Comments on: The Onion: Our long national nightmare . . . http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 12:43:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: DeDude http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124766 DeDude Thu, 06 Nov 2008 18:52:01 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124766 Unfortunately the human condition is pretty pathetic. When we the people feel society is in a really good situation, the main thing we are concerned about is not having to help those that are less fortunate than us. At that point we vote for those who will not raise taxes. When we see that the economy is going down and fear that we ourselves may be at risk for being without income, healt insurance etc., then we vote for those who will make sure that society is there to help. Nanny state for ourselves when WE need it, tough “kick-yaself-in-the-a$$” love for everyone else when THEY need help. Our bodies may have left the caves 10,000 years ago but our souls and hearts are still living in them. Unfortunately the human condition is pretty pathetic. When we the people feel society is in a really good situation, the main thing we are concerned about is not having to help those that are less fortunate than us. At that point we vote for those who will not raise taxes. When we see that the economy is going down and fear that we ourselves may be at risk for being without income, healt insurance etc., then we vote for those who will make sure that society is there to help. Nanny state for ourselves when WE need it, tough “kick-yaself-in-the-a$$” love for everyone else when THEY need help. Our bodies may have left the caves 10,000 years ago but our souls and hearts are still living in them.

]]> By: DEFT http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124736 DEFT Thu, 06 Nov 2008 16:44:50 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124736 The opposite is true. History has shown time and again that when economics turns bad, prejudices explode, not recede. If folks had any prejudice at all, they would never have voted for a black guy after watching their 401ks and home equity sink and start worrying about their bank deposits as well. The opposite is true. History has shown time and again that when economics turns bad, prejudices explode, not recede.

If folks had any prejudice at all, they would never have voted for a black guy after watching their 401ks and home equity sink and start worrying about their bank deposits as well.

]]> By: Greg0658 http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124700 Greg0658 Thu, 06 Nov 2008 13:26:15 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124700 I awoke last light and started channel surfing, landing on the b&w documentary (A&E classroom) on President Truman. It complelled me to wiki him this morning before bouncing into here. That time period and links to events during my mom and dads courtship are something. The relationships between countries in Asia, Gen MacArthur, the Abomb, McCarthy. I find it striking mom and dads make kids. I guess it's the survival instinct; somebody has to take care of us. Those were interesting times of 1-up-manships. I'm sure 50 years from now history will look similar. Cause thats the way it is. I awoke last light and started channel surfing, landing on the b&w documentary (A&E classroom) on President Truman. It complelled me to wiki him this morning before bouncing into here. That time period and links to events during my mom and dads courtship are something. The relationships between countries in Asia, Gen MacArthur, the Abomb, McCarthy. I find it striking mom and dads make kids. I guess it’s the survival instinct; somebody has to take care of us.
Those were interesting times of 1-up-manships. I’m sure 50 years from now history will look similar. Cause thats the way it is.

]]> By: Steve Barry http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124689 Steve Barry Thu, 06 Nov 2008 11:04:45 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124689 Let me flesh out my theory a bit: 1) We know of the existence of the Presidents Working Group to stabilize markets, formed by Reagan after the 1987 crash. They have been mentioned recently even by MSM. If they EVER work to stabilize markets, they must be doing so now, during the "greatest crisis since the Great Depression that every economist says will never result in a new depression."™ A logical extension of this conclusion is they have been as active as ever, possibly going a bit nuts about it. This group is also know to some as the Plunge Protection Team (PPT). 2) Barry has made countless posts taking government data to task...NFP......B/D...Inflation...GDP. The key numbers released by the government seem to all be skewed way positively. Again, that must be going on today to a great degree. 3) A key reason for an administration to undertake these activities is to get their party re-elected. Those hopes went up in smoke officially on Obama Day. Now their focus must be to unseat Obama in 2012. Why, for one minute, would they continue the PPT and the data spinning? Many on these teams see it is futile anyway. They can easily blame weakness in the market now on the reaction to Obama getting elected. They can really stick him with a mess. Obama wants this as well...the Presidential cycle posits that the new president wants things weaker relatively in years 1 and 2, so he can start the re-election turnaround in year 3-4. This is why I concluded, and have posted since July, that an Obama election would result in an accellerated market tank. Just don't balme Obama getting elected for it...that is not the direct cause. Let me flesh out my theory a bit:

1) We know of the existence of the Presidents Working Group to stabilize markets, formed by Reagan after the 1987 crash. They have been mentioned recently even by MSM. If they EVER work to stabilize markets, they must be doing so now, during the “greatest crisis since the Great Depression that every economist says will never result in a new depression.”™ A logical extension of this conclusion is they have been as active as ever, possibly going a bit nuts about it. This group is also know to some as the Plunge Protection Team (PPT).

