No worries; rail traffic is a lagging indicator. Ask Warren Buffett.

Luckily the stock market is an inversely related to the real economy.

o/t: I'm really enjoying all the donated tiles. At first I though Mt Rainier might have been Mt St Helens pre-explosion

RR and hotels just have a bad case of H1N1, move along, nothing to see here...snark/

http://download.zew.de/e_10_2009_table.pdf sentiment surveys from around the world via the ZEW German report
notice the wide spread between current and leading indicators? this is the point leading indicators fall faster than current ones can rise.
poor benny boy, there's no school like experience and a fool will learn from no other

I didn't know this: U.S. intermodal traffic is not included in carload figures

U.S. intermodal traffic (which is not
included in carload figures) totaled
826,341 trailers and containers in
October 2009, an average of 206,585
per week. That’s down 11.2% from
the comparable period in 2008 (when
the weekly average was 232,668 units)
but up 4.0% from the weekly average of
198,647 in September 2009

That doesn't sound good for Chrismas.

"on the Verge of Self Mutilation is now listed as a
user.

Not sure whether I want him/her to actually post.

I didn't know that either and thanks for the note on it! Holy crap.

OT: I love Jon Stewart:

http://news.yahoo.com/s/huffpost/20091112/cm_huffpost/355385 for full article.

Chez Pazienza Chez Pazienza – Thu Nov 12, 1:27 pm ET

Read Chez Pazienza's other articles on HuffingtonPost.com

So last night, Fox News host Sean Hannity did something many will call shocking, some will call phony and insincere, and I'll call, at the very least, uncharacteristic of his network and those it speaks for: he apologized.

At the end of his show, which as usual featured an hour of unrestrained Obama-bashing and GOP cheerleading, Hannity copped to something he in many ways had no choice but to cop to -- at least if he wanted FNC to be able to maintain the illusion that it's a legitimate news network. He admitted that Jon Stewart was right when, two nights ago, the host of The Daily Show pointed out that Hannity and company had run video of a September Tea Bagger rally on Capitol Hill during a story about last week's Tea Bagger rally. The difference? Maybe 40 or 50 thousand people. Stewart's point was that it looked as if Hannity had used the old footage of the much bigger crowd to try to hype the numbers at the more recent protest; what made The Daily Show staff apparently think that Hannity's deception was deliberate -- aside from the fact that it would take a 6-year-old with Down Syndrome to mix up file footage with brand new video -- were the startlingly obvious differences in the images themselves: leaves still on the trees in the September clip, people in late-summer short sleeves versus mid-fall coats and scarves, etc.

Regardless, Hannity now says he's sorry:

Nanoo-Nanoo wrote:

unrestrained Obama-bashing and GOP cheerleading

Another thing that having multiple Parties would reduce. At least they'd have to split their venom between more than one target. These guys are dangerous.

Thanks HomeGnome and I love the new features too on CR. Thanks kcoop, good job.

bedroom french easy

Pas tousjours. Une fois, mon amie m'a dit, "le chapeau, mettez le chapeau..."
----"Pourquoi? Mais nous sommes dans la chambre. Ah, oui.., ca.

I'm sure Dagny has a handle on this.

If not, at least we won't take the blame.

I guess hat means something that goes on more than
one head.

Calpers via zerohedge is reallocating money to higher-beta managers. what that means is they will actively pursue more investments in the junkiest of bonds because Calpers believes the market only goes up, and those risky bonds would give the best return. When was it Calpers went long subprime and private equity again? someone start a petition to make rob dawg the head of calpers, this is enough to make anyone vomit

also the GS charity documents are now available at Reuters.com

Ok, so when does Cali implode?

Maria Shrivers was on Jon Stewart recently and said
that being first lady of Cali was a really fun job.

Hey, what's the worst that could happen...?

"I wonder where the mother bear is?"

lawyerliz wrote:

that being first lady of Cali was a really fun job.

