As noted earlier in comments, its hard to guess the true source of this headline:

• U.S. Recovery That’s Leaving Workers Jobless May Add to Company Profits

“Employers kept Americans’ working hours near a record low in August, signaling that economic growth is poised to reward companies with added profits while postponing any recovery in the job market.”

The answer is whited out — highlight the following to find the real source:

Bloomberg

http://www.bloomberg.com/apps/news?pid=20601109&sid=aN8Zh1qEkeSw

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

79 Responses to “Headline Source: Bloomberg or the Onion?”

  1. PrahaPartizan says:

    No, it’s not hard to “guess” which publication is the source. It’s Bloomberg, and the folks who wrote it are proud to announce their conclusion and recommendation on what to do going forward. I’ve heard only a few people at Bloomberg express concern about this “recovery” not being sustainable and the “new normal” just might lead to revolution. Most of the perma-bulls over at Bloomberg think this situation described in the blog post is just dandy. We don’t need to even consider The Onion for this one.

  2. torrie-amos says:

    So what is new, Stupidity is now mainstream and no longer segregated per income. If this is the best and brightest, from writer too editor, either they believe or they feel they have too write something 24-7 so any rumor or ill conceived thought is game on, as long as one person said it, it is news.

  3. Onlooker from Troy says:

    LOL Very clever Barry.

    It does indeed read like an Onion piece, as do all too many things lately. I need to start collecting them.

  4. Onlooker from Troy says:

    These people are delusional if they thing they get a sustainable stream of profits on the basis of this “cost cutting” (or my favorite euphemism of late: “reducing human resource capacity”). I know it’s the favored bull market thesis for the Birinyi/Wesbury crowd. Their mouths are watering at the big fat profit margins that are going to pull in the huge profits when the revenues going shooting up in this V shaped recovery. In the mean time the biggest consumers in the world are flat on their back and the debt ball and chain just gets heavier. Good luck with that.

  5. Onlooker from Troy says:

    Trader Mark: Job Seekers Across America Willing to Take Substantial Pay Cuts

    “If corporations I invest in can continuously shed workers and cut back their wages, or rehire new people at lower wages (of course we’re just talking about the drone bees, the queen bees don’t face such difficulties), that only increases profits. It is anti Henry Ford, who believed workers in the 1910s+ should make enough of a wage to afford the things they build. That’s SO old school – we have a new paradigm now.

    The new paradigm can work for a while – until eventually you cut out so much ability of the US workforce to spend … well then they have to turn first to their house ATM and then when that game ends, to the government, for handouts to maintain their standard of living. Which is the stage we are at now. Except no one wants to admit it… because we’re America and this can’t be happening to us.”

  6. Onlooker from Troy says:

    Rebecca Alvarez Gets a Reprieve From Unemployment

    quote: “Alvarez said her one-month job at the L.A. County Fair will help make ends meet as she looks for another job and builds her own business as a direct seller of automotive-fuel treatments, which she says has the potential to bring in $10,000 a month.”

    You’ve gotta love this kind of optimism, but it’s really a kind of pitiful desperate foolishness, no doubt.

    Yeah, right. She’s going to make 10K per month in one of these scam home business deals. She’s probably put her last dollar into the start up costs. These things must be rampant these days, preying on the desperate unemployed.

  7. this syntax: “Employers kept Americans’ working hours near a record low…”

    is, more than, telling.
    http://www.thefreedictionary.com/syntax

    torrie-amos hits it, above, with: ” Stupidity is now mainstream and no longer segregated per income..”

    and, do not overlook the fact that the first excerpt puts American Citizens in the role the dependent Role of ‘Slave’.
    http://www.thefreedictionary.com/excerpt

  8. Onlooker from Troy says:

    Wall Street Pursues Profit in Bundles of Life Insurance

    Wonderful. The wizards of Wall Street are prowling the gutters looking for more ways to suck at the margins of society to line their pockets. Their going to go into the viatical business and securitize them into bonds. Viaticals have always been a kind of creepy way to make money, even though they can help some people in bad straits with cash flow problems. But you just know that when WS gets their hands on it some unintended consequences will come about.

    quote: “Indeed, what is good for Wall Street could be bad for the insurance industry, and perhaps for customers, too.”

