alert - repost due to evil :pig:

I wrote some more doom fiction. There is no economic content in this post and it is rated R for violence. Background: The grid has failed. The economy has failed. Life sucks for far too many.

sample

We cut through a yard and crossed into the business district. It was a mess. Cars burnt and cars abandoned packed the main road. Trash was strewn everywhere. The businesses themselves were shattered windows, stripped inside of anything worth something to someone somewhere. We stopped long enough in front of a row of shop fronts so Max could put his Zippo to work.

place: American Apocalypse

The small business owners have gone Galt!

Welcome to the new economy, where you are either too big to fail, or you fail.

The U.S. is looking an awful lot like the countries I grew up laughing at.

I wrote some more doom fiction

Ah.. sounds like Mexico
~splat

splat,

But the food is worse...

I am pretty sure gold is either going a lot higher or a lot lower.

You're welcome.

"WLR LeFrak" sounds like a pen name for a six-year-old.

Yay, main street !

If small businesses fail in America it is because they were not good enough. You have to find the flaw in you model and come back stronger. Just like flaws in ones characters must be rooted out so glod will bless you with money and all that comes with it.

sam.2 wrote:

what do small businesses matter in a socialist, centralized oilgarchy anyway?

It's funny tho, how REAL Mericans like to complain about socialists, but Europe is loaded with "small/medium business". There also seems to be less of the corporate-franchise concept there (meaning here: almost everything seems to be really a corporate-franchise and the "owner" aren't really "full" owners). Anyway, don't know for sure... Just observations of "small bidness" in yerp and Merica.

Are yellow-page ads as important nowadays?

Yes. and no. Depends. Many older people still have that "Yellow Page" mentality.
I'm SE and I almost went broke a few years ago trying to salvage what I had. The only good Yellow Pages did for me was to take calls from people looking to whore themselves out @ near minimum wage.

I know several small business owners who are hinting that they may give up the ghost.
Not a lot of loyalty to small businesses any more except for restaurants.

Terry - Thx for that. I note:

Summary – Both the Advance Facility & the Term Notes must be paid in full prior to any
cash distributions to the equity holders

Okay then, does this include admin and operating costs or do they mean profits?mmmm....

I've been doing all my investing based on Nemo's insider information. - rb

That's as good as anything. I bought more PEBIX because it has some Brazil stuff in there and I thought, what with the Olympics and all.... (blows on dice, rolls with a flick)

CR, I take it these are gross job losses not adjusted for any change in the proportion of small, medium, and large firms providing employment?

The few small businesses that have clung on in spite of the box stores breathing down their necks, are in just as bad shape financially as the brobdingnagians, as luck would have it.

Pupfish or moby dicks, it makes no difference...

CR - 1 currency now -yogi brings up a good point. I might also add that business creation is important. How many have started companies...business formation is a sign of potential growth.

As a tiny business ower, things are not good - but good enough. We do real estate property management, fee based.

When I first started out on my own (15yrs ago) I built and grew and hired and grew some more. After payroll, taxes, office space, overhead etc etc, I found that the more I worked to build, the more I paid out. So, I never really earned more. At least not enough to balance the work load, stress and liabiity issues.

Now it is just me and a leasing agent. I work 4 hrs a day, get everything done. I like my clients and most of my tenants. There is much less stress and I earn enough to be happy.

Bigger is not better.

Bigger is not better.

A+

True, so true.

Re: " it's not clear whether small businesses will continue to play their traditional role in hiring staff and helping to fuel an employment recovery."

1. I'll help you sweetie (Dr. Pitts) ... How bout no, because small businesses don't have future cash flow, because wall street flushed away the future with reckless and unregulated bullshit that was ignored by people like you, who were looking the other way, while the cash was ripped off....

• Good one Nemo (opening tag)

Heeeyyyyy Ab-bott. I got a baaaad feelin'.

I'm thinking it's time for the "Merican public to go all in on equities or be priced out forever. Remember how many people jumped into tech stocks near the peak of the dotcom bubble? And how many jumped into real estate near the peak of the housing bubble?

