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Post by P(D)enny La(i)ne on Oct 24, 2008 8:16:43 GMT -5
Things look REALLY bad for today. As of 9:15 AM: Nikkei was down 9.60% Hang Seng was down 8.30 % FTSE is down 7.98% DAX is down 8.91% And DOW Futures are down 550 points, which means that we might set off the DOW circuit breakers this AM. Take a quick look at the major world indices here: www.indexq.org/ OOOOPS. I almost forgot to mention that today is the anniversary of Black Thursday. 10/24/1929 I'm sure that's just an unplanned coincidence, though...
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Post by B on Oct 24, 2008 10:32:00 GMT -5
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Post by P(D)enny La(i)ne on Oct 24, 2008 10:43:59 GMT -5
"When Black Friday comes I'll stand down by the door And catch the grey men when they Dive from the fourteenth floor When Black Friday comes I'll collect everything I'm owed And before my friends find out I'll be on the road When Black Friday falls you know it's got to be Don't let it fall on me"
Fagen/Becker
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Post by iameye on Oct 24, 2008 11:04:49 GMT -5
Atlas Shrugged. Coming true? Maybe Atlas will stumble and break a toe. And the rest of us can carry the weight. ;D
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Post by iameye on Oct 24, 2008 18:43:47 GMT -5
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Post by sunsoflight on Oct 30, 2008 14:27:16 GMT -5
I found one I could hardly believe. "Mc Donalds Buy 1 Get One Free Coupons...Trade for ? ? ? - (st charles)"
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Post by B on Nov 11, 2008 22:34:33 GMT -5
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Post by Girl on Nov 12, 2008 9:33:45 GMT -5
Thank you, thank you, thank you... PRICELESS! ;D Star-begs.
Though Dagon's not likely to go broke anytime soon... no more 5-buck coffees for me!
LMAO, B.
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Post by iameye on Nov 12, 2008 9:51:08 GMT -5
I switched from butter to margarine.
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Post by ramone on Nov 12, 2008 10:44:36 GMT -5
Deathwish?
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Post by P(D)enny La(i)ne on Nov 12, 2008 11:15:46 GMT -5
Reuters Headline:
Obama Considers Summers, Geithner for Treasurywww.reuters.com/article/newsOne/idUSTRE4A974U20081111Erm....that would be...... THIS Lawrence Summers: Summers is known among environmentalists for having proposed the dumping of toxic waste in Third World countries, because people in poor countries have shorter lives and the costs of labor are abysmally low, which essentially means that the market value of people in the Third World is much lower. According to Summers, this makes it far more "cost effective" to export toxic materials to impoverished countries. A controversial 1991 World Bank memo signed by of Chief Economist Larry Summers reads as follows: DATE: December 12, 1991 TO: Distribution FR: Lawrence H. Summers Subject: GEP 'Dirty' Industries: Just between you and me, shouldn't the World Bank be encouraging MORE migration of the dirty industries to the Less Developed Countries? I can think of three reasons: 1) The measurements of the costs of health impairing pollution depends on the foregone earnings from increased morbidity and mortality.... From this point of view a given amount of health impairing pollution should be done in the country with the lowest cost, which will be the country with the lowest wages. I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that. 2) The costs of pollution are likely to be non-linear as the initial increments of pollution probably have very low cost. I've always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City. Only the lamentable facts that so much pollution is generated by non-tradable industries (transport, electrical generation) and that the unit transport costs of solid waste are so high prevent world welfare enhancing trade in air pollution and waste. 3) The demand for a clean environment for aesthetic and health reasons is likely to have very high income elasticity. [the demand increases when income levels increase]. The concern over an agent that causes a one in a million change in the odds of prostrate cancer is obviously going to be much higher in a country where people survive to get prostrate cancer than in a country where under 5 mortality is is 200 per thousand.... " Swell guy, huh? Lots more here: www.globalresearch.ca/index.php?context=va&aid=10860
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Post by faulconandsnowjob on Nov 13, 2008 2:50:32 GMT -5
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Post by P(D)enny La(i)ne on Nov 14, 2008 11:33:45 GMT -5
