I have perfect timing this week. Almost every single day. And I don't post that much.

Lucky dawg MBW

There's this LIBOR story that has legs, CR.

MBW must have the Duke on IGNORE
otherwise he'd see I topped him...

Duke of Con Dao wrote:

MBW must have the Duke on IGNORE
otherwise he'd see I topped him...

Nope, I don't have anyone on ignore (plus, my post was a comment about my previous post.) I saw you - it was others who apparently did not. Perhaps they have Duke on ignore .

a work in progress...
YouTube - Investing Adventures in Real Estate with Bill McBride #7
...
that Kanye line is too good not to use....

1 currency now -yogi wrote:

There's this LIBOR story that has legs, CR.

The deputy governor of the Bank of England was warned that UK lenders were manipulating interest rates a year before he allegedly gave Barclays “a nod and a wink” to rig its own, in a call with former chief executive Bob Diamond in 2008.

He'll be doing his twirl ( copyright Anthea Redfearn ), his 15 minutes going on 2 1/2 hours of fame, his appearance before the beak tomorrow

Parliament Live TV » what's on

Don't seem to have the TSC grilling in the schedule but it will be there later I'm sure. Marcus Agius on Tuesday - sounds like the Roman Circuses no ?

Iceland’s Economy Is Mending Amid Europe’s Malaise - NY Times

Think that shown as mirroring EST.

MBW
Eighty twenty. Most are time delay. Some cable companies use the east coast feed or two feeds.

Yay Iceland.

homedad43 wrote:

called a "re-run".

An Encore Presentation is the technical term.

So if I'm watching it with a beer, it's a re-run but if I'm sipping Chardonnay, it's an Encore Presentation?

Sheesh.

Yeah, I thought of mp's GoogleDox when I saw the story.

But it's so nice to be ahead of the curve.

since you seem to know so much about the Allende gov please explain the scandal concerning Casto's famed visit to that country?

LOL. I don't know shit about anything. I just root for the poor and f-ed over, victims of monopolists and rent-seekers.

This doesn't make me a big-s totalitarian Socialist, my name here is more ironic than that.

Did you know the University of Chicago was (re-)founded with Rockefeller money?

True story!

"How did Knight come to Chicago? John D. Rockefeller funded Chicago spectacularly in 1892, and started raiding other campuses by raising salaries. Rockefeller picked the first President, William Rainey Harper. Harper picked the first economist, J. Laurence Laughlin, from Andrew Dickson White's Cornell (he liked Laughlin's rigid conservative and anti-populist views). Harper drove out Veblen in 1906, then died, leaving Laughlin in charge of economics until he retired in 1916. He passed the torch to J.M. Clark, the son and collabourator of J.B. Clark.[60] Frank Knight first came to Chicago in 1917 from Laughlin's Cornell. The apostolic succession is fairly clear from Rockefeller to Harper to Laughlin to Clark to Knight."

The Corruption of Economics

I am pro-freedom and anti-ownership. Too few people own way too much stuff these days, and it's only getting worse.

Cash deals are the new normal in real estate - Worldnews.com

Granted, my white-bread existence on this planet has no doubt been benefited greatly riding on the wave of American soft imperialism.

"I don't have any solution, but I certainly admire the problem".

so it is shown an hour earlier on the West coast than the East coast. Time to curl up with a glass of and watch alien invasions.

homedad43 wrote:

I spent a year with an Icelandic roommate in college. A certifiable whack-job. Not saying that all Icelanders are like him

3 of the 4 Texan roommates I had were whack-jobs. Of course, I'm an honorary Texan now, so I'll go back and try and figure out my argument.

MBW wrote:

and watch alien invasions.

Henry IV Part 1 - with Jeremy Irons

BBC Two - The Hollow Crown, Henry IV - Part 1

I suppose its also about alien invasions in some ways.

skk wrote:

Henry IV Part 1 - with Jeremy Irons

BBC Two - The Hollow Crown, Henry IV - Part 1

I suppose its also about alien invasions in some ways. Smile

Generally, I can be properly shamed for watching dreck... but not these days.

homedad43 wrote:

Bet my Icelandic guy spoke better English than your Texans.

Draw, Hygelac, you snake worshipper.

