Daily Show, A Lonely Condo Owner and the Market
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CalculatedRisk on Thu, 07/30/2009 - 12:07pm (280 comments)
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we're getting a nice lesson in geometric returns!
OT:
Don't forget to cast your vote in the BFF poll at the polls link.
and winners don't forget to hit the tip jar!
But, of course, the linked newspaper article just HAD to end with this quote:
“We did not foresee, nor did anyone else foresee, the collapse of the real estate business and the concurrent collapse of the lending industry,” McCoy said. “They’re caught and we’re caught.”
Sing that Hoocoodanode, brother! Sing it strong! Sing it loud! Sing it proud!
Gotta luv this title:
Microsoft's Prison Yard Conquest - Page 1 - The Daily Beast
Excerpt:
Yahoo is merely hooking up with the most alpha male company it can still find in order to survive. Microsoft will soon turn Yahoo into its prison bitch, and this won’t be pretty.
GDP prelim and BFF - lotsa ways to KNURD tomorrow!
Yes, sir, that's some solid performance.
NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET - News) today reported a second quarter 2009 net loss1 of $1.4 billion, or $1.74 per share. The net loss reflects net realized gains and losses, including derivative losses of $1.8 billion, after income tax, of which approximately $1 billion, after income tax, was due to the improvement in MetLife’s credit spread in the quarter.
...
“MetLife generated strong revenues and operating earnings in the second quarter, as we again demonstrated our ability to deliver solid performance in an uncertain economic environment,” said C. Robert Henrikson, chairman, president & chief executive officer of MetLife, Inc.
It's not so hard....just put your hand up and I'll bang the bangy thing!!
Mook. yeah ... I was singing the song .... that guy wrote the the lyrics to the first verse:
"We did not foresee,
nor did anyone else foresee,
the collapse of the real estate business
and collapse of the lending industry."
And then the refrain starts ...
Hoocoodanode?
Hoocoodanode?
....
best to all
Met cosnensus 11.7bn rev/0.68 EPS vs, operating Eps $0.88
MET halted?
Love this quote from DIS CFO:
"Local ad markets remain toughest"
The irony dripping form that just defies description.
Ciao
MS
About profits:
Wall Street Analysts Keep Telling Big Earnings Lie: David Pauly - Bloomberg.com
Excerpt:Stock analysts continue to promote corporate earnings lies, insisting that net income isn’t really what investors need to know.
As for the firefighter in the Ft. Myers condo: pretty sweet to get a second home costing $430K to prep for a retirement at 49! Perhaps he had a little help from his wife affording all this high living?
DIS @ $26+ is priced for ESPN
ROTFLOL! ! ! ! ! Thanks for that video CR.... I'm in stitches...
..............
He could just lower the asking price right? Or is he not allowed to because it would show weakness? On a more positive note Timmay does wear hooded sweatshirts so he moved up quite a bit in my book... (Thats not worth all that much tho....
)
MET BVPS up %$5 q\q to $30 -- whew for those VAs
This is a life insurer--they're not going to be crushed by poor operating earnings, they're going to be crushed because their investment portfolio turns sour.
"DIS @ $26+ is priced for ESPN "
And it wasn't at $20? or 18. I don't see your point.
Ciao
MS
On a more positive note Timmay does wear hooded sweatshirts
It looked like a "Members Only" jacket to me.
Nice graph:
Map: The Spread Of Unemployment - Forbes.com
That swath through Western Alabama is the area around Tuscaloosa where much of the local auto industry is located.
Looks like Scone wasn't kidding when she said things were tough in Oregon.
We knew Detroit was in trouble, but it looks like they're taking the surrounding areas in Indiana and Ohio with them.
I think the insurers are like the pensions funds... Covering losses with their fingers crossed in hopes this all blows over.... Heck the way it looks now it might just.... (granted we still have a ways to go)
Erin Andrews nudie video is out now, it's helping Disney's stock.
Yalt (profile) wrote (in reply to...) on Thu, 7/30/2009 - 4:25 pm
This is a life insurer--they're not going to be crushed by poor operating earnings, they're going to be crushed because their investment portfolio turns sour.
My wife and I just got another letter from yet another shareholder lawsuit against these guys. That could affect them as well, though only the lawyers will end up benefiting.
Well apparently the big Bank of America evacuation here in Fort Worth yesterday, was caused by--wait for it-- not natural gas or carbon monoxide but a co-workers perfume...this is what sent seven people to the hospital yesterday.
and in other Bank of America news:
Bank of America plans China subsidiary-sources
LOL - I had to look that up...
I just hope that no hurricanes hit the continental US this year. I don't want there to be any excuse other than managerial failure when the big insurers start going under and get bailed out.
Poor Victor the Condo Owner.
I think a client of Miami bought in Oasis. I told him to walk, but he didn't want
to lose his deposit. I'm afraid to look & see if he's the one.
Regarding the Market portion of this mishmash post...
Might want to take note of the fact that neither Treasurys or Gold are really buying into the reflation rally.
Those markets refuse to price in the prospect of inflation, or a resumption of growth from monetary stimulus. They seem to be contradicting the stock market rally... Unless you believe the authorities are entirely controlling the price of Treasurys and Gold...
yalt
i think everyones portfolio is toxic not just sour. everyone ibanks,cbanks. ins everyone ,
Liz,
Have you seen this?
It's not the companies themselves that are going to be hurt by these shareholder lawsuits, it's their D&O carriers. Rates are down, claims are up, and unless this market levitation is permanent we haven't seen the last of it yet.
But the legal process is slow and it'll be quite a while before any losses are recognized. I doubt anyone will be missing on the high side with their initial reserves.
Vonbek777 (profile) wrote on Thu, 7/30/2009 - 1:28 pm
reply ignore user
Well apparently the big Bank of America evacuation here in Fort Worth yesterday, was caused by--wait for it-- not natural gas or carbon monoxide but a co-workers perfume...this is what sent seven people to the hospital yesterday.
and in other Bank of America news:
Bank of America plans China subsidiary-sources
I've tried passing off my farts as perfume and it never works.
Hung out with my Buddy at BofA, Merrill lynch is only unit making money, some genius is trying to instill 6 sigma on the ML trading desks while implementers are trying to explain why that works in retail but not at the trading desk.
