June 20, 2013
— Ace This is the most awesome presidency in history.
Stock, bonds, commodities, and currencies around the world got destroyed today. Today's drop in the S&P 500 was the worst one since 2011.Today's calamity was really an extension of yesterday's sell-off, which appeared to be triggered by comments made by Federal Reserve Chairman Ben Bernanke. Specifically, he said that the Fed could begin to taper, or gradually reduce, its quantitative easing program as early as later this year. In other words, they would be scaling back on their monthly purchases of $85 billion dollars worth of mortgage bonds and Treasury securities.
Some argue that the most devastating news was the surge in an obscure Chinese interest rate called SHIBOR, or the LIBOR of China. In 2008, surging LIBOR rates preceded the global credit crunch, causing the global economy and financial markets to spiral.
So we've got that to look forward to.
I find that last point ominous. Seems to me that the US often pulls the rest of the world out of a global recession. But the US hasn't done that. We're limping along. We're not in "recovery" and we're certainly not in growth.
So there's really no backstop, except for other big countries like China.
Posted by: Ace at
02:41 PM
| Comments (254)
Post contains 221 words, total size 1 kb.
Posted by: EC at June 20, 2013 02:43 PM (doBIb)
Posted by: Yoshi, Aggrieved Victim of the White Man at June 20, 2013 02:44 PM (dh83Q)
Posted by: BlueFalcon in Boston at June 20, 2013 02:46 PM (KCvsd)
Posted by: JackStraw at June 20, 2013 02:46 PM (g1DWB)
Posted by: Lauren at June 20, 2013 02:46 PM (wsGWu)
Posted by: Li Keqiang at June 20, 2013 02:47 PM (dh83Q)
Posted by: sven10077 at June 20, 2013 02:47 PM (VGRBi)
Posted by: steveegg at June 20, 2013 02:47 PM (o44nj)
Or as Keynes said when asked about the long run effects of his theories, "In the long run we are all dead", and as I have said before, I fear the long run is just around the corner.
Posted by: Captain Mallfly at June 20, 2013 02:47 PM (bJm7W)
When there's no place else to invest, to the market!
It was bound correct.
Posted by: Tobacco Road at June 20, 2013 02:48 PM (4Mv1T)
Posted by: sven10077 at June 20, 2013 02:48 PM (VGRBi)
Posted by: zsasz at June 20, 2013 02:48 PM (MMC8r)
Signs say the economy is slowing... a local machiune tool builder announced they were laying off 160 people. They are a leading indicator of a slowdown.
There goes your 401K.. hold on
Posted by: The Jackhole at June 20, 2013 02:49 PM (nTgAI)
Posted by: sven10077 at June 20, 2013 02:49 PM (VGRBi)
Posted by: Comrade Arthur at June 20, 2013 02:50 PM (5YUSx)
Posted by: Captain Mallfly at June 20, 2013 02:50 PM (bJm7W)
Posted by: Chris Matthews at June 20, 2013 02:50 PM (mETGQ)
Posted by: zsasz at June 20, 2013 02:50 PM (MMC8r)
Posted by: Jones in CO at June 20, 2013 02:50 PM (8sCoq)
Posted by: Tobacco Road at June 20, 2013 02:51 PM (4Mv1T)
Obama's 1st term was the diametric opposite to Reagan's first term in not just the economy, but in every respect.
He defied reason and won because People today, fortunately for Obama, are simply unreasonable.
A perfect storm, if you will.
Posted by: soothsayer at June 20, 2013 02:51 PM (Y4TdB)
Posted by: Herr Morgenholz at June 20, 2013 02:51 PM (jaEXb)
Posted by: waldo at June 20, 2013 02:52 PM (RZwdH)
Posted by: sven10077 at June 20, 2013 02:52 PM (VGRBi)
Posted by: Michelle Obama at June 20, 2013 02:52 PM (5rVux)
Posted by: Joe Biden at June 20, 2013 02:53 PM (5rVux)
Posted by: Eaton Cox at June 20, 2013 02:53 PM (q177U)
Posted by: Stephen Price Blair at June 20, 2013 02:53 PM (QF8uk)
Posted by: sven10077 at June 20, 2013 02:53 PM (VGRBi)
Posted by: rickb223 at June 20, 2013 02:54 PM (ndIek)
Posted by: Dang at June 20, 2013 02:54 PM (Hx2XA)
The federal reserve has been buying crap from banks to give banks more money to play with. But most everyone who's dumb enough to take on debt is already up to their eyeballs. The remaining alternatives are student loans (guess how those are performing with half of all graduates unemployable) and margin for folks playing the stock market.