2) Barry has made countless posts taking government data to task…NFP……B/D…Inflation…GDP. The key numbers released by the government seem to all be skewed way positively. Again, that must be going on today to a great degree.

3) A key reason for an administration to undertake these activities is to get their party re-elected. Those hopes went up in smoke officially on Obama Day. Now their focus must be to unseat Obama in 2012. Why, for one minute, would they continue the PPT and the data spinning? Many on these teams see it is futile anyway. They can easily blame weakness in the market now on the reaction to Obama getting elected. They can really stick him with a mess. Obama wants this as well…the Presidential cycle posits that the new president wants things weaker relatively in years 1 and 2, so he can start the re-election turnaround in year 3-4.

This is why I concluded, and have posted since July, that an Obama election would result in an accellerated market tank. Just don’t balme Obama getting elected for it…that is not the direct cause.

]]> By: SandBagging http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124688 SandBagging Thu, 06 Nov 2008 06:37:38 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124688 I like to play a game of finding headlines from respected news outfits that are more suitable for The Onion. For example: eBay buyer faces libel action after leaving negative feedback http://www.timesonline.co.uk/tol/news/uk/article5009293.ece I like to play a game of finding headlines from respected news outfits that are more suitable for The Onion. For example:

eBay buyer faces libel action after leaving negative feedback
http://www.timesonline.co.uk/tol/news/uk/article5009293.ece

]]> By: Calvin Jones and the 13th Apostle http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124687 Calvin Jones and the 13th Apostle Thu, 06 Nov 2008 05:28:50 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124687 Patrick: Why wouldn't we like it? I might be an Obama supporter but I thought it was funny. Patrick:
Why wouldn’t we like it? I might be an Obama supporter but I thought it was funny.

]]> By: patrick http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124679 patrick Thu, 06 Nov 2008 04:23:47 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124679 Here's why the Onion rules, they shred both sides although I'm sure most 'round here won't like it. http://www.theonion.com/content/video/obama_win_causes_obsessive Here’s why the Onion rules, they shred both sides although I’m sure most ’round here won’t like it.

http://www.theonion.com/content/video/obama_win_causes_obsessive

]]> By: rob http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124675 rob Thu, 06 Nov 2008 04:10:40 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124675 Yeap, Bush single handedly destroyed the Galaxy. Thank God Congress didn't ever get involved! Whew, imagine that cluster fuck! http://www.knology.net/~aquaabyss/job.jpg ~~~ <B>BR</b>: I guess I was wrong. Bush is awesome! Best president ever! Yeap, Bush single handedly destroyed the Galaxy. Thank God Congress didn’t ever get involved! Whew, imagine that cluster fuck! http://www.knology.net/~aquaabyss/job.jpg

~~~

BR: I guess I was wrong. Bush is awesome!
Best president ever!

]]> By: Greg0658 http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124674 Greg0658 Thu, 06 Nov 2008 04:05:55 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124674 How many months does it take to sell out of the market on MIC pull down/out? Is 6800 still the mark? How many months does it take to sell out of the market on MIC pull down/out? Is 6800 still the mark?

]]> By: Mannwich http://www.ritholtz.com/blog/2008/11/onion-our-long-national-nightmare/comment-page-1/#comment-124670 Mannwich Thu, 06 Nov 2008 03:41:44 +0000 http://www.ritholtz.com/blog/?p=8205#comment-124670 The Onion is a far more credible publication than the WSJ's Op-Ed page. The Onion is a far more credible publication than the WSJ’s Op-Ed page.

]]>