What happened to all of the doom and gloom economic threads?

[mercury14]

Obama is a one man job killing machine. Just killed 20,000 jobs on the Keystone Pipeline, along with those Boeing would have provided if Obama would have allowed them too. The man is a disaster.

So wait, now you're in favor of the administration creating 20,000 union jobs? I thought that was all just corrupt crony paybacks...

 

[unregistered]

 

[unregistered]

 

[patrick1]

I really wish the anglo-american pact to increase mutual irony, started with 'curb your enthusiasm', was still in force.

Patrick

I really really wish the economy of the united states was in the safe hands of these commentators. Obviously, we'd be out of the shit in no time.

Patrick

Because Europe is doing so well??

read the papers doooooosh!

 

[patrick1]

Thank goodness Vetteman has clued us in. Macer Hall, happy to spew out right-wing propaganda for the pornographer who pays his bills, has at last turned his attention from vilifying immigrants to sorting out our economic ills. What a relief. And in the Express too? Who needs the bbc - or even Murdoch's Times - with such a newspaper of record?

Patrick

Master Of The Obvious, Islandman, will no doubt be here soon to tell us how all is well in the Eurozone.


DEATH OF THE EURO

Friday November 11,2011
By Macer Hall, Political Editor

http://www.express.co.uk/posts/view/283060

 

[4est_4est_Gump]

Today could be the big day!




12K, the turnaround continues!

 

[unregistered]

 

[4est_4est_Gump]

So this is another source that's unapproved by the British left? So, the facts are false?

*chuckle*


Truly false...

... and racist!​

 

[4est_4est_Gump]

Victor Davis Hanson has a way of putting it all together that I admire.

Blue Wall Street

Do we recall a Peter Orszag gliding in and out of government and Wall Street, parlaying his Clinton-administration appointments and more recent post at OMB, to make tons of money back home in high-finance at Sebago and Citigroup? In some sense, the epitome of this most recent miasma is former Democratic Governor Jon Corzine, a Goldman Sachs grandee, and now disgraced CEO of bankrupt MR Global. There is zero chance that the caring Corzine will use his prior millions to cover the losses he helped incur at Global. After all, the losers are just anonymous investment funds that the teacher and small businessman put money into through their 401(k]s. Who cares if the 5K they put in this year is all gone?

A Robert Rubin, George Soros, Franklin Rains or Jim Johnson can find insider ways to make tens of millions, regardless of the health of their corporation or the ethics of their conduct — and apparently expect to face little popular scrutiny, given their liberal fides. None of their pictures will show up on placards at Occupy Wall Street protests. You see, we live in an age where the biggest recipient of Goldman Sachs and BP cash, indeed the most successful Wall Street fundraiser in presidential history, who alone renounced public financing of presidential general election campaigns, can himself politick as an anti-Wall Street, anti-corporate jet, anti-“millionaires and billionaires” man of the people. What does Barack Obama do when he meets his own targets at the back nine on Martha’s Vineyard? Smile and say, “Nothing personal,” as he invites them over to a $50,000 a plate fundraiser?

The charge that many financial institutions are amoral may be true, but the charge that they are logical reflections of conservative greed is often a lie. Indeed, Wall Street is more deeply embedded within the Ivy League, and within the New York-Washington liberal nexus, than among the sorts who show up at a Tea Party rally. Exactly what financial brilliance earned Jamie Gorelick, a Clinton apparatchik, a $26 million take at Fannie Mae, as it imploded and nearly wrecked the country? Did she give back to the Fed any of her lucre? What sort of populist was a Sen. Chris Dodd (of Dodd-Frank reform fame) who used his office for low-interest personal loans? How in the world did Rahm Emanuel end up making $16 million as a “banker”—what financial genius had he previously shown, what Harvard MBA did he earn? How did Barney Frank go from a demagogue demanding no-background loans for the supposedly underprivileged overnight to a concerned legislator pontificating, after the fall, that renting for some might be preferable?

So until I see posters of a Gorelick or Rains in Oakland, I don’t put much stock in the Occupy protests.

PJmedia

 

[4est_4est_Gump]

Keep in mind that insider trading is legal for members of Congress...

