Report: EU to consider Greek Default
Submitted by
CalculatedRisk on Sun, 07/10/2011 - 7:12pm (276 comments)
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Damocles and the sword he wrote in on...
Someone has run out of bag holders.
Match meet fuse.
Well it is nice to see them at least acknowledging a little bit of reality.
I suppose it was driven by the 'private sectors' unwillingness to 'voluntarily' take some hit - so they get volunteered for it anyway.
I should have added this in the last thread where it was much more on-topic, but here goes;
I have plowed through a bunch of 1st and 2nd interviews the past week or two, and now they are all turning into on-site and final interviews. One thing I was interested in during these phone calls/interviews was the condition of the companies I was being approached by. I asked, in a roundabout way, whether this was a replacement position I was filling or not. Mostly because I didn't want to walk into a place where I'd get the stink-eye from day one, but EVERY SINGLE ONE, was a new build out and new position.
It's going to be a busy week of on-site visits, and I'm hoping that by Friday I'll be picking between all the offers based on pay/circumstances. Still have severance coming until September, so any new position that starts before then is going to be gravy.
It started with the Bankers discussing how the Greeks were going to default.
Pretty soon the Finance Minister were on the same page.
the Greece crisis is similar to a Monaco Coach pulling a 22 ft Carver heading downhill on the grapevine without brakes and someone forgot to grease the wheel bearings on the Coach and Trailers....
Rob Dawg wrote:
Oh I'm not so sure about that - this is just one more hand off - not necessarily the last. Especially if it triggers CDS cascades.
How do you say "me too" in Gaelic ?
They will just cover the haircuts.
Conventionality - and fear of ratings agencies - really does belong to yesterday.
Hurrah! What field?
RevolutionWillNotBeTelevised wrote:
Good news. Let us know how it goes.
Italy has a way of focusing the mind on the essentials.
How will this help Italy?
Spent the day watching Mergansers fighting the current headed upstream looking for grub...
The river is still too crazy to swim in, but we've got a nice shallow hidden away wading pool about 15 x 15 feet that goes up to your kness, that will do for now.
The ducks knew nothing of 401k's, or potential defaults on mt everest sized debts, I envy them~
At their meeting today, they are expected to examine the feasibility of moves which would lead to a “selective” or partial, temporary default on some Greek debt without leading to a full-blown default.
i'm thinking the best way to handle "selective" default is to make private bondholders whole and breaching the ones held by taxpayers.
Time to fall back to a more defensible position--only defaulting on weekends.
RevolutionWillNotBeTelevised wrote:
A friend of the family got laid off recently - an engineer in the Dakotas - he went to the Twin Cities where his wife is from and got two offers better than his last job BEFORE his first severance check was cut.
Sweeeeeeet.
Juvenal Delinquent wrote:
Me too.
Those hunter / gatherers look pretty good from my current position.
lawyerliz wrote:
The longer the default story runs (and it might have run on for too long already) the more questions arise as to the solvency of other sovereigns.
Italy was the one sovereign that they always worried about and nobody dare wanted to mention in public.
Juvenal Delinquent wrote:
Here.This will help focus the attention of those lazy birds.
Duck a l'Orange
Liz,
IT - Network and Systems Admin, all but one as a Sr. level position. That one being a management level, or I'm assuming from the lightning speed they wanted me in after the second interview to conference with management. It was almost literally right after I hung up the phone, that I got a reply back for the teleconference request.
Duck is yummy.
I still don't see how this helps Italy.
Congrats and best of luck
dryfly wrote:
I'm beginning to think I'd like to see a CDS cascade. It might be just what we need to hit a flush point.
Basel Too wrote:
Is that the same as if Ben forgave all the US bonds the Fed bought?
But the banks, pension funds etc remain whole?
Maybe that's why Geithner has to stay on. In case Goldman winds up on the short end of the CDS lottery.
I am glad for your
.
For some reason they worry about 'debt contagion' which is curious wording because almost all of Europe is already up to their eyeballs in debt. The correct term should be 'panic contagion' as bond holders panic about being paid.
Skittles the Unicorn wrote:
Duck Fried rice via my favorite Thai eatery rocks..
lawyerliz wrote:
It doesn't directly but for EU finance minsters Italy HAS to get out of the news! They hope that a Greek resolution will get the story off the front pages. It's likely too late.
And everybody does know about it, right?
Duck and Cover (jumps under school-desk...)
no, because Ben's cash is created out of thin air.
it'd be like the US or CalPERS forgiving the debt, then telling everyone that we need austerity to pay for the default.
"Also on the table is the revival of a plan rejected four months ago in which the euro zone bailout fund — the European Financial Stability Facility — would intervene in markets to buy Greek debt at a discount to its original value."
Who keeps sticking that reasonable option back on the table?
It's one of the best options they have. It's massively less expensive than trying to get all the debt paid off at par. Retiree 200 euros of par value for 100 euros. I think the German criticism was wrong. They imagined interest rates would start to go back down quickly on Greek debt and not much would get retired. Just keep messing with the plans and giving conflicting press releases. Let investors worry that they will get stuck with an even worse default. Then you can keep buying lots of debt back at half off.
Thank You Liz, and everyone.
It's been a great 3 weeks of traveling around for small day trips in the meantime. I'll almost be sad to see it go, it has been a great summer
Basel Too wrote:
Thanks, got it.
lawyerliz wrote:
Actually, Europeans aren't really any better informed than your average American. The stats are published but there is not the same level of alarm over debt as here, even though most countries are worse than U.S. levels of debt to GDP. Maybe because they don't have Faux News spreading the alarm.
...in Hell
Greeks are the tax collectors and the Italians are the politicians...
some investor guy wrote:
You mean, no matter what actually happens, somebody makes a euro on the deal?
Is that somebody a somebody we know?
