I thought the Dade story had to do with neglect of some service by the court. Otherwise, I couldn't glean what it was about. The judge may not have to actively dismiss, but simply not grant foreclosure if service requirements have not been met.
Hollywood hack...
only one person in history came into hollywood as an investor, made a killing and left. that man was joe kennedy.
but wasn't he out before The Jazz Singer? 1920's Hollywood is a different animal
than what came in the 1930s
edit: Many film budgets in the 20s reached the Cleopatra or Heaven's Gate level...
...
the Simon family invested a ton in movies and lost money on every one until they made Porkies and
brought even and got out...
he saw a great opportunity for consolidating and packaging for wall st - he also allegedly left norma desmond with a million dollar debt after skipping town. he was her manager and didn't let his family commitments get in the way of other aspects.
yes, all this took place before the talkies - the wall st crash bruised movie company stock prices, even if the biggest few survived reasonably well. joe allegedly was busy lining up his shorts in late '29 and was long since done with any long positions in much of anything.
June 26 (Bloomberg) -- R. Allen Stanford, after pleading not guilty to accusations he swindled investors in a $7 billion Ponzi scheme, won the right to be released on bail before trial.
Stanford, 59, in handcuffs and wearing an orange prison- issued jumpsuit, entered his plea yesterday before U.S. Magistrate Judge Frances Stacy in Houston. Stacy set bail at $500,000 and required the Texas financier to post a $100,000 deposit in cash. Stanford was returned to jail, at least for the night, to allow prosecutors to file an appeal.
“Nobody understood what the depths of this recession were going to look like,” Obama said. “It was only significantly later that we suddenly get a report that the economy had tanked.”
June 26 (Bloomberg) -- China Shipping Container Lines Co., the country’s second-biggest box carrier, plans to almost double rates in Asia-Europe routes to as much as $650 per twenty-foot container next month even as demand weakens.
“Companies will raise rates, not because the market has recovered, but because the shipping lines have the resolution to do this,” China Shipping Managing Director Huang Xiaowen said. “We have found that if we cut rates, load factors don’t increase,” he said in an interview in Shanghai yesterday. The company’s Hong Kong-listed stock rose the most in three weeks.
Hollywood hack...
only one person in history came into hollywood as an investor, made a killing and left. that man was joe kennedy.
but wasn't he out before The Jazz Singer? 1920's Hollywood is a different animal
than what came in the 1930s
edit: Many film budgets in the 20s reached the Cleopatra or Heaven's Gate level,
for example, von Stroheim's The Merry Widow was one of the costliest film ever made ...
it was the 20s after all and as we know there was a lot of money around...
...
the Simon family invested a ton in movies and lost money on every one until they made Porkies and
broke even and got out...
sorry for repost... but this edit feature just gave me an Access Denied!
June 26 (Bloomberg) -- Asian stocks rose as Bridgestone Corp. narrowed its loss forecast and commodity prices jumped following a government report showing the U.S. economy shrank less than expected in the first quarter.
President Barack Obama said a second stimulus package isn’t needed yet, though he expects the U.S. unemployment rate will exceed 10 percent this year.
“I think its important to see how the economy evolves and how effective the first stimulus is,” Obama said at a White House news conference.
Obama's policy is, if you see a deer in your rear-view mirror, swerve.
By Fiona Harvey in London
Published: June 25 2009 23:21
Countries implementing cap-and-trade systems for greenhouse gases may be able to use border taxes to protect domestic industries, after the World Trade Organisation gave a cautious nod to such measures.
In a report to be published on Friday, written jointly with the United Nations Environment Programme, the WTO said it was possible to implement border measures for environmental reasons under its rules.
June 26 (Bloomberg) -- The Bank of England said financial institutions’ losses from the crisis have left them vulnerable to another wave of shocks, including the risk that the economy will stay mired in recession.
“Given their leverage and funding positions, banks in the United Kingdom and internationally will remain sensitive to further shocks for some time,” the central bank said today in London. “If economic recovery were to stall as a result of weak bank lending, losses on assets could rise, further affecting confidence in the banking sector.”
When Vasco and Mrjama Lukic's American housing dream turned into a nightmare, they managed to escape through a long and complicated process known as a "short sale."
thanks for the info Hollywood Hack...
didn't know that about norma desmond... but hey, she's fictional so did he really leave her
with a million dollar debt?
....
Hearst borrowed a lot of money from Marion Davies in his lean years, wonder if she ever got it back?
No great discovery or breakthrough can ever be made by a person who believes that they know it all. The universe has more possibilities than we can imagine!
"Only Justice Clarence Thomas would have ruled the search constitutional. [School strip search of a 13 year-old girl for ibuprofen] “Preservation of order, discipline and safety in public schools is simply not the domain of the Constitution,” he wrote."
Clarence Thomas is not competent to sit on the Supreme Court and should be impeached.
Since you have lots of free time.. here is an idea.
Try to trace the origins of every major breakthrough or discovery that has been documented. You will see that they were almost all accidental, serendipitous or based on a "crazy" and non-mainstream idea.
A good example - Conrad Zuse and the binary electric computer.
talk about parallel universe just as Michael was dying I witnessing something here
in Phnom Penh that might have made him smile... but I'll tell that story on the weekend, maybe...
One of my biggest surprises since 1990 is how narrow the cultural mindset is. I started doing meme mining in 1993 but never discussed it much. Around 1999, i used it to justify technology decisions for our team and was shocked at the hostility from co-workers. People who lived and breathed stock quotes couldn't see the similarities.
Likewise, the Credit Cycle.
Very few people discuss it.
Mish & Ray Dalio are rare that way.
In addition to building the first binary electric computer (and many other first in computers- programing language etc) Zuse had this idea that the whole universe was essentially similar to a computer simulation. This was before IBM had made it's first semi-solid state binary computer!
Cycles are very human, especially in view of mass behavior. That's why I definitely buy into KW & EW cycles. Mass psychology and macroeconomics are virtually one and the same.
josap...
don't you read Chomsky? Manufacturing Consent?
if you're job depended on n set of eyeballs do you think
it's a good employment strategy to be a doom and gloomer?
If the income is low to zero the NPV tests will always come back it is better to foreclose. Some are suggesting the government pay peoples mortgages... others are saying forebear then modify.
Why don't we just foreclose and move on in those states or areas with high levels of renters? Seems like a ready pool of available buyers with jobs. Instead the banks are supposed to guess as to who will be employed in the future and at what rate. Once they modify and the borrwer goes and gets more income it isn't like the bank will see any of it.
Chlorpromazine = first antipsychotic = failed antihistamine
Imipramine = first anti-depressant = failed antipsychotic
Chlordiazepoxide = first benzodiazepine = botched sythesis
Lithium for mania = accidental discovery
Valproate for epilepsy = accidental discovery
phenytoin for epilepsy = hunch
sulfonamides = hunch + unconventional screening process
fluoroquninoles = developed from nalidixic acid = developed from failed anti-malaria drug
EVERY SINGLE anti-epileptic = accidental discovery
EVERY SINGLE sweetner = accidental discovery
Salvarsan for syphillis= first real anti-bacterial drug = hunch
EVERY SINGLE antimicrobial drug = serendipity/ hunch/ dumb luck
Synthetic opiates (methadone, pethidine)= accidental discovery
Sulfonoureas for Type II diabetes = accidental discovery
Biguanides(metformin) for type II diabetes = hunch..
Nucleoside analogues for HIV, HBV, CMW = hunch + persistence.
