I have accepted the stupidity of America. You all know I have been a major hater of the banks. I dislike the CEO’s of our banks as if they were responsible for making my appendix burst. However, I knew, given the situation, the market would crater, without government assistance.
I understand the philosophical and moral opposition to the bailout. Why bail out Wall Street fat cats? Hell, we have gotten too lazy and decadent. It’s time to prepare for some great depression type era.
All of that resonates with my inner evil. But, it’s entirely nonsensical, if you actually take a minute to think about the repercussions.
Your banks will close and never reopen. Jp Morgan and Bank of America will not be able to buy every bullshit bank. The Fed and FDIC will fold tent and reopen as a popsicle stand. Your (low end) job is in jeopardy. Actually, your fucking grocery stores will shut down.
Many of you say “this was going to happen with or without the bailout, so let it burn.” Yeah, that might be true. Actually, I know it is. However, what the fuck are we retarded idiots? If we know what the problem is, the least we can do is try to resolve it. Apparently, our ballot box fuckers thought we needed a little tough medicine. They say: “this is the normal business cycle.”
Oh really?
Tell me how this “normal business cycle” feels when your fucking farm is seized by creditors and your local Mcdonalds shuts the fuck down, due to a credit line explosion.
This is irresponsibility on an epic level. I will now embrace it.
As for my portfolio:
I reduced my risk to nil. I took tremendous losses today, which is doubly sickening since I have been calling for this exact scenario for more than a year. At the present, I have equal shorts to longs. Therefore, I cannot “enjoy” another down 10% afternoon.
So, in closing, today’s market decline cost the “american (idiot) taxpayer” $1.4 trillion in capital destruction. Let me see, $700 billion is less than $1.4 trillion, right?
The good news: we’re not done yet. Should the BBQ eating idiots from “Main Street” continue to dominate policy, this market is going to 8,000 Dow, faster than Bob Steele golden parachutes the fuck out of this bullshit country.
Get ready for deflationary pain.
UPDATE: Looking around the wonderful world of internet blogs, most right wing sites are against the bailout, mainly because they are idiots. Liberals are always down for a little government intervention; so they are worthless. One guy is going against his audience, in support of some bailout fun.
Unfortunately, not everyone understands the ramifications. Again, they are idiots.
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oh god, i’m waiting for a bounce, then sell!
Hey, glad to see you’re up and alert.
How did this trick-fuckery get passed today?
_
Echo that. Well said. People have no idea what is happening until 12 tons of bricks come crashing down on their bullshit umbrella policies.
The worst thing is this: Slope of Dopes banked SARIOUS coin today.
__
http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html
Yes, but it’s $1.4 Trillion of bullshit “value” (that “Main Street” isn’t participating in by and large) rather than $700 Billion that comes straight out of “Joey-bag-o-miminum-wage-and-Coors-Light”‘s taxpaying pocket.
Or something. Right.
The Government has managed to screw just about everybody. They killed shorts by banning short sales and jawboning markets around, and they just killed longs by voting down the “FAILout” and removing all bids from the market (no shorts, remember?). Wall Street, Main Street, Easy Street, the Arab Street and Sesame Street–they are all on fire. The one consolation I have is the thought that more people lost money today than I will ever meet. Including douchebag coworkers that talked up their extra 8% they earned over me last year by being long stocks. How’s that working for you? Buy and Holders: WHERE IS YOUR GOD NOW!?! So with their wealth implosion, and my sitting in cash, I effectively debanked them to the tune of 30% so far this year. Gotta take the wins where you can get ’em.
I think they should mandate every CEO work for minimum wage for a year, and donate all other compensation to a bailout fund, or go to Leavenworth. THAT would satisfy the bloodlust of the proletariat!
In other news, Steve looked like he needed a fucking wheelchair today.
Main Street doesn’t pay for shit. We are a debtor nation. The money would come from Japan/China.
I insist: Main Street people are not sophisticated enough to fix this problem. They barely can get through a hamburger and french fries dinner, without spilling ketchup on their Union shirt.
1: Give $700 billion to the Wall Street and banking bozos who got us into this mess.
2: ???
3: Happy days are here again.
You want to convince Main Street that the $700 billion is for their own good? Create new banks and capitalize them with $350 billion in taxpayer dollars combined with $350 in private equity. Lend away to good credit risks. Use the remains of the old Wall Street and the foolish banks to fertilize soccer fields. If an existing bank has maintained good lending practices over the past 5 years, let it in on the deal. Pull the taxpayer money out gradually beginning in 5 years.
Ott:
What you ask for is impossible. You cannot start new banks. Who’s going to run them, Congressional assclowns?
And, for all of the hating of “Fat Cats,” who do you think is benefiting from this? Skinny cats?
I think not. The big banks are getting bigger, while the local bank falls by the wayside.
Was Steve blowing through a straw to change directions?
___
In case you don’t read John Mauldin, he’s pretty good. He’s no Fly or anything, but still.
Here he seems to outline a plan that includes elements of Alpha’s cost accounting idea and I think some of what Dogwood was talking about:
http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2008/09/29/haste-makes-waste.aspx
The local banks are fine, Fly.
Do a “phone check.”
_______
Fuck Main Street & Fuck Wall Street.
I’m gonna go have some sex, shit I may even produce RC jr tonight. I got to take my mind of this shit.
Oh really?
Get back to me on that in 3 weeks. This has just begun.
All of your local banks will fold.
FITB, NCC, SOV, DSL, FED, etc.
All of them.
Fly I can feel your pain as like you I was short all year until I got shaken out by the false bailout rally a week and a 1/2 ago. I try to do the “Fly Special” and play the rally only to get my hand burned.
It was enjoyable this afternoon to do the math on all the financial shorts that I sold at inlated prices 7 days ago when congress was going to fix everything and see what could have been.
What is that saying….sometimes the best thing to do is nothing. To top it off my wife who doesnt follow the market at all recommended that we stay the course 7 days ago. No moral of this story….just lost $
Thanks for sharing, RC.
Try it with a partner. Preferably a girl.
It is waaaay better like that.
I just had to say, this site make me laugh out loud!
Thanks for the great writing. 🙂
The futures are up 6.00 right now. If it can hold that, at least you can wake up tomorrow morning and listen to Mark Haines and Erin point that out and tell everyone, “Hey, the futures are up, it looks like rally time!”
Jake,
Small town midwest banks are probably pretty healthy.
A banker friend of mine with 14 branches in 8 small midwestern towns said no subprime, no Alt-A loans—-ever.
It’s their way, their culture of doing business.
Every capitalist should live in small town America at least once in their life, he says.
Bidness still done the old fashioned way.
You cannot start new banks
Did someone lose the recipe?
….however, the whole financial system is in trouble, so even small town banks will be affected.
Fly,
What happened to your “I have seen the future and it has higher stock prices in it” banner you just started using?
Why did you take it down? Was the fly wrong? I hope not because I went long up the rear when you did.
We are still going up, right?
Fly, take a chill pill. The world of banks is not just publicly traded dogs you’ve mentioned.
There are over 9,000 of them.
_____________
RC — I’m shedding a tear here, knowing that I may be “the first to know” — even before Mrs. RC does! ROFL!
I’m gonna go have some sex, shit I may even produce RC jr tonight. I got to take my mind of this shit.
That’s gonna be one neurotic kid!
