Recent comments by Mook

josap wrote:

I want El Nino now.
It's 116F'ing deg out there.

No you don't. Believe me, sister, 96F and 50% humidity doesn't feel any better.

Outsider wrote:

If stock markets didn't exist, how would the wealthy get wealthier?

Same way they did prior to 1900, I suppose ... pour tremendous amounts of money into buildings, farms, and factories to exploit the massive advantage of massed capital over unmassed labor, manipulating the system to keep rents high and wages low, and inserting themselves as toll-collecting intermediaries at every possible step up and down the value chain.

Boy, I sure am glad we live in a world where all that is just a historical footnote!

Rob Dawg wrote:

Wait. You want the State to fund the education of just any old child?
They already dictate content.

I have an idea! Let's put a big initiative in place to transfer those responsibilities from the harried and frankly untrustworthy states to the Federal level! History is replete with examples of such programs delivering massive effectiveness and efficiency gains at a fraction of the cost.

ResistanceIsFeudal wrote:

Well, those determined to be useless/ineducable could be put to work in a dangerous factory, or forcibly given a nonlethal treatable illness, trained into a pure consumer lifestyle, etc. Plenty of options exist prior to euthanization.

Eeexelent!: "Smithers, you can stop working on developing those robots to put to use in my old coal mine. I've found a far superior source of free labor."

ResistanceIsFeudal wrote:

How about paying the women a living wage to carry the child to term and beyond to at least 21 years old????
Only if the State can see to its education and training.

Wait. You want the State to fund the education of just any old child? For free? What are you, some kinda pinko commie?

poicv2.0 wrote:

Outsider is now a regular column writer in my newsletter.
Her first two columns
"Retire rich through tenting in your no-heat apartment"
"Dandelions. Not just for chipmunks"

I hope she took my advice and titled her column "Live Cheap, Die Poor".

Belmont wrote:

A Fed rate hike will be a vote of confidence for the economy and may actually strengthen the economy by getting "wait and see" consumers, investors, and businesses off the bench.

That would be a very persuasive argument if any of that mattered to the Fed.

In reality, the only relevant question is (sing along, long-time HCN'ers!): "Does it help the banks?"

KarmaPolice wrote:

"Long after this forgettable GOP debate is forgotten, Rubio's remark will resonate: 'If this election is a resume competition, Hillary wins.'

Fortunately it's actually about who the electorate would like to have a beer with. ld,o.

yogi wrote:

Guaranteed that both empty suits of the GOP Presidential ticket will be partnered with a dummy.

Laughing out loud Bravo, sir. Well, ummm, played.

Nytol

EngineerJim wrote:

Rand Paul

His mistake was trying to meet the rest of the field halfway in the interest of playing to the crowd.

He'd have been better off playing the role of libertarian peacock ... i.e. if you're gonna go no-Trump, might as well bid the slam.

yuan wrote:

“The purpose of the military is to kill people and break things."
Also known as "introducing democracy".

New Keyboard

And remember: if it doesn't work, it's because ...

... (whispers) they're ignorant brown people who don't really understand how it's supposed to work.

Whiskey wrote:

Starting to think that he's not a serious candidate.

"Starting"?

EngineerJim wrote:

Billionaries don't bowl.
Bowling is for the common folk.

Too true.

Do they calculate averages in polo?

yuan wrote:

Kasich
Probably the only candidate that has a chance of beating Killary in a two way race.

He's far too ... something ... to ever make it out of the primaries. What's the word?

Ah, yes. "Rational".

Mike_PNW wrote:

the economy seems to do best with DC in gridlock ...just the way it is

Completely agree. So you'd be OK with Hillary at 1600 and a GOP Congress, too?

Mike_PNW wrote:

Hillary as POTUS with 40% of the popular vote would be a great way to start the next four years of gridlock..

Why are conservatives such fans of the Jeffersonian "that government is best which governs least" maxim ... except in situations like this?

This whole thing is a trainwreck. A beautiful, glorious trainwreck.

LL wrote:

Trump won't support whoever wins and may run independently.

I was going to say "more money than sense" but remembered that any positive quantity is greater than zero.

poicv2.0 wrote:

Septuple with a side quadruple espresso chaser << Antipodes

The (independent) coffee shop around the corner from my sister's office building makes their largest drinks with four shots of the go juice.

Not too crazy, you'd reckon - except that their largest cup size is 12 oz. for hot, and 16 oz. for iced (which I know, from long experience, equates to about 10 ounces of actual beverage).

I learned this on my second visit there, which certainly helps to explain why I was lying awake staring at the ceiling at 1:30am after my first visit.

vtcodger wrote:

Cost effective storage of large amounts of energy turns out to be a very tough problem.