Kinase inhibitors for cancers (gleevec etc) = hunch + persistence
non sedating anti-histamines = hunch + persistence
haloperidol type antipsychotics = hunch + luck
anti-thyroid drugs = luck + hunch
cyclosporine for organ transplants = luck + persistence
People who were talked into self directed 401ks, all in high leveraged real estate, can't retire, can't live on what they thought was their retirement income. Those investment properties in forclousure.
Tenants I have to move out due to someone elses bad choices.
HOAs with no funds, fining every property owner they can for any cause to get more funds into the coffers.
People needing to rent because the new job they have doesn't pay near the old job, and they went into forclousure.
People who can't pay the rent due to job loss. People who pay late so they can take care of the kids.
None of these people are crooks, or bad or self indulgent. They are just people who thought they were doing the right thing, or the best thing, or the expected thing.
I see it every day. I have seen times like these before. it does end. I have not seen it this bad before. And I think it is going to get worse.
The best example of that is Seturner's extraction of morphine from opium.. almost 200 years ago! He was just a curious apothecary who dabbled in chemistry.
We still do not have a better drug for severe pain. Look up how he did it.. a chemical process that was so simple and elegant that we still use the basic idea for extracting morphine from opium today!
To do this, Sertürner extracted opium with hot water, precipitating the morphine with ammonia.
Did you see the stats that show a rather amazing jump in 55+ people getting jobs, sometimes multiple? Retirement's no longer an option for a lot of people.
Several people I know had planned on getting a reverse mortgage as part of their retirement income. They don't understand those mortgages and had not done any real looking into them, but it looked good on TV.
With that part of the plan gone, the 401k losses etc, they are now trying to figure out what the hell to do.
That's ok. I don't need the link. I see some of it around me.
The hard part for some people is that they expected to retire and retire ok. Not rich, but ok.
Now they are disapointed and for some reason think it is their fault for not seeing into the future. Most people don't study the economy, they just do what the "smart guys" tell them to do.
The discovery of vulcanization of rubber was also serendipitous, but Goodyear recognized the possibilities. Imagine all the unexpected results that have been considered a worthless fluke and remain to be rediscovered.
heard a great money washing scheme that involved an NGO
set up thru the Vatican by an Italian player who was a legal arms dealer,
unfortunately they were being tracked and the moment they pulled millions from the account
they got a phone call.... pay back the money now or else,
they did, the Italian walked but the American wasn't so lucky...
he's in a jail cell rotting for years to come...
[the story and details are completely verified]
Try to trace the origins of every major breakthrough or discovery that has been documented. You will see that they were almost all accidental, serendipitous or based on a "crazy" and non-mainstream idea.
I used to think it was amazing, too. And how senile empires are overthrown by the young barbarians. Then I realized that in order to be recognized as a major change, it has to come from without, otherwise it's business as usual. I mean to qualify as a breakthrough, all the normal avenues have to be explored and discarded prior to hitting a brick wall, that's what makes them exciting.
None of these people are crooks, or bad or self indulgent
Nature of demographics.
The Crash was predictable, although the exact time was not.
Some things aren't an issue of morality. Sometimes less about choice and more about personality. From the outside it might appear that a choice was made but in reality, personality made that choice almost inevitable.
I'm thinking about Michael Jackson versus OJ Simpson. There's evidence that that the OJ murders were premediatated although the crime scene implies a fit of rage. In Jackson's case, he's a tragic figure. We don't know that he did anything more than touch and fantasize and there's evidence that the parents were seeking payoff money. Did he deserve his last fifteen years of tortured life?
Did he commit suicide?
It's easier to rain down Icy Hot Righteous Rage on someone who bears a burden of guilt.
Many people will lose pensions who "don't deserve it".
Many hard moral questions here.
broward,
my take on the Jackson thing is that it wasn't a suicide,
I'm guessing that we was using pain meds to much like say OxyContin
... went to high school with this girl who later became a nurse and
got into pain medications... license got stripped and
they found her dead one day at her kitchen table
cause: heart attack at 43
....
there is evidence on record that he had used pain meds in the past. plus. he had been
preparing for a huge tour and then it was postponed, maybe he found out that his
body was too worn out...
Re: suicide, perhaps not explicitly but "accidently on purpose", especially with the pressure of the tour already being postponed. It's strangely disturbing.
I walked into the Crescent Bar and people were playing Thriller on the jukebox.
I scrolled through my iPhone and saw that I'd never added any of his songs.
I saw him once while I lived in Vegas, he walked through the crowd at Caesar's surrounded by an entourage of perhaps ten people. Someone shouted, "It's Michael Jackson" and the crowd flowed along with the entourage as it quickly passed by.
broward...
yeah, that accidental suicide might be it, they put the tour off for an entire year, why?
maybe his body was just breaking down (like Errol Flynn)
....
One more thing... I knew this German (his great uncle was Kurt von Tippelskirch) who studied under Scorsese
at Columbia Film School around the time he made the MTV video for Bad...
He told me how difficult if not impossible it was for 'Marty' to make Michael look like a real tough guy! and how many
takes they'd have to do in the parking garage, so many tricks he used and yet ... in the end it sounded like Scorsese was embarrassed
he ever took the assignment.
maybe MJ was manic depressive, I have this friend who is from CA and somewhat peripherally on the edge of the business. She was a special assistant to QJ and she has regaled me with stories of how tough it sometimes was to get MJ out of his room and into the studio, other days when he would go for hours at a frantic pace. So sad, never better on the upswing and immeasurably down when the low scudding clouds blocked out the light.
on a lighter note looks like the 'revolution' in Iran is running out of steam... the Guardian Council
just ruled that the vote had been the 'healthiest since 1979.
...
guess they're waiting for their Yeltsin...
.....
new addition to the suppression tool box - using rooftop snipers to pick off people, creating
more even fear...
remember when every talking head was calling a Twitter or Facebook revolution? that works
until they bring down or cripple the network...
....
June 26 (Bloomberg) -- China’s central bank renewed its call for a global currency and said the International Monetary Fund should manage part of its members’ foreign-exchange reserves, triggering a decline in the U.S. dollar.
“To prevent the deficiencies in the main reserve currency, there’s a need to create a new currency that’s delinked from the economies of the issuers,” the People’s Bank of China said in a review of the economy in 2008 released today.
Many things are driven by environment or circumstance.
More so than most people acknowledge, I think.
The Revolution in Iran is proceeding according to plan. Somebody, somewhere, posted a Stratfor synopsis of the revolution which predicted that it would be short-lived and unsuccessful, that Western media has grossly misinterpreted the power factions and motives in Iran.
The real problem with morality is that it requires a lot of thought.
Unless you're a robot.
Which most people are.
spoke yesterday with another friend who had to get out of Tehran by taxi. No flights available. He says the movement is anything but dead or dying. I would tend to agree and he should know. His family is related to the Khamenei clan, from the business/merchant side. They have always had some animated conversations when the family gathered, he once told me of a brief shouting match between his father and the mullah himself (they're brothers apparently).
He says the sinister period will be when the news stops and interest turns to some other major news event like MJ's death/suicide.
HomeGnome: go get your fork and get ready for further instructions. We ALREADY are toast. We're freaking done.
All of this is staring at the detritus circling the drain.
The problem with Iran - Current government cannot create more job opportunities for it's educated and youthful population. Making educated women wear head scarves has also been historically problematic.
"There was an honesty moment when Secretary Geithner was in Beijing University giving a speech. He said, Your investments in a trillion dollars worth of U.S. debt are secure, and the audience laughed at him. It's very un-Chinese to do, to embarrass a speaker in public, but I think it reflected a growing concern in Beijing."