You know one thing I learned after raising kids--and it took a long time to learn--was, if you were gonna give in, do so only after a little whining. If the whining goes on for too long, and you give in, you have taught you issue that whining works, and they will do more of it, and will be even more annoying that you ever thought possible.
Also, like little cram downs, it won't work any more.
Consider the 37k asked by B of A on the condo the son likes. Had B of A (or Countrywide) cut the balance on the defaulter by 10 or 20 grand, they might have kept making the payments! Now it's like, 20 cents on the dollar, or less.
I start a new position tomorrow for a auto software company.. the ceo is starting to bug me with emails must be replied promptly content on last couple emails and I don't even work for the guy yet....so jury is out on length of stay...
RevolutionWillNotBeTelevised wrote:
Tell 'em all you had a previously scheduled vacation in August and can't start 'till after Labor Day.
RevolutionWillNotBeTelevised wrote:
That was the way it was for my friend of family - he went down to the Twin Cities to have a lazy job search, do some fishing & golfing - hang out and collect severance & UE. Now he's going to have to go back to work immediately [part of the condition]... I told them maybe next lay off. Severance will all go into savings and paying down his wife's student loans - they will be nearly debt free making close to $100K or more and only 26 or so.
Not too shabby.
Rob Dawg wrote:
Run ? The fat git can barely walk . here's a pic.
Big Belly Of A Fat Man Isolated On White Stock Photo 46952050 : Shutterstock
headed for a heart issue - rates a quad bypass IMO.
Rajesh wrote:
For cherry-picked values of debt. Why are politicians talking about cuts to social security if it doesn't really count as debt?
This thread is much less
y than the last thread. It's amazing how a little talk of default can cheer everyone up!
RevolutionWillNotBeTelevised wrote:
Well done - and pick well.
RATM wrote:
Because they hate old people, of course.
lawyerliz wrote:
which tbtf bank does it help?
skk wrote:
You make it sound like that photo is a bad thing. That's the WalMart way, partner. Are you some kind of furriner?
(Now is the time to buy. Except in California, which I do not understand at all.)
RE wrote:
Berlusconi's clown act was never particularly subtle. Nor was W's, for that matter.
Rajesh wrote:
True, and there's nothing like a
slumdog to make everyone extra-crabby.
Other ships did not stop to pick up people, a survivor said.
Now there's the russian spirit!
Well that's not very
ish.
...the usual story
A friend in federal law enforcement is thinking of transfering to another agency, which has 3 jobs available and 500-600 applicants already. To qualify for this position you'd probably need 5-10 years experience, no rookies even considered-why would you bother with the feast assembled?
sportsfan wrote:
The people making money are the Greeks, and anyone directly risking money on their bailout. The losers are the people who own bonds and sell them because they are worried about default.
Also, a young couple came by today to look at the house for sale next door while I was out in the garden. I stopped to talk to them for a bit, and they had said they were looking at houses to buy for rental properties. This house has been on the market for 15 months now. They had asked if I knew what they were asking(I did, and I think its still way to high), and I told them how long its been listed, and they could probably talk the guy down and get a good deal. By now, I'm sure he just wants to unload it since tax payments are coming due, and they aren't cheap around here.
I've enjoyed the empty house next door, its kept mowed and looked after, so I'm kind of conflicted about it being sold now. As they were leaving, I said to them 'If you buy this place, rent me out a nice single girl'
Skittles the Unicorn wrote:
LOL ! Indeed I am - one particular job prospect - I had to tell them that I'm a dual citizen and a UK passport holder and well ( Which means my movements in and out of the US can't be tracked - no really that's the discussion ) - however much fun this might be this one won't work. Nice duck IMO. no ? So far it hasn't been suggested - well technically you could just get your Brit passport cancelled. I'll cross that bridge as needed.
Youi've seen the Walmart people website no doubt. I won't link to it. This stuff is amusing ( yeah I find it funny) when everybody is happy-dippy. when they aren't, and they aren't then some empathy is required.
All of Asia and US futes modestly
, the EUR/USD cross is rattling around 1.42, let's see what kind of :bunny: they pull out of the hat in the morning...
some investor guy wrote:
That first group I can understand. On the second group I'm wondering who the members happen to be.
dryfly wrote:
This just happened to me too. Laid off in May with 399 others, found a job (software) at the same rate of pay (remarkably) without really even looking for it. I applied for maybe five jobs total (in between doing summertime goof-off stuff), had callbacks from three, interviewed at two and took this job after a round of amicable negotiation. Got my price, and total time on the street was about 6 weeks. With severance, I double-dip til mid-August. So,
here. Pretty 
greenchutes wrote:
Moscow Mule.. I looked it up yanno ( eat yer heart oops I mean liver out, iambroke ) - its a freaking '50s US drink..
What on earth are REbbekah Wade/Brooks ( Murdoch arse licker and CEO ) and Cameron ( Prime Minister of the UK ) and Freud ( wonder if he's related to the Freud ) doing drinking US 1950s drinks ?
Pretentious, MOI ?
but then I've seen people drink Sol beer ( mexican ) in the UK and thinks it tres cool. Sheesh.
yeah but I thought if the Greeks defaulted it was the end of the world.
Good for you! And if you ended up taking a job in Mass and bring the $$ home to NH, all the better.
When the inevitable collapse comes, aside from celebrating being right, what's next?
It'll be a lot less interesting to me after the fact, jack.
Comrade Canadien avec popcorn wrote:
Selective default, only some of the world ends.
How do they pick? Who don't they like? Who makes a mint from the CDSs?
Comrade Canadien avec popcorn wrote:
We haven't read the US MSM account yet have we? Might be some angst over here if the CDS was written by the squid.
One thing 2011 has taught us is that the end of the world is a tricky thing to predict.
skk wrote:
Don't say "Hola" unless our entire conversation will be in Spanish.
