NY Fed: December NY Manufacturing "conditions deteriorated significantly"
Submitted by
CalculatedRisk on Mon, 12/15/2008 - 5:40am (140 comments)
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It's a first!
Here comes Santa Claus!
Don't worry its all been factored in by the market.
Freudian slip: "Weak" instead of "week"
Today, I woke up from a dream where the Bush announced to the world that the U.S economy was a Ponzi scheme - ala Bernie Madoff.
Thank god that is just a dream and not true
So that is good for a 1000 point dow rally?
pdx, thanks! It looked correct to me - ROFLOL. I'll blame it on my head cold (bummer).
Best to all.
Inconcievable is running 2nd to hoocoodanode and closing fast.
Considering how the econmoy was held together with duct tape and bailing wire it should be no suprise how quickly the wheels fell off.
Inconcievable is running 2nd to hoocoodanode and closing fast.
Comrade Alexei Mikhailovich | 12.15.08 - 8:55 am | #
Heh.... just re-watched Priness Bride this weekend...... what a classic film.
Someone on CNBC will comment that this just confirms the bottom. Buy!
Did you watch this video of someone throwing shoes at bush?
This is patently wrong. Why waste good shoes on this guy?
YouTube - Bush Dodges Shoes Thrown by Iraqi Journalist
To be fair to The Empire State Manufacturing Survey - it started in July 2001, so the history does not go that far
As bad as the economy is, there's lots of good news coming out that will keep the market pump going.
Bush car bailout.
Obama stimulus speech.
Fed rate cut.
Another Obama stimulus speech.
Overseas rate cuts.
Another Obama stimulus speech.
Bernanke candid admission that quantitative easing is working.
Appointment of Obama stimus czar.
Everybody start piling into commodities so we can help them drive the dollar DOWN!
This is just the beginning of what is likely to be a grim weak week of economic news.
Translation: Fed's gonna juice the markets. Time to buy!!!!
And what did I tell you...
Second verse, day one.
Oil up big. Not on supply/demand.
On dollar weakness.
Translation: Fed's gonna juice the markets. Time to buy!!!!
Comrade Dazed and Amused | 12.15.08 - 9:02 am | #
With what? Seriously... another rate cut? They are already walking a very thin line between propping up an insolvent system and going BK themselves.
The smell of a post-industrial society in the morning....it smells like victory.
Lucky that America dynamically pioneered financial engineering, otherwise, numbers like these would cause the stock market to sink.
When dollar weakness gets rolling, it's a downhill train nobody can stop.
It went on for years. Now, it's rolling again.
Shoeducken.
As bad as the economy is, there's lots of good news coming out that will keep the market pump going.
rich | 12.15.08 - 9:00 am | #
I believe you, and I believe in MS's thesis that "they" are trying for an orderly exit.
I'm just wondering if the Citadel/Madoff news is going to cause someone to shot "FIRE" and start running.
The Fed is out of ammo. Any further rate cut is pushing on a string, and will only prove the idiocy of ZIRP. Why do they keep trying it? Not saying that the markets won't react, but only negative results will come from artificially low rates.
Another announcement that will juice the markets:
"Authorities say Madoff didn't lose everything. A few mil are left."
Well, there's your "decoupling" right there. Decoupling of the financial system and the underlying economy, that is. What little industry and transport we had left is rapidly disintegrating.
-Looks around-
Where are we going, and why are we in this handbasket?
Something like 2-5 mills (that's tenths of a cent) on the dollar.
I think if the listed people had anything else anywhere else, they would mostly panic & sell. I would.
Hey did anyone see the 'sock and awe' at the press conference ?
Will the Madoff news cause even more unwinding today? Some very risk people just realized they may be short on cash and need to liquidate more securities.
$50 billion evaporated, and it's child's play compared to the CDS market.
USD/JPY = 90.308 ( down from 90.35 less than an hour ago ) Looks like we will break through 90 this week easy.
Anyone up for a new Made off with your money scheme?
Duh?? We are consumers
I think that CR should tell all shoe jokesters that they should go a couple of threads down.
Or have a post just directed to shoe jokes.
Net foreign purchases goes from 66 billion to 1.5 billion???
What is that all about?
Or have a post just directed to shoe jokes.
Point taken.
