iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,433 Blog Posts

FDR is the Matrix of Economic Stupidity

I just wanted to be “fair and balanced,” like that crazy man on cable.

Developing…

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105 comments

  1. mrkcbill

    Jed is a Toe Tapper

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  2. Jed

    mrkcbill and Zombie met in an airport bathroom.

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  3. jg

    F I G dammit.

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  4. YankeeStadiumUrinal
    YankeeStadiumUrinal

    Jed is the bathroom.

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  5. Fly, you want to be fair and balanced. That’s just being silly.

    There’s no justification to suggest that FDR’s policies that simply prolonged the depression, were anti-commerce and basically fascistic could compared with Reagan’s classic liberalism.

    That’s just a sick joke.

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  6. j

    oops that was me

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  7. FDR

    the wheel turns slowly, but am heartened to see it turn.

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  8. TheArtist

    I am easily satisfied with the very best…..

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  9. the prof

    dead on again, Fly. The only thing I think they should do, and this should not be construed as Leftie, is single payer health insurance. There is no way around this unless they start turning away the sick in the E.R. rooms. If you don’t do single payer, allow the health insurers in on this, then you’re doing it half-assed and you’ll end up with some disfunctional hybrid. We need to bite the bullet and put a program in place similar to what the army has. That should save about 1 trillion dollars per year of GDP, free up the labor force to start their own businesses, innovate, negotiate for a living wage, move between jobs. It would also stop far more foreclosures than you can imagine, since prior to this mess, half the foreclosures were related to unpaid medical bills. It’s far more “free-market” than anything the Right is proposing. Health is not a commodity. I have personal experience with this.

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  10. JED

    Zombie steals tissue paper from airport bathrooms

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  11. DEVILDOG

    New lows tomorrow…write it down

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  12. j_remington

    I foretold of the end of the Lunar NY pump…

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  13. Jorge

    Fair and balanced? The Fly = Sean Hannity? Oh lord…

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  14. zephler

    9/11 was an inside job – jet fuel and construction materails do not burn hot enough to melt structural steel – duh!

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  15. Henry Fool

    DVAX up 30% has me up 2.5%

    Nice!

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  16. TheArtist

    With the USA having about 99% of its citizens the laziest humans on the planet, I can’t believe even in this recession that La-Z-boy (LZB) is down to .90 cents?

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  17. sniper6

    taking profits in HK, PBR, yay, sniper6 wins!

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  18. sniper6

    Z-
    Steel doesn’t need to melt for a structure to fail. Thermal expansion leads to P-Delta effect & results in buckling of columns in compression.

    Now fuck off.

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  19. Razncane

    With Sr. Clawhammer Fly lovin’ on DUG- maybe it’s a buy (steal) @21.40

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  20. j

    Prof

    We have single payer here in Australia which is the system being talked about in Washington in terms of emulating. It sucks. The cost is hidden but it represents about 8% of GDP which is about the same as the US if you strike out medical R&D costs the US has and we don’t as well as the remarkably paper intensive US system that breeds inefficiencies.

    You need single payer privately funded with a tax breaks. that should introduce competition as people look around for cheap deals

    socializing the medical system doesn’t work as it doesn’t introduce price the price single in the market.

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  21. rosie o'donnell

    steel does not melt.

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  22. MOOBER

    Sold 2k GE. Even a blind MOOBER finds a nut!

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  23. TraderCaddy

    I see nothing.
    VIX up, chips and homies suck and a few financials up.
    Tiger Woods has a baby boy.
    Exciting Bud Shootout at Daytona.
    Naptime.

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  24. TheArtist

    bought AMR thursday in afterhours @ 5.22 sold today @ 5.54.
    waiting for a pullback, will jump back in again.

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  25. rosie o'donnell

    forgot to mention…donuts have zero calories

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  26. TraderCaddy

    One more thing.
    Maria B. looks like crap.

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  27. Donny

    Monetary Policy-

    This venue is about banking coin, not discussing subprime ideas. I repeat, you are too old for this venue.

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  28. sniper6

    bought long JRCC 15.70 for a trade

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  29. JakeGint

    That should save about 1 trillion dollars per year of GDP, free up the labor force to start their own businesses, innovate, negotiate for a living wage, move between jobs.