Stay thirsty,my friends.
Sol beer is just bad...
Outsider wrote:
True - the Mayans tell us its 2012 right?
OT and back to the U.S.: early yesterday Pearl mentioned that the Ibanez case had been cited by the Nevada Supreme Court. It actually happened on Thursday, but a newspaper story is finally out:
State Supreme Court finding flaws in some foreclosure filings - Sunday, July 10, 2011 | 12:56 p.m. - VEGAS INC
I previously posted the links to the cases, but for those who love the bank-bashing details involved, a repeat:
Pasillas v. HSBC Bank USA
Leyva v. National Default Servicing Corp.
2012 promises to be a Codex moment.
Comrade Canadien avec popcorn, " yeah but I thought if the Greeks defaulted it was the end of the world. "
Naw, Just the beginning of the end, the fed can draw it out for months/year maybe. There is still plenty of loot to be had.
greenchutes wrote:
Not very subtle... Bunga!
dryfly wrote:
How selective will they be about whom they default on?
JD, you're just trying to up your comment count.
Outsider wrote:
Hah! Thanks! I have most certainly been guilty of that trick from time to time. Couldn't brook the thought of that daily drive again though. And what do you know, I stumbled into a good gig right here at home.
Speaking of that, the ages-old NH-MA crab battle continues (the comments are always a hoot)
JD, you are getting that double tap down to a science.
Juvenal Delinquent wrote:
Jd - you watching The King's Speech or a Michael Fox movie?
Juvenal Delinquent wrote:
Just talked to my son, who is driving back from a weekend of rafting the American River. It was a reassuring conversation.
I saw that this evening - ha.
Thank you Mass for your kind support of our state.
Bubblisimo Gerkinov wrote:
I don't know if they can even know - given the surrogates, subsequent trading of positions, SIVs and off balance sheet dancing.
Seriously - its like looking down the rabbit hole from above and predicting who wins the Queen's race.
Outsider wrote:
And your supply of trophy husbands. I got mine! W00t!
sportsfan wrote:
NoNoNo.. he was doing a JackOFBothSides Thang.
look up codex, look up Jack, look up duality in early christianity.. No I'm not making this up. we know JD is familiar with Czechoslovakia and we know he throws in a sly one or two :
Yeah I do ( well DID to be honest. - Ruth. RUTH C. ?? ) cryptic crosswords..
next up Spainnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn with the pain
Drought forcing extreme measures for area farmers »
Local News »
Pauls Valley, OK, Pauls Valley Democrat
I’ve heard my dad talk about it being like this back in the 1960s,” said Lam, who works in the region as a
Garvin Conservation DistrictGreek representative. “We havepondsbankers that are dry, we’ve even done grazing where we’d normally cut hay now.”Lam, who also works land for area farmer Joe Thompson, has already had to overcome crop damage back in May from feral hogs.
For only the second time in his memory has a failed corn crop had to be converted into silage, which means a loss financially instead of profit to pay to run machinery and workers, some of whom are seasonal hires from South Africa.
The north fork american is some impressive water to raft when it allows it..small season is the usual...
I have 3 uncles and 1 aunt who are guides on the american and Stanislaus..
So I made some progress on server updates this weekend, and checked in for Sunday Night Futures.
Hoocoodanode it was Country Failure Sunday again?
RevolutionWillNotBeTelevised wrote:
Congratulations!!!
Wha wha what about this crap from last week?
The ECB said it would indefinitely suspend existing rules that require at least one investment-grade rating by a major rating agency in order to accept government bonds as collateral for ECB loans.
Oh I see now: " ECB ^suspend existing rules^loans"
The loans protected moreso are ECB loans, but the other loans ... well, there yah go, the
has to walk into the 
sm_landlord wrote:
Same countries, different Sunday.
Enjoying some Fess Parker Riesling we picked up on our winery tour today.
Doc Holiday wrote:
We live in
internetbankster time.Rajesh wrote:
RD, " Enjoying some Fess Parker Riesling we picked up on our winery tour today. "
Niiiiccceee, Danel Boon makes a good Wine.
Art Eclectic wrote:
Like totally, this is what it's all about
Doc Holiday wrote:
That, and I got the short positions that I wanted at just the right time last week
A screw cap bottle ? Jeez.
Put a cork in it.
Rob Dawg wrote:
If you like whites, and ever get to Mendocino, check out Navarro: Navarro Vineyards and Winery
Really inexpensive, and their quality keeps getting better and better. This spring's sampler was amazing for the price range.
If you prefer Pinots, no bargains here, but you gotta check out Roederer: Anderson Valley Sparkling Wine | Roederer Estate
They are better known for champers, but they bottle the left-over pinot and it is insane.
skk, " Put a cork in it. "
CORK, takes to long to dig out with my pocket knife.
Bad Dawg Bobby wrote:
????
Screw tops seals better and maintains the wine better, heck, most corks are synthetic now days.
Bad Dawg Bobby wrote:
woot, you don't just smash the neck against the nearest wall ?
Can we just start over with the Greek thing ... who and what is at risk here? Is it just the ECB loans or is it the whole Baklava ... e.g., all the debt that the Greeks have are wrapped up in loans to every bank in Spain, Portugal, Germany, France, etc.... yah know, I don't really care anymore....
Pretentious, moi ?
skk wrote:
Good thing ratings aren't everything. Sitting on the porch eating homemade flour tacos this makes a fine sipping wine. I tasted it today at the winery and we said, this would go good tonight.
Bubblisimo Gerkinov wrote:
So I wonder what the tone will be in the debt ceiling talks tomorrow if the Euro goes thud?
Rob Dawg wrote:
If you are headed up the coast further, don't miss my favorite hidden winery - Kelsey See Canyon.
