63 replies to this topic
Posted 10 July 2009 - 10:36 PM
I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving
Posted 10 July 2009 - 10:52 PM
Shares in “General Motors,” the company says, are worthless. But many investors apparently have missed the message.
G.M.’s stock, which now represents the company’s bankruptcy estate, continued an improbable rise in price on Friday, prompting concern by company officials and securities regulators that investors are confused.
The stock, which trades under the ticker symbol GMGMQ, gained as much as 43 percent on Friday, after G.M. announced that it had completed the sale of its assets to an entirely new company. Nearly 75 million shares traded hands until the securities industry’s self-regulator, Finra, halted trading at 2:09 p.m., citing “extraordinary events.”
"Americans can always be counted on to do the right thing...after they have exhausted all other possibilities."
"You can fool some of the people all of the time."
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."
Posted 11 July 2009 - 01:08 AM
There is no free ride, at least not anymore. I think there is an admission preference for employees.
The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken
"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali
"When plunder has become a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." -- Claude Frédéric Bastiat
Posted 11 July 2009 - 02:18 AM
jorma, that 'news from 1930' site is awesome, thanks. another way to search for fartcals.
my neighbors in my old hometown of davis, an old fashioned college town, have been claiming immunity to the real estate downturn. and prices have fallen much less than in most places (local growth control laws have kept a tight lid on housing supply, and preventing the town from becoming vacaville or fairfield). with state workers who commute to sacramento as well as all the university workers looking at paycuts, furloughs, and layoffs, i wonder if they still think home prices are gonna stay high.
sf giants pitcher jonathan sanchez hurls no-hitter tonight. happy happy joy joy
that sears xmas campaign reminded me of this guy:
"He who sells what isn't his'n,
Must buy it back or go to pris'n."
Posted 11 July 2009 - 05:23 AM
Looks like another windfall for banksters in trading and discounting these securities.
Posted 11 July 2009 - 05:30 AM
Thinking about bellwether indicators...
The discount to face at which the Californian IOUs trade, might set the tone for the rest of the year.
Just a guess though.
Edit: Got distrust?
PARTY! NORTH KOREA! SATURDAY NIGHT! BYOF (bring your own food)
Posted 11 July 2009 - 05:39 AM
Hey .. making a merkit is a public service, right? Helping small businesses cash out their IOUs, and helping total morans go dong Arnie.
Wait a sec.. what do you hedge a Californian IOU with?
PARTY! NORTH KOREA! SATURDAY NIGHT! BYOF (bring your own food)
Posted 11 July 2009 - 06:23 AM
That one's easy, you use a method known as "financial innovation". You create a SIV with these fine diddly notes and sell them with a fancy name.
Basically the same way they dealt away with subprime.
Posted 11 July 2009 - 06:31 AM
Disney Dollars and Knott's Berry Farms Wooden Nickels.
If you can't convince them; confuse them.
Posted 11 July 2009 - 06:45 AM
I think GM has missed the message that investors are giving it.
The company has been a No Chance To Dance penny slot machine hosting lines of nicotine-stained 70-something riverboaters wanting to be anything but the last bag holder. Like Mississippi huntin' season: if it moves, it's fair game.
You could put 4 capital letters on a douchebag, list it on the NASDAQ, and trade a hundred million shares before Cramer even begins to get a whiff of it.
The deeper you dig into a pile of dung, the worse it smells ...
Posted 11 July 2009 - 10:16 AM
So far, just one signup to be a contributor to Financial News Watch. I may be crazy, but I've believed for a long time that a publication focused on featuring volunteer critics of the mainstream financial media could be something that's fun, and potentially important. So just for the hell of it, if you see an article that you have any thoughts about, just register and throw in a headline a snippet and a link to the source, and then your thoughts.
Let's rip these guys a new one. Of course, we should also be giving kudos where due.
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Posted 11 July 2009 - 03:08 PM
GregFokker Posted on: Jun 14 2003, 04:07 PM
Dean of Stock Proctology
Joined: 2-February 02
Member No.: 332
Derby Day, the BAREister resplendent in weekend attire, checkbook and quill properly stowed in the silklining of his crepe pinstripes, the bright spring rays deflected to hither and yon by his hard be-ribboned derby hat. The melodious clink of melting rocks in an oversized old-fashioned cooling his manicured paw as his patent leather two-toned saddle success shoes navigate a path through the high rollers, seeking out shadier harbour from which to survey the goings-on. From a distance, the whinying of the horses, the sollicitous chatter of their handlers and jockeys, the hum of the boulevardiers, bon-vivants, bookies, bet-layers, boisterous bettors and buxom belles. His perspicacious glances taking in all and settling on none, the BARE surveys Derby Day and sizes up the odds.
...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech
Posted 11 July 2009 - 06:26 PM
Here he relates economic history and Heisenberg's Uncertainty Principle
From page 13:
Irrational Free Markets
Don't look too close...
The current Weatha
In mathematics you don't understand things. You just get used to them. Johann von Neumann
We're all frinkin' doomed The Mogambo Guru
In the long run, we're all dead John Maynard Keynes
If voting changed anything, they'd make it illegal Emma Goldman
Time flies like an arrow; fruit flies like a banana G. Marx
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