HomeGnome (profile) wrote on Fri, 6/26/2009 - 4:21 am
I asked the wife for one or two of these for my birthday:
http://en.wikipedia.org/wiki/Pekin_Duck
From the Wikipedia: Ducks can be tricked into laying eggs where desired by placing a golf ball or similar object in a place where they might normally lay.
Citigroup Ordered to Suspend Some Operations in Japan
June 26 (Bloomberg)--Citigroup Inc. was ordered by Japan’s financial regulator to suspend marketing of banking services to individuals for a month, after failing to put in place adequate internal controls to prevent money laundering.
A lot of things that are prescribed for the hypomanic phase - thinking specifically Klonopin here - are very dangerous to stop taking, as is the wont of someone about to enter their hypermanic phase.
ZackAttack (homepage, profile) wrote on Fri, 6/26/2009 - 11:35 am
A lot of things that are prescribed for the hypomanic phase - thinking specifically Klonopin here - are very dangerous to stop taking, as is the wont of someone about to enter their hypermanic phase.
Let the Fascism continue:
June 26 (Bloomberg) -- The U.S. Senate proposal to impose taxes for the first time on “gold-plated” health plans may bypass generous employee benefits negotiated by unions.
Government is picking economic winners and losers...
HomeGnome
and you don't have a pair of tall Khmer ladyboys who protect me like a Praetorian Guard...
in last night's episode one them beat the crap out some girl who said F*** you to me
after I told her I wasn't interested in playing doubles in 8 ball (had control of the table)
was a hell of a fight and I just hung back, no need to get my hair mussed in a sexual/ethnic squabble!
@ BSR.
Thanks.
I was looking up Jersey Cows on Wiki last night:
Brown Bessie, the famous champion butter cow of the Chicago World's Fair dairy test, averaged over 18 kg (40 pounds) of milk a day for five months, and made 1.3 kg (3 pounds) of butter a day several times.
Jerseys on average produce about 50lb of milk per day.
Germany’s powerful export industry is warning of a credit squeeze in Europe’s largest economy even after the European Central Bank’s injection this week of one-year liquidity into the eurozone banking system.
The German BGA exporters’ association on Thursday forecast a “dramatic deterioration” in credit conditions in coming months, which would result in “massive financing squeeze”.
...
The severity of continental Europe’s recession was underlined on Thursday by a 35.5 per cent fall in eurozone industrial orders in April compared with the same month a year before, reported by Eurostat, the European Union’s statistical office. That was the steepest such fall since records began in 1996. Germany reported a 39.5 per cent drop.
Our Jersey is a mix. She also came to us with one quadrant dry (use of only three teats). She puts out about three gallons of cream rich (25%) milk everyday and is a delight to have.
you can have credit which is payable. It just can't be compounded interest over
anything of a long time. Compound interest over a long time simply
can't be repaid. It is not a good map of the world of possible future thing.
I think it's why some religions ban interest. It is observed to be a BAD THING
over a long time, and religions typically last a long time and observe this.
However banning interest is impossible too. It's unfair.
I suggest a regime of simple interest; short term compound interest, or
compound interest only allowed at a very low interest rate--say 4 1/2 %,
or a combination of same.
Power law math should be strictly limited when it comes to human beings.
We reproduce power law-wise because if we didn't evolution would have
eliminated us. The visits of the Black Plague, and revisits every 20 years or
so for 300 years smashed overpopulation and kept Western Europes population
low for the whole time. If we didn't power law reproduce, we could have been
wiped out right then. And prolly lots of times in pre-history.
Evidence of unintelligent design, unless pain & suffering is what you want
to maximize.
LawyerLiz,
had not the Church changed its stance on usury Florence would not look like it does today...
that's where double ledger accounting started, I believe
Black Star Ranch (profile) wrote on Fri, 6/26/2009 - 5:08 am
Our Jersey is a mix. She also came to us with one quadrant dry (use of only three teats). She puts out about three gallons of cream rich (25%) milk everyday and is a delight to have.
Well, that straightens that out. I had thought they were called sectors
So, what's a finance survivalist to do today? Ignore Asia, cruise some currency movements, see where Yerp ends up, check the CR board. Drink much coffee. Get onto and off of the Red Line vertical and warm, not the opposite.
Belle is part angus I believe - a beef cow. She just had her first calf three weeks ago. This "cow thing" is fairly new to us. With three teenagers, the Mrs & I drinking milk, we were going through 2-3 gals a day. One day I spouted off 'we may as well own a damned cow' and the rest is history. Helluva lot easier than milking goats or snakes for that matter.
Black Star Ranch (profile) wrote on Fri, 6/26/2009 - 5:08 am
Our Jersey is a mix. She also came to us with one quadrant dry (use of only three teats). She puts out about three gallons of cream rich (25%) milk everyday and is a delight to have.
Did you figure in a 25% vacancy rate when calculating her cap rate of return?
I think that the church meant any kind of interest, but I suspect there were
interesting details. I am trying to limit interest to the point where it is actually
payable, which would benefit both creditors and debtors.
Abundantly clear in the aftermath of the news that Steve Jobs underwent an emergency liver transplant last week is the fact that Apple has been downright secretive and dishonest about the health of their CEO. It’s certainly not debatable that Jobs illness is sad, and public scrutiny during such times must be trying for him and his family, but the question remains whether or not Apple was ethical in keeping the state of his health from investors.
One big voice in the finance community certainly thinks it was sketchy: Warren Buffet. In fact, according to the head of Berkshire Hathaway, Apple’s failure to disclose Jobs’ illness to shareholders might be more than sketchy: they may very well have violated the law.
"America’s biggest oil companies will probably cope with U.S. carbon legislation by closing fuel plants" - makes sense to me. There's Cap & Trade for you. Just another scam to allow bankers, financiers, and pols to trade.
What part of Jobs going on extended medical leave wasn't enough? Of all the blatantly illegal misrepresentations of financially relevant information Buffet is worried about this? Oh, I see. Buffet is used to be on the winning side of inside information exploitation.
Of all the blatantly illegal misrepresentations of financially relevant information Buffet is worried about this? Oh, I see. Buffet is used to be on the winning side of inside information exploitation.
Providing Insider info will soon be a legal duty to the first tier of financiers. As soon as it gets bad enough.
The May income numbers are much worse than the headline numbers. Why? Most of the big increase is the result of government transfers.
From the BEA release.
Personal current transfer receipts increased $162.6 billion in May, compared with an increase of $59.1 billion in April.
The American Recovery and Reinvestment Act of 2009 provides for one-time payments of $250 to eligible individuals
receiving social security, supplemental security income, veterans benefits, and railroad retirement benefits.
Private wages fell $12.9 billion. Government debt is not a substitute for a vibrant private sector.
I've lost all respect for Buffett. He was first in line for the government bailouts. He's even become a CNBC cheerleader.
Cheerleading the biggest swindle in history is a sure sign of a kleptocrat. Buffett is a phoney. If he and others were managing capital efficiently as they claim, these bubbles nevver would have happened and the bailouts wouldn't be necessary.
Buffett is an inflation gatherer. He would perish if creative destruction were allowed to occur. Buffett wouldn't exist without inflation.
WASHINGTON (MarketWatch) -- U.S. personal incomes jumped 1.4% in May due to one-time $250 payments to Social Security beneficiaries as part of the stimulus program, the Commerce Department reported Friday. Consumer spending rose 0.3% in nominal terms. The results were in line with the consensus of economists surveyed by MarketWatch. With the boost to incomes, the savings rate rose to 6.9%. Excluding the one-time payments, disposable incomes rose 0.2%, the government said. Wages and salaries fell 0.1%. Real consumer spending (adjusted for inflation) rose 0.2%.