_
Alpha:
Read up on Great Depression bank failures. It does not matter if the Mid-west idiots resisted the sub slime. Soon, the fucking farms will collapse. You do realize those farming assholes are levered out to their scarecrows, right?
Deflation is ape rape the mid-west. Say goodbye to the concept of “bank.”
Take all of your money out and buy a tank.
My local banks keep their mortgages. My local banks never lowered their lending standards. My local banks are doing quite well lending to traditional borrowers, including the local small business owners that create most of the jobs in this country.
You may be right Fly, but based upon the conversations I’ve had with the locals, they’re doing just fine.
Maybe that will change in a few weeks, but you need to consider how well they are doing now and realize that Congress Critters are calling these same types of people in their districts to gauge local conditions before voting on this stuff.
There are thousands of community banks out here that never got sucked into the high-risk, high-reward games that are causing today’s heartburn. The big money center banks may be going under, but the community banks have always been a conservative lot.
I didn’t even notice his new banner until I scrolled up! LMFAO! Another Fly classic!!!
Ummm, no. We’re not going higher anymore. I do reserve the right to change my mind, if that’s ok with you.
Ott:
Banks are started by venture capitalists. Last I checked, they have no money.
Dog:
They are doing fine, as of now.
But, use the whole decoupling idea as a guideline. There is no such thing as financial bifurcation.
Unemployment will rise. Municipalities will default. Hospitals will default. Local banks will get ape raped.
You cannot start new banks
Did someone lose the recipe?
Didn’t Lindzon just start a new bank in Arizona with some investors?
Plenty of money in the world, Fly, and plenty of it would pour into new bank ventures that were stamped with the “Rock Solid Assets” seal of approval.
If, as you say, the old banking industry would drown in its own shit, a new bank would look like a pretty good opportunity.
Okay , you win.
New banks are springing up everywhere. So sorry for writing obvious lies.
Private Equity still has a ton of cash.
Feds just need to let them use it on banks.
My local venture fund just raised another $200 mm last week.
_________
Hey, remember in the good ol’ days when Wachovia was going to buy Morgan Stanley? Yeah,..oops. That wasn’t very long ago. Nevermind.
Fly, I’ve told you time and time again about that “obvious lies,” thing.
Please attempt to make them more subtle in future.
________________
Actually, there is so much money on the sidelines waiting to open new banks. All we have to do is wait for UBS, GS, MS, RBS and a slew of others to go bankrupt, then those big money players will step in.
I am sure of it now.
No big deal.
We’re only talking about another 10 trillion in losses. We can swing that during afternoon.
Dawg,
I’ve still got MS puts.
Heh.
_______
Private Equity DOES NOT have as much cash as you think.
We are talking old blue blood money washing away in a few short hours. That type of capital cannot be replaced by a few jerkoffs at JC Flowers.
Fly,
Why would all of those go bankrupt? Surely a cynical guy like yourself, well accustomed to pushing blind beggars down manholes has noticed the bit of “wink & nod” being pulled by the Fed here for various “friends,” like JPM, Schitti, and BAC?
____________
Texas Tea had a blow up. I’ve got guys with money burning a hole in their hands for six months now.
__
You get new banks once they know they don’t have to play two-on-one against the Fed and a competing bank.
Everyone is forgetting one thing. This bailout business isn’t dead and over with yet. In it’s present form it isn’t approved of. In time it will be approved, just not right now.
Jake,
your bearishness is only exceeded by your wordsmithing. Tally ho, good man!
I too got shaked out with that head fake bailout shit a week ago. I lost 50K on SKF and SDS. I got so pissed – then i hear the shit that the good old gov’t is riding in to save everyones ass, so I bailed and went to T-bills. After all – Fly is now long. I just couldn’t stand losing any more money.
Really, today was the perfect fuck of all time. Everyone was expecting a bailout rally, no one could get short financials, SKF is not working right frustrating the SKFers, Fly is long, no one would have guessed that the a-holes in washington would actually listen to the people that elected them, I mean – WTF.
I honestly watched my screens as everything went to shit – and kept thinking that somehow, there was going to be a big reversal before the close. Where was the PPT? Did they loose their mojo? Seems like they are out of bullets, no?
Anton,
Thanks for the link. Interesting stuff.
Ott:
The point is: the government will have to fork up 5 times 700 billion, once the current system fails. We will end up with new banks: true. But, it will be a long time from now and lots of pain to endure.
My “new bank” plan isn’t even my #1 plan. Plan A is to raise $200 billion by charging Main Streeters $20 a swing to go after Wall Streeter groins with a tennis racket. Many benefits:
–makes Main Street happy
–less cost to taxpayers
–pain felt most directly by those who benefitted from the credit bubble
I’m late for dinner. Bye, all.
Would have had a good day in the market (SRS, SKF) if it weren’t for a big pile of AAPL.
Hoping for a better tomorrow for everyone.
Internets Justice?
Is that like Social Justice?
You’re not going all “Community Organizer” on us are ya Fly?
Before I go – Anonymous is right. There will be a bailout. No question whatsoever. Everyone here should be cheering for a plunge, so they can climb aboard.
Fly,
Of course you can change your mind. It’s just that between you and Cramer I am getting very dizzy.
Anyhow, I am pulling for you!!!
Yes. I am now a militia leader, with a large tank in the front of my house.
Should you see 100-200 heavily armed stock brokers looking for Congressmen in your town, you will know “The Fly” is in town.
Strapper:
I got it wrong. It won’t happen again. For as long as I live.
Careful, my Congressman voted for the bailout, so you probably want to keep him around for awhile.
Fly, you’re right that “Main Street” pays for nothing in this country. Hell, I make ~ $77k annually in my piker day-job. Know what my federal tax bill was last year after charitable deductions, personal exemptions, home loan interest, child tax credits, etc. etc.?
$150.
Back in college when I was poor, the Govt. would send me all my withholdings AND a check for $3000! Anyone making less than $50k pays no taxes in this country. Don’t believe a word of the “tax cuts for the rich” bullshit.
Via the homeless man outside the liquor store, five minutes ago: “I don’t want yo’ fuckin’ dolla’. I blow my nose with that shit. I don’t want yo’ hundred dolla’ bill. That shit’s useless.” True story.
Bailout coming, but it won’t matter. System is broken, malfunctioning. It will take time and patience. More than we think. Keep an eye on the consumer. He accounts for 71% of GDP.
Bank bailout? Hmmmm…So now, banks are able and all happy to lend again to Joe-asshat-consumer. Wash, rinse, repeat?
learn from the past. to dwell in the past is a waste of spirit. you will be wrong again, so what. its the comeback thats important.
Fly is totally correct. We are fucked.
Credit markets are pooched.
Where is Merlin when you need him?
Don’t y’all get yer panties in a twist … when the meat of end times is here, we’ll all be pining for down 10% days on major indices. This ain’t nuttin but an appeteaser for whats in store. Unfortunately.
Put it all in perspective. Things can get A LOT worse! before they get better, if you’re around to enjoy it by then.
Warning; Real time machine in use for these prophecies/predictions
http://theyfly.com/newsflash95/Updated_Earthquake_Tsunami_Ver2.pdf
Honestly, the completely fucktarded near-sighted bullshit of 95% of America makes me want to stick my head in the oven. A few assholes say “I pay my credit card on time, so let the world burn” and they actually believe that this mess can resolve itself without affecting them. All of you can go fuck yourselves.
