The stupidity of you Tea Party people is astounding. You say we shouldn’t depend on the Fed and how we never needed to bail out the banks. With your ugly mugs, you tell people we should let things fail and just reset. Well, fuck you very much, that doesn’t do it for me. I am only interested in what will help the markets go higher, not destroy civilization and start a anew just because you failed at this one.
It’s gonna be interesting to watch these moron Congressmen try to balance the budget as tax receipts spiral lower. Don’t you understand the budget CANNOT be balanced when the economy is depressed? Go ahead, clamor for upheaval and deal with the consequences. A great man once said “be careful for what you ask for because you might get it.”
In a world without banks or solvent ones, you will be forced into local tribes or clans, warring with rival tribes for resources. I will head up an armed clan invasion into your bullshit neighborhoods and use your house for firewood (there will be no heat due to utilities gone bust).
This is a midsummer nightmare for me, as I am crashing lower, down almost 10% for the day, even with a 20% cash position. I have given away most of my annual gains in just one day. Some of you will take this opportunity to praise yourselves by besmirching me, so be it. I will have my revenge on you, one way or another.
Margin liquidations are pushing the indices to new lows. I anticipate some hedge funds will blow up and lead to an unmitigated disaster in the equities markets. You might find pleasure in the destruction of society; I spit on you and would like to scalp you Indian style. The issue at hand is ineptitude, from the Europeans and here in the US. We have a President who wants to raise taxes in the midst of a fucking disaster and the other party obsessed with balancing a budget. This is a recipe that can only be concocted and designed by the devil himself. It’s only money and there are other things in life that are more important. But if you believe our biggest problem is balancing a fucking budget, friend, you are nothing more than a blue collared jackass and well deserving of the future section 8 checks that you will be sustained on in the future.
This was the worst trading day of my career.
[youtube:http://www.youtube.com/watch?v=M-b3iU-INDo&feature=fvst 616 500]
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My asshole bleeding thanks to MPEL.
lmao, funny i had just sent a text to a former colleague that said, “i’m bleeding $100 bills out of my ass”. i empathize with your soreness.
at least wnr looks great!
and so is your face
These are the days I live for as a patient trader, and I just couldn’t pull the trigger on going long here at the close. Going to stay a little more patient here. Lots of damage being done, more liquidations tomorrow I suspect…
GLTA,
-HDDB
These are the days I live for as a patient INVESTOR……
Well said. The tea-party idiots are well on their way to sink this country on par with Somalia. Somalia does not have a Fed that intervenes, gold is the standard currency and market function without Government support.
The tea party fools should be neutered so that their progeny don’t resist the US market that has been making new highs since 1850.
Who are the fools listening to Tea Party idiots?
Last I checked, it was the coordinated efforts of 150+ central banks worldwide that have had the greatest impact on the world economy,
The Tea Party does not own a single central bank.
Exactly. The Tea Party is upset about the overleveraging that caused all of this. Who caused all of this? IT WASN’T FISCAL CONSERVATIVES! The solution is not more of the same leveraged overspending with funny-money. Period.
True. I think Fly’s point is that the Tea Party made things worse. Austerity is not a way to get out of a Depression or near-Depression.
Well, actually it is a way to get out of it. But almost everyone starves to death in the process. Plenty of resources left over for the 100 or so survivors.
I guess it has become cool to blame the people who lift a finger to try to do something about it, because they are closer to the action.
Kind of like blaming Jesus because Satan still exists.
They are trying to do what? They are not trying to spur growth by balancing the budget, are they?
I’m a political agnostic => I think all parties are screwed, however we seem to be in politico mode so here’s a thought or 2:
http://fullcomment.nationalpost.com/2011/08/04/david-frum-barack-obamas-blame-for-the-u-s-economy/
Frum doesn’t account for stifling regulation and the brunt of Obamacare, which has absolutely destroyed employment… I was going to respond in the comment section, but the very first guy to comment captured the gist well. Market pricing is about the future:
Business have to plan for (predict) the future, and will postpone activities (investment) if risk is deemed too high. Markets are automatically adjusted by the consensus of future probabilities, and todays “correction” was just that. The outlook is not good despite teleprompter happy-talk. Obama’s socialist policies are future dated to facilitate his reelection, but an upcoming economic storm is just as bad as a current one to investors. Nice try Mr. Frum.