    Go figure. But that’s not important, you know. It’s all about Wall Street profits (they’ll trickle down to the lawn boys and maids, don’t you know).

    quote: “We’re hoping to get a herd stampeding after the first offering,” said one investment banker not authorized to speak to the news media. (as his beady little eyes shifted back and forth above his creepy little smile)

  9. Cursive says:

    Too easy, it was a “can of corn.” I’ve heard that argument floated in several circles. My brother sent me a link to a piece by some guy with Northwestern Mutual. I’ll post the link just because I referenced it, but I don’t suggest it for a read.

    http://xm.etmxi.com/3765/support/A03.asp?i=143770&j=3765&e=1&c=1003&f=0&temp=43335&rating=0&comments=no&address=bullrush888@yahoo.com

    Here’s an excerpt from this so-called analyst, it could have been written by The Onion:

    Increased production will help lift corporate profits from current levels in the second half of the year, with automobiles potentially leading the way as a result of the Cash for Clunkers program. While there is a strong relationship between nominal GDP growth and corporate earnings growth over long periods of time, given earlier and stronger industrial and materials related demand from emerging economies, there is a strong possibility that S&P 500 earnings will outpace GDP expansion over the short term.

    Proponents of a stronger and sustainable recovery argue that corporate cost cutting has paid off as shown by the better-than-expected second quarter profits of U.S. companies. In other words, while second quarter earnings still came in negative on an absolute basis, they surprised analysts on the upside. Moreover, earnings revisions have moved higher as economic conditions have shown signs of improving which should be viewed as a positive development.

    Recent productivity reports are also a disadvantage from the perspective of the unemployed. Gains in productivity and a record average duration of unemployment do not bode well for job seekers. Unfortunately, the faster the increase in productivity, the more moderate the job recovery can be. Over the long run, there is a positive relationship between GDP growth and employment growth. If the magnitude of the recession has caused employers to overshoot cost-cutting, there could be upside surprises in the labor markets.

    While private sector hours have dropped, productivity has increased helping boost corporate profits. Furthermore, the surge in ISM Manufacturing means production is ramping up and that may signal the bottoming of payroll reductions. Significant increases in production may require re-hiring, which will also be boosted by government infrastructure spending.

  10. Onlooker from Troy says:

    It’s also interesting to note that they didn’t once use the word “viatical” in that article I posted. That can’t just be happenstance. I think some influence was brought to bear to veto that word due to it’s deservedly poor reputation. I mean really, what are the odds of the NYT writing an article about WS securitizing viaticals without once using the word?; instead using the phrase, “life settlements.”

  11. Bruce in Tn says:

    http://www.washingtonpost.com/wp-dyn/content/article/2009/09/04/AR2009090400868.html

    Economic Growth Yet to Hit Job Market

    Unemployment Rose in August As Employers Waited to Hire

    By Neil Irwin
    Washington Post Staff Writer
    Saturday, September 5, 2009

    ..Hey, Neil…You goofed on your headline! Let me fix it for you:

    “Economic Growth Yet to Hit Economic Growth!”…….

    …there, all better, and you are welcome in advance….read the article and there ain’t no stinkin’ economic growth in it…so we have corrected things for you! Welcome to TBP!

  12. Onlooker from Troy says:

    Before you know it some seamy investor who bought billions in securitized viaticals would be poisoning the water in NYC or something. I know, paranoid, but the whole concept just conjures up all kinds of really creepy thoughts.

  13. call me ahab says:

    MEH says-

    and, do not overlook the fact that the first excerpt puts American Citizens in the role the dependent Role of ‘Slave’.

    for the “glory of Rome”-

    or in modern day parlance- for the “glory of corporate profits”-

    “I am but a slave”-

    a slave who became a gladiator . . .a gladiator who defied an emperor.

