From the AP:
Troubled times could be boon for Shore tourism
Surging gasoline prices forced many New Jerseyans to rethink their vacation plans last summer, and stay closer to home.
This year, a tank of gas is far cheaper. But the slumping economy and soaring unemployment rate seems to be having the same effect as expensive fuel, with New Jerseyans continuing to opt for a family- and wallet-friendly vacation at the Jersey Shore.
Tourism officials and real estate agents say the troubling times are a boon for the Garden State’s tourism industry, noting that about 30 million people live within 300 miles of the Shore area.
“Many people won’t be on cruises or taking cross-country trips this year — they’re looking for places they can go on a tank of gas,” said Diane Wieland, tourism director for Cape May County.
…
Real estate agents say prices for many summer rentals remain around the same levels as last year, and they’re confident that interest will grow as summer draws closer and the season gets going.But they have noticed that many visitors who in the past would stay for a week or longer are now considering shorter trips — three or four days — as they deal with financial uncertainty.
…
“It’s still early in the season, but we were right on target at the end of January with leases, and we were inundated with calls in February, so we’re looking good at this time,” said Jeff Gamble, president of the Ocean County Board of Real Estate Agents. “We feel confident that we’re going to be ahead come April.”But real estate agents and others concede that how the season ultimately turns out — and whether would-be renters and travelers actually make the trek to the Shore — will rest mostly on the state of the economy.
David Weinstein, a spokesman for AAA Mid-Atlantic, says many of their members are not booking trips as far out as they did in the past and are more likely to leave only a deposit, rather that paying in full for a trip up front.
“This tells us that they’re waiting for good deals and that they’re trying to get as close to the departure date as possible, to alleviate any of the uncertainty that might exist if you book six months to a year out,” he said. “Many travelers just don’t know these days what their job or economic situation could be a half-year from now.”
From MarketWatch:
AIG Q4 loss $61.66 billion
AIG Q4 loss $22.95 a share
AIG reports fourth-quarter loss of over $61 billion
U.S. gov’t: Risk of inaction on AIG: ‘extremely high’
Gov’t announces new restructuring for AIG
Treasury to swap $40 bln AIG preferred into new preferreds
Treasury announces new $30 bln facility for AIG
From MarketWatch:
HSBC to shutter U.S. operations, raise $17.7 billion
Banking giant HSBC Holdings said Monday that it will shutter much of its U.S. consumer lending business and raise 12.5 billion pounds ($17.7 billion) from shareholders after reporting a 70% drop in profit for 2008.
The bank said it will shut down the branch network of its HSBC Finance arm in the U.S. leaving only the credit card business to continue operating. The closures will result in 6,100 job losses.
My Day at the Foreclosure Hotline
“I traveled to Freehold, N.J., in January to spend a day getting to know some of the people who staff the Homeowners HOPE hotline (888-995-4673), and to listen in on of the calls they field from people who are afraid of losing their homes. The result is the “Talk to Me” story in the March 1 issue of Washington Post Magazine.”
http://voices.washingtonpost.com/local-address/2009/03/my_day_listening_to_the_forecl.html
There’s a link in the article to the March 1 story.
ill predict the down touches 6800 today and a new wave of panic arises
(haven’t checked futures yet)
Our Great Recession
By NIALL FERGUSON
THIS recession, which began in December 2007, has already lasted longer than the average postwar recession. If it turns out to be as bad as the most protracted of the postwar downturns, we will touch bottom next month.
But my strong suspicion is that we are now in something more like a Great Recession. It won’t produce as steep a fall in American output as the Depression did, but it may prove to be as prolonged.
The depression that began in August 1929 did not hit its nadir until 43 months later. The one that started in October 1873 was shallower but lasted 65 months. If the economy were to keep shrinking for that long, we wouldn’t start coming out of this until after May 2013.
Is that possible? This is a crisis of excessive debt, the end of the Age of Leverage. It will take longer than a few more months to resolve bank and household insolvency, especially with asset prices continuing to fall so rapidly. Even with zero interest rates and huge deficits, Japan suffered a “lost decade” in the 1990s — and that was when the rest of the world was doing well. This recession is taking place as the rest of the world is doing even worse than the United States. The collapse of trade as measured by East Asian export data is petrifying.
So far in this recession, remember, we have had only two consecutive quarters of declining gross domestic product. At the moment, I find it quite easy to imagine two consecutive years of contraction. And I don’t rule out two more lean years after that.
— NIALL FERGUSON, a professor at Harvard and the author of “The Ascent of Money: A Financial History of the World”
So finally, MSM is showing the John Q, the home price chart made by Shiller. I believe this chart came out almost a or so ago. MSM finally woke up, I guess.
Glenn Beck’s heart-stopping housing chart
Jim Rogers – “I expect to see civil unrest in the U.S.” 02/25/09
Crapcast went out on me yesterday, may go out today. The world is failing, and I can’t post.
Typical.
#7 -Thanks for the link SG, Rogers has had a lot of interesting things to say in the past. I don’t always agree with him, but he is interesting.
Also, India seems to have quite a bull market in incredibly attractive women.
How the Crash Will Reshape America
No place in the United States is likely to escape a long and deep recession. Nonetheless, as the crisis continues to spread outward from New York, through industrial centers like Detroit, and into the Sun Belt, it will undoubtedly settle much more heavily on some places than on others. Some cities and regions will eventually spring back stronger than before. Others may never come back at all. As the crisis deepens, it will permanently and profoundly alter the country’s economic landscape. I believe it marks the end of a chapter in American economic history, and indeed, the end of a whole way of life.
At first glance, few American cities would seem to be more obviously threatened by the crash than New York. The city shed almost 17,000 jobs in the financial industry alone from October 2007 to October 2008, and Wall Street as we’ve known it has ceased to exist. “Farewell Wall Street, hello Pudong?” begins a recent article by Marcus Gee in the Toronto Globe and Mail, outlining the possibility that New York’s central role in global finance may soon be usurped by Shanghai, Hong Kong, and other Asian and Middle Eastern financial capitals.
The news finally addresses some real issues! (video)
http://tinyurl.com/agkebl
The above linked article is long one. Here are some more paragraphs,
The solution begins with the removal of homeownership from its long-privileged place at the center of the U.S. economy. Substantial incentives for homeownership (from tax breaks to artificially low mortgage-interest rates) distort demand, encouraging people to buy bigger houses than they otherwise would. That means less spending on medical technology, or software, or alternative energy—the sectors and products that could drive U.S. growth and exports in the coming years. Artificial demand for bigger houses also skews residential patterns, leading to excessive low-density suburban growth. The measures that prop up this demand should be eliminated.
The foreclosure crisis creates a real opportunity here. Instead of resisting foreclosures, the government should seek to facilitate them in ways that can minimize pain and disruption. Banks that take back homes, for instance, could be required to offer to rent each home to the previous homeowner, at market rates—which are typically lower than mortgage payments—for some number of years. (At the end of that period, the former homeowner could be given the option to repurchase the home at the prevailing market price.) A bigger, healthier rental market, with more choices, would make renting a more attractive option for many people; it would also make the economy as a whole more flexible and responsive.
Commercial Real Estate Mutiny In Downtown LA
Numerous merchants in LA’s Grand Central Market did not pay their February rents for more than two weeks. The merchants were protesting high rents and advertising fees as described by Los Angeles DownTown in Mutiny at the Market.
http://globaleconomicanalysis.blogspot.com/2009/03/commercial-real-estate-mutiny-in.html
Freddie Post $25 Billion Loss; Comes to U.S. for $15.2 Billion
You’re damn right there’s going to be civil unrest here. Someone put my ass in a sling and I’m not a happy camper.
The thing I hate above everything else is that sniveling damn dog that Clod has patrolling the perimeter of his property. The first thing I’m going to do is find the damn doghouse that mutt stays in and burn it down to the ground. Burn baby burn!!
I hate that damn dog.
SG says:
March 2, 2009 at 7:01 am
Jim Rogers – “I expect to see civil unrest in the U.S.” 02/25/09
VIX Premium Shows Stocks Bear Market Lasting 2 Years (Update1)
Email | Print | A A A
By Jeff Kearns and Gareth Gore
March 2 (Bloomberg) — Options investors are paying twice this decade’s average to protect against losses in U.S. stocks through 2011, signaling the bear market that already wiped out $10.4 trillion of equity value may last two more years.
“There’s a real panic in the markets, with some people wanting to buy long-term insurance at any price,” said Peter Sorrentino, who helps manage $16 billion, including $130 million in options at Huntington Asset Advisors Inc. in Cincinnati. “People have lost hope.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9RbBHEpkK1s&refer=home
“The first thing I’m going to do is find the damn doghouse that mutt stays in and burn it down to the ground. Burn baby burn!!”
You sound like a real estate terrorist.
(SG) 10 and 12
Someone posted that on 2/22 – I remember because after reading it – pg. 6 my post 454 – 9:21pm…
It struck me that we have had our priorities all wrong.
“As home ownership rates have risen, our society has become less nimble…”
Their contention was renting should be encouraged, not home buying. At a time when folks may need to relocate and our workforce needs to be mobile, many are stuck with houses they can’t sell.
That was a profound observation to me.
http://www.doctorhousingbubble.com/
(16) HEHEHE -Dr. Housing Bubble has said all along, California cannot bottom until 2011. Good post today.
Burn baby burn!!:
See Retard, your problem is that you think too small. Use your firestarter abilities to burn down all the empty houses in NJ. That way all of your underwater properties will easily sell.
SRS 85/FXP 45 in premarket.
Unless someone in gubmint says something that makes sense (about as likely as bi), DJIA will open under 7,000.
You people are meshugenah.
You’re damn right there’s going to be civil unrest here. Someone put my ass in a sling and I’m not a happy camper.
Are you sure they didn’t stuff the sling up your ass?
Unemployment is the new vacation
If “O” wants to be believed, people need to go to Jail, and I don’t mean Madoff restricted to his Penthouse. He can start with Time Magazines list of 25. Add a few obvious ones like Barney Frank and maybe, just maybe, he would have some credibility. If not jail, he could make them take 80 mg of Crestor daily, under his new medical plan. Unregulated Big Pharma can be more effective then Capital Punishment.
off to shovel snow. will check back to see if the world gets sucked into a singularity at 9:30
goldmans most recent economic research report is called “the return of the frugal consumer”
“After two decades of increasing profligacy, US households are rediscovering the virtues of saving. Americans are rapidly cutting back on expenditures as they adjust to a sea change in economic conditions and the prospect of an extended period of below-trend economic growth. This expectation of a weak economy is to some extent selffulfilling: a rising household saving rate will dampen spending growth and should remain a key headwind for the economy well into 2010.
