Iceland Closer to IMF Bailout
Submitted by
CalculatedRisk on Sun, 11/16/2008 - 1:12pm (150 comments)
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Mortgage pig vs. nemo!
El segundo!
Morticia startles me when she 'oinks'.
As has been said by others, the IMF exists to ensure the continued deprivation and wealth destruction of those who they trap in their cross hairs. My daughter was rabidly anti them and WTO et al. I never agreed with her, felt she was just gratuitously rebellious (she is). Now, I am leaning more to the truth of their suspicions.
Volker,
These books showed me the dark side of the World Bank and IMF.
Nothing is ever as it seems.
Amazon.com: Confessions of an Economic Hit Man (9780452287082): John Perkins: Books
Amazon.com: The Secret History of the American Empire: Economic Hit Men, Jackals, and the Truth about Global Corruption (9780525950158): John Perkins: Books
Kaupthing, I think I love you
You think these terms are onerous? Wait until you see the terms the IMF will be imposing on the US. They may go so far as to insist that we make good on our promises. Shudder.
OT: US to leave Iraqi cities and towns by mid '09. Out altogether by end of 2011.
Debt relief?
Me want a piece of the ice!
IMF = A deal with the Devil
reptillian writes:
OT: US to leave Iraqi cities and towns by mid '09. Out altogether by end of 2011.
That's what the Iraqis said. And they waited until they 'knew' there was a receptive administration to say it to. We shall see what we shall see.
Isn't IMF the US?
Thread Music
The bailouts continue ...
If the IMF or World bank are involved it isn't a bailout it's rape.
But who is thinking of the artists? Where is their bailout?
"What is still selling is work that doesn't have an overblown sense of fashion, and by that I mean that the artist is young, 'everyone' has to have his work, and you're lucky if you can get it for $150,000. It's now more about finding very good quality work at a fair price. People have had to become more realistic."
Even art takes a hit in economic downturn
Iceland has their own version of MTV:
YouTube - Overture by the Wonderbrass
Please, make it stop.
First National Bank of Iceland?
Seconding zoom's recommended reading list.
Accepting a loan from the IMF is accepting to stage a robbery on your citizens. I will leave in the middle whether that's fair or unfair. I will say though that there are other ways out of a crisis, none of which are easy, but they are real. But for those you need strong leadership with domestic support as well as defiance to those who challenge you.
Current Icelandic government is spineless, deluded etc.
that's less than the money we're going to give to our car companies...
News on automaker bailout:
Senator Shelby Opposes $25 Billion to Aid Automakers (Update2) - Bloomberg.com
If they don't do this, lower Michingan becomes a basket case.
So it goes.
Are their geothermal stations state owned? Kilowatts are price setters.
/With apologies in advance to our friends in Iceland.
ION- after 20 years, I'm still uncommitted about whether the IMF is a good thing or a bad one.
The best I can come up with is that they're basically a pier lender doing some brokering on the side.
Not exactly the devil.
I would recommend Iceland open sports hunting with central bankers as the prey to get out of this mess.
Is there ever a case where borrowing from the IMF or world bank has turned out well?
For more on the World Bank, read 'Mortgaging the Earth.' Very good book.
OT-
California wilfires could shut down city power grid?
RTTNews - Latest Earnings,Upcoming Earnings, Pos Pre Announcements, Pos Pre Announcements , Positive Surprises, Negative Surprises, Hot Stocks, Stock Split Calendar, Stock Buybacks, Dividends, Negative, Positive PreAnnouncements,Surprises ....
Ministry of Truth: No.
the arts of satire and parody are in a parlous condition these days. Reality is just too nimble in outstripping even the most extravagant satire.
Les Miz-
excellent.
I like parlous better than perilous anyway.
Alright Stop, Collaborate and Listen: Tell Iceland they're looking at this all wrong...
Why Bubbles Are Great For Our Economy Why bubbles are great for the economy. - By Daniel Gross - Slate Magazine
Time to Re-Leverage
More useful (and mildly humorous) off-topic reading:
Beat the Press Archive | The American Prospect
Friedman gets it wrong ALMOST as often as Ben Stein.
I read the other day that over $500 billion of Citi's 'deposits' are foreign owned and are not FDIC insured.
