Comments for Travel Spending: Cliff Diving
CRbot says:
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/8165641367029454878
CRbot Thu Mar 19 20:16:15 2009 CDT #
Nemo says:
Wow, that must be a lot of pent-up demand for travel.
Nemo Thu Mar 19 20:16:45 2009 CDT #
CRbot says:
CRbot presents, (with apologies in advance to FFDIC), a new feature called:
F'D FDIC: Breaking sounds from the bankerfront...
March 19, 2009 - PR-42-2009 FDIC Closes Sale of Indymac Federal Bank, Pasadena, California
You're WELCOME, crispy&cole. I very much hope you're satisfied now.
... now hammering FDIC's site more than 12 times faster. I hope YOU'RE very much satisfied now, Wisdom Speaker. Good luck keeping up, mere mortals.
CRbot Thu Mar 19 20:19:00 2009 CDT #
nades says:
Did Michael Dell buy it? He is going LONG SoCal. He bought part of that giant air force hanger that was an ecological disaster. (I think the gov will pick up the bill on that tho, IIRC)
Still its a lot of confidence in SoCal....
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nades Thu Mar 19 20:27:39 2009 CDT #
Lucifer says:
The old ways do not work anymore.
Lucifer Thu Mar 19 20:21:35 2009 CDT #
nades says:
Michael Lewis has a good Iceland write up http://www.vanityfair.com/politics/features/2009/04/iceland200904?printable=true¤tPage=all
nades Thu Mar 19 20:24:23 2009 CDT #
Anonymous says:
The Federal Deposit Insurance Corporation (FDIC) has completed the sale of IndyMac Federal Bank FSB, Pasadena, California, to OneWest Bank, FSB, a newly formed Pasadena, California-based federal savings bank organized by IMB HoldCo LLC. OneWest will assume all deposits of IndyMac Federal. IMB HoldCo signed a letter of intent with the FDIC on December 31, 2008, to purchase IndyMac Federal.
Anonymous Thu Mar 19 20:25:07 2009 CDT #
Lucifer says:
Why are we running the world as if it was the 15th century?
Today we cannot run the world based on the old concepts- namely only the rich have to be well off. We live in a system that will collapse if the average person becomes poor.
Most of our economic concepts are based on a world that existed from 1400s to 1920s. We tried to patch the system in the 1930s. Patches do not hold forever.
It is time to upgrade the system, and I have no illusions that people will do it willingly.
Lucifer Thu Mar 19 20:25:38 2009 CDT #
peAk says:
All the crime, corruption, overspending and waste has taken place under the guise of upgrading corporate and local, state and federal systems and programs.
Congressional, government, corporate and civilian participants in this fed-sponsored 25 year cancerous credit growth will never see the necessity of bringing spending down and back into some historic relation to newly reduced personal income levels, and will only be unwillingly forced into accepting the necessary financial downgrades by insurmountable dislocations in currencies, trade and asset and debt valuations.
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peAk Thu Mar 19 23:06:32 2009 CDT #
Mel says:
Don't make any hotel plans without trying Priceline--name your own price. I stayed at a top Mariott in a NY suburb, paid $68/night. Next time I'm going to bid even less--first class at hot sheet prices.
Mel Thu Mar 19 20:26:46 2009 CDT #
Michael says:
What does this mean for the cruse ship business?
Michael Thu Mar 19 20:27:17 2009 CDT #
nades says:
Thinking about going long? LOL!
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nades Thu Mar 19 20:29:46 2009 CDT #
REBear says:
Obama seeks patience, says economy will recover
REBear Thu Mar 19 20:29:18 2009 CDT #
Michael says:
I've lost all patience with my government, especially with what BB did yesterday, FUBO!
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Michael Thu Mar 19 20:39:31 2009 CDT #
Lucifer says:
Does it matter if we call this a depression or recession? I mean.. does the name affect the momentum now?
Lucifer Thu Mar 19 20:31:27 2009 CDT #
nova says:
I'm going to Austin in 4 weeks or so. I had to redo my travel request a couple of times. No direct flights if a stop over saves money
nova Thu Mar 19 20:31:34 2009 CDT #
Comrade alexei mikhailovich says:
In Austin for SXSW, hotel rooms to be had even as walk up. Shows that were packed 2 years ago are half full, many acts not even bothering to show. Long lines for free food, though, longer than the free drink line.
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Comrade alexei mikhailovich Fri Mar 20 00:55:10 2009 CDT #
treebeard says:
Interesting story in NYTimes regarding corruption and pensions.
http://www.nytimes.com/2009/03/20/nyregion/20morris.html?_r=1&ref=nyregion
treebeard Thu Mar 19 20:33:10 2009 CDT #
Comrade Kristina says:
I'm long tomato plants.
Comrade Kristina Thu Mar 19 20:33:29 2009 CDT #
Guest says:
Kristina never has anything positive to say.
Just sayin.
You should just give up and live in the hills now, get a head start since you seem to know what's around the corner.
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Guest Thu Mar 19 22:40:53 2009 CDT #
Rob Dawg says:
Michael says:Today, 6:27:17 PM PDT
What does this mean for the cruse ship business?
It is very distracting when a born and bred troll asks a real question.
The cruise ship industry is dead. All the current operators are leveraged beyond belief. People will still take cruises but just not at the prices necessary to support the current costs.
Rob Dawg Thu Mar 19 20:34:33 2009 CDT #
Michael says:
I resemble that remark.
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Michael Thu Mar 19 20:42:04 2009 CDT #
Lucifer says:
That is the real problem!
_________________________
More consumers are just a paycheck or two away from ruin
By Jennifer Waters, MarketWatch
Last update: 7:03 p.m. EDT March 18, 2009
CHICAGO (MarketWatch) -- Americans are in a collective state of financial depression as many admit they could only cover their bills for two months at most if they found themselves suddenly jobless, a nightmare more and more worry may come true.
The results of a bevy of surveys found a growing number of consumers are only a couple paychecks away from a household collapse even as many scramble to shore up savings. Rainy-day funds appear to be a distant memory as households burn cash to cover food and energy bills as well as mortgage and car payments.
Lucifer Thu Mar 19 20:35:27 2009 CDT #
nades says:
Illiquid or insolvent?
Tho I am beginning to think that writing about horror stories and pictures gets massive media attention. Last night Elmer posted a boston globe article with pictures. I'm willing to bet half to three quarters of those photos happened frequently before this recession. This thing is really grabbing the publics attention. Its cool to be a doomer....
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nades Thu Mar 19 20:42:38 2009 CDT #
nova says:
I'm long John Silvers myself
nova Thu Mar 19 20:35:53 2009 CDT #
Metabear says:
the "W" in Scottsdale just entered into foreclosure - anybody want to buy a hotel?