    The one sixth of the economy that “innovates, etc.” in the health care field be damned.

    As well as our health.

    It blows my mind that given the example just north of us (not to mention the myriad crumbling gummymint health care systems worldwide), this is even on the table.

    If we socialize our health care system, where will Candadians go to be rescued from their own?

    So selfish to do the Canuckistanians wrong like that!

    ______________

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  30. zephler

    molten steel was easliy seen in the windows and at the crash site…the building was built to survive plane crashes…wake up america!

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  31. Medicare4All

    If we socialize our medicine, orthopedic surgeons and organ transplanters in India
    will go bust.

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  32. CAP

    FLY – Whats up with this gay threesome of mrkcbill, Jed and Zombie. Really ? Don’t they have a gays anonymous website or something where these 3 fags can continue their fudgepackery.

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  33. zephler

    Canada’s health care system works fine, why do you think everything else is crumbling? It’s not – it’s the US that is crumblng and failiing – socialism has worked for hundreds if not thousands of years – capatilism lasted just over 100 – not the most robust system obvioulsy.

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  34. Granpa

    Hey Donny what’s up? Banking coin is what this whole site is about, discussing subprime could very well be related. I don’t get what the fuck toilet paper has to do with it?
    DUG looks good for today if it can hold that 21.40 on this down move. XOM and CVX seem to be rolling over on the shorter time frames.

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  35. mrkcbill

    CAP go suck your wiener.

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  36. Special Ed Teacher
    Special Ed Teacher

    Zephler, oh there you are you little shit, put on your helmet, we’re taking the short bus on a field trip to the cracker factory!

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  37. Jed

    CAP…isn’t it true you like to give yourself a dirty sanchez after you suck your own dick?

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  38. j

    Osmond:
    Are you gay?

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  39. JakeGint

    Ed HOC-huli and his friends (including Karen TSO) running down the field and stripping garments off of lesser field officials.

    __________

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  40. Big Mike

    Anybody noticed Mosaic up from $32 on Jan. 22nd to $48 right now? I will buy some puts here…wayyyy overbought…

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  41. sniper6

    pretty good volume on IPI, running way in front of POT, may be worth a short sell…

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  42. TheArtist

    Big Mike, also don’t you feel GS is overbought at 97.00 considering it is a 20.00 dollar stock?

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  43. JakeGint

    Canada’s health care system works fine, why do you think everything else is crumbling? It’s not – it’s the US that is crumblng and failiing – socialism has worked for hundreds if not thousands of years – capatilism lasted just over 100 – not the most robust system obvioulsy.

    ROFLMAO!

    Again, “the fish.”

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  44. Proshares

    Playing Lotto’s with CNB and RF

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  45. Proshares

    TO: Senior Leaders —————————————-

    FROM: Dowd Ritter

    DATE: February 6, 2009

    RE: Regions Assists FDIC by Acquiring Deposits of Georgia Bank

    We have announced today that Regions has acquired from the Federal
    Deposit Insurance Corporation (FDIC) approximately $285 million in total
    deposits of FirstBank Financial Services in Henry County, Georgia. For
    the second time within five months, the FDIC has asked Regions to
    provide a safe harbor for customers banking at a failed institution. Our
    Integration Team is prepared to execute the conversion process, and we
    are confident we will see the same excellent results achieved with the
    Integrity integration. This acquisition reinforces the fact that
    despite the challenges facing all banks, there are opportunities for
    strong institutions like Regions to expand their customer bases.

    Under the terms of our agreement with the FDIC, Regions will provide
    banking services to former FirstBank customers, and the bank’s four
    branches in Henry County will begin operating as Regions branches
    beginning Monday, February 9th for a 90- day transition period. During
    this period, approximately 6,400 FirstBank customer accounts will be
    transitioned to Regions accounts, with customers being able to enjoy all
    the products and services available throughout our 16-state franchise.

    As leaders, you are in an important position to share this good news
    with associates. Please stress that this acquisition is an excellent
    example of Regions’ strength and stability, as well as our commitment to
    build for the future.

    I want you to use the attached talking points document when you meet
    with your teams to communicate this information. I appreciate your
    continued leadership and support as we share this positive story.