Here is a "funny:"
Optimal Investment Services strengthens risk team
Thu, 15 May 2008, 16:20
Optimal Investment Services, a Geneva-based fund of hedge funds manager belonging to the Santander group, has announced the strengthening of its risk team with hires in the UK and Switzerland and the appointment of Gilles Prince as chief risk officer.
Optimal manages 15 funds of funds and includes an advisory and portfolio services team that structures fund of funds portfolios and provides investment advisory services. The business has more than USD10bn in assets under management and investments with more than 200 hedge fund managers.
Based in Geneva, Prince will head Optimal's quantitative research, investment risk and operational due diligence teams, and will also chair the risk committee that oversees and pre-approves all potential hedge fund investments.
Optimal is the outfit with the Strategic US Equity fund that put all or most of its money with Madoff. Yeah, real good at calculating investment risk. Real good. Atta boy, Optimal. Atta boy.
Sequoia:
You may be interested in a fund I am organizing. Standard 2 and 20 arrangement, except that the entire fund is to be invested in options on stock of the advisory firm managing the fund. With each annual payment of performance fees the options will increase in value and the fund will grow at an exponential rate. I expect that the velocity of your gains based on these options on the carried interest will make you wealthy beyond your wildest dreams within a few short years.
I'll let you know when we are ready to accept deposits.
Donnerwetter, there still is manufacturing in the US (apart from manufacturing AAA-lies) ?
Who cares? We be going up, now.
quote from subscription link to madoff in barrons back in 2001
"Two years ago, at a hedge-fund conference in New York, attendees were asked to name some of their favorite and most-respected hedge-fund managers. Neither George Soros nor Julian Robertson merited a single mention. But one manager received lavish praise: Bernard Madoff.
Folks on Wall Street know Bernie Madoff well. His brokerage firm, Madoff Securities, helped kick-start the Nasdaq Stock Market in the early 1970s and is now one of the top three market makers in Nasdaq stocks. Madoff Securities is also the third-largest firm matching buyers and sellers of New York Stock Exchange-listed securities. Charles Schwab, Fidelity Investments and a ..."
Don't Ask, Don't Tell - Barrons.com
I've been informed on another blog that the economy is actually in much better shape than the "liberal" press is telling us. They know this because the mall was busy where they live. I guess that means I should buy equities and real estate right away or be priced out forever. I'm not sure what it will take for the Pollyannas out there to wake up...
Might be subscription only, but great WSJ article on ETF and last-hour moves.....
Are ETFs Driving Late-Day Turns? - WSJ.com
What's more, both the levered short and long ETFs create trading in the same direction. Here's how: Take a bull market ETF designed to deliver twice the returns when stocks move higher. Starting with a base value of $100 per share, a broker who sells the ETF to a client will have an exposure to the market of $200. If the market falls 10%, the value of the ETF falls 20% to $80 and the broker's exposure falls to $180 once the market's move is factored in. To square the books, the broker sells $20 of the underlying stocks at the end of the day. Then consider $100 of a double-leveraged bear market fund, which leaves a dealer with $200 worth of short exposure. If the market falls 10%, the fund rises in value by 20% to $120. The dealer's short exposure is now $180 once the market's move is factored in. As a result, the dealer must sell $60 to get back in line. As the market grew more volatile in September, Wall Street proprietary trading desks began piling onto the back of the trade knowing that the end-of-day ETF-related buying or selling was on its way. If the market was falling, they would buy a short ETF and short the stocks or the market some other way. If the market was rallying, they would buy a bull fund and go long. Dan Connolly, a proprietary trader in Chicago, says he frequently keeps a window up on his computer tracking trading on the UltraShort Financials ProShares ETF. If the fund is down significantly as the final hour approaches, he'll put in orders to buy shares betting that the declines in financial stocks will be extended before the close. "It's a momentum play," he says. One example of a big ETF-inspired price swing came Dec. 1, when Conifer partner Robin Poore noticed an unusual volume spike in shares of Equity Residential, a real-estate investment trust owned by Conifer's money management unit. Equity is covered by both Proshares Ultra Real Estate long and Ultra Real Estate short ETFs. On that day, shares of Equity Residential fell to $23.85 from $29.83, with more than five million of its total 10.6 million in volume that day coming between 3 p.m. and 4 p.m. Prior to this fall, Equity Residential's daily volume rarely rose above five million shares. According to calculations by Mr. O'Rourke at BTIG, trading on Dec. 1 in the ProShares leverages short fund equaled 52% of the volume in Equity Residential shares. It's a similar story for many financials, Mr. O'Rourke notes; since the beginning of September, daily trading volume on leveraged financial ETFs has equaled 56% of the activity in U.S. Bancorp shares. Mr. O'Rourke notes that, lately, with the market showing some stability, last-hour swings haven't been as violent. But, he says, with the growing use of the ETFs it's likely that the next time there uncertainty in the market "we'll see those moves again."
