On a different note Ms Tanta finally got the Wiki entry I (and tons of others) suggested a year ago! Cheers! http://en.wikipedia.org/wiki/Doris_Dungey (dont know if it was already posted)
Irony: going to see Tanta's Mortgage Pig listing on eBay and seeing spam ad below the picture reading, "Good Credit Score is 700 or above. See yours in 2 easy steps: $0" - I wonder if they are selling credit....
By the way CR, I hope you weren't thinking of taking any more hiking trips soon. Because something tells me this blog is going to get a wee more traffic!
"We need to take up a collection and send one of these to every member of Congress."
Probably impractical. But how about sending Convexity shirts to the Fannie/Freddie heads, and a Slap It to Bernanke? Maybe including a copy of the Compleat Übernerd. . .
(OT) Although I could never bring myself to wear a mortgage-pig shirt and there's no one in my circle I could gift one to (nobody I know would "get it"), I am making a donation to one of Tanta's favorite charities.
Jas I never buy things with labels and I take the labels of anything I get. But I'll be proud to wear the pig. I'll be ok with the few that know what it is. As for your comment totally uncouth. Please show some class.
Just a suggestion to Cathy, but a Mortgage Pig Quilt would be pretty neato. The pixellation looks a lot like quilting stuff I've seen over the years, and the way the pig is framed it looks like the Pig is all tucked in and ready for bed.
Check out the comments, too. There is a classic one from Jas and then a brilliant exchange between Tanta and MP and others on flowers, righteous ass-kicking, Emma Goldman, the dangers of fascism, and the need to save democracy through blogs like this and in conversations across backyard fences.
I would gladly pay for the items and the shipping costs if there is a way, anyway, to send a shirt to Hank Paulson and Ben Bernanke. Somebody must have some "connections" that could produce a real address destination?
JJL: You could send it to their offices. Send a note that says: "If you love your country, you will have a photograph taken of yourself in the mortgage pig shirt and release it to the media."
I found this great great set of troll comments from a while go in the comments today. HaloScan.com - Comments I dont know how the guy did it but he was able to post all that stuff so quick and as I remember from different IP addresses. Tanta thought it was a kid running around a frat some where.
JJL Fedex/UPS overnight is always a good way to get this stuff thru the staff lines.. if you gotta send to the office- i recommend gift wrap in paulson's original 3-page proposal..
A Tanta quote from the thread linked above responding to mp. Out of context here, yet weirdly appropriate.
So, yes. I want flowers. And righteous ass-kicking. Whatever world in which those two things are mutually exclusive is not the world I'm fighting for.
I have read and learned a great deal over the years from both Noam Chomsky and Ralph Nader. Whatever their flaws, they are extraordinary public intellectuals. I am incredibly flattered to be mentioned in the same sentence therewith.
And talk about a couple of dudes who could use some flowers. Holy shit.
Tanta | 04.03.07 - 7:42 pm | #
It's so cute how Jas seems to think that he has the monopoly on understanding what is going on in our society and that the rest of us are beneath him because we so obviously don't. I'm so disappointed to know that I must be a Dope in his eyes because I believe that that we are better off that the Civil War was not won by the States' Rights crowd, and that by purchasing a piece of clothing we are remembering Tanta and her contributions and supporting causes that were dear to her.
I think everyone at The Fed and Treasury should buy one with TARP funds!
Also see: Auditors recommended that Treasury work with government bank regulators to determine whether the activities of financial institutions that receive the money are meeting their purpose.
In a response to the GAO, Neel Kashkari, who heads the department's Office of Financial Stability, said the agency was developing its own compliance program and indicated that it disagreed with the need to work with regulators.
"The GAO's discouraging report makes clear that the Treasury Department's implementation of the (rescue plan) is insufficiently transparent and is not accountable to American taxpayers," said House Speaker Nancy Pelosi, D-Calif.
I go to Springboro regularly and used to live there, my kids still do, where exactly is Image Markit, I would love to stop in and buy directly when I am there again?
Somebody must have some "connections" that could produce a real address destination?
Piece of cake. The tough part is getting 'ol Hank to open it himself.
I will have it appear as if it was sent from another family member of his, so he is more likely to open it up personally, only to find that the Shnapster has been 'in his ekonomie, spendin' his stimuliz chekk.'
I'm sure in time, it'll become his favorite guano "tarp" for when he goes birding.
--
Please don't get me wrong, Tanta had great communications skills to communicate to dopes and that is what is required to succeed as a reporter in Dopeland. Both CR and Tanta are/were very good reporters. Everything is consistent. CR is among the better economists but that aint saying much for a profession that should be shameful for participating in propaganda of gangsters.
Dopes need to get in touch with their born-and-bred dopiness that is extremely difficult to shed. No need for denials. Gangsters who rule America count on born-and-bred dopes for support and defense of the system that gives them the powers. Gangistan and Dopeland are codependents.
Tanta did her job well and CR is doing even better job. I respect both for their skills and high level of intelligence displayed.
I am not trying to win any popularity contest. Dopes like to be liked; I dont care. I say what I observe and conclude.
Would someone point me to a post that elucidates the origin of the now famed porcine mascot? I can surmise that it derives from the "lipstick on a pig" epithet, but I'm sure the birth of this association is far more entertaining.
CR, please keep the link up somewhere, as time moves on. Presently I'm one of the recessed - as in, a number in the U6 statistic - and when time and budget permit, will want to see if items are still available.
Will there be a secondary market for these items? A craigslist for mortgage pigs? Hmmmm...
As one would imagine, the CR crew is off and running on the pig-wear. 90 orders in 90 minutes - a lot of them multiple items.
Apologies to anyone who had trouble and is frustrated.
For those of you without paypal we will attempt to take checks - keep in mind it will slow the process down for you. If you EMAIL rwstick@yahoo.com (my husband) with your request (CHECK ORDER in subject line, please) we'll go from there.
Oh please, oh please, could you make a Mortgage Pig baseball cap (pig with lipstick for the women) with the words "Tanta Vive" underneath the pig? This has become my rallying call to get me through the tears and the sorrow of her passing.
I only posted once a long time ago to one of Tanta's missives that had me on the floor laughing. Soon the tears will dry but the laughter and the pig remain. Tanta Vive!
CDS-- I'll have to get re-registered with e-bay in order to get mine. My account got hacked and subsequently suspended last spring.
I'd like to second the call for a mortgage pig mug. You can get them easily made up at CafePress: Custom & funny t-shirts plus unique gifts I've had a couple done for a small-scale charity and they're quite nice quality. They also handle all the shipping and orders themselves, so no extra burden on your son.
I'd also like to second Dryfly's request that you not be a stranger. And to thank you once again for giving us Tanta's picture-- and the chance to share our feelings of loss.
FDIC purportedly looking at 4 potential bank closings next friday but will probably close only 2 then. Numerous job postings for Irvine are now on the fdic.gov career site.
You have lots of company in the U-6 ranks, and the second derivative for it is spooky...that is, not only is the rate going up, it is going up faster (for the majority who are not math nerds). Got a post up if you care to see...and FWIW, I think we will see additional acceleration in the first quarter before the acceleration tops out (the absolute rate is unlikely to top out until well after the recession ends, it was two years after the 2001 recession ended).
Take care of yourself and those you love, I hope your situation improves soon.
Almost forgot - if anyone is interested, I linked to our farm blog on the homepage spot. Lots of critter pics this time of year, since it's slow, but poke around for garden/building stuff, or check out the eat local links on the side to find good food in your area...
A Mortgage Pig coffee mug with a picture of Tanta, a "We're All Subprime Now" inscription (I like 'WASPN') and a CR headline - will get me thru the credit collapse.
.
citizen energyecon writes: (the absolute rate is unlikely to top out until well after the recession ends, it was two years after the 2001 recession ended).
Did the 2001 recession really end? Or did we just go straight into the housing/credit bubble? I read somewhere that if you merely subtract MEW, the GDP growth for the period is or closely approaches zero.
Back on the farming thing...in the olden days, most folks raised a pig or 2 in their back gardens. They were called "the gentlemen who paid the rent".
At butchering time, people would keep back enough pork to last the year, and sell the rest to the butcher, who then resold it as bacon, ham & sausage.
The proceeds were generally enough to allow the cottager to pay his/her annual rent, and the pigs were cheaply fed from household waste, culled produce, windfall apples, etc.
It's kinda funny to have a Mortgage Pig available now. Maybe the proceeds will help pay the charities' rent....