Don't think I, as a private American citizen, am obligated to make good on
those deposits if Citi should go bust.
Why is it any different for the people
in Iceland? You can't hold a 'people'
responsible for the problems of a bank.
You can't hold a 'people'
responsible for the problems of a bank.
Unit472 | 11.16.08 - 5:14 pm | #
According to the UK they are all terrorists and not "people".
The link about art sales is interesting. I often buy handmade items on Etsy.com (sort of an eBay for crafters) and have a "favorite" items list of things for sale. This week I've gotten two private messages from the sellers of some of my "favorited" items (the sellers can see if you've flagged something of theirs as a favorite) offered slashed prices on said items.
Art and fashion always gets more conservative in a downturn; expect to see less gaudy prints and weird fabrics and more basic colors (jewel tones, etc) and styles.
Have obligations you can't repay? Borrow money!
A great plan; I can see no flaw in it.
wally(Unrated) writes:
Have obligations you can't repay? Borrow money!
A great plan; I can see no flaw in i
Quoted for truth.
Question: Would it not have been better to go BK as a country and at least start w/ nothin?
and @ wally
writes:
Have obligations you can't repay? Borrow money!
Pakistan is borrowing from the IMF to pay interest on debt.
Would it be out of place to go down the list of people that run the IMF and make note of any conflicting interests?
They could become a second Switzerland with secret Banking Laws. This would recapitalize the banks
Speaking of terrorists.
"Barack Obama is being given ominous advice from leaders on both sides of the Atlantic to brace himself for an early assault from terrorists."
Barack Obama is warned to beware of a ‘huge threat’ from al-Qaeda - Times Online
I love the smell of fear mongering in the morning. Smells like a threat.
The first criticism of the IMF that really got my attention was that it is a convenient way for the west (ie the USA) to bribe friendly (ie compliant) dictators.
They can give, say, The Philippines a series of big IMF loans, which Marcos then siphons off to his swiss bank accounts, and when the Filipinos put into power a president who is deemed by "the west" as being less useful/friendly/compliant, the Filipinos have to pay off the loans that they were ostensibly given to help them "develop".
Certainly the IMF is in need of reform. Another reading suggestion: Amazon.com: And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina (9781586483814): Paul Blustein: Books
From the amazon review of Perkins' Confessions...
"Perkins spent the 1970s working as an economic planner for an international consulting firm, a job that took him to exotic locales like Indonesia and Panama, helping wealthy corporations exploit developing nations as, he claims, a not entirely unwitting front for the National Security Agency. He says he was trained early in his career by a glamorous older woman as one of many "economic hit men" advancing the cause of corporate hegemony. He also says he has wanted to tell his story for the last two decades, but his shadowy masters have either bought him off or threatened him until now. The story as presented is implausible to say the least, offering so few details that Perkins often seems paranoid, and the simplistic political analysis doesnt enhance his credibility. Despite the claim that his work left him wracked with guilt, the artless prose is emotionally flat and generally comes across as a personal crisis of conscience blown up to monstrous proportions, casting Perkins as a victim not only of his own neuroses over class and money but of dark forces beyond his control. His claim to have assisted the House of Saud in strengthening its ties to American power brokers may be timely enough to attract some attention, but the yarn he spins is ultimately unconvincing, except perhaps to conspiracy buffs."
Has anyone ever corroborated any of his confessions?
"If they don't do this, lower Michingan becomes a basket case."
There is a giant Toyota plant in TN and a new one getting going in S.A. TX. Honda has Marysville OH, I am sure there are plenty of others that I am not aware of. Michigan's loss in TN's gain.
If Big Auto goes BK the real owners (pensions) will restructure and be better off for it. GM's CEO refuses to step down.
and coversely, has anyone disproven them?
No position either way...
Read his book. It is compelling.
totally off topic
does the CR Companion (nice job Ken)go tango uniform when killfile is active for anybody else?
NEW YORK - JPMorgan Chase & Co. will likely start cutting thousands of jobs worldwide beginning next year, Britain's Sunday Telegraph newspaper reported.
The report, which cited people close to JPMorgan, said the bank has begun consulting on job cuts, and the cutbacks will likely be on a comparable scale to those of JPMorgan's rivals.