*Poof* You bearshitter sell-off is officially over (not really).
Put you dick in a vise. Twist. Turn. Yell like a banshee. Repeat until you pass out.
Good times ahead.
Fly is correct. We need a government that is able and willing to assist our country in actually maintaining a functioning financial system. I wouldn’t even want to try to live without a functioning banking and financial system, even though I have excellent bartering skills. If half the system goes down, I sincerely doubt the other half is going to be “just fine”, they’re not in a sterilized bubble.
Bush speaking at 8:45 am tomorrow … you have to figure they’re working on something, anything to announce tomorrow before the markets open, rate cut, emergency regulations, something.
Funny, the NYC assclowns keep trying to scare me but they just ain’t gittin’ ‘er dun. Try harder, after teh tehrist bs and the patriot act bs and the wmd bs I just don’t care what happens. I think that the PTB is full of runny crap like your busted appendix was a few weeks ago.
My McDonalds is now a McCafe so they are doing great. Not worried about them shutting down at all.
Fly,
In addition to Ace, I’m another right wing blogger willing to support the bailout. However, I am asking for one thing for my support. Heads on a platter. I want the asswipes in Congress to admit their culpability and to acknowledge that turning credit into a civil right contributed to this mess. I want CEO’s, CFO’s and other execs who gamed the system in order to steal bonuses to forfeit the bonuses and to face jail time. F-m.
“I reduced my risk to nil. I took tremendous losses today, which is doubly sickening since I have been calling for this exact scenario for more than a year.”
I’m really really sorry to hear that, Fly. I know your online persona is a bit abrasive but you don’t deserve this. After all, you have been calling this bear market for a long time. But all is not lost – I expect the DJI to drop to 9800 minimum and probably all the way to below 8000 before there will be a respectable retracement. So, take your losses for what they are – a temporary setup. The FLY WILL BE BACK.
Hey, uh, look ‘merica. We started off just fine, you an’ me, but lately this has been like a bad date that just won’t end. Like a hayride to nowhere with a fat chick and flat beer.
An’ I know we’ve all been there.
Pacifically, I’m talkin’ about how you don’t respect me no more. Like when I was a kid an’ Daddy used to say, “Bar’ I think this one’s a retard.” An’ Jeb would just laugh an’ wouldn’t help me off with my helmut.
Well, look who’s laughing inappropriately now, Jeb.
But I digest. What I am trying to articuhlate to you is that I think it is time for me to hang up my spurs as your president and ride off into the sunset, like a magnificent rodeo clown. I has determinated that the only idea I can cogitate to preserve my legacy is to call in sick for the last few days of my term and hand over the reigns of this great battleship I call “‘Merica” to the one person I know will make me look like a breath of fresh air in a chili cookoff by comparison.
Ladies and gentlemints, say hello to my little friend:
Heh-heh.
Hello, haters.
It’s mourning in America,
You can’t fool Mother Market…Look the bill will be passed on Friday morning after some serious shit. Markets will chill for the next 48 hours during the Jewish New Year.
Had a good conversation with a childhood friend…He is the youngest of a very well to do old family (Bilderberg Type Money) …told me he remembers his parents telling him about the Depression at the dinner table..he grew up with middle class values…ate dinner at the local diner..had flank steak every now and then..patched their own jeans etc… etc…–now we have every “Who Shot John” drinking $15 martinis and eating Ribeye nightly… not that there is anything wrong with it.. but they are doing it on credit.
Why do you think egregious is such a great word. It describes us.
Fly
They’re going to pass he bill later this week. On second thoughts it would be a good intellectual exercise in watching Main Street jaw drop if they don’t pass it and they’re fucked. It would be good to watch.
Send a bill to Mish. He’s been blogging nonstop about the need for his readers to call up their congress reps and urge them to vote against the bailout. As much as I liked reading his blog until now, I hate him now.
Fly, long ago you had Herb “The Bearshitter” in your blogroll. Maybe it’s time to update Mish’s place with the link title set to Mish “The Assclown”
holy crap…WTF…i lost 100 bucks…A HUNDRED BUCKS..ouch
Let ’em all fail! The free market regulates itself!
I can buy one share of GM and get your $1.4T back. It’s all bullshit. The bailout is bullshit. You broke it, you bought it.
If you want to know why more Republicans didn’t support the bailout bill today, then you need to listen to this interview with Karl Rove.
Love him or hate him, Rove knows his stuff.
His comments confirm what I said in a comment in another thread, Pelosi is using the bailout bill for election purposes. Fixing serious financial problems is a secondary concern, not her primary concern.
It’s all the dems fault! If only the republicans had control of the legislature and executive branches over the last few years none of this would’ve ever happ…wait….
how the fuck did we let this happen?
cramer says its gonna be ok, not to worry..so maybe I have a chance to get my HUMDRED BUCKS back in the next few days..go cramer go
What’s everyone complaining about? We are down 29% from Oct. 07 high and i’ll have you know the average bear market is normally down 30%!
Heart attack!!! I missed the crash I saw coming because I got short squeezed on the BS short ban…. My heart!!! AHHH it hurts!!! goodbye world!! Before I go, my final advice… buy puts on my ass, it’s going down..
cough cough
flatline.
Fly – you were very kind to me at the beginning of the year when BOOM attacked me with a vicious case of surprise buttsecks. I’d like to remind me of what you told me (paraphrased):
“The amazing thing about life is that it continues to provide new opportunities to build wealth. You will live to fight another day.”
I know you probably don’t care to hear from an interwebs leech piker like me, but I know you will regroup, refocus, and strike on new opportunities. You are a winner, and therefore you will do what winners do: win. So hey, I’m rooting for you in Nashvegas.
Lastly, I think you are right. Things are going to get worse.
I believe the credit lockup is so serious that unrepairable damage has been done to many businesses. This damage may not be visible in coming hours and days, but just wait until next earnings season. The cracks will emerge then.
I’m looking forward to seeing how you rebound from today, and look forward to hearing about your future “full retardo” sized wins.
nevermind
http://www.youtube.com/watch?v=1yoBTPYDxdc
I interviewed my Grandpa about the great depression for some school project before he died. Got lots of notes on what it was like… Wish I still had those notes.
http://www.youtube.com/watch?v=biP2JOf5euo
Fly – get over it. If you were running for office, you would listen to the voters too.
Not everyone has a day job calling people a$$hats, and telling people to fuck off.
Take a chill pill and welcome to the really world of CQPolitics.com.
Should you see 100-200 heavily armed stock brokers looking for Congressmen in your town, you will know “The Fly” is in town.
Take my Congressman… Please?
___
The dirtbag Pelosi fucked up the vote. She allowed 16 vulnerable dems and 5 committee chairman to vote no. You also had a senior Dem going on radio and trying to roast the GOP before the vote.
No wonder the vote didn’t go through when you have that stupid piece of shit, Pelosi as speaker of the house.
There is plenty of blame to go around. But the fucking sea hag House Speaker knew damn well this thing wasn’t going to pass. She TOLD many House Dumbocrats NOT to vote for the bill. Then proceeded to skull fuck the Repubs for “not doing enough”. Of all people, the Dumbocrats should be voting for this thing; they’re fucking Communists for God’s sake! These asshats are playing political grab-ass with the economy of this country. I don’t give 2 shits about what the constituents say. As Fly has so eloquently pointed out; THE AVERAGE AMERICAN IS FUCKING BRAINDEAD! The dipshits have all of the information, and they fiddled while Rome burns. We are witnessing the political destruction of our nation. When I jack a dune buggy after the nation turns to a dustbin, I plan to visit Pelosi personally; Mad Fucking Max style…
The Dems are the majority party in the house, people should be asking that old crow bar, Pelosi why she couldn’t get her own party to turn it into a yes vote.
