I was up in New York for New Year's. Drove up from New Jersey, saw the NJ port full of brand new cars, sitting there. Wondered how long they had been unloaded, just sitting there.
Nato warning for Russia over 'political' gas crisis
Rory Watson in Brussels and David Charter in Prague
Frantic efforts to restore gas supplies to millions of European comsumers failed today after Russia flatly refused to turn the pipeline back on.
A European Union plan to send monitors to both countries, agreed in principle by Moscow and Kiev as a way of breaking the deadlock between them, faltered at the 11th hour when Russia demanded that its own inspectors should be sent into Ukraine alongside independent experts.
The row has has left 12 countries without any deliveries in freezing temperatures and seen hundreds of schools and factories closed to conserve fuel. Hundreds of thousands of people across the Balkans, the worst-affected region, found themselves without heating and some hospitals were forced to close in Serbia as the thermometer dipped below minus 10 degrees Celsius.
A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on. "There is a commercial dispute at the heart of this, but this also has political overtones - we have seen Russia over time using such events to gain political leverage," said US Ambassador to Nato Kurt Volker. Nato warning for Russia over 'political' gas crisis - Times Online
This is a disgrace. Got to love erin burnett championing cram downs saying it helps housing. Does she get that cramdowns merely help escalate the price down? CNBC is a total and complete joke. So now we have fed controlling interest rates, the congress mandating 5 year plans and judges arbitrating real estate values. The US is a disgrace.
Gazprom says unclear when gas talks will resume
Thu Jan 8, 2009 12:54pm EST
MOSCOW, Jan 8 (Reuters) - A delegation from Russia's Gazprom (GAZP.MM) is flying back to Moscow from Brussels and does not know when talks with Ukraine over their gas dispute will resume, Gazprom's deputy chief executive Alexander Medvedev said.
Medvedev told Reuters on Thursday talks on a multi-lateral monitoring system to ensure smooth gas transit collapsed on Thursday because Ukraine did not accept Russian proposals and Gazprom could not accept those of Kiev.
He said Ukraine had first refused to sign a protocol prepared by Gazprom and then Gazprom refused to sign a protocol proposed by Ukraine because Russian specialists or observers from European gas firms were not included among the monitors. Gazprom says unclear when gas talks will resume
| Reuters
Consumer borrowing plunges by $7.94 billion in November, record amount in dollar terms
Martin Crutsinger, AP Economics Writer
Thursday January 8, 2009, 3:06 pm EST
Yahoo! Buzz Print WASHINGTON (AP) -- Consumers cut back on their borrowing by a record amount in dollar terms in November, another sign of trouble for the rapidly weakening economy.
The Federal Reserve says borrowing on credit cards, and for such things as auto loans, dropped at an annual rate of $7.94 billion in November, the biggest decline in 65 years of record keeping. Yahoo! 404 - Page Not Found
A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on. citizen energyecon | Homepage | 01.08.09 - 3:25 pm | #
The Obama spin team is picking up where Clinton left off. Wonder boy is in the dark room creating worthless headlines everyday to feed the market insatiable need for something that distracts from reality.
I sense the Ruissians are itching for a fight. Envision the rage of having the ruble tanked and your reserves inflated away in the name of saving you and the world. The US is very generous with other people's money.
S(Unrated) writes: \tThis is a disgrace. Got to love erin burnett championing cram downs saying it helps housing. Does she get that cramdowns merely help escalate the price down? ... S | 01.08.09 - 3:26 pm | #
A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on. "There is a commercial dispute at the heart of this, but this also has political overtones - we have seen Russia over time using such events to gain political leverage," said US Ambassador to Nato Kurt Volker.
Could some one please muzzle this guy before he starts a war.
What is NATO going to do? Absent the US, the member nations generally can't agree on any meaningful actions that involve actually responding to external pressures. Yugoslavia fell apart on Europe's back door and Pres. Clinton had to bring the US to shoulder the burden of bringing a resolution to the Serbian issue. I think NATO should be abolished as a Cold War relic and some new multilateral security structure should be set up.