Methinks there are investment professionals instilling fear into their smaller clients to get in on this rally before they get priced out of the market. And that said professionals, while they are buying for the little guys, will be selling for the big guys. Small investors will be the bag holders when this rally ends.

josap,

Makes sense. I was talking to an attorney about a position I thought she should apply for. She has the background, federal judge clerk, White House staff, etc... She told me it isn't worth it. The money just can't pay for the time she would lose with her family etc.

Somewhere a long the line the only true career path was paved with 80 hour weeks. For what? Especially now when people are finding out what that really bought them.

Are there any mortgage people here? My "potential" refi lender wants a $500 rate lock fee and I don't remember paying those in the past. What is that all about?

Funny ucgal, My ads are:

1. Sell your kidney for big money!
2. An ad that states "Makez BiG Moneys wiTH RealzEState
3. Buy a Bazooka at 50% off

but there blue jeans are from Walmart.

If those jeans are the same as the jeans from the mom&pop place, the m/p should have a serious sit down w/ their supplier or kick him/her out the door and find another.
Nova suggested finding the flaw....finding the "difference", inferring quality vs. quantity.

Is it worth it for many people to drive all the way to a Wal-Mart Cargo Station, spend 10 minutes finding a parking spot, another 5 walking to the actual store... Waiting in line for another 10 minutes after you have dodged 20 wild kids that are Ritalin candidates, then praying your car wasn't butchered by soccermom w/places to go fast just to save a few bucks? EVEN if it was APPLES to APPLES?

Personally I prefer my sanity over money.

barfly wrote:

McDonalds in the Louvre?

HA! Less, not none!

Blackwaterwannabe,

Nova suggested finding the flaw....finding the "difference", inferring quality vs. quantity.

I think that was scone. She says smart stuff like that.

Thanks tho

I like what Stihl has done. No sales over the internet, no sales in box stores, and the best quality tools out there, all sold in small stores all over the country.

Juvenal Delinquent (profile) wrote on Tue, 10/6/2009 - 4:44 pm
I like what Stihl has done.

We've got 3 chainsaws 19", 26", 36" a power-pruner and heavy duty weed wacker - all Stihl

I say string her up and then tar and feather her, or is it better to tar her up, then string her up?

And then... put her on a and stuff like that!

Small business. A real shame...

Said the idle employee of a zombie bank. Oh, thanks for the bailouts.

(Just being extra mean and snarky, not serious... well, except for idle employee of a zombie bank part)

Is community organizing a small business? Or a curse on small businesses?

Looking ahead, it's not clear whether small businesses will continue to play their traditional role in hiring staff and helping to fuel an employment recovery.

This largely depends on the nature of the next bubble.

One reason we have such decay with small businesses, is because of the wal-mart-style scale and build-out of corporate BIGBOX monopolies -- which is linked to the policy of zero regulation during the Bush years -- a time when all the little small business shops were run out of business. The homeownership society was fueled by fraud and every BIG business went along for a ride that helped destroy America.....

Walk time

I think Scone was wondering what mom and pops sell jeans.

Consignment shops! heehee. silly but true. Alot of the little mom and pops near where I live do not sell anything that I want. It is all knick knacks, or antiques, or let's soak the tourist things. Being a small rural area there really isnt much call or need for mom n pops to sell everyday things. Goodwill, salvation army, and the consignment shop on the tourist walking area in winchester being the exceptions.

Ohhh splat guess what I saw in the flier for a kids book fair? a book called Splat the cat. I immediately thought of you but the blurb about the book is way to cute, I was picturing something along the lines of bill the cat.

Ohhh splat guess what I saw in the flier for a kids book fair? a book called Splat the cat. I immediately thought of you but the blurb about the book is way to cute, I was picturing something along the lines of bill the cat.

Now that made me laugh
~splat

"My "potential" refi lender wants a $500 rate lock fee and I don't remember paying those in the past. "

A lot of lenders are asking for that kind of fee to prevent you from rate shopping - that is, you lock with them, then if/when rates go down, you walk to another lender.

Ask if it is refundable at closing. A few lenders do this - they charge an "application fee", or "appraisal fee", then refund it against closing costs like title, notary, appraisal, etc.

It should be, as the intention is to ding the rate shoppers, not the people who actually close a loan.

Time to make the snickerdoodles. Toodles guys.

