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B4 The Bell, Moonday, August 2


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Guest yobob1

Back from a glorious weekend. A nice rough hike into a cut throat laden lake that seemed happy to attack almost anything tossed their way. That was followed up by moving to a resevoir 12 miles away, loading all of the gear into the boat, motoring to the opposite shore and setting camp on a nice granite sand beach. Trolling for the Kokanee was slow, but we were catching way more fish than the other boats. Most were catching none. The cut throat were tasty, but oh the Kokanee. All of the above was on Saturday after driving till midnight on Friday followed by 5 hours of "rest". I wouldn't call it sleep since every twig snap was surely a bear. We all know how nasty a bear can get and the easy zip open goody bag, sometimes refered to as a tent, isn't a whole lot of protction. :lol: Sunday was more trolling again with the same results followed by a nice leisure drive home, about 4 hours south, that found the boat unloading itself as the bow line snapped after 20 miles of brutal road.

 

My fishing buddy has a philosophy that any outdoor adventure had better include some misery or it won't be fun/memorable. He has a point. I'll never forget hearing the splash as my favorite Fenwick trolling pole disappeared into the depths of Deadwood Res. How it got into that precarious position is something I don't care to discuss. :P

 

Weekends like this are great for recharging the batteries. It drains all of the poisons that modern society deposits every waking second. No need to worry about terroists blowing up financial institutions. (Personally I think the financials have far more to worry about in the form of angry American investors/depositors).

Bears and rattle snakes are the real "terrorists" out here, not to mention the increasing wolf packs that a bunch of idiots decided to reintroduce a few years back. Their population is exploding so now they want to take them back out. A lot like putting tooth paste back in the tube.

 

The good folks at Contrary Investor nicely highlighted the systemic risk of the looming real estate implosion. The one issue I don't recall them touching on is the quality of the lending over the last few years. To me, that's where the real trouble lies; the unseen accelerant. Reckless lending practices are always part of the topping process - the last gasp, so to speak. Because of the duration and extent of the fed/govt./GSE interventions the reckless lending has not been confined to real estate, it's in everything. From corporations to the rent-to-own stores. Top to bottom the amount of bad credit risk out there is enormous. It will all come tumbling down with a velocity few suspect at this point. A velocity that will make it unstoppable regardless of all of the paper and ink that the fed can come up with. The New Great Depression dead ahead.

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Morning Crew- Pls read "All the Pretty Words" an editorial by Bob Herbert in the NY Times-in essence he says things are so bad that neither Shrub nor Kerry can talk about what is wrong because the problems can't be fixed-the Boy is a Stoolie. I expect a massacre today-window at the Bell for 65 minutes...and...and...the Chairthrower is in da house at the open-Helmets on, seatbacks in the upright position, Buckle up! ;)

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Temporary Open Market Operations for August 02, 2004

Last updated: August 02, 2004 09:51 AM

Number of operations today: 1

 

Delivery date: Monday, August 02, 2004

Maturity date: Tuesday, August 03, 2004

Type of operation: O/N RP

 

Total Money Value of Operation (in $bil.) 9.000

http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE

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Feels like a crash setup to me...the props are too obvious...so many wanting/needing to bail

Yep,in the pre-market da boyz see that it's going to go down hard,so they prop it for the the first 30mins and give themselves the chance to take precautions(ass covering) then it can follow its natural direction.

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Just watching Crapvision turning a terror threat into a 3 ring Circus, an event, parading out smirking Schumer, pitiful Pataki and of course every retired CIA agent who can walk, plus shots of Bomb sniffing dogs, no neck Cops and Machine Guns. To the Sheeple this is like a mid night sale at Wal-Mart! ;)

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