Obama’s budget represents outright socialism or worse. It is the most radical piece of shit to hit our shores, just shy of German U-Boats. Frankly, I almost can’t believe it. I mean, he is talking about taxing corporate earnings held overseas (fucking GE in the process), higher taxes and massive government central planning.
This bill will fuck you, Comrade, in ways you cannot imagine.
As an aside, I have an announcement to make.
ALL PRIVATE CAPITAL, THERE IS NO NEED FOR YOU TO PUT YOUR MONEY AT RISK ANY LONGER. THE GOVERNMENT IS IN CONTROL.
That’s right, fuckfaces. What this Citi deal represents is fuckery on a very high level. All of this talk, by asshole cocksuckers in Congress and at the Fed, regarding “drawing in private capital,” is a bunch of horse shit. Who in their right mind would want to invest in a bank, after seeing the government change the rules whenever the want and wipe out shareholders?
Answer me!
On top of that, in case you missed it, Goldman Ball Sachs lowered their estimates for the S&P to 650 for ’09 yesterday. In my opinion, they are being very generous. After all, how does one price in communism?
Here in America, we are all about taxing and spending. Let’s take the money away from those who have earned it and give it the homeless guy in Manhattan, so that he can buy a fork and knife, in order to scoop out the fucking gray matter from your skull.
Top Pick: Long DUG/ERY in size.
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All I know is if the people on CNBC are hating this budget, and fly boy is calling it socialism, it must be good. Real good, if the Nobel Economic Laureate is loving it as well.
BIG reversal rally today. Sold 9700 shares of DZZ in pre-market at 90.88 and will buy back lower this morning.
Can someone give me a serious reason why i shouldnt stop paying my mortgage right now. I spend 4 hours last night reading about the Megic Negro’s economic plans and I swear it should be writtan in cyrillic. What’s the incentive to work anymore in this country, he thinks everyhing should be nonprofit. Good, no, great for job creation. Jesus i need more ammo.
GE shitting the shower again! Down 6% premarket
Doug Kass, aka, Mr. “All In”,
Please Read This.
Fucker is too clever for his own good.
Who ate Devildog’s brains?
Kass is an idiot.
I think the changes that Obama is bringing are long overdue. I only hope it happens without the typical loopholes that the super rich use still in effect. For example, the 50K scumballs that parked their money in secret UBS accounts to avoid taxes. I hope every single one of them has to pay back taxes with interest and a matching sum in penalties. 30 years of the 1%er parasites living off the rest of Americans is over. FUCK wall street and nyc.
RALLY to S&P 875.
S&P will print a low 5 handle this month.
Barack communizing society was a given for anyone that actually follows politics and read up just a little on his background, his associations, and his voting record.
If you voted for him and you are a productive member of society, you’ve been shown the fool. Democrats are about raw power centralized under the State. The economy is an after thought to them. They’d rather rule a teetering Eastern Bloc shithole than be powerless in a thriving economy where the citizens, not the central government, call the shots.
Meanwhile, even as his candidate destroys the country, there’s even worse news for the Fly.
___________
___________
Why are you fuckers complaining. you voted for the fucking idiot.
Treat it as an upside down bull market and don’t stop until it gets down to 4 handle. I’m serious, this fucker is seriously bad news. He knows nothing about economics and doesn’t give a shit about what he does to the markets.
He’s not into prosperity, he’s into redistribution in a big fucking way, and you left yourselves open to abuse by giving him both houses of congress.
He’s a hard leftist and leftists don’t think about markets in the same way we do. They think they can direct the economy and ignore economic laws.
Devil Dog, showing his massive brain once again.
Thanks again for confirming my gold buy yesterday, doofus.
You should put out a newsletter and call it “180 Degree Decisions.”
_____________
Just remember- ATAO (Always Trade Against Obama)(and America now).
Bye to the Space Industry and good luck to you soon to be unemployed professionals and techs (Yes, he lied to you about an additional shuttle launch).
Bye to Wall Street (Triple taxes on private equity and hedgies).
Bye to you Doctors and medical providers (Medicare reimbursement slashed to well below your costs).
Bye to Israel (I know you 75% of Jews really wanted to believe but check out appointment of Charles Freeman, Susan Rice and Oabama’s participation now in Durban II).
Bye to you small business owners (who file Sub S and employ 85% of Americans-your taxes from payroll to income are going way up).
Bye to any manufacturing and industrial companies left in USA (the failed in Europe cap and trade is coming here for a phantom man made global warming BS).