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Every rose has its thorn
Every night has its dawn
Every cowboy sings his sad, sad song
Confront them with annihilation, and they will then survive; plunge them into a deadly situation, and they will then live. When people fall into danger, they are then able to strive for victory.
Sun Tzu
Shout out to J for calling this tape on the phone with me this morning,
Glad you started taking his calls, finally. I told you he was a smart fucker. 😉
________
I did buy some SDRL into the close. I may get banned for that.
You sir, are a wise man. You must be, I did the same thing.
now I am really scared
..clearly for the dividend play right? lol
hang in there scooter
Why are you blaming pro-Constitutionalists for the intentional crashing of the world economy by private central bankers, in their efforts to usher in an unelected world collectivist govt.?
You already know this is happening. Aren’t you also aready aware that these same central bankers have now launched a coordinated media and blog blitz blaming Tea Partiers for central banker actions?
The best defense is to lay blame on your enemies. Don’t take the bait so quickly.
Our Constitution SUCKS. A “representative Republic” does NOT WORK in this era.
Did it ever? Government has always “worked” for the well-connected few.
That’s why much smaller gov’t involvement in most things = much better.
True. But in the past it has been better than it is now. Eisenhower warned us about the military industrial complex. He was a cool guy, even though I haven’t liked most Repub presidents. He should have warned us about all the other Special Interest Groups too. Not that anyone listened to him.
The era of Coolidge was the best. Silent Cal believed in free enterprise and minimum government intervention. Little has been studied about him because the Progs hated his guts. Unfortunatley, by the time Coolidge took office, the Progressive ruination had already infected the corpus with the 8 years of Woodrow Wilson, perhaps our single worst President, ever. Another one who is somewhat neglected by the history books, to our chagrin.
And – – Wilson was another academic, btw.
Beware the fuckers who think they are smart enough to do your thinking for you.
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Give it a fucking rest for one day.
Mangez moi, baggete de douche.
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Constitution works just fine. It just needs more amendments to prevent central bankers from using their unlimited supply of fiat money to purchase ways to work around it. Those amendments need to be directly tied to using the industrial military complex for cracking central banker heads when they try to purchase control.
THE FUCKING PROBLEM IS NOT BANKERS YOU MORON. The problem is growth and confidence. Without job creation, you will be chasing your balanced budget fantasies down the rabbit hole.
Indeud
Do you think people have been confident up to now?
The market recovery was clearly fueled by a lack of confidence.
And who creates jobs, Monsieur? The Fed?
Are you serious? Perhaps a quick review of the 1920-21 “Depression” is in order?
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It amazes me that you can’t see beyond your own tea bagging ideology and see the interconnectedness of main and wall street. You have absolutely no idea of the fire that will torch capitalism at this point in time with your balanced budget garbage. The market this week has completely discredited your tea baggin ways.
Quite the opposite. Fiscal conservatism didn’t happen this week by any measure. The “cuts” were from projected spending increases.
You see, you lost all credibility with “tea bagging.”
And then, despite all the extra words you did nothing to solidify — or even slightly support — your point.
The market is pricing in recession resulting from slow growth and high unemployment fiscal policies. It’s got nothing to do with a mythical balanced budget amendment that never was, and likely never will be.
I’d call that a Double Fail, Lungsac.
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Tea Bagger is the progressive democrat/Fabian socialist name for a Libertarian. They couldn’t use the name Libertarian because they couldn’t control the definition, so they made up their own name and then used their purchased media to make all Tea Baggers look like assholes.
This method came straight out of the Saul Alinsky instruction manual for communist wannabes who take great delight in fucking other human beings up the ass.
Tea Baggers and their ilk are far, far from Constitutionalists. Try reading it someday… and the Federalist papers, too.