They probably need a wake-up event in their actual lives, like a job-loss in the family. People will see what they want to see wherever they go. Perception is reality.
comrade kristina;
i dont think they are going to wake up for a long while. after all this has to do with the stock market and financial stuff. besides gas is down good thing we didnt sell the suv.
I'm still impressed that we can have an index that is measured in the negative levels.
I honestly thought that zero was pretty much it as far as the low point on a standard.
As in the automanufacturing index is started at zero, which is the level for the domestic manufacturers in 1750.
When a carriage was destroyed, that started it with a negative.
Off on my weekly trek.
Thanks sdtfs for the ref on "MW".
I'm still impressed that we can have an index that is measured in the negative levels
I'm impressed we still have an index.
For SRS followers:
CHICAGO--(BUSINESS WIRE)--General Growth Properties, Inc. (NYSE:GGP - News) announced that it has not reached unanimous agreement with its syndicate of lenders to further extend the maturity date on the $900 million Fashion Show and Palazzo mortgage loans. The Company is continuing its discussions with lenders regarding its loans.
Top News Archive - Yahoo! Finance
bw/081215/20081215005746.html?.v=1
As my stock broker says..."It has to work, there is no alternative". Wrong...Pitchforks, Pikes, and Torches is also another unwanted alternative but sure is looking more probable every day. How much do you thing the bounty on Paulson, Bernanke and Co. could go for? Would it be coinz or milk and eggs? I would bet it would be for milk and eggs. Why are those who refuse to go along with a failed and crooked system labeled militant or nutcase?
....how many times have we heard "there seems to be a lack of market confidence"?
It's really no wonder with the calibre of individual running the show. From POTUS to Paulson to Mini-Me to Bernanke to Frank.....
Quite honestly I have NEVER been so embarrassed by the total lack of ischaracter and ethics seemingly inbred in some of the people we've elected to office FROM BOTH SIDES OF THE AISLE. Their actions are despicable!
What is lacking can't be attributed to our marginal educational system. The disease they spread kills honor, trust, and truthfulness, and harbors deceitfulness, greed, and national irresponsibility.
It is truly a reprehensible notion to support ANY actions initiated by these thieves and liars.
It is truly a reprehensible notion to support ANY actions initiated by these thieves and liars.
Black Star Ranch | 12.15.08 - 9:45 am | #
Like they care whether you support them or not.
Any further rate cut is pushing on a string, and will only prove the idiocy of ZIRP. Why do they keep trying it?
I think they are simply going to make a formal policy change to match what they are already doing anyways.
TIC data is out, yay! i'll check it out after my phone conferences, but brad setser does the best analysis. quick glance shows it's predictably ugly, but not eek ugly yet.
HP-1326: Treasury International Capital (TIC) Data for October
Comrade Kristina writes:
I've been informed on another blog that the economy is actually in much better shape than the "liberal" press is telling us
Stop reading FOX News.... Kristina
eddie g writes:
Your president should have more shoes thrown at his head, maybe something would sink in.
eddie g | 12.15.08 - 8:54 am | #
That incident was just another example of why radical muslims need to be defeated. Shameful treatment of a foreign dignitary.
That incident was just another example of why radical muslims need to be defeated
I think you meant "de-feeted".
LOL Crewman, I don't. That was on the comcast forums this morning. I got a good laugh out of it.
US Household Net Worth Dn 4.7% To $56.54 Tln In 3rd Qtr
We owe 60 Trillion in unfunded liabilities, so welcome ya'll to Stoogeville USA. We are broke!
Apparently, Bush was the sole survivor.
