Fuck all of the bullshit, debating the stimulus, while bitching and whining about the market. Hey, if you fuckers want to do something about it, quit paying your taxes.
That’s what you should do: partake in a good old fashioned tax revolt. The next time the IRS comes knocking, tell them to go fuck themselves amidst their God damned federal printing presses. See where that gets you.
Oh, you should stop paying your mortgage too. While you’re at it, stop paying for your car, the kids education and even groceries. Just walk into your local Whole Foods, fill up a wagon with organic shit, and walk the fuck out, as if you owned the place.
The alternative to that shit written above is to form a militia and sing fancy songs with them, while living in exile— on a swamp somewhere.
See assholes, life must go on, whether you like it or not. You can build out nuclear bomb shelters and move your family into them. But the only cool thing that will result from that is your vacated house being used/violated, by the local teenagers, in order to throw keg parties inside of it.
On a very personal level, I don’t give a fuck about government. Fuck them and their asshole ways. I have an excellent tax attorney, who helps me find tax shelters. As long as government doesn’t fuck with my business and blog, I am cool. Hell, life is too short to worry about the end of times. We all go inside coffins, made from pineapples, eventually.
I know, you zealots out there are worried about future generations. Hey, I got news for you fuckface, they don’t give two homos and a queer fiddle about you. When you get old and weak, they will liquidate you and use your body to fertilize their corn fields.
What if China stops buying our Treasuries, sending the dollar into free fall? How very scary.
That’s an easy one. Everyone will take out their guns and start shooting each other in the face. Hey, we’re Americans. We love to shoot things and make believe we’re egregious cowboys on some sort of wild coked out expedition, in search of gold. Well, with a little help from the Chinese, we can do that for real, ransacking each others homes for gold rings and chains.
Bottom line: quit being such a fucking pussy.
In other news, FAS players are dead. Fucking dead, I tell you.
[youtube:http://www.youtube.com/watch?v=YFyEBr7kuLs&feature=subscription 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is God.
The Fly is god
The Fly is god
Zombie and mrkcbill bathe each other.
I can feel the tsunami of bailout funds coming directly at me. The stimulus bill is a foregone conclusion as is the continued existence of our financial institutions and corporations.
I will benefit to a much larger extent from the stimulus than many, I can assure you.
Now, it would seem that the S&P is at a key pivotal point that can go either way. Based on the chart patterns, it could still breakout and head north, or breakout and head south.
This sideways crapola gave me an opportunity to strenghen some long positions on the dips in hopes of a bear market breakout to the upside.
Right said! By the way if you stop paying your mortgage that bobble head Obama said they will pay it for you. What the fuck is that all about. I say we form a fucking militia, stop being fucking pussies and man up your guns. I have plenty to contribute.
Japan in outright depression. No sugar coating this one
Japan’s Economy Shrinks Most Since 1974 Oil Shock (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4pJGUKHbxoU&refer=home
Notice all the urgency to get this stimulus bill passed so Nancy Pelosi can be here for the vote before she has to fly off to Rome to get an award. So sorry, no time to read it. Then, after Obama urges quick passage, he leaves for the weekend without even signing it. The open double talk here isn’t even called out in the press. This is starting to look like Rome before their civil war.
HAHAHAHAHA!! Fly has gone off the deep end, he’s cracking, I knew the day would come.
FLY
How high do you see FAZ going?
If you had to pick a get rich fast stock, would you get long FAZ, SRS, or another?
I don’t like banks, long or short. They are already dead. What are we gonna kill them again?
At least SRS still has meat on its bones.
We should be more like this guy.
http://www.youtube.com/watch?v=XVjnjtqnPGU
jed wears “The Snuggie”
I agree Fly… Japan is in a depression and they’re just starting to realize it.
I can’t see how they can keep the Yen below 100.
You don’t think this is just conservo sabre rattling? They will do away with mark to market and ban short selling before they nationalize the banks.
Those short sale limitations made me some serious coinage last year. I saw a 50% gain in two days. But that was from bottom fishing at the right moment.
Hopefully it was just a dress rehearsal for the real thing. I’m very heavily weighted on the financial side now. Egregiously so. All this chest beating and threats to nationalize are just unrealistic politics as usual.
I’m positioned to do well with the infrastructure reconstruction, which has been neglected too long now, and I’ll do well as the financials regain their footing over time.