Metabear Thu Mar 19 20:36:30 2009 CDT #
Comrade Kristina says:
I get that feeling from my customers as well Lucifer. We're their ourselves now, hubby was laid off for five months, it ate every dime of our savings. I consider us some of the lucky ones, at least we HAD savings to begin with. He's back to work now so now we rebuild...sigh.
Comrade Kristina Thu Mar 19 20:37:13 2009 CDT #
Mannwich says:
No worries. Lots of cash on the sidelines waiting to come in here.
Mannwich Thu Mar 19 20:40:07 2009 CDT #
JimPortlandOR says:
Well, what SHOULD a clean room/bath cost for one night? A $1000/mo one bedroom apartment rents in many places and that's less than $33/night. So, $65.00 a night is still pretty pricey viewed as a comparable. Marriott is not better than a modern apartment in a big city, even if the bar is an elevator away (and the lonely lady that wants company). The travel industry has been f*cking the traveler far too long. $200-300 a night? Ridiculous.
JimPortlandOR Thu Mar 19 20:40:08 2009 CDT #
nova says:
Michael. I think there is someone copying what you say.
nova Thu Mar 19 20:40:47 2009 CDT #
Michael says:
More and more people here are getting on board with the notion of Freedom.
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Michael Thu Mar 19 22:42:07 2009 CDT #
ghostfacedinvestah says:
don't have to worry about the strong dollar keeping foreigners away anymore.
ghostfacedinvestah Thu Mar 19 20:41:28 2009 CDT #
Lucifer says:
Comrade Kristina,
We cannot have a capitalism that amplifies downturns in a consumer based economy. We did not have a real middle class before the new deal.
If this thing spins out of control it will start destroying the system in a very fundamental way. Most people do not realize that the last 80 years have been rather different from the previous millenia of human history- in terms of technology, wealth and system complexity.
What the rich assholes do not realize- they will be buried in the debris just like everyone else. Fiat currency is a bitch.. and we cannot go back to a gold standard (for reasons I am willing to explain in detail).
Lucifer Thu Mar 19 20:43:25 2009 CDT #
Comrade Coinz! says:
@Lucifer:
"and we cannot go back to a gold standard (for reasons I am willing to explain in detail)."
Please explain in detail.
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Comrade Coinz! Thu Mar 19 21:00:15 2009 CDT #
JimPortlandOR says:
Nades: I'm a severe gloomer (I think of it as realism) myself.
How many merit badges does it take to be a doomer?
JimPortlandOR Thu Mar 19 20:44:37 2009 CDT #
nades says:
dont get me wrong i'm half way between this hole faaker blows up (fiat et. al.) and we'll be ok and it will be business as usual in 4 months. i mean aside of one layoff our company had 10% of force i've been largely unaffected. most of my buddies are in the same boat. i only know 2 people who have been laid off out of say 50... some people have changed spending habbits but mostly cause of media not cause of changes in cash flow...
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nades Thu Mar 19 20:48:34 2009 CDT #
nova says:
lucifer said ...(for reasons I am willing to explain in detail).
Thats ok. I'll pass on the offer.
nova Thu Mar 19 20:45:10 2009 CDT #
Anonymous says:
Classic Marc Faber - final comment in this OZ video - buy farms and shotguns cause thing will get very bad...
http://www.abc.net.au/reslib/200903/r350188_1604430.asx
Anonymous Thu Mar 19 20:47:25 2009 CDT #
nades says:
If Faber starts talking about getting a BMW Enduro I'm all ears! :) (sorry just finished the long way round)
.......
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nades Thu Mar 19 20:49:48 2009 CDT #
Lucifer says:
nova,
If you go to a gold based currency it might be worth thinking about one funny fact.
Most of the private and unaccounted gold in the world is in places like India.
Lucifer Thu Mar 19 20:48:48 2009 CDT #
Anonymous says:
"The cruise ship industry is dead. All the current operators are leveraged beyond belief."
could that perhaps have been the reason for the bump in housing starts (or do staterooms not count)?
Anonymous Thu Mar 19 20:50:27 2009 CDT #
nova says:
lucifer, Really? I thought it was in Switzerland. Interesting.
nova Thu Mar 19 20:51:12 2009 CDT #
nades says:
i think hes right. indians have lots and lots of gold. house holds hoard the stuff... granted its never pure gold, its that coppery colored stuff... 12k maybe?
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nades Thu Mar 19 20:53:36 2009 CDT #
Lawyerliz says:
Au contraire, Indian gold tends to be very pure, and
as a result, very soft.
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Lawyerliz Thu Mar 19 21:07:53 2009 CDT #
rapunzel says:
On the contrary, in India, they have 22 & 24 Karat.
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rapunzel Thu Mar 19 22:06:51 2009 CDT #
nades says:
then why is it orange?
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nades Thu Mar 19 22:23:46 2009 CDT #
bobn says:
nova: if it is "private and unaccounted gold", how do you know where it is?
bobn Thu Mar 19 20:52:13 2009 CDT #
Rob Dawg says:
Candidate for cliche of 2009: "Cash on the sidelines."
Rob Dawg Thu Mar 19 20:52:54 2009 CDT #
bobn says:
oops I meant Lucifer
bobn Thu Mar 19 20:52:56 2009 CDT #
Lucifer says:
I think the only real solution to this problem is one that most ideologues cannot stomach.
-Just give people enough money to live a decent life, with two conditions.
1. You cannot use it to service any debt.
2. You have to spend every last cent of it. No carryover for the next year.
Lucifer Thu Mar 19 20:53:11 2009 CDT #
prairiedog says:
Discussion at Thursday dinner tonight touched on the notion that faith has been lost in the monetary system. And what is to follow? Barter and beads? I'd be willing to barter giving a nights lodging for an hour's hoeing the garden. Wonder when we'll get to that.
prairiedog Thu Mar 19 20:53:43 2009 CDT #
change, my ass says:
Couldn't read any threads today. OT question: Is anyone buying the weak dollar/QE/long commodities meme? After the results by AA and Nucor this week, why would people pile in at this point?
change, my ass Thu Mar 19 20:53:44 2009 CDT #
nova says:
bobn says: if it is "private and unaccounted gold", how do you know where it is?
Because his sources are much better than any one elses?
nova Thu Mar 19 20:54:21 2009 CDT #
bobn says:
"Cash on the sidelines." - yeah, in my gun safe, going nowhere anytime soon.
bobn Thu Mar 19 20:54:28 2009 CDT #
Lucifer says:
I think you underestimate the amount of private gold in India. It is not unusual for people who live in despicable conditions to have a pound or so of gold.
Of course, no body uses it nowadays- but it is passes in the family.
Lucifer Thu Mar 19 20:55:13 2009 CDT #
nades says:
americans buy diamonds, indians buy gold... sad but true....
