iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,468 Blog Posts

The Aftermath of Hurricane Sandy

“Fun time” is over. It’s time for you to get out from your flooded basement and GET BACK TO WORK.

Wall Street will be trading tomorrow; as a result, I intend to start banking coin again.

There was some negative news out of AAPL, with regards to executives leaving the firm. But the hurricane clean-up will take precedent, buoying an already buoyant construction materials market to the point of bliss. Everything from sheet rock to paint will be in demand. Contractors will be busy for months, cleaning up the mess.

My friend’s house was all but destroyed. This morning bull dozers are knocking down 900k homes, because they cannot be repaired. Down the block from him a father and his 13 year old daughter perished by drowning. In Queens a 6 alarm fire ripped through 100 homes. The northeast is ill prepared for these type of events. We’re not supposed to get hurricanes, let alone two years in a row.

From what I understand, ChessnWine is fine, but without power.

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42 comments

  1. Mister Jinx

    Glad all seems OK at Chateau Fly. Look forward to the market being open tomorrow.

    Just got out of a benefits mtg at work and my firm is cutting its health insurance to a single offering with a ridiculously high deductible, meaning my family will have to pay thousands of dollars more for health insurance in 2013 than it did previously. Direct result of ObamaCare.

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    • Frog

      Interesting. How is this a direct result of Obamacare? It’s not as if employers in the current economy are not cutting benefits, outsourcing jobs, & cutting costs in every way possible.

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      • Bleached Asshole

        everything’s obama’s fault per the right wingnuts

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      • KDog

        It further encourages them to do so, no?

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      • Mister Jinx

        It’s a result of ObamaCare due to the insurance company needing to make more money off of me to make up for the increased cost to insurance companies for complying with their mandates under ObamaCare (some is anticipatory).

        I’m not a right-wing nut — just don’t like shelling out $2200 more than last year for no reason.

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    • Mr. Cain Thaler

      Yeah, I’m going to agree with this lot and say that’s a push that’s been happening for quite a while.

      Obamacare isn’t making medical costs go up. In fact, Obamacare doesn’t do anything about medical costs at all…

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    • PPT Believer

      Hmm, I seem to recall firms doing this long before Obamacare was taken into consideration.

      And should Obamacare evolve as it is intended to, you will be able to shop for insurance as you do now with car insurance, for example, sometime within the next few years. Sure would be nice to have that competition, not to mention flexibility.

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      • Mister Jinx

        Firms may have jacked up rates beforehand, but it sure is funny how they moved to a model with a relatively low-cost HMO model and multiple coverage options before ObamaCare passed and now, immediately after its passage, we’re all being shoved into a single, high-deductible plan with the same premiums and no choices. Even the libs at my firm say it’s due to the “federal legislation,” which is what they refer to as ObamaCare when it’s being viewed perjoratively.

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        • Mr. Cain Thaler

          I think firms are underestimating the penalty costs associated with not offering coverage

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  2. Jakegint

    FYI — that wasn’t “Queens.”

    As a Brooklyn boy, you should know that Breezy Point is also Crooklyn.

    __________

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    • DMG

      Au contraire, mon frere…the entire Rockaway Peninsula is in the borough of Queens. Too long down south?

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  3. RC

    looks like you made it out off the Island just in time: http://instagram.com/p/RaR860PaGW/

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  4. Jakegint

    Just got out of a benefits mtg at work and my firm is cutting its health insurance to a single offering with a ridiculously high deductible, meaning my family will have to pay thousands of dollars more for health insurance in 2013 than it did previously. Direct result of ObamaCare.

    We got the same news a week ago. What state are you in?

    I am actually okay with this model, except that the idiot Obama wants to get rid of HSA’s that will fund the high deductable’s necessary for these plans.

    He is either a complete moron, or he wants to drive everyone into single payor.

    (I’ll take some from column A and some from column B, thanks.)

    _________

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  5. Super B

    Stay safe Mr. Fly.

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  6. Frog

    Well, if that is true, then it’s one area where I disagree with Obama. I think HSAs are excellent programs. I think people deserve a break in many ways when paying for their health care & health care insurance costs.