Our current US economic forecast assumes a sharp rise in the household saving rate to over 8% by the end of 2010.”
Anyone want to live in a 60’s era pod?
http://halfasleepinfrogpajamas.wordpress.com/2009/01/05/san-zhr-abandoned-ufo-pod-village/
#24 safe-
buwaaaaaaaaaaaaaaaaah!
good one
sas,
Yes, I’m 6’2, about 200 pounds.
From MarketWatch:
U.S. Jan. savings rate rises to 5.0%, 15-year high
U.S. Jan. incomes rise 0.4%, vs -0.1% expected
U.S. Jan. consumer spending rises 0.6% vs. 0.5% expected
U.S. Jan. real disposable incomes rise 1.5%
U.S. Jan. real consumer spending rises 0.4%
From Bloomberg:
Some Banks Must Die So the U.S. Economy Can Live: Caroline Baum
In an era when we’ve all become interventionists — when doing something, anything, is preferable to doing nothing and risking being blamed for any outcome — it’s good to hear a few voices pointing to the danger of government overreach.
NJ Casino Dealers part of the UAW?
Huh?
Since when has gambling been part of the automotive industry.
Hmm, maybe it isn’t such a bad idea after all.
From the Star Ledger:
Tropicana Casino dealers authorize strike
Casino dealers at the Tropicana Casino and Resort have voted overwhelmingly to authorize a strike, but haven’t set a date for a walkout.
And the dealers, members of the United Auto Workers, say they will continue to report to work as usual.
The union members made their decision in balloting held Friday and Saturday, but vote totals were not immediately available. It came about a month after similar strike authorization vote by slot technicians at the casino, who also are represented by the UAW and still remain on the job.
Dealers told The Press of Atlantic City that Tropicana officials have maintained a “callous attitude” during negotiations.
“You people are meshugenah.”
Nah. Crazy, maybe. But meshugena? Naah.
(Tongue planted firmly in cheek).
Breaking! Freddie Mac CEO resigns.
Grim,
Why work when one can earn millions lazing on a beach in the USVI?
#32-
“It’s worth the cost to sort things out as quickly as possible, he says. “If you postpone short-term pain, you end up with long-term pain,” which is what happened in Mexico and Japan. ”
all we do is postpone, long term pain here we come…
(32) Grim – Another cry “Opposed to rewarding people who made bad investments.”
“Unproductive firms need to die.”
Well there ya go…
I say that even knowing it will ultimately affect the pension I’m supposed to get. These sink holes (C/AIG) get restructured or the whole friggin mess could come down.
the trop and bally;s are two that could
be shut down and never missed.
and the cowboy one as well. dives
http://www.portfolio.com/views/blogs/market-movers/2009/03/02/whats-happening-to-citigroup
“What’s happening at Citigroup?”
“Meanwhile, the debate over Citigroup’s Mexican subsidiary, Banamex, rumbles on. Under Mexican law, no government can own more than 10% of a Mexican bank, which is obviously a problem if the US government takes a 36% stake in Citigroup. The Mexican SEC is investigating, while Banamex is unconvincingly saying that Nafta somehow overrides Mexican law and makes the stake fine.”
what was the Bi muzzle? SRS is at 85 and change in pretrading
gotta get popcorn, this is should be a good show!
from mish-
You Walk Away LLC sued in class action lawsuit
Last week You Walk Away LLC was sued for alleged violations of California State Law. Here is a copy of the News Release.
Distressed Homeowners Sue Carlsbad-based “Foreclosure Consultant” YOU WALK AWAY, LLC for Violations of California State Law
CAPISTRANO BEACH, Calif., February 23, 2009 – The Law Offices of Benjamin L. Meeker, APC announced today that it represents the plaintiffs in a class action lawsuit filed against You Walk Away, LLC, a “foreclosure consultant” company located in Carlsbad, California.
“We believe that You Walk Away’s conduct falls within that described by the California Attorney General’s Office as the ‘Foreclosure For a Fee Scam’” says attorney Benjamin Meeker. As described by the California Attorney General’s Office, foreclosure consultants who perpetrate this scam advertise to homeowners that they can provide “advice” on staying in their home until they are evicted.
“As its business name illustrates, the plaintiffs allege that You Walk Away entices homeowners into believing that simply walking away from a foreclosed home has few, if any, consequences, while charging hefty fees for its products” Mr. Meeker explained.
You Walk Away Responds
Jon Maddux, CEO of You Walk Away responds with a list of some of the things You Walk Away provides.
1. We provide a personalized cease and desist letter addressed to your lender to stop harassing phone calls.
2. We will provide you with the amount of days you have to live in your house payment free. We stay on top of your walk away plan and keep you up to date with weekly progress emails. We also will notify you if the lender is taking longer than expected subsequently giving you more time in your home payment free.
3. You get a personal consultation with a highly experienced real estate attorney in your state, making sure that you know your rights and that you are protected by the law.
4. You will have an experienced YouWalkAway advocate available to answer any questions you may have during the entire process.
5. You will get a personal consultation with a CPA to go over any tax questions related to walking away.
6. You get access to our attorney network to answer questions via email about your foreclosure throughout the entire process.
7. You will be referred to a 3rd party BBB accredited law firm who has legally removed thousands of foreclosures.
full article
http://globaleconomicanalysis.blogspot.com/
[30]
“Yes, I’m 6′2, about 200 pounds.”
And unless Grim has been living on pizza and beer since the last NYC GTG, that’s all muscle.
It’s the only way to explain 200 lbs on someone that thin.
I thought that site was a spoof, go figure.
[45] redux
This, from the 5′ 11″ guy, 195 lbs, much of which used to be pizza and beer. I know, not that much different. But I am much wider than Grim.
grim… 200 pounds of twisted steel and sex appeal
There has been pizza and beer (actually, I’m probably nearer to 205 now), but I can still squeeze into a size 33/34.
DOW under 7000
anyone betting bi is conspicuously absent today?
Bottom! Rally on! Dow +300 today! I need more coffee, feels like it is going to be a long day today.
[49] grim
You suck. I can’t even remember 33/34.
SHore,
was thinking about NK and ROK this weekend.
The only reason the Nk population does flee en mass to china or ROK is because the borders are heavily controlled by militaries on both sides.
If china destabilizes or becomes engaged in a major conflict that distracts it from NK you could see a rather sudden destabilization of the korean peninsula.
From what i have read, the only way to stop a mass exodus into ROK by NK (whether military or not) is nuclear strikes. That is the only way to inflict enough casualties to stop the influx.
If you dont go nuclear then there is nothing you can realistically do.
I am not suggesting a nuclear strike, but that would be the only effective method to stop an influx from NK to ROK.
The used to keep nukes in that region for that very purpose, dont know if we still do, but i am sure we would have a nuclear sub somewhere in that region.
While china may not care about the consequences for ROK they would also probably have to deal with their own border own instability and the potential for rouge weapon systems.
I can’t even remember 33/34.
I fit into a 29/30….
53 nomde
lol i think i was a 33 in 8th grade
i admit im gravitationally challenged unlike the 2 dimensional tosh… 29 in. waist
[56] coop
remind me not to pick any bar fights with you.
I really shouldn’t complain. I’m currently a 35/36, but I would like to get some semblance of a flatter gut back. I am not holding out for a six-pack at my age, but I would at least like to lose the beginnings of a muffin top.
Apparently someone actually kicked the PPT out of bed at a reasonable hour this morning…. how long before they start drinking and it goes to hell?
grim/Rich: When one of you guys get a chance, can you please give me the status on mls# 2843717. Thanks.
“From what i have read, the only way to stop a mass exodus into ROK by NK (whether military or not) is nuclear strikes. ”
With Seoul just a few miles from the border, it would be overrn before anyone could do anything. There is no way ROK or U.S. forces would start shooting peasants who start streaming across the border in a foot-based version of the Marial Boat Lift. The wound is still raw about the allegations of U.S. soldiers killing unarmed Koreans during the “police action” in the 50s. Using “special weapons” to stop such an exodus would mark the United States as a pariah nation and subject the president and any member of the military who followed such an order as a war criminal.
Additionally, setting off special weapons on or near a border that is so close to downtown Seoul would appear a non starter. Whether the calculus changes for a strictly military attack on ROC, that is an interesting question. Still, using any weaponn that would send a cloud of fallout over Japan seems unlikely.
[41] Cindy,
It may amuse you to know (as I recently learned) that Eric Friedman, one of the deal attorneys that helped to create the monster that is Citigroup (incl. the Banamex transaction), was elected to be the next Executive Managing Partner of Skadden Arps.
Anecdote from Banamex: After the Fed approved Citi-Banamex, our group created these “deal toys” that consisted of the Fed order, with both bank’s logos, in a really nice frame. These were given to every attorney in the firm and at Citi that worked on the deal.
I took out the notice, threw it away, and kept the frame for one of my bar admissions.
#57 – I’m only tiny in the US. In the rest of the world I’m a huge strapping lad… honest.
Kettle 59 about the same time we all do here.
shore,
if we really want to play what if…. the US supposidly has a hand full of pure fusion weapons that produce very little if any fallout.
My point was essentially what you said, but you were clearer on the matter.
The interesting question is how do you resolve NK without bringing down ROK?
i’ve been on a weight loss/life change for the last two years and lost about 42 lbs in that time. I know it’s a loooong time to lose that amount of weight but I changed all of my eating habits and exercise programs, so its much more of a life change than a diet. although ill never be a 29(tosh:) i’d like to get to 34-36 at 210 shredded like grim.
Does anyone here have any experience with purchasing a property, either sfh, townhouse, or condo, in a vacation area and hiring a firm to manage the rental? I think that we are going to buy something in April or May of next year as a way of spreading out assets a bit but we want it to be something that will at least pay for itself and maybe generate a bit of income and provide us with a few weeks of free vacation each year (even if we need to paint etc. while using it to comply with any IRS regulations). Also, any suggestions as to locations? Our initial interest is in looking to something near water (lake or Ocean) and only someplace where we can purchase National Flood Insurance) so the USVI and PR are okay, BVI, Costa Rica, etc. are out.
http://www.iht.com/articles/2009/03/02/business/col03.php
International Herald Tribune on AIG – Lots about why the gov has no other option at this point but the article ends with Chris Whalen.
