«
»

Less Bad

Email this post Print this post
By Barry Ritholtz - July 7th, 2009, 9:38PM

Too funny

less-bad


PERMALINK

9 Responses to “Less Bad”

  1. David Merkel Says:
    July 7th, 2009 at 11:42 pm

    Too sad, but yeah, funny.

  2. wunsacon Says:
    July 7th, 2009 at 11:51 pm

    Quick math test to ask your financial adviser:

    If the S&P were at 1000 today and were to fall 1% every day, how many days would it take to hit zero?

  3. Kalpa Says:
    July 8th, 2009 at 12:54 am

    Hey,
    Where’d you get that???
    Kalpa
    @Financial News Express
    http://financialnewsexpress.blogspot.com/

    PS Don’t worry, I’ve used plenty of graphs off your site. Glad you liked it!

  4. Simon Says:
    July 8th, 2009 at 1:21 am

    @ wunsacon I know! I know!

    …never would hit zero.

  5. Walther von Reinbach Says:
    July 8th, 2009 at 4:37 am

    after 2 years it’s down to 0,07

  6. Bruce in Tn Says:
    July 8th, 2009 at 7:07 am

    http://www.foxnews.com/politics/2009/07/07/gitmo-inmate-leading-fight-helmand/

    Former Gitmo Inmate Leading Fight Against U.S. in Helmand

    “As U.S. forces are pushing ahead with the massive Operation Khanjar in the southern Afghanistan province of Helmand, Mullah Zakir is leading the Taliban fight against them.”

    …I suppose this has to do with the practical application of power. There are a number of problems that don’t find easy solutions, like Guantanamo Bay. This bubba was released by the Bush administration, not Obama, but the problem is still the same. In the Carter administration, someone thought that too many people were in mental institutions against their will and orders came down from Washington to release many of them. The result? Some people, I suppose, were released who may have gone back to productive lives, but this caused a spike in homelessness and vagrancy…and was commented upon at the time.

    I hope the practical application of theory to this economic mess is being rethought. I don’t think a second stimulus gets us anywhere much. Practically speaking, tax rates must go up nationally as they are going up in states and cities..and putting more money into the individual workers pockets, LONG TERM, not as a gimmick, would be most beneficial in my opinion..

  7. Bruce in Tn Says:
    July 8th, 2009 at 7:13 am

    http://www.nytimes.com/2009/07/08/business/economy/08deficit.html?_r=1&ref=business

    Staggering Budget Gap and a Reluctance to Fill It

    “The magnitudes are very worrisome,” said John B. Taylor, a former member of the Council of Economic Advisers under the elder President Bush and now a professor at Stanford.

    Like his fellow deficit hawks, Mr. Taylor is particularly concerned about inflation. Absent sustained and robust economic growth, the only way for the United States to pay down its debt is to cut spending or raise taxes — both politically difficult. That may tempt the government to take a seemingly easier course: print money to pay the bills.

    ….too late, temptation time is over…we’ve succumbed…

  8. Bruce in Tn Says:
    July 8th, 2009 at 7:16 am

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aqA9QhRSNeqM

    Yuan Deposes Dollar on China Border in Sign of Future

    July 8 (Bloomberg) — Huang Xinyuan, who sells mining equipment and pesticides to customers across China’s border with Vietnam, says he no longer wants payment in U.S. dollars and prefers the yuan.

    Sales using the greenback at Guangxi Jinbei Group, where Huang is vice president, dropped to 30 percent of contracts in 2008 from 87 percent in 2007. The yuan, which has gained 21 percent since it was allowed to strengthen against the dollar starting in 2005, offers greater stability, he said.

    “In recent years, the dollar has gone in only one direction and that is down,” said Huang, 45, in his second- floor office in Pingxiang, a town set amongst karst limestone hills and sugar-cane fields in China’s southwest Guangxi Zhuang Autonomous Region, three kilometers (1.9 miles) from Vietnam. “Settling our orders in yuan removes a major risk.”

  9. cvienne Says:
    July 8th, 2009 at 7:41 am

    @Bruce in Tn

    “Huang Xinyuan, who sells mining equipment and pesticides to customers across China’s border with Vietnam, says he no longer wants payment in U.S. dollars and prefers the yuan.”

    This falls into the “better be careful of what you wish for” category…

    There is more than anecdotal evidence that China’s so-called INVESTMENT is simply a mirror of the economic bubbles that America blew with equity markets in the 90’s and Real Estate on the ’00’s…

    Was it Confucius who said “Man in room full of bubbles need to beware of pricks”…