May 25, 2010

Tuesday Market Forecast: Gird Your Loins
— Monty

Stocks are probably going to open sharply lower today on a buffet of bad news coming in from around the world.

Let's just take a quick survey.

Tension in the Korean peninsula.

The Euro crisis shows no sign of improving.

Spain may be facing a wave of bank-nationalizations and strikes as austerity measures are put into effect. This is sure to make the credit-rating companies nervous, and may prompt a downgrade of Spain's debt.

The Deep Water Horizon oil-spill has now washed ashore in Louisiana. Even Obama's allies are beginning to wonder if this might be Obama's "Katrina" moment.

Happy Tuesday, Morons.

Posted by: Monty at 05:15 AM | Comments (173)
Post contains 114 words, total size 1 kb.

1 Who's up for a game of golf?

Posted by: Barack Obama at May 25, 2010 05:19 AM (FkKjr)

2 Plus quadruple oil tax and 165 billion pension bailout

Posted by: alo89 at May 25, 2010 05:19 AM (n80kj)

3

Heh.. didn't even need to read the byline to know this was a Monty post.

Good Morning, Monty!

Posted by: IreneFingIrene at May 25, 2010 05:20 AM (JKe0g)

4 But it chafes when I gird my loins.

Posted by: Andi "Moisterizing Cream" Sullivan at May 25, 2010 05:20 AM (PlDo7)

5 The Deep Water Horizon oil-spill has now washed ashore in Louisiana.

After more than a month of the MFM blaring non-stop about worst oil spill ever, and reporting potential worst-case scenarios as fact, they finally have some pictures to go with their manufactured outrage.

Posted by: Waterhouse at May 25, 2010 05:22 AM (u+34p)

6 Yep, PA would have had some numbers up there.

Posted by: Jean at May 25, 2010 05:22 AM (6Njk9)

7 He's the fucking Messiah!! he can part oil AND water!! GOLD BITCHEZ!

Posted by: UGrev at May 25, 2010 05:24 AM (862vz)

8 The oil took 35 days to come ashore.That is the power of Obama!!

Posted by: steevy at May 25, 2010 05:24 AM (Du+uu)

9
Some good news.. Ogabe's new approval is 42% according to Drudge (on Rasmussen, I guess).

Posted by: IreneFingIrene at May 25, 2010 05:25 AM (JKe0g)

10 Some days it's good to be broke.

Posted by: Bugler at May 25, 2010 05:25 AM (VXBR1)

11
Dictator for "just a bit" Obama and the democrats are in control.

Posted by: Lemon Kitten at May 25, 2010 05:25 AM (0fzsA)

12 Stocks are probably going to open sharply lower today on a buffet of bad news coming in from around the world.

I wouldn't bet on it. The market's reason is no longer a market's. But it could happen. Because who knows what stability wants? Not us.

Regardless, if you're still in and you're not in, you deserve to lose your money.

Posted by: oblig. at May 25, 2010 05:25 AM (x7Ao8)

13 GOLD BITCHEZ!

Did I accidentally click on zerohedge?

Posted by: Waterhouse at May 25, 2010 05:25 AM (u+34p)

14 Asia was off 3% overnight and CAC the same. Comp bet - the Dow under 10K before or after lunch?

Posted by: Jean at May 25, 2010 05:26 AM (qU2w5)

15 On a personal note, I may have to buy an auto for a sales gig that would cover 3 states.  The company provides a $550 allowance plus pays fuel.

Anyone really smart about this type of decision who cares to weigh in?  I refuse to buy American Obama-made and I'm open to a mid-sized SUV (actually my preference).  4 doors is a requirement. 

Thanks for any suggestions. 

Posted by: The Hammer at May 25, 2010 05:26 AM (YBTwf)

16 I don't want to be a conspiricy nut but I can't help but feel that THEY wont let the down go below 10k.

Posted by: steevy at May 25, 2010 05:26 AM (Du+uu)

17

Always great to start out the day with a note of fresh optimism...  /sarc

The market moves could be read a couple different ways.  On the one hand, perhaps we are about to plunge into a doomsday scenario of economic collapse.  Given my hate for the people running the world these days there's part of me that is prone to believe that.  On the other hand, I doubt that the world is ready to fully implode yet, and it can be good to buy on the panic. And if the world does fall into chaos, money will suddenly not mean much anyway, so there will probably be little time wasted mourning bad stock picks.  There may be merit in just keeping your eyes on some good quality stocks and watching for your moment.  I have been watching a few that are producing some dividend yields that suddenly look rather attractive.

Posted by: Reactionary at May 25, 2010 05:27 AM (xUM1Q)

18 steevy it closed at less then 11K last night right, I don't think the Fed can act fast enough to keep it above 10K.

Posted by: Jean at May 25, 2010 05:28 AM (OlnxK)

19 Yikes: at the open, DJIA is down 151 points to 9914.82.

Posted by: Monty at May 25, 2010 05:31 AM (4Pleu)

20 Invest in lead.

Posted by: FUBAR at May 25, 2010 05:32 AM (1fanL)

21 Captain, we have a hull breach in sector 10,000.

Posted by: Waterhouse at May 25, 2010 05:32 AM (u+34p)

22 Still plummeting, too: now down 231 points. Whee!

Posted by: Monty at May 25, 2010 05:32 AM (4Pleu)

23 Red Alert.

Damage control to the Dow, on the double!

