Rolling US Economy Into The Shitbin Thread

nothing tells the california part of this story like the fact that arnold had to budget for cleanup efforts to prevent the stagnant water in hundreds of abandoned homes' swimming pools from becoming massive breeding vats for disease-carrying mosquitoes

when your economic stupidity boils over into a public health issue it's probably safe to say there's more than a few appointees who are comatose at the wheel

its worth mentioning that the add ons arent what got the billed passed - the gop wanted to pass this thing the whole time - they were just trying to trick the dems into doing it themselves so as to run against it
― joe six pak (ice crӕm)

uhh another request for the source

anybody check out the marketbeat summary/transcript of the con call with roubini and ritholtz? barry's calling the s&p at three figures, with a 15-1 PE ratio. and both of them basically saying as long as people keep buying on the day-after of these dow dips, you know we've got further to fall. hilarious.

and wheres the source for this please:
they had ads already bought on the day on the first vote attacking the dems for passing it

http://www.politico.com/blogs/bensmith/0908/RNC_ad_was_cut_sent_out_before_package_failed.html

hyperlink attempt failed but there

all yr source are belong to captianlorax

oh look how happy the markets are with the bailout vote! yayyy!

too many posts, hope this wasn't posted previously -- a rep from Ohio plays Wall Street Bailout

ebay 2nd career

― joe six pak (ice crӕm), Friday, October 3, 2008 3:57 PM (1 hour ago) Bookmark

I'll bet the housing boom also created a severe glut of shit like flat screen TVs and leather sofas, which were often purchased on home equity loans.

Ha!!

I love the headlines today that put this all on Bush.
There is officially nobody left who thinks this was a good idea.

I hope Paulson and Bernanke get hit by trucks and splattered all over the road.

I want to believe that Bernanke will turn out alright if we can isolate him from the bad kids somehow. He's no dummy. But, yannow, good luck.

he's no dummy? what the fuck is he, then?

a victim of the fucking peter principle?

He's an economist, and at heart, it seems. He's a statistician. Gotta serve somebody.

he's a fucking incompetent. you are on the wrong thread.

Little starbursts of light.

xxpost Though that doesn't near explain why the "stock injection" model wasn't even on the table for discussion.

you are on the wrong thread.

I just got here, hang on. Lemme read more of it and get the tone right.

No, I mean you should go start your own, on ILNFL, about how Matt Leinart should be astarting for Arizona, playoff contenders

lol "astarting"

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/03/AR2008100303309.html

xpost No, you see, that would be worse.

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

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.

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.

http://x86code.com/bsod.bmp

c on bsod?

People predicting another great depression are ignoring the fact that this one will be way more sexy.

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.

That and selling oil.

Maybe the two could be combined?

I am thinking the porn industry has the only viable business model left.

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

Egad! Shall we be seeing sex workers selling pencils or apples on street corners?

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.

Off topic, sorry, don't get me started about porn. It's fascinating and extremely problematic.

Egad! Shall we be seeing sex workers selling pencils or apples on street corners?

Well snarked, but how about giving them health care?

OK. If I get some, too.

True enough. I'll be in that line.

Is it ok to admit that I really preferred this thread before USA Today covered it and everybody crashed our little nerd party?

Tom if you've got the most excellent phrase "into the shitbin" into the (cough) msm, isn't it worth it though?

I am thinking the porn industry has the only viable business model left.

― 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.

Is it ok to admit that I really preferred this thread before USA Today covered it and everybody crashed our little nerd party?

USA Today covered this thread? link plz

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

the earlier thread, from 2004

How close is the US economy to collapse?

pre-USA Today

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

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!"

USA Today covered this thread? link plz

― abanana, Saturday, October 4, 2008 6:23 PM (Yesterday) Bookmark