AAR: Rail Traffic "mixed" in June, Intermodal at Record Level
Submitted by
CalculatedRisk on Fri, 07/06/2012 - 1:36pm (403 comments)
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I hate waiting on the train...
YouTube - Blackfoot - Train, Train
Since I pushed so hard to get that quiet zone enacted nearby, I can't tell how many trains go by on the CN line anymore.
Oh well.
What, now I have to RTFA
How much is LNG?
No comment on the ECB rate cut, CR?
Chew chew?
HG check the last thred!
@Paradigm Lost
Thanks for that video link.
It confirms some things for me.
Those guys likely became overwhelmed by all of the blinking lights in an otherwise eminently recoverable situation.
BarleyReturns wrote:
Ha!
You're drunk!
YouTube - The Clash-Train in Vain
Probably already hatted, but I've been looking forward to this one.
LIBOR Banking Scandal Deepens; Barclays Releases Damning Email, Implicates British Government | Matt Taibbi | Rolling Stone
Heard it, Ness.
To Maria:
YouTube - The Cult - Fire Woman (HQ)
This one goes out to Matt Taibbi:
YouTube - BARBRA STREISAND- MY MAN
CR wrote:
"Traffic mixed"
"The only thing that makes life possible is permanent, intolerable uncertainty; not knowing what comes next."
Ursula K. LeGuin
CSX's new Winter Haven intermodal yards - and the newly-built access lanes to interstate - are looking very smart. They bid the project in 2006-07. And built it, what's more.
YouTube - Ozzy Osbourne - Crazy Train
I can't believe that old geezer is still going.
He's travelled far; blazing a path.
YouTube - BLACK SABBATH-FARIES WEAR BOOTS 1970
YouTube - Nights in White Satin
"Red is gray and yellow white, But we decide which is right."
Live concert with Mario Frangoulis/Justin Hayward
YouTube - Jimi Hendrix "Hear my train a comin" LIVE 1970 Atlanta(audio only)
A-cero | Estudio de arquitectura y urbanismo
US helicopter strike blasts Afghan man as the pilot sings 'Bye, bye Miss American Pie' | Mail Online
mentioned it briefly yesterday - but it was exactly what we expected.
Gotta bit of a buzz but here it goes...Homie, believe it or not Food Lion had an awesome sale on St Louis babybacks....grilled em on the 4th. heaven.
Blackhalo wrote:
Depends on the neighborhood...
YouTube - Black Sabbath / War Pigs / 1974 California Jam
Send these guys some $$$
They're doing good work
Columbia | Team River Runner
You're drunk!
Nope. Had a great week w/ old classmates and a fab time in Toronto. Rested, relaxed and happy. That said, I'll be reaching for a beer soon as the ribs will be done in an hour. Dam tomatoes grew a foot since I was gone - tomorrow's am project.
This one goes out to all the banksters:
YouTube - Judy Garland - The Man That Got Away (Outtake 2)
The knees of every musician in the room must have turned to jelly that amazing day.
Bruce in Tennessee wrote:
This trend has got to have an affect on how we pay for health care.
aleister perdurabo wrote:
We've always been at war with Eastasia
BarleyReturns wrote:
A good way to be.
3.1 Million Workers Join Disability Ranks Vs. 2.6 Million That Got Jobs In Obama Recovery - Investors.com
INVESTOR'S BUSINESS DAILY
"The disability ranks have outpaced job growth throughout President Obama's recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits.
In other words, the number of new disability enrollees has climbed 19% faster than the number of jobs created during the sluggish recovery. (Even after accounting for people who left the disability program because they died or aged into retirement, disability ranks have climbed more than 1.1 million in the past three years.)
And the disability ranks will continue to swell. In just the last month, almost 275,000 put in applications for disability benefits. Experts say that more people try to get on disability when jobs are scarce, and changes to eligibility rules enacted back in 1984 have made it far easier to qualify."
...
yuan wrote:
But the future is bright for cyanobacteria!
Global warming favors proliferation of toxic cyanobacteria
If you watch the Judy Garland number, she's singing live. The musicians are faking it - she's singing to a recording.
Bruce in Tennessee wrote:
Maybe CR can add a line to his employment charts for that statistic.
FTR Somebody posted last pig that BBY was going to cut 1,800 jobs? Reports here say more like 2,400...
Best Buy cutting 2,400 jobs, including 650 at Geek Squad - Minneapolis / St. Paul Business Journal
Feckless Ness wrote:
Well, she's syncing live.
vs.
Last night I created a FRED chart showing Fed interventions.
Here's the same data again, modified from YOY to absolute:
FRED Graph - FRED - St. Louis Fed
blue is MBS purchases and red is QE via net treasury buys
(I removed the 4Q09 loan spike since it is not important in QE terms)
Adding DC's deficit spending in green:
FRED Graph - FRED - St. Louis Fed
completes the stimulus picture (except for the 2% FICA cut which isn't hitting debt held by the public, but that has "only" been $200B or so)
From this at least, the Fed hasn't done much since 1H11, other than "Twist" which has allegedly helped push yields down:
30-Year Conventional Mortgage Rate (MORTG) - FRED - St. Louis Fed
If you think mass inflation is coming this decade, building now would be good timing.
Demographically, we're certainly going to need new housing stock. The median baby boom echoer is turning 22 now and the boomers are all still around too.
But the ugly truth as I see it is that green line in my 2nd graph. This economy is being supported by the $1.5T/yr of redistribution-with-strings that is deficit spending:
15,876,652,312,551.29 -- today's national debt
14,343,033,186,678.55 -- 7/5/2011
I don't see us ever bringing this down, and the higher the national debt goes, the lower yields have to go.
$16T at 4% interest cost would be $640B/yr, we'd need to reverse the Bush tax cuts just to pay that alone.
On top of that we've got medicare, PPACA subsidies (maybe), DOD program increases (the beast must be fed), and SSA going cash-negative for good.
This is all going to end very badly!
Bruce in Tennessee wrote:
Cops and firefighters often have mysterious flare-ups of on-the-job injuries as they get close to retirement. 'Bama going to pay my disability pension.
Belarus Military Parade Domino Dance is Awesome (Video)
Intermodal is a good thing....
sm_landlord wrote:
Watch more closely and listen to the sound quality. She's doing a live take. The musicians are finger-synching.