The banks that are "too big to fail" are too risky to break apart or put into receivership.
Yet, banks should not expect to receive money. Precisely as they have in the past - what
malarky!
Individuals that have loans should be accountable. But, not banks that get their debts paid
or forgiven by the government.
No regulations are proposed to break these institutions up so they're no longer too big to
fail - just more watching them - but, wasn't Geithner the guy watching them before as head
of the NY Fed? Doubletalk and lies.
Obama has no intention of installing meaningful controls. He's just giving bankers full
Credit is an interesting concept..
A system based on credit cannot work without periodic mass defaults or jubilees.
obligor is a great word
I thought the Dade story had to do with neglect of some service by the court. Otherwise, I couldn't glean what it was about. The judge may not have to actively dismiss, but simply not grant foreclosure if service requirements have not been met.
From the last thread..
In German .. Gift = Poison
"The credit bubble: the gift that keeps on giving."
Hollywood hack...
only one person in history came into hollywood as an investor, made a killing and left. that man was joe kennedy.
but wasn't he out before The Jazz Singer? 1920's Hollywood is a different animal
than what came in the 1930s
edit: Many film budgets in the 20s reached the Cleopatra or Heaven's Gate level...
...
the Simon family invested a ton in movies and lost money on every one until they made Porkies and
brought even and got out...
No more pigs tonight ... but I thought this was fun.
CR, what about expected capital gains in cap rates?
Subprime is contained?
//No more pigs tonight ... but I thought this was fun.//
"but wasn't he out before The Jazz Singer?"
Joseph P. Kennedy, Sr. - Wikipedia, the free encyclopedia
he saw a great opportunity for consolidating and packaging for wall st - he also allegedly left norma desmond with a million dollar debt after skipping town. he was her manager and didn't let his family commitments get in the way of other aspects.
yes, all this took place before the talkies - the wall st crash bruised movie company stock prices, even if the biggest few survived reasonably well. joe allegedly was busy lining up his shorts in late '29 and was long since done with any long positions in much of anything.
Steal 700$ - go to jail.. steal 7 billion - released on bail
Stanford Pleads Not Guilty, May Be Released on Bail Today
Stanford Pleads Not Guilty, May Be Freed on Bail (Update1) - Bloomberg.com
By Laurel Brubaker Calkins
June 26 (Bloomberg) -- R. Allen Stanford, after pleading not guilty to accusations he swindled investors in a $7 billion Ponzi scheme, won the right to be released on bail before trial.
Stanford, 59, in handcuffs and wearing an orange prison- issued jumpsuit, entered his plea yesterday before U.S. Magistrate Judge Frances Stacy in Houston. Stacy set bail at $500,000 and required the Texas financier to post a $100,000 deposit in cash. Stanford was returned to jail, at least for the night, to allow prosecutors to file an appeal.
mp, what about cap rates?
I was out - so I probably missed something
best
“Nobody understood what the depths of this recession were going to look like,” Obama said. “It was only significantly later that we suddenly get a report that the economy had tanked.”
Obama Says Second Fiscal Stimulus Bill Not Yet Needed (Update2) - Bloomberg.com
Conjuring green shoots?
China Shipping to Almost Double Rates on Asia-Europe Routes
China Shipping to Almost Double Asia-Europe Rates (Update1) - Bloomberg.com
By Wendy Leung
June 26 (Bloomberg) -- China Shipping Container Lines Co., the country’s second-biggest box carrier, plans to almost double rates in Asia-Europe routes to as much as $650 per twenty-foot container next month even as demand weakens.
“Companies will raise rates, not because the market has recovered, but because the shipping lines have the resolution to do this,” China Shipping Managing Director Huang Xiaowen said. “We have found that if we cut rates, load factors don’t increase,” he said in an interview in Shanghai yesterday. The company’s Hong Kong-listed stock rose the most in three weeks.
Earlier, during the discussion on cap rates, I mentioned that some included expected capital gains in their cash flow calculations.
I considered this crazy, but mention it seemed to justify some pretty big loans.
Hollywood hack...
only one person in history came into hollywood as an investor, made a killing and left. that man was joe kennedy.
but wasn't he out before The Jazz Singer? 1920's Hollywood is a different animal
than what came in the 1930s
edit: Many film budgets in the 20s reached the Cleopatra or Heaven's Gate level,
for example, von Stroheim's The Merry Widow was one of the costliest film ever made ...
it was the 20s after all and as we know there was a lot of money around...
...
the Simon family invested a ton in movies and lost money on every one until they made Porkies and
broke even and got out...
sorry for repost... but this edit feature just gave me an Access Denied!
What are they smoking?
Asian Stocks Rise on Growth Optimism; Nippon Electric Advances
Asian Stocks Rise on Growth Optimism; Nippon Electric Advances - Bloomberg.com
By Jonathan Burgos and Masaki Kondo
June 26 (Bloomberg) -- Asian stocks rose as Bridgestone Corp. narrowed its loss forecast and commodity prices jumped following a government report showing the U.S. economy shrank less than expected in the first quarter.
President Barack Obama said a second stimulus package isn’t needed yet, though he expects the U.S. unemployment rate will exceed 10 percent this year.
“I think its important to see how the economy evolves and how effective the first stimulus is,” Obama said at a White House news conference.
Obama's policy is, if you see a deer in your rear-view mirror, swerve.
Hollywood
....
that edit feature is acting really funny
Beggar thy neighbor?
China to Keep Yuan From Rising for Second Year, Forwards Show
China to Keep Yuan From Rising on Jobs, Forwards Show (Update1) - Bloomberg.com
mp, I wouldn't include capital gains in a cap rate calculation - and those number I posted from Costar don't either.
This is a period of limited financing (the buyer paid all cash), although I'm wondering if there might be some expected vacancies coming up.
best wishes
The west has to accept the new reality.. evolution occurs through adaptation or extinction.. make your choice.
WTO signals backing for border taxes
FT.com / US & Canada - WTO signals backing for border taxes
By Fiona Harvey in London
Published: June 25 2009 23:21
Countries implementing cap-and-trade systems for greenhouse gases may be able to use border taxes to protect domestic industries, after the World Trade Organisation gave a cautious nod to such measures.
In a report to be published on Friday, written jointly with the United Nations Environment Programme, the WTO said it was possible to implement border measures for environmental reasons under its rules.
CR, thanks. Your answer helps explain the proper way to calculate the rate.
As mentioned earlier, I was aware of people who were including expected capital gains in their cash flow calculations.
Flipper types.
Is there an award for reiterate the freaking obvious?
Bank of England Says Financial System Vulnerable to More Shocks
Bank of England Says Financial System Vulnerable to More Shocks - Bloomberg.com
By Jennifer Ryan and Brian Swint
June 26 (Bloomberg) -- The Bank of England said financial institutions’ losses from the crisis have left them vulnerable to another wave of shocks, including the risk that the economy will stay mired in recession.
“Given their leverage and funding positions, banks in the United Kingdom and internationally will remain sensitive to further shocks for some time,” the central bank said today in London. “If economic recovery were to stall as a result of weak bank lending, losses on assets could rise, further affecting confidence in the banking sector.”
CR!
right now I am locked out of one of my postings as if someone else wrote it... I tried to eliminate it and can't...
So princetonites and harvardites are incompetent?
//“Nobody understood what the depths of this recession were going to look like,” Obama said. //
One of the most useless guys I ever worked with had a Harvard MBA.
