Ben Bernanke and company saved the economy from assured collapse in 2008. Many of you— libertarian brain-dead type— hate the Fed and their money printing ways, for a variety of “independent” reasons. However, when thinking about what the Fed did, ask yourself this question:
If you were diagnosed with terminal cancer and was given 3 months to live, unless you took an experimental drug that could prolong your life indefinitely, what would you choose, death or hope?
It really is that simple. Argue all you want about the banks mugging people in broad daylight or how Goldman Sachs Group, Inc. [[GS]] fucked Earth something awful. You know damn well, during the height of the credit crisis, when shipping rates plunged 99%, fuckers were going to start starving then rioting. Call me crazy, but I prefer an orderly death, to the tune of 80%+ personal (long only) stock market gains.
[youtube:http://www.youtube.com/watch?v=-W5rHRqFqQ8 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
FIG
Bernanke is the arsonist and the fireman.
Greenspan was the arsonist
Bernanke is Greenspan Jr.
NO. Sherman was an arsonist.
Get real, it is only hyperbole.
Bernanke is THE exemple of washington doing something right
You shouldn’t have a problem with the government confiscating every bank account in the country then.
It would be a great start toward paying the national debt/unfunded liabilities and everyone would be sharing in the burden equally since no one would have any money.
Of course that’s already happening as money printing/interest accumulating on the debt reduces the value of the dollar, albeit on a slower timeline.
What are you talking about? Fucking gibberish.
How about this. You took the lifesaving medication and find out any future children you have will be severely retarded due the treatment. Plus , the treatment prolongs your life but the pain gets worse every day.
Veddy nice, metaphor wise.
The problem was not so much the stabilisation (sic), but the morphine injection.
Sure, save the banking system, but make sure the equity and bondholders take it hard in the shorts at the same time, so the excesses are wrung out of the market.
Another metaphor — if your dog shits on your new oriental carpet, you don’t give him a fucking biscuit and pat him on the head, you put his nose in it, give him a “correction” and toss his ass out the door for an hour or so.
_________
Indeed Jake ^!
You may enjoy this: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2009/11/13_Jim_Sinclair.html
To continue the cancer metaphor, it was Ben and his friends who gave you the said terminal cancer in the first place by building a fucking toxic nuclear power plant next to your home, and forcing you and your neighbors to breathe the carcinogens in.
Dave, your impertinence has been noted. I am going to open the outer hatch now, Dave.
HAL2001:
Just what do you think… you are you doing…Dave? “Daisy, Daisy, give me your answer, dooooo,,, I’m a’crazy,,,, all… for… the.. loooooove…. of…..”
I would love to get defensive here but I can’t. I am loaded to the gills with pieces of paper and so far being handsomely rewarded for it.
Didn’t have to do bail outs with no strings, with no clawbacks for fees collected on fraudulent derivative sales.
Would prefer that they’d done a Sweden.
Finding …
myself…
reluctantly….
agreeing….
with….
P —
Puh—
Puh-puh–
PURDY! (gasp, gasp, gasp, gasp)….
____________
Your agreement is noted, categorized, and listed, Jake. Filed away to torment you at a later date…
right on – fly presumes if the Fed hadn’t done something we would have imploded – it’s WHAT they did and HOW they did it that sucks – (first do no harm ie med metaphor) they overshot, didn’t come clean and BB should be outed. BTW mr fly , ever hear of the Beaux Arts Trio? Yo Yo Ma? Charlie Mingus?
I have been amazed how short term memory loss has taken over seemingly this entire country. Less than 11 months ago the economy was shrinking at a 6% rate. Fuck you people that think the Fed and this administration has done nothing…11 months was not that long ago….remember thats when most of you thought Western civilization was coming to an end…maybe it still will but it sure looks better now than then.
exactly.
Dumb ass, this administration hasn’t really done anything, unless you count wasting resources. What’s really happened here is that the entire burden of debt has been subtly shifted onto the masses who, God bless them, are too stupid to realize it.
