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"Because the US markets are as reactionary as a dog begging for bacon."
Reminds me of this footage from an Alan Greenspan press conference:
Ultimate Dog Tease - YouTube
Hey shorts, turn your head and cough when you feel The Boys start to squeeze.
I willingly pay 8 to 10 dollars for a well drink in my neighborhood because it's in my neighborhood (in Arizona).
Are you telling me folks in California are not willing to pay the asshole tax? Wow.
I guess that's kind of the definition of assholes - they do not recognize the need to pay the asshole tax..
We'll all find out soon enough.
For now I work a lot and don't stress out much about the markets.
I switched to a Chromebook at home not long after they came out. I am unlikely to buy another real computer unless I start needing significant work-from-home capability.
Same reason we can't maintain infrastructure - the United States simply can't afford to pay the cost of having people do anything substantial anymore.
Because all the money goes to rents.
The good news is that not building anything and paying all our money straight to the overlords is much more "sustainable."
Quizno's or Wingstop?
Reply hazy try again.
Don't worry, the circuit breakers will kick in at 7% down.
Although after 3:25 pm it takes 20% down to trigger.
Hope all the bargain hunters got their fill. We may not see prices at this level again soon.
Nope. Should have known.
To the contrary, I expect it will be illegal to have hair that looks real.
I should have said "I'm not hearing any of my acquaintances panicking YET."
Please do not take my cynicism as a buy recommendation.
The current lame duck US administration is just as dishonest, feckless and corrupt as the previous lame duck US administration, so bad things are very likely to happen between now and the Trump inauguration.
I have been out of the rigged Wall Street casino for five years, so I don't track it closely.
But as I recall, when the Sunday night futures were way down, that was exactly when The Boys would find a way to put the squeeze on.
If the downward momentum is retail panic then The Boys won't be able to control it, but I'm not hearing any of my acquaintances panicking.
If there's any significant short component then look out above.
Good to see you.
Inside information concerning Monday, or just a vague feeling?
We got our 10% correction, so additional wash/rinse cycles are certainly possible.
On the other hand I am not short, so there is no guarantee the market will go up.
DuPont cancer from living in Richland Washington during the Great War runs in my family.
If I were inclined to worry about such things I'd be more worried about Perfluorooctanoic acid and Round Up. But I'm so tired and conditions are so likely to deteriorate that I can't imagine living past 70 anyway.
Oh, this old thing?
Wait a minute, I have a high-security post-it note stuck over the lens on my computer, so I know you can't see what I'm wearing.
I predicted it, right here on Hoocoodanode, several times after I had a few beers.
So don't say you haven't been warned. You know it, whether or not you choose to accept it.
This discussion is not nearly as lively as I thought it would be.
I guess now that everyone knows humans will be extinct in 30-40 years, it's harder to get excited about stock market turmoil.
If people decide to vote for that, then the people can make Congress go along or get a new Congress.
But the people will probably chicken out and vote for the status-quo extinction within 50 years trajectory. Again.
Yes, with my 2L4O (too liberal for Obama) T-shirt.
The difference between Bernie 2015 and Obama early 2008 is very striking in hindsight. Obama said nothing specific whatsoever (for reasons that are now obvious). Bernie says he is going to take money from the billionaires and give everybody health care and free tuition at public colleges. Straight up socialism.
Sounds good. I'm leaving town about noon on Friday.
Did you go to the Bernie rally yesterday?
Wow, I don't think I knew whether they went with REMN for that. Glad to hear things are coming together for them.
Durant's would be great, or Corduroy next door?
I also replaced the electrical systems in my slumlord houses because I don't want the people to burn up.
I know it's anti-darwinian, but I just can't help myself.
OK, thanks. Rent still market? I would reduce rather than have them move down the street.
Josap - I drove by the Harvard house today for the first time in a while. It looks really nice. I hope things are going well for the folks.
Not unless the Chinese want to give everybody in Greece free Renminbi. They might, but I'm not sure the Chinese particularly want a beef with Europe right now.
But the exchange won't go through on your credit card (or anywhere else) if your Euros in the bank have been bailed in like Cyprus.
Quite the opposite. The bankers have all your money, they make the rules, they tell you how much you owe, and you can't change anything without retooling all the commercial infrastructure.