CHICAGO - Workers laid off from their jobs at a Chicago factory have occupied the building and are demanding assurances they'll get severance and vacation pay that they say they are owed.
About 200 employees of Republic Windows and Doors began staging the sit-in in shifts Friday, the last scheduled day of the plant's operation.
Leah Fried, an organizer with the United Electrical Workers, said the Chicago-based vinyl window manufacturer failed to give 60 days' notice required by law before shutting down. Workers were angered when company officials didn't show up for a meeting Friday that had been arranged by Chicago Democrat U.S. Rep Luis Gutierrez, she said.
During the peaceful takeover, workers have been shoveling snow and cleaning the building, Fried said.
Hi CR -- thanks for fixing the link in your posting -- now it is direct to the eBay site, so we don't have to click around.
What you need to do NOW (please) is fix the link in the sidebar under Tanta's photo so it goes direct to the eBay site. That would probably boost sales somewhat.
Blackrock getting paid 12 million a year to help 'folks' profit on these 'currency trades'? : absolutely priceless
04.12.2008 11:42
unian.net
repost fom WSJ
Ukraines currency spiraled to a new low Wednesday as data showed the countrys population ditching the hryvnia in favor of the dollar faster than ever.
The former Soviet republic is entering a full-blown economic and financial crisis as global demand for steel, its main export, collapses, while Russia continues to threaten it with an ever-higher bill for its gas imports. Confidence in the politically divided government`s crisis plan, which is backed by a $16.5 billion loan from the International Monetary Fund, is fading.
November data released by the National Bank of Ukraine showed it had already hemorrhaged almost 80% of the first part of the emergency IMF loan within a month of receiving it. The National Bank`s gross foreign reserves rose by only $820 million in the month to $32.74 billion, despite its receiving $4.5 billion from the IMF through a hastily arranged stand-by arrangement.
The central bank also said it spent $3.4 billion in foreign-exchange interventions in the course of the month to prop up the currency.
Interesting looking at the rate of change in the CHGDEL data from the Fed - measure of charge off and delinquency rates for all banks. The rate of increase had been accelerating until 3Q2008, which is as recent as the data gets. Small downturn in the rate of acceleration 3Q2008, will be interesting to see if CRE hitting the wall re-accelerates or their is something larger going on...
comrade swan - as I said the eastern eurpoean counties will be the first to blow up...lotsa borrowing in the euro and USD and BP...now have to pay back the loans..
While the country slides into a deep, long recession, health care and health insurance costs are skyrocketing. Medicaid is crippling state govt. finances and virtually assuring defaults on their debts.
Millions of laid-off workers will go uninsured because they can't afford even the group rates of COBRA, let alone the higher rates for individual coverage. This will further tax hospitals and Medicaid systems. And of course, Medicare is a fiscal disaster in the making.
The biggest impediment to getting companies to rehire laid off employees will be health insurance.
It would not shock me if Obama moves straight and quickly to a national single-payer health insurance system. I'm not even sure there would be much opposition in this climate. It might be the best, boldest step to putting America back on its feet again.
The big losers would be insurance and pharmaceutical companies. Maybe some doctors.
The big winners would be everybody else. It would probably be the most efficient fiscal stimulus available.
I just ordered a sweatshirt. At no point anywhere in the process was there a way to specify size. Very bad structure. I hope I will be able to wear the sweatshirt I just bought.
I totally agree with your take on the medical situation. A single payer system, though, would be a disaster. Medicare reimbursements vary widely by specialty, so we could have severe shortages in some specialties. And if services became "free" the system would be flooded with pent up demand. Deductibles keep a lot of little problems out of the system.
Agreed! The biggest issue is weaning the system off of anachronistic employer based plans - which shift costs to individual plans - and have a more uniform system. I'm not in favor of single payer (i.e. government) but beneficiaries of employer plans are the source of huge inefficiencies (over utilization of services for trivial procedures) at the expense of self employed.
And beneficiaries of employer plans hide behind insurance rhetoric that everyone is paying the same rates, which from anecdotal experience I believe is nonsense. Would enjoy seeing the data on this point.
I'm 56. If I had 'free' healthcare insurance I think I might quit work.
Don't know how many others there are like me who would retire save for the not insignificant problem of having to pay for your own health coverage until age 65 but I suspect that it is not an insignificant number.
Then there would a somwhat larger number of people would retire at age 62 except for that same problem.
Over in the UK, those who can afford to, opt out of the NHS. Same for many Canadians. Must be something about government provided healthcare that turns people off if they have an alternative.
rich | 12.06.08: Whenever the government gets involved, taxpayer always loses, if you ask me. (With progressive taxation, some more than others, unfortunately.)
I just started reading:Economics in One Lesson and brings home the hidden cost of government "help."
So much for "no taxation without representation"....
Dr. Munch, the state of our healthcare is so much more complex than that. We treat symptoms rather than creating and fostering Wellness. Our society, our consumeristic culture and sendentary lifestyle, our exploitative market that rewards poor health choices, have all contributed to an epidemic of ill-health, both physically and mentally. In fact, I'd say the patient, meaning us, metaphorically, is pretty much dead. Like Terri Schiavo, we are being kept alive for use as batteries to power the machines...or Machine.
Over in the UK, those who can afford to fly first class opt out of coach. Must be something about coach that turns people off if they have an alternative.
A few days ago you were asking why Conjure's depression clock started at 1 minute to midnight, as opposed to 15 minutes before. I responded by saying that all the slack had gone out of the system.
I highly recommend you view Nassim Taleb's most recent interview with Charlie Rose. He explains why this downturn will be far faster.
He is actually more bearish than Roubini. He says so.
Perfect, Anonymous. What the Unit doesn't realize is, he's not part of the Club...meaning the Oligarchs would just assume shit on him than call him one of their own.
Until a few weeks ago, over the UK if you wanted herceptin, avastin or some other 'expensive' drug and the NHS didn't think it 'appropriate' in your case you were SOL.
If you went to the private sector to get it you lost your NHS coverage.
It was in for a penny in for a pound and if it cost you your life well that was just too bad. Don't think for a minute that, were we to have an NHS the same problems would crop up.
You think your doctors are no good so you go and see a private physician and you get booted out of the whole system.
"Governor Arnold Schwarzenegger warned that he may issue the warrants, which are a promise to pay with interest, to suppliers and contractors as the seizure in credit markets may make it too costly to borrow."
Uh oh. When warrants are soon printed in other deficit states and then accepted for payment or sold at a large discount, you have currency debasement and rampaging inflation hiding in plain sight. As personal income declines and more people rely on their warrants the discount increases.
Cash buyers then demand higher values, and presto, a 2-tier currency black market in the IOUSA.
And all started by an Austrian governor (von Mises rolls over).
Rich, you have some excellent insights and a great Macro vision. Your outlook parallels mine with amazing consistency.
Anyway -- here is another investing idea for the board.
****Investment Idea Alert*************
One of my good friends is in the consignment business (everything: cars, boats, machinery, industrial equipment). Apparently, business is booming and his company is having a hard time keeping up with demand. Construction firms, government agencies, manufacturing companies, are all struggling to raise cash and are dumping assets at HUGE discounts. So they sign them over to consignment firms to auction off. So I asked him what items in particular they are seeing a lot of / seeing discounted heavily.
He said the largest dumping has been in construction/infrastructure equipment. Bobcats, excavators, backhoe's, etc. They are seeing tons of Caterpillar and Deere units that are relatively new, in good running condition, hitting auction. These are units that 6 months ago would have gotten 20k (at auction) and now are selling for 13k.
Anyway, when the consignment business is booming and prices are dropping like crazy, it makes sense that the OEMs are going to be absolutely crushed. CAT and DE will be hammered. I know they're off of their peaks by 50%+ already, but the pain is just starting.
Plus they have been selling lots of expensive equipment to projects like the Oil sands, which are now going to be going on hold and cutting back on capital purchases.
And I'm going to say that emerging market demand will be terrible for 2 reasons. 1) They are worse off than the US for a number of reasons, and 2) Even the markets that are resilient are GOING TO CONSIGNMENT COMPANIES, where they can get the stuff at a fraction of the prices. My friend says they are shipping a lot of the units overseas.
Gonna Start loading up on CAT/DE puts.
Okay, that is my idea for the day. Feel free to throw some rocks at it. Love to get some feedback. Use at your own risk....
Pete Wilson issued scrip back in 91 or 92 which is where Arnie got the idea from.
