August 18, 2011
— Monty
[Spare a thought and a prayer for the innocent victims of the terrorist attack in Israel.]
Look, I'm not going to call this a vendetta or anything. I'm sure it's just a coincidence.
Is globalization a failure? It's too soon to tell, in my view. It's made a lot of very poor people richer, and that's a good thing. But it also seems to have driven low-end jobs into a vicious downward spiral: that's not a good thing.
The stock market is sensing some heavy weather ahead.
This fear threatens to pull an already weakened economy -- trudging along with unhealed wounds like 9%-plus unemployment and a dilapidated housing market -- down into a double-dip recession.If that happens, the logic goes, we'll face a protracted downturn because we have few tools left to resuscitate growth. Given the economic imbalances, excess debt and pure desperation out there -- represented by record long-term unemployment and a record number of Americans relying on food stamps -- it could very well be Great Depression 2.0.
For our President, every day is Opposite Day. When he says "I'm going to create jobs", he really means that he's going to kill jobs. It's a little game he picked up in Illinois.
Remember back when schools were meant to educate children rather than enrich adults? Yeah, me neither. Before my time.
Aw. Krugman and his boyfriend are on the outs. Here's some advice, Paul: make Bammer a nice arugula quiche and I'm sure this little tiff will blow over. (Also: "Firebagger"? What a lame sobriquet.)
The Greeks would gladly pay you Tuesday for a souvlaki today.
A meeting between Wisconsin rockstars: Governor Walker pushes Paul Ryan to run for President.
Gold is now over $1800 an ounce. People keep asking me if gold is in a "bubble" right now. My sense is: I don't think it is. It's overbought and may correct back down, but I don't think it's in bubble territory. It may correct downwards as the panic-buying recedes, but if the western nations cannot get their debt under control, gold will only keep going up.
Jobless numbers and inflation are both trending up.
The core index, which excludes volatile food and energy, rose 0.2 percent. That's below the 0.3 percent rise in each of the previous two months.(Emphasis mine.)Prices are 3.6 percent higher than they were a year ago, matching the 12-month increase in May and June. Core prices are 1.8 percent higher than they were a year earlier, the largest increase in two years.
The next time someone says to you that inflation is low, ask them if they've bought any food recently.
It's an old story: The best way to produce income equality is to destroy trillions of dollars of wealth. Everyone loses, but the rich lose relatively more than the poor and the middle class. By that measure, if few others, Obamanomics has been a raging success.
UPDATE 1: The European debt crisis deepens. I get the feeling that some kind of endgame is drawing near.
UPDATE 2: Obama promised to bring equality back to America. We may be poor and hungry...but at least we're equal. (I hasten to add that there are very few authentically "poor" people in the United States. Poor people do not own video game machines, flat-screen televisions, iPods, cellphones, and laptop computers. Compared with a beggar in Calcutta, our "poor" live the lives of the idle rich.)
UPDATE 3: Gold is way up (at $1822 as I write this); stock markets promise to open way down. Somehow I don't think that's helping His Majesty get his message to the plebs out there in Jesusland.
UPDATE 4: NYSE invokes Rule 48 on open.
UPDATE 5: Morgan Stanley: US and EU "dangerously close to a recession". Which means that we're probably already in one. (Or, more likely, never actually got out of the last one.)
UPDATE 6: Philly Fed report: pants-shittingly bad. 10-Year Treasury yield? At an all time low. Wheeee!
----------
There was this blinding white light all around me, and I was unable to move at all. I could see the alien ship not far away, pulsing with red and blue lights. Then, a creature emerged from the ship and spoke: Take me to your Friskies.
Posted by: Monty at
05:05 AM
| Comments (222)
Post contains 717 words, total size 6 kb.
Posted by: CoolCzech at August 18, 2011 05:13 AM (kUaEF)
Posted by: CoolCzech at August 18, 2011 05:14 AM (kUaEF)
Look, I'm not going to call this a vendetta or anything. I'm sure it's just a coincidence.
The lying shit weasels are now saying the investigation started before the downgrade.If so, then why aren't they investigating all of them?
Posted by: Vic at August 18, 2011 05:16 AM (M9Ie6)
When you think about it, cats are extremely weird looking animals.
Posted by: Ben at August 18, 2011 05:19 AM (wuv1c)
Hugo Chavez to nationalise Venezuela's gold industry
In the end, there will be only chaos.
Posted by: Kratos (Ghost of Sparta) at August 18, 2011 05:20 AM (9hSKh)
The Communist Super Committee raises taxes and increases spending
the EPA attacks 100 more companies with new regulations and shuts down farming due to stirring up the dirt
And he calls for more new programs to print money so he can spend it.
Posted by: Vic at August 18, 2011 05:21 AM (M9Ie6)
I had to come to the DOOM thread, I was about to pop an artery in the other thread.
Sad when DOOM makes you happier that another thread, ain't it?
Posted by: Sean Bannion at August 18, 2011 05:22 AM (sbV1u)
Posted by: Kratos (Ghost of Sparta) at August 18, 2011 05:23 AM (9hSKh)
I'm torn on Ryan getting into the race. I like him a lot and wouldn't mind if he was our candidate, but in terms of likability and electioneering, what's the difference between him an Pawlenty?
He's a soft spoken miswesterner. I'm not sure he'd be able to win.
Posted by: Ben at August 18, 2011 05:23 AM (wuv1c)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:23 AM (8y9MW)
>>>In the end, there will be only chaos.
I actually think this is hilarious and applaud Hugo for doing this.
Let's find out if the Bank of England and other large banks actually have any gold.