At least you are aptly named, at least.
However, I’m betting you couldn’t tell John Jay from Jaye Davidson.
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I think I’ll reach for the finest Scotch and will contemplate for some time what has just happened right in front of my eyes…
What is just starting to happen you mean. I think broader markets sink 20% lower from here before Ben get’s his helicopter running.
I feel your pain today Fly
scalps tomorrow
Got wiped out today.. with my remaining cash I bought $8,000 in VIX puts. Time to gamble!
Give the 8k to charity. Your Karmic reward will be greater, and you won’t have to call yourself a loser. This is not your game.
Karma? Yeah, I don’t believe in such nonsense. Thanks for your input.
I didn’t see your post letting us know the market was about to take a shit.
I see your logic but I’d say given the rarity of a move like today’s, I would wait for evidence of stability. A VIX straddle might be safer? Or even a bear spread if you really think volatility will decrease. I’m thinking things are going to get much worse before they get better, and your puts are going to cost you a lot: don’t try to catch a rising knife, lol.
This will payoff, at least at the open..
Today action confirms that Obama is going to lose in 2012. American’s generally like to vote in a president with two balls.
This ^^^ was a sexist comment.
Geithner and Bernanke have often stated that they will use any tool available to jack up the economy. As long as it isn’t a monkey wrench I think we’ll be Ok….
Sold all of my TZA at the close, hope I didn’t blow it…
Amen, Fly
Indeed Magnanimux, Somalia is the tea baggers vision of a “free” society. Neutering is good but not enough. Send them to Somalia as they desire.
Go fuck a walnut tree, sock puppet.
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I will continue to be non-political. Just trying to buy my little slice of the equity market for as cheap as Mr. Market will allow. I had enough limbs break under me in the tech crash to do too much tree climbing anymore.
Good luck to one and all tomorrow. No predictions from this kid. Just hit what’s pitched…….
Something about listening to a snow song (no blow) in August is incredibly eerie.
NOTICE TO ALL TEA PARTY GOERS: WTFU
http://ibankcoin.com/news/2011/08/03/spending-will-never-end/
Fiat debt is built upon credibility.
Combine that fact w. human nature’s tendency to overextend and you’ve got guaranteed failure. 1.000 batting average for fiat currency thus far.
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That’s the problem WallStreet made the mistake of counting on a bunch of morons….And if WallStreet hadn’t talked the morons into dismantling Glass-Steagall years ago then ….. F those God damn Morons
Heh, yup let the guys running the casino create better games to blow everyone and themselves up with? That’s awesome. I don’t completely blame the nitwits in Congress. They are just following the money. It’s the American Way.
GLTA,
-HDDB
Quit reflecting on what got us here and tell me how WE GET THE FUCK OUT
Painful spending cuts, responsible banking rules, 2 years of sack-cloth and ashes. Mass anarchy and tribalism for a while. There is no alternative. Doing it through hyper-inflation will have the same effect, but will prolong the coming pain and misery.
Being a little overly dramatic, but certainly expect less personal freedom in either scenario.
Word….
I actually agree with you. HOWEVER< I rather eat my peas later.
I just don’t want to feed rotten left-overs to my boys. I’ll eat those peas now please and thanks.
Make no mistake, they will monetize the debt via debasing all fiat currencies and then institute a global currency regime via an SDR made up of a basket of intl currencies that will be backed by a prescious metals component tied to worldwide us dollar liquidity.. This is not a gold standard but a hybrid of sorts. That will be the fix after QE 4 or 5 ends in or around 2016. There will be plenty of upheaval leading to this..
Since morons running the government, I would suggest emigrating as the best way to get the fuck out. I am not smart to craft nor see a solution to this disaster.
Let’s start World War III. It worked pretty good last time.
Let the US govt become the printing press (we already have this power) and then default on all monies owned to private central banks. That is the way out.
