I’m sorry. I don’t give a fuck what the perverts from Playboy say: The Santelli Rant was NOT staged.
Rick has been railing against the out of control spending for ages. To suggest that it was staged, by evil doing right wingers is, well, disingenuous and reeks of plain ol’ vanilla left wing propaganda. No offense to left wingers of course.
“The Fly” despises both left and right wingers equally, some more equally than others, of course.
I mean, really, just because Rick made mention of a “Chicago Tea Party” should not, in any way, negate or minimize all of his valid points, which in fact are 100% consistent with his previous CNBC rants.
Fuck off Playboy. I hope you die and your stock goes to below zero. It’s worth noting, The PPT ranks PLA a strong fucking sell.
May your pervert mansion get foreclosed on and Hefner fall off a cliff, him and that stupid robe.
Indeed.
[youtube:http://www.youtube.com/watch?v=jiCOb49vVVM&feature=channel_page 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
Fly:
Keep sitting on the fence like that with legs either side and you’ll skin your groin.
Just kidding.
What you are is a libertarian, Fly: a Reason magazine libertarian. It’s an admirable quality. So am I. However I despise the left even more because they’re statists…. more so than the GOP who I dislike but a lot less.
Playboy’s been going down like an overeager bunny wannabe for years.
Santelli is smarter than anything else on cnbc.
Have met Hef and his “girlfriends” twice.
Sadder than you can imagine.
Here’s Reason Mag suggesting the budget is a crock of swill.
http://www.reason.com/news/show/131924.html
Anton:
You been the mansion? Dude can you get me in for one of their parties.
How did you meet him and why is he sad?
JOE KERNEN isn’t that bad though.
Do I sense a puritan movement going on here? What’s next? Burn the witches?
Fly should be banished to the Dominatrix room for those comments.
Would it be ironic if we had a rally off SPX 666?
I’ll have to get long SPY contracts there, just for fucks sake. Whomever fuck happens to be.
I read Playboy for the articles.
Note to the
liberalscommunist apologists:– Santelli’s rant was REAL
– There are at least a couple million of us out here who feel the EXACT SAME WAY
– The ‘merican people ain’t stoopid. There’s a REASON that EVERYBODY’s buying guns and ammo. Something big is coming, even if nobody knows what yet.
What J means to say is Joe Kernen would be not bad if he could take Jeff Immelts dick out of his mouth long enough to look around at what is happening. America isn’t pissed about Jack Welch’s bonus, we’re pissed that the CEOs Joe keeps sucking up to lose the farm and then want a major bonus plus another few years to strip whatever might be left. Note Japanese. You fail as CEO, so you go on television to apopogise and are never seen in public again.
Joe hangs with people who have no shame. And he shouts down guests.
“Would it be ironic if we had a rally off SPX 666?”
Yes, 666 is the SPX final support level. Satan won’t allow that level to be broken. It’s impossible.
I make it a point of not watching CNBC Mama. However the little I’ve watched Joe K seems ok. However I take your word for it… that he has Jeff’s dick in his mouth.
Fly– You are, without a doubt an equal opportunity hater, a real accomplishment in life I must say. Your humanity is absofuckinglutely overwhelming.
Everyone in the country has seen this video by now. Don’t you think the government wants the general population to believe it’s a fraud? Even if a certain percentage now only think it was staged they have taken some of the pressure off. The government is nervous that there will be some kind of revolt against their actions in the not to distant future. We all know they use CNBC as there informants, Rick Santelli is finally snapped spilling his pent up anger of the government misuse of power. Just my view for what it’s worth.
And by the way, I have no clue about Santelli’s rant being staged but I do know it was complete and utter bullshit. The TELL in that big fucking crybaby;s screed was when he said that the floor traders were like everyone else . “Hey, we take the bus to work Like everyone else”. Yeah right Rick. And what does a seat down there cost? These ignorant fucking dildoes do not understand that if they don’t help their neighbors THEIR OWN FUCKING MCMANSIONS go in the shithouse. Does that suck? sure it does. But it is, in point of fact reality. Fuck Santelli. He’s a big fucking crybaby who reminds me alot of our friend the Fly.
You can have brass balls and you can be right, but it all vaporizes when you enter the den of starving lions with nothing but a loin cloth.
Burp
Fuck right off, you moron. The reason Santelli was right has nothing to do with who was sitting in front or behind him and what their jobs were. The reason was he was right is the government is creating a series of perverse incentives (in economic speak). These are that the people who have struggled to maintain their mortgage and are in good stead with the bank will be penalized compared to the people that signed a morgtage for a house they couldn’t afford and are now being subsidized by the Federal government to stay in them.