Posted by: Techie at May 25, 2010 05:33 AM (wVPwI)

24 Down 250 and falling.

Posted by: TheQuietMan at May 25, 2010 05:33 AM (1Jaio)

25 Sorry Waterhouse.. I couldn't resist.. lol

Posted by: UGrev at May 25, 2010 05:34 AM (862vz)

26 no worries.....i'm sure it's just someones fat finger!

Posted by: phoenixgirl at May 25, 2010 05:34 AM (ucxC/)

27 Who is this THEY bullshit and where the hell is Fegelein? "Fegelein! Fegelein! Fegelein!"

Posted by: Downfall Hitler's Last Parody at May 25, 2010 05:34 AM (H6lGz)

28 The only bit of good news to be seen is that oil is at 67.70.

Posted by: Retread at May 25, 2010 05:34 AM (Zz3EL)

29 22 Captain, we have a hull breach in sector 10,000.

We're just hanging on, sir. The main energizer's out!

Posted by: Scotty at May 25, 2010 05:34 AM (9hSKh)

30 Hammer, I've rented an Escape and Flex recently. They all drove well. Flex looks funny but is a good highway driver. If your a bigger guy, secure in your manhood, the Flex wouldn't be a bad option. The Escape is good, maybe a little tight after 6 hours though. I have also rented the Excursion and Explorer -- which are horrible driving cars.

Posted by: Jean at May 25, 2010 05:35 AM (JaO+v)

31 Don't look at me.

Posted by: Mr. Fat Finger at May 25, 2010 05:35 AM (I7L+g)

32 Have I mentioned how many jobs I've created or saved or funded?

Posted by: Barack "Adam Smith" Obama at May 25, 2010 05:36 AM (1fanL)

33

One thing everyone is forgetting the Dow falling like this is ALL BUSH'S FAULT!!!!

Posted by: TheQuietMan at May 25, 2010 05:36 AM (1Jaio)

34

This is the last time i take investment advice for Mortimor and Randolf Duke.

 

They lured me with the sales pitch, "We've got whiskey".

Posted by: Ben at May 25, 2010 05:36 AM (wuv1c)

35 16 I assume you want highway mileage in the 20s and comfort?  Ford Escape, Ford Edge, or Toyota Highlander for smaller SUV/crossover types.   If you want a car, just get a Camry or Fusion and be done with it

Posted by: Hatchet Five at May 25, 2010 05:37 AM (rSoCo)

36 I was going to give the Dow until lunch time, thought it would adsorb alot of euro refugees - couldn't even get a cup of coffee.

Posted by: Jean at May 25, 2010 05:37 AM (vb5IK)

37 the hammer i currently drive an acadia.........when the lease is up i'm going audi q7 as my first foreign auto i do like the look of that ford crossover but i need a 7 seater

Posted by: phoenixgirl at May 25, 2010 05:37 AM (ucxC/)

38 Dammit, Scotty, get us out of here.

Posted by: Techie at May 25, 2010 05:37 AM (wVPwI)

39 22 Captain, we have a hull breach in sector 10,000.

* ON SCREEN computer graphics, red flashing lights indicate damaged areas - energy, overseas tensions, the Euro-experiment failing, health-care, financial stability, trust in American power*
*Spock steps up to Kirk evaluating the display*

The liberals knew exactly where to hit us.

Posted by: Spock at May 25, 2010 05:38 AM (9hSKh)

40 Remain calm.  All is well.

Posted by: Barack "Kevin Bacon" Obama at May 25, 2010 05:38 AM (1fanL)

41 31...Jean, thanks...really prefer nothing UAW union thug made, but I will give Ford credit for making the Edge, Escape, and Taurus look relevant. 

Posted by: The Hammer at May 25, 2010 05:38 AM (YBTwf)

42 stock market is only off 250 points in the first 8 minutes of trading

Posted by: ziggyee at May 25, 2010 05:38 AM (UCvnl)

43 #16

BMW 3 Series.

Posted by: Navin R Johnson at May 25, 2010 05:38 AM (HpT9p)

44 The only bit of good news to be seen is that oil is at 67.70.
Posted by: Retread at May 25, 2010 09:34 AM

Not good. Indicator of slow growth, which for me is cool. All in cash over here and enjoying my popcorn. Come on bargains!

Posted by: jcjimi at May 25, 2010 05:39 AM (I7L+g)

45 Dammit Jim, I'm a doctor, not Barack Obama!

Posted by: Leonard McCoy at May 25, 2010 05:39 AM (1fanL)

46 39 Dammit, Scotty, get us out of here.

One thing is certain; we cannot escape by continuing to bankrupt our children's children's children.  

Posted by: Spock at May 25, 2010 05:39 AM (9hSKh)

47

Hammer

the Rav4 is a great car. I don't know if Toyota is still offering that 60 month at 0 percent, but i would look into it.

Also, if you are worried about the recall, just make sure you buy one that has the letter "J" infront of the VIN numbers. The J means it was made in japan. It is the ones built in america that were having the pedal issues.

Posted by: Ben at May 25, 2010 05:40 AM (wuv1c)

48

Does anyone else feel like America's collapse will resemble Jonestown?

Just be weary when the government starts offering everyone free drinks.

