I wonder if Fly’s neighbor “Steve” opened up his 401-K statement this month.  Do you think he knows his good neighbor has been “De-Banking” him all year long.  This site is so “GODLY” about now its hard to believe.

What a messed up tape today–I was out all day…I mean there are some names that are just getting Fairy Fucked…..[[SNDK]] –   [[HD]]– I wonder if Guy Adami likes it at these levels?

I could smell fear on Main Street today…. in my community they’ve had gas priced at $3.99 for about a month– isn’t that just adorable keeping it under $4 ..tomorrow we will blow thru that $3.99.  People are starting to get a little scared.  How would you like to be Floor Planning a couple a $$million in SUV’s…. we are going to need some major stimulus to blow those things out.  DRILL DRILL DRILL.   Sounds good to me.

Interesting read here on Bear Stearns …..Thanks  “lol” for posting this weekend

Click here: Web of Debt – The Secret Bailout of JPMorgan: How Insider Trading Looted Bear Stearns and the American Taxpayer

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[youtube:http://www.youtube.com/watch?v=jkN226PToig 450 300]

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Looking at the headlines on all the Web Pages was kind of amusing.  Seeing words and phrases like

Consumption Slumps…Inflation accelerates…7,500 jobs cut at [[BAC]]…..Worst June since “GREAT DEPRESSION”..  [[GM]] 53 year low.  How bout this one from CNBC “Shorting Stocks may be the way to play this market”…… “When will it End”…………Stocks – Plunge, Slid, Fall, Plummet,Tumble.  Bears Maul Stocks. “Shares Hit”..  And my favorite one for the day–

“Market Clown Fucked in Early, Mid and Late Trading”

Best line of the day from Option Addict

“After having been spoon fed copious amounts of wang by mother market yesterday, patience paid off and the favor was returned.”

Heard a great Buffet Quote yesterday from the guys that paid up to have lunch with Warren.  It went something like this with regard to your inner makeup.  “Would you like to be the worst lover in the world but known as the best ” or “Would you rather be the best lover in the world but known as the worst. Good Stuff.

Bought some [[GE]] and [[AXP]] at the close.

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George Carlin 1937-2008….7 words ” We Love You And We Miss You”

[youtube:http://www.youtube.com/watch?v=3M5Xm5RYTRY&feature=related 450 300]

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[youtube:http://www.youtube.com/watch?v=CEhk5N32Tec 450 300]

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GW is a smart dude……he’s been calling himself The Green Writer since he started posting….

Look I get the “Green Thing” just as much as the next person but is this “GREEN MACHINE” getting out of control or what.  I’m sure there will be a GREEN FLAG and a GREEN LOGO pendandt for the greenest candiate to wear on his lapel.  Hang on because we are in for a major shift in this country…..the Candiate who shits the GREENEST is going to win this election.  Last night my wife is watching the Planet Green TV!!!  Ok I’m going to be positve.

Click here: Planet Green : Sustainable Living, Energy Conservation, Earth Day

Watching an energy crisis unfold for a second time in my life really makes me question the leadership of this country for the last 30 years.   This country is so ready: to be told where to set the A/C– told to Drive 55…..told what to Drive……when to water your yard……short showers.  The Green Machine Police– will be there to help you along the way.   So I’m not worried about Oil to $200– I say its going down I’m going to say about $75 -$80…

My broker called me today wants me to buy [[GE]] not a bad Idea………[[KO]] not a bad idea…..[[AXP]] not a bad idea– if it’s good enough for Howard’s kids it got to be good enough for me.

How bout [[GM]] maybe a nibble— they employ 266,000… with a market cap of 7 Billion….Bill Gates could buy that as a science project.    OTB Play— [[SNDK]]

Look for the USA to rally into the Olympics.  This is going to be a big deal.

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Great letter to the editor in the Business Section of the KC Star today.  Also a few charts that were interesting from a poster at Big Picture.

Have a great weekend….

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I’m going to forecast the future for you. It’s what I did last September for the president of the Federal Reserve Bank of Kansas City when interest rates were lowered.

Webster’s says inflation is “an increase in the volume of money and credit relative to available goods resulting in a substantial and continuing rise in the general price levels.”

The Federal Reserve began lowering interest rates while at the same time it began bailing out Wall Street billionaires by pumping in hundreds of billions of dollars that really didn’t exist at the expense of the middle class.

What is going on now is the same thing Alan Greenspan did in an attempt to manipulate the economy. Lowering interest rates led to a subsequent rise in home values, and the bubble was created. Then it broke.

Now we are making the same mistake all over again, causing a bubble in prices. We are trying to control recession and are causing inflation, and this bubble will burst, too. It will cause depression, and when that happens and people get hungry, what will they say? Let them eat cake?

We did not learn from our mistake of lowering the interest rates and causing the housing bubble. When one makes the same mistake over and over again, it is called stupidity. With depression, there is widespread unemployment and people get hungry. We don’t have a risk of recession. We have a risk of runaway inflation followed by depression.

This rebate isn’t going to help anything. It’s like putting a bit of sugar in a crying, hungry baby’s mouth. . It’s fuel for inflation. It’s money that doesn’t exist. It’s just one more nail in the economy’s coffin.

Everything that has been done since last September is an attempt to help the extremely rich at the expense of the middle class. They give credit cards to anyone and charge 25 percent interest. Those who don’t pay are covered by the substantial, bill-paying middle class. —Dennis L. Maloney Prairie Village

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They Didn’t tell us it was the first game of a best of 7 series.

* When they parade guys down Wall Street it just never feels bullish and then you have Dick Bove and Kass and these jag offs out there pumping this shit. 

 I would love to see the burnt toast lizard get his ass hauled out of Miami Beach swimming Pool.   What a joke nobody knows what any of these assests are worth… I guess its worth what it will sell for.  

Federal agents exit 26 Federal Plaza with handcuffed former Bear Stearns hedge fund manager Matthew Tannin, Thursday, June 19, 2008, in New York. Indictments will be handed down on Tannin and ex-manager Ralph Cioffi, both accused of securities fraud in the wake of the collapse of the subprime mortgage market which foreshadowed Bear Stearns’ own demise. (AP Photo/ Louis Lanzano)

This is messed up

Somebody got a deal?
Right on. Actually, a lot of somebodies seem to have spent a lot less money on the individual cars they bought. And for its part, CarMax made less profit on the sales. The key culprit in this dynamic appears to be gas-hogging pickups and SUVs. According to CEO Tom Folliard, “wholesale industry prices for SUVs and trucks declined nearly 25%, which is approximately four times the normal depreciation expected over this period … [and] the most rapid depreciation of any vehicle segment that we have experienced in our 15 years.

Isn’t this just great now were upside down on the house and the car…but the good news is your rate  is going up and Fuel is going up. 

[youtube:http://www.youtube.com/watch?v=x1dtP5dBHdo 450 300]

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