I just had to be Lucifer's Hummer for a minute there; when someone mentioned yesterday it'd make for a great handle, I couldn't agree more! Someone has to adopt that one.
Remember when they used to make diners out of old traincars or streetcars? I keep expecting them to do the same thing with RVs -- either weld a couple together, or make them into a series of small dining rooms with breezeways between and the kitchen in an old Airstream (for the stainless steel).
I've seen old transit buses turned into taco trucks with onboard dining; that's another option for the larger RVs.
Are you here? Haven't seen you post in a while. Just wondering if you still contend that the GSE's are not on the brink of failure...and are you still of the opinion that folks here are wacked out cassandras?
Sorry, but this seems like a fine thread for an OT post...
"Just wondering if you still contend that the GSE's are not on the brink of failure"
Yes, well, I am wondering if today's market action in the financials is largely movement in advance of FNM's heavily manipulated earnings release tomorrow.
Bad news == Another POP ?
Wouldn't surprise me. I may take a little off just in case...
Who knows in bizarro world? We all have a yen to find out! (nyuk, nyuk)
One thing I found interesting in analyst estimates for the current quarter, they have been bouncing around a little bit over the last 90 days but not too much...however, the full year loss estimate per share has increased by 100% in the last 90 days, from -$1.56 to -$3.34 (2009 earnings are still thought to be positive, falling from $2.21/share to $0.91/share).
Now don't be mean, AoTC is walking his talk - and I would guess that his book is quite diversified as well - it is folks like him that help this from being a total echo chamber.
GD-
Glad someone else saw the CRMPG report. I wonder why Goldman Sachs wants other companies to fess up to their off-balance sheet assets. I'd imagine it has something to do with limiting their future risk, gaining ground in the financial sector, making other firms more viable for buyouts... very interesting.
scary thing is that people are living out of their cars, who have been foreclosed on. I see them at the gas station with a makeshift bed in the trunk. Thank god for pass thru seats...
My brother was a chippy and used to live in his small van along with his tools and dirt bike, and would park on site, have a few drinks each night and walk to work. Compared to my rat race lifestyle in the city his easy going barbeque and beer and hard labour lifestyle seemed like something to work towards.
Beginning next month, anyone with access to the Internet should be able to log onto WhoCanISue.com. The new website plans to help consumers determine whether they actually have a case
This cartoon is quite funny. But my experience has been otherwise. Most of my thoughtful, professional friends, people you'd expect to be on the ball, have only the faintest of ideas about the turmoil in the financial markets.
This is what they understand now:
- Their stock portfolio/retirement account has lost value.
- Their homes have probably stopped appreciating.
- Gas and grocery prices are substantially higher than a few years ago.
This is what they do not understand (because the effects are not direct):
- American banks are saddled with bad paper.
- USD has lost substantial value over the years.
- Credit contraction is ongoing.
- Home values are unsustainable.
What events do you think must happen before professionals with good jobs and homes in good neighborhoods began to dramatically feel and respond to this credit unraveling?
(OT because banks down 5% at 330pm are leading stocks into a possible parabolic decline of the type that usually elicits some fed "open mouth policy", but it's no good, the next bear market leg down has begun.)
What events do you think must happen before professionals with good jobs and homes in good neighborhoods began to dramatically feel and respond to this credit unraveling?
bankruptcy in large American corporation that produces at least 637,000 cars...
Tim come on we both know that will never happen. Uncle Sam already bailed out Chrysler once, I'm sure they would have no problem extending them some more untold billions. That said, CCC+????? I think IndyMac's bonds are higher rated at this point. Apparently someone out there expects them to default very, very soon.
But I don't understand it at all. Chrysler has such a wide variety of auto lines. SUVs, trucks... SUVs...
peAkcredit writes:
(OT 2: BAC down 7% and serious market deterioration continuing into the close. So much for phony statistics, hiding losses and corporate double-talk).
Will they manage to massage FNM earnings to 'beat' the expected -$0.69/share loss or no?
That will have a lot to do with tomorrow IMNSHO.
Since it was beaten to a pulp today ahead of the news...I don't think it will pop too much but I do think that we have seen the highs in xlf for quite a while. The commodity stocks need to rally before we go back down IMO. So fiancials flat commodity stocks up maybe...