The warrants Arnie is being forced to consider will carry a 5% interest rate
which isn't bad these days but the thing is California voters, in their 'wisdom', decided to put school funding AHEAD of bonded indebtedness in the payment rankings. Not sure if I would accept Ca. IOUs under those circumstances.
"Don't know how many others there are like me who would retire save for the not insignificant problem of having to pay for your own health coverage until age 65 but I suspect that it is not an insignificant number."
Once you leave corporate life you begin dodging labels like "semi-retired". Health care costs is one of many incentives that keep you in opportunistic mode. Too young to "retire", too experienced to take orders from some know-it-all gen Xer.
I have begun to notice a two tier health problem. The sample group is about 4,000 people. The average age is in the boomer range.
1st Tier
Not well paid by DC standards. Usually ethnic an overweight. They, despite having access to health care, sometimes do not have it. More problems because they are not taking meds for diabetes, asthma, blood pressure, plus they are getting stressed.
2nd Tier
Well paid by US standards. Educated, majority is white. Have health care. They are having increasing problems with anxiety attacks, minor strokes, ulcers, heart attacks. They are as stressed as the others.
Kellogg's is coming out with a new breakfast cereal exclusively for Bankers called TARP. Each production run will have the face of a prominent member on the front of the box. The honors for the first production run go to Paulson.
The cereal will be fortified with 8 essential toxic assets, including MBS and CDS, accounting for 100% of a Bankers daily allowance.
I just came back from Kmart. No lines, no customers for this time of year. Slower than a usual Sat. Call me cynical but I am getting hit up a lot at the register for a donation to St. Jude. Ya think kmart is sitting on the money, taking the interest, before they turn it over?
Sign-wearing former executive seeks work
Paul Nawrocki says he's beyond the point where he cares about humiliation. That's why he weekly takes a 90-minute train ride to New York, where he walks the streets wearing a sandwich board. "Almost homeless," reads the sign. "Looking for employment. Very experienced operations and administration manager.
llawyerliz-here's repost of Taleb:
Eric(Unrated) writes:DAMN YOU, WINDOZE CUT AND PASTE....
If anyone hasn't seen this yet, check out the Taleb interview on Charlie Rose:
the best part is at 15:15 and following....hearing Rose slam his hands on the desk and the shot with his mouth gaping open are classic.
Eric | 12.05.08 - 12:54 pm | #
spouse does hospice/palliative care and they're managing to hold off 15% medicare cuts through Specter sponsored legislation.
She foresees single payer system coming, a la Medicare expansion, instead of government run medical service.
Think that the shakeout would affect physicians mostly in the specialty ranks that have lots of "procedures" that provide great cash flow.
There might also be a welcome return of docs to primary care and general internal medicine, which are sucking wind trying to get docs.
Gavshire, as to your point, I think that ALL manufacturing is going to suck for a while, regardless of who it is. For that matter, what about US Steel?
I'm spending this weekend looking at how to handle the possible "end game" of all of this.
so Obama is going home for xmas. And stayin in kailua. Let me make one suggestion to anyone of his team that happens to puruse here.
Obama, remember when you were a kid , and palyed inthe sand at the beach. the flecks were golden white and baige.
Now there white baige green red, black purple orange. You name it, it's there.
In 25 years, the platics of the world are showing up as ground up bits on one of the finest stretches of sand in the world. Something must be done.
Look it, private health insurance has a 30+ waste rate. You all argue that the govt. is impersonal and could a d*m about your unique situation. One solution is possibly using single payer plan as a floor with those that want to pay additionally for a private coverage on top of the govt. coverage be allowed to do so, if they want to do so... Somehow some way, economically and from a trade standpoint, we must go to a single payer plan and take this weight off of our companies...We need to level the playing field...
I'm for doing anything that eliminates a system based on employer plans. The illiquidity in labor markets it creates simply from the friction in changing or discontinuing employment needs to be eliminated. Not to mention the burden on employers. This system is 60 years old, it arose under very different circumstances (war time economy, low health care costs) and it has outlived its usefulness.
Okay, that is my idea for the day. Feel free to throw some rocks at it. Love to get some feedback. Use at your own risk....
Gavshire Hathaway | 12.06.08 - 3:35 pm | #
If you are talking $13K equipment - it's the small stuff used by 'contractors' - if we have an infrastructure boom - the BIG stuff will sell lights out.
That stuff retails for $100K to $250K - hell the engines alone go for $10K-20K. You don't have to sell a too many of those to make up for the small stuff (skid steers & backhoes). Deere & especially Cat make way more from those than the little stuff.
You might want to do some due dilly before backing up the truck & shorting HEAVY machinery makers - especially until you know what Pres O's stimulus looks like.
BTW - to get back on topic - I've ordered a couple polo's and a convexity hoodie - can't wait!
Might have to start having pictures taken of me in them in silly places & send to CR... Source of the Mississippi, Carhenge, Mitchell Corn Palace, Rushmore... WALL DRUG! Tee hee - challenge the rest of you to beat some of those.
The trouble with buying clothing at the moment is that I have (as a result of this tragedy) brought forward the start date of my almost-annual New Year's Resolution to lose some weight. (In fact, I confess, not "some"; a LOT of weight.)
Not least for the impact it would have on my moderate (not QUITE enough for my doc. to put me on medication) hypertension. Why have a risk factor which can be eliminated with a bit of discipline, thinks ozajh to himself; other people (as we have sadly just seen) get hammered by factors which they CAN'T eliminate.
So; if I can stick with this plan any clothing that fits me now will look ridiculous in the not-too-distant future. (I'll keep the blog informed, since any success can be directly attributed to T's memory.)
Hopefully the merchandise will stay available even if sales show a (quite likely) 'single surge' pattern.
Oh, and add my voice to the chorus requesting a coffee mug.
I am so sorry for the loss of your sister, for the loss to Tanta's immediate significant others.
I am involved in ovarian cancer diagnostic research. It is VERY hard to obtain biological samples from those diagnosed with ovarian cancer (who haven't already started receiving anti-cancer therapeutics which alters the samples). But due to the realities of OC it sometimes pains me to work with the samples I DO have because as I thaw one out for an experiment, I can be reasonably certain that the person who provided it is likely now dead or soon to be dead due to the poor prognosis.
Ovarian cancer diagnostics does appear to be at the cusp of a real takeoff. I know of several labs at my academic institution that are now including OC diagnosis into their research and development work and of others around the country (USA) also in the field.
This particular cancer is so difficult. No clear symptoms, no clear (thus far) biological markers that something isn't right. Quite often, by the time a woman learns that she has OC, it is too late because it has had ample opportunity to metastisize out of control - so by the time it is caught, it is because of side-effects of the metastasis. Few are the "lucky" who have their OC discovered, almost by accident, early enough to truly deal with it.
Oh my - looks like Christmas came early!
Feckless Ness: Can you provide any specific speeches of his? I would be very interested in reading up on him!
"Image Mark-It" How many images from markit.com has CR referenced? LOL! I am sure Tanta appreciated the synchronicity of it.
How can I resist?
A must have item.
I'll be getting my order in early...
~e
Somewhere in Heaven, Tanta is smiling.
Will order. Can you tell me what the captions say?
I always thought CR and Tanta were husband and wife. Shows what you know on the internet.
She will be missed.
"No, it's an MBS."
Hilarious.
What a loss...
I'm honored to don the pig. Vive!
1 currency soon [yogi], I posted some larger images (that I believe are correct). I've emailed Cathy to check.
I'll definitely be buying one or two ... or more items!
Just in time for the Holidays!
Best Wishes.
OK I am so down for the convexity T-shirt...
mo' cowbell!
I just asked Cathy if she would possibly consider putting the image on a mug or button.
My husband vetoed the tattoo idea.
I now know what I'm asking for christmas.
.......
On a different note Ms Tanta finally got the Wiki entry I (and tons of others) suggested a year ago! Cheers! http://en.wikipedia.org/wiki/Doris_Dungey (dont know if it was already posted)
..........
We need to take up a collection and send one of these to every member of Congress.
Hmm. E-bay not working for me. Any other ordering system?
I forgot to write:
CDS thanks for writting here and putting this together....
....
Bought some shirts. . . And Tanta is smiling. . . I can see her in the upper right corner of CR's site
I'm having difficulty with ebay as well. Please let us know if it is possible to buy directly from Mark-it.
thanks...
Specifics on the problems you're having?