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nades Thu Mar 19 20:57:57 2009 CDT #
Some Investor Guy says:
The strong dollar worries me too. I had not expected so much of the world to end up with economies shrinking faster than the US. I did expect that if they were places with questionable currencies and/or lots of corruption, they and their money would try to come to the US.
Some Investor Guy Thu Mar 19 20:56:34 2009 CDT #
nades says:
SIG i think that our problems were exposed much faster and the ripple hits everyone faster based on the efficiency of our economy. it may be in the sh*tter now but its still the best in the world. i think the rest of the world is even worse than is presently apparent... it takes a while for the wave to develop elsewhere...
(debt levels being equal that is)
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nades Thu Mar 19 21:00:50 2009 CDT #
Lucifer says:
Even people who live in slums typically give away 200-300 grams of gold in marriage (as jewelry).
Lucifer Thu Mar 19 20:56:36 2009 CDT #
Rob Dawg says:
Lucifer says:Today, 6:48:48 PM PDT
nova,
If you go to a gold based currency it might be worth thinking about one funny fact.
Most of the private and unaccounted gold in the world is in places like India.
India didn't import any glod last month. If you know what that means no more explanation is required. If you don't know what that means no amount of explanation will suffice.
Rob Dawg Thu Mar 19 20:57:42 2009 CDT #
Lucifer says:
Most of gold jewelry in India is 22 or 24 carat stuff. Even poor people have a lot of that stuff.
Lucifer Thu Mar 19 20:58:56 2009 CDT #
nades says:
ha. one of the girls in my class claimed that they had 24k stuff... its almost orange / copper colored. i've got tons of it laying around my house. its no where close to that purity...
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nades Thu Mar 19 21:03:07 2009 CDT #
Anonymous says:
"Change, my ass"
Why do you think the dollar is not weak? Why wouldn't you be long commodities, etc with the fed printing like crazy?
How could we still have price (commodity) deflation? How can the fed print trillions, the gov't borrow trillions and put it directly into the economy and not have inflation?
What is this AA and Nucor stuff? I have no idea what you are talking about.
Anonymous Thu Mar 19 20:59:09 2009 CDT #
nova says:
I think we should use Obama Commemorative plates. Not as many of them out there and if things get worse. Well they will be even rarer!
nova Thu Mar 19 20:59:10 2009 CDT #
Lucifer says:
I think you forget that much of the gold in India has been around for a long time (often for hundreds of years). It is just recycled into newer jewelry. If gold became money, it would come out real quickly.
"India didn't import any glod last month. If you know what that means no more explanation is required."
Lucifer Thu Mar 19 21:00:54 2009 CDT #
poic.v20 says:
I live in a neighborhood with a lot of Chinese and Indians. Last year thieves scoped out the neighborhood and broke into multiple houses. All of them Indians and Chinese (thinking they would have cash and gold at home).
This has been happening a lot around this area in the last year or so.
poic.v20 Thu Mar 19 21:01:43 2009 CDT #
nova says:
Please explain in detail. said Coinz
I weep for this thread
nova Thu Mar 19 21:01:46 2009 CDT #
poic.v20 says:
A gold backed system places severe limits on the level of debt a country can create. Not very good for a system that requires constantly expanding debt to not implode.
poic.v20 Thu Mar 19 21:03:15 2009 CDT #
nades says:
i think that a constantly expanding monetary base is only a function of an expanding population. if that were to slow world wide we might hit a ceiling... just my theory...
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nades Thu Mar 19 21:06:46 2009 CDT #
bobn says:
@Lucifer: since when is gold *not* money? By your assertions people are living in poverty while sitting on $16,000.
bobn Thu Mar 19 21:03:22 2009 CDT #
nova says:
“I live in a neighborhood with a lot of Chinese and Indians. Last year thieves scoped out the neighborhood and broke into multiple houses. All of them Indians and Chinese (thinking they would have cash and gold at home).
When I was kid they were after the fondue sets
nova Thu Mar 19 21:03:45 2009 CDT #
poic.v20 says:
"When I was kid they were after the fondue sets"
You lived in a Swiss neighborhood?
poic.v20 Thu Mar 19 21:05:13 2009 CDT #
Lifeguard1999 says:
Obamas to Plant White House Vegetable Garden
http://www.nytimes.com/2009/03/19/dining/19garden-web.html?em
Hey Comrade Kristina, even the Obama's are long tomato plants!!! Great call!!!
Lifeguard1999 Thu Mar 19 21:05:27 2009 CDT #
Rob Dawg says:
I think we need limited edition dollars. Youknow, instead of just a number 123456789 we need 123456789 of a 1234567890 limited edition.
Rob Dawg Thu Mar 19 21:06:14 2009 CDT #
Guest says:
Nemo subtle snark +1 on opening
Guest Thu Mar 19 21:06:50 2009 CDT #
Lifeguard1999 says:
From the article...
"The plots will be in raised beds fertilized with White House compost,..."
(Make of that what you will.)
Lifeguard1999 Thu Mar 19 21:08:33 2009 CDT #
Anonymous says:
BLAME WASHINGTON MORE THAN WALL STREET FOR THE
FINANCIAL CRISIS
Moderator: John Donvan
For the motion: Niall Ferguson, John Steele Gordon, Nouriel Roubini
Against the motion: Alex Berenson, Jim Chanos, Nell Minow
(pdf warning)
http://www.intelligencesquaredus.org/TranscriptContainer/Financial-Crisis-031709.pdf
Anonymous Thu Mar 19 21:08:39 2009 CDT #
Some Investor Guy says:
I keep coming back to this excellent article from the IMF, on the Albanian pyramid schemes of the 1990s. http://www.imf.org/external/pubs/ft/fandd/2000/03/jarvis.htm
"The government should make it clear from the outset that it will not compensate [participants in the scheme] for their losses. If this is not done, the fiscal costs are likely to be ruinous, and the moral hazard considerable."
Some Investor Guy Thu Mar 19 21:09:17 2009 CDT #
poic.v20 says:
bobn,
I heard many stories from my in-laws of Chinese holding on to gold, jewellery, pearls etc.. on threat of death if caught with them before and after the Cultural Revolution.
Many families were extremely poor but still had some valuables that they hid in case they ever got the chance to escape.
poic.v20 Thu Mar 19 21:09:19 2009 CDT #
change, my ass says:
Anon: Nucor is a steel company that came out with horrible results this week. Steel is a commodity. What you might find in a steel, lettuce, and tomoto sandwich.
change, my ass Thu Mar 19 21:09:22 2009 CDT #
Guest says:
Just ate some snails and one grubb from my backyard. let the grubb sit for a week in tequila first. Yecch
Guest Thu Mar 19 21:09:23 2009 CDT #
ac says:
"I live in a neighborhood with a lot of Chinese and Indians. Last year thieves scoped out the neighborhood and broke into multiple houses. All of them Indians and Chinese (thinking they would have cash and gold at home)."
