric cars? Forest planting? What are the South Koreans thinking - as Americans have conclusively proved, such top down ideas just lead to failure.
And this is the way it happens -
'However, the business-oriented president says the country must turn green to improve its corporate competitiveness. To sell his green growth plans to the nation's conglomerates - known as chaebol - he has stressed that moving early on low-carbon technology will give South Korea a head start over rivals around the world.
Hi-tech companies, such as Samsung, Hyundai and SK, have already begun investing in energy-saving technologies that use their expertise in semi-conductors and information technology.'
Anyone want to bet that the South Korean plans are have a good chance of ending up like South Korea's shipbuilding industry? 'The global shipbuilding industry is currently dominated by South Korea, which is by far the world's largest shipbuilding nation in terms of tonnage and number of vessels built, in spite of high labour cost, producing more ships than the entire world output combined in 2008.' http://en.wikipedia.org/wiki/Shipbuilding#Modern_shipbuilding_industry (Wow - just like America and military expenditures, except the South Koreans aren't wasting money, they are making it)
Or maybe it will be like South Korea's rollout of broadband. ''South Korea has one of the highest broadband penetration rates worldwide, has long been one of the most advanced broadband markets in the world and is a world leader in the deployment of FTTx. One of the reasons behind this phenomenon is that South Korea established a robust national broadband development strategy which received widespread political support.' http://point-topic.com/content/operatorSource/profiles2/south-korea-broa...
Or maybe consumer electronics. Or cars.
Really, it is unimaginable that the South Koreans would decide to do such foolish things as invest in high speed rail or energy saving technologies. I'm sure they will meet with the same results as those other goals they set their society/economy in the past. Even the very idea of making money from exporting whatever high speed system they develop, undercutting their competitors just like they have with ships, cars, and many consumer electronics, is a silly dream, sort of like shipping coal by FedEx. Or shipping coal by ship, one most likely built in South Korea.
Sheesh, turn off the vinegar and bile spigot will y'all?
here, this should set you all right:
http://www.youtube.com/watch?v=Bwppplxq0yo
Merck, DuPont, Delta and BNY Mellon have issued earnings. S&P futures now indicate an open below yesterday's low.
"Ethical corruption makes it all possible"
Orwell's O'Brien would have liked that.
Pavel Chichikov
Broward Horne,
Jesus truly rose from the dead.
I think thats something to be bullish about. The world has always been a loser, but God the creator is All and Eternally Good.
This is the great and true reason for hope.
May all of our investments and decisions be made in accordance with the will of our good God, so that His kingdom may be seen and lived on earth, as it is in Heaven.
May all men follow, to the best of their ability, the will of God and the way of Truth and true Love.
This includes all public officials.
Forever. Amen.
Money for Nothing and your Chicks for Free
reptillian (member) wrote on Tue, 04/21/2009 - 7:44am.
S&P futures now indicate an open below yesterday's low.
Is the 6-wk pseudo-bull market over for now as May 4th looms?
News from the home front, where real people feel real hurt:
http://news.bbc.co.uk/2/hi/business/8009024.stm
Pavel Chichikov
Barofsky will likely do a great job overseeing TARP allocations, just as Israeli agent Jane Harman (D-Tel Aviv) did at the Intelligence Committee.
USA = TTT = theft, treason and turpitude.
The system is rotten to the core; time for a reset, big time.
Broward,
Every complex society we know of has followed the course of development you see around you now. The greatest promise of secular hope in the US is the immigrant community. Fresh hope, energy, youth and creativity.
Pavel Chichikov
....keep moving.......nothing to see.....move along........it's all been modeled.......they have seen our future........there is no hope.....increased spending will just prolong it a bit........the banking alumni are being hired by the FedGov to help with the compartmentalized looting that is taking place until the final trains leave Dodge City with all the VIPs. They've seen the results - there are no cures - no solutions modeled helped in the final outcome - pesticides are destroying the bee colonies - after which their death will destroy mankind (100-million people required to replace bee pollination).
......one Hell of a dream I had last night. I'm trying to find a gun big enough to shoot holes through it - it's not working yet before coffee.......
- - - - -
Black 
Ranch
"Is the 6-wk pseudo-bull market over for now as May 4th looms?"
Could be. BAC is down about 6% right now. THE BKX index is down about 4%. The banks are leading us down, I guess. XLF, the financial sector, is down about 3%.
From my casual browsing of the InPlay earnings announcements of the last the few days, it appears that many of the companies that beat on EPS, miss on revenues.
Beijing has secretively begun to dig in the global financial and economic system in order to escape the « dollar trap » by the end of summer 2009.
Once the US has defaulted on its debt, it will be everyman for himself, China is positioning itself with commodities in abundance....Going to be real interesting around here in 6 months.
But the Media says were turning the other cheek, and volatility is back...my my my how quick $ Trillions vanish in a deflated environment.
Keep buying that Gold and Silver.
This chart says it all:
http://www.leap2020.eu/photo/grande-1327496-1749265.jpg?ibox
CAT reports first loss since 1992. Cuts outlook. Stock down about 4% from yesterday's close.
Coca-Cola, KO, met expectations, but profit fell about 10% from the same quarter a year ago. Down about 1% from yesterday's close.
Article mentions Barofsky's report.
"CAT reports first loss since 1992. Cuts outlook. Stock down about 4% from yesterday's close."
I guess their promise to hire back workers if the stimulus package passed is not looking like a smart move.