Posted by: Ben at August 18, 2011 05:24 AM (wuv1c)
Posted by: Concerned Christian Conservative Who's Never Heard of Moby at August 18, 2011 05:24 AM (qITbz)
Posted by: Cu'Chulainn at August 18, 2011 09:11 AM (oW269)
I was able to work it into conversation with my oldest daughter and her fiance last night after dinner.. It felt so good.
Posted by: The Great Satan's Ghost at August 18, 2011 05:25 AM (UrPTC)
He's a soft spoken miswesterner. I'm not sure he'd be able to win.
Posted by: Ben at August 18, 2011 09:23 AM (wuv1c)
That's an advantage in a debate with JEF.
JEF doesn't have a poker face and his irritation seeps through. Ryan is a cool as a cucumber.
Americans hate prissy whiners.
Posted by: Sean Bannion at August 18, 2011 05:25 AM (sbV1u)
You do this, and the economy will recover.
Eventually, yes, In fact that is the only path to a brighter future, someday. In the short term, reducing government deficit spending that accounts for 10% or so of GDP means GDP is going down by something like that amount (could be less if some money wasted on treasuries goes instead to useful investments, could be more as the lack of cash flow cascades). We really need to be honest about what's coming or folks will look at the short term plummet and assume we don't know what we're doing and we'll be right back where we are with another communist in the White House.
Posted by: Methos at August 18, 2011 05:26 AM (sOXQX)
He's also too focused on the budget- which is good where he is, but bad for a presidential campaign. Even when THE issue is the economy, you have to know enough about the other facets of the job or someone is going to get you with some "gotcha" question.
I like Paul Ryan, he seems to have a good head on his shoulders, but I think he needs some executive experience, or at least needs to show some experience in areas beyond the budget, before I could really support him.
Moreover, I think he's doing awesome where he is right now, and I don't think anyone who would replace him would be nearly as good. So it might end up being a net loss if he were to get into the presidential race.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:26 AM (8y9MW)
Posted by: Retread at August 18, 2011 05:27 AM (G+7cD)
I was able to work it into conversation with my oldest daughter and her fiance last night after dinner.. It felt so good.
heh! It did not go over as well on my facebook page though. If there were no cameras in the halls at work, I'd print out the pic Ace did up and slap it on the CiC photo which greets me every morning just to watch the hilarity ensue.
Posted by: Cu'Chulainn at August 18, 2011 05:28 AM (oW269)
This.
Posted by: Retread at August 18, 2011 05:28 AM (G+7cD)
I'm torn on Ryan getting into the race. I like him a lot and wouldn't mind if he was our candidate, but in terms of likability and electioneering, what's the difference between him an Pawlenty?
Who better to articulate the finance future of the United States than the man with the plan right now to address it?
Some candidates run, not to win, but to prime the pump for a future victory. Furthermore, what the GOP needs more than ever is massive voter turnout in their primaries.
I don't like anyone jumping from Congress to the White House. You see the devastation of that in President Obama. There are just too many mouths to feed that previously scratched your back to get into the White House.
Posted by: wtfci at August 18, 2011 05:29 AM (qITbz)
EVERY week, a select group of items at the store (and I shop at Walmart...) goes up about 10%. Some stuff goes up even more.
I remember when pork was the 'cheap' meat, and chicken was 'reasonable'...not so much anymore.
That 'final total' just keeps creeping up...steadily.
On the plus side, I've been getting creative and made some awesome variants on Hamburger and Tuna Helper (and discovered that ground chicken doesn't work all that well with Chicken Helper...).
Well, at least gas is down...for the moment.
Posted by: CPT. Charles at August 18, 2011 05:29 AM (1GunI)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 09:26 AM (8y9MW)
That's probably true. I can't help my man crush though. I wouldn't mind seeing him in the fray, but no one in Congress knows the details - and can explain them well - like he does.
Posted by: Sean Bannion at August 18, 2011 05:29 AM (sbV1u)
I was able to work it into conversation with my oldest daughter and her fiance last night after dinner.. It felt so good.
Posted by: The Great Satan's Ghost at August 18, 2011 09:25 AM (UrPTC)
We need details! What was the conversation? What was their reaction? Did they agree or not?
Posted by: Tami at August 18, 2011 05:30 AM (X6akg)
Hey, el JEFfe, how'd that work out with K'Daffy?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:30 AM (8y9MW)
Posted by: Retread at August 18, 2011 05:31 AM (G+7cD)
Billionaire Warren Buffet wants to tax people who make 1 million.
The 1 million mark are generally people in the business class and are job creators. Does Billionaire Warren Buffet create jobs - or just he just suck wealth and democrat donkey dick?
Come on Warren Buffet - PAY YOUR FAIR SHARE, asshole.
Posted by: Lemon Kitten at August 18, 2011 05:32 AM (0fzsA)
Americans hate prissy whiners.
Posted by: Sean Bannion at August 18, 2011 09:25 AM (sbV1u)
Yep. Too bad in 2008 El JEFe had an opponent that was determined not to provoke him into revealing that.
Posted by: Captain Hate at August 18, 2011 05:33 AM (houma)
Bachman says she will get gasoline below $2/gal. MSM reminding us that an "oil expert" says prices are based on supply and demand. Unless Bush is president, then prices are based on Halliburton and speculators.
Posted by: Jimmah at August 18, 2011 05:34 AM (NIjD4)
Only seven percent (7%) of adult consumers rate the U.S. economy as good or excellent, while 68% give it a poor rating.
