Duty Calls
By Barry Ritholtz - September 28th, 2009, 10:00PM
Macro Notes
We don’t want your help because maybe we don’t need itPeter Boockvar
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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September 28th, 2009 at 10:05 pm
wow-
so true- not that i do that
September 28th, 2009 at 10:57 pm
Now that’s funny!
September 28th, 2009 at 10:58 pm
This blog entry set me back 23 bucks (for the XKCD book). I’m sure it’ll be worth it.
September 28th, 2009 at 11:08 pm
hilarious
September 28th, 2009 at 11:18 pm
I’m gonna go literal on this and bring up something that is just plain wrong.
Can anyone who is a parent please tell me why so many elitists are defending Roman Polanski when he has admitted to drugging and sodomizing a 13 year old child?
Is our society going nuts?
September 28th, 2009 at 11:30 pm
elitist – can you be more specific?
September 29th, 2009 at 12:06 am
Here is something that is just WRONG…the whole cash for clunkers thing. Those who thought it was going to spur buying even after the program were over can come out now and say they were wrong! http://contraryriches.blogspot.com/2009/09/are-we-supposed-to-be-surprised.html
September 29th, 2009 at 12:29 am
@bsneath
“Can anyone who is a parent please tell me why so many elitists(…)”
Who are you talking about?
Are Hollywood people an elite?
September 29th, 2009 at 12:31 am
Hey bsneath — I’m an elitist
.
I also have 14 and 12 year old daughters. Roman Polanski can rot as far as I’m concerned.
September 29th, 2009 at 12:50 am
beaufou – “Are Hollywood people an elite?”
That would be nice wouldn’t it? I live in Hollywood, does that count?
September 29th, 2009 at 12:52 am
http://www.bloomberg.com/apps/news?pid=20601109&sid=aDx_Srx0Sv8Q
“By this measure, the U.S. is still coming up short, he added. That may hurt Obama’s Democratic Party in the November 2010 Congressional elections.”
That resumes what is wrong with our current system.
Electoral deadlines, fuck the unemployed or society for that matter.
September 29th, 2009 at 12:53 am
Both the Washington Post and LA Times columnists defended him. The NY Times wrote a piece that covered what others said but did not criticize his actions. Many of the Hollywood types support him. Fortunately most bloggers and media outlets support his arrest. I ranted before I learned this. Still it is appalling to me that anyone can rationalize his actions.
September 29th, 2009 at 12:59 am
So it’s the columnists who are elitists? Or the “Hollywood types”
“Didn’t criticize his actions” – I’m not sure I could think of a stronger criticism than “pedophile”.
Question for you – how much does this have to do with Roman Polanski really? Sounds to me like this is just an opportunity for you to rant about those “Hollywood EL-eets”. I don’t believe for a second this is really about “the children” for you. Ever wonder who makes all that cheap crap you buy at Walmart?
September 29th, 2009 at 1:30 am
In re: Title
“During the testimony by Tom Woods on Friday, in favor of H.R. 1207, Congressman Barney Frank stepped up to the plate with some hostile questioning. I’ll let Woods give the play by play:
In my opening remarks I added to my written statement, which I wasn’t strictly reading, a phrase for which Barney Frank (D-MA) would take me to task. In my written statement, I noted that the Fed is indeed independent in the sense that it can make trillions of dollars available to unknown friends on unknown terms. I then wrote that I couldn’t imagine any self-respecting American hesitating for a moment to challenge that kind of independence. In my oral remarks, after “self-respecting American” I added the words “who isn’t bought and paid for.”
Note that I wasn’t saying that anyone who opposes HR 1207 is necessarily in the pay of anyone. I was suggesting that people who thought it was just fine for the Fed to have such extraordinary discretionary powers might have a material interest at stake in the question…”
http://www.economicpolicyjournal.com/2009/09/did-testimony-of-tom-woods-come-too.html
~~
beyond that, in re: Toon, are there others who surmise that the ‘voice’, from off-panel, is from dude’s X1000 v1.1 SO Auto-bot?
September 29th, 2009 at 2:03 am
Thor:
Good analysis and comment @ September 29th, 2009 at 12:59 am
September 29th, 2009 at 2:24 am
MA – Thanks, and I guess I was a bit harsh on bsneath. I’m a bit more than annoyed that the word “elite” has somehow been turned into an insult. I want to ask these people who throw that word around; would you rather send your children to an elite school or to the shit-hole in the inner city? Would you rather go to an elite doctor or some guy who got his MD in the Bahamas? The “elite” to me represent the brightest and the best our culture has to offer yet now it’s become an epitaph for left wing liberalism.