You Won eBay Item:Tanta's Mortgage Pig TM Convexity Hooded Sweatshirt
I won!
.....
But seriously CDS I'm a huge consumer of hoodies (hooded sweatshirts).
These are way way under priced. Average hoodie is $40+
.......
OK well 34 of you have made it through. Let me know the problems you are having.
Irony: going to see Tanta's Mortgage Pig listing on eBay and seeing spam ad below the picture reading, "Good Credit Score is 700 or above. See yours in 2 easy steps: $0" - I wonder if they are selling credit....
Thanks again CDS!
Hey CR-
It might be better to link to bombtostick's item listings rather than the search term. In case someone else lists a "tanta's" item:
http://shop.ebay.com/merchant/bombtostick
FWIW, no eBay problems for me at all.
Just ordered! Looking forward to wearing the pig with pride!
Thank you CR and Cathy and family, and of course Tanta.
I can't wait to wear it around and have my first conversation about convexity in public. Meet CR fans! Uber-nerdy.
NR
I am totally buying the convexity one. Thanks CDS!
What a beautiful idea!!!!
I am still in awe of her mind. Going strong right up until the end. Tanta is my age, but she sure puts me to shame.
I hope they sell like HOTCAKES. With SAUSAGE.
Makin' Bacon! Go go go.
No 103% loans to purchase? [Jus' kiddin'.]
By the way CR, I hope you weren't thinking of taking any more hiking trips soon. Because something tells me this blog is going to get a wee more traffic!
"We need to take up a collection and send one of these to every member of Congress."
Probably impractical. But how about sending Convexity shirts to the Fannie/Freddie heads, and a Slap It to Bernanke? Maybe including a copy of the Compleat Übernerd. . .
(OT) Although I could never bring myself to wear a mortgage-pig shirt and there's no one in my circle I could gift one to (nobody I know would "get it"), I am making a donation to one of Tanta's favorite charities.
Sincerely,
Sebastia
how do i tell the size of the shirts?
--
I highly recommend the gear for all dopes. Dopes like to reveal themselves at every opportunity and no reason to miss this one.
Jas
"Although I could never bring myself to wear a mortgage-pig shirt"
Oh, come on Seb, the polo's are very subtle and conservative.
I'm giving PIGS for Christmas!!!
Maybe they could print the caption
"Whocoodanode"
or
"We're all subprime now"
on the back?
Whoever you are Mr CR you are all most as special as Tanta.
Jas I never buy things with labels and I take the labels of anything I get. But I'll be proud to wear the pig. I'll be ok with the few that know what it is. As for your comment totally uncouth. Please show some class.
"She's Got A Heart of Her Own"
A mortgage pig hoodie?!
oh, that's just awesome
PLAYING IT SAFE: Toddler's hoodie ban
-- w
Jas -- Always disappointing...
CR,
Permalink needed for this, for sure.
I love it.
Is gift-wrapping available?
I'd very much like to send one to Hank Paulson just in time for the holidays.
Just a suggestion to Cathy, but a Mortgage Pig Quilt would be pretty neato. The pixellation looks a lot like quilting stuff I've seen over the years, and the way the pig is framed it looks like the Pig is all tucked in and ready for bed.
I highly recommend the gear for all dopes.
NOW can people stop responding to this jerk? He poisons every thread he touches.
I'd very much like to send one to Hank Paulson just in time for the holidays.
Shnaps
ROTFLOL!!!!!
Holy sh*t that would be great! Dont forget Benny, Shelia et. al.!
I still can't believe she has passed. I am almost sick about it.
CR
Sugest you put a link in the upper right. Else it will get buried with all the bad business news pending.
My choice is: Tanta's Mortgage Pig TM Crew Neck Gildan Sweatshirt
Quiet and conservative and reserved just like Tanta's posts.
Paulson is on his way to China,damn I wont to call him a w---e, but I wont.
Jas -- Always disappointing...
Elvis
LOLOLOL~
I've ordered my pig attire and shall wear it proudly.
Welp, I donated to the Crisis Center in Tanta's honor and we're mulling over who gets what pig clothing.
Cathy, this is great. I have a feeling that young man will be able to afford college and maybe a house too!
Max, thanks - I changed the link
http://shop.ebay.com/merchant/bombtostick
All, other ordering methods are up to Cathy.
Best Wishes
I have a feeling that young man will be able to afford college and maybe a house too!
Uncle Billy
Ya mean its not a right! News to me.
Wait, who DOESN'T want to wear a hoodie with a pig talking convexity? I want a specific description of a garment more awesome than that. Seriously.
Besides, Sebastian, if they would laugh than you don't need them, 'cause their not good friends.
z.
their=they're.
I will study my spelling with my hood UP.
z.
I'd like to buy several T-shirts. I don't have a Paypal account. Can I order several directly from the company?
Jas = subprime class
Paradigm Lost - ebay should let you pay with credit card.
As negative as I can be, that comment, even if in jest, is waaaaaaaaaaaaaaaaaaaaay outta line, Jas.
Man up and act like an adult....
At least once in a decade.
Stop sounding like the 90 year curmugeon (sp?) that you read like.
Life is too short, as evidenced by Tanta, to be so angry and ornery.
We are all convex hooded piggies now.
Jas oh Jas!
The LA Land Blog has a link to a great Tanta post from April 2007 that is oh so perfect now: Calculated Risk: Tanta Makes a Confession
Check out the comments, too. There is a classic one from Jas and then a brilliant exchange between Tanta and MP and others on flowers, righteous ass-kicking, Emma Goldman, the dangers of fascism, and the need to save democracy through blogs like this and in conversations across backyard fences.
Tanta made a difference. What a brilliant woman.
Anyone good with photoshop?
Perhaps the EBAY ad should have some models for the Mortgage Pig line.
Maybe Anthony Mozillo wearing one.
Down for hoodie -- I will inform the rest of brooklyn da pig is in da houze
I would gladly pay for the items and the shipping costs if there is a way, anyway, to send a shirt to Hank Paulson and Ben Bernanke. Somebody must have some "connections" that could produce a real address destination?
This sucks!
I loved Tanta's posts!
I am so sorry to see her go.
At least she got to have some fun and see her Mortgage Pig wear coming out.
JJL: You could send it to their offices. Send a note that says: "If you love your country, you will have a photograph taken of yourself in the mortgage pig shirt and release it to the media."
I charged one on my card
joe shmoe,
I found this great great set of troll comments from a while go in the comments today. HaloScan.com - Comments I dont know how the guy did it but he was able to post all that stuff so quick and as I remember from different IP addresses. Tanta thought it was a kid running around a frat some where.
....
JJL Fedex/UPS overnight is always a good way to get this stuff thru the staff lines.. if you gotta send to the office- i recommend gift wrap in paulson's original 3-page proposal..
treasury:
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220
General Information: (202) 622-2000
Fed:
202 452-3693
Mailing addresses: Federal Reserve BoardDivision of Consumer and Community Affairs 20th Street and Constitution Avenue, NW
Washington, DC 20551
text for gift wrap:
The economic propsosal - Politico Staff - POLITICO.com
NOW can people stop responding to this jerk? He poisons every thread he touches.
CR Companion
I've only got one person in the bozo-filter.
Nades: Thanks for the suggestion but in a fit of pique one day I cut up all my credit cards. I now deal in cash, money orders & checks.
A Tanta quote from the thread linked above responding to mp. Out of context here, yet weirdly appropriate.
So, yes. I want flowers. And righteous ass-kicking. Whatever world in which those two things are mutually exclusive is not the world I'm fighting for.
I have read and learned a great deal over the years from both Noam Chomsky and Ralph Nader. Whatever their flaws, they are extraordinary public intellectuals. I am incredibly flattered to be mentioned in the same sentence therewith.
And talk about a couple of dudes who could use some flowers. Holy shit.
Tanta | 04.03.07 - 7:42 pm | #
CDS - What about pig gift wrap? That would be fun!
Our household is watching Santa Claus is Coming to Town right now, and Santa's adoptive aunt is Tanta Kringle.
Does the Tanta's Mortgage Pig TM Full Zip Sport Tek Sweatshirt only come in men's sizes?
Outsider, good point. Whilst I head for the D train, visions of pig portage bags dancing in my head:
Manhattan Portage Bags - Original New York Messenger Bags (since 1983)
you know, an iron on/sew on patch would work nicely in that lower right space...
