Comments on: Turnaround Lesson http://www.ritholtz.com/blog/2009/04/turnaround-lesson/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 16:09:43 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: History http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163599 History Tue, 21 Apr 2009 10:55:13 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163599 This cartoon is so on the money... but we're being softened up to believe in a fairy godmother who'll sprinkle magic eco dust on the economy, and the 'brill bailout' will solve everything. Of course the banks are laughing all the way to their own private stashes, paid for by again... you and I the taxpayer. It'll all end in tears that's for certain - unless we change our hearts n' minds regarding the root cause of this mess, pretty much our own consumer greed and a penchant to being up as sitting ducks to be manipulated - same thing here in UK of course. Ollie This cartoon is so on the money… but we’re being softened up to believe in a fairy godmother who’ll sprinkle magic eco dust on the economy, and the ‘brill bailout’ will solve everything. Of course the banks are laughing all the way to their own private stashes, paid for by again… you and I the taxpayer.

It’ll all end in tears that’s for certain – unless we change our hearts n’ minds regarding the root cause of this mess, pretty much our own consumer greed and a penchant to being up as sitting ducks to be manipulated – same thing here in UK of course.

Ollie

]]> By: FromLori http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163597 FromLori Tue, 21 Apr 2009 07:21:00 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163597 Really good one over on The Market Ticker...lmao Treasury: Caught Lying Again http://market-ticker.denninger.net/archives/972-Treasury-Caught-Lying-Again.html Really good one over on The Market Ticker…lmao

Treasury: Caught Lying Again

http://market-ticker.denninger.net/archives/972-Treasury-Caught-Lying-Again.html

]]> By: wisedup http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163594 wisedup Tue, 21 Apr 2009 04:13:38 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163594 dead man talking Mannwich, there does appear to be a significant lack of top dogs being culled. It is amazing how much political cover you can buy in Congress for a measly mil'. dead man talking

Mannwich, there does appear to be a significant lack of top dogs being culled. It is amazing how much political cover you can buy in Congress for a measly mil’.

]]> By: franklin411 http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163591 franklin411 Tue, 21 Apr 2009 03:49:03 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163591 @Mannwich: How could that be a novel thought? 9 out of every 10 comments on this blog are from the Tinfoil Hat/End-of-Days crowd. @Mannwich:
How could that be a novel thought? 9 out of every 10 comments on this blog are from the Tinfoil Hat/End-of-Days crowd.

]]> By: Mannwich http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163583 Mannwich Tue, 21 Apr 2009 02:43:21 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163583 Here's a novel thought - - might we all suffer even worse as a result of these neverending bailouts of the incompetents and fraudsters who got us into this mess? I know that thought is incomprehensible to those like franklin411 who have their minds set and are so sure they're right, but please do give it at least a little thought from time to time. I'm getting that sinking feeling again that I got last fall and again in Jan/Feb. Here’s a novel thought – - might we all suffer even worse as a result of these neverending bailouts of the incompetents and fraudsters who got us into this mess? I know that thought is incomprehensible to those like franklin411 who have their minds set and are so sure they’re right, but please do give it at least a little thought from time to time. I’m getting that sinking feeling again that I got last fall and again in Jan/Feb.

]]> By: Transor Z http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163576 Transor Z Tue, 21 Apr 2009 02:11:55 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163576 <i>This is a project that will take 25 years to accomplish, btw.</i> Cool. That neatly breaks out into a series of five ever-more-successful five-year plans. <i>And anyone who says that the suffering of these innocents will be insignificant is a fool.</i> Something vaguely jihadist about the tone and style of that utterance. I like it. I think it works for you. This is a project that will take 25 years to accomplish, btw.

Cool. That neatly breaks out into a series of five ever-more-successful five-year plans.

And anyone who says that the suffering of these innocents will be insignificant is a fool.

Something vaguely jihadist about the tone and style of that utterance. I like it. I think it works for you.