Austerity is being sold as a way to pay back the central bankers’ interest. No one needs to pay them back whatsoever. Kick them to the curb.
we got to get with the T-bone pickens plan like fucking yesterday. i have a shit load more, but i got to go p/u baby from her min wage job…………fucking try that after pounding down 126k a year.pffft
I know,
first we kill all the lawyers
Start dealing with the real problem, which isn’t spending or taxes.
It’s the debt.
Fly, I hope you will get some exercise or do whatever else you do for stress release. This is a very stressful market.
Of course, as you say, you will come back from this in a big way financially. Right now, the most helpful thing for you, and other folks with skin in the game, is to release the stress. Stress release makes us feel better and helps us to think more clearly.
A good solid besmirchment can be very satisfying and even rewarding. But not here, now.
All is well Linkedin doubled earnings and is trading up after hours. What Moron would pay $100 for stock that only earned $.04 last quarter. Fn unreal
What a day. For the Fly to say that this was the worst trading day of his career is HUGE. This reminds me of the flash crash, albeit slower, and the crash days of 2008.
Head up Senior FLY, remember that you win even when it appears that you are losing.
I thought he’d had worse during the dot come meltdown, no?
____
the tea party, the austrians, and similar lines of thought must be heavily long bonds and cash, and sadistic, lol
truly, they argue for the greater harm, and weild the most dangerous weapon mankind has ever created: ignorance
and I say this as a liberal hating anti socialist, they just have no clue
Hey Check, get the name straight. They are Austerians, not Austrians. Austerians cut and cut ala Tee Partee. Austrians ski and yodel. Good day.
lol @ yodel
Thanks, I glad I good for a laugh every now and then.
Austrians are Hayek, Von Mises, etc, and moreover, correuct.
Austerians sounds like the next bullshit liberal label, a la “Trickle down.’ In other words, made up and largely bullshit.
_________
Tea Party douchebag
The problem is that modern economies and governments are too big and complex for people to understand. So people lean on some ideology to tell them what they, and the government, ought to do. But the ideologies are dim witted and unrelated to the real world– just slogans really. The Tea Party people really believe they have a great solution for the economy, as does Obama.
People are just doing the best they can in a complex world that they do not understand.
I believe that at minimum technology, if not most modern “systems” have “advanced” to the point where humans in general are no longer capable of functioning with/within them.
Most humans cannot function without them either. Like women.
The god damn terrorists are in the White House.
The tea party wants to balance the fucking budget and you throw them under the bus in a typical New York liberal fashion. You asshole voted for a communist that wants the government to control your health care.
I hope you learn a lesson from your careless ways.
Would you rather make 10% off your WNR position today or have Your kids working for a bowl of soup and a slice of bread in a FoxxCon factory tomorrow.
Suck it the fuck up.
Memo to you New England Lib trust fund babies:
Pay your fair share bitches.
You are an idiot.
You voted for Obama!
I voted against the dogsledder.
Enough said!
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A Samsonite cartoon is just what we need today. I would love to know what Mr. H has to say about todays action.
http://www.youtube.com/user/ibankcoin#p/u/9/RqQ4DO8b3CY
There you go.
SAMMY Flashback
I hope that America can get beyond blaming and can figure out ways to problem solve. No matter who you blame for this, you still have to do something about it, to go forward. What do you do? I mean, besides hating and blaming. That’s the question.
good call
1. Bond buyers are demanding higher interest rates for shaky debt from fiscally unsound countries.
2. The FDIC is slowly, but steadily, dissolving banks that made excessive bad loans.
3. US citizens are demanding that their government rein in the mis-allocation of capital.
4. Cities that don’t have the money to fund their pie-in-the-sky fantasies are filing bankruptcy.
5. Businesses that should never have existed are filing bankruptcy.
6. Equities are being returned to a more sound basis of valuation.
The problems are being solved. What is your gripe?
Eggsactly. Frog is pulling the passive aggressive Dr. Phil routine, and it’s starting to become aggravating.
He wants everyone to drop their ideology and get w. Obama et al, who have no ideology.
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Not true. Obama’s campaign was financed by Special Interest Groups and it shows. I want us all to only vote for political candidates who do not accept a dime from Special Interest Groups and who are honorable and have good records of being good public servants in their communities and reasonable practical people.