Friend is losing confidence in management quickly, big turnaround from 3 months ago.
No. hahahahahahhahahah.
Are they steel toed?
Must check to see if Ken gave us any other gifts.
lawyerliz (profile) wrote on Thu, 7/30/2009 - 4:35 pm
No. hahahahahahhahahah.
Are they steel toed?
Si senorita
trying to get cup of coffee.
Not to bring up the health care debate again (heaven's NO)...
The Automatic Earth: July 29 2009: Forever Blowing Bubbles
Healthcare: That's Gonna Leave a Mark
07/29/2009
By Chip Hanlon
I reported earlier today over at Red County how rumors were swirling that the Healthcare bill was alive and well in the House (h/t Erick Erickson, Redstate.com). Sure enough, we're finding out it's true.
Since I completely agree with last week's assessment by Larry Kudlow that the market was rallying on the belief that healthcare was dying, I now believe this about-face will effectively put a lid on the stock market for the summer.
Most investors realize this is an economy-killer. We can also know with certainty the CBO will again understate the true cost of any reform because of it fails to score increased tax hikes and other fees dynamically. In other words: the market will not be fooled.
http://www.deltaga.com/market-commentaries/healthcare-thats-gonna-leave-a-mark.html
You decide.....will this be the start of the next leg down? Was this the news that quelled today's rally?
The least banksters can do is ask their borgs bid up the house of their savior.
Several
s for the steel toed 
.
Here's the report that we've been waiting for! The report of bonuses paid by bailed out banks...
Bankers Reaped Lavish Bonuses During Bailouts - NY Times
Here's something one Chinese growth:
The Simple Math of “Staggering” Chinese Growth
By Vitaliy Katsenelson
Chinese non-export economy grew 23% in June! Before you start googling for that number, let me warn you. You won’t find it. I’ve computed it using fifth grade math.
Here is what we know: exports constitute about 35% of the Chinese economy and they dropped over 20% in June, while the Chinese economy (GDP) grew 8%. So the “X” is the growth rate of 65% of Chinese non-export economy.
0.35 x (-20%) + 0.65 x (X%) = 8%. If you were to solve for X you get 23%.
Enough with math, let me put this number in perspective. Chinese non-export economy grew at 3 times the rate of their GDP. I only have two, very contradictory, explanations for this:
1) The Chinese government is lying through its teeth about its economic miracle growth. It has the incentives to interrogate economic data until it confesses to the party line numbers. This is very plausible, as for months, the Chinese government was showing positive GDP growth while its consumption of electricity was declining. Obviously this doesn’t make much sense. Also, China is not famous for production of intellectual type goods (i.e. software, creation of toxic financial products – that is our specialty) which scale a lot better and don’t require proportional electricity consumption to grow GDP. China makes stuff and to make stuff you need a lot of electricity. Also, even if the growth is completely driven by building high story buildings (even if they collapse), highways, schools - these activities still require a lot of electricity.
2) The numbers are real, the monetary base was up 28.5% in June (again if you can trust that number) and thus the quality of growth is horrible. I’ve discussed this scenario in great detail.
I hate to leave on open-ended note, but only time will tell what is actually going on in China.
404 Error! Page Not Found | Vitaliy Katsenelson Contrarian Edge
Check out the news. Obama didn't sound too rosy about the GDP number coming tomorrow. Said that we stepped back from the precipe but that the economy has slowed down again in the last few months.
Haven't used the
yet...let's see...rip off Jackie DeShannon song...what the world needs now, is 
sweet 
, it's the only thing, that there's just too little off....
traderwalt (profile) wrote on Thu, 7/30/2009 - 4:40 pm
Here's the report that we've been waiting for! The report of bonuses paid by bailed out banks...
Bankers Reaped Lavish Bonuses During Bailouts - NY Times
More on this:
Bonus Report Say What We Already Know | Banks | Financial Articles & Investing News | TheStreet.com
I really need to get back to work, but spent the whole day, researching foreclosure issues,
mediating (almost) a foreclosure, and advising on a new foreclosure. And I'm tired.
Oh, and trying to attend a foreclosure which was cancelled 'cause the calendar is full.
I am the home owners assn, and it's an old people reverse mortgage, which is triggered
when the owner dies, and they foreclosed on the basis that she is dead, and guess what,
she's not dead yet!!
Did I tell you guys about that one yet.
New client (hasn't given $$ yet) apparently got a stated loan. He claims he has
no idea how they got the income amount, 'cause he never made that much. And now
he makes less, he's in the bug killing business, which apparently even in Florida,
isn't recession proof. I guess they just fed in the number they needed and multiplied.
Oh, it was Countrywide.
Anyone heard if they are going to open any Leftys Brewski tonight at the White House Picnic Bench Summit? Its local, ( made in the basement ) and fresh (night shift). we even calibrate it ( new bottles) on request. Everyone at Harvard drinks it.
Algos running amuck at Treasury
In the last 10 minutes we’ve received over 25 emails from the US Department of Treasury. It appears as if something has gone seriously wrong with their email distributions.
The emails all appear legitimate. They’re about some boring things--such as the official release of a photo of Geithner and Maliki—and some interesting things—such as the legislation for credit rating agency reform submitted to lawmakers. But there are way too many of them. And some of them have datelines going back a week or so.
We’re intentionally on a couple of Treasury Department email list. But we’ve never seen anything like this. It’s like someone just decided that transparency means that every document produced by the Treasury needs to be emailed to its distribution list.
Something has definitely gone wrong at the Treasury Department.
pissed off - i bet its a number greater than zero...
Yalt - I left you a few links on the last thread re prime vs sub
Forget about worrying about hurricanes affecting the insurance industry. Every one of the major insurance companies is bankrupt right now and taking TARP. That's why it's so odd that congress and their constituents are worried about paying for healthcare reform. These insurance companies are going to bribe the congressmen to the tune of over a billion dollars in lobbying money to make sure there is no public health insurance in an attempt to recapture their wealth. But no need to worry about the insurance industry regaining their health as 50% of hospitals are now operating in the red and more to come. It's just a matter of time before Americans will be crying for government healthcare since in a couple of years, 98% of them will not be able to afford the premiums for private healthcare as health costs rise from the rising uninsured. You can pay me now or you can pay me later. And does anyone really believe the media when they say that 45 million Americans do not have health insurance right now. In 2002, there were 42 million uninsured. There's gotta be at least 90 million right now with no insurance causing all the hospitals to go red.
