Morning Audibles 10.8.10

Ok, so here we are... NFP day...

A Hard Job is Good to find (wait, did I get that right)?

Whaddya say, MAE?

What are all supposed to be waiting for again? Oh yeah, If I recollect, it goes something like...

A) If the number comes in hot, the stock market goes up
B) If the number comes in cold, QE is assured, so the stock market goes up
C) If the number comes in "meh", that's considered goldilocks, so the stock market goes up

Of course, we all know it has nothing to do with actual PEOPLE, or JOBS... Just those who profit at the expense of others...

Tell them they need to SUCK IT UP

Let them eat OKRA cake

"Down into the never-ending valley of toil and agony, stretching mile after mile, an inferno of mud-soaked bodies, where the treaders' feet churn clay and straw into the mixture for Pharaoh's bricks, and everywhere the lash of watchful taskmasters, ready to sting the backs of the weary.

"Blades chopping straw... mattocks chopping clay, a ceaseless cycle of unending drudgery. From the mixing feet of treaders to the pouring hands of brick molders, moves the constant stream of mud, the lowly seed of tall cities. Day after day, year after year, century after century, bondage without rest, toil without reward. These are the children of misery, the afflicted, the hopeless, the oppressed." - The Ten Commandments - 1956


Not plussed about the toils of every day slaves, here's what a modern day PHARAOH had to say about the world this morning... (well actually, I'd characterize him more of a DATHAN type, but we'll get to that later)...



Markets: Very Big Multithreaded Software Apps That Crash

Excerpt: "Our stock markets now behave no differently than a giant multithreaded software application."

So, Mr. "Do you want to be right, or make money" "Wall Streeter who Blogs"... assuming you count yourself in the "I want to make money" crowd, I suppose you consider yourself a type who collects small gold coins from PHARAOH to keep an eye on the SLAVES working in the mudpits, and assure the building of Goshen goes on...


Well all I can say is "congratulations" on your promotion from TREADER, to TRADER...

But remember What Moses said to Pharaoh:

"The city is made of bricks. The strong make many, the starving make few, the dead make none."




277 comments:

«Oldest   ‹Older   201 – 277 of 277   Newer›   Newest»
I-Man said...

Does this mean I can stop paying my mortgage?

CV said...

@karen

Frankly...

I'm completely the "other way" on this... (which means - I'm not buying into the GUARANTEE, and the EUPHORIA)...

I think this might precipitate a crash instead...

karen said...

Barclays revises 10-year note estimate to end year at 2.4%

CV said...

@I-Man

AND your gas... Didn't you know?

AmenRa said...

Now I'm wondering why the FDIC decided to guarantee an unlimited deposit. Maybe it will allow them to go after TBTF. One can "hope".

I-Man said...

Sweet!

When will they make selling stocks illegal, so they can only go UP?!

Thats what I want for Christmas...

Fuck two front teeth!

CV said...

Barclays revises 10-year note estimate to end year at 2.4%


---

Oh good - That means fair value on the S&P is around 800, not 740

arbitrage789 said...

K @ 3:25

Congress should pass a law making it illegal for a company to fire anyone.

That will solve a lot of problems.

CV said...

@Amen

"Now I'm wondering why the FDIC decided to guarantee an unlimited deposit"

It's easy to have an unlimited guarantee... They'll just tax the funds to cover that right back out of you...

You're solid there bro...

CV said...

@DL (3:36)

Wait until Obama gets out of office first...

CV said...

same kind of 1 minute candle to get over 1167.58...

What a joke!

karen said...

CV.. you realize, thus far we have tagged exactly the midpoint between .58 and .87

1167.73

Leftback said...

The thing is the banks can maintain the value of the un-foreclosed assets forever now...

Bear Stearns can come back to life, Lehman, Countrywide. The UNDEAD will walk the Street, Wall Street, that is.

CV said...

I'm just looking at those 1 minute candles (as I described earlier)...

and the artificial "look" they had to print those FLASH CRASH levels...

Totally hokey...

karen said...

mmm, my hair smells good.. it is friday.. how about a watermelon martini before my walk..

i'm really stuck on not exceeding 1167.73.. which unfortunately means we probably will.. next post flash crash high was 1173.73.

karen said...

LB.. there is a problem according to Denninger: servicers are required to forward monthly payments to MBS holders even though they're not getting payments on the mortgages. Those servicers are all the major banks.

If you halt foreclosures you also halt their ability to get some of the value back out of the transactions, which means they're paying money out and getting no money in.

http://market-ticker.org/post=168616

CV said...

The bank foreclosure thing is retarded...

In the end... The costs are HIGHER for the banks to kick people out and maintain the property themselves (thru board-ups), and maintenance...

