I don’t know if there is any truth to this rumor, or where it came from, but I am hearing the JPM bet gone awry has nothing to do with Spain or Italy, but with regards to the ig9, which Zerohedge has been talking about for a long time. Essentially, this was not a hedge, but a bet. Plainly, JPM went full retard trying to take in premium and now find themselves on the receiving end of a shit sandwich.
Needless to say, if we are going to comport ourselves in gentlemanly manners, QE3 needs to be provided to the American populous, especially the well-to-do portion of society. I realize some of you blue collared types hate QE because you think it makes gasoline go up. But that’s a bald faced lie. The truth is, the higher the gas the better for states. Did you know your state is banking insane coin off every gallon of gas you purchase? Naturally, they want gas to be expensive, in order to tax the shit out of you.
QE3 will be fantastic, specifically for me, as it will reduce traffic on the road by idling all of the poor fuckers at home, due to onerous “travel expenses.” If you are worried about the specter of a $100 tomato, do not fear, small plebs. The government is liberal with food stamps and will be more than happy to provide sustenance for you and your fat family.
The market is weakening here; but I don’t think we will give it all back. The underpinnings in tech are too strong today. It would take some sort of news item to rattle people out of the chips. As a matter of fact, the chips should be bought on dips, specifically NXPI.
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Your commentaries keep me smiling and laughing through some otherwise gruesome headlines.
Many thanks Fly, keep up the good work.
not many days ago, mr fly, you were of a different opinion with regards to more QE. scared now?
My opinions shift with the spring winds. I am gratuitous in that regard.
appreciate the honesty.
The state’s do not want gas prices high. Gas tax is a flat amount per gallon, not a percentage. It does not increase with the cost of gasoline daily.
Most states do base their tax rates off of the wholesale price of gasoline, but they mess with the rates only once or twice a year.
If anything, when the price of gas goes up, tax revenue goes down, because people drive less or purchase more fuel efficient vehicles.
In fact. most of the coin the state’s are banking off the gas tax is actually not enough to cover transportation projects that are necessary to keep up with our crumbling infrastructure.
Not true. States tax per gallon AND gross receipts. Granted, not all states do this, just the greediest ones, like CT. As a matter of fact, CT was in danger of severe budget shortfalls when oil fell to $38 in 2008.
Here you go.
http://www.californiagasprices.com/tax_info.aspx
We’re not greedy in Connecticut. We’re resourceful.
Most gas/transpo tax spending goes towards public transit which carry 5-10% of the population. Greedy unions and elitist central planners are to blame for our poor infrastructure.
History budget get cut in your school system? http://en.wikipedia.org/wiki/General_Motors_streetcar_conspiracy
How is any of that relevant to my comments? So, GM bought light-rail, converted the routes to buses, and then disbanded them when municipalities decided to monopolize the public transport system. Well done!
My point is that federal/state/county/city governments continue to throw egregious amounts of money at public transportation that instead of spending on infrastructure projects that carry the vast majority of citizens.
u r correct, % is per gallon, not the cost in most states, some cities (chicago) impose even more, per gallon
Bastards here in NC bump the tax based on prices 6 months previous.So even if prices drop today, the tax stays high.
QE3: Good for you, good for me! The Bearded Clam for overlord 2012.
Bring it on. I’m ready for my .9999% Buffalo’s to climb the stairway to the stars.
I know QE3 is coming and i shit you not i will pop a bottle of cham-pipples when it is announced.
If the billions of QE1 and 2 didn’t bring us out of our funk what makes you think QE 3 will? Do you not care about the “value” of the dollar when your children grow old? Do you not care that our children’s interest payments will be more than our defense budget?
you mistake me for economist. i want stocks higher
touché
dollar up gold down, but im lookin at 1580 entry/start.
I is wid da FLY. Higher stock prices and higher NOW
QE3…silver?? AG ??
Damn this market. Damn Damn Damn.
My State gets 37.5 cents per gallon. They would rather gas was cheap so I’d buy more gallons if it were all that.
JPM’s problem was they had a $100 million/yr trader who let his ego get the better of him. Just like Corzine. Got too over the top thinking he was right . Built a bad trade and tried to get out of it by making it bigger. Hotshot finally got reined in. JPM had a bigger hotshot (Dimon) who was able to pull the circuit breaker before things got too far out of hand.
My favorite quote from Dimon during his conference call-
“This trading may not violate the Volcker rule, but it violates the Dimon principle.”
What a duche
That makes him a douche’? I think not.
Check your state:
http://www.taxfoundation.org/taxdata/show/26079.html
Reading the fly in a Bangkok club. Ibc >> all
Ha. Which club? I was out and about at a few last evening.
Tea ? stock market gains.
Coffee = stock market gains.
The correlation is undeniable.
Give in to the bean.
The stress of tea-infused underperformance is worse for your heart than the high caffeine-content of coffee.
Go, Mr. Le Fly, enjoy a cup of some nice, bold coffee.
The site changed my “does not equal” sign into a question mark.
That’s right. The site defends itself against blasphemy.
dimon, the unbearded clam
Look at NFP revisions, they have been all to the upside. I am not sure why no one ever talks about that. Our last set should be revisited up too next month. The Clam is trapped in a box, NFP is not that weak, CPI is getting stronger. They can’t QE me again…BoE is on hold…ECB is on hold until least June, and imho Draghai really was saying screw this, countries take care of your own shit at his last Press Conf imho., China CPI was above estimates last night and they aren’t going to do anything until the new people take over in 2012. Japan is going to ease, RBA is going to ease if anything..bottomline, maybe the Nymph has her perfect storm?