World Tranquility for another Week

[Paint Your Wagon]

This is great
The most costly blockade I have ever seen

Sacked Lehman Brothers Bank Employees Blockade Head Office

[longnine009]

This is great
The most costly blockade I have ever seen

Sacked Lehman Brothers Bank Employees Blockade Head Office

"Buddy can you spare a yuppie food stamp?"

Is there anything about investment bankers that's not fake?  Real radicals would have kept rocking  the whole office building until if flip over into the street--- whilst chanting  "Power to the Yuppies" 

[Paint Your Wagon]

Yes and I know little about US prices but I bet the guy standing there in blue jeans paid over a 100$ for that pair of blue jeans 

As it stands yuppies with only real estate and bankersaccounts may be eating dogfood .
I remember like 20 years back an article from LA that dogfood was cheaper and of a better quality .

Those cars now probably sell for less then 10 cents on the dollar ( 10 months old first owner  )

[longnine009]

You might be right OldDan. Seems like they have a "rent-a-mob" now for just about anything.

[Paint Your Wagon]

The masters of the universe get several million dollars in bonuses each year and like an english school they wear all the same uniform a red car to be recognised as masters of the universe . And since they got their 2007 bonusses on time they should all have the last years model .
I think the picture comes from Bloomberg as well as the headline . The masters of the universe pay cash for their cars so it could well be that this are dealers who are afraid this New Year they will not sell their stock to masters out of a bonus or worse out of a job 
Well easy come easy go to all of them 

[Paint Your Wagon]

Another blow to the masters of the universe
JP Morgan shuts down prop desks ( after they lost too much I guess)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVFYtq7ffx5c&refer=home

[longnine009]

Hard times huh? I wonder if these wallstreet pukes had enough cash to buy off both parties this time.  The democrats made a clean sweep of everything. And  they sure won't have to crane their necks too much to find  the Booty-N-Goats  in Jan. 

And they can probably say "goodbye ole buddy"  to their pimp in the treasury.

[longnine009]

Taking my last post a bit further, this election is the biggest butt kicking inflicted on an opposing party since the republicans swept everything in 1980. This is the polar opposite of 1980. We really have become skizzys.

But there's a small problem. Obama supporters have built him up to the point where you would think they just unleashed a genie on the world (the republicans had the same hallucination with the "Gipper")  who will bring  instant prosperity, even free gasoline. There was actually a woman who called a radio talk show who expected free gas for her car when Obama got in.  Where is Obama  going to find this wealth "to spread?" Americans don't have wealth, they have stuff with creditors' liens on them.

What's he going to do to bring people  back down? Well, if he's really an "innovator" maybe he could just tell everyone the truth: We're broke. The economy is collapsing and wall street did it. Then these #@$&^!@  investment banks will be criminalized as they should be.

But in typical government fashion, they will over do it and criminalize Capitalism altogether and we'll be living in socialist country which is where we've been heading anyway for the last 30 years. But (insert Prozac now) that will be like, so ducky.  Just look at the long list of successful socialist countries. Just take a good look at those 120 pound  N. Korean soldiers. They must eat very well to be so heavy. That's probably why they're also in such a good mood all the time.

                                   Got Gold?

[Paint Your Wagon]

Depending upon the source I read the US has a debt of 11 Trillion sofar and is adding 1 Trillion a year
I am afraid that simple aritmatic is going to prove at which time the total income is going to go to intrest payments alone
That is the point of no return
Since several nations are reducing the purchase of Treasuries or are even selling this should mean a rising intrest rate on borrowing
This legacy is a very tough nut to crack

[Paint Your Wagon]

Intresting read on the debt of the US

http://www.gold-eagle.com/editorials_08/schoon110408.html

[longnine009]

One trillion a year? They added 3/4 of trillion to the debt in one week. This economy is the most insane bubble that has ever existed. And what are the last two example of governments trying to keep  EL Cid riding? The U.S, when, by their actions they made the depression of the 1930's into the Great Depression. And Japan who still hasn't climbed out of the hole since 1990. And whose rally in the last few years may be nothing more than a carbon copy of the  Great Depression's "sucker rally" of 1935.  And not to be out done by Japan's "sucker rally" we're having one of our own. Just wait brother, just wait until this pile of rot comes down.

Obama is very smart, I think.  I'm not sure since an egg plant is intelligent compared to DuhYa.  Even so, Obama  doesn't walk on water and he isn't going to part the Red Sea of ink. 

                                   Got Gold?

[Paint Your Wagon]

According to some European newslettres the time between now and the actual handover of power to the next president is the most dangerous in history .
Maybe the US is going to learn the pleasures of paying 52% direct taxes and 12% citytaxes and solidarity taxes and 65% +12% taxes on salary increases and then 21% value added tax on any non food product they buy up to 30% luxury tax on large cars . And then taxes for garbage collection and taxes for water coming in and taxes for water going out and taxes without a proper name and taxes because your house is sitting on land which is taxed . There can be no end to the imaginations in finding new taxes . And then you raise the taxes and then you collect them once in february over the past year and once in novembre over the coming year . Pity is you can do this only once .
And last but not least 10$ a gallon on gas for the car and triple taxes on tobaco and sigarettes . And whilst weapons are still legal 500$ a year tax per weapon .
In return you will get like 46 dollars per day , six days a week , for a family of two for days without a job . And if you paid enough years of taxes you will get that till you retire. Now if you did not pay all those above taxes, upon retirment you will get 750$ a month and there will be social centres to give you canned food if you cannot make it on that retirment .
This is of course in the supposition that there is a generation of youngsters working that are willing to pay for you and your old age . Otherwise it is soilent green

[longnine009]

I doubt that they can suck that much life from  Zombies.  Unless the market for Soylent Green picks up.    With all the different drugs people  funnel into their gullets they probably don't even have decent organs to harvest.