And that’s why, for the time being, the Fed is awesome. Their actions have allowed many of us to walk right in and take whatever we want. However, unlike you, I would never justify it as a success story. We still need a lot of substantial reform if we wish to get through this without the poor bastards at the bottom of the barrel (actually, the bottom of the middle class is probably more accurate) suffering horribly.
It is likely the present middle class will join the poor and live in the misery of near poverty. It will not be pretty. Capital gain, followed by preservation of wealth, is the only way the middle class can save themselves. I see no other way out, short of death or poverty.
It is hugely important to trade well…
Perhaps. The way things appear now, we’ll just fuck over a third world country and leave them with the smouldering pile.
Bernanke for president!
Not a big Bernanke fan, but I’ll admit he’d be a tremendous improvement over the current naif.
Take off your ‘Rose Coloured’ sunglasses and prepare for some really blinding disillusionment, Wondering.
Couldn’t help myself …. added CIEN @ $10.94
I was going to buy too. But I ate a cookie instead.
An X-mas cookie?
A snicker-doodle.
_____
Hmmmm, Cinnamon Sugar Cookies with some German Chocolate K-cups …. Schnell, Schnell!!
I party with my pants off.
Here’s the problem…..The market (realestate) needed a correction BAD…U.S. Household Debt was way out of hand(Still is)…And we were in a Presidential year which the guy who won had bad mouthed the economy for 6 straight months….So what did Bernanke do, he flooded the market with $…created a bubble in gold….fucked the Chinese who hold our debt….BBQed savings accounts….didn’t let the correction happen,didn’t force people from using credit cards like slices of Pizza… but he made us all warm and fuzzy that the U.S. didn,t go out of business like Obama said it would during the campaign…So that let the Prez create Trillions in debt and kicked that back to the people who got him elected AND expanded the GOVERNMENT by 30%…man of the year? Yep
Bernanke saved your country (in doing so, saving also a large part of the industrialized world) from total collapse. treu story.
beleive you me, you couldn’t hope for a better man to face the worst of time.
Fly, you make a totally logical point, but those things aside, and while totally disagreeing, I plaintively ask,
who gives a fuck?
I don’t believe for a SECOND that we would have descended into anarchy and food wars. That’s what the prior asset holders who blew it were lording over congress/prez/anyone whod listen.
Better analogy — I see a pile of toxic waste, sludgy brown ooze, leaking from an oil barrel marked “chernobyl” and decide, ya know, that looks like a good face scrub. So I rub it all over my face, and huff the fumes, because shit, it feels great. Then I encourage and sell the toxic shit scrub to my friends and family, but most obviously, poor people. Every has clear skin, everyone’s high as shit off the fumes, and we’re all loving life. Then, slowly, our faces begin to slough off. I hold a press conference assuring you the product is safe and ok and contained. Definitely contained. Then, when everyone’s dead I humbly request the experimental drug you speak of because, yes, it’s better to watch a disney movie and hope than to die.
Being burdened with cancer isnt quite the same as systematically implementing cancer all over the place.
They failed. They earned it. It was a sad day last year when I witnessed the death of many things I love, not limited to:
— accounting. What a useless major since M2M is now mark to myth.
— semblance of sanity. Why aren’t tier 1 cap ratio req 15-20% min.?
— right to fail. I don’t get handouts. Neither would you Fly if you made a leveraged loan FTK fund. Neither would jake if his shop wrote huge CDS contracts on it and actually had to pay out.
Here’s what I think would have happened:
Everything crashes. It’s very painful and horrendous. It is very very bad. Slowly, all assets, both on the books and off, are sold for pennies on the dollar to new holders at a great cost basis. They use the new basis to effect a new price equilibrium, actually helping the consumer. I mean, if everyone’s bk, then think about how cheap manhatten office space must be. All assets become reset at a lower c/b benefiting the PRIVATE money that comes in to buy. The new asset holders create jobs and build infrastructure since they are clean and unburdened by debt, concentrated bets, et al. America, being the great, resourceful, proud, enduring, spirited country that it is, begins to put the pieces back together.
