lol "astarting"
― El Tomboto, Saturday, 4 October 2008 14:35 (fifteen years ago) link
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/03/AR2008100303309.html
― El Tomboto, Saturday, 4 October 2008 14:36 (fifteen years ago) link
xpost No, you see, that would be worse.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 14:36 (fifteen years ago) link
Too little inflation was the problem, not too much, Greenspan and Bernanke insisted. Easy money and low interest rates were the answer. American consumers pinched themselves. Could they really borrow more than 100 percent of the price of a house at an unimaginably low teaser rate without so much as presenting proof of employment? Indeed, they could.
bernanke has been one of the bad kids from the beginning, he's a shitbag, and he's not cut out for the job. he's helped make it worse, and he's not got the decency to step down, nor does paulson, nor does cox, which is a good sign that they are each worthy of punitive measures, of which my preference I believe has been made clear
― El Tomboto, Saturday, 4 October 2008 14:38 (fifteen years ago) link
lol look at what's in my clipboard:
Too little inflation was the problem, not too much, Greenspan and Bernanke insisted. Easy money and low interest rates were the answer.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 14:42 (fifteen years ago) link
What I was thinking, though, was not "shitbag," but "academic." He'd be better off with his equations and computer models. Which, btw, often do what our economy is doing right now.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 14:43 (fifteen years ago) link
http://x86code.com/bsod.bmp
― El Tomboto, Saturday, 4 October 2008 14:44 (fifteen years ago) link
c on bsod?
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 14:44 (fifteen years ago) link
People predicting another great depression are ignoring the fact that this one will be way more sexy.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 14:49 (fifteen years ago) link
Taking stock for a minute here.
Thanks to the recently passed "rescue" bill, the budget for 2009 will most likely be over $1 trillion in the red!! (That, in my sober opinion, is worth more than one exclamation mark.) Unemployment is rising and will probably keep rising rapidly in the next 12 months. Consumer goods inflation in the past year has been the highest in decades. Trillions of dollars of phony asset value is disappearing from balance sheets. There is no certainty that we've seen the end of bank failures, insurance company failures and paper asset deflation. The Fed funds rate is already at 2%, with little leeway to fall further.
I am thinking the porn industry has the only viable business model left.
― Aimless, Saturday, 4 October 2008 18:32 (fifteen years ago) link
That and selling oil.
― Tracer Hand, Saturday, 4 October 2008 18:44 (fifteen years ago) link
Maybe the two could be combined?
Not so much.
http://www.wired.com/techbiz/media/news/2001/03/42061
That's from 2001 and outlines a really basic problem that is still around. When was the last time you paid to look at something wank-worthy?
And this is from July:
http://blog.wired.com/business/2008/07/turns-out-por-1.html
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 18:57 (fifteen years ago) link
Egad! Shall we be seeing sex workers selling pencils or apples on street corners?
― Aimless, Saturday, 4 October 2008 19:07 (fifteen years ago) link
Thing with porn is, the only people making any money in it nowadays are what Al Swearengen would call "specialists". ("Something ya gotta know about specialists – they pay a premium, and they never cause fuckin’ trouble. Sometimes I imagine in my declining years runnin’ a small joint in Manchester, England, catering to specialists exclusive. And to let ‘em know they’re amongst their own, maybe I’ll operate from the corner, hanging upside down like a fuckin’ bat.")
Problem is, like Abbie says on the TMI porn thread, the specialist nowadays are so desensitized that we're getting into areas of specialization that push the boundaries of "community standards" even on the internet.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 19:08 (fifteen years ago) link
Off topic, sorry, don't get me started about porn. It's fascinating and extremely problematic.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 19:09 (fifteen years ago) link
Well snarked, but how about giving them health care?
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 19:12 (fifteen years ago) link
OK. If I get some, too.
― Aimless, Saturday, 4 October 2008 19:27 (fifteen years ago) link
True enough. I'll be in that line.
― Herb Hitts, Bad Vibe magazine (kenan), Saturday, 4 October 2008 19:40 (fifteen years ago) link
Is it ok to admit that I really preferred this thread before USA Today covered it and everybody crashed our little nerd party?
― TOMBOT, Saturday, 4 October 2008 22:02 (fifteen years ago) link
Tom if you've got the most excellent phrase "into the shitbin" into the (cough) msm, isn't it worth it though?
― anatol_merklich, Saturday, 4 October 2008 22:19 (fifteen years ago) link
― Aimless, Saturday, October 4, 2008 2:32 PM (4 hours ago) Bookmark Suggest
I said this earlier and I will say it again, the McCains are in control of BOOZE, which has been around since the days of the pharaohs and is going NOWHERE. Plus, the worse things are the more people are going to want to drink. When all the gas is gone from the planet and the stock market is a thing of the past beer will be the most valuable commodity on Earth.
They know what they're doing.
