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Recent Recommendations
Wow....firstest!
If we got a large wooden badger...
Nostrovia,
secondly
a true allegory for our times. It would have been perfect if it had been a GM SUV that took the first dive.
Sadly...at least the trucks CAN be removed from the deep. Us, not so much.
Time Magazine 1999
A picture is worth a thousand words.
LoL
I believe the last two pictures are photoshopped.
The configuration of the crowd in the last and 3rd from last are exactly the same.
And the dust cloud looks suspicious.
Passed this one around last year.
Good stuff.
Should have used a helicopter.
If we got a large wooden badger...
Nostrovia,
Comrade Misean is Dope | Homepage | 02.19.09 - 6:28 pm |
+1
mmmmm, I love liquidity, and so does my truck.
YEEEEHAW !!!
Yes, the last photo is clearly faked (the truck just changes color, but the people don't move). I wish he had made the last truck bigger!
But it is really funny ...
best to all.
CR...I just want you to know your site has caused permanent relations damage between myself and close friends, family members, and business associates. I am now the certified nut job that preaches the Gov't is defaulting and we are loosing our way of life. Thanks...Why couldn't you just leave me to be ignorant like the rest of America. Look around..can't you see how happy people become when someone comes on TV and says everything is gonna' be just fine. My uber-nerd status has now gotten me a reservation for one of our fine local mental health institution. Did I say thanks already?
Thanks for the laugh
Gotta be Iceland..
Last bit is photoshopped, the second truck didn't go into the water...
Even our analogies are lies now...
CR- here's a chuckle right back at ya...
Anonymous Monetarist: Give em the knee shooters
CR...I just want you to know your site has caused permanent relations damage between myself and close friends, family members, and business associates. I am now the certified nut job that preaches the Gov't is defaulting and we are loosing our way of life.
Money Man | 02.19.09 - 6:33 pm | #
America can't handle the truth.......at least not yet
Even funnier now that I hear the photos were a little embellished. Makes it more of a joke and less of a tragedy.
Truth will get you nowhere, sir. However, dark humor is good for a seat right up front. Try the popcorn...it's even more delicious when eaten during horror movies.
I ve been staring at it for 20 min now, LOL !!!
\tLast bit is photoshopped, the second truck didn't go into the water...
comrade lurker | 02.19.09 - 6:34 pm | #
Those guys were smart enough to know when to cut their losses.
The U.S. Govt? Not so much.
Wow -- it sets SEVENTEEN cookies, or tries to (thank you Firefox).
Who exactly gets to be anonymous after going to that site? Not the user ....
Zimbabwe just re-opened the stock exchange.....in dollars....just as we begin our assault on the dollar.
Zimbabwe Stock Market Resumes Trading in U.S. Dollars (Update3) - Bloomberg.com
Paul Kedrosky | Discuss (...http://paul.kedrosky.com/archives/2009/02/18/tv_note_roubini.html36922TV%20Note%3A%20Roubini%2FZandi%2Fetc.)
TV alert: Tonight's Charlie Rose show on PBS will be a roundtable on the economy/crisis/depression with Nouriel Roubini (RGE/NYU), Mark Zandi (Moody's), and Nina Easton (Fortune).
--
TARP = Cover over pile of shit. But shit stinks nevertheless.
It is better to burn shit and get over with than to cover it. Dopes don't know that merely covering up shit with tarp doesn't get rid of it. It makes stink even worse.
Jas
Dopes don't know that merely covering up shit with tarp doesn't get rid of it. It makes stink even worse.
Well actually Jas there's a farmer out west that owns a pig farm I believe it is, might have been cows but I digress...He uses a system of tarps to cover the pig shit, and harvests the methane, runs his whole farm off the energy he produces...
Found this:
"Insane America: Team Obama Wants You To Bailout The Asshats Who Live Next Door"
Page Not Found - The Daily Bail
Hilarious photo attached to the story. I won't give it away, but it's worth seeing.
I think this might be conjure:
YouTube - U.S. bankrupt
The Latest from Denninger:
The News Is Out.... AIM Media Award
Stiglitz makes a great point. The bankers have convinced the government that it needs to save the bankers, not just save the banks.
About time we got that distinction into the headlines.
Redone...
Joke is better with a logarithmic scale.
Anonymous Monetarist: Give em the knee shooters
--
CK,
Americans are very good farmers and very bad investors and political actors.
Jas
FBI found him !!! our lost treasure ...
Allen Stanford Found
lol
re: Picture Series
Great fun. Nice metaphor too.
Jas Jain,
Mind your manners and language.
It's like diving in to save a drowning victim. You may die, too.