If you want to “help” people stay in homes they can’t afford, you could along with your friends, raise the money privately and spread it around.
Preventing prices from adjusting to reality, which the government is doing by keeping these people in unaffordable housing simply slows the clearing process from taking place and prevents people that could afford these homes at a lower price get a look in.
Take your sermonizing bullshit and and fuck off.
Subsidies don’t work.
It shall be quite ironic to see the primarily liberal faggots who voted for the cloaked in change bullshit that Blowbama has espoused- get crushed in a wave of civil unrest that will make even the most stout of man concerned for his safety. As it becomes apparent the socialist we now have elected will only make matters worse prepare for events you gay little latte sipping retards never thought possible on US soil…be scared.
I have to believe it has to be a joke that someone thought it was staged. What the fuck is wrong with you people. Seriously is everyone coked up with baking soda sprinkled in? I feel like I am living in some fucking Clown World. Jake are you still out there? Chuck Bennet are you there? I must be dreaming. Back to my guns and shit. By the way fucking long TBT has been a godsend lately.
Afterthought: Is it possible to have a name like “Kendra Todd” and not do porn?
Fucked Watch:
David Uren, Economics correspondent The Australian
DOZENS of freighters carrying Australian iron ore are stalled outside Chinese ports amid a collapse in demand for steel, dashing hopes that Chinese industrial demand will protect Australia from the worst of the global recession.
Tumbling Chinese exports and renewed stock market lethargy indicate that efforts by Chinese leaders to defy the global economic crisis are struggling.
Instead of being used in new office buildings, factories and bridges, steel is being stockpiled, driving an 8.6 per cent fall in Chinese steel prices in the past fortnight.
The situation bodes ill for pivotal annual iron ore contract negotiations between Australia’s big iron ore miners and China’s steel mills.
this is just out on the online version of the paper and is early morning in Australia.
BHP/miners will be fucked big time here tomorrow if this takes hold.
Oil could take a hit too.
http://www.theaustralian.news.com.au/story/0,25197,25124580-601,00.html
Read the whole thing.
Funny how the media is taking the most genuine commentary on tv and trying to discredit it. Note to self… Pay closer attention to what the people the media is trying to discredit, for that is where the truth lives..
j-
So in other words genius, you want Santelli and all of his other Merc rich crybaby buds to let the “market” settle on the price of their homes which most assuredly would give them a minimum of a 25% haircut if his neighbor’s house goes into foreclosure. Is this your idea of letting “Prices adjust to reality”? And it’s not just Santelli and friends. Man, you right wingers are just way to dumb for your own good much less the country’s. Grow the fuck up would ya?
South side is vacant.
http://www.youtube.com/watch?v=uQSd02WXa-U
Hello Bill,
Most mainstream economists (including Krugman) and WS seem convinced that the Obama stimulus won’t work, at least not in its current form.
If I’m correct, you too are extremely bearish about the future. What exactly is needed to be done? Keynesian economics tells me massive stimulus on infrastructure and some tax cuts; Obama’s plan doesn’t remotely address the former.
PS. Christina Romer was my economics professor, and I’ve no idea why she’s not executing what she taught me.
Thanks Bill.
Fleck • Buckle up, here comes a rant……Obama’s stimulus plan was a joke, it was pork barrel..and was pathetic in showing any sort of understanding of how dire the economy is. I expected shock and awe and innovative thinking, but we got awe shucks…..it was Washington D.C. at its usual self interested best….and, they don’t even get the financial mess, Geithner has no staff…nor, it seems, any imagination.
Folks loved to laugh at Bush, (because he was so bad) but all those who trumpeted Obama as some agent of change already look silly… THIS ISN’T PARTISAN, I DIDN’T LIKE BUSH – I DETEST ALL POLITICIANS..BUT, WE BETTTER FACE IT: THE OBAMA TEAM IS CLUELESS…other than the fact they have an agenda, which has zero to do with dealing with the disaster created (NOT BY BUSH) but by the Fed and ALL the rest of the government who did not do their jobs…Democrats, Republicans and career bureaucrats alike..we have an economic disaster on our hands which I have warned about for years….it’s going to get much worse…any(however small it was) chance to try to get ahead of it with forward thinking has been blown!
The stimulus plan wasn’t an option. It was a critical delay tactic to buy time. That is all.
In time this country will climb out from under the fuckery which led us here, it’s just going to take a little time.