Bye to USA consumer (who will pay for increased cost of goods due to phantom cap and trade).
Bye to you producers in high tax states. You know why.
Hello to Marxism.
Hello to the new economic theory of “Trickle Up Poverty.”
I saw that. Titans dropped the ball.
J– go fuck a bag of rabid koalahs.
__________
Thanks Master Fly.
Fly —
Take this solace. Danny “Steinbrenner” Snyder is better than even Sleestak Jerry Jones at overpaying free agents who never pan out. Haynesworth was solid, but 8.5 sacks in one year and 28 over a seven year career does not earn $100mm, imho.
That’s just crazy.
_________
Dog, you freaking moron. It wasn’t Obama that set up the UBS hit. Fuck off.
MLM is another screaming short here…see chart
http://alphalobotrading.blogspot.com/2009/02/mlm-down-channel-canal-bajista.html
Sorry, Jake…. Those that voted for him.
BIG reversal rally today. Sold 9700 shares of DZZ in pre-market at 90.88 and will buy back lower this morning.
ROFL, I told you to sell yesterday a buck higher, goof. Smart people (the Fly) listened.
Give us a call when Comrade Attorney General’s Gun Nazis show up at the bunker looking to collect.
They’ll probably be a luxury tax on Vipers and fake tits at that point too. Better get your checkbook, and save some fiat for the bill.
___________
# JakeGint Says:
Devil Dog, showing his massive brain once again.
Thanks again for confirming my gold buy yesterday, doofus.
You should put out a newsletter and call it “180 Degree Decisions.”
_____________
February 27th, 2009 at 9:02 am
Jake, I haven’t changed my mind about gold. Just a one day zag and I took profits. Gold will decline to $250 – $400 over the next few years. It will be at $600 in June.
Interesting link about underperformance of gold stocks.
http://247wallst.com/2009/02/27/gold-stock-pressure-with-or-without-gold-prices-ego-rgld-iag-gss-gld-gdx-abx/#more-25410
# j Says:
Dog, you freaking moron. It wasn’t Obama that set up the UBS hit. Fuck off.
February 27th, 2009 at 9:06 am
What happened to your killfile?
FUCK OFF dumb ass.
Fly I hope you are happy you voted for communism, you voted for socialism, you voted for hope, you voted for the democratic way.
WHY ARE YOU COMPLAINING you should be cheering
You need to say you are SORRY to your trading buddies here for doing a really dumb shit thing and voting against us and your own survival.
Jake, worry about yourself. I’ll be in HIGH cotton. BTW, I just ordered a new ’09 VIPER ACR for some track fun. It holds the lap record at the N’RING.
I told you it doesn’t work you dumb shit, Dog. I said that some weeks ago.
As I said fuck-knuckle it wasn’t the commie in the white House that set this up.
Fly:
that comment (Fly U SCREWED UP Says: ) wasn’t me by the way.
Fly voted for Obama so he had something to blog/rant about.
He says the republicans brought it down, but who was in charge of congress last 4 years with their 9% approval? dems, as in demolition.
All the cops that are getting jobs love obama, so they’ll have no problem carrying out his police state once shit hits the fan.
Shorts win! Bwaha!
This might be a good time to put on the headphones and sit back and play The Doors “The End” the beautiful end my friend.
Before “they” come and confiscate your stereo.
I think I figured it out: taxing the middle class is capitalism, taxing the upper class is communism.
wait you mean the pyramid schemes don’t work? not even the greatest one of them all? Pay ridiculous sums of wealth for this wonderful peice of paper or virtual paper representing a business and you will be wealthy beyond your wildest dreams…
they’re selling a pipe dream, as is obama.
WTF…did I click on RushLimbaugh.com?
being the idiot that i am, i will be adding 500k shrs of GE through out the day.
this market will reverse today.
Artist sez:
Before “they” come and confiscate your stereo.
Don’t worry, they’re coming for the Vipers and the fake tits first.
_________
Seeing Trump’s Daughter on CNBC during the crash is confusing.
Can anyone that Hot be taken seriously?
Ponzi
You idiot, it’s not about the rich or poor. the poor will get a hot rod rammed up their butt because there won’t be any jobs. The rich will be too poor to afford to pay.
Firms won’t be able to hie because they will be taxed to death.
not bad, they took too much off her nose though
fwiw … my idiot friend , whom I use as a fail proof contrarian indicator, is yelling FIRE!
I may have to join Kass, shortly, in the rally camp. I will be adding select longs to my book from here on in.
god save the queen!
