Rolling US Economy Into The Shitbin Thread

yo joe you can't DRINK on the subway, though - a disgraceful situation

wait now I don't know if I'm describing Boston or Philly

agreed drinking should be allowed everywhere

I don't hear the beverage industry crying to warshington for handouts!

youre sort of allowed to drink on the subway

jsut like youre sort of allowed to smell like shit and have no pants on and sleep at 2 in the afternoon sprawled out on four cars headed out to far rockaway

uh four seats

lol reed richards is a homeless person

Surely he could construct a home out of his own body?

are you hungover Tombot?

we gonna die. dow below 8000. everyone panic!

eurgh

nasdaq is down 47% this year

I would gladly trade up to "just-pissed-on" from "just-pissed-puked-shat-and-menstruated-on".

NASA has a solution.

I don't know what this means but it looks crazy.

http://www.ritholtz.com/blog/wp-content/uploads/2008/11/adj-and-req-reserves.png

haha thats my feeling about 90% of graphs i see on this thread

o no where are those lines going!

come back we need u!

i bought more berkshire

http://i37.tinypic.com/124wz79.jpg

The Dow Jones industrial average (INDU) lost 350 points or over 3% with less than 30 minutes left in the session.

The Standard & Poor's 500 (SPX) index lost 4.3% and the Nasdaq composite (COMP) lost almost 3%.

While there's no sense of panic at the moment, there's also no eagerness to step in and buy, said Tom Schrader, managing director at Stifel Nicolaus.

"The wealth destruction is phenomenal," Schrader said.

"wealth destruction!" they should call it "dream destruction" so people would realize what's really at stake here

http://i37.tinypic.com/rvityc.jpg

lolwidget

TSX 7,724.80 -9.02%

http://i33.tinypic.com/vr34g9.jpg

imagining those guys yelling SHOW ME THE MONEY at nancy pelosi cuba gooding jr style is way funnier than the original

i bought more berkshire

― bnw, Thursday, November 20, 2008 3:59 PM (51 minutes ago) Bookmark Suggest Ban Permalink

only thing abt this is warren buffet is really old

so is your mom

a dude i know on another MB compiled a list of companies that lost 80% or more in the last 12 months.

many of them wont make it but invest in the right ones and you will eventually make some $$

Ford
General Motors
Citigroup
CBS Broadcasting
Morgan Stanley
MGM Mirage
Merrill Lynch
US Steel
Alcoa
Sirius Radio
Sprint Nextel
Motorola
Expedia
Macy's
United Airlines
Reliant Energy
Abercrombie
Office Depot
Cigna
Sun Microsystems

gallows lolz but lol @ abercrombie

US Steel
Alcoa
Sprint Nextel
Expedia
MGM Mirage
Sun Microsystems
Citigroup

^^^^ I like these

guess i better use this macys gift card soon huh

OMG WE RE FOOKED

http://blogs.cfr.org/setser/2008/11/19/there-is-now-little-doubt/

Seriously, all you need is this thread. Fuck Roubini and his minions. Tombot rulez.

I think Apple's a good buy too.

ford is @ 1.39 and GM is at 2.33!

I think Apple's a good buy too.

― Dandy Don Weiner, Thursday, November 20, 2008 5:08 PM (25 minutes ago) Bookmark Suggest Ban Permalink

agreed
http://www.autolife.umd.umich.edu/Design/Gartman/D_Casestudy/ID74271_2_depression_apples.gif

alcoa ain't goin anywhere

http://tbn0.google.com/hosted/images/c?q=8f2815fac3f186b2_landing

Young boys haggling w. a vendor on the corner of Flatbush and Atlantic Aves., trading apples for his chesnuts.
Location: Brooklyn, NY, US
Date taken: October 04, 1887
Photographer: Wallace G. Levison

Obama Team Said to Explore `Prepack' Auto Bankruptcy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRfqFMhlj5lk&

This is an interesting article - argues persuasively for higher gasoline taxes in the US:

Detroit bail-out: a nation in denial
http://www.ft.com/cms/s/0/d09dfebe-b729-11dd-8e01-0000779fd18c.html

I think there should at least be a floor on prices - say $2.25

Obama told CBS News's "60 Minutes" on Nov. 16 that government aid to automakers might come in the form of a "bridge loan," advanced if the industry could draw up plan to make itself "sustainable."

See now, that's a fine word, one with a lot of non-business uses. It looks like <a href="http://www.talkingpointsmemo.com/archives/244487.php";>John Marshall</a> might be happy after all - maybe the US car industry won't move away from gas without a gun to their head, but if you've got a gun, and you've got their head...

I think that a price floor would be a good start, and might be more politically palatable than an outright tax increase. Over time the floor could rise. It's interesting to me that democracies in Europe can somehow maintain political support for gas taxes that appear politically impossible in the US. I guess it has something to do with America's historical love affair with cars - but don't Germans love their cars too?

Comparison of gas prices in some European countries and US, going back to '96:

http://www.eia.doe.gov/emeu/international/gas1.html

I think it's more to do with Americans seeing any kind of tax as somehow illegitimate.

I guess so, but there hasn't been any hue and cry over punitive cigarette taxes, for instance. Maybe it just requires convincing Americans that there is a moral issue involve (ie., What Would Jesus Drive?)

okay this is a very late comment but you could not convince me to put even a penny into Expedia

The average car in the United States travels 50 percent more per year than a car in Germany

I don't understand how we went from "no taxation without representation" to "no taxation". I kind of want to tell all these no taxes people to form their own damn country and see how far it gets without taxes.

smoking is not a practical necessity, and fewer than 1 in 4 americans do it

and most recognize it isn't good for them

smoking is not a practical necessity, and fewer than 1 in 4 americans do it

Ding ding ding. There's a big difference between asking Americans to make a personal sacrifice, and asking them to help tax their fellow citizens into better behavior. The trick might be crafting a tax that only targets the worst offenders - like young, single people who drive Hummers - but leaves alone the family of 7 that needs a Suburban to transport their brood to church on Sunday.