Bonus feature: Just noticed that the holiday pig seems to be holding onto a ballerina's barre...practicing for the nutcracker, no doubt
It's so cute how Jas seems to think that he has the monopoly on understanding what is going on in our society and that the rest of us are beneath him because we so obviously don't. I'm so disappointed to know that I must be a Dope in his eyes because I believe that that we are better off that the Civil War was not won by the States' Rights crowd, and that by purchasing a piece of clothing we are remembering Tanta and her contributions and supporting causes that were dear to her.
/VENT
Nades: Thanks for the suggestion but in a fit of pique one day I cut up all my credit cards. I now deal in cash, money orders & checks.
Paradigm Lost
You can link a checking account with Paypal. Takes a couple of days for the confirmation process but doable;)
I think everyone at The Fed and Treasury should buy one with TARP funds!
Also see: Auditors recommended that Treasury work with government bank regulators to determine whether the activities of financial institutions that receive the money are meeting their purpose.
In a response to the GAO, Neel Kashkari, who heads the department's Office of Financial Stability, said the agency was developing its own compliance program and indicated that it disagreed with the need to work with regulators.
"The GAO's discouraging report makes clear that the Treasury Department's implementation of the (rescue plan) is insufficiently transparent and is not accountable to American taxpayers," said House Speaker Nancy Pelosi, D-Calif.
CDS - I had issues w/ pay pal too but it was on my end. Got it resolved.
Also love your handle - I assume it is your initials (yes?) but very appropriate for this forum...
CDS = 'Credit Default Swaps' very much the in thing today.
Tanta was a gas btw. We will miss her A LOT. Don't be a stranger to this place. You are family here now too.
Peace.
"3. Jas, shut the hell up."
I wholeheartedly second the motion.
I go to Springboro regularly and used to live there, my kids still do, where exactly is Image Markit, I would love to stop in and buy directly when I am there again?
maybe im a fool
i just thought jas jain was trying to be funny...really
cause you know we are "all' born and bred fools... in his book
and so by connection he was saying everyone should have a Tanta pig shirt
sorry ahead of time if im wrong, but...
ades
thanks for the link
yeah both CRs and Tantas page are new additions..were not there, (i checked) on sunday
I now have a E bay account, and a sleeveless ( shows off the prison tats ), bulletproof ( Saturday nites are rough ) XL tee.
Somebody must have some "connections" that could produce a real address destination?
Piece of cake. The tough part is getting 'ol Hank to open it himself.
I will have it appear as if it was sent from another family member of his, so he is more likely to open it up personally, only to find that the Shnapster has been 'in his ekonomie, spendin' his stimuliz chekk.'
I'm sure in time, it'll become his favorite guano "tarp" for when he goes birding.
I'd love to buy some of these Tees, but I won't use PayPal. For that matter, I'm not particularly thrilled about eBay either.
If I can't do a simple credit card transaction - and PayPal DOES NOT offer such a possibility - then no sale.
Soon, we'll all be Mortgage Pigs (tm). The mp household is currently in contention over who gets what.
We are, in that respect, typical Americans.
More kind words-these from Baltimore City Paper:
Baltimore City Paper: Crash Course: RIP Tanta
Can someone identify all the guys on image 2?
I don't get far beyond Bernanke.
I've always wanted to be part of a secret society!
I can imagine traveling in some far off location in the world and seeing someone wearing one of these. I think we'll need a secret handshake.
--
Please don't get me wrong, Tanta had great communications skills to communicate to dopes and that is what is required to succeed as a reporter in Dopeland. Both CR and Tanta are/were very good reporters. Everything is consistent. CR is among the better economists but that aint saying much for a profession that should be shameful for participating in propaganda of gangsters.
Dopes need to get in touch with their born-and-bred dopiness that is extremely difficult to shed. No need for denials. Gangsters who rule America count on born-and-bred dopes for support and defense of the system that gives them the powers. Gangistan and Dopeland are codependents.
Tanta did her job well and CR is doing even better job. I respect both for their skills and high level of intelligence displayed.
I am not trying to win any popularity contest. Dopes like to be liked; I dont care. I say what I observe and conclude.
Jas
"I think we'll need a secret handshake."
Now, that's a genuine hoot.
What sort of secret handshake do you suggest?
And I don't really get the convexity one either. Explain to the dope, I beg of you.
yeah...i took jas' post as weird humour too.
If I see anyone wearing one of these in public, I promise to shake your hand and thank you.
Nades: whoa that was maniacal
"00 million Americans are FEASTING on porridge which is JUST RIGHT while bears tremble in their caves gnawing on Billys frozen burritos."
The scary thing is that this person might have been in my house! How did they know I bought a box of frozen burritos in 2007?
mp writes: What sort of secret handshake do you suggest?
Similar to this one, but a little more complicated, natch.
I took Jas's last post as really tedious. There was a bad children's book happening in it, somewhere.
mp writes: What sort of secret handshake do you suggest?
another suggestion
YouTube - Free masons
12th Percentile writes:
"I think we'll need a secret handshake."
WASPN. "We're all..."
Comrade Bear writes:
And I don't really get the convexity one either. Explain to the dope, I beg of you.
Explained by Tanta herself 1/29/08, complete with the original artwork
Options Theory and Mortgage Pricing
Calculated Risk: Options Theory and Mortgage Pricing
Pig Snorts could work well especially in germophobic environments.
Tanta referred to our resident troll as he who must not be named.
For the love of Tanta, do not engage he who must not be named.
I know firsthand, I engaged he who must not be named on a dull weekend thread and was chastised severely by Tanta.
DO NOT ENGAGE HE WHO MUST NOT BE NAMED!
I'd love one that says:
TANTA VIVE!
I'm pretty sure that the presence of such a classy pig on my sweatshirt will make the women at the gym line up to meet me. My wife will be pissed.
Thanks for the link, Rainy
Do the T-Shirts come in Conjure's size? Shopping for that little guy must be a beast. And holiday time, I can't imagine.
This could get to be a regular cult following. And you know what that means. Conventions.
Warning: If I ever see a mortgage pig, I'm hugging. So be forewarned.
I hear an echo in here. Anyone still here?
Can we get these personalized? I want "Outsider" on mine somewhere.
Would someone point me to a post that elucidates the origin of the now famed porcine mascot? I can surmise that it derives from the "lipstick on a pig" epithet, but I'm sure the birth of this association is far more entertaining.
CR, please keep the link up somewhere, as time moves on. Presently I'm one of the recessed - as in, a number in the U6 statistic - and when time and budget permit, will want to see if items are still available.
Will there be a secondary market for these items? A craigslist for mortgage pigs? Hmmmm...
Thanks.
i want to get Slap it, but don't recognize the guys besides BB and Paulson. where is sheila?
hey, i'm not sure i understand it. i want it, but want to be ready before somebody (husband) asks for explanations.
As one would imagine, the CR crew is off and running on the pig-wear. 90 orders in 90 minutes - a lot of them multiple items.
Apologies to anyone who had trouble and is frustrated.
For those of you without paypal we will attempt to take checks - keep in mind it will slow the process down for you. If you EMAIL rwstick@yahoo.com (my husband) with your request (CHECK ORDER in subject line, please) we'll go from there.
I really want one, but I'm afraid I will get really sad whenever I see/wear it.
6 months ago I would have ordered one in a heartbeat.
Maybe I should just make a donation to one of her charities.
julia writes:
i want to get Slap it, but don't recognize the guys besides BB and Paulson.
It was an emergency meeting of the Federal Reserve.
Per Tanta:
Tanta writes:
It scares me that I spent time trying to figure out which cartoon represents which governor.
I will ignore the implied slur on my artistic talents.
Back row L-R: Bernanke, Poole, Kohn
Front row L-R: Warsh, Pig, Kroszner
Nobody knows where Mishkin was. Then again, we didn't look under the Pig.
Tanta | Homepage | 01.22.08 - 3:07 pm | #
HaloScan.com - Comments
thanks RainyDay! "Slap it" is as meaningful as I imagined!
I'll wear my convexity hoodie around Philly with pride.
Oh please, oh please, could you make a Mortgage Pig baseball cap (pig with lipstick for the women) with the words "Tanta Vive" underneath the pig? This has become my rallying call to get me through the tears and the sorrow of her passing.
I only posted once a long time ago to one of Tanta's missives that had me on the floor laughing. Soon the tears will dry but the laughter and the pig remain. Tanta Vive!
I love the idea of a coffee mug! Would buy instantly!