I always thought Joe Kernan was a tragedy. He’s got a degree from MIT and he should be curing cancer instead of gobbling knobs on some stock infotainment channel.
The reality is that the vast majority of americans borrowed more than they can afford to payback. PERIOD.
You can try to place blame on whose fault it was, who allowed it to happen….blah blah blah…
Reality is what I said above. As Americans, our household debt is larger than our GDP.
Someone has to take a haircut!!!
If the banks are allowed to fail and no stimulus given to the average family, the average family will receive the haircut in the form of lower employment and a depressed economic environment for a period of time.
If the banks aren’t allowed to fail, and instead they are nationalized (which will happen, there IS no other choice, except for the scenario in the above paragraph) then the American family will still take the haircut, but it will arrive in the form of inflation and higher taxes, for an extended period of time.
Bottom line, the American family can’t take on more debt to get them out of this crisis.
The banks can’t lend because they are insolvent.
Do we want social unrest and instability? Or nationalized banks. I vote nationalization as I really do not want to have to shoot my neighbors when the wheels fall off the cart.
http://www.npr.org/templates/story/story.php?storyId=101224460
This link above is great. Yes it is an NPR production, but I had a hard time detecting a bias. It is well done. Check out the deustche bank letter.
Ironically, the big individual $ loser in all this is going to be Warren Buffet. I think before this is over, Berkshire is going to either be split up, go bankrupt or trade for under $10,000. The great liberal lets raise taxes and make the greedy pay is about to have his wish come true.
I pray cocky Kernen’s mortgage is through GE Capital.
There is another interesting twist to all this.
A friend of mine is a bank president in the midwest. He said that they have plenty of money to lend and that they are not hoarding money, nor are they interested in doing so. Very few are coming in asking for a loan because of rampant psychological fear created by the media.
His observation is norrowly focused on lending, but it is an interesting observation.
omfgitsjd, my take on that is that no one is coming in for a loan because no one can afford it.
The fear is not psychological, it is real.
Should the banks be forced to mark-to-market their assets, they are insolvent. End of story.
Shed,
I can’t believe you’ve gotten onboard with nationalization!
Communism isn’t the answer to these problems any more than it was to Russia’s in 1917.
I see more of a threat of “social unrest” if the banks are nationalized than if they are forced into bankruptcy.
Amazing story about what’s going on in California’s ag regions due to the drought. This is the Great Depression all over again.
http://www.mercurynews.com/ci_11803992
From talking to a couple of local bankers in my area, I have picked up on the same sentiments. However, they also feel pressure from the regulators to make sure every loan is Grade A Prime. This is making it tough on small businesses that deal in cash and relatively small check deposits to refinance or get new loans.
Well guess what? That’s pretty much the bread and butter of your local bank. They are having to refuse loans to customers who have never given them any trouble before, because of increased oversight. In addition, a lot of these banks didn’t really participate in the credit bubble to begin with, but now they have to deal with the repercussions also.
shedder,
Yep, we were discussing liquidity and the availability of cash to lend.
Maybe it’s time I step up and mortgage a few slum properties at bargain basement prices.
I have seen quite a few people from California move into my area over the recent past. Most of them had parents or grandparents that were Arkies and Okies that moved out to California in the Depression, ala The Grapes of Wrath.
This is, in effect, a reverse migration.
Flux, nationalize now. The sooner the better. We’ve seen this movie before. This is going to be Japan 1990s with a little 30’s era Great Depression thrown in for “texture.”
Ozark/omfhitsjd, the problem is that the small banks control less than 20% of the money. 80% of the money is tied up in C, BAC, JPM, etc.
Flux, do some research about the recent goings on in the FDIC. Check out how many new people they are hiring.
Nationalization will not make us communists. It just so happens that previous to this year, it has been mainly communist/socialist countries nationalizing their banks.
We put this off, and we risk serious social upheaval as gov’t runs out of money for basic services and employment skyrockets.
Or, we go ahead and fix it now, have much higher taxes, but have some hope that through American ingenuity we can once again grow our country and economy in a way that will evenually overwhelm these debts we’ve paid to keep the banks solvent.
OMfg- I am experiencing the same w/ regard to M’west community banking. Some slowing in loan growth, but impairment minimal outside the big acquirors of the 90’s.
Shed, you’re perspective is skewed due to the fookery seeping all the way down to (usually immune) Richmond this time.
____
Fly
Is the time right to start a poll on the first high profile wealthy asshole to be taken out by an angry mob?