Hence the gin/tonic.

homedad43 wrote:

Hence the gin/tonic.

Good choice...

splurged last week on Tanqueray along with the ol' standby, American Honey.

Haven't had Gin in the house since before the kids were born.

skk wrote:

1 currency now -yogi wrote:

From the previous conversation: The autistic 15 year old girl. If the parents are in California they are re-inventing the wheel. Lots of agencies do this. I visited a setup where Nuns were running the show. My son lives in a special housing set up in Palo Alto.
I wonder if anyone has tried to teach the girl sign language? Have some personal experience with that approach to reaching the non verbal. One boy in my son's school who was uncontrollable, bouncing off the walls, calmed down greatly after one of the teachers took the time and trouble to get him signing. Kind of late at 15 however. I expect someone has tried.

Maybe the cozy relationship between the central bank and the big 'profit-center' banks needs to be re-examined, CR. Does the Fed tip off 'the market' before it makes a major policy decision-- you know maybe it asks JPM to stress test what would happen in the crazy event that it raised rates a quarter point. Would the Fed act 'independently' if JPM were on the wrong side of a trillion? Really?

http://alephblog.com/2012/07/06/an-analysis-of-three-month-libor-2005-2008/

I think the LIBOR scandal is a tempest in a teapot...
the subject matter is too esoteric and not easily
boiled down to a sound bite...

dilbert dogbert wrote:

From the previous conversation: The autistic 15 year old girl. If the parents are in California they are re-inventing the wheel. Lots of agencies do this. I visited a setup where Nuns were running the show.

Thanks I'll past the data along.

I wonder if anyone has tried to teach the girl sign language?

She was signing - I picked up the "thank you" sign ( I offered her some cashews - I thought she was blowing a kiss and its discomforting to get it from a 15 year old to a 58 year old till it was explained to me ) , the "want to eat" sign ( that's harrowing for someone knowledgeable about the poor in India - its what beggars do to signify hunger ) - other signs - whittling wood == wanna go ( perhaps? ).. but overall pretty quiet - not much signing or vocalization going on.

Nuts. I assume Baron Davis is shot, but still. Kidd was incredible on the Nets. Of course the best point guard they ever had was Sugar, hands down.

homedad43 wrote:

Both of 'em are gifted actors and makes me wonder what they've got in the water that we haven't.

To be fair to us, they probably only send the best stuff for export.

Carmelo wants Camby to play for Knicks...
Jason will be the shell of the man he once was... sadly

Duke of Con Dao wrote:

with Jeremy 'I'll Chew Up all the Scenery' Irons?
first off, he was once a very good actor... but then success and

Interesting view - for me, its great to see the luvvies who move on to do other things - soaps, Spooks ( MI5 in the USA ), Julie Walters - back treading the boards. One imagines they've been part of the RSC or some such and Shakespeare is so familiar to them - totally in their element..

No stagefright whatsoever.

Wait.. accomplished actors and stagefright ? what am I saying

Syrian army conducts exercises in show of force as Iran warns of regional ‘catastrophe’ - thestar.com

U.S. Secretary of State Hillary Clinton warned on Sunday that Syrian opposition forces were growing more effective and that Syria’s government risked a “catastrophic assault” by rebel fighters if it didn’t work to resolve the conflict.

She appeared to be referring to the possibility of Syrian rebels launching an assault rather than to outside intervention. While Assad has faced sanctions and international condemnation, major Western and Arab powers have shied away from direct military action.

“There is no doubt that the opposition is getting more effective in their defence of themselves and in going on the offence against the Syrian military and the Syrian government’s militias. So, the future . . . should be abundantly clear to those who support the Assad regime,” Clinton added.

Have to hand it to them ... the does good stealth regime change.

.
.
.
.
.

Comrade Troyski wrote:

"I don't have any solution, but I certainly admire the problem."

That's going into my personal Pantheon.

Comrade Troyski wrote:

I am pro-freedom and anti-ownership.

Yeah people forget that those two terms have some opposite...properties.

OP-ED CONTRIBUTOR; Why Russia Supports Syria - NY Times

deja vu

tg wrote:

deja vu

Faint echo.