Posted by: Ben at May 25, 2010 05:41 AM (wuv1c)

49 Now at -291.

Actually, this is more like the opening scene of The Abyss at this point.

Posted by: Techie at May 25, 2010 05:41 AM (wVPwI)

50 31 The "Taurus X" would be another option; similar in size to the Flex, without the funky shoebox look.  My wife drives an '07 Edge that we've put 58,000 miles on and we love the thing.  Gets 22-24 MPG highway with me flogging it 80+ out across the Western states and goes 400 miles on a tankful.  Great power and handling as well.  All the Ford crossovers (and the Taurus) now use the same drivetrain; it is excellent now that the few bugs have been worked out.

Posted by: Hatchet Five at May 25, 2010 05:41 AM (rSoCo)

51 Hammer, I thought all of the light truck/SUV plants were union; maybe not Toyota - but they been having some issues lately.

Posted by: Jean at May 25, 2010 05:42 AM (JaO+v)

52 One thing is certain; we cannot escape by continuing to bankrupt our children's children's children.  

Posted by: Spock at May 25, 2010 09:39 AM (9hSKh)

The good of the many outweighs the good of the few, you socialist.

Posted by: A Collectivist at May 25, 2010 05:42 AM (1fanL)

53 Well if everything is tanking, where the fuck is the money going?

Posted by: citizen khan at May 25, 2010 05:42 AM (laHLh)

54

Oh please, the reason the stock market is dropping is because I just put some money in late last week.

It will go up soon after I sell some stock.

/I have the power.

//Plus my towel.

Posted by: ArandomPerson at May 25, 2010 05:43 AM (MSMPS)

55 EPANTSIPAAAAATION!!!!

Posted by: Barack "Braveheart" Obama at May 25, 2010 05:43 AM (QKUk+)

56 Damn! Down 270 points. I'm seeing that old submarine flick Gray Lady Down... Dive! Dive! Dive!

Posted by: Monty at May 25, 2010 05:43 AM (4Pleu)

57 man, what fun! I keep hitting refresh on scotttrade, and watch the number change by the second!

Posted by: ziggyee at May 25, 2010 05:43 AM (UCvnl)

58 It's O.K. I got land, farming equipment, blacksmith tools, etc. Tons of guns, truckloads of ammo. The equipment to roll my own from lead and brass. And, oh yeah, an attitude...

Posted by: maddogg at May 25, 2010 05:43 AM (OlN4e)

59

One thing is certain; we cannot escape by continuing to bankrupt our children's children's children.  

its ok. the robots and neosapians will have taken over at that point anyway. it'll be their problem then

Posted by: Ben at May 25, 2010 05:43 AM (wuv1c)

60 Well if everything is tanking, where the fuck is the money going?

Posted by: citizen khan at May 25, 2010 09:42 AM (laHLh)

You poor, simple soul.  Boosh!

Posted by: FUBAR at May 25, 2010 05:44 AM (1fanL)

61 ZeroHedge is saying we broke the NYSE...........

Wow.


Posted by: Techie at May 25, 2010 05:44 AM (wVPwI)

62 Hussein O is nearing the scorched earth phase of his plan.  If you noticed, he said a while back that he didn't care if he was re-elected or not.  I think he knows that he won't be.  To me, that means he's out to do the most damage he can while he still has enough control to do it.  Look around.  How can anyone with a brain deny that he is trying to damage this great nation in every way possible.  Spending like a drunk sailor, giving up State secrets, telling out enemies how we plan to fight them, nationalizing industries and banks, being incredibly devisive, letting the gulf fill with oil just so he can use the disaster to generate more taxes and further restrict drilling.  It's simply amazing.  I can't help but think what past generations would be thinking and doing right now.  We've come so far in the past several years.  Carter was bad, but he was just ignorant.  I don't think he had an agenda to destroy this country so it can be re-made in the image of Soros.  And to drastically change the subject; who would have thought that a mere 9 years after 9/11 we would have a mosque going up within rock throwing distance of the World Trade Center?  And who would have thought that 7 years after 9/11 we would have a President with the name Hussein?  Personally, I can't comprehend that.  What in the hell is going on with this country?  We've got to act now, and act deliberately with passion if we are going to salvage what's left of this country.  We are long past crisis - we are at the breaking point and teetering over the edge!

Posted by: havedash at May 25, 2010 05:44 AM (UTFx7)

63

The euro thing is capitalism's fault.

The Spain issue is capitalism's fault.

The oil spill? Capitalism.

And why did those imperialists in Seoul put a ship in the way of the peaceful torpedo launched by the People's Republic of Korea?

Obama/Biden '16!

Posted by: WaterCow at May 25, 2010 05:44 AM (cQyWA)

64 Hammer, so I go to the UAW page for Union made cars - to do a little exception filtering -- and ... http://tinyurl.com/c9g9kn

Posted by: Jean at May 25, 2010 05:44 AM (PjevJ)

65 isn't it lovely that barack obama is going on vacation this weekend. not only is he going to miss out of that whole memorial day thingie, but he'll be chillin out, relaxin, maxin and shooting some b-ball all while the gulf coast states are destroyed.

Posted by: Ben at May 25, 2010 05:45 AM (wuv1c)

66 Great post Monty!  Too bad the state of the world sucks.  At least my little piece of it is looking up though.  Happy Tuesday!