  14. cewing says:

    But isn’t this the point of American capitalism? The corporate profits are increasing and the stock market is going up, so everything’s good, right? Workers are just one factor in the Great Equation – it doesn’t matter how many people are out of work as long as the Dow is in the green.

  15. hrowe says:

    Another moronic saying invented by some idiot economist.

  16. manhattanguy says:

    Don’t you realize Bloomberg is not competing with The Onion and the likes? Seems like they are doing good.

    agree w/cewing.

  17. Bruce in Tn says:

    http://www.cnbc.com/id/32702420

    How and When Will the Global Crisis End?

    “Prominent leaders from all walks of life discuss economic and social issues facing the world. The panel I was asked to moderate focused on world economic growth and was called “How and When Will the Crisis End?”

    Many people here see continued weakness for the world economy. A majority of the audience of European business people said the recovery won’t likely start until 2010, and almost 40 percent believe it won’t be until the second half of next year.”

    …My comment to this to my fellow realists (sorry, Franklin, I meant “pessimists”) is that to say the recovery will begin in the second half of 2010 is so far off in today’s global economy that you’d be just as well to look at tea leaves. If it is not for the western economies trying to deleverage, then it is China’s government trying to force a recovery in what could be termed “reckless overcapacity”… getting back to a time of earnings based on production and not speculation could be far off….

  18. ahab,

    thanks for the kind edit in the excerpt.

    to your point, a valid construction, we should note (LSS:) that, but, for, a few more more willing to “become a gladiator . . .a gladiator who defied an emperor.”, it would not have to be that way/ it could not remain that way.
    ~~
    and, as I, just, noticed, B in T, here: http://www.ritholtz.com/blog/2009/09/how-economists-got-it-wrong/#comment-212471
    September 6th, 2009 at 9:59 am
    “…and the word “oversees” seems wrong for a Pimco manager of money…somehow it brings to mind Charlton Heston being whipped by an Egyptian overseer in a bible classic of some sort..”

    was into that Meme b4 I..

    maybe we’re channeling http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Spartacus ?

  19. bubba says:

    @OT
    i was about to post the article but you beat me to it. these fuckers really never ceases to amaze. how long before we see this headline on the Times: “wave of ‘unexplained’ deaths hitting nursing homes and senior residential communities”

  20. torrie-amos says:

    Thanks Mark for the nod. Why did earnings beat? No one had factored in 30 dollars a barrell in oil, copper prices at five year lows, steel prices falling off a cliff, which all effect the cost part of the equation. For q3 oils at 70, copper has tripled and steel is up 30% from the lows, thus the ability to budget for anything is the same as a year ago, incalcuable. Yet, they know.

  21. Winston Munn says:

    It is difficult to root out the Greenspan Idiocy Effect from the modern financial writer’s mind. We can only try by quoting Greenspan’s illustrious nemesis, economist Ravi Batra.

    From “Greenspan’s Fraud”:

    “A bubble economy is born when wages trail productivity for some time and result in ever-rising debt. Then profits grow faster than productivity gains and share prices outpace GDP growth. However, a time comes when debt growth slows down, and demand falls short of output, resulting in the profit decline and a stock market crash.”

    Using debt as a proxy for wage growth has the inherent limitation of solvency – whether individual debt, corporate debt, or national debt. Without a re-balancing of the wage-productivity gap, we are destined to repeat the debt-bubble cycle over and over until solvency disallows another try.

  22. bubba says:

    or “nurse charged with 100 counts of murder in nursing home tied to boutique ‘life settlement’ brokerage firm.”

    “she seemed to have targeted those who have recently sold their life insurance policies,” said nursing administrators. “were not sure why that is,” they added.