]]> By: Steve Barry http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163575 Steve Barry Tue, 21 Apr 2009 02:00:45 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163575 The rally may FINALLY be over...I believe it will be the biggest sucker's rally ever. Put/calls still near decade lows...II Bulls near 2 year highs...USD near 3 year highs (and killing foreign earnings)...Carl Weinberg calling for "historic market drop"...Reggie Middleton naming the riskiest bank...Insider selling goes vertical last week. Am I forgetting anything? The rally may FINALLY be over…I believe it will be the biggest sucker’s rally ever. Put/calls still near decade lows…II Bulls near 2 year highs…USD near 3 year highs (and killing foreign earnings)…Carl Weinberg calling for “historic market drop”…Reggie Middleton naming the riskiest bank…Insider selling goes vertical last week. Am I forgetting anything?

]]> By: wisedup http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163572 wisedup Tue, 21 Apr 2009 01:42:42 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163572 "the world cannot allow the US government to fail" -- they can do nothing to prevent it. "simply nothing like the Depression" -- got that right -- care to estimate how much of the current stimulus goes to consumption and how much goes to effective "new production"? Unless the top investors/owners decide to change the ways things are structured, the needed change will not occur. The Depression really only ended with WWII -- Roosevelt was able to pick some extremely low hanging juicy fruit such as the Interstate but fundamental change only came with the war. "a lot more complicated" means don't bet on it. “the world cannot allow the US government to fail” — they can do nothing to prevent it.
“simply nothing like the Depression” — got that right — care to estimate how much of the current stimulus goes to consumption and how much goes to effective “new production”? Unless the top investors/owners decide to change the ways things are structured, the needed change will not occur. The Depression really only ended with WWII — Roosevelt was able to pick some extremely low hanging juicy fruit such as the Interstate but fundamental change only came with the war.
“a lot more complicated” means don’t bet on it.

]]> By: wunsacon http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163570 wunsacon Tue, 21 Apr 2009 01:30:19 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163570 >> he was merely a misdirected socialist/liberal/ pinko/nutjob but basically ok…and then I find out he’s a video gamer! Hey Brucey, my ears are burning! ;-) (Well, I've been too busy to play much the past year. Bought Team Fortress 2 a year ago and still haven't installed it.) >> he was merely a misdirected socialist/liberal/ pinko/nutjob but basically ok…and then I find out he’s a video gamer!

Hey Brucey, my ears are burning! ;-)

(Well, I’ve been too busy to play much the past year. Bought Team Fortress 2 a year ago and still haven’t installed it.)

]]> By: franklin411 http://www.ritholtz.com/blog/2009/04/turnaround-lesson/comment-page-1/#comment-163561 franklin411 Tue, 21 Apr 2009 01:00:17 +0000 http://www.ritholtz.com/blog/?p=24007#comment-163561 @wunsacon: We still have one more bite at the TBTF apple imo. The world cannot allow the US government to fail, and IMO it's smart to max out the credit card to fundamentally re-center America's economy on production rather than consumption. It's a gamble, sure...but it's our last shot. This is a project that will take 25 years to accomplish, btw. @usphoenix: This is simply nothing like the Depression. From 1929-1931, Hoover cut government spending and increased taxes. There was virtually no social safety net, and the Fed was vigilant against inflation, not deflation. Hoover does get a bit of a bum rap on this: he was only doing what most Americans would have said was the thing to do. @wisedup The admin has said time and again that recovery is a lot more complicated, and a lot more of a process, than simply restoring growth. @wunsacon:
We still have one more bite at the TBTF apple imo. The world cannot allow the US government to fail, and IMO it’s smart to max out the credit card to fundamentally re-center America’s economy on production rather than consumption. It’s a gamble, sure…but it’s our last shot. This is a project that will take 25 years to accomplish, btw.

@usphoenix:
This is simply nothing like the Depression. From 1929-1931, Hoover cut government spending and increased taxes. There was virtually no social safety net, and the Fed was vigilant against inflation, not deflation. Hoover does get a bit of a bum rap on this: he was only doing what most Americans would have said was the thing to do.

@wisedup
The admin has said time and again that recovery is a lot more complicated, and a lot more of a process, than simply restoring growth.

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