Let them eat protein shakes.

"I wonder where the mother bear is?"

+1

Time to go play with the cute dog! Thanks, it was an interesting day.

Be well and safe all.

"On n'a rien a gagner a emmerder les gens qui n'ont rien a perdre."

EvilHenryPaulson wrote:

Calpers believes the market only goes up

No, I think their accountants have told them that they can't pay their bills if the market goes down so they are putting all their chips on red 23. They are like a failing bank in a lot of ways.

Fed regulates all banks I thought
are you thinking of like an industrial bank that runs some of those private ATMs you see in bars? still I think that transaction goes back to the bank and so it too would be regulated by the overdraft consent

The tea bagger term is used by liberals to put down the silly conservatives who are unaware of the sexual context. It's a game of "I just called you a bad name and you don't even know what it means!"

You mean they now can't bounce checks to maximize their
bounced check profits?

it's not easy to make nouns into verbs in french. that's why you either have a unique word or they just appropriate the english like "le footing" for jogging. thé = tea, sac = bag, sachent de thé = teabag

lawyerliz wrote:

How do you say teabagger in French?

I have no idea. Une sacheteur de thé?

Actually, I don't know what the word for 'bagger' is.

EDIT: EHP said it much, much better.

sac de douche?

NOTaREALmerican wrote:

How do they make mission statements? How does IT management in France exist?

Like the rest of the language, mission statements in French are very, very wordy.

So the concept of a one bagger vs a 2 bagger doesn't exist
in French?

English--oh, la la.

Which came first, merde or emmerder?

Rajesh
thanks for the correction. it might not be a bad idea to limit corporate complexity, too many companies holding spurious subsidiary companies to squeeze past regulations

REBear wrote:

Is Edward telling us that Geithner intends to lower purchasing power of the dollar?

It sounds to me like Edward is saying that Geithner is saying the Chinese have to float their currency, which would make our dollar weaker, not stronger (which is the "offical" party line).

sachet de thé -ers

How long before the US dollar loses its reserve currency status?

well to be fair, the French revolution didn't involve thowing any
tea in any harbors. I don't think.

steelhead wrote:

How long before the US dollar loses its reserve currency status?

Since CBs are now buying instead of selling it, I'd say the transition's already in progress.

So what would you do if we chained your leg to the head guy's desk
at Calpers, Dawg? Chew off your foot as being the better deal?

You mean chewing off the foot that isn't chained to the desk, of course. Right?

Oui.

Didn't know about chattel.

A hotel for catz?

Rajesh wrote:

Federal Reserve only regulates bank holding companies and the banks they own. Federal chartered banks without a holding company are regulated by the OCC. Almost all banks are members of the Federal Reserve System but that by itself does not mean they are regulated by the Federal Reserve.

The Fed does have authority to regulate (but not examine) all banks on Equal Credit Opportunity Act, home mortgage disclosure, reserve requirements, Electroinc Funds Transfer Act, check processing and collection, consumer leasing, Fair Credit Reporting Act, Truth in Lending Act, funds availability, and Truth in Savings Act,

EDIT: and overdrafts for electronic funds transfers . . .

A spur line goes through town and ten miles up the coast to a cement plant. The plant "ceased operations" (which is not quite the same thing as shutting down) over six months ago. I can't remember the last time I saw a freight train on those tracks.

I don't know if CalPERS is figuring on this (probably not), but as more cities and counties force furlough days on their employees, it will increase the number of retirements. Furlough days = salary reduction which = less retirement pay (formula based on salary).

CalPERS is an interesting animal. It wouldn't take much common sense to put them back on track. They are also in a nearly unique position to do great good. Simple things like policy positions against HFT for example. Their problem is they are being pulled in too many directions right now. They need to tell the retiree classes to STFU and prepare for lean years while the damage is repaired without dinging the taxpayers because if the taxpayers take a hit now then the retirees will never see maximum returns.