Posted by: Tami at August 18, 2011 05:34 AM (X6akg)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 05:34 AM (eOXTH)
Look, I'm not going to call this a vendetta or anything. I'm sure it's just a coincidence.
Didn't I tell y'all that I keep score?
Posted by: Malcolm O at August 18, 2011 05:35 AM (/Mla1)
Of course, OTOH if the collapse happens before the election, it will be hard not to see pretty consistent improvement from that point forward.
Posted by: Methos at August 18, 2011 05:36 AM (sOXQX)
It's not that hard to understand Warren Buffet's motivation (or people like Bill Gates, for that matter). He doesn't want any more competition. If there are more people with lots of money, his relative wealth goes down. If his relative wealth goes down, so does his influence.
Right now, WB is the multi-billionaire owner (manager?) of Berkshire-Hathoway (a stock which, last time I checked, had averaged better than 22%/yr growth over its lifetime) and can make people sit up and listen with his pronouncements. If, suddenly, there are a hundred billionaires who actually worked their way up through this terrible regulatory environment (and who, therefore, are more likely to be conservative), his influence is diminished by all those other voices saying, "I did it, and you can, too."
WB and Bill Gates and a variety of others would much rather you believe that you would never be able to attain their level of wealth- so that you don't try.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:37 AM (8y9MW)
Posted by: curious at August 18, 2011 05:37 AM (k1rwm)
I thought something was suspicious when I went to the grocery store with $100 and walked out broke with 2 bags of food.
Posted by: Jimmah at August 18, 2011 05:38 AM (NIjD4)
Shots Fired: The Union Attack On Business
Union thuggery is escalating. I wonder why...hmm...
Posted by: Kratos (Ghost of Sparta) at August 18, 2011 05:38 AM (9hSKh)
I told them! Get rid of the corporate jets, I says. Would they listen? No. Now look at them.
Posted by: Hussein the Plumber at August 18, 2011 05:42 AM (RkRxq)
For only $100, you're lucky they still gave you bags.
Posted by: Methos at August 18, 2011 05:43 AM (sOXQX)
Yeah, it was posted here a week ago, you clueless fucking parasite.
Posted by: Waterhouse at August 18, 2011 05:43 AM (Ya0IT)
Posted by: Kratos (Ghost of Sparta) at August 18, 2011 09:38 AM (9hSKh)
Ooh! Ooh! I know! Pick Me!
Because Barack Obama is a stuttering clusterf*ck of a miserable failure.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:44 AM (8y9MW)
Posted by: curious at August 18, 2011 05:44 AM (k1rwm)
EVERY week, a select group of items at the store (and I shop at Walmart...) goes up about 10%. Some stuff goes up even more.
Posted by: CPT. Charles at August 18, 2011 09:29 AM (1GunI)
Are those items chiefly food, manufactured goods, or a mix?
2 weeks or so ago I learned an interesting thing. The Chinese government mandated a wage hike recently. A big one. I was chatting with an international business consultant who had visited China a few months ago to do some system reviews. The Chinese business owners were desperate to find some efficiencies in the transactional side of their businesses because they see their wage advantage disappearing.
If this is correct, significant cost increases in low-to-mid complexity manufactured goods is inevitable.
The question, as always, is whether the cost increases come from demand, or from changes to the money supply. I contend that the bulk of what inflation we've seen in the last few years is driven by supply and demand. We have the 3rd world eating more and better food, and sucking up oil at a much greater rate than before. We aren't using our own oil reserves in the gulf as we should be. The new Brazilian supply is not on line yet. Power plants can't be built without horrific legal costs. The US is not the only nation seeing food and energy prices go up. Either everyone is inflating just like us, or it's not really the money supply that's at fault.
Posted by: Reactionary at August 18, 2011 05:46 AM (xUM1Q)
On the other hand, thanks to a 100 year drought in Texas (that is, "You'll only get one this bad every 100 years," not, "We've had 100 years of drought" Not that you can really tell the difference), the cost of beef is about to plummet.
Ranchers are starting mass slaughterings of their cattle (and will sell the meat, so they can make at least some money) because there isn't enough land left where they can be grazed, and feed costs way too much.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:46 AM (8y9MW)
Posted by: blaster at August 18, 2011 05:47 AM (l5dj7)
Posted by: Tami at August 18, 2011 05:47 AM (X6akg)
Must have "firebagger" in the line.
Posted by: I'm in a New York state of mind at August 18, 2011 05:48 AM (4sQwu)
Let 'em eat ethanol.
Posted by: SCOAMF at August 18, 2011 05:50 AM (G+7cD)
I just saw one of those entertaining news documentary shows talking about how the unions are infiltrating China big time.
Posted by: curious at August 18, 2011 05:51 AM (k1rwm)
President Assad Reply: "For the sake of the American people, the time has come for President Stuttering clusterfuck of a miserable failure to step aside."
Posted by: Chuck Z at August 18, 2011 05:51 AM (OITDh)
Ranchers are starting mass slaughterings of their cattle (and will sell the meat, so they can make at least some money) because there isn't enough land left where they can be grazed, and feed costs way too much.
That's good news for steak eaters in the short term, but what's that going to do to the price of meat once that glut disappears?
Posted by: Methos at August 18, 2011 05:51 AM (sOXQX)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 05:51 AM (eOXTH)
about the unspent TARP. the President can't really announce he wants to spend that on these (some of them) worthy projects because there will be ALOT of people who say "put it back in the Treasury to forestall tax increases/pay down the debt".
then again, the states will say "oh goody"
Posted by: kelley in virginia at August 18, 2011 05:51 AM (VIqi1)
Posted by: blaster at August 18, 2011 09:47 AM (l5dj7)
It wouldn't surprise me if you are right, and the whole thing was premeditated. That money was going to be stashed away until 2012 and spent to buy votes from the beginning.