Fiat money doesn’t fail. Life, at this point out, one year later, would be pretty much the same.
/rant over
Dude, you should be a tabbed blogger.
See what happens when he actually speaks?
More Xanax to San Diego! They are not getting enough sunlight down there!
______
thanks jake. it’s that seasonal affect disorder, what with the lack of sunlight and all.
It would help if you would stop passing out under the sofa. (high SPF, true, but….)
___________
urgh, sorry that it has to be me pointing it out to you but… urgh.. how should i put it… Danny, IS a tabbed blogger…
http://ibankcoin.com/dannyblog/
CAUTION: Low Flying Planes Overhead
Wooooooooshhhhh….
i know… shhhhhh.
Damn, son, why isn’t this at least a blog post?!
7 thumbs up!
thanks DP
Nah. I still prefer up 80% long only. You know me, just crazy crazy crazy. But you may be onto something with the toxic scrub idea. Talk to your local Chinese chemical vendor for details.
“…sold for pennies on the dollar to new holders at a great cost basis”
Eggsfrigginxactly! A transfer from crooks and fools to the competent.
Instead, now, the competent and honest have been made the fools.
My big problem with your solution is self righteous asshole Dr Dooms like Roubini and even Tim Knight would have ran around shouting how wonderful they are even more so than they tried to do.
I for one loved watching them spend the last 9 months saying over and over how the markets going to crash as it kept climbing higher. Now they look like morons and it’s just great.
Maybe it’s not as important as your concerns but I enjoyed the results nonetheless.
And of course the profits…
On a more practical note Canada suffered a similar debt situation in the 90s and we dealt with it, not so much by paying back debt but just stopped adding anymore. The country eventually grew out from under it and we moved on. Granted the toxic shit wasn’t around then but it will work itself out over time(long time). The US would be fine if it would just shut the tap off today and accept slower than normal growth for the next decade until it grows out from under much of it. Putting all that extra TARP money(and unused bailout money) back onto the debt would help.
Please don’t go into moral hazard here because I don’t give a fuck
your problem with my solution of resetting prices to let fresh money come in at an attractive cost basis is that tim knight will gloat?! so fucking what? let whoever wants to gloat gloat. You can’t be serial.
Pretty much, I hate those fuckers and their ‘I told you so’ bullshit
I knew you’d try to get all practical on me although I was certain Jake would be the first to chime in with some condencending remark purposely misspelled for effect.
I do not need to comment, obviously, as it appears I am deep within your skull already.
________
Danny, what your proposing might take 20 years to turn around…..although I’m not saying this current situation won’t either.
Moreover, would you not be concerned that the re-priced assets would not be bought by America because, frankly, who will lend them any significant sums in the future, not at least without heavy backing. But would instead be bought by overseas interests with their excessive credit.
And knowing how happy USA is to re/de-value future debt, again, obtaining it would be harder…not necessarily a bad thing.
I guess there is never a simple 100% right answer.
Good stuff Danny
Could not agree more that the above scenario would have been the best case. Painful in the greatest extent…….but over rather quickly comparatively speaking, plus it would put the burden of the problem and the most pain back where it started, instead of the current and numerous future generations.
Alas….”it is to late my friend,….They’re daead”…..(Spoken by a ginormous black dude to Tarzan on an old TV show I remember)
Are you fucking nuts? No one would have bought the assets. It would have been MAD MAX, this time with nukes. Quit tricking yourself into thinking “had I showered in High School, girls would have went for me.”
What occurred is the only option available, short of starting over. I am not interesting in starting over, fuck you very much.
Sorry FLY…………I landed the hottest cheerleader in our school. Been with her for 34 years and she’s still a babe…..showers had nothing to do with it.
You realize you just outed yourself as 52 years old (give or take )?