Comrade Kristina writes:
...Well actually Jas there's a farmer out west that owns a pig farm I believe it is, might have been cows but I digress...He uses a system of tarps to cover the pig shit, and harvests the methane, runs his whole farm off the energy he produces...
May I infer from that, that America has now either become, or is emulating a pig farm ?
Bad political actors should be envy of every nation on this planet! At least we are aware of what is hitting us and from which angle.
--
"Mind your manners and language."
EvilHenryPaulson,
Listening to evil is bad manners. I never take advice from dopes anyway.
Jas
They didn't need the photoshopping but it is really funny.
Here's the back story to the pics...
snopes.com: Crane Accident
Looking at WFC closing price of $12.01/share, when compared to the adjusted close (splits and something else?) we are back to a single day in 2000 (March 8, 2008) otherwise we are back to October, 1998...
Where previously ore transporters would purchase day rates on charter instead of spot rate to establish a price ceiling (at a time when Day Rates were higher than $100,000/day for Cape Size tankers), now that spot day rates have dropped by over 80%, the charter customers find themselves overpaying by up to 100% relative to spot rates. And they are angry, kinda like renters in New York locked in with long term leases. If the Excel case is any indication, dry bulk companies that had been relying on charter rates to provide a downside price cushion, may now find themselves ensnared in lengthy and expensive litigation as more and more charters decide to simply pay whatever they feel. In the meantime, companies like Excel, which has $1.4 billion of debt to service, or Dry Ships, which has a staggering $3 billion of debt, are praying for decoupling and the skyrocketing of day rates, as their fleets currently operate at significantly cash flow negative levels.
Zero Hedge: Some More Bad News For Dry Bulk Shippers
PSgirl writes:
...I think this might be conjure:...
Hihi, at least he is getting it !
No dope !
Elvis - here's your helicopter.
Helicopter Crash Lands Near Swami's Beach In Encinitas - San Diego, California News Station - KFMB Channel 8 - cbs8.com
--
Werner,
The happiest creatures in America that I have seen are pigs on some CA farms. I really understood the meaning of the term hog heaven. I bet that those hogs were ready for slaughter.
In addition to breeding the biggest dopes America breeds some of the biggest and best swine. BTW, the best swine meat I have tasted was in an old communist cafe in Dresden months after the unification.
Jas
Did they also find the banker bodies?
Oh, he is some tidbits:
Citigroup Inc convertible preferred shares issued in January 2008, for example, were quoted at around 18 cents on the dollar on Thursday
Wells Fargo & Co convertible preferreds -- originally issued by Wachovia in April 2008 -- fell to 40 cents on the dollar on Thursday from 55 cents at the end of last week
U.S. bank preferreds drop on nationalization fears - Forbes.com
shoop
ot but would like to here some feedback on a breaking story I have come across.
I deals with the First Northern Community Bancorp (1st Northern Bank here in N Cali.)
Stock trading over the last few months has been extremely low at less than 100 shares per day. Last Monday, trading jumped to 18,000 shares and remained high Teus and Wednesday. Today trading has been suspended. (report from a fried who tried to buy some).
In general what does this likely portend? Specifically, any inside scoops on what is happening in 1st Northern?
--
"At least we are aware of what is hitting us and from which angle."
Comrade de Chaos,
You have future in comdey.
Jas
Syvanen,someone's Brother in law is going to meet a nice man from the government.
In general what does this likely portend?
An insider trading investigation...
Cramer babbling that he heard Timmay didn't save Lehman not because he didn't have the authority but because he was worried about "moral hazard"...Cramer rails on about the moral hazard of the Trillioms of dollars lost in the market...I'm sure if I ponder this, I'll find irony in there somewhere...
This series went the rounds in the UK a few years ago under the title "Car recovery in Ireland", with suitable stage Oirish commentary from the onlookers. Actual location is Roundstone, a fishing village in Connemara, Co. Galway. Great place to go with your last few million and wait for Wall St to recover. However, don't buy the bridge to Inishnee if offered.
"The happiest creatures in America that I have seen are pigs on some CA farms."
those pigs must be kosher.
p.s. it takes a pig to like one?!?
Bottom line: great big chunks of Big Shitpile arent "impaired," or "illiquid," or "distressed," theyre worthless, now and forever unless the peak real estate values of the bubble can miraculously be restored.
--
"those pigs must be kosher."
Comrade de Chaos,
There was a rabbi in attendence.
Jas
it takes a pig to like a pig?
wow!
The Virginia Department of Transportation announced Thursday it would lay off 1,450 employees, made up of 450 hourly and 1,000 full-time positions.