“The whole thing is ridiculous. How much longer are we going to do this? This is another band-aid, and we’ll be having this discussion again,” said Christopher Whalen, co-founder of Institutional Risk Analyics, a provider of analysis and ratings for banks.
The government cannot fund AIG’s operating losses, the numbers are too big, he added. “We should have simply restructured AIG.”
Citing its real estate exposure and structured exposure on credit default swaps, he said: “I don’t think this company is viable.”
cooper 48
and chest hair, don’t forget the chest hair….lots of chest hair…
just ask Chifi :)
sl
“The interesting question is how do you resolve NK without bringing down ROK?”
This appears to lie at the root of “policy” towards PRK; so we provide food, we provide oil, etc. We treat them like a crazy neighbor we just “know” has weapons burried in the yard and is likely to go on a killing spree at some point but the police are unable to do anything because, while his actions are offputting, they have not crossed any line and they lack probable cause to go digging up the yard looking for weapons.
“The interesting question is how do you resolve NK without bringing down ROK?”
This appears to lie at the root of “policy” towards PRK; so we provide food, we provide oil, etc. We treat them like a crazy neighbor we just “know” has weapons burried in the yard and is likely to go on a killing spree at some point but the police are unable to do anything because, while his actions are offputting, they have not crossed any line and they lack probable cause to go digging up the yard looking for weapons.
The next fun game will be to watch the other insurance big boys implode. AIG isnt the only one who is zombified, the others may ot be zombies yet but are definitely infected.
kettle –
we still have items there, don’t recall which SSBN task force would be over there, but IIRC, somewhere in the 7th fleet, there is at least 1 or 2 that is “cruising” around those areas..
w/r/t your comments on NK exodus.. i think the destab of that region has bigger implications.. don’t know that nuclear would stop that, unless you are talking about all out penetration on the entire peninsula.. but then we are talking about complete exodus of that land, not just NK.
What was the market high? It feels like we must be close to 50% of whatever it was.
From MarketWatch:
U.S. Feb. ISM index 35.8% vs. 35.6% Jan.
U.S. Feb. ISM index better than 34.0% expected
Repeat request from yesterday. Can someone with GSMLS access let me know the following:
Estimated close date for 49 Christopher in Monclair.
Status for 73 Christopher in Montclair? If UC, what is the estimated close date?
Thanks.
Shore,
maybe ROK needs to build a 21st century Maginot line and lay a few hundred million more mines.
I know the border is already heavily fortified, but with exports falling apart it could be a new “growth” industry for them.
Just imagine a 40ft reinforced concrete wall ala escape from NY, that spans the peninsula!
good eye sl
#48 correction-
grim… 200 pounds of twisted steel, sex appeal and dense chest hair.
(theme from 6 million dollar man playing)
[63] tosh
Funny. About 12 years ago, on my first trip to Europe, I was on the Paris metro and it struck me that I was at least a foot taller than everyone else on the car.
oh gambling gods are shining today.. FAZ up 13.5% and HBC down 18%!
Crazy,
not suggesting a nuclear “clearing” of the area, just playing with the issue.
I think one of the only ways to avoid the potential for regional destabilization due to NK falling apart would be for china to step and exert full control of NK, basically anex it. That could be in everyones favor.
Cooper,
Of course Lee Majors was something like 5’5″ tall.
kettle (77) –
i don’t know how many more mines they can lay, there is 1MM+ worth of mines there..
kettle (81) –
the problem is, PROC already can’t deal with its edges of society, how would it deal with yet another set of population who have no production value, and have high cost of maintenance?
they already are short on food in general and half the upcoming population (read: age 27 and below) no longer farm or do agri work, and have no regular jobs.. they are in for a serious blow, taking on NK would just aggrevate the situation.
Kettle: The Bi muzzle was at 90 but then Bi complained about the numbers his low being a 25 call, so it was 95 as I remember.
Grim #2: It doesn’t say anything about the consumer online banking. I have some $$ in an online account. I guess I should yank it out, eh?
I am enjoying my snow day. Alternating between work, watching Lil Gator dance to the Madagascar 2 tunes and watching the SRS real time numbers. Good times.
#79 noM:was on the Paris metro and it struck me that I was at least a foot taller than everyone else on the car.
Did you also notice (smell) they do not shower/bathe on a regular basis?
Mines, schmimes. Once a column of “mine fodder” gets pushed up and through a minefield, the ones that remain are of no importance. Add to that, Seoul is within howitzer range of PRK, yadda, yadda. Today, if you are on a subway train in NY, there is virtually nothing you or anyone in the rest of the train’s cars can do to prevent some wack-job from spraying the car full of bullets or detonating a grenade. We go on living, despite this fact, because that is what we do. The folks in ROK have a sword-wielding nutcase of a neighbor who can all but destroy them at a moments notice and they can do little about it except go on living. We may ultimately repel such an attack like we did before, but the nation will be a shambles. IF PRK goes on the attack, the ONLY way to stop them is for China to come in from the north. Would they? I don’t know. I suspect they are less thrilled with having PRK acting up than they once did. On the other hand, if ROK goes away, it forces the US a bit further away from China and it removes a source of high-end competition from the world stage.
67 Shore Guy
I have lived and have family on St. Thomas, VI. My sister has a condo out on the east end that was paying for itself through weekly rentals even after paying the onsite management company and the nasty USVI gross receipts tax. She doesn’t rent it anymore because she decided to leave NJ and run her accounting firm from down there. Email me if you want more info.
Dow under 6900
Gator,
Telecommuting today?
Just for fun, I say we close at 6,751 today.
Gator watching the same show (SRS). Daughter watching animal planet. If you guys want snow come up to Vernon we got buried.On the upside skiing should be good today, fresh powder.
82 shore-
i hear TV adds 6-7 inches and with the theme song Lee was larger than life(I had a 6million dollar man lunch box). Also, the fonz was 5’4 125lbs soaking wet fully clothed with leather jacket but no one could kick a jukeboxs’ ass like he could
NJ Coast. DYou can get my e-mail from Grim. Or, if you prefer, I will get yours from him. Just let me know.
[88] 3b
Yes, noticed that. Also, recall that everyone smoked, even on the subway cars.
Went back in 2007. Noticeably less smelly, and saw very few people smoking (and no one on subways).
BTW, the bathing thing isn’t just the french. My german au pair was pretty “fragrant” initially, then “got it” but still has a certain “air” about her from time to time.
Estimated close date for 49 Christopher in Monclair.
ANT CD: 04/21/2009
Status for 73 Christopher in Montclair? If UC, what is the estimated close date?
UC
ANT CD: 04/30/2009
[86] jill,
The consumer bank and the online bank aren’t going away. I still have cash there.
All the same, be sure to stay undre the 250K limit, and if uncomfortable, move it to another bank.
GE = $7.91.
Ouch!
Thanks, Grim. Much appreciated. Hopefully the close prices are available before our hearing!
These will both be comp killers for our neighborhood.
49 Christopher is assessed at $657,700 and it’s last LP was $499k.
73 Christopher is assessed at $751,900. It was listed at $498k. It was purchased in 12/03 for $464,300.
I think Montclair’s outside counsel for tax appeals is going to make an absolute mint this year.
Shore – Yes, I am taking a WFH day today. I hope we get some more of the powdery white stuff so I don’t feel so lame about it!
I am not holding out for a six-pack at my age, but I would at least like to lose the beginnings of a muffin top.
It’s monday morning. Where is this thread going?
By the way, I’ve gained all of 10 lbs since HS. Blessed metabolism.
It’s monday morning. Where is this thread going?
South, from the get-go, just like the market today.
Bi muzzle is 90. He said 25 and I said 75 when SRS was at 50. He said that wasn’t fair so I said, OK, 90. He would have bit at 80, but I added the 10 points for emphasis.
I’m 6’0 but carry a spare that puts me at 250. I recently did the South Beach diet and dropped to 180. I then dipped one slice of enriched white bread into a bowl of non-whole wheat pasta and the lost weight came right back. I am an unusual specimen. My pulse is 59, my blood pressure is low and my cholesterol was 170 the last time I checked it (family has a history of high cholesterol). I also have the stamina of a racehorse, most likely developed from playing high school football, running cross country track and frequent (at least I used to) hiking expeditions. Double shifting regularly in ice hockey games doesn’t hurt either.
I definitely don’t have a six-pack. I have closer to what might resemble a beer ball. Now who wouldn’t wanna tap that? ;)
1997. thats where we are on the dow. like the .com run up never happened!
#104 grim: If you could address #60 when you get a minute, I would appreciate it.
Given what’s going on with AIG. I don’t think I’m gonna have a chance to reload on some shorts here. Or else I’m just a contraindicator?
about 5-10, 165 here. down from about 175 three years ago when i didnt work out. boxing class is a great way to lose the lbs
The house in NP that Stu and looked at and mentioned before had another open house yesterday. The listing has been updated – same price, but it now proudly states that there is a tax appeal in progress. Almost 15k/year in taxes in NP. For that amount of money, I think I’ll stay in Essex County.
“Sellers are in the process of appealing the taxes. They wanted to make sure the
buyers benefit from this and are proposing the following:
They will fund $10,000 into an escrow account at closing, which equates to an
anticipated tax reduction of $2,000 per year for 5 years. If the tax appeal results in
an annual tax REDUCTION of $2,000 or more, the $10,000 will be returned to
seller, as the buyer will continue to enjoy reduced taxes going forward, as a result
of the appeal.
On the other hand, if the tax appeal results in an annual tax reduction of less than
$2,000, sellers will release to the buyer the difference between the tax reduction
and $2,000, multiplied by 5. In other words, if the annual tax reduction is only
$1,000, then the sellers will fund the buyer $5,000 from escrow. This way, the
buyers can be GUARANTEED an annual reduction of $2,000 in their tax bill,
either by the Borough or in the form of a rebate from me. If the tax appeal is
unsuccessful and results in NO tax reduction, then the buyer gets the entire
$10,000 released to them.”
I just saw a Kmart commercial for layaways.
Everything old is new again.
Too bad I got rid of Miami vice jackets and bell bottoms.
Hard Place:
“reload”
Why the heck would you have ever sold?
I haven’t sold a single share since SRS was >200.
Though, I have bought quite a few since then ;)
Gator,
49 Christopher
ANT CD: 04/21/2009
73 Christopher
ANT CD: 04/30/2009
“It’s monday morning. Where is this thread going?”
It is going down just like… the market.
3b,
Expired
3b,
Prior sale: $500,000 8/2/2005
Pretty sad when the market won’t bite on that property even when priced $60k below purchase price.