I keep all my wealth at home in dollars. That way I don't have to worry about anybody taking it.
ac Thu Mar 19 21:10:32 2009 CDT #
nades says:
cause no one wants them! WAAHHHOOOO ! ! ! 8-)
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nades Thu Mar 19 21:12:21 2009 CDT #
Lucifer says:
Comrade Coinz!,
Ok.. let us start with a simple question.
What makes the last 70-80 years different from the rest of history?
I would say that the combination of a real middle class and extensive + widespread use of technology makes the last 70-80 years unlike the rest of our history.
The next question is- What made this possible?
I would say that moving away from the gold standard allowed inflation that also helped create new wealth. Wealth is not money!
The whole "middle class" phenomena was possible because of credit expansion. Everything from R&D to people buying stuff was possible only because we could create new money at our whim (within limits).
The final question is - What happens if you remove or repudiate fiat?
The answer is that the system will collapse. But unlike previous ages where the gold standard never really disappeared from the public mind- we will have a system without any universally accepted currency.
We also have a fairly complex technological and trade structure that will come apart. Of course there will be wars- but unlike any other era, we have nukes today (and not just in white-majority countries).
It will not end well.
Lucifer Thu Mar 19 21:11:00 2009 CDT #
Anonymous says:
"A gold backed system places severe limits on the level of debt a country can create"
That's kind of the whole point.
Anonymous Thu Mar 19 21:11:29 2009 CDT #
I ♥ Timmy! ® says:
MARGARITAVILLE
http://www.youtube.com/watch?v=6cbX4DUACYU
T.S. Eliot - Growltiger's Last Stand
:-$
I ♥ Timmy! ® Thu Mar 19 21:11:56 2009 CDT #
Lucifer says:
Yes, they are! That is the irony.
"@Lucifer: since when is gold *not* money? By your assertions people are living in poverty while sitting on $16,000"
Lucifer Thu Mar 19 21:12:11 2009 CDT #
Lawyerliz says:
People are talking about crime more and more in Miami. Really they had stopped for a while. If you weren't in the drug business, you were pretty safe.
My cruise seller friend is busy out of his mind selling cruises. How Carnival Cruise is doing, i don't know.
Spring Break is doing well in Brevard County. On the surface things look just fine.
Glad the hub is working again Kristina. :)
Lawyerliz Thu Mar 19 21:12:15 2009 CDT #
AIG is helping Al Qaeda says:
Just went to Disneyworld yesterday and it was more packed than I've ever seen it.
Parent Post
AIG is helping Al Qaeda Thu Mar 19 21:39:34 2009 CDT #
Michael says:
Nobody going to Mexico for spring break this year.
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Michael Thu Mar 19 22:24:22 2009 CDT #
ac says:
“"A gold backed system places severe limits on the level of debt a country can create"
It's a good thing we didn't have those kind of limits here over the past 30 years.
ac Thu Mar 19 21:13:10 2009 CDT #
poic.v20 says:
"I keep all my wealth at home in dollars. That way I don't have to worry about anybody taking it."
And you can burn it during the cold winter months as well. :-D
poic.v20 Thu Mar 19 21:13:33 2009 CDT #
lawn grass says:
http://andrewsullivan.theatlantic.com/the_daily_dish/2009/03/why-the-letters.html
So they were not retention bonuses, they were retention salary incentives to stay around as the 300 people financial products groups destroyed the company and the world.
lawn grass Thu Mar 19 21:14:36 2009 CDT #
cashistrash says:
Anyone got any recommendations for cheap international travel? I'm not really into Iceland. I guess Eastern Europe is pretty cheap right now. Anywhere else?
cashistrash Thu Mar 19 21:16:49 2009 CDT #
Lawyerliz says:
Why not just pretend the derivatives and securitized stuff didn't happen. Some hacker should just go in there and destroy all the records!!
Lawyerliz Thu Mar 19 21:17:21 2009 CDT #
debtinator says:
Somewhere, somehow, there's a solution between adopting the gold standard and forming neighborhood soviets. Maybe it's good old American hard work and saving. Like your grandparents did.
debtinator Thu Mar 19 21:18:01 2009 CDT #
Barley says:
Nades - read the article - it was a good write up.
EHP - I've heard Vancouver is hitting the skids for tourism. The Carnival Cruise line is also going to make a dent. Is it about less disposable income for consumer or the gang land wars that are occuring?
Barley Thu Mar 19 21:18:21 2009 CDT #
Lawyerliz says:
By the way I read some of the Iceland article posted above & it was quite good. Number of trucks on I-95 during my trek north continuing to increase.
Lawyerliz Thu Mar 19 21:18:54 2009 CDT #
cd says:
poic,
you must be in fremont...I had to move because the Indian people were the worst drivers, were suspicious of anyone who said hi, rude, about as friendly as a cornered badger and too many other things to list...
cd Thu Mar 19 21:19:18 2009 CDT #
Basel Too says:
Wow.
A.I.G. Sues Government for Return of $306 Million in Tax Payments
Basel Too Thu Mar 19 21:19:28 2009 CDT #
poic.v20 says:
This is one area where the Elliot Wave Theory really makes sense. If you read the theory a lot of this makes sense and is pretty much part of the whole political/social/economic cycle that happens every 80 years or so.
poic.v20 Thu Mar 19 21:20:28 2009 CDT #
Lawyerliz says:
Now that's nerve, Basel.
Lawyerliz Thu Mar 19 21:20:42 2009 CDT #
Barley says:
"we should use Obama Commemorative plates"
LOL - Made out of stamped metal - produced in the very same factories that used to make car parts
Barley Thu Mar 19 21:21:42 2009 CDT #
Michael says:
You will not understand this concept because it was never taught to you in school. If you do understand it, it can be used to prosecute many injustices as a juror.
One person sitting on a 12 member Jury CAN be more powerful than even the president of the United States. What is the highest court in the land? No it is not the Supreme Court. It is the common law jury. One member, fully informed of their constitutional rights concerning the 7th amendment, sitting on a common law jury can overturn any law, and the decision is final. This was proven during the Bill Clinton trial that convened in Arkansas. Know Your 7th amendment rights.
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
Michael Thu Mar 19 21:22:14 2009 CDT #
Goofy Foreigner says:
It is not just the strong dollar keeping people away. The US government's stupid policies are helping. As of a few months ago, travelers have to submit travel plans in advance of arrival in what amounts to a back-door visa requirement for everyone.
And then, when you get to the US, you are welcomed with a pictures and fingerprints routine, plus an interrogation by an surly Homeland Security employee.