But  when one party has the white house, senate, and house they can try anything they want.  Who's going to stop them,  nine sleepy judges who can barely fog a mirror?

I'm sure they have some "really cool ideas."  I can't wait to hear them.
 

[Paint Your Wagon]

The first money vote polls are in
Dow down 486 and Japan down 6.5% whilst I slept
Gold is not ready to cast a vote it seems because they locked the doors and cut the tires of the car
Prognosis on the other hand are extreme Like 2000 for the Dow with several components at Zero to 30 000 on the Dow by Mahendra
Now all depends on whether there will be eh larger denominations in Federal Reserve Notes 

Bloomberg meanwhile as the wrong title
Bansters still get 30% bonus for wrecking the world should be the title

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2Z_7EZpJryA&refer=home

[longnine009]

I hope they enjoyed those bonuses. Even as unions were dying in the U.S the membership routinly voted bigger and bigger pay raises. Their BA's still drove around in big black Cattys  harassing business owners.  The UAW was getting something like $48 an hour in pay and benefits for assembly line workers. Where are they today? Where's their fat pay checks? Where's their pensions? Gee, where's the assembly line? It collided with this:

"Strength becomes weakness,
weakness becomes strength."
Sun Tzu
 
The worse thing that ever happened to the United States and Capitalism was the fall of the Soviet Union. When it fell it demoralized all "ism" movements around the world. However comical they were they still had a good effect on toning down the extremes of  Capitalism. They (The "Gipper," apparently all by himself) killed the fox that kept the  rabbits in check.  The rabbits went on an orgy.

And now it's flipping back the other way which was all too predictable. Even as they celebrated the fall of the Berlin wall, even as they celebrate today the collapse of bogus investments with stock rally's, it still does not alter this:

"Strength becomes weakness,
weakness becomes strength."
Sun Tzu

That's the other half of "change is good" that the drones are so fond of reciting. I hope find this good, because it's here:

"...I went down Virginia,
seeking Shelter from the Storm,
caught up in the Fable
I watched the Tower grow,
Five Year Plans and New Deals,
wrapped in Golden Chain,
and I wonder, still I wonder,
who'll stop the Rain..."

Who'll Stop The Rain
John Fogerty-- CCR
                                 

[Paint Your Wagon]

Creedence Clearwater Revival huh
I even got the album sitting next to the triple album from Woodstock

goldmines shot up today right out of the gate to drop like a brick
probably by the plunge protection team

Chestnut brown canary, Ruby throated sparrow
Sing a song, don't be long, Thrill me to the marrow
CROSBY, STILLS, NASH & YOUNG

[Paint Your Wagon]

"Strength becomes weakness,
weakness becomes strength."
Sun Tzu

Even as they celebrated the fall of the Berlin wall, even as they celebrate today the collapse of bogus investments with stock rally's:

"Strength becomes weakness,
weakness becomes strength."
Sun Tzu

I believe this is what is called 'stripping the cow', and intended to get every last little milk possible.

I thought it was "flogging the dead horse " but that may be the next phase 

[longnine009]

I believe this is what is called 'stripping the cow', and intended to get every last little milk possible.

OldDan I believe Warren Buffet called Hedge funds nothing but compensation packages for brokers. The thirty-something crowd  from five years ago should have been taking notes instead making fun of him. Now they can just get their begging bowls out and take a number.   


I thought it was "flogging the dead horse " but that may be the next phase 

They will flog the horse as soon as it drops dead from carrying  EL Cid to nowhere at flank speed. 

I have the Woodstock album. I routinely play Jimi Hendricks' Star Spangled Banner for my next door neighbors on full blast with continuous repeat. Of course I have to leave and go do the laundry or something for a few hours. But it's worth the trouble. 

[longnine009]

No doubt they won't give up either. The BA's like those  big black Catties. Maybe they'll even get  black Catty limos out of it and they can be like  Ike but without the brain capacity 

Daily reckoning  had some interesting comments in one his e-letters. Japan's stock and real estate markets have lost 3 years worth of GDP since the 90's. The U.S GDP is 15 trillion a year. So if we were to follow Japan's recession that would be 45 trillion in losses. And he figures so far stocks and real estate have only lost  10-11 trillion.      And I though I was a pessimist.

http://www.dailyreckoning.com/Issues/2008/DR110508.html

[Paint Your Wagon]

There are like 250 Trillion $ in derivatives out there and nobody knows how this nets out
sincer they are off the books and NOT regulated

[scottishmoney]

I closed out an account at one of my institutions this morning, no easy task.  Curiously there were several others that seemed up on what was going on too, since there was a line to close accounts.  This particular institution is on the watch it list published by the Fed.

The manager reminded me of the insurance on the account, I said I know, but then it takes time even if the FDIC is still solvent, which it might well may not be when all this settles.  Curiously Credit Unions are the least affected by the recent dust up with home loans, and have much higher ratings than most large commercial banks.

A trillion here, a trillion there, all going to hit the fan at some point.

The buoying of the dollar vs. the Euro has given some confidence, but I think that will be shortlived.  At least the Euro was at a several year low while I was in Euroland earlier this week.  But Austria is still expensive, even with the Euro under $1.30 per.

[Paint Your Wagon]

A lot of us go to Austria on ski vacations . Compared to Belgium Austria is cheap .
Especially lodging and food and clothes and electronics are expensive in Europe . All the rest is just highly priced 

I thought my bankproblems were over and guess what ? A judge in a pretrial motion just decided that the Belgian government did not have the right to save Fortis bank and to "merge" it virtually debt free to the french Paribas and that only the shareholders collective can decide.
Of course the shareholders will vote for complete nationalisation where they get 10 euro a share where they now have 1.08 euro a share

So there we go again it is the old song again ; we rather have that everybody goes broke not the poor shareholders who got all the fat dividends

[CoinCrusader42]

Quote of the Week
'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.'
Thomas Jefferson 1802

 

[Paint Your Wagon]

German logistics giant Deutsche Post will on Monday announce thousands of job losses in the United States in the wake of heavy losses, a
German newspaper reported.