Comrade Troyski wrote:
Swimming against the tide:
Gawker
In Texas!
Feckless Ness wrote:
She may be singing, but the recording you hear is not that performance. I can hear that the performance was close-miked, and there is no close mike in the picture.
Somebody is going to do it and do it well. The ones that do will revolutionize the industry worldwide.
I makes my head hurt it hasn't already been done. Maybe that is the 'next big thing' - Schumpeteresque thoughts.
Wrong and wrong, Taibbi! You should know better!
1) Libor is not "generally an indicator" of anything, it is a mechanism for manipulation of derivatives. Are you as dumb as a central bank, Taibbi?
2) "If the banks manipulated Libor..." This is no longer in question.
3) "... they did it to make themselves look healthier." Wrong! That's what Bob Diamond wants you to think! First of all, from the emails we can see that the traders clearly had plays on both sides of Libor. But the Big Play, the one that has the governments actually pursuing this, is the banks reporting elevated Libor quotes in response to Lehman, and then realizing that the Central Banks were watching Libor closely, and putting 2+2 together, and manipulating Libor to extort the central banks. Sure they may have ripped off a few student loan holders in the process, but that's not why the regulators are going to tear them a new one on this, and may [1% chance] actually prosecute someone. A bit ironic that this one might be the one to land someone in jail , given that of course there was explicitly no rule broken-- the Libor process was informal and utterly devoid of even notional regulatory oversight.
"This is all going to end very badly!"
Thanks for helping me ride the curl.
SURFOLOGY
What's interesting is, it's close-miked on the same set. Not so, the instrumentals.
Bruce in Tennessee wrote:
See page 4 of this.
SS Disability claims in 2009 and 2010 were nearly 50% greater than those in 2007.
Even so, still only 7 per 1000 insured workers so not a huge number.
Feckless Ness wrote:
Too creepy for me. I guess I just don't get it.
I don't see us ever bringing this down, and the higher the national debt goes, the lower yields have to go.
$16T at 4% interest cost would be $640B/yr, we'd need to reverse the Bush tax cuts just to pay that alone.
On top of that we've got medicare, PPACA subsidies (maybe), DOD program increases (the beast must be fed), and SSA going cash-negative for good.
This is all going to end very badly!
What in the hell kind of leftist thinking is this? Son, you sound like a fiscal conservative.
Bruce in Tennessee wrote:
Son, you can't even come up with a budget.
As they told Cool Hand Luke:
Son, you gotta get your mind right...
The cast of devils is being assembled.
I keep seeing in my mind's eye the face of the Russian FM, Lavrov, who is or has been a chain smoker and looks it.
Supposedly, in a phone conversation with the Sec. of State, he described Saakashvili as a "....... lunatic." I wonder what he's saying now.
Events in the ME are likely overtake us. If so, it will affect everything.
Geeee gubbmint and banks in collusion - HCN.
London Interbank Offered Rate - Wikipedia, the free encyclopedia
Intermodal volume in June 2012 totaled 996,022 containers and trailers, up 49,168 units or 5.2 percent compared with June 2011.
tsunami related?
how many vehicles shipped june 2011?
HomeGnome wrote:
Keep your short replies to yourself..
Comrade Troyski wrote:
So does that mean that if the target of 3.5% growth was achieved, it would be unaffordable?
dryfly wrote:
Techno Triumphalism Syndrome?
dryfly wrote:
Especially if the majority of containers are empty..
Bruce in Tennessee wrote:
BIGOT!
sm_landlord wrote:
Damn - you're right! She did a good job.
Shorty....
Feckless Ness wrote:
No question, she was good.
Bruce in Tennessee wrote:
Bruce, That was established/decided years ago. But it never hurts to remind us.
Feckless Ness wrote:
When it comes to recording, I would not question sm_landlord.
Just sayin! We have friends from the past.
Sticks and stones may break my bones,
But words won't make you taller.
I'm feeling upbeat about everything!
Humph, intermodal was a reflection of sky high oil prices. They will lose some off the top after prices fall a bit more. Commodities sucked, which is far more reflective of final demand issues.
So, in short, a report that shows a slowing recovery, with switching away from OTR to intermodal based on oil prices- which is, gee, no surprise substitution.
Sounds stunning to me. Ah well, stuff to do.
Someday this war's gonna end...
$16T at 4% interest cost would be $640B/yr
you need to focus on publicly held debt ... around $10 trillion to $11 trillion ... the remainder is govt accounts (SS fund among) where left pocket handing money to right pocket.
dryfly wrote:
The thing is, dry, unless someone with your sensibilities and CV doesn't get cracking, we'll be importing houses. In the case of 'dwelle', we are already.
Forecast for Sunday, DC area:
STORMS SHOULD BECOME LINEAR WITH TIME...GIVEN
THE WLY STEERING FLOW IN THE 20-30KT RANGE AND A ZONALLY-ORIENTED
FRONTAL BOUNDARY. DAMAGING WINDS AND LARGE HAIL THE MAIN THREATS
FROM THIS ACTIVITY.
ANOTHER HOT/HUMID DAY TO START...ESPECIALLY WITH LITTLE CLOUD COVER
AND THE FRONT STILL OFF TO THE NORTH FOR THE FIRST HALF OF THE DAY.
HIGHS WILL AGAIN APPROACH 100 ACROSS MUCH OF THE AREA. OVERNIGHT
LOWS WILL BE COOLER THAN IN PAST DAYS...ESPECIALLY AFTER A ROUND OF
TSTMS.
"Those guys likely became overwhelmed by all of the blinking lights in an otherwise eminently recoverable situation. "
mp: It's not like they had a lot of time to think about what was happening with all the bells, whistles and blinking lights going off one after the other. Seasoned pilots with real-time experiences...well, training, experience and instinct takes over when the instruments/computers fail.
FD: Pilots in the family. We watch/read/follow all the crashes and subsequent investigations.
I'm feeling upbeat about everything!
including CEO survey? ..................
No kidding. Toyota.
And stand up when you type! You spelled "genius" as "bigot"!
...sheesh..
Now that debt is bigger than GDP . . .. yup!