Why do you think that everyone who voted against the dogsledder loves Obama?
And why do you think that I believe Obama has no ideology?
Everybody is not either with you or against you. Some people agree with you on some matters and not on others.
Communitarianism, aka collectivism, aka Fabian socialism, aka communism mixed with socialism, is their agenda.
They are watermelons. FInanced by the UN. Which is financed by the IMF and World Bank.
Feel your pain, worst day for me of last 2 years…Shit Happens.
I’m fucking 78% cash and I still lost a fucking boatload today in fucktarded names like TNA, WLT, and F just to name a few.
http://www.businessinsider.com/a-thousand-pictures-is-worth-one-word-2011-8
cool read, scary but still cool
I thought it was pretty cool that Turkey’s fiat currency honored US horror movies by putting Bela Lugosi on their face.
And Fly’s Romanian currency was kind enough to feature the late lamented Robert Palmer
And let’s not leave out <a href=http://www.banknotes.com/NI166.JPGCentral America's Nicarauga honoring the wry but dashing Stewie from “Family Guy”. Eggselent all.
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Try that Nicaraugan Stewie currency one more time.
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Ever Spock a 5?
http://www.google.ca/search?q=spock+5&hl=en&safe=off&rlz=1R2ACGW_en&biw=1035&bih=686&prmd=ivns&tbm=isch&tbo=u&source=univ&sa=X&ei=gDs7ToCdNsXb0QG_rojqAw&ved=0CCMQsAQ
That’s awesome… here’s the “PRO-cess” as you Canuckistanians say:
“Spocking” a Fiver.
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Don’t envy the mouse for the cheese in his trap.
You mean the cheese of easy credit and the trap of debt-slave austerity?
Could he be right? Putin referring to Bernanke as a hooligan and comparing USA to a parasite.
When did the US of A last default? When did Russia last default? Oh wait. Never mind. Being called a parasite by a KGB lizard. That’s precious.
In Soviet Russia, Parasite eat Lizard!
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My not be pretty but it is what it is. Last November’s elections sealed the fate for risk assets as the Tea Party austerians were given a mandate to cleanse the system. I agree with you that the Tea Party types are economic illiterates and whack jobs but that doesn’t change the fact that they have made it politically impossible for any further stimulus or bailouts. For the first time since Greenspan intervened to save the system after the 1987 crash the markets are now on their own.
if we dont fix it now, when?
I think most people can’t even begin to imagine how UGLY it’s going to get if we go cold turkey on bailouts and stimulus.
Which is why we won’t.
Don’t scapegoat the sentient for your own laziness and stupidity “Rocket Scientist.”
___________
You need to look on the bright side. Think of the great cost basis we are all going to have in our new stock buys to take advantage of the zero capital gains tax rate the Tea Party will give us.
I know…STFU.
Hey, it doesn’t matter what the capital gains tax rate is. After the losses I realized today, I won’t owe the motherfuckers anything anyways!
And the funny part – the really hilarious part – is that the dumbfucks from the CBO will still act all surprised when capital gains revenues dry up during next year’s tax season.
WRONG. They will add currency to the system so that the nominal value is increasing. There won’t be real gains to tax, but the market will dish out nominal gains in spades.
I did something I rarely do. I bought SMH @ 29.82 just before the close for a swing trade- very small position as I am a coward.
I never care about the longer term effects of hedge fund blowups. Those asshole managers just go and start another fund.
OMG, TC calls the bottom. I’m still long $SOXL so I hope you’re right.
Was this a bad day?
Oh, right, Putin is a real nice guy and honest and moral. What planet do you live on, quoting Putin as if he is some good person to be listened to?
Interestingly, what makes him a bad person? The guy has invested billions of the country’s wealth fund into US treasuries and is risking losing them. We here use even worse words as “hooligan”.
he didnt “invest” any money. He bought influence and needed a place to park cash safely.
He’s also buying shitloads of precious metals.
He’s goldfinger
And he wants to start pouring molten PM’s on the heads of his asshole enemies, game of thrones style.