In its edition to appear Monday the Frankfurter Allgemeine Zeitung (FAZ) says that group chief executive officer Frank Appel "cannot do other than announce massive job cuts" when he presents third quarter results that day."

According to the FAZ, "40,000 jobs are under threat in the United States," of which "20,000 are directly linked to Deutsche Post and as many again to the US partners."

[Paint Your Wagon]

AIG: We Need More Money

AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation.

http://www.ritholtz.com/blog/2008/11/aig-we-need-more-money

[Nighthawk]

Quote of the Week
'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.'
Thomas Jefferson 1802

 

It seems old Tom knew exactly what he was talking about! Just look around you today. A powerful centralized banking system has all but destroyed this once great country. They're like a bunch of blood-sucking leeches who will drain every last ounce of blood from your body, and won't give up until you're dead! To HELL with all international bankers, and to HELL with the Federal Reserve!!! 

[Paint Your Wagon]

Regions with a gold shortage
I think the tiny light blue allright dot is Belgium 
Source Kitco Casey

[longnine009]

AIG: We Need More Money

AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation.

http://www.ritholtz.com/blog/2008/11/aig-we-need-more-money

I'll bet they'll get it too. The skin heads have a big stake in AIG that's why it was so "urgent" the last time to save them. Now the states are begging. They did nothing but open a Pandora box with these bail-outs. Every feral cat in the country will have their paw out for a free meal. Not to mention that rewarding stupidly only ensures that it will continue.

[longnine009]

There are like 250 Trillion $ in derivatives out there and nobody knows how this nets out
sincer they are off the books and NOT regulated

"Derivatives are financial weapons of mass destruction."
Warren Buffett March 2003

I wonder if the wallstreet geniuses,  standing in line "A" at the unemployment office, still think the old man from the old school is still "out of touch." 

[Paint Your Wagon]

Ah yes , confiscating pensions is a good way to get money without printing it
A pitty for my government I took ALL last year in june and paid the penalty 

Posted: Nov 10 2008     By: Jim Sinclair      Post Edited: November 10, 2008 at 1:38 am

Filed under: General Editorial

Dear Friends,

The following article is a Carolina Journal exclusive:

Dems Target Private Retirement Accounts
Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs
By Karen McMahan
November 04, 2008

RALEIGH - Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts - including 401(k)s and IRAs - and convert them to accounts managed by the Social Security Administration.

Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.

More…

[Goose]

I should have thought of that....the 'take over' of the 401 K and IRA accounts...... it'll happen. Bees always go for the honey.

My brother-in-law had many yrs working for a railroad (35) when the U S guv-ment came along and said, "We'll help you! Your retirement reserve is only a few billion dollars (real money, not I O U's). We'll just take over your retirement system because it's "protected" by the U S guv-ment from any loss." The guv-ment did! Now I'm wondering....why did the union big wheels allow this to happen?

[Paint Your Wagon]

And now they refuse to tell what they did with two trillion $
Accountability is only for the little people


Fed Defies Transparency Aim in Refusal to Identify Bank Loans

By Mark Pittman, Bob Ivry and Alison Fitzgerald

Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

http://www.bloomberg.com/apps/news?pid=206...refer=worldwide

[Paint Your Wagon]

I should have thought of that....the 'take over' of the 401 K and IRA accounts...... it'll happen. Bees always go for the honey.

My brother-in-law had many yrs working for a railroad (35) when the U S guv-ment came along and said, "We'll help you! Your retirement reserve is only a few billion dollars (real money, not I O U's). We'll just take over your retirement system because it's "protected" by the U S guv-ment from any loss." The guv-ment did! Now I'm wondering....why did the union big wheels allow this to happen?

I just read this morning that the belgian railroad pays like 5 million euro a year for social peace to the Unions
Maybe a little more by the government might get them their pensions too
They shut down Sabena airlines why did our government not yet think of protecting pensions . My brother now has like 30 years most with Sabena but the reailroad gracefully took all his working years as railroad years 

[longnine009]

CoinWorld just did an article (11/17/08 pg 68) on community script, this time in Lewes, England.
http://www.thelewespound.org/

Community Script  seems to be a growing trend ( I wonder why?) and a growing collecting interest. Lewes has to print 10,000 more notes for collector demand. 

[Paint Your Wagon]

American Express is now a bank so they can get billions of dollars in return for uncollectable credit cards

The Federal Reserve on Monday evening granted a request by American Express to become a bank holding company, giving it access to low-cost financing from the Fed.

The Fed said it had approved the application for American Express and a related company, American Express Travel Related Services, to become bank holding companies. The approval represented the latest reshaping of the financial services industry, which is undergoing its worst credit crisis in decades.

In announcing the action, the Fed said “emergency conditions exist that justify expeditious action on this proposal.”
http://dealbook.blogs.nytimes.com/2008/11/10/american-express-to-become-bank-holding-company/.

[longnine009]

Yes, well that's really what these "economic stimulus checks" are about anyway. An indirect way of bailing out  the credit  card business. What else is someone going to do with $600--take a trip to Hawaii? 

All I can say is, if Obama has a hair on his butt he'll launch a scorched earth investigation into all this, starting with Goldman Sachs and their skin heads in the treasury. 

Putting ex Goldman Sachs hustlers in  the treasury--That's great! Even Jimmy Carter, as  incompetent as he was, never put brother Billy Beer in charge of the ATF.   