Posted by: NC Ref at May 25, 2010 05:45 AM (RUdpD)

67

Everybody calm down. I have decided to raise taxes on Iran and China. This will stop the Dow plummet. I have decided to attack South Korea for their aggression and placing Janet "Cluebag is empty" Napolitono in charge of BP. So consider this disaster over. I have declared the state of Isreal disolved and Al Sharpen with be the new leader of Obamastan. The world should thank me for what I have done and I think I will change my initials from BHO to JC.

Posted by: Barack Obama at May 25, 2010 05:45 AM (k7Ddt)

68 This should good for at least 10,000 dem seat this November.
It's common sense.

Posted by: poondragon at May 25, 2010 05:46 AM (E5V01)

69 53....that depresses me....it's so hard to have scruples.

 

Posted by: The Hammer at May 25, 2010 05:46 AM (YBTwf)

70 I think I will change my initials from BHO to JC.

Posted by: Barack Obama at May 25, 2010 09:45 AM (k7Ddt)

Just Chillaxin'?

Posted by: FUBAR at May 25, 2010 05:46 AM (1fanL)

71 Well if everything is tanking, where the fuck is the money going?

Posted by: citizen khan at May 25, 2010 09:42 AM (laHLh)


In that hermetically sealed jar on Funk & Wagnal's back porch?

Posted by: Retread at May 25, 2010 05:46 AM (Zz3EL)

72 What me Worry?

Posted by: Barry E Newman at May 25, 2010 05:46 AM (vSiVD)

73 Are there any brakes on this thing?

Posted by: The Stock Market at May 25, 2010 05:47 AM (E5V01)

74 Dude, that Spain article is a year and a half old.  But other than that..... wheee!

Posted by: chemjeff at May 25, 2010 05:47 AM (Gk/wA)

75 Good thing that Barry put an end to all of the market's wild fluxuations

Posted by: TheQuietMan at May 25, 2010 05:47 AM (1Jaio)

76

Fubar,

I saw that...I am sending Hillary to your house to give you a BJ. That should scare enough to shut-up......

 

Posted by: Barack Obama at May 25, 2010 05:47 AM (k7Ddt)

77

I know I feel so much better when the waters are roiling when the Captain's most meaningful executive experience was...nothing.

At this point, out best alternative might be to dig up the corpse of James Buchanan and swear it in...

Posted by: Circa (Insert Year Here) at May 25, 2010 05:48 AM (B+qrE)

78 NYSE just invoked Rule 48.

Posted by: Monty at May 25, 2010 05:48 AM (4Pleu)

79 55 Well if everything is tanking, where the fuck is the money going?

I got some of it

Posted by: Midias at May 25, 2010 05:49 AM (vSiVD)

80

I know I feel so much better when the waters are roiling when the Captain's most meaningful executive experience was...nothing.

Posted by: Circa (Insert Year Here) at May 25, 2010 09:48 AM (B+qrE)

You ain't never seen the organizin' I'm about to put on yo' ass.

Posted by: Community Organizer in Chief at May 25, 2010 05:49 AM (1fanL)

81 Oh Monty; such a harbinger of good news you are.  Keep in mind that I am retired and over half of my current income comes from dividends.

I would surely hate to try to go back to work.

Posted by: Vic at May 25, 2010 05:50 AM (6taRI)

82

what we need is a major war we're not involved in. That way we can make a profit selling weapons, and giving loans to each side.

The Krauts and Japs saved FDR's Presidency, we need to countries to step up and start a war that costs tens of millions of live so that Obama doesn't go down as one of the worse presidents in history.

I think that if Obama should lose in 2012, that the Republicans should offer legislation to create a new coin worth 1/1000th of a penny and be adorned with Obama's face. I think it truly would be a fitting tribute to a totally worthless man.

 

Posted by: Ben at May 25, 2010 05:50 AM (wuv1c)

83 NYSE just invoked Rule 48.

Dare I ask what that entails?

Posted by: Techie at May 25, 2010 05:50 AM (wVPwI)

84 With the absolutely fabulous job Hildebeast has done as part of the megafucktard machine cornholing the country, can there be any doubt her fat ass will run for POTUS on her awesome record?

Posted by: maddogg at May 25, 2010 05:50 AM (OlN4e)

85 You know, I went out shopping this weekend and spent a crapload of money.  Part of my rationale?  There's no point in saving it, since I'm not getting any interest at the bank and I'm not about to play the market right now.  I kind of meant it as a joke but it's not really funny.

Hell, part of me is wondering if I should have used my credit cards instead of paying cash.

Posted by: alexthechick at May 25, 2010 05:51 AM (8WZWv)

86 Steady men, don't fire until you see the whites of their short sell certificates.

Posted by: General Ulysses S Blumenthal at May 25, 2010 05:52 AM (PlDo7)

87

isn't it lovely that barack obama is going on vacation this weekend. not only is he going to miss out of that whole memorial day thingie, but he'll be chillin out, relaxin, maxin and shooting some b-ball all while the gulf coast states are destroyed.

And if Bush did this, the MFM would be at full throttle crisis mode. Keith Olbermann would have hyperventillated by now. Crissy Matthews would have passed out from the lack of oxygen hitting what little gray matter he has, and Jack Cafferty's poll question would be who was worse: Bush or Hitler?

funny you should say that. Cafferty has turned on Obama. who knew that Cafferty was such an anti illegal immigrant advocate

Posted by: Ben at May 25, 2010 05:52 AM (wuv1c)

88
I know I feel so much better when the waters are roiling when the Captain's most meaningful executive experience was...nothing.