“What planet do you live on, quoting Putin as if he is some good person to be listened to?” Where do you get this idea,’quoting as if”. How does one do that? Maybe you can copy the answer from your GED study guide. You read too much into something you don’t know how to read. Stay with your iPad user manual.
Putin is a Russian nationalist, not a communist.
He may rub all you holdout Cold Warriors the wrong way, but everything the guy does is for the benefit of the Russian people, and he could give a flying fuck about the rest of the world.
Too bad our leaders care more about the rest of the world than they do about us.
Well, Putin puts Putin first, then the Russian people. Well, his Afghan hounds might come somewhat before the Russian people. Putin wants no less than to be king of the oligarchs, otherwise known as czar.
Russia has pretty much returned to being a Doestoevsky novel, with automatic weapons.
__________
He has achieved his goal already in all but title.
until someone pays the piper for the banks misdeeds the economy will continue to suck ass due to our zombie banks. there is no easy fix to our problem. sure another ‘fix’ via QE3 would be nice but we’re still gonna be junkies
I was replying to Ruggyup at 4:34. Next he will be quoting Stalin. Putin. I mean, google him and read what he is about.
someone call wnr to $15…. what a nightmare come true
As Marty Schwartz would say… “time to head to the safe deposit box and get the gold”
Fly, it has been a brutal day and I by no means wish to throw salt into your wounds. But usually you are dead on when you follow your intuition. It wasn’t but a week or two ago that you vehemently described August as the month when treasuries would do well.
I.e., when everyone would be dancing The Hugh in the streets naked with their giggly bits waving around.
I’m sorry you didn’t follow your always fantastic intuition into the month of August
the way I read this, we are everything bennie says japan was when he penned the heli-speech
bennie said:
The claim that deflation can be ended by sufficiently strong action has no doubt led you to wonder, if that is the case, why has Japan not ended its deflation? The Japanese situation is a complex one that I cannot fully discuss today. I will just make two brief, general points.
First, as you know, [b]Japan’s economy faces some significant barriers to growth besides deflation, including massive financial problems in the banking and corporate sectors and a large overhang of government debt. [\b]Plausibly, private-sector financial problems have muted the effects of the monetary policies that have been tried in Japan, even as the heavy overhang of government debt has made Japanese policymakers more reluctant to use aggressive fiscal policies (for evidence see, for example, Posen, 1998). Fortunately, the U.S. economy does not share these problems, at least not to anything like the same degree, suggesting that anti-deflationary monetary and fiscal policies would be more potent here than they have been in Japan.
Second, and more important, I believe that, when all is said and done, the failure to end deflation in Japan does not necessarily reflect any technical infeasibility of achieving that goal. Rather, it is a byproduct of a longstanding political debate about how best to address Japan’s overall economic problems. As the Japanese certainly realize, both restoring banks and corporations to solvency and implementing significant structural change are necessary for Japan’s long-run economic health. But in the short run, comprehensive economic reform will likely impose large costs on many, for example, in the form of unemployment or bankruptcy. As a natural result, politicians, economists, businesspeople, and the general public in Japan have sharply disagreed about competing proposals for reform. In the [b]resulting political deadlock, strong policy actions are discouraged, and cooperation among policymakers is difficult to achieve.[\b]
In short, Japan’s deflation problem is real and serious; but, in my view, political constraints, rather than a lack of policy instruments, explain why its deflation has persisted for as long as it has. Thus, I do not view the Japanese experience as evidence against the general conclusion that U.S. policymakers have the tools they need to prevent, and, if necessary, to cure a deflationary recession in the United States.
We now have the same political deadlock that Japan has had. Fiscal stimulus is impossible in this political climate and monetary policy is ineffective. When the 10 year T-bill is at 1.5%. perhaps the idiots will stop fearing inflation and arguing that our high debt causes high interest rates (it doesn’t!!). Then payroll taxes should be eliminated, corporate taxes lowered and legitimate infrastructure spending (not friggin high speed trains) should be piled into like we was going to war, which we will be.. against deflation.