Kelsey See Canyon Vineyards
skk wrote:
To cork or not to cork? - East Valley Tribune: Living Well
I have encountered this predicament personally for more than 15 years. Often, I have a guest snicker or sometimes gasp with disbelief that we serve screw-cap wines in our restaurants. This is the first in a two-part series examining the history of cork and the problems it presents, followed by the introduction of screw caps and their advantages.
First, let’s examine cork. What is it? Most of you probably know that it comes from a tree; more specifically, it is the bark of the cork oak, and it is grown mostly in southwest Europe. Half of all cork produced worldwide is from Portugal.
Fess Parker wine? Boone's Farm????
skk, " woot, you don't just smash the neck against the nearest wall ?"
Use't to but kept cutting my lips.
Reminds me of an old WWII newsreal. Princes Elisabeth broke a bottle of coka-cola to inagurate a plane or ship or something,
but then acted like she was going to have a drink from the bottle,
about five men in uniforms Jumped to grab the bottle,
she stepped back an laughed.
I'm catching up on work that needs to be done while physically present in LA County, due to the upcoming 405 Freeway Closure Will Make July 16, 17 the 'Carmageddon' of Traffic Mayhem in Los Angeles - Los Angeles News - The Informer
What a town, LA: A mountain range runs through it, nimbyism assures that there will never be more routes added across the mountains, and now they're about to shut down the biggest artery across the hills for a few days to add HOV lanes. Oh, and they're going to shut down some ancillary routes as well (like Sepulveda). I saw an announcement today that there will be no postal service, no UPS service, and no Fedex service for the duration. They might have it back open by Monday, the Auto Club says: Don't plan on it.
Lovely.
sm_landlord wrote:
Wow. Didn't know that. Beverly Glen will be... interesting.
skk wrote:
Screw caps are fine for any wine that you don't plan to cellar. Which is just about all whites.
greenchutes wrote:
Cue mp: BWAHaHaHahahahahahaha!
==> "There’s a difference between the exchange-eligible government bonds currently warehoused in banks’ collateral pools at the ECB, and the country’s overall issuer rating, which also influences government-guaranteed bonds issued by Greek banks. We will assume the ECB will be going shopping for issuer ratings (under its framework it appears to have a choice to do so)."
Bad Dawg Bobby wrote:
HAHAHAHAHAHAHAHA ! That sounds like Margaret - dead now - quite a card - normally I'd have rated her but I know what a racist cunt she was so that rather takes the edge of things for me - what with my ox getting gored 'n' all. Did you know that Eric Clapton is on record as quite a racist shit ? No really. takes the edge of things for me.
Well we have a 3 day old Middle Sister - Surfer Chick sauvignon blanc in the fridge. truly dreadful. I'm not touching it.. neither is the wife. I'll have to cook up some mussels tomorrow I suppose and use it up.
Well if you don't try it you don't know what dreadful shit there is out there do you ?
Cue Middle Sister to correct me.
Fascinating table posted today about changes in wealth by class (quintile) through 2009:
Changes in Average Wealth by Wealth Class 1962 - 2009
Note who took by far the biggest hit despite the stock market crash. Housing killed the lower 80% and wiped out the lowest 40%.
Obama to address the nation on the
charadedebt ceiling again tomorrow.News from The Associated Press
Nothing to see here, move along. It's a big, funny, joke.
skk wrote:
[citation needed]
edit: oh, I found it. that's a shame
aClem, " Fess Parker wine?"
When I was a Kid Fess Parker played Davy Crocket in a Disney Series. Sorry, it was a big think to me.
Had a Coon skin cap.
Davy Crocket- Danel Boon, I got mixed up.
lets see, gold, silver, oil, dollar, dow,s&p and nas futures all down. Hmm, I suppose I just won't turn the screens on tomorrow.
sm_landlord wrote:
I hate to say it but the 27 needs to run from PCH to the Grapevine as a freeway. Won't happen but then you have to understand the existing system is ~60% completed of what was planned to serve roughly 2/3rds the current population.
RE wrote:
Have I mentioned recently how glad I am that I am a renter? I could easily have wiped out by buying up.
Bad Dawg Bobby wrote:
Me too.
Special Late Night Edition:
ECB suspends rating limits on Greek debt | News | Business Spectator
The move also ensures Greek banks will continue to have access to liquidity even if they cannot access funds in wholesale markets. Greek banks hold about 40 billion euros in government bonds, and analysts estimate most of this is Greek.
"They want to make sure that the question of Greek banks have access to liquidity will not be an issue in this crisis. It's one less thing to worry about," Goldman Sachs economist Dirk Schumacher said.
Leftys Liquors Lubricants... wrote:
$16.95 at the winery. My sister bought one because her students in Australia have no clue.
RevolutionWillNotBeTelevised wrote:
Indeed. I learnt it about 20 years ago. I always note it more in sadness than anything else.
So it goes. One lives and learns.
RE wrote:
Luvs me those quintiles!
[Why does HCN tell me I don't know how to spell "quintiles?"]
sm_landlord wrote:
Ya you should have bought a farm.
Doc Holiday wrote:
Rob Dawg wrote:
Mine was $1.98 at Woolworth.
Rob Dawg wrote:
You mean Topanga Canyon Road? Ha!
The original plans called for a highway across the top of the mountains going east-west, as I recall. NFW that would be allowed, Moonbeam's puppet Adriana Gianturco killed that.
California Clusterfuck.
Leftys Liquors Lubricants... wrote:
And a musket cap gun.
sm_landlord wrote:
It wasn't quite as bad for me but I'm glad I sold first in 1998, then 2001 and then 2007 always going less expensive by 60% or more. After the sale in 2007 I rented until late last year and now I'm sitting quite pretty.
Doc Holiday wrote:
Soon, all Euro debt will be declared good by the ECB even though a lot of it will default.