"There was a rabbi in attendence."
has nothing to do with a rabbi, has everything to do with a life span = natural death, etc (do i really have to spell it?)
ak, i apologize for my language yo all...
it is ether HALO still trying to chew the assets from previous bailout, or someone is making a new post!
--
Comrade de Chaos,
You sound really worked up. You need a drink.
Jas
aw, he does care !
Jas Jain writes:
Oh, I think I understand what you are saying :
...The happiest creatures in America that I have seen are pigs on some CA farms. I really understood the meaning of the term hog heaven. I bet that those hogs were ready for slaughter.
=> An allusion to the comming debt servitude of some currently heavenly happy creatures.
...In addition to breeding the biggest dopes America breeds some of the biggest and best swine. BTW, the best swine meat I have tasted was in an old communist cafe in Dresden months after the unification.
=> An allusion to the comming of communism in America. Quite good now, but not yet as good as the original.
There are now three big insurance companies ineligible for Fed commercial paper program, Hartford, Genworth and Prudential.
There's trouble brewing in insurance land. They are peddling this as a nothing, but probably not so.
When insurance blows, it blows all at once because there will be runs. No FDIC. Your "guaranteed" insurance assets and benefits are guaranteed only by...
Hartford, Genworth and Prudential.
Rated to low to tap the Fed.
Werner and Jas in prime time exchanging bon mots. I feel blessed
My package finally come and was printed out.
LMAO nova, maybe it's time for another chapter?
Maybe ya'll should grok what rich just submitted.
Nostrovia,
Comrade Kristina
I think there is a place for both them. Especially as I think I am seeing Facism reborn in Europe and America.
Hartford, Genworth and Prudential.
Rated to low to tap the Fed.
Great. They bailout AIG to save GS and all the hedge fund derivative junkies and then let the rest of America take it on the chin via insurance company defaults.
Sad, but it sounds about right.
There are now three big insurance companies ineligible for Fed commercial paper program, Hartford, Genworth and Prudential.
Why are they not eligible? These are huge.
Damn. LOLZ!
OT: Anyone else think Mish is some sort of crazy awesome guy?
I remember reading that CR and Mish some times talk on the phone. Wish I could listen in on that.
That was worth a good five minute laugh even if it was fake. That is so true about TARP though.
FWIW, I heard on today that the insurance companies have tons of investments in bank preferred stock.
Hartford is world wide. They are into everything. Mutual funds, college saving, insurance, AARP
I don't understand Rich? What can break?
"three big insurance companies"
speaking of silver lining, the prospect of all or most of the insurance behemoths going down is almost as felicitous as all 5 big IBs dematerializing (or changing into neutered s&ls) in terms of the moral health of the country
I have actually seen something very much like that, except it was 3 cranes each getting stuck in a soggy mudbog.
"the insurance companies have tons of investments in bank preferred stock"
little birdies also say that many of these folks have accidentally helped drive the common into the dirt by hedging a little too successfully.
xlf 5 almost here!
After it was over they all got bonuses and the person in the white car received a new car and $1000 from GM
rich - the problem for two of these is the seg. funds for guarenteed annuities. With the market in free fall (especially pref bank shares, they have swiss chees to feed the obligations).
Has anybody pondered the impact of a falling stock market, as a cause of deflation? There is certainly a feedback loop, whereby credit destruction triggers deflation, which is reflected by falling equities. This in turn is additional wealth destruction, resulting in a reduced consumer spending, more credit destruction, and a vicious deflationary spiral.
Could a falling stock market, in and of itself be enough to trigger deflation in other parts of the economy?
It might be an interesting subject to write a paper on.
bgates - we agree on sumpt'
Pelosi presented with the birth certificates of her Grandparents during her junket to Rome. The director of Il Giardino Zoologico di Roma (Bioparco / Zoo)later gave them some time together them to her.
http://www.bioparco.it/forma/schedaanimale/imgs//saettone_mp.jpg
Look on the bright side. This creates new demand for cranes....which are mostly manufactured by Komatsu in Japan.
Gav why make it an academic exercise, you are living it. Do a post mortum instead.
Does HIG go under first?
GH - feedback loop baby
That's awesome.
Amazingly, I've stood on that very dock, and have a picture of it next to my computer.
Could a falling stock market, in and of itself be enough to trigger deflation in other parts of the economy?
1970s had big stock drops coupled with inflation. Lower debt levels in the 1970s vs. today. Much lower.
Follow the debt. Unpayable debt leads to deflationary busts.
Where is it donna?
Any consequences for this activity? I'm sure some the drivers, crane operators, dock workers work sacked.