Never confuse education with intelligence.
No comments! Rebound in housing.. Rebound?
Rebound In Housing Hampered By Slowdown in 'Short Sales'
Sluggish Short-Sale Market Hampering Real Estate Recovery - CNBC
By: Jeff Cox, CNBC.com | 25 Jun 2009
When Vasco and Mrjama Lukic's American housing dream turned into a nightmare, they managed to escape through a long and complicated process known as a "short sale."
thanks for the info Hollywood Hack...
didn't know that about norma desmond... but hey, she's fictional so did he really leave her
with a million dollar debt?
....
Hearst borrowed a lot of money from Marion Davies in his lean years, wonder if she ever got it back?
josap,
No great discovery or breakthrough can ever be made by a person who believes that they know it all. The universe has more possibilities than we can imagine!
Never confuse education with intelligence.
Almost impossible to do if you have an MBA, especially from Harvard.
Lucifer, I agree.
I have been reading those articals as well.
These people are nuts.
Increase prices for shipping goods, Constrain trade.
Increase cost of exportinng goods. Also constrain world trade.
At least governments don't have to put protectionist policies in place, the businesses of the world will do it for them.
"Only Justice Clarence Thomas would have ruled the search constitutional. [School strip search of a 13 year-old girl for ibuprofen] “Preservation of order, discipline and safety in public schools is simply not the domain of the Constitution,” he wrote."
Clarence Thomas is not competent to sit on the Supreme Court and should be impeached.
broward,
Since you have lots of free time.. here is an idea.
Try to trace the origins of every major breakthrough or discovery that has been documented. You will see that they were almost all accidental, serendipitous or based on a "crazy" and non-mainstream idea.
A good example - Conrad Zuse and the binary electric computer.
Anita Hill warned us about that!
//Only Justice Clarence Thomas would have ruled the search constitutional//
Wasn't "Obligor" the villain in one of the He-Man shows?
right now I am locked out of one of my postings as if someone else wrote it... I tried to eliminate it and can't...
If someone "replies" (by hitting the reply tag next to a comment), then the comment is locked forevermore.
Those who forget the past are condemned to repeat it!
//At least governments don't have to put protectionist policies in place, the businesses of the world will do it for them.//
talk about parallel universe just as Michael was dying I witnessing something here
in Phnom Penh that might have made him smile... but I'll tell that story on the weekend, maybe...
haven't heard a peep from my two in Burma...
Rebound In Housing Hampered By Slowdown in 'Short Sales'
I expect a CNBC analyst to say we need another government program to increase the number of underwater houses to strengthen our supply of short sales.
based on a "crazy" and non-mainstream idea
One of my biggest surprises since 1990 is how narrow the cultural mindset is. I started doing meme mining in 1993 but never discussed it much. Around 1999, i used it to justify technology decisions for our team and was shocked at the hostility from co-workers. People who lived and breathed stock quotes couldn't see the similarities.
Likewise, the Credit Cycle.
Very few people discuss it.
Mish & Ray Dalio are rare that way.
locked forevermore.
Quoth the MLM.
the song parody "where credit is due"
is sung to the tune of
voulez-vous coucher avec moi
how appropriate for the debt reaming come - ing our way
CNBC has been running "be happy your unemployed" stories.
they make me insane.
Pumping denial to the masses, keep them calm,keep them happy, keep them off the streets.
It is the same in the biotech/ pharma industry!
//One of my biggest surprises since 1990 is how narrow the cultural mindset is. //
broward,
In addition to building the first binary electric computer (and many other first in computers- programing language etc) Zuse had this idea that the whole universe was essentially similar to a computer simulation. This was before IBM had made it's first semi-solid state binary computer!
Lucifer, are you in the biotech world?
Likewise, the Credit Cycle.
Cycles are very human, especially in view of mass behavior. That's why I definitely buy into KW & EW cycles. Mass psychology and macroeconomics are virtually one and the same.
the whole universe was essentially similar to a computer simulation
One of the most interesting articles from last year - holographic universe -
Writer to the World - Evidence and Implications of a Holographic Universe
'night, all. Later, mock t.
yep, later..1cny
josap...
don't you read Chomsky? Manufacturing Consent?
if you're job depended on n set of eyeballs do you think
it's a good employment strategy to be a doom and gloomer?
TJ: Mass psychology and macroeconomics are virtually one and the same.
That is why Bernanke and Krugman left the economics business for the propaganda business.
Wow, the # of Michael Jackson conspiracy threads is huge.
It's going to be just like Elvis, the story that never ends and you never know the truth.
There's even a thread for "Dead MJ Jokes".
Godlike Productions - Conspiracy Forum
I thought the WSJ article on unemployment hampering the loan modification effort was pretty good:
Effective Demand: Unemployment and loan modifications don't mix.
If the income is low to zero the NPV tests will always come back it is better to foreclose. Some are suggesting the government pay peoples mortgages... others are saying forebear then modify.
Why don't we just foreclose and move on in those states or areas with high levels of renters? Seems like a ready pool of available buyers with jobs. Instead the banks are supposed to guess as to who will be employed in the future and at what rate. Once they modify and the borrwer goes and gets more income it isn't like the bank will see any of it.
Chlorpromazine = first antipsychotic = failed antihistamine
Imipramine = first anti-depressant = failed antipsychotic
Chlordiazepoxide = first benzodiazepine = botched sythesis
Lithium for mania = accidental discovery
Valproate for epilepsy = accidental discovery
phenytoin for epilepsy = hunch
sulfonamides = hunch + unconventional screening process
fluoroquninoles = developed from nalidixic acid = developed from failed anti-malaria drug
EVERY SINGLE anti-epileptic = accidental discovery
EVERY SINGLE sweetner = accidental discovery
Salvarsan for syphillis= first real anti-bacterial drug = hunch
EVERY SINGLE antimicrobial drug = serendipity/ hunch/ dumb luck
Synthetic opiates (methadone, pethidine)= accidental discovery
Sulfonoureas for Type II diabetes = accidental discovery
Biguanides(metformin) for type II diabetes = hunch..
Nucleoside analogues for HIV, HBV, CMW = hunch + persistence.
Kinase inhibitors for cancers (gleevec etc) = hunch + persistence
non sedating anti-histamines = hunch + persistence
haloperidol type antipsychotics = hunch + luck
anti-thyroid drugs = luck + hunch
cyclosporine for organ transplants = luck + persistence
I can go on and on..
if you're job depended on n set of eyeballs do you think
it's a good employment strategy to be a doom and gloomer?
No but some of us are who we are.
Chomsky was the first person that made me wonder if my assumptions about liberals were wrong.
We really are a bunch of hairless monkeys that can't think very well.
Most but not all.
//We really are a bunch of hairless monkeys that can't think very well.//
Most but not all.
Anyone that is not falls so far from the social norm that they're effectively dysfunctional.
Off to play pool.
Later.
can't believe you forgot lsd, lucy. probably not the best drug for women in labor...
Sorry, doom & gloom is what I see allot of now.
People who were talked into self directed 401ks, all in high leveraged real estate, can't retire, can't live on what they thought was their retirement income. Those investment properties in forclousure.
Tenants I have to move out due to someone elses bad choices.
HOAs with no funds, fining every property owner they can for any cause to get more funds into the coffers.
People needing to rent because the new job they have doesn't pay near the old job, and they went into forclousure.
People who can't pay the rent due to job loss. People who pay late so they can take care of the kids.
None of these people are crooks, or bad or self indulgent. They are just people who thought they were doing the right thing, or the best thing, or the expected thing.