But the economy is more complex than any one number. I think to understand it, you have to model & simulate it pretty intricately, and even then there's probably chaos-theory issues lurking to screw up your models.
eg, Interest costs don't disappear into a black hole, they go to those who gave Leviathan the money.
I guess this is why the Japanese economy is functional even with their insane debt-to-GDP.
I just think debt issuance is dumb. Just tax people already.
tacticaldefault wrote:
Even worse, and more insidious, the banks reporting their rates, were not under any obligation to lend at those rates. So it is completely devoid of any obligation (or regulation), and yet 500 TT of loans and loan derivatives, use it as their basis.
Paradigm Lost wrote:
Denny Fitch, God rest his soul, was a cousin of my wife's. You may have heard of him.
BR, you mentioned visiting Toronto. Did you go to school there and if so which school?
Comrade Troyski wrote:
How am I going to have anybody to argue with if you keep typing the same drivel I type? Leftists LIKE deficit spending!
Now write it 100 times on the board and we won't call your other buds...
Marlins or Cardinals?
Son, you gotta get your mind right... - Bruce in Tennessee
I feel fine
Comrade Troyski wrote:
Tax people 16/20 Trillion ?
It would destroy us if we only paid the 600+Billion in interest.
Bruce is right WASS.
What do you call a fiscal conservative who is socially liberal? Homeless?
Bruce in Tennessee wrote:
Not if I report you to the competent organs.
I just think debt issuance is dumb. Just tax people already.
Don't pee in the koolaid.
1.54
U.S. jobs report brings Fed's next move into focus - The Globe and Mail
Friday, Jul. 06 2012, 4:45 PM EDT
“Chilled by global economic and domestic fiscal concerns, American businesses are no longer creating jobs fast enough to reduce the unemployment rate, suggesting the Fed…could launch QE3 in coming months,” said Sal Guatieri, an economist at BMO Nesbitt Burns in Toronto."
Comrade Troyski wrote:
The beauty of Operation Twist is that the Fed is both driving up demand and driving down yield for the 30-year bond. There's a lot of can kicking that can happen when you have trillions of dollars financed @ 2.66% for 30 years. Bernanke is a genius.
Apple's patent absurdity exposed at last | John Naughton | Technology | The Observer
Can I PLEASE have Posner for the next Supreme Court nominee?
Gotta go, but I'll be back...
I would like a little harsher attacks in the future...this gloom and doom stuff about our deficit makes me think either I'm on the wrong blog site...Where is Kruggles when we need him??
The SS fund is ~$1.5T of excess FICA contributions from everyone, 1990-2009.
Plus another $1T of printed interest, and ~$250B of printed treasuries courtesy the 2011-2012 FICA cut.
the left-pocket/right-pocket framing is meant to obscure this basic fact of where the SSTF came from and to whom it morally belongs.
It does not belong to the top 5%, those who earn over well over the FICA cap. The top 5% actually owe that money, given the basic trajectory the Greenspan Commission and mid-1980s Congress put the tax system on.
Krasting has a very thought-provoking data-dump of what's going to happen to SSTF interest "income" in the age of ZIRP.
With the 10 year pushing 1.5% again it is important to look a bit down the road and smell the coffee monster coming to kick our fiscal ass.
Feckless: Great outtake. The stuff we never get to see or hear. Amazing. Saved that one.
Bruce in Tennessee wrote:
Like a rash
BarleyReturns wrote:
I'll be right over.
Chicago Dude wrote:
I would not go that far. But I would agree that he is not an idiot, like his predecessor, or any of the recent heads of the NY Fed.
black dog wrote:
Don't forget that all interest payments on debt held by the Fed just gets sent back to the Treasury at the end of the year. The Federal Reserve operates at a profit - and all Federal Reserve profits belong to Treasury.
I'm feeling upbeat about everything!
thank you
need to do a credit check?
How was your walk a bout?
I quit buying anything at Best Buy when they started the Geek Squad. They could never find or fix a problem and magically the warranty ran out.
Chicago Dude wrote:
On "money" Conjured outta thin air.
Blackhalo wrote:
Dilbert comic strip for 06/30/2012 from the official Dilbert comic strips archive.
"Where is Kruggles when we need him??"
July 6, 2012, 5:11 PM - The Krugmeister
"This is an old (2005) performance; Arcade Fire is more polished now, while losing none of its enthusiasm, but sometimes I prefer the rawer sound, with the individual instruments more distinct, that they used to have:"
Economics and Politics - Paul Krugman Blog - NYTimes.com
merchants of fear wrote:
Not really.
Can anyone see the trend?
CO2 Now | CO2 Home
and all Federal Reserve profits belong to Treasury.
yep
the main point - you only have to worry about keeping "publicly" held debtholders happy ... govt trust funds will always take "you'll get nothing ... and like it!".
HomeGnome wrote:
You still have to consider it when thinking about debt service on Treasury bonds.
Fiscal cliff uncertainty may cloud future jobs reports - Jul. 6, 2012
Cant... take... another... fiscal... cliff... reference...
Besides, housing is recovering and construction jobs are up.
no, the $1.5T/yr of deficit spending.
Corporate after-tax profits are that alone now.
Corporate Profits After Tax (CP) - FRED - St. Louis Fed
So get say $500B from that curve.
Get another $500B from
Personal Income (PI) - FRED - St. Louis Fed
And cut $500B from
Federal Government: Current Expenditures (FGEXPND) - FRED - St. Louis Fed
Not now, but by 2020.
In 2020 we're going to have the baby boom aged 56 to 74 so we're going to need to raise FICA and Medicare taxes, too.
Or we can just continue on our merry way over the falls.
I speak Japanese and a bit of Mandarin now, maybe I can escape the coming carnage.
Not that Japan is in any better fiscal shape, sigh.
Dynegy Files for Bankruptcy Protection - WSJ.com
"Dynegy, which produces and sells electricity to municipalities and other energy companies, has struggled under a mountain of debt amid declining power prices and stakeholder skirmishes. Ultimately, an independent examiner's scathing report forced the company's restructuring into a different direction."
Bernanke is a genius.
Chicago Dude wrote:
Enjoy your fantasy.
The show is about to end and the actors revealed.
CO2. Gluten. Whatever.
The show is about to end and the actors revealed.
Do you have a timepiece?
Rickkk wrote:
WTF! How? Why, I don't even...