[Paint Your Wagon]

Héhé
there is an article about a european queen having all her fortune in real estate and maybe still having the power to order people to the guillotine
I hope a few bansters loose their head (literally)
I think it was on Bloomberg

[longnine009]

Indeed,  a loppy-choppy is what they all deserve. But they have too much money, friends in the government, and lawyers to keep them out of the barber shop. They should just use the CIA to hack into their accounts and steal every dime that they stole from everyone else. That way they can live the rest of their pig face lives among the "great unwashed"  proletariat. Surely that's would be worse than death for them . 

[Paint Your Wagon]

There is a Russian Billionaire going after the blue blooded CEO of Fortis for not being honest in the past ( a count or marquis or such)
I think the Fortis mother holding now got investigations for fraud and misrepresentations and two organised groups sueing them and the Russian and of course the group saying the government was not allowed to wheel and deal without the shareholders

The bank part is (or is not) owned by BNP Paribas france ( depending upon what higher court decides)

[longnine009]

There is a Russian Billionaire going after the blue blooded CEO of Fortis for not being honest in the past ( a count or marquis or such)

I hope he out-sources it to the Russian Mafia.  They're probably very good bill collectors. 

[Paint Your Wagon]

A German analyst puts a forecast for GM shares at ZERO

Meanwhile the cheapest way for the taxpayer is bankruptcy of GM

http://blogs.moneycentral.msn.com/topstocks/archive/2008/11/11/should-gm-just-file-for-bankruptcy.aspx

[longnine009]

They only have to stay alive until Jan. There's too much union money behind Obama. And if that doesn't work he can always caution that they'll be a revolution in the south if they lose Nascar.

If they are going to throw  money away I'd rather see  GM get it.  Even  crappy cars  are  more than: Can you find the hidden screw job  Investment Vehicles. 

In any case, I'm sure glad I'm not middle class.  If I can't be rich I'd rather be poor. The middle class is just a host for parasites to suck on. 

[Paint Your Wagon]

Cost for bailout 3.5 Trillion sofar but Paullie has changed tactics he announced he will not buy more toxic waste but do the thing Japan did
Will have to look up the name again how they give money to friends

http://finance.yahoo.com/tech-ticker/article/126117/Cost-of-the-Bailout-3.5T-So-Far-But-%27Real%27-Cost-May-Be-Much-Higher?tickers=AIG,FNM,FRE,XLF,%5EDJI,%5EGSPC,C

[Paint Your Wagon]

Ah yes quantitative easing

Quantitative easing
Tuesday October 14 2008 12.10 BST

Quantitative easing is what non-economists call ‘turning on the printing press’.

In extreme circumstances, governments flood the financial system with money, easing pressure on banks by giving them extra capital.

Ben Bernanke, the chairman of the Fed, won the nickname ‘helicopter Ben’ when he floated just such an idea earlier this decade. US economist Milton Friedman had originally said it would be theoretically possible for governments to drop large amounts of cash out of helicopters for the public to pick up and spend.

More…http://www.guardian.co.uk/business/2008/oct/14/businessglossary



Paulson Shifts Bailout Focus to Borrowers and Non-Banks

Treasury Secretary Henry M. Paulson Jr. said that the $700 billion financial bailout program would not be used to buy troubled mortgage-backed assets, as originally intended.

Instead, capital would be provided directly to nonbank companies as well as banks and financial institutions, and that more would be done to prevent home foreclosures.

More… http://www.gather.com/viewArticle.jsp?articleId=281474977504804&grpId=3659174697239232&nav=Groupspace

[longnine009]

Oh,  "non-banks" like the sucking worm engine that Paulson was CEO of?

I think I may have stumbled upon a useful economic/employment indicator. I bought a Day/Weekly Planner this morning for 2009. The one I bought typically sells for $18 but not today. I got this one at CVS for $5.99.  So, why for? If everything is so peachy people should have  "Great Expectations"  for 2009. Especially here in Broward--major, major Obama land.

[Paint Your Wagon]

Please , pretty please , I want to be a bank too 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aC95ZNbi6j5c&refer=home

[Paint Your Wagon]

I will keep the money  under MY mattras

http://biz.yahoo.com/ap/081113/meltdown_banks.html

[longnine009]

Please , pretty please , I want to be a bank too 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aC95ZNbi6j5c&refer=home

You have to admit you can't even buy entertainment like this. One stooge goes out on stage and says:

"Our aim should not be more government. It should be smarter government," Bush said during a speech in New York, a day before about two dozen world leaders converge on Washington for a weekend summit he is hosting.

While the other stooges are behind the stage, shaving their heads and doing exactly what "Our aim should not be."

[Paint Your Wagon]

I have been playing at being a daytrader for a few weeks now
Watching four one minute charts whilst reading a trading forum
The real guys have six monitors and life feeds ; I only got two monitors and life feed only on the indexes

yesterday they were selling 30 years Treasuries and right up till the end of
the auciton the market Dow Jones etc and gold were way down and the dollar way up
A minute after the auction the markets shot up and gold shot up and the dollar dropped like a brick

That is entertainment

Today we probably continue up so that after the G20 meeting they can drop it like a brick
or shoot it up thru resistance depending upon how content they are with the outcome

[Paint Your Wagon]

Iceland is envious of Ukraine and Hungary who got money immidiately but Iceland deceived too many Europeans
by making their deposit money not available anymore ( and amongst them Hollanders which you should never cross )
Iceland also starts planning on marches and actions
I watch this closely because this might be coming anybodies way

http://www.bloomberg.com/apps/news?pid=20601087&sid=asLaQvoKH9Ec&refer=home

[longnine009]

Governments, politicians, and corporate pig faces aren't worried about protests. Dianne Feinstein's office got 90,000 emails and phone calls before the bail out vote and 85,000 were against it. She didn't care she voted for it.