What a piece of shit that woman is.
Hey Boca, speak for yo’self, woman!
__
So Fly, What are some of your holdings you’ve got to balance things out. I am guessing SRS and SKF and a few of the commodities you were averaging down with? A balanced port sounds good right now.
I’m chopping interest rates down to 0 tommorrow emergency I’m going to karati chop that shit, and print MORE money… If you’re not having a bailout to save the banks, I’m giving away money, monopoly style anyways
National emergency…. In order to preserve our wealth, I’m going to bomb the shit ou of Iran and everyone else… Actually, Bush might cancel the election and go on a nuking world domination tirade that will end in death.
Hey Boy, go fuck yourself.
“Sea Hag” Pelosi.
Oh.
That’s excellent.
Thundering here.
__
Hey Boy, go fuck yourself.
__
Why you cruel bastard!
AS IF I HAVE ANY CHOICE, OVAH HEAH??
_
“We could have gotten
there today had it not been
for the partisan speech
that the speaker gave on
the floor of the House.”
Rep. John Boehner,
House GOP leader
Granted, if the sea hag’s oratory persuaded anyone not to vote for the bill, my 3 year old son should replace them in the House. Nevertheless, this vindictive bitch is a cancer on this nation.
I’m beginning to think though the bill will get passed and this is the capitulation trade up.
Money supply measured through the monetary base has expanded at a pretty furious clip in the past few weeks. It rose around $76 billion and at that rate the printing press is running 24/7.
It’s all the dems fault!
If you want to understand why specific legislation passed or didn’t pass, then you need to understand the internal dynamics that are driving the decision making process.
First, set aside your personal views and partisanship. Then, put yourself in the shoes of a Congressman running for reelection being asked to vote for a bill even though constituent calls are running 50 to 1 or 100 to 1 against the bill.
In addition, the leader of the majority party is demanding that more members of your party need to vote for the bill if it is going to pass. Meanwhile, that same person is giving vulnerable members of her own party, including members of leadership, a pass on the vote because she intends to use yes votes against vulnerable incumbents, i.e. you.
As I said last week, if you want a bipartisan vote, then you need a bipartisan bill. The entire bailout process has not been bipartisan, rather it has been deliberately partisan because House and Senate leadership want to use the bailout as an election-year club against their opponents.
Depression??…You clowns couldn’t go 2 days without the ESPN2 network,how are you going to manage living off crab apples and tap water?
I’m glad it didn’t pass. The joos will take tomorrow off so that’s good too.
In the end the pain will be MUCH worse, we don’t want to be Japan or bring back the 70s.
Recession is natural, depression is the result of SHOULD be recessions delayed again and again. When you clean it out we can start over, and america can again become the greatest country yet again.
Oh, and don’t forget, the Sea Hag is reconvening on THURSDAY.
Buy China!
You clowns couldn’t go 2 days without the ESPN2 network,how are you going to manage living off crab apples and tap water?
Don’t know about the rest of the people in these parts, but I kill my own food every fall, so no worries here.
Emu, anyone?
Emu? Only if you catch it for me!
Yeah, the shooting part is easy.
It’s the catching part, before the shooting, where it gets interesting!
get angry and say something….
We need to legalize marijuana and have government regulate it… that means more revenue, and also lower crime which means cuts in state and federal police, and more
We need to think about making fireworks legal.
We definately need to make online poker playing regulated and legal.
I don’t personally like regulation, but we gotta do something to get the money flowing if we want prosperity, otherwise, the money just flows overseas to black markets anyways, and money to fight those black markets, that is wasted.
I’m a witness– bark is very tasty.
But one fucking bitch to sterilize, let me tell you.
_
A USA Today poll found that nearly 1/3 of Americans believe we’re CURRENTLY in a depression. And over half are against the bill. What the fuck? This is why these dipshits in Congress need to pass this thing in spite of what the constituents are telling them. Get this straight; the AVERAGE AMERICAN DOESN’T UNDERSTAND HOW TO BALANCE A CHECKBOOK. I, like Fly, have no faith in them. Clean the septic tank connected to my shitter- fine. Give binding “advice” to those who are more informed- not so much…
it’s a shame that the average american is retarded, and dim enough to fall for the “pitch” of the salesman in congressman clothing.
it’s a boy!
j/j
Anyone think we get a surprise bill passage tomorrow?
And everyone eats a ham sandwich, served by that goomba from Arkansas?
its a bull shit market based on those that save {over seas economies} and have the extra to support a “market” and those that spend the fuck, multiply the crap out of, end of month cash, FUCH THOSE non savers…..
In the end, forgien money will never again support.
Liers poker!
In college many moons ago, i could last a week with one jar of peanut butter, a jar of jelly and a loaf of bread. I guess i could do it again, if i had to. Oh wait, i also had a ton of pot and some really hot naked girls to take my mind off being poor… oh well – i’ll just shoot myself…
Junk Spread:
I blame the education system. Most kids from public ed come out moronic. Walk into an American high school with an IQ of 130 and walk out with 98.
There was a great movie called Idiocracy(?) that explains it all.
J.
There should be no public “education system”. It’s gay. And I don’t recall seeing it in the copy of the Constitution I’m currently gazing at on my wall. That’s what you get when the guvment runs the system; no accountability. Furthermore, I have to pay double. I pay to send my kids to a private school (so they have some semblence of knowledge when the graduate) and then I pay for the asshole down the street’s kid to go to the public “school” where the “teachers” barely graduated from JUCO. Nice system. Complete and utter asshattery.
Yes. Idiocracy is it in a nutshell. “Go away; ‘batin.”
I warned you all of this “White Squall” before Fly did and you all riduceled me. Fly is completely nonsensical in terms of the long term ramifications. The fact that he is net long is placating with his rational brain telemetry. You need to undertand that this bail out plan was a long term jourmey into the abyss for the majority of americans. If we can somehow keep this bail out plan from passing in its general from, we will rebuild without the greed that Fly and the rest of Wall Streey have been hooked on.. They are all crack whores!! Fuck you Fly for backing this deal!! Cocksucker!! I never thought you would do such a thing!! Wake up!!!
Idiocracy
here’s the trailer. I going to rent it again. Seriously this is like in that movie.
http://www.youtube.com/watch?v=L0yQunhOaU0&eurl=http://video.google.com.au/videosearch?q=idiocracy&ie=UTF-8&oe=utf-8&rls=org.mozilla:en-US:official&clie
Damn Sierra. No one ever said you were wrong about the white squall. Good to hear from you though. You kind of went crazy on the Fly.
Look – the average idiot out there is, well, your friend, co-worker, mom, sister, whatever. Don’t think that you are so smart and the rest of the world is retarded. People have had ENOUGH bullshit slammed thrown at them for too long. Now they say, “FUCK YOU” and feel good about it. Think back to an experience where you saw no hope, knew you would face some pain, but defiantly said “FUCK YOU” to a cop, a teacher, or the neighborhood bully that constantly kicked you ass in.