"Consumers cut back on their borrowing by a record amount in dollar terms in November"...that is a good thing, when we've been living beyond our means.
s. If cram downs were allowed for residential as they are for CRE and if credit card debt could be treated as it was before BKR "reform" we would not be in such deep shit.Lending standards would not have been all but eliminated.
Popeye writes:
Anonymous... ah yes.... if you don't care what intellegent people think.... then, what does that make you ???
Popeye | 01.08.09 - 3:39 pm | #
Is this cramdown the plan the Jubilee to which some of you have been referring? What is to keep a new buyer from saying to themselves: "I'll go lever up right now, then default. The government will wipe way the debt I can't pay and I get to keep an asset I otherwise couldn't afford?"
Why Citigroup "Backs" Home Loan Bankruptcy Plan - CNBC
Citi accepts cram downs as needed now in BK court. Ouch things must be bad out there. Side note to this what effect will this have on contract law that a judge can alter a binding contract without nullifiny the contract.
[So now we have fed controlling interest rates, the congress mandating 5 year plans and judges arbitrating real estate values. The US is a disgrace.]
Command economy. At the helm: BHO, Barney Frank & Nancy Pelosi. If I were a creditor nation with a boatload of Treasuries I would have a pretty itchy sell-button finger.
What is to keep a new buyer from saying to themselves: "I'll go lever up right now, then default. The government will wipe way the debt I can't pay and I get to keep an asset I otherwise couldn't afford?"
RockyR | 01.08.09 - 3:46 pm | #
The risk, rather high in the case you outline, that the bankruptcy judge won't choose to cram down the loan. If there's any evidence the borrower had any intention of defaulting he'll be SOL.
S writes:
"Wonder boy is in the dark room creating worthless headlines everyday to feed the market insatiable need for something that distracts from reality."
3:29 pm
"wonder boy" you say! that tells us all here a lot about you and your political predelictions...
that and the absence of any cogent argument against obamas economic proposals
how bout if you attack his ideas rather than character attacks
if obama kept his cabinet picks and policy inclinations secret until the last minute... you would fault him
he is way ahead of the curve established by past presidents trying to arrive jan 20 already, full speed ahead, and you fault him
and when he puts more information before the american people about proposals regarding how their tax dollars are spent, im sure you will carp
from obamas speech today and the Headlines" you decry
" Instead of politicians doling out money behind a veil of secrecy, decisions about where we invest will be made transparently, and informed by independent experts wherever possible. Every American will be able to hold Washington accountable for these decisions by going online to see how and where their tax dollars are being spent. And as I announced yesterday, we will launch an unprecedented effort to eliminate unwise and unnecessary spending that has never been more unaffordable for our nation and our childrens future than it is right now."
Side note to this what effect will this have on contract law that a judge can alter a binding contract without nullifiny the contract.
Robert | Homepage | 01.08.09 - 3:48 pm | #
No effect whatsoever. Cramdowns are already standard procedure on other forms of secured debt, and before 16 or so years ago they were standard on residential first mortgages as well.
What seems odd to me is that Citi is even a negotiating partner here. Congress can't pass regulatory legislation without the express agreement of the businesses being regulated? There was a time when that would have raised some eyebrows.
is their anyway you can ban popeye..
my first request ever to do so..
he's belittles others, takes up disc space and belong in outer space...
You seem like a small man popeye..do you drive a hummer and then step down to look up at people....open a hedge fund so we don't have to read your drivel....
"What happens when the jobs numbers come out tomorrow?"
Like I posted on a now-defunct thread (I guess I needs me some CRC):
12/5/08 (last jobs report day) featured a hideous report that precipitated an up outside day. 60 point intraday range on the SPX. Nearly a 12% rally off the intraday low on 12/5 to the intraday high on 12/8.
