Mornin’, Attaturk -

Yes, but of course, IAGFR.

Picture says it all….stock markets go in the can and “It’s good for republicans.”

Ah, wigwam – if I’ve seen that one, didn’t know what it was but now abundantly clear.

Gotta theory ’bout the non-story economic news: Now the MSM can spread it across every news spew in the country and say, “See, this is NEW news and since you haven’t heard about it before, it can’t be shrub’s fault. because dims have been in charge of the legislation for a year now and they ain’t done a d*mn thing about it.”

I’m sure glad I spent all my money on booze and cheap women. I would be pissed if I had wasted it.

Looks like Bush will leave office with the DOW lower than when he came in. All that bragging about how the Bush tax cuts have caused such a strong economy is as believable as Cheney’s recording of Kumbaya hitting the top of the charts.

From a bankrupt ideology selling bankrupt economic hocus-pocus, to subjects of ignorance, bred in smoke and mirror, schooled in disfunction, matured in mysticism, and unrestrained by knowledge, what outcome do you expect – success?

Menzie Chinn (thanks naked capitalism blog) applies some deep thought to Bush’s proposed one-percent-of-GDP stimulus package. Why that percent, and not more, or less? First, the reasons he proposes:

So, if the economy softens even more than it has, one could certainly contemplate more tax cuts and government transfers and expenditures. But I think one has to carefully consider (1) how much more Treasuries the rest-of-the-world will want to purchase, given their bloated stocks of Treasury securities (2) and at what interest rate, and relatedly (3) how many more dollar assets (both private and government) they want at current yield/default risk characteristics, especially given likely trends in the dollar’s value in the next few quarters. (See Brad Setser on what it takes to get continued financing)

You’ll just never guess what the reasons behind the reasons are. Hint: it has to do with policies that have done nothing for the economy as a whole. A person could get really angry, considering how obvious this all was, but it’s probably better to get to work trying to change the policymakers.

Just about covers it….and nicely phrased as well.

my edit:

…knowledge, untempered by wisdom, …

Arnie, #8 was meant for you; insufficient sleep at this end of the toobz. ;-)

Muchas gracias, It is nearly noon here, the result – bright eyed, bush bedraggled

No fair, you got a head start. *g*

Where’s noon?

rut ro

Am living in Europe since ‘94, on central European time in Spain. But you get all the good posts to respond to while sleep reigns here. *g*

Must be interesting viewing the goings-on over here from that end of the ’scope. Haven’t been in Europe/England for several years now and, given the situation with air travel these days, not sure I’ll ever get back again. :-(

Wrt the “good posts”, there’s always a silver lining buried somewhere….tho’ Dog knows, it’s gettin’ harder and harder to find these days.

Goin’ off grid for a few days…with potential bad road conditions breathin’ down my neck. Hold the faith, hang tough and don’t let the bastids get ya down, firepups.

*poof*

I have all my money in soybeans.

Not soybean futures. Big sacks of soybeans. Tomorrow, I buy rice.

I treasure the perspective, makes being ex-pat bearable. However appreciation of Cassandra’s curse (the mythologic Cassandra) is a necessity when trying to communicate/warn.

I do not expect to return to the states, as you indicate, travel is rapidly becoming an option, particularly dangerous for those who don’t suffer fools (life is way too short for that).

You all have a treasure with Ian, Siun, and the missing Kathleen posting and commenting here (That is not excluding all the others, but they bring a more universal perspective to their observations). I would certainly be poorer without all here. It is also the best place ti obtain US news with all the links provided.

All the best…..

edit:
… rapidly becoming not an option, …

I sure am glad I invested all my money in walnuts and fudge:

Hi Attaturk. I wish I had known about nuts. I invested a lot in fudge and champagne to go with it when my stocks were soaring. The champagne has now gone and the remaining fudge is sort of goopy. I guess I should have noted that nuts were on the rise a few years ago but frankly I was a little whacked out on champers and chocolate.