Just imagine how badly we'd be fucked if he was actually competent at anything.

Posted by: Hatchet Five at May 25, 2010 05:53 AM (rSoCo)

89

I would surely hate to try to go back to work.

Vic,

No worries--Ford will hire 170 production workers.  Our worries are over, Katie [expletive deleted] Couric and the wreck of Ed Murrow's Empire said so last night.

Get your applications in now, you 18%!!!!

Posted by: Circa (Insert Year Here) at May 25, 2010 05:53 AM (B+qrE)

90 Any guesses on when the S&P 500 will break below 1000?

Posted by: Heorot at May 25, 2010 05:53 AM (Nq/UF)

91 NYSE just invoked Rule 48.

Obama is going to invoke Directive 10-289

Posted by: Ben at May 25, 2010 05:53 AM (wuv1c)

Posted by: curious at May 25, 2010 05:54 AM (p302b)

93

Back to -214.

Good morning to all the bright-eyed and bushy-tailed workers of economic CGI at the Fed!!!!

Posted by: Circa (Insert Year Here) at May 25, 2010 05:54 AM (B+qrE)

94 I want to remind everyone that the Dow is mainly an indicator of mood -- the real action, as always, is in the debt markets, not the equity markets. The Libor-OIS spread is now back where it was a year ago. This means that banks are charging higher rates to loan to each other, which makes credit more expensive. Sovereigns and states that have to roll their debt thus have to pay higher rates to borrow money, which in turn can accelerate the rocket-sled ride to insolvency.

Posted by: Monty at May 25, 2010 05:55 AM (4Pleu)

95 glad i picked up some shares of GLD in my IRA. it is the only investment stil in the green

Posted by: Ben at May 25, 2010 05:57 AM (wuv1c)

96 A good explanation of NYSE Rule 48. (Look at the bottom of the page.)

Posted by: Monty at May 25, 2010 05:58 AM (4Pleu)

97 Sorry, Monty--you try to hide it--but everything you type screams:  SEDITIOUS RACIST!!!!

Posted by: Circa (Insert Year Here) at May 25, 2010 05:58 AM (B+qrE)

98 Wonder what kind of auto-triggers kick(ed) in at 9,999........

Posted by: Techie at May 25, 2010 05:58 AM (wVPwI)

99

EUO

double short the euro is doing quite well

Posted by: Ben at May 25, 2010 05:59 AM (wuv1c)

100 also, goldman sachs up today.

Posted by: Ben at May 25, 2010 05:59 AM (wuv1c)

101 Praise Allah for Mullah Obama......

Posted by: OBL at May 25, 2010 05:59 AM (k7Ddt)

102 Hell, part of me is wondering if I should have used my credit cards instead of paying cash. That's the hell of it, and it's one of the really bad side-effects of the Keynesian theory. It punishes savers and practically forces everyone to go long on the dollar, because to Keynesians, liquidity is all. It's only rational when credit is cheap to accrue debt: you take on debt in "real" dollars, and then when the inevitable inflation takes place, you pay off the debt in inflated dollars.

Posted by: Monty at May 25, 2010 06:01 AM (4Pleu)

103 That SOB Bush is at it gain. Please President Obama save us .......

Posted by: Howard Dean at May 25, 2010 06:01 AM (k7Ddt)

104 I predict a rally and the market stays at 10k.They need to cover up the truth until the last moment.

Posted by: Obama at May 25, 2010 06:02 AM (Du+uu)

105 114 Fuckin' smelly sock,off with you!!

Posted by: steevy at May 25, 2010 06:03 AM (Du+uu)

106 Let's not forget that the Italians just made it illegal for cash transactions over 5000 Euros. What's the mob to do ...

Posted by: mastour at May 25, 2010 06:05 AM (kTTiP)

107 Waaaaah!

This Austerity® medicine tastes icky, Mommy!!

Posted by: PIGS at May 25, 2010 06:06 AM (DRoHA)

108 Bush to be blamed in 5, 4, 3, 2, 1....

Posted by: Kratos (missing from the side of Mt Olympus) at May 25, 2010 06:07 AM (9hSKh)

109 Rule 48 = Airbrakes

Posted by: Jean at May 25, 2010 06:08 AM (JaO+v)

Posted by: Monty at May 25, 2010 06:09 AM (4Pleu)

111 you take on debt in "real" dollars, and then when the inevitable inflation takes place, you pay off the debt in inflated dollars.

That's exactly what I was thinking.  I'm caught in the middle of trying to work out something with my student loan and everything's at a dead stop because the lenders have no freaking idea what the new law really means.  Oh, it's fun.

Posted by: alexthechick at May 25, 2010 06:09 AM (8WZWv)

112 ♫ Caught in a bad romance!♫

Posted by: Easy Bake at May 25, 2010 06:09 AM (hVdJG)

113 "Let's not forget that the Italians just made it illegal for cash transactions over 5000 Euros. What's the mob to do ..." --- I'm sure there is a loophole in that law for bribes.