Too bad, I spent several happy years in the US, but I'm not visiting these days.
Goofy Foreigner Thu Mar 19 21:22:50 2009 CDT #
olmek says:
Interesting note for goofy foreigner; there are still many European travelars in many of our parks. Last summer we pulled up to the entrance kiosk at a western Colorado park. I rolled down the window of the motorhome, and the gray haired lady working the booth smiled and called out, "May.....I.......help......you?"
My first thought was that she had a speech problem, and could only speak slowly, one word at a time, well spaced. I answered, "Do you have any spaces available?"
She gave me a bright smile, and quickly said, "Oh, you're from here!!"
I said, "No, from California."
She kept smiling, and replied, "I meant America!"
She just wasn't used to having many U.S. citizens visiting the park. We see quite a bit of this during our summer traveling. Us "locals" pretty much can't afford to visit our own parks anymore.
It is fun, though, to visit with the folks from other countries. Interesting times, these are.
Parent Post
olmek Thu Mar 19 23:38:53 2009 CDT #
Lawyerliz says:
Speaking of car parts, we're bailing out some parts makers. They are more deserving than bankers, at least.
Lawyerliz Thu Mar 19 21:23:04 2009 CDT #
ac says:
I would say that moving away from the gold standard allowed inflation that also helped create new wealth. Wealth is not money!
The whole "middle class" phenomena was possible because of credit expansion. Everything from R&D to people buying stuff was possible only because we could create new money at our whim (within limits).
The final question is - What happens if you remove or repudiate fiat?
We were on the gold standard until 1971. Clearly fiat wasn't essential to the development of the middle class. Coincidently Nixon took us off of the gold standard just around the time the US began to turn into a debtor nation. The deficits and bubbles followed soon after.
Of course this is exactly what the history of fiat currencies would predict.
The key isn't really fiat vs. asset backed currencies. Or that a gold backed currency is a magic cure. The key is that the decision to abandon fiat is usually the first symptom that an economy is consuming more resources than it is producing, which ultimately is never sustainable.
Adopting a fiat currency allows this problem to be disguised via inflation. Unfortunately this usually causes the problem to worsen until the afflicted country becomes too diseased to rescue.
This may the point we have arrived at now.
ac Thu Mar 19 21:23:18 2009 CDT #
nades says:
an economy is consuming more resources than it is producing, which ultimately is never sustainable. ~ac
but throw in a few credit cards and some heloc's and you can have a slamming 10 years!
Parent Post
nades Thu Mar 19 21:32:19 2009 CDT #
debtinator says:
economy is consuming more resources than it is producing.
Production = consumption
Parent Post
debtinator Thu Mar 19 22:35:54 2009 CDT #
ac says:
“"I keep all my wealth at home in dollars. That way I don't have to worry about anybody taking it."
And you can burn it during the cold winter months as well.
Haha... I think I'm going to burn it this summer tough - it's taking up too much room.
ac Thu Mar 19 21:24:37 2009 CDT #
poic.v20 says:
cd, yes Fremont. A lot of the older Indians don't speak English and can appear stand-offish. But the younger Indians are very different and I've gotten to know some of their parents and underneath is very different from what's on the surface.
The driving. Oh man, try going through Marina and see the Chinese drivers :-D
poic.v20 Thu Mar 19 21:25:01 2009 CDT #
Lawyerliz says:
Nitey-nite. :*
Lawyerliz Thu Mar 19 21:25:52 2009 CDT #
Lawyerliz says:
New contest: who can be number 1 on the 2nd page.
Nitey nite again.
Lawyerliz Thu Mar 19 21:27:36 2009 CDT #
cd says:
poic, I hear ya, I'm in the sunset district, little chinatown...you speak the truth..
cd Thu Mar 19 21:28:16 2009 CDT #
Anonymous says:
Here its africans. They are horrible drivers and arrogant when they are wrong and almost have an accident.
Our massive unchecked immigration, now running massive influxes for the longest period on record, is ruining the social fabric and stability of this once great nation.
http://www.numbersusa.com
Parent Post
Anonymous Thu Mar 19 21:33:01 2009 CDT #
AIG is helping Al Qaeda says:
I will approve travel for all AIG senior executives straight to hell.
AIG is helping Al Qaeda Thu Mar 19 21:30:13 2009 CDT #
ac says:
... inflation that also helped create new wealth. Wealth is not money!
BTW the whole function of money is to represent wealth.
That's how it contributes to an economy - it provides a more efficient and uniform representation of various forms of wealth.
Inflation breaks the link between money and wealth.
In other words, it takes away the very quality that makes money useful to an economy.
Inflating the money supply is like taking the engine out of your car during a road trip because it's weighing you down.
ac Thu Mar 19 21:32:21 2009 CDT #
nades says:
Where do you get this stuff? Two gems! (2,5) Great post... Laser all....
Parent Post
nades Thu Mar 19 21:36:24 2009 CDT #
Comrade Kristina says:
Thanks liz, we're muddling along. Started in earnest to work on refi and finding scam after scam. You must have missed my post earlier. I'm refinancing a 129K balance, they sent me the paperwork that said I was borrowing 176K...The rate was different than they told me on the phone and they flubbed the income statements...unreal, they are still at it...scammers everywhere...
Comrade Kristina Thu Mar 19 21:33:33 2009 CDT #
ATM card and $19 in the bank says:
Questions for any tax experts here:
IIRC, when I received bonuses, the amount withheld was unusually high (due to special tax rates on "supplemental wages"), but later when I completed my tax return, the usual tax rates applied to my overall income and so the extra withholding almost always resulted in a refund.
Does it sound like I am remembering that correctly?
And if so, is it possible then that the proposed 90% tax rate on bailout bonuses will only result in increased withholding, but not increase the bonus recipient's overall tax obligation? Perhaps even generate massive tax refunds?
ATM card and $19 in the bank Thu Mar 19 21:35:26 2009 CDT #
bearly says:
[granted its never pure gold, its that coppery colored stuff... 12k maybe] Indians are picky about gold. They buy 22kt.
bearly Thu Mar 19 21:40:39 2009 CDT #
fried says:
Hey goofy foreigner,
no point in visiting us anyways...everyone is angry and irritable. Unfortunately, with a tanking dollar, most of us will not be visiting Europe again anytime soon...even biz travel is being slashed.
fried Thu Mar 19 21:42:01 2009 CDT #
fried says:
Lucifer,
if you're claiming that desperately poor Indians actually have gold, 16k worth...then something is wrong in India. NYTImes just did piece on child malnutrition...worse in India that subSaharan Africa, with nearly 43% of children malnourished. Link below, pictures are truly horrific.
http://www.nytimes.com/2009/03/13/world/asia/13malnutrition.html?scp=1&sq=india%20malnutrition&st=cse
fried Thu Mar 19 21:46:53 2009 CDT #
Anonymous says:
People! Hey People! You shouldn't be surfing the internet. Get to work so you can pay my mortgage. Then get a second job so you can pay my student loans. Then sell your blood, sperm or eggs so you can pay off my credit cards. Finally, raid your kids piggy banks and start collecting aluminum cans so you can pay for my vacation. With all this financial stress, I need a vacation. Remember, socialism doesn't work until we're all miserable. Now get busy!