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  7. razorsedge

    both reps and dems suck http://www.youtube.com/watch?v=xtgxwXwJots

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  8. ginfizzbear

    I understand that the House of Fly is in Princeton, NJ. I hope that Hoagie Haven on Washington Street is OK.

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  9. Super B

    Fly, do you have gun?

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  10. Mr. Cain Thaler

    Thanks for showing me where the good climate models are, Ottnott.

    I’ll say this at least; thank God there’s something out there that isn’t pure trend analysis and guesswork.

    But I actually read through a good portion of the first paper and it’s not exactly screaming “Hey, our 200 year forecast is super precise and trustworthy”.

    In fact, the entirety of the first paper was explaining divergences between theory and supporting data and trying to improve the forecasts. And the place where the forecasts are least accurate is at the poles where the biggest controversy seems to lie – that was stated in the paper explicitly

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    • Mr. Cain Thaler

      Reply is in the last Fly post

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    • Woodshedder

      Cain, garbage in, garbage out. GISS models are flawed because the input data has been skewed to whatever the political flavor du jour. How many times has GISS changed the historic temperature dataset? How many times have they changed it and not told anyone?
      http://www.americanthinker.com/blog/2012/09/nasas_rubber_ruler.html#ixzz27YZRxqIW
      Let’s talk about the ARGO floats. Temperature data was thrown out because it was “too cold.” http://earthobservatory.nasa.gov/Features/OceanCooling/page3.php

      I could go on and on. NASA’s James Hansen going on record to state that Sandy is the result of Global Warming should be a huge wake-up call to the type of “science” we are dealing with. While on the topic of Hansen and GISS models, go back and look at his models from the 80s and see how well his predictions have worked out. Keep in mind that policy was made based on the prediction of those models.

      Perhaps you would be interested in a very recent paper which shows the medieval warm period and no hockey stick in the 20th Century?
      http://wattsupwiththat.com/2012/10/28/manns-hockey-stick-disappears-and-crus-briffa-helps-make-the-mwp-live-again-by-pointing-out-bias-in-ther-data/

      Anyway, NASA is a politicized organization. The models are only as good as the politicized “scientists” who develop them and the politicized data they input into them. Think of this another way…do you think any space shuttle astronauts would let James Hansen be the lead shuttle engineer? 🙂

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      • OzarkHillbilly

        Just an anecdotal note, but astronomy/cosmology is a hobby/interest of mine and I get out to the occasional conference every now and then and get a chance to talk to guys from NASA and JPL.

        They’d agree with your assessment that NASA is way too political. I’ve gotten the impression that a lot of good science is being left by the wayside because of internal politics and the fragile egos of the peeps in charge whose funding and reputations are dependent on the status quo.

        And by no means is it restricted to the realm of global warming.

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  11. pulse check

    Fly are you still alive? I hope so!

    man Friday, Saturday, Sunday, Monday, Tuesday. 5 days with no trading… it’s terrible!

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  12. tradingmantis

    Stay safe Fly.

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  13. 2sticks

    Some big trees downed here in Pa leaving 15 to 20 foot wide holes in the ground, one tree fell on utility pole and splintered it like a matchstick. Lots of people out shopping today for stuff they don’t need, Target was jammed packed with kids and parents not going to school or work.

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  14. Narwahl

    Sir Fly, which builders do you like to gain the most from this clean up?

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  15. Mr.Partridge

    Computers will crash at market open… too many addicted traders running for their high…
    I have been trading in canada for the past 2 days, silly low volume though with US markets closed..
    Glad to hear you are well Dr….may be silly Mayans were right after all with this shit show…

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  16. buylo

    I think all states hit by Sandy especially Long Island, New jersey, New york, etc. and the folks should immediately refuse any help from FAEMA or other big Obama government agency and insist they want to take advantage of Romney’s plan to have the states individually handle everything! Or, better yet, allow for private enterprise to take care of this mess as only true American entrepreneurs can, i.e., quickly and efficiently and at lowest cost!

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    • JakeGint

      Dipshit… the feds were closed today and yesterday. Send the money, fine, but FEMA? Ridiculous. Read up on their cock ups after Katrina.

      Oh, that’s right. It’s reading that’s a problem isn’t it?

      _____________

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  17. Belly of the Beast
    Belly of the Beast

    Crack spreads dropped big ?

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