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  46. j

    Both Deutsche and Barclays reported a sever bout of profititis in a week. Could be contagious?

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  47. Donny

    Gramps-

    Please don’t misinterpret my statement about J (aka Monetary Policy) being subprime. He is boring and his old school economic ranting is tiring and old. People come here to discuss ideas on banking coin, not being preached to by an old, angry fleabag.

    As for SubPrime mortgages. I am very aware that they played a huge part in banking coin. Trust me, I know. You see, Donny, lives in what was the former SubPrime capital of the world … Orange County, CA.

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  48. TheArtist

    GE currently trading at another great leg up for a short to its next leg down to 8.50, less CNBC upside rumor invented fuckery.

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  49. DEVILDOG

    New lows this week…write it down you stupid cows…

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  50. JakeGint

    Dollar dropping again.

    Important.

    ____________

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  51. sniper6

    and, sold JRCC @ $16.50, 4.5% gain in a half hour, I’d like to do that more often!

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  52. JakeGint

    Ed HOC-huli holding Devil Dawg down, punching him in the head and rambling inchoherently.

    “The Founder of Dupont Died centuries ago!”

    (punch)

    “Endlessly repeating the same lines over and over is BORING!”

    (punch)

    “I’m sick of WRITING DOWN your incorrect predictions!”

    (punch)

    “The Cowboys suck!”

    (punch)

    Write…

    (punch)

    THAT…

    (punch)

    down!

    (punch-squelch)

    _______

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  53. mdawsz

    I’m seeing dead devildogs

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  54. MOOBER

    AA BTFO?

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  55. Thunderpup

    Excellent performance by Ed HOC-huli.

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  56. TheArtist

    yep…. here we go, CNBC Rumor Inventing Fuckery Team, starting right now with another dose of convincing people to buy into the market because it can “only go up”….. and they timed this dose of fuckery perfect since the DOW just turned green, how perfect……

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  57. mdawsz

    Boomer…dollar down as the Jintster said…

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  58. hmmmmmm

    Jake-

    I got a confirmation of triangle gap breakout to the downside on UUP. Kudlow is drawing a bath, ready to open his veins. Hopefully the mustard won’t clog the drain.

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  59. TenJedd

    sheesh….sounds Pisani thinks he is in the Zone!

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  60. VIZ

    i live in canada…and our healthcare system is a piece of shit…6 months to get an MRI, 8 hrs for my kid in emrgency room….when im in scottsdale thats where me and family do all our yearly physicals etc…nothing like high quality private US healthcare…not cheap but top notch

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  61. JakeGint

    One a more serious note, Ed HOC-huli has punched it’s turtlehead above the short term 61.8% (strong) fib from the 9/19 to 11/21 downplunge, which coincides with the 23.6% long term fib line (7/10/07 to 11/21/08).

    Those lines are at $26.82, and if HOC stays above that point, I’d call it significant for HOC and the sector.

    FWIW — HOC is up over 60% since I first started ranting about it here. The other refiners are in similar circumstances.

    I’m selling a little bit of TSO here, juse because I’m overweight in it, but holding HOC, VLO and WNR as well.

    _________

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  62. TheArtist

    CNBC just had on the screen, “buy the rumor”

    no shit….. 11:02am ….. they even have the gall to advertise to buy stocks based on their rumor fuckery…..

    criminal market manipulation…….

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  63. Low IQ Investor

    Could Bob Pisani be more gay with his attempt to scare the shorts?

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  64. sniper6

    hate to do it, but shorting PCX here…$5.96

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  65. j

    You see, Donny, lives in what was the former SubPrime capital of the world … Orange County, CA.

    Osmond, now I know you’re gay.

    I’m not preaching, you illiterate moron. But coming on here in the third person and then telling everyone how much money you have made (always past tense) is thread wrecking.

    So stop being a fucking troll, get up to speed on economic stuff or go suck dick, you boastful flea bag.

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  66. JakeGint

    Kudlow is drawing a bath, ready to open his veins.

    A Marat?

    We’re getting a lot of French Revolutionary imagery here, these last few days.

    I hope that’s not foreshadowing.