EvilHenryPaulson wrote:

served as chief of staff for a governor

The various commission appointments and board positions are nothing more than mafia-like patronage. If there's any justice in the world this will all fall apart. But, I'm pretty sure there were some pretty good appointments happening while Rome was being sacked.

Someone posted some China pollution pictures a few threads back,
and of course it was awful, but I must say some of them look like the
belching pollution in the Baltimore of my youth.

Why are we not adding pollution tarriffs to the goods produced that
way??

Now, g'nite, for real.

Rob Dawg wrote:

They need to tell the retiree classes to STFU and prepare for lean years while the damage is repaired

CalPERS can't change the benefits or eligibility. They can't impose lean years. They can't even go whining to the PBGC.

Terry wrote:

prepay slightly over three years of estimated insurance assessments

This happened in Shogun. In that case it was to support a war.

Then CALPERS should not have ever play in the big casino. Can't have it both ways.

some investor guy wrote:

CalPERS can't change the benefits or eligibility. They can't impose lean years. They can't even go whining to the PBGC.

Oh, I know but I ask you to count all the "cannot happens" that have happen over the last two years. The retiree classes had better reconsider accepting modified terms lest they face having those terms modified without their consent.

Why are we not adding pollution tariffs to the goods produced that
way?

The Baltimore of your youth was a thriving industrial and shipping center.

(We lived in Middle River.)

Terry wrote:

FOR IMMEDIATE RELEASE

Man, I just voted in the BFF poll. If I had know Sheila was going to have 45 big ones in her pocket, I would have gone higher.

Rob Dawg wrote:

The retiree classes had better reconsider accepting modified terms lest they face having those terms modified without their consent.

Man, when things get that bad the politics will be fascinating to watch.

EvilHenryPaulson wrote:

Who in Rancho Cordova spends their entire day searching Calpers on google?

Jeez. I didn't think I was THAT obsessive...

Who in Rancho Cordova spends their entire day searching Calpers on google?

Dan Lundgren

There's a disproportionate number of Sacramentans on this blog.

Speed wrote:

disproportionate number of Sacramentans on this blog.

It's the water.

HomeGnome wrote:

BFF

OT (sort of): The BFF poll reminded me I'm working tonight and I have to admit I've been a bit slow to make the connection. I work as a pizzaiolo in a napolitano pizzeria here in downtown Auckland, New Zealand.

So the $45BB is due 12/30, doesn't count against "earnings" of the "talent". I hope bonuses are not affected in any way...

Grim_Poppet wrote:

I work as a pizzaiolo in a napolitano pizzeria here in downtown Auckland, New Zealand.

What's the employment situation in Auckland like? Not that I'm professionally curious, or anything.

[softly whistles, looking up at the sky]

If insolvency doesn't impact bonuses I don't think anything can.
Edit: except maybe

Remember that all that CALPERS googling from R. Cordova is just that; googling. That means that they're LOOKING for CALPERS but haven't found them yet.

For the record, Rancho Cordova is the home of the CA In-Home Support Services center that pays caregivers to keep elderly and disabled in their home rather than institutionzalized.

TJ and The Bear wrote:

before another payment comes in

She won't need more than that 45B tho. I'm sure of it. It's almost over.

noob goldberg wrote:

What's the employment situation in Auckland like? Not that I'm professionally curious, or anything.
[softly whistles, looking up at the sky]

Unemployment in New Zealand has jumped from 6 per cent to 6.5 per cent in the September quarter.

Number of unemployed hits 15-year high | Stuff.co.nz

And in today's news:

Median house prices hit 10-year high in October | Stuff.co.nz

rail down in october? that is incredible. last october was terrible.

Grim_Poppet wrote:

Median house prices hit 10-year high in October

Darn. Who is still buying houses there? The English are broke. The US is broke. I want to buy one someday. I keep waiting for a crash there, but nothing.