CDS sorry but you must have known what product demands you were in for when you posted - uno mas then I will shut up:
Bunny Slippers (or Pig slippers).
http://shopping.netsuite.com/s.nl;jsessionid=0a01074d1f43fc33519b4f8343f68483b7167002775c.e3eTaxaQbxmTe34Pa38Ta38Nahr0?c=402720&sc=13
Sport Tec Unisex sizing
CDS-- I'll have to get re-registered with e-bay in order to get mine. My account got hacked and subsequently suspended last spring.
I'd like to second the call for a mortgage pig mug. You can get them easily made up at CafePress: Custom & funny t-shirts plus unique gifts I've had a couple done for a small-scale charity and they're quite nice quality. They also handle all the shipping and orders themselves, so no extra burden on your son.
I'd also like to second Dryfly's request that you not be a stranger. And to thank you once again for giving us Tanta's picture-- and the chance to share our feelings of loss.
CDS - just looked at the t-shirts on ebay, and noticed a typo. Your description on the t-shirts describes the front:
Front Chest with "To Big to Slap"
which should be:
Front Chest with "Too Big to Slap"
From all of Tanta's writing that I read, I don't imagine her tossing out typos on purpose. (Don't know if she would find one funny or not)
Anyhow, hopefully it's correct on the actual shirts.
Best wishes to you & your family - we all miss Tanta.
FDIC purportedly looking at 4 potential bank closings next friday but will probably close only 2 then. Numerous job postings for Irvine are now on the fdic.gov career site.
Exit | Homepage | 12.02.08 - 11:08 pm | #
You have lots of company in the U-6 ranks, and the second derivative for it is spooky...that is, not only is the rate going up, it is going up faster (for the majority who are not math nerds). Got a post up if you care to see...and FWIW, I think we will see additional acceleration in the first quarter before the acceleration tops out (the absolute rate is unlikely to top out until well after the recession ends, it was two years after the 2001 recession ended).
Take care of yourself and those you love, I hope your situation improves soon.
A very nice thing to do. I will participate.
Almost forgot - if anyone is interested, I linked to our farm blog on the homepage spot. Lots of critter pics this time of year, since it's slow, but poke around for garden/building stuff, or check out the eat local links on the side to find good food in your area...
Sorry, I'm stupid, but it's not clear to me how to order. Also I'd really really prefer a mug!!
Fair Economist, that was the article. Much thanks
Jas,
Whats matter honey? Remind you of uniforms and your days as a young lad in the locker room?
Don't let it scar you. We all love you.
C'mere. I wanna give you a fully clothed hug.
Gloomboom,
Why not buy one t-shirt for every spam message you have left in the comments? Sort of a pay-per-click system...
A Mortgage Pig coffee mug with a picture of Tanta, a "We're All Subprime Now" inscription (I like 'WASPN') and a CR headline - will get me thru the credit collapse.
FFDIC,
Any of those banks happen to be located in Ohio? Or rhyme with "Worst Dead Spinachial Corpse"?
Inquiring minds wanna know ...
FFDIC, thanks for the headsup! long overdue for the move west from GA.
.
citizen energyecon writes:
(the absolute rate is unlikely to top out until well after the recession ends, it was two years after the 2001 recession ended).
Did the 2001 recession really end? Or did we just go straight into the housing/credit bubble? I read somewhere that if you merely subtract MEW, the GDP growth for the period is or closely approaches zero.
Back on the farming thing...in the olden days, most folks raised a pig or 2 in their back gardens. They were called "the gentlemen who paid the rent".
At butchering time, people would keep back enough pork to last the year, and sell the rest to the butcher, who then resold it as bacon, ham & sausage.
The proceeds were generally enough to allow the cottager to pay his/her annual rent, and the pigs were cheaply fed from household waste, culled produce, windfall apples, etc.
It's kinda funny to have a Mortgage Pig available now. Maybe the proceeds will help pay the charities' rent....
LA Condo market in shambles:
Los Angeles Business Journal Online - business news and information for Los Angeles California
http://www.downtownnews.com/articles/2008/12/08/news/12-08-08-news02.txt
http://www.downtownnews.com/articles/2008/12/08/news/12-08-08-news01.txt
bobn,
point well taken - simply using the MBER dates...
doh! NBER dates lol
Laid off factory workers take control of factory...
Idled workers occupy factory in Chicago - Chicago Tribune
CHICAGO - Workers laid off from their jobs at a Chicago factory have occupied the building and are demanding assurances they'll get severance and vacation pay that they say they are owed.
About 200 employees of Republic Windows and Doors began staging the sit-in in shifts Friday, the last scheduled day of the plant's operation.
Leah Fried, an organizer with the United Electrical Workers, said the Chicago-based vinyl window manufacturer failed to give 60 days' notice required by law before shutting down. Workers were angered when company officials didn't show up for a meeting Friday that had been arranged by Chicago Democrat U.S. Rep Luis Gutierrez, she said.
During the peaceful takeover, workers have been shoveling snow and cleaning the building, Fried said.
"Did the 2001 recession really end? Or did we just go straight into the housing/credit bubble?"
I think of the housing bubble as the terminal phase of a decades old ill-conceived fed-sponsored credit bubble.
On top of a mountain of debt. Way up high and a long way down. Wherever you go, there you are.
Obama unveils plan to save 2.5 million jobs. Meanwhile the other 200 Million jobs wait nervously
Hi CR -- thanks for fixing the link in your posting -- now it is direct to the eBay site, so we don't have to click around.
What you need to do NOW (please) is fix the link in the sidebar under Tanta's photo so it goes direct to the eBay site. That would probably boost sales somewhat.
Got mine!
God bless you & Tanta.
Cheers
KCS
I think what we need is some Frontier Psychiatry.
YouTube - The Avalanches - Frontier Psychiatrist (Good Quality)
OT
Saturday, December 6, 2008
Ukranian hookers
Initial installment of IMF loan : 4.5 billion
Amount spent on 'currency trading' : 3.4 billion
Blackrock getting paid 12 million a year to help 'folks' profit on these 'currency trades'? : absolutely priceless
04.12.2008 11:42
unian.net
repost fom WSJ
Ukraines currency spiraled to a new low Wednesday as data showed the countrys population ditching the hryvnia in favor of the dollar faster than ever.
The former Soviet republic is entering a full-blown economic and financial crisis as global demand for steel, its main export, collapses, while Russia continues to threaten it with an ever-higher bill for its gas imports. Confidence in the politically divided government`s crisis plan, which is backed by a $16.5 billion loan from the International Monetary Fund, is fading.
November data released by the National Bank of Ukraine showed it had already hemorrhaged almost 80% of the first part of the emergency IMF loan within a month of receiving it. The National Bank`s gross foreign reserves rose by only $820 million in the month to $32.74 billion, despite its receiving $4.5 billion from the IMF through a hastily arranged stand-by arrangement.
The central bank also said it spent $3.4 billion in foreign-exchange interventions in the course of the month to prop up the currency.
I ordered more items than I need, but I really really really would love a mug!
I've taken pictures during my first week back in Corporate America. Here are some photos of my dutiful colleagues.
YouTube - Devo Corporate Anthem
Interesting looking at the rate of change in the CHGDEL data from the Fed - measure of charge off and delinquency rates for all banks. The rate of increase had been accelerating until 3Q2008, which is as recent as the data gets. Small downturn in the rate of acceleration 3Q2008, will be interesting to see if CRE hitting the wall re-accelerates or their is something larger going on...
Data source;
https://www.federalreserve.gov/releases/chargeoff/
comrade swan - as I said the eastern eurpoean counties will be the first to blow up...lotsa borrowing in the euro and USD and BP...now have to pay back the loans..
I love the mortgage pig. I used to be one!
CDS writes
that's a terrible handle in this group...
jus sayin, that's Tanta's sister, and those are her initials.
I knew you'd want to know that.
While the country slides into a deep, long recession, health care and health insurance costs are skyrocketing. Medicaid is crippling state govt. finances and virtually assuring defaults on their debts.
Millions of laid-off workers will go uninsured because they can't afford even the group rates of COBRA, let alone the higher rates for individual coverage. This will further tax hospitals and Medicaid systems. And of course, Medicare is a fiscal disaster in the making.
The biggest impediment to getting companies to rehire laid off employees will be health insurance.
It would not shock me if Obama moves straight and quickly to a national single-payer health insurance system. I'm not even sure there would be much opposition in this climate. It might be the best, boldest step to putting America back on its feet again.