How people could possibly be complaining and blaming this shitpile on Obama when Bush and the Republican party orchestrated the entire thing is beyond me.
?
WTF…did I click on RushLimbaugh.com?
No, you voted for a commie.
Announcement for all dimwit traders who didn’t take any econ or accounting in college and/or voted for Obama — : There are actually quite a few people who run a P & L outside of an electronic screen on this site.
Apologies in advance for us talking “reality based” economics.
It’ll shock you to know that they actually have some effect on those green and red numbers you stare at all day…
________
Seeing Trump’s Daughter on CNBC during the crash is confusing.
KC — kid who works for me was at Wharton (undergrad) with her.
That ta’s are apparently “factory air” — a graduation present from dear old Cheezy Dad.
__________
fwiw … my idiot friend , whom I use as a fail proof contrarian indicator, is yelling FIRE!
AAII numbers are very bullish (ie, they show much bearishness) as well.
I think Chivas published them last night… 55% bears is A LOT.
That’s why I’ll stick w/ gold.
_________
My kid went to school with her. She wasn’t that hugely bright or so the school rumor mill went.
Fly:
You still short Euro or did you release that into the wild too?
How people could possibly be complaining and blaming this shitpile on Obama when Bush and the Republican party orchestrated the entire thing is beyond me.
This is the reason the Democrats don’t want civics taught in the classroom, never mind economics.
Soupy, the CONGRESS controls the purse strings. The CONGRESS decides the regulations on banking. THE CONGRESS decides whether Fannie Mae or Freddie Mac will require further reigning in or more “rope” with which to hang themselves.
Study who has been in charge of those decisions (hint: rhymes with “Spank”) and who thwarted the Bush Administration in reigning in the GSE’s. Get back to me with your report.
___________
I think I figured it out: taxing the middle class is capitalism, taxing the upper class is communism.
Depends on what you consider the “middle class” — socialists like to play with those definitions as well. Know this, 50% of America doesn’t pay ANY income taxes, and in fact, a good portion of that 50% gets what amounts to a welfare check now, instead. In the meantime, the top 10% pay some 60% of all income taxes, and BA wants to increase that ratio.
Serious question: Do you think that’s a good model to set up in a responsible society?
Second serious and practical question: Do you think the government is smarter than the top 5% in collecting that money?
Third serious question: Do you think overall government revenues will rise or fall with this legislation?
_______________
Seriously, though ….
The market doesn’t belong here. It belongs higher. Every time Barry opens his fucking mouth he sends it lower. Every time some new policy comes from these fuckers it goes lower.
the market is simply discounting political risk now to a large extent as the US moves from the freer econ0my to a social demolition model.
Is Obama going to sign an executive order to change the flag to red and black stipes and a green background with red stars (or get rid of the 50 stars and replace it with one big red one)?
Done for the AM.
Thanks SMH.
Watching homies, too.
Know this, 50% of America doesn’t pay ANY income taxes
This is the reason republicans don’t want science or math taught in school. It’s easier to just make shit up and pull numbers out of your ass.
http://blogs.ajc.com/jay-bookman-blog/2009/02/24/the-50-percent-pay-no-tax-fraud-part-ii/
Fuck those single mothers (probably a couple that you left behind). They shouldn’t get shit, they should live off your scraps.
What do you expect, when his Budget Director is the same cock sucker that bankrupted Iceland via bad advice!
Patiently waiting for the O-man to announce the elimination of the uptick rule and the suspension of mark-to-market as we know it…then watch all hell break loose.
JAFO
Jake Gint wrote:
THE CONGRESS decides whether Fannie Mae or Freddie Mac will require further reigning in or more “rope” with which to hang themselves.
Study who has been in charge of those decisions (hint: rhymes with “Spank”) and who thwarted the Bush Administration in reigning in the GSE’s. Get back to me with your report.
********************************************
Jake, you right wing Piece Of Shit, HERE is your report:
REPUBLICANS AND BUSH AND GREENSPAN in 2004
thwarted cutbacks in sub-prime loiand and regulation of FNM and Freddie, DESPITE the Dem’s desire to do so. THE FUCKIN’ REPUBLICANS CAUSED THIS SHIT and don’t you EVER forget it.
Obama will tax the SHIT out of the rich so we don’t have to ki1l them. They fear THAT worse than fuckin’ DYING they are so greedy!
LONG LIVE OBAMA!
Ivanka Trump – no matter what, she is hot and rich…did i mention she is rich?
Which way though, Jafo.