So... an even more hideous report tomorrow = ?? Based on today's less than enthusiastic attempt to burrow through the 900 floor, I could see a quick dip at open followed by a moonshot. Or a quick dip at the open followed by a complete nose dive. That said, I made my bets today on an up day tomorrow.
NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. We dont expect a significant increase in traffic at the ports until retail sales return to normal levels, and even then retailers will be careful not to over-stock.
By this he means, until we return to the bubble economy with people living on bubble-inflated HELOCs? And just how well did that work out the last time around?
If you watch the video of the five living presidents in the oval office yesterday, closely, you will see Bill kicking something under the desk.
ChangeYourDogCanRollIn
While some of us indulge in occasional trading chatter here, this is manifestly not a trading blog. I appreciate PCA's forthrightness and discretion with the brevity of the occasional TA discussion.
Mindless trader chestbeating should be taken elsewhere. Try Denninger's Market Ticker, though users should be forewarned that is Karl's house...
In Greece, the official reports are that they have four weeks of supply of gas. I do not know if I trust them, but to my knowledge no one here is without gas. This should be a large issue in this part of the world: seismic zone and all, who wants all that gas pouring in after an earthquake?; political uncertainties, who wants to be held hostage to geopolitical issues with Russia?
As per discussion of Miami Dade Statute a day or 2 ago, it is completely unclear to me whether the Building & Zoning codes to be adhered to is current code or the code that the property is grandfathered in to.
Also, it applies to condos.
So, what if the condo was NEVER to code; the common elements, not just the appt. Is the whole condo going to have to bring it to code???
Prolly the inspector will just look at the individual appartment, but suppose there is something really glaring.
My cynical secy & one client hypothesized that somebody would give somebody money and the problem would go away. Not that that ever happens.
I said maybe in the case of an individual lender, but a bank can't be involved in that kind of stuff without getting into trouble.
Apparel quotas ended for China Dec 31-according to the rumors I heard this week 60,000 containers of clothes from China are on their way just this week. Full employment on the docks for two or three weeks end of jan. first of feb.
What's the matter...all imported cheap goods and no one to buy them because all of their jobs were exported to make the goods cheaper? I wonder which genius Standford MBA thought of that stupid idea?
Somali Pirates concur! Will apply for TARP funding.
hello
I was up in New York for New Year's. Drove up from New Jersey, saw the NJ port full of brand new cars, sitting there. Wondered how long they had been unloaded, just sitting there.
for all you options junkies:
"From 2:48PM EST - 3:11PM EST, OPRA had hardware problems -- they appear to be coming back online now"
More BS from the gov't with this Citi news. Citi wants cramdowns now because taxpayers are backstopping the losses.
Nato warning for Russia over 'political' gas crisis
Rory Watson in Brussels and David Charter in Prague
Frantic efforts to restore gas supplies to millions of European comsumers failed today after Russia flatly refused to turn the pipeline back on.
A European Union plan to send monitors to both countries, agreed in principle by Moscow and Kiev as a way of breaking the deadlock between them, faltered at the 11th hour when Russia demanded that its own inspectors should be sent into Ukraine alongside independent experts.
The row has has left 12 countries without any deliveries in freezing temperatures and seen hundreds of schools and factories closed to conserve fuel. Hundreds of thousands of people across the Balkans, the worst-affected region, found themselves without heating and some hospitals were forced to close in Serbia as the thermometer dipped below minus 10 degrees Celsius.
A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on. "There is a commercial dispute at the heart of this, but this also has political overtones - we have seen Russia over time using such events to gain political leverage," said US Ambassador to Nato Kurt Volker.
Nato warning for Russia over 'political' gas crisis - Times Online
This is a disgrace. Got to love erin burnett championing cram downs saying it helps housing. Does she get that cramdowns merely help escalate the price down? CNBC is a total and complete joke. So now we have fed controlling interest rates, the congress mandating 5 year plans and judges arbitrating real estate values. The US is a disgrace.