President's Working Group on Financial Markets (PPT) has done an outstanding job promoting prosperity for America and Americans. Hurrah!
stocks rallied because more people are using their credit cards to pay for shit! ROFLLMAO!!!
U.S. Stocks Rally, S&P 500 Nears Nine-Month High, on Earnings - Bloomberg.com
"Visa Inc., which runs the No. 1 credit-card network, gained 1.5 percent to $67.80 after it also topped projections with more consumers paying bills with credit, charge and debit cards."
"Something has definitely gone wrong at the Treasury Department. "
Someone has to say it......
This is news?
Ciao
MS
It's not going to take years, if the piggy flu goes full throttle this fall.
bearly (profile) wrote on Thu, 7/30/2009 - 1:48 pm
reply ignore user
President's Working Group on Financial Markets (PPT) has done an outstanding job promoting prosperity for America and Americans. Hurrah!
Uncle Hu sent his personal compliments I hear. (:
bases, I don't know Obama sounded like he was lowering expectations IMO.
ShortCourage (profile) wrote on Thu, 7/30/2009 - 4:32 pm replyIgnore userRegarding the Market portion of this mishmash post...
Might want to take note of the fact that neither Treasurys or Gold are really buying into the reflation rally.
Those aren't on Ben's list of assets to be inflated. Want to guess what is on his list?
Amongst companies reporting earnings today, 140 (out of the 210 companies for which I have YoY revenue data) reported a revenue decline. There are about 30 for which I don't have data...
If anybody's interested, I can post the "More than 25% Revenue Decline" club for today... There are about 45 of those.
Oh, great, they can't afford to pay, are charging. And this is a good thing?
Of course GDP # tomorrow will be bad, last year the 1st rd of "stimulus checks" had gone out, while current rd of "stimulus" spending had barely started kicking in.
It's the "bottom" most likely, the question is how much below last year. -5% YoY or less and they'll be partying like it's 1999.
New question is if they can get ahead of state & muni layoffs, otherwise Q4 GDP has a chance at being under zero. Q3 should be zero to +.3 range.
Leftys Liquors Lubricants and Tarp and Bank (profile) wrote on Thu, 7/30/2009 - 4:45 pm
Anyone heard if they are going to open any Leftys Brewski tonight at the White House Picnic Bench Summit? Its local, ( made in the basement ) and fresh (night shift). we even calibrate it ( new bottles) on request. Everyone at Harvard drinks it.
Story is it's Bud Light. Good to hear about Harvard; my daughter wants to go there, but I think it's a bad idea.
MOT earnings up 550%, EPS misses by a penny.
comrade - they dont report it as YOY. It's a Seasonally adjusted annual rate number, meaning, growth from q109 to q209, annualized. So what happened in q108 isnt particularly relevant.
Ask us about out Student Loan Program.
MS (profile) wrote on Thu, 7/30/2009 - 4:49 pm
"Something has definitely gone wrong at the Treasury Department. "
Someone has to say it......
This is news? Wink
Ciao
MS
If the Treasury Dept. has a virus one their computers, then it might be news.
Take a name,
Actually Treasurys are on the list of assets to be inflated. Houses, stocks and Treasury bonds.
Two out of three ain't bad!
Actually, they're succeeding to a great extent on housing too, by virtue of keeping T yields down... Otherwise, house prices would have collapsed much faster and further by now.
don't forget the hedonic component. the average microwave zaps burritos 20% faster than a few months ago.
Re: stocks rallied because more people are using their credit cards to pay for shit
Interesting: (based on memory) I just don't see how the slight drops in retail sales is matching - in any way - with the large drop in income-tax receipts. You'd think that if YoY income-tax-receipts are off 10% then that would translate into 10% less income which might translate into (something around) a 10% drop in total retail sales. It seems to ME tho that retail sales have been - in total - just drifting sideways (more or less).
So, maybe the peasants ARE just making it up with Credit Cards. Hell why not, it's an unsecured loan; may as well max them out.
cinco-
Pretty sure they already had one....it's called deficitis...
Ciao
MS
Right - who says banks aren't lending? They lend up to $25,000 @ 29.9% and a $60 monthly minimum.
"Ask us about out Student Loan Program."
Ok I'll bite.....love to hear what the repayment terms are....
Ciao
MS
@NOTaREALmerican
well. in an environment with rising unemployment, untenable debt loads, and rising credit card defaults, this would appear to be B-A-D news to me!
edit: future default losses could very exceed current fee revenues
Hacking the Treasury? Maybe those darn North Koreans are at it again. Or maybe China is using 'aggressive negotiations'
MS (profile) wrote on Thu, 7/30/2009 - 5:02 pm
"Ask us about out Student Loan Program."
Ok I'll bite.....love to hear what the repayment terms are.... Smile
Okay; me too......
Its a good thing that they have found a new way to calculate GDP otherwise I'd be worried about the impact that all those companies with a 25% revenue decline for the quarter would have on the number.
By the way, the new GDP calculation formula is = the negative of the % change in the S&P on the day prior to release. So Q2's GDP will be a negative 1.19% on an annualized basis.
Vonbek777 (profile) wrote on Thu, 7/30/2009 - 5:04 pm
Hacking the Treasury? Maybe those darn North Koreans are at it again. Or maybe China is using 'aggressive negotiations'
I just love starting rumors-
Your tax dollars at work...
At least 4,793 bankers and traders were paid more than $1 million in bonuses last year even as profits at the biggest banks dwindled and they accepted tens of billions of dollars of taxpayer money, according to a report released on Thursday by the New York attorney general’s office.
Bankers Reaped Lavish Bonuses During Bailouts - NY Times
Why does Cuomo hate America?
if only direxion ran the government instead of GS - now THAT would be fun....
MS (profile) wrote on Thu, 7/30/2009 - 5:00 pm
cinco-
Pretty sure they already had one....it's called deficitis...
