RSS available
| MarketTicker Forums Read Message in Ticker |
User: Not logged on
|
| Top | Forum Top | Login | Control Panel | FAQ | Register | Logout |
| User Info | BOHICA - "Its Worth Far More Than We Paid" in forum [Ticker] | |||
|
Genesis Posts: 66463 Incept: 2007-06-26 
Royal Flush! 
|
http://market-ticker.denninger.net/archi....
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 09:31:02
| |||
|
Mondocondo Posts: 3071 Incept: 2007-12-03 
Miami
|
Great ticker as always. Here's the link to the Dimon statement. http://www.cnbc.com/id/25211297 I posted the story in Breaking yesterday. http://www.tickerforum.org/cgi-ticker/ak.... 2008-06-18 09:42:38
| |||
|
Emb145 Posts: 8182 Incept: 2007-08-25
Orlando, Florida
|
I'm ****ing moving to Fiji and live in a grass hut. The whole country is a ****ing racket.
---------- It's the age of hobos: Prepare to teach your children how to grift. 2008-06-18 10:16:48
| |||
|
Bear Posts: 6466 Incept: 2007-07-10
SoCal, and my avatar is so ****ing small you cant see it
|
But what then of your farm and chickens Emb ? I'll take the tractor though ! ...Fiji is nice 
---------- Cause GS got all the beef.....Mliu 2008-06-18 10:19:00
| |||
|
Lionzzzz Posts: 962 Incept: 2007-06-27 
Columbus OH
|
5 minutes to midnight? You are being generous, I think. How about 2 minutes to midnight? I need to go dig out that old Iron Maiden.
2008-06-18 10:25:13
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
My clock ticks fast.
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 10:25:31
| |||
|
R2judge Posts: 251 Incept: 2008-04-13
Burbank CA
|
Was Ben lying? In a word, yes. I work in TV post production, not finance, and i knew it was a bubble and that it would burst and deflate. The median house went from 150,000 to over 500,000 in 10 years. I knew that Zero down interest only negatively amortized, was a disaster in the making. why? common sense. I knew Greenspan was lying when he said the housing market was nothng more than frothy. The priamry requisite to become FED chairman appears to be that of being able to lie with a straight face. 2008-06-18 10:26:20
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
Probably, but the real travesty is that we the people are sitting on our ass and allowing the free shots at our *******s. We have nobody to blame but ourselves; its only **** if you say "no". ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 10:28:01
| |||
|
Locosuerte Posts: 45 Incept: 2007-06-26
|
R2 and Karl: Look carefully at what Ben said. It was misleading because when you read it as a whole, it looks like he's saying that houses were not overpriced in 2005, or that there wasn't a bubble, or that there's nothing to worry about. But when you look at each individual sentence, each one is either true or dabatable, but not clearly false. In fact many of his statements I'm sure you agree with. Below is the quote from the Ticker with my comments in CAPS "House prices have risen by nearly 25 percent over the past two years [TRUE]. Although speculative activity has increased in some areas[VERY TRUE], at a national level these price increases largely reflect strong economic fundamentals[HIGHLY DEBATABLE, BUT FUNDAMENTALS IN OCT 2005 CERTAINLY BETTER THAN NOW], including robust growth in jobs and incomes[DEBATABLE], low mortgage rates[VERY TRUE-IT'S WHAT LED TO THE BUBBLE], steady rates of household formation[TRUE], and factors that limit the expansion of housing supply in some areas[TRUE IN SOME AREAS]. House prices are unlikely to continue rising at current rates[TRUE-THIS COULD MEAN ANYTHING FROM CONTINUED RISE TO PLUNGE, HE DOESN'T SAY]. However, as reflected in many private-sector forecasts such as the Blue Chip forecast mentioned earlier, a moderate cooling in the housing market, should one occur[BEN DOESN'T SAY A COOLING WILL OR WON'T OCCUR], would not be inconsistent with the economy continuing to grow at or near its potential next year[THIS MEANS HOUSING MAY COOL EVEN IF ECONOMIC ACTIVITY CONTINUED AT 2005 PACE]." In short, I think Ben's Harvard degree is reflected in the message. He has mastered the art of using truths or near-truths to deliver a message that everything is ok. That's his job. This is consistent with the doublespeak of the politicians in both parties, who use such techniques on a daily basis. Don't get me wrong, Mr. Bernanke may have been trying to mislead (I don't know), but he didn't do it with lies. 2008-06-18 12:17:49