Maybe the end is indeed nigh.
dryfly wrote:
Silly me. Oh, well, you can't win 'em all.
sm_landlord wrote:
Sounds like an excuse to stay home and
...
picosec wrote:
I think it's Firefox and not HCN, right?
dryfly wrote:
rich kid eh?
not HCN but your browser tool.
dryfly wrote:
I'll be holed up at my place in Venco. If the Internet stays up, I can still work.
skk, Could have been Margaret, Time take it's toll.
" Did you know that Eric Clapton is on record as quite a racist shit ?"
No I didn't know that, He spoke so Highly of Jimmy Hendrix. That surprises me.
sm_landlord wrote:
You still have time - I see 'for sale' signs about. Hurry or you might be priced out forever.
Another robosigning breakout:
Encore Capital Group Response to Texas Attorney General Complaint - Yahoo! Finance
RE wrote:
Actually, Chrome; but that's probably the case.
Leftys Liquors Lubricants... wrote:
RE wrote:
Good for you, really. I have trouble moving fast enough to get out of the way of oncoming trains. I guess I just try to do too much. For example, I rode out the Great Recession in stocks, fortunately having the presence of mind to buy more at the bottom.
I did not have the cojones to go for any investment properties, though.
Doc Holiday wrote:
The date on the story is May 3, 2010.
Am I pulling up the right story?
Speaking of Davy Crockett... My parents got a laugh when I sang 'kilt in a bar, when he was only three'
Also, Davy died at the Alamo so Texas could join the Union as a slave state, I believe. Not quite the hero but then Disney rewrites history with great aplomb, always has.
"EU to consider Greek Default" sounds like it's EU that will decide whether Greece defaults or not, and not Greece itself. Isn't this supposed to be Greece's decision? Sovereign nation, and all...
Fed on Hold Longest Since 1940s - Bloomberg
Because free money for banker scum obviously creates jobs, jobs, jobs.
gruntled wrote:
I think they gave up that status awhile ago, in reality.
nytol
1 currency now -yogi wrote:
Yes, I'm sure there's some serious job creation going on there. Nannies, drivers, valets, cooks, cleaners, groomers... for bankers and their brats.
aClem wrote:
More complex than that - as any Texan will tell you - they first became the REPUBLIC OF TEXAS - and yes slavery was legal. Only later did they join the union as a slave state... a huge mistake some would say. Hell slavery might still be legal there [officially] if they didn't make that last blunder. Perry was trying to fix that I do believe.
Hoo cooda freakin node?
When radioactive fallout from Japan’s nuclear disaster began appearing in the United States this spring, the Obama Administration’s open-data policy obligated the government to inform the public
"Covering the story, I watched the government pursue what appeared to be two strategies to minimize public alarm:
It framed the data with reassurances like this oft-repeated sentence from the EPA: “The level detected is far below a level of public health concern.” The question, of course, is whose concern.
The EPA seemed to be timing its data releases to avoid media coverage. It released its most alarming data set late on a Friday-data that showed radioactive fallout in the drinking water of more than a dozen U.S. cities.
Friday and Saturday data releases were most frequent when radiation levels were highest. And despite the ravages newspapers have suffered from internet competition, newspaper editors still have not learned to assign reporters to watch the government on weekends."
Its late, and I've scared myself into another nightmare tonight. Anyone be on at 3AM?
Yup, and the terms of admission allows them to split into 5 separate states.
Just think how screwed up things would be if there were 10 Senators from Texas taking up space in the Senate.
Leftys Liquors Lubricants... wrote:
Not me. Line up a Teddy Bear.
NB: I'll be up at 6AM, trying to figure how to get out of money market funds, and into something a bit safer.
Apply irony here.
Leftys Liquors Lubricants... wrote:
Sometimes I am up at that time, if I can't sleep for a myriad of reasons. Normally, I don't get up until 5:00.
Greetings from down under, doomers! Plenty of bagholders, megadebt, and massively overpriced housing here. Ponies and bagholders galore! ("Logging in" from the library, how lame is that?)
It burns!
scone wrote:
Scone on the road?
Bad Dawg Bobby wrote:
meToo. I'm usually tapped in ( well doh ) but I was outta the country around this time - a little kerfuffle in India called the Emergency - so I missed it and then the shit had really hit the fan - so his rant kinda never registered with the me ( or COVER UP ? who knows ) I suppose - I only learnt it in the early '90s. Here's a link :
warning: bad language alert. Play the tape to get the full impact.
Dangerous Minds | Eric Clapton’s DIsgusting Racist Tirade
"Any wogs in here tonight - I want you to go !"
He means ME ! So FUCK HIM !
Like I said, this had gotten ( to use the US term) so hmm potentially dicey a coupla years later ( or maybe I was more interested in having yet another bash at pro cricket
that he was the least of MY worries so that's perhaps why it never registered ( or cover up ).
NorkaWest wrote:
Well, at least burying those Texas Senators would be green.
Just give them enemas. and bury them in shoe boxes.
sm_landlord wrote:
I'll put on my Davy Crockett Coutoure.
Coal-burning power plants kill more people through their CO2, SO2, NOx, etc. emissions than Fukushima ever will. The estimated number for China alone is 300-400K additional deaths per year due to pollution generated by those power plants.
Just putting things in perspective a little bit...
sm_landlord wrote:
In 5 years, the number of drivers in LA is going to diminish (coming from someone who was born there).
This is a dinosaur mating image, building more roads in LA. You just don't quite see it yet.
sm_landlord wrote:
The Fed will spew tens of trillions before a single MM significantly breaks the buck. You own PM stocks - sleep in.
adornosghost wrote:
Perhaps. I'm not going to be there to watch. And you aren't either, apparently.
scone wrote:
You need to join the 12-step HCN withdrawal program.