Posted by: Jean at May 25, 2010 06:09 AM (JaO+v)

114 Comrades, welcome in the glorious new age of the Obama economy. Soon yes soon you will live in a workers' paradise just like they have in Cuba and Venezuela. No more evil capitalism to exploit the workers. No more evil stock market to exploit the workers. Now everything will be fair and evenly distributed. Comrade Chairman MaObama will soon make this declaration from his new presidential palace.

Posted by: TheQuietMan at May 25, 2010 06:10 AM (1Jaio)

115 Does "gird your loins" mean anything like "pull your pud"? Because that, I can do

Posted by: Joe Biden at May 25, 2010 06:10 AM (9Sbz+)

116

@122

There's a strange little typo in that story that is sooooo ironic:

"When you loot at recent trends, there are signs of renewed weakening in home prices," he said in a statement.

(I think I'm experiencing a Randian moment...)

Posted by: Warthog at May 25, 2010 06:11 AM (WDySP)

117 George Bush!!11!!!!! Evil incarnate!!11!!!!! WAAAAAAAHHHHHH!!11!!!!!

Posted by: Progressive Retard Chorus at May 25, 2010 06:12 AM (pLTLS)

118 So, if lil' Kimmy-chan decides he wants to go out with a bang, we should really short KIA and LG?

Posted by: Techie at May 25, 2010 06:14 AM (0jfXM)

119 I went all cash almost exactly a year ago (saving for a house and baby and basically not wanting any part of the market). I felt pretty dumb as the market inexplicably climbed for the rest of 2009...but I'm starting to feel vindicated.

A little.

Posted by: tachyonshuggy at May 25, 2010 06:15 AM (BUlti)

120 I felt pretty dumb as the market inexplicably climbed for the rest of 2009...but I'm starting to feel vindicated. Lots of investors are feeling the same way you do. Sovereigns have been fucking about with the markets so much that it's like playing the tables in Vegas: long-term you always lose and the house always wins. They win because they can print money. Like I said: I've never been a gold-bug, but I am certainly becoming a fan of a move back to an asset-backed currency regime.

Posted by: Monty at May 25, 2010 06:18 AM (4Pleu)

121 Monte - my fear is if we tried to move back to an asset based currency now, the world would go to an oil backed note.

Posted by: Jean at May 25, 2010 06:20 AM (tJF9l)

122 man it's days like these where i just want to crawl up and go back to bed

thank god happy hour is just a few short hours away

Posted by: chemjeff at May 25, 2010 06:21 AM (Gk/wA)

123

From the Financial Times

The Obama administration made a strong plea to Congress on Monday to grit its teeth and pass a new set of spending measures – dubbed the “second stimulus” by some economists – in order to help dig the economy “out of a deep valley”.

The call for action, which was made by Lawrence Summers, Barack Obama’s senior economic adviser, who urged Congress to pass up to $200bn (£138.9bn) in spending measures, came at the same time as Mr Obama asked Capitol Hill to grant him powers to cut “unnecessary spending”...

Stimulus 1 worked so f-ing well let's do Stimulus 2

Posted by: TheQuietMan at May 25, 2010 06:21 AM (1Jaio)

124

And here's more good news from racist Fox Business news

A Democratic senator is introducing legislation for a bailout of troubled union pension funds.  If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.

The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions for union workers, is being introduced by Senator Bob Casey, (D-Pa.), who says it will save jobs and help people.

As FOX Business NetworkÂ’s Gerri Willis reported Monday, these pensions are in bad shape; as of 2006, well before the market dropped and recession began, only 6% of these funds were doing well.

Although right now taxpayers could possibly be on the hook for $165 billion, the liability could essentially be unlimited because these pensions have to be paid out until the workers die.

Just what we need more bailouts for union thugs

Posted by: TheQuietMan at May 25, 2010 06:25 AM (1Jaio)

125 I hope you all remembered to include your loins on the census.

Posted by: Easy Bake at May 25, 2010 06:25 AM (hVdJG)

126

Monty I am certainly becoming a fan of a move back to an asset-backed currency regime.

Do not fear, pathetic humans; we are here to help.

Posted by: The Ronulans at May 25, 2010 06:25 AM (9Sbz+)

127 Thanks for any suggestions. 

Posted by: The Hammer at May 25, 2010 09:26 AM (YBTwf)

BMW X5.

You will be happy and chicks dig it. X6 if you want all the chicks to dig it.

Posted by: Rat Patrol at May 25, 2010 06:26 AM (dQdrY)

128

The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions for union workers, is being introduced by Senator Bob Casey, (D-Pa.),

It is a good thing they didn't vote for that homophobe Rick Santorum.

Giggle. I said "Santorum".

Posted by: Andy Sillyvan at May 25, 2010 06:27 AM (9Sbz+)

129 This is just another example of a stong V shaped recovery!

Posted by: Larry Kudlow at May 25, 2010 06:30 AM (fwSHf)

130 Too bad the V is gonna be upside down.

Posted by: Rat Patrol at May 25, 2010 06:33 AM (dQdrY)

131 Funny thing I head someone on the radio talking about inflation and then mentioned the commodity market has dropped about 15% since the beginning of the year.

/sark on

Very incise analysis

/sark off

Posted by: Ludicrous Speed at May 25, 2010 06:34 AM (LdYLm)

132 thank god happy hour is just a few short hours away

Go with my motto:  It's Happy Hour somewhere.

Posted by: alexthechick at May 25, 2010 06:35 AM (8WZWv)

133 BTW,  Gold is a commodity. At the last Great Depression, commodities dropped 60%. Gold is not an investment, it is a hedge.