[scottishmoney]

Icelanders should not be envious of Ukraine unless they would like to go without pay for two weeks, and then have no guarantee they will get paid even then.  They should also not be envious of the fact that when a bank fails in Ukraine, like has happened a couple of times in the last month, depositors will likely lose every last kopeika that was deposited.

When I was there people were pulling money out of banks like mad - and putting it into dollars.  I never had a problem getting rid of dollars when I needed hryvnia to pay for stuff.  In fact while I was there the Hryven went from 5 to the dollar to nearly 7, before it made a small recovery in value.

Ukraine is a two tiered cash economy, with the US dollar functioning as the currency of choice for all larger transactions.  Russia is very similar.

[Paint Your Wagon]

According to the 2% IMF definition we are there since a few months
Germany even put it in their newspapers this week

Time to look up the definition of Depression both Deflationary and Inflationary

[scottishmoney]

How do you spell 'Recession'?

Rather, how do you spell "Denial"?

[longnine009]

You guys should have more faith in the Ministry of Skin Heads:

"Bail outs are Prosperity."
"Fairy dust is collateral."
"Magic beans  are  investments."
"Brylcreem... a little dab will do us."

[Paint Your Wagon]

Once the most expensive vacation destination Iceland is now at half price . Offer only valid untill the price goes lower

http://www.welt.de/reise/article2717271/Island-gibt-es-jetzt-zum-halben-Preis.html

[Paint Your Wagon]

This is unbelievalble
The best European country is ........drum beat.....................France

Those latest Q3 rankings:

1) France: +0.1 per cent (avoids recession, overall European champion)
The Netherlands: Zero growth (two successive growth stagnations)
Austria: -0.1 per cent (first contraction since 1993)
Spain: -0.2 per cent (not in official recession yet, but heading there)
UK: -0.5 per cent (first contraction since 1992, follows zero growth in previous quarter)
Germany: -0.5 per cent (official recession, second official contraction)
Italy: -0.5 per cent (official recession, second official contraction)
(Par) Euro Zone performance: -0.2 per cent (first technial recession, personal best)

http://ftalphaville.ft.com/blog/2008/11/14/18256/france-storms-into-shock-first-place-in-european-gdp-final/

[Paint Your Wagon]

The G20 agreed on everything that was allready agreed before and probably at a nice time

They also agreed on 33 Trillion CDS credit default swaps

Note that
Some auction on some toxic paper was held and even the specialists were shocked because the price paid varied between
0.03 and 0.087 cents on the dollar ( I read it in two different cotations yes less then a tenths of a cent on the dollar for some collartorized obligations )

The leaders endorsed the use of clearinghouses for financial derivatives to back trades and absorb losses in case of a dealer failure. The first central clearinghouse for the $33 trillion credit-default swap market should be in operation by year-end in the U.S., under an agreement signed yesterday by three U.S. financial regulators.

http://www.bloomberg.com/apps/news?pid=20601101&sid=aaONtWkCHiUA&refer=japan

[TwoShadows]

I am still trying to convince the government(s) that I AM the reason for all the worlds financial failures and I need 700 billion to straighten it all out. If nothing else they will be dealing with me, and my staff, who are basically all honest poor men who have never screwed one taxpayer out of one red cent. Who knows we might just succeed. But first, please send the requested 700 billion so we can go to work. Everyone here, posting on this forum, will play a major role in the distribution of these funds as we go about stimulating the worlds economy! Sounds like a good plan to me!

[Nighthawk]

Yeah, I'm gonna take my share of the loot and go out and buy me some real nice coins..heh,heh,heh...

[longnine009]

Can I mail my worthless lotto tickets to the Brycreem boys and get some "relief" here. I'd like to use the "relief" to go out and do the same thing all over again.


****************************************************
AP - 1 hour, 41 minutes ago

WASHINGTON - Hardline opponents of an auto industry bailout branded the industry a "dinosaur" whose "day of reckoning" is near, while Democrats pledged Sunday to do their best to get Detroit a slice of the $700 billion Wall Street rescue in this week's lame-duck session of Congress.
*******************************************************

I wonder what they would call buying  wallstreets used toilet paper for 700 billion dollars?  Oh, now I remember, they call it a "good investment for taxpayers."  If that sounds familiar it's because you heard something similar. NAFTA: "This will be good for America and good for Americans."

Oh, and speaking of dinosaurs, how'd that Bolshevik experiment turn out?

I have to spend some time looking for satire medals/tokens on these jokers. Someone has be striking something.  It's all just too funny to pass up.

[Paint Your Wagon]

I am still trying to convince the government(s) that I AM the reason for all the worlds financial failures and I need 700 billion to straighten it all out. If nothing else they will be dealing with me, and my staff, who are basically all honest poor men who have never screwed one taxpayer out of one red cent. Who knows we might just succeed. But first, please send the requested 700 billion so we can go to work. Everyone here, posting on this forum, will play a major role in the distribution of these funds as we go about stimulating the worlds economy! Sounds like a good plan to me!

Well try the strategy of the Murphy film The mouse that roared 
And ask for 5 Trillion $ that would be eyecatching 

In the meantime the story of the succesfull looters " The Viking Raiders " A few dozen brave man that plundered iceland and left on their private yets with the country in debt many times the gross national product . The UK invoked terrorist law to block the icelandic bankaccounts and tries to get back like 4 billion owned to UK alone . In the meantime the ministry of iceland said they have enough money to get fuel and food thru the winter . It seems the icelanders are not comforted by this .

http://www.ft.com/cms/s/0/66c87994-aec1-11dd-b621-000077b07658.html

[Paint Your Wagon]

Confessions of a window cleaner . Oops wrong title .

Freddie Mac says it is worth less than zero

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5158476.ece

[Goose]

Ah, 'The Mouse that Roared'......one of the best movies I've ever seen. What is it, about 50 yrs old? And Peter Sellers....in a semi-comical role really made the picture.