I see it every day. I have seen times like these before. it does end. I have not seen it this bad before. And I think it is going to get worse.
The best example of that is Seturner's extraction of morphine from opium.. almost 200 years ago! He was just a curious apothecary who dabbled in chemistry.
We still do not have a better drug for severe pain. Look up how he did it.. a chemical process that was so simple and elegant that we still use the basic idea for extracting morphine from opium today!
To do this, Sertürner extracted opium with hot water, precipitating the morphine with ammonia.
http://en.wikipedia.org/wiki/Friedrich_Sertürner
//can't believe you forgot lsd, lucy.//
josap,
Did you see the stats that show a rather amazing jump in 55+ people getting jobs, sometimes multiple? Retirement's no longer an option for a lot of people.
No, haven't seen the stats yet.
I am sure it isn't pretty.
Still cracks me up that sildenafil citrate was being tested as a heart medicine when the control group noticed certain... side effects.
Yes and the anti-angina effects of organic nitrates were discovered in munition factory workers.
//Still cracks me up that sildenafil citrate was being tested as a heart medicine when the control group noticed certain... side effects. //
Several people I know had planned on getting a reverse mortgage as part of their retirement income. They don't understand those mortgages and had not done any real looking into them, but it looked good on TV.
With that part of the plan gone, the 401k losses etc, they are now trying to figure out what the hell to do.
josap,
Sorry, can't remember where I read it, so no linky. I'll keep looking...
That's ok. I don't need the link. I see some of it around me.
The hard part for some people is that they expected to retire and retire ok. Not rich, but ok.
Now they are disapointed and for some reason think it is their fault for not seeing into the future. Most people don't study the economy, they just do what the "smart guys" tell them to do.
otishertz (profile) wrote on Thu, 6/25/2009 - 5:28 pm
"I just don't see it. People's appetite to borrow is long gone."
People's appetite to repay is long gone.
josap: "Should I just buy 20 acres and start chopping wood? "
mp: I don't know what you're doing now, but chopping wood would probably be healthier.
George Washington chopped wood and now he's dead.
LOL, so we all will be in the end.
However long each of us take to get there.
"Still cracks me up that sildenafil citrate was being tested as a heart medicine when the control group noticed certain... side effects."
I did not know they had moved it.
The discovery of vulcanization of rubber was also serendipitous, but Goodyear recognized the possibilities. Imagine all the unexpected results that have been considered a worthless fluke and remain to be rediscovered.
Ogg and Ugg were collaborating on the concept of fiat money when they discovered the wheel.
Lucifer,
very interesting list and I would like to try that extraction process but since you can buy morphine over the counter here,
why bother?
Released today on IEA's public site. US oil demand still falling.
http://omrpublic.iea.org/demand/us_tp_ov.pdf
To all a good night.
heard a great money washing scheme that involved an NGO
set up thru the Vatican by an Italian player who was a legal arms dealer,
unfortunately they were being tracked and the moment they pulled millions from the account
they got a phone call.... pay back the money now or else,
they did, the Italian walked but the American wasn't so lucky...
he's in a jail cell rotting for years to come...
[the story and details are completely verified]
so, Duke of Con, it seems you have scant in the way of audience
care to wax eloquent about any given subject?
Try to trace the origins of every major breakthrough or discovery that has been documented. You will see that they were almost all accidental, serendipitous or based on a "crazy" and non-mainstream idea.
I used to think it was amazing, too. And how senile empires are overthrown by the young barbarians. Then I realized that in order to be recognized as a major change, it has to come from without, otherwise it's business as usual. I mean to qualify as a breakthrough, all the normal avenues have to be explored and discarded prior to hitting a brick wall, that's what makes them exciting.
None of these people are crooks, or bad or self indulgent
Nature of demographics.
The Crash was predictable, although the exact time was not.
Some things aren't an issue of morality. Sometimes less about choice and more about personality. From the outside it might appear that a choice was made but in reality, personality made that choice almost inevitable.
I'm thinking about Michael Jackson versus OJ Simpson. There's evidence that that the OJ murders were premediatated although the crime scene implies a fit of rage. In Jackson's case, he's a tragic figure. We don't know that he did anything more than touch and fantasize and there's evidence that the parents were seeking payoff money. Did he deserve his last fifteen years of tortured life?
Did he commit suicide?
It's easier to rain down Icy Hot Righteous Rage on someone who bears a burden of guilt.
Many people will lose pensions who "don't deserve it".
Many hard moral questions here.
mp,
That certainly explains why crude oil futures are up to 71...
broward,
my take on the Jackson thing is that it wasn't a suicide,
I'm guessing that we was using pain meds to much like say OxyContin
... went to high school with this girl who later became a nurse and
got into pain medications... license got stripped and
they found her dead one day at her kitchen table
cause: heart attack at 43
....
there is evidence on record that he had used pain meds in the past. plus. he had been
preparing for a huge tour and then it was postponed, maybe he found out that his
body was too worn out...
using pain meds too like say OxyContin
Demerol.
Re: suicide, perhaps not explicitly but "accidently on purpose", especially with the pressure of the tour already being postponed. It's strangely disturbing.
I walked into the Crescent Bar and people were playing Thriller on the jukebox.
I scrolled through my iPhone and saw that I'd never added any of his songs.
I saw him once while I lived in Vegas, he walked through the crowd at Caesar's surrounded by an entourage of perhaps ten people. Someone shouted, "It's Michael Jackson" and the crowd flowed along with the entourage as it quickly passed by.
broward...
yeah, that accidental suicide might be it, they put the tour off for an entire year, why?
maybe his body was just breaking down (like Errol Flynn)
....
One more thing... I knew this German (his great uncle was Kurt von Tippelskirch) who studied under Scorsese
at Columbia Film School around the time he made the MTV video for Bad...
He told me how difficult if not impossible it was for 'Marty' to make Michael look like a real tough guy! and how many
takes they'd have to do in the parking garage, so many tricks he used and yet ... in the end it sounded like Scorsese was embarrassed
he ever took the assignment.
Who is the greater criminal - Michael Jackson or Hank Paulson?
broward - apples and oranges, or maybe more like measuring the universe (Paulson) with a yardstick (Jackson)
maybe MJ was manic depressive, I have this friend who is from CA and somewhat peripherally on the edge of the business. She was a special assistant to QJ and she has regaled me with stories of how tough it sometimes was to get MJ out of his room and into the studio, other days when he would go for hours at a frantic pace. So sad, never better on the upswing and immeasurably down when the low scudding clouds blocked out the light.
on a lighter note looks like the 'revolution' in Iran is running out of steam... the Guardian Council
just ruled that the vote had been the 'healthiest since 1979.
...
guess they're waiting for their Yeltsin...
.....
new addition to the suppression tool box - using rooftop snipers to pick off people, creating
more even fear...
remember when every talking head was calling a Twitter or Facebook revolution? that works
until they bring down or cripple the network...
....
China Reiterates Call for New World Reserve Currency (Update2)
China Reiterates Call for New World Reserve Currency (Update4) - Bloomberg.com
By Bloomberg News
June 26 (Bloomberg) -- China’s central bank renewed its call for a global currency and said the International Monetary Fund should manage part of its members’ foreign-exchange reserves, triggering a decline in the U.S. dollar.
“To prevent the deficiencies in the main reserve currency, there’s a need to create a new currency that’s delinked from the economies of the issuers,” the People’s Bank of China said in a review of the economy in 2008 released today.
2010.
The End.