I don’t know how soon Ben will stop punishing the Tea Partiers who were biting the hand that was feeding them QE. But I don’t think today was the last of it, even if there is a bounce tomorrow.
So nowBen is punishing the Tea Partiers?
It’s not just you, Mr. (Ms.?) Passive Aggressive?
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Well one blue collar is doing ok. Oil field equipment is selling at all time highs, I am making 80 hours a week overtime, and the world is good.
Betting on oil is a slam dunk here in my world. But, hey, what do I know? I am just a blue collar….
You will be unemployed within 1 year if this path continues, as oil will go back to $30.
Senor Obama please don’t get involved in this shit. Let housing tank, maybe I can finally buy that house on sale. Please don’t give the free money like u did two years ago.
Think I drank enough, Kate Kelly looks HOT.
Yikes, Gramps, check to see if your liver is still there.
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$mww down 40% in month and down 17% this week…there are no jobs…report might look ugly tomm
look at nly, only down 2,75%
Somebody stepped in and bought 150k shares of XIV in AH. That’s a decent sized bet that we’re close to a top in the VIX.
when ever i want 2 eat 2000 of something, i eat rice
RIP Mitch
I want POMO FOREVER. I wish it were available every day for the next 100 years. Then everything in my Zeeco account would be OK.
I want a constitutional amendment to have POMO 7 days a week…….
lol.
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“THE FUCKING PROBLEM IS NOT BANKERS YOU MORON”
Yes it is. They created this fucking mess by leveraging up by 30-1 and playing Ponzi finance. Greenspan kept rates too low for too long.
They were then bailed out by the government after failing adn they proceeded to thank the tax payer by bending them over and sticking a huge dick up all of our asses while they paid themselves huge bonuses on the profits they made using taxpayer funds.
THE BANKERS(ESPECIALLY THE CENTRAL ONES) ARE EXACTLY WHO SHOULD BE BLAMED!!!!
They deserve this crash and I am loving the fact that my trading account is up 60% in 2 weeks. Most of Wall St needs to choke to death on all of this easy money.
The world would then be a much nicer place.
Wall st crashes, you crash with it. It amazes me you main st people do not realize that by now.
Heard that before. The world will die if Wall St doesn’t get bailed out. I realize what you are saying and I am telling you I think its a crock of shit.
New banks will arise from the ashes and replace the old ones if they fail adn they will be solvent. Sitting here and dying a slow death kicking the can isn’t the answer. It does nothing but guarantee more misery.
The economy will go nowhere until the losses are taken. QE3 will only extend the pain.
If I have to live like a Cambodian in the meantime then so be it.
you don’t understand wall st and under-estimate wall st. If you owe billions, creditor is afraid of you, not the other way around.
now wall st is laying ppl off left and right. Within 6 month, main st will see the same thing. At least that’s what happened in 2008.
Wall Street is not central banks. Central banks are a different entity altogether. Stop confusing the issue.
also where were the regulators, oh yea they mandated easy loans so more could own houses,,,
It doesn’t hurt them. If everyone is going belly up, the central bankers can raise interest rates, then create money from thin air to buy all the assets that are for sale on the cheap. They don’t fear economic crises. Far from it.
punched right in the jujunum!!
did the ppt show this comming?
Don’t fuck with me.
Anybody expecting any oscillator to pick this up deserves to lose all of their money.
u r right.
I use a very dynamic oscillator, that has been getting crushed over the past week. One of the best ways to limit drawdown using mechanical systems, is to simply scale back when price range(s) break through 1.5 and 2 standard deviations. None the less, any oscillator is going to get chewed up and shat out in this environment.
How about a clear-as-day head and shoulders pattern on the S&P500 chart?
anyone have a link to a list of montly job number around the world ?
Buy on the Dip!!!!!!
u mean plung?
You mean plunge?
fat fingers,,,
Yes! Buy on the Plung!
Lead in on local news is 500 pt drop in market….not good for tomorrow’s open.
Glad I’m net short.