Doc Holiday wrote:

skk, I think you missed my post? Glasses

Comment by Doc Holiday from thread 'Fed Speak and a few Key Fed Dates'

heh ? I definitely don't want to be responsible for your blood pressure - something to work hard to keep under control.

If I apologize will that bring it down ? I apologize.

good night...
...

Doc Holiday wrote:

I am chasing after some water retention and blood pressure stuff lately, but it's genetic and your off the hook.

Noooooo(va)! Don't do this to us.

burnside wrote:

That's going into my personal Pantheon.

Ashleigh Brilliant quotes

My favorite "Please don't ask me what the score is, I'm not even sure what the game is."

LIBOR Banking Scandal Deepens; Barclays Releases Damning Email, Implicates British Government | Matt Taibbi | Rolling Stone

Doc Holiday wrote:

WTF, maybe blah blah blah ...

Maybe people are fucking idiots.

tg wrote:

LIBOR Banking Scandal Deepens;

Tucker in this version of events was acting as a middleman for the British government, telling Diamond to fake his borrowing rates in order to preserve the appearance of financial stability, for the good of Queen and country as it were.

• The same thing was going on with Bush and the Ownership Society, as they were all pumping the housing bubble and fanning the derivative flames...

skk wrote:

I just knew when I was watching Richard II last week that my seeing Obama in him wasn't false -

Narcissism par -excellence

Not even that. Obama doesn't know how to lead by doing, lead by working. He's administration and diktat. This is why he annoys me when he repeats his mantra "we've got a lot of work to do."

Rob Dawg wrote:

This is why he annoys me when he repeats his mantra "we've got a lot of work to do."

That's because work is hard.

MBW wrote:

is someone actually blaming the paleontologists for causing the looting

I apologize for my sarcastic off base comment; I just sort of jumped to a wild conclusion and thought it was somewhat humorous. It's a crazy world and not unrealistic that someone would destroy something to make money. Hope I didn't offend you, sorry!

YouTube - Pete Townshend & The Who - I'm One (Demo) - Quadrophenia Director's Cut

MBW wrote:

Obama doesn't know how to lead by doing, lead by working. He's administration and diktat. This is why he annoys me when he repeats his mantra "we've got a lot of work to do."

Rob, you and I are probably on pretty distant ends of the political spectrum, but I can't say I completely disagree with this assessment.

Another 4-8 years in the Senate collecting IOUs (and dirt) and he could have been a very good President. Of course 8 years in the Senate and he probably could have assumed Teddy's mantle and decided to stay.

Archaeology?

Have you worked in the southwest? I am about 1 degree of separation from most of the long-term folks in Arizona.

There will never be a shortage of artifacts. They've got 200 years of collecting stored up in the back rooms. And now museums don't even care about displaying them anymore - they just put up endless posterboards written at a sixth grade level. Then they wonder why no one visits the museums.

Rob Dawg wrote:

he probably could have assumed Teddy's mantle and decided to stay.

See: John Quincy Adams - Wikipedia, the free encyclopedia

Adams was elected a U.S. Representative from Massachusetts after leaving office, the only president ever to be so, serving for the last 17 years of his life with far greater success than he had achieved in the presidency.

When Southerners passed the Gag Rule, suspending freedom of speech within Congress by making it illegal to even discuss slavery in the House, he would spend the next eight years flogging Southern Representatives with their own rule.

Dramatic death as well:

Two days later, on February 23, he died with his wife and son at his side in the Speaker's Room inside the Capitol Building in Washington, D.C.

For the beach: Amazon.com: Mr. Adams's Last Crusade: John Quincy Adams's Extraordinary Post-Presidential Life in Congress (9781586486891): Joseph Wheelan: Books

Recession-Wracked Boomers Seek Reverse Mortgages at Younger Age: MetLife

While the economic downturn may be a major reason borrowers have begun to use this financial option for debt management, in the future it is likely that tapping home equity will be viewed as part of the entire retirement planning process,” Stucki said in a statement. “It is likely the reverse mortgage option will be considered alongside some of the more traditional methods of saving and investment."

burnside wrote:

the Ameican Museum of Natural History

I've always wanted to visit.

skk, if I get onto the current state of library collections, I'll just go shoot myself. So I'd rather not.

ain't going to happen with the NY Public... they've got a lot of troops...
as for the Nat His Mus .... a few good stories...
one that ended in an interesting trysts with 2 anthropologists...
enuff said...