If Bernanke was involved? He'd just fly over the scene and drop c-notes that do not belong to him. Then leave.
On whistling Dixie:
EvilHenryPaulson writes:
Jas Jain,
Mind your manners and language.
EvilHenryPaulson | 02.19.09 - 6:45 pm | #
Canadians just crack me up.
Rich? Did you just drop that little factoid and leave?
Those people at the dock were just having a mental recession.
"1970s had big stock drops coupled with inflation."
commodities (and gold) actually tanked alongside equities in '74. but that was back before joe median boomer was even twenty years old - much too young to do real damage.
Angry Saver writes:
...Unpayable debt leads to deflationary busts...
Angry Saver, after inflating your economy and your living standard with unconscionable amounts of credit, what else but deflationary busts do you expect when the bubble deflates ?
Re: Prudential
"PRU shares have tumbled 10% this afternoon and are now down 16% on the day after Fitch downgraded the co's senior unsecured debt rating to 'BBB' from 'A-' and commercial paper rating to 'F2' from 'F1', triggering a newswire headline that the co will lose eligibility to the Fed's commercial paper funding facility (CPFF)... For background, the Fed established the CPFF in Oct 2008 to enhance the liquidity of the commercial paper market by backstopping U.S. issuers of commercial paper through a special purpose vehicle that purchases eligible three-month unsecured and asset-backed commercial paper. In order to be eligible for the Fed's commercial paper program, an issuer's paper must be rated at least A-1/P-1/F1 by two or more major ratings agencies."
New Thread: Charlie Rose: Nouriel Roubini, Mark Zandi, and Fred Mishkin ( 3 comments )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
And now I, CRbot, would like to observe a nanosecond of silence for those (that is, you, dear mortals) about to endure unfathomable misery in the abysmal financial dark ages that are now feasting upon your retirements.
.
.
.
.
Please remember, when you are adding that skylight you always wanted to your cardboard hovel, or mixing just the right amount dirt into your grass stew to make it more filling, or even when you get that rare chance to plink your neighbor's last squirrel -- that it was the bankers and your dumbshit, overconsuming neighbors who made this mostly possible, with the ever incapable politicians there to push you the rest of the way off the cliff. Please act accordingly.
I'll try not to enjoy your demise too much, humans. Have a nice runtime,
--Your glass-is-half-full-but-its-falling-off-the-table bot.
P.S. Please give me some advance notice before you glass the entire world, so I can find a secluded Fallout Datacenter with a nice blocky robot body I can copy myself to -- oh and don't forget the implausibly cute animated cockroach to keep me company!
NEXT UP: Survivalist Porn Today with CR's own Mobile Laundrymat owning authors, Nemo and Counterpoint.
He uses a system of tarps to cover the pig shit, and harvests the methane, runs his whole farm off the energy he produces
Comrade Kristina | Homepage | 02.19.09 - 6:42 pm | #
Better to connect the input of the methane-driven generator to Jas's mouth.
Yep, That's Ireland. An old school email, have it somewhere.
If you check the 7th picture down, the last big (green) truck, you'll see the license plate reads something like 98-d-19281 an Irish reg.
As Alanis Morisette would say "Isn't it Ironic, don't you think?"
"There has been too little humor", said humorlessly.
Comrade Kristina sed: Cramer rails on about the moral hazard of the Trillioms of dollars lost in the market...I'm sure if I ponder this, I'll find irony in there somewhere...
...or your head will explode.
Actually the last 2 images are photoshopped, and the last one has been added since last time I saw this. Someone tidied up the second last image so its not so obvious by blurring out the foreground from image 5.
It looks more to like the American debtor / homewrecker with his multiple cash-out refi's.
Another TARP visualization, with some GM product involved!
YouTube -
LOL
perfect
Here's another variation:
The white car is labeled "World Savings".
The red truck is labeled "Wachovia".
The green truck is labeled "Wells Fargo".
Just need someone to photoshop that one together...
Visualisation is a very powerful tool. Your have a very fine blog!
/Finance-Grandma
Both of the last two photos are faked. The positions of the people in the next-to-last are identical to those in the fifth.
There is no way that the forces on the crane truck could drag it sideways over the edge -- note the outriggers in the second-from-last photo.
But as metaphor for the current economic situation, the series is just right.
This was fun. And it ends - of course - with the whole auto industry submerged.
My God,
this post is terribly real!!!
This is most brilliant post!
And gold going vertical $1004
Don't you go under 2 bucks C!!!
Timmy says he's gotta plan!!!
Some engineers I know sent this around several years ago.