Wow, angry people on here last night. Hoopajoops, that was hilarious...Pre market trading looks very bad for financials again this morning...
"U.S. Regulators Put Emphasis on Loan Quality in Tests........banks' lending practices need to be given as much weight as macroeconomic scenarios in determining the health of each bank,
http://www.bloomberg.com/apps/news?pid=20601087&sid=atVfnBjVKZO0&refer=home
.....is this something new? Kids don't gain their emotional and mental maturity until later nowadays, could this be also the case in "business sense"? I can't believe there would even be discussion on this much less an article of mention.
- - - - -
Black Ranch
Good morning CR et al
May make for an interesting day.
Source: Bloomberg
Bank of New York Mellon slipped 7 percent to $26.06 in pre- market New York trading. The world's biggest custody bank said first-quarter earnings fell 51 percent to $370 million as the decline in equity markets eroded recordkeeping and money- management fees at the New York-based company.
KeyCorp. slid 8 percent to $6.81. Ohio's second-largest Bank said it plans to cut its dividend to 1 cent a share as it wrote down assets and set aside more money to cover bad loans.
The Cleveland-based bank's quarterly loss was $488 million, or $1.09 a share. The bank was expected to have a net loss of 22 cents a share, according to the median estimate of six analysts surveyed by Bloomberg News.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
------------------
sacrealstats
"You call me Francis again, I kill ya!"
great movie
1 currency now -yogi (member) wrote on Tue, 04/21/2009 - 1:38am.
...Hey Werner, you may not be as well off as you thought. There's more where this came from, believe me...
Interesting , so why do the Jews get back what was their property before 1940 and the Palestinians not ?
Spx rallied from 666 to 875
yesterday's close: 832
827 = 20 dma
809 = unfilled gap
790 = 50 dma and 38% retracement
770 = 50% Fib retracement
Base hits win ball games.
.............................
If you don't take your profits, someone else will.
3. The prophets of doom have had a field day. Yet we feel strangely comfortable with the Cassandras. We have enjoyed being told that the light at the end of the tunnel signals an approaching train. Now we will have to get re-acquainted with the optimists – a much more dangerous and unsettling bunch of people...
Hitler was an optimist.
Yes, of course we've enjoyed the chance to birdwatch and needlework. As long as you don't starve, it sure beats working for corporate slave masters who treat you like disposable parts. Who the hell really wants to go back to that?
Anyone out there familiar with Dmitry Orlov's "Rethinking Collapse"? It has the shocking thesis that collapse doesn't have to result in Mad Max chaos, which is another fallacy the corporate world is trying to keep people in fear of. The corporate world does not want you to know about the birdwatching and the needleworking and the carpentry and gardening.
3.35 yard rushes win football games
*************************
if you don't trademark your tagline, someone else will.
pesticides are destroying the bee colonies - after which their death will destroy mankind (100-million people required to replace bee pollination).
Don't forget the decimation of 80-90% of brown bats in the northeast due to a mysterious fungus. What might this do to the disease-carrying mosquito population?
Waiting for a new thread...
NEW POST at Calculated Risk.
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Sorry, have not yet read back.
Is there video for Timmeh's inquisition? What time (Eastern) is it?
Can't wait to see the tone of that.
Thanks in advance.
Hoopajoops LTD (member) wrote on Mon, 04/20/2009 - 11:13pm.
And by you people I mean lucifer, werner, whoever the anonymous shithead is, and a lot more of you fuckers strangling this blog with your worthless, destructive shit.
a) thanks for the expletive .
b) If you have a logical argument against what I say , please say so . I can take logical arguments .
c) If you have a problem with "free opinions" say so .
d) whatever I do is just words. What you Americans do is real hurting people all over the world (by cheating and money-printing) , not just words !
e) Hey , I learned on this board that it is considered "cool" to "not to play by the rules" and take advantage of these spooney suckers ! So, what are you complaining about ??
Outsider (member) wrote on Tue, 04/21/2009 - 9:17am.
pesticides are destroying the bee colonies - after which their death will destroy mankind (100-million people required to replace bee pollination).
Fortunately, main caloric needs of humans are satisfied by non-insect, wind cross pollination (eg, grains).
Werner,
I could be mistaken, but I think Hoops isn't an American. (But in general, I agree with your points).
Werner,
Let me clarify my earlier comment (9:24 am):
I don't agree with:
d) we're not the cause of most of the world's ills, financial or otherwise
e) I don't know what "spooney" means so I can't endorse this statement
The special inspector general has a total staff of 37 people.
37 to safeguard trillions.
37.
That's either amazing efficient or amazingly dumb -- time will tell. YIKES!
Barofsky's review has so many of us asking why and how the rescue strategies chosen by the Obama administration were supposed to work and for whom. Seems like a long way around to build consensus for liquidation.
werner,
Hoops is rightly complaining that you and your pals add nothing of substance to the blog, but inject poisonous racist remarks or useless, repetitive rants.
On an earlier thread I posted the info from the Bundesbank that the German decline is accelerating, as manufacturing, exports, employment and now tax receipts in Germany are falling.
Have you anything useful to offer on Germanys' situation?
Ugly pointless rants waste bandwidth and drive away the best posters. Consider the Yahoo boards...more appropriate for you.
The Treasury Dept Inspector General all bark and no bite.What a waste of taxpayer money.
Yea !!!!
http://econpictures.blogspot.com/