Kristina.. I knew you were smarter than FOX News
CNBC just said best time to buy stocks cause we are at the bottom
I honestly thought that zero was pretty much it as far as the low point on a standard.
homedad43
You probably think interest rates can only go to zero too. We are all Spinal Tap now.
That "sock and awe" must've shook Bush to his sole(s). Whaddam I doin' here? I should be on Comedy Central.
When I first heard of the account of the journalist throwing shoes, I honestly thought that it was in the WH Press Room.
"Sock and Awe"...priceless.
It could have been worse.
The guy could have banged it on the table and screamed,
"We will bury you!"
before throwing it.
I seem to be able to generate new CR posts by posting comments in what becomes the old thread.
Reuters: One-month U.S. T-bill yield turns negative
30 year bonds rise 1 point after home builder data
| Reuters
DX is starting off with a modest tank this morning...
INO Equities Stocks Indexes - U.S $ INDEX (NYBOT:DX) Price Chart and Quote
Too bad the shoe didn't hit Bush. It might have knocked some sense into his head. "Hey, they don't like me. Imagine that after all of them I have killed!!!"
Hal writes:
Too bad the shoe didn't hit Bush. It might have knocked some sense into his head. "Hey, they don't like me. Imagine that after all of them I have killed!!!"
They derved what they got.
Bush didn't deserve to have one of these third wold animals throwing shoes at him.
How'd we miss this shoe-thrower at Faluja?
From the local rag:
Job cuts hit Texas' chemical industry
404 Error, No such article | Chron.com - Houston Chronicle
The key quote pertains to downstream demand for one of the local chemical plants. It parallels other manufacturing indicators.
Dow will cut output at the Freeport complex to less than 40 percent of capacity from Dec. 15 to Jan. 5. Officials said the company will wait until the end of the period to decide whether to reinstate contractors. But Vernor and other contract companies serving Dow are not optimistic the work will return soon.
Thanks Eric on the ETF article. Norka was correct. I think Brock mentioned the NAV top-ups, too.
Imagine if NY chartered a Lower Manhattan Development Corporation to build skyscrapers as manufacturing/infrastructure stimulus.
Think of the glorious progress after, say, 7 years of such a government plan.
Any truth to the rumor that the shoe thrower was really a disgruntled UAW worker?
Bush didn't deserve to have one of these third wold animals throwing shoes at him.
He deserved much worse than a shoe thrown at him.
That third world animal is probably much smarter than the average American dope.
" Hal writes:
Too bad the shoe didn't hit Bush. It might have knocked some sense into his head. "Hey, they don't like me. Imagine that after all of them I have killed!!!"
Hal | 12.15.08 - 10:03 am | # "
Bush probably misinterprets the incident.
Steve Martin in "The Jerk": "He hates these cans!"
We're all third world now, try not to forget that...
International Demand for Long-Term U.S. Assets Falls (Update1) - Bloomberg.com
Foreign Demand for U.S. Long-Term Assets Declines in October
By John Brinsley
Dec. 15 (Bloomberg) -- International demand for long-term U.S. financial assets weakened in October as foreign investors sold American stocks, corporate bonds and agency debt.
Total net purchases of long-term equities, notes and bonds fell to a net $1.5 billion in October from $65.4 billion the previous month, the Treasury said today in Washington. Including short-term securities such as stock swaps, foreigners bought a net $286.3 billion, compared with net buying of $142.6 billion the previous month.
LJ writes:
Any truth to the rumor that the shoe thrower was really a disgruntled UAW worker?
Are you kidding? If Bush comes through with this handout for GM, the UAW workers will get down on their knees and kiss W's feet!
Anything that keeps their gravy train rolling is good in their eyes.
~~
Bush didn't deserve to have one of these third wold animals throwing shoes at him.
Terrance | 12.15.08 - 10:06 am | #
We have animals here in America too.... we're called "sheep".
Terrance writes:
How'd we miss this shoe-thrower at Faluja?
All hail the glorious Republic and the enlightened souls who are its foundation.
Definition of "third world":
"Can't buy significant amounts of our stuff."
there's manufacturing in NY? where?
I'll take the third world animal over your disgrace of a "president" any day. The dumb fucking fratboy drunk nobody respects. What a pathetic figure.
