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| User Info | The Market Kills The Bezzle in forum [Ticker] | |||
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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/855-Th....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-06 11:03:23
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Mtgspy Posts: 6121 Incept: 2007-10-27 
Online
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I would have never guessed that the USA will be cited in history books one day as a country that experiences a collapse by protecting a small group of dictator criminals.
---------- It sounds antiquated, merchantilistic - until you figured out that I was hoarding for war.
2009-03-06 11:12:12
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Bear Posts: 6649 Incept: 2007-07-10 
SoCal, and my avatar is so ****ing small you cant see it
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It doesnt belong to Obama, its still Dubya's mess....He is just going to make sure it stays with him....everything is going according to plan I believe, in fact, theyre brushing and shampooing Obama white stallion that he's going to ride in on right now....right after we get this crash out of the way
---------- Cause GS got all the beef.....Mliu
2009-03-06 11:13:31
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Equalitarian Posts: 38 Incept: 2009-01-20
SW Ohio
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I believe that this will ultimately be worse than 1930's or especially the 1870's because everyone is so much further removed from self-sufficiency. In the 1870's and to a lesser degree in the 1930's, a lot more people knew how to farm, hunt, sew, etc. They did not rely on prepared frozen meals or restaurants as their primary source of food. They walked or travelled by horse and for much shorter distances than many of today's daily commutes. Many did not have the "luxuries" of indoor plumbing and the "convenience" of electrical appliances. What happens in our cities and towns when the basic utilities (gas, electric, water, sewage, trash pick-up) are interrupted?
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2009-03-06 11:20:52 by equalitarian
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Bear, that's not how it will work out. Clinton thought the same thing. The bond market schooled him - severely. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-06 11:17:47
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Aliveh Posts: 2610 Incept: 2008-01-18
Los Angeles Online
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Typo alert 3.6% not 36% from the top today.
2009-03-06 11:21:07
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Mezzmor Posts: 507 Incept: 2008-10-09
Orlando, FL
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Let's make something clear here. THIS BELONGS TO OBAMA. He has had ample time to issue executive orders, and for the FBI to start rolling on those orders and issue indictments. He has had ample time to kill the OTC CDS market and get that garbage placed on an exchange with valid restrictions, again by executive fiat. He has 5 or 6 cabinet placements that are crooks that we know of. He tossed in another 750 billion bucks for banks in his new budget. The troop drawdown in Iraq won't begin until next summer at least. No matter how badly Bush and his cronies screwed over the country, Obama has had ample time to work on the turnaround. I was recently promoted at my job to fix another manager's mess. I had to fire that manager, clean house, lay down rules, and furthermore, meet with the employees left in the department, lay out a carefully thought out plan of action to the employees, sell them on my concepts, then give the CEO my plans along with a timeline and a way to monitor progress. This is management 101 and it is apparent that for the most part, zero point zero of these people (aside from maybe Emmanuel) are skilled enough to manage a flea market booth.
2009-03-06 11:34:22
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Themortgagedude Posts: 3930 Incept: 2007-12-17
saint louis
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History will pin this on Bush. He's too easy of a mark. And academics are generally liberally biased. If its still bad in 8 years maybe they'll pin the inability to recover on BHO. We'll know the truth though. BHO did not do the right thing. He should have collapsed the market immediately by taking all the crap out of the system and sent them packing. We would have crashed and recovered slightly already. If he continues to kick the can - well God help us.
---------- "These are interesting times. We don't trust the government, we don't trust the legal system, we don't trust the media, and we don't trust each other! We've undermined all authority, and with it, the basis for replacing it! It's like a six-year-old's dream come true!"
2009-03-06 11:39:26
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1lumpsum Posts: 1733 Incept: 2008-02-01
Nashville Online
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History may be writing that blames this on the "Evil Capitalists" or "Evil Zionists". Depending on what part of the world you live in.
2009-03-06 11:47:55
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Parcontre Posts: 200 Incept: 2007-12-02
Fort Worth
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Obama inherited a mess, but he has made it a lot worse. I was buying January SPX calls in Decembre and into January expecting a big rally. I'm bearish longer term, but I figured we were due for a bounce, and a new president should be a confidence booster. Plus McHugh was calling for a C wave up before the big crash. But he killed any hope of a rally, first with his "stimulus," and then with his budget, and all the while failing to stop the bailouts or establish any transparency. The bottom line, regardless of what the media says, this year's selloff is all Obama's. ---------- Wherever fate my vessel steers, that image never disappears. In times of joy and times of tears, her song still echoes in my ears.
2009-03-06 12:37:43
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Anti Posts: 1289 Incept: 2007-10-09
Online
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nice work Mezzmor. BHO appears to think all that is need is to look good and sound articulate typo:"that a reply of at least the 1930s " you meant "repeat" right? "bar wood" -- bare wood? ---------- Health is better than health insurance http://gerson.org/ Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis.