You have to wonder if the people who throw that word around really know that it’s the rich and powerful on the right side of the political spectrum who have introduced the term to the masses to stoke class warfare against the rich and powerful on the left side of the political spectrum.
September 29th, 2009 at 2:41 am
Thor,
still w/ the Left/Right paradigm? Start the New Year out right, break those chains, to begin with..
also, you may care to 2x-check your point about http://www.thefreedictionary.com/elite
~~
past that, this http://revolutionarypolitics.com/?p=2631 seemed to be worthwhile.
3 9:30 minute segments, might as well listen to #3 first
LSS: the people will allow to assume the role of ‘elite’, at this juncture, are, sadly for us, not fitting with your definition..
September 29th, 2009 at 6:20 am
the “Elite” in this thread would be more defined as 3: an individual that has cash and found a way to buy his/her own way out of a mess; and with the help of lawyers stay out of jail with that stack of cash
(and in this mentioned case foreign lands and the victim herself)
September 29th, 2009 at 8:11 am
as defined by “Ace” Greenberg def 4: a person of substance
September 29th, 2009 at 8:23 am
@Thor – As a parent with 3 children, I take offense with your cynicism over my motives.
With respect to “elites”, I am referring to the out of touch, arrogant liberals on both coasts who feel they can make up their own rules and who live by a code of hypocrisy. Polanski is just one of many examples . Van Jones, ACORN are others. We neanderthals in the heartlands are really, really angry. You will hear from us in about 13 months. Until then, keep on smirking………
September 29th, 2009 at 8:35 am
Hollywood WAS a bit of a gated community .. to quote a line from the 3 Musketeers “All for One & One for All”
and bsneath me thinks FOX is calling your eyes and ears .. dig dig (-:
cue a MovieTone Oldie
http://en.wikipedia.org/wiki/Movietone_News
September 29th, 2009 at 8:46 am
bsneath:
With the crimes blatantly perpetrated against our populace, our Constitution, and our way of life by the Right wing/Republican cabal (a.k.a: “Conservatives”) over the past 30 years, you have to be wearing blinders to make such accusations against liberals. The only person I know who smirks is Dick “the Dick” Cheney (torture, fraud, treason, to name a few), yet you get your little pink undies in a knot over liberals.
Roman Polanski is you own personal straw man and you use him as a wedge to come in here and derail the topic. Having children does not qualify your political comments.
Tell me what Van Jones did, and for purposes of comparison, I’ll tell you what the likes of the Right wing did.
You started this OT shit, now you are going to be called out on it. The commenters here aren’t stupid enough to eat the BS you’re dishing out.
Your “heart land” comment is telling. I guess by that, you mean the “real” America. I’ve got a news flash for you: The “real” America is made up of people who you despise. I hope that fact eats your guts out.
September 29th, 2009 at 9:04 am
13 months………..
September 29th, 2009 at 9:05 am
Wilbur Ross on CNBC compairing commodities of Gold and Oil .. can’t decide which it more glittery
….
total opposite ends of the spectrum .. Gold is Elite .. Oil is a Must Have …. I know he was goat’g me
September 29th, 2009 at 9:11 am
conservatives, liberals, republicans, democrats, libtards, commie pinkos, right wing nuts, religious freaks. they’re all part of the same money leeching, step on your brother’s back to climb to power corporatist oligarchy that continues to firmly entrench their dominance over our country every day that goes by. they play by the same rules and use the same tactics they just have a different agenda. in other words they all suck.
September 29th, 2009 at 9:14 am
bsneath good luck with that.
September 29th, 2009 at 9:17 am
@bsneath
You have the right to be angry, but Polanski and Van Jones?
Has a parent, you could also be foaming at the mouth over all the young individuals killed in action in Iraq. A war started under false pretenses by a smirking character afore mentioned.
Or if you are worried about children and sex, there is more to life than Roman Polanski:
http://www.pbs.org/now/shows/422/index.html
The Fox crowd are crowing about the special treatment of “liberal” celebrities, meanwhile, what are they doing all day?
Is Terry Chiavo making a comeback soon?