We are an international disgrace.
Gazprom says unclear when gas talks will resume
Thu Jan 8, 2009 12:54pm EST
MOSCOW, Jan 8 (Reuters) - A delegation from Russia's Gazprom (GAZP.MM) is flying back to Moscow from Brussels and does not know when talks with Ukraine over their gas dispute will resume, Gazprom's deputy chief executive Alexander Medvedev said.
Medvedev told Reuters on Thursday talks on a multi-lateral monitoring system to ensure smooth gas transit collapsed on Thursday because Ukraine did not accept Russian proposals and Gazprom could not accept those of Kiev.
He said Ukraine had first refused to sign a protocol prepared by Gazprom and then Gazprom refused to sign a protocol proposed by Ukraine because Russian specialists or observers from European gas firms were not included among the monitors.
Gazprom says unclear when gas talks will resume
| Reuters
Consumer borrowing plunges by $7.94 billion in November, record amount in dollar terms
Martin Crutsinger, AP Economics Writer
Thursday January 8, 2009, 3:06 pm EST
Yahoo! Buzz Print WASHINGTON (AP) -- Consumers cut back on their borrowing by a record amount in dollar terms in November, another sign of trouble for the rapidly weakening economy.
The Federal Reserve says borrowing on credit cards, and for such things as auto loans, dropped at an annual rate of $7.94 billion in November, the biggest decline in 65 years of record keeping.
Yahoo! 404 - Page Not Found
A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on.
citizen energyecon | Homepage | 01.08.09 - 3:25 pm | #
Intervene and do what?
The Obama spin team is picking up where Clinton left off. Wonder boy is in the dark room creating worthless headlines everyday to feed the market insatiable need for something that distracts from reality.
Intervene and do what?
Comrade Terry
I sense the Ruissians are itching for a fight. Envision the rage of having the ruble tanked and your reserves inflated away in the name of saving you and the world. The US is very generous with other people's money.
I have called a short term bottom. I stand by it. I drop my flag.
Port traffic is down!
You could knock me over with a feather !
That bubble curve graph seems to show up everywhere lately, doesn't it?
Housing Prices, Stock market DJIA, Oil, Rents, CRE, etc.
That bubble curve graph seems to show up everywhere lately, doesn't it?
~~~~
No correlation there. Just a coincidence ...
S(Unrated) writes:
\tThis is a disgrace. Got to love erin burnett championing cram downs saying it helps housing. Does she get that cramdowns merely help escalate the price down?
...
S | 01.08.09 - 3:26 pm | #
Isn't price discovery a good thing?
A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on. "There is a commercial dispute at the heart of this, but this also has political overtones - we have seen Russia over time using such events to gain political leverage," said US Ambassador to Nato Kurt Volker.
Could some one please muzzle this guy before he starts a war.
Sebastian has a website.
http://goodnewseconomist.com/
Obama wants Fed to support muni market
3...2...
Countdown to Mish's "fiv" award.
Could some one please muzzle this guy before he starts a war.
Ticker Tape of Doom
~~~~~
We need more wars, we don't have enough enemies ... we need to spend more borrowed money ... get with the program !
I drop my flag
I drop my flag
If Popeye drops his flag in a forest and nobody cares...
Anonymous... ah yes.... if you don't care what intellegent people think.... then, what does that make you ???
What is NATO going to do? Absent the US, the member nations generally can't agree on any meaningful actions that involve actually responding to external pressures. Yugoslavia fell apart on Europe's back door and Pres. Clinton had to bring the US to shoulder the burden of bringing a resolution to the Serbian issue. I think NATO should be abolished as a Cold War relic and some new multilateral security structure should be set up.
yaw
"Consumers cut back on their borrowing by a record amount in dollar terms in November"...that is a good thing, when we've been living beyond our means.
Citi never sleeps...
