So the guys who were complicit with the entire credit crisis and subsequent collapse, via rating junk as shit CDO’s AAA, are now finding religion by warning the United States may be subject to a credit downgrade?!? Although I agree with them, I do not believe they should have a say at all. As a matter of fact, I believe they should lose their authority to opine on the credit quality of sovereign debt since they suck so bad. It’s not like they made a few mistakes. They nearly destroyed the entire fucking world with their AAA rating bullshit. Now, after everything is to hell in a hand basket, partly thanks to them, they threaten to downgrade our sovereign debt? Something doesn’t smell right.
If I was writing a book of fantasy, pure fiction, I could not make up a more sinister plot to overthrow the U.S. government than the evil shit flowing out of S&P. Who needs conventional warfare when you could simply choke off the liquidity of a nation vis a vis scare tactics?
Ten years ago, they said it was “safe as shit” for investors to buy CDO’s, knowing full well they were garbage. Any credit analyst worth his salt could tell you inside of 5 minutes they were not AAA rated paper, even though they were. So, ten years ago, CDO’s were great. Then, the housing market collapsed and the banks got fucked for holding all of that paper. As a result, many went out of business, but all tightened up and froze lending activities. The result was a doubling of national unemployment, if not more. Since then, the Federal Reserve has been forced to print new money, in order to stave off deflation. They are purposely devaluing the dollar to help our exporters and create the illusion of economic activity. Out of nowhere enters S&P saying “fuck that shit. Your national debt is fucked due to your binging out on CDO’s. We’re gonna slash you guys and destroy the country.”
I know I am jaded; but they should not have a say at all.
The result: stocks are plunging, old school style, now down nearly 200. EDZ, TZA and other inverse ETF’s are off to the races and my stocks are getting S&P’d. My refineries are not doing too bad, all things considered. If people took the time to look, crack spreads are up more than 2%. That’s right folks, when crude drops more than gasoline, that’s good for refiners. Nonetheless, I am interested to see how the tape plays out. We could start to see a “buy the dip” mentality creep back in or “holy shit, OMG, we’re fucked” trading action infect the minds of over-coked, lazy ass money managers.
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FUCK YEAH NATIONALIZE THOSE MOTHERFUCKERS
Indeud!
AMRN… I hope you are still holding it my friend…
fuckem all,there time for fuckery is long overdue.
Let me get my lastest S&P report out and read what stocks they like….NOT!
Anyone think that Pimco, who would probably be S&P’s biggest client, pressured them into this move today after Bill Gross went short Treasuries???
wouldnt doubt it
Now, semis decide to rally???
The federal government… ie. the sack of shit in the White house is the problem. Munis and states are turning their costs down.
everyone double down on WNR here and lets squeeze the fuck out of these shorts
It’s got to be those damn republicans proposing an alternative, anti-american budget.
I don’t see the Dumfuk GOP proposing what they should- Get rid of 100% of
Homeland Security, Transportation Security, cut 50% off the Department of Attack,
and make every fucker on unemployment, welfare, SSI disability, or who has
kids on AFDC WORK for five hours a day picking up trash, tearing down abandoned
houses, in day care, or cleaning the shithouses at the bus and train stations.
Or no checks. You’d see these fuckers back to work in a heartbeat.
Unemployment, except for those on extensions comes from corps and companies. If they’d stop outsourcing, in-sourcing cheap ass labor, and hire instead of hoard, most people wouldn’t have to be on unemployment. Make all disabled people pick up trash? I only know a few people who’ve ever used disability. One temporarily towards the end of her difficult pregnancy and the other had stomach cancer. Your an asshole if you think those people should pick up trash or clean shit houses. Typical repub… only thinks corps should get welfare.
The disabled can be police dispatchers; or if they are quadraplegics,
spend five hours a day as doorstops. Or no checks.
If “companies pay unemployment”, why is it such a big fuckin’
hassle and issue every time a Federal budget discussion comes up?
You’ve obviously never seen anyone go through cancer where they’ve had to have their stomach removed, can barely shuffle along with their IV’s and crap. Heartless jerk. Do you know any disabled average people?