    __________

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  67. Frog

    TEX and UYM also looking really strong last few days

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  68. j

    I think the market is heading higher and it’s going up because of the banks turning around a bit.

    Barclays and Deutsche banks reported a profits. Ordinarily that no big deal in he sceme of things. However Deutsche said that January was a good month. BAC’s Lewis said the same thing. This of course doesn’t make a quarter. Interestingly Diamond at Barclays (Not JPM’s) said they made an extraordinary gain as a result of Lehman bond positions. so credit in certain sectors are obviously doing well.

    Last week sever indicators like German PMI, US PMI and some Chinese PMI all came out better than the market was anticipating.

    IF the package is well received tomorrow and appears even remotely shareholder friendly banks do ok and the Dog gets whacked.

    I bought a copula banks despite selling out too early in BAC last Friday.

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  69. jjjsix6

    Why do I always follow FLY on his bad trades?
    How the hell can DUG be down when XOM is down?

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  70. FLY, WAKE UP!!!!!!!!!!!

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  71. Left Wing Loon

    Regarding the healtcare debate, someone once said, “if you think healthcare in America is expensive now, wait until it’s free.”

    Higher taxes and a degradation in service for one and all of my trusted comrades!!!!

    God Bless the United Socialist States of American!!!

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  72. Snoop Dogg Dwyer

    Minyanville Staff

    10:52:06 AM

    No positions in stocks mentioned.

    Vibes from Minyan Tony “Snoop” Dwyer of FTN Midwest
    My positive tactical call initiated 1/27/09 remains in place with a stop on a close below SPX 800. My firm would become more defensively positioned on a move above SPX 1000 or a close below 800.

    “Helicopter Ben” has become “Space Shuttle Ben.”

    While many of the most stressed economic and credit related data is bouncing off the most stressed levels, any chance of a sustainable economic recovery appear limited.

    The good news is my firm’s positive tactical call for upside in the SPX toward 1050 remains in place so we currently do NOT have to focus on the possibility that the rally is likely to be temporary. Indeed, every new bull market begins with a tactical rally that ends up (in hindsight) being fundamentally driven. If the market does reach toward our near-term target and the fundamental backdrop somehow miraculously points to significant and sustainable economic improvement, I’d likely suggest even higher prices.

    The more realistic approach given the stress in credit – even on further improvement – is to adopt a much more defensive posture as the SPX moves above 1000 toward the target of 1050-1100

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  73. MOOBER

    Eh, Juice. Sorry to be the bearer of bad news:

    http://failblog.org/2009/02/09/jihad-fail/

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  74. TraderCaddy

    No sense feeding the Broker commissions.
    I still see nothing except maybe homie shorts via XHB (HD is a big component).
    Cautious here as VIX is still up.

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  75. Ahmhed Al-Beard Ahlah Camel

    Where is the one you call “Juice?”

    Bring him to us!

    ________

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  76. sniper6

    and, covered PCX short @ $5.75, another half hour trade, 3.6% gain

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  77. Donny

    BAC has almost doubled since last Thursday’s lows. I bought it at 3.94. 8)

    The banks relative strength is telling a story here.

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  78. j

    oh what story is that, Osmond? Try and tell us before the day care center gal calls out that it morning tea time.

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  79. Donny

    I’m done acknowledging you old coot.

    Good Luck with your trades.

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  80. Thunderpup

    Juice is on the right
    http://www.engrish.com//wp-content/uploads/2008/08/premenstral-tension.jpg

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  81. JakeGint

    Really, the J-Donny feud is getting a bit haggard, isn’t it?

    Not that I’m averse to a feud every now and again, but at least make it about something more interesting than schoolyard names, huh fellahs?

    Now, hug it out.

    __________

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  82. Granpa

    Donny, you’re cool with me even if you like using the 3rd person thing, that has made me laugh as much as it drives J nuts. Fly’s shit is funny and smart, I was talking about the fucknuts that worry more about who’s blowing who in what bathroom instead of talking whatever shit they want about stocks.
    J, Granpa is good with the Donny and you too my brother!

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  83. TED HAGGARD

    leave me alone!

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  84. Thunderpup

    Someone lose a schedule book?

    http://www.engrish.com/1999/02/schedule-book/

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  85. Vijay

    granpa is undoubtedly a very latent homo.