Ciao
MS
Good one; you got me! I HAD to go and google it, and was perplexed to only fine stuff like:
Abstracts: The deficit virus. Structural change and adaptation. Welcoming change - Business, international
Not sure about the treasury, but the hacking of government sites is an ongoing day to day head ache currently. There really is a massive penetration going on...makes me wonder what is going on in the state and business side of things.
“We did not foresee, nor did anyone else foresee, the collapse of the real estate business and the concurrent collapse of the lending industry,” McCoy said. “They’re caught and we’re caught.”
Anyone who can say this today with a straight face needs to have their vocal cords cauterized and their fingers super-glued to their hips so they can't get near a keyboard.
Re: B-A-D news to me
That's because you are a pessimist. Who knows, this could go on forever. More people lose their jobs, more people use Visa, Visa stock goes up, people feel better, insurance company portfolios are better, 401k's go up, people are happier, happiness translates into more Visa sales, whose stock goes up, etc...
This is Merica, looks at the optimistic side of life. Always look at the bright side of life, ta-da, ta-da-da-dA-du.
Wonder why Obama doesn't drink his home town beer Primo?
Vonbek777 (profile) wrote on Thu, 7/30/2009 - 5:08 pm
an ongoing day to day head ache currently. There really is a massive penetration going on...
YEs, GS and friends are really "puttin' the wood" to us......
Why does Cuomo hate America?
You know how those liberals think ! They don't love freedom and democracy and freedom like we do, n evil-doers, n trrrrsss.
Always look on the bright side of life...
Johnny doin Carnac:
Whats Really News, Really Screwed, and Really Shining the Shoes...
*opens letter
reads
The Daily Show, A Lonely Condo Owner, and the Market
Dr. Cinco,
I am on the couch, should I talk about my childhood first?
Thanks, Nades. The problem is I don't know what definition the Hope Now folks are using. I had clients that called anything that wasn't B or C "prime". Come to think of it, I had a client that called any borrower that hadn't gone bk in the last two years "A".
I could probably figure it out when I get the time by comparing their numbers to other sources on total loans of each type.
regarding Obama's choice of Bud Lite.....makes me think he's pandering to a certain ethnic group a bit south of us.
Say it with me "bod liiiih"
Ciao
MS
Vonbek777 (profile) wrote on Thu, 7/30/2009 - 5:12 pm
Dr. Cinco,
I am on the couch, should I talk about my childhood first?
In a calm, gentle voice: Do you think you should talk about your childhood?
Whenever you're tempted to believe anything coming out of Larry "let's do rails" Kudlow's mouth, just take a deep breath, count to 10 and go have a cup of coffee. And then do the exact opposite of what he says. You'll come out way ahead...
Victor the Condo Owner?
Alms for the disadvantaged?
MS (profile) wrote on Thu, 7/30/2009 - 5:13 pm
regarding Obama's choice of Bud Lite.....makes me think he's pandering to a certain ethnic group a bit south of us.
Say it with me "bod liiiih"
Ciao
MS
You must be a yuppie; you're confusing Bud Light with "Billy Beer", or "Red, White & Blue"
You never had rock gut unless you had J.R. Ewing beer!
This is bound to turn out badly. Why can't they each drink their preferred brand? Two out of three people are going to be disappointed.
McAfee profit slips 40%, but tops Wall Street views
Iron City was pretty nasty.
All I am saying is that in this one choice of beers Obama has hurt his credibility more than anything else this year. Mark my words, this will haunt him. Had a real chance to show us what he was made of, and he went with bud light. People expect more from our president than bud light...but it is a fitting metaphor on so many levels...
Vonbek777 (profile) wrote on Thu, 7/30/2009 - 4:19 pm
People expect more from our president than bud light...but it is a fitting metaphor on some many levels...
Duff would have been a better choice.
...Or Brawndo.
but it is a fitting metaphor on some many levels...
Nominated for QOTD.
He should have gone with a GnomeBrew!
So if they were drinking Depth Charges, what would they use?
No way... Hes a man of the people picking America up... and there is nothing more American than an ole BL....
/end snark
We've talked about this before...
FDIC Plans to Split Up Failed Bank Assets to Attract Bidders - Bloomberg.com
July 30 (Bloomberg) -- The Federal Deposit Insurance Corp. plans to sell assets of failed banks in pieces, separating bad loans from performing assets to lure potential buyers seeking to take on risk and gain government help with losses.
“FDIC staff has referred to a ‘good bank/bad bank’ model described as the sale of the failing bank’s better assets wrapped with loss-share coverage to another bank and the sale of the ‘bad’ assets,” into a limited liability company, spokesman Andrew Gray said today in an e-mail statement, adding the agency now plans to proceed with such sales.
---I"m thinking we're going to get a BIG FAIL tomorrow!
More bonuses....your tax dollars at work.
The federal government has rewarded Missouri with millions in performance bonuses in recent years for the state's high rate of people using food stamps.
DSS got a $2.68 million bonus for making the program one of the most accessible in the country during the federal government's 2007 fiscal year.
The agency received an additional $1.3 million for having the third best rate for processing applications in a timely manner .
And, there's more. The 20 hour a week work requirement has been removed under President Obama's $787 billion federal stimulus program, until Sept. 2010.
News-Leader.com | Springfield | Springfield News-Leader
The media refuses to level with Americans about healthcare and its costs. It's all very simple. The disparity between the cost and the ability of Americans to pay for it is due to GLOBAL WAGE ARBITRAGE. The last vestiges of American properity are in the drug and healthcare industries and in the universities. Those in these fields felt that their income would not suffer, but lo and behold, they are all crumbling from debt overload from those defaulting on their loans and who can't pay for their services because their incomes were destroyed by GLOBAL WAGE ARBITRAGE. Obama and the elites he works for ( Goldman Sachs) realize this and want to borrow the money from foreigners to pay for this stumbling block to the global economy. Frankly, when will the media tell the people the truth?
Terms are usual, 10% vig /week. If you're late you can meet our payment workout man, Mr. NoNeck.
it just has fake written all over it. If bud light is truly his favorite beer, then I apologise, but this choice like everything else, is a calculated political move...and when a man can't drink his own beer because of politics...the writing is on the wall for all to see.
The Ministry of Truth will tell you no lies...