Citigroup has agreed to a plan that would let bankruptcy judges alter mortgages in an effort to prevent more housing foreclosures.
Citigroup Agrees to Adjust Mortgages in Bankruptcy - CNBC
The so-called "cramdown" proposal has been backed by Democrats over the past year as a potential solution to the foreclosure crisis...
s. If cram downs were allowed for residential as they are for CRE and if credit card debt could be treated as it was before BKR "reform" we would not be in such deep shit.Lending standards would not have been all but eliminated.
when gavshire says this is a short term bottom then i go long and only the
Popeye writes:
Anonymous... ah yes.... if you don't care what intellegent people think.... then, what does that make you ???
Popeye | 01.08.09 - 3:39 pm | #
Your thesis assumes a fact not in evidence.
Anonymous writes:
when gavshire says this is a short term bottom then i go long and only then
I have called short term bottom; bet against me at your peril.
I believe the market is on 'inauguration lockdow
popeye haven't you always been a contrarian indicator?
how short are we talking... til 3:55pm?
what was nov 21?
Is this cramdown the plan the Jubilee to which some of you have been referring? What is to keep a new buyer from saying to themselves: "I'll go lever up right now, then default. The government will wipe way the debt I can't pay and I get to keep an asset I otherwise couldn't afford?"
rockets engaged.... TO INFINITY, AND BEYOND!!
eric
cool the engines
Why Citigroup "Backs" Home Loan Bankruptcy Plan - CNBC
Citi accepts cram downs as needed now in BK court. Ouch things must be bad out there. Side note to this what effect will this have on contract law that a judge can alter a binding contract without nullifiny the contract.
Anonymous writes:
popeye haven't you always been a contrarian indicator?
Curiously, I live well... and just imagine... I live on what I trade.
If you are smarter than I am, all you have to do is to take my money away.
Some folks are smarter than I am.... I accept that as a fact.
Your thesis assumes a fact not in evidence.
Gary | 01.08.09 - 3:44 pm | #
Awfully generous for Citi to get behing cramdowns now that it's the taxpayer who will actually be paying for them.
Side note to this what effect will this have on contract law that a judge can alter a binding contract without nullifiny the contract.
It's pretty much accepted that Article I judges have the ability to modify the substantive terms of contracts under Congress's Bankruptcy Powers.
Citigroup’s Phibro Hires Second Tanker to Store Crude Oil - Bloomberg.com
Wanna bet it's empty?
"Import frenzy sullied by collapse of HELOC mania". . . or something like that.
[So now we have fed controlling interest rates, the congress mandating 5 year plans and judges arbitrating real estate values. The US is a disgrace.]
Command economy. At the helm: BHO, Barney Frank & Nancy Pelosi. If I were a creditor nation with a boatload of Treasuries I would have a pretty itchy sell-button finger.
Speculators or Investors?
In todays climate, when it comes to real estate, they are all speculators.
[Eric writes:
for all you options junkies]
I was wondering why my options panels were frozen. Didn't matter because the markets weren't open yet anyhow.
I have bet a serious amout of money - excuse me - a sincerely serious amount of money - on what ?
What is the question here ?
In my very humble opinion, the question is.... can the wealthy afford much worse ?
Stupid people ask different questions. Smart folks are not kids in college.
Call your own bet.
in a world awash with $ & $ instruments what are our "friends" going to do with them?
I've never been as OT as Popeye today.
OT - Good call on the s.t. bottom, Popeye.
Everyone positioned for un-enjoyment?!
What happens when the jobs numbers come out tomorrow?
ostalgia for the 9 handle lost
Dear Self-Persucuted,
You, nevertheless, hold my respect.
Comrade Terry | 01.08.09 - 3:51 pm | #
I'm glad someone enjoyed that.
I have hestitated to use cr companion but I see with popeyes endless stream of blather I will have too...
give pops his can of spinach
What is to keep a new buyer from saying to themselves: "I'll go lever up right now, then default. The government will wipe way the debt I can't pay and I get to keep an asset I otherwise couldn't afford?"