September 29th, 2009 at 9:19 am
bsneath Says:
September 29th, 2009 at 9:04 am
13 months………..
_____
And then we’ll elect . .
Palin? Huckabee? Cheney?
While the two party system sucks, and the Dems aren’t very good at walking the walk, the Republican Party has nothing to offer but buffoons.
No stem cell research, Christianity being taught in schools (and the easily disproved myth that we were intended to be a “Judeo-Christian” nation), creationism as science, Xenophobia as foreign policy, enrichment of entrenched interests, spying on the citizenry, failed monetary/economic policy (requiring massive bail-outs), etc . . .
The “real” America has had enough of the buffoonery.
September 29th, 2009 at 9:38 am
my own 9.17
“Has a parent”
geeez, it hurts the eyes, sorry about that.
September 29th, 2009 at 10:04 am
Rikky – I am seriously beginning to come around to your perspective. I would only suggest that it is not just corporate, but also government and not for profit.
Folks think about it. This great recession has exposed far more fundamental issues than the typical diatribe between liberals who hate Bush and conservatives who hate Obama.
It is pretty much a complete and total collapse of values in our society.
I’m gonna get mine and screw everyone else.
The end justifies the means.
Rules are for the other guy, but not me.
Something is very rotten in our society. You can boil it down to basic concepts such as integrity and honesty that are grossly lacking.
I suspect it has contributed to our society’s economic decline. Please tell me who or what organization in our global economy is going to do business in the future with individuals or institutions that they do not trust? That they cannot even trust to have the integrity to stay a going concern, because those within are more intent upon personal financial gain then the survival of their organization?)
Was Madoff a fluke or is it indicative of something far more endemic? Was the destruction brought on by investment banks just the result of Greenspan’s lax interest rate policies, or is it indicative of something far more endemic? How about Enron? Pfizer? Intel? How about Purdue Pharma who misrepresented the addictive characteristics of Oxycontin, a drug that has been implicated in the deaths of tens of thousands of our youth?
Who is going to develop alliances with a government it cannot trust? One that is beholden more to the special interests who are financing its hold on power rather than to the interests of general welfare?
This is not a Bush vs. Obama kind of dialog. It is not about one’s moral belief systems. This goes far deeper.
What kind of a civilization do we want to live in? Are we going to live in society that is governed by values of honesty, integrity and equal opportunity, or are we going to accept a society where it is OK to lie, cheat and steal (if but for the correct cause) and where some people are deemed to be “more equal” than others (because they know what is best for the masses or because they know how best to manipulate the system)?
And how does this relate to the Polanski episode? A man drugs, rapes and sodomizes a 13 year old child and then flees prosecution. Yet columnists for the Washington Post, LA Times and others cry foul. No, I do not want to live in a society where the rules are different for a successful movie director than they are for everyone else.
What type of a society do you want to live in?
September 29th, 2009 at 10:14 am
nice is “out” … for now … ebb tide (nice song)
Leave it to Beaver for Desperate HJousewives
Not for Profit .. unUSAs new growth industry .. Save the _____ (cut in me/mine)
September 29th, 2009 at 10:41 am
I’ve been told animals see in black & white .. so I believe it (for some reason)
now that I’m older and un-wiser .. I wonder if there was a cause for that study ..
like Save Hunters Rights or World Livestock Association
or some religious statement that Humans are top of the order
September 29th, 2009 at 10:53 am
I see someone has drank plenty of the breakfast koolaid today.
Mmmm….tastes like freedom….
LOL
September 29th, 2009 at 10:55 am
Greg0658 Says:
“I’ve been told animals see in black & white .. so I believe it (for some reason) now that I’m older and un-wiser .. I wonder if there was a cause for that study … like Save Hunters Rights or World Livestock Association or some religious statement that Humans are top of the order”
__________
The cause is that there are people with vision problems (like being blind). If that’s not a good enough reason, our military would like to be able to see in the dark (how ya’ gonna’ kill a MF if you can’t see him?). Basic science, and worthwhile. And, BTW, it’s true. Some critters have rods (B&W vision) and some have rods and cones (B&W/low light and color/full spectrum light). If you don’t have cones, you can’t see color.
September 29th, 2009 at 11:00 am
What about a society that would have one of it’s two major political parties nominate a man, who while professing to “support the troops”, never found a veteran’s support bill he could bring himself to actually vote YES on.
