Recent comments by Mook

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.

Outsider wrote:

Once the entire population becomes dependent on Social Security, you can't just whip the rug out from under them, including letting them whip the rug out from under themselves, which is a very likely scenario.

At least you've hit the nail on the head with your language. SS is no longer (if it ever was) a retirement plan, nor a tax. It's a dependency scheme.

Those who use barfly's tone imply that most of America are idiots, and further that there's literally nothing - no government welfare at any level, no private charity, no relatives and friends - between betting wrong with one's investments and living in a cardboard box on the street.

Despite what you might infer, my solution to the SS mess is a helluva lot more liberal than the status quo. Does that pique anyone's interest, or shall we go on sniping from opposite sides of the current wall?

sum luk wrote:

… just imagine what your income tax rate would be if they did that.

Or they could just let me do my own investing with it, in which case said rate would be 12.4 percentage points lower. I'd take that deal, thanks.

ResistanceIsFeudal wrote:

You came back?

Parasites have evolved to be as vigilant as possible in seeking out potential hosts.

Rob Dawg wrote:

The 40lb tick. Funny how we keep coming back to that.

You rang? Wink

ResistanceIsFeudal wrote:

Economics is amazing! Real estate is amazing! Cheap debt is ... well, not wanting to spoil the plot again...

The good news is that the next year or two ought to give us plenty of opportunities to link to this video! Love

HYUNA - 'Bubble Pop!' (Official Music Video) - YouTube

ResistanceIsFeudal wrote:

Cheap debt is amazing! But it's like there are consequences after all!

Like going all-in in poker, it works every time until it doesn't.

But at least we're sitting at the table with OPM! Party

Jackdawracy wrote:

If you don't allow stocks to be traded en masse, is that a Chinese takeout?

They're trying to avoid the dim sums that would result from a lo mein.

KarmaPolice wrote:

"Centrica will shed 6,000 jobs, partly due to a reduced focus on oil and gas production."

It's hard to imagine how a business model predicated on using enormous amounts of debt to leverage the exploration and production of a wildly volatile commodity could possibly end badly.

The four-week average of weekly unemployment claims decreased to 274,750.

I'm sure this was accompanied by a brisk increase in the participation rate.

ResistanceIsFeudal wrote:

Probably because it was based on reflating assets instead of spurring actual economic growth.

Economics is hard: "Wait. You mean there's a difference?"

ETA: Ken would make my day if he recategorized the above icon under "Tools".

curious wrote:

MW headline:
U.S. GDP report puts Fed on track for September rate hike
For me, it was just the opposite reaction. I figured the revisions were exactly the cover they would need to keep from acting.

Yep. My thoughts exactly.

'You want a lift, a ship arrives and gives you one. The pilot may think he has any one of a million reasons why he has decided to stop and pick you up. The real reason is that I have determined that he will.'

poic wrote:

"FOMC Transcript, condensed version: Maybe we will, maybe we won't. We're not sure yet."

I thought it was "Hold my Beer while I pull this lever blow more air into this Bubble, Bubble, Toil and Trouble" ?

Fixed It For Ya

josap wrote:

Rates need to go up so they have room to lower them again in the future. Even if that future is 6 to 9 months out.

Who needs rate cuts when you can print trillions of new money to hand out to the banks instead? it's so much more fun.

curious wrote:

Second, the people who put these schemes together are very intelligent and absent the capital gains windfall might actually do socially productive work like, say, producing American products that people around the world would like to buy.

However much time, resources, and brainpower you might think the average F500 company dedicates exclusively to tax avoidance, it's actually more than that.

Wilberforce wrote:

every worker should just incorporate themselves, so that it wouldn't be wages increasing, just corporate profits.

I assume I'll get to call them "carried interest" and deposit them into an offshore tax shelter as well?

Youre only as good as your last envelope "Nice legacy you got goin' on there so far, Miz Yellen. Be a real shame if somethin' were ta happen to it."

Rob Dawg wrote:

Pity the poor sods who use their chess skills to handicap a poker game.

Especially when your opponent is the one who marked the cards.

ndk wrote:

As far as weirdness goes, it's already easily in the same league. Outside my loft, it's random people with mohawks and Doritos wearing pet leashes at 10:00 PM on Sunday evening, and nothing but suits and ties at 9:00 on Monday. I'd frame it a little bit like living in a Stanley Kubrick movie.

New Keyboard

You remember back in high school, there were the jocks, and the nerds, and the rebels, and the goths - and then there was one guy who was the star third baseman on the baseball team, got straight A's, hung out and smoked in his convertible with the rebels, and went to Pixies concerts with the goths? And everyone loved him, but at the same time had this sick sense of envy about him?