USD loses reserve status and WE ARE TOAST!
maybe MJ was manic depressive
Many things are driven by environment or circumstance.
More so than most people acknowledge, I think.
The Revolution in Iran is proceeding according to plan. Somebody, somewhere, posted a Stratfor synopsis of the revolution which predicted that it would be short-lived and unsuccessful, that Western media has grossly misinterpreted the power factions and motives in Iran.
The real problem with morality is that it requires a lot of thought.
Unless you're a robot.
Which most people are.
spoke yesterday with another friend who had to get out of Tehran by taxi. No flights available. He says the movement is anything but dead or dying. I would tend to agree and he should know. His family is related to the Khamenei clan, from the business/merchant side. They have always had some animated conversations when the family gathered, he once told me of a brief shouting match between his father and the mullah himself (they're brothers apparently).
He says the sinister period will be when the news stops and interest turns to some other major news event like MJ's death/suicide.
HomeGnome: go get your fork and get ready for further instructions. We ALREADY are toast. We're freaking done.
All of this is staring at the detritus circling the drain.
The problem with Iran - Current government cannot create more job opportunities for it's educated and youthful population. Making educated women wear head scarves has also been historically problematic.
stratfor is a tool, a framing device
Volker, it's my birthday today and I'm NOT sitting on any damn forks.
Carry on, sir.
But, agreed.
We are TOAST!
Carbon cap and trade = bad idea!
well, have a toasty b'day
Dollar slips; China calls for new reserve currency
Interesting start to the day.
China; $80 Billion in new gold, the USD, their laughing at us:
China; $80 Billion in new gold, the USD, their laughing at us
"There was an honesty moment when Secretary Geithner was in Beijing University giving a speech. He said, Your investments in a trillion dollars worth of U.S. debt are secure, and the audience laughed at him. It's very un-Chinese to do, to embarrass a speaker in public, but I think it reflected a growing concern in Beijing."
stratfor is a tool, a framing device
I haven't read Stratfor much for the past several years but it usually seemed well researched, reasonable and accurate.
It seemed likely that we ARE projecting our own beliefs and desired outcomes onto a culture we know little about.
it's my birthday today
Oh, put another candle on my birthday cake
Were going to bake
a birthday cake
Oh, put another candle on my birthday cake
I'm another year old today
I'm 34 days younger than Michael Jackson and still alive!
of course, well researched and by the best minds money can buy
but to what net positive benefit and in whose best interest
the best lie told and all that
María Belén Chapur has been identified as Mark Sanford's alleged mistress. Politico links to an Argentinian outlet that identifies the mother-of-two.
MARIA BELEN CHAPUR (SHAPUR?): Mark Sanford's Mistress (PHOTO, NEWS, VIDEO, INFO)
...Guanabee has also got the Maria Belen Chapur photo, seen here, and reports it is an authentic screengrab from a news video.
The video shows Chapur in New York City covering the 9/11 attacks as a reporter for Argentine TV station Canal America, reports McClatchy:..
I asked the wife for one or two of these for my birthday:
Pekin duck - Wikipedia, the free encyclopedia
From her responses, I'm guessing my chances are real slim.
Oh well, Steak and Crab Legs for dinner tonight!
Happy birthday Broward...drinks on me.
HomeGnome (profile) wrote on Fri, 6/26/2009 - 4:21 am
I asked the wife for one or two of these for my birthday:
http://en.wikipedia.org/wiki/Pekin_Duck
From the Wikipedia:
Ducks can be tricked into laying eggs where desired by placing a golf ball or similar object in a place where they might normally lay.
Science rocks.
In 1873 nine ducks were exported from China to Long Island, New York
1873, the start of the Long Depression.
You read enough, you eventually start seeing the pivotal dates (and ranges) over and over again.
The Empire State building was started just as the Great Depression began.
No, no, it's Homedad's birthday, I was just posting a song from the "Sheriff John" show, a local kids show in LA in the 1960s.
I should go to sleep.
just downed a flaming B-52 in your honor, sir...
both of us have lived longer than J.C, Elvis and now Michael ...
Are you guys still drunk?
It's my birthday.
No wonder we have these gnomonomics problems.
Pumping denial to the masses, keep them calm,keep them happy, keep them off the streets.
You're sitting at home watching CNBC. It's working.
sorry HomeGnome Alone
my second B52 is on its way... so here's to you!
Slick Dog...
guess no one was interested in a arms dealing - money laundering scheme via an NGO
set-up thru the Vatican...
Citigroup Ordered to Suspend Some Operations in Japan
June 26 (Bloomberg)--Citigroup Inc. was ordered by Japan’s financial regulator to suspend marketing of banking services to individuals for a month, after failing to put in place adequate internal controls to prevent money laundering.
Citigroup Ordered to Suspend Some Operations in Japan (Update2) - Bloomberg.com
They probably just forgot. Could happen to anyone.
2010 is when the IMF FSAP Fed audit is due.
maybe MJ was manic depressive
A lot of things that are prescribed for the hypomanic phase - thinking specifically Klonopin here - are very dangerous to stop taking, as is the wont of someone about to enter their hypermanic phase.
ZackAttack (homepage, profile) wrote on Fri, 6/26/2009 - 11:35 am
A lot of things that are prescribed for the hypomanic phase - thinking specifically Klonopin here - are very dangerous to stop taking, as is the wont of someone about to enter their hypermanic phase.
I think the economy stopped taking its Klonopin.
China Pays Too Much for Oil in Iraq - $16 A Barrel!
China Pays Too Much for Oil in Iraq - $16 A Barrel! | Phil’s Stock World
@ Duke.
Thanks.
Wish I could go fire off some full auto's and a couple of rockets today...
But, alas...
Land of Freedom and all that...
Let the Fascism continue:
June 26 (Bloomberg) -- The U.S. Senate proposal to impose taxes for the first time on “gold-plated” health plans may bypass generous employee benefits negotiated by unions.
Government is picking economic winners and losers...
HomeGnome
and you don't have a pair of tall Khmer ladyboys who protect me like a Praetorian Guard...
in last night's episode one them beat the crap out some girl who said F*** you to me
after I told her I wasn't interested in playing doubles in 8 ball (had control of the table)
was a hell of a fight and I just hung back, no need to get my hair mussed in a sexual/ethnic squabble!
Duke of Con--maybe not, but he's got an old lady that'll kick the shit out of anybody that gets between her and her old man.
Happy Birthday, HomeGnome.......I hope this one is one to remember for you and your family.
Mary-Nam!
@ BSR.
Thanks.
I was looking up Jersey Cows on Wiki last night:
Brown Bessie, the famous champion butter cow of the Chicago World's Fair dairy test, averaged over 18 kg (40 pounds) of milk a day for five months, and made 1.3 kg (3 pounds) of butter a day several times.
Jerseys on average produce about 50lb of milk per day.
WOW!
@ Duke
You run with an interesting crowd...
FT.com / Europe - Exporters warn of German credit squeeze
Exporters warn of German credit squeeze
Germany’s powerful export industry is warning of a credit squeeze in Europe’s largest economy even after the European Central Bank’s injection this week of one-year liquidity into the eurozone banking system.
The German BGA exporters’ association on Thursday forecast a “dramatic deterioration” in credit conditions in coming months, which would result in “massive financing squeeze”.
...
The severity of continental Europe’s recession was underlined on Thursday by a 35.5 per cent fall in eurozone industrial orders in April compared with the same month a year before, reported by Eurostat, the European Union’s statistical office. That was the steepest such fall since records began in 1996. Germany reported a 39.5 per cent drop.
40%! Depression-style numbers.