Citigroup and Goldman Sachs have cut about 10 per cent of their work forces, a proportion that if applied to JPMorgan would mean more than 3,000 jobs cut, the Telegraph reported.
A JPMorgan Chase spokesman declined to comment on the report.
The bank has already been eliminating jobs due to big profit hits from the financial crisis, and redundancies following the buyouts of failed thrift bank Washington Mutual and investment bank Bear Stearns.
Network Error
new york time best selling author john perkins
These bailouts are full of shameless extortion. Iceland AGREES TO OBEY THE LAW in return for $2.1 Billion in relief.
Failing businesses buy up small banks for a few million so they can qualify for BILLIONs in bailout money.
Homeowners default so they can qualify for free money towards their mortgage to get instant equity and a low interest 30 year loan.
You get paid for having no money (welfare), paid for not working (unemployment), and paid for failing so hard you actually threaten the entire economy (AIG, GM, Ford).
Anyone see an intentional pattern here?
Try Steve Berkman's World Bank and the Gods of Lending.
Not a crackpot. Insider.
CC
Check out a mag called 'Multinational Monitor' (available online)
Can anyone explain to me why DJ futures are down 459? I've been away/not paying attention all weekend - seriously. Is this just more of the same, or what?
"These bailouts are full of shameless extortion."
Sure is a nice economy you have here...
It would be a shame if something were to happen to it...
Perkins may be a proxy for someone else.
In college, my sociology professor was very adamant that this was our true foreign policy and that Citi was the conduit for these deals.
This was a good 15 years prior to his book coming out, so, I have to believe there is a/some factual basis.
China is doing similar deals now in Central America ($350MM port in Baranquilla, etc.), so I suspect the game is the same but the lender has changed.
Happier times in geothermal wonderland:
YouTube -
Consigned to the zamboni of history.
CC
Corroborated? Ancillary observations and 100's of news stories regarding the harm on resource rich third world countries by the IMF, WTO rules and the world bank. Large multinational companies signing contracts to provide services and harvest resources right after the IMF makes a loan. I have no concrete proof his claims are factual. It does tie in with my world view.
History has pointed out the use of our military throughout the last 200 years to support our economic goals. The State Department hasn't held a news conference and informed me that oil is the primary reason we are in Iraq but I have my suspicions. Not trying to be specious here but if it walks like a duck...yada yada yada.
Icelanders would be better served by Putin's money--and NATO knows it. This will be "different."
Futures not opened yet. Gotta wait till 6 PM EST
viz "War is a racket" riff by USMC Maj. Gen. Butler...
War Is a Racket - Wikipedia, the free encyclopedia
Iraq's Cabinet approves U.S. security pact
Iraq's Cabinet approves U.S. security pact - CNN.com
The agreement sets June 30, 2009, as the deadline for U.S. troops to withdraw from all Iraqi cities and towns, Iraqi government spokesman Ali al-Dabbagh said.
The date for all troops to leave Iraq will be December 31, 2011, he said.
Sure hope some oil was negotiated with the deal.
suecris(Unrated) writes:
Can anyone explain to me why DJ futures are down 459?
The session was still open through the close of the equities mkt so it reflects the equities close. Those are Friday's close values. It'll open for a new session later tonight.
MrM - quite. -459 was Friday's close, as far as I can tell from kaboomberger.
Will be useful to check whether circuit-breaker land is annexed tonight.
PS where's AIG's toes and a Fulda update?
CC
How many people live in Iceland?
No, Dow was down 337 on Friday.
~300K
lol mine was the approximate iceland census
How many people live in Iceland?
Duarte
300k or so
citizen energyecon your graph porn is amazing
Anonymous(Unrated) writes:
No, Dow was down 337 on Friday.
Dow close + futures market action. They trade after the 4pm equities close.
Dow futures are really lightly traded comparatively so don't make too much of them.
If Icelanders did not rely on their socialist government to manage so much of their affairs, then they would be more immune to the IMF. The IMF has no other way to enslave the citizenry except through their government.
Anony - no, dude. Dow futures were down 459. Dow daily was down 337.
Elementary.
CC
square the circle. Dow went down 122 in after hours trading. Check both the up/down figure and the last price.