  23. @bubba,

    if We understand that many of that Ilk are Eugenicists, We may ‘cease to be Amazed’ and begin to proceed, more Vigilantly, toward the outcomes We desire.

    see: http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Eugenicists

    note, especially, All Clusters — in left-hand margin

    for further: http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Eugenicists+Margaret+Sanger+Planned+Parenthood+Gloria+Steinem
    note the ties to what is foisted upon us as “Feminism”..

    ht tp://ww w.thefreedictionary.com/amazed

  24. beaufou says:

    • U.S. Jobless That’s Leaving Company Profits May Add to Deflating Wages

    “Employees kept Companies’ Profits near a record high in August, signaling that economic growth is poised to punish employees with shrunken incomes while accelerating recovery in the usury market.”

  25. Andy T says:

    You can’t really make that stuff up can you….yeah, corporate America “beat the expectations” by whacking a ton of people. I’m sure that’s sustainable….

    This country needs another “big invention”….what’s the next Internet going to be? What’s the next thing to come along that will cause a radical jump in productivity? Tough to see right now….

  26. Onlooker from Troy says:

    bubba

    We’ll see who wins here, the Wall Street I banks or the insurance industry, who does not want this to take flight. Interesting battle of the lobbyists to come.

  27. Onlooker from Troy says:

    Andy T

    Indeed. That’s the inherent argument of the deficit spending rationalizers (apologists) over the last 2 decades or so. They always say that we’ll grow out of our debt/deficit. That holds water to a point (a point we’re well past, IMO), but once it reaches certain proportions it’s a nonsensical stance that just rationalizes current behavior without need for hard choices or sacrifice.

    We’ve reached levels of debt now which can only be overcome by some kind of great productivity technology that will allow growth well above historical norms. To assume that kind of outcome by some leap of faith is irresponsible and leads to the immoral taking of future generations’ wealth. Of course they still try to baffle us with B.S. and pretend that some complicated macroeconomic reasons make that outcome unlikely.

    Uh huh. Right.

  28. AT,

    with this: “This country needs another “big invention”….what’s the next Internet going to be? What’s the next thing to come along that will cause a radical jump in productivity? Tough to see right now….”

    in the whole, and this, especially, in part: “what’s the next Internet going to be?” you give rise to the Answer to your own Riddle..

    Note, the “Internet”, as we know it, and its Growth, has Governments’ (Federal–all 3 branches+ the ‘unofficial’ 4th(Media), State, and Local) Fingerprints all over it.

    in a different sense, if you want to understand the performance capacity of the Engine, take off its governor, and lose the muffler.
    http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=engine+governors
    http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=mufflers+performance

    or, yet differently, Technology Suppression is not a Theory, it is, quite, sadly, a Fact.

  29. Winston Munn says:

    This part of the headline, “Leaving Workers Jobless May Add to Company Profits” is actually accurate. It depends on new debt.

    In a correctly functioning economy, supply=demand with supply provided mostly by productivity gains and demand as wages + debt. In a healthy economy, there is a constant ratio between productivity and wages – as productivity grows so do wages to maintain the economic equilibrium. But after 20+ years of global wage arbitrage and policies to enrich further the wealthy at the expense of labor, the ratio has broken down. At the height of the bubble, there was a tremendous wage-productivity gap that was filled by the new debt championed by Alan Greenspan as he dumped rational monetary policy in favor of something-for-nothing bubble creation.

    We are witnessing the battle to sustain the bubble economy championed now by the Holy Shit! Trinity Players with Ben Bernanke as Jesus, Larry Summers as God, and Timothy Geithner as “The Beaver”. It is a fight between those who believe that applying more coats of paint will fix the structural cracks in the financial wall and the wall.

    I would bet on the wall.

  30. BSNEATH says:

    It is time to get out of the linear-logic trap.

    The headlines are accurate and our companies are doing what they are supposed to be doing. What is missing from this cycle is the “new demand side”. There is none and there will be none for an extended period.

    Barring some big invention that paradigm shifts us into a new demand growth cycle (would be nice but don’t hold your breath), we will have a “demand substitution cycle” . Either global growth will become so strong as to create new demand for USA goods and services (and resultant jobs), or the dollar will weaken to the point where we substitute domestic goods and services (from our now more efficient companies) for what have become traditional imports. Probably