"This trend has got to have an affect on how we pay for health care. "
Yes, we need portable insurance, portable pensions...for the present, we must be able to carry everything with us when we move for the job, the paycheck.
Regarding disability...experience from my own family. I have 2 cousins who were born with mental disabilities. One has managed to keep her job (16 years at the same place) with reduced pay. Another lost the job he had for 20 years...a lot of heavy lifting, manual labor. He drifted...gaining and losing 2 more jobs since the downturn. His back and knees were giving out on him after years of heavy labor. In the end, he couldn't find another job. He didn't want to, but finally he was forced to go on disability because no one would hire him. He was in his 50s. The other cousin...I'm wondering in this business climate, how long she'll keep her job. Both want to work, need to work...and get great pleasure in contributing. How many others out there can't measure up to the competition for low-paying jobs?
Bruce in Tennessee wrote:
So do
as in Medicare RX, defense, subsidies for MFN corporations(let's not forget they are people too). You are an idiot.. 
I'm late.
I'm late.
For a very important date.
What we need is a Fiscal Clock.
Money recycle - in their case right back to Mrs. Watanabe.
I am worried that the Pillsbury Dough Boy is full of gluten. I wonder how long he got to live?
burnside wrote:
Actually related, but probably not the subject anyone wants to explore.
Suburbia forever!
"what is your standard for genius here?"
"But the fact that some geniuses were laughed at does not imply that all who are laughed at are geniuses. They laughed at Columbus, they laughed at Fulton, they laughed at the Wright brothers. But they also laughed at Bozo the Clown."
Carl Sagan (1934 - 1996)
Omnibus Budget Reconciliation Act of 1993 - Wikipedia, the free encyclopedia
"Ultimately every Republican in Congress voted against the bill"
. . .
"The government was able to raise additional revenue, which helped balance the budget and by the end of the 1990s began to reduce privately held public debt."
Why because he's a classical Economics Kool-Aid drinker?
Sandals Somewhere—Perhaps a More Proper Sandals
I always return to Greek music and poetry when I look for something positive. This is a link to a song by two of the modern icons of Greek culture: Melina Mercouri, who as Minister of Culture advanced the idea of a European capitol of culture annually, and Yiannis Markopoulos. Part of a political concert filmed by the director Nikos Koundouros in 1974 ("Ta tragoudia tis fotias"), just after the end of the dictatorship.
YouTube - Mercouri, Markopoulos - To kafenion i Ellas (1974)
This is a pasted quote on the lyrics:
“In the Cafe named 'Greece', the clown sells his tricks so cheap. Chain him, tie him down, for just a cent (a penny). All these miraculous, entertaining stuff, with just two cents. Their clothes are borrowed, and you can buy their tears for an egg or two. (The lyrics mean that the country has been'for sale'.long time now... )”
OCEANQUEEN1 in reply to Ilkamy (Show the comment) 10 months ago
A more modern mix with an old voice Xylouris (unfortunately not among us) and contemporary images, including Marios Glezos being carried off unconscious after his protests against the current measures. He is a hero of the country, since he took down the swastika off the Acropolis and was imprisoned and tortured by both the Germans and the Greeks. http://www.youtube.com/watch?feature=endscreen&NR=1&v=q-D5o5mZIPI
Don't go casting your pearls before swine,
Weren't they Enron's biggest competitor?
LIBOR Banking Scandal Deepens; Barclays Releases Damning Email, Implicates British Government | Matt Taibbi | Rolling Stone"
...
Diamond meets Woodshed:
YouTube - UK Parliament Questions Barclay's CEO Bob Diamond: Complicity or Incompetence? Which is it?
pavel.chichikov wrote:
How quaint.
It was 106.3 here today in the south burbs of Chicago.
105.1 yesterday.
104.9 on the 4th of July.
104.1 the day before.
Took a trip to southern IN last week, where the drought is even worse than it is up here. Many recreational lakes are closed, because the water level is below the pier, complicating problems with the boats already on the lake. On the drive down there, I stopped to stretch my legs for a bit on a side road in the middle of nowhere. The corn crop is a disaster in the making across large areas of the state.
I remember the drought in 1988 around here, and what is going on this year dwarfs that by at least an order of magnitude.
Well. CH4.
Bruce in Tennessee wrote:
I sure in the f**ck hope not. Your ignorance only exceeds your lack of intelligence.
dryfly wrote:
It must take take real genius to crash a company like Dynegy. Bonuses all around.
Chicago Dude wrote:
Until it busts. Boom.
merchants of fear wrote:
http://i.imgur.com/IMzer.jpg
HomeGnome wrote:
Yes. Our show will end. But only after all the other shows end.
RevolutionWillNotBeTelevised wrote:
Heat Burst?
Chicago Dude wrote:
I do not harbor such delusions of hubris.
Looks like it: Dynegy - Wikipedia, the free encyclopedia
"The company adopted the name Dynegy in 1998. It attempted to buy the Enron energy trading firm in 2001, but failed. Dynegy nearly went bankrupt in 2002, and several executives were eventually convicted of financial fraud and mismanagement. Dynegy exited the energy trading business in 2002 and the natural gas supply business in 2005, focusing its efforts on electrical generation."
Our show isn't ending. Housing is recovering and construction jobs are up. Don't you people read?
HomeGnome wrote:
Buy corn futures
HomeGnome wrote:
The 0.01% of the world need the US to be the last show running. I am just sitting in the cheap seats, my friend.
"The show is about to end and the actors revealed."
'If a person were to try stripping the disguises from actors while they play a scene upon stage, showing to the audience their real looks and the faces they were born with, would not such a one spoil the whole play ? "
Erasmus, The Praise of Folly
RevolutionWillNotBeTelevised wrote:
Decade Total Increase Annual Rate of Increase
2002 – 2011 20.72 ppm 2.07 ppm per year
1992 – 2001 16.00 ppm 1.60 ppm per year
1982 – 1991 15.10 ppm 1.51 ppm per year
1972 – 1981 13.95 ppm 1.40 ppm per year
1962 – 1971 8.88 ppm 0.89 ppm per year
Outsider wrote:
tacticaldefault wrote:
I suspect he does. But he is one of the few MSM able to communicate to the J6P in terms they understand. I don't feel it is fair to hold him to an HCN standard. Who else is writing this well, about a topic no other corporate whore will touch?