RockyR | 01.08.09 - 3:46 pm | #
The risk, rather high in the case you outline, that the bankruptcy judge won't choose to cram down the loan. If there's any evidence the borrower had any intention of defaulting he'll be SOL.
Wish We had Tanta to explain just what the friggers are actually up to.
From no more than what I know about chapter 13 BK, it perpetual pergertory for anybody that has a job.
Have seen paychecks that actually went into minus, after all BK payments came out.
Citi has picked up on what our goverment is telling us, we are here to help you. Right.
S writes:
"Wonder boy is in the dark room creating worthless headlines everyday to feed the market insatiable need for something that distracts from reality."
3:29 pm
"wonder boy" you say! that tells us all here a lot about you and your political predelictions...
that and the absence of any cogent argument against obamas economic proposals
how bout if you attack his ideas rather than character attacks
if obama kept his cabinet picks and policy inclinations secret until the last minute... you would fault him
he is way ahead of the curve established by past presidents trying to arrive jan 20 already, full speed ahead, and you fault him
and when he puts more information before the american people about proposals regarding how their tax dollars are spent, im sure you will carp
from obamas speech today and the Headlines" you decry
" Instead of politicians doling out money behind a veil of secrecy, decisions about where we invest will be made transparently, and informed by independent experts wherever possible. Every American will be able to hold Washington accountable for these decisions by going online to see how and where their tax dollars are being spent. And as I announced yesterday, we will launch an unprecedented effort to eliminate unwise and unnecessary spending that has never been more unaffordable for our nation and our childrens future than it is right now."
AP'Sahdows,
In my heart, I know you are right.
What is to keep a new buyer from saying to themselves: "I'll go lever up right now, then default.
Cramdowns will be limited to people who bought before 9/2008 - something like that.
Popeye, I'll take the other side of the bet.
S&P 500 = 810 or below on inauguration day. 1-20-09
Side note to this what effect will this have on contract law that a judge can alter a binding contract without nullifiny the contract.
Robert | Homepage | 01.08.09 - 3:48 pm | #
No effect whatsoever. Cramdowns are already standard procedure on other forms of secured debt, and before 16 or so years ago they were standard on residential first mortgages as well.
amazing that govt. lets unregulated hedge funds tap tarp....
SEC re-opens probe into Samberg's Pequot
SEC re-opens probe of Samberg's Pequot Capital - MarketWatch
[Everyone positioned for un-enjoyment?!
Eric ]
Took a strangle on the SPX, anticipating a move. Got lucky positioning taking the calls early with the SPX down & the puts later in the green.
Now all I need is a lively Friday.
What seems odd to me is that Citi is even a negotiating partner here. Congress can't pass regulatory legislation without the express agreement of the businesses being regulated? There was a time when that would have raised some eyebrows.
With all the spiffy news, how could the Dow NOT go green?
Hey, Popeye... ya dropped yer flag.
Bluto writes:
Popeye, I'll take the other side of the bet.
S&P 500 = 810 or below on inauguration day. 1-20-09
Hey dumbchit... how long did you expect me to get drinks for free ? Counter balance me if you can - truth is my friend.
"A senior US diplomat warned that Nato might have to intervene to help alliance members such as Bulgaria and Romania if the crisis drags on."
NATO troops could be invited by Ukraine to turn the valves on the Russian pipeline. Eh?
"What seems odd to me is that Citi is even a negotiating partner here."
My thoughts, too! Who the hell is running the country?
Well, dumb question, I suppose.
Wally,
Were I to call flags end today, I'd just take profits - I'm not a nice guy..
Curbed excerpts GS report on Manhappenin' real estate.
Curbed NY: We Read Goldman Sachs' Mind-Numbing NYC Real Estate Report So You Don't Have To (Kill Yourself)
CR,
is their anyway you can ban popeye..
my first request ever to do so..
he's belittles others, takes up disc space and belong in outer space...