The bipartisan debt panel to nowhere is exactly where K Street lobbyists want it to be: hopelessly deadlocked. A November 23 deadline for agreement on $1.2 trillion in budget savings is looming, but no real reductions in the size, scope or spending of government are on the table. Instead, we are witnessing another obscene special-interest splurge to preserve the status quo. All in the name of "reform," of course.

The only thing "super" about the so-called budget control super committee is the size of lobbying muscle exerted on its members. Almost 100 registered lobbyists who are former employees of super committee members are now "representing defense companies, health-care conglomerates, Wall Street banks and others with a vested interest in the outcome of the panel's work," the Washington Post found in September. This includes two dozen former staffers to Democratic Sen. Max Baucus of Montana, including three former chiefs of staff.

On the other side of the revolving door, 10 out of the panel's 12 members have now raked in donations from foreign registered agents totaling more than $50,000 in direct campaign contributions during 2011 alone, according to government watchdogs. The additional amount raised through fundraisers held by these lobbying firms is unknown, according to the Project on Government Oversight. Moreover, all 12 super committee members have been contacted by foreign lobbyists, eager to secure targeted exemptions, loopholes and protectionism.

Super committee co-chair Patty Murray, who refused to step down from her fundraising duties as head of the Democratic Senatorial Campaign Committee, recently met with South Korean lobbyists employed by D.C. powerhouse firm Patton Boggs. Roll Call reported that while the panel's negotiations wouldn't have direct bearing on free-trade deals, Murray "could have access to information about how the timing of the debt deliberations could affect passage of the free-trade agreements."

Michelle Malkin
Townhall.com

 

[patrick1]

So this is another source that's unapproved by the British left? So, the facts are false?

You have me utterly wrong. I'm a libertarian, of the left variety. The more news sources the better I say. Really, I do. Even the Express and Fox News.

You mention facts. Journalism rarely contains facts, in my experience. The adjectives in the reports are amazingly alarmist at the moment, from 'left' to 'right'. Most of what's being peddled is gossip trying to turn itself into news.

Just as every 'subsidy' of a poor schmuck is also a subsidy to the rich bastards who sell them stuff - or, indeed, vice versa, if you're of the opposite political persuasion to me - so every 'bailout' of something called 'Greece' or whatever is simultaneously a bailout of the banks who lent them money, and thereby, of their shareholders. Hey, which probably includes me, at some tiny percentage point, in my pension fund. The ruling elites are in a panic about this and trying to override democracy in the process. So it goes

Patrick

 

[mercury14]

Anyone know if the markets were open today? It's hard to tell without Koala, AJ, and Vette giving constant updates.

Hell yeah we're buying. Schlumberger, Baker-Hughes, and Halliburtion are all super cheap. They have extremely good fundamentals and recession-resistant long-term contracts as far as the eye can see. They dipped in price because of market psychology far more than concrete market reasons. Aside from their near-certainty for long-term value they also churn out dividends.

Told ya'. These suckers are making me rich.

 

[mercury14]

Anyone know if the markets were open today? It's hard to tell without Koala, AJ, and Vette giving constant updates.

Hell yeah we're buying. Schlumberger, Baker-Hughes, and Halliburtion are all super cheap. They have extremely good fundamentals and recession-resistant long-term contracts as far as the eye can see. They dipped in price because of market psychology far more than concrete market reasons. Aside from their near-certainty for long-term value they also churn out dividends.

Told ya'. These suckers are making me rich.

 

[unregistered]

 

[koalabear]

Anyone know if the markets were open today? It's hard to tell without Koala, AJ, and Vette giving constant updates.





Told ya'. These suckers are making me rich.

Anyone know if the markets were open today? It's hard to tell without Koala, AJ, and Vette giving constant updates.





Told ya'. These suckers are making me rich.

Not much there when you have to split it with the voices in your head, MORON.

 

[patrick1]

I meant no personal offense, but I have been criticised here in the past for not understanding whether the British press I quoted was an always lying right wing source or an always omniscient left wing source. I just thought it was an interesting article, not being familiar with it's origin.

Oh, and I do not see how one can be libertarian and leftist at the same time, it's counter intuitive.