So long as the free money stretched infinitely into the future, it made sense to lard up on leverage. Now that it might eventually end, the only smart move is to cash out early. Which means we get huge deflation everywhere despite the fact the fed is still printing out the wazoo. When this gets interesting is when the decline starts triggering margin calls and we find out what this market is actually worth.
Short version: The problem is not the decline now, it was the manipulation of the last five years to make the market artificially high. The decline now is merely the inevitable consequence.
Some argue that the most devastating news was the surge in an obscure Chinese interest rate called SHIBOR, or the LIBOR of China. In 2008, surging LIBOR rates preceded the global credit crunch, causing the global economy and financial markets to spiral.
Just for some context, zerohedge had an article about this last night. Three days ago the interbank lending rate in China was 5%. At one point last night it was 25%. The system freezes up when folks figure out everyone is bullshitting each other.
Posted by: Methos at June 20, 2013 02:54 PM (hO9ad)
Posted by: Mil-Dot at June 20, 2013 02:54 PM (Cs2tJ)
Posted by: waldo at June 20, 2013 02:55 PM (RZwdH)
TED as in the yuppie talks that Prius driving fart sniffers like to natter on about or does TED mean something else?
Posted by: ParanoidGirlInSeattle at June 20, 2013 02:55 PM (RZ8pf)
Posted by: rickl at June 20, 2013 02:55 PM (sdi6R)
Glad you came to that conclusion Ace.
Posted by: Chris Matthews at June 20, 2013 06:50 PM (mETGQ)
"Awesome" isn't what you think it is.
Posted by: steveegg at June 20, 2013 02:55 PM (o44nj)
Posted by: shibumi, who knows that the NSA is watching at June 20, 2013 02:55 PM (z63Tr)
Posted by: Alittleenglish at June 20, 2013 02:55 PM (TDx0X)
Posted by: Everybody living in Zimbabwe at June 20, 2013 02:55 PM (mETGQ)
Posted by: NCwoof at June 20, 2013 02:55 PM (aUQgu)
Posted by: Waterhouse at June 20, 2013 02:56 PM (6yFom)
Then they came for her areolas and again I said nothing... Posted by: waldo
Shhh. I'm trying to watch this.
Posted by: Dang at June 20, 2013 02:56 PM (Hx2XA)
Posted by: Herr Morgenholz at June 20, 2013 02:56 PM (jaEXb)
Posted by: Craig Poe at June 20, 2013 02:56 PM (BVkEs)
Posted by: joeindc44 will never be convinced at June 20, 2013 02:56 PM (QxSug)
President Barack Obama on Friday afternoon will formally announce his nomination of James Comey, President George W. BushÂ’s deputy attorney general, to serve as the next director of the FBI, according to a White House official.
It had been known for weeks that Comey had been chosen to succeed outgoing Director Robert Mueller. But a formal announcement had yet to be made.
(Wonder if Barky is trying to buy himself a king of get out of jail card. Boob Bait for Boehner?)
Posted by: Captain Mallfly at June 20, 2013 02:57 PM (bJm7W)
Posted by: ParanoidGirlInSeattle at June 20, 2013 02:57 PM (RZ8pf)
Posted by: JackStraw at June 20, 2013 02:57 PM (g1DWB)
Sounds like the TED I hate.
Posted by: Dang at June 20, 2013 02:57 PM (Hx2XA)
Meanwhile, in Washington D.C...
Republicans and Democrats continue their struggle in The Battle For The Peasants.
Posted by: the voice of the Super Friends guy at June 20, 2013 02:58 PM (Y4TdB)
It's a good thing. All the free money that Bernanke has been giving institutional investors has mostly gone towards raising stock prices and commodity prices and in general reducing the purchasing power of the dollars that are in yours and my pockets.
Now, our dollars will become king again, the price of gas and oil, food and energy and all those little things that the government doesn't like to put in the CPI indexes will actually start to fall.
It's been a mad, mad, world where declining wages, declining purchasing power, increased unemployment, have all been tied to a growing stock market. Maybe next year we will see declining wages, level unemployment and a greater purchasing power while the inflated stock prices decrease.
Posted by: doug at June 20, 2013 02:58 PM (uJ8q7)
Short version: The problem is not the decline now, it was the manipulation of the last five years to make the market artificially high. The decline now is merely the inevitable consequence.