[longnine009]

Confessions of a window cleaner . Oops wrong title .

Freddie Mac says it is worth less than zero

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5158476.ece

No even a tube of Brycreem? 

Next comes the part where Barney and Chris pop their fingers on a podium like JFK used to do (hope barney doesn't hurt himself) and say: "I'm shocked, shocked to find gambling." ---Casablanca   

Then Ingrid will turn to Hank: "A Franc  for your thoughts?"
Then Hank will say: "Your not charging enough. Back home the thoughts of our corporate talent  are worth trillions."

And then skin head #2 will say: "Pay it Sam. You paid it to AIG, (twice) you can pay to GM. Pay Sam, Pay it."

Sam, always compliant with skin heads:
 
"You must remember this, we're  going to the abyss, we're  ruled by korporate fascists, as our money goes bye,bye...."

[longnine009]

Sa-praz, sa-praz, sa-praz.  Maybe they should let bush stumble around outside a bit more or at least let him look out the window.

http://news.yahoo.com/s/nm/20081117/ts_nm/us_usa_economy;_ylt=Aoa_irLoLqDOotz3.0uOqOus0NUE

[TwoShadows]

If the government was really SINCERE about stimulating the economy they would have divided that money up between all taxpaying, working Americans to the tune of $495,000 per household. The government would get $135,000 back in taxes and the American people would have PAID off mortgages, thus eliminating he mortgage crisis,  bought new cars, trucks, homes, TVs, food, clothing and a few vacations. Now wouldn't that stimulate the economy a lot quicker than giving the fools that dug this hole the money to try and dig their way out? No matter how much you dig, doesn't a hole just get deeper?

Or as a woodworker, I would say, "I don't know what is the matter with this board! I have cut it three times and it's still too short?

[scottishmoney]

If I thought the government had any money left, I would haul off and declare war on the USA.  Then demand reparations but only a percentage of what went down that giant sinkhell in the desert.

[longnine009]

Or as a woodworker, I would say, "I don't know what is the matter with this board! I have cut it three times and it's still too short?

You might persuade Paulson  to outlaw shorting boards. Then, suddenly, your board will be perfect. Either that or he'll walk around in circles looking for the board stretcher so he can get some arbitrage out of it. 

Speaking of skin heads, my  barber keeps telling me she'll keep cutting my hair until she gets it right or until she runs out of hair. 

[Paint Your Wagon]

What times we are living in
Like the pirates of the Carabean and the pirates from the French empire that had lettres from the king allowing this
Only the pirates moved to East Africa cost because most of the shipping passes there and the Suez canal is there
Can you believe they pirated one of the big oiltankers ?
Now apart from ransom it is a little bit difficult to sell the oil

http://www.bloomberg.com/apps/news?pid=20601087&sid=aXaCt56YzhY8&refer=home

[Paint Your Wagon]

If the government was really SINCERE about stimulating the economy they would have divided that money up between all taxpaying, working Americans to the tune of $495,000 per household. The government would get $135,000 back in taxes and the American people would have PAID off mortgages, thus eliminating he mortgage crisis,  bought new cars, trucks, homes, TVs, food, clothing and a few vacations. Now wouldn't that stimulate the economy a lot quicker than giving the fools that dug this hole the money to try and dig their way out? No matter how much you dig, doesn't a hole just get deeper?

Or as a woodworker, I would say, "I don't know what is the matter with this board! I have cut it three times and it's still too short?

You are right on discretionary bail outs
The US needs like two trillion dollars in treasuries sold so they need to save the banks and institutions so that the chinese and japanese and english keep buying those treasuries cause they still trust the good US of A . So they must save the evildoers because the population has negative savings
But instead of giving 200 billion to GM without solving the problems there and without returning GM to a viable company they could let it go Chapter 11 and give the 200 billion dollars to the people . We know of course they will not do that ( like in the joke I posted in the joke thread )

[longnine009]

What times we are living in
Like the pirates of the Carabean and the pirates from the French empire that had lettres from the king allowing this
Only the pirates moved to East Africa cost because most of the shipping passes there and the Suez canal is there
Can you believe they pirated one of the big oiltankers ?
Now apart from ransom it is a little bit difficult to sell the oil

http://www.bloomberg.com/apps/news?pid=20601087&sid=aXaCt56YzhY8&refer=home

I'm surprised that doesn't happen regularly. Even if you hired Black Water thugs to defend against pirates boarding it's still an oiler. They can always stand off and threaten to put RPG up their  butt.


Jimmy Buffett--A Pirate looks at Forty

"And I have been drunk now for over two weeks
I passed out and I rallied and I sprung a few leaks
But I got stop wishin, got to go fishin
Down to rock bottom again
Just a few friends, just a few friends"

He could just as easily been singing about
wallstreet today.  

[Paint Your Wagon]

Is the CIA printing dollars of better quality then the US mint itself ?

http://en.wikipedia.org/wiki/Superdollar

[TwoShadows]

Do any of you remember the theme song to Rawhide? I can hear the same thing today.

Rollin', rollin', rollin', KEEP those presses rollin'!  I can hear them singing that all the way up hear from Texas. Money sure comes easy when you got your own printing press!!!

[longnine009]

Yeah, the Blues Brothers posing as the "Good Ole Boys" sang it for most of the night in the movie. They're still  singing it and still posing as "Good Old Boys" thirty years later. They're just older and have slightly receding hair lines. And they don't wear sunglasses so you can see their sneaky beady eyes now. 

[Paint Your Wagon]

Do any of you remember the theme song to Rawhide? I can hear the same thing today.