It's easy to quit. I've done it hundreds of times.
greenchutes wrote:
I hope you are right, because as I said above - I have trouble getting out of the way of oncoming trains.
sm_landlord wrote:
You and I just need to worry about the 2 million of so who think when the time comes they can take PCH to the promised land.
sm_landlord wrote:
Yep, visiting the in-laws. It's like 2006 here, housing wise. They are still building like mad, because real estate never goes down, it's a sure investment, ya know.
scone wrote:
And every mortgage is adjustable. Eh, what could happen?
picosec wrote:
There's a little count down timer at the top of the screen. It says I only have 11 minutes remaining! oh noes!
Rob Dawg wrote:
You did finish setting the mines at Mugu Rock, right?
Rob Dawg wrote:
They are totally, totally in denial. It's all very sad. I'd say they're roughly 50% overpriced. Wait for the crash, and buy for cash.
sm_landlord wrote:
Sea lions with friggin' lasers just in case they try the beach too.
No problem.
In ten minutes, logoff and move to the next machine.
RD, "You and I just need to worry about the 2 million of so who think when the time comes they can take PCH to the promised land. "
Damn, If there is an Earthquake, I was hopeing that would be my secret way out.
NorkaWest wrote:
It's weird, you have to get a temporary library card, and get a password for each session from the librarian, who scrutinizes you like you're a perv. There are no restrooms here either. I guess it discourages the "involuntary leisure" set.
Rob Dawg wrote:
I'll check with R&D for a progress report on arming the pelicans.
Edit: Target discrimination is key. They can't seem to tell the difference between economic migrants and military convoys.
Of course, no one else can either. Internal migrants are difficult to distinguish.
NorkaWest wrote:
Indeed that whole Texan stuff is amazing no ? I have a story to tell about Tx ( no not the San Angelo one ) the peanut one. if yall ask nicely I'll tell. oh ok twist my arm..
So I went down to the NM/Tx border ( 1000 miles from CO but closer than GA etc ) to get GREEN peanuts ... so we cdn't find a farm and of course I went to the processing plant - and asked the lady ( who I'd been phoning to see if they were ready yet ) - she gets on the PA system and announces - "hey XXX, man looking for green peanuts heah".. no response - she gets on the PA system AGAIN - "Jim.. man looking for green peanuts here".
Jim arrives - a little annoyed I suppose - we discuss I tell him about eating them at 6 years of age in india straight from the ground and in GA N years later and M years later I'm still hankering for them so he asks - how many do you want ?
BIg man me, I say a bushel of two..
The man says - well I'm in the line here to unload 128,000 tons (TONS). could take a few hours.. why don't you call this guy who's back at the farm and he'll help you out..
My wife of course is squirming with embarassment, but we call, the man answers and we agree to meet at a gas station about 120 miles away next day. We arrive wait and he pulls up - tells us to leave the car there and he'll drive us to the field.
OkeyDokey.. and while driving he asks: "what do you think of George Bush" ( who was president then).
FUCK FUCK FUCK.. what do I say ? well I was taught well ( thank you Mars ) - and I say - interesting man, fascinating war hero of a dad. and he says..
"I HATE HIM".
We got on like a house on fire after that ! - learnt a lot about that area of Tx.
Ain't Americans beautiful ? truly they are.
O the peanuts. We get to the field - there's what called the spillover - he says TAKE as many as you want. I STILL have many left in the basement.
sm_landlord wrote:
20 acres in Valley of the Moon. This ranch thing is a lot of work though. The horse person is at Block Island, so I have 4 horses and 2 llamas to feed and water, and keep everything irrigated.
To much to be pushing through life in your 60s.
Should of planted grapes like all the rest of the boutique wine people.
Bad Dawg Bobby wrote:
You need sailing skills to get out of LA when it comes down.
You will be roasted on a pit by starving punks if you don't.
Were you down by the Rio Grand valley?
That is a democrat stronghold.
Dead voters there made LBJ Senator for the first time.
Edit: south Texas make Cook County voting seem honest.
AG - there's something I need to ask you...
¿Cómo se llama su llama?
Remember me calling California business hostile? Check out these plans:
California labor groups moving to control tax debate - San Jose Mercury News
Other ideas floated by various groups include increasing corporate taxes, closing loopholes on corporations, or going after various industries such as oil and tobacco companies.
Brown said last month that labor might pursue a fix to 1978's property-tax capping Proposition 13 to increase property taxes on businesses, otherwise known as a split roll tax. But labor groups appear to agree that the earliest they'd pursue that is 2014.
One potential ballot measure would impose a severance tax on oil companies, with revenues used exclusively for higher education. But that is unlikely to gain financial backing of the large labor groups not eager to provoke an arms race with oil companies willing to spend as much as $100 million in a campaign.
It is a long convoluted story they begins in Montana in the 1970s--
adornosghost wrote:
Dunno. I know a guy with 5 acres of grapes, barely making it, making more on the tourist trade with his shack for rent.
It's not easy.
Why try to close California tax loopholes?
If corporations and labor unions want to participate in our elections via campaign contributions, just declare tax nexis and make them file 540 on their worldwide GAAP income.
sm_landlord wrote:
Fred Franzia and Two Buck Chuck : The New Yorker
Awesome article - probably the best on CA business from one of the older east coast rags in the past few years.
adornosghost, " You need sailing skills to get out of LA when it comes down."
Yup, way ahead of you on that one.
"You will be roasted on a pit by starving punks if you don't."
They had better be Bullet proof when they come knocken, Sandi might be yummy but I'm afraid i'd be to stringy.
beside, who is to say we would survive the quake.
sm_landlord wrote:
No way would I attempt to make a living at it, but at least you just pretend. This was a former Thoroughbred Ranch of some friends of mine, and I am still dealing with the declining racing scene, and polo ponies.
Rob Dawg wrote:
Split roll means killing landlords. Oh, yippee.