Shed,
You’re right, technically nationalization of the banks wouldn’t be a “communist” tactic. The correct label is “national socialist” but we won’t go there.
If you haven’t noticed, the gov’t is already “out of money” – half this year’s budget will be borrowed.
Unemployment will skyrocket either way – the economy needs to make some major long-term adjustments; gov’t action will only extend the pain.
Your kids, and mine, will be the ones stuck with the bill. The idea that the gov’t can borrow as much as it wants and we’ll just “grow” our way out of the debt load is nonsense. This is credit bubble baloney, just like “go ahead, take the ARM, you can refi before it resets”.
The root problem is individuals, businesses, AND the gov’t are all being crushed by the accumulated debt load. The solution to this problem ISN’T more debt, and it certainly isn’t making working people pay higher taxes so that the bankers can avoid taking losses!!
Jake, brother, who cares what midwest banks do or say?
For that argument to work, then we can just eliminate all of the banks east of the Mississippi, no?
What would this country look like with the entire banking system east of the M, gone?
You would say, in that scenario, those Mid-west banks don’t mean nothin’.
Those MW banks are no different than the taxpayers who didn’t overextend themselves yet will be taxed like those who did. They will get a haircut, regardless.
RE: Playboy story-
I suspect ole Hugh was offered some special TARP funds to keep his mortgaged cat house if he did the Administration’s bidding.
Never underestimate the media’s cognitively dissonant willingness to cover for this ephemeral People Magazine Presidency. They bought this shit sandwich, and they’ll have you eat it up and until the day the Jacobins turn on them too.
___
Congrats to Lou for taking out a tough Marquette Eagle team.
____
Flux, you may be right in that the global debt load is so large that there is truly no one left to finance the debt it will take to nationalize the system.
Regardless of that, taxpayers will lose, period.
They will either lose as we lose basic services, umemployment continues to shoot up, and fabric of our society unravels.
Or, we can lose through egregious taxes.
Either way, we lose. I guess which path you choose depends on where you live, whether or not you have children, and how secure you feel in your job and your ability to defend your family from social unrest.
Yep, the middle class is screwed either way – it’s just a matter of how bad. I’ll take the path that doesn’t involve emulating the Soviet model, because we know how that story ends (read up on Lenin and the NEP).
If you’re really that afraid of social unrest, why don’t you move your family somewhere “safe”? That seems like a smarter plan than using your grandkids’ money to pay for protection from the welfare crowd.
You think the pain of major bank failures would be bad? Compare our experience in the Great Depression to Germany or Russia’s.
I see no reason to believe that the statist ideas which killed over 100 million people in the 20th century will turn out differently if we adopt them.
Glad to see Shed talking some sense on this board. The rest of you are so blinded by various forms of ideology and a twisted lust for Armageddon that you would rather see the country burn than risk being perceived as “communists”. That makes sense.
Btw… who really cares if Santelli’s rant was staged or not? Isn’t everything on TV staged?
Flux, I understand your concerns. I was in the same place as you about a month ago. The more I read and research, the more I say nationalize.
I’m not willing to say that nationalization=communism/socialism or lefist states.
I think/hope there will be a middle ground that can be defended until these behemoths, BAC, C, etc. can be chopped up and auctioned off to private equity.
The 100 trillion dollar question…Can private equity raise enough capital buy the remnants of these banks soon enough to avoid slippery slope into communism/socialism/leftist states?
Prez,
Your comments were so singularly vague and non-contributory to th discussion that I feel I have no choice but recommend you go fuck a bag of rabid squirrels. My apologies if I’ve misjudged.
_____
Shed,
I don’t think you’ll find any workable middle ground on this one. Nationalize the banks? Okay, why not the homebuilders too? And why not have the gov’t start buying up residential RE to prop that market?
In fact, why go through any of this? Just have the feds print bucketloads of FRNs and hand them to the banks – the banks can add them to their balance sheets and *poof* magically become solvent again!
Once you recognize that credit is not capital, things become more clear.
At best, nationalizing the banks will allow the gov’t to paper over the problem and restart the phony debt-driven “growth” we’ve had for the past decade.
At worst, it will lead directly to the social problems you’re trying to avoid.
Neither of these seem particularly palatable.
Nationalization won’t solve any problems, it will simply change who pays for the losses already incurred – and add inefficiency, waste, and graft in the process. Do you really want the same fuckers who run the DMV to be in charge of day-to-day operations at the nation’s largest banks? As long as the gubmint continues to collude with the bankers, and allows them to pretend they’re solvent, private capital will stay away. Why risk anything in this environment, when you have no idea who’s lying or telling the truth about their books, and it’s obvious that the regulators are either oblivious idiots or completely fucking paid off??