People just want to feel good for a day or two, before they loose everything. What is so hard to understand?
blaze it up bitches!
http://www.youtube.com/watch?v=G-hU9tCk8YE
http://www.youtube.com/watch?v=mBFB0PVv1Y4
Sierra,
You are an asshat. You do realize that your job managing that Jack-In-The-Box is in jeopardy, right? When you’re boss can’t make payroll, you won’t have the money to buy your baseball cards this week. It will be painful for you. Now, use some common sense. No one WANTS to have to pass this bill. God knows, I, myself, a filthy capitalist pig, would love for everyone who took the risk to bear the pain. But the problem is, to let the whole system burn down is “cutting off your dick, to spite your FUPA”. It’s nonsensical. I, for one, would like to continue to eat the delicious hamburgers you serve up warm and juicy. So please, excuse yourself from your asshattery, put down your G.I. Joe with the kung-fu grip, and get behind this fucking bill.
What’s up,
So you’re excusing idiocy. Fuck em. How can they feel good when their 401’s are getting trashed? You’re asking people to align themselves with stupidity. Sorry dude, doesn’t work like that.
What’s up. Please refer to the rebukation I gave Sierra and apply it to yourself.
Right on, J. Finally some uncommon knowledge brought to bear.
I see Kudlow just bought a nice round lot of RIMM. NAZ futures up 15.
Junk Spread, Sierra Water is a capitalist. He owns his own business. There was a time, over a year ago, when he was killing the market. Then, he quit and started preparing for the White Squall. If he did everything he said he was gonna do, believe me, he’s banking massive coin.
J –
i am not excusing stupidity – just explaining it. It’s simple – most people think that they are hosed either way. They lost confidence long ago. They don’t care. so they say FUCK YOU.
I just understand that this has been a process over many years. People have been lied to for so long, they just don’t care. That is what i perceive, anyway.
Talk to folks, don’t just force your ideas on them. You will see where the “average Joe” is coming from.
I personally want things to be as they were… just don’t think that is possible.
I’m not doubting he banked massive coin. I’m trying to point out the lunacy of his position. If you don’t believe me, just ask Kudlow. He’ll tell you. Even that bottom calling fool Vince Farrell knows it has to be done. I’d love for the whole damn thing to fall down just like Sierra wants, but as I said, I’m not into cutting my own throat just so I can prove that I’m right. I’d rather the kindly old man who shines my Bruno Magli’s doesn’t have to subsist on locusts and what he can glean from the bottom of a Cheese Whiz can. Call me compassionate, but he doesn’t deserve what’s about to befall him.
Junk, its all good. I know Sierra won’t be back to defend himself.
Everything old is new again:
http://www.huffingtonpost.com/peter-dreier/the-bush-bail-out—-we-h_b_128731.html
Paragraph 4 relates to the M1 chart … Lots of room for money growth from the current position hence gold may be a victim of deflation near term rather than the hyperinflation hedge everyone is seeking longer term:
http://www.financialsense.com/Market/wrapup.htm
im jaming to chubby checker pounding boiler’s. The sun will rise, so will I
Disclaimer: That’s right Jake, it’s a left wing pinko commie website but it provides a good synopsis of the debachal and ironically depicts how parallel Bush I and Bush II were when it comes to banking.
Disclaimer: That’s right Jake, it’s a left wing pinko commie website but it provides a good synopsis of the debachal and ironically depicts how parallel Bush I and Bush II were when it comes to banking.
Not my opinion … just FYI stuff … get it?
A few things:
Thanks to the human beings on this thread that sent their condolences to me. Fuck all of you aliens, particularly illegal types.
Remember, when I die, I want to be buried in a pineapple coffin. I am dead fucking serious about it.
If the GOP is so childish that they punished the country because Pelosi said mean stuff to them, they can cradle my balls. I will stop giving money to them. And, to boot, I will vote democrat, across the board.
I vote for MY interests, not for some idiot eating a bagel at his local OTB. The dems had like double the GOP votes. Don’t blame them.
Lastly, I know who you are Largebill. Good to see you are still around. You are probably my oldest reader, not in age, but longevity.
Reliable Investment Management Inc seemed to be doing great during these stressful times focusing on high yield mid caps
http://www.nbc.com/Saturday_Night_Live/video/clips/reliable-investments/698621/
Wood, the reason I don’t defend myself most of the time is because I have two daughters and am running a manufacturing business that takes a lot of my time. I post and then bail.. I will try harder to look at responses in the future but I don’t think anyone here is going to change my mind. I respect you, fly and others.. you should know that given the history. I just feel Fly is 100% wrong on this deal and is misrepresenting the facts. This bail out is toxic and does nothing to solve the underlying problem.. You can not throw good tax payer money at a system that is outright flawed.. There is 53 trillion in CDS floating approx 1000 trillion in otc derivatives.. Get fucking real people.. stop the insanity… The leverage needs to be reined in immediately and we need complete tranparency of level 3 assets so the public can regain confidence. there are two banks in the IK at 50-1 plus.. stop supporting a system that breeds fraud and misinformation.. Fly you know what I’m talking about.. Enough is enough.. Take one for the team.. You built this community and you need to tell them like it is.. I love everyone here even if you hate me.. The truth shall set everybody free. Lets all start over and deal with the deep recession or depression that we all deserve..
-Sierra
Oh, Sierra Water:
May a twister touch down on your bullshit trailer park and “merc” all of your subprime renters.
I don’t dislike you Sierra. You are old school around here.
I agree with everything you said. But, if it’s going to come falling down, why not throw another 700 billion at it?
I mean, will it make a fucking difference, seriously?
I realize it is just delaying the inevitable, but what’s wrong with that?
Terminally ill cancer patients take radiation treatments to live another 6 months, why can’t Joey Bag o’ CDO’s do the same?
As for crooks on Wall Street:
Remember who took out these fucking loans. Regular idiots, working at Joey’s Hardware store. That’s right. This is a Main Street problem. Regular Joe’s skirted their financial responsibility. I don’t know many rich folks who are being foreclosed on.
Let me get this straight, because the sub prime people are idiots, then it’s okay for them to renege on thier obligations. 100% of the fault is on that evil banker who extended a loan to him.
Pufuckinglease.
Now that same guy is pissed that he lost his house and is faxing his Congressman to vote nay.
How quaint.
Futures up 100! Party like it’s 1999!
Fly, Wood, Rajin, Jake, etc, is all that is good in this world, c’mon lets WIN and Rebuild:
http://www.youtube.com/watch?v=_cTxNpTM6ss&feature=related
Fly:
Why are you explaining yourself and sorta like excusing your view? You have explained your reasons a thousand times by now. Tell these gays to fuck off. Don’t be so defensive.
Sorry. I don’t care about the current stewardship of this country enough to help rebuild.
I want to drive around in Ferrari’s, while spitting at pikers in mid-town Manhattan.
Sierra is an old friend of the site. He may have missed some of my old commentary.
Who exactly are the pikers in mid-town, dude?
how about the fact that predatory cc cos literally had a booth right outside my dorm, preyin on college age kids, who likely have sqaut. 20 fucking feet from my dorm room in college. They would give you a huge “blunts” or “420” style T-shirt, and a shiny card, if you signed up. Ah, those were the 2003 days.