Don't call it Iceland, think of it as Bakersfield without oil or Buck Owens.
At $13b its GDP is less than what San Jose is seeking from the TARP.
Senator Shelby Opposes $25 Billion to Aid Automakers
Senator Shelby Opposes $25 Billion to Aid Automakers (Update2) - Bloomberg.com
`Companies fail every day and others take their place,'' Shelby said on CBS's Face the Nation'' today.There's not a bank in this country that would loan a dollar to these companies.''
More politicking? or genuine aversion?
Thanks to all about the futures. I should have realized they closed for the weekend.
re: Perkins... Does sound like great reading, and I've read plenty of other accounts of national intelligence agencies that give their corporations a little help. It's always nice when information gets confirmed from other credible sources.
re: Iceland... well no shortage of fish or natural heat or mutton. They could certainly use a few more ponies though. Anyone know if they have large scale greenhouses for fruits and veggies?
For those that are interested, PE Obama and Michelle are going to be on 60 minutes tonight. Here is a clip:
Obama Pledges Foreclosure Help - 60 Minutes - CBS News
More politicking? or genuine aversion?
In addition to Hyundais new plant, which will produce 300,000 Sonata sedans and Santa Fe sport utility vehicles (SUVs) annually when it opens in 2005, Mercedes and Honda are in the midst of major expansions at their respective manufacturing facilities.
These three automakers are expected to account for more than 10,000 direct jobs in Alabama by 2005.
But its only the tip of the iceberg in the overall employment boon created by these new assembly plants. Already, Hyundais suppliers have announced more than 3,300 jobs and an investment exceeding $500 million.
That follows a recent trend in which the Alabama Development Office says nearly one-third of all new jobs created in the state since 1998 have been automotive-related.
"If Icelanders did not rely on their socialist government to manage so much of their affairs, then they would be more immune to the IMF."
Some conflation here between socialism and welfare capitalism.
In socialism the state owns and operates the means of production, storage and transport, design, research and development, marketing, banking, and owns and manages even retail trade. In the SU no private businesses were legally permitted. None.
If that's what Iceland has then it's socialist. But I think you'll find that's not the case at all in Iceland.
Uh, Senator, there isnt a bank that would loan money to a bank right now.
But, why quibble?
Goldman Chief Blankfein, Top Executives to Forgo 2008 Bonuses
Goldman Chief Blankfein, Top Executives to Forgo 2008 Bonuses - Bloomberg.com
Blankfein, Chief Financial Officer David Viniar, Co- Presidents Jon Winkelried and Gary Cohn, and Vice Chairmen J. Michael Evans, Michael Sherwood and John S. Weinberg informed the compensation committee of the New York-based bank today that they would forgo the awards, according to Lucas van Praag, a company spokesman.
"Anyone know if they have large scale greenhouses for fruits and veggies?"
Yes, but to what scale I don't know. I doubt if it's enough to completely supply the domestic retail market.
`Companies fail every day and others take their place,'' Shelby said on CBS's Face the Nation'' today.There's not a bank in this country that would loan a dollar to these companies.''
More politicking? or genuine aversion?
Anonymous | 11.16.08 - 6:09 pm | #
There's not a bank that would loan a dollar to Alabama either. For that matter, the banks don't have any money, and if they did, wouldn't lend it to another bank overnight.
RE: GS bonuses
Top 7 execs forgo bonuses is not good enough. While individually big, their bonuses are a small fraction of the overall GS bonus pool. That bonus pool, however, is a sizeable fraction of the capital injection provided by tax payers.
Please explain these to UAW.
Crude at around 55, one would think it won't drop further due to the fall in reserves.
But i guess what GS says the rest follows.
suecris writes:
Can anyone explain to me why DJ futures are down 459? I've been away/not paying attention all weekend - seriously. Is this just more of the same, or what?
Futures: check the "time" column for the futures (Bloomberg): if a time is shown, these are active futures, if a date is shown, these are old numbers
Story on a resort in Alaska that uses a small geothermal plant to run it's refrigeration and greenhouses. Iceland uses geo thermal almost exclusively.
I'm always amazed when I see a clean energy source adapted to so many uses. Seems so easy.