Tim writes:
Perfect setup IMO, up Friday & Mon Down into Options ex...
Volume was still low (as it has been since mid-July). We still are seeing higher lows during this four-week bear rally, so I don't think you can draw any conclusions yet. IMO, if we're down big tomorrow, this rally is done.
With you on those higher lows and low volume that's why I think we have to go higher on decent volume(exhaustion buying if you will). A record run up in the commodity stocks could take us there IMO. Remember we haven't gone up too far from the SP lows in July so we could easily get back there in a volatile week. The XLF already spiked above the 50 day MA so I think its done IMO...
With you on those higher lows and low volume that's why I think we have to go higher on decent volume(exhaustion buying if you will).
I don't see it. I think we're down tomorrow. The Dow has tested 11700 three times and been repulsed each time. I don't see any buying pressure that could push it over at this point. But what do I know?
The Dow has tested 11700 three times and been repulsed each time. I don't see any buying pressure that could push it over at this point. But what do I know?
Maybe a spike above then a drop. Not enough volume to show conviction either way yet but the upside know is small and I am not buying anything expecting the market to move higher. If it does spike higher I am 100% short again...
Tim: Dude, I don't have a collar to pop or a shoe to put a penny in. If I'm at a Country Club, someone is getting married. That dude looks like exactly 40% of the males below the age of 30 in my area though. I think his name is Dylan or Tyler.
Actually, I beleive that during the depression, people took their house roofs and put them on horse driven carts as they looked for jobs. I believed that they were call Hoovervilles.
LOL!
RV sales are holding up nicely (from what I heard on the radio).
Is this the new version of the "Parking the van by the river"?
Here is an interesting experiment:
Look at the home page for the "Counterparty Risk Management Policy Group"
Counterparty Risk Management Policy Group III - Home
Now, try to seek a nonexistent subpage on this domain such as:
Goldman Sachs - Document Not Found
What a concept!
Lucifer's Hummer:
It makes sense; after all, you can sleep in your Hummer, but you can't drive your McMansion to work.
Lucifer,
Is it a H3 or H2 and does is float for when the comet strikes and the tsunami comes ashore?
Of, course, Mike! This is more like an H4 - It's one of these puppies:
Wisconsin Duck Tours - Wisconsin Dells, WI
Yeah, LH was actually me, btw.
I just had to be Lucifer's Hummer for a minute there; when someone mentioned yesterday it'd make for a great handle, I couldn't agree more! Someone has to adopt that one.
Liar! LH was me!
"I've got to change the transmission oil on my house."
And thus, 'Logan's Run' prototype was created...
"We figured out how to get affordable housing and save on gas at the same time"
Another solution is leaving the suburbs.
Remember when they used to make diners out of old traincars or streetcars? I keep expecting them to do the same thing with RVs -- either weld a couple together, or make them into a series of small dining rooms with breezeways between and the kitchen in an old Airstream (for the stainless steel).
I've seen old transit buses turned into taco trucks with onboard dining; that's another option for the larger RVs.
Aheadofthecurve,
Are you here? Haven't seen you post in a while. Just wondering if you still contend that the GSE's are not on the brink of failure...and are you still of the opinion that folks here are wacked out cassandras?
Sorry, but this seems like a fine thread for an OT post...
"Just wondering if you still contend that the GSE's are not on the brink of failure"
Yes, well, I am wondering if today's market action in the financials is largely movement in advance of FNM's heavily manipulated earnings release tomorrow.
Bad news == Another POP ?
Wouldn't surprise me. I may take a little off just in case...
AOC - is licking his wounds. His ELN pick probably wiped out his entire portfolio.
barely,
Who knows in bizarro world? We all have a yen to find out! (nyuk, nyuk)
One thing I found interesting in analyst estimates for the current quarter, they have been bouncing around a little bit over the last 90 days but not too much...however, the full year loss estimate per share has increased by 100% in the last 90 days, from -$1.56 to -$3.34 (2009 earnings are still thought to be positive, falling from $2.21/share to $0.91/share).
Just run the Hummer for awhile and you can cook on the engine block.
Yeah, I'm afraid we may have lost AOTC, at least until we get another nice government bailout and a bear-market rally.
c&c,
Now don't be mean, AoTC is walking his talk - and I would guess that his book is quite diversified as well - it is folks like him that help this from being a total echo chamber.