Posted by: Methos at June 20, 2013 06:54 PM (hO9ad)
Last 15 years, really. The Fed has been doing shit like this since 1998. Back then, it was to save S(l)ick Willie.
Posted by: steveegg at June 20, 2013 02:58 PM (o44nj)
Posted by: somebody else, not me at June 20, 2013 02:58 PM (29vnO)
Posted by: joeindc44 will never be convinced at June 20, 2013 02:58 PM (QxSug)
Posted by: Herr Morgenholz at June 20, 2013 06:56 PM (jaEXb)
that's hawt
Posted by: Sandra Fluke at June 20, 2013 02:58 PM (9aW7x)
Posted by: sven10077 at June 20, 2013 02:59 PM (VGRBi)
Posted by: Flatbush Joe at June 20, 2013 02:59 PM (ZPrif)
Posted by: EC at June 20, 2013 02:59 PM (doBIb)
Posted by: rickl at June 20, 2013 02:59 PM (sdi6R)
Posted by: Flatbush Joe at June 20, 2013 02:59 PM (ZPrif)
Posted by: rickb223 at June 20, 2013 02:59 PM (ndIek)
Posted by: The Fed at June 20, 2013 06:45 PM (MMC8r)
fixt
Posted by: Anachronda at June 20, 2013 03:00 PM (0LrDt)
Meanwhile James B. Comey. another subversive who worked to discredit George W. Bush, comes out of the shadows to accept his reward from Obama and take over the FBI.
Posted by: Skandia Recluse at June 20, 2013 03:00 PM (NoU9g)
Posted by: Sandra Fluke at June 20, 2013 03:00 PM (mETGQ)
Posted by: chemjeff
---------------------------
silver spot today was just under $20, which is much better than $30-35 that it was recently. And yet the recent "historic price", if I can call it tha,t was $5-6.
I have a hard time parking any appreciable amount in something that still seems inflated to me.
And I thought real hard about it a couple of months ago. A sack full anyway.
Glad I didn't buy then.
Posted by: Tobacco Road at June 20, 2013 03:00 PM (4Mv1T)
Posted by: sven10077 at June 20, 2013 03:00 PM (VGRBi)
Posted by: Dack Thrombosis at June 20, 2013 03:01 PM (V1ZIU)
It could just as quickly go back up, again.
This sell-off could just be a gift from Bernake, to his brethren on Wall Street.
Profit taking.
He only said that he "might" start scaling back on buying our Bonds.
He hasn't done it yet.
Posted by: wheatie at June 20, 2013 03:01 PM (d2B9H)
Posted by: Li Keqiang at June 20, 2013 03:02 PM (dh83Q)
Posted by: Some dumb scrumptious at June 20, 2013 03:02 PM (Aif/5)
Bernanke said .... they would be scaling back on their monthly purchases of $85 billion dollars worth of mortgage bonds and Treasury securities.
So, the post-2008 stock market rise was some sort of speculative bubble inflated by government pumping and not economic fundamentals?
Why, I'm quite shocked. Quite shocked indeed.
Posted by: Laurie David's Cervix at June 20, 2013 03:03 PM (kdS6q)
Posted by: SpongeBob ReaverSaget at June 20, 2013 03:03 PM (kxSZr)
Posted by: rickb223 at June 20, 2013 03:03 PM (ndIek)
John Boehner: ‘Bipartisan’ immigration reform only way
DRUDGE link to politico
Asshat John changed his position twice today. Someone check his offshore accounts for a large deposit.
Posted by: Mil-Dot at June 20, 2013 03:03 PM (Cs2tJ)
Posted by: rickl at June 20, 2013 03:03 PM (sdi6R)
James Gandolfini did exactly what most of us expected him to do -- die relatively young.
The media needs to sensationalize the expected, though, and embellish the story with the word "shocking."
Posted by: soothsayer at June 20, 2013 03:04 PM (+oin+)
Posted by: Tobacco Road at June 20, 2013 03:05 PM (4Mv1T)
Posted by: rickb223 at June 20, 2013 03:06 PM (ndIek)
Posted by: Tobacco Road at June 20, 2013 07:05 PM (4Mv1T)
---
Is one shot per bullet a good start?
Posted by: Craig Poe at June 20, 2013 03:07 PM (BVkEs)
Posted by: rickl at June 20, 2013 03:07 PM (sdi6R)
"Are there lessons to be learned" by James Gandolfini's death?