–Jafo…hope u are correct…not sure the retarded socalist little camel fucker black leader is that smart….
http://www.theonion.com/content/video/are_violent_video_games?utm_source=a-section
outrageous. the bottom is in.
Done again for AM.
Thanks XHB (homie etf).
Going into the pool to dream of capitalism.
Back for the PM crash.
Dealing with Citi this way is far preferable with everyone outside the US than it was to just torpedo an old business rival and cause pandemonium when all of their CDS/CDO’s went up in the air.
Basically something radical other than letting the banks fail has to be done. Letting Lehman Brothers fail was one a move of Hooverian proportions.
I liked what Meredith Whitney said about working with the smaller banks.
Perhaps it’s time to nationalise the big guys and take whatever proceeds come from that to feed the little guys until the systemic risk is removed from the global economy.
SWHC back on fire again.
Who in their right mind would want to invest in a bank, after seeing the government change the rules whenever the want and wipe out shareholders?
Answer me!
–
I’m all in
Chris Moneymaker Says:
Who in their right mind would want to invest in a bank, after seeing the government change the rules whenever the want and wipe out shareholders?
Answer me!
–
I’m all in
______________________
Stupid people Chris, like Jim Cramer, Dick Bove, and all the other asshats that manage “other” peoples money that don’t give a shit if it is lost, these people are always interviewed on the floor of the NYSE by the fuckery team at CNBC………
Obama= Modern day Jimmie Carter
Stupid people Chris, like Jim Cramer, Dick Bove, and all the other asshats that manage “other” peoples money that don’t give a shit if it is lost, these people are always interviewed on the floor of the NYSE by the fuckery team at CNBC………
=================================
So you’re not calling my bluff?
Why are some of you guy acting shocked about Citigoup though? That shit has been out all week. Unless you were in your air raid/survival shelter this week like Devildog we knew it was going to happen and the method used.
Soup Douche —
Reading comp not your strong point? You quoted me directly — “income taxes.” I didn’t say anything about gas, sales, socialist security or any other taxes you might whine about which the production class is ALSO already paying. I said INCOME TAXES, dufus, because that’s where a large part of the federal revenue comes from, and if the Fed’l gummint wants to KEEP SPENDING they have to lean on that lever.
Capisci?
As well, your effective tax table means schitola, because the “Effective tax rate” has nothing to do with actual cash outlays, which you’d know if you ever paid taxes. When you get out of Dad’s house, come talk to me.
_______________
J,
I would “hope” the market would pop on the news of a reinstatement of the uptick rule and suspension or modification of mark-to-market. But as we all know…sound investment decisions are never based on hope alone. Sorry…I cant make the directional call…I just know I want to wait till it happens before I make any significant bets one way or the other. Good luck.
JAFO
DD really turned bullish?? Anyway, he will be the only bull that lose money in a bull market like he was the bear that lost money 2 years in a row.
just used PPT to find a buy ( I hope)
Bought APSG 19.50
Boom —
I’m with you on that one. That “panel” thing the Onion does is one of the greatest parodies of current media I’ve ever seen. They make SNL look amateurish.
“And kids learn how to use medicine packets to heal zombie bites…” rofl.
_________
Bought 8449 shares of UPW @ $23.97.
Interesting chart of the day
Adding TNA here ($16.04), for my friend Chivas Costanza.
____________
One bit of good news, the fertilizer companies might have a better next quarter. Feburary is usually when farmers turn under, and fertilize the fields for some crops. I know the farmers usually buy all their fertilizer in the fall for the next year but since commodity prices were through the roof last fall alot of farmers waited to see if prices would come down, and they have, so alot of farmers are buying fertilizer now. POT and MON and MOS and AGU should do well going into spring.
Still no 6 handle. SHIT, today is the day. WHY is the market not cratering?
“Bottom” fuckers … the bulls have become the contrarians. Doomsayers will soon be deBalled.
Bought Dollar yen right here at 98.00. Who knows, how cares it’s Friday and anything can happen
It is called “State Capitalism” not Communism. It is what I was doing before that Asshat Hitler messed me up.
Douchebag RW Nut Jake Gint wrote:
Soup Douche –
“Reading comp not your strong point? You quoted me directly — “income taxes.” I didn’t say anything about gas, sales, socialist security or any other taxes you might whine about which the production class is ALSO already paying. I said INCOME TAXES, dufus ”
********************************************
Jake, your fuckin argument is WORSE than lame. I could post some horseshit about what percent Social Security taxes billionaire coupon clippers pay (MOST of them pay fuckin ZERO!)
and tell everybody that SS is the ONLY government activity running an annual surplus!