‘Nationalization won’t solve any problems, it will simply change who pays for the losses already incurred’
———————————————————
That’s why the “stimulus” and other ’emergency’ acts are designed to protect bankers, high wealth investors in banks, bond holders and various government employees at the expense of those people who live outside the protected center.
It isn’t just BAC and C that are dead…WFC is farked and…yes, Berkshire is in big trouble. They haven’t written off a nickle yet. They have $27 billion in goodwill that’s probably not worth anything.
They sold $10 billion in S&P put contracts. There’s a stroke of genius. Berkshire keeps floating the phrase “that they don’t have to be paid off for at least 10 years. Actually, Berkshire has to set aside the cash in a separate account.
Berkshire has 35 billion in derivative contracts. Worthless, at best. At worst, they get their ass-whipped like with Swiss Re.
Berkshires holdings read like a list of best shorts for the 21st century. Wells Fargo, M&T Bank, United States Gypsum, Bank of America, American Express, Home Depot, Carmaxx, USB…Buffet has created a Hank Greenberg balance sheet…
………which is precisely while they’ll nationalize.
Just for the record, I’m with Woodshedder on this one. The megabanks will have to be nationalized. The sooner the better. I don’t like it either, but after looking into it more and more, I think I came to the same conclusion about the time that Shed did.
Nationalize them, and break them up so we don’t have to worry about “too big to fail” again in our lifetimes.
By no means should we continue to prop them up. They will just continue to suck money from our coffers.
Of course, I don’t even think we have the people to perform the so-called stress tests, much less nationalize these uberbanks, so it is unlikely to happen. So this mess is going to drag out indefinitely.
Europe is screwed, even worse than us.
http://biz.yahoo.com/ap/090301/eu_eu_summit.html
I look for the dollar to go higher as it did during the depression. The dollar rose as just about all of Europe defaulted or suspended its debt and money flowed into the dollar as a flight to quality. It looks like history is repeating. It is worth a look to short the Euro.
I also thing that short gold as a short term trade may be a good move. The long gold is getting crowded. All I hear on the radio and TV is gold commercials. almost every analyst is a gold bull, and we know that they are usually late to the game. Yes, long term gold may be a good buy as the economy continues to fall, but short term the trade is crowded and the market loves to punish the crowds.
AIG may get another 30 billion, and Obama will ask for another 750 billion for banks. This is getting insane. How much money are they going to print? We will be living in debt for the rest of our lives for sure. Taxes will go up and will eventually be 50% of income.
We need to revolt. Stop this insanity. Allow failure. Until it happens more and more money will be thrown down the shitter.
j –
Never been to “the mansion.” Met Hef a couple times at Vanity Fair parties. A nice little old man clearly out past his bedtime. He was “dating” a little entourage of sad, saline bag enhanced young ladies, I guess as hype for their “reality” TV show. The women were not, in real life, the kind that easily slip past the velvet rope at better LA clubs on a Saturday night.
_______________
What’s up with the Santelli bashing? Some retards must have stumbled in from the yahoo message boards.
I agree w/ wood about nationalization but disagree about the importance of east coast banks. East coast banks are becoming irrelevant, they are fubar, all they can do is soak up taxpayer money and give back nothing. Their customers are either deadbeats or else they are wise to their shenanigans. It is my hope that banks like Arvest take over the world because they still require 20% down and solid collateral. Keep flatulating about the big banks wood, nobody cares anymore.
Fuck it! Don’t worry about the debt and taxes if it keeps you up at night. All we need to do is stiff the Chinese, let the bond market collapse, abolish the fed and get back to following the Constitution.
+1 for nationalization. the current situation where the government is pouring money into the banks to protect bondholders is the socialist/crony capitalist solution. if banks are insolvent then they need to be moved into bankruptcy/nationalization/whatever the fuck the FDIC calls it. someone needs to pay for the banks fuck ups and i think it is better bank’s shareholders/bond holders write the cheque than the tax payer.
So in other words genius, you want Santelli and all of his other Merc rich crybaby buds to let the “market” settle on the price of their homes which most assuredly would give them a minimum of a 25% haircut if his neighbor’s house goes into foreclosure.
You complete economic illiterate. You think $70 billion will solve the housing problem?
Is this your idea of letting “Prices adjust to reality”?