Thank you - about the press. I'm sorry if I was making a silly snide joke. I think the detail of the story is potentially interesting too though I loathe that particular writer.

The libertarian left has a long and honourable tradition. I'm against the State unless the need for it can be proved otherwise. While Marx himself himself was obviously authoritarian, the very idea he had of the State withering away seems to me libertarian. I'm not a Marxist either!

Patrick

 

[Sean Renaud]

Anyone know if the markets were open today? It's hard to tell without Koala, AJ, and Vette giving constant updates.





Told ya'. These suckers are making me rich.

You can't tell if the markets are closed, you can only know for sure when they are down. If they are down Koala will post an update every hour. If they are closed, positive or non-responsive then he won't reply except maybe once a day.

 

[4est_4est_Gump]

Degenerate Day Traders...

Whoops, I meant BRIBABLE degenerate day traders...

As many as a dozen members of Congress and their aides took part in insider trading based on foreknowledge of market moving information on Capitol Hill, disgraced Washington lobbyist Jack Abramoff told CNBC in an interview.

Abramoff, who was once one of the wealthiest and most powerful lobbyists in Washington before a corruption scandal sent him to federal prison for more than three years, said that many of those members of Congress bragged to him about their stock trading prowess while dining at the exclusive restaurant he owned on Pennsylvania Avenue.

But Abramoff, whose black trench coat and fedora became one of the most notorious images in recent Washington history after his fall from grace, said he didn't play the stock market himself — he considered it an inherently unfair "casino" in which the house had far more information than the players. Abramoff made most of his fortune representing — and, as it turned out, duping — Native American tribes rich with cash from casino operations.

The former lobbyist said the amounts members of Congress earned trading off their inside knowledge ranged from as little as $2,000 to, as much as "several hundred thousand dollars," that was claimed by one member of Congress.

Abramoff declined to name the members of Congress.

"It was more, 'Look at me, I'm a real great stock trader,'" Abramoff told CNBC of the congressional bragging. "All of a sudden somebody from a background maybe in law, maybe in some other unrelated business area, all of a sudden is picking winners and losers in the market."

"I was making far more money than they were," Abramoff recalled. "So I wasn't as impressed as perhaps they thought I'd be."

At the time, Abramoff, who was involved in an extensive corruption ring, didn't think much of it. But after years in prison to reflect on the culture of corruption in Washington, Abramoff says he thinks trading based on inside Congressional knowledge is wrong.

"These people should not be using whatever information they gain as public servants to benefit themselves, any more than they should be taking bribes," he said.

Generally, however, legal analysts say that Wall Street insider trading laws do not apply to Congress. As an open and public institution, the legal assumption has long been that any member of the public can have access to information about how Congress works. In practice, though, that's simply not true, as powerful members of Congress come into contact daily with market-moving tidbits. That gap between the law and the reality has made Capitol Hill a virtual free-fire zone for insider trading. Over the years, academic studies have found that members of the House of Representatives beat the market by as much as six percent per year and members of the Senate do even better than that.

And Abramoff says everybody on the inside knew it. "I think it was pretty widely known and it is pretty widely known that it is going on," he said.

Abramoff has been making the rounds, speaking with the media this week, to promote his new book, "Capitol Punishment: The Hard Truth About Washington Corruption From America's Most Notorious Lobbyist," which went on sale Monday.

Abramoff said that the most valuable type of information for Congressional insider trading is held by congressional investigators who pry deeply into corporate goings on. A particularly easy target is advance knowledge of the announcement of an investigative hearing into a company.

"Hearings under almost every circumstance are going to have a bad impact on a company," Abramoff said. "And so some staffers I've seen in the past talking about the fact that, 'Oh, I'm gonna go out and short that company.'"

http://forum.literotica.com/newreply.php?do=newreply&noquote=1&p=39130546



PS you moronic fucking clucking clowns, I don't do stock "updates" during the day. I'm just here in the morning to proclaim

OH HAPPY DAY!

We've been saved!

Obama!
Obama!
Obama!

We've crossed the miracle marker of 12K! All signs point to his reelection!

 

[4est_4est_Gump]

China, often portrayed as an unstoppable force in the media and among those who have given up on the United States, is on the verge of a major growth reversal bordering on a potential collapse.