This is an insider view of the sub-prime mess. It's long, but WELL worth the read. The Endby Michael Lewis Nov 11 2008 The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong. Excerpt:"The funny thing, looking back on it, is how long it took for even someone who predicted the disaster to grasp its root causes. They were learning about this on the fly, shorting the bonds and then trying to figure out what they had done. Eisman knew subprime lenders could be scumbags. What he underestimated was the total unabashed complicity of the upper class of American capitalism. For instance, he knew that the big Wall Street investment banks took huge piles of loans that in and of themselves might be rated BBB, threw them into a trust, carved the trust into tranches, and wound up with 60 percent of the new total being rated AAA. But he couldn’t figure out exactly how the rating agencies justified turning BBB loans into AAA-rated bonds. “I didn’t understand how they were turning all this garbage into gold,” he says. He brought some of the bond people from Goldman Sachs, Lehman Brothers, and UBS over for a visit. “We always asked the same question,” says Eisman. “Where are the rating agencies in all of this? And I’d always get the same reaction. It was a smirk.” He called Standard & Poor’s and asked what would happen to default rates if real estate prices fell. The man at S&P couldn’t say; its model for home prices had no ability to accept a negative number. “They were just assuming home prices would keep going up,” Eisman says. As an investor, Eisman was allowed on the quarterly conference calls held by Moody’s but not allowed to ask questions. The people at Moody’s were polite about their brush-off, however. The C.E.O. even invited Eisman and his team to his office for a visit in June 2007. By then, Eisman was so certain that the world had been turned upside down that he just assumed this guy must know it too. “But we’re sitting there,” Daniel recalls, “and he says to us, like he actually means it, ‘I truly believe that our rating will prove accurate.’ And Steve shoots up in his chair and asks, ‘What did you just say?’ as if the guy had just uttered the most preposterous statement in the history of finance. He repeated it. And Eisman just laughed at him.” “With all due respect, sir,” Daniel told the C.E.O. deferentially as they left the meeting, “you’re delusional.” This wasn’t Fitch or even S&P. This was Moody’s, the aristocrats of the rating business, 20 percent owned by Warren Buffett. And the company’s C.E.O. was being told he was either a fool or a crook by one Vincent Daniel, from Queens." Read it all here:www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom?print=true
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Post by B on Nov 14, 2008 19:35:09 GMT -5
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Post by P(D)enny La(i)ne on Nov 19, 2008 15:43:26 GMT -5
My friends all know that I'm the "crazy" one among us who wastes too much time on "conspiracy theories". It used to be that they put up with it as an eccentric quirk, but lately they've all been asking me to explain to them why the "bailout" is a bad thing. I got tired of explaining it (because it's time-consuming), so I wrote a blog piece about it. My goal was to be thorough, but concise. Anyway, it's linked below, along with a few other pieces I've written since the last time I posted. I welcome any criticisms, as I know a lot of you are well versed on this issue. Thanks, PL frommynoggin.livejournal.com/
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Post by JoJo on Nov 19, 2008 17:14:39 GMT -5
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Post by P(D)enny La(i)ne on Nov 19, 2008 18:54:58 GMT -5
Thanks, JJ. I just fixed Golman, although I'm not sure they deserve the proper speling. And your Ben Stein story gets my vote, if only because of the splendid use the the term buttclown. As in... "Such a wonderful record you have there Mr. Stein! Why, you'd only have lost what - 40% of your money listening to this buttclown (the SPX was at 1440, more or less, on the date that column was published, down ~125 pts from its top! That was a time to buy?!)"
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Post by JoJo on Nov 22, 2008 18:30:44 GMT -5
Mccartney's Concerns About Credit Crunchwww.postchronicle.com/news/entertainment/tittletattle/article_212188196.shtmlSir Paul McCartney is so worried about the current global financial crisis, he's called in his accountant to ensure he doesn't lose his millions.
The former Beatles star, who is said to be worth as much as $1.2 billion (£824 million) was forced to hand $36.45 million (£24.3 million) to ex-wife Heather Mills in their divorce settlement earlier this year (08).