Turn in your black palm crystal and prepare to be “retired.”
__
Logan’s Run reference – HAH ewe are old :p
Not that old, just a big sci-fi fan from about six on. When I was a little kid, that movie terrified me.
Want to say they made it into a tv show, too, but I was “not allowed to watch.”
________
Yeah, but that girl in it was beyond smokin’.
And then I discovered she was also in some random movie called Walkabout.
That, my friend, is what teenage dreams are all about.
I married really well and really young. <:)
Wow!!
Very impressive!
Even your shades with a translucent Bernake bust lasered over each lens won’t block out this one, Wondering.
Dan the Man.
could you please run for President? I will alert the White House – and offer to help them pack..
I am ready for the job
“If you were diagnosed with terminal cancer and was told you had 3 months to live, unless you took an experimental drug that could prolong your life indefinitely, what would you choose, death or hope?
It really is that simple. ”
If I had cancer I would try Gersen’s Therapy:
http://www.gerson.org/
watch the documentary The Beautiful Truth
http://www.thebeautifultruthmovie.com/
Call me crazy, but a total meltdown or reboot of the system would have been fun times….lol… Perhaps a real chance to learn from our mistakes.
Society and economics can hardly be compared to cancer that will kill you. Sure caveman style would be brutal, but we would have lived through it.
“… but we would have lived through it.”
sure… that’s what they all think… every single one of them…
in 1914 all of Europe cheered as they declared war upon each others. yeah, hurray for war. they all thought it would do good for europe. some sort of military romantism of wars. like it was going to make men out of the younger generation or something. misplaced and misunderstood darwinism, where the war would cleans the land of the weak or something. the last war on european soil had happened more then 40-50 years ago. they thought it was all going to be some napoleonic fantasy battlefield orgasm. General’s decorations from colonial wars didn’t prepare them to the biggest butchery ever to happen.
to wish for shit times from the comfort of where you stand today is … i don’t know.. no word for it.. i find it fucked. simply fucked up.
My gut tells me the “shit” times from this fiasco are still up ahead. We aren’t out of the woods by a long shot. Hmmmm….. “The Shit Times” might be a good title for a new financial magazine.
Finally, someone who is not towing the Glenn Beck retard pole.
Your right Heaterman,
Indie,
While said reboot will be harsh it would not be anything like what happened to Europe, unless of course we end up in WW3……I feel that if the reboot occured we would be back on track in a year or so….providing we create a new currency or have the world forgive us of our debts for a 100 years like Russia from WW1……
I do not wish for something God awful to occur, but we can only learn by skirting the line of fulll on debacle…
http://www.youtube.com/watch?v=N-LB94Kwlws
History shows that almost all the big economic debacles were due to excessive credit accumulation. The FED participated and enabled the credit expansion. Members of Congress contributed and financial institutions contributed to the run up in credit. The good news is that no one learns from history so we will do it again in maybe a few years – China is on the path to excess credit.
Auric’s point is a perfect addenda to Danny’s Blog Post that Should Have Been…
The fact is we DID not take the medicine, and the only thing “The Man of the Year” did was delay the inevitable for one more down round of chemotherapy….
And it’s gonna be worse, the second time around.
___________
You could probably argue that it’s going to be worse the “third” time around, since we seem to still be fleeing from the failure of Long-Term Capital Management.
And the Millenium Bug, and the Dot Bomb bubble, and the 911 liquidity allotment, and….etc. etc, etc, ….
_________
bingo.
it’s all about managing the downturn.
desperate times call for desperate measures. not so desperate call for not so desperate.. and so on..
not to be misunderstood… i do agree with jake here : “And it’s gonna be worse, the second time around.”
but only if there’s a second time around. it will be worse but we have been granted a second chance. we’ve avoid certain death. sure we might have only bought time but now is the time to make it right. it gave us a second chance to rebuild an economy on better fundamentals.
sure it sounds naive and filled with wishful thinking. but without hope, it’s all fucking dark. and shit… and well.. we all die, eventually.
life is a sexually transmitted terminal illness.
agreed except, China is not anywhere near our path of excess credit. China is spending money they have in the bank, not money they borrowed. The US is largest creditor nation of All time.