Dead shtick has good points. In my area it is more convenient for me and cheaper and better selection of items to go to chain/big box

glad you laughed splat

NOTaREALmerican wrote:

It's funny tho, how REAL Mericans like to complain about socialists, but Europe is loaded with "small/medium business". There also seems to be less of the corporate-franchise concept there (meaning here: almost everything seems to be really a corporate-franchise and the "owner" aren't really "full" owners). Anyway, don't know for sure... Just observations of "small bidness" in yerp and Merica.

In a franchise relationship the franchisee owns the risk... the franchiser owns the reward. Get it straight.

josap wrote:

Bigger is not better.

Call the guards! There is a subversive among us!

As a scientist who once went the startup route, an unmentioned aspect of the overpricing of executive "talent" is that it has crushed the ability of small companies to transition from garages to 5-50 person operations -- the simple, yet essential, business skills needed are all priced at a level that extract all the value out of nascent companies, leaving no reason for anyone else to bother working hard.

The pricing of the 'talent' is killing the business incubator that was once the shining star of American business. Watch for China to take the lead -- if they can get their legal system to recognize IP, we're in big trouble.

Barley wrote:

Maybe small business has discovered the joy of outsourcing...

Yes Mrs. Smith, your HVAC can be fixed if we send it to China.

That is almost done now - the 'repair' is a sub-assembly they just 'plug' in and the broken sub-assembly thrown away. The sub-assemblies come in boxes - from China.

dryfly wrote:

corporate-franchise concept there

I guess I was looking at it less from the financial point of view and more from the management point of view. Here, anybody can plunk-down a million and buy "a franchise". So, you've got all these absentee "owners". European "small business" are run BY the owner. They are there, in the store (usually with a few kids or relatives or two, too). Not just a lawyer or dentist "owning" a McD and then hiring a "manager".

That kinda thing.

Edit: Which is WHY small stores in europe are closed from 12 - 2. People, amazingly enough, have to go home to give their kids lunch. No managers and high-schools kids running the place full time.

Barley wrote:

CR - 1 currency now -yogi brings up a good point. I might also add that business creation is important. How many have started companies...business formation is a sign of potential growth.

As long as the business start-up isn't a forced last resort kitchen table consultancy. That's just more extend & pretend.

A few? Ha. And don't forget, no UE comp for them either.

Oh, don't get me started.

Juvenal Delinquent wrote:

I like what Stihl has done.
YES! Weed whacker and chain saw, both with the EZ start. It worth it for old people who are tired of yanking the cord and I love not worrying about climbing with a running chainsaw. I can sit up in a tree and start the damn thing without wondering what part of my anatomy I could be missing in about twenty seconds or so. And have the confidence to turn it off as I move around in the tree, knowing it will start back up again.

many RockyR, many. I'm just praising the Lord of Heaven I'm not one yet.

It's hard to beat the dollar menu on price, and unemployed or underemployed people have no choice about quality. Walmart and McD's are 2 sides of 1 coin.

Barley,

That was the story from the YUM 'beat' earlier this evening - IIRC, US same store sales down 6%, ROW down 3% - slight miss on topline, beat on bottom line...

That was the story from the YUM 'beat' earlier this evening - IIRC, US same store sales down 6%, ROW down 3% - slight miss on topline, beat on bottom line...

talking heads on bloomberg radio were talking about what an amazing success this was.

JP wrote:

Run, do not walk, from such "talent". It's just not worth it. Ever.

Not always - sometimes real talent is worth paying real money for. Just make sure they bring real talent and not just impressive resume.

Also - if you can't pay cash for all their 'skills' try to comp them some other way - like better hours & more flexibility. Something non-money related. I knew an ass kick senior tooling engineer who was used to making $120K in automotive [that was circa 1990 - talking real money]. He loved to sail and found the automakers wouldn't cut him slack [like when the Mackinaw Race was on]... he left and went to a small supplier to automotive and took about a 40% cut in pay BUT the deal was 'I sail when I want to sail - and trust me to get the projects done in time' [he did].

@ DCRogers (profile) wrote on Tue, 10/6/2009 - 5:09 pm
As a scientist who once went the startup route, an unmentioned aspect of the overpricing of executive "talent" is that it has crushed the ability of small companies to transition from garages to 5-50 person operations -- the simple, yet essential, business skills needed are all priced at a level that extract all the value out of nascent companies, leaving no reason for anyone else to bother working hard.