And now he's called in his financial advisor to make sure he doesn't lose any more money as the world faces a recession.
He says, "I actually did phone my guy up and say, 'How exposed are we?' He said, 'You're as exposed as everyone - if the banks all go broke'.
"But generally speaking, as far as the way we do business, there's not a huge speculative exposure."
But the singer isn't just worried about his own fortune - he insists he is "unhappy" at how the crisis is affecting other people.
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Post by P(D)enny La(i)ne on Nov 24, 2008 12:11:56 GMT -5
People of Lakota Launch Private Bank for Only Silver and Gold CurrenciesHill City, Lakota - November 24, 2008 - In a stunning development, the Free & Independent People of Lakota announced today the introduction of the world's first non-reserve, non-fractional bank that accepts only silver and gold currencies for deposit. "Today is a great day for us, a day that we begin to exercise our rights as a sovereign people with strength and pride," comments Canupa Gluha Mani, Tetuwan Council Judicial Member of the Cante Tenza "Strong Heart" Warrior Society. Mani's 2500 member warrior society has contracted to provide private security services for the Free Lakota Bank. "We invite people of any creed, faith or heritage to unite in an effort to reclaim control of wealth. It is our hope that other tribal nations and American citizens recognize the importance of silver and gold as currency and decide to mirror our system of honest trade." Mani, also known as Duane Martin Sr, is a member of the delegation that declared Lakota independence on December 17th, 2007. The launch of the Free Lakota Bank is also an incredible victory for StrikeForce Technologies, the access control experts providing depositor Out-of-Band Authentication. As the Free Lakota Bank does not require a name, photo identification or social security number to transact, StrikeForce's technology met the challenge of limiting fraud without requiring controversial biometric technology. The People of Lakota invite depositors to establish accounts and invest in the Free Lakota Bank's General Investment Fund, the fund it uses to develop profitable free-market enterprise inside Lakota territory. Mani comments that the nation despises donations and charity, and instead insists instead on "earning our wealth by creating value for those that place their faith and trust in our system." The Free Lakota Bank issues an American Open Currency Standard Approved currency, making it readily accepted for trade by over 10,000 merchants and businesses across the continent. For more information, visit the Free Lakota Bank website at press.freelakotabank.comContact: Canupa Gluha Mani service@freelakotabank.com P.O. Box 512 Hill City, LK 57745 888.784.9996 www.restoretherepublic.com/economy/people-of-lakota-launch-private-bank-for-only-silver-and-gold-currencies
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Post by JoJo on Nov 24, 2008 17:03:19 GMT -5
Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.Read MoreOK.. They need to be removed.. with butterfly nets because they have lost their minds.
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Post by B on Nov 25, 2008 10:20:40 GMT -5
LOL
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Post by iameye on Nov 25, 2008 12:48:14 GMT -5
hah hah, sounds like a good idea, jojo
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Post by P(D)enny La(i)ne on Nov 25, 2008 20:45:08 GMT -5
MONOPOLY Brand Electronic Banking EditionTrain your child to participate in the New World Paperless economy!!!
Complete with cross-marketing nonsense!!!!! ;D "Wheel and deal your way to a fortune even faster using debit cards instead of cash! All it takes is a card swipe for money to change hands. Now you can collect rent, buy properties and pay fines - with the touch of a button! It’s a new way to play the family classic that’s been brought up-to-date with modernized tokens (including a Segway personal transporter, an Altoids tin, space shuttle, flat-screen TV, baseball cap and a dog in handbag!), higher property values and locations based on your favorite landmarks Gameboard comes with title deed cards, chance and community chest cards, 6 debit cards, 2 dice, 6 tokens, 32 houses, 12 hotels and instructions." host.exemplum.com/hasbro/monopoly_electronic_banking/index.html
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Post by B on Nov 28, 2008 21:41:56 GMT -5
Yikes! Of course you know, all our money will be "Monopoly Money" pretty soon, so they say. Maybe they're trying to tell us something? Cashless society coming soon!
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Post by P(D)enny La(i)ne on Apr 8, 2009 15:34:35 GMT -5
Nope, nobody saw this coming at all.
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