The Dodgers just filed for bankruptcy protection, validating the concept that paying baseball players exorbitant amounts of money, without having a proper budget in place, is equal to throwing $500 million on black at the roulette table. Actually, paying baseball players large sums of money without a return on said investment is far worse. I find it especially funny how the flagship sports team in California could not outlive the Pittsburgh Pirates. The problem with the Dodgers is the same problem with America, as a whole: we spend lots of money with the hopes that when things turn around, if ever, everything will be okay. Well, what if things suck dick for an extended period of time?
Answer: Dodgers.
As for Canada: fuck you people up there; at least we have postal service. If you’re not from Canada and live the George Bush (the dumb one) lifestyle, Canadian postal workers have been on strike since June 15th. ROFL. That’s some funny shit. Imagine how much mail is backed up right now? Fucking morons.
Futures are flat. I am expecting a little weakness during the opening hour or so. I will make decisions based upon the trading action to come.
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The best day to bank coin on the long side this week will be Wednesday…typical markup day.
Tuesday’s have been good too
and silver ? really really oversold now
“Western economies will still grow by 2% in 2011, despite high unemployment and a fucked up real estate situation. If you look at the Dow 30 components’ forward multiples, they are all low double digits, some high single digits. Understand, this is incredibly cheap, on a historical basis. It’s really, really hard for me to be bearish here, based on the fundies.”
The market is pricing in low forward multiples because that is what they will earn. The GDP is not forecasted low for the future because the GDP analysts are egomaniacs who always go 2 years backward and revise it lower.
Before you publish a post, Fly, know how wall street accounts for GDP and P/E multiples. I pardon your ignorance.
I fear he will not pardon your arrogance.
‘Til next moniker, adieu.
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I’m not buying the new normal just yet. It was minimum 6 -18 months for the easing cycle to filter through the economy (QE3) and the system is as easy as shit.
I think the second 1/2 will be pretty decent and next year could hit it out of the park.
Projections
Shut up
Is it that difficult ? Just buy ERY……….I know its just too slow .
Don’t knock the Pirates, they pnwed the Sox this weekend.
I’m rooting for the pirates this year.
Their GM is a great guy.
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Clint Hurdle is doing a great job.
Oh yah, Clint Hurdle, formerly managed the Tidewater Tides in the late 1980s, they were the New York Mets’ Triple-A affiliate back then.
39-38!! I have hope beyond April for the first time since I was a freshman in high school.
Was that back in the Stargill (sp?) days?
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ha…unfortunately, I have no recollection of that era. Lets just say memories of a hobbled Sid Bream rounding 3rd and Barry Bonds throwing a whiffle ball from ‘deep short’ still haunt me.
I used to live near Sid after he retired. Our kids played little league together, he coached a team, and we went to the same church. If anyone was going to score than run I’m glad it was Sid. One of the nicest guys I’ve ever met.
Don’t underestimate the impact the Basle agreement has on bank stocks in of itself. People were expecting higher capital requirements than 2.5% and the announcement on the weekend is very good for banks vis a vis expectations. I’m not saying this will turn into a bull market for banks, but this overhang is now out of the way and it wasn’t that bad.
I also think it will have the effect of cheapening the deposit base of the 30 odd banks that will form the too big to fail group thereby being looked on as helping their profitability rather then inhibiting it greatly. That should be a big turn around in expectations.
just think out loud here.
Is JC the same poster as Ozzie J?
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oops sorry.. Yea…
Don’t diss Canada too much, they did produce the best television comedy from recent memory- The Trailer Park Boys.
Fly, you do seem to have more than a few Don Cherry like qualities….
OMG! Fly thinks we suck. Whatever will we do?
Ha ha ha.
Emigrate?
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The Posties were hoping for some tanning time with rolling strikes, and the ability to service their bills. Canada Post kicked their ass to the curb.
They will likely be forced back to work by the government this week…….
I am surprised that you use such a service, when the venerable Fed Ex can deliver your good tidings to your outstanding northern neighbors..
fed-ex has been sleeping with the post office for years. if the p.o. dropped them,fed-ex would be a 30 dollar stock
The worst part is the god damn socialist/communist NDP party tried to delay the bills to force both the Air Canada employees and Canada Post workers back to work.
Democracy is an enemy of efficiency.
Fly,
Your assessment of the Dodgers is incorrect in that it’s really a tale of a man and his family that has drained the team of 700 million for personal use over their 7+ years of team ownership. Really has very little to do with the biz model.
This is correct. The kids were on the payroll and didn’t have anything to do with the team. I have no sympathy for the McCourts.
…and unlike the Mets, they don’t have friends in high places.
LOL…Fly thinks Canada sucks. The Canadian banking system is the envy of the world right now. Sounds like more U.S. douchebag jealousy. So sad…
Anyone with half a brain knows that mail is only good for retarded senior citizens who are too old to get their pension money deposited directly in their account. That and 3/4 of the pathetic U.S. population receiving food stamps.
Ha! Well said !!!
A Canadian subscriber.
Except that like most countries – government documents, banking, insurance, credit card payments, telephone/tv bills, phone bills, university enrollment etc. all require postal service.
You still pay your phone/credit card/TV/Internet porn bills through the post office? What are you, like 80? No one in the US can afford to go to university anymore.
I sense a bit of jealousy. I suppose at least we don’t need to worry about our country pulling a ‘Dodgers Maneuver’ and going bankrupt as opposed to the good ol US and A.
As for the postal service, I really didn’t miss the 48938 flyers I would have normally got in the mail. They will be back to work tomorrow. They have this thing called the internet now that can transmit messages quite nicely.
As for Canada post they have to still deliver the mail lol
Great union they have lol