Open drop to 1180 then explosive rally.
if we do rally, i thinkin it will be sold, unless jobs no is good.
Europe will stop the bleeding with a big financial package of bond buying and bank bailouts. No way they let a run on the banks happen in Italy.
Germany will capitulate like they always do.
then the dollar rallies, til they turn on the printing press, what does that mean for stocks
You don’t think we’ll be part of the bailout mix? “Lines o’ credit” like lines o’ coke, I imagine.
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Play it safe and go short on the next rise of this long leg down.
so if there is a bounce, will everyone sell into it like yesterday?
And guess who is buying. I’ll give you a hint: They own central banks around the world and can create money from nothing. They just like expanding their control over assets now and again by buying cheap during an arranged consolidation event through their holding companies like Goldman Sach’s and JP Morgan.
The rich and the poor have the most to lose in this debate so they will fight tooth and nail to maintain their status quo. The poor, being lazy, don’t want to leave the tit. The rich have revelled in easy money. This is the end of their era, now they must take the pain. If they are good sports about it they will survive, if not they go down the hard way.
Is that Sinatra in your new av?
Von Ryan’s Express?
Man, am I slow….
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1. Print more dollars (QE3).
2. Increase federal spending, especially entitlements.
3. Cut payroll taxes.
4. Worry about fiscal austerity and inflation later. Much later.
No carbon audits. No eco-society. No brown shirts. No thought police. No gulags.
That’s all we really care about at the end of the day.
The effects of contango in VXX on full display today.
The VIX surpasses the Fukushima high today yet VXX is substantially lower.
http://stockcharts.com/h-sc/ui?s=vxx
Buy and hold on XIV into the maw of doom!!!
Ask the government to bail us out? Fly, brother, you were in cash last week and saw this coming. You knew the WNR management were retards. You had the Joe Namath NY Jets SuperBowl playbook in hand!!!!!!!!!!!
What is the government going to do? Pay retired astronauts $30-million a piece per year to buy foreclosed homes?
Your rampage speech is one of a piker, not one of a distinquished man. …..
Smart money bought GUNS into the close.
and long-term food storage…
Fly! Are you going to keep buying?
By the end of the year, when the dollar hits 150, I plan I buying an Italian winery in Tuscany.
150…. pesetas?
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Cutting government spending is/was a massive mistake. We face a fallacy of composition; as the private sector de-leverages, the government keeps the economy churning by spending money. With both sides de-leveraging, the economy comes to a grinding halt. The feds should be spending money, not cutting, until things pick up. With the private and public cutting back, everyone is fucked.
Moving forward, if the economy does start to collapse in a mannerism similar to 08′, I hope that the banks will simply accept transfer of home deeds instead of going into foreclosure. Balance sheets would look a hell of a lot better that way. Better off taking the home from the owner, on paper, and renting to that fucker, than selling for a massive loss and/or allowing nervous citizens to make a run on your institution.
Only real way to get things on track is for politicians to feel the consequences of their piss poor decisions. How that is accomplished, I have no clue.
Down 8.5% today. Where is that fucking clam?
Saw this last post… and you mean “manner” not “mannerism.”
And the gov’t isn’t cutting shit for the foreseeable future, so relax.
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HA! What can I say, it was a rough day.
I live in Boston, and walked home today instead of riding the T. It was gorgeous outside and I needed time alone to think about the mess I made in my account today. The entire time “what ifs” were running through my head, ESPECIALLY as I’m going down Newbury. Grammar was the least of my worries, at the time.
Since then, I’ve worked out, cleaned up, and am preparing to crush anything coming my way tomorrow.
Good luck to everyone.
Long 2000 SPY’s @ 120.05
Grow some Cajones people!
Out 2000 Spy @ 122.03- $4K overnight hold. Ok, next trade…………..
The circus in Congress the last 2 weeks shows that the US is not serious about dealing with their debt.
A symbolic tax increase of some kind would have shown the world that you have the will to do what it takes and would have given investors some confidence in your economy. Companies are awash with cash right now and could afford to see a few of their special breaks go away.