― Adam Bruneau, Saturday, 4 October 2008 23:19 (fifteen years ago) link
USA Today covered this thread? link plz
― abanana, Saturday, 4 October 2008 23:23 (fifteen years ago) link
Also way to bring about demise of their Dem-voting enemies: ethanolcarowners vs winobrigade in eternal scarce-resource deathmatch!
OK, stop it stop it, this sketch is getting silly.
xpost
― anatol_merklich, Saturday, 4 October 2008 23:24 (fifteen years ago) link
the earlier thread, from 2004
How close is the US economy to collapse?
pre-USA Today
― kamerad, Sunday, 5 October 2008 22:07 (fifteen years ago) link
We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars.
UK'sTelegraph brings good cheer
― Kondratieff, Monday, 6 October 2008 03:10 (fifteen years ago) link
yeah the thread title is starting to feel entirely too parochial.
fun thing will be if/when dow jones tanks monday (on the heels of declines in asia and europe) and angry americans go "hey wtf! we bailed you out!"
― tipsy mothra, Monday, 6 October 2008 03:24 (fifteen years ago) link
― abanana, Saturday, October 4, 2008 6:23 PM (Yesterday) Bookmark
― the valves of houston (gbx), Monday, 6 October 2008 03:38 (fifteen years ago) link
...
― gabbneb, Monday, 6 October 2008 03:40 (fifteen years ago) link
he was referring to the golden age before us morons who read the first section of the newspaper and have no stock holdings stepped in
― gabbneb, Monday, 6 October 2008 03:44 (fifteen years ago) link
back when the shitbin was a trifle more prospective than descriptive
― tipsy mothra, Monday, 6 October 2008 04:26 (fifteen years ago) link
do people really have names like Ambrose Evans-Pritchard?
― kamerad, Monday, 6 October 2008 04:29 (fifteen years ago) link
i've only ever heard of e.e., wonder if they're related.
― Maria, Monday, 6 October 2008 04:38 (fifteen years ago) link
his son apparently. (and an ass, from the sound of it.)
― tipsy mothra, Monday, 6 October 2008 04:53 (fifteen years ago) link
During his time in Washington, his stories often attracted the ire of the Clinton administration, and on Evans-Pritchard's departure from Washington in 1997 a White House aide was quoted in George saying "That's another British invasion we're glad is over. The guy was nothing but a pain in the ass".
I guess being British helps explain the name. I'm kind of fond of rarely encountered saints' names, though.
― Maria, Monday, 6 October 2008 05:02 (fifteen years ago) link
http://www.guardian.co.uk/world/2008/oct/05/iceland.creditcrunch
― the valves of houston (gbx), Monday, 6 October 2008 12:54 (fifteen years ago) link
The krona, Iceland's currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan.
!!!
― Matt DC, Monday, 6 October 2008 13:07 (fifteen years ago) link
wow, i wonder when that started (or became noticeable). i was in iceland for the summer and heard nothing about it, and everything was unbelievably expensive.
― Maria, Monday, 6 October 2008 14:13 (fifteen years ago) link
Dow below 10,000 this morning.
― Eazy, Monday, 6 October 2008 14:27 (fifteen years ago) link
http://www.msnbc.msn.com/id/27045699/
― gabbneb, Monday, 6 October 2008 14:31 (fifteen years ago) link
that should make cramer's show kinda tricky. how do you go on tv for a half-hour every day and just say "sell everything now!"
― tipsy mothra, Monday, 6 October 2008 14:36 (fifteen years ago) link
won't he be telling everyone to buy next week?
― gabbneb, Monday, 6 October 2008 14:44 (fifteen years ago) link
The other time I remember him issuing a "get out now" call was in the fall of 1998 -- he goes into detail about it in his memoir. (Cramer was pretty much one of the first mainstream bloggers, don't you think?) Maybe Mad Money will merge with Antiques Roadshow. I do love the guy.
― Eazy, Monday, 6 October 2008 14:51 (fifteen years ago) link
we gonna die
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 6 October 2008 14:55 (fifteen years ago) link
Good Stiglitz piece on how we got into this mess and how to get out:
Reversal of Fortune http://www.vanityfair.com/politics/features/2008/11/stiglitz200811
― o. nate, Monday, 6 October 2008 16:42 (fifteen years ago) link
freefall... i am too scared to look at any stocks i own :(
― bnw, Monday, 6 October 2008 18:51 (fifteen years ago) link
Dow is -28% YTD, brutal
― bnw, Monday, 6 October 2008 18:52 (fifteen years ago) link
http://www.amazon.com/Dow-2008-Different-This-Time/dp/1893958701 lol
― Kramkoob (Catsupppppppppppppp dude 茄蕃), Monday, 6 October 2008 18:53 (fifteen years ago) link
how do you go on tv for a half-hour every day and just say "sell everything now!"
Kramer says: "Sell everything now"
― Chris Barrus (Elvis Telecom), Monday, 6 October 2008 19:26 (fifteen years ago) link
the This american life this week is useful and strangely comforting @ the end
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 6 October 2008 19:36 (fifteen years ago) link