113
Oops, didn’t realize grim already answered.
Why the heck would you have ever sold?
Outsmarted myself… Portfolio is a bit of a mess. Positions all over the place. This upheaval has caused me to overdiversify. I used to be fairly focused. I may have to take some time to reorient myself next weekend.
#115/116 grim: Thanks. It was bank owned too, according to the listing.
I guess it will come back on with a new realtor,and perhaps a lower asking price.
“It’s monday morning. Where is this thread going?”
It is going down just like… the market.
And after muffin tops, soon before you know it we’ll be talking about saddle bags and cankles.
“cankles”
Priceless!
6.8k? Ouch.
Does my a$$ look too fat in these jeans?
“It’s monday morning. Where is this thread going?”
It is going down just like… the market.
And after muffin tops, soon before you know it we’ll be talking about saddle bags and cankles.
Don’t bring Hillary Clinton into this.
I wonder if Moffett had a ‘chute.
Would be fitting if he walked away with a multimillion dollar payday for only 6 months on the job.
All on the Government dime.
More cuts coming at my firm. This thing is not over by a mile.
Stu 105 I stand corrected, looks like it will be today the way things are going.
By the way 5’11” 280 not as fast as I used to be, older than most. Got down to 230 about year or so ago but like stu I saw a piece of bread & it was all for nothing. About that bar fight Nom you want me around. That is with you. At 230 I’m at 33-34 waist so that is about as low as I go since I was twenty or so. Going to try again shortly, back to the gym!
Victorian,
Law or financial services?
Speaking of cuts, my firm shut down a site out in the Midwest last week. Near 300 jobs eliminated at that particular site over the past few months.
Notice how the women aren’t giving up heights and weights?
Shore –
Financial Services. We cut 20% in Nov/Dec.
lost of course. Better we don’t open that can of worms anyway. Guys are a lot more blase about it.
“Notice how the women aren’t giving up heights and weights?”
Nom did! :P
Guess Greenspan was right, Dow 6K is Irrational Exuberance.
this is surprising. PNC always preached prudence and than they go ahead and buy NatCity with borrowed money.
PNC slashes dividend 85%
PNC Financial Services Inc., which recently bought troubled rival National City Corp. with the aid of a $7.7 billion federal investment, said today it would slash its quarterly dividend 85 percent to build capital.
The cut, to 10 cents per share from 66 cents per share, is based on “the long-term needs of the company, and not driven by any regulatory action, or any immediate need for additional capital,” the Pittsburgh bank said in a statement.
2 points to muzzle.
Mike 132
I know you guys don’t make a big deal.
133 Stu
Play nice.
Stu you are so close, 87.88 SRS.
so how much do you all think that these preferred shares will have to be converted in all the FS firms?
what is going on here– chip-endales tryouts?
“Stu you are so close, 87.88 SRS.”
I just hope Bi didn’t put his money where his mouth is. One can short SRS if they so desire.
so how much do you all think that these preferred shares will have to be converted in all the FS firms?
SOP being rewritten as we speak.
With out Hank P. the ppt has no one at the helm to pull some strings, T.G. doesn’t have the connections. This is good?
grim (142) –
i wouldn’t be surprised if the top 25 banks go semi-nationalized at the rate we are going.
don’t understand why we don’t let a couple of them fail though.
mike (85)-
90 is the bi-muzzle!
6’1″, 210 lbs. Useless for everything except running & playing soccer. Can still mark decent HS players.
Not bad for 49. If my legs go & I can’t play soccer, I’ll be dead within 5 years, though.
Grim, re the UAW:
Years ago, the National Writers Union had an affiliation with the UAW. Not sure how, but we were able to get the same group medical from Blue Cross of Michigan – great plan, reasonable cost. Then there was a ruling that BC of Michigan couldn’t provide coverage to people outside of Michigan.
The njre , height & weight,& SRS report.
Well we have done about everything else.
Strollers,clothes,cars,gambling,food,vacation spots. Lets just stay away from religion & sex and all will be well. Does John & an onion count as sex?
yikes says:
March 2, 2009 at 10:33 am
about 5-10, 165 here. down from about 175 three years ago when i didn’t work out. boxing class is a great way to lose the lbs
Wll Since everybody’s bragging…
I was 5’9″ 180 lbs 5 years ago…..
Funny story with BMI – according to BMI I was close to obese… Then my doctor checked my body fat % – 8.4%!!!
Got married, moved to NJ, had a baby, got real job… Now I can not go to the gym 5 days a week for 2 hours work-outs, and play beach volleyball for 4-5 hours on the weekends….
Lost 10 pound, but body fat went up to about 13% right now… Still wear my jeans from 7 years ago…. (“going out 300$ pair :), yes I am renter!)
P.S. No steroids here. Not even a protein drink. Sometimes I look at my pictures from 7-8 years ago and I am jealous of myself …
P.P.S. looking at the stocks – SOMEBODY MAKE IT STOP!!! IT HURTS MY EYES.
Last year I was predicting 11,000-10,500 as an absolute worse case scenario… Boy was I wrong!
I also said oil will be at 150-200 range….
It is good I do not put money were my “predictions” lie… Was saving cash for house down payment, only minimum contribution to 401k to get employer match…
It is good to be a “renter – wannabe homebuyer”!!
mike (148)-
Of a sort.
“Does John & an onion count as sex?”
For Lent, I now pledge to slag John as much as possible while he cannot be here to defend himself.
Clot 145 ref my 127. You reading fast today.
Sorry, Mike. Crapcast out all day yesterday; God only knows when it will conk again today. Speed-reading to catch up.
Good thing I have my portfolio perfectly “balanced” in 2x short ETFs and selected shorts of individual criminal enterprises, masquerading as publicly-traded corporations. :)
5’7″ – 139 – 143 (or so).
I run 4-6 days a week, started a few years ago after I quit smoking and gained a lot of weight (I was up to 160).
stu 141
if bi put his money where his mouth was he would have been wiped out long ago
Kettle1 says:
March 2, 2009 at 11:30 am
stu 141
if bi put his money where his mouth was he would have been wiped out long ago
If bi was a bank he’d be nationalized.
$1.50 to muzzle ;)
clot no pun but you kill me
“I’ll be dead within 5 years, though.”
Clot 150 to tell the truth I miss him , he is entertaining in his John sort of way.
“If bi was a bank he’d be nationalized.”
I wouldn’t even ‘bank’ on Bi being a ‘nationalized’ citizen!
Clot 152 No sweat, just cash & SRS for me.
Every February there is an article in the Philly papers about how vacation bookings are up at the Jersey shore.
Better book now or be shut out forever..I mean the season.
.83 to Bi muzzle
Every February there is an article in the Philly papers about how vacation bookings are up at the Jersey shore.
Certainly seems that way.
… can anyone find the quote where greenspan said the dow falling would be irrational exuberance?
72 cents to muzzle.
.75 till the muzzle
d2b 161 “Now is a great time to buy.” They are so full of it. Blah blah blah = NAR.
.48 to Bi muzzle
Saw 89.92 briefly.
4 cents to go!
.15 to muzzle
DOW 6850. on a lighter note thought this was funny…
These are actual comments made on students’ report cards by teachers in the
New York City public school system. All teachers were reprimanded (but, boy, are these funny!)
1. Since my last report, your child has reached rock bottom and has started to dig.
2. I would not allow this student to breed.
3. Your child has delusions of adequacy.
4. Your son is depriving a village somewhere of an idiot.
5. Your son sets low personal standards and then consistently fails to achieve them.
6. The student has a ‘full six-pack’ but lacks the plastic thing to hold it all together .
7. This child has been working with glue too much.
8. When your daughter’s IQ reaches 50, she should sell.
9. The gates are down, the lights are flashing, but the train isn’t coming.
10. If this student were any more stupid, he’d have to be watered twice a week.
11. It’s impossible to believe the sperm that created this child beat out 1,000,000 others.
12. The wheel is turning but the hamster is definitely dead.
replace child/student/son/daughter with the following:
1-Barney Frank
2-Nancy Pelosi
3-Hank Paulson
4-?
5-?
6-?
bye bye bi
89.97
89.99 (you gotta be kidding)
90!
90.00
BINGO! 90
So let’s get this straight. Bi is aloud to talk, but he can’t mention SRS ever again. I am smiling ear to ear.
And the crowd goes wild.
Pension plans swings severe:
http://3.bp.blogspot.com/_H2DePAZe2gA/SawInnrmPRI/AAAAAAAAIg0/GmPw1yQYWnc/s1600-h/og030209d.jpg
For all those who don’t care about this SRS junk…Thanks for putting up with it. Things should calm down going forward from here.
now if only north carolina can lose in the ncaa tournament … all will be right in the world.
aloud instead of allowed. That was quite Freudian no?
[137] lost,
Stu doesn’t have to play nice. He can always invite me to lace ’em up for hockey, give me a stick, and we’ll find out whose gonna be whose b1tch. :-0
FWIW, when I last played hockey, I led our league in penalty minutes (which means I was nastier than I was sneaky).
HIG and GE = heading towards the graveyard.
I love watching grown men beat each other up with sticks.
NYT polls the “experts” on when the down turn stabilizes
http://www.nytimes.com/2009/03/01/opinion/01endintro.html?_r=1
Stu – Does 184 make Nom the Ken Daneyko of the NJREREPORT?
6 ft 1, 220 lbs. I got down to 180 about two and a half years ago. Working out and eating properly are all well and good, but gaining weight is much more fun.
[146] clot
No fair slide tackling the h.s. kids.
Aw, what am I saying? It’s fun and they have to learn it sometime.
[188] gator
An old, fat, slow Ken Daneyko, yes.
Gator:
I’m not ready to retire Nom’s jersey just yet. Hey Nom, if you are still up for playing, a few spots might open up on our team for the 2009/2010 season. Though, it’s a no hitting league (supposedly).
“http://www.hna.com/leagues/stats_1team.cfm?leagueID=5750&teamID=173720&clientID=2296”
yikes (182) –
nc hasn’t won in a while, they are a good team, but they havent won since they got hansbrough (who probably won’t be that good in the NBA either)
and they will choke again this year.
[192] stu
No hitting. Darn. It was the only thing I did well on the rink.
Check your “professional networking” site for an invite and get back to me.
Not sure about the fat, but wasn’t Daneyko old and slow? Stu lost quite a bit of our money betting his friends that the Devils would never retire his number.