Having a cc, having a home — these things are like driving and should be a privilege, not a right. All the fucking mainstreet cunts in trouble are the ones who lobbied congress heavily for the last decade to facilitate their addiction to keeping up w/ the joneses and gay ass American culture that prides materialism above all else. It is their fault. The people who grassrooted this thing down will be fucked, they are the ones who wrote the check they couldn’t cash, and I absolutely don’t feel bad for them. I love America, and refuse to let it get thrown out due to the incompetence of the middle class. I am going to emerge from this thing great — those of you who caused this mess indirectly can suck it easy.
Fly, play that shit.. You know what to do!!!!
http://www.youtube.com/watch?v=_cTxNpTM6ss&feature=related
It’s in you….
I will get short the fuck out of mkt tomorrow if we get an up day that is less than a satisfactory rebound, at least 320 gay dow points.
BTW:
Instead of listening to trained economists, Congress listened to guys like this:
http://www.youtube.com/watch?v=XoCsj6I9OLk
Main Street is in control now. When do the gladiator battles begin?
mid town stock brokers.
I’ve said it before, I’ll say it again — Karl Denninger is a ham-smuggling bitch.
Are there any left? They’re going to love working for JPMorgan at a 25% cut in slow market?
Hey fly, I’d put NYC co-ops down 25% this week alone. That’s on top of last weeks 25%
Fly,
Fuck the subprime constituent.
The following does nothing to reinburse the subprime borrower, but only expose the dealer of toxic waste:
1.Force all off-balance sheet “assets” back onto the balance sheet, and force the valuation models and identification of individual assets out of Level 3 and into 10Qs and 10Ks. Do it now.
2.Force all OTC derivatives onto a regulated exchange similar to that used by listed options in the equity markets. This permanently defuses the derivatives time bomb. Give market participants 90 days; any that are not listed in 90 days are declared void; let the participants sue each other if they can’t prove capital adequacy.
3.Force leverage by all institutions to no more than 12:1. The SEC intentionally dropped broker/dealer leverage limits in 2004; prior to that date 12:1 was the limit. Every firm that has failed had double or more the leverage of that former 12:1 limit. Enact this with a six month time limit and require 1/6th of the excess taken down monthly.
The exchange will be a dice roll, but it least it creates an effort of transparency.
Danny, state your case again.. I would love to hear it? Bring it.
Sierra;
Seriously do you understand what’s happening? Do you understand why the fucking fed has gone out on a limb and arranged a swap line of 620 billion?
No one’s lending to each other dude. Banks are hoarding cash and not letting go. That means sometime fucking soon the firm employing 20 people working on a contract and getting temp lines of credit won’t be able to because the bank doesn’t have enough money to lend out. That means the small firm won’t be able to meet payroll, you dumb fuck.
So instead of getting all sanctimonious and telling us all that shit, its worthwhile trying something anything to get us out of the mess.
Sierra,
You ” solution” right now would cause a depression that would make the 30’s feel like a gay bar party.
J:
A big time grassroots movement of short selling bearshitters and psychopath right wingers, who know zero about the economy, killed this bill. Quite clever, actually.
Go around to some conservative sites. It’s rather shocking to see how stupid these people are, regarding how the economy works.
They think it ends on Wall Street.
Wall Street will become zombified and proceed to eat their brains for the next 20 years.
Enjoy.
CORRECTION: Left wing tin foil sites were opposed to the bill too. May their gay bars get shut down and their Turkish bathhouses lose their lines of credit.
That’ll learn them.
Personally, I can’t wait to bankrupt some farmers.
Oh, and now since no one will get car loans, I can’t wait to see auto part factory workers laid off. Let’s see how much unemployment the government will have to allocate.
One big problem with the Paulson plan was that it ignored the trained economists.
It was a total giveaway, fatally poisoned by the “no oversight” clause in the initial 3-page version.
The financial industry should be begging for mercy. Instead, Paulson has arranged for them to blackmail us.
The dope and whoever his advisers and enablers are politically poisoned the bailout.
Fly, actually your wrong, a majority of people who oppose this bill actually understand the consequnces but are willing to deal with them for the greater good of the country long term. Wallstreet and the geeks that created OTC derivatives are what caused this chaos in the first place. There will be a new bill that passes and when it ends disaster you sure better take responsibily for supporting it.
Kiss my ass,
my mortgage is 1100 a month, truck 2001 silverado paid for. Wife has G55 700 a month. so with that house + all inclusive stuff plus the G35 3500 a month.
wooo weee now im expected to fork it over….. kiss my white ass.
Give the taxpayers the money. It’ll end up with the banks anyway, via spending, savings, investment or debt reduction.
Fly,
I dont like it and dont care. The folks hurt most are from contries we’ve never heard of.
Not my cross to bare
I like Alpha’s idea. Give me the money, so I can pay off my debt, add to my savings, and buy more puts on grand American institutions.
We’re going to crash one way or the other. Might as well make me feel good about it.
Chuck
You know that 3500 a month? You won’ be earning it soon, or if you do most of your buddies won’t be. Like them odds?
Futures up almost 200. Party like it’s Sep 18-19!
Futures up over 200 points now.
Boca
Are you still angry at me? I hate it when gals get angry at me.
Wrong answer Fly. You just don’t get it. The 1.4 Trillion lost yesterday is investor money — it’s there choice to put it in the market. The $700B bailout is tax payers money. It’s not yours.
As far as the world coming to and end. Please. Shut the fuck up. Banking failures happend regularly in the world’s financial markets. There are much better ways to handle this then this bailout.
We have a lot of asspain in front of us. Either way you go the economy is going in the shitter and we will have some tough, tough choices to make. But adding $700B to the equation just makes it that much tougher later. What do you suggest we do with the next round of failures? The dollar will crash and the FED will be forced to jack rates to 1980 levels to defend the currency and fight off inflation. And when that happens — your scenario above will take place anyway. Only, we’ll have $700B less of tax payers money exposed.
You’re wrong. Period.
Banking failures happend regularly in the world’s financial markets.
Bullshit, not in the western world they don’t happen regularly. They’re irregular events, doofus.
Mish over at Global Economic Analysis led a huge campaign against the bailout (the kind that works, mass faxes/phone calls to congressmen across the board). Unfortunately I think he had a lot to do with the tom foolery we saw yesterday.
Someone said earlier “the local banks are fine”. I’m afriad not – I heard last week that Bank of Oklahoma (BOKF) had called all their new construction loans, putting local builders in a very bad position. BOKF is more of a regional than a local bank but the local banks don’t have the capital to fund these loans.
We haven’t experienced the home value inflation and subsequent devaluation seen in many parts of the country but are still being fucked by the credit mess.
I havn’t posted in quite a while – I’m finishing up grad school and working my ass off – all after pulling everything out of the market early this year. I’m sure I could have made some money betting against the market this year but everythings been just to fucked to follow.
I still love to check on The Fly from time to time to see how much coin is being banked. Congratulation of predicting the death of LEH months and months ahead of time – the time machine worked.
Fuck Mish. All these fuckers are just talking their book. He’s been short for the last 8 years and he’s lost shitloads of money, and now he sees his chance to make it back. Fuck him and his followers. I knew him from back when he was a borderline illiterate troll on the Motley Fool message boards, and very little has changed. He’s still a little troll.
who and where is Mish.
Hey, It’s dark in here…and crowded!
http://www.youtube.com/watch?v=_MGT_cSi7Rs
The real reason behind the meltdown.
If the GOP is so childish that they punished the country because Pelosi said mean stuff to them, they can cradle my balls.