Ever been to the Margaret Mead Film Festival at the Museum? Love it...

Doc Holiday wrote:

VIDEO: Fight at Britt David Park embarrassing for city of Columbus, says league administrator | Latest News | Columbus Ledger Enquirer

Everyone of those suckers was overweight.

EDIT: Speaking of which, from the sidebar on the same page...
Woman accused of throwing 20-pound water main cover at man | Latest News | Columbus Ledger Enquirer

Yeah, it's time for me to say time for me to get to sleep so I can get up and study for the-test-that-shall-not-be-named. Harry Potter would cringe.

yogi is sort of talking to himself as most here don't think the central bank is the problem or even a problem.

When you get right down to it, all most people care about is how things might affect them and they think the Fed Reserve is their financial caretaker now and live for more stimulus if that keeps the Zombie economy going a little longer... and any perceived harm can be delayed or shifted to someone else in the future. Maybe they work for entities that will gain from the stimulus or QE. Do they care who is hurt by derivatives trading? No. (Not unless it is them.) Most here don't even talk about derivatives.

Analysis: Euro zone fragmenting faster than EU can act
| Reuters

An invisible financial wall, potentially as dangerous as the Iron Curtain that once divided eastern and western Europe, is slowly going up inside the euro area.

The interest rate gap between north European creditor countries such as Germany and the Netherlands, whose borrowing costs are at an all-time low, and southern debtor countries like Spain and Italy, where bond yields have risen to near pre-euro levels, threatens to entrench a lasting divergence.

Since government credit ratings and bond yields effectively set a floor for the borrowing costs of banks and businesses in their jurisdiction, the best-managed Spanish or Italian banks or companies have to pay far more for loans, if they can get them, than their worst-managed German or Dutch peers.

Angry Brokers Leave Firms — and Take $59B with Them

Shanghai: 2,170.81 -2.37%
SHCOMP Quote - Shanghai Stock Exchange Composite Index - Bloomberg 

Clearly, the market is pricing in official 'fine tuning' efforts.

Bad

Export slump brings lean times at China's Wal-Mart on steroids'
| Reuters

Christmas comes but once a year. For Leo Ho, who runs a factory that makes plastic Christmas trees in Yiwu, China's export capital for novelty knick-knacks, it comes in July, when tree orders start rolling in.

But early signs point to a lean Christmas for low-cost exporters like Ho, who told Reuters his sales were down 20 percent year-on-year in 2012.

.....

shill wrote:

Angry Brokers Leave Firms — and Take $59B with Them

FTA

"We're seeing bigger teams now making bold moves and moving to another wirehouse...

Is that really how they refer to the banks among themselves? WASS

Fed officials favor QE3; Asian data signal drop in global demand
| Reuters

...

Japan's core machinery orders in May plunged 14.8 percent from April, with the key gauge of capital spending sinking far below analyst expectations of a 3.3 percent decline. That raised the risk that growth momentum in the world's No. 3 economy will stall if firms start to scale back investment.

Meanwhile consumer inflation in China, the world's second biggest economy, eased more than expected in June, with producer prices in outright deflation for a fourth month.

The numbers signal that demand for goods from the nation's vast factory sector - especially from foreign customers - is declining as the global economy weakens.

Exports from Taiwan, one of the world's largest producers of electronics, declined in annual terms for a fourth straight month in June against market expectations of a modest rise. Taiwanese firms make the majority of Apple gadgets as well as smartphones for various brands, and the dip reflects falling global demand for such consumer products.

Europe's biggest economy, Germany, announced that imports and exports rose more in May than expected, but economists said it was a rebound from weak figures in April.

....

Not quite Down Goes Frazier, but we should locate the links for the weeks ahead.

Gotta be prepared and all.

Asian Stocks Drop on Growth Concern; Yen, Bond Risk Rise - Bloomberg

C

Next stop, Earth's Core, Deep NIRP Nine:

German Government Bonds 2 Yr BKO Analysis - GDBR2 - Bloomberg

C

My security blanket is in the washer! Oh woe is me.