Like to keep it interesting... always hated that move in a bar back in the day
'hey,can I buy you ladies a drink?'
but ones personal security detail is a different story indeed
Our Jersey is a mix. She also came to us with one quadrant dry (use of only three teats). She puts out about three gallons of cream rich (25%) milk everyday and is a delight to have.
Duke:
but ones personal security detail is a different story indeed
My personal security detail consists of four extremely furry and humorous felines, and my predilection for running away.
you can have credit which is payable. It just can't be compounded interest over
anything of a long time. Compound interest over a long time simply
can't be repaid. It is not a good map of the world of possible future thing.
I think it's why some religions ban interest. It is observed to be a BAD THING
over a long time, and religions typically last a long time and observe this.
However banning interest is impossible too. It's unfair.
I suggest a regime of simple interest; short term compound interest, or
compound interest only allowed at a very low interest rate--say 4 1/2 %,
or a combination of same.
Power law math should be strictly limited when it comes to human beings.
We reproduce power law-wise because if we didn't evolution would have
eliminated us. The visits of the Black Plague, and revisits every 20 years or
so for 300 years smashed overpopulation and kept Western Europes population
low for the whole time. If we didn't power law reproduce, we could have been
wiped out right then. And prolly lots of times in pre-history.
Evidence of unintelligent design, unless pain & suffering is what you want
to maximize.
LawyerLiz,
had not the Church changed its stance on usury Florence would not look like it does today...
that's where double ledger accounting started, I believe
no pain no gain
apologies
Black Star Ranch (profile) wrote on Fri, 6/26/2009 - 5:08 am
Our Jersey is a mix. She also came to us with one quadrant dry (use of only three teats). She puts out about three gallons of cream rich (25%) milk everyday and is a delight to have.
Well, that straightens that out. I had thought they were called sectors
Just kidding! Congrats on the Jersey.
had not the Church changed its stance on usury
Be careful not to confuse "What the Church says people should do" with "What the Church itself does".
Corruption in Capital City, USA
Rangel Trips Under Investigation - CBS News
@BSR
I know Milkshake is a Jersey; what's the other ones' name/ breed
Goood moorrrning Mary-Nam!
So, what's a finance survivalist to do today? Ignore Asia, cruise some currency movements, see where Yerp ends up, check the CR board. Drink much coffee. Get onto and off of the Red Line vertical and warm, not the opposite.
Looks like a plan.
C
KB Home Q2 revenue down 40% to $385 million
Happy Birthday, Gnome!
Belle is part angus I believe - a beef cow. She just had her first calf three weeks ago. This "cow thing" is fairly new to us. With three teenagers, the Mrs & I drinking milk, we were going through 2-3 gals a day. One day I spouted off 'we may as well own a damned cow' and the rest is history. Helluva lot easier than milking goats or snakes for that matter.
Thanks Liz
Alright, gotta go do some birthday stuff...
Hold down the fort.
Later all.
Black Star Ranch (profile) wrote on Fri, 6/26/2009 - 5:08 am
Our Jersey is a mix. She also came to us with one quadrant dry (use of only three teats). She puts out about three gallons of cream rich (25%) milk everyday and is a delight to have.
Did you figure in a 25% vacancy rate when calculating her cap rate of return?
Futures skying...... looks like an Elmo day!
I think that the church meant any kind of interest, but I suspect there were
interesting details. I am trying to limit interest to the point where it is actually
payable, which would benefit both creditors and debtors.
not to put too fine a point on it, but the buck is under 80 without a reliable support price anywhere close
Buffett talking about laws..
Warren Buffett says Apple may have violated the law in not disclosing Jobs’ illness
http://www.geek.com/articles/apple/warren-buffett-says-apple-may-have-violated-the-law-in-not-disclosing-jobs-illness-20090625/
Jun. 25, 2009 (8:44 am) By: John Brownlee
Abundantly clear in the aftermath of the news that Steve Jobs underwent an emergency liver transplant last week is the fact that Apple has been downright secretive and dishonest about the health of their CEO. It’s certainly not debatable that Jobs illness is sad, and public scrutiny during such times must be trying for him and his family, but the question remains whether or not Apple was ethical in keeping the state of his health from investors.
One big voice in the finance community certainly thinks it was sketchy: Warren Buffet. In fact, according to the head of Berkshire Hathaway, Apple’s failure to disclose Jobs’ illness to shareholders might be more than sketchy: they may very well have violated the law.
Personal Income - M/M change 0.5 % 0.4 % -0.2 % to 1.3 % 1.4 % Actual
I can't get all upset about Jobs not wanting to disclose his condition.
I don't care if it's material.
"America’s biggest oil companies will probably cope with U.S. carbon legislation by closing fuel plants" - makes sense to me. There's Cap & Trade for you. Just another scam to allow bankers, financiers, and pols to trade.
What part of Jobs going on extended medical leave wasn't enough? Of all the blatantly illegal misrepresentations of financially relevant information Buffet is worried about this? Oh, I see. Buffet is used to be on the winning side of inside information exploitation.
Of all the blatantly illegal misrepresentations of financially relevant information Buffet is worried about this? Oh, I see. Buffet is used to be on the winning side of inside information exploitation.
Providing Insider info will soon be a legal duty to the first tier of financiers. As soon as it gets bad enough.
damn....THAT headline sure changed. "Spending Increases Due To Unemployment Checks" to "U.S. Consumer Spending Rises, Incomes Jump on Stimulus Checks"
The May income numbers are much worse than the headline numbers. Why? Most of the big increase is the result of government transfers.
From the BEA release.
Personal current transfer receipts increased $162.6 billion in May, compared with an increase of $59.1 billion in April.
The American Recovery and Reinvestment Act of 2009 provides for one-time payments of $250 to eligible individuals
receiving social security, supplemental security income, veterans benefits, and railroad retirement benefits.
Private wages fell $12.9 billion. Government debt is not a substitute for a vibrant private sector.
Off to work. Happy Glooming.
I've lost all respect for Buffett. He was first in line for the government bailouts. He's even become a CNBC cheerleader.
Cheerleading the biggest swindle in history is a sure sign of a kleptocrat. Buffett is a phoney. If he and others were managing capital efficiently as they claim, these bubbles nevver would have happened and the bailouts wouldn't be necessary.
Buffett is an inflation gatherer. He would perish if creative destruction were allowed to occur. Buffett wouldn't exist without inflation.
WASHINGTON (MarketWatch) -- U.S. personal incomes jumped 1.4% in May due to one-time $250 payments to Social Security beneficiaries as part of the stimulus program, the Commerce Department reported Friday. Consumer spending rose 0.3% in nominal terms. The results were in line with the consensus of economists surveyed by MarketWatch. With the boost to incomes, the savings rate rose to 6.9%. Excluding the one-time payments, disposable incomes rose 0.2%, the government said. Wages and salaries fell 0.1%. Real consumer spending (adjusted for inflation) rose 0.2%.
The banks that are "too big to fail" are too risky to break apart or put into receivership.
Yet, banks should not expect to receive money. Precisely as they have in the past - what
malarky!
Individuals that have loans should be accountable. But, not banks that get their debts paid
or forgiven by the government.
No regulations are proposed to break these institutions up so they're no longer too big to
fail - just more watching them - but, wasn't Geithner the guy watching them before as head
of the NY Fed? Doubletalk and lies.
Obama has no intention of installing meaningful controls. He's just giving bankers full
control. Replace Obama at the next opportunity.
he's right: Financial Opinions Updated Daily iamned.com why aren't our voices being heard by Washington?