Got a spare $1 trillion dipshit?
And it’s not just Santelli and friends. Man, you right wingers are just way to dumb for your own good much less the country’s. Grow the fuck up would ya?
You complete economic illiterate, Fuck off.
Anton:
Yea the gals a re really low rent.
santelli is the man. playboy is a crumbled empire that is on life support.
also, my guess about why the us govt is trying to protect bondholders is because they don’t want them liquidating treasuries to raise capital.
Fly ..re.Stupid robe is the same one you (as depicted on Fly show) wore ..odd no? And as for the outcome of this mess there is no solution other than take the pain. If its home owners that were dumb and forgot the old ” if it’s too good to be true axiom” they lose. The bankers who scammed…jail and confiscation of their assets . Same with Polititions..this will only occur through a populace uprising and demanding honesty and ousting all old guard ensconced in power. It will be bad but we as a country need a purge, or this will get worse . It is frightening but the only solution that will work..Same leaders= same fuckery
Flux, if the banks don’t get nationalized, then it is a very real possibility that homebuilders, retail, etc. will have to get bailed out. Think about it. Zombie banks can’t re-fi loans for commercial real estate. A bank that has been nationalized and then sold off will be able to lend.
Banks spun out of nationalization will not be papering over the problem to start the whole phoney-debt growth again. Think about it. There will be a return to sound lending principles, and because 95% of the populace is over-leveraged and in debt, their capacity to borrow will be in check.
Flux, if things continue the way they are now, getting worse, year over year, there will be social unrest. There is nothing, and I mean nothing to drive the economy. How can things get better from here with all of our money centers insolvent? There is no mechanicsm to finance growth, or even to maintain growth when major money centers are insolvent.
You are wrong about who pays for it. The American taxpayer will pay for it, no matter how it gets handled. Period. End of story. There is no other way. Prolonged depression, we pay. Nationalization, we pay.
When the gov’t goes to nationalize (and they will) it will be done over the weekend and they will have lined up the majority of the private equity in advance. The FDIC is hiring in huge numbers. The people will already be in place to make it happen. I believe the plan is in the works, but that it will probably be 6 months to line up the equity and hire/train the gov’t workers it will take to pull it off.
God willing, the current banking CEOs, CFOs, etc. will be banned from working for any bank spun out of nationalization.
Yeah, a Ken Lewis interview has been replaying on Bloomberg all weekend. That guy just doesn’t get it. I can’t believe that HE can believe the words coming out of his mouth.
Somebody set up a conference call between Wood a Timmy G, quick.
Also, good point, Aris: “…my guess about why the us govt is trying to protect bondholders is because they don’t want them liquidating treasuries to raise capital.”
Fuck everyone on this thread.
Start with your moms, yo.
I don’t see how we will be able to grow our way out of this enormous debt load if everytime worldwide GDP grows the prices of materials and energy skyrocket. Unless we figure out fusion in a hurry it appears we are really fucked whichever way we go. Total economic collapse or massive runaway inflation appear to be our only choices going forward.
Think about it. There will be a return to sound lending principles,
Says who? The fucktards from the DMV who’ll be supervising underwriting?
God willing, the current banking CEOs, CFOs, etc. will be banned from working for any bank spun out of nationalization.
You really believe that??? Keep dreaming.
The whole point of nationalization is to #1 help the Fed inflate, #2 let the upper crust avoid the total losses that they should be taking for making bad investments, and #3 to let the top dogs keep their jobs.
The American taxpayer will pay for it, no matter how it gets handled. Period. End of story. There is no other way. Prolonged depression, we pay. Nationalization, we pay.
Only if you subscribe to central planning theories of economics, Comrade.
The American taxpayer pays when a bunch of bank tellers get fired because their institution is insolvent, so we should print, borrow, or tax to make sure these people keep their jobs? Why have free markets at all? The gubmint should make sure nobody ever gets fired off anywhere ever again!
Social unrest is the price to be paid for Americans collectively making very poor financial and political decisions over the past 100 years.
It will be economic collapse followed by runaway inflation.
The underground economy is where it’s at. Employ yourself in a cash business like dealing drugs, pimping out your wife and daughter, shaking down pizza delivery drivers, etc…
Fly,
I’ve been fucking myself lately in preparation for the total ass raping to commence shortly. Do you happen to know what size plunger handle the government uses?
So they nationalize.
Then what?
Does anybody see a trade, here- say long certain banks whose execs have run their affairs prudently through this nightmare?