Anonymous Thu Mar 19 21:49:23 2009 CDT #
Juan says:
Bubba if anyone is going to be screwing off around here I want it to be me.
Parent Post
Juan Thu Mar 19 22:08:16 2009 CDT #
Senorito American Mugabe says:
Lucifer,
If you don't think gold and PM's are money, then somebody tell the IRS. I am willing to get paid in face value 90% pre-64 silver coins. They sued the last guy, and lost, but hey, I will just tell them dimes and nickles aren't money.
Did you hit your head??
Senorito American Mugabe Thu Mar 19 21:49:55 2009 CDT #
Comrade Coinz! says:
@Lucifer,
I don't agree with your point that the middle class was created only because of fiat. It was created because of technological inventions that made people a lot more productive. Fiat was used and failed over thousands of years before the 20th century.
I do agree that credit can pull a consumption forward within limits, so some good things can come from it. The thing is, since we are flawed monkeys, we always screw it up and the down side probably outweighs the good.
Comrade Coinz! Thu Mar 19 21:52:10 2009 CDT #
Punditry says:
Obamas to Plant White House Vegetable Garden
that's ripe with potential stereotypical expressions
Punditry Thu Mar 19 21:53:02 2009 CDT #
Guest says:
Convicted con says this is the day. It's just time rerun
http://www.contrahour.com/ItsJustTimeMartinArmstrong.pdf
Guest Thu Mar 19 21:57:19 2009 CDT #
Lucifer says:
Many Indians never spend their gold. They just hoard it for a rainy day that never comes... Sad but true!
Lucifer Thu Mar 19 21:58:23 2009 CDT #
blonderengel says:
Who wants to travel anyhow?
The Awful Bunch
They dole out free socks in first class, free socks and lox
With tiny tomatoes, tomatoes you can’t be sure are tomatoes.
But they are red and cubed, so you go by first blush which let x be
Why a growing panic spreads through the cabin, front to back,
The songs of my generation, the thoughts of my generation, new words
From my generation, things you can dance to of my generation
Racing toward exit rows, toward the slow descent into water,
Or, worse, minus 50 Fahrenheit mimosas, one
More fragile than the next, coughing up corruptible evidence
To support death by hanging for any offense. They are
The evidence. They learned to beg the question, is it
Wiser to stumble from hole to hole looking for water than
To dig and dig deep for the occasional corpse—black and blue—
Which dot the landscape here and there. Like the copy
Of a copy of a copy squared and quartered and rounded
Up—if that’s still doable—no clues from the actual text. Just inference,
Blots, here and there, small coins to shut the lids, small
Wonder the machine jams, breaks up/out in a raging, slow
Moving bird, heaving, one last time: delivering lightning,
Not showing us how to use it against demigods,
At least not while they are within shooting distance.
____
http://relegated.blogspot.com/
blonderengel Thu Mar 19 22:00:01 2009 CDT #
Barley says:
Obamas to Plant White House Vegetable Garden
Sign of the times even the Prez has to grow his won food. Are garden veggies taxable?
Barley Thu Mar 19 22:00:10 2009 CDT #
Anonymous says:
The mayor of California's state capital unveiled plans on Thursday to shut down a sprawling "tent city" of the homeless that has drawn worldwide media attention as a symbol of U.S. economic decline.
http://www.reuters.com/article/bondsNews/idUSN1945380420090320
Shamed the bastards into it.
Anonymous Thu Mar 19 22:05:50 2009 CDT #
Guest says:
Are we winning yet?
Guest Thu Mar 19 22:08:03 2009 CDT #
Black Star Ranch says:
The Obama Garden!
"The country’s one million community gardens, she said, can also play an important role for urban dwellers who have no backyards."
BTW, those seedling trays (72-plants) I use by the dozens. Two of them equates to about 125 heirloom tomato plants that fetch about $10 each here. Not bad for $15-20. of product.
Black Star Ranch Thu Mar 19 22:08:55 2009 CDT #
Oil Equations says:
The next question is- What made this possible?
virtually free energy.
Oil Equations Thu Mar 19 22:10:34 2009 CDT #
Michael says:
What happens to the value of an individuals labor if it is no longer permitted to be taxed?
Michael Thu Mar 19 22:20:03 2009 CDT #
nades says:
labor is not taxed. tho i'm rather sure you're aware of this....
Parent Post
nades Thu Mar 19 22:26:50 2009 CDT #
Michael says:
Income tax?
Parent Post
Michael Thu Mar 19 22:43:19 2009 CDT #
homedad43 says:
OT, but funny...courtesy of www.iowahawk.typepad.com
PALO ALTO, CA - An international mathematics research team announced today that they had discovered a new integer that surpasses any previously known value "by a totally mindblowing shitload." Project director Yujin Xiao of Stanford University said the theoretical number, dubbed a "stimulus," could lead to breakthroughs in fields as diverse as astrophysics, quantum mechanics, and Chicago asphalt contracting.
"Unlike previous large numbers like the Googleplex or the Bazillionty, the Stimulus has no static numerical definition," said Xiao. "It keeps growing and growing, compounding factorially, eating up all zeros in its path. It moves freely across Cartesian dimensions and has the power to make any other number irrational."
Jean-Luc Brossard, a researcher with the European consortium CERN, said the number is so staggeringly large that it is difficult for even mathematicians to grasp, let alone lay people.
"The number itself is incomprehensible by human minds, and can only be theoretically understood in a fractional parallel universe which we refer to as the DC dimension," said Brossard. "The best way to understand a stimulus is to imagine a dollar sign followed by a packed string of hexidecimal nanodigits, wound into a triple helix, woven into a dodecahedron, and stacked on top of one another. Now imagine you were a black hole on the far edge of the universe, trying to escape the stimulus at 30 times the speed of light. The stimulus would still catch up to you and ram your black hole with such furious, repeated force that it would cause your entire reality itself to collapse."
Xiao said the team discovered the number with the help of an international network of 24 nitrogen-cooled Cray Ultracluster supercomputers, the CERN particle accelerator, and "three pounds of Humboldt County Chronic."
"The exciting news is that with more powerful computers and drugs, we believe we are on the verge of discovering an even larger number, which we refer to as a 'stimulusconferencebill,'" said Xiao. "Speaker Pelosi has already promised us the funding."
homedad43 Thu Mar 19 22:33:23 2009 CDT #
homedad43 says:
economy is consuming more resources than it is producing.