Every time I visit Denver, I meet a whole bunch of people who work 50-hour weeks, hang out in brewpubs until closing time, drive home in their Beemers, then take their Jeeps up to the mountains each weekend to trail-bomb on their bikes or ski double black diamonds, and I have high-school flashbacks all over again.

ndk wrote:

I inked a deal for a loft in Denver in February, and similar units are already selling for 10% more. Like, actually selling, not just listed. It's hard to describe just how much fuego Denver is en.

Oh, you don't have to tell me. Our company has a plant just outside the city, and it's virtually impossible to get people to accept long-term assignments there - both buying and renting are eye-watering and the company COLAs haven't come anywhere close to catching up.

I've heard tales of people living an hour from NYC who come back from interviews and remark that house prices in Denver are too rich for their blood. My Head Just Exploded

I'm sure it'll be different this time, though.

Rickkk wrote:

The price gains portray “a housing market that’s growing quite healthily but isn’t overheating,” David Sloan, a senior economist at 4Cast Inc. in New York and one of the best forecasters of the Case-Shiller index over the past two years, according to data compiled by Bloomberg.
...
All 20 cities in the index showed a year-over-year increase, led by gains of 10 percent in Denver and 9.7 percent in San Francisco.

Remember, kids! 10% annual appreciation on your house an an era of zero inflation isn't overheating. It's the natural way of things. Buy now or be priced out forever!

Suggested Survivor: GOP 2016 immunity challenges ...

  1. Foreign policy: Contestants are given a giant blank map of the Middle East and have to correctly identify as many countries as possible in 60 seconds.
  2. Turbo-debating: Points awarded for number of different catch phrases utilized, decibel level, and how long they can go without taking a breath.
  3. Speed-fundraising: Contestants have to run to a podium, offer a coherent policy speech to an audience, then run to the next station's podium 200 yards away (by scaling a wall, or swinging over a lake, etc.) and come up with a new speech, and so on. They're awarded "dollars" for each speech based on how well they've kept their breath and stayed on-message by the audience, who consists of past and present American Idol judges (cross-promotion alert!)

Oh my God, this idea has legs.

Outsider wrote:

Instead of elections, they should just play one big game of musical chairs, with the last chair being the throne.

Let's go whole Pigged and make it into a season of Survivor. On an actual, honest-to-goodness desert island - punji spikes and all.

Where's Mark Burnett when you need him?

1% mortgages & $1 TRILLION deficits. Goldilocks!

All brought to you by FRB fiat and banks decreed to be TBTF, of course.

Because "Mumble mumble mumble free market capitalism mumble the best path to prosperity!"

Sirus wrote:

Even if the state doesn't step in, taxpayers are on the hook and Banks will just buy up the entire economy until they get their due through liquidation. That is the point people miss consistently.

The fiction of value attached to unpayable debt will continue until the asset stripping is complete.

Hmm, it's almost like I've heard that phrase somewhere before.

/snipes RiF for the first time in living memory, dances jig

josap wrote:

29% subprime car loans.
300% payday loans.
28% credit card interest.

Eeexelent! "I have no problem with collecting interest. It's the paying interest I don't want."

ResistanceIsFeudal wrote:

that's why we need the really really smart people.

Fortunately for us, the current generation of really really smart people are all working on Wall Street, where they've proven they can do no long-term damage to the economy.

josap wrote:

Ten minutes, just give me ten minutes and a back pack.
Well. ok, I'd have to drag the back pack out. Probably couldn't lift it.

I once spent a good hour lying awake in bed wondering if, given 30 seconds in a vault for a pure snatch-and-grab for which you would never be apprehended, you'd be best off if the vault were filled with:

a) gold bullion (say, 100-oz bars)
b) $100 bills, unwrapped and loose in piles
c) $20 bills, wrapped in bricks and neatly stacked

In order of value-per-weight it goes b, a, c - but does the larger value of the Benjamins offset the convenience and portability factor of the other two? With the right assumptions you can make a fairly easy case for any of the three.

And people wonder why I drink so much caffeine at work.

ResistanceIsFeudal wrote:

So lower the cost of living.

But ... but ...

Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!!
Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! D E F L A T I O N !!1!1!one!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!!
Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!!

Blackhalo wrote:

I'd argue that half is on projects that are really needed, and the other half are hand-outs to states and districts that do not have either the skills or infrastructure to do the needed work, but need congressional support.

Defense spending is basically the polar opposite of advertising. Half the money is wasted, and everyone knows exactly which half.

picosec wrote:

Thought experiment...what if the cost of oil was zero and it took no expense to get it out of the ground but it had to be processed and delivered? Sort of like liquid nitrogen providers.
What would that do to the economy?

When you figure it out, let me know - because play that tape forward instead of backward and you've just described the solar industry.

24-hour Spot Chart - Silver 

In glod we trust and Hi Ho Silver, Away! have fallen completely out of bed. Right through whatever "technical support" levels analysts were nattering on about recently.

So much for the commodity supercycle!

There are currently 4 members and 94 guests online.

Oh noez! CRVIX is flashing complacency!

Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!!