I hate the Devils
grim says:
March 2, 2009 at 8:49 am
sas,
Yes, I’m 6′2, about 200 pounds.
6′2, 201 pounds with a tee shirt
I haven’t changed my vacation plans, and don’t intend to.
I’m getting married this April, and my wife-to-be and I are going to beautiful Antigua, home of the legendary Stanford Financial. I hear they offer CD’s at a guaranteed 14% rate!
Hopefully we won’t encounter any civil unrest or antipathy towards Americans (at least more than usual).
I got a great rate for my wedding and vacation due to this “Global Crisis” thing they keep talkin’ about. WoohoO!
Clotpoll says:
March 2, 2009 at 11:22 am
6′1″, 210 lbs. Useless for everything except running & playing soccer. Can still mark decent HS players.
Not bad for 49. If my legs go & I can’t play soccer, I’ll be dead within 5 years, though.
clot: you are 49? That news article from the weekend quoted your age as 67….
Remember, it is great time to rent at the Jersey shore. The real estate agents say so.
Is bi’s muzzle based on the daily closing price?
I bought FAS March 5’s in anticipation of the special meeting at 2PM.
Don’t chu kno I’m loco?
184 Nom
I love hockey! That’s a game (or fight) I’ll go see!
196 d2b
Me too. And their fans.
Dow closing in on 6800.
[192] stu
Until I get back into some semblance of shape (which may take another lifetime), the only position I would be useful for is defense. Don’t know if that affects your thinking.
“Exxon Mobil ’08 pension deficit doubles to $15 bln”
http://tinyurl.com/btwgjn
The Snake-Oil Oracle of Omaha?
n his recent letter, Warren Buffett defends the trade that many believe made him a hypocrite. While his explanation has some merit — would we expect anything less from the Oracle? — it ultimately falls way, way short.
Mr. Buffett famously has called derivatives “financial instruments of mass destruction” – but it hasn’t stopped him from using them rather extensively.
In fact, let’s really think about this. Mr. Buffett’s core business is insurance. An insurance contract is nothing if not a derivative. Its payoff is based — derived, as in derivatives — from the value of something else.
http://www.minyanville.com/articles/buffett-Warren-CDS-options-brka/index/a/21393
http://uk.reuters.com/article/oilRpt/idUKN2733472420090227
I have a trench coat that once belonged to Ivan Boesky, looking through some personal pics & pics on the web to see if I can find him wearing it in any sorts of pics.
anyone have pics of Ivan F. Boesky?
from the google?
SAS
Nom,
We totally suck. Our team has 5 players and 13 others who think they are players. It’s really not that terribly serious. We are by far, the oldest team in the league and perhaps older than any team in any league (except perhaps a few bridge leagues). I’m like a spring chicken (at 38) among these dinosaurs. Basically, if you are interested in joining this aging ship of fools next year, you are more than welcome to. Everything else you need to know is available at HNA.com.
“Exxon Mobil ‘08 pension deficit doubles to $15 bln”
Ahh, there’s the other shoe. I wasn’t expecting it to drop for a little bit though.
5-10 165. im a runner, surfer and soccer player so i dont have much muscle and still kind of young so not much fat either.
If i stuck to my original prediction, i’d be buying stock like crazy today. Unfortunely my outlook changed to reflect the deteriorating environment, although i may start picking up some hi dividend stocks, commodities and quality corporate bonds at 6,500.
Here is a pump and dump for the board, XTO, apparently great management, decent dividend and they are getting hammered today. i may start accumulating that one first.
“trench coat”
its a light brown color.
I once had a run in with that guy back in the day. Obviously, an offline convo.
Talk about a unique fellow. wow!
SAS
plume (190)-
Two-footed, studs up.
Potvin sucks.
Chi (199)-
Stop baiting me. I could snap at any minute. :)
A bunch of wimps here. I’m 6’2″ 275 lbs of nothing but muscle. I work out every damn day and routinely out sprint 18 year olds. Yes, I choke these young punks on heel dust in a foot race.
That’s the main reason why you don’t want to have people like me pissed off and taking to the damn streets. Somebody might get hurt.
Tard (217)-
Are you Mitchell?
BTW, where’s Mitchell lately?
“reinvestor101”
big, fast, and strong.
wanna be my bodyguard? I pay well.
however, you have to be able to fight your way out of a paper bag.
:P
SAS
One kid did it for me.
Used to be a gym-rat. Loved to go…the night I met my husband-to-be (gold had just tripped over the $400 mark – I was researching it that day to buy some) I told him, “You’ve got 2 hrs and I’m outta here at 9:30” to get to the gym in time to work out.
That date lasted til 0300…almost 6 hrs.
5’2, 125 lbs of toned, trim muscle.
Life consisted of work, work out, invest.
Fast forward 6 or so years. Married, one kid, one soul-evaporating career, gold at $900, a pile of stress and I can’t find a thing to motivate me to work out again.
I’m not a typical “Bergen County Wife” so don’t have a personal trainer, dietician, aesthetician, stylist or a spa or country club membership.
Maybe I could enlist my l’il brother to help me…he was the “shot in the arm” I needed way back when and I am in way-worse shape now.
God knows I really need the help. I even thought of joining the Krav Maga class in Ridgewood but just can’t seem to do it.
Thanks for letting me vent… I feel better now. Even though a bit winded… :)
sl
sas (219) –
bigger they come… harder they fall. ;)
sl (220) –
there is a krav maga class in ridgewood?
krav maga
Hmm, that looks interesting. I had never heard of it before, thanks sl!
I’ve always wanted to try fencing. It looks fun.
Ridgewood has one of the few NJ advertised krav centers, no?
wife and I were talking yesterday about how it is impossible to make long term plans right now. We have no idea which industries/companies will be nationalized and if they are, whether the jobs that remain will go to D.C. Right now, it seems that based on what is proposed, 30% of the economy will be gov’t based going forward. The way things are going, who knows whether this will be 50% in a couple of years.
Just popping on. Nice snowy day out today. Homer just has to drop some knowledge about the housing kaboom. People say it was gonna bounce back soon. Homer said no it won’t. Now the Jidiot Bernakie says it will be another 2 -3 years for it to bottom out. 2012 will be the bottom. at 50% off 2005 prices. From 2012-2015 it start to level out. And there will be a steady rise at 2-3%/year. Hopefully we have all learned from mistakes of this stupid bubble.
On another note, I am looking in PA. Up in Monroe County I can get a 2000-3200sq foot house on about an acre of land for 160k or less. Plus it would only be a little over an hour commute for me since I don’t work anywhere near the city. And as much as I don’t like long commutes or agree with it. I am too poor to afford the ghetto…Bound brook, plainfield I saw houses there, 3 bed houses not fancy at all, property taxes were over 8000/year. You have to be a crack to spend that much on taxes in the ghetto.
I will take my chances as a border hopper, and while NJ may have better schools, they more cater to rich yuppies. I didnt get extra help I almost failed out of High school, and the one I went to was rated as in the top hundred at the time. So just cause its rated as a good school does not mean its all that great.
“A bunch of wimps here. I’m 6′2″ 275 lbs of nothing but muscle.”
http://tinyurl.com/REinvestor
At least I came from a good gene pool :)
pics of my great, great GP, and great GP and grandparents!
http://www.facebook.com/album.php?aid=2020371&id=1189971028&l=531b0
sl
Krav Maga? That sounds very sophisticated doesn’t it. But then again, Ridgewood is different.
222, crazy
Yep.. right in downtown near sunny wok or further up.
sl
Homes (226)-
Say hi to Dwight Schrute when you get settled in there.
“I am looking in PA. Up in Monroe County I can get a 2000-3200sq foot house on about an acre of land for 160k or less.”
Krav Maga is Hebrew for “contact combat” I think…
It ain’t karate or tai kwan do… I’ll tell you that.
It’s survival fighting.
sl
krav maga = what you see at the appetizing counter on a busy day
Ben Stein, 3/18/2008:
http://finance.yahoo.com/expert/article/yourlife/72252
“Buy Now, Reap Later
In a word, this is going to be a rocky time for a while. Good people will suffer. But we’ll get through it, and there will be no Great Depression in the foreseeable future.
If you have a good, long time horizon, it’s time to buy European stocks, emerging markets, even our own market. But don’t let yourself get short of liquidity. If you have a few years of cash and bonds on hand, get some stock now while there’s blood in the streets. The good times will come back when you least expect them.”
3/18/2008…DJIA was at 12,392.66
I’ve seen my own 88 y/o MIL use krav maga to get the last piece of good smoked sable.
Stu (234)-
Has Ben Stein been lynched yet?
If not, I expect to see that when the weather warms up. Could be a good way to end a riot on an up note.
SKF knocking on 200.
“SKF knocking on 200.”
Better reestablish the short ban!!!
Bunch of morons in charge.
#226 homer:and they more cater to rich yuppies.
There are that many of those around anymore. It is a whole new world.
Poor is the new rich.
C: $1.21
BAC: $3.41
GE: $7.76
Get those presses rolling!
2 pm pump right on schedule.
still_looking: Whenever you want to get back to the gym, let me know. I will be more than glad to get you motivated again!
Clotpoll says:
March 2, 2009 at 1:53 pm
Poor is the new rich.
i thought poor was the new black?
I was 125lbs at 5’5″ before I got pregnant. After my first I set my mind to losing a stubborn 12 or so. As soon as my gym attendance became about getting a better nights sleep, (had a crazy reflux baby and I was going insane with my own sleeping disorder) and not about thinner thighs, I was able to go 5-6 days a week every week for an hour a day and the weight came off. Also, I eat a big lunch and small dinner every day, that works too.
A big iced coffee is my daily dessert, keeps me in line.
I’m due at the end of this week, nursing exclusively (awesome weight loss plan btw, sorry guys) and I hope to be back at my fighting weight by May.
Losing weight is really hard and it took me over 2 years just to lose 12 pounds. People who do it on a larger scale should feel very proud of themselves.
One last thing, I will not, WILL NOT step on piece of gym equipment without my Ipod. I credit that thing a lot.
This female has reported in. I did enjoy reading the men folk’s body image anxieties ;P
Stu,
Wow $1.21 for C. It is a good thing the NYSe has suspended its delisting rules. Perhaps C will soon be trading under the symbol FED.
Red is the new black, at least for accounting purposes.
[244] clot
Hey, that was my line.
[245] barb
What anxiety? I’m old, fat, slow, and weak, and have no problem with that.
Just a reminder why all of your working out is pointless:
http://en.wikipedia.org/wiki/File:YouveComeALongWayBaby2.jpg
[249] skep
Hey, you found my yearbook photo!