What about a society that would have one of it’s two major political parties nominate a man who felt the responsible move was to stop his presidential campaign so he could rush back to DC to round up bailout votes….quite mavericky of him there.
What about a society that would invade a sovereign nation in violation of international law based on fabricated intelligence and lies, while at the same time dismantling any financial oversight of our terrorist banksters.
Mmmmm…..good koolaid….
September 29th, 2009 at 11:08 am
bsneath:
Your original comments were targeted directly at liberals. Many of the things you ranted about (“values of honesty, integrity and equal opportunity, or are we going to accept a society where it is OK to lie, cheat and steal”), are hallmarks of conservatism (you can’t get much more honest than pure science, yet conservatives hate pure science). Equal opportunity is not a conservative ideal (nor are honesty or integrity – the idea that America was founded as a “Christian” nation is a great example; the idea that you can cut taxes on the “elite” and business interests, and still have a balanced (honest) budget is another).
The Pax Americana was built on liberal ideology. Without the laws put in place by liberals, your daughters might be working in a coal mine or worse.
You rant about Polanski (maybe it’s because sex was involved), yet you are silent on dead and injured innocents (including many children) that are a result of our actions in Iraq.
What kind of society do YOU want?
BTW: the MSM is controlled by the right. Lock, stock, and barrel.
September 29th, 2009 at 12:43 pm
bsneath,
i don’t know what cave you came out of in the “heartland” there, but i’ve got news for you: lie, cheat and steal has been with us since humans started roaming the earth (for you bible thumpers i guess that would be 6,000 yrs ago), and it’ll be with us until the next asteriod hits (or the 2nd coming of christ in your case). it’s HUMAN NATURE.
What type of a society do you want to live in, you asked? well, for starter, one in which there’s less of this “heartland” dumbness.
September 29th, 2009 at 12:54 pm
Great Comic thx for sharing
Hoffer your revolutionarypolitics.com rec gets flagged by google as a polluted site so ya might be infected
September 29th, 2009 at 1:35 pm
bsneath
http://www.theonion.com/content/amvo/polanski_arrested_on_31_year_old
the second comment is possibly spot on.
September 29th, 2009 at 1:44 pm
@bsneath,
“It is not about one’s moral belief systems. This goes far deeper. ”
I see. This is about imposing Y-O-U-R belief system. Gotcha.
September 29th, 2009 at 2:11 pm
beaufou Says:
It was. Thanks for the laugh.
As for the others, I apologize that my belief system of honesty and integrity is so offensive to you. So I guess it is perfectly acceptable to lie, cheat and steal? …. and apparently violate innocent children as well? – or at least if your are rich and famous? And further it is “dumbness” to think that a civilized human society should act differently and more responsibly than our cavemen brethren?
Well then, I stand corrected. I just didn’t understand how “smart” you folks on the coasts are. Clearly the rest of us peasants are not worthy in the face of your far superior capacity in selective moral judgment and intellectual rationalization.
Jeeeez.
September 29th, 2009 at 2:29 pm
bsneath – My original reply to your post was to prove a point. You have gone far and above the call of duty here.
None of this has anything to do with children or roman polanksi – you took it as an opportunity to make a rather vapid and transparent swipe at people who do not see the world as you do.
You just don’t get it do you? This entire debate has gone right over your head. In your mind we’re defending a pedophile aren’t we?
God, this country is so screwed
September 29th, 2009 at 2:42 pm
bsneath wrote, “We neanderthals in the heartlands are really, really angry. You will hear from us in about 13 months. Until then, keep on smirking………”
O.K. There is one vote for Palin. Who’ll make it two?
September 29th, 2009 at 2:43 pm
Thor and bsneath: ya both have some valid perspectives. I listen to lots of different media so I recognize bsneath as a Fox News hound. Now be4 you attack me sneath I watch FOx and like some of it too but ya sound like sean hannity here. Thor made a well intentioned and valid point and even though the lad may be a liberal, they aren’t always wrong for goodness gracious.
September 29th, 2009 at 2:48 pm
Oh, I wouldn’t call myself a liberal, I’m certainly not an Obama fan-boy by any stretch. Socially, yes, I’m very liberal, kind of hard not to be given who I am as a person (read into that what you like).
To be perfectly clear, my issue is not with being on the left or the right – it’s people on the extremes who I think are a real danger to this country. This is, of course, people who are on the social extremes of the political spectrum. As for government itself, I agree with MEH, there is no difference whatsoever between the political parties in this country today. People who actually believe there is are just not paying close enough attention.