Does the signature say 2004? Prescient...
At 0% APR for 72 month (for qualifed buyers), its a steal.
Deutsche Bank to Foreclose on $3.5 Billion Casino
Deutsche Bank to Foreclose on $3.5 Billion Casino (Update1) - Bloomberg.com
Deutsche Bank AG will foreclose on the $3.5 billion Cosmopolitan Resort & Casino in Las Vegas after developer Ian Bruce Eichner defaulted on a $760 million loan, two people briefed on the situation said.
Haha...Another front group exposed.
Nice catch!
REBear writes:
At 0% APR for 72 month (for qualifed buyers), its a steal.
Yeah, but who pays for the gas?
GD-
Glad someone else saw the CRMPG report. I wonder why Goldman Sachs wants other companies to fess up to their off-balance sheet assets. I'd imagine it has something to do with limiting their future risk, gaining ground in the financial sector, making other firms more viable for buyouts... very interesting.
scary thing is that people are living out of their cars, who have been foreclosed on. I see them at the gas station with a makeshift bed in the trunk. Thank god for pass thru seats...
Yeah, but who pays for the gas?
Taxpayers will silly... we will open the SPR and fill it up later when oil is 150 dpb.
RV sales holding up???
You're joking, right?
Winnebago reported on June 20 that earnings fell 73% from the same quarter a year ago!
curious-er,
That's a completly different problem. Right now our goal is affordable living.
RV sales holding up???
HEs taking the long view =) over the last 40 years have sales risen exponentially ...
My brother was a chippy and used to live in his small van along with his tools and dirt bike, and would park on site, have a few drinks each night and walk to work. Compared to my rat race lifestyle in the city his easy going barbeque and beer and hard labour lifestyle seemed like something to work towards.
Somehow though life just gets more complicated:-(
More Good news ?
Consumer Credit - M/M change
Consensus $ 6.4 B
Actual $ 14.3 B
More credit == More defaults
Just when the bottom was put in ?
Foreclosing on a casino is a funny idea. You lost the bet on your loan and instead of the casino taking you, you get to take the casino.
Beginning next month, anyone with access to the Internet should be able to log onto WhoCanISue.com. The new website plans to help consumers determine whether they actually have a case
Who Can You Sue? Click Here - TIME
Get those bastards! I think I'll stick with real life for entertainment, you just can't make this shit up.
Is iSUE.com taken?
This cartoon is quite funny. But my experience has been otherwise. Most of my thoughtful, professional friends, people you'd expect to be on the ball, have only the faintest of ideas about the turmoil in the financial markets.
This is what they understand now:
- Their stock portfolio/retirement account has lost value.
- Their homes have probably stopped appreciating.
- Gas and grocery prices are substantially higher than a few years ago.
This is what they do not understand (because the effects are not direct):
- American banks are saddled with bad paper.
- USD has lost substantial value over the years.
- Credit contraction is ongoing.
- Home values are unsustainable.
What events do you think must happen before professionals with good jobs and homes in good neighborhoods began to dramatically feel and respond to this credit unraveling?
Oh, I get it! Living in your large motor vehicle becomes satirical fodder only when college-educated people are forced to do it.
Check.
(OT because banks down 5% at 330pm are leading stocks into a possible parabolic decline of the type that usually elicits some fed "open mouth policy", but it's no good, the next bear market leg down has begun.)
What events do you think must happen before professionals with good jobs and homes in good neighborhoods began to dramatically feel and respond to this credit unraveling?
bankruptcy in large American corporation that produces at least 637,000 cars...
Very nice cartoon. And the Hummer actually comes with 2 ashtrays: 1 inside, and 1 outside (with a "Fuel" label).
New Cartoon:
Bush arrives in Beijing after chiding China
George "The United States believes the people of China deserve the fundamental liberty that is the natural right of all human beings,"
China F*%& off Bush
Tim come on we both know that will never happen. Uncle Sam already bailed out Chrysler once, I'm sure they would have no problem extending them some more untold billions. That said, CCC+????? I think IndyMac's bonds are higher rated at this point. Apparently someone out there expects them to default very, very soon.
But I don't understand it at all. Chrysler has such a wide variety of auto lines. SUVs, trucks... SUVs...