Posted by: yinzer at August 18, 2011 05:52 AM (/Mla1)
7% of the country is seriously brain-damaged. Even if things are personally going well for you, how can you rate an economy that's barely ticking over as "good" or "excellent"?
Posted by: Waterhouse at August 18, 2011 05:52 AM (Ya0IT)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 05:54 AM (eOXTH)
That would almost be as awesome as one of our candidates saying it.
Posted by: Methos at August 18, 2011 05:54 AM (sOXQX)
Ultimately, it'll drive prices higher. Probably next year, but it's hard to judge.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:54 AM (8y9MW)
Hugo Chavez to nationalise Venezuela's gold industry
In the end, there will be only chaos.
Posted by: Kratos (Ghost of Sparta) at August 18, 2011 09:20 AM (9hSKh)
Tell me more about this nationalization of gold...
Posted by: King Barry XIV at August 18, 2011 05:55 AM (v+QvA)
Posted by: Methos at August 18, 2011 09:51 AM (sOXQX)
Once Perry gets into office, hobohunting will be legal and there will be no shortage of free meat.
Posted by: yinzer at August 18, 2011 05:55 AM (/Mla1)
Posted by: curious at August 18, 2011 05:56 AM (k1rwm)
Posted by: 'Nam Grunt at August 18, 2011 05:56 AM (gan7Z)
President Obama written statement - "For the sake of the Syrian people, the time has come for President Assad to step aside."
President Assad Reply: "For the sake of the American people, the time has come for President Stuttering clusterfuck of a miserable failure to step aside.
"'President" Kadaddy chiming in as the reply transits the Mediterranean: For the sake of the American people and my ass, the time has come for President Stuttering clusterfuck of a miserable failure to step aside
Posted by: Blue Hen at August 18, 2011 05:56 AM (326rv)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:56 AM (8y9MW)
Posted by: President Chet Roosevelt at August 18, 2011 05:57 AM (wA1Kn)
Posted by: George Orwell at August 18, 2011 05:58 AM (AZGON)
Posted by: Empire of Jeff at August 18, 2011 05:58 AM (lbo6/)
I may actually take up hunting.
Mostly I don't, at the moment, because my wife doesn't like game in the first place, and I don't like waking up at the crack of dawn. If food prices continue to climb, I'll either have to see about getting my grandparent's farm working again (goats and chickens fed them through the great depression), or take up hunting.
I'm a city boy, so neither of those really appeal to me.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 05:59 AM (8y9MW)
Posted by: the plunge protection team at August 18, 2011 05:59 AM (k1rwm)
My oldest and me have a lease out in west Texas near El Paso, we have plenty of deer meat and sausage from year to year.
Posted by: 'Nam Grunt at August 18, 2011 06:01 AM (gan7Z)
Posted by: Barry the Magnificent at August 18, 2011 06:01 AM (sOXQX)
Posted by: Empire of Jeff at August 18, 2011 06:01 AM (lbo6/)
They are all saying how Obumbles cannot make any progress because big biz is out to "get him" now. Almost all of them are talking about open violence now.
Posted by: +1 Ghost Touch Nail Clippers at August 18, 2011 06:02 AM (fmZn6)
Posted by: Jimmah at August 18, 2011 06:03 AM (NIjD4)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 06:03 AM (eOXTH)
Posted by: Methos at August 18, 2011 09:51 AM (sOXQX)
Cats. The other-other white meat. Self-feeding if kept outside, and the breed like rabbits.
Posted by: Chuck Z at August 18, 2011 06:03 AM (OITDh)
Posted by: George Orwell at August 18, 2011 06:03 AM (AZGON)
Posted by: Dirk Hardpec at August 18, 2011 06:04 AM (e8T35)
The back 40 of my grandparent's farm is actually part of a small forest. They've got plenty of deer there, as well.
And I happen to love venison, I just don't like the idea of getting up at 5 AM some chilly November morning to get it.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 06:04 AM (8y9MW)
Posted by: James Earl Carter Jr. at August 18, 2011 06:04 AM (48wze)
Posted by: Empire of Jeff at August 18, 2011 06:05 AM (lbo6/)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 10:04 AM (8y9MW)
How about staying up until 5am?
Actually I'm not a hunter either. I'd probably resort to fishing instead.
Posted by: yinzer at August 18, 2011 06:06 AM (/Mla1)
The thing is, that doesn't refute Bachman at all. The correct response (which I hope she makes) is, "Yes. And since I can't control the demand side, I propose we really ratchet up the supply. Tap into ANWR, allow drilling in the Gulf and on the Continental Shelf, and see what we can do to make oil shale more profitable."
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 06:06 AM (8y9MW)
Posted by: George Orwell at August 18, 2011 06:06 AM (AZGON)
Food. (Although some of it may be temporary 'bump ups' as they drop the prices on other things...the usual game.) But overall, most food-stuffs are up an easy 10%, some things more...like 25 to 50% (comfort food type items).
Manufactured goods seem pretty stable (for the moment), but if you pay attention to prices, about 10% (clothes and such...).
The prices on 'electro-toys' (TVs, and alike) are pretty flat.
Posted by: CPT. Charles at August 18, 2011 06:07 AM (1GunI)
Did gyrate truth and keep it veiled;
All stuttered was his clusterfuck,
And his misery so failed.
Posted by: George Orwell
Brilliant. Well done sir.