If it weren't for rent control, it might make sense. But...
Oh, well,
I definitely approve of horses as the animal to exploit - truly, deeply stupid creatures. Brains of flies in the bodies of gods.
Morton Tx ( right by the border with NM ) looks right
texas map - Google Maps
I know or think I know cos we talked about flying as we past the local airport..
He talked quite a bit about Menonites ( pretty sure its menonites ) who just cross the border with mexico ( real mexico not New ) - and don't give a damn about the immigration laws - neither do the cops.
And at harvest season cops don't give a damn about 14 year olds driving 128K ton trucks either. Hey people have got to get the crop to market.
Sheesh I hope I'm not dropping anybody into trouble by saying that - but I expect this is pretty common right ?
sm_landlord wrote:
Does it necessarily?
It could mean the big refinery in El Segundo, IBM in almaden, HP in PA, etc etc etc, but nothing residential.
Rob Dawg wrote:
So thinking about things - you did say floating ideas right - is HOSTILE ? Ok then I call that view - UNAmerican.
OT: Anyone seen this article: Among Oregon's uninsured, an inadvertent experiment measures the impact of health coverage | OregonLive.com
adornosghost wrote:
Then you would have had to invested in a screw cap machine too.
yagij wrote:
Because the answer isn't obvious?
I can see the point going forward though, as it will be good to have actual data when the discussion comes up at the national level, for those who try to obfuscate the reality of what it is like to not have insurance.
Pretty cool. I wiped my iPhone and then upgraded to OS. 4.3.3. Jailbreaking now can now be done via a website that exploits a whole in their PDF viewer. Took me roughly 10 seconds.
poic wrote:
Yayyy !
OK Poll time.. how do I do that ? How many people know that their DVD player has region code restrictions ?
How many know that this can be bypassed on many ( most?) DVD players by typing in a set of keys on the remote ?
How many know which set of lulz ( that's the right term ? ) set the ball rolling on that - 12 years ago with the Apex brand of DVD players.
I know I know.. dude - DVD players ? its Blue Ray - getwithit.
One of the great moments in women's soccer history.
Abby Wambach Goal Video: Watch USA's Thrilling Goal in Extra Time | Bleacher Report
A cooler goal than anything in the lackluster copa america so far that I've seen.
greenchutes wrote:
I agree though I haven't watched all the copa games.
RE wrote:
Accompanied by the most nauseating commentary by the TV narrators that I can recall.
I'll
. Aside from the offside call that wasn't made on Marta's goal in overtime, the officials got everything right.
picosec wrote:
You obviously don't watch chicago white sox broadcasts. Or the jokey chuckles last week in texas by the a's broadcast team when a father fell to his death in front of his young kid.
greenchutes wrote:
Different league. - BTW I often watch A's games but missed that one, fortunately.
YouTube - XTC - Earn Enough For Us- Skylarking Vinyl Remaster 2010-
picosec wrote:
Condolences - Wolff is even worse than Al Davis.
I still use corks on my meads and high octane ciders, if only becuase I'm stuck in my ways.
I guess this is the new normal, and future.
*Hot growth investment strategy: Poor people
Analysts recommend putting your money into payday loan, pawn shop stocks
It's not that they think the recovery will turn brisk and people will get jobs and shop elsewhere. It's that things could get worse — making customers too poor to borrow or buy even from these outfits. Rent-A-Center, the furniture store, is already suffering. Some of its core low-income shoppers have seen money they would have spent leasing a couch or cocktail table eaten up by rising food and fuel bills.
*
Hot growth investment strategy: Poor people - Business - Stocks & economy - msnbc.com
josap wrote:
Ouch. What is old is new again. It made my grandfather wealthy, but he also had to show up at people's houses packing to ensure anything nasty could be easily handled on the spot.
yagij wrote:
I've seen more rental centers open here. They went away during the good times.
Easy to see what direction the economy is headed if you just look around.
josap wrote:
Tease?
.
Although I disagree with the article's premise that you should be buying these kinds of stocks when they are at 3-5 year highs, the actual business is profitable, but it is a hard way to make a living much less a fortune. All about timing and locale usually.
yagij wrote:
With items on Craig's List so cheap, I always wonder why anyone would rent. You can even find free stuff.
yagij wrote:
If you notice who is shopping at the Dollar Store vs Krogers, or how many new cars you see on the way to work, or are people at the Mall buying and not just talking a walk in the air conditioning. Stuff like that. People change buying patterns.
Buillding permits for infill tell alot about where RE is going. Once they buy tiny infill here, the top of the market has been reached. Or they buy in really bad areas and build nice units, thinking the area is changing.
FWIW, the local news here in Luxembourg does not even mention Greece. Suddenly everybody is aware of Italy, and talking about Italy's problems. This supports my theory that Greece has long been a proxy war, and the real issues have been kept off the table for as long as possible.
josap wrote:
I'm in a mostly crappy CL area. There is some stuff listed, but nothing that makes it reliable/desirable enough to be the first place I check for stuff. Now if I was near/in a "real" city, I probably would always use CL first and other things second.
Xenos wrote:
Could be. I think Greece is the experiment. If they can find a solution to Greece, they can apply the same fix to the other countries. Or Italy may be a diversion while the details of the Greek default are worked out. No real way for me to know.
yagij wrote:
In bubble central Phx, CL is great.
People are selling anything they don't use, or can't take when they move, or nice stuff when they can't pay the bills.
A few years ago you could buy stuff from people stripping thier house before the forclosure date - it was insane what people were doing.
The November 2009 ConjureCast held up pretty well.
http://www.hoocoodanode.org/sites/default/files/user_contrib/Conjure2.pdf
mp wrote:
Yes it did.