I know... In my 20's, I did this job in Southern California...

So the banks aren't being POPULIST here (or worrying about "backlash")...

They're worried about EXPENSES as this thing snowballs...

It's the POLITICIANS like Harry Reid who are being populist...

The problem is... They're ALL being shortsighted... AGAIN... Because they're not seeing that this is going to lead to a mass WALK AWAY from debt obligations across the board...

Peggy Joseph...Peggy Jospeh...Peggy Joseph...Peggy Joseph...Peggy Jospeh...Peggy Joseph...Peggy Joseph...Peggy Jospeh...Peggy Joseph...Peggy Joseph...Peggy Jospeh...Peggy Joseph...Peggy Joseph...Peggy Jospeh...Peggy Joseph...

arbitrage789 said...

Maybe this foreclosure thing is just a pre-election stunt.

ZH chorus said...

"Hyperinflation, bitchez."

karen said...

some tidbits from my new guru, EddyElfenbein

Dow first broke 11, 000 on May 3, 1999. At the time, gold was at $285 an ounce. $$

Did we have to break 11,000 on the day of the awful jobs report? #poortaste $$

Promise not tell anyone but the S&P 500 is now down just -2.4% since the day Lehman Brothers went under. $$

Strange Fact: Over the last 18 years, all of the stock market's gain has come when the market is closed. http://bit.ly/bPTzke $$

Leftback said...

This effing market is a pre-election stunt...

karen said...

in a tribute to that other type of levity: http://spectator.org/archives/2009/03/13/osama-bin-elvis/print

karen said...

LB, you cannot say that in front of CV!!

Leftback said...

Karen,

I want to smell your hair and share a watermelon martini with you.

Leftback said...

Monday could be the funky counter-trend day next week. I am going with a MOMO TUESDAY instead.

wunsacon said...

"Can, meet foot."

The Establishment is loving this foreclosure problem. It restricts supply and thus forces prices higher.

Worse, it might even allow the Establishment to "make deals" with underwater homeowers -- this time even cramdowns to forgive a bigger part of their debt. Since Wall Street and private investors already handed "the bag" to the Fed, they'll be quite satisfied giving the American taxpayer the bill.

(If I weren't so jaded, I might hope that a new Congress might make a difference. But, I don't think that'll change much.)

arbitrage789 said...

smell your hair?


What happened to subtlety?

I-Man said...

When do short sellers get hauled off to internment camps?

CV said...

@karen

Actually... LB would be right about that because... REALLY...

What ever ISN'T a "pre-election" stunt?

As far as the markets are concerned... Sure the markets may react to ridiculous news, but in the end, does it matter?

What about Bear Stearns? Lehman? Hanks bazooka? "Subprime is contained"? "Burn all the shorts"?

As I recall - those all happened in AN ELECTION year as well...

So guess what? If the markets stay buoyant thru this years ELECTIONS... Then I suppose the probability shot up to 50 - 50...

Now, do you want to bet me on the next coin flip? (and lay your entire portfolio on it)?

72bat said...

denninger just posted maybe HR3808 is NOT dead by pocket veto:

4closurefraud is reporting that The Senate session is still formally open...
The word is out that Pres. Obama’s pocket veto of the Digital Robo-Signing Act was actually a trick. Sen. Harry Reid didn’t actually adjourn the U.S. Senate. The Senate has been kept in session by a little understood ruse and the bill will become law tonight at midnight without the President’s signature.

The big banks will file suit after the election to have this bill declared to be law.

Article I, Section 7 of the U.S. Constitution seems to support this view.

Some drunken bankers were already bragging about this an some major news outlets, including Fox News have reported on this.

If we have been intentionally bamboozled by this President for the purpose of legalizing the theft of homes he must be impeached immediately.

Update: The Constitution clearly says "unless adjournment prevents its return." Ok, The House is adjourned, The Senate not (it was held open to prevent recess appointments.) Is this sufficient? I don't know, but I bet we get to find out in a lawsuit on this deal.....

karen said...

I-Man, I got my hair trimmed yesterday.. not quite so straggly now : )
Taking a big sigh now and going to see how these candles ended.. MAYBE sip a martini.. but I've got a long walk ahead of me.. promise to stay off the (short) Pier.

wunsacon said...

>> When do short sellers get hauled off to internment camps?

They no longer do that sort of thing, because now they just rearrange some electrons and f*** us virtually.

CV said...

@wunsacon

"If I weren't so jaded, I might hope that a new Congress might make a difference."

HA! new CONgress...

All that means is that we save a few bucks in jet fuel not having to schlep Pelosi's ass all the way to California...

Maybe BONER will Amtrak it past my way (Harpers Ferry), on his trips to Ohio... Ya'd think... Right?