Many very tough problems turn out not to be so tough when tens of billions of dollars' worth of R&D are thrown at them.

I'm being a bit flippant, of course, but that's exactly the sort of thing that the Kingdom obviously had both the means and the motive to pursue.

arthur_dent wrote:

The problem ... is that the world’s financial markets, meant to intermediate efficiently between savings and investment opportunities, instead misallocate capital and create risk.

This is among the best one-sentence explanations of what's wrong with the FIRE industry I've ever read.

vtcodger wrote:

Surely, there is a market for other Saudi products that can take up the slack. Like ... well ... ehrr ... sand?

The fact that the Saudis, with trillions in oil revenues to dip into for seed money and 800,000 square miles of desert to choose from, aren't 20 years ahead of ROW in solar technology is both inexplicable and sad.

tg wrote:

The idea of comparing water usage isn't new and the positive "peer pressure"

My favorites are the two or three from every group who are openly defiant of such "soft pressure".

My brother worked in field sales for a company who a couple years back switched out all their reps' cars for Priuses. Someone from HQ got the bright idea to send out a monthly report with each rep's average gas mileage, in the hopes that it would encourage this positive peer pressure and save the company $$$ on fuel bills and wear and tear.

As soon as he heard the news, my brother took his Prius to a guy who hacked it to maximize low-end torque and acceleration and proceeded to drive it like a rented mule. He successfully wound up at the bottom of the rankings every single month until he left for a new job.

His favorite quote: "Nothing screams green like 18 mpg in a Prius."

ResistanceIsFeudal wrote:

Car "accidentally" accelerating to 103 mph and refusing to turn off, brake, or slow down -- a bit more than a nuisance.
Don't give away ALL the good business ideas here, sheesh! This is a public website!

I smell a business case for a "platinum" insurance plan!

Rickkk wrote:

MAD's Hillary 'Mad Max' Cover Is Something To Behold
08/05/2015
Let's not be glib about this cover -- it's fking epic

As great as it is, the Trump poster may actually be better: http://img.huffingtonpost.com//asset/scalefit_630_noupscale/55c221ac1d00006e00143e7f.jpeg

"Blow Hard With a Vengeance" ... New Keyboard

Private schools getting more expensive and opulent: They show how the super rich are leaving the mildly rich behind.

Hancock Park’s Marlborough School, the paper reported, tore down a number of neighborhood homes to “add an Olympic sized aquatics center, fitness facility and expanded athletic field,” while West Hollywood’s Center for Early Education (a school so known for its power-broker parents that it has acquired the less-than-flattering moniker the Center for Early Networking) is now attempting to raise between $50 and $75 million for campus upgrades.

It has always been thus that the rule is "there's the x percent, and then the proles." In feudal times, that x was about 0.1%. A few decades ago, Western society had gotten it up to something closer to 20%.

Well, the pendulum is well on its way back.

Comrade Kristina wrote:

Good morning.

Wow, you're really making a habit of this early-to-rise thing, CK.

I was up hours ago for a 5am con call with India. Now that it's over I'm trying to convince myself not to go back to sleep.

Nemo wrote:

What's the record for the shortest time between a rate hike and an emergency cut?
Whatever it is, I suspect it's going to be broken within the next year.

The ECB raised rates by ¼ point on Jul. 9, 2008, then cut them by ½ point on Oct. 8 - less than 3 months later.

It'd be neat if the Fed did exactly the same th ... ummm, wait a minute.

Rising from the ashes! Ba-da-boom-TISH Nemo&#039;s Monkey

dilbert dogbert wrote:

I guess Dragnet could be replaced by a reality show called LAPD Beat Downs.

"In today's episode of CHiPs: Jon pulls over a black man whose turn signal lamp was out and tases and hog-ties him; Ponch flirts with IA's video editor so she'll 'accidentally delete' the footage of the traffic stop. A laugh riot for all!"

I got a chuckle out of this: Comment by poic from thread 'Fannie Mae economist: House "price appreciation not supportable" and more'

The first reference I can find to a poic newsletter, dated June of 2010.

It's a toss-up whether that or LL's "what can't be paid, won't be paid" (cough, :pennybags:, cough) is the most durable HCN meme without an icon to its credit at this point.

sum luk quoted:

Jamie McGeever ‏@ReutersJamie

Greek bank index trading at 237 points, -28% today after -30% each of the last two days.
In Nov 2007, it topped 78,000 points.

I certainly hope platinum subscribers to poic's newsletter followed his recommendation and went long on margin!

