The Onion asks, Should The Government Stop Dumping Money Into A Giant Hole?
In The Know: Should The Government Stop Dumping Money Into A Giant Hole?
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.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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November 13th, 2008 at 8:48 pm
General Motors, Ford, Chrysler have been in “serious shit” since the 1970′s. The unions have ingratiated and protected their members to create enormous costs over the last 40 years to keeping the companies from being competitive. It’s all about employee costs past and present.
The Bush Administration, today, finally made their best announcement in the last 8 years. “Do not give the Automobile companies any money – they have a fundamental problem – employee costs – that will (my words) suck the funds dry”
Bush’s only other worthy statement was declaring victory when we originally entered Iraq – why we have been there since then will haunt that man who goes in his closet every day to hide.
Bankruptcy will force the Auto Giants into Court where a Judge can alter the contracts with the unions.
The Unions will appeal – a quick run to the Supreme Court – where the unions will bleed – this process is a must. After the Supreme Court – then consider giving the Auto Giants money.
November 13th, 2008 at 10:35 pm
Wow, really felt like I was listening to CNBC there for a minute.
November 14th, 2008 at 12:27 am
I can’t sleep and I made money today providing my option sale tips out on the ask tomorrow. Not worried about losing the whole option trade barring some catastrophe overnight either.
Would have figured it should have been exactly opposite. Looked like world was coming to a halt again this morning and I slept like a baby last night. What gives?
November 14th, 2008 at 10:47 am
barry- did you hear the latest bad news?
http://www.youtube.com/watch?v=bNmcf4Y3lGM
November 14th, 2008 at 12:49 pm
yeah I posted that last week
http://www.ritholtz.com/blog/2008/11/foreclosing-hitler/