Interesting comments regarding the incident with Bush.
Are the comments against Bush mainly because you hate America in general, or Bush in particular?
If it's Bush, is it because you blame him for the current economic problems in the country?
Try not to candycoat things Comrade Bear, let us know how you really feel
Henry writes:
Are the comments against Bush mainly because you hate America in general, or Bush in particular?
I haven't stopped beating my wife yet, and I hate trolls most of all. Back to your bridge, tumbrel-rider.
Are the comments against Bush mainly because you hate America in general, or Bush in particular?
If it's Bush, is it because you blame him for the current economic problems in the country?
Bush in particular
Blame him and the Republican policies beginning with Ronnie Raygu
Comrade Bear writes:
I'll take the third world animal over your disgrace of a "president" any day. The dumb fucking fratboy drunk nobody respects. What a pathetic figure.
Shocking how you have no respect for someone that over 50 million people voted for, yet a journalist who takes a cheap shot with a shoe, you elevate to a higher level.
Where does this anger really stem from?
Breaking News: America collectively decides to throw a shoe at
Bush. Outsources job to Iraq.
The de-coupling begins in earnest
Dec. 15 (Bloomberg) -- Latin American and Caribbean leaders gathering in Brazil tomorrow will mark a historic occasion: a region-wide summit that excludes the United States.
Almost two centuries after President James Monroe declared Latin America a U.S. sphere of influence, it is breaking away. From socialist-leaning Venezuela to market-friendly Brazil, governments are expanding military, economic and diplomatic ties with potential U.S. adversaries such as China, Russia and Iran.
Please take your political comments to a political blog - a/k/a - SOMEWHERE ELSE.
Shocking how you have no respect for someone that over 50 million people voted for, yet a journalist who takes a cheap shot with a shoe, you elevate to a higher level.
Where does this anger really stem from?
Stems from knowledge of what is going in
Apparently you lack the same
"Shocking how you have no respect for someone that over 50 million people voted for, yet a journalist who takes a cheap shot with a shoe, you elevate to a higher level."
Almost 50% Germans also supported Hitler. Does that make you respect him?
And then there is this:
http://biz.yahoo.com/rb/081215/business_us_usa_economy_industrial.html
Where does this anger really stem from?
Pete N
Lying nation into a war causing the death of tens of thousands, torture, illegal wiretaps, dividing the nation more than at anytime since the civil war, breaking the budget, drowning New Orleans, sitting on his hands while the economy, housing and 401K's tank, not interested in acting on what is best for the nation but what best suits his personal idealogies. The list goes on and on and o
Henry writes:
Interesting comments regarding the incident with Bush.
Are the comments against Bush mainly because you hate America
+++++++++++++
Most of the comments are from liberal sympathisers, and the anger stems from their frustration with the Democrats in government. They all expected another round of "New Deal" programs in 2006 when they took control of the Congress, but didn't get it.
So now they blam Bush for everything and give the Democrats a free pass on their lack of responsibility.
Anonymous writes:
And then there is this:
So things aren't really that bad then?
Kyle, thanks for the giggle. But really, check out this product known as reality once in a while. I hear it's catching on and can sometimes even prove useful.
Bush didn't deserve to have one of these third wold animals throwing shoes at him.
Terrance
Bush didn't deserve being missed by the sailing shoes
Stop reading FOX News.... Kristina
Crewman | 12.15.08 - 9:47 am | #
I think it's more likely RedState or Freeperville.
Comrade K - what are you doing slumming it? You sound like a classy girl?
When does the Fed meet today?
we blame bush because it is his presidency. these are/were the "w" years. he is the decider. thats why we blame bush
LOL Scot, I try not to sully myself with sites like that.
ps i have wanted to throw shoes at him too
Black Day Market writes:
That "sock and awe" must've shook Bush to his sole(s).
Did you see him laughing after he ducked the shoe? I think he really enjoyed having shown that journalist being a fool thinking he could hit a top notch alert and quick reacting president Bush. And btw, he ducked in the right direction too !
Would like to see how other prominent politicians perform in this "Bush-duckes-the-shoe-test".
Anyway, this was not the fool that "can not read and write and has to read his speeches from the script" (cough)as the media likes to portray him. He has shown superp presence of mind and humor.