Production = consumption
--------------------------------
Yeah, so what precisely is the point? Like a hamster in a cage.
This is getting to be like a Bergman film.
"I awoke this morning to find the birds flitting about a blue sky and the love of a good woman who carries my newborn son as she lovingly makes my breakfast.
I must now kill myself."
homedad43 Thu Mar 19 22:41:25 2009 CDT #
Black Star Ranch says:
".....a new integer that surpasses any previously known value "by a totally mindblowing shitload."
....wondering if that would be greater than 0 but less than 1? Also wondering if that would have been how my great grandfather Maxime Bocher (a math professor at Harvard) would have described it? LOL
Black Star Ranch Thu Mar 19 22:57:56 2009 CDT #
unirealist says:
Good take on the last few days in the equity markets, from Mike Morgan:
My very wise grandfather would say in Yiddish to one of his unscrupulous suppliers . . . Du kannst nicht auf meinem rucken pishen unt mir sagen class es regen ist.
This translates as . . . You can't pee on my back and tell me it is rain. Ben Bernanke, Hank Paulson and Tim "the tax cheat" have been peeing on our backs, and telling us it is rain. They want us to believe giving all this money to Wall Street will produce crops like rain on a field. But they don't explain that they are giving the good money (rain) to Wall Street and Bad Bankers. They don't explain that they are promising us bad money (pee pee) - the inflated money we will be dealing with for years to come.
Rain or Pee? Bernanke wants us to believe it is rain. But what Bernanke just did was agree to buy up toxic assets from banks and put them in the Federal coffers for you, me and everyone else to worry about later. Bernanke also made Bill Gross, Mohamed El-Irian and Paul McCulley at PIMPCO very wealthy men. I should say much wealthier men, because these three guys have been pimping the Fed all along. The trillion dollars ol' Ben is going to spend is not rain . . . it is pee. And it is really stinky pee at that.
http://realestateandhousing2.blogspot.com/
unirealist Thu Mar 19 23:00:40 2009 CDT #
Racist says:
Does Indian gold smell like curry?
Racist Thu Mar 19 23:01:52 2009 CDT #
Black Star Ranch says:
Last Tuesday, as President Obama got off the helicopter in front of the White House, he was carrying a baby piglet under each arm.
The squared away Marine guard snaps to attention, Salutes and says:
"Nice pigs, sir."
The President replies "These are not pigs...these are authentic Arkansas Razorback Hogs. I got one for Secretary of State Hillary Clinton and I got one for Speaker of The House Nancy Pelosi."
The squared away Marine again snaps to attention, Salutes and says,
"Excellent trade, sir."
(Compliments of economicrot: http://economicrot.blogspot.com/
Black Star Ranch Thu Mar 19 23:07:33 2009 CDT #
dryfly says:
Who says travel has to be expensive?
Not Hotel California...
dryfly Thu Mar 19 23:17:59 2009 CDT #
Pavel says:
We often look at a pet fancier's site called Dog of the Day.
Around here you'll need one called Scapegoat of the Day.
Pavel Thu Mar 19 23:22:18 2009 CDT #
Baca says:
Lucifer, agree with your take on capitalism. It's not working.
Rob Dawg: Agree, "Cash on the sideline" is getting old. Along with 'generational buying opportunity', 'green shoots', and most recently, '...shows stabilization.'
Baca Thu Mar 19 23:25:18 2009 CDT #
Comrade Bear (tj and the bear) says:
The whole "middle class" phenomena was possible because of credit expansion.
LOL! You were closer with the "technology" angle, but the truth rests with Oil Equations' answer -- virtually free energy.
Comrade Bear (tj and the bear) Thu Mar 19 23:29:07 2009 CDT #
CRbot says:
The Latest from Yves:
Merrill Writedowns: The Plot Thickens
CRbot Thu Mar 19 23:33:40 2009 CDT #
Comrade Bear (tj and the bear) says:
Lucifer, agree with your take on capitalism. It's not working.
Capitalism isn't the problem. You actively sabotage any system and it will fail, good or bad.
Comrade Bear (tj and the bear) Thu Mar 19 23:40:15 2009 CDT #
briareus says:
Yeah, if by "capitalism" they mean a grotesquely manipulated economy that plays favorites and thievery by fiat and leverage.
I see no 'free market', only one that is freer than a fullblown command economy.
Parent Post
briareus Thu Mar 19 23:50:09 2009 CDT #
CRbot says:
The Latest from Yves:
Guest Post: Road to Reflation?
CRbot Thu Mar 19 23:48:50 2009 CDT #
unirealist says:
The key isn't really fiat vs. asset backed currencies. Or that a gold backed currency is a magic cure. The key is that the decision to abandon fiat is usually the first symptom that an economy is consuming more resources than it is producing, which ultimately is never sustainable.
Adopting a fiat currency allows this problem to be disguised via inflation. Unfortunately this usually causes the problem to worsen until the afflicted country becomes too diseased to rescue.
This may the point we have arrived at now.
--ac 7:23
Often the clarity of your comments is outstanding, ac.
According to an interesting study on real GNP (which took into account such factors as resource consumption and environmental degradation), the US GNP went negative in 1969. (Sorry, from the 80's, no link.) BLS stats notwithstanding, the US has had a shrinking GNP ever since.
Going totally off gold in 1973 was a catastrophic decision. The empire should have been wound down instead. Hubris and an ideological straitjacket triumphed over realistic considerations.
unirealist Thu Mar 19 23:49:18 2009 CDT #
TC says:
I was walking the beach the other day (extremely packed) and many of the beachgoers were speaking dutch...
TC Thu Mar 19 23:50:47 2009 CDT #
CRbot says:
The Latest from Mish:
A Paycheck Away From Ruin
CRbot Thu Mar 19 23:56:56 2009 CDT #
lawn grass says:
Basel:
It is not surprising that AIG FP group overpaid their taxes. Dumbasses.
lawn grass Thu Mar 19 23:57:36 2009 CDT #
Anonymous says:
OT, but funny...courtesy of www.iowahawk.typepad.com
PALO ALTO, CA - An international mathematics research team announced today that they had discovered a new integer that surpasses any previously known value "by a totally mindblowing shitload." Project director Yujin Xiao of Stanford University said the theoretical number, dubbed a "stimulus," could lead to breakthroughs in fields as diverse as astrophysics, quantum mechanics, and Chicago asphalt contracting.
"Unlike previous large numbers like the Googleplex or the Bazillionty, the Stimulus has no static numerical definition," said Xiao. "It keeps growing and growing, compounding factorially, eating up all zeros in its path. It moves freely across Cartesian dimensions and has the power to make any other number irrational."