Actually, only by volume. Looking at the relative scope of our economy, Europe is in much worse shape.
I still think the fed is as cool as a December cucumber no matter how much you cancer lovers hate it.
The Fed wouldn’t give you the sweat off its balls if you were dying of thirst.
Here’s the thing guys. I will make this painfully clear for everyone:
I am one of those guys that WANTS the game to continue. I am content with status quo, since it has been good to me. I could care less about rebuilding society and making sure evil bankers fall off cliffs. I only care about, with laser focused precision, making money in the stock market.
That’s all.
Discuss as you please.
I want the game to continue too. But you can’t, for long, have more ticks than dog.
I completely agree. Thanks to TIME’s Man of the Year, you the citizen, are not in charge of determining monetary policy, so do what you CAN and buy/short stocks for your account based on what you see and read. I guess most of the people here get up on Christmas morning and start flicking the ornaments on the tree and complaining about the falling needles instead of realizing there’s a bunch of fucking presents for the taking courtesy of Santa Ben.
Santa Ben
Not an apt metaphor.
Better you should see us, collectively, as Vincent Price in The Pit and the Pendulum.
Sure, we just ducked that huge as swinging hammer of sharpened metal as it swung past our head, clipping our nose hairs right short, as it headed up to the ceiling…
Unfortunatley, gravity works, and It’s the backswing we are forgetting about…..
________
We dug the pit deeper, and will avoid your pendulum. Plus there is no gravity now, we’re all weightless spinning bananas into each other’s mouth.
My metaphor is perfect. Santa Ben and his elf Tim will see the next child. No crying.
You’ll put your eye out!
Ho! Ho! Hoooooooooooohhhhh!!
(kick down the elevator shaft)
_____________
Well fucking said…
if the status quo is directly responsible for my quality of life, then I love them too, and owe them a lot, because I have a great life. however, I don’t think that is necessarily the case.
“I only care about, with laser focused precision, making money in the stock market.” I AGREE. And I have no problem with bankers. Or their salaries. those are awesome. I have a problem with the gubbmints et al POLICIES and ACTIONS. And politics. But that’s a whole other argument.
Status quo ? same people in charge with the same policies, it should mean same quality of life. then I’m all for it.
With regard to policies and actions, I’m reminded of Einsteins definition of insanity. In what possible set of circumstances will this NOT happen again, unless something of substance* is actually affected?
*substance is not a 1,000 page bill that no one reads.
good, but “effected,” not “affected” in this usage.
______
d’oh! all credibility lost. dammit.
Nah, just save yourself with a well placed (sic).
__________
I DEMAND tabbed status for this man!
aaah.. ok… i see.. we are using the old jedi mind trick of irony…
Danny
I tend to not care about things that I have no control over. You being mad at the fed is equal to you asking me to stop cursing in my blog posts. There’s no point.
I feel your anger and desire for something better. However, sometimes it’s better to be inside the matrix: the food is way better.
In-fucking-deud!
It is best to let the things you can’t control not bring you down. I know.
Maybe i’m just still holding on to a shred of youthful naivety in that we can change a broken system, however daunting. Was the American revolution really realistic at the time? I would imagine it’s similar in the “size and scope of obstacles faced” dept as those we face today, and I would assume everyone here is happy we took that challenge on however it influenced the status quo at the time.
No, the Fly is wrong about the Matrix. The fact is, this CANNOT continue, as there must be a re-allotment at some point.
While I take his practical argument, there is certainly a better way to go about “a fix.”
Now there is only one way left out of the rat maze of cancerous debt, and that is through devaluation.
Oh my! It appears we’ve wandered back to my theme song!