2009-03-06 12:52:32
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Fatso Posts: 1764 Incept: 2008-02-03
Roll on up, gonna roll back down
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I think Obama neither understands nor cares what the market does. The question is: when will he understand? Because a moment will arrive when he understands. That moment will be incredible. ---------- The most defining theme, and overriding purpose, of the U.S. Constitution is to limit the power of the federal government. Over that, there can be no historical, or textual, debate. - Tickerfan
2009-03-06 14:14:27
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Trader_kid Posts: 4012 Incept: 2007-09-27
You sounded a little taller on radio
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Quote:History will pin this on Bush. He's too easy of a mark. Quote:History may be writing that blames this on the "Evil Capitalists" or "Evil Zionists". yeah, ultimately i think the blame will be pinned on "deregulation" or "wild west capitalism." it's easier to pin that kind of thing on bush and republicans. any failure by obama could be spun as some sort of "valiant effort" that was just too little too late. ---------- "People have predicted the end of America in the past and been wrong. But let's face it: If you're trying to borrow $9 trillion to save your financial system, and already half your public debt held by foreigners, it's not really the conduct of rising empires, is it?" - Niall Ferguson
2009-03-06 14:55:53
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Bozonian Posts: 14033 Incept: 2007-09-01
PFT - Pure F'n Tin
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The Bezzle will out out, and some necks will come off.
---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
2009-03-06 14:55:56
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Dkane Posts: 2982 Incept: 2007-07-28
If it moves TAX IT!
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Finally I found what KD is referring to as "The Bezzle" as I couldn't find a direct explanation of this in previous tickers - only reference to it. http://dealbook.blogs.nytimes.com/2008/1.... Quote:First come the losses and the stupidities committed by bankers working for their own self-interest. Then come the rogue traders, unable to ‘fess up on market bets gone wrong. The last to arrive is the bezzle. ---------- What if everything you ever believed was a fabricated lie? Copy, paste and bookmark for a rainy day - 2 hours. http://video.google.com/videoplay?docid=-594683847743189197 The Addendum (2-hours) Released October 2, 2008 http://video.google.com/videoplay?docid=7065205277695921912
2009-03-06 14:58:15
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Risingcream Posts: 2547 Incept: 2007-09-07
Online
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I still think the rich can control the poor. The USA will continue on South Africa style with the poor eating their own.
---------- Civilization...ancient and wicked. --Subotai The trees in Siberia are miles apart, that is why the dogs are so fast. -- Bob Hope
2009-03-06 15:07:41
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East2west Posts: 220 Incept: 2009-03-03
California
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The events this week are pitiful. For a president of the United States to stand up, in the middle of an historic economic downturn, and tell the world that he "isn't concerned" with the stock market because it just goes "up and down" is an incredible act of incompetence. As Karl says, Obama OWNS what's happened since he took office. The "we inherited this" line only goes so far when you are throwing gasoline into the fire. I'm not letting Bush off the hook, or all of the other crooks that have or are sitting in Congress, while letting their "campaign donors" get away fraud and corruption, but we are reaching a new level of shame here, in my opinion. This is just more of the same dangerous crapola we've been getting for the past eight years, tied up with a pretty new bow. It just gets worse and worse, and the worst part is no one in D.C. seems particularly concerned. No, scratch that. The worst part is that so few people in America seem particularly concerned. I am deeply saddened by what is happening to our country -- and I'm not talking just about the markets. This is a day I never thought I'd see. I am heartbroken.
2009-03-06 15:24:58
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Mtgspy Posts: 6121 Incept: 2007-10-27
Online
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Karl, did you buy physical Au recently?
---------- It sounds antiquated, merchantilistic - until you figured out that I was hoarding for war.
2009-03-06 15:27:42
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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No.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-06 15:28:34
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Mtgspy Posts: 6121 Incept: 2007-10-27
Online
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ok, let us know when you are. I read somewhere someone said u did buy a gob load but i guess that was not right.
---------- It sounds antiquated, merchantilistic - until you figured out that I was hoarding for war.
2009-03-06 15:37:25
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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You didn't hear it from me.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-06 15:37:48
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Widgeon Posts: 6527 Incept: 2007-08-30
OK Online
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There IS plenty here that is Dumbya's. However, as The Ticker states, "O" has now had plenty of time to Act by issuing EO's and the like to address the fraud. He Has Not ... and as The Ticker ALSO says he has persisted in appointing and supporting the very same career politicians and cheats that got us here. No Change.
2009-03-06 15:39:26
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Provocateur Posts: 540 Incept: 2007-09-06
Melbourne, Australia
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Excellent ticker and an excellent follow up by Mezzmor.
2009-03-06 15:42:09
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Schwantz Posts: 5077 Incept: 2007-11-12
Monkey Do
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I bought some gold a few days ago, but that was to cover my short! 
---------- Dives sum, si non reddo eis quibus debeo Smash the Keynesian idiocracy!
2009-03-06 16:08:36
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Torgo Posts: 389 Incept: 2009-01-14
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Obama had 3 months to get his cabinet together and treasury properly staffed with non-crooks. Instead he spent the time partying, eating wagyu beef and flying in Hollywood to entertain his daughters. I guess he had a fiscal & health care summit. What a joke those were; it looked like something a bad college professor would have undergrads do (go off in focus groups and report back to me and the end of the day...WTF?). Oh...and Obama won't have Hillary's problem with health care reform. They are just appropriating money ($680B) as a general budget item (i.e. it is a huge slush fund). Their first step is setting up 250 health care centers to get people used to "free" health care and drive private practice out of business.
2009-03-06 16:41:30
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