That's the situation Greece is in. They could start accepting Renminbi tomorrow and fly in planeloads of notes. But nobody's credit card would work and everybody would lose all the money they had in the bank, and they just can't deal with that. It will be worse in the future when nobody has any cash to fall back on at all.
And easier to make revolutions impossible. Like in Greece.
I guess we can hope for a chance to start all over again.
Although I'm not sure why I should. Mammals suck (get it?). I think it's time for the cockroaches to have a turn.
No, but Nancy Pelosi's Diane Feinstein's husband might be the broker.
He's the one who handles sales of U.S. post offices.
I like the idea of adopting the Chinese currency. Except merchant electronic payment systems won't work.
Does anybody else ever wonder why the government and the banks are pushing toward 100% electronic currency?
I think Yuan was talking about situations where the private owners did not receive premium prices when the assets were taken by the government.
If the Greeks have the nerve, there won't be much reason to refrain from nationalizing assets once they have been kicked out of the monetary union. But they don't seem to have taken the thought experiment that far yet.
We won't manage it.
That's the point, we're well beyond being able to manage the situation going forward.
And we're not very good managers anyway, except in situations of unconstrained resources where exponential growth makes anything possible.
But bacteria manage growth about as well as we do.
Wow, lots of anger on hoocoodanode every time I come here.
I have been feeling much better since I accepted that humans will be extinct in 50 years.
Try it, it might work for you too.
Which part? Catastrophic price drops destroy capacity pretty much every time they happen. It should happen especially here in the US where costs are high and rising. The rigs will rust or be sent elsewhere for near scrap value, the low-interest liar loans will dry up - same old story.
I already cited Jevons for the price reduction part - based on coal prices crashing in the mid nineteenth century when steam engines were improved.
I'll admit, I thought prices were headed relentlessly upward a few years ago, but in hindsight it's blindingly obvious that price instability would be the real engine of destruction.
See Jevons above. Price reductions are another way to get to the peak, and will reduce production capacity much faster than price increases would.
Of course governments can restart production by issuing money to fund it. Just like they're doing with the rest of the economy.
Fire and Ice by Robert Frost : The Poetry Foundation
Intentional propaganda and misdirection?
Or noblesse oblige?
Take up the White Man's burden, Ye dare not stoop to less--
Nor call too loud on Freedom To cloke your weariness;
By all ye cry or whisper, By all ye leave or do,
The silent, sullen peoples Shall weigh your gods and you.
Depends on whether rogue police with military gear, paranoid nativist gun-nuts, and drone-murdering Presidents count as terrorists.
Glad you didn't spoil the suspense by saying which know-nothing party is number 2.
No, no, no, no! I have it on good authority that leverage increases profits, and risk equals reward! This is just a contrarian indicator.
I finally bought my '96 Escort wagon a few weeks ago. It took me a long time to find a good one, but now I shouldn't have to buy another car until I get too old to drive a standard (which is why the original owner of this car sold it).
It was proudly assembled at the Wayne stamping plant, so I feel pretty good about my contribution to the US economy!
No, no, no, no!
Now is the time to buy Hummers! When gas is cheap! That's why everybody is doing it!
Increased efficiency leads to more consumption, not less, often through the mechanism of lower prices.
Rebound, Backfire, and the Jevons Paradox.
Redistribution of wealth is trickier than it looks.
the lupin proletariat will be their bootlickers
Monty Python - Dennis Moore - YouTube
I thought waiting until after dark to announce what everybody already knew would happen was a nice touch.
Especially after the authorities made such a big deal about not wanting people to protest at night the last time around.
I am fine with Missouri burning to the ground, and I am glad the Royals got stomped in the World Series.
Obama can exercise his veto hand
Obama is practically wetting himself in anticipation of the opportunity to sign "bipartisan" legislation to dismantle social security and medicare, bomb more wedding parties in east Africa and southwest Asia, set up a "New Bracero" immigration reform program so tech companies can pay people with advanced degrees $1.21 an hour, make bankers permanently immune from criminal prosecution, the list goes on and on.
Voice in the head is one of the main things cognitive behavioral therapy deals with, in a very straightforward and practical way. One of the nice things about it is you can tell if it's working pretty quickly.
I second poic's comment. A few basic cognitive behavioral concepts (and a few years of exposure to my crazy bio-dad before he died) helped me get a lot of my anxiety and mood swings under control.