Even in death you can't escape the pull of... The Sequel
Posted by: garrett at June 20, 2013 03:07 PM (DAcx0)
According to Karl Denninger at the Market Ticker, the government has been artificially propping up GDP with debt since the 1980s. He has charts & math & shit at his site.
Posted by: rickl at June 20, 2013 07:03 PM (sdi6R)
If Karl wants to go that far back, he really needs to go back 2 more decades.
Posted by: steveegg at June 20, 2013 03:07 PM (o44nj)
Posted by: Yoshi, Aggrieved Victim of the White Man at June 20, 2013 03:07 PM (dh83Q)
No wonder why foreclosures are way down! The FED is buying up all the bad loans.
Housing market recovery, my ass.
Posted by: soothsayer at June 20, 2013 03:07 PM (vanqS)
Posted by: Zimbabwe at June 20, 2013 03:08 PM (mETGQ)
in other news: oh Goody (from the Hill):
Hillary Clinton has already racked up a couple of endorsements for the 2016 presidential race — and she hasn’t even announced she’s running yet. Requests are flooding in for the former secretary of State to campaign for candidates.
Of course, President Obama remains the most sought-after figure, but his star power could fade in the coming months as the chatter about his successor intensifies. His approval rating has fallen as his administration has grappled with a variety of controversies ranging from IRS overreach to government snooping.
“The political focus of the Democratic Party will shift to Hillary, and in some ways it has already,” said former Pennsylvania Gov. Ed Rendell (D), who, as a staunch Clinton supporter, has an interest in seeing his forecast come true.
He noted that while Obama will be the policy leader of the party, there will be an “inherent transition” politically to the person Democrats see as the next leader.
(Hillary!! Tough as rivets and don't make her cry!)
Posted by: Captain Mallfly at June 20, 2013 03:08 PM (bJm7W)
Posted by: LIV at June 20, 2013 03:09 PM (qpah5)
Is this finally it? I've been mostly out of the market since late 2010. Every time I think the inevitable crash is upon us, it recovers to new highs.
I hate to actively root for a crash, but we need to get it over with. I'll eventually reinvest, but not until there's blood in the streets.
Posted by: Warden at June 20, 2013 03:09 PM (HzhBE)
The MSM will downplay it...
Posted by: shibumi
What has been the top story the press is flogging today? Big monthly jump in real estate prices.
Unmentioned is that the jump is being driven by zero net interest loans, the return of Berkshire REIT-ish speculators and the roach-like house flipppers.
So, 2005 bubble crash all over again.
Posted by: Laurie David's Cervix at June 20, 2013 03:09 PM (kdS6q)
Cases of mad dog. Open ONLY in emergency
Posted by: NCwoof at June 20, 2013 03:09 PM (aUQgu)
Posted by: dfbaskwill at June 20, 2013 03:09 PM (ndlFj)
Posted by: zombie at June 20, 2013 03:10 PM (+cx5n)
No wonder why foreclosures are way down! The FED is buying up all the bad loans.
Housing market recovery, my ass.
Posted by: soothsayer
All those formerly illegal aliens aren't gonna house themselves! Come for the free houses, stay for the free sex changes!
Posted by: Dang at June 20, 2013 03:10 PM (Hx2XA)
It looks like they may have removed her nipples which looks very strange.
You know who else didn't have nipples? That's right: Hitler.
Posted by: Anachronda at June 20, 2013 03:10 PM (0LrDt)
the 2016 presidential race — and she hasn’t even announced she’s running
yet. Requests are flooding in for the former secretary of State to
campaign for candidates.
Someone needs to start a website or something,
Vote for Hillary: Make a Difference!
You wacky kids know the retort.
Posted by: fluffy at June 20, 2013 03:10 PM (z9HTb)
Posted by: andycanuck at June 20, 2013 03:11 PM (9+vDU)
Posted by: Preznit Hussein Clown Posse at June 20, 2013 03:11 PM (KSjsb)
Posted by: rickb223 at June 20, 2013 03:11 PM (ndIek)
Cases of mad dog. Open ONLY in emergency
Posted by: NCwoof at June 20, 2013 07:09 PM (aUQgu)
Thus the problem - every day is an emergency in the ObamiNation.
Posted by: steveegg at June 20, 2013 03:11 PM (o44nj)
Posted by: Margaret Thatcher at June 20, 2013 03:11 PM (mV8sg)
When there was news about the trial on tv or radio, I changed the channel. Eventually, I basically just stopped paying attention to the news for about a year.
I chose not to participate any longer.
