Comments on: 10 Links for Thursday http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 16:48:23 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Onlooker from Troy http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-2/#comment-207079 Onlooker from Troy Fri, 21 Aug 2009 04:56:02 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207079 Interesting IMan. This China thing could just be the trigger to bring the hard slap of reality back to the markets; at least for a while. Damn, I knew I should taken those short positions today! :) I'm not long either though. Cash Interesting IMan. This China thing could just be the trigger to bring the hard slap of reality back to the markets; at least for a while. Damn, I knew I should taken those short positions today! :) I’m not long either though. Cash

]]> By: I-Man http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-2/#comment-207075 I-Man Fri, 21 Aug 2009 04:22:11 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207075 Nice... and so is wtic http://www.bloomberg.com/markets/commodities/cfutures.html Nice… and so is wtic
http://www.bloomberg.com/markets/commodities/cfutures.html

]]> By: I-Man http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207073 I-Man Fri, 21 Aug 2009 04:20:20 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207073 Yall see this shit? Looks pretty big time. Asia is getting whacked right now... http://www.bloomberg.com/apps/news?pid=20601087&sid=aBz5u5ki3WHQ http://www.bloomberg.com/markets/asia_index.html Yall see this shit? Looks pretty big time. Asia is getting whacked right now…

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBz5u5ki3WHQ

http://www.bloomberg.com/markets/asia_index.html

]]> By: Onlooker from Troy http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207055 Onlooker from Troy Fri, 21 Aug 2009 03:18:05 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207055 I hear you. I rarely watch TV but my wife is a movie and TV addict so we get a lot of value out of DirectTV with TIVO (sans any premium channels though). I remember that movie. I'm sure we're going to see a lot of that kind of sentiment and tone times 10 in the movie culture over the next few years. This "recovery" is going to be a brutal, grinding period that most people just don't comprehend yet, I'm sure. Except the many who've already hit the skids, of course. But there's a large section of our nation that just doesn't get it, still. I hear you. I rarely watch TV but my wife is a movie and TV addict so we get a lot of value out of DirectTV with TIVO (sans any premium channels though).

I remember that movie. I’m sure we’re going to see a lot of that kind of sentiment and tone times 10 in the movie culture over the next few years. This “recovery” is going to be a brutal, grinding period that most people just don’t comprehend yet, I’m sure. Except the many who’ve already hit the skids, of course. But there’s a large section of our nation that just doesn’t get it, still.

]]> By: Mannwich http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207052 Mannwich Fri, 21 Aug 2009 03:09:56 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207052 @Onlooker: I thank God (and I'm not even religious) for sports and the Internet. I would cancel my DirecTV if wasn't for my desire to watch sports as my sole form of "escapism". Otherwise, I'd probably turn into the Michael Douglas character in "Falling Down". I never watch anything but sports and some shows on HBO anymore. Some nights the TV never gets turned on. Someday I may just cancel it. They keep raising prices somehow in a Depression and someday I'm going to pull the plug entirely and just do everything on the Internet. @Onlooker: I thank God (and I’m not even religious) for sports and the Internet. I would cancel my DirecTV if wasn’t for my desire to watch sports as my sole form of “escapism”. Otherwise, I’d probably turn into the Michael Douglas character in “Falling Down”. I never watch anything but sports and some shows on HBO anymore. Some nights the TV never gets turned on. Someday I may just cancel it. They keep raising prices somehow in a Depression and someday I’m going to pull the plug entirely and just do everything on the Internet.

]]> By: Mannwich http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207050 Mannwich Fri, 21 Aug 2009 03:07:21 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207050 @Onlooker: Some poor hoagie-maker just lost his minimum wage job because that McAfee guy pissed away $96MM on frivolous activities. What in the world would our economy do without those jobs? The thing is - - what too many people don't understand STILL is that none of us were as "rich" as we thought. Trading worthless paper and overvalued homes is not a path to prosperity for the many and certainly wasn't for the many bag-holders. Until we get through out thick skulls, the cognitive dissonance will continue. @Onlooker: Some poor hoagie-maker just lost his minimum wage job because that McAfee guy pissed away $96MM on frivolous activities. What in the world would our economy do without those jobs?

The thing is – - what too many people don’t understand STILL is that none of us were as “rich” as we thought. Trading worthless paper and overvalued homes is not a path to prosperity for the many and certainly wasn’t for the many bag-holders. Until we get through out thick skulls, the cognitive dissonance will continue.