KarmaPolice wrote:

Oh yes. This is one to watch. Unbridled hubris is very entertaining.
Inside Shell’s Extreme Plan to Drill for Oil in the Arctic - Bloomberg Business

When all you have is a hammer ...

Jackdawracy wrote:

5% is only 500% 400% more than 1%, no biggie.

Are you sure you're not a millennial? Tongue

Blackhalo wrote:

And a check for 20K?

Pay no attention to that Lagos return address. I'm ... here on vacation. Yeah, that's it.

Mike wrote:

The difference between 1% and 5% interest on a $10K account is like a buck a day..hardly a life style changer

I've got about $20k in savings. If you commit to sending me a check for $730 every year until the FFR hits 5%, I'll glady send you my address.

josap wrote:

Our R/Tea Party government defunded all university funding. Cut back all public grade / high school funding. They are now insisting the only way to fund the schools is to sell the State Trust Lands.

Wait. You mean the resulting tax cuts didn't supercharge AZ's economy past ludicrous speed to ... Laffer speed? (gasp)

Jackdawracy wrote:

Do they hold regular sprint exercises in Cascadia on the coast heading east, in anticipation of a rerun of the 1700 quake & tsunami, or is the smug demeanor there enough to offset 27 foot waves?

Here's the training video: Son Volt - "Drown" - YouTube

bearly wrote:

yogurt came to $5.15...so i gave the girl the coupon and a $1 bill...she leans over to the girl working next to her to ask how much change she needs to give back.

That's the pent up demand, staring back at you with a confused look and a 96mo Prius loan.

New Keyboard POTD.

Remember when the mere fact that the Millennials are more numerous than their predecessor generation and were entering their "first-time-homebuyer" stage in life was going to be fuel sufficient to keep the housing Bubble, Bubble, Toil and Trouble chugging merrily along?

CR quoted:

The share of 18-34 year-olds living with their parents rose about four percentage points (pp) during the recession and its aftermath, resulting in a few million extra "kids in the basement."

"mom just wanted to txt u i'm having mike and josh over tonight to hang. thx. oh btw, they said 4 million of their friends might stop by, lol"

And it's amazing, amazing I tell you!, that the conclusion of a Fed study dovetails so neatly with the modern-day Fed mantra of "you can't identify a bubble beforehand; you can only clean up after it".

resusitate wrote:

San Francisco Fed study says only a crash could have prevented housing bubble - MarketWatch

Only the effect could have prevented the cause! Economics is hard

Blackhalo wrote:

Who is going to buy a a repackaged Sub-Prime 3% loan tranche, with Fed rate hikes immanent and the 30 year at 2.877%?

Why, we the peons are, of course!

Oh, wait. "Buy" implies that we get to share in the profit in the unlikely event of further gains.

Who is going to be on the hook for a a repackaged Sub-Prime 3% loan tranche, with Fed rate hikes immanent and the 30 year at 2.877%?*

Why, we the peons are, of course!

Much better.

bearly wrote:

Appalachians have it tough enough already.

I thought we'd all agreed by now that it's entirely their own fault for failing to be born in a more prosperous area of the country with higher-quality infrastructure, better schools, and a wider variety of high-paying jobs.

LL wrote:

They haven't figured out it's time to stop.

"Elmaz said the looting had pretty much stopped, at least in the thirty or forty kilometers around Tirana. I asked him whether the OSCE force had imposed law and order. He didn't think so. 'They are just driving around and sitting in cafes like everyone else,' he said. I asked him if the government had managed to quiet things down. It didn't have an army anymore, but it still had the secret police. But Elmaz didn't think the police had done much except pester Sali Berisha's political opponents.

"Then what stopped the looting?" I said.

"They were finished," said Elmaz.

-- P.J. O'Rourke, Eat the Rich

JD wrote:

You get not only the stock pick of the week, but also a bonus pick of the week @ no additional charge, as we are so unsure you'll be happy.

poic's motto is "We're not satisfied until you're not satisfied."

poicv2.0 wrote:

Looks like my top-tier newsletter recommendation to go long any Greek stock is paying dividends to all my satisfied subscribers.

I think that in honor of that market's recent performance, you should rename your newsletter's top picks column "Limit Down".

LL wrote:

More proof of how stupid banks are. Not that we needed it.

Now, now, give them credit. When the horses are halfway to the next county and they close that barn door, by golly, they make sure it stays closed.

For a few years, anyway.

ResistanceIsFeudal wrote:

People have no end of rationalizations as they adjust to lower standards of living and reduced expectations.
We're only just getting started.

The only question left is: will those expectations drift down slowly over a period of many years, or crash head-on into the brick wall of reality at 80mph?

In other words: 1930s America, or 1790s France?

Experts agree that using free money for investment is the best kind.