I agree you need to hire smart and be frugal to get a product out and get initial customer traction while keeping pretender executive "talent" out of early stage startups but geez what a gross generalization.

The great outdoors & re-education camping...

Wow scone - well, as you know, things aren't quite as bleak here as they are there - yet.

BTW, meant to tell you my college student has a work study job collecting ticks in fairly local areas. She came back the first day and said - I finally found a nice town that even dad would like. I said - let me guess. Hollis. She said - how did you know?

If it weren't for you, I never would have known.

Jesus. Are you serious? Perhaps Nova has a point.... - B

Yep. In Oregon anything and everything goes. The other day I was walking downtown, passed a couple sprawled on the sidewalk doing meth, you could smell it down the block. Then had to hack my way past a couple of spare change entrepreneurs, to a local "mom and pop" restaurant that's in a death spiral because they have cut quality so much. Seriously, get me out of here!!!

Gladys Kravitz
edit: point to scone!

@ Outsider -- you're welcome. I keep that vision of a quiet, clean, orderly town in my head as I try to escape from this here. Oregon was once a wonderful place, now it's going down hill very fast.

And on that sad, unhappy note, .

We had mysterians here over the summer, and they went out east after hanging out, and their 9 years of higher education only amounted to one $9 an hour job offer, somewhere on just the other side of nowhere in flyover, when they tried to work off their cumulative $100k student loan debt, and they keep asking me "how would a jubilee work, exactly?" their ersatz chance at winning the lottery.

They are coming back for the winter, next week...

@ some investor guy (profile) wrote on Tue, 10/6/2009 - 5:40 pm
After 15 yrs consulting with about 18 early stage software startups I can attest that its a numbers game that you try and play smart and fast analogous to today's VC mentality of placing smaller bets in 'let a thousand flowers bloom' investment strategy.

km4: "gross generalization"

I'm interested in your argument -- care to elaborate? I've made mine.

I've now enabled the new Hoocoodanode theme ('Hoocooblue') for browsers that have demonstrated their ability to present it well. The system should automatically switch to the appropriate theme without any intervention on your part. Browsers currently supported are Firefox 3.5+, IE 7+, Safari 4+, Chrome 3+, and Opera 9.5+.

I have also added the ability to specify which theme you want to use for a given browser session. If you prefer the old theme ('Legacy or Mobile'), or would like to try out the new theme on a browser not listed above, select the one you want under Change Theme. Note that this change will not be remembered if you go to a different browser. If you find a browser (or browser version) not on the list above works well for you, please let me know, and I'll add it to the supported list. Also, if you prefer the old theme, please let me know why - ultimately I'd like to phase it out.

As this is the first time we've worked with theme switching, there may be initial hiccups. Please let me know if you experience any problems.

@ DCRogers (profile) wrote (in reply to...) on Tue, 10/6/2009 - 5:48 pm
km4: "gross generalization"
I'm interested in your argument -- care to elaborate? I've made mine.

No argument because I generally agree what you stated so will expound on what I meant by "gross generalization" which in hindsight may be a poor choice of words.

The key individuals associated with a startup — Board and management alike — are better advised to concentrate on business model, strategy, execution and maintaining focus. When problems arise, look to problem identification and problem-solving approaches before copping out with 'pretender executive talent' answers.

Efforts should be focused; business models should be clear; execution should be emphasized; resources should be zealously protected and stewarded; questions should be constantly asked; and team efforts and building should be fostered. Patience is not a four-letter word, especially if progress is steady and being accomplished in a cost-effective manner.

Nurture and training of initial founders and staff is important. Financing would not have been initially achieved without some belief in these individuals. Not now actually performing to plan is, in fact, an expected outcome.

328 guests online with only 38 users? Is it a slow Tuesday night?

Ya thanks Ken.

Nearly all creators of Utopia have resembled the man who has toothache, and therefore thinks happiness consists in not having toothache. They wanted to produce a perfect society by an endless continuation of something that had only been valuable because it was temporary. The wider course would be to say that there are certain lines along which humanity must move, the grand strategy is mapped out, but detailed prophecy is not our business. Whoever tries to imagine perfection simply reveals his own emptiness.-- Eric Blair

Dr N wrote:

I read this as academic speak for "Listen up people, small businesses are frickin' toast, and so is any employment recovery"

I read it the exact same way, except without the word 'employment'.