Has the children's posting sections at Kos and Huffington closed down? There are 4, 5, maybe more political blogs out there but only one CR. Please try to remember that.
Kyle writes:
Most of the comments are from liberal sympathisers
LOL! Keep with the lowbrow comedy, this is great.
So no one is offended that the office of the president of our country was insulted?
All because you're angry that the housing bubble blew up while Bush was still president?
Ridiculous.
Dawg, only freepers allowed here?
and at some point, the president no longer is awarded the honor he "inherited" from putting his ass in the chair, he is awarded the honor he earned by his actions there. Think of it as a wake-up call.
So no one is offended that the office of the president of our country was insulted?
Not at all
The criminal Bush deserves much worse.
Biggest thief we have ever seen in that office.
Taking the 2+ trillion and handing it to the Wall Street crooks on his way out
I refuse to become embroiled in the partisan bickering however; standing up for Bush's honor at this point is similiar to standing up for the honor of the town tramp...There's no future in it. You simply cannot turn a ho into a house wife no matter how you try. The founders were pretty clear that our President was not to be a "emperor" above reproach, they in fact were all for keeping them humbled...Jefferson is spinning in his grave about now.
Hey CR, you should get someone to enhance your comments. Some sort of ID or captcha. I'd be glad to do it.
So, what about inventories? Rising? Falling?
scav writes:
Dawg, only freepers allowed here?
I guess the rebuke was too subtle for some. Please stop politicizing CR. No doubt already this morning several valuable contributions have been lost because of the intelligent posters who'd rather not try and compete with the chattering classes on all sides.
solidarity writes:
Not at all
The criminal Bush deserves much worse.
Biggest thief we have ever seen in that office.
Taking the 2+ trillion and handing it to the Wall Street crooks on his way out
That was the Democratically controlled Congress.
Amen, Dawg. I'm with you.
Dawg, subtlety is not always your strong point, and calls for political correctness seem to only work in one direction here. Good threads get hi-jacked by traders nonsense all the time, and there are more proper locations for their bandwidth too.
...similiar to standing up for the honor of the town tramp...There's no future in it. You simply cannot turn a ho into a house wife no matter how you try. The founders were pretty clear that our President was not to be a "emperor" above reproach, they in fact were all for keeping them humbled...Jefferson is spinning in his grave about now.
Comrade Kristina
Standing up for the town tramp had a real inspiring result for George Bailey in "It's A wonderful Life."
I prefer to think of Jefferson not so much spinning as "agitating" from the grave.
That was the Democratically controlled Congress.
That was only 700 billion.
Of which only 350 billion was authorized
The other 2+ trillion was done by Bush and Bernacke.
You know the money they refuse to tell Bloomberg where it has gone
Well Dawg, I don't see any George Baileys around nowadays...
"I've been informed on another blog that the economy is actually in much better shape than the "liberal" press is telling us. They know this because the mall was busy where they live. I guess that means I should buy equities and real estate right away or be priced out forever. I'm not sure what it will take for the Pollyannas out there to wake up..."
And there is no global climate change because someone looked out the window and saw snow.
It's an evolutionary deficit. We still think like hunter-gatherers who travel on foot.
SPECTRE of Deflation writes:
"US Household Net Worth Dn 4.7% To $56.54 Tln In 3rd Qtr. We owe 60 Trillion in unfunded liabilities, so welcome ya'll to Stoogeville USA. We are broke!"
SPECTRE of Deflation | 12.15.08 - 9:54 am | #
Spectre: In the interests of hisotrical accuracy, an economist published an article in the Federal Reserve Bank of St. Louis' economic quarterly showing the U.S. was (is) bankrupt. The article appeared at least two years ago.
The economist noted that a more conservative accounting for unfunded liabilities as done by the U.S. GAO would show bankruptcy in a few years. I assume all data-gatherers are now in agreement.
Note to CR:
If you do not do something to police this blog with regard to political rants, the value of what you are doing will be seriously diminished as intelligent readers will migrate to other less ridiculous climes.
Just reporting.
Greg writes:
So no one is offended that the office of the president of our country was insulted?
Who gives a crap? It's an office in a Republic. Talk about a thing of little honor.
