Recent comments by Rajesh

Across the Curve » Blog Archive » Deja Vu All Over Again

Washington Auto Credit, just one of many similar companies in a burgeoning industry, helps would-be car owners find financing for their vehicle purchases by connecting them with a growing crop of subprime car lenders. On its website, it lists Flagship Credit Acceptance, a relatively new auto lender backed by the private equity firm Perella Weinberg, as one of its partners.

Remember, these are sales from the manufacturer to the dealer, not from dealer to customer/lessor.

Is there a vehicle repossession index?

Brazil's Rousseff re-elected by grateful working-class, country divided
| Reuters

The 66-year-old Rousseff, who was a Marxist guerrilla in her youth, overcame growing dissatisfaction with the economy, poor public services and corruption to narrowly clinch a second term for herself and the fourth in a row for her Workers' Party.

After a bitter, unpredictable campaign that pitted poorer Brazilians grateful for government anti-poverty programs against those exasperated with a stalled economy, Rousseff must now seek to continue flagship social services even as she tweaks economic policies to restore growth.

Most investors are skeptical that Rousseff can turn around the slumping economy after four years of ineffective industrial policies. Futures contracts for Brazil's Bovespa stock index expiring in December INDZ4 fell more than 6 percent on Monday before the Sao Paulo stock exchange opened, while Brazil's currency BRBY slipped 3 percent to a nearly six-year low.

Those were the days!
Italy market watchdog bans short selling on Monte Paschi shares
| Reuters

Italy's Consob has banned short selling on Monte dei Paschi's shares on Monday and Tuesday, the Italian market regulator said in a statement.

Shares in Italy's third biggest bank lost more than 17 percent on Monday after results from a pan-European health check of lenders showed on Sunday that Monte dei Paschi faced a capital shortfall of 2.1 billion euros - the biggest gap among the 130 lenders under scrutiny.

KarmaPolice wrote:


It's stealth hyperinflation. You know it's there because you can't see it.

Rousseff leads in Brazil presidential race - Houston Chronicle

Brazilian President Dilma Rousseff is leading opposition contender Aecio Neves 51-to-49 percent with 95 percent of the vote counted.

Still, there are too many uncounted votes for a winner to be declared. That's according to the official count Sunday night from the nation's top electoral court.

Brazilian voters are deciding who will next lead the world's fifth-largest nation.

World Series

World Series

World Series!

EmDrive - Wikipedia, the free encyclopedia

EmDrive (also RF resonant cavity thruster) is a proposed spacecraft propulsion device invented by British aerospace engineer Roger J. Shawyer, who develops prototypes at Satellite Propulsion Research Ltd (SPR),[1] the company he created for that purpose in 2000.[2] New Scientist ran a cover story on EmDrive in its 8 September 2006 issue.[3] The device uses a magnetron to produce microwaves which are directed into a metallic, fully enclosed conically tapered high Q resonant cavity with a greater area at the large end of the device, and a dielectric resonator in front of the narrower end. The inventor claims that the device generates a directional thrust toward the narrow end of the tapered cavity. The device (engine) requires an electrical power source to produce its reflecting internal microwaves but does not have any moving parts or require any reaction mass as fuel. If proven to work as claimed, this technology could be a breakthrough in all forms of travel including ground travel, marine travel, sub-marine travel, airflight and spaceflight.

yuan wrote:

The solution is clearly tax cuts, repeal of onerous government regulations, and social security reform.

You forgot increasing defense spending by a trillion dollars, to cut the budget deficit, you know.

skk wrote:

bloody space-travel

Virgin Galactic to resume powered test flights - CNET

Elon Musk’s SpaceX Will Start Reusing Launch Vehicles Next Year, Cutting Costs | MIT Technology Review

Elon Musk says that next year SpaceX should demonstrate the ability to reuse one of the company’s launch vehicles, something that could reduce the cost of getting to space by a factor of about 10.

The idea of reusing spacecraft is not new. But if SpaceX were to land and reuse one of its rockets it would be a first, and it would make the second launch considerably cheaper. The company has struggled to make the landings work in several experiments though, and Musk says the proceedure may not work reliably for some time.

SpaceX’s rockets are used to launch satellites and to deliver supplies to the International Space Station. The company was recently awarded a multibillion-dollar contract to develop a vehicle for transporting astronauts to the ISS, which would eliminate the need to use Russian spacecraft.