That was a great post.
I am going to buy something in .50 cal tomorrow. I think those bullets are like $2.00 a piece. Maybe Lady G will be impressed.
The drumbeat for nationalizing some of the banks is growing louder. It’s more than just conservatives. In addition to tons of blogs, Roubini has an aticle in today’s Washington Post saying nationalization is the only way to go given the size of the losses. He lays out a pretty comprehensive blueprint.
He also says the sooner they start the process, the less costly it will be. My thoughts are more prominent people/organizations are starting to talk about it publicly as a way to start conditioning the public to avoid another full blown panic. But I may be wrong.
I think there was some foreshadowing going on with the whole “Big Bang” speak a few weeks ago. The creationist in me ruffled, but I can imagine a series of very radical steps which will allow the economy to “evolve”
– The stimulus package
– New govt sponsored toxic asset insurance
– Change of mark to market accounting
– Ban of shorting financials
– Truly global coordination of efforts
– Some new govt mortgage enterprise, willing to keep everyone in their houses if they agree to egregious terms like 100 yr term, recourse mortgages, etc.
– Maybe a new nationalized “good bank” to compete against private financials
Obama chooses his words carefully, not unlike Bill Clinton, and the big bang speak indicates an explosive new start and maybe even a parallel financial “ecosystem.”
And, yes, I’m buzzed.
You can still catch 5.57 shorting BAC
COF to zero.
Keyser, I’m sure the regionals all have world bank plants in place already, ready to snap to attention and click their heels once the Furher sends out the command. The O man doesn’t like it though. It’s just too decadent for his tastes I think and I don’t think he trusts them much.
The propaganda machine will reach a feverish pitch on this nationalization thing (that little strategy is already baked in to this whole debacle). We’ll see if they get their timing right on it. Somehow I doubt it.
There’s a new sheriff in town.
http://www.youtube.com/watch?v=upvZdVK913I
we are for sure FUCKED as a nation. Gold silver and smith and wesson. just get on with it.
Bunkers don’t work. This thread from metafilter discusses divergent opinions on the aftermaths of social collapse, specifically the comments on Sarajevo are enlightening.
Summary: Hoarding doesn’t work forever. People will form tribes, you’re fucked anyway if you’re a lone gun-nut.
Will you dudes settle down. This guns talk scares the hell out of me.
SRS 1000 by Easter!!
We go soo green this week its not even funny.. Write it down fuckers.
Fas in the house.
I have a Costco 3 miles from me. I’ll just ride out the coming Apocalypse there. I figure there is enough food and supplies in a Costco to last me a decade or more. I’ll booby trap all entrances so no one else can get in. There have nice plasma’s from which I can watch all the riots and death and destruction taking place outside. There have computers and I can use it to get on the internets and iBankcoin and receive Fly’s daily sermon. They have a nice alcohol section and I can get drunk nightly. They also have PS3s, Wi’s and all that fun stuff. Not to mention candy. This apocalypse doesn’t sound all that bad. Bring it on bitches !
fly we want to f*ck you and your blog
The Fly really gotta learn to come outta his shell.
Yet, this feels a lot like the pit when the locals are all short at the bottom around midsession. While the chances that Team Obama will have the cajones to do it, all y’all shud be at least a bit cautious if they figure out the G needs to eat at least a major portion of the negative housing equity; anybody at least keepin’ their radar switched on, just in case?
p.s. and it’ll still be a bear market later. Consider taking a look at the chart Howard popped into MacroTwits this evening. We shall see.
http://www.youtube.com/watch?v=b6E682C7Jj4
Jed has man tits. Those big floppy ones.
The Fly is God.
College enrollment is up 42% quarter over quarter here in Oregon.
I investigated this, and I was shocked after I found out that:
No job, no money? Just go back to school.
You get your Pell grant, your state opportunity grant, and then get a decent GPA your 1st quarter (3.5 and up). That gets you a scholarship grant
Now, don’t forget the student loans to round it all out. Stafford loan interest is subsidized by the government until you are done getting educated.
The above is good for about $14K every 8 months.
Of course, then you have the summer off-to leave the state and work.
Say you are a waiter at a nice restaurant someplace… you can make $10K+ in earnings, plus some solid cash on the side.