What does the FDIC do with the $45B in the meantime? Buy treasuries I'm assuming. Good thing we don't have a potential bond bubble.

noob goldberg wrote:

What's the employment situation in Auckland like?

There's more to offer in Auckland simply because there's more people and more firms. Oh, and the weather and beaches are nice too.

Darn. Who is still buying houses there?
.

My guess would be well heeled repatriating Kiwis, eh Poppet?

NOTaREALmerican wrote:

Darn. Who is still buying houses there? The English are broke. The US is broke. I want to buy one someday. I keep waiting for a crash there, but nothing.

There's heaps of Asian interest in buying here. I also think people believe "she'll be right, mate" and are smoking hopium.

Grim_Poppet wrote:

There's more to offer in Auckland simply because there's more people and more firms. Oh, and the weather and beaches are nice too.

Well, I'm going to hang out with some Kiwi relatives near the end of the month, so I'll see what their impressions are. For one, I'll figure out exactly which city and region it is in which they live.

Grim_Poppet wrote:

If you bring $5 million with you, you can qualify under the "Investor" immigration category.

Is this by any chance called something like the "buy a visa" program?

Grim_Poppet wrote:

If you bring $5 million with you, you can qualify under the "Investor" immigration category.

Do I actually have to "invest" it, or can I just move there and keep my 5M$ loot (like in a suit case). I recall they had some category of "owning a business employing more than X people" but that appeals to me like sticking a pencil in my eye.

some investor guy wrote:

Maybe some sort of physical challenge too, like doing a six minute mile.

Survivor. Immigration!

What does the FDIC do with the $45B in the meantime?

Uh, she's doesn't mean real copper pennies. The banks don't have actual hard cash to spare. And the FDIC has all sorts of other outstanding obligations besides the measly DIF. They've been guaranteeing financing to PPIP ponzies, GS paper, you name it. That money is long gone.

some investor guy wrote:

It would have low healthcare costs and fewer dumb people.

Meh, the country would be full of idiots inside a generation. Smart people don't breed true.

Wherever one goes, you gotta watch the tax liabilities. Wellington is likely to want a piece of your coupon clipping if you're resident.

YMMV, of course.

i took my 8 banks for bff

Well, off to the health club to ogle the hotties.

Power hour and yoga.

Later.

Anak wrote:

Wherever one goes, you gotta watch the tax liabilities. Wellington is likely to want a piece of your coupon clipping if you're resident.

YMMV, of course.

True. Although New Zealand is unique in that Residents can vote. New Zealand has a reciprocal tax agreement with the US, so if you pay taxes here, you don't have to pay Federal taxes in the US (on income up to US$80K)

Federal taxes in the US (on income up to US$80K)
.

Yessir. Up to about USD90K now, I think-- but it's exempted only for earned income. Your i and div income is always gonna be subject to Sammie's cut, wherever you may roam . . .

noob goldberg wrote:

I think my age, education, family, and vocation put me over the bar in terms of immigrating. But unless we became desperate for employment, I'd be hard pressed to move my wife across the ocean. But I like to keep my options open, because you never know.

Skilled migrant categories constantly change here. People who immigrated here on a work visa just a few years ago to work in agriculture have recently been displaced by returning Kiwis. A Work Visa comes with no guarantee of being able to stay in the country. If you are considering immigrating under the skilled migrant category, check the immigration website frequently.

Also realise two things: Pay is less for similar jobs and the cost of living is quite high. Most move to New Zealand for the quality of life, which is difficult to beat.

Skilled migrant categories constantly change here.

Screw New Zealand. Come down here! There's always room for one more lobbyist weasel. I know you can do it. We'll get you a (what the hell is it? CWC?) big ass gun so that you can walk the city streets.

He's not worried about the Queen coming to dissolve parliament and impose her draconian law?

I think Canada has more . But she would never get involved in a decision about Canada's Parliament...

(Never dreamed I would win that one so fast)

1 currency now -yogi wrote:

But she would never get involved in a decision about Canada's Parliament...