Per the Investor's Business Daily:

The cause: China's imploding real estate market. Since late summer, Chinese home prices have tumbled, partly a result of Chinese government policies intended to keep the economy from overheating.

Barclay's Capital Research predicts China's home prices will fall 10% to 30% next year, hitting the economy hard -- and putting at risk the Chinese economy's 20-year string of 10% average GDP growth.

Much of China's growth over the past three years has been fueled by a massive pile of debt. Chinese banks have lent an astounding $8 Trillion since 2008 -- an amount that dwarfs the Eurozone's $4 Trillion in debt.

That debt binge is now abruptly ending as China begins to ratchet up interest rates and limit home buying to keep prices in line. An epic bust is coming.

There is a general consensus that by 2013 growth will average 6% or less and that by 2018 it will be just 3.5%. While that may sound terrific by current United States standards, it is a disaster for China. The reason: there is still overwhelming rural poverty (among nearly 500 million people) as millions yearly migrate to the major urban areas in search of work. Tens of millions are underemployed. And cost are rising dramatically for a rapidly aging population.

Rather than focus on bettering the standard of living for the masses, the government has spent untold billions on wasted infrastructure and manufacturing facilities. As a consequence, the household share of GDP has dropped to perilously low levels and, with it, consumption has as well.

All the while the unrest among the people, where even the middle-class standard of living has started to deteriorate, has been increasing and riots have become commonplace.

The ruling class in Beijing must maintain an annual growth rate of 8-10% in order to keep a lid on a pot destined to boil over. Unless the Chinese economy is rebalanced toward consumption, which can only be done by sharply reducing investment and credit growth, can China avoid a massive collapse. That means empowering the people and forfeiting power, something the Party faithful are loath to, and incapable of doing.

American Thinker has been among the few sites that have sounded this alarm bell over the years and admonished the people of the United States not to fall prey to unrestrained fear of China. They are an economic and potential military adversary, but they are not invincible.

Read more: http://www.americanthinker.com/blog...y_showing_signs_of_trouble.html#ixzz1dUmrjBd3

 

[4est_4est_Gump]

Shadow Labor

http://mises.org/daily/5813/Shadow-Labor

Interesting read.

 

[4est_4est_Gump]

After crises of the real economy, the financial sector and government debts, the logic of interventionism leads us to a currency crisis. The currency crisis is just unfolding before our eyes. The crisis has been partially concealed as the euro and the dollar are depreciating almost at the same pace. The currency crisis manifests itself, however, in the exchange rate to the Swiss franc or the price of gold.

When currencies collapse, price inflation usually picks up. More units of the currency must be offered to acquire goods and services. What had started with credit expansion and distortions in the real economy, then, may well end up with high price inflation rates and currency reform.

It is now easy to answer our initial question: Who is paying for the mutual bailouts of governments and banks in the eurozone? All holders of euros, via a loss of purchasing power.

Instead of allowing the market to react to credit expansion, governments increased their debts and sacrificed the value of the currencies we are using. The remedy to the distortions caused by credit expansion would have been the fast liquidation of malinvestments, banks, and governments. As the innocent users of the currencies are paying for the bailouts, it is difficult not to be a liquidationist.

http://mises.org/daily/5800/Why-Is-There-a-Euro-Crisis

 

[koalabear]

You can't tell if the markets are closed, you can only know for sure when they are down. If they are down Koala will post an update every hour. If they are closed, positive or non-responsive then he won't reply except maybe once a day.

Your flapper valve is leaking.

 

[eyer]

Last November, Government Motors' (GM) IPO debuted @ $33.00...

...it closed @ $22.51 yesterday.

http://app.quotemedia.com/quotetools/chartcache/74172.png;jsessionid=ewOJhN_LyC4_

 

[koalabear]

Last November, Government Motors' (GM) IPO debuted @ $33.00...

...it closed @ $22.51 yesterday.

http://app.quotemedia.com/quotetools/chartcache/74172.png;jsessionid=ewOJhN_LyC4_

I blame a lack of Chinese investors.

 

[RightField]

http://mises.org/daily/5800/Why-Is-There-a-Euro-Crisis

Cool. I enjoy reading the articles you find. They are very educational.