Spiv,
Don't forget the SUV/truck crossover!
@Now don't be mean
Energyecon, last time I checked aotc routinely called people assholes and was a troll. "He will not be missed."
Perfect setup IMO, up Friday & Mon Down into Options ex...
(OT 2: BAC down 7% and serious market deterioration continuing into the close. So much for phony statistics, hiding losses and corporate double-talk).
The Hummer dude is all wrong. That dude looks like an accountant and his wheels are pathetic.
This, my man, is a hummer:
http://static9.servers.fueldev.tv/9/CP/P/PU/PU5/PU5.trans_extension_jpg_max_side_780.jpg
peAkcredit writes:
(OT 2: BAC down 7% and serious market deterioration continuing into the close. So much for phony statistics, hiding losses and corporate double-talk).
But at least we closed off the low!
MM,
Was that before or after ELN tanked?
Missed those episodes, had some fairly civil exchanges with him some months back...YMMV.
Tim,
Will they manage to massage FNM earnings to 'beat' the expected -$0.69/share loss or no?
That will have a lot to do with tomorrow IMNSHO.
Will they manage to massage FNM earnings to 'beat' the expected -$0.69/share loss or no?
That will have a lot to do with tomorrow IMNSHO.
Since it was beaten to a pulp today ahead of the news...I don't think it will pop too much but I do think that we have seen the highs in xlf for quite a while. The commodity stocks need to rally before we go back down IMO. So fiancials flat commodity stocks up maybe...
Tim writes:
Perfect setup IMO, up Friday & Mon Down into Options ex...
Volume was still low (as it has been since mid-July). We still are seeing higher lows during this four-week bear rally, so I don't think you can draw any conclusions yet. IMO, if we're down big tomorrow, this rally is done.
CSC I always picture you as country club guys with a classic jaguar and white gloves...
CSC was that Vanilla Ice or Snow in front of the Hummer?
TCA
With you on those higher lows and low volume that's why I think we have to go higher on decent volume(exhaustion buying if you will). A record run up in the commodity stocks could take us there IMO. Remember we haven't gone up too far from the SP lows in July so we could easily get back there in a volatile week. The XLF already spiked above the 50 day MA so I think its done IMO...
Tim writes:
TCA
With you on those higher lows and low volume that's why I think we have to go higher on decent volume(exhaustion buying if you will).
I don't see it. I think we're down tomorrow. The Dow has tested 11700 three times and been repulsed each time. I don't see any buying pressure that could push it over at this point. But what do I know?
The Dow has tested 11700 three times and been repulsed each time. I don't see any buying pressure that could push it over at this point. But what do I know?
Maybe a spike above then a drop. Not enough volume to show conviction either way yet but the upside know is small and I am not buying anything expecting the market to move higher. If it does spike higher I am 100% short again...
Tim: Dude, I don't have a collar to pop or a shoe to put a penny in. If I'm at a Country Club, someone is getting married. That dude looks like exactly 40% of the males below the age of 30 in my area though. I think his name is Dylan or Tyler.
If I'm at a Country Club, someone is getting married
Hear you. If I'm at a CC I am using the bathroom (clean) or asking for directions before they tow my Honda...
Actually, I beleive that during the depression, people took their house roofs and put them on horse driven carts as they looked for jobs. I believed that they were call Hoovervilles.
What a woodshed excursion for AIG - closing 18% down on 4x 90 average volume - ouch!
"When are the "smart" (cough..cough) people going to notice?"
Good question Mr. Beach.
Until last week, I assumed my "smart" friends had finally noticed.
Then one of them said to me, "I see no evidence that the housing market is going down yet".
Here's what's happened to this particular brainiac in the past year:
Sold a house in Seattle: original asking price, 620K. sold price, 480K
Bought a short sale in a smaller community. Original asking price 280K. bought it for 230K (highest bidder out of 6 bids).
Has at least one short sale or foreclosure on every _single block_ for five blocks out surrounding his home in every direction.
But, so far at least, he sees no evidence of a weakening housing market.....???!!!
These people are in a deep deep sleep. Self-hypnotized.
Short of a jumbo jet crashing through their very own roof, I see nothing that will wake them up to reality.
CSC - Are you sure that guy in your Hummer photo isn't "Freeze" from the Icy Hot Stuntaz?