But in the end, I still wound up knowing about as much as everyone else. Osmosis I suppose.
I'm at that point again. I choose not to participate any longer. There's no need for me to fret and worry about this world I have very little control over.
I have a glimpse in my mind of how all of this (the scandals, the wars, the economy, etc.) turns out a few years from now and it scares the piss out of me.
WHEN DOES FOOTBALL SEASON START?
Posted by: CozMark at June 20, 2013 03:11 PM (dm7Ev)
Posted by: andycanuck
It's starting to look tacky.
Posted by: Dang at June 20, 2013 03:12 PM (Hx2XA)
Posted by: waldo at June 20, 2013 03:12 PM (RZwdH)
Posted by: Brave Sir Robin at June 20, 2013 03:12 PM (qpah5)
Posted by: bonhomme at June 20, 2013 03:12 PM (yKTI2)
and if he removes "the war and the artificial sweetspot of the 40s to early 50s...more like 5 back
Posted by: Esteban10077@sven10077 at June 20, 2013 03:12 PM (LRFds)
Posted by: andycanuck at June 20, 2013 07:11 PM (9+vDU)
I think everything except ammunition plummeted.
Posted by: ol_dirty_/b/tard at June 20, 2013 03:12 PM (KSjsb)
------------------------
If you got in at $5-6 you are THE man. But I hope you physically have it, somewhere, not in someone elses possession, and not in a lock box at the bank. Remember FDR? Right.
Posted by: Tobacco Road at June 20, 2013 03:12 PM (4Mv1T)
Posted by: MTF at June 20, 2013 03:13 PM (EXemq)
Posted by: Farmer Fat Cat at June 20, 2013 03:13 PM (Hx2XA)
Posted by: steveegg at June 20, 2013 06:58 PM (o44nj)
No argument from me, save that the problem goes back to the basic premise of a central bank that loans money into existence. I just mean that they've been particularly bad recently in the effort to hide the Depression of 2008-
Posted by: Methos at June 20, 2013 03:13 PM (hO9ad)
Posted by: Yoshi, Aggrieved Victim of the White Man at June 20, 2013 03:14 PM (dh83Q)
Posted by: Thrawn at June 20, 2013 03:14 PM (JqnAE)
Posted by: rickb223 at June 20, 2013 03:14 PM (ndIek)
“My job is to try to facilitate a discussion, and build bipartisan support for a product that will address this broken immigration system that we have.”
John Boehner
Oh. Thought you were the senior man in DC for advocating Conservative, or at least Republican, policies.
Didn't realize you were actually the chubby chick by the punchbowl handing out name tags.
Posted by: Laurie David's Cervix at June 20, 2013 03:14 PM (kdS6q)
"See Tina Fey as a straitlaced Princeton admissions officer who puts her job on the line for a boy who may just be the son she gave up for adoption years ago, in this dramatic comedy."
(I ain't watching unless the boy is played by Gilbert Gottfried)
Posted by: Captain Mallfly at June 20, 2013 03:14 PM (bJm7W)
Posted by: SpongeBob ReaverSaget at June 20, 2013 03:15 PM (kxSZr)
http://www.thesun.co.uk/sol/homepage/features/3880417/The-Fartherland.html
Posted by: bonhomme at June 20, 2013 03:16 PM (yKTI2)
Posted by: rickb223 at June 20, 2013 03:17 PM (ndIek)
What I don't understand is that the price of gold plummeted today too!
Posted by: andycanuck
I'd guess paper gold on margin/options selling to cover other loses.
Posted by: Laurie David's Cervix at June 20, 2013 03:17 PM (kdS6q)
FIFY
My job is to try to facilitate a discussion, and build bipartisan
support for a product that will address this broken immigration system
that we have.”
Hiiiicup....whaaaaa
John Boehner
Posted by: The Jackhole at June 20, 2013 03:17 PM (nTgAI)
Posted by: ThisBeingMilt at June 20, 2013 03:17 PM (7mQyC)
Reaganomics did that.
At the time, liberals sneered, and said, "Well of COURSE Reagan managed to generate growth, with all of his reckless deficit spending! It's just textbook Keynes when you get right down to it."
Now under Obama we have deficit spending that dwarfs Reagan's deficits in percentage terms, and measly growth that's a fraction of what it was at this point in the Reagan years.
Have the liberals stopped sneering? Of course not! Now it's "Booooooooosh!"
Posted by: torquewrench at June 20, 2013 03:17 PM (gqT4g)
well Gold is not immune to Ben's funny money as an influencer...