The big losers would be insurance and pharmaceutical companies. Maybe some doctors.
The big winners would be everybody else. It would probably be the most efficient fiscal stimulus available.
Good graph showing world unemployment in lockstep with ours. World wide depression. Globalization rocks.
A rising tide floats all boats. Funny.
- NY Times
y , i figured. But i'm not sure if T's sis know's what CDS is. If she knew it's vile nature, i'm sure she'd change it.
The health insurers are way ahead of us in spinning national health care.
Bush/Cheney sat down with the oil companies to come up with our national energy plan. Let us hope Obama doesn't do the same with the health insurers.
Insurers Group Proposes Universal Health Care - WSJ.com
I just ordered a sweatshirt. At no point anywhere in the process was there a way to specify size. Very bad structure. I hope I will be able to wear the sweatshirt I just bought.
Rich:
I totally agree with your take on the medical situation. A single payer system, though, would be a disaster. Medicare reimbursements vary widely by specialty, so we could have severe shortages in some specialties. And if services became "free" the system would be flooded with pent up demand. Deductibles keep a lot of little problems out of the system.
Rich @ 3:04
Agreed! The biggest issue is weaning the system off of anachronistic employer based plans - which shift costs to individual plans - and have a more uniform system. I'm not in favor of single payer (i.e. government) but beneficiaries of employer plans are the source of huge inefficiencies (over utilization of services for trivial procedures) at the expense of self employed.
And beneficiaries of employer plans hide behind insurance rhetoric that everyone is paying the same rates, which from anecdotal experience I believe is nonsense. Would enjoy seeing the data on this point.
awalane...
Size ordering instructions are buried in the ordering instructions. You specify size in the PayPal instructions.
I just ordered the Henry Paulson Doll...but they appear to be out of the matching Pig Pins. Any idea when they'll be getting those in?
I'm 56. If I had 'free' healthcare insurance I think I might quit work.
Don't know how many others there are like me who would retire save for the not insignificant problem of having to pay for your own health coverage until age 65 but I suspect that it is not an insignificant number.
Then there would a somwhat larger number of people would retire at age 62 except for that same problem.
Over in the UK, those who can afford to, opt out of the NHS. Same for many Canadians. Must be something about government provided healthcare that turns people off if they have an alternative.
rich | 12.06.08: Whenever the government gets involved, taxpayer always loses, if you ask me. (With progressive taxation, some more than others, unfortunately.)
I just started reading:Economics in One Lesson and brings home the hidden cost of government "help."
So much for "no taxation without representation"....
Right now we have the worst of both worlds.
We are paying through the nose, and we have less favorable outcomes in mortality and morbidity.
awelane- "I just ordered a sweatshirt. At no point anywhere in the process was there a way to specify size."
You're supposed to specify the size in the memo field on the payment thingy. Send CDS an email, she'll sort it out.
Dr. Munch, the state of our healthcare is so much more complex than that. We treat symptoms rather than creating and fostering Wellness. Our society, our consumeristic culture and sendentary lifestyle, our exploitative market that rewards poor health choices, have all contributed to an epidemic of ill-health, both physically and mentally. In fact, I'd say the patient, meaning us, metaphorically, is pretty much dead. Like Terri Schiavo, we are being kept alive for use as batteries to power the machines...or Machine.
Over in the UK, those who can afford to fly first class opt out of coach. Must be something about coach that turns people off if they have an alternative.
@lawyerliz
A few days ago you were asking why Conjure's depression clock started at 1 minute to midnight, as opposed to 15 minutes before. I responded by saying that all the slack had gone out of the system.
I highly recommend you view Nassim Taleb's most recent interview with Charlie Rose. He explains why this downturn will be far faster.
He is actually more bearish than Roubini. He says so.
Perfect, Anonymous. What the Unit doesn't realize is, he's not part of the Club...meaning the Oligarchs would just assume shit on him than call him one of their own.
Morocco Bama | Homepage | 12.06.08 - 3:23 pm | #
Excellent points. Finding a way to reward good health would drastically cut health costs long term.
mp: The Congress seems to be on track to approve a package for Detroit as early on Monday. What does it mean for the D-Clock (if anything)?
Until a few weeks ago, over the UK if you wanted herceptin, avastin or some other 'expensive' drug and the NHS didn't think it 'appropriate' in your case you were SOL.
If you went to the private sector to get it you lost your NHS coverage.
It was in for a penny in for a pound and if it cost you your life well that was just too bad. Don't think for a minute that, were we to have an NHS the same problems would crop up.
You think your doctors are no good so you go and see a private physician and you get booted out of the whole system.
"Governor Arnold Schwarzenegger warned that he may issue the warrants, which are a promise to pay with interest, to suppliers and contractors as the seizure in credit markets may make it too costly to borrow."
Uh oh. When warrants are soon printed in other deficit states and then accepted for payment or sold at a large discount, you have currency debasement and rampaging inflation hiding in plain sight. As personal income declines and more people rely on their warrants the discount increases.
Cash buyers then demand higher values, and presto, a 2-tier currency black market in the IOUSA.
And all started by an Austrian governor (von Mises rolls over).
Can I haz a shirt for one of these??
Hyperinflation forces Zimbabwe to print $200 million notes - CNN.com
Rich, you have some excellent insights and a great Macro vision. Your outlook parallels mine with amazing consistency.
Anyway -- here is another investing idea for the board.
****Investment Idea Alert*************
One of my good friends is in the consignment business (everything: cars, boats, machinery, industrial equipment). Apparently, business is booming and his company is having a hard time keeping up with demand. Construction firms, government agencies, manufacturing companies, are all struggling to raise cash and are dumping assets at HUGE discounts. So they sign them over to consignment firms to auction off. So I asked him what items in particular they are seeing a lot of / seeing discounted heavily.
He said the largest dumping has been in construction/infrastructure equipment. Bobcats, excavators, backhoe's, etc. They are seeing tons of Caterpillar and Deere units that are relatively new, in good running condition, hitting auction. These are units that 6 months ago would have gotten 20k (at auction) and now are selling for 13k.
Anyway, when the consignment business is booming and prices are dropping like crazy, it makes sense that the OEMs are going to be absolutely crushed. CAT and DE will be hammered. I know they're off of their peaks by 50%+ already, but the pain is just starting.
Plus they have been selling lots of expensive equipment to projects like the Oil sands, which are now going to be going on hold and cutting back on capital purchases.
And I'm going to say that emerging market demand will be terrible for 2 reasons. 1) They are worse off than the US for a number of reasons, and 2) Even the markets that are resilient are GOING TO CONSIGNMENT COMPANIES, where they can get the stuff at a fraction of the prices. My friend says they are shipping a lot of the units overseas.
Gonna Start loading up on CAT/DE puts.
Okay, that is my idea for the day. Feel free to throw some rocks at it. Love to get some feedback. Use at your own risk....
Pete Wilson issued scrip back in 91 or 92 which is where Arnie got the idea from.
The warrants Arnie is being forced to consider will carry a 5% interest rate
which isn't bad these days but the thing is California voters, in their 'wisdom', decided to put school funding AHEAD of bonded indebtedness in the payment rankings. Not sure if I would accept Ca. IOUs under those circumstances.
Unit472 writes:
"Don't know how many others there are like me who would retire save for the not insignificant problem of having to pay for your own health coverage until age 65 but I suspect that it is not an insignificant number."
Once you leave corporate life you begin dodging labels like "semi-retired". Health care costs is one of many incentives that keep you in opportunistic mode. Too young to "retire", too experienced to take orders from some know-it-all gen Xer.
I have begun to notice a two tier health problem. The sample group is about 4,000 people. The average age is in the boomer range.
1st Tier
Not well paid by DC standards. Usually ethnic an overweight. They, despite having access to health care, sometimes do not have it. More problems because they are not taking meds for diabetes, asthma, blood pressure, plus they are getting stressed.
2nd Tier
Well paid by US standards. Educated, majority is white. Have health care. They are having increasing problems with anxiety attacks, minor strokes, ulcers, heart attacks. They are as stressed as the others.
Kellogg's is coming out with a new breakfast cereal exclusively for Bankers called TARP. Each production run will have the face of a prominent member on the front of the box. The honors for the first production run go to Paulson.
The cereal will be fortified with 8 essential toxic assets, including MBS and CDS, accounting for 100% of a Bankers daily allowance.
Morocco Bama writes:
"... we are being kept alive for use as batteries to power the machines...or Machine."