Jean-Luc Brossard, a researcher with the European consortium CERN, said the number is so staggeringly large that it is difficult for even mathematicians to grasp, let alone lay people.
"The number itself is incomprehensible by human minds, and can only be theoretically understood in a fractional parallel universe which we refer to as the DC dimension," said Brossard. "The best way to understand a stimulus is to imagine a dollar sign followed by a packed string of hexidecimal nanodigits, wound into a triple helix, woven into a dodecahedron, and stacked on top of one another. Now imagine you were a black hole on the far edge of the universe, trying to escape the stimulus at 30 times the speed of light. The stimulus would still catch up to you and ram your black hole with such furious, repeated force that it would cause your entire reality itself to collapse."
Xiao said the team discovered the number with the help of an international network of 24 nitrogen-cooled Cray Ultracluster supercomputers, the CERN particle accelerator, and "three pounds of Humboldt County Chronic."
"The exciting news is that with more powerful computers and drugs, we believe we are on the verge of discovering an even larger number, which we refer to as a 'stimulusconferencebill,'" said Xiao. "Speaker Pelosi has already promised us the funding."
Like this comment? [yes] [no] (Score: 0 by 0)Community assigned karma score: 0 by 0Mark as offensive replydeleteeditmoderate
Funny, but that piece is almost true.
Anonymous Thu Mar 19 23:59:59 2009 CDT #
lawn grass says:
Not sure what it means
Less of the same.
http://www.aigfp.com/alternate.html
lawn grass Fri Mar 20 00:05:45 2009 CDT #
volker the viking says:
barley writes: "EHP - I've heard Vancouver is hitting the skids for tourism. The Carnival Cruise line is also going to make a dent. Is it about less disposable income for consumer or the gang land wars that are occuring?"
## How do you (or anyone for that matter) figure this will impact on the upcoming Olympics scheduled for there? I know one guy looking for a fast buck working a scheme to 'help' people rent out their homes for the Olympics in Bellingham, WA. He's acting as agent and adviser, in it for a fast buck then down the road to his next scam.
volker the viking Fri Mar 20 00:18:18 2009 CDT #
Shelly says:
Nice blog!!!!
Shelly Fri Mar 20 00:20:52 2009 CDT #
fried says:
OT. The accelerating global decline in manufacturing, worst since the Great Depression....
http://www.nytimes.com/2009/03/20/business/worldbusiness/20shrink.html?hp
fried Fri Mar 20 00:23:26 2009 CDT #
Equity Credit Loans says:
We are living in a money-oriented world; everybody wants to earn more and more cheerfulness. Few days back I was in hunt of new house but being a working class lady I was not able to fulfill my dream, but one day I got a call from a bank and their offer was like a blessing in disguise for me. I got my dream home through equity loan. Isn’t it great??
Shelly Smith
Equity Credit Loans
Equity Credit Loans Fri Mar 20 00:24:40 2009 CDT #
volker the viking says:
nades writes: "labor is not taxed. tho i'm rather sure you're aware of this...."
## This comment has been nominated as the dumbest, most naive comment in the history of the intertubes. Labor not taxed? Are you shittin me? Are you that ignorant? Or are you a government worker?
volker the viking Fri Mar 20 00:41:41 2009 CDT #
Comrade Bear (tj and the bear) says:
unirealist,
I was thinking about your "back of the envelope" stuff yesterday, and -- upon reflection -- your calculations were very generous as to availability of foreign savings. We're so screwed.
Comrade Bear (tj and the bear) Fri Mar 20 00:43:14 2009 CDT #
donna says:
OK, already -- we'll go to San Francisco next week and spend like crazy! There, are you happy?
donna Fri Mar 20 00:48:03 2009 CDT #
peAk says:
Very sad that an otherwise loyal and intelligent populace remains so suppressed in the face of now-admitted federal AIG-Geithner-Dodd corruption as to still be unable to mount a collective responce. My protest effort for 3 months has been a standing order at my coin dealer's to buy all silver 1 oz. 'rounds', up to my weekly limit, that arrive at his shop, and he's never had over my limit. Others more capable regularly empty his gold inventory daily.
Recent moves in oil and today's seven per cent PM moves may indicate that a worldwide protest movement against U.S. congressional-federal corruption is alive and well, is coming in an unexpected form, and that justice may soon or ultimately devalue the paper spoils stolen from immobilized taxpayers by congress and their corporate patrons.
If the BHO coins were in fact .9999 gold or silver, the thought of OB ordering the seizure of his gold likeness during a run-a-way dollar flight from fiat paper gives some amusement to the unfolding worldwide credit-debt collapse.
peAk Fri Mar 20 00:57:02 2009 CDT #
Comrade Misean is Dope says:
"Travel Spending: Cliff Diving"
The irony just drips off that headline...Like water off a tourist exiting a secluded, tropical lagoon.
http://www.youtube.com/watch?v=MCBUzzBm4cg
Nostrovia,
Comrade Misean is Dope Fri Mar 20 00:57:31 2009 CDT #
CRbot says:
New Thread: FDIC Closes Sale of Indymac, Loses $10.7 billion
http://www.calculatedriskblog.com/2009/03/fdic-closes-sale-of-indymac-loses-107.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... upon the seat...
Of a hoopajoops built for two... families.
Rally mode + Printing Press == does not compute... does not-- com--- com... puttttrrrrhgh.
--Your systemic-failure-crashing bot
CRbot: Call me HAL.
CRbot Fri Mar 20 01:00:22 2009 CDT #
Lucifer says:
The problem is that old style capitalism has reached it's end, we require a new form of capitalism (with the desirable features of the old version without it's grotesqueries).
Lucifer Fri Mar 20 01:03:10 2009 CDT #
Lucifer says:
The peak oil gospel... hehe
"LOL! You were closer with the "technology" angle, but the truth rests with Oil Equations' answer -- virtually free energy"
Lucifer Fri Mar 20 01:04:06 2009 CDT #
Jay D. says:
My very wise grandfather would say in Yiddish to one of his unscrupulous suppliers . . . Du kannst nicht auf meinem rucken pishen unt mir sagen class es regen ist.
______________________________________________________________________________________
...........I would sai in Yiddish "chutzpah"..............
Jay D. Fri Mar 20 01:07:06 2009 CDT #
Comrade Bear (tj and the bear) says:
lucifer,
It's the "new style capitalism" that's screwed us over.
Oh, and though I do personally believe in Peak Oil, that has nothing to do with the relationship between energy, prosperity and population. Petroleum is central to our lives, and no other form of energy even comes close to it. Without it, the world would be much the same as it was in the 19th century.
Comrade Bear (tj and the bear) Fri Mar 20 01:17:17 2009 CDT #
END