I totally agree... I wont go near the stuff... and heck its not even owned by Americans any more.... I'm drinking a Victory HopDevil right now... Cant get any good IPAs in Boston..... shakes head....
Don't you like Harpoon, nades?
Anonymous Bosch (profile) wrote on Thu, 7/30/2009 - 5:19 pm
Iron City was pretty nasty.
Those tough steel workers in Pittsburgh needed a tough beer and the end of the day-
Frankly, when will the media tell the people the truth?
To paraphrase nades or was it MS
You ain't from around here, are you, rat catcher?
[edit; busted tag]
Any self respecting Canadian knows that you don't break open a brew. The correct terminology is "Lets go get a 2 4 eh?"
My friend insists on buying Iron City to drink while watching Steelers games.
HomeGnome (homepage, profile) wrote on Thu, 7/30/2009 - 5:24 pm
---I"m thinking we're going to get a BIG FAIL tomorrow!
I think they want to get the big BFFs out of the way before August recess. Otherwise, they'll be discussed non-stop for lack of cover from the CONgress.
Its kinda bland... I had a Harpoon Leviathan.... To die for.... Not commercially sold tho... The standard IPA has fallen out of flavor with me.... No hops....
Gotta run! Laser....
Those tough steel workers in Pittsburgh needed a tough beer and the end of the day-
I hear that Cinco. And it was priced right @ $3/case (back in the sixties)
How about serving "Old Frothingschlosh" (sp)? The beer that glowed in the dark and had the head on the bottom.
Beer? What is this beer? Some barbarian drink eaten with blood sausage?
Fill my cup with Falernian, Marcus, and bring 'round that tray of candied songbirds...
For poic.
YouTube - Strange Brew - Original Trailer
Eh, hoser!
nades (homepage, profile) wrote (in reply to...) on Thu, 7/30/2009 - 5:28 pm
I totally agree... I wont go near the stuff... and heck its not even owned by Americans any more.... I'm drinking a Victory HopDevil right now... Cant get any good IPAs in Boston..... shakes head....
The head of QA for a company I once worked for started this brewery:
Long Trail Brewing Co. - A Taste of Vermont
You might want to check it out-
I don't care what they tell the press corps. From the obvious results the only thing being served at the White House is Kool-Aid.
Sign at White House:
Now serving Distraction Ale.
Good one Bob,
See that is my other problem...does anyone look at the President, and think, now there's a man of the people who I can share a brew with...no disrespect meant, this just wasn't the angle I would have taken...
Kool Aid was invented in Nebraska!
Kool-Aid Days
It was nades poking fun at me for saying the action in DIS stock didn't reflect one ounce of it's report...at all.
Cinco-
I am as far away from yuppie as you can be. I spit on them for fun....
Ciao
MS
Should have invited them to the White House for a
!
Can't stand the stuff myself. Mrs.B likes Harpoon IPA or any IPA. Barack can invite me when they start drinking Glenmorangie.
HomeGnome (homepage, profile) wrote on Thu, 7/30/2009 - 5:38 pm
Should have invited them to the White House for a Currently Smoking Cannibis!
Ummmmmm.....Isn't one of them a cop?
Like that matters, Cinco.
Make of it what you will...
YouTube - Funny Bud Light beer commercial - Good Dog
Ummmmmm.....Isn't one of them a cop?
All the more reason. They have immunity. If a cop does it, it's not a crime ('cause he won't report it.)
HomeGnome,
I wasn't going to go there...trying to be respectful. But wine and cheese...honestly I don't get the impression Obama is a big drinker at all.
Bernanke has printed up over 1 trillion dollars in the last year to buy down treasuries and bad debt. How do I know? Ben told us so. And Ben said that by the end of the year, he will print up another 2 trillion to do more of the same. This money is not the 800 billion in treasuries he "found in the vaults" to swap for toxic waste a year ago last summer. With 80% of the stimulus money still to be spent and probably another stimulus next year, it will arrive just in time for the mid- term elections. And what will the economy look like? Probably like a warm corpse lying on a gurney that receives a large current of electricity, sits up, possibly opens its eyes, grunts and groans, and maybe even says "momma". And what will the uninformed exclaim? He's come back from the dead!
Why was the BFF Poll so conservative? I was going to go all out with 15 or 16 this week.
Maybe they'll be having wieners with their beers...
YouTube - Bud Light Real Men of Genius Mr. Foot Long Hot Dog Inventor
ROFLMAO!!!
Spoken like a REAL -10.
Can you imagine the brain cells expended in the meeting, that you know they had, trying to decide what political message would be sent with each and every potential choice?
"let's see if we choose Coors then the blacks will be on board but the mexicans won't because well they don't like Coors politics....etc"
Someone spent alot of time on this and that is what is truly sad.
Ciao
MS
Anonymous Bosch (profile) wrote on Thu, 7/30/2009 - 2:43 pm
Why was the BFF Poll so conservative? I was going to go all out with 15 or 16 this week.
So far the results are classic gaussian binomial. Just vote for fugedaboutit and be happy you get the spread.
Even better:
YouTube - Banned Budlight 2006 superbowl commercial
kcoop,
where's the brown shoot?
"Probably like a warm corpse lying on a gurney that receives a large current of electricity, sits up, possibly opens its eyes, grunts and groans, and maybe even says "momma". And what will the uninformed exclaim? He's come back from the dead!"
Unfortunately......that's already been priced in. There is a price to pay for pulling demand forward. We just do not know the ultimate cost of that.
Ciao
MS
And Bosch, if you win; don't forget to hit the tip jar.
Ken and CR deserve it.
Aren't you guys ever satisfied?
I'll put one up later.
Re: And what will the uninformed exclaim? He's come back from the dead!
That's the plan. It's worked so far until now. NEVER underestimate the peasant's stupidity OR `merica's optimism.
Cinco,
I can't breathe, man.
I can't breathe!!!
kcoop,
Just kidding, thanks for all your hard work.
MS (profile) wrote on Thu, 7/30/2009 - 5:47 pm
Can you imagine the brain cells expended in the meeting, that you know they had, trying to decide what political message would be sent with each and every potential choice?