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  86. blow up

    Take a look at the equity put/call ratio. The only people trading this market are the people that work at Burger King. Look out for a big move up or down. Boaring.

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  87. Granpa

    That’s funny VD, would you rather my son or grandson kick you pussy ass down the street?

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  88. TheArtist

    Does Obama realise he has already been elected and IS the president?

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  89. Hickory Dickery Dock
    CAP was sucking his Cock
    The clock struck 2
    CAP dumped his goo
    Then he dumped his FAZ shares for a loss

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  90. Thunderpup

    Happy every day
    Flying in the sky
    I am Fly

    http://www.engrish.com//wp-content/uploads/2009/01/happy-every-day.jpg

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  91. CAP

    FUCK U ANon Gayass motherfucker aka DONNY. I don’t own any FAZ bitch. It a trading position. Still short the banks. Shorting more BAC JPM and WFC. Fuck You U’re DEAD !

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  92. Who out there, is stuck with FAZ? I’m averaged in at 55…..just wanted to get some thoughts.

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  93. ThePrez

    Fly, I don’t see any reason to be fair and balanced. The Grande Olde Party has held the White House for 20 of the last 28 years. The only guy who managed a surplus was Clinton. Enough said.

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  94. Speech Watcher

    Obama Speech = Red Badge of Gayness

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  95. Donny

    CAP-

    I can assure you if I have something to say to you, I won’t do with an “Anonymous” tag.

    BTW, did you really sell your FAZ shares. I know it never got anywhere near your average price of $63.89. That sucks.

    Good Luck!

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  96. downsouthjukin'

    Jake,

    Do you remember our recent discussion about mob justice, strikes, and the French? you said something like ‘Fuck them and the way they do bidness’…

    Well I couldn’t agree more. Check this out. You might have to postpone your plans to open the Paris branch of your country line dancing empire. lol.

    They can’t help themselves…they’ve just GOT to regulate something.

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  97. gappingandyapping

    So are we looking at endless upside from here or do you guys think we are just in a short covering ahead of the bill?

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  98. Anton Cigur

    Not to lower the level of discourse, but this was pretty good: http://online.wsj.com/article/SB123414310280561945.html?mod=djemITP

    I haven’t read WSJ today, but picked this up from Roger Ehrenberg on Twitter, who is worth following. No promises of auto-fellatio in his writing or anything, but still worth following.

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  99. Jacques

    Oui, we love ze Obama cowboy. You silly American’s George Bush is all of ze hat and none of ze cattle as we say in France.

    Now excuse me, I have ze boot scoot boogie to teach as part of my important Line Dance Minister of Lyon job.

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  100. Razncane

    In DUG @ 21.40 (today) and 24.50 (7days)- want out @ 26.50
    In AMR @ 5.70 -want out @ 8.70
    In UYG in various, copius amounts -want out soon, would like to see 6.00 by March

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  101. The Fly

    new post

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  102. Keyser Soze

    Ze French Jake is even funnier than Mr. Limm. Well done.

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  103. Keyser Soze

    BTW, I know funnier isn’t a word, so all the grammar nazis please enjoy a preemptive “FUCK OFF”.

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  104. JakeGint

    Keyser — thanks for the props, but that wasn’t me. Was funny, though.

    Oh, and “funnier” is a word, btw. You’re good.

    ________________

    From that hilarious article. The French are easy top pick on, but you read stuff like this and you think, “thank God we’ve inherited an Anglo Saxon form of governing structure, because this Euro-Meditarranean form is Roman tyranny all over again” —

    Amateur instructors will have to take 200 hours of training under the new rules. Professionals will get 600 hours, including such subjects as line dancing techniques, “the mechanics of the human body” and the English (or at least Texan) language. They will also learn how to teach line dancing to the elderly.

    The cost of the courses, about €2,000 (£1,570) for the professionals and €500 for the amateurs, will be largely met by taxpayers. Mr Chauveau said the regulations highlighted the French state’s obsessive desire to organise all public activity. “France is the only country in Europe apart from Greece where sport is controlled through the state,” he said. “Line dancing is now considered a sport, so it is being controlled, too.”

    Just unbelievable!

    _________

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