I think the attitude in Canada toward the Queen is similar to the attitude many have toward their elderly grandmothers: it's nice to have her around and to visit once in a while, and she is a good source of historical knowledge and juicy anecdotes, but if she came and told me that I married the wrong girl or took the wrong job and insisted that I change my ways, I'd completely ignore her.

1 currency now -yogi wrote:

Q for our Canadientariat distingue: I have always been curious how much "old money"

That's outside of my realm of experience. I don't even have 'new money' yet, and all of my ancestors came to Canada pretty much destitute.

And the same is pretty much true for most of my acquaintances. I've been to ritzy golf courses that are a hundred years old with closed memberships sitting on hundreds of millions worth of land, so I know there is some old money somewhere, but I just don't have a clue where it is

Or are you talking Canadian Mint interactions with the UK/Queen?

Yeah, who has title to those golf courses, and are there mineral transactions in sterling?

OT: FDIC Pre-payments
I'm torn. The FDIC completly disregarded my public comment regarding the legality of them collecting "prepaid assessments". The rule is ridiculous and I'm positive it would get thrown out if placed before a judge.
1) Voters elect Congress to make law, this is a Constitutional right
2) Agencies cannot stray beyond the law
3) Clearly the FDI Act Limits the definition of deposits to current deposits
4) They can't collect assessments against projected future deposits.

The FDIC didn't even feign to reading my unique public comments; even while they counted to the tenth every stupid form letter. As I was looking through the draft of the proposed rule my blood started to boil once again.... these bastards don't work for the banks; they work for the Citizens of the US! I don't care if they have to loan the money from the Treasury or collect a special assessment; they still have to follow the damn law.

I already have about 80% of the complaint content.

I just can't fathom why the British would maintain a Governor General for no reason and why Canadians would tolerate it.

TARP Inspector General: Taxpayers to suffer Losses

NOTaREALmerican wrote:

One during Vietnam; when a boxcar full of bombs (500lb I think) blew-up, doing considerable damage to the surrounding area

It wasn't a boxcar, it was a whole frigging munitions train including some C4 and there were propane cars on it as well - watched it from across a field across the street from my aunt & uncle's place - the whole world shook and it took windows out when the first propane car blew and that's when we got the fuck out of there...

1 currency now -yogi wrote:

Of course, Noob, but technically, she dissolved Parliament this year over the objections of Canadian representatives of the people.

Indeed she did. What I found most fascinating about the entire exchange was how many people within my sphere of knowledge believe what the 'coalition' people did was illegal, or even immoral.

I heard many times "we voted Stephen Harper in, and they're trying to cheat their way into power".

Huh? Are you an idiot? You voted your representative in, who is supposed to work in your best interest to find a method to make government functional. If that means making a coalition, so be it. We don't elect a single person to run the country; that's in other countries.

That whole episode highlighted some severe shortcomings in our high school civics curriculum, as far as I'm concerned.

As for the golf courses, I have no idea. I should probably have paid more attention in my high school civics class

1 currency now -yogi wrote:

I just can't fathom why the British would maintain a Governor General for no reason and why Canadians would tolerate it.

Because we're polite, and so far have not had a reason to evict her.

Considering how hard-core our current GG is and her associated popularity ratings after eating the seal heart, I think most Canadians would put her in power over Stephen Harper.

EDIT: I should modify this to say 'Because we're too damned polite'. In reality, we don't really need that sort of hand-holding anymore, and now it's there simply for nostalgic purposes.

"Wherever one goes, you gotta watch the tax liabilities."

....which brings US to........

Hong Kong Is New Target of U.S. IRS Crackdown on Global Tax Evasion - As is Panama, the British Virgin Islands, UBS clients who pleaded guilty also implicated Singapore, Liechtenstein, Mexico and the Cayman Islands.

........my 1,023 holes (at last count) in the desert are looking safer and safer everyday..........