"let's see if we choose Coors then the blacks will be on board but the mexicans won't because well they don't like Coors politics....etc"
When I worked in the beer business, Coors was expanding to east of the Mississippi because they'd PO'ed the gay community out West. Did they ever patch that up?
ken, where is the list of how-to-make the various images?
Huzzah for Ken!
You're amazing. You thought yet of selling these to Twitter? Saves a lot of typing. And can I get a intellectual property royalty?
textual smileys link under the comment box, Hack.
MS (profile) wrote on Thu, 7/30/2009 - 5:50 pm
Unfortunately......that's already been priced in. There is a price to pay for pulling demand forward. We just do not know the ultimate cost of that.
Ciao
MS
No biggie; it'll be paid off in inflated dollars......eventually
This place is fast becoming emoticon heaven. Or is that an oxymoron?
" Always look at the bright side of life, ta-da, ta-da-da-dA-du."
Thank you, Brian.
I remember when you couldn't get a Coors. It was a long time ago.
I just drafted a deed. Almost forgot how.
More goodies from ken???
Speaking of IPAs I'm a fan of Speakeasy's Double Daddy IPA
Dogfish Head makes a couple I like as well ....
MS (profile) wrote on Thu, 7/30/2009 - 2:50 pm
There is a price to pay for pulling demand forward. We just do not know the ultimate cost of that.
Ohhh we know the price. There's a difference between knowing an answer and liking the answer. I've long been of the opinion that half our problems stem from the consequences of the machinations people perform simply because they don't like the answer.
[
== hops?]
My brother was saying that the Dogfish Head 90 Minute Double IPA? is great.
It's been my practice, Gnome, to send Bill a hefty lump sum from time to time to cover my sometimes prodigious bandwidth usage.
HomeGnome (homepage, profile) wrote (in reply to...) on Thu, 7/30/2009 - 5:51 pm
Cinco,
I can't breathe, man.
I can't breathe!!!
You're still better off than the guy under the counter
Hey Gnome, I liked it when it was more freeform. Let it be said that I was
going for 8 and there was no 8 there.
You all could learn a lesson from Bosch.
Me too, I guess.
Harpoone 90 Minute is like the best of both worlds
9% alcohol.
Man Cinco,
I just checked that commercial out too. Completely missed it, I am trying to stop laughing. That was good. I needed a chuckle.
HomeGnome (homepage, profile) wrote (in reply to...) on Thu, 7/30/2009 - 5:55 pm
My brother was saying that the Dogfish Head 90 Minute Double IPA? is great.
With a name like "Dogfish Head", it better taste good, or be a really cheap buzz
Dude under the counter certainly is aware of brown chutes!
RE: "Dogfish Head"
We've all worn the beer goggles once or twice.
Glad y'all liked it-
Ken adds enuf images, we can all communicate in ken-ese ideograms.
By the way, things are loading very slowly.
Gotta run guys, been fun today...must cook dinner...dad's world famous spaghetti here I come...well at least my kids eat it...
"Something has definitely gone wrong at the Treasury Department."
I once visited someone at Treasury who used to go fishing in Tannu Tuva (the People's Republic of Tannu Tuva). I remember how mean the security guards seemed to be at Treasury.
No one could scowl that way except Soviet Security guards. They could have had a scowling contest, and it's anyone's guess who the winner might have been.
Glad to know you are off the "I hate Daddy" list.
HomeGnome (homepage, profile) wrote (in reply to...) on Thu, 7/30/2009 - 5:58 pm
RE: "Dogfish Head"
We've all worn the beer goggles once or twice.
Wink
FOr that, you get:
YouTube - AC/DC whole lotta rosie
"This place is fast becoming emoticon heaven. Or is that an oxymoron?"
It's an oxymoron.
No waterslides, pyro or half naked chicks on stage
and they STILL kick the balls off most bands today...
YouTube - Ac/Dc - Jailbreak(Bon Scott)(High Quality)
Pass the
then reload AC/DC
Hmmm... :oxymoron: Unleash Ken's Creative Team
Ω ?
How do you make an omega?
Probably not on the same side of the graph as most of us here...
Just a guess
"How do you make an omega?"
Start with a pretzel.
"Did they ever patch that up? "
I don't know and I sort of wonder how you would expect me to know that....
Ciao
MS
U+03A9 liz
That stupid chick thing was posted already. She was so stupid it was
embarrassing not funny. It's bad when you are so stupid that you don't know
that you are so stupid that you don't know you should go around with duct tape
over your mouth.
Or you can just drop into your Character Map app and copy it out to wherever... like here for instance.
U+03A9
??
u+03a9
?
Dawg-
When I speak of cost it's not just about price. There are many costs that we will tally that can't be measured in money.
Ciao
MS
geez, guys. slow news day?
Re: geez, guys. slow news day?
Permabear anxiety. If things stay "good" for "too long"... It won't be pleasant to watch.
I must have been delinquent at the time. Maybe I went to sleep for a few hours. I just posted it fairness to the Dumb Blondes stereotype. Won't happen again, Ma'am.
OK. Start>Program>Accessories>System Tools>Character Map
I picked Arial because Comic Sans looked silly. Copy>Paste
How the downturn is affecting the Irish:
St Patrick’s Purgatory has increase in pilgrims as economy collapses - Times Online
gnome-
AC/DC with Bon? Yes...
The last really good album was back in black IMO.
The other guy? not so much.
One of the best live albums ever is "if you want blood....."
Ciao
MS
I would have been tempted to vote Pi, but was precluded. I guess it is slow.
New foreclosees are not even too sad anymore. It's just expected.
And I was going to go with 27 but I didn't want to seem too -11
And yes I am aware Back in Black was not a Bon album....
I remember all the stoner's crying the day Bon died.....
Ciao
MS
Between bong hits and beers, perhaps some anonymous person can provide advice.
Timing chain on '96 Beretta broke. It damaged a valve. 130,000 miles. Repair cost: $1500. Repair or scrap heap? No, not eligible for cash for clunkers, ironically.
Media is reporting that a man in Orlando claims that as he sipped his can of diet pepsi, part of the remains of a rodent was discovered and his attempts to recover the rest would not come out of the can. Pepsi is investigating. Maybe he should stick to beer where the alcohol content would preserve the integrity of any unusual contents, eg, worms. But the question remains, what type of rodent could it be. A rat?
bye bye beretta. Take a picture, it will last longer.