Good morning, pups. It’s Bobo and Herbert today. Bobo says a funny thing has happened this primary season — conservative voters have not followed their conservative leaders. Jeez — maybe they’re a wee bit smarter than I’ve been giving them credit for… Nah. Bobo says the Republicans have a shot at winning if St. McCain of Iraq gets the nomination. Mr. Herbert says the South Carolina is a disturbing example of how difficult it is for people of good will to dispose of toxic layers of bigotry.

http://mgpaquin.wordpress.com/

The coffee, tea and hot chocolate are ready, and I’ve got a selection of bagels and cream cheeses. I’m not looking forward to seeing what the market is going to do today. Not at all. Protect yourselves if you can, and have a good day.

most middle class dolars have been out of the stock market for some time

in addition, most american companies in the dow use foreign labor and supplies

as far as I can see the stock market is no longer any indicator what so ever of state of economic importance in the states

we are rooting for the wealthy to get wealthier there is no longer love lost from me when the stock market declines

BBC has this which shows your government in action. The EU is NOT going to allow genetically modified organisms or their products into this market, their populations will not allow it, trying to push it is barking up a dead tree. Already the EU is a larger and richer market than the US, even with Mexico and Canada theoretically included (NAU and amero) and is able to enforce their decision to adhere to carbon reduction schemes. The US would be well advised to pick their battles with care, it is not unheard of that the US looses. This behavior by a US representative does little to increase the respect the administration has bequeathed the country, if you know what I’m saying.

When the stock market declines it affects folks like my parents who have a lot of their money (my inheritance!)in managed funds. (It’s not like I expect to see the money anytime soon – both of my grandmothers lived to be over 100.)

Arnie, when I have a choice I buy EU products. They are safer than stuff made in the US or China.

sorry gnome and I agree,there are still middle class people in the market

my parents as well as yours

I agree with your point

I’m middle class and my 401k and IRA are completely dependent on the market.

Good morning everyone.

Equally bad, most pension funds are invested in equity markets. For better or worse, a whole lot of people stand to be impacted by large and extended market declines.

That is the saddest part of the economic scheme, there is no place to put and safe-keep one’s savings which is nothing more than un-consumed income. Traditional havens, banks and Saving & Loans have been taxed on returns that have been meaningless given “inflation”. The stock market was the only institution “offering” returns keeping abreast or over inflation. That offer was no more than a speculative sham/scam, divesting all who followed the siren call of “market/enterprise” of their savings. There was a wag who maintained that doG created war to teach Americans geography. The current enterprise of the markets may be created by doG to teach Americans economics.

I agree about the products being safer, trouble is, what they cost in dollars is subject to the moneychangers in the temples of commerce.

Hi pups!

Here’s what’s on
WASHINGTON JOURNAL
Tuesday, Jan. 22
7am – Newspaper Articles & Phones
7:30am – Hastings Wyman, Southern Political Report, Editor
8am – Steven Preston, Small Business Administration, Administrator
8:30am – Kim Gandy, National Organization for Women, President & Susan Muskett, National Right to Life Committee, Congressional Liaison
9:30am – Newspaper Articles & Phones

I stand corrected marion

sorry about your 401k

but think about this, when our 401’s are invested in companies that export labor, we are betting against ourselves and we are encouraging the pillaging of our working class

it might be a good idea for 401’s to be companies based in America and having the majority of their product produced here

that might present a lower return since corporations that produce overseas are more profitable…but that profit is at the expense of our workforce and our own economy

might be a good platform, if we want tax deferments for our 401’s they should be american based companies that are invested

perhaps provide a blend, say 80% american based and 20% optional overseas, anything less then 80% would loose their tax deferments

something like that I think is an excellant idea

Well Bush should have plenty of money when he gets to Paraguay. I’m sure Haliburton will see to that. I’ve started putting my money in the European markets. Not sure how much this will help but fudge seem a little sticky in high humidity of MSM.

What little un-consumed income I had was in the area I know best – real estate. Fortunately we sold off everything but the house we live in at just the right time. I took that money and bought tulips. Actually orchids. *g* I am off to start the first day of the World Orchid Conference in Miami with the judges’ breakfast. See you all later tonight.

And at ten CSPAN’s covering a Senate Hearing on economic stimulus plans. You know we’re in trouble when they start talking about economic stimulus plans.

“Peter Orszag, Dir. of the Congressional Budget Office, presents a CBO report on the need for stimulating the economy. He appears before the Sen. Finance Cmte., chaired by Sen. Max Baucus (D-MT). This is the first in a series of hearings on measures to kick-start the economy.”

it might be a good idea for 401’s to be companies based in America and having the majority of their product produced here

I’m sure. However most companies, like mine, offer a limited spectrum of funds to choose from and don’t offer the option of a completely self-managed 401k. Even if they did, I’m working 2 jobs and don’t have either the time or the knowledge of finance to do that. So most of us just hang in there and pray.