I'm betting the hedges were still leveraging it as a % of portfolio
Posted by: Esteban10077@sven10077 at June 20, 2013 03:18 PM (LRFds)
Posted by: spypeach at June 20, 2013 03:18 PM (0n1+D)
Bob Dylan
Subterranean Homesick Blues
"the pump don't work 'cuz the vandals stole the handle"
"But I would not feel so all alone"
"Everybody MUST get SToned"
Posted by: Skandia Recluse at June 20, 2013 03:18 PM (NoU9g)
Shit. I'm heavily invested in drug slaves and tranny sex.
I need an adviser or something.
Posted by: Dang at June 20, 2013 03:18 PM (Hx2XA)
Posted by: blaster at June 20, 2013 03:18 PM (c28BI)
Posted by: ThisBeingMilt at June 20, 2013 03:19 PM (7mQyC)
If you can beat the DHS to it.
Posted by: rickb223 at June 20, 2013 07:17 PM (ndIek)
I have had a rule for some years to keep on hand:
1000 rds of 5.56
500 rounds of 9mm
Posted by: The Jackhole at June 20, 2013 03:19 PM (nTgAI)
Posted by: YIKES! at June 20, 2013 03:19 PM (mETGQ)
FWIW, Denninger thinks we'll get one big scare, followed by a major rebound here when money flees Europe, Japan, and China, and then the big event here.
After is anyone's guess.
Posted by: Methos at June 20, 2013 03:19 PM (hO9ad)
Posted by: Bertram Cabot Jr. at June 20, 2013 03:19 PM (zdlKj)
Posted by: SFGoth at June 20, 2013 03:20 PM (dZ756)
Posted by: rickb223 at June 20, 2013 03:20 PM (ndIek)
Posted by: HoboJerky, Hash Hunter at June 20, 2013 03:20 PM (X4HxX)
Fwance is a bit of the wild card...
trapping her people who didn't run like hell with the new Comrade in Charge...
I'm thinking China will wag the dog of America this time
Posted by: Esteban10077@sven10077 at June 20, 2013 03:20 PM (LRFds)
1000 rds of 5.56
500 rounds of 9mm
I would advise doubling or tripling that if you can.
Posted by: EC at June 20, 2013 03:20 PM (doBIb)
Posted by: HoboJerky, Hash Hunter at June 20, 2013 03:21 PM (X4HxX)
There is no inherent value in gold (sorry Monty, but you are wrong), and its reputation as a hedge against inflation is based on nothing concrete.
That it has become detached from its traditional movements isn't surprising. What is surprising is that it took so long.
Posted by: CharlieBrown'sDildo at June 20, 2013 03:21 PM (WW8xK)
Posted by: EC at June 20, 2013 07:20 PM (doBIb)
Thats my SHTF supply. You can bet if it comes down I will be adding
Posted by: The Jackhole at June 20, 2013 03:22 PM (nTgAI)
here's what's gonna happen tomorrow:
The market will regain some losses, (DJIA will go up about 120) and the balloons will fall from the ceiling at CNBC celebrating a bull market once again.
Posted by: soothsayer at June 20, 2013 03:22 PM (BUcLz)
Well, fuck.
DRUDGE
Posted by: Mil-Dot at June 20, 2013 03:22 PM (Cs2tJ)
And the difference this time is...??
Posted by: Blacque Jacques Shellacque at June 20, 2013 03:22 PM (vd7A8)
Posted by: HoboJerky, Hash Hunter at June 20, 2013 07:21 PM (X4HxX)
Freedom Munitions has .40 S and W and .45ACP in stock for very reasonable prices.
Posted by: CharlieBrown'sDildo at June 20, 2013 03:22 PM (WW8xK)
Posted by: steevy at June 20, 2013 03:23 PM (9XBK2)
Posted by: andycanuck
When the prices of everything are propped up by margin, they all fall at once when everyone cashes out. As a matter of determining the value of gold, if Ben's actually serious about cutting off the free money, the infinite inflation that had people chasing gold won't happen, which makes it terribly overvalued right now.
Posted by: Methos at June 20, 2013 03:23 PM (hO9ad)
I, for one, plan to embrace our new Half Black Market by working only for cash, paying no taxes, and eating only at my seester's taco truck. Mebbe leetle food stamps, no problemo.
I doan want no vote, just pretend I'm not here. Scuse me while I crap in your bushes.
