That seems fair.And very progressive.
Monday, March 30, 2009
US Auto Worker v. Wall Street Douchebag. Obama Goes With The Douche.
That seems fair.And very progressive.
Saturday, March 28, 2009
Monday, March 23, 2009
TARP II or Where The Fuck Is Volcker?
GD II was caused by bankers making ass-ton huge bets on housing with other people's money. Bets with no downside, as they got paid at year end on paper profits. Heads they win, tails you lose.
THE GEITHNER SOLUTION: Let bankers make ass-ton huge bets on housing with other people's money.
Bets with no downside as the taxpayer will put up 85+% non-recourse style. Meaning heads they win tails you lose.
How this ends in non-crying is difficult to fathom. Even Krugman hates it.
This combined with last week's Bernanke-fest print-athon effectively ends the Obama administration.
Nice +500 though.
I've seen this movie before. . . like 18 times.
It's called Greater Fool.
Guess who the fool is?
Wednesday, March 18, 2009
Federales Buy Own Bonds In Greatest-Ever Money-Printing Escher-Extravaganza!!
Gold reverses +$60 in sixty seconds.We should just do this forever.
Borrow fake money from ourselves until the end of time.
Just like magic!
But worse.
Friday, March 13, 2009
Revolutionary Road
Tom Friedman, who I enjoy, had a piece a few days ago about the severity of the economic crisis and how Barry O needed to focus on it to the exclusion of all else.I agree.
He ended his piece however, with the following:
Which is why I wake up every morning hoping to read this story: “President Obama announced today that he had invited the country’s 20 leading bankers, 20 leading industrialists, 20 top market economists and the Democratic and Republican leaders in the House and Senate to join him and his team at Camp David. ‘We will not come down from the mountain until we have forged a common, transparent strategy for getting us out of this banking crisis,’ the president said, as he boarded his helicopter.”
Sometimes I comment on these things, I really do not know why. Here's what I said:
"great piece Tom, big fan but you lost us on the final paragraph:
20 leading bankers = oxymoron.
20 leading industrialists = not American
20 leading economists = did not see this coming and perpetuated it.
bring in outside the boxers: Roubini, Schiff, Taleb, Volcker, Soros, Steve Jobs and non-beltway Wall Street types and we can solve this, the guys he/ you would have in the room right now, just aren't up to it."
— Brian, Los Angeles
People liked it. As a matter of fact it was the second most Reader Recommended comment at 487 recommendations. #1 was the usual partisan "all Republicans are awful" job, so not bad.
And so I feel pretty good about popular sentiment here, the idea that we get it while the Washington Wall Steet axis, including the MSM still clearly does not.
Then a couple days ago, I was hearing about the Slow Money Movement on the radio. Yes, it was NPR. Go ahead, make your own joke about the NYT, yoga and NPR. I was however, not drinking a latte at the time.
Any way, the point is, I see a revolution coming, hopefully peaceful, hopefully with enough people getting it within the system that the machine is not completely upended.
If it is upended, well then, we'll deal with it.
More on Slow Money next time. Have a great weekend all.
I'm going off the grid.
Survivalist training.
Thursday, March 5, 2009
Citi 1 Dolla, Dolla Bill or Panic Attacks are Useful
"Dick, it's Dubya, can I get borrow on a million shares of Citi? Yes, cool man, cool!! Thanks man, you were the best Vice ever!
Okay, now take it and sell it.
Yeah, if Obama's buying here, I'm a seller.
And hey man, don't tell the Prince but, this Sucker's going down!!!"
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