And then say (rightfully_ that the fuckin’ rich were useless fuckin leeches. But I wont say that. Even though it is true.
Bunch of whiny bitches in here.
How else did you think we would pay for the unfathomable deficit the GOP ran for almost a decade? And for the epic financial crisis that was brewing under their supervision?
Now that the Govy is long C, mark to market will be reworked to help the shit assets…uptick rule will be back too..its within Blowbama’s mindset…
soupkitchen:
The reason why 40% of Americans don’t pay any income tax is because it’s a voluntary un-ratified tax set up by the central bank to pay interest on debt from government borrowing.
What needs to happen is to actually ratify an income tax and remove the voluntary status so that we “all” pay our fair share. As it stands, those who choose not to pay it need only select EXEMPT on their W4 forms and no witholding occurs.
There is a reason Congress won’t ratify an income tax and remove it’s voluntary tax status.
JakeGint
interesting perspective when you consider that chart. I like it.
I also like TNA
Too bullish? Get medicated…
I’ve been on this shit since November 2007, and let me tell you, it’s GREAT!
_______
It is called “State Capitalism” not Communism. It is what I was doing before that Asshat Hitler messed me up.
True dat. More akin to National Socialism, which wasn’t all that far from International Socialism, if you consult Messr’s Molotov and Ribbentrop…
Have you read that Goldberg book, btw?
_____________
We don’t need no stinking business. We have Barack! We have Nancy, Barney, and Chris!!
Just look at the fabulous job the government has done with enterprises they’ve controlled. Amtrak, Conrail, the post office, Fannie and Freddie. They’ve only been effectively bankrupt a couple of times.
Join hands with me Dinosaur Trader, and Employee8 in singing Kumbaya as we put our fate in Big Government and borrow from the Chinese to fuck over our kids and grandkids. If there is even one poor person in this country, then EVERYONE deserves to be poor. We’re all about fairness.
Trickle up poverty fucking rules!!!
Left Wing Loon,
Is that you rabid Jake?
The discussion here is fragrantly enlightening. Build straw arguments and effortlessly debunk them. Brilliant.
darnit, you can come to our kumbaya party, too. We’ll constantly remind ourselves that some people are poor because other people are rich. We’ll also remind ourselves that nobody should take individual responsibilty for their predicament. Instead, we’ll just blame everything on rich people and George Bush’s “failed policies”. If we have time, we’ll also talk about how evil Cheney is, just because we can never hear that often enough.
It will be great fun.
Hope to see you there!!!
Point proven, LWL.
{Insert a few exclamation marks}
omfgitsjd Says:
soupkitchen:
The reason why 40% of Americans don’t pay any income tax is because it’s a voluntary un-ratified tax set up by the central bank to pay interest on debt from government borrowing.
Or, 40% earn less than $16k/yr. Imagine that, trying to live in this economy on $16k! Solution that conservatives don’t like to hear is better education, better jobs and decent pay. But that would cost the top 10% (Jakes #’s) more taxes and less take home pay for themselves. Oh, well. Businesses will enjoy the competition for consumer $ for years to come now and wonder why their own ees can’t afford to buy their wares. Way to go conservatives, nice business plan. Price your own consumers out of your own market. Bone up on your Chinese, Indian, Website & mailorder marketing and foreign rental agreements. Been nice doing business with you but off to check the money in my mattress. Good Luck, hope O’s big gamble works out or you’re all screwed now.
Dazed and Confused Says:
I think I figured it out: taxing the middle class is capitalism, taxing the upper class is communism.
—-
the upper class isn’t taxed, it’s the upper employment class… there’s a difference.
The major companies and ultra rich aren’t taxed anyways. They just have the shareholders pay for the taxes, or they defer taxes, or they write all their taxes off by spending pretaxible income to grow their business. As the shareholder, you give them money so you take on the risk, and the seller of the share gets to decide if they want to dilute the shares to raise more money to “double down” on their first failed risk to make everything back.
As individuals, they can pay themselves $1 and give themselves stock options, while they use the company credit to buy “business based” stuff which they also use for personal use.
For every $1000 in taxes that any individual pays, the people only get $200 in bennefits… Increasing taxes on the rich won’t help you anyways, it’s just a fancy smoke and mirrors way to convince you that the system is just and you can always vote in someone else, while meanwhile they screw you over more and more each year.
OXbbOh