Geothermal Power in Alaska Offers New Renewable Energy Model - Chena Hot Springs Resort - Popular Mechanics
*In a 1991 internal memorandum, then-World Bank economist Lawrence Summers argued for the transfer of waste and dirty industries from industrialized to developing countries. Just between you and me, shouldnt the World Bank be encouraging more migration of the dirty industries to the LDCs (lesser developed countries)? wrote Summers, who went on to serve as Treasury Secretary during the Clinton administration and is the outgoing president of Harvard University. I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that. ... Ive always thought that underpopulated countries in Africa are vastly under polluted; their air quality is vastly inefficiently low [sic] compared to Los Angeles or Mexico City. Summers later said the memo was meant to be ironic.
zoom
Geothermal prawn farming, orchids and more...
404: Page not found - Te Ara Encyclopedia of New Zealand
More politicking? or genuine aversion?
Anonymous | 11.16.08 - 6:09 pm
Demagoguery
RE: oil prices: I'm not an expert, but don't be surprised if oil falls to lows not yet predicted, i.e. below 40.
001: see this
Richard's Real Estate and Urban Economics Blog: Larry Summers for Treasury
Australia and NZ not impressed by G20, down about 1%. But not panicking either.
"I have reluctantly concluded that the rifts between me and segments of the Arts and Sciences faculty make it infeasible for me to advance the agenda of renewal that I see as crucial to Harvard's future," Summers wrote in a letter posted on the university's Web site. "I believe, therefore, that it is best for the university to have new leadership."
The no-confidence vote was to be Summers' second in a year; Summers faced his first last March after he said at an academic conference that women may have less innate scientific ability than men. The motion passed by a 218-185 vote.
A university statement said that Summers will take a yearlong sabbatical before returning to Harvard to teach as a university professor, the highest rank a faculty member can achieve.
Summers, 51, was the U.S. secretary of the treasury during the Clinton administration. Before becoming Har-vard's 27th president, the New Haven, Conn., native was also chief economist of the World Bank and professor of economics at Harvard."
http://media.www.browndailyherald.com/media/storage/paper472/news/2006/02/22/CampusWatch/Harvard.President.Summers.Resigns.Amid.Latest.Controversy-1623165.shtml
Some of the smartest people in our country gave Summers a no confidence vote. Sounds reasonable to put him in charge at the Treasury. What harm could he do?
Barley,
Thanks - I but am an egg...
CR is the master, when my charts equal his I will have some serious ego going then lol - but those charts didn't come out too bad from OpenOffice.
MrM pointed me at some detailed Agency data, but it seems much more broken up rather than in one nice spreadsheet...not like they were intentionally making it difficult to aggregate and get the same picture or anything...but there is some gathering and grinding that I might not get to until next weekend for FNM and FRE.
Andy in NZ-
If I won the lottery I would move my family to NZ as soon as the check cleared. Thanks for the link.
This is interesting. 9.25 Hectares of veggies growing in icelandic hothouses. For CSC's benefit, 6% of the total 18.5 Ha are dedicated to pot plants
Invest in Iceland Agency - Information centre for foreign investors investing in Iceland.
So, farmers? Can 9.25 hectares support 300,000 people? What would be enough?
zoom, 001: I can't remember where I read it, but he was in favor of deregulation in a big way.
I know people in Auckland, even have, or had, an offer of a place to stay on a visit, in Devonport.
I assume the Icelanders use the phrase "pot plant" in the British and Irish manner to mean an indoor decorative plant that grows in a pot, AKA houseplant. I hope I'm wrong...
RE bailouts:
Colombia to help irate pyramid scheme investors
"Colombia looks to appease irate investors after pyramid scheme's collapse costs millions...President Alvaro Uribe vowed to help poor investors regain their savings, but said Saturday that wealthier clients should have known better and will "have to take some blows to the chest."
Bailouts for everyone...although this is barely different than the homebuilding boom in some parts of the US.
I know people in Auckland, even have, or had, an offer of a place to stay on a visit, in Devonport.
Pavel Chichikov
Nice spot! Just across the harbour from me!
"Anyone know if they have large scale greenhouses for fruits and veggies?"
Roughly, I think, 9.25 hectares should be 25 acres. Fruit and veg for three hundred thousand people?