___________
Oh! So you’re just hopin for an armed revolution. That would definitely improve the quality of life for the down trodden, for they will be in elysian.
i concur.
it’s “elysium” dumb ass
edit: i take it back. there are multiple spellings. though General Maximus uses “elysium”
No biggie. I wrote that on my stupid iphone with instant edit. I felt “eh, close enough,” after posting it. Thanks for caring PRIVATE.
ROFL
Who said anything about “armed revolution?”
I said “devaluation,” which is short for fiat dollar death, that’s all.
_
that was for Danny, not you.
the reference to the revolution was alluding to the scope of the undertaking, not the actual armaments and war and whatnot.
Woah! Lady Guinevere blast from the past…
First of all …
Fly your face should have been crusted on thecover of time magazine for helping us poor folk bankcoin this insane world. Really…
Fly in 06 when the interest rate was being cranked
up to ease inflation, I saw everyday people trying to
pay their high natural gas bill, while getting ripped at the gas pump,
while their interest rate on their mortage was being jacked up, and finally them complaining
about how high their groscery bill was.
I think ole Ben did a good job saving us from diaster
after raising the interest rate 1 to many times
squezing the consumer causing the start of a downward spiral.
“If you were diagnosed with terminal cancer and was told …”
Please, for the Sister Rosemary in all of us, fix this egregious grammatical error tout de suite!
Sister Rosemary didn’t give a schit about grammar. She was a milk and cookies nun. Her greatest concern was premature micturation during elementary addition.
Sister Christine, however….
_______
Would she have slapped you on the forehead for incorrectly spelling shit and micturition?
Schit was actually intentional, not the latter.
As for Sr. Christine, she would slap you sideways for looking at her the wrong way.
________
Kudos to Fly and the mighty PPT for running thru this market minefield full of money trees and coming out on the other side with baskets of cash unscathed. So if the Fly can do it, the average Amerocan can do it too right? Wrong. The average guy is an Amerocan Idiot who is 5 years behind the times. He thinks this is just a pause, like it 2006 or something. He won’t believe you if you tell him it isn’t. He won’t capitulate until that 350 lb. lineman’s elbow hits him in the face over the next few years. You, average guy, (not most here) ain’t the Fly ’cause you not the Fly. Don’t try little man.
“Ben Bernanke and company saved the economy from assured collapse in 2008. Many of you— libertarian brain-dead type— hate the Fed and their money printing ways, for a variety of “independent” reasons. However, when thinking about what the Fed did, ask yourself this question:
Bernanke is a royal asshat of the 4th tier, and will go down it history for that.
If you were diagnosed with terminal cancer and was told you had 3 months to live, unless you took an experimental drug that could prolong your life indefinitely, what would you choose, death or hope?”
[-5 pts. Mrs. Billingsly, “and you were told”]
Wrong analogy. Let’s say you were diagnosed with morbid obesity and were told that you could 1) Immediately go in the All Twinkie diet. You would enjoy it immensely, right to the point where your enlarged heart rips thru your chest like an alien lizard larvae or 1000hp dragster throwing a rod. or
2) Start a strict diet immediately, like a man, and save you and your family from pain ruin a few years hence.
Joey bag-o-twinkies asked Ben to drop Twinkies from his helicopter.
It really is that simple. Argue all you want about the banks mugging people in broad daylight or how Goldman Sachs Group, Inc. (GS: 164.98 +1.38%) fucked Earth something awful. You know damn well, during the height of the credit crisis, when shipping rates plunged 99%, fuckers were going to start starving then rioting. Call me crazy, but I prefer an orderly death, to the tune of 80%+ personal (long only) stock market gains.
A few years of pain and then a strong comeback or Twinkies now and never leaving bedroom for the rest of your short life. Fly you would have made your 80% no matter what they did. This way though, the US is toast.
Nah. you’re wrong.
Joey Bag O Twinkies… lol.
____
“A few years of pain and then a strong comeback or…”
now that, is naive and wishful thinking.