"HomeGnome wrote:
Fri, 07/06/2012 - 2:37pm
I'm late.
I'm late.
For a very important date."
You finally got an appointment to get fitted for platform shoes?
RevolutionWillNotBeTelevised wrote:
So no "knee high by the 4th of July" this year?
The ugly thing about deficit spending (especially at our scale) is that it is allowing rents to rise, and these rents are pushing up valuations.
At the time I didn't understand that a follow-on effect of the Bush tax cuts of 2001-2003 would be the housing boom.
Now, the 2002-2004 housing boom was a confluence of more than that, but the cuts' impulsive force should not be controversial in retrospect.
Deficit spending is keeping the crooked casino in operation.
Graph: Federal Government Current Receipts (FGRECPT)/Personal Income (PI) - FRED - St. Louis Fed
The low yields keeping .gov going is going to slaughter state & local pensions.
PERS: Unfunded liability of pension funds tightens its grip around Oregon | OregonLive.com
He's got a date with the couch. Again.
poic wrote:
Yeah, so you can kiss my ass!
poic wrote:
Elton John finally capitulated...
"He's got a date with the couch. Again."
He checks for pennies at a specific time?
poic wrote:
She makes me wash her shoes, dude!
He checks for pennies at a specific time?
That's his new biz. Along with soda can deposit collecting.
RevolutionWillNotBeTelevised wrote:
Here in Texas, the drought has been exceptionally mild compared to last year. That. That was BRUTAL.
"You finally got an appointment to get fitted for platform shoes?
Yeah, so you can kiss my ass!"
http://www.kcmeesha.com/wp-content/uploads/2008/12/in_living_color_homey_the_clown_dont_play_dat-t-link.jpg
G_DDAMIT! OUTSIDER!
THAT WAS A SECRET!!!
Poic quoted Lewis Carroll:
"I'm late.
I'm late.
For a very important date."
“I can't go back to yesterday because I was a different person then. ”
― Lewis Carroll, Alice in Wonderland
Darn, I'd edit it, but you locked me in.
Corn Price Gain Seen Prompting Higher Meat, Soda Costs - Bloomberg
Coke Zero ftw?
then again the kind i like uses chlorinated sucrose
"Bush tax cuts ...DOD program increases" Homeland Security...Deficits don't matter...2 unfunded wars, corp tax loopholes, tax havens, outsourcing-downsizing-right-sizing, and more...
"What in the hell kind of leftist thinking is this?"
Yeah, right!!! Lefty thinking fer sure.
Bwahahahaha...
Just practicing for my Home Proctology Test
the Supreme court already has an IP expert - Stephen Breier
...
ever read his paper on IP in Harvard Law Review... blackhalo?
“I can't go back to yesterday because I was a different person then. ”
YouTube - The Byrds ~ My Back Pages (1967) lyrics
"Just practicing for my Home Proctology Test"
I heard Duke created that test.
HomeGnome wrote:
I love that phrase. Although for slightly unusual reasons.
We have been modifying corn for so long, that we have(as a species) greatly increased its yield, and the way it grows. While this phrase may have been true 100 years ago before the massive increase in hybrid varieties, if your corn was only knee high by the 4th of July these days, you are actually having an incredibly bad year.
'Knee-high by 4th of July' corn not good enough now | Minnesota Public Radio News
"That the phrase has outlived its usefulness says a lot about how much plant breeders have improved the genetics of corn. They've been cross breeding the plant for more than a century to make it grow better."
It is basically a historical marker frozen in time, of what farms were once like in the distant past. But thanks to technology, it no longer is true.
^
|
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Oh crap
Come on, Duke isn't that bad.
Once you accept the fact that he's a bald faced liar.
Incoming f
{ grabs outsider and runs into bomb shelter }
"plant breeders have improved the genetics of corn. "
Genetically modified organism - Wikipedia, the free encyclopedia
"Those who speak most of progress measure it by quantity and not by quality."
George Santayana (1863 - 1952)
Outsider wrote:
Tell me you didn't just watch 'Hedgehog'.
YouTube - The Hedgehog Movie Trailer 2011 HD (French)
poic wrote:
Those two, re-starting the human race.
Heh.
Beauty and the Beast
88 degrees and I'm still thinking about going for a ride
YouTube - The Doors - Riders On The Storm (ORIGINAL!) - driving with Jim
poic wrote:
Wimp.
Once you accept the fact that he's a bald faced liar.
really, Gnome?
...
prove it..
Dude, that's below low to call Outsider a beast.
What's gotten into you dear gawd?!?!?
YouTube - The Hedgehog Movie Trailer 2011 HD (French)
Ooh. Looks good.
I dunno it's possible Duke is bearded.
Pavel: Certainly, wasn't he a passenger on flt 232? Sioux City, in my backyard. Yep, done all the reading and stuff on that accident. We once had a lot of airline, military pilot friends. Most are dead now. The result of "getting geezer."
Dude, that's below low to call Outsider a beast.
I want to know just what Eric meant by "Heh"
HMMMMMM?
Bill McBride's new tagline:
Built a house up on that ass, that’s an ass state "
...
from the rap song Mercy by Kanye West
FDIC: Failed Bank Information - Bank Closing Information for Montgomery Bank & Trust, Ailey, GA
FDIC: Press Releases - PR-80-2012 7/6/2012
Barclays Criminal Probe Begins, Experts Speculate Other Banks Involved In Libor Manipulation
07/06/2012 3:06 pm
"..... is skeptical that bank executives will face prison because of the scandal. "There's no question that market manipulation is a very, very serious crime, and it's something we've thrown people into jail for," he said. But "I don't think anyone's going to jail," he added. If they do, "it won't be for a long time."
Poor Bernie could use some company. If he was in China, he'd be an organ donor.
Duke of Con Dao wrote:
Keep shooting your pie hole off.
Libor manipulation: broil
I think there's a coded message there.
merchants of fear wrote:
Damn boomers.
HomeGnome wrote:
Very good. It's a beautiful day. I'll have to take my camera along and snap a piccy.
HomeGnome wrote:
More like neck high out here (SD), or well above head level for... those of diminutive stature. It will be interesting, especially if the absence of rain is prolonged with this high heat and humidity (we're sitting in the mid-90s yet again today).