You seem like a small man popeye..do you drive a hummer and then step down to look up at people....open a hedge fund so we don't have to read your drivel....
"What happens when the jobs numbers come out tomorrow?"
Like I posted on a now-defunct thread (I guess I needs me some CRC):
12/5/08 (last jobs report day) featured a hideous report that precipitated an up outside day. 60 point intraday range on the SPX. Nearly a 12% rally off the intraday low on 12/5 to the intraday high on 12/8.
So... an even more hideous report tomorrow = ?? Based on today's less than enthusiastic attempt to burrow through the 900 floor, I could see a quick dip at open followed by a moonshot. Or a quick dip at the open followed by a complete nose dive. That said, I made my bets today on an up day tomorrow.
I don't live in economic isolation. I have called a bottom. I stand by it.
Bet your butt or eat spinach.
We need more wars, we don't have enough enemies ... we need to spend more borrowed money ... get with the program !
mmckinl | 01.08.09 - 3:36 pm | #
haha
- i know it is almost like it is scripted to be this way.
I didnt see it but I was told:
If you watch the video of the five living presidents in the oval office yesterday, closely, you will see Bill kicking something under the desk.
NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. We dont expect a significant increase in traffic at the ports until retail sales return to normal levels, and even then retailers will be careful not to over-stock.
By this he means, until we return to the bubble economy with people living on bubble-inflated HELOCs? And just how well did that work out the last time around?
If you watch the video of the five living presidents in the oval office yesterday, closely, you will see Bill kicking something under the desk.
ChangeYourDogCanRollIn
It was Osama bin Laden...
Rhodesian--saw the same thing in storage area in Balto, posted several days ago.
While some of us indulge in occasional trading chatter here, this is manifestly not a trading blog. I appreciate PCA's forthrightness and discretion with the brevity of the occasional TA discussion.
Mindless trader chestbeating should be taken elsewhere. Try Denninger's Market Ticker, though users should be forewarned that is Karl's house...
Unfortunately, I think port traffic works both ways, so this will keep our current account deficit as a % of GDP the same.
Discussing the Fundamental Price of Money. — Notes on Credit Spreads
S&P 500 = 810 or below on inauguration day. 1-20-09
Bluto
That's my bet also. A stupid amount of money. really , really stupid.
Re: citizen energyecon
In Greece, the official reports are that they have four weeks of supply of gas. I do not know if I trust them, but to my knowledge no one here is without gas. This should be a large issue in this part of the world: seismic zone and all, who wants all that gas pouring in after an earthquake?; political uncertainties, who wants to be held hostage to geopolitical issues with Russia?
As per discussion of Miami Dade Statute a day or 2 ago, it is completely unclear to me whether the Building & Zoning codes to be adhered to is current code or the code that the property is grandfathered in to.
Also, it applies to condos.
So, what if the condo was NEVER to code; the common elements, not just the appt. Is the whole condo going to have to bring it to code???
Prolly the inspector will just look at the individual appartment, but suppose there is something really glaring.
My cynical secy & one client hypothesized that somebody would give somebody money and the problem would go away. Not that that ever happens.
I said maybe in the case of an individual lender, but a bank can't be involved in that kind of stuff without getting into trouble.
Apparel quotas ended for China Dec 31-according to the rumors I heard this week 60,000 containers of clothes from China are on their way just this week. Full employment on the docks for two or three weeks end of jan. first of feb.
Yet again 2009 will = 2002. Amazing how often that simple rule works.
Just came back from the basement. My port is fine.
Can you say "shortages" boys and girls? I knew you could.
What's the matter...all imported cheap goods and no one to buy them because all of their jobs were exported to make the goods cheaper? I wonder which genius Standford MBA thought of that stupid idea?
Port of Los Angeles December container report tonight. Adds umpteenth data point exclaimation point.