Exactly. Most of the people calling for it to crash and burn really haven’t thought it through OR they are mentally ill. Letting a 14 trillion dollar economy collapse is equal to driving a mack truck off the empire state building then hoping for that truck driver to work overtime, since all of your other truck drivers were killed by gay giraffe’s driving ice cream trucks.
To think that shipping rates could plunge 99% tells me the U.S. was about to be cut off by foreign trading partners, which would have resulted in food shortages and everything else you could imagine.
What the fuck do we need from overseas to survive? T.V.s, DVD players, and other non essential consumer toys?
Oil is the import we need to survive. That is all.
Name one Chinese made product, other than your precious Keurig (yeah it’s made in China too), you couldn’t live without.
God forbid we have to rely on other countries to feed us too. Then we are truly a lost nation.
we are a net importer of many varieties of food now.
Wake the fuck up, FUCKFACE!
If you had to live without food imports, you wouldn’t starve. There is plenty of chicken, beef, grain etc…. grown here.
-Seafood from China. Give me some of that mercury laced yummy goodness.
-Pet food from China. I’ll give that to my neighbors dog when he barks too much at night.
-Vegetables from south of the border. I love the runs.
I can think of a few reasons why cutting off food imports would be a good idea.
There’s no miracle diet.
… and cutting all food supply would simply kill the fatso.
you need to give the man some food. healthy food. and have him hit the gym for heavy dosage of threadmill activity.
“The Fly” seems to be saying make as much money as possible and don’t worry about the rest. I agree, especially if the wealth is preserved through whatever happens. Ride the wave, play the game.
http://www.cbsnews.com/blogs/2009/12/16/politics/politicalhotsheet/entry5987341.shtml
pic of Bernacke (sic)—>
http://i29.tinypic.com/2ed2pvt.jpg
Citi secondary priced in the hole.
Jakes solution: vote gop!!!
No. Vote all the incumbents out and repeat until they get the message.
You regretting that Obama pick again?
__
Yah Jake, because there is so much MORE (sarky, in case you missed it) than just a ‘Gold Leafed’ distinction between the asses and the elephants, as evidenced by Obama’s ‘drastic’ policy changes and the administration he has chosen to run the economy since being elected. After quietly shuffling his original crew off to their respective politcal Siberia’s.
I told you you all should have vote for Ralph Nader!
No, the old man and the dog sledder would have been better. I wonder what those idiots would have done.
Let me guess?
THE SAME EXACT SHIT WE ARE DOING NOW?
I think so.
Wrong!
They would have cut taxes first and waited six months. Then, as we were sliding down the shit hill into the abyss they would have invoked the “Santa Ben” no holds barred technique.
I agree with the “cut taxes and wait six months” in theory, but not as a practical matter.
The difficulty is the foundation of society is running on credit and a working financial system. Without that, we would be in Mad Max within a couple months and then it is hell to fix. That is why they had to take the poison pill of flooding the economy with dollars.
Do not underestimate how quickly things could turn into Mad Max. A large segment of the USA population is spoiled rotten and will riot if denied their toys and comforts. The typical American is not going to sit in a hovel for two years eating canned food and bread waiting for recovery.
My girlfriend will go into a rage if denied her cigarettes. She would probably trash the house if cable TV was removed. And that is just her.
Ever seen the grocery stores get raided before a hurricane? In my area the silly people go into a panic and raid the stores over a 3 inch snowfall. Imagine what would happen if things really got bad.
There would be crazed enraged people smashing windows of cars that happened to be parked next to non-functioning ATMs, etc
That is what they had to prevent
Buy SWHC. It is starting to rally.
That little bearded fucker just may just drive us out this mess. He came in and halted the dominos [sic]…..he talked about green shoots on 60 minutes and confidence went up. He is the market maker KING COCK GS Peyton Manning all in one.