The people who want to defend the honoral penumbra of the presidency are the people who dream of making it a kingly corona for their faction from it.
Pardon me, just setting my identity.
If you do not do something to police this blog with regard to political rants, the value of what you are doing will be seriously diminished as intelligent readers will migrate to other less ridiculous climes.
The freepers and snake handlers dont like it when somebody speaks the truth about Bush and his policies.
The hardcore 25%
JohnR(VA) writes:
The economist noted that a more conservative accounting for unfunded liabilities as done by the U.S. GAO would show bankruptcy in a few years. I assume all data-gatherers are now in agreement.
Well, policy has a way of altering facts when those facts would otherwise encompass unfortunate truths.
I would say it is probably going to be "heading toward" bankruptcy in a weird political Zeno's Paradox until the now-inevitable Treasury paper panic pops. It'll be the same as rating agencies or the recessionary calls -- it will let you know with great certainty when the blessed event has already taken place. =)
To Bush's credit, he did duck with a swift and good dodge---- Shows he was sober and alert.
poor old Economics. Reality just keep interrupting into its sublime and pure logical analysis and it's JUST SO MESSY.
JohnR(VA) writes:
Note to CR:
If you do not do something to police this blog with regard to political rants, the value of what you are doing will be seriously diminished as intelligent readers will migrate to other less ridiculous climes.
Just reporting.
JohnR(VA) | 12.15.08 - 10:54 am |
If I recall correctly, CR was ready to shut comments down completely just before Tanta passed away.
Comments probably do need to be shut off until people remember what was so great about the CR comments before it all went to hell.
I'm also kind of sick of all the "first" posts that kick off each comment thread. I wish CR could automatically generate his own first comment with each post he makes to stop that silliness as well.
Aside from being a terrific writer of great wit, Tanta was also a terrific enforcer.
I miss her.
Agree with Anonymiss, the politics here are purile, the comments are ridiculous, i'm disappointed what the CR comments section has become. i'm looking for alternatives right now. I want to find blog where comments are focused on finance, markets, economy. period. full stop.
....there will always be differences as to "where" the line should be drawn...
I leave it to CR - it's "his ball" and he can take it home whenever he wants..
Jeez what is amazing is the infiltration of econ/business blogs, such as this one, from posters who seem to be a blend of teenage anarchist in combination with semi-literate 'Red' Marxist bloggers. What a pile these tools leave most blogs in, time to flush the toilet.
Shoeducken.
Comrade NSA | 12.15.08 - 9:04 am | #
classic
ROFLMAO
wring out your panties girls...
times are tough...people are pissed...as the former Secy of Defense said "stuff happens"
this is still the best blog out there. Just take what you like and leave the rest. Give CR a break.
sheeesh
Perfect escariot..........
this is still the best blog out there. Just take what you like and leave the rest. Give CR a break.
sheeesh
escariot
tru dat
btw, it seemed like our man Fariq had good stuff on his first pitch, looked like a breaking ball.. er, shoe, maybe a little inside and high; Bush stepped back and watched it go by "like the house on the side of the road". Next pitch looked to be a changeup, but he rushed his delivery and the pitch sailed on him - Ball Two. Then the bench-clearing brawl ensued....
My question: how can Iraq claim not to be a failed state when the best they have to offer is a right-handed, junkball pitcher? Everyone knows a big lefty fastballer.. er, fastshoe-er should be your #1.
How much do they actually manufacture there in New York? I thought they were mainly a bunch of suits selling pieces of paper!
a dingo ate the baby writes:
My question: how can Iraq claim not to be a failed state when the best they have to offer is a right-handed, junkball pitcher?
Oh don't worry, they're torturing him to death now so that the honor of the Sean Hannity set can be appeased.
http://www.foxnews.com/politics/2008/12/14/bush-arrives-iraq-surprise-farewell-visit/
Moultrie writes:
Jeez what is amazing is the infiltration
Ideas you don't believe in:"infiltration"::10,000 bushies take a tumbrel ride:"good start"
Anyway, this was not the fool that "can not read and write and has to read his speeches from the script" (cough)as the media likes to portray him. He has shown superp presence of mind and humor.
Werner
Amazing, he can chew gum and walk at the same time! Could have fooled me.
Where does this anger really stem from?
~Don't worry
Be Happy~