Here NN borrow mine

http://www.pichoststone.com/pic/nikingstore/OR/OR00038/n5/0.jpg

Denton Bank & Trust confirms Oct. closing - The Star Democrat: Business

lol shill, my favorite is sheeple wool.

Counterpointer wrote:

Might instill confidence.

Confidence? In who or what?

Just for laughs....here's a 2013 deficit projection from 2009....expect to hear more of the same about the end of the second term

OBAMA, BREAKING 'FROM A TROUBLED PAST,' SEEKS BUDGET TO RESHAPE U.S. PRIORITIES - NY Times

By the last year of his term, in the 2013 fiscal year, Mr. Obama projects a deficit of $533 billion, or 3 percent of the overall economy, a level that economists consider sustainable. Even so, he foresees the level of the nation’s debt held by the public rising from 58.7 percent in the current year to 67.2 percent in a decade, a level not seen since 1951.

The current 2013 budget description....
Budget Overview | The White House

Including the $1 trillion in discretionary cuts, the Budget includes more than

$4 trillion in balanced, deficit reduction so that, by 2018, we cut the deficit to less than 3 percent of GDP, stabilize the debt-to-GDP ratio, and achieve primary balance.

YouTube - "Annie" (1982) - Tomorrow 

Counterpointer wrote:

Not quite Down Goes Frazier, but we should locate the links for the weeks ahead.

Maybe even look up the new quarterly circuit breakers.

curious wrote:

I didn't realize the levels changed quarterly.

HCN: "It's edumacational"!

Yields on Spanish bonds rise above 7% - MarketWatch 

So -- it must be time for another European Financial Summit. Trouble is that it is the Summer holiday season. Finding blocks of hotel rooms big enough to support an EU Summit is not going to be easy. Prediction: A catering crisis is imminent.

Pricesmart and ALCOA after hours.

Italian 2y joins in the whiplash at the short end, 35bp range so far today. Current up 29bp on 4.15%.

Italy Govt Bonds 2 Year Gross Yield Chart - GBTPGR2 - Bloomberg

C

Eric wrote:

You trolling for ?

ate all the and

now they want the too.

is running out of kibble, fast.

Nanoo-Nanoo wrote:

Currently Smoking Cannibis

I see you finally found the inhaler.

Yancey Ward wrote:

I don't know about you guys, but gas in my present location bottomed last week, and is already rising again.

Gas here in the Volunteer State is up about 17 cents from the low...

vtcodger, sociopolitical stresses might trump and cloud that picture.

Oil Rebounds as Norway Strike Looms - Bloomberg

I guess I'd better call my buddy over there and 'splain to him we need that oil.

Campbell Soup buying Bolthouse Farms for $1.55 bln

Meanwhile... China’s Stocks Drop Most in Month on Economy, Deflation Concern - Bloomberg

China’s stocks fell by the most in a month, after a drop in producer prices fueled concern deflation may spread to other parts of the economy and Premier Wen Jiabao said the economy faces “relatively large” downward pressure.
PetroChina Co., the biggest energy producer, dropped 2.7 percent to a record low before a report later this week that may show economic growth slowed to 7.7 percent in the second quarter. Angang Steel Co. (000898) paced declines for steelmakers after saying it expects to swing to a loss in the first half. Data today showed consumer prices rose 2.2 percent in June from a year earlier, compared with the 2.3 percent median estimate in a Bloomberg survey, while producer prices slid 2.1 percent.
“A lower inflation figure actually implies the economy is slowing down more than expected,” said Cao Xuefeng, an analyst at Huaxi Securities. “Investors are quite worried that other data this month will be below expectations.”

Japan Current-Account Surplus Shrinks 63% as Machine Orders Drop - Bloomberg

“Today’s machinery order drop is very large, and it may be a signal that Japanese companies are becoming cautious about investment” amid concern about a global economic slowdown, said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management in Tokyo. “Though exports have been slumping, we don’t expect Japan to have any major trade deficit.”

...That's the thing...all of us are living through this debt overhang, and except for a few smaller countries, most of the world is seeing something new...and most economists tell us this lasts longer and has more false starts that the usual recession...that is why I haven't been surprised that the 10 year is where it is...and will probably go lower...the Japanese have led the way...not the Greeks for us here in the US...