Posted by: Ludicrous Speed at May 25, 2010 06:35 AM (LdYLm)

134 Today I'd like to call for a renewed focus on diplomacy.

Posted by: Pres. TOTUS at May 25, 2010 06:37 AM (GwPRU)

135
As FOX Business NetworkÂ’s Gerri Willis reported Monday, these pensions are in bad shape; as of 2006, well before the market dropped and recession began, only 6% of these funds were doing well.

But (ITzbJ)says Pension plans work out very satisfactorily in properly managed corporations.

How could he possibly be wrong?

Posted by: Ed Anger at May 25, 2010 06:37 AM (7+pP9)

136 148 Today I'd like to call for a renewed focus on diplomacy.

Posted by: Pres. TOTUS at May 25, 2010 10:37 AM (GwPRU)

I'd also like to call for a focus on my Wookie's, I mean, wife's arms

Posted by: Barack Mussolini Obama at May 25, 2010 06:38 AM (LdYLm)

137 Who's up for a game of golf?

Imagine: before November 2008 golf made me queasy for all the game's elitist, cultural, sedentary1, and yes, environmental implications.  And now?  OFF THE CHARTS.

1My idea of recreation is a 50 mile bike ride, or a hike in the mountains.

Posted by: ParisParamus at May 25, 2010 06:40 AM (bN5ZU)

138 Today, I'd like to call for a renewed focus on empty platitudes.

Posted by: Pres. TOTUS at May 25, 2010 06:43 AM (GwPRU)

139 OT: Saw a libtard on the way to work this morning.  How did I know it was a libtard?  On one side of the rear bumper was an Obama/Biden sticker, and on the other was a bumper sticker that said, "When George W. Bush took office, gas was $1.46".

The irony?  The libtard was driving a Tahoe.

Sometimes it just writes itself.

Posted by: Lone Marauder at May 25, 2010 06:47 AM (/bVuS)

140

For all of you who are worried, I wish to tell the story of my first rise to financial prominence... I had a small house of brokerage on Wall Street... many days no business come to my hut... my hut... but Jimmy has fear? A thousand times no. I never doubted myself for a minute for I knew that my monkey strong bowels were girded with strength like the loins of a dragon ribboned with fat and the opulence of buffalo... dung. ...Glorious sunset of my heart was fading. Soon the super karate monkey death car would park in my space. But Jimmy has fancy plans... and pants to match. The monkey clown horrible karate round and yummy like cute small baby chick would beat the donkey.

Wall Street... many days no business come to my hut... my hut... but Jimmy has fear? A thousand times no. I never doubted myself for a minute for I knew that my monkey strong bowels were girded with strength like the loins of a dragon ribboned with fat and the opulence of buffalo... dung. ...Glorious sunset of my heart was fading. Soon the super karate monkey death car would park in my space. But Jimmy has fancy plans... and pants to match. The monkey clown horrible karate round and yummy like cute small baby chick would beat the donkey."

Posted by: JamesT at May 25, 2010 06:48 AM (sGHac)

141 DJIA down 220 points after less than an hour.  Wheeeeeee!!!

Posted by: Lone Marauder at May 25, 2010 06:49 AM (/bVuS)

142 Danger, Will Robinson, danger!

Posted by: Robot at May 25, 2010 06:49 AM (xxgag)

143 My gonads! The cup, it does nothing!

Posted by: Rainier Wolfcastle at May 25, 2010 06:50 AM (u+34p)

144

Hammer,

I have a 2001 Mazda Tribute that is awesome. I've run it everywhere, treat it more like a truck than an SUV, and it hasn't given me any problems. it's a 2x4 v-6. I average 23 mpg, and run at excessive highway speeds. Good truck with lots of room, and willing to do most anything.

 

Stimulus 1 worked so f-ing well let's do Stimulus 2

Posted by: TheQuietMan at May 25, 2010 10:21 AM (1Jaio)

Is it "stimulus 2: Electric boogaloo"?

Posted by: todler at May 25, 2010 06:52 AM (fPOY0)

145 This is unintentionally hilarious. Two headlines on Bloomberg right now: Stocks in U.S. Drop on Lending Rates as S&P 500 Index Hits Six-Month Low U.S. Consumer Confidence Rises to Highest Level Since 2008 on Job Optimism All is well! All is well! Do not be alarmed!

Posted by: Monty at May 25, 2010 06:54 AM (4Pleu)

146 anyone else having trouble getting on Zero hedge?

Posted by: curious at May 25, 2010 07:02 AM (p302b)

147 Posted by: Monty at May 25, 2010 10:54 AM (4Pleu)

But the Richmond Fed reported its index of economic activity fell from 30 to 26....

Posted by: curious at May 25, 2010 07:03 AM (p302b)

148

160 anyone else having trouble getting on Zero hedge?

If you have to ask, you haven't been paying attention.

Posted by: Joanna at May 25, 2010 07:04 AM (7+WuG)

149 "162

160 anyone else having trouble getting on Zero hedge?

If you have to ask, you haven't been paying attention.

Posted by: Joanna at May 25, 2010 11:04 AM (7+WuG)"

I haven't been paying as close attention to the blog...i've had my hands full at work.

Posted by: curious at May 25, 2010 07:06 AM (p302b)

150 anyone else having trouble getting on Zero hedge?