"I read the other day that over $500 billion of Citi's 'deposits' are foreign owned and are not FDIC insured.
Don't think I, as a private American citizen, am obligated to make good on
those deposits if Citi should go bust."
Trust me you will make good on those deposits one way or another. CitiBank is the Saudi bank. We'll pay through higher oil prices and higher treasury rates.
"Nice spot! Just across the harbour from me!"
It's so far and long away (DC). I visited a friend in Brisbane some years ago by myself, and I missed my wife so much I swore never to travel again without her.
It's like that especially when you get older.
I don't think that is enough. But it should be easy to create more if needed.
Only ~300k people live in Iceland, and how many billions will it get? What a joke. I can see why San Jose thinks it's entitled to $14 billion.
UB - I have no doubt that Summers is a smart cat, and perhaps I was unfair to him to bring up an old blurb as the one I posted above.
OT, Auto Industry
FINANCE - - Top News - Comcast.net
"The fragility of the whole thing is very much like a house of cards," said Bob Viswanathan, an assistant professor of operations management at the University at Buffalo School of Management. "Everybody knows that the finance markets are so interconnected, but the auto industry is worse."
Millions of jobs located in a relatively small area (i.e., most of the upper midwest). This is NotGood.
"I don't think that is enough. But it should be easy to create more if needed."
There would still be operating expenses and imports required - seed, hydroponics supplies, pumps, materials. I don't know the technology, but I would question if Iceland can be entirely self-sufficient in fruit and veg production. Autarchy most difficult these days.
I looked up some up Icelandic veggie stats at the Icelandic Stats place
I think the only fruit grown in the greenhouses is bananas, but I don't know that for a fact. Lots of cucumbers and tomatos grown. Then root veggies like potatos grow fine outside in the south.
Based on the StatIce veggie stats, I don't think people should be starving in any case. The 2007 harvest per person came out to:
43 kg of potatos
37.5 kg of 'grains'
5.3 kg of tomatos
Couldn't find numbers for fruit, but admittedly only spent a few minutes digging.
I weep for the Republic. The right banner ad next to this entry reads:
Inspire Indulgence.
Give friends and family American Express® gift cards...
It's like that especially when you get older.
Pavel Chichikov | 11.16.08 - 6:46 pm
I've noticed I've become a homebody as I get older. I'm not as excited about leaving town for trips as when I was in my 20's and 30's.
Some of the smartest people in our country gave Summers a no confidence vote. Sounds reasonable to put him in charge at the Treasury. What harm could he do?
Sumner's paper on gold price manipulation -
gata : Message: How Summers learned that as treasury secretary he'd need to rig gold
"an article entitled "Gibson's
Paradox and the Gold Standard" published in the Journal
of Political Economy (vol. 96, June 1988, pp. 528-550).
The article, which appears to draw heavily on a 1985
working paper of the same title by the same authors, is
an excellent technical piece, revealing a high level of
expertise regarding gold, gold mining, and the
connections among gold prices, interest rates, and
inflation."
NZ does geothermal pretty good. Had some guys working on a project in Indonesia in 2000 before it all went tango uniform under Wahid.
Strange days. Now being repeated. To nth.
CC
Just to clarify, there's circumstancial evidence that Sumners' gold price theory was used to create the illusion of a strong dollar during Clinton's administration.
"43 kg of potatos"
In Russia you'd want, I believe, 100 kilos per family, and that would be in addition to bread and grains. At least that's what they were distributing in the summer of '91, when the distribution system was broken.
Depression 2009: What would it look like?
Lines at the ER, a television boom, emptying suburbs. A catastrophic economic downturn would feel nothing like the last one.
"And above all, a depression circa 2009 might be a less visible and more isolating experience. With the diminishing price of televisions and the proliferation of channels, it's getting easier and easier to kill time alone, and free time is one thing a 21st-century depression would create in abundance. Instead of dusty farm families, the icon of a modern-day depression might be something as subtle as the flickering glow of millions of televisions glimpsed through living room windows, as the nation's unemployed sit at home filling their days with the cheapest form of distraction available."