As for other "meaningful" change? My crystal ball sees a lot of nonsensical ethics investigations...

Keep the sheeple entertained... You know?

rolls eyes

I-Man said...

Off to take Baby I to the pumpkin patch, and to try and resume a semblance of normalcy.

God Bless America. Land of the Lie, Home of the Debt Slave.

CV said...

@karen

Ahem...

Couldn't quite close OVER the 5/5 candle close...

Call it a "minor" eff-u for the bears... :-)

karen said...

smsearsBarrons
Watch GS. Hearing from one of my best sources that this is the "tell" for the market. as goes GS, he says so goes the stock MKT

wunsacon said...

>> http://tv.yahoo.com/blog/two-and-a-half-men-kid-signs-300000perepisode-deal--1624

Is this a sign of...something??

Attorney for I-Man said...

My client didnt really mean that, he just needs to smoke a spliff.

karen said...

http://fridayinvegas.blogspot.com/2010/10/aig-letting-houses-burn-food-stamps-and.html

Leftback said...

"What happened to subtlety?"

It's Friday night...

Peace, I-Man, Jah Market convenes again Monday.

Ben22 said...

damn, 241 comments to read through, was in meetings all day team, looks like Johnny can talk about dow 11k over the weekend, suppose that's how it should be.

CV said...

@karen

Cv has a different take on the soda and food stamps issue...

I think FOOD STAMPS should be issued to all members of Congress... and the only thing they should be allowed to purchase with them would, in fact, be soda...

& Mentos

Then we could shove it all down their throats and watch the fireworks...

http://www.youtube.com/watch?v=hKoB0MHVBvM

karen said...

http://dealbook.blogs.nytimes.com/2010/10/08/citadels-100-million-payout-under-fire/?src=twt&twt=nytimesdealbook

i better not read another thing lest it interfere with my stellar mood : )

I-Man said...

What time is it?

karen said...

CV, you must have a photographic memory..

wunsacon said...

>> I think FOOD STAMPS should be issued to all members of Congress...

Maybe we should require our politicians to live in neighborhoods with the median income/crime levels for their entire district.

wunsacon said...

...and eat what the regular folk eat (be it food stamps and whatnot).

CV said...

catfood

CV said...

at least I'll have some OLIVE OIL to put on mine...

wunsacon said...

I've got a photographic memory. But, my f-stop is set too low to see anything.

CV said...

WEEKEND PLAYLIST

Ringo Starr
http://www.youtube.com/watch?v=t6CMSuT98-E

Def Leppard
http://www.youtube.com/watch?v=jY1impD7KJI&feature=fvst

CV said...

and of course karen...

DURAN DURAN
http://www.youtube.com/watch?v=gudEttJlw3s

Brian the Broker's Shapely Assistant Tawny said...

COLUMBUS DAY BBQ, at BRIAN'S.

See you there, JOHNEEEEEEE....

karen said...

there is a salamander in my kitchen.. i really need a drink now..

FUN SONGS!

CV said...

or do you prefer

J GEILS
http://www.youtube.com/watch?v=BqDjMZKf-wg&ob=av2e

wunsacon said...

I've been saying we have what's looking like a "failed state on our border" for about a year. (Pop quiz: do I mean Mexico...or Arizona or California? Heck, I'm not sure...)

Anyway, here's more evidence to support that hypothesis:

http://news.yahoo.com/s/ap/us_border_lake_shooting

Pirates!! Yarrrrr!

CV said...

J GEILS 2
http://www.youtube.com/watch?v=wHo43B6nu60&feature=channel

wunsacon said...

Have a good evening, folks. Gonna go back to do a little more work.

karen said...

okay, stop, stop.. !!

Leftback said...

MC HAMMER the shorts. Can't touch this (POMO-addicted market)

http://www.youtube.com/watch?v=otCpCn0l4Wo&feature=channel

BinT said...

Here it is..(just got back)

You are in Vegas..shooting craps...actually you are not playing but you just stepped up to the table...you notice the casino's man, why that is Ben Bernanke...and next to you, why that is Tepper shooting, and he is on a roll. You say,"Boy your luck is good." And he says,"Ain't no luck in it boy, the fella running the game, he's give me loaded dice. I can't lose." Well, you don't know but you look around and you notice there is a pair of dice in front of everybody. Tepper speaks to you and says, "Don't worry boy, he tells me they're all loaded! All you got to do is play."

..That's about it...question is, do you believe him or not. He has a pile of money, and you just don't know if it could be this easy...That is really the BIG question, isn't it?

Gotta do some chores, back at dark...

Leftback said...

What you don't notice is TEPPER cashing out and leaving the casino as you make your roll....

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