When you get back, claim and get the “training unemployment insurance” at $200/week, which has now been extended….going into phase 4 (not including the current stimulus bill) that’s over a year of benefits without having to look for work, or $10,400/year.
Wait, not done yet…
Then you get your subsidized housing vouchers, your food stamps, your various federal re-training grants (to help pay you car payments, etc.).
Get re-educated, and make as much money as someone working full-time at $23/hour.
Oh, you do have to take at least 11 units/credits per quarter (or semester).
THAT explains the 42% increase in enrollment…and it looks like it will continue to go up that fast over the next two quarters.
Everyone in America who lost their job:
GO BACK TO SCHOOL!
Enter Sandman….
http://www.youtube.com/watch?v=H1JCxAK1r50
China will have no problem feeding their people.
Soylent green tastes just like chicken. I think devildog has the recipe. I fear for his family.
Damon: there’s also the factor that Hipsters fucking love Portland, and it’s now filled with kids too-cool-for-you drinking their PBR and listening to Andrew Bird and The Decemberists. it’s a “cool city” and where the damn kids flock to now 🙂
Lindsey Graham is a douchenozzle, by the by.
Maybe we can send Devil Dawg to one of his campaign events with a special “vest.”
_______
Onto more quotidian affairs:
Yes, the refiners still look good here.
______
go for it then.
right.
JakeGint: Only WTI crude is getting cheaper. This is probably because of demand destruction for gas in the USA compared to the rest of the world
Two things to worry about, that you have not thought about:
CAT finance, which is Caterpillars finance arm, currently levered 7:1.
And, Russian corporations needing to finance over 400bill in debt.
So I herd — no matter, as long as the crack spreads stay wide, West Texas can go to $25 for all I care. In fact, that would be better for the refiners as they have already cut back production to a level where they can make a profit at lower volume demand.
__________
go for it then.
Starving Marvin — aside from one legacy stock in my port, refiners make up the largest part of my portfolio right now, even more than PM’s.
I may add some more HOC and WNR, though.
_______
CAT finance, which is Caterpillars finance arm, currently levered 7:1.
This is the second time you’ve mentioned this stat. Banks are, on average 8-10x leveraged on far worse assets than those shiny, easily resellable CAT beauties, so what’s your beef?
You know there’s a bullshit road building stimulus in your future, dontcha?
___________
True. I forgot the stimulus. My bad.
read somewhere:
Utilization down 1.6% — Refinery utilization now sits at its lowest level in nearly 20 years for this time of year at 81.6%. This year, US refinery downtime is set to peak in Mid-Mar; which should translate to product stock declines over the next few weeks if demand for products holds up.
Franks talking shit to Obama’s man already
http://www.nytimes.com/2009/02/16/us/politics/16shows.html?partner=rss&emc=rss
Barney Frank will be one of the main actors running these POS’s.
WTF!?
We’re toast. Done. Done.Done!
I rather see Wall St. thieves run the banks as they have been than see that borderline demented corrupt stooge involved in banking operations.
This is what we’ve come to.
It just hit me.
WTF!?
but the I also read this in Barrons this weekend:
Bearish on refiners as sector to face rising supply gut over the course of 2009, see group margins falling over period. Looks at Tesoro (TSO) and Western Refining (WNR). Following a 6% demand drop in 2008, traditional spring maintenance down period not expected to bring traditional positive price movements seen in refineries. Notes that spare refining capacity is abundant and this would enable refiners to raise production if needed. Expect 2010 earnings/share to fall for all refiners except Holly (HOC). Reminds readers that EIA refined forecasts for 2009 are -1.9%y/y. While some Q4 earnings may exceed expectations, see FY09 supply gut to apply downward pressure on margins for full period.
Well, I may not believe in the Nilderburg conspiracies, but I DO happen to believe in Barron’s conspiracies!
Look for M&A’s in the space after the traditional Barron’s brush clearing.
___
Jake – what are your refiner holdings?
Please don’t say CBL.
Thx.
Ireland on the brink of default.
Question now is whether they get a EU bailout.
This is a fucking joke.
What’s the world coming to?
http://www.guardian.co.uk/world/2009/feb/16/ireland-debt-recession
Look back at the Jan. indicator. This is some really bad shit. Gold will go down and the dollar will rule. World trade will come to a halt. Cirrency wars will start.