You should have taken the blue pill.
Thanks.
I'll check it out mp. No time at the moment. It's hard to imagine someone more bearish than Roubini.
I wonder what Taleb has his money in.
I wonder what Taleb has his money in.
lawyerliz | 12.06.08 - 3:40 pm |
He is making 50% return on it last I read.
I just came back from Kmart. No lines, no customers for this time of year. Slower than a usual Sat. Call me cynical but I am getting hit up a lot at the register for a donation to St. Jude. Ya think kmart is sitting on the money, taking the interest, before they turn it over?
That's bizarre that Mugabe would name the new $200M Note, The Cholera.
Shouldn't real estate people have their own breakfast cereal too?
Sawdust,sheetrock and bits of granite for the essential minerals. Toll Brothers could use their unsold houses as raw material for the cereal.
Good luck dude...
Wearing 'almost homeless' sign, ex-executive seeks work - CNN.com
Sign-wearing former executive seeks work
Paul Nawrocki says he's beyond the point where he cares about humiliation. That's why he weekly takes a 90-minute train ride to New York, where he walks the streets wearing a sandwich board. "Almost homeless," reads the sign. "Looking for employment. Very experienced operations and administration manager.
You should have taken the blue pill.
No pills for me....I just yanked the feeding tube out of the back of my neck....but damn...it's cold out here.
MrM- "What does it mean for the D-Clock (if anything)?"
MrM, I can't speak for Conjure. He will call it as he see it when it's announced.
ova | 12.06.08 - 3:39 pm
I don't think that was intended as humorous, but I did LOL. Yes, we're all stressed out.
Health care reform in the U.S. would be a great accomplishment, but some very large money will line up against it.
llawyerliz-here's repost of Taleb:
Eric(Unrated) writes:DAMN YOU, WINDOZE CUT AND PASTE....
If anyone hasn't seen this yet, check out the Taleb interview on Charlie Rose:
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the best part is at 15:15 and following....hearing Rose slam his hands on the desk and the shot with his mouth gaping open are classic.
Eric | 12.05.08 - 12:54 pm | #
It is entertaining.
I went to two malls today. The first one had a Dillard's last Christmas but it is closed now. Went to another mall which has a Macy's still open.
Selected some sweaters and stuff and went to pay for them but the line was
so long. Guess they aren't hiring any extra help for the holiday season.
Didn't seem real Christmassy at either. Few decorations, shabby displays etc.
Rich:
spouse does hospice/palliative care and they're managing to hold off 15% medicare cuts through Specter sponsored legislation.
She foresees single payer system coming, a la Medicare expansion, instead of government run medical service.
Think that the shakeout would affect physicians mostly in the specialty ranks that have lots of "procedures" that provide great cash flow.
There might also be a welcome return of docs to primary care and general internal medicine, which are sucking wind trying to get docs.
Gavshire, as to your point, I think that ALL manufacturing is going to suck for a while, regardless of who it is. For that matter, what about US Steel?
I'm spending this weekend looking at how to handle the possible "end game" of all of this.
In spite of all its faults, a nationalized system that beats private insurance, hands down---processing costs.
IIRC, SS has a processing cost in the single digits. Private insurance companies' profit + expenses generally run approximately 30%.
Now that is a heck of a lot of room!!!
ova said: "... I am getting hit up a lot at the register for a donation to St. Jude."
It's interesting to note that St. Jude is the Patron Saint of lost causes.
It makes one wonder....
mp: Fair enough. Please give my regards to Conjure.
It's interesting to note that St. Jude is the Patron Saint of lost causes.
It makes one wonder....
Comrade Terry
Very funny when you think about it.
What happened to Misean?
My Way
so Obama is going home for xmas. And stayin in kailua. Let me make one suggestion to anyone of his team that happens to puruse here.
Obama, remember when you were a kid , and palyed inthe sand at the beach. the flecks were golden white and baige.
Now there white baige green red, black purple orange. You name it, it's there.
In 25 years, the platics of the world are showing up as ground up bits on one of the finest stretches of sand in the world. Something must be done.
Can these be financed zero-down neg-am?
Look it, private health insurance has a 30+ waste rate. You all argue that the govt. is impersonal and could a d*m about your unique situation. One solution is possibly using single payer plan as a floor with those that want to pay additionally for a private coverage on top of the govt. coverage be allowed to do so, if they want to do so... Somehow some way, economically and from a trade standpoint, we must go to a single payer plan and take this weight off of our companies...We need to level the playing field...
Is this reasonable?
I'm for doing anything that eliminates a system based on employer plans. The illiquidity in labor markets it creates simply from the friction in changing or discontinuing employment needs to be eliminated. Not to mention the burden on employers. This system is 60 years old, it arose under very different circumstances (war time economy, low health care costs) and it has outlived its usefulness.
Gonna Start loading up on CAT/DE puts.
Okay, that is my idea for the day. Feel free to throw some rocks at it. Love to get some feedback. Use at your own risk....
Gavshire Hathaway | 12.06.08 - 3:35 pm | #
If you are talking $13K equipment - it's the small stuff used by 'contractors' - if we have an infrastructure boom - the BIG stuff will sell lights out.
That stuff retails for $100K to $250K - hell the engines alone go for $10K-20K. You don't have to sell a too many of those to make up for the small stuff (skid steers & backhoes). Deere & especially Cat make way more from those than the little stuff.
You might want to do some due dilly before backing up the truck & shorting HEAVY machinery makers - especially until you know what Pres O's stimulus looks like.
She foresees single payer system coming, a la Medicare expansion, instead of government run medical service. HD
I agree - think of it as a national network of regional 'health care utilities'- privately owned & operated but heavily regulated and subsidized.
BTW - to get back on topic - I've ordered a couple polo's and a convexity hoodie - can't wait!
Might have to start having pictures taken of me in them in silly places & send to CR... Source of the Mississippi, Carhenge, Mitchell Corn Palace, Rushmore... WALL DRUG! Tee hee - challenge the rest of you to beat some of those.
dryfly, a picture in front of Lefty's Liquors would be priceless.
tranches of loss(Unrated) writes:
dryfly, a picture in front of Lefty's Liquors would be priceless.
tranches of loss | 12.06.08 - 4:59 pm | #
Oh my - a very good idea.
where is wall drug?
Ok, ok I'll look at it now.
The trouble with buying clothing at the moment is that I have (as a result of this tragedy) brought forward the start date of my almost-annual New Year's Resolution to lose some weight. (In fact, I confess, not "some"; a LOT of weight.)
Not least for the impact it would have on my moderate (not QUITE enough for my doc. to put me on medication) hypertension. Why have a risk factor which can be eliminated with a bit of discipline, thinks ozajh to himself; other people (as we have sadly just seen) get hammered by factors which they CAN'T eliminate.
So; if I can stick with this plan any clothing that fits me now will look ridiculous in the not-too-distant future. (I'll keep the blog informed, since any success can be directly attributed to T's memory.)
Hopefully the merchandise will stay available even if sales show a (quite likely) 'single surge' pattern.
Oh, and add my voice to the chorus requesting a coffee mug.
I love the mortgage pig!!
May I add my plea for a coffee mug, mouse pad, ball cap (pig on the front, "in memory of Tanta" on the back?)
Thank you!
I am so sorry for the loss of your sister, for the loss to Tanta's immediate significant others.
I am involved in ovarian cancer diagnostic research. It is VERY hard to obtain biological samples from those diagnosed with ovarian cancer (who haven't already started receiving anti-cancer therapeutics which alters the samples). But due to the realities of OC it sometimes pains me to work with the samples I DO have because as I thaw one out for an experiment, I can be reasonably certain that the person who provided it is likely now dead or soon to be dead due to the poor prognosis.
Ovarian cancer diagnostics does appear to be at the cusp of a real takeoff. I know of several labs at my academic institution that are now including OC diagnosis into their research and development work and of others around the country (USA) also in the field.
This particular cancer is so difficult. No clear symptoms, no clear (thus far) biological markers that something isn't right. Quite often, by the time a woman learns that she has OC, it is too late because it has had ample opportunity to metastisize out of control - so by the time it is caught, it is because of side-effects of the metastasis. Few are the "lucky" who have their OC discovered, almost by accident, early enough to truly deal with it.
Best wishes.
Can someone say something about Mortgage Pig on Tanta's Wikipedia page?
Here it is
Doris Dungey - Wikipedia, the free encyclopedia
JP - we will post the pig.