Posted by: Blue Hen at August 18, 2011 06:07 AM (6rX0K)
Posted by: The Robot Devil at August 18, 2011 06:07 AM (136wp)
about the unspent TARP. the President can't really announce he wants to spend that on these (some of them) worthy projects because there will be ALOT of people who say "put it back in the Treasury to forestall tax increases/pay down the debt".
then again, the states will say "oh goody"
Posted by: kelley in virginia at August 18, 2011 09:51 AM (VIqi1)
Who says I have to announce it. I'll just do it on the sly since there is no real accountability for any of these funds anyway.
Posted by: Barky O, and I am not a stuttering sibilant clusterfuck of a failure at August 18, 2011 06:07 AM (yrGif)
Okay, this needs to be made into a bumper-sticker, STAT.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 06:07 AM (8y9MW)
Posted by: Dirk Hardpec at August 18, 2011 10:04 AM (e8T35)
Sure, we could turn it into a reality show and make some cash.
Posted by: yinzer at August 18, 2011 06:07 AM (/Mla1)
Rush warned us about this in 1978.
Posted by: Waterhouse at August 18, 2011 06:07 AM (Ya0IT)
One thing I agree with Ron Paul, AUDIT THE FED!
Posted by: The Robot Devil at August 18, 2011 06:08 AM (136wp)
Posted by: at August 18, 2011 06:09 AM (k1rwm)
Posted by: George Orwell at August 18, 2011 06:11 AM (AZGON)
Look, I didnÂ’t listen to it. My stomach is not that strong. But anyone can see that this leftist boneheadÂ’s implications are racist. White sheet quality racism.
Posted by: Hussein the Plumber at August 18, 2011 06:13 AM (RkRxq)
CPT--Don't lose that hash!
The other quasi-hidden inflation is the product resizing. Have you been able to buy a half gallon of ice cream lately? I checked a coffee pack (oof brand custom blend) lately, and there was no indication of the weight anywhere on the package. My guess was 11 oz, but this is just the start of the real inflation as we have to eat (and drink coffee).
Posted by: Hrothgar at August 18, 2011 06:14 AM (yrGif)
Posted by: Zito Langdom at August 18, 2011 06:14 AM (48wze)
http://tinyurl.com/3g83vhf
almost double the amount of liquidity available to the money market from SFr120bn ($152bn) to SFr200bn. The increase, which compares with “normal” liquidity levels of about SFr30bn, has lowered already rock-bottom interest rates and turned some short-term rates negative.
Posted by: The Robot Devil at August 18, 2011 06:14 AM (136wp)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 06:15 AM (eOXTH)
Posted by: at August 18, 2011 06:15 AM (k1rwm)
Posted by: Oprah Winfrey at August 18, 2011 06:16 AM (48wze)
Posted by: Empire of Jeff at August 18, 2011 06:16 AM (lbo6/)
Posted by: Zito Langdom at August 18, 2011 10:14 AM (48wze)
Did Barry make another speech or is he able to do this much damage while on vacation?
Posted by: Hrothgar at August 18, 2011 06:16 AM (yrGif)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 06:17 AM (eOXTH)
Posted by: The Fat Girl at August 18, 2011 06:18 AM (48wze)
What's the magic number, now? Isn't it 5% (which 500 would be pretty close to)?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 06:18 AM (8y9MW)
Posted by: ✡phoenixgirl✡I STAND WITH ISRAEL at August 18, 2011 10:03 AM
That's what I'm afraid of.
Posted by: Tami at August 18, 2011 06:19 AM (X6akg)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 10:18 AM (8y9MW)
Yes. It's very close.
Is it ok to drink b4 8am?
Posted by: Barbarian at August 18, 2011 06:20 AM (EL+OC)
Posted by: George Orwell at August 18, 2011 06:20 AM (AZGON)
Did Barry make another speech or is he able to do this much damage while on vacation?
Posted by: Hrothgar
You didn't hear? He said that since Martha's vineyard was so nice and prosperous, everyone should be like Martha and get a vineyard of their own. I didn't get too many details after that. Some of his economic council started inexplicably screaming and drowned it out.
Posted by: Blue Hen at August 18, 2011 06:21 AM (6rX0K)
Posted by: Barbarian at August 18, 2011 10:20 AM (EL+OC)
It's Beer o'thirty somewhere..
Posted by: ✡The Robot Devil✡ תמיכה בישר at August 18, 2011 06:21 AM (136wp)
Posted by: Barbarian at August 18, 2011 10:20 AM (EL+OC)
Yeah, g'head....it's 8 pm in Asia.
Posted by: Tami at August 18, 2011 06:21 AM (X6akg)
The reason that the gold is not kept in the individual countries and shipped around as needed is that every month cargo ships sink in the ocean. Keep that up over a long period of time and you would lose enough of the worlds limited supply of gold to seriously impact things.
Posted by: An Observation at August 18, 2011 06:22 AM (ylhEn)
Oh, and fuck off, fat girl.
Are you two gonna knock off the noise, or do I have to stop this car and whale both of your asses? 'Cause I'll do it! Don't think I won't! I'll bust your asses right by the side of the goddam road! Your mother and I slave like donkeys to give you kids a nice outing, and this is how you behave?
This is why you can't have nice things!
Posted by: Monty at August 18, 2011 06:23 AM (FC+dS)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 09:59 AM (8y9MW)
Chickens aren't too hard to raise, I don't believe. If you get a rooster, you have to be careful because they will attack you.
Posted by: Insomniac at August 18, 2011 06:23 AM (DrWcr)
Posted by: An Observation
Apparantly some people haven't yet heard of a fax machine.
