Rolling US Economy Into The Shitbin Thread

so what are the best european conutries to move to, that arent facing crises

switzerland

oh nm forgot you weren't white, nowhere

lol :/

re fdr- yeah i recently read supreme power (i think as a result of a recommendation from alfred? somewhere at ilx i'm sure).

anyway, talk about wishing for someone with a humane vision and an ambitious sense of possibility. :( the contrast with now was killing me.

― what does anything meme? basically (Hunt3r), Monday, July 4, 2011 10:05 PM (1 hour ago)

still need to get around to this book ugh

switzerland, austria and germany are definite possibilities (given my line of work and that i speak German). and i'm white (and my grandma's hometown was born was part of the Austro-Hungarian Empire when she was born [even though she wasn't ethnically German]).

https://www.youtube.com/watch?v=MwKYjZ_8EcE

omfg

day traders are fucking idiots

dude that video is so fucking awesome! almost made me cry. you could see the same passion i have in the people in the video

thanks a million for sharing

jreese6969 1 month ago 7

absolutely exquisite casting

which one is captain lorax

I almost posted this to the 'friends fb status' thread the other day:

M@risa Kryst1@n
‎12 hour day done. And I'm officially a Forex trader! Time for champagne :)
18 hours ago · Like ·

I almost posted this to the 'friends fb status' thread the other day:

M@risa Kryst1@n
‎12 hour day done. And I'm officially a Forex trader! Time for champagne :)
18 hours ago · Like ·

I almost posted this to the 'friends fb status' thread the other day:

M@risa Kryst1@n
‎12 hour day done. And I'm officially a Forex trader! Time for champagne :)
18 hours ago · Like ·

weird doesn't ilx prevent you from accidentally posting the same msg?

On a law board I read occasionally it's pretty common to see threads like "What stocks can I buy to profit off the coming rise of China?" and it's just facepalm in so many ways.

we are traitors

much love to yesterday's senate resolution

(1) The Wall Street Journal reports that median pay for chief financial officers of S&P 500 companies increased 19 percent to $2,900,000 last year.

(2) Over the past 10 years, the median family income has declined by more than $2,500.

(3) Twenty percent of all income earned in the United States is earned by the top 1 percent of individuals.

(4) Over the past quarter century, four-fifths of the income gains accrued to the top 1 percent of individuals.

(5) who is up for some tapas, let's go

(6) we hereby declare that it has been a totally sweet quarter century for everyone in this room, and our fabulously powerful friends

THEY LIVE
WE SLEEP

http://ftalphaville.ft.com/blog/2011/07/15/623881/the-aaa-bubble/

gulp

"What stocks can I buy to profit off the coming rise of China?"

i do kinda wanna know the answer to this one, though...

china's economy is a house of cards fyi

so... short bidu?
there was this dude profiled in that moneyball guy's book about the financial crisis -- this guy spent all day listening to black metal and independently figured out the mortgage backed securities was a time bomb and he bet loads of money against it somehow and now is living on some black metal island paradise. i want to be that guy.

rofl @ black metal island paradise

baidu you mean?

yeah black metal island paradise = the island of greenland

anyway china's gdp is high because of all the money the government sinks into infrastructure, it artificially games the way GDP is calculated

it's pretty obvious to all who're watching the chinese economy that there's also a huge housing bubble atm

dayo when you short baidu it becomes bidu

I'm guessing you don't know very much about finance

oh shit! outed :O

if we can isolate a few chinese stocks to bet against, and if they collapse on schedule, i'll use the proceeds to pay ilx's server costs for a year and the remainder to purchase a non-genre-specific island paradise. how's that sound?

let's gather our assets and short! i have a half bottle of Sauvignon Blanc

China is brilliant about how much money they're spending towards public transportation/monorails. If I remember correctly USA is spending 1/10th that amount.

http://english.peopledaily.com.cn/90001/90776/90882/7435705.html

we're certainly not spending a lot of money on monorails

oh shit I had no idea there was an englishpeopledaily.com (adds to google reader)

search for the china daily too - there's an english edition that has perfect english but is still subject to government censorship

China is brilliant about how much money they're spending towards public transportation/monorails. If I remember correctly USA is spending 1/10th that amount.

― Muttley vs. Mumbly (CaptainLorax), Friday, July 15, 2011 11:01 PM (33 minutes ago) Bookmark

I assume you meant high speed rail?

http://en.wikipedia.org/wiki/Monorail

james fallows is all about china daily - http://www.theatlantic.com/international/archive/2010/03/redesign-fever-welcome-china-daily/36864/ - this kills me

http://cdn.theatlantic.com/static/mt/assets/jamesfallows/assets_c/2010/03/IMG_5603-thumb-550x348-22418.jpg

EXCLUSIVE http://cdn.theatlantic.com/static/mt/assets/jamesfallows/CHinaDaily1.png

english.peopledaily.com.cn somehow real funny to me

http://www.nytimes.com/2011/07/18/business/fast-traders-under-attack-defend-work.html?hp=&pagewanted=all

“High-frequency traders turned what was a very down day for many investors into a very profitable one for themselves,” said Mary Schapiro, the S.E.C. chairwoman, in a speech on the anniversary of the flash crash in May. “Their activity that day should cause us to thoroughly examine their current role.”

bunch of big swinging dicks pissed off at others for having bigger, swingier dicks

Poor Goldman Sachs, only making $1.3 billion more in profit than last year:

Goldman Sachs Disappoints With Earnings of $1.05 Billion
...
The second-quarter profit of $1.85 a share fell short of analysts’ expectations of $2.27 a share, according to Thomson Reuters. Still, it was an improvement for the period a year earlier, when Goldman posted a profit of $453 million, or 78 cents a share.

http://dealbook.nytimes.com/2011/07/19/goldman-sachs-reports-profit-of-1-05-billion/?partner=rss&emc=rss

Basic lack of money remains Americans' foremost financial concern. Even in the current job climate, 17% of Americans say the most important financial problem their family faces today is a lack of money compared with 9% who say it is unemployment or the loss of a job. The cost of healthcare takes second place as 12% say it is the most important financial problem for their family.

http://www.gallup.com/poll/148625/Lack-Money-Tops-List-Americans-Financial-Worries.aspx

Here is the formula for disaster. Cut wages. Cut them some more. Issue lots of credit cards to the people whose wages yo have cut. Issue some more credit cards and push home equity loans. Cut wages again. Repeat as necesssary to create a financial catastrophe. Pretend that the people who struggle with this are poor managers of their money and irresponsible.

Will default cause a stock crash? Should I try to talk my parents into selling their stocks before next week?

it would impact the bond market first, where investors would be far less likely to buy U.S. debt instruments. but the resulting increase in interest rates (i assume based on the fact that U.S. debt instruments become a riskier investment, requiring higher rates to entice investors) will have a ripple effect on lots of other things that are tied to the treasury's interest rates. that ripple effect would likely cripple the market, dry-up all credit, spike unemployment, and so forth. that is, of course, if the crises gets that far.

that gallup poll is kinda useless

poor people's biggest concern is 'being poor' second biggest concern is 'all the shit they can't afford'.