Leaper !
By Barry Ritholtz - October 24th, 2008, 4:30PM
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
October 24th, 2008 at 4:31 pm
Or maybe he’s a Hero.
October 24th, 2008 at 4:38 pm
In the long run, it won’t just be the U.S. taxpayers who foot the bill for the current mess. It’ll also be the foreigners who bought dollar-denominated assets.
October 24th, 2008 at 5:29 pm
I’ve downsized my investment research expenses … no sense in paying for them to sit in cash. What I won’t give up is IBD and Ramirez is one the reasons.
IBD Rules!!!
October 24th, 2008 at 5:35 pm
Is that National City?
October 24th, 2008 at 5:42 pm
Should be: “It’s OK I didn’t fall on a taxpayer”, or do you prefer “It’s OK I’ve landed on EZ Al”?
October 24th, 2008 at 5:46 pm
There’s a lot of that going around. And its not just banks either.
October 24th, 2008 at 6:23 pm
Obama says that for 95% of us, it’ll be raining down cash after January 2009. What’s wrong with that?
HE’S GOING TO MAKE IT RAIN MONEY!
Woot!
October 24th, 2008 at 6:25 pm
Ya he landed on you, me and everyone we know.
October 24th, 2008 at 6:27 pm
HE’S GOING TO MAKE IT RAIN MONEY!
Woot!
But no rain for you muck – sorry. But we’ll all try to ‘feel your pain’…
October 24th, 2008 at 6:40 pm
While I have maintained steadfastly my forecast for Dow 5000 sometime in the 2010s, later revised to Dow 7K (Obama) / 4K (McCain) / 1K (Palin), I have also steered clear of the “crash” scenario where people were jumping off buildings. As I have said before, the stock market will be a slow descent into hell, although I must say, the recent downturn has been an accelerated but still slow descent into hell. I may have mentioned it before once or twice, but this crash sucks.
That said, certain rich folks might consider all their options when I, as a registered Republican, push for old traditional, Republican values – EVEN IF THAT BARACK OBAMA WERE TO WIN – specifically the eventual return of the Eisenhower era marginal income tax rate of 91% for the wealthiest tax bracket, and the general rollback of tax advantages for the rich. If that is too much old Republicanism, I want the Democrats to at least consider the Richard M. Nixon tax regime, 70 percent marginal rates on the highest tax bracket.
These Socialist Democrats do not know it, but even if they win, this registered Republican will be pushing every day for a return to traditional Republican values.
October 24th, 2008 at 6:43 pm
you know you loved it. terminal velocity bump.
October 24th, 2008 at 7:01 pm
I wonder if that character fell @~32ft/s/s ?
past that, I wonder if, even, the Cartoonist understands the *Reality of the Massive HVAC installation on top of the ‘bank’ building..If so, that pictorial, on that count alone, woud be ‘Classic’.
October 24th, 2008 at 7:45 pm
Bankers don’t fall at 32 feet/sec squared. There are two reasons for this strange anomaly:
1) Their lungs have an enormous amount of hot air.
2) During the descent they use brown rocket propulsion to simultaneously slow down and lose weight.
Imagine that; A banker giving shit away when he could have sold it as fertilizer. Ah, but they have their priorities.
October 24th, 2008 at 7:45 pm
this has nothing to do with nothing but I need to let off steam. I HATE WITH A PASSION Larry Kudlow and his totally obnoxious, disgusting,stupid horrific advice that has very possibly cost uninitiated unprepared viewers much money. His friend Don suskind is not far behind. But Larry takes the prize for the most irritaing scumbag in the history of T.V. Can anyone come up with a way to SHUT HIM UP legally with a lawsuit for losses sustained since he is almost certainly NOT a registered rep?I will consider anyone who could suggest a lawyer to sue the dirty BASTARD for impersonating a financial advisor. Anyone?
October 24th, 2008 at 7:45 pm
CNBC Suxs: What is the theory that Obama would do less damage to the market than McCain? I would have thought it was opposite.
I should confess, I think Soros is behind this crash. I think he lit the fuse and idiot Paulson made it worse in his effort to be an idiot with $700B.