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
Sure he did. There were no strong economic fundamentals. An intentionally blown credit bubble is not a "strong economic environment". Its a fraudulent one. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 12:19:17
| |||
|
Locosuerte Posts: 45 Incept: 2007-06-26
|
Karl: That's what I said, economic fundamentals weren't strong then, but stronger than now. Robust job growth and income growth also wasn't there, but Ben could rely on plenty of reports to "debate" otherwise. His message was misleading, because we know that he knew (or should have known) that we were in big trouble. But his job is to be a cheer leader for the economy. Most people on this forum see through this, but you have to be careful when you call someone a liar that the statements really were lies. 2008-06-18 12:26:26
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
If your job is to be a cheerleader and you don't disclose that you're cheerleading, then you're lying. Intentional deception is the same thing as lying, but if it makes you feel better the synonym is fine with me. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 12:30:23
| |||
|
Leraconteur Posts: 7189 Incept: 2007-12-03
|
"If your job is to be a cheerleader and you don't disclose that you're cheerleading, then you're lying. Intentional deception is the same thing as lying, but if it makes you feel better the synonym is fine with me." You share a value I picked up from my Midwestern parents. i.e.: Lack of disclosure is lying. Unfortunately I know that many do not share that attitude, and do not consider partial disclosure as a lie. I call it 'lying by omission'. 2008-06-18 12:38:37
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
Lying by omission is still lying. If BenDover Bernanke wants to sue me, he's welcome to do it. The standard of proof for a public figure is actual knowledge of falsity and actual malice. Well, the malice part is simple - I think he's an assclown and have said so. I'll take the case on the housing bubble to a jury any day - may I get 12 people who got foreclosed on  ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me Last modified:
2008-06-18 12:42:22 by genesis
| |||
|
Txdomer Posts: 934 Incept: 2007-11-07
Locke'd and loaded.
|
What are the Fed's mandates? Control inflation and maintain full employment? I think "maintain full employment" is interpreted by CONgress as to never have a recession, and therefore we have to have a succession of bubbles until it comes crashing down. I think the Fed chief essentially has to lie, to keep the game going as long as they can. Why an intelligent and ethical person would want to be in that position is beyond me, so it's not surprising that we get what we get. In other words, the behvior is implicit in the position, so the position gets filled by someone who will behave as necessary. The Fed needs to be abolished, or they should only be asked to control inflation, like the ECB (in theory). ---------- "Economics is not practiced as a science. Rather, it is a pretentious way to covertly promote political prejudices." - Fred Harrison http://renegadeeconomist.com 2008-06-18 13:31:57
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
The dual mandate cannot be met under market conditions when its most important to be straight up with people, and that IS a problem. ---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 13:33:52
| |||
|
Txdomer Posts: 934 Incept: 2007-11-07
Locke'd and loaded.
|
BTW, Karl, I love your concept of a financial doomsday clock.