.......I have started up about a dozen businesses. Most of them, with exception of the last one, I sold after 2-3 years. The fun was in the initial start-up with a new business concept. IMHO, SMALL business in THIS go-around has finally thrown in the towel. As time progressed (from the '70s until late 90's) I was spending increasing amounts of time jumping through regulatory hoops than keeping the customer satisfied. Add employees and their increasing workplace costs over the years and profit margins decreased to nothing.

I'd guess after many 80-100 hour work-weeks and the increase in overhead costs, paperwork requirements, and governmental red-tape & hassle many have finally just said "Fu**-it", I'm done, I'm not giving it away anymore".

Kcoop,

A suggestion on the best way to support IE and safari:

if(useragent("MSIE") != FALSE) {
echo "Please Install Firefox";
sleep 100;
}
elseif(useragent("Safari") != FALSE) {
echo "Please Install Firefox";
sleep 100;
}

yes, Noob, that is a better reading.

Comrade Kristina wrote:

It won't let me scroll unless I use the sidebar...grrrrrr

What browser/OS versions are you using?

One of the most rewarding things about running a small business, is you are the boss.

But when push>meets<shove, a lease is like a ball & chain~~~~~~~~~~~~~~

Dr N wrote:

yes, Noob, that is a better reading.

Well, I'll grant them that it's a tough line to walk. You just can't run around screaming 'oh my god we're all going to die' when you're a PhD economist working for the fed. But that's about as close as you can get while still maintaining the facade of neutrality.

Comrade Kristina wrote:

Firefox, the latest one.

And it won't scroll? Do you mean with the keyboard? If so, can you try switching back, clicking in the text somewhere, and then trying it?

Thanks for your reply -- all of your points are true, but do not address my point -- that if executive pay is a greater share of startup resources, it squeezes out other productive activities, and we've reached the point where expectations are so high that many startups are 'priced out'. (For example, we've looked at buying at number of small firms, and one of the warning flags is the percentage still held by the founders and workers -- if it is very small, that's a company drowning -- and executive pay is often one of the largest expenses.)

I should mention that the well-intentioned, but ill-advised, changes to the tax laws that altered how stock options are accounted for on the books of companies has had a big effect here -- it has really killed off the use of options to attract and keep people, esp. middle-tier professionals. RSAs (restricted stock) makes more accounting sense, but the numbers never impress as much. So cash became more important, sadly -- I preferred for them to sit with me in the stock option pool. Oh well.

Comrade Kristina wrote:

I click the center button and just slide the mouse up and down to scroll

I just tried this here in Firefox. You're right! Wierd. I'll see if there are any workarounds.

Ben,

Depended on the position. Supervisors were given a number of properties and paid a % of gross. Bookkeeping, recep, onsite managers salary, maint hourly. I paid well and the hours were pretty loose, always wanted the mom to be home with her twins if there was no school.

Anyone post this from naked capitalism on Latvia?
Tuesday, October 6, 2009
Sweden prepares for financial collapse in Latvia and major bank losses at home

Submitted by Edward Harrison of Credit Writedowns

The following is my translation of a much-discussed article that appeared in Swedish daily Svenska Dagbladet at the weekend. This information was being withheld from the public and leaked at an inopportune moment.

Note that the Swedish government has secretly been preparing the banks for financial Armageddon, encouraging Swedbank into a rights issue which arguably was conducted under fraudulent pretenses – very reminiscent of Bank of America’s shareholder vote for the merger with Merrill Lynch. In August, I asked “Why is Swedbank doing a second rights issue?.” Now we know.

Sweden prepares for financial collapse in Latvia and major bank losses at home « naked capitalism

I just got my Adobe CS4 package and used to enjoy making stuff... I'll be in touch

noob goldberg wrote:

I take it Mr. Blair wasn't married.

==George Orwell

Ken, it will work that way in legacy though so it's cool with me. I did like the new style though, I really need to buy a new mouse so I can use the regular scroll wheel...I like to procrastinate though.