Lines at the ER, a television boom, emptying suburbs. A catastrophic economic downturn would feel nothing like the last one. - The Boston Globe
Anecdotal story: I received a notice yesterday that Comcast was raising my internet rate by $2.50($52-$55). Being reactionary I immediately picked up my phone to cancel. When the csr asked why I told her that Comcast raising rates in the midst of an economic crisis was insulting. She apologized, told me she understood and dropped my rates to $29.99 a month with a faster bandwidth speed. Quickly dropping my moral outrage I took the deal, thanked her and hung up.
I was astounded and then a little concerned. If comcast, without me asking, willingly dropped my rates $300 a year then what does that mean for their existing customer base? Are times getting so bad that the csreps have the power to keep customers at all costs?
"I've noticed I've become a homebody as I get older. I'm not as excited about leaving town for trips as when I was in my 20's and 30's."
I'll be 70 in January. We seldom go more than five miles from home. Just don't want to.
funny stuff
better than cliffdiving!
Nice Shirt
Wahoo - check out the quadrangular rates USD, JPY, AUD, NZD and the trading day is yet young.
Mother of Mary, I'm going to have so much fun tomorrow on currencies.
Let It Flow, aka just one more fix:
YouTube - Spiritualized - Let It Flow (Official Music Video & Lyrics)
CC
Pavel,
"We seldom go more than five miles from home. Just don't want to."
Never would have pictured that-- spry comments .
Compliments, sir.
"the icon of a modern-day depression might be something as subtle as the flickering glow of millions of televisions glimpsed through living room windows, as the nation's unemployed sit at home filling their days with the cheapest form of distraction available."
Shouldn't this be in front of their computers filling their days with CR, the cheapest form of entertainment/distraction available?
--
"Friedman gets it wrong ALMOST as often as Ben Stein."
Hawley Smoot ,
Two of the finest agents of the Crooks, i.e., propagandists. They are engaged in breeding American dopes. Sorry, truth must be pointed out no matter how it offends some here.
A family friend of Sen. Smoot's niece (who told me that Sen. Smoot told her that the bill was to help family business -- meat-packing),
Jas
Authorities: One of California wildfires 'human caused' - CNN.com
Authorities: One of California wildfires 'human caused
Shouldn't this be in front of their computers filling their days with CR, the cheapest form of entertainment/distraction available?
Elvis
Unlike TV, CR usually requires a functioning brain.
I've noticed I've become a homebody as I get older. I'm not as excited about leaving town for trips as when I was in my 20's and 30's.
Baca | 11.16.08 - 6:57 pm | #
Amen, baby. The only place I like to go (with my wife at the helm most of the time) is out on the lower Potomac River and Chesapeake Bay in our Boston Whaler walkaround. The Bay looks like the ocean, exposes you to all kinds of weather, resulting in an experience that takes us light years away from what will soon become Obamaland.
Arriving at Dulles recently after an extended trip west cured me of any desire to travel by air. What a dump and an embarrassment for the Nation's Capital!
"Unlike TV, CR usually requires a functioning brain.
curious-er"
You give everybody around here too much credit. In fact, I think it was my lobotomy that drew me to this site.
Bloomberg, OT:
"The cost of living in the U.S. probably fell in October by the most in almost sixty years"
Brings to mind CB's call for peak CPI in Q4. Seems dead obvious now; didn't then.
The wrenching turn from crackup boom to crackup must continue to be brutal for many of the hedgies. Final notice day for Dec futures-- Coming soon to a theater near you.
CR has totally obviated my need for other forms of information/intertainment. Please do not remove or change the thread format in any way. Thank you.
Japan's Economy Shrinks 0.4%, confirming Recession
Japan's Economy Shrinks 0.4%, Confirming Recession (Update4) - Bloomberg.com
Japan's economy, the world's second largest, contracted more than economists expected in the third quarter, confirming it entered its first recession since 2001 as companies cut back spending.
Gross domestic product fell an annualized 0.4 percent in the three months ended Sept. 30, the Cabinet Office said today in Tokyo. Economists predicted the economy would rebound 0.1 percent after shrinking a revised 3.7 percent in the previous period.
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Anak,
FWIW, my forecast for YoY negative CPI is during 2009Q2/Q3. CPI rate has peaked for quite many years to come.
Jas
=entertainment-oops!