Now here is a vote of confidence. Good to know that the democrats here have the president’s back.
(from Bloomberg)
“New Jersey Senate President Richard Codey, who served as governor in 2004-05, said he withdrew all his money from stocks in September, opting for bonds and certificates of deposit.
“My thing back then was, ‘Hey listen, I don’t see this thing getting any better,’” the Democrat said in an interview, declining to say how much money was involved. “
Anyone want to be an English teacher in Taiwan?
http://www.careerjet.com.tw/job/98e57866017adbb623c95943d765e98d.html
““My thing back then was, ‘Hey listen, I don’t see this thing getting any better,’” the Democrat said in an interview, declining to say how much money was involved. “”
That clown is interviewed on WOR every couple weeks and is always saying how things will turn around soon, not to worry, O’bama’s stimulus plan will help …yada, yada, yada…lying crook
yikes (244)-
Feedsack brown is the new black.
http://homepages.rootsweb.ancestry.com/~sherry/BackToThePast/feedsackclothing.html
#253 – 540 hours a week?
#253 Maybe its like lawyers hours? :)
Taichung is pretty interesting city, all the stuff to do that Taipei has, but the cost of living is much lower.
Disclaimer: Have some in-laws living there.
nom,
I thought you were young, suave, and dashing :)
228-Stu,
I’ve had it up to here with you Mr. Comedian. I can hardly wait until the next damn gtg joker. We’ll see how damn joking you want to do f2f.
Today. Eric Oberg, TheStreet.com.
Another scumbag blaming it all on the elimination of the uptick rule.
Just another reason to hate Cramer:
“There is a very good chance that one of the biggest consequences of the removal of the uptick rule has been the proliferation of these vehicles, which give leverage and shorting power outside the margin rules. Their impact has been astounding in some cases, creating indiscriminate selling pressure and volatility in some sectors. Remember, just last Friday (Feb. 20), if you summed up the dollar volume in the 1x, 2x, and 3x short-sided ETFs based on financials and subtracted the dollar volume in the 1x, 2x, and 3x long ETFs based on financials, you’d still have close to $18 billion dollars of selling pressure brought to bear against the financials, representing a good chunk of the daily trading volume of the individual index constituents.
I will always be curious as to what the decision would have been regarding the uptick rule had the initial pilot program been carried though to today — a period of high volatility, declining prices and spiraling deterioration in the credit crisis. Even if the uptick rule still existed, maybe we would have gotten to where we are on our own anyway, but I can’t help but wonder if the same conclusion would be have been reached regarding whether or not the uptick rule made sense.”
http://www.thestreet.com/story/10467076/1/ultrashorts-and-the-fall-of-the-uptick-rule.html
All Hype.
Ready.
Throw me a rope, I’m sinking fast.
sl
Let me tell you something. I ain’t no damn hindenburg dammit. I’m a sleek v-shaped fighing machine. You’re gonna regret that insult youngster.
Looks like the PPT’s mid-afternoon intervention just went up in smoke.
Maybe the Caribbean Desk boys just scored some Red Stripes and went back to the cricket ground.
Tard (262)-
Exactly how short are you? My guess is 5’5″.
The Napoleon Complex may be one way of helping us understand you (that, and some understanding of why trolls troll).
clot, 255
Did you see the outfits my misfit ancestors were wearing?
Look at the one with my great great grandfather in it…it looks like they took the picture in a bomb shelter – see the floor?
The clothes make me itch just looking at them…circa late 1800s!
sl
from denniger
Right now the cost of rolling over that debt (which is his solution) on the short end is about 23 basis points, or 0.23%.
But look back just a short while, when “growth was robust”.
What was the IRX?
50.45, or 5.05%, twenty times higher.
No, folks, that is not a misprint.
The cost of government financing right now is extremely low, and Treasury has shifted an unprecedented amount of funding to the short end of the curve, compressing duration downward massively.
What happens when the yield curve shifts upward, especially on the short end?
So the US government has an ARM……. those interest payments are going to be a b1tch!
its only a matter time before the cost of borrowing goes up and we wont be happily chugging along at 4.2% growth 5 years from now no matter how hard obama may wish for it.
Muzzle territory again.
sl (265)-
Those are actual people?
vodka (266)-
Add to that the fact that- as best I can tell- we just gave AIG both a toggle on their debt AND a giant pick-a-pay exploding option ARM.
Good times coming!
Getting firmly into muzzle territory.
clot:
found an article profiling RE101 and his body building achievements
http://tinyurl.com/6d93k5
This has the potential to be a very nasty last hour of trading.
Nary a bid in sight.
[258] scribe,
At the last GTG, I was.
Guess it depends on your definition of young, suave and dashing. I can’t match Grim in that department. I look like his dad.
vodka (271)-
Someone should get him into p0rn.
I like the shot of him with the cricket bat. Wonder if the PPT trading team has him on retainer?
six-seven
268….clot
uh. yeah… half my gene pool.
Thankfully the f.ucked up side, [eg my sociopath sister] is the other side…
wouldn’t bother posting those pics as they may as well be mug shots!
sl
[275] grim
back over. Think the dam will hold?
(said the happy folks of Johnstown)
OT, a bit-
We talk about “little black boxes” all the time around here and I haven’t seen this article posted.
But, it’s an interesting article from Wired magazine on David X. Li’s Gaussian copula function which was used to develop most of the black boxes on Wall Street.
http://www.wired.com/techbiz/it/magazine/17-03/wp_quant?currentPage=1
(Hope this isn’t a repeat.)
Dow down something like 3.7% right now, down 263 points.
To put that in perspective, a 3.7% decline when the market was nearer to 14,000 would be a decline of 522 points.
Ouch.
has anyone here seen TAKEN? i gather some of you guys would like it.
in a nutshell – guy’s daugther gets kidnapped in Paris, and he has like 72 hours to find her before she gets sold off into prostitution.
the acting is dreadful, but the action is decent. lots of killing and some messed up stuff. for $10, it’s not bad
GE Capital Credit Default Swaps Now Require Upfront Payments (GE)
General Electric Capital Corp’s debt is being treated by some credit traders as if it had already been reduced below triple-A. The clearest indication of this is the sellers of insurance on the debt are demanding an upfront payment of $850,000 in addition to an annual payment of $500,000 in annual payments to insure $10 million of GE Capital debt.
Yikes,
the acting is dreadful, but the action is decent. lots of killing and some messed up stuff. for $10, it’s not bad
I think you’re onto something here. Instead of rating movies by stars, they should be reviewed in $$. Like, “I just saw Tyler Perry’s new movie. $1.63”
yikes (i kid, i kid) 280
has anyone here been TAKEN? i gather some of you guys would hate it.
in a nutshell- guy’s life savings gets kidnapped in a Ponzi scheme and he has like 72 months to figure out it’s a ripoff by a bunch of whores.
the bad actors are dreadful, the returns used to be decent. some made a killing and too much messed up stuff. for $10 billion, it’s too damn bad.
(sorry, had to do it… :)
sl
The clearest indication of this is the sellers of insurance on the debt are demanding an upfront payment of $850,000 in addition to an annual payment of $500,000 in annual payments to insure $10 million of GE Capital debt.
______________________________________
Heading to the graveyard. So is GE the Sunday night bailout??? Any thoughts?
Regulators downplay risk of bank nationalization
I guess it can quickly change from “not imminent” to “imminent”.
I think that was exactly same words used before Iraq war.
Obama and friends must be sweating bullets. AIG, GE, Citi, and BAC are all at deaths door. If they let any of these companies die without bailing out the foreign investors they are toast.
If they dont kill these companies they will quickly bleed us dry. heck they Obama and friends already bailed out china with the 60 billion AIG subsidiary deal.
So when does ‘Too big to fail’ become ‘Too big to bail?’
Where’s Bi?
srs is bustig loose, should I take some off?
Someone last week talked about Black Monday. Don’t remember who but that was a prescient call.
Gotta go, work calls. Will be lurking for foreseeable future.
He times 3,
I have my first 1/6th set to sell at 100.
plume (290)-
Nah. It’ll get even worse. Now my call is Black Tuesday.
SRS, lock and load. Plenty here said it’d never see 150 just a few months ago.
Funny video showing kramer contradicting himself.
http://www.youtube.com/watch?v=tCFjc5keNM4&eurl=http://immobilienblasen.blogspot.com/
tettering on 6600????
I am all in still. If anything this makes many of these Reit’s positions more dire.
Clot:
And still no black day. Just wait until that day comes.
Thoughts on this Dow chart from 1928 to present?
http://finance.yahoo.com/charts?s=^DJI#chart1:symbol=^dji;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off
Right about 1985 something caused things to change. 401Ks gaining popularity?
earlier today i thought my call of 6750 was a bit low. Now? Wow!
Oops, the blog doesn’t like that Dow link.
Try this one:
http://shorl.com/trenynedenomo
You guys watch it get ahead four steps only to watch it take three back….time after time after time again.
That’s a net gain of one step for each seven taken.
dow looks like apollo creed getting killed by the russian in rocky 4.
too bad the dow has to come out of the corner tomorrow.
Qwerty:
Set your chart to logarithmic. Otherwise it means nothing at all.
The brokers sure made a lot of money on C today – 1 Billion Shares traded!
Zieba:
First off, if you can definitively tell me when it will go up and when it will go down, I’ll sell after each step. Second, You must pay commissions. Third, the difference between long and short-term gains can make a significant difference in how much you owe your uncle at the end of the year. Day-trading is for suckers.
6947, I believe is half off the high (Set in the summer of ’97, no?).
Nope 14 and change in oct of ’07 oops
Well, in any event. Wow.
Even ‘Dr. Doom’ Is Scared: Economy Much Worse Than Roubini Predicted
http://finance.yahoo.com/tech-ticker/article/197164/Even-%27Dr.-Doom%27-Is-Scared-Economy-Much-Worse-Than-Roubini-Predicted?tickers=^dji,^gspc,QQQQ,DIA,SPY
“In sum, Buffett and much of the rest of humanity are just now coming around to Nouriel Robuini’s way of thinking, the economist known as “Dr. Doom” is upping the ante on his longstanding bearish views.”
You want the truth?? You can’t handle the truth –
http://dshort.com/charts/SP-Composite-regression-charts.html?SP-Composite-real-regression-to-trend
NYTimes Op-ed by William Poole,
Stop the Bailouts
The unrelenting anger across the country over bailouts of corporations and households that made unwise and even irresponsible financial decisions is influencing federal policy. Punitive measures, like forcing companies receiving federal dollars to cancel employee events, will increase uncertainty over where the government will strike next in its effort to deflect public outrage. Instead of more bailouts, we need a clear and consistent path to fundamental reform of our financial system.