My two cents..

States, Congress rallying for an e-sales tax - The Washington Post

No, no...we just got that straightened out! It would be a penalty not a tax...

...now it's all better..

traderwalt wrote:

Bill Press just reported that Obama is seeking an extension of the Bush tax cuts for Americans making less than $250,000 per year .

Chance of passing? 0%.

Caption this:

http://ei.marketwatch.com/Multimedia/2011/07/21/Photos/MG/MW-AL629_merkel_20110721055240_MG.jpg?uuid=3849c4f4-b37f-11e0-a0a8-00212803fad6

YouTube - Looney Tunes Bugs Bunny classic moments

Of course not Eric because the poor, poor rich folks will cry a river tears that they need their tax breaks more. So in the end, they'll probably ONLY extend them for those making OVER 250K per year. It is the only feasible answer that works. The job creators need more tax breaks.

Eric wrote:

traderwalt wrote:
Bill Press just reported that Obama is seeking an extension of the Bush tax cuts for Americans making less than $250,000 per year .
Chance of passing? 0%.

It doesn't really matter much here since most doomers apparently make more than that amount. Or do many of them support Mitt for other reasons? Like this.

Investigation: Mitt Romney’s Offshore Accounts, Tax Loopholes, and Mysterious I.R.A. | Politics | Vanity Fair 

While I have little use for the current douche in chief one of the reasons he is spending so much more is because things that were left off the budget (2 wars and Medicare D) now have to be paid for and are included. It makes a nice sound bite though.

No no no you just don't understand. That won't make a big dent in it so it's not worth doing or some such nonsense. Also, job creators.

traderwalt wrote:

Ending the Bush Obama tax cuts for the wealthy is a good start.

Obama could have done that with a veto pen.

Nanoo-Nanoo wrote:

This is what gets me about what became of so called fiscal conservatism, it was anything BUT.

Precisely...

Had we gone the other route...things might be different. See Iceland for details.

Iceland? You mean that our scumbag ex-president and his war criminal vice president might be in jail where they belong? Not bloody likely. (And even the Icelanders didn't actually jail their ex-prime minister although he was found guilty on one count of "failing to adequately inform" whatever the hell that entails.)

Besides which, GWB can always use the stupidity defense. I was too damn dumb to know that what I was doing was wrong. Who could argue?

Comrade Kristina wrote:

They have the votes to override any veto he tries to pull so no, he couldn't.

Huh? He could have vetoed the original extension.

Comrade Kristina wrote:

They have the votes to override any veto he tries to pull so no, he couldn't.

Congress Passes $858 Billion Tax-Cut Extension, Sends to Obama for Signing - Bloomberg

Before the House voted 277-148 for final passage on the tax-cut agreement....

Comrade Kristina wrote:

Go stop that robbery yourself citizen.

OooooooK! The wild, wild west it is then.

I think I'll pay a visit to Jekyll Island.

Comrade Kristina wrote:

The council won't vote to raise property tax rate and the mayor can't write bad checks so he cut the pay for all city workers to minimum wage effective last week.

Looks like he is forcing the citizens to get involved in their government.
At least he has their attention.

Need

Caption competition:
Angela: you do know, Nic, that I'll be counting my fingers after the handshake.

C

Oh, I get the chagrin it's just that the POTUS is little more than a figurehead. Our governments handlers will decide how these votes go down and no individual politician is going to do jack shit about it. And everyone here should understand that.

The are invertebrates, so why is anyone surprised that politicians on both sides of our so called Democratic Republic are also?

Good Morning

The real voting ballot

Comrade Kristina wrote:

Oh, I get the chagrin it's just that the POTUS is little more than a figurehead.

Is that what you think of Bush I, Bush II, Reagan and Nixon?

Web goes dark for Canadians with DNSChanger computer virus - Technology & Science - CBC News

OK ... so how is this supposed to work?

How do they know which computeers have the virus?

How can joe citizen know if their computer has the virus?

If one computer using a server has the virus, the server gets shut down affecting all users?

If you are on the internet today, you don't have it