Had to read it as I wasn't here in 2009
The October 2008 ConjureCast concerning likely manipulation of LIBOR also held up well.
http://www.hoocoodanode.org/sites/default/files/user_contrib/Conjure1.pdf
In the news now:
http://www.risk.net/risk-magazine/feature/2081957/libor-fix
mp wrote:
How often do the ConjureCasts appear?
josap wrote:
When he's in the mood.
I hope he gets in the mood more often.
Thanks mp
josap wrote:
You're welcome.
EU to consider Greek default. How nice of them.
Watching it all unfold like we talked about in 2008 2009 I see the revolutions and a dawning awareness of the true nature of global subjugation. Egypt is striking for being a leaderless revolution reminiscent of the leaderless critical mass bike rides where cyclists move as a flock, disregarding laws.
Egyptian protesters marched through neighborhoods and turned their backs on phalanxes of riot cops waiting to shoot and gas them. The phalanxes were not mobile and without a leader there was no one to shoot. So they shut off the internet and more people got pissed.
When masses disregard rulers, rulers have nothing. They can only inflict wounds that incite further outrage. The power of denial is a power usually taken by a government. When taken by the masses it can be the ultimate non violent social tool for change. Leaderless cognizance and revolutions of spontaneous intelligence evident in crowdsourced passive disregard are monumental achievements that are wholly conditional on free speech and open communication.
CA may be business hostile but it still has a whole lot of Fortune 500 companies. Subtract Big Oil and there's not much left in business friendly Texas by comparison, which makes sense, its a hellhole here for 3 months of the year. Also Texas has an 8% unemployment rate despite a large number of low-wage workers, so one would hope this is not America's new standard of success.
Gruntled wrote;
"Coal-burning power plants kill more people through their CO2, SO2, NOx, etc. emissions than Fukushima ever will. The estimated number for China alone is 300-400K additional deaths per year due to pollution generated by those power plants.Coal-burning power plants kill more people through their CO2, SO2, NOx, etc. emissions than Fukushima ever will. The estimated number for China alone is 300-400K additional deaths per year due to pollution generated by those power plants."
The LanzaTech Process | LanzaTech
Our future: Poor and chaste.
Good Morning everyone
things that make me go hummmm.....This is good for the Euro, right?
Slow China Growth Leaves Wen Few Options - Bloomberg
.....
Edit to add: Maybe Whitney meant to include China in her forecast?
on Topic..
:inhaler:
I need C and SIG this morning.
Someone take out the red phone and call them.
Italian, Spanish, Portuguese Bonds Slump - Bloomberg
.....
.....
.....
It was already a default, the bigger question is where the
did all the money go?
Greece
Ireland
Portugal
Spain
US?
Futures
Egypt protests: Speedier trials, reforms demanded in protests across Egypt - latimes.com
shill wrote:
You need to ask? Who funds and gets nice juicy fees, with the information about the structural integrity of debt issues they themselves likely played a role in structuring, etc.,; who bets on the other side while performing such 'vital and important' services to sovereigns? SubPrime isn't just about mortgages anymore.
Hummmm...I wonder who has the reach to do this sort of thing? I can't imagine.
hummm....
AIG may replace banks in next share offer - Yahoo! News
Morning NN, oh I know where it went. And the best part they were very transparent about it, right out in the open. I hope the Greeks burn the joint to the ground, yup I do.
As Government Aid Fades, So May the Recovery - NY Times
Where is everyone, praying, partying or hungover?
Hopefully shoring up their estates, stocking their shelves, putting the finishing touches on their coops, and digging fresh water sources...
shill wrote:
So when do US citizens join the UK, Spain, Greece, etc.?
Failure and insolvency never paid so well:
Risk Officer Rises to Banks’ $10 Million Post After Derivatives Meltdown - Bloomberg
.......
He earned it NN, you know worked for it.
I guess I should enjoy it quickly, we all know we're going
by the close.
shill wrote:
Thompson and many other corporate executives should be thankful that there is no free market in executive selection and retention,or they would be gone by now.
Eric wrote:
YouTube - Kermit sings "Damn it feels good to be a gangsta"
Warning
language!
Nanoo-Nanoo wrote:
Ok, now that's fucking funny
EU gives temporary approval on Bank of Ireland aid - MarketWatch
.....
Good morning
erati. Have no fear I'm sure we will be 
by days end as I have a small SKF position. Oh well.
I took the day off to watch my kids in a lifeguarding contest. 9:30 to 4pm on what will be one of the hotter days this year so far. At least I can cool off in the ocean but still - 6.5 hours at the beach is a bit much.
They can pick 2 of 6 events - naturally the one's they want are the first and last one's of the day
Nanoo-Nanoo wrote:
13k or 14k?
Eric wrote:
Someone needs to send in the first teamers. Yurp seems to be pricing in Reality™
Why Real Estate May Be The Buying Opportunity of the Decade | Moneyland | TIME.com
Rickkk wrote:
'nuff said. Before there was FTFD, there was FTFT.
from 1990 to 2001 in Florida non suicidal poisoning death rate increased 325%. " Pill mills" and growing prescription drug abuse continue to grow.
Drug Overdose Deaths --- Florida, 2003--2009
Nanoo-Nanoo wrote:
Oblig.: Animals Being Dicks
.......China building one of our bridges. What an embarrassment. A perfect example of our growing international ineptitude. Even the online dictionaries have the same "do or tell nothing of worth" disease: ineptitude ( ) n. The quality of being inept; ineptness. An inept act or remark.
There shouldn't be prescriptions at all...
Chris
Navy to Cut Jobs Amid Recession-Driven Sailor Surplus - FoxNews.com
The Navy plans to let go of 3,000 young sailors after economic uncertainty put the service in the unusual position of having a manpower surplus.
Credit-Ratings Firms May Have to Show EU Data - Bloomberg
Pakistan: U.S. pulls $800 million in aid to Pakistan - latimes.com