Here's what you're missing when you can't access it:

Tyler posts some obscure number and a Delphic comment about it.

150 comments say "gold bitchez"!

Posted by: Waterhouse at May 25, 2010 07:12 AM (u+34p)

151 things are boom, literally, at the BP ocean floor: http://tinyurl.com/37eawv7

Posted by: UGrev at May 25, 2010 07:16 AM (862vz)

152 Loins girded. It feels funny.

I do like it, though.

Posted by: jcjimi at May 25, 2010 07:17 AM (ay6+/)

153 164: You're just jealous that he get more hits than you do at 4:15

Posted by: UGrev at May 25, 2010 07:17 AM (862vz)

154 It is not over yet. Markets hate uncertainty. The S+P hit an old low and bounced, but it might have to test it later today. www.pointsandfigures.com

Posted by: sage at May 25, 2010 07:21 AM (b5LmL)

155

THank you Monty for keeping us abreast (he he I said breast) of the world financial meltdown.

Posted by: s'moron at May 25, 2010 07:22 AM (PpeVF)

156 Safe investment advice:

1. ammo
2. canned food
3. silver (gonna need it to buy food)
4. ammo

Posted by: shibumi at May 25, 2010 07:27 AM (OKZrE)

157 I'm actually looking for to living in a cardboard box.  I can be very creative with Sharpies.

California Bonus:  The legislature wants to close the budget gap by raising taxes to the tune of....wait for it...five fucking BILLION dollars.

That'll help.

Posted by: mpfs at May 25, 2010 07:32 AM (iYbLN)

158 This is awesome. My Beanie Babies or really gonna pay off big.

Posted by: jcjimi at May 25, 2010 07:36 AM (ay6+/)

159 Well if everything is tanking, where the fuck is the money going?

George Soros.

Posted by: mpfs at May 25, 2010 07:36 AM (iYbLN)

160 #171 

That's what taxpayers are FOR.  To pay taxes.  We'll soon have the most tax payingest  taxpayers that ever paid a tax.

Posted by: California Legislature at May 25, 2010 07:40 AM (PlDo7)

161 Story title from Bloomberg Personal Finance.

Strippers Declare Inflation Dead as Dealers Revive Zero-Coupon Treasuries.

It's bad out there when even strippers can't get you inflated.

Posted by: mpfs at May 25, 2010 07:49 AM (iYbLN)

162 Yo, CNBC? How's my ass taste?

Posted by: Peter Schiff at May 25, 2010 07:52 AM (jmf9+)

163

Remain calm. All is well.

That's what I've been saying.

Posted by: James Buchanan at May 25, 2010 07:56 AM (cQyWA)

164 In the words of a famous French General at the defense of Paris 1914 "My Right is broken, my left is faltering. The time has never been better to attack." Morons to arms.

Posted by: Picric at May 25, 2010 07:58 AM (xJEYd)

165 The best thing about stockpiling guns, gold and food? Even if there is not a crisis, you still got guns, gold and food.

Posted by: JamesT at May 25, 2010 07:58 AM (sGHac)

166 But, but what about the green shoots in the economy???

Posted by: mpfs at May 25, 2010 07:59 AM (iYbLN)

167 @180. those are tracers..

Posted by: UGrev at May 25, 2010 08:11 AM (862vz)

168 The market was down 250 and now is only down about 150. Barry must saved or created those 100 points

Posted by: TheQuietMan at May 25, 2010 08:17 AM (1Jaio)

169 Hey how come Carey is proposing $165 Billion to unions? I thought Barry said the era of bailouts was over.

Posted by: Soon to be Ex-ExZonie at May 25, 2010 08:39 AM (as47X)

170 Got hay? low-tech fix to the oil clean up problem. HOLY SHIT.. http://tinyurl.com/24ym7lf

Posted by: UGrev at May 25, 2010 08:50 AM (862vz)

171

But, but.....

What about my mortgage minute guy I have on every friday thats been saying up until about a month ago that we'll see a "V-Shaped Recovery" for suuuuure

 

What about the perma-bulls on fbn or cnbc?  Should we finally call them on their bullshit?  Who the fuck would take financial advice from someone who's always wrong?

Posted by: Hugh Hewett at May 25, 2010 10:02 AM (9vQ7f)

172 WHOLESALE WATCHES,RETAIL WATCHES,REPLICA WATCHES,COPY WATCHES,BRAND WATCHES,ROLEX,CARTIER,HUBLOT. www.iloveinwatch.com http://www.iloveinwatch.com/category-126-b0-Rolex+watch.html">Replica Rolex http://www.iloveinwatch.com/category-94-b0-Cartier+watch.html">Replica Cartier http://www.iloveinwatch.com/category-108-b0-Hublot+watch.html">Replica Hublot

Posted by: iloveinwatch.com at May 27, 2010 12:37 AM (iaf+O)

173 iPad to Mac Transfer  is a professional mac software, designed for iPad users, aims to make it is easy for iPad users to transfer iPad to mac in a fairly easy and fluent way. iPad to Mac Transfer enable users to transfer various files on iPad to mac, including images, videos, audios, playlists, etc. Just by dragging and dropping, you can transfer iPad to mac yourself.

Posted by: ipad to mac transfer at November 02, 2010 07:12 AM (aqdkZ)

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