Rolling US Economy Into The Shitbin Thread

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!"

won't he be telling everyone to buy next week?

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.

we gonna die

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

freefall... i am too scared to look at any stocks i own :(

Dow is -28% YTD, brutal

http://www.amazon.com/Dow-2008-Different-This-Time/dp/1893958701 lol

how do you go on tv for a half-hour every day and just say "sell everything now!"

Kramer says: "Sell everything now"

the This american life this week is useful and strangely comforting @ the end

I haven't listened to that yet, but does it include bits of this interview?

http://www.npr.org/blogs/money/2008/10/hear_wamu_banker_bares_soul.html

Because I thought that was excellent. No so much "soul-baring" as just clear and informative. And pants-shittingly scary.

i don't think so -- it's like the big pool of money episode two months ago.

...and i dodn't recall WaMu getting mentioned. I listened to it twice

Oh. Well, that's a good interview, for real.

“Whatever money you may need for the next five years, please take it out of the stock market right now"

well, at least I don't need my 401k for another 20, right? right?

How can you tell how much money you need for the next 5 years, given the unpredictability of inflation rates?

Wait, in the past month or so Kramer has been absolutely dead wrong. Maybe this is good news for the economy?

haha have you only been paying attention to kramer for a month, then?

we gonna die fyi

I don't mind dying. I just don't want to suffer first.

everybody needs to read that stiglitz piece actually

Yep. Good read.

http://www.longbets.org/

Aus 1% rate cut!

Next couple of weeks to see 'emergency' rate cuts everywhere else? Hope not

On my way home yesterday I happened to spy an estate agent on tooting broadway with 2 hummer H2s parked outside, I hope the owners are living in cardboard boxes by Christmas,.

Emergency rate cuts will do diddly squat without an increase in the money supply real interest rates have sky-rocketed. Business lines of dredit (overdrafts and the like) from the major clearing banks have gone from a couple of percentage points above base to 10 points above base in many cases.

I don't suggest such moves would be successful. Lets not presume competence here

anyway, this money printing scheme will have more effects on the money supply and rates

http://www.nytimes.com/2008/10/07/business/07markets.html?hp

looooooooool

http://cache.gawker.com/assets/images/consumerist/2008/10/economistohfuck.jpg

oh; it's not real

less lol

lol

Economist would never use Verdana Bold.

^ good eye

also no life.

What the hell does: "Bush pledges "we're going to come" this economic crisis."
http://www.cnn.com/

What the hell does... it mean??

it was changed to overcome in the last 16 seconds dudes

Ha, they fixed it to "overcome"

Seconds count.

Hahah, what was that Chris Morris bit where he cut up the 'we're invading Iraq' State of the Union address to 'every soldier will come'

anyone read Fukayama in Newsweek?

And while fewer non-Americans are likely to listen to our advice, many would still benefit from emulating certain aspects of the Reagan model. Not, certainly, financial-market deregulation. But in continental Europe, workers are still treated to long vacations, short working weeks, job guarantees and a host of other benefits that weaken their productivity and will not be financially sustainable.

Fuck you, fukayama.

If we all club together I reckon we can buy Iceland.

0.5% interest rate cut by the Feb ECB and BoE

american workers live a curiously dogged and unliberating life - two weeks for vacation means one week spent with family at christmas and then - if you take no random days off the rest of the year - one week for some kind of other vacation. that's not enough time to recharge, not enough time to rest, not enough time to see anything

kondriateff is going to say that's a huge mistake but - why?

(re: rate cut i mean)

Yeah really how much vacation does Francis Fuckyamama get?

Is it getting cheaper to holiday in Iceland?