Posted by: moron triumphant at August 18, 2011 06:23 AM (6rX0K)
Posted by: 'Nam Grunt at August 18, 2011 06:23 AM (gan7Z)
The first circuit breaker is at -10%, I think, so somewhere around 1140, if that's what you're asking.
Posted by: Methos at August 18, 2011 06:24 AM (sOXQX)
This is why you can't have nice things!
Posted by: Monty
This is why I make sure I sit behind him; he can't get a good swat in.
Posted by: middle kids are smarter; they have to be at August 18, 2011 06:25 AM (6rX0K)
Posted by: Wall-E at August 18, 2011 06:25 AM (48wze)
Apparently some people haven't yet heard of a fax machine.
I ran out of paper for mine, can you fax me some more?
Posted by: The Robot Devil at August 18, 2011 06:25 AM (136wp)
School is designed to school, not educate. It's the biggest job program in the U.S.
Posted by: rockhead at August 18, 2011 06:25 AM (ZMHGo)
Okay, this needs to be made into a bumper-sticker, STAT.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 10:07 AM (8y9MW)
I think that would cover the entire bumper. How about "Obama: The Laissez-Failure President"?
Posted by: Insomniac at August 18, 2011 06:25 AM (DrWcr)
Posted by: George Orwell at August 18, 2011 06:27 AM (AZGON)
Posted by: Hrothgar at August 18, 2011 10:14 AM (yrGif)
If you're eating the coffee, you're doing it wrong. Or you're in the military.
Posted by: Insomniac at August 18, 2011 06:27 AM (DrWcr)
Obama: Dicking with your future!
Posted by: The Robot Devil at August 18, 2011 06:27 AM (136wp)
Posted by: 'Nam Grunt at August 18, 2011 06:29 AM (gan7Z)
Sell all your gold the moment the polls show it is clear Perry wins in a walk and Republicans take the Senate.
Posted by: Bill Mitchell at August 18, 2011 06:29 AM (uVlA4)
shoot rocky- he's so high and mighty with his cap and flying acrobatics
his 'save the day bullshit' is even wearing thin on the moose
other squirrels detest him-but you'll have a hard time finding other squirrels
openly acknowledge it- but that's how we feel in our little squirrel hearts
Posted by: secret squirrel at August 18, 2011 06:30 AM (FduBR)
Posted by: at August 18, 2011 06:30 AM (k1rwm)
If you're eating the coffee, you're doing it wrong. Or you're in the military.
Posted by: Insomniac at August 18, 2011 10:27 AM (DrWcr)
Posted by: Hrothgar at August 18, 2011 06:30 AM (yrGif)
I just saw one of those entertaining news documentary shows talking about how the unions are infiltrating China big time.
Posted by: curious at August 18, 2011 09:51 AM (k1rwm)
I think that's great. Let's hope so. First, that helps offset their gross and flagrant trade protectionism. Second, China needs unions at this point in the development. Working (and living) conditions there remain deplorable. There was in interesting story a little while ago about an Apple manufacturing plant where the dormitories were fitted with nets outside the windows. Too many workers were throwing themselves to their deaths.
Posted by: Reactionary at August 18, 2011 06:32 AM (xUM1Q)
Posted by: Empire of Jeff at August 18, 2011 06:32 AM (lbo6/)
I suspect a fair chunk of that 7% are the folks in stable jobs (gov't work, corp-types that aren't worried about being 'down-sized [they're the 'rump' that's survived thus far...] and view themselves as 'immune' to the current shit-storm...more fools they.
Posted by: CPT. Charles at August 18, 2011 06:32 AM (1GunI)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 06:32 AM (8y9MW)
Posted by: George Orwell at August 18, 2011 06:32 AM (AZGON)
yes but the government is fighting the union intrusion tooth and nail
The suicides and the safety nets are a sad chapter in apple's history but jobs stepped up and did something right away
Posted by: at August 18, 2011 06:34 AM (k1rwm)
Posted by: SCOAMF at August 18, 2011 06:34 AM (G+7cD)
Posted by: 'Nam Grunt at August 18, 2011 06:34 AM (gan7Z)
Posted by: Fucksnap McTrolltwat at August 18, 2011 06:35 AM (lbo6/)
Okay, I read the article, but I don't actually know what it means. Can anyone explain?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 06:35 AM (8y9MW)
Jobless claims filings rise above 400000 mark
MarketWatch - 56 minutes ago
Posted by: George Orwell at August 18, 2011 10:27 AM (AZGON)
This is not meant to defend the current regime/policy (both suck) - but I do have to wonder how much of this is simply churn. At my plant we've been trying to get new people, and the available pool of workers SUCKS. And I mean, really bad. We're one of the better payers in the local area for entry level work, but we can't get anybody who can boast much more job qualification than a pulse. They can fog up a mirror, so we give them a chance. We go through a lot of 'em. They can't or won't work, or are dumb as posts.
If other industrial segments are suffering this, then that could have an impact on claims.
Posted by: Reactionary at August 18, 2011 06:36 AM (xUM1Q)
Posted by: George Orwell at August 18, 2011 06:36 AM (AZGON)
Posted by: wtfci at August 18, 2011 06:37 AM (qITbz)
Basically economic output is slowing dramatically, unemployment is still stubbornly high, and investors are flocking to "safe" instruments like the Treasury 10-year (the standard "long" instrument). Thus the 10-year's yield drops. Gold's spike is another "flight to safety" outcome.