Antipodes wrote:
Maybe you could update your blog.
How close are you to tasseling? Two weeks?
It will be interesting, especially if the absence of rain is prolonged with this high heat and humidity (we're sitting in the mid-90s yet again today).
Never forget the 30s.
Keep shooting your pie hole off."
...
consider that phrase... nonsensical, really. just like you...
dryfly wrote:
It's got to be in that neighborhood. There are farmers who are rather worried. But hey, what do they know, right? I'm sure we can field some experts into the media outlets to soothe any public whisperings of doubt. Or find some sort of distraction for them.
Deficit spending is keeping the crooked casino in operation.
ok what's the problem... if you don't like our establishment, get the hell out
HomeGnome wrote:
Working on that.
I like the sound of a train going by. Lived a couple of blocks away from tracks for much of my life.
@ blackdog:
CEOs have no idea what the economy is doing. They should read this blog.
"Where is Kruggles when we need him" to kick around.
"Krasting has a very thought-provoking data-dump of what's going to happen to SSTF interest "income" in the age of ZIRP."
Rolling over 5-6% debt into 1-2%.
Re: dynegy has a very interesting track record. Finally taken over by a pumpanddump PE company, but not without a lot of fraud and angst beforehand. A sad, convoluted background. A poster child for today's sick & dying corporations. See here:
Dynegy - Wikipedia, the free encyclopedia
CEOs have no idea what the economy is doing. They should read this blog.
mr-c, you are really funny.
Duke of Con Dao wrote:
Uh, you have any proof that you were ever within 30 meters of ANY of your "Close Encounters" with the myriad of celebs you claim to be on good terms with? Come on. George Clooney does not even pretend make the claims you do, and I've seen actual video evidence of him at the Oscars in proximity of real celebs.
And your ham-fisted editing of others intellectual property into "mash-ups" is so abysmally bad, that I can go on YouTube and find countless no-name talent that puts your shit to shame.
The onus of evidence is not on the critics, but your outrageous clams to proximate fame. Beyond credulity.
Outsider wrote:
My grandma (age 87) and great uncle (who turns 90 tomorrow!) haven't... most people who lived through it are dead, incapacitated or locked away in nursing homes.
ResistanceIsFeudal wrote:
Damn boomers.
Okay now THAT was a smack-down
My grandma (age 87) and great uncle (who turns 90 tomorrow!) haven't... most people who lived through it are dead, incapacitated or locked away in nursing homes.
I was talking to my 89 y.o. father about it last night, that's what made me think about it. He thinks the media is way overhyping the weather, that they've forgotten about the dust bowl days. I told him - probably not many left who remember it. He said - and the ones who are, don't talk about it (as in, can't).
It's a
... Both accounts are pay go anyway - just changes where the accounting gimmick will be focused on and not much else.
Outsider wrote:
Yeah - and realistically, most of those who might have experienced it and still have the faculties to remember and articulate it were too young to have really been paying attention, pre-age of reasoning with memories of 'bad times' or living conditions but not a broader perspective. Something of a tragedy there, or a feature depending on which side of the profit equation you're on.
For Eric
YouTube - I'm Elmo and I Know It ( OFFICIAL LMFAO Parody )
Xtreme upheaval, losing your farm to taxes due and leaving everything behind for places unknown (and often unpleasant). For those who experienced it, traumatic.
At least, that's what John Steinbeck told me.
dryfly wrote:
Yeah, but the Angry Bear / Dean Baker crowd prays at the temple of those accounting gimmicks.
blackhalo wrote:
(preface I knew you were a lightweight when he sang the praises of Posner... obviously you've never read his work).
Uh, you have any proof that you were ever within 30 meters of ANY of your "Close Encounters" with the myriad of celebs you claim to be on good terms with? Come on. George Clooney does not even pretend make the claims you do, and I've seen actual video evidence of him at the Oscars in proximity of real celebs.
...
while it is true I know a few 'celebs' and am acquainted in varying degrees with scores of others over say a 20+ year time frame I have never made at least to the best of my recollection such claims as you say I have. under the Duke I have made about 9600 comments, yet not once have I gone back to check on what I wrote... if I were fabricating things it would behoove me to do this on a continuing basis, after all, it's hard to lie convincingly over time...
I'm cooking dinner for two near ninety year olds now - my in-laws - wife was visiting them over the fourth and I stayed home ... Then she decided she to have acute appendicitis and surgery. So I ran over to the rescue. Good thing they had good beer in the basement from the last time I was there.
What's for supper? Since I was cooking and in the hot kitchen - roast beef and mashed potatoes. Gotta love Midwestern ninety year olds. Did I mention they are Norwegian too?
Paradigm Lost wrote:
Which is why I advocate selling it during the next panic for a big profit- $3 trillion face probably worth $4 trillion because of the higher coupons.
If we have to liquidate the capitalists, we must use their rope, as it is nice and strong.
Someday this war's gonna end...
Did everyone see the ZH piece eviscerating the supposedly rosy GM sales numbers?
Dec '12 weekly corn futures, a little action last couple:
Corn (Globex) Weekly Commodity Futures Price Chart
While the SSTF is an accounting "gimmick", it is resources the SSA has to meet the demographic surge coming.
Historical and Projected Number of Medicare Beneficiaries and Number of Workers Per Beneficiary - Kaiser Slides
When SSA comes to the Treasury to cash in its holdings, UST will have to find the money.
I suspect the Fed will be more than willing to help them out, but the Fed can't just do that for all .gov spending, I don't think.
There's some very crazy ideas floating around about untaxing capital income and "broadening the base".
Ryan’s Secret Plan to Shift the Tax Burden Onto the Middle Class
The Republicans are playing a very dangerous game here.
Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion — Center on Budget and Policy Priorities
Then she decided she to have acute appendicitis and surgery.
Ouch. Why do those things always happen when you're away from home?
Did everyone see the ZH piece eviscerating the supposedly rosy GM sales numbers?
Evisceration is an olympic sport to ZH.
The Busybody: Lying vs. Bullshitting
At a certain age, I think you see that people will do what they'll do. Volcker's a notable exception, though you can see it in him as well.