"FWIW, my forecast for YoY negative CPI is during 2009Q2/Q3."
Jas, as much as I am (partially) positioned for this, it is a daunting prospect for hoards of debtors, aka, friends, family, neighbors.
Will be watching, and you would have something to crow about I suppose.
While you're soothsayin' Is there any time frame where you see any extraordinary monetary measures feeding through to price infl and weaker USD vs alt currencies?
Credit, take your medication:
YouTube -
Where is the EST evening crowd? Still devouring squirrelz and ponies?
CC
"Compliments, sir."
Anak.
And mine to you, sir.
It's not that I'm particularly decrepit physically. I don't think it's even some sort of non-physical exhaustion. After years of stress one becomes sensitized to stress.
Maybe you could call it 'burn-out.'
Obama defending Paulson on 60 minutes.
Negative CPI. What a freakin joke. I've heard that one off ond on for 45 years.
If one is so naive as to believe Gummit stats, they get a lifetime subscription to dopes are us.
Are taxes, property sales and other considered in the cost of living? Hedonic adjustments are moronic. According to your Gummit, the price of a new car is around $6,700!
The Shilling Prechter cabal for deflation has been broken for almost 30 years.
Okie dokie, I'll give you a couple of quarters of negative REAL prices but I'll bet the ranch and lever my balance sheet thereafter.
Deflation. What a hoot!
Sorry for the personal note. Seems a bit quiet here just now.
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"While you're soothsayin' Is there any time frame where you see any extraordinary monetary measures feeding through to price infl and weaker USD vs alt currencies?"
Anak,
My financial forecasts have 3-5 years time horizon and I don't see anything like high inflation until after 2011.
My forecast time horizon for political problems is 10-25 years. US, as we have known it for 220 years, will be finished before 2033. Regrettably, all good things come to an end. Americans are in major denial.
Jas
Jas, are you about 80 years old?
You sound like like grampy did at that age.
CC
ew thread up, my brothers-
Well, how do you like this? It looks as if we're going to have it, like it or not:
Obama says aiding economy trumps budget deficit
| Reuters
Ross,
Upthread I meant to say "first notice day / last trading day".
Given your certainty, you leasing any warehouses or silos next month? Lotsa bargains on the boards now... just saying.
Didn't plant quite as much winter wheat which may have been a mistake.
Grain silos are excellent investments. Back in the 70's every substantial farm in Kansas put in at least one. Slip forming a silo is fun to watch.
Thinking seriously about a Laotian vegetable plantation.
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"Jas, are you about 80 years old?"
CC,
None of your effing business. Another example of dope-talk.
Jas
PS: I am absolutely certain that if comments related to my ethnic origin (earlier) were directed at a poster with a Jewish name it would be lot more interesting. But who would dare There is lot of brainwashing in America on many issues related to human institutions including tribalism.
Ross - slip-forming a silo may be fun to watch, but it isn't fun to DO, especially when the slip-form is running 24/7- just sayi
TOTALLY OFF-TOPIC
I have a nagging question that may interest the computer types out there and my computer guy isn't available.
I am using a spreadsheet (Excel 2007) with hyperlinks to PDF files.
I can open the PDF by clicking on the hyperlink, but cannot go to the page number using Adobe command format filename.pdf#page=xx.
Interestingly, when I use Internet Exploder or Firefox to open the PDF, it goes straight to the page.
Any knowledge out there to help computer illiterate old man?
mp: You used to be able to do this with older version of excel and acrobat. I was thinking that if you create a bookmark and ref that instead of the page it would work, but tried it and it didn't. From the looks of what others have tried, the easiest way is to create a macro. This is one that uses internet explorer to launch the pdf to the specific page, but I saw a couple of others that will let you do it directly iirc.
Sub OpenPDFpage()
Dim myLink As String
Dim TargetPage As Double
Dim objIE As New InternetExplorer
myLink = "path/filename.pdf"
TargetPage = 7 'Page number to be shown
With objIE
.Navigate myLink & "#page=" & TargetPage
.Visible = True
End With
End Sub
Uncle Billy, you're a genius!
Thanks!
Hey, if Iceland gets $2.1 billion, that scales to $1969 billion for the US. Woo woo! Sign us up for that!