Posted by: Manuel Labor at June 20, 2013 03:23 PM (wAQA5)
we'll see....
it is funny that under Bush they celebrated falls and silenced gains...
that said....
sooner or later the market is gonna lose 1/8th to 1/4 minimum
Posted by: Esteban10077@sven10077 at June 20, 2013 03:23 PM (LRFds)
Well, fuck.
DRUDGE
Posted by: Mil-Dot at June 20, 2013 07:22 PM (Cs2tJ)
---
Are they all Brown Asians?
Posted by: Craig Poe at June 20, 2013 03:23 PM (BVkEs)
Posted by: Gregory of Yardale at June 20, 2013 03:23 PM (azHfB)
I would invest in both M855 and ballistic tip ammo, for either/or contingencies.
Posted by: EC at June 20, 2013 03:24 PM (doBIb)
Posted by: HoboJerky, Hash Hunter at June 20, 2013 03:24 PM (X4HxX)
Posted by: SpongeBob ReaverSaget at June 20, 2013 03:24 PM (kxSZr)
Posted by: RiverC at June 20, 2013 03:25 PM (KTytI)
Posted by: rickl at June 20, 2013 03:25 PM (sdi6R)
Watch out, you might get what you're after
Cool babies, strange but not a stranger
I'm an ordinary guy
Burning down the house
Hold tight, wait 'till the party's over
Hold tight, we're in for nasty weather
http://preview.tinyurl.com/rhrg7
Posted by: Skandia Recluse at June 20, 2013 03:25 PM (NoU9g)
http://www.guardian.co.uk/world/2013/jun/20/fisa-court-nsa-without-warrant
Posted by: RiverC at June 20, 2013 03:25 PM (KTytI)
Posted by: Adam Smith's Invisible Pimp Hand at June 20, 2013 03:26 PM (b9K4P)
Posted by: CAC at June 20, 2013 03:26 PM (D1zGN)
Well, fuck.
DRUDGE
Posted by: Mil-Dot
I hope Zimmerman also has some cute pictures from when he was 10 years old. I can't believe his defense team thought that was a good idea.
Posted by: Dang at June 20, 2013 03:26 PM (Hx2XA)
Posted by: ThisBeingMilt at June 20, 2013 03:27 PM (7mQyC)
We went from Trickle Down Economics to Pee On Their Heads And Tell Them It's Raining Economics.
Mark Levin made the point yesterday that we have about two to three thousand people, most unelected, running our country, our lives.
And those few thousand people have close cronies. Everything they do is for themselves. Everything that happens benefits them first. The rest of us get The Hose. We get the bill, and we get the screwing, and we get the consequences.
Posted by: soothsayer at June 20, 2013 03:27 PM (vyPsz)
Posted by: Assault Citizen Anachronda at June 20, 2013 03:27 PM (pyh5u)
Posted by: steevy at June 20, 2013 03:28 PM (9XBK2)
Posted by: toby928© at June 20, 2013 03:28 PM (QupBk)
Posted by: rickl at June 20, 2013 03:30 PM (sdi6R)
http://preview.tinyurl.com/ykd2lgp
Posted by: Skandia Recluse at June 20, 2013 07:28 PM (NoU9g)
I didn't fart you liar
Posted by: The Jackhole at June 20, 2013 03:30 PM (nTgAI)
So much for a "jury of your peers".
WTF? An all-woman jury? I've never heard of such a thing.
On the one hand, presumably some of them are sympathetic with the idea of self-defense against thugs; but on the other hand, some of them could be "guns are icky" types.
Posted by: rickl at June 20, 2013 07:30 PM (sdi6R)
Sounds like fodder for an appeal
Posted by: The Jackhole at June 20, 2013 03:30 PM (nTgAI)
--------------------------
I think those rounds might be a little harder to swap readily if the need arises. 55 grain FMJ everybody wants. I've traded it for other ammo I wanted, and even took it in trade for a scope recently.
Posted by: Tobacco Road at June 20, 2013 03:31 PM (4Mv1T)
Posted by: steevy at June 20, 2013 03:32 PM (9XBK2)
That's what's gonna happen.
Posted by: Dang at June 20, 2013 03:33 PM (Hx2XA)
http://scoamf.us/BK
Posted by: Blanco Basura at June 20, 2013 03:33 PM (jGsIV)
I figure that if the time comes to start shooting, it's all over, anyway.
But what do I know? I'm stuck in Chicagoland.
Posted by: Kensington at June 20, 2013 03:33 PM (5rVux)
Really? Those are specialty ammo that I would think would make them more valuable in trades.