At a shipyard in Louisiana, SpaceX is building a floating platform measuring 90 meters long by 50 meters across. The company plans to land part of its Falcon 9 rocket on the platform after its next mission to the space station, planned for December 2014. Musk predicts a 50 percent chance of success. The company has previously performed a controlled landing into water, rather than on a platform. That attempt was partly successful—the rocket landed safely, but soon after it “tipped over and exploded,” Musk said yesterday at a symposium at MIT.

Just have all the medical workers returning from Liberia routed to Dallas. Problem solved.

josap wrote:

More work that I would ever take on.

The problem is that you have a life.

We have met the enemy and he is us.
- Pogo

Walt Kelly - Wikiquote 

Once you swallow the idea that "it's ethical to be unethical", then it's all good and you can be a Wall Street Bankster.

sm_landlord wrote:

involve emerging markets

If the president is re-elected in Brazil, watch the Dooooooooooooooom!!! .

skk wrote:

I've got ethics.

Probably talked to the guy you stole them from.

skk wrote:

they turned around and said - "Lets cancel"

I think they made a wise choice.

How far do House prices need to fall before it's a crash?

Whiskey wrote:

we just saw the most housing doom we're likely to see in our lifetimes.

A national drop is unlikely but a NYC/Silicon Valley drop is possible even inevitable..

skk wrote:

wasn't the US assassinating Patrice Lumumba, overthrowing Mussadeq, beating up on the Cuban revolution during that time ?

Ah, the good old days.

Off the radar:
Tunisians vote for new parliament, hope for full democracy
| Reuters

Tunisia has fared better than neighbours who also ousted their own long-ruling leaders during the Arab Spring uprisings, largely avoiding their polarisation and chaos even though it faced similar tensions over Islamist versus more secular rule.

But where the role of Islam in politics dominated the first election in 2011, now jobs, economic opportunities and Tunisia's low-intensity conflict with Islamist militants are the main concerns of a country heavily reliant on foreign tourism.

The moderate Islamist party Ennahda and rival secular alliance Nidaa Tounes are favoured to win most seats in Sunday's vote, only the second free election in Tunisia since Ben Ali fled into exile.

But the large number of other parties, from conservative Islamist Salafist movements to Socialists, means a coalition government is the probable outcome. The 217-member assembly will choose a new prime minister.

tg wrote:

for many it will be still be the most profitable investment they can make

No wonder Americans spend every dime they earn; investing doesn't pay.

WRAPUP 1-25 European banks fail stress test, 12 have fixed holes already
| Reuters

The ECB has staked its reputation on delivering an independent assessment of euro zone banks in an attempt to draw a line under years of financial and economic strife in the bloc.

But there is no certainty that bank lending will now pick up as the ECB hopes, to breathe life into a moribund euro zone economy.

"Thinking that lending somehow can lead GDP is an illusion, and I don't know how that has somehow crept into the policy debate," said Erik Nielsen, global chief economist at Unicredit.

Senior Japan official calls for Abe to delay sales-tax hike
| Reuters

A top Japanese government official said Prime Minister Shinzo Abe should delay a planned sales-tax increase, the strongest sign yet that economic weakness is causing concern among those close to the premier ahead of the difficult tax decision.

"I think it should be delayed" by a year and a half to April 2017, the prominent official told a small group of people in a recent conversation on condition of anonymity. He expressed concern that raising the national sales tax too soon after a damaging April hike could derail an economic recovery.

Powerful interests like the Finance Ministry, the Bank of Japan and major corporations want Abe to raise the tax as planned next year to keep Japan's promise to reduce the biggest debt burden in the industrial world. But the economic and political environment is making it harder for Abe to make unpopular policy choices.

Recovery in the world's third-biggest economy is struggling, Abe's popularity has taken a hit with two Cabinet ministers resigning in political scandals, the U.S. Treasury Department is pushing Tokyo not to go too fast on budget-balancing and Abe's party faces tough regional elections next April.

An 18-month delay in the tax hike would be in line with recommendations from Etsuro Honda, a University of Shizuoka professor and a prominent outside architect of Abe's policies to revive growth and banish deflation.