October 24th, 2008 at 7:49 pm
What the hell just hit me?
October 24th, 2008 at 8:06 pm
CNBC sucks,
You’ve got a great point on taxation. However, the system as set up is rife with obfuscation from the get go. The simple accounting formula Capital = Assets minus Liabilities was the first to be mauled. How did income from wages cease to be capital? By new tax definitions, of course. Taxing Capital Gains is Anathema to Capitalists, right? Okay, then let’s just tax assets minus liabilities. Oh, wait. The working stiffs don’t have liabilites; That’s just for businesses. Wage earners have tax deductions, don’t ya know?
So you see the problem is with definitions and quite deliberatly so. Corporations don’t make money, people do. When we can make it so everyone who owns stock and/or gets wages in a corporation has to share the corporate income and expenses proportionaly accross the board, then we’d be getting somewhere. And then we can have a fair tax rate. The numbers don’t mean a thing if you can game the deductions and definitions.
October 24th, 2008 at 8:12 pm
The Onion has the best article on the recession that I’ve read yet: Swaggering Down 87%
October 24th, 2008 at 8:21 pm
Posted by: AGG | Oct 24, 2008 8:06:35 PM
CNBC S has No Answer to that (that’ll make any sense) He’s out of the Channel, on that one, he forgot to Mark Twain..
October 24th, 2008 at 8:32 pm
I’m wondering if President Bush will be seen leaving the Oval Office on his last day in office with a long trial of toilet paper suck to the heel of his shoe that reads, “Operation FUBAR — Mi$$ion Accomplished”, written in crayon.
I think that would make a good cartoon.
P.S. I voted for him twice. Such a “Tool” am I.
October 24th, 2008 at 8:57 pm
that’s cold bro
October 24th, 2008 at 9:18 pm
Friday fun, goes well with the times: Wassup 2008
October 24th, 2008 at 9:30 pm
Is the money really coming from the tax payer? Isn’t the federal reserve just creating this money out of nothing?
October 24th, 2008 at 10:06 pm
“Operation FUBAR — Mi$$ion Accomplished”, written in crayon.
I think that would make a good cartoon.
P.S. I voted for him twice. Such a “Tool” am I.
Posted by: Name withheld upon request. | Oct 24, 2008 8:32:51 PM
I think at least one of the reasons McCain picked Palin was so that the Christian Right that so enthusiastically embraced Bush and ended up betrayed by Cheney (along with the Constitution, freedom and pretty much everyone else on earth); that they wouldn’t think the same could happen again.
I get a kick out of theories that Bush masterminded anything. Especially the current situation. Bush was a front man, a front man that provided plausible deniability that anything evil was taking place. I bought into it in 2000 only to have my eyes opened through the years. The front man can be your grandmama’s dog…it’s the vast horde of appointees and underlings that add up. If you want real change then pass a law that states that no government employees can attend meetings where the public is not invited or has ever belonged to such an organization or attended their meetings and is barred from doing so for 20 years after leaving office.
I bet if you were a fly on the wall in some of the CFR or Bilderberg meetings 20 years ago you would have known this current situation was in the making for a long time.
Evaluate what’s important to you. You gotta know your future is in “their” hands.
October 24th, 2008 at 10:42 pm
Thought this from the Onion was good. The Fuld quote is a nice touch.
Dollar Bill On Floor Sends Wall Street Into Frenzy
October 24th, 2008 at 11:05 pm
Collins, DeWitt, and Sloan
1 Manhattan Plaza
New York, New York
Dear Ms. Banker:
Our firm regrets to inform you of an error in the posted comic – the passing of your spouse in an apparent fall is actually true. It seems the “trip and fall from a really high place” swap he purchased was not underwritten by “cat with nine lives hedge fund”, as he was led to believe, but had actually been sold to an over-the-counter Siberian Yak farmer named Boris, whose present whereabouts is unknown.
We regret the error.
Sincerely,
The staff of CDS
October 25th, 2008 at 1:37 am
“P.S. I voted for him twice. Such a “Tool” am I.”
Hey name withheld,
I’m a recovering Democrat myself but could you tell me just what it was you liked about Bush? I’m curious.
