Before I get into debt ceiling jargon, are you looking at DECK? I told you yesterday, when the stock was lower: “The Fly wins again, even when it appears he is in the process of losing badly.”
Do you doubt me now.
Space alien magician shit, kiddo.
I will be buying small amounts of stock here, betting on the outside chance our elected officials are not fully retarded. I am not going all in, because I still have my suspicions. Remember, some of these Tea Party people believe NOTHING WILL HAPPEN if the US defaults or fails to raise debt ceiling. These people are fucking morons. Anyway, I am done talking.
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This comment is gayer than a two-headed rainbow skinned unicorn.
This comment is gayer than a two-headed rainbow skinned unicorn stallion with a dick in its ass.
stallion? more like a pony
If The Fly were a band it would be “No Doubt”.
don’t speak
You are never done talking and I’m not done listening. See ya in the Pelican room.
$Fly didnt work out so well though. Oh well. On to the next one.
Time to add GSVC on any dip lower. Looks like it may be a V shaped bottom.
im glad it worked, id of jumped out my window on that one, (first floor) thanks for this site.
“fucking morons” is a term better suited to describing you. we have a debt problem and your solution is more debt?
BANNED
For being a fucktard incorrect grammar or the bastard child of both?
“we have a debt problem and your solution is more debt?”
I’ve heard that thrown around now and it means shit and is downright misleading/ dangerous.
The difference is between an orderly liquidation or a disorderly one. Making the country retrench 10% of it’s GDP in one year would destroy the US.
The fucking right these days is becoming really fucking incoherent and I reckon the big problem is that we lost Milton Friedman.
Part of the right says to raise interest rates while another part says to liquidate the deficit. Some same do both things at once.
That combination would destroy the US.
If Milt were around, god bless his soul, he would be telling the Fed to do exactly what they are doing , would suggest a methodical fall in the deficit to almost leaving it alone, freezing it here , removing obstacles for business and grow out of it over the next 10 years.
That’s what milt would be saying.
The problem is that no one is around to take his place.
God we miss him.
He brought a lot more urgency in South America. As in “cut spending yesterday”.
http://www.shadowstats.com/alternate_data/inflation-charts
Who said it’s the solution? The solution is in establishing not just a balanced budget but a surplus in order to pay down the debt. Cutting off one’s nose to spite one’s face makes a fucking ugly person. How about increasing the debt limit now, cutting back on government spending, and increasing taxes (corporate??), all so the debt ceiling is not only never breached again but rather can be reduced in the future? Make more sense?
Can you explain to me, while being a gentleman, why is necessary to “pay off the debt”? I fully understand why the annual deficit should be no larger than annual GDP growth (in the long term). I do not understand the argument about “paying off the debt”. Would IBM or Microsoft pay off their debt? No, debt is a tool of corporate finance. Debt is also a tool of public finance. We use it to build things that last a long time, and are paid off during their useful lifetime. I DO NOT believe we should be using long term debt to pay for entitlement programs. Social security is self funded. Medicare is not fully self funded.
Do you have a mortgage, or did you rent until you could afford a back yard for your kids? Please explain. Thank you.
So that 40% of your kids tax dollars down’t go to the owners of foreign central banks (private citizens). The whole debt-slave lifestyle is soooo overglamourized.
Fly,
The US will not default if they don’t pass the debt ceiling. That is all BS fed to you by the media and the Democratic Party. Yes, if they don’t pass it, it wouldn’t be good for the markets, but it wouldn’t be a default.
I listened to an interesting podcast last night where the guy said this is not about cuts or higher taxes, instead, it is about kicking the can down the road to 2012 or 2013. The Dems want it kicked down the road to 2013 and the Republicans want it to be mid 2012, so that they can pin the blame on the Dems just in time for the elections.
Unless we sell assets to fill gaps, SOMEONE will not get paid. In my book, that’s a default. When you run out of money and have a deadline to pay someone, and you fail to pay them, that’s a fucking default.
But we can just postpone that payment like we postpone all else. Can’t default when nobody threatens to break your legs if you don’t pay, no?
Can we start selling the Washington monument and other historical sites like the Greeks??? Maybe some prisons
I believe they have enough cash laying around to pay their debts for a while after the August 2 “deadline.” I agree that a default would eventually occur, but not immediately. They have more time, and if need be the president can invoke the 14th ammendment.