"There's a great danger from the next sales tax hike given the current situation where the positive effects of 'Abenomics' and the negative impact of April's sales tax hike are offsetting each other," Honda told reporters on Wednesday after meeting a group of more than 40 ruling party lawmakers who are growing wary about the next tax hike.

gruntled wrote:

Are they really blaming Nixon for the ultimate failure of capitalism?

I think they are blaming Nixon for the ultimate failure of socialism.

Jackdawracy wrote:

What kind of parent calls their kid 'an associate'?

I would guess a lawyer.

Jackdawracy wrote:

a pressure cooker situation.

A Boston Marathon?

Whiskey wrote:

the crime drop is essentially universal.

Above ground nuclear testing.

lawyerliz wrote:

I need dirt.

Doesn't your governor provide you enough dirt?

RE wrote:

On large projects it separated the men from the boys.

You had men on your projects?

How much of that real GDP growth will be inventory build?

I'm more of an old spice guy, myself.

Mary wrote:

I never express a personal opinion.

Isn't that a personal opinion?

Belmont wrote:

don't go bowling

Does that include conference championship games?

Just because I wear Tinfoil Hat , it doesn't mean that I'm sane.

T minus thirteen months and counting...

sm_landlord wrote:

What else is SNAP?

A way to get urban congressmen to vote for a farm bill that ships money to rural districts.

sm_landlord wrote:

We subsidize the production of food.
We also subsidize the consumption of food.

We subsidize the production of food farm equipment sale and fertilizers sales.
We also subsidize the consumption of food. packaged food companies. Fixed It For Ya

KidPsych wrote:

Well that seemed like a solid plan.

Did he specify bondage on the dating site? Perhaps he chose that box by accident.

The 2016 GOP field is short on women. Carly Fiorina is trying to change that. - The Washington Post

Carly Fiorina, the former head of Hewlett Packard and an unsuccessful Senate candidate in 2010, now heads a PAC aimed at boosting women in politics. And, she might be the latest addition to the list of 2016 GOP presidential hopefuls, according to a piece over at the National Journal. Like a handful of others, Fiorina has visited key primary states, trying to help her party's chances in November.

So, as National Journal notes, Carly Fiorina is thinking about it. But is anybody thinking about Carly Fiorina?

The answer to that is no, not really.

Rickkk wrote:

And it’s by no means clear which side will win.

Ask Meg Whitman or Carly Fiorina, they probably have a clue by now. Or not.

Lever up!
Bonus In!
Stock down!
Bankrupt out!

Jackdawracy wrote:

things have never been better?

The rooms are full, the till is empty.

Rickkk wrote:

Alexander Hamilton, the first Secretary of Treasury, started a movement in 1780 advocating for the creation of a central bank.

Hamilton was not in favor of a central bank, the concept was not wide spread at the time. Hamilton's bill created a nationally chartered bank. At that time, all banks were state chartered. The bank that Hamilton proposed did not have any special powers or responsibility above other private banks other than underwriting debt of the Federal government.

Canada adopts the continuous bailout model of banking, rather than the periodic bailout practiced in the U.S.

lawyerliz wrote:

so many dead electrons.

When the Rapture comes, those electrons will live again.

Hu Knows Im Lovin It!
China Home-Price Drop Spreads as Easing Doesn’t Halt Fall - Bloomberg

China’s new-home prices fell in all but one city monitored by the government last month as the easing of property curbs failed to stem a market downturn amid tight credit.

Prices dropped in 69 of the 70 cities in September from August, the National Bureau of Statistics said in a statement today, the most since January 2011 when the government changed the way it compiles the data. They fell in 68 cities in August.

The central bank on Sept. 30 eased mortgage rules for homebuyers that have paid off existing loans, reversing course after a four-year campaign to contain home prices as Premier Li Keqiang seeks to prevent economic growth from drifting too far below the government’s 7.5 percent annual target. Home sales slumped 11 percent in the first nine months of this year.

“Prices will continue the downtrend for the rest of the year,” said Donald Yu, Shenzhen-based analyst at Guotai Junan Securities Co. “If sales in the fourth quarter fail to clear inventories as developers want, more price cuts are still likely in the first quarter of next year.”

All but five of the 46 cities that imposed limits on home ownership since 2010 have removed or relaxed such restrictions amid the property downturn that has dented local revenues from land sales.