McCain seems deranged these days but i can’t say Obama will be up to job # ONE when he hits D.C. …….O seems to be inclined to throw even MORE money we don’t actually possess at “the crisis”.
We are already leveraging so much borrowed $ into the furnace.
we are so fucked.
October 25th, 2008 at 3:35 am
@mike123
Why would he think Obama would be better for the market? The reason I think Obama would be better because I don’t listen to CNBC or Fox.
Bottom line: We need things like bridges. Things like bridges cost money. Money comes from people with money. People with money want to keep it. So they hold US hostage with their fearmongering. (NOT a conspiracy theory, just a bunch of twits convincing themselves that a few percentage points of taxes will cause Doom!)
Seriously, if the vast majority of US stocks are held in IRAs, 401ks and pensions, there is absolutely no reason to dump stocks because of taxes, and fund managers dumping stocks on that reason are likely not acting in their customer’s interest…dumping stocks to evade capital gains that DO NOT EXIST, and WOULD NOT BE TAXED, has to be one of the most colossally stupid ideas that any “normal” fund manager would come up with.
As to the ridiculous conspiracy theories of someone crashing the market to get a Democrat elected, remember, these are the same geniuses that had “Buy!” ratings on internet stocks, Enron, WorldCom, NEVER could have predicted an Internet Bubble, a Housing Bubble…the list goes on.
I will confess, there ARE some known cases of conspiracy to manipulate markets, and I am open to being proven that there is conspiracy to crater the market, but I won’t take the crackpot theories of someone like Luskin or Bowyer or Kuddles, unless they can back up theory with facts.
Yes, I think some managers are dumping stocks on political reasons, but I don’t really think they’re trying to crash the market for cynical political manipulations. I’m thinking they REALLY are afraid of higher taxes, I also think they’re selfish, short-sighted, stupid and worst of all, SELF-DECEPTIVE.
/rant
October 25th, 2008 at 8:23 am
Well, I was telling my close friends to get out of the market before 2008 rolled around. I KNEW that Soros and his big money buddies would tank the market to get either Hillary or Obama elected. If I knew this was going to happen, I’m sure a lot of other folks knew it too and got the hell out.
Soros wants to impose his socialist views on the US. Looks like he is getting his wish.
Also, I’m not sticking up for the ridiculous levels of spending GWB has presided over, but if anyone thinks we will have LESS spening with Obama, they are crazy.
October 25th, 2008 at 9:42 am
All this “false flag operation” psychology talk over a cartoon. It happens. Like thru advertising, talk shows and blogs. Hell every word spoken and written.
The root is the need to hoard more for ones self for self preservation.
brion to answer your question “why Bush”? imo the Church may be feeling threatened that the “government nanny state” mindset is taking hold and replacing them in times of need. The same goes for hard working Americans feeling there is a “government nanny state” taking hold for loafers.
My job is to point out that a more perfect union would need far fewer indigent lines and prisons full of drug dealers and thieves.
October 25th, 2008 at 9:56 am
ps – the next thread line reminded me of a self preservation meme I forgot (besides dealin and thievin) ie: run of the mill capitalism
“When all you can build is McMansions….it’s not surprising that you run out of space and have to start building …”
October 25th, 2008 at 10:19 am
I assume jdamon is a troll, but have nothing pressing at the moment:
Funny how, when their ideology leads to disaster, the Republicans either make up some crazy theory that something else did it or go on about how it’s not productive to spend time fixing blame. Reminds me of the wedding scene in Monty Python and the Holy Grail: “Please! This is supposed to be a happy occasion. Let’s not bicker and argue over who killed who.”
Of course, one only learns from mistakes by honestly analyzing them.
Soros, the billionaire capitalist financier wanting to crash the markets in order to impose “his socialist views?” I suppose that is a throwback to the Worldwide Jewish Conspiracy being behind International Communism. See also,
Editorial Cartoon
It does seem McCain has finally come up with a practical economic plan that I could really buy into:
McCain’s Economic Plan For Nation
October 25th, 2008 at 10:29 am
Off topic but true!!!
http://www.geckotales.com/vote-obama-2008.htm