Germany's GDP is flat, which means the Eurozone is fucked. China's debt-bubble is starting to deflate. America shows now signs of having a serious discussion about entitlement reform, which is the main driver of our own debt.
This all means that investors are in a poopie kind of mood.
Posted by: Monty at August 18, 2011 06:40 AM (FC+dS)
Dick Soetero puts his feet up on Resolute and puffs a Kools.
Posted by: George Orwell at August 18, 2011 10:36 AM (AZGON)
Which he lit with a burning T-bill.
Posted by: Insomniac at August 18, 2011 06:40 AM (v+QvA)
They don't call me the survivalists friend for nothing.
Posted by: Tabasco at August 18, 2011 06:40 AM (EL+OC)
Posted by: Empire of Jeff at August 18, 2011 06:41 AM (lbo6/)
yes but the government is fighting the union intrusion tooth and nail
The suicides and the safety nets are a sad chapter in apple's history but jobs stepped up and did something right away
Posted by: at August 18, 2011 10:34 AM (k1rwm)
Maybe the government will win, but it's hard telling. I bet that people are getting sick of being little better than slaves, especially given the huge, vast income inequality.
As for Apple, I'm sure Mr. Jobs got right on that issue - just as soon as it became news. Aside from that it's out of sight, out of mind. And according on the book Losing the New China, the US expats put in charge of looking after the Chinese ops are usually quickly co-opted into the local system via cash, drugs, and women. (Actually, that sounds like a good gig...)
Posted by: Reactionary at August 18, 2011 06:41 AM (xUM1Q)
That freakin douche nozzle "Cousin Eddie" Endless Vacationing President needs to go on more vacations every time he opens his lyin Pie Hole the market goes to hell.
Not that I give a rats rear end I'm largely out of it anyway but damn ya would think maybe he could just stfu once in awhile.
Posted by: Concealed Kerry or Submit at August 18, 2011 06:43 AM (vXqv3)
At my plant we've been trying to get new people, and the available pool of workers SUCKS
This is what the MPLS Fed President is talking about. By the way, he recently dissented at the FOMC meeting which is a change in his previous votes. He says there is structural problem with unemployment. Skilled labor is present in the United States, but the skilled labor is not living in the regions where their skilled labor is in demand.
It's a round about way of telling the people in the rust belt to move to where the jobs are. Well the jobs are where the taxes are low and the regulation is slow.
The Walker/Kasich/Perry/Jindal/Christie plan for job creation is the key to America's future. Obama's plan is a relic of the past.
Posted by: wtfci at August 18, 2011 06:43 AM (qITbz)
Posted by: Wall-E at August 18, 2011 06:44 AM (48wze)
If other industrial segments are suffering this, then that could have an impact on claims.
Posted by: Reactionary at August 18, 2011 10:36 AM (xUM1Q)
Do they get a restart on funemployment if they are laid off again?
Posted by: Hrothgar at August 18, 2011 06:44 AM (yrGif)
BTW, I’ll buy lunch for anybody who can explain the substantive difference between an “Infrastructure Bank” and the usual congressional pork-barrel transportation spending.
Posted by: Gregory of Yardale at August 18, 2011 06:44 AM (PLvLS)
Yeah, I saw a floor ad proudly announcing the the 'new' 1.25 L Coke bottle...for the same price I use to pay for a 2L.
Yup...smaller containers...same olde price (or slightly more).
They ain't fool'n nobody.
Posted by: CPT. Charles at August 18, 2011 06:45 AM (1GunI)
BTW, I’ll buy lunch for anybody who can explain the substantive difference between an “Infrastructure Bank” and the usual congressional pork-barrel transportation spending.
The "bank" issues loans that may or not be able to be forgiven based on what a future Congress decides.
Posted by: wtfci at August 18, 2011 06:46 AM (qITbz)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 06:47 AM (AZGON)
Do they get a restart on funemployment if they are laid off again?
Posted by: Hrothgar at August 18, 2011 10:44 AM (yrGif)
I don't know. I suspect that if they had bennies left they would get those, at least.
Posted by: Reactionary at August 18, 2011 06:47 AM (xUM1Q)
Posted by: Empire of Jeff at August 18, 2011 06:47 AM (lbo6/)
I'm totally not going to the one holding the bag when the US defaults. I can resell these with no problem.
Posted by: clever european investor fleeing insolvent banks at August 18, 2011 06:48 AM (sOXQX)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 06:48 AM (AZGON)
Part of me thinks of it as the ultimate contrarian move--the West is cratering, so jump ship to China, which seems to be hitting its 'robber baron' stage, and plant seeds for much, much later...
Sometimes, the long game is damned harsh.
Posted by: F--- Nevada! (I'm AoSHQ's DarkLord©, and I approve this message) at August 18, 2011 06:48 AM (GBXon)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 06:49 AM (AZGON)
Posted by: Miss80sBaby at August 18, 2011 06:51 AM (o2lIv)
Posted by: Jimmah at August 18, 2011 06:51 AM (NIjD4)
I might add, poor people scavenge in garbage dumps. A common occurrence in much of the 3rd world.
Posted by: rockhead at August 18, 2011 06:52 AM (ZMHGo)
Posted by: observer at August 18, 2011 06:52 AM (Zs9j0)
Posted by: Dick Soetero at August 18, 2011 06:55 AM (AZGON)
Posted by: Empire of Jeff at August 18, 2011 06:59 AM (lbo6/)
Posted by: Look! My grocery bill! It's Alive! at August 18, 2011 07:04 AM (pVvkk)
We've been in a Depression since 2001, dumb idiots in Washington just don't recognize it.