Posted by: EC at June 20, 2013 03:34 PM (doBIb)
Can I still get an appointment at Planned Parenthood?
Posted by: Juror #4 at June 20, 2013 03:34 PM (Hx2XA)
The Crazy World of Arthur Brown
Fire
http://www.youtube.com/watch?v=NOErZuzZpS8
Posted by: Peaches at June 20, 2013 03:34 PM (8lmkt)
Logistics for insurgency doesn't work that way....
you actually don't want too much ammo if you think you need to unass the AO
Posted by: Esteban10077@sven10077 at June 20, 2013 03:35 PM (LRFds)
Posted by: soothsayer
What is smelly, motivated by envy and rapes?
Posted by: Dang at June 20, 2013 03:35 PM (Hx2XA)
You've got two hands, that means you can hold two guns!
The truthful answer? You can never have "too much".
Posted by: EC at June 20, 2013 03:35 PM (doBIb)
Posted by: Tobacco Road at June 20, 2013 03:36 PM (4Mv1T)
===============
Here's how we're gonna do this!
Step One: all women jury
Step Two: ???????
Step Three: Free as a bird, baby!
Posted by: Zimmerman's Attorneys at June 20, 2013 03:37 PM (5rVux)
http://www.youtube.com/watch?v=1NiZxwdNvAI
Posted by: Skandia Recluse at June 20, 2013 03:37 PM (NoU9g)
What is trust fund spawn that have not bathed in months?
Posted by: Mil-Dot at June 20, 2013 03:37 PM (Cs2tJ)
Dr. Zimmerman will see you now.
Posted by: Blanco Basura
POW!
Posted by: Juror #1 at June 20, 2013 03:37 PM (Hx2XA)
During the End of Days, you want that kind of ammo. Ranges be damned.
Posted by: EC at June 20, 2013 03:37 PM (doBIb)
Posted by: HoboJerky, Hash Hunter at June 20, 2013 03:38 PM (X4HxX)
I've been hearing DOOM! from AoSHQ for like five years now. Make with the DOOM already!
Posted by: Gregory of Yardale at June 20, 2013 07:23 PM (azHfB)
On behalf of Monty, I have this to say - "Patience, padawan."
Posted by: steveegg at June 20, 2013 03:39 PM (o44nj)
This Tuesday is the special election in MA. On that day MA idiots will send another dim bulb, Ed Markey, to the U.S. Senate...for life.
No substance. No brains. No ideas. And yet we still couldn't defeat him.
Posted by: soothsayer at June 20, 2013 03:39 PM (KeJAW)
I see .40/rd for the steel case Russian crap. If your rifle can shoot it, then stock up.
Posted by: EC at June 20, 2013 03:39 PM (doBIb)
Posted by: rickl at June 20, 2013 03:41 PM (sdi6R)
Just like Wisconsin in early 2010.
But then... suddenly..
Posted by: CAC at June 20, 2013 07:26 PM (D1zGN)
Unless you steal Walker and the Fitzgerald brothers from us, I don't see the good "suddenly".
Posted by: steveegg at June 20, 2013 03:41 PM (o44nj)
Flechette's are nice for trying times.
---------------------------------
I see .40/rd for the steel case Russian crap. If your rifle can shoot it, then stock up.
Have plenty of Hoppes on hand though. Shit is dirty.
Posted by: Mil-Dot at June 20, 2013 03:42 PM (Cs2tJ)
http://www.youtube.com/watch?v=WFAfF1aTjNI
Nice. Mariachi trumpets too!
Posted by: Mil-Dot at June 20, 2013 03:43 PM (Cs2tJ)
Posted by: rickb223 at June 20, 2013 03:46 PM (ndIek)
Posted by: HoboJerky, Hash Hunter at June 20, 2013 03:50 PM (X4HxX)
Russian steel case shoots okay. You may have a problem with the extractor if you shoot a ton of it, though.
Groups (with my M14) were not as tight as good brass stuff, but it WILL do the job.
Clean-up is facilitated by using some over the counter spray carb cleaner. Just be careful about getting it on the woodwork.
Finally, before shooting, simply drown the moving parts with spray silicone--works as well as gun oil, with no mess.
Posted by: irongrampa at June 20, 2013 04:00 PM (SAMxH)
Posted by: Evil Bob at June 20, 2013 04:18 PM (Os+6p)
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Posted by: Multitude at June 20, 2013 02:42 PM (bpONz)