SHouldn’t they be invited to take over the mismanaged assets of Shiti, etc.,, or get rights of first refusal on taking worthless crap off the guvmint’s hands at whatever, say ten cents on the dollar?
BBT for sure.
Maybe USB.
The Canadian banks.
Others?
Fuck everyone on this thread who does not download digital snapshots for their annual X-mas cards.
__
Flux, you’re wrong. The American taxpayer will shoulder ALL the burden, regardless of nationalization.
It may be months or years down the road, but when that becomes evident, I hope you think of me.
Good debate dude.
Shed,
I understand the point you’re trying to make, that a little nationalization might not be a bad thing.
Unfortunately, taking your argument to it’s inevitable end, the taxpayer ultimately shoulders all the burdern for everything, hence the gov’t should control and manage everything (Communism, National Socialism, Leninism, Marxism, or whatever the statist flavor of the week is popular today).
I really hope I’m wrong. Long lead and brass, because I’m usually not.
Flux Capacitor
Just pulled out my RCBS “Rock Chucker Reloaded” haven’t used it in 10 years. All ready and set up. Been buying factory because Eastern Eur. stuff very cheap before base metals went nuts.I buy 1000 rnd.cases of all my most used calibers. Now wife thinks I’m brilliant lol First time in 20 years. Remember better safe than dead..
Flux, I understand your points as well.
My perspective, having 18, 7, 2 year old boys, is that I’d rather not have them realize the darker side of man at such young ages.
Berkshire is mostly an insurance co. that is doing pretty well. Geico is now no. 2 behind State farm and there were no hurricane payoffs last year. His equity holdings have been whacked lke the market has, but if the worst is over, Berkshire will do well. We are in a diving plane here – if it can pull up soon, there will be damage that can be repaired. If it doesn’t pull up soon…..
Braveflaps,
Look at RBNF
Maelstrom:
My wife used to think I was nuts, having 7.62 Tok and x54R piled up. Now she understands.
Shed:
Same here, preteen daughter and a 6mo son. I really don’t want them to grow up in a war zone. On the other hand, my wife grew up in the Soviet Union – she’ll be the first to tell you that government sucks at everything, nothing good will come of anything they try to do, and anything you believe about how nationalization “for the good of the people” is really just to line the pockets of those at the top.
Technically, National Socialism is illegal in the U.S. The Constitution was intentionally constructed to provide a barrier to the possibility of the United States taking a Socialist position and compete directly with Citizens. Unfortunately, treason has been rampant for sometime now. Unrest about this is obviously a foregone conclusion.
My concern isn’t the fact that we are headed to civil unrest. That won’t result in much more than “We the People” run this country, as it should be. My main concern is opportunistic foreign military activities while we put the Socialists in their place. We as a nation need to make sure that while we kick the Socialists down the stairs that we aren’t attacked by a foreign military or two. If the U.S. decides to use it’s military against it’s own people and leave us wide open to attack again, as they did on 9/11, then the Socialists may very well have a temporary victory against the people. Ultimately, however, they will lose though. It’s like I’ve said before. Socialism simply isn’t our bag. It is what it is and nothing is going to change it.
The only correct answer to this is for government to cut back on bullshit spending programs, start shutting down bullshit operations, and let the people run the country.
omfgitsjd :
The Constitution? Oh, you mean that old piece of paper. Get with the times, nobody’s even looked at that thing in the last 75 years. Andrew Jackson was probably the last President who actually read it.
Re: “foreign military activities” – are you out of your mind? Most small towns in the US are better armed than NATIONS in the rest of the world.
Flux,
You’ll have to excuse me, I’m a little outdated. I still believe in the Constitution. I know, it’s twisted and I should probably join the dinasaurs, where I belong.
Also, I don’t know where you live flux, but let me clue you in on a little secret. When the market collapsed last year, the Russians were engaging in joint operations with Venezuela in my fucking backyard and then stopping by Cuba with their Nuclear Fleet. Nothing short of a Cuban Missile crisis as far as I’m concerned. The idiots in Washington kicked back and laughed about it saying they were on a little R&R. If you think you are invulnerable, I can say beyond the shadow of a doubt that you are not.
CNBC and all of MEDIA is in trouble. They will do and say anything to get ratings. You and I have no real Idea what the White House knows about the real problems we face. Trust me I have worked on a lot of government projects and no one person knows enough on a project to figure it out so how do you FLY whores think you can figure this shit out and solve the problems. Get a fucking life. Get laid, If you have a family spend some time with them be positive and talk market and stocks. If you can’t tell which way the market is going how do you think you can solve government problems of the masses? Take what you get and make the best of it. This sounds like a lot of old men in a nursing home. [Look what the Bear Market is doing to you]
omfgitsjd:
Don’t worry about the Russians – trust me. I’ve been there.