]]> By: Onlooker from Troy http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207051 Onlooker from Troy Fri, 21 Aug 2009 03:07:21 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207051 I know EXACTLY how you feel man. I can't even watch the news much or listen to many things out there, because, as you said, the cognitive dissonance is overwhelming. And it just pisses me off, so I avoid it. Bad for the blood pressure. There's not much useful info there anyway. The let down will be huge and the disappointment will cause a backlash on Obama. Their confidence game will backfire. I know EXACTLY how you feel man. I can’t even watch the news much or listen to many things out there, because, as you said, the cognitive dissonance is overwhelming. And it just pisses me off, so I avoid it. Bad for the blood pressure. There’s not much useful info there anyway.

The let down will be huge and the disappointment will cause a backlash on Obama. Their confidence game will backfire.

]]> By: Mannwich http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207048 Mannwich Fri, 21 Aug 2009 03:03:21 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207048 @Onlooker: But the economy is "rebounding" or "recovering". Suuuurrrre, it is. We're in like the 2nd or 3rd inning of an extra inning affair that could get halted/suspended due to curfew rules and started up again at another time. Pull up a chair, put some popcorn in the jiffy popper, and keep some powder dry. @Onlooker: But the economy is “rebounding” or “recovering”. Suuuurrrre, it is. We’re in like the 2nd or 3rd inning of an extra inning affair that could get halted/suspended due to curfew rules and started up again at another time. Pull up a chair, put some popcorn in the jiffy popper, and keep some powder dry.

]]> By: Onlooker from Troy http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207044 Onlooker from Troy Fri, 21 Aug 2009 02:57:02 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207044 Mannwich Holy crap. McAfee sure could destroy some wealth. 96% losses! That's what leverage will do; and investing in Lehman bonds and grossly overpriced real estate. Poor guy's going to have to go back to work. :) And there's this: "If anything, these economists say, any problems the wealthy have will trickle down, in the form of less charitable giving and less consumer spending. " I was going to make a snarky remark about the lack of trickle down. But I didn't expect to see something like that in article. I can imagine where these economists are from (Cato, Heritage, hmmm). I don't begrudge the wealth of hard working, innovative, creative folks that create real wealth productive businesses (Gates, Jobs, etc.). But those who do it through political influence, skimming off of the economy, etc. are just leeches (think the banking and finance industry of the last decade, of course). “We are coming from an abnormal period where a tremendous amount of wealth was created largely by selling assets back and forth,” said Mohamed A. El-Erian, chief executive of Pimco... “You had wealth creation that could not be tied to the underlying economy,” he added, “and the benefits were very skewed: they went to the assets of the rich. It was financial engineering.” Exactly. Leeches, not producers. Mannwich

Holy crap. McAfee sure could destroy some wealth. 96% losses! That’s what leverage will do; and investing in Lehman bonds and grossly overpriced real estate. Poor guy’s going to have to go back to work. :)

And there’s this:
“If anything, these economists say, any problems the wealthy have will trickle down, in the form of less charitable giving and less consumer spending. ”

I was going to make a snarky remark about the lack of trickle down. But I didn’t expect to see something like that in article. I can imagine where these economists are from (Cato, Heritage, hmmm).

I don’t begrudge the wealth of hard working, innovative, creative folks that create real wealth productive businesses (Gates, Jobs, etc.). But those who do it through political influence, skimming off of the economy, etc. are just leeches (think the banking and finance industry of the last decade, of course).

“We are coming from an abnormal period where a tremendous amount of wealth was created largely by selling assets back and forth,” said Mohamed A. El-Erian, chief executive of Pimco…

“You had wealth creation that could not be tied to the underlying economy,” he added, “and the benefits were very skewed: they went to the assets of the rich. It was financial engineering.”

Exactly. Leeches, not producers.

]]> By: Onlooker from Troy http://www.ritholtz.com/blog/2009/08/10-links-for-thursday/comment-page-1/#comment-207040 Onlooker from Troy Fri, 21 Aug 2009 02:41:13 +0000 http://www.ritholtz.com/blog/?p=36088#comment-207040 Taibbi tells the raw truth about health care, and expresses my (and others') frustration with the politics in our nation that makes these things (e.g. health care, Social Sec, Medicare) unfixable. The dualing anecdotes (and outright lies and misrepresentations) from all over the spectrum just make for absolute gridlock. As with our financial system and our national budget, we'll never fix it, and only when we absolutely hit that wall and self destruct will anything be substantively reformed. Until then we'll just keep spirally downward. Happy thoughts, eh? Taibbi tells the raw truth about health care, and expresses my (and others’) frustration with the politics in our nation that makes these things (e.g. health care, Social Sec, Medicare) unfixable. The dualing anecdotes (and outright lies and misrepresentations) from all over the spectrum just make for absolute gridlock. As with our financial system and our national budget, we’ll never fix it, and only when we absolutely hit that wall and self destruct will anything be substantively reformed. Until then we’ll just keep spirally downward.

Happy thoughts, eh?

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