I’d say its 51-49 either way on where were going. You can say the recession is over and look at this headline or that headline…..I say this new economy is going to be funky for a long time……09 melts into 10 and than 11 ….election year and the beat goes on. Wonder how all those assets in Sacramento and Scottsdale, Miami are going to look in 011 …probably about the same.
For future “Broken Robot” pics can I suggest stealing something from Futurama? There is so much material there, from robot Santa to that crazy knife wielding robot.
FYI: for you new-jack bloggers out there, this is how it’s done.
Off to dinner.
If Bernanke flies over in his helicopter and throws the $100 bills out – I will pick them up, but I will not thank the SOB because it is wrong, that’s all. I am in favor of eliminating the FED and outlaw CDSs.
Speaking of New Jack…
“This is the American Way”
-Nino Brown
(Franchise Playa)
LOL FLY
epic troll.
Just because Katy Perry is hot.
http://www.youtube.com/watch?v=dvf–10EYXw
I’m pretty sure Jason Treu is in there too.
The Fly is positioning for NY Fed head… I knew it
Some of the random broker things out tonight so far..
UBS initiates:
Weatherford International (WFT) initiated buy with $24 target
Halliburton (HAL) initiated buy with $42 target (Citi note on Hal below)
Schlumberger (SLB) initiated buy with $82 target
*and Downgrades MXB to Neutral from Buy, price target: $34.00
Wedbush Securities initiates:
Curtiss-Wright (CW) initiated outperform with $37 target
Goodrich (GR) initiated outperform with $72 target
Oppenheimer initiates:
Forest Labs (FRX) initiated outperform with $40 target
Downgrades Spectra Energy (SEP) to Perform
Stephens Initiates:
OII with Overweight, price target: $75
HLX with Overweight, price target: $17
NE Stephens Initiates NE with Overweight, price target: $54
DB Initiates:
VZ with Buy, price target: $40
TWTC with Buy, price target: $19
SBAC with Buy, price target: $38
Q with Buy, price target: $4.75
CCI with Buy, price target: $44
CBEY with Buy, price target: $17
AMT with Buy, price target: $47
BofA/Merrill Lynch Initiates POR with Sell, price target: $20
Citigroup:
-Removes Comcast (CMCSA) from Top Picks Live List
-AMZN:Reit Buy, Raising target to $170 from $140
-Citi Retail team notes:Top Picks for 2010 — Top picks for 2010 include COH, LTD, TIF, & URBN as they believe these retailers best meet their key investment criteria including strong management teams or brands (COH, LTD, TIF, URBN), superior new store growth (COH, TIF, URBN), initiatives to improve lead times creating a durable edge in fashion to drive superior product execution (LTD, URBN), high-income core customer (COH, TIF, URBN) and expectations for positive comp growth in 2010 (COH, LTD, TIF, URBN) driving expense leverage.
HAL -They see HAL benefiting from reduced competition and higher market share in such a scenario, and reiterate Buy-High Risk rating and our $34 price target on HAL shares.
Down goes Frazier (YONG) …..
6:17PM Yongye International announces public offering of common stock (YONG) 8.29 -0.16 : (Note: Co doesn’t provide number of shares offered) …. AH quote $7.75
You may as well buy YONG and their fucking Chinese Miracle Grow. It won’t be on shelves over here for a while though. Apparently, the Chineese are exporting more and more food every year to the U.S. and this stuff is like crack to plants and animals. They just can’t get enough of it.
You got that? We’re also too fucking stupid/lazy/cheap to grow our own goddamn food.
When I go to the store and a can of Campbell’s Soup has ‘made in China’ on it, I’m going to go fucking postal.
AAAAAAAAAAAUUUUUGGGGHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!
Does that work on all plants? MWA HA HA
Should I sell YONG?
Very trenchant discussion — especially given that this morning King Dollah is comin’ for YOU,
Bernanke acolytes!
_________
Le Fly, please apologize to NVDA for your transgressions.
Big ups to Cash-N-Guns on the CALD call
http://www.youtube.com/watch?v=Bqxnm6t3QMw