I TOLD you. THE FED’s have had to deal with the EXTENSIONS. Which wouldn’t have been necessary if your wall street a-hole buddies and everything fly mentioned in his post wouldn’t have ruined things.
Oh yeah, turn the US into bumfuck egypt. Yeah, that’s a great idea.
Do you really want that demographic working in day care centers?
Yeah. Under the supervision of a 250 lb Swedish matron with a billy club
and fingernail clippers. Diapers need to be disposed of.
No, but we already pay ’em to grope 6-year-olds at the fucking airport. What’s the difference?
Crack up (again) !!!
wnr getting crushed….
what’s next ?
http://www.guardian.co.uk/business/2011/feb/10/imf-boss-calls-for-world-currency
Frenchie running for Pres. of France. Of course he is gonna spout some anti-American rhetoric.
i believe the answer will be how the market reacts to cos reporting good earnings over the next week. If they sell them off, then i am done for awhile. it just feels like this market wants to sell off so 15% would not surprise me sometime before the Fall. Look at the chart since August 2010. My opinion has nothing to do with todays news other than the reaction to it.
tso down 3%.. vlo down 2.6 %… wnr down 5+%
The Fly says: “My refineries are not doing too bad”
The Fly appears to be full of fly $hit, and his refineries are in the crapper.
Look again . They are firming.
Listen up you S&P bitches, you mess with the Bernake you get rolled. I will unleash a QEIII program that will have you shitting in your pants in no time.
Fuckers.
Indeud.
The end point of further QE is (as Cronkite posted just above) is international bankers owing us even more directly. QE is the gas pedal. Yes it might help your portfolio a bit, but in real terms it might not be, and in the long run its bad for you and your family. Precious metals baby. Get some physical silver and gold.
Fly
I know you don’t want to hear this but the rating agencies have been historically petty decent with sovereign ratings. I don’t say perfect, but pretty decent. They are also different departments.
“Over-coked”
Is their “optimally coked” or “undercoked”?
You pussies need to stop bitching about WNR. If you can’t handle the volatility, sell it and buy a CD.
I love it …. picked up 4k more CHEAPER shares….
See what Obama did to them? They feel entitled to gains without the volatility or risk.
he he he he he he he eh eh e
People complain so much about WNR, fact of the matter is nothing has changed, crack spreads are even higher, and earnings are just around the corner. Why not buy when you can get at a discount? I know I am…
MOODY’s just upgraded the U.S. BUY BUY BUY!
Good cop – bad cop kind of game going on right now.
I agree about the S and P being a waste, but so are 90% of the Analyst out there.. This whole system has been runned by lazy ass people, including the Fed/Govt….yep, they are making money like crazy…but most aren’t seeing Rome burn, nor they care………………Hey good news or bad news, I was the top bidder, and omg the only bidder on one of the auctions of Dixie Chick Designer stuff. She bought her tops super long, even though she is short like 5’3″, her loss is my gain.BTW, If anyone is short or wears FEMALE 5.5 shoes and don’t mind second hand Prada,etc and want link to her ebay store, let me know….I am taller so I can’t wear those items.
Dang, I’m over 6ft, guess I’m out of luck. Thanks for the offer Nymph.
lol, Bullish, I know that broke your heart, rofl…I know how much you love her. But OMG Cynthia Vincent (not Cynthia Vincent for Target, lol) 100% silk top, 20.00…only bid…no politics when it comes to clothes.
Wnr held it’s low from 4/12 and 3/31 while SP made a new low, looks fine to me imho.
Spot on Dr. Fly.
You knew this was coming Fly.
Don’t blame S&P. Blame the fucking Fed for being a bunch of speculative retards.
No I blame everyone. I just don’t think S&P should be in business.
Agreed.
Fucking caught leaning the wrong side and have been snpeed
Days like today I go to gym and hit golf balls.
I take back any skepticism I posted towards this guy. He’s been dead on.
http://www.marketanthropology.com
Long winded – but awesome stuff.
your story sounds like Robert Prechter’s wet dream… all the inflationists get crobared to the face, and are forced to use their gold to rebuild their teeth.
Love it, lmao