My mother had it good -she was the 'rich kid'. Friends lost their houses. Her dad had a butter & egg biz which he sold just before the depression, which he bragged about the rest of his life. Went to work selling insurance & collecting door to door. Small but regular income. Everything paid for. The had blue chip stocks which paid dividends the whole time.
I all but got banned there as a result of calling them out. As you know I'm not exactly a righty tightly but never mind - my views were not welcome.
Point I keep making to both extremes - you can't eat the money. Somebody has to produce the goods and provide the services. We will have no problem doing that if we are productive. If not we are screwed. Doesn't matter how much or little money we have at that time.
lawyerliz wrote:
You and Antonin Dvorak. He was fascinated by trains, too. He would go down to the tracks to watch them when he spent a summer in Spellville, Iowa.
They need to pee in a cup.
Father of a friend has just passed: William DeLee Churchill Obituary: View William DeLee Churchill's Obituary by The Arizona Republic
The time in the sandwich is interesting, watching my child grow while watching friends family go.
The memories of the Second World War are fading, along with the dim memories of the Great Depression.
No more worries for him, hope his family can learn to get along better.
Someday this war's gonna end...
dryfly wrote:
Sour old Germans here, he and his wife are lifers in Holland MN
Go big or go home....
blackhalo wrote:
And your ham-fisted editing of others intellectual property into "mash-ups" is so abysmally bad, that I can go on YouTube and find countless no-name talent that puts your shit to shame."
again, I have made no such claims for my editing ability. or even my production values constrained as they are by my zero based budget.
of course, a fair amount of my work is cribbed from others... steal from the best, Shakespeare sure did.
as for countless no name talent on YouTube since you profess to have an 'eye' I'd like to see what you consider superior...
or perhaps since you are supremely talented why don't you show me your genius...
Another public service announcement from dilbert: For those who think being a landlord rentier is a great way to make money here is my SIL's current experience with his rental in Florida. The tenant watered on a non water day and the SIL was fined $100,000!!!! A lawyer got it down to $10,000 and said that was a low as she goes.
There is a business opportunity there for some controls systems people to provide automatic shutoff on non-watering days.
dryfly wrote:
If only one could make a decent living at it...
Should have just paved over the lawn. It would have made great parking for those vehicles up on blocks.
I would have probably told the city- take the house, complete with tenant.
That fine (and atty fees) is probably five years profit for them.
Someday this war's gonna end..
Blackhalo wrote:
>> dryfly wrote:
>> Somebody has to produce the goods and provide the services.
How would that profit the rent-seekers?
Volkswagen Avoids $1.1 Billion In Taxes By Giving Away 1 Share In Porsche Deal
07/06/2012
"Volkswagen is proving yet again that automakers are absolute geniuses at avoiding paying taxes.
The German automaker paid $5.58 billion to take over the precentage of Porsche AG that it didn't already own, Bloomberg reports. And it also gave Porsche one share of VW stock -- a move which let VW save $1.1 billion in taxes.
By forking over that one additional share, VW was able to categorize the deal as a restructuring instead of a takeover...."
"Both accounts are pay go anyway - just changes where the accounting gimmick will be focused on and not much else."
Dryfly: Good to hear. I see this stuff and because my understanding is thin on the top, I get concerned. So, is it fear mongering aimed at us BBADs? Sigh...I try to suss it all out, but I'm a history/anthro/sociologist type...not an economist.
Well if it's too bad of a living - people won't do it. Seriously. No snark.
Chinese wife = safety school
... poic
dryfly wrote:
Correct. As you say, market signals work.
Time for a cold
(Guinness this time)... 
is it hot out!
dryfly wrote:
And that leads, of course, to soup lines, WPA and bankers jumping out of 30 story windows...
It's not all good news - while pay go sounds like a relief it means ... We really do have to be über productive to pull it off. Do you see evidence in place to suggest we are doing that?
Blackhalo wrote:
That's what the golden parachutes are for.
"If we have to liquidate the capitalists, we must use their rope, as it is nice and strong."
OK Allen, I'll build the platform with the swinging trapdoor.
Duke comment == bullshit
Mash up that 4 prepubescent teenagers on ZeroIQ watch == Duke video.
Citizen AllenM wrote:
A really rich mean person would sell the house way below current value and screw the comps and prop values reducing county income.
Better to just cap and lock all outdoor hose bibs.
Thing is, we work for money not food.
The 1%'s rent taps are impoverishing the 99%:
Graph: Consumer Price Index for All Urban Consumers: Rent of primary residence (CUUR0000SEHA) - FRED - St. Louis Fed
Rents Increase as Vacancies Dry Up - WSJ.com
as is the $600B/yr flowing out of the economy to our trading partners.
The system is being sustained by debt take-on, first consumer debt 2002-2007 and now federal debt:
FRED Graph - FRED - St. Louis Fed
Any transition to sanity that does come is going to be brutal.
So brutal that we cannot do it willingly anymore. It will have to be exogenous.
FDIC: Press Releases - PR-80-2012 7/6/2012
PR-80-2012 Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of Montgomery Bank & Trust, Ailey, Georgia
Georgia on the board early
face it poic
you could never compete
ever
that's why you opted for the safety school
they'll take anybody
Interesting video discussion with John Hilsenrath:
Video - Jobs Picture Might Not Be as Bleak as You Think - WSJ.com
Not just about jobs, but his take on Fed thinking.
damn... 0 on BFF poll... RiF = FAIL
goodnight
Don't let the door hit you.
ResistanceIsFeudal wrote:
RiF == Reduction in Force? Self-riffing?
HomeGnome wrote:
We have a door now? Damn, kcoop is always adding new features to HCN!!
According to the administration if we had not undertaken recovery stimuli unemployment would currently be running 5.9%.
So? Can you eat it? They can print all the money you would ever want. Truck loads for every man women and child. Will it change one bed pan?
The wealthy 1%ers own assets - productive assets. Wholly owned companies. Large plantations. Mines. Intellectual property rights. Assets that produce goods that they make gains off of regardless of monetary policy.
So if you want to consume actual goods you better hope there are enough of them produced that there are some left for you. The amount of money you have won't matter if they aren't there.
sm_landlord wrote:
Familyblog! I haven't won in a while. As my crappy score would indicate.
Chinese women actually require their husbands to have a career.