They are fucking RABID capitalists. They know what happens when gov’t plays games with the currency (1998), and more important the CURRENT generation of Russian 20-somethings still remembers standing in line to receive food rations when they were children.
As far as the Fleet, fucking with the Euros over gas, etc – hey, they have leaders who actually put Russia first, and use available policy tools in the interest of the Russian people.
We should be so lucky, to have leaders who care about Americans more than they do about the illegal Mexicans, Indian computer programmers, and Chinese Communists.
NIKKEI and TOPPIX futures getting mawled by pitbulls (down 3.3% each).
Tomorrow, we clear DOW 7000. We tap 6000 in the next 10 days.
Write it down.
Just had a brief meet w/ the Trader Caddy. Wish it was longer but both our wives were pulling us in opposite directions. I did come away with a new almost pro golfer to root for-TC Jr.
Off to eat some grub with the fam in I’m not Sure Where tha Hell, Orlando.
___
Flux,
It’s obvious we are on the same page here. It’s not the Russians who are getting on my nerves. They are doing what’s best for their people. You are right, I’m probably just a little bit jealous.
By the way, on the subject of home invasions, did you folks see the failed home invasion in Arizona a couple of weeks ago?
This gang armed with machine guns attempted to invade a house. The homeowner fights them off with heavy machine gun fire.
Pretty crazy shit. Guns, baby. Guns.
http://www.youtube.com/watch?v=0gbxVyBkDNM&feature=related
Citicrap, nationalized or internationalized?
Blow,
Ah yes, be good sheep and get back to grazing.
I’ve heard that one before. Over, and over, and over before. It’s the primary strategy of the Socialists. Apathy and ignorance is their greatest weapon while they flood the nation with insurmountable debt to their own advantage and keep everyone on the slippery slope.
Phil,
I was just watching that Arizona invasion today. Some scary shit there!
Look for episodes of the media to crucify anyone like Santelli who doesn’t toe the line to continue. How are we to know that the Playboy article isn’t STAGED?…What seems to be the plan at this point is to get the public as riled up as possible,hoping some civil discord takes place…This will give the government the opportunity to inact martial law…GET IT??…They want something to happen to give them the excuse to ramp up a police state.
NWO,
Let me guess, you believe in this “black helicopter” story floating around on the web…
A tip of the hat to the FLY
XOM is ready for a swan dive! This will lead the DJIA lower!
The FLY is a true gentleman
If the morons would stop using the word, “nationalization”, and call it Chapter 11? That shootout in Arizona – was it near the OK Corral? That is just multiculturalism and diversity – that’s all. One has to to be curious as to why the particular home was selected? Drug smuggler maybe?
I thought the rant was staged the moment I saw it. If you can’t spot propaganda right away, you’re lost. The real issue is — why stage it? Why the fuck doesn’t the Fly address this? Maybe the Fly is only good at a few things.
Anyhow, if you follow media propaganda and people like Soros, you ultimately over time see the pattern of asshole elites playing both sides of every conflict. The fucking elites use their purchased media as a cathartic release valve to contain and control public anger.
They are now creating events constantly to make it seem like people are angry, when in fact what they are doing is fabricating angry people on TV and then demonstrating how they project their anger — by being nice, passive little sheep who don’t rock the boat too much. Rock it a little, but not TOO much. Because if the American people are the first to demonstrate anger, it’s going to be over the top fucking angry, and not some little tea party of TV.
And oh, what the fuck just happened in the news yesterday? Some midwest town had a little stupid tea party on the side of a river — how fucking passive and weak is that? What a fucking protest. Notice how the news tells you when to be angry, and how to protest because you are angry.
The Fly needs to learn more about how this shit works before he writes bullshit. Because I am not interested in subscribing to or reading bullshit.
As Jake stated above we had a brief but nice meeting in Orlando (all families pass through Orlando sometime).
Contrary to what you lefty Commies believe he does not have devil horns and is a good guy.
Reporting discrepancy in futes
http://www.bloomberg.com/markets/stocks/futures.html
http://www.cme.com/trading/dta/del/globex.html
I’ve never understood this phenomenon
More quotes (ten minutes delayed).
http://www2.barchart.com/mktcom.asp?section=indices