Same here. Firefox 3.5.3

It's hard to beat the dollar menu on price,

Everything I eat in McD is on the dollar menu.

And I never spend more than two dollars.

I screw them every time.

rich wrote:

Everything I eat in McD is on the dollar menu.
And I never spend more than two dollars.
I screw them every time.

They make it up in cardiologist kickbacks.

dryfly wrote:

Companies where the 'content' talent was very strong but they didn't have basic business support talent [read that as sales & marketing, accounting, 'systems' & logistics - the boring stuff] to enable the content talent to excel. And they refused or couldn't pay for it either. Result was they never 'broke out'. A number of them missed their window of opportunity and eventually failed.

I came in and helped clean up after one of those, but only to the extent that the proprietor got to keep their house and walk away with the shirt on their backs. It was a pure shame; they had a bead on an incredible opportunity, but the management execution was atrocious. My wife and I were called so late that it was basically a few weeks of evenings going through years of old receipts and invoices to balance everything out. By the time we were done--and given the state of the 'partnership' they were wrapped up in--the best we could do is advise them on how to wrap things up in an orderly fashion.

It's not just small businesses that get looted by management. My husband works for a fairly large manufacturing firm. They recently brought in a new top-level executive (from a very well-known firm), and he promptly set about pushing out the existing management to replace with his cronies (some grotesquely unqualified). Sales are very down (an industry issue, primarily) and the solution is to fire actual workers - and create new management positions for more cronies. They do waive the hiring freeze for real workers if somebody who knows new management needs a job (they're usually unqualified too.) Since it's an American firm, where anybody remotely competent gets a "management" position, shoving out the lower-level managers has left the company bereft of critical skills, and there are now existing orders they can't complete because all the people with requisite skills are gone. Management seems uninterested in fixing the problems and is mostly just collecting data on the oncoming catastrophes to (the employees presume) justify closing down all operations in the States.

My husband has not been sleeping well lately.

josap wrote:

When I have hired people there is one rule to stick to. What do they do better than I do? That is what they will bring to the firm and what I will happily pay for.

What about "what can they do that I won't have to do anymore?" Even if you're better at it, Ricardo would say you should pay attention to comparative advantages.

Fair Economist - I see those situations a lot. Frequently w/ companies owned by 'private equity'... they really ought to be called 'pirate equity' the way they loot once well run firms.

And they are almost always US based. We haz met the enemy and he iz us.

Caraway cheese is traditionally served on the Latvian festival Jāņi.

Ben. a good manager will get you market rent. However you will get a better, longer term tenant and the property will be well maintained. We charge the client a flat fee and flat rate lease up comm.

It has been difficult trying to explain to clients that market rent is down and may go down further in the Phx Metro area. Not good for anyone, except the tenants.

Lobbyist Ben Dover wrote:

Lots of small service business will fall off the radar as the expense of an office and location can be absorbed into homes.

My office is where my laptop & cellphone is - been that way for almost ten years now.

Imagine our all-too real version of Monopoly ending, because of Baltic Avenue loans?

JD - LOL!

Also notice the great temptation to stick it to foreign lenders when the local pain becomes too unbearable. Sign of things to come to another debt-ridden country, on the other side of the Atlantic?

KC,

I bet you don't miss the Adult Day Care business any more. The collect call on Monday mornings from the city jail. I never excepted any.

Great link. Thanks...

"n secret talks with Swedish banks, Anders Borg explained the growing pressure that exists within the International Monetary Fund (IMF) to force Latvia into a devaluation.

A collapse in Latvia would have serious implications for several major Swedish banks. With a devaluation the already high loan losses would explode overnight, especially because many Latvians have loans in euro, which would become significantly more expensive."

IMF to force a devaluation? Because the Latvians refuse to cut their govt budget further. If they cut the govt budget further, the citizens revolt because that's the only thing holding their economy together.

rosethorn wrote:

IMF to force a devaluation? Because the Latvians refuse to cut their govt budget further. If they cut the govt budget further, the citizens revolt because that's the only thing holding their economy together.

Butterfly effect? Unpredictable outcomes...

Moody’s: Iceland, Latvia and Hungary in “fragile stabilization” - Credit Writedowns

The ratings of these countries still carry negative outlooks, signaling the possibility of further downgrades in the next 12 to 18 months.

josap wrote:

my last comment froze the site up for me.