September 29th, 2009 at 2:49 pm
Winston Munn Says: “I see. This is about imposing Y-O-U-R belief system. Gotcha.”
You actually don’t know a damn thing about my moral belief system except for my obvious opposition to pedophilia, or my political belief system except for my contempt for a political process where the rich and powerful yield inordinate power. Rather you are categorizing me as a right-winger perhaps because I do not succumb to leftist group-think ideology (and probably because I likely insulted you with my “out of touch liberals making up the rules” rant earlier) .
Clearly I have misgivings for having voted for someone who apparently is not who he represented himself to be as a candidate (and for which I accept full responsibility that I should have known better since a leopard doesn’t change its spots).
No, I am “moderate independent”. You know, the ones who oftentimes determine who gets elected and re-elected.
I am not imposing any belief system other than what I think is an obvious belief that in a civilized society one does not lie, cheat or steal, and that no one should be above the law regardless of how rich, powerful, gifted or connected.
If you wish to debate on these principals, then lets have ago at it.
September 29th, 2009 at 3:00 pm
“You actually don’t know a damn thing about my moral belief system”
Hah!
“I just didn’t understand how “smart” you folks on the coasts are”
“a complete and total collapse of values in our society.”
“arrogant liberals on both coasts who feel they can make up their own rules and who live by a code of hypocrisy”
“please tell me why so many elitists”
“We neanderthals in the heartlands are really, really angry. You will hear from us in about 13 months”
This is like shooting fish in a barrel.
BSneath – Let me put it in plain english so you can understand the point here. The minute you brought in the term “elites” and started mentioning “smart people on the coasts” you identified yourself as a right wing nut-job. Whether or not this is true – you might want to pay closer attention to the words you use in the future. Especially here. You may be able to get away with that sloppy kind of logic where you live, but here we’re going to call you on your bullshit. Take it or leave it.
September 29th, 2009 at 3:43 pm
Sorry folks,
I do not watch FOX because it is obviously biased to the right just as is MSNBC is to the left. (Believe it or not, I have found CBS to be the most objective recently)
No, I would not vote for Palin, she lacks experience and represents the Christian conservative part of the Republican Party that does in fact wish to impose morals upon others.
Thor, my sarcasm got away from me – but it was directed at making a point with other responders, not with your theme on elitism.
Thor, the elitist class and the best and the brightest are not always one in the same. There are many elites of inherited wealth or name.
The best and brightest are truly the ones who make a difference in society. Bill Gates, Sergy Brinn, Michael Jackson, Warren Buffet, to name a few, all have adds immense value and wealth to society in their respective areas.
Having said that, yes I am angry at the best and brightest. Why? Because it appears greed has corrupted this class.
The best and brightest must be held responsible for the economic destruction that we face today. For the same reasons that you put forth in support of the best and brightest, it is disingenuous to blame the financially less-than-literate home buyers for the collapse in housing. No, it was the best and brightest, most clever and articulate investment bankers who were responsible for this morass.
Personal greed reined over ethical business practices. Catering to political agendas rather than responsible business solutions. Yes this country is in very bad shape and I do not see any action being taken to make it better. Once all the damage is done, I predict we will be operating with an economy that is between 15% – 25% smaller than it was two years ago.
One of the causes of the Great Depression was the concentration of wealth. Today wealth concentration is even greater. $30 billion in bank bonuses is going the wrong direction, btw.
How is the middle class and working class going to purchase goods or services when their paychecks are falling and their access to credit has been cut off? Why has the Democratic Party not even bought up this issue? It is because of the greed and the power and influence of the elites who own both political parties.
OK – Everyone blast me and then we can move on to other topics. (Besides, I suspect BR is getting annoyed about now.)
September 29th, 2009 at 4:48 pm
bsneath – point taken, and I’ll concede your point as well. I think you’ve made yourself clear that you’re not a right wing nutjob and that your choice of words (and in all fairness, my own reaction to them) might have been misplaced.
I doubt BR minds the way this thread has evolved. After all, it has been perfectly to the point of the cartoon in the thread
September 29th, 2009 at 5:21 pm
GetALife Says: September 29th, 2009 at 12:54 pm
Does GOOG say what it is ‘polluted’ with?
Haven’t, seemingly, had issues at this end, though, thanks, I guess, for the note~