Rollin', rollin', rollin', KEEP those presses rollin'!  I can hear them singing that all the way up hear from Texas. Money sure comes easy when you got your own printing press!!!

ah yes good ole Franky Lane I got the double album
....if you have'nt gambled for love in the moonlight and lost you have'nt gambled at all ....
So those printers are not gambling

[Paint Your Wagon]

These days many writers write about the Baltic Dry
Ok it fell by 90% but we need food and heating and gazoline and we do not really really need toys and stuff
So no dry is needed

http://www.gold-eagle.com/editorials_08/orlandini111808.html

[TwoShadows]

Well I got a huge laugh tonight as Congress drilled the 3 stooges in Washington. Oh, I mean the CEO's of Ford, GM and Crysler. One congress man asked them "How they got to Washington?"  They all flew in private corporate jets at a cost of over $20,000 each. (Company money) He then asked for a show of hands from each man who was going to sell his corporate jet immediately following the hearing and buy a plane ticket to fly home. NO ONE raised a hand. It appears someone in Washington KNOWS why corporations are broke now doesn't it? But still the show must go on and it is only a matter of time before the taxpayers get to bail out another badly run industry with riches at the top no matter what the bottom line my be! Rollin, rollin, rollin.......over my RAW HIDE!!!

[longnine009]

He then asked for a show of hands from each man who was going to sell his corporate jet immediately following the hearing and buy a plane ticket to fly home. NO ONE raised a hand.

I'll bet he never asked  for a show of hands of who in congress would vote  against the next mid-night pay raise. 

I read in Daily Reckoning that Big Ben was questioned by Ron Paul as to whether there are discussions taking place with his fellow cohorts to replace the dollar with some kind on international currency. Ole Ben managed to keep a straight face and say the U.S Dollar is the premier currency in the world.  Hehehehe, that might be the best sign of all of "Rolling, rolling, rolling..."

[scottishmoney]

After the auto companies are done screwing the taxpayers, then it is the airlines, and then the poor oil companies.  When does it end?  AIG, Morgan Stanley, Bear Stearns, WaMu, GM, Ford, Chrysler, ExxonMobile, ChevronTexaco;  everybody on the dole - this is Capitalism?

The future is looking red, socialist red.

[Paint Your Wagon]

Fortis was a big belgian-dutch bankconcern and went bankrupt twice and now after being save twice the bankpart is given to the french BNP bank
The mother holding of Fortis has nothing but derivatives and insurance and is quoted below one euro on the stockmarket
It is just made public today that their new new CEO gets 800 000 euro per year in salary (untill the last stockholders euro is gone  ).

Happily they are surpressing sentiment so much I got an half ounce proof Monnaie de Paris coin for 11% below melt 
Will post pic when it arrives

[Paint Your Wagon]

Pirates want 10 cents on the dollar
That is better then the crooked banks are getting on their collaterized debt
Maybe the banks should consider piracy ? Whoops they are allready there holding up government are'nt they ?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aygbyy2s5rnM&refer=home

[longnine009]

After the auto companies are done screwing the taxpayers, then it is the airlines, and then the poor oil companies.  When does it end?  AIG, Morgan Stanley, Bear Stearns, WaMu, GM, Ford, Chrysler, ExxonMobile, ChevronTexaco;  everybody on the dole - this is Capitalism?

The future is looking red, socialist red.

We're already socialist pink. Fifty percent of the U.S population is dependent on some kind of a  check from the federal government.

In the mean time the middle class scratches it's head and looks around like the mullet in a poker game who  can't figure out who the mark is. With the exception of the upcoming  EL Cid to the rescue dog and pony shows-- of which I recommend Gov. Charlie Crist as set director -- no one is going to be riding over the hill to save the middle class. What would be the purpose of that? Vampires don't put blood back into their victims neck. Sorry, the vampires plan to suck even harder, perhaps so hard the host will finally die.  What will the vampires feed on then--each other I hope. What will be the reaction from a nation of no-load parasites  when they don't get "their" checks?

This government  and wallstreet (same thing) is being run by the same draft dodging LSD freaks who protested against it in the 60's & 70's.  They're not afflicted with  "acid-reflux," whatever  that is--they're afflicted with  acid flash-backs. "Red, oooooh the colors, soooo tube-uler  man..."    

                                     Got Gold?

[Paint Your Wagon]

But in the meantime dumb Billionaires can go bankrupt too
How greedy you can get if you have Billions to risk your future on a bet by selling Volkswagenshares you do not have and then
Porsche makes a bid on Volkswagen and you cannot buy the shares anymore because you sold a lot more then can be had 

http://www.bloomberg.com/apps/news?pid=20601087&sid=ay9DdTu86NM4&refer=home

[longnine009]

Pirates want 10 cents on the dollar
That is better then the crooked banks are getting on their collaterized debt
Maybe the banks should consider piracy ? Whoops they are allready there holding up government are'nt they ?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aygbyy2s5rnM&refer=home

Paulson is practically swinging through the yard arms like Errol Flynn.
 
I saw yesterday that yields on 91 day treasuries have dropped to 1/10 of 1 percent.  So scarred investors  are now flocking to the same people who caused the disaster in the first place. Hollywood couldn't produce something more hilarious than this stuff.

[Paint Your Wagon]

Yes everybody is buying Trashuries
They will have to go to a negative yield like the Swisse did in the past to get those pesky buyers away
And that may not be enough since those idiits don't know they are better off buying gold and silver

http://www.bloomberg.com/apps/news?pid=20601110&sid=aGUkS.u1AtNI

[longnine009]

But in the meantime dumb Billionaires can go bankrupt too
How greedy you can get if you have Billions to risk your future on a bet by selling Volkswagenshares you do not have and then
Porsche makes a bid on Volkswagen and you cannot buy the shares anymore because you sold a lot more then can be had 

http://www.bloomberg.com/apps/news?pid=20601087&sid=ay9DdTu86NM4&refer=home

 "That which is about to topple should be pushed over."
 
You just better make sure it's not going to fall over on you. Something their corporate "talent"  apparently didn't do. Maybe they were pre-occupied thinking about those year end bonuses for a job well done?