It must be Stockholm Syndrome. Can't take any more, 'specially after 5, and just start babbling.
"But the question remains, what type of rodent could it be. A rat?"
Not a rodent at all; it was a mongoose after the snake that was in the can first.
if anyone knows:
What/Where/When will be the next bubble?
Thanks in advance.
Client of mine fixes up classic cars. His real estate ventures were pretty disastrous,
but people are still buying classic cars. Prices are down, but he is still able to
make money.
However, another client who just fixes cars, ordinary cars, says things are really really
bad. People come by for a quote, and can't afford the repair.
badger-
You've gotten good use out of it.....scrap it. It's not even worth that in blue book. Spend the money on something else. You might get another 10k out of it and then things go downhill fast. 130k on a beretta is pretty good...especially that time frame of production.
Tell it to stay gold....
Ciao
MS
Hahahahahahahahahahahahahahahahaha, Pavel.
"says things are really really bad."
I knew a guy who made his living entirely off the books flipping cars - I'm sure that business isn't what it was a few years ago.
Beretta not that great of a car. 60 degree v6 not my favorite. I let it go.
Coffee and chocolate are allowed a certain (small) percentage of insect parts.
Seems the stuff lies there in a heap for a while and little leggy things crawl in.
HH-
If he had anything to do with muscle cars then ahhhh no not good. The only market that even looks good is really rare european cars. $1m plus.....ironically that exact opposite of the housing market.
Ciao
MS
Re: What/Where/When will be the next bubble?
Trains. (But, don't get me started).
Beretta 96 Replace the firing pin, replace the hammer spring, replace the main spring and buy a couple more magazines.
Oh wait, that's the Beretta 92. Never mind.
The only market that even looks good is really rare european cars. $1m plus
great for laundering ill-gotten gains...
I don't get the impression Obama is a big drinker at all.
Obamas depend on Kool-Aid like sheeple depend on Obamas.
The bubble in the stock market we are experiencing right now.
Re: Timing chain on '96 Beretta broke
I didn't know guns had timing chains? Is this so it can shoot through the cooling fan?
shhhhhh...Liz...don't tell anyone......we're hunting bulls
Ciao
MS
People come by for a quote, and can't afford the repair.
I was going to fix my air conditioning and the quote was $1100.
But six hours later I was rear-ended and totalled.
I can get a brand-new base Ford Focus for $10,500.
OT: Food Contaminates.
I am warning you; so don't say I didn't.
Scroll on down for the nastiness!!!
Firewall Error: Service Unavailable
---I think I'm going to be sick.
Ok, while we are being demanding, and are feeling dull, howsabout a bull and a bear,
.
kenster??
But six hours later I was rear-ended and totalled.
---Bad night of pool?
ROFLMAO!!!
So, whaddya think about trains, NOTaREALmerican
And I've had to resort to reading every third word to keep up due to my reading uh... challenge. Missed the timing chain words.
been lurking, just saying hi!
hi!
Welcome Douglas!
I didn't know guns had timing chains
Some guns do.
http://www.q4o.nl/images/fun/chaingun.jpg
.
damn, that was quick.
Government suspending cash-for-clunkers plan
The U.S. government is suspending the popular cash-for-clunkers program after dealers warned that all of the $950 million set aside for the plan could be claimed in a few days.
---Bad night of pool?
ROFLMAO!!!
My girlfriend will be jealous when she finds out.
Cash for Clunkers gone already? But, but, what about by SUV?
The money is instead being used for CEO bonuses where it rightly belongs.
Welcome Douglas!
"However, another client who just fixes cars, ordinary cars, says things are really really
bad. People come by for a quote, and can't afford the repair. "
I thought car repair was recession proof. But then again, this is no ordinary recession.
How long before the first story about a homeless family given a one-way ticket out-of-town and then a one-way ticket back to where they came from.
Either as pawn or gamer, depending on the rag's slant.
Not a bad deal if the get meals included, yogi.
I guess that cash for clunkers is a
And it got shot.
I thought car repair was recession proof. But then again, this is no ordinary recession.
It's different this time. This recession will neither let up nor end. Short sellers are guaranteed a lifetime of riches. Longs will live in tent cities, hondas. It's a new paradigm
YouTube - AC/DC - Thunderstruck
Had a real chance to show us what he was made of, and he went with bud light.
Bud Light = #1 with wearers of mom jeans.
Too funny Basel....
Good quick catch...
Ciao
MS
$950 million set aside for the plan could be claimed in a few days.
Heaven help that the peasants might get a few crumbs out of Washington. Sheesh! $950M isn't even cab fare in DC.
Re: So, whaddya think about trains,
Dude, like, i'm tellin' ya dude. It CAN'T lose! I say we round up a few billion (remember that dude a few days ago that said he'd came into some doe - yeah - a few billion) or so, and form a Railroad.
We get the AWU to "invest" too. (Like DUDE, this can't lose!) We start buildin trains in Detroit. The companies that build freeways can "invest" too. They need to keep poring concrete right? Hell, they'll be able to re-pore another 125k miles of railroad track (yeah, railroad track CAN be concrete). Nuclur power, gotta have LOTS of electricity (they can "invest" too). THEN, we tell GS to take all these "investment" and (like DUDE, this IS the best part) leverage it 30 times - I'm thinkin' the Chinese will still go for it - maybe the Japanese - they like trains. So, now we've got ALL the currency (right?) and we need (like?) right-of-way? The politicians "know" who's got property, right? So, our cash, their currency? HMMMM?? RIght OF WAY! Start buildin', shovel ready. STIMULUS MONEY HERE WE COME! PAY-OFF-TIME!!!! Dude, this can't lose.
Well, here is a stimulous that works!!!
So it's gotta stop quick.
I thought it was an Onion piece, then I read it and it seems serious.
Cash for Clunkers gone already? But, but, what about by SUV?
WHAT?! The CARS website says there is $779 million left.
Some NADA bozo is claiming it is gone. You really believe a car salesman?!
Someone spent alot of time on this and that is what is truly sad.