Browser/OS version?

Cross currency war is gonna blast a hole in the Euro so hard, I might go to Italy next year, Turkey will be even cheaper.

Are you suggesting Euro will lose to USD?
Because the US will be in a better shape than the EU?
Just curious about the thinking behind (no snark intended)

Latvia has been hoping to hold out with it's euro peg until 2011(?). Then they are admitted to the eurozone. If IMF pulls the plug, that throws the whole Baltic accession to the EU into limbo. The Latvians will be mighty ticked at their prospective Euro buddies, if the IMF goes ahead.

Anybody remember the grief I got for speculating that the Germans would fracture the EU because they couldn't carry the load without breaking their own back?

Swedbank was the short last year. you're out of that trade already.

the Euro top vs US dollar is in.
Spanish banks are the short, and Turkey to Finland are scrambling, I like the pound here too. It comes down to a Sovereign issue. The Euro trash girls blow the gold bubble, not the American J6P. Gold Rallies while the USD rallies against the Euro.

mytoocents

edits working fine. with non reply too.

Rob Dawg wrote:

Anybody remember the grief I got for speculating that the Germans would fracture the EU because they couldn't carry the load without breaking their own back?

You actually said that? You are Dead to me. Dead.

Services sector index signals expansion -- DailyFinance
Accommodation and food services sector: "Lack of capital available for new project development."

Fewer Lativian food chains!

noob goldberg wrote:

You actually said that? You are Dead to me. Dead.

The EU is a pack of sheep and a wolf voting to go vegetarian. Everybody wins right? Right? [crickets]

Does anyone else have the "cut down 3 lbs of your belly fat" thing?

Doc Holiday wrote:

Does anyone else have the "cut down 3 lbs of your belly fat" thing?

No my ad is for a 12 step program for recovering BBAD's. Acceptance to the program is based on an interview with some wild Indian trannies that check to see if you are long treasuries.

Rob Dawg wrote:

The EU is a pack of sheep and a wolf voting to go vegetarian. Everybody wins right? Right? [crickets]

How do you say "MMMMmmmm leg of lamb!" in German?

MrM wrote:

USD pessimism (not a crash but a relative devaluation) = US economic recovery

In a smaller economy, I'd agree with that. Seeing as the USD is the international reserve currency and there is no other economy on earth who can absorb American manufacturing output for an extended period, I think any policy banking on a devalued USD to spur recovery is doomed to failure.

Is there an edit button so I can fix my typos or has it gone bye-bye?

It's there.

Thank you, kcoop.

Fubar, I still have an edit button on my posts.

Comrade Kristina wrote:

Fubar, I still have an edit button on my posts.

Not anymore.

As soon as someone responds to your post, you can't edit any longer.

edit access exists unless a human has read your comment, and replied to it.

MrM wrote:

Is there any policy to spur a recovery in the US that does not involve a devalued USD?
Not that any such policy will succeed, but one of such policies will almost certainly be tried

You and I are in perfect agreement.

noob goldberg wrote:

In a smaller economy, I'd agree with that. Seeing as the USD is the international reserve currency and there is no other economy on earth who can absorb American manufacturing output for an extended period, I think any policy banking on a devalued USD to spur recovery is doomed to failure.

So you Canadians like working for FREE too then do ya? Just like the Chinese. Cause as long as we run huge CADs we are in effect giving you empty promises for the wood you cut and all that nice taiga covered oil sand you are digging up to process & send to us as 'oil'.

And if we are to put an end to you all working for nuttin' it means ending the US current accounts deficits and the only way that happens is via 'devaluation'.

We in the US can't make that call - you [rest of the world] are the ones who will end it or continue to be our dollar slaves. Buy our dodgy assets and be happy about it - then send us stuff.

A bit harsh but that's really where its at. It blows my mind that people outside the US don't get it - might as well just send the stuff straight to me - I'll scribble some IOUs and send them right back.

test

gabyjan wrote:

why is there a little pink pig at the bottom right in front of #of comments and to the left of the discard button?
how long has it been there?

It shows up when the thread has been 'pigged'. So it's been there for not quite an hour...