See my post, re: kicking it down the road.
http://ibankcoin.com/woodshedderblog/2011/07/29/the-u-s-is-fucked/
i have dem and rep friends, they both r passionate about there positions, but also can see the other side, and dont get into fights. how come congress cant do this.ur post spells it out they r fucktards that look for there job to be protected instead of whats good for america
“…how come congress cant do this?”
because your friends aren’t paid and pressured to uphold their positions
Not pertaining to a default, as that would be a calamity, but realistically, what becomes of a downgrade? I cannot see a default taking place, but a downgrade seems more viable. Does not AA still represent an entity that is more likely to see God, than to be unable to pay its debts? At least from a financial point of view, perhaps not from an emotional, ideological “my country is better than yours” perspective.
Incredible! How the F did you know then, that DECK would reverse after the ER? In at $93.00 and out AH at $90.20. Ouch.
I knew an upgrade was coming
did u dump, saw it shoot to 98,,great call
Think we’ll have a repeat of yesterday? Decent gains till mid-day and then a wild ferocious dump by the end? I think $deck will have a hard time hitting 97 today, when to get out before the debt talks sling some more doodoo butter at the market.
meant 98 again
I saw your post and I thought you poured a few too many. I vacillated about it quite a bit before I traded out. True to form as I have been observing, I should not have doubted you. Bravo!
unbelievably reversal for DECK. Could you spell out how you know an upgrade is coming?
Time to bet on a deal via options….long calls on the market and puts on gold.
damn my timing is incroyable.
Bought a POT weekly (Aug05) vertical call spread 60×62.5 on back of the BAC price target increase. Cost is .40 and if it rises 3.75% by next Friday it pays 5:1. Smallish position, worth the risk in my opinion.
In the report, Bank of America wrote, “Chinese buyers agreed to pay $470 /mt for 2H:11 potash deliveries, a rise of $70 /mt over the 1H:11 contract price. India may buy at least 4 mn mt through March 2012 , which would support global pricing. The recent merger of Russian producers Silvinit and Uralkali furthers industry consolidation and concentrates marketing of 60%-65% of global supply in just two marketing organizations.”
Sorry, I wrote that wrong. It has to rise 7.5% not 3.75% to pay 5:1. I’m game for a double though.
Totally agree these tea baggers are complete morons. Consider the fact that 99.9% of politician scumdouches have no idea how the financial system works (read: tarp) then take the tea baggers and they are complete and total illiterate imbeciles.
did u read what was in that bill?
The Tea Party movement was born just a protest (against TARP).
tea bagging political scumdouche imbecile is the name of my new band
Joey Ramone : Maria Bartiromo
http://www.youtube.com/watch?v=Sf4_-ciaJtk
ROFL
Fly, you sure have courage, both in trading and in writing this blog. You have walked in where angels fear to tread lately. Do you know how many message boards prohibit discussion of political views? A whole lot of them. Somehow, you have found a way to handle this hot potato and keep the board going strong at the same time. Kudos to you!
Very astute observation. It is an art, yes?
jimmie 3 times with a gayer than life avatar
weeeeeeeeeeeeeeeeeee
You are the one that said it.
I might be gay but I am thankful I bought the cash Sp futures around 1280 this morning. Taking my mini-cars mega profit and going the the track after I watch the “Italian Job” again fuckface
Osama’s ONLY goal is re-election, he will do ANYTHING to avoid having this (his overwhelming incompetance) from being an issue too close to elections; he prefers a disaster NOW or after Nov 4, 2012 and he has EVEN HAD THE GAUL TO ADMIT IT! If this incompetant, egotistic man is re-elected to dishonor our nation because we are foolish enough to trust him with the debt issue AFTER 2012 we will be financially ANNHILATED. Boehner MUST stay tough through this no matter WHAT!
His name is Obama. I don’t think he’s doing a great job either.
But to think that Mr. Vote-for-Tons- of Spending- and-Then-Suddenly-Become-Concerned-about- Spending-Now is our savior is ridiculous.
Not paying coupon will be a default. But it’s merely 29B. So even there is no increase of debt ceiling, treasury still have money to pay coupon, med care, med aid and troops. Just not all others which is fine and should not cause a default. The whole default thing is a treat from obama to get the deal done NOW instead of before re-election.
Buy stocks in september, come on guys, this classic buying Sh*t. The FLY over a 10 year average sucks wind in august. He was wrong the last 2 augusts and now again. Go back and research.
jimmy carter likes him, lol
this was reply to the pizza throwing guy
Here’s what the deal will be in a nutshell. The Dems will agree to kick the can down the road until 2012 and the Republicans will agree to tax hikes. Virtually no spending cuts will result.
All to be announced and voted on, on Sunday.
i dont know fig, this would be a bad thing for the mkt… we’ll see.
There will still be a relief rally. This intraday rally is going to hold, and then we get a nice push on Monday, just in time to sell.
so if we lose aaa , does that mean if r car breaks down we got no-one to call?