No time spent on it at all. Jeese Jackson's kid has a Bud distributorship.
i seriously wish we had invested in maglev as a nation. cool stuff. one of many opportunities squandered during the Oughts.
Which beer choice would have resulted in no ridicule, again?
During recessions many auto repairs are called tow truck repairs. Drive till dead and tow them in. My friends say that is what they are seeing.
"Jeese Jackson's kid has a Bud distributorship. "
I'm sure it is very small potatoes compared to the chicago-mob-dowry one Johnny boy has in Az
None.
sam adams. not light, though - SA light still has a few kinks to be worked out.
Uh...I must be tired, cuz I just dont get that cash for clunker article's math. They said they already lined up 23,000 vehicles since Monday, so about 8k a day, plus the same amount that are in holding. So, 16k per day. Well, if youve got one billion to spend, and the credit is 4500, that is 222,222 vehicles maybe more since it is 3500-4500 depending on the car. So lets say 250k. Which is what they estimated. At the current rate, that would spend the 950mil in about 15 days. Now, since this started, conveniently, in late July, we'll take one third of that total in july and 2/3rd in august. Add in 80k in July, 170k or so in august. That means julys annual sales rate will be 9mil, the usual, plus 80k*12 (annual rate addition) meaning we'll get to about 10 mil. And August will look like 9 mil plus 2 mil, giving 11 mil.....
See......recovery path!!!! 9mil june, 10 mil july, 11 mil august!!!!
Green shoots, scores!
Okay, I bit. Consider me bitten.
What about the air fare for homeless people--it could become a vacation plan
Not mentioning which type is to be quaffed.
Just
whatever kind one likes. Or 
.
But really, maybe the bud reference was spontaneous.
No, I guess not.
Start buildin', shovel ready
Better to IPO it and sell out quick.
The money quote:
"Ken Czubay, Ford Motor Co.’s vice president of U.S. sales and marketing, said many Ford dealers are worried that they will be out thousands of dollars per car if they sell a vehicle to the consumer, disable the engine(edit: of the clunker), and find out later the funding has been exhausted."
Couldn't happen to a nicer bunch of douchebags.
This is comedy of the highest caliber....the whole thing.
Ciao
MS
And yet back on revpar thread one of c&c s green shoots was the following:
"so far 10% of cash for clunkers has been used. Will we get to an 11 million unit pace"
two threads and the other 90% is already gone
Well, if that would lose them money the implication is that the money just
wasn't tacked on to whatever they were gonna sell for anyway. So double the
spending. Better than giving it to GS.
Re: maglev as a nation
Maglev is THE best. Nothing can waste MORE money than Maglev. Those pansy euro-trash trains run on existing tracks and are compatable with the existing rail network. THAT isn't the way Mericans should do it. With maglev EVERYTHING'S new from the ground UP. Plus, the cost is so astromomical that EVEN the defense industry would want to play-ball. When those defense industry pussies see how much money Maglev can waste they'll be begging BEGGING to get a cut. WE'LL be tellling THEM what to do (dude, this can NOT lose with Maglev) I'm tellin ya, with Maglev we could have this country so stimulated it wouldn't know what hit it.
Now of course, after that nice two month BS, we get to September. Same old same old...do we roll out yet more stimulus? Or do we revert back below 9mil? Hmmm....not hard to see what will happen there.
But the other thing is, all this noise, and we're talking 250,000 cars. That means, when all is said and done, that is what we're adding to sales, total, this year. So, we'll go from 9.3 mil to 9.5 million. WTF is the point of that? We're still at stupid low levels.
Glad I'm going to Merritt Island tomorrow, not tonite.
The hub sez the air conditioner is on the fritz. He and the
momster will sleep downstairs on the sofas, where it is still working.
Well, they told us we'd need some new units. . . . 10 years ago.
Tow that dead ac unit away!!!
C4C suspended? WTF
freep.com | | Detroit Free Press
Re: C4C suspended
I heard they were going to use it for Trains now.
How about some cash for clunker acs, hunh, hunh. Only bail out money I'd
ever see.
Oh, Merican, someone is gonna believe you.
Which beer choice would have resulted in no ridicule, again?
Goose Island, Samuel Adams, or Berghoff would have been acceptable. Anchor Steam or Bells - too expensive, smacks of government waste. Far too many other US craft brews have childish packaging with silly cartoon drawings on them to appeal to the adolescent yuppie beer snobs.
I would have also accepted Olde English 800 or Shiner Bock.
well, seeing as how the whole concept is to get some technological spillover from the whole thing, yes. I can think of many, many things which waste infinitely more money than maglev - pointless wars of choice and profit on the other side of the globe being one, backstopping every stupid derivative contract and GSE reckless action in the past ten years being another.
liz: there is a tax credit for energy efficient ac's.
I will tell the hub, thanks Basel.
Re: White House Brew?
Colt .45.
Works everytime.
right, and SA is the only one national enough not seem pretentious. honestly, i should have Rahm's job. I just can't stand swampy DC weather.
It's too Yrpeein, NOTa...
This is a Car Country... for as long as that lasts. h/t Kunstler
Here's a surefire plan The Roads Must Roll
here's the link. the problem is that the mfg tends to eat up the tax credit, sort a like with the $40 HDTV converter boxes.
A problem occurred : ENERGY STAR
Amber Bock
Glad to be
YouTube - Mars Attacks part 8
I'm pretty sure this is NOTaREALmerican @ 4:10...
Before hawking Trains....
Re:well, seeing as how the whole concept is to get some technological spillover from the whole thing, yes
If you're NOT wasting enough, it isn't viable. There has to be graft possiblities for enough people to make it worth it. That's all the American government is now, a conduit of money from the dumbassess to the connected. The KEY is to make sure you've to a straw IN the conduit.
I'll have to watch this at home. youtube is blocked by our zombie firewall.
At one point in the crash, the 25-year return on equities was below the 25-year return on treasuries. When you present the S&P 500 Closing Price graph, how about adding a line representing treasury returns over the same period to see how far back one must go today for equities to better than bonds?
Great, I'm looking forward to 500 FailCo IPOs!
Rey de la cerveza!
i got
!
Also, don't forget the wall-paints for kids' bedroom. Totally mismatched two-tone colors.
I can't believe it!