May 25, 2010
— 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.
Posted by: Monty at
05:15 AM
| Comments (173)
Post contains 114 words, total size 1 kb.
Posted by: alo89 at May 25, 2010 05:19 AM (n80kj)
Posted by: Andi "Moisterizing Cream" Sullivan at May 25, 2010 05:20 AM (PlDo7)
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)
Posted by: UGrev at May 25, 2010 05:24 AM (862vz)
Posted by: steevy at May 25, 2010 05:24 AM (Du+uu)
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)
Posted by: Jean at May 25, 2010 05:26 AM (qU2w5)
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)
Posted by: steevy at May 25, 2010 05:26 AM (Du+uu)
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)
Posted by: Jean at May 25, 2010 05:28 AM (OlnxK)
Posted by: Monty at May 25, 2010 05:31 AM (4Pleu)
Posted by: Waterhouse at May 25, 2010 05:32 AM (u+34p)
Posted by: Monty at May 25, 2010 05:32 AM (4Pleu)
Posted by: phoenixgirl at May 25, 2010 05:34 AM (ucxC/)
Posted by: Downfall Hitler's Last Parody at May 25, 2010 05:34 AM (H6lGz)
Posted by: Retread at May 25, 2010 05:34 AM (Zz3EL)
We're just hanging on, sir. The main energizer's out!
Posted by: Scotty at May 25, 2010 05:34 AM (9hSKh)
Posted by: Jean at May 25, 2010 05:35 AM (JaO+v)
Posted by: Barack "Adam Smith" Obama at May 25, 2010 05:36 AM (1fanL)
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)
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)
Posted by: Hatchet Five at May 25, 2010 05:37 AM (rSoCo)
Posted by: Jean at May 25, 2010 05:37 AM (vb5IK)
Posted by: phoenixgirl at May 25, 2010 05:37 AM (ucxC/)
* 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)
Posted by: The Hammer at May 25, 2010 05:38 AM (YBTwf)
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)
Posted by: Leonard McCoy at May 25, 2010 05:39 AM (1fanL)
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)
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)
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)
Posted by: Hatchet Five at May 25, 2010 05:41 AM (rSoCo)
Posted by: Jean at May 25, 2010 05:42 AM (JaO+v)
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)
Posted by: citizen khan at May 25, 2010 05:42 AM (laHLh)
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)
Posted by: Monty at May 25, 2010 05:43 AM (4Pleu)
Posted by: ziggyee at May 25, 2010 05:43 AM (UCvnl)
Posted by: maddogg at May 25, 2010 05:43 AM (OlN4e)
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)
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)
Posted by: havedash at May 25, 2010 05:44 AM (UTFx7)
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)
Posted by: Jean at May 25, 2010 05:44 AM (PjevJ)
Posted by: Ben at May 25, 2010 05:45 AM (wuv1c)
Posted by: NC Ref at May 25, 2010 05:45 AM (RUdpD)
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)
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)
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)
Posted by: chemjeff at May 25, 2010 05:47 AM (Gk/wA)
Posted by: TheQuietMan at May 25, 2010 05:47 AM (1Jaio)
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)
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)
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)
I would surely hate to try to go back to work.
Posted by: Vic at May 25, 2010 05:50 AM (6taRI)
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)
Posted by: maddogg at May 25, 2010 05:50 AM (OlN4e)
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)
Posted by: General Ulysses S Blumenthal at May 25, 2010 05:52 AM (PlDo7)
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)
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)
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)
Posted by: Heorot at May 25, 2010 05:53 AM (Nq/UF)
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)
Posted by: Monty at May 25, 2010 05:55 AM (4Pleu)
Posted by: Ben at May 25, 2010 05:57 AM (wuv1c)
Posted by: Monty at May 25, 2010 05:58 AM (4Pleu)
Posted by: Circa (Insert Year Here) at May 25, 2010 05:58 AM (B+qrE)
Posted by: Techie at May 25, 2010 05:58 AM (wVPwI)
Posted by: Monty at May 25, 2010 06:01 AM (4Pleu)
Posted by: Howard Dean at May 25, 2010 06:01 AM (k7Ddt)
Posted by: Obama at May 25, 2010 06:02 AM (Du+uu)
Posted by: mastour at May 25, 2010 06:05 AM (kTTiP)
Posted by: Kratos (missing from the side of Mt Olympus) at May 25, 2010 06:07 AM (9hSKh)
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)
Posted by: Jean at May 25, 2010 06:09 AM (JaO+v)
Posted by: TheQuietMan at May 25, 2010 06:10 AM (1Jaio)
Posted by: Joe Biden at May 25, 2010 06:10 AM (9Sbz+)
@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)
Posted by: Progressive Retard Chorus at May 25, 2010 06:12 AM (pLTLS)
Posted by: Techie at May 25, 2010 06:14 AM (0jfXM)
A little.
Posted by: tachyonshuggy at May 25, 2010 06:15 AM (BUlti)
Posted by: Monty at May 25, 2010 06:18 AM (4Pleu)
Posted by: Jean at May 25, 2010 06:20 AM (tJF9l)
thank god happy hour is just a few short hours away
Posted by: chemjeff at May 25, 2010 06:21 AM (Gk/wA)
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)
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)
Posted by: Easy Bake at May 25, 2010 06:25 AM (hVdJG)
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+)
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)
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+)
Posted by: Larry Kudlow at May 25, 2010 06:30 AM (fwSHf)
/sark on
Very incise analysis
/sark off
Posted by: Ludicrous Speed at May 25, 2010 06:34 AM (LdYLm)
Posted by: Ludicrous Speed at May 25, 2010 06:35 AM (LdYLm)
Posted by: Pres. TOTUS at May 25, 2010 06:37 AM (GwPRU)
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)
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)
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)
Posted by: Pres. TOTUS at May 25, 2010 06:43 AM (GwPRU)
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)
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)
Posted by: Lone Marauder at May 25, 2010 06:49 AM (/bVuS)
Posted by: Rainier Wolfcastle at May 25, 2010 06:50 AM (u+34p)
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)
Posted by: Monty at May 25, 2010 06:54 AM (4Pleu)
Posted by: curious at May 25, 2010 07:02 AM (p302b)
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)
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)
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)
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)
Posted by: UGrev at May 25, 2010 07:16 AM (862vz)
Posted by: UGrev at May 25, 2010 07:17 AM (862vz)
Posted by: sage at May 25, 2010 07:21 AM (b5LmL)
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)
Posted by: jcjimi at May 25, 2010 07:36 AM (ay6+/)
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)
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)
Posted by: Picric at May 25, 2010 07:58 AM (xJEYd)
Posted by: JamesT at May 25, 2010 07:58 AM (sGHac)
Posted by: mpfs at May 25, 2010 07:59 AM (iYbLN)
Posted by: TheQuietMan at May 25, 2010 08:17 AM (1Jaio)
Posted by: Soon to be Ex-ExZonie at May 25, 2010 08:39 AM (as47X)
Posted by: UGrev at May 25, 2010 08:50 AM (862vz)
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)
Posted by: iloveinwatch.com at May 27, 2010 12:37 AM (iaf+O)
Posted by: ipad to mac transfer at November 02, 2010 07:12 AM (aqdkZ)
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Posted by: Barack Obama at May 25, 2010 05:19 AM (FkKjr)