William Poole is a senior fellow at the Cato Institute and the president and chief executive of the Federal Reserve Bank of St. Louis from 1998 to 2008.
Qwerty,
My opinion is that something changed in 1982 that triggered the growth spurt. I have suspicions that it was a regulation that was changed by Vokler. There is apparently some discussion of such regulation changes in the book “Liars Poker” but have not had a chance to read it. has anyone else?
“Right about 1985 something caused things to change. 401Ks gaining popularity?”
His name was Alan Greenspan. He’s been was the king of bailouts. But he didn’t do it Bernanke style. He just always lowered interest rates.
Gimme another 1,000 off on the DJIA and we’ll be going long. Nice charts Victorian.
Vic 309
The Corrections in your chart tend to be of the same magnitude as the overshoot.
We overshot by a max of 153%………. how low do we go?
I have said before and still believe that we have a very good chance of dipping back to 1982 before settling somewhere around 1990. this chart seems to show support for that
“My opinion is that something changed in 1982 that triggered the growth spurt. I have suspicions that it was a regulation that was changed by Vokler. There is apparently some discussion of such regulation changes in the book “Liars Poker” but have not had a chance to read it. has anyone else?”
What changed in 1982 was that inflation was squeezed out of the system, the recession ran it’s course from the fallout of easy money of the 70s. Savings increased which fueled investment. The bull market was created only after America was willing to endure some necessary pain through a recession.
What happened in the 80’s? The PC!
“Laid-off professionals turn to “survival jobs”
http://seattletimes.nwsource.com/html/businesstechnology/2008798590_jobs01.html
ben,
a reasonable point, but i have dug through a lot of data and once again my lay opinion as a non-finance expert is that there had to be systemic changes to cause growth at such levels. that level of growth was very rare previously and never as long lived.
While bringing inflation under control certainly played apart, it took more then that
on a related subject, look at 1995
http://www.google.com/finance?chdnp=0&chdd=0&chds=1&chdv=1&chvs=Logarithmic&chdeh=1&chdet=1236029945134&chddm=3978034&q=INDEXSP:.INX&ntsp=0
That just so happens to be when derivatives took off. you can find the derivatives data from OCC Reports .
Reinvestor (259):
“I’ve had it up to here with you Mr. Comedian. I can hardly wait until the next damn gtg joker. We’ll see how damn joking you want to do f2f.”
Oh, the humanity!
OCC reports
http://www.occ.treas.gov/ftp/release/2008-152.htm
stu
Oh, the humanity!
if we are talking about RE101 i think you meant this…
http://farm1.static.flickr.com/2/1362599_02bcdea730.jpg?v=0
In the 80’s, it was a time when the boomers were just getting full swing into working in the real economy.
They were told, work hard, and invest all your mony into 401k & pension funds, so you can “retire”.
That was the pump. The boomers funneled so much money onto Wall St, via planned consolidation.
aka: The pump
Now, as the booms are approaching the retirement age, and will be wanting to start tapping that so called “saved” or “invested retirement accounts”, they will find its empty. The money is gone.
Its been moved offshore, or into the hands of a few. Thanks to the boomers.
and now, they are being left with nothing as they haved served their purposes, to give Wall St consolidation mogels your lifetimes earnings.
aka: The dump
welcome to the new Banana republic.
(and i don’t mean that silly place in the mall)
SAS
you are watching the final steps of what appears to be a
Coup d’Etat
SAS
How Washington can prevent ‘zombie banks’
By James Baker
Beginning in 1990, Japan suffered a collapse in real estate and stock market prices that pushed major banks into insolvency. Rather than follow America’s tough recommendation – and close or recapitalise these banks – Japan took an easier approach. It kept banks marginally functional through explicit or implicit guarantees and piecemeal government bail-outs. The resulting “zombie banks” – neither alive nor dead – could not support economic growth.
This is not a call for nationalisation but rather for a temporary injection of public funds to clean up problem banks and return them to private ownership as soon as possible. As president Ronald Reagan’s secretary of the Treasury, I abhor the idea of government ownership – either partial or full – even if only temporary. Unfortunately, we may have no choice. But we must be very careful. The government should hold equity no longer than necessary to restructure the banks, resume normal lending and recoup at least a portion of taxpayer investment.
questions to ask yourself:
“where is all the missing money and how do we get it back?”
“how big is the missing collateral black hole and how will it be resolved?”
SAS
Kettle1:
That’s a riot, but it was missing a little something…
http://tinyurl.com/Missingsomthin
“Collateral (finance)”
http://en.wikipedia.org/wiki/Collateral_%28finance%29
SAS
Depeche Mode…soundtrack of 2009…..
NIMBYs and old people make excellent defences against recession
Santa Barbara has watched all this from the sidelines. In this slow-growth stronghold, anything other than a glacial pace of development is anathema. Mr Cushman says that only one block of flats for rent has been built in the region in the past 30 years. And some want to curtail growth further. Later this year the city will decide whether to reduce the maximum height of downtown buildings from 60ft to 40ft (18 metres to 12 metres). “We like Santa Barbara the way it is,” says Marty Blum, the mayor.
I guess even in NJ we have strong NIMBY movement. May be that will save the day.
#329 chifi
I always thought Depeche Mode and Wham were the same group.
Was I wrong? :P
And all along, I was expecting ChiFi to say that the markets’ rapid increase between 1980 and 2000 correlated with the formation of Depeche Mode.
“how big is the missing collateral black hole and how will it be resolved?”
so, unitl someone address the above question.
you will never get your “change”
Omama = Bush = puppets
puppets for a larger system, that you don’t see, so you can throw rocks.
welcome to the real world.
SAS
I think that capitalism would work alright if the government wasn’t beholden to the corporate lobbies. Obviously, regulation doesn’t mean squat as long as the ‘Friends of Mozillo’ continue to exist. The problem with capitalism is greed and as long as the government is corrupted by this same greed, then capitalism is doomed to repeat this vicious cycle.
Stu just mentioned that The Jonas Brothers are from Wycoff. I am so ashamed that he knew and was able to retain this piece of information.
We’ve never had much capitalism in this country but we’ve had plenty of crony capitalism.
322 Kettle
That was hysterical. DH is wondering why I’m laughing so hard.
The markets back to 96/97 levels,yet many sellers in our area are still asking 2005/06 prices?
Does not make sense housing will surely follow.
“Does not make sense housing will surely follow.”
Yes it will. (Gary, insert rant here)
When are they going to take some of that stimulus and fix the crack in the liberty bell?
They might get some tourists if the thing wasn’t busted.
Depeche Mode for the hetero-onion set…..
http://www.youtube.com/watch?v=pfGzWntCbxY
Any plans for a March gtg;it has been awhile.
Where’s bi?
#341 – chifi & lost – Have you heard Nouvelle Vague’s cover yet?
You may be interested, or not.
Lost-
We hate the Devils for different reasons. My team wears orange and black.
SAS – what is this ‘larger system’ you speak of
hope!
change!
The good news is that the odds of this recession lasting into the fourth quarter of 2009 are below 50 percent. But the dice will be thrown each month, and we could get lucky and be out earlier — or unlucky and be stuck in the doldrums.
http://www.nytimes.com/2009/03/01/opinion/01chauvet.html
My first step was going to http://www.jeep.com and using the “Build My Own” feature that is prominently displayed on their website. I went through the checklist and chose the most basic features and was surprised to see that this vehicle would only cost about $24,000. Chrysler is offering employee pricing this month along with many other incentives. The stars were aligning and I was very excited and ready to make my purchase. I printed a copy of the Wrangler Unlimited that I just “built” and set out for a dealership…
[20 paragraphs omitted]
This has easily been the single worst buying experiences of my life. America, I assure you I am trying to do my part to stimulate the economy. Jeep, I desperately want to give you my money. Did I mention that my 2500 dollars was a tax refund from Uncle Sam?! Jeep, feel free to e-mail me at brucebrucek@gmail.com. Only e-mail me if you want $25,000 though. I can have a check ready as early as this Wednesday.
Money Can’t Buy You Car
grim, 348 in mod
“The good news is that the odds of this recession lasting into the fourth quarter of 2009 are below 50 percent. But the dice will be thrown each month, and we could get lucky and be out earlier — or unlucky and be stuck in the doldrums.”
That is just about the most retarded thing I have ever heard. I can’t believe someone pays him for that drivel.
341 ChiFi
Never do that again!
344 Tosh
That’s almost as good as the Rammstein cover of Stripped.
345 d2b
Flyers?
#351 – They do a great version of This is not a love song, very good stuff.
My current fave of odd covers is Messer Chups, a Russian Rockabilly group doing a cover of Ministry’s Stigmata.
hobo 349
so he is saying we might or mioght not saty in a recession for some unknown period of time? very helpful
“so he is saying we might or mioght not saty in a recession for some unknown period of time? very helpful”
No, he is saying that in any given month there is an 8% chance of coming out of recession. It’s strictly a random probability according to him.
He sounds like he has been taking economics lessons from Rush Limbaugh.
354 Tosh
I love it. But it’s not on iTunes. Do you have the single?
354 Tosh
I meant that I love the Messer Chups cover.
#358 – No, I can’t find it either. It seems only to exist on youtube right now. :(
360 Tosh
If you find it please let me know. Damn.
#361 – I let you know if I hear anything.
WASHINGTON – Despite campaign promises to take a machete to lawmakers’ pet projects, President Barack Obama is quietly caving to funding nearly 8,000 of them this year, drawing a stern rebuke Monday from his Republican challenger in last fall’s election.
Arizona Sen. John McCain said it is “insulting to the American people” for Obama’s budget director to indicate over the weekend that the president will sign a $410 billion spending bill with what Republicans critics say is nearly $5.5 billion in pet projects known as earmarks.
“So much for the promise of change,” McCain said in the first of many assaults he is likely to make against pork-barrel spending this year.
Democrats contend that earmarks in the bill total only $3.8 billion, less than 1 percent of the amount Congress is approving to finance government programs through September. Taxpayers for Common Sense, an anti-earmark watchdog group, counts them differently and found $7.7 billion worth
Unbelievable! All you gun nuts should load up and retire.
