Friday, May 07, 2010

Weber County Forum 10/7/10 Jackass Writeup

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

W.B. Yeats

Sorry folks. Your blogmeister took the day off today to do three daytrades, which netted him a tidy profit, in the wake of yesterday's Stock Market Klusterfluck.

Anyway, your blogmeister is back now, with a news roundup of a few of the totally weird stories which were posted on the internet today, whilst your blogmeister was busy trading in the Wall Street Casino. As my old pal Hunter S. Thompson used to say: "When the going gets weird, the weird turn pro."

Here is one of a few of the odditities your blogmeister found today, for starters, after making three day-trading "killings" in today's and yesterday's "disarrayed" market trading:

1) You gotta love this racist asshole. He goes off on a complete racist rant, and then turns pale, realizing he forgot to breathe while his buddies were taping his too long prolonged B.S.:
America Treats Americans Like Crap...
Whew! Scary, no?

2) This one definitely scares the crap outta us:
Copy Machines, a Security Risk?
Crush your old copy machines, people. If you fail to do this, they will no doubt snitch on you.

3) Hyperbolic? We're not entirely sure, based on the recent mal-performance of world financial markets:
John Williams: A Hyper-Inflationary Great Depression Is Coming
We dunno, people... but we'll say again that we believe that perhaps all we good LDS people should take a second and more serious look at long-term food storage... you know...just in case...

There's even more possibly to come, shortly. Be sure to check back for further updates.

Let's just say that we're now on a roll.


ozboy said...


I think the guy did a fairly credible performance of what passes for intellectual political dialogue on the right wingnut side of the Republican Party - the side that controls the state of Utah for instance - the ones who are going to make the State GOP even nuttier after this Saturday.

I hate to hijack this thread so quickly as I know how much thought and effort you put into mounting it, but - I saw this on the KSL site and thought it was pretty good news, a real significant national 1st place as opposed to the Forbes puff piece of the other day.

The news is that the DNews was named 1st in the Nation for circulation increases. They apparently are selling more news now than they ever have. The Tribune web site has also been deemed to be one of the 25 best in the country. The times - and news distribution - are a changing.

Let's hope that our own Standard Examiner is finding their way in this brave new news world. It would be nice if they survived this grim reaper that has been mowing down our grandpa's news papers. If the Standard can find the right success formula maybe they will be able to buy their balls back from the Godfrey cabal.

You can see the article at:

Despite national trend, Deseret News readership up

Danny said...


My advice anyone who makes trading profits is this:

Don't get cocky.

Danny said...

This is one of the best videos on what has been going on.

Our Corrupt America

People like Bob Bennett should not just be voted out. They should be jailed. I think they should be guillotined.

RudiZink said...

"Don't get cocky."

Good advice always, Danny, for somebody like me who's learned the fine art of tradining over many years from the school of hard knocks.

Believe me, I'm ALWAYS cautious... and I always hedge my bets.

RudiZink said...

I'm sorry, Danny. I consider myself to be an expert in real estate finance, but Rep. Grayson's rant is pure gibberish, afaic. Do the U.S. taxpayers now own the equity ownership interest in Red Roof Inns? Have we stepped into the place of the three tiers of senior/junior creditor security interests" Inasmuch as Rep Grayson seems to be saying that the lenders are apparently still trying to perfect their security interests, I'd infer that's not what Rep. Grayson is saying.

I've listened to Rep Grayson's rant three times now; and I'm still not sure which interests Rep. Grayson argues to be "owned" by the taxpayers.

Having said that, it's obvious that this transaction calls for a full audit.

Nevertheless, Rep Grayson's statement isn't very helpful in that respect.

Perhaps, Danny, you can clear this matter up.

What interests, exactly do the taxpayers "own" with respect to the Red Roof In Property? Equity ownership interests" Debt security interests?

So far... Grayson's "explanation" is more than a little bit "muddy."

The Boss said...

Hmmmm. My personal secretary and I worked late last week, got naked and copied some of our personal body parts on the office copier, just for laughs. Looks like we'll have to pull out that hard-drive. Thanks for the heads-up

Danny said...

It think Grayson made it pretty clear, at least it seemed so to me.

When Bear Stearns went down, various brokerages took the good stuff, and left the crappy debt for the Fed to take. Part of that was leveraged buyout debt that was used to buy Red Roof Inns.

So the Fed ended up with the note, not necessarily ownership.

All the downside, but no upside or control - the sort of deals Godfrey likes to do on behalf of the Ogden taxpayers.

The Fed has also purchased 1.2 Trillion in mortgage backed securities, ie bundled mortgages. Technically the public does not own the houses, but would have to repo them in default. So the Fed will likely lose money on all this (having made those fools who did the deals whole), but that's not a problem for the Fed, since they create money at will whenever they want to.

Wouldn't it be nice if you, when you lose money, could have the Fed take your money losing deals off your hands at the price you originally paid? You say they don't do that for you? Well that's too bad. The thing is, we don't even know WHO they do these deals for!

The bankers have unloaded their junk on the Fed, and have been buying stocks and bonds - the only reason both have been going up.

The problem is most suspect the Fed is doing something screwy, but don't know what. The Fed's stock in trade is that they hope the public will not understand, and will eventually drift away.

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