---------- "Economics is not practiced as a science. Rather, it is a pretentious way to covertly promote political prejudices." - Fred Harrison http://renegadeeconomist.com 2008-06-18 13:45:01
| |||
|
Prhyme Posts: 176 Incept: 2007-06-26
Chicago, IL
|
Wow man! back to back Ticker american ass whoopings?! freaking awesome man, the way you provide all the relevant news and economic data concisely and directly. followed you since winter 2006, and have fond memories of your Ticker's when this credit monster first reared its with with HSBC in Feb of 07! your stuff is awesome man! your analogies are brilliant! Quote:One final thought - you can't **** the willing. If you consent, whether by overt act or silence, then the financial boning you're taking isn't **** - its consensual sex. i hate that you're right KD. america's funking (sic) screwed and time is running out :( ---------- "At what point shall we expect the approach of danger? By what means shall we fortify ourselves against it? Shall we expect some transatlantic military giant to cross the ocean and crush us at a blow? Never! All the armies of Europe, Asia and Africa combined, could never by force take a drink from the Ohio, or make a t 2008-06-18 14:02:52
| |||
|
Bluntfacts Posts: 693 Incept: 2007-10-09 Las Vegas, Nevada
|
Now this is a great way to start the day: read the Ticker at 1:30PM local time. But I guess I am kind of shocked that the Fifth Third beating got no mention. I guess its a case of just another bank slowly going broke. ---------- "Will someone come on TV and tell the truth about how bad it is". Jim Cramer August 2007. "We can change the focus to a soft blur; or sharpen it to crystal clarity" The Outer Limits 1964. 2008-06-18 16:28:19
| |||
|
Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
|
There are so many.... did you look at BKUNA today?
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-18 16:35:04
| |||
|
Bw8472 Posts: 6446 Incept: 2007-06-28
|
**** being sued, and **** people worrying about people in black helicopters or being audited by the IRS. I agree with KD when he went off on a rant about that. When I complained all day yesterday to all my CONgressmen I spelled out my name and address for each and every one. I'm not saying it's not possible I'll get it in the bunghole, it's possible but I'm getting it one way or another so I'm going down fighting instead of lubing up. ---------- At what point then is the approach of danger to be expected? I answer, if it ever reach us, it must spring up amongst us. It cannot come from abroad. If destruction be our lot, we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide. ~Abraham Lincoln 2008-06-18 17:14:16
| |||
|
Thebest696969 Posts: 199 Incept: 2007-06-28 steamboat springs, colorado
|
Najarian noted today 24,000 July 10 puts traded on RF, OI was 750. Still meat on that bone. ---------- "...time is the fire in which we burn" Delmore Schwartz 2008-06-18 20:54:24
| |||
|
Broncs453 Posts: 19 Incept: 2007-09-01
|
Berpanky is a FUKKING IDIOT. That jew scumbag (sorry self-respecting jews) has royally fukked us. He deserves a public stringing up.
---------- "Life is hard. It's harder if you're stupid." - John Wayne 2008-06-18 21:53:37
| |||
|
Spiritoftruth Posts: 570 Incept: 2008-02-25 New England Suspended
|
Great ticker! Here's an excellent related piece: http://www.webofdebt.com/articles/bankin.... ---------- “This is a revolution, damn it! We have to offend somebody!” - John Adams “All that is necessary for the triumph of evil is for good men to do nothing.” - Edmund Burke “Even if you are a minority of one, the truth is the truth.” - Mohandas Gandhi “Whatever is coweree up will be uncovered and every secret will 2008-06-18 22:08:07
| |||
|
Bluntfacts Posts: 693 Incept: 2007-10-09 Las Vegas, Nevada
|
Thebest Well said... People laughed at me when I told them NCC could go to $5. Well it did. RF and KEY and FITB could do the same thing. I can't guarantee it, but since its still America, I can bet on it. I hope ALL readers appreciate that we are experiencing the greatest fraud in the history of this country. Most of the actual fraud has ceased, but the lingering effects just keep showing up in the news. I am laughing right now, but I actually wonder what news will be next. ---------- "Will someone come on TV and tell the truth about how bad it is". Jim Cramer August 2007. "We can change the focus to a soft blur; or sharpen it to crystal clarity" The Outer Limits 1964. 2008-06-19 05:16:40
| |||
| Top | Forum Top | Login | Control Panel | Logout |