She never had the votes to begin with Fly. She let 40 percent of the Dems take a hike on the bill in an effort to force the GOP to vote for it so she could use their votes for election purposes.
It is all politics.
fly-
You are a rank amateur, quit sucking your thumb over in the corner blaming the GOP for what pains you. Are you sure you had an appendectomy and not a scotumectomy?
Have you forgotten your story about the crazed man cursing in the mall an everyone stands back and ignores him circa 2008?
Think Nancy Pelosi…
Scrotumectomy and and
Hilarious — this is from Employee 8’s Huffpo link “explaining” the communists’s position. I’ll just copy out the provisions the hard left morons like E8 want in this bill.
Any appearance of these same provisions actually causing much of the trouble in the first place is WHOLLY COINCIDENTAL, I assure you. Without further ado, Moron sez, make THIS part of the bailout package:
Bankruptcy shelter for homeowners. Congress should amend the bankruptcy bill to allow homeowners to restructure their home mortgages in bankruptcy and save their homes.
(Effectively Japanizing the housing market AND destroying the ability of almost anyone save the Pope and Donald Trump to get a mortgage. Okay, maybe not even Trump.– Jake)
-Mandatory restructured mortgages for victims of predatory loans in danger of losing their homes. The modification program recently enacted by the FDIC and the depression-era Home Ownership Loan Corporation should be the models.
(Bailout the overreaching assholes who bought houses they could not afford by forcing mortgage holders to keep them there. Brilliant. This should be great for my Skiffles. Thanks E8!– Jake)
-Outlaw predatory lending practices and cap at 36 percent the interest rate on small loans charged by payday lenders and other predators.
(Ensuring that, hereafter, the only “credit challenged loan bidness” will be “Mafia bidness.” Joey Bag o’ Brass Knuckles thanks you, E8. — Jake)
-Expand unemployment benefits, food stamps, and heating assistance for families in need.
More generic welfare. In a banking bill. Why the fuck not? We’re giving money away ovah heah, right?
-Extend the Community Reinvestment Act (CRA) to investment banks and insurance companies. Any financial institution that benefits from the bailout must in return provide public benefit by investing in low- and moderate-income communities under the provisions of the CRA.
(I saved the most Un-Fucking-Believable provision for last {actually, this is the way the douchebag who wrote this article listed it}. Can you fucking believe that this jerkoff want to CONTINUE the forced regualatory structure that got not only the nation’s banks, but Fannie Mae and Freddie Mac into the sub-prime lending business? What a BOON to this industry this fuckery has been. But what does ACORN give a shit? It’s all about the graft, baybee! — Jake)
_
Dogwood,
These Hill Fucks are all on sliding scales – give too much and some are in some are out, give too little some are in some are out. The goal was to get a bipartisan bill approved, which in high stakes politics and divided house and executive brance IS THE ONLY WAY this will get done. So, we had House Repubs that were not inclined AT ALL to vote for this thing until modifications were made. Those modifications knocked out some of the dems sitting on that sliding scale. It was those compromises that got, what was thought to be a majority vote. How in gods creation could anyone believe “oh, the dems were in control and they could have voted for it” – pure ameturish bullshit. The goal was to cobble together the votes, it was thought that they were there, the bill pissed everyone off, there were dems and repubs that fell off the sliding scale, and the FUCKING REPUBLICANS FAILED TO DELIVER their share of a bipartisan bill. To slice and dice it any other way is a waste of time.
I am now armed with coffee and asprin. Bring it on.
TC– did you get all schitty last night?
Because “The Schitti never sleeps?”
You know.
___
Fell asleep about 9PM listening to football on the radio. My wife wanted to watch all of the news shows and I couldn’t take listening to the crap anymore.
TraderCaddy,
No trader worth his salt trades without a bottle of Pepto Bismol on his desk.
Funny thing is what we are seeing here is what should have happened in Congress – open, strong, contentious debate. The outcry from the rest of the country came about because of a perceived lack of debate on this mess in Congress. People saw Paulson and the administration come out and with little explanation state do what I recommend or see the worlds economy collapse. Now, some or all who read this blog may understand why the bailout was necessary, but we are not the majority by a long shot. So people hear about a “massive” plan that the media kept calling a bailout and they are not receptive. Then on top of that word leaks out that Pelosi and here cronies are slipping in crap to the plan to funnel money to special projects (including ACORN – the Dem voter fraud organization). After word of that got out is anyone surprised that regular folks were calling their congressman saying don’t vote for that bill. I’ve heard this stuff talked about everywhere. After church. At the Browns @ Bengals game. Family & friends, people who are not normally politically interested have a dim view of this plan. Whether we think it should matter or not congresscritters are conscious of the fact that they are all up for reelection in 35 days. The congresscritters in tight races need the administration to sell this more pervasively or they will not get on board. They are much more concerned for their job than our economy. That is one area of true bi-partisanship.
Separately, WOW did that Browns – Bengals suck! They should pay us for watching that crap. It is one sign that the economy isn’t completely dead – people standing in a long line to pay $7 for a cup of piss water called lite beer.
should have bought into the close last night kids.
steve leasman says that the unwashed masses just don’t understand. no, we understand, we just don’t want any more debt.
fuck you steve, you arrogant prick. get a real job.
maybe Fly will quit crying like a little girl now that stocks went up? What a pussy.
Holy crap… headed for 200 comments on this thread!
Vincenzo!
Am I no. 200?
Nope, #196.
This.
Is.
#200.
Now?
steve liesman:
Born in Bronxville, N.Y., Mr. Liesman received a bachelor’s degree in English from the State University of New York at Buffalo and a master’s degree from the Columbia Graduate School of Journalism.
what better training could you have to lecture the public. english and journalism.
Enough of this shit about fucking politics.
They are going to get a support package though, me thinks ….again
What does this do to stocks between now and thursday. My guess is that they’ll rise.
I bought some BHP here in ox last night at 31 ish. I’m looking to buy some C today…
lets see what happens.
Congrats to Jake. Take the day off.
By the way, what a crap opening. Still needed a big gap down for some real buying.
Jake
Stop polluting the thread with crap. Say something useful or stop counting by comments trying to prove you can count to 200. I believe you can ok.
Steve is an english major? wtf? How does the senior economics reporter not have a degree in econ? CNBC is such a joke.
Contractor… is it really that great a shock to you that these talking heads have no idea wtf they are talking about?
Shit, at least that little leprechauness, Erin Burnett, spent some boot camp time at Goldman.
_____________
j — I would rather you not speak to me, if possible, ever again. In fact, if I could, I’d set up an autoreply for you on this site (see below). In the meantime, take this as my response to anything you might want to send my way:
j – Go fondle koala balls.
Your cooperation is appreciated in advance.
_______
Buy the dip on EEV
Also, the markets up around 200 points and FED is in the red. The only bank stock on my watch list down for the day.
Odd, no?
Here’s also what’s odd: Nasduck up 35 and the Cubes are down a tiny bit??
WTF??
___
Jake…its “Cradle Koala Balls” funny.
J before you tell Jake or Boca or SW anything else I suggest you post on the PG. Really you should post there before you write another comment.
Buying more EEV here.
Adding FXP here as well.
Maybe a tad more SKF.
I appreciate the sentiment, KC, but I’ve got too many enemies out there.
Shit, I posted about the ACORN corruption (since taken out of the bailout bill, btw) the other day, and the “cut off their noses to spite their faces” commies one starred me.