Posted by: The Robot Devil at August 18, 2011 07:06 AM (136wp)
I just saw one of those entertaining news documentary shows talking about how the unions are infiltrating China big time.
Posted by: curious
This and the Putin thread above remind me of a joke:
Gorbachev in earlier days tours the UK and visits a Scottish shipyard. he asks one of the workers to decribe their workday.
shipyard worker: We lcock in at 08:30 and have our union meeting and then our smoke break and then we work until 10:00, when we get a smoke and tea break. And then back to work until Noon and we have an hour lunch, then it's back until 2:00, we have another smoke and tea break, anthoer at 4:00 and then done at 5:00.
Gorbachev: This is very interesting. In USSR, workers report at 7:00 and work until Noon with 30 minutes for a lunch, and then work until 6:00.
shipyard worker: Well that may work well enough for you over there Mr Gorbachev, but it'd never happen with these lads here; they're all fucking communists!
Posted by: Blue Hen at August 18, 2011 07:06 AM (6rX0K)
Posted by: Dick Soetero at August 18, 2011 07:08 AM (AZGON)
Posted by: blaster at August 18, 2011 07:08 AM (l5dj7)
Posted by: Barack Obama Ate My Bubby!!! at August 18, 2011 07:13 AM (pVvkk)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 07:13 AM (AZGON)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 07:18 AM (AZGON)
Posted by: Clusterfucks Unite! Obama gives us a bad name! at August 18, 2011 07:21 AM (0tRzD)
It's not Gold I would be buying, it is Silver. Here is why.
The Gold SIlver ratio right now is about 45 and looks to be dropping. The ratio is based on how many ounces of Silver it takes to buy one ounce of gold, right now about 45 to 1. Historically this ratio floats all over, and you should do a bit of research on it. In the real world, there are about 16 ounces of Gold for every ounce of Silver. This would seem to indicate that the ratio, based on rarity, should be around 16, meaning that silver is highly undervalued right now in realtion to the price of Gold. In 1980, at the height of the runup, the ratio was 20-1. Here is a chart you may find interesting:
And if you want to buy some silver, there are still many good deals available, here is an example of one on eBay.
IMHO, Silver offers the best potential gain in the precious metals groups, mainly because it also has wide ranging industrial uses, along with its basic value. Do your own research.
Posted by: Mister Money at August 18, 2011 07:23 AM (wN82N)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 07:24 AM (AZGON)
Posted by: George Orwell what knows Obama is a stuttering clusterfuck of a miserable failure at August 18, 2011 07:39 AM (AZGON)
Posted by: No Whining at August 18, 2011 07:53 AM (sVrSt)
Posted by: ? at August 18, 2011 07:55 AM (Qy21f)
Does anyone else think that Chuck Grassley is a drooling imbecile of a US Senator?
Posted by: Pravda at August 18, 2011 07:59 AM (EL+OC)
On special occasions such as this, with the DOOM raining down on us, its important to take a couple of minutes and seek out and thank one or more the Vaunted 52%, whose breathtaking stupidity makes it possible for SCOAMF to work his magic every day for the next 1.5 years.
We all know who they are. Make sure they know that.
Posted by: glowing blue meat at August 18, 2011 08:03 AM (K/USr)
— Robert A. Heinlein
Posted by: Jack at August 18, 2011 08:04 AM (8IAHO)
— Robert A. Heinlein
Posted by: Jack at August 18, 2011 08:10 AM (8IAHO)
Here is what I do not understand. I know a few people who have gone for mortgages only to be disappointed at the last minute, literally before the closing.
And people I know are trying to refinance. The people with mortgages of a million dollars, not uncommon in NYC, can't refinance, no one will even answer the phone. Some have paid it down to the $729,000 level and still even within the limits they can't get a mortgage.
Who is taking advantage of these low mortgage rates?
Posted by: at August 18, 2011 08:10 AM (k1rwm)
Ho. Lee. SHIT!
Posted by: Rod Rescueman at August 18, 2011 08:40 AM (HwE/1)
Okay, I read the article, but I don't actually know what it means. Can anyone explain?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at August 18, 2011 10:35 AM (8y9MW)
Simple stuff, Allen. Treasurys have a yield, that is they payout money when they mature. Investors bid on the treasury bonds. The more bidders, the higher the demand. Thus with high demand they can lower the payout/yield, since there are more buyers bidding on them. Fewer buyers means they have to increase the yield to attract more buyers.
Think supply and demand. If everyone wants something ,the price goes up. Same thing applies to gold and silver.
This is a BAD sign, preprare for some rough times short term.
Posted by: Mister Money at August 18, 2011 08:45 AM (wN82N)
"...we'll face a protracted downturn because we have few tools left to resuscitate growth."
We still have the biggest gun in our arsenal - November 2012 we will use it. I need to get my "Now open under new management" yard sign ready.
Posted by: Advo at August 18, 2011 08:49 AM (7vbG1)
As long as Obama and his group of Marx inspired Czars war on business through feckless and burdensome regulation are in control... people will be watching the market.
As long as people are watching the market... well you see the pattern.
Posted by: Shiggz at August 18, 2011 08:50 AM (v8Pb8)
Posted by: steevy at August 18, 2011 10:57 AM (xUr/v)
Posted by: SCOAMF! at August 18, 2011 12:31 PM (Y5I9o)
Posted by: Bonhoeffer Audiobook at August 18, 2011 04:02 PM (MBDKH)
Posted by: GHD Straighteners at August 19, 2011 01:04 AM (ZzqXu)
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Posted by: Cu'Chulainn at August 18, 2011 05:11 AM (oW269)