But that's  how  real Capitalism is suppose to work. The hunter can easily became the hunted. Don't worry it won't stay real much longer I'm sure. They'll whine that they were set up in a bear trap and it's not fair and they're too big to fail. As Bill Bonner would say:  HUMBUG!

[Paint Your Wagon]

In the meantime our King just Knighted the yearly lot so they can go titled and blueblooded into the new year 

At least we knights got a real silver medal 

[longnine009]

Yes everybody is buying Trashuries
They will have to go to a negative yield like the Swisse did in the past to get those pesky buyers away
And that may not be enough since those idiits don't know they are better off buying gold and silver

http://www.bloomberg.com/apps/news?pid=20601110&sid=aGUkS.u1AtNI

Yeah but that allows real investors to buy gold and silver low from the idiots  and then sell it back to them high  when the vampires start feeding off each other and there's nothing but social upheaval in the world. 

Long live the idiots! They're not only good for us, "it's the law." 

[Paint Your Wagon]

Yes everybody is buying Trashuries
They will have to go to a negative yield like the Swisse did in the past to get those pesky buyers away
And that may not be enough since those idiits don't know they are better off buying gold and silver

http://www.bloomberg.com/apps/news?pid=20601110&sid=aGUkS.u1AtNI

Yeah but that allows real investors to buy gold and silver low from the idiots  and then sell it back to them high  when the vampires start feeding off each other and there's nothing but social upheaval in the world. 

Long live the idiots! They're not only good for us, "it's the law." 

Long live Darwin

[longnine009]

Yes everybody is buying Trashuries
They will have to go to a negative yield like the Swisse did in the past to get those pesky buyers away
And that may not be enough since those idiits don't know they are better off buying gold and silver

http://www.bloomberg.com/apps/news?pid=20601110&sid=aGUkS.u1AtNI

Yeah but that allows real investors to buy gold and silver low from the idiots  and then sell it back to them high  when the vampires start feeding off each other and there's nothing but social upheaval in the world. 

Long live the idiots! They're not only good for us, "it's the law." 

Long live Darwin

Aye! He's on the way and he's really pissed off.

[Paint Your Wagon]

President-elect Barack Obama and Democrats in Congress are under pressure to push through another economic stimulus plan and give more aid to automakers

Hopefully the Dinosaurs are extinct by the time Obama has the right to give away more dollars


http://www.bloomberg.com/apps/news?pid=20601087&sid=a6mEfxa.SBf8&refer=home

[Paint Your Wagon]

Sign of the times, the Financial Times has started to list the US federal state’s tangible assets: military bases, national parks, public buildings, museums, etc… everything has been evaluated for a total amount of approximately 1,500-billion USD, i.e. more or less the probable amount of the budget deficit in 2009


http://www.leap2020.eu/GEAB-N-29-is-available!-Phase-IV-of-the-Global-Systemic-crisis-Breakdown-of-the-Global-Monetary-System-by-summer-2009_a2435.html?PHPSESSID=f943bd4ec3d7a5e209351512c4a6f316

[longnine009]

Too bad Moodys or S&P won't give trasheries a honest investment rating. If they did we could get this whole freak show over with in hurry and go back to being a country that produces actual products that the world actually wants to buy.

Notice that no matter how much everyone howled at the price of gasoline the politicians didn't lift a finger. A short dog and pony show here and there but they pretty much did nothing. Now the price of gas here is $2.15 a gal. Less  than half what it was last year. If they would just leave Capitalism alone and let it reward the smart and destroy the stupid everything would be fine. But no, the greater stupid in D.C have to try and show everyone how smart they are by "fixing" everything.

[scottishmoney]

Like the military bases are worth anything, jaysus knows they were heavily polluted and mostly became EPA sites after the military abandoned them.  The government that made the rules tends to be the biggest violator of them.

[Paint Your Wagon]

Today again anybody in shares was slaughtered
Only physical gold held at 745 and even went higher in euro

This guy from reuters says they are trying to drop money from helicopters but to me it seems like the banks are just sending it back where it came from , that is what is called paper recycling 

http://blogs.reuters.com/great-debate/2008/11/14/quantitative-easing-has-begun/

[longnine009]

The auto makers didn't get their bail out today because 28 million dollar a year corporate "talent" flew their 30 million dollar private jets to go beg for money from congress and when congress asked to see their business plan...

Derrrrr, business plan, what's dat?

Also today, although not too surprising, 3 out 4 college students can't name the 3 branches of government in the United States.

This is what we get for propping up a society of retards--bigger and better retards. 

[scottishmoney]

Today again anybody in shares was slaughtered
Only physical gold held at 745 and even went higher in euro

Physical gold is the only commodity or otherwise holding any value.  In fact it's value has been static when all other PM's have plummeted in value.  Silver is under $9.  People have to put their money somewhere where it will not completely erode.  Gold seems to be it.

[Paint Your Wagon]

attached is a sensible article in 30 items why there will be a depression by 2011
I personally think the guy is an optimist 2009 probably is closer to the mark

America's credit rating may soon be downgraded below AAA
Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"
Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse
King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets
Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year

http://www.marketwatch.com/news/story/well-great-depression-2-2011/story.aspx?guid=%7BB28B49B5%2DEFD1%2D4941%2DB57E%2DA2BA1545BA09%7D&dist=TNMostRead

[scottishmoney]

PYW you are preaching to the choir here.  I was raised by my Gram, and she grew up during the depression.  Yep, it is happening all over again.  All these false optimisms etc.  Deflation is already happening on a huge scale, from petrol, metals, property value etc. 

I looked at a larger house when I got back from Ukraine.  But then I thought... why buy it now?  The price will go down at least by a third in the next year so just wait til then, surely it won't sell in this cruddy economy.