_______
UYG also sucks. I am pretty much done trading these Profunds 2X funds. No relationship to what is going on.
Whats the PG?
jake, it’s not your site so don’t tell me who i can and cannot speak to. take a hike squire.
J get some sleep dude.
I sleep from 3 to 10 am.
This USED to be the best site for tracking the market.
Now it’s all about one-ups-manship and political bullshit.
Fly, the site is really slipping.
Less tongue wanking, more coin banking!
PG = Peanut Gallery = open forum to post whatever you wish to write, hopefully about the economy or stocks.
http://www.ibankcoin.com/peanut_gallery/
right below it on the Home Page is a link to sign up for Peanut Gallery, so that you can post your article as a new thread.
The new website should read ipanic.com.
“The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulson’s financial bailout plan fails, US Treasury officials have warned.”
Dow +262 NSDQ +55 WB +68%
OK,enough ball busting..
In honor of Larry Kudlow getting raped by 4 liberal “non partisan” journalists live on CNBC I’m sending Johnny Mac a G campaign donation.
curious. I closed C for my revals last month at 18.40 and closing at 19.30 this month. C is higher than lat months close. HUH! who would have thunk that.
I’m glad the Congress did not make a hasty decision. There are many facts unknown, much information that needs to be sorted out.
Is it more urgent that we come to an agreement immediately that may be prone to more errors and mistakes, or take the time necessary to make a more informed decision over something so important?
1929 and 1930 quotes “The economy and banking system are sound and resilient”
“ Discontented with iBC Lately Says:
This USED to be the best site for tracking the market.
Now it’s all about one-ups-manship and political bullshit.
Fly, the site is really slipping.
Less tongue wanking, more coin banking!
September 30th, 2008 at 10:15 am”
Agreed!
Ibankcoin=Fly’s House
Comments=Fly’s party
Jake Gint=The guy at the party hanging out by the bar, insulting everyone, and making people want to go elsewhere.
I am not sensitive, but this guy has almost single-handedly made this site unbearable!
What fucking part of “NO POLITICS” do you not understand?
“Jake is good people”.
Jake is not “good people”. He is abusive, arrogant, unpleasant, and doesn’t add to the conversation, just mucks it up. A little comment is seized upon, picked up and used beat everyone within an arm’s length with.
Insults to people’s intelligence, and accusations of “cognitive dissonance” while displaying the same, accusation of missing facts while cherry picking his own facts, and on and on.
What a waste of time.
Take your shitty, abusive, chest thumping Neanderthal act to the yahoo message boards.
That simple act will go a long way to making this site what it once was.
Fuck you the Fly. I’ll cash in my welfare check for scratch off tickets no matter how much money you wall street asshats lose.
paulson has been pathetic. every step he has taken has been too little too late. congress can’t stand him, the public doesn’t trust him, and his stuttering babble talk has finally showed him for what he is. who the fuck goes to congress with a plan to spend 750 BILLION $, and can’t even explain it. he doesn’t know how it will work, doesn’t know who will administer it, doesn’t know if it will have the intended impact, or what, if any, payback there will be.
thank hank
Also Disc-
Libs hate opposing views, especially when a gifted orator such as Jake exposes the liberal lies so well. Cut the liberal BS and this won’t look like a yahoo board.
Disc and Cheesedick
You guys are the biggest homo’s.
Fuck off
Jake- youre the man
… but Also discontented is right.
I am of a conservative bent, but I would never align with the tone and content of some of the commentary made in these pages.
Whats up with SSO ? This is supposed to be S&P500 X 2 . S&P is up 3%. This POS SSO is up 2.2 %. WTF ? It should be up 6% . I dont understand whats going on. It tracked the S&P perfectly yesterday dropping 13% + .
Also discontented is kinda right Joke, err sorry Jake. You need to apologize to all us for you shocking behavior and general Irish stupidity. But don’t thank me for telling you, no siree
Ah, I see my biggest fan — “anonymous dickhead” has made another fly-by appearance (no pun intended).
Boy oh boy, if she’s irritated now, think how much my latest PG post going to piss her off!
Heh.
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CAP — tell me what’s going on with the Cubes, too..
Nasdaq up 55… Cubes up… 20 cent??
WTF?? It’s like there’s a virus in the index quotes today or something.
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The printing presses are nearing max capacity. There’s still deflation of credit, simply because there’s SO much credit, that there isn’t enough money in existance to cover a tenth of it all. And if the credit bubble completely unwinds, EVERYONE must work off ALL of the credit that exists. We can’t continue to reinflate the bubble, all We’re doing is delaying the inevitable downturn, and the more we add inflation and inflate the bubble, the worse it will get in the long run. Look 9.5 trillion dollars in debt is a lot… The whole country has created so many BS programs, and created so much worthless spending on worthless wars, that everybody is going to have to work their butt off for the next X years to earn off that debt. Debt= borrowing from future production… if we want to pay it back in it’s whole, we either need to come up with money that doesn’t exist which will add to the problem, and more will be owed, or we bite the bullet HARD and I mean HARD….
But once we do, the credit ggets wiped out, jobs get wiped out, businesses get wiped out, and it takes a lot longer for us to produce enopugh to make up for all the credit, but eventually we work off that credit, and we can start building ourselves up as an american empire yet again. Otherwize the american empire is dooomed to fail, whether it’s in 5 years, or 10…. or 30, or 50.
None of this would ever happen, if we didn’t allow so much leverage, and I can’t blame people for not wanting to go back to the days of massive leverage. Banks are basically dead right now and out of business People are in serious trouble right now…
But that doesn’t mean that this decision needs to be done cautiously without errors…
All that BS “loss” is paper losses, it never really belonged to anyone, it was all based on credit, and what didn’t exist, simply because people didn’t value things for what’s going to happen.
It’s like dot com bubble that we never allwed fall. Instead of letting it fall 60% like it was supposed to, we printed money, we lowered ratess, we tried to “soft landing” everything… and guess what? All that did was make stocks go down 60% anyways when priced in gold. Now, you’re just seeing it materialize in dollars.
Look, it makes me angry that there’s a fiar lending act, and that I have to work harder to pay off some dude that only got a loan because of his color. And it makes me even MORE angry that my government would borrow money that eventually I’ll have to pay back through inflation and taxes to fight some war that we rushed into, or to spend money on a bunch of retarded socialistic, communistic social programs that the dems fight for. But I would rather put in the work now, and have everyone get wiped clean, so my childrenn won’t have to deal with burdens caused by my generation. And I certtainly have a lot of life in front of me, so I would rather take 4 years of workiing for free, to have the next 20 of REAL prosperity, then have to continue a BS system based on credit that is doomed to fail, like a pyramid scheme that runs out of people gullible enough to continue.
Discontents:
‘sa matter? Fly’s not banking enough coin for you these days?
It’s a free site dipshits – go somewhere else if you don’t like it; of course, that will mean you’ll need to start thinking for yourselves…
To borrow some of my favorite iBC expressions, Go hump a can of corn you asshatted fucktards!
JakeGint, it is prob due to yesterdays close. SOS said it was due to a lot of people repositioning for end of quarter. Many things settled where they should not have.
Jake – Now that you mentioned it I notice the cubes too. The top holdings – AAPL, MSFT, ORCL,CSCO,RIMM, GILD are all up 5% or so. The cubes should be up a buck fifty not 25 cents. Something is off.