************
“The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.”
http://www.chicagotribune.com/news/nationworld/chi-detroit-housingjan29,0,5435392.story
Martin Wolf, senior financial editor at the Financial Times, worries that all measures taken so far make everything worse, not better.
http://www.cnn.com/video/#/video/bestoftv/2009/03/01/gps.martin.wolf.intv.cnn
AIG Lost $670 Million Every Day
No company has ever lost as much as AIG did last quarter. All told, it lost almost $100 billion last year, with $61.7 billion of those losses in just the last quarter of 2008. Few companies have ever been worth that much, or been able to put anything like that much at risk. It’s almost unfathomable. Let’s see if we can break it down into a more reasonable number.
Every day AIG lost: $670 million.
Every hour AIG lost: $27.9 million.
Every minute AIG lost: $465 thousand.
Every second AIG lost: $7,750.
That’s more like it. It means that every six and half seconds, AIG loses the equivalent of the median household income in the US.
http://www.businessinsider.com/aig-lost-670-million-every-day-2009-3
FDIC: $19 billion now backs over $4.8 trillion
http://optionarmageddon.ml-implode.com/2009/03/01/fdic-19-billion-now-backs-over-48-trillion/?ref=patrick.net
I’m almost ready to buy stocks. No fancy strategerie, just buying on sale and putting away for a sunny day.
Was going to go with some of the tried and true but Coke is still pretty spendy.
I’ll have to do a little more work for my list.
Citi may need more capital despite government move: Deutsche
Citigroup Inc may need to raise additional capital despite the U.S. government’s move to bolster its capital base, said an analyst at Deutsche Bank, who sees a 2009 loss of about $4.5 billion for the company excluding any preferred share dividend payments. Citigroup shares fell as much as 7 percent to $1.39 in trading before the bell Monday, after Friday’s close of $1.50 on the New York Stock Exchange.
“There is still a good chance that Citi will be required to raise additional capital, possibly due to demands from regulators or simply due to its deteriorating credit quality and balance sheet,” analyst Mike Mayo wrote in a note to clients. The U.S. government said on Feb. 27 it will boost its equity stake in Citigroup to as much as 36 percent through the conversion of up to $25 billion in preferred shares to common stock. This was the third attempt by the government to prop up Citigroup in the past five months.
http://uk.reuters.com/article/marketsNewsUS/idUKBNG33777720090302
#350 hobokenite:That is just about the most retarded thing I have ever heard. I can’t believe someone pays him for that drivel.
Agreed. And I would add just exactly what is on the hoirzon that would lead anybody including this clown to say that there is less than a 50% chance the recession will last into the 4th quarter of 09?
It borders IMO on being criminal making statements like that which have no basis in any reasonable facts.
Have not these cheerleaders done enough damage?
I am guessing that we wont be hearing much about the GE CDS payments on MSM eh?
Trading in HSBC shares suspended in Hong Kong
Trading in shares of HSBC Holdings was suspended for Monday’s session in Hong Kong, pending what the bank called “the announcement of a corporate action,” as the company was expected to reveal a pullback from its U.S. consumer lending business. The banking giant is also due to announce its 2008 earnings report later in the day. Shares of HSBC’s Hong Kong-based subsidiary, Hang Seng Bank, dropped 4% ahead of its own results for 2008. Daiwa Research expects Hang Seng’s 2008 profit to drop to HK$14.06 billion from $18.24 billion in 2007.
http://www.marketwatch.com/news/story/trading-hsbc-shares-suspended-financial/story.aspx?guid=%7BD04F335E%2D6AAE%2D4E1A%2D856B%2D82A9C7C7B6FB%7D&dist=TNMostRead
“SAS – what is this ‘larger system’ you speak of”
The SYSTEM is very deep and very old. It involves thousands of people, numerous government agencies, including intelligence agencies, banks and defense contractors, not to mention secret societies.
SAS
madoff was apart of that system.. until he got greedy & stupid.
SAS
3B #60,
SOLD: $500,000 8/2/2005
ACT $484,500 10/13/2006
PCH $479,900 12/1/2006
PCH $519,900 1/18/2007
W-T $519,900 2/10/2007
ACT $499,900 1/2/2008
PCH $489,900 4/30/2008
PCH $449,000 5/13/2008
EXP $449,000 6/30/2008
ACT $449,000 7/15/2008
PCH $449,000 7/22/2008
W-T $449,000 9/22/2008
ACT $444,000 10/1/2008
EXT $444,000 12/30/2008
EXT $444,000 1/30/2009
EXP $444,000 3/2/2009
Under attorney review 3 times, under contract once. No sale. Listing expired.
Deed $500,000 6/27/2005
Mortgage $400,000 7/11/2005
LisPenden $400,000 10/18/2006
Deed $100 8/25/2008 10/17/2008 SHERIFF OF BERGEN COUNTY
Barb…want some nice long-term stock ideas?
share price >=$3, 5 or more years of history, and 5 consecutive years of 13% or greater growth each year in both sales and eps. Here are the 46 companies that resulted.
ATU ADS AMOV AMX
APH AAPL BJRI BWLD
CAM CHSI COH CTSH
RIO CMTL DECK DNR
HXM DLB FAST GRMN
DNA GILD GPN HANS
HRS HEI INFY ICE
LKQX MA VIVO MCRS
MBT NOV NGS OXPS
PETS QSII SII SQM
SPOL SRCL TDY VIP
WIT WRLD
These are nothing more than research ideas. I definitely wouldn’t run out there and buy ’em sight unseen.
stu,
thanks I will take a gander. I’m actually considering citi if it is not nationalized within the next 6 months.
“Agreed. And I would add just exactly what is on the hoirzon that would lead anybody including this clown to say that there is less than a 50% chance the recession will last into the 4th quarter of 09?”
He is using his assumption that any given month has an 8% chance of exiting recession and calculating a binomial distribution to “calculate” the odds of being out of recession after X months.
-Secret projects — including invisible weaponry, electromagnetic weaponry and weapons that can be delivered from satellites and space.
-transfer of assets from sovereign governments to private hands and to shift liabilities back into governent
-To fund the derivatives used to manipulate markets and to shift control of real assets to private hands and shift the general population into ownership of paper assets and to ensure domination of financial systems by centralized institutions.
-Personal wealth of people involved in engineering above, both knowingly and unknowingly
-shift investment out of countries with aging populations and into countries with young populations
-control of the populations in the first world so that it will not lose control when various types of medical and energy technology are unsuppressed.
-forms of population reduction.
(ex. Pelosi comments)
just me thoughts:)
SAS
comments at 379
that is where I suspect the missing/stolen money is going…
SAS
Barbara:
You do what you think is right. I wouldn’t touch any large cap financial for a very long time. I don’t even know what they are going to do in the future. Plus consider the government’s tendency to over regulate to make up for the years of under regulation. Just too many unknowns for me.
stu
all good points. I would just throw a few bucks at it anyway, treat it as a penny stock.
stu
what site did you use to narrow the list to your criteria?
Corzine may raise income taxes for N.J.’s wealthiest
http://www.nj.com/news/index.ssf/2009/03/corzine_may_raise_income_taxes.html
Barbara,
The list is endless. I am a huge fan of betterinvesting.org and their message boards on compuserve (NAIC).
I have an extensive list of bookmarks that I would gladly share with you if you were truly interested in them. As for professional analysts, I only trust ValueLine’s opinion but use software to help me determine if the stock price is valued at the right price regardless of what those analysts say. I very rarely have short-term losses or gains. I buy and hold until the fundamental reason for my initial purchase changes, regardless of the stock price. That’s pretty much it. Get my email address from Grim if you want a copy of my investment bookmarks.
World markets not looking very healthy again tonight. Hong Kong is already down almost 4%. Will tomorrow be another ride down?
http://money.cnn.com/data/world_markets/index.html
Stu,
I miss the Yahoo finance boards, pure chaos but pretty funny stuff. I fiddle with a few sites but I never considered software. I guess you can’t trust what you read, better to plug in the numbers yourself.
I’m a tactile learner, I only invest in companies I understand. I understand little so my lists tend to be short :)
Yeah,
Back in the day, those yahoo finance boards were a fantastic source for some free investment education. Remember Raging Bull? Today those boards are filled with filthy day traders who like nothing more than to believe they can influence which direction a stock will move. I bet Frank spends some serious time on those boards.
Stu,
I remember CNBC actually reporting about TheLion, the premiere Mr. Pump and Dump. He posted in this broken english style, it was all kinds of fun to read.
Yeah…I remember TheLion.
“Corzine may raise income taxes for N.J.’s wealthiest”
Please make it 110% of their income. Keep people out of NJ.
Corzine is my hero!!
http://www.msnbc.msn.com/id/29470399/
Fla. county may declare itself disaster area
Mets, Mets, Mets, Mets…
374. Fact is SAS most of us are too dumb to care about the (very cool) stuff you post. We live in a ‘I have mine, you get yours’ world. As long as there is fuel in the tank and cash on hand. No questions are asked.
I find the various vitriol against groups and political agendas to be distractions.
“Today those boards are filled with filthy day traders who like nothing more than to believe they can influence which direction a stock will move”
and you don’t think some of those types, tend to gingerly post on the NJRE bubble blog?
keep an eye out Mon-Fri 9-5, and major holidays off.
:)
SAS
Essex,
“We live in a ‘I have mine, you get yours’ world”
yes, i agree.
sooner or later, people will realize, what they think is theirs…has been taken away from them.
I better get those coordinates of the Nom pound.
yee
SAS
what happens in here at night?
it gets real hush..hush..
tonight a great night for my nightly favorite: warm milk & cognac.
every sip, tastes so good.
SAS
(cheers)
lostinny says:
March 2, 2009 at 6:59 pm
341 ChiFi
Never do that again!
lost:
sorry…here is a demo….cool, but kind of meandering…I heard the finished product is more ball busting….you have the benefit of Gahan humming gibberish for 45 seconds at min 3:00 as a place holder in the demo….
http://www.youtube.com/watch?v=DcW9tvdX4Zc
sas says:
March 2, 2009 at 8:34 pm
“SAS – what is this ‘larger system’ you speak of”
The SYSTEM is very deep and very old. It involves thousands of people, numerous government agencies, including intelligence agencies, banks and defense contractors, not to mention secret societies.
sounds a bit general … i’ll understand if you can’t/wont be specific
RE: The SYSTEM is very deep and very old.
SAS, any book you would recommend to outline “The System”?
#375 Rich: Thanks for the info.
I just stopped by your blog and thought I would say hello. I like your site design. Looking forward to reading more down the road.
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