What little un-consumed income I had was in the area I know best – real estate. Fortunately we sold off everything but the house we live in at just the right time. I took that money and bought tulips. Actually orchids. *g* I am off to start the first day of the World Orchid Conference in Miami with the judges’ breakfast. See you all later tonight.

I hope we get a beautiful report when you return! Sorry you’ll have to spend so much time figuring out which is the most beautiful of the orchids, handing out blue ribbons must be a drag!

I’m not talking about current investments marion, I’m talking about future regulations;

if there are tax deferments for investments those investments should be limited to united states companies

I think that’s fair for a regulation

Hey guys, I’ve got a great idea! Lets invest Social Security payments in the stock market!

Oh. You’re absolutely right. Sorry I misunderstood — that’s what happens with insufficient caffeine.

I’m not looking forward to seeing what the market is going to do today.

Watching Bloomberg tv. Not something I usually do, but while channel surfing, it was like a train wreck: couldn’t look away.

Latest quote: “equity markets are in free-fall.” Tell me: is that good for Republicans? I thought all those tax cuts were only advantageous when one had capital gains.

BTW, did you see that the SEC [full of Repubs these days] just stomped on shareholders’ right to propose directors for companies? Yep, those insiders, officers & other directors do SUCH a good job!!

Who wanted to retire anyway. I will just keep working full time until I’m ready to be tipped over into the grave.

Michelle Bachman must be so proud.

I took my retirement in th 70’s!

here’s the AP take on what to expect this morning
Dow Industrials Are Set to Drop 500

Hey guys, I’ve got a great idea! Lets invest Social Security payments in the stock market!

I wish there were a mechanism whereby we could invest in the salaries and golden parachutes of all the overpaid executives!! Or, better yet, let’s “recapture” all of their $$$$. Oh, that’s right, they’ve already “stimulated our economy” by investing in vacations to Monte Carlo and yachts.

here’s the AP take on what to expect this morning
Dow Industrials Are Set to Drop 500

My retirement is about to retire.

Last year: Bank of America, Wachovia Profits Rise

This year: Bank of America, Wachovia Profits Plunge

Good letter to ed in Mpls Star Trib yesterday:
“We should be glad that our Social Securtiy money wasn’t in the privatized hands of Citibank, Merrill Lynch and the other financial ‘wizards’ as President Bush had so strongly urged.”
Something that needs to be said repeatedly & loudly.

Hey, I know, let’s pass another round of tax breaks for the wealthy. That should turn the economy around lickity split.

I like the fact that the Right is using the “If we don’t talk about bad news X, it won’t have happened” approach that has worked for them so well in the Mideast and whenever another Republican is discovered molesting little boys. Not sure that method will work so well when the nation slides into a Depression.

“La la la la la la la, I’m not LISTENING I’m still RICH la la la la la…”

“Yeah, look, buddy, could you get going? The line to the soup kitchen is moving…”

Want to defeat St. McCain in November? Point out to anyone you can that Iraq IS the economy. We’re flushing a trillion down a rat hole there, but according to McCain and his fellow Rethugs, it’s a mortal sin to spend a dime helping ordinary Americans. How come?

ya, and make sure to turn those “temporary tax cuts” into permanent gifts

I’ve been saying this for some time, the purpose of this administration’s strategy is not to aquire wealth for the wealthy, the purpose is to take wealth from the middle class

they want to dismantle the new deal, they want a robber baron economy returned to America

they are pissed off there is public education, they don’t want the masses educated, they are pissed off there is electricity available to everyone, they are pissed off we don’t have to take showers in privately owned bath houses in the squaler of strangers, they are pissed off there is a middle class

While there are ethical investments, the stock market is basically a scam and a stupid place to park money.

I don’t have parents (anymore) no inheritance… no children to worry about. My approach might be very different than most. I simply want to leave this life without any money in the bank or property to be disposed of.

If I die before my wife, she get to deal with my property… little that it is. No investments.

Chances are we’ll be sailing out of this country in a few years. Good riddance.

You don’t understand This Was Managed. It was no surprise to anyone senior in the adminsitration about the cut in AMBAC’s credit rating.

I’m willing to bet all the serior admin officials, and well connected republicans, shorted the market over the last 2 weeks, and have made a kiling on the results.

Insider trading? You bet!

Lynch Mobs in search of Republicans to hang=

GOOD NEWS FOR REPUBLICANS!!

(Hey, it beats burning at the stake,
so it’s gotta’ be good news, right?)