Which explains Duke's inability to attract an Asian spouse.
dilbert dogbert wrote:
The loophole here, that I have told my friends to use(I'm on a private well, so its all good) is to plant some tomato plants near whatever bushes/shrubs you want to water when it gets dry out.
The way the law is worded here, is that odd/even watering restrictions only apply to decorative plants/lawns. If you water your food plants, you are ok to water on any day you wish.
Of course, with Citizens United -- and the recent court case throwing out Montana's campaign finance law -- the 1% are able to roll out the dominant media voice to defend their parasitism.
Catching the TV ads run by Rove's operation is, er, educational for me.
That half the population has less an average intelligence is troubling, to say the least.
Give Romney FL, OH, and WI and he's got the presidency.
ElectoralVote
dryfly, best wishes on the surgery. The meal sounds delicious, but so many recipes here do, yet I have have not tried squirrel. They are rather rare in this city.
This confuses me. Ameris (which has a local branch here) wanted less than 10% of the assets ?? And the FDIC gets to deal with the remainder. Sounds like the FDIC is getting hard up to find takers for these problem banks.
rosy forecasts in May '12, we'll see:
Old-Crop Carryover Hammers Corn Market
Haralambos wrote:
Tough and stringy, I am told, and not much meat. Maybe the East coast squirrels are better - the grey squirrels seem at least larger.
Chinese women actually require their husbands to have a career."
...
Chinese women actually require their husbands to have five dollars in their pocket."
Haralambos wrote:
Stray dogs and cats disappearing yet?
Duke of Con Dao wrote:
but its very easy to lie unconvincingly.
ResistanceIsFeudal wrote:
I'm so bad at guessing games that I try to avoid playing. It just makes me more depressed.
"Chinese women actually require their husbands to have five dollars in their pocket."
Well that explains your inability to hook up with one
"You and Antonin Dvorak. He was fascinated by trains, too. He would go down to the tracks to watch them when he spent a summer in Spellville, Iowa. "
Me and my granddaddy would sit and watch the trains go by. Car after car after car. Gossiping about the people in the Pullmans. Clickety-clack, clickety-clack. Love that sound of the old bolted rail.
My granddad loved cars, motorcycles, trains and planes. We used to go out to the end of the runway (before jets), lay down on the grass and watch the planes fly over us. We loved to wander through the airports watching the people landing and taking off. Could spend hours there.
My favorite, by far, was traveling by train, all over the Midwest, down to Texas and AZ, and over to California. Century-21, Baybee! I was in heaven when I went to Europe. Y'all don't know what you're missing. There's a reason some of us folks adore trains and planes.
Cash assets only, abt 7% of the total; so the rest was bad loans probly. 93% haircut is
wipeout.
Comrade Troyski wrote:
I'm afraid that problem is inescapable.
What troubles me is the low level of the average
And this happened just recently?
I can't tell if we are talking past each other here, but we don't have a production problem in this country, we have a rent problem.
Rents are sucked out of the 99% to go and die with the 1% (as capital returns begin compounding on themselves).
Our trade deficit has sucked $3T out of the J6P economy, too.
This is exporting purchasing power out of the economy, and I expect some of those trillions to eventually come back to us, removing our hard wealth and finally giving us our dollars back in return.
We obviously have a saving glut given the 1.5% print on the TNX today. This is evidence of a financial system halfway clogged up, with money only freely flowing UP.
Un-sus-tain-a-ble.
The battle of the next 10-20 years is one of disgorgement. The
has laid down their markers with the Ryan Plan.
The blue team is nervously looking at the polls, wondering if the electorate will return them.
The hard reality is that we need to double the tax burden on nearly everyone, at least in pain terms if not actual numbers.
Not something anyone is going to vote for, not until we actually go over the falls.
Exogenously.
sm_landlord wrote:
Trader Barbie: "Gambling is HARD!"
the Agonistes of Chinese women:
a) parents might abort them before they are born
b) parents might sell them off to highest bidder
c) highest bidder's some sad sack loser American
ResistanceIsFeudal wrote:
rosethorn wrote:
Not looking at the fine details, but I see that the DIF contribution will be $75.2 million.
but its very easy to lie unconvincingly.
...
if that's the case why am I not unmasked as a serial liar?
no doubt, some on here have slogged thru my postings looking
for inconsistencies and yet... ?
...
did it ever occur to you that what drives this vitriol is
**old fashioned jealousy? **
sm_landlord wrote:
In theory, smart folk could not sell them out...
No, they are proliferating. Any ideas on solutions aside from euthanising them all?
Comrade Troyski wrote:
There's a lot of evidence of exponentially diminishing returns. People have always said they hated them but they remembered them which was the point. Lately it has been less effective.
...
PA and MI are wobbly. This means little at this point. Rep Convention big boost, Dem Convention will be about how much they can win back. And the flash polls immediately after will not be reliable.
Comrade Troyski wrote:
sm_landlord wrote:
Trader Barbie obviously risked her own capital.
"We really do have to be über productive to pull it off. Do you see evidence in place to suggest we are doing that? "
Nope. I think we're capable of it, though. What do you think? What do we need to do to get there?
Off to ride with Green Day blasting
dryfly wrote:
Pl;ease tell me you didn't have the beer until after you operated.
Best wishes on the recovery.
Jealousy?
Liz smacks herself to shut herself up.
Rob Dawg wrote:
Are you sure about PA?
Voter ID law may affect more Pennsylvanians than previously estimated - Philly.com
All these dumb people... we could, you know, give them something to do and an education path to follow...
Or we could bleed 'em dry!
"That's what the golden parachutes are for. "
But, but...someone has ta pack his parachute, 'cause he certainly won't do it for hisself.
lawyerliz wrote:
I keep starting to write comments, then cancelling them.
sm_landlord wrote:
I knew there was a reason I liked you.
dilbert dogbert wrote:
Same principle as the $20 lemonade (in the gold-lined cup).
you
By the way local people in charge of the voter rolls are ignoring crazy -eyed Scott's voter purge orders.
sdtfs wrote:
FRED Graph - FRED - St. Louis Fed
not a productivity problem -- a rent problem.
Get the parasites in medicine ($4000+/capita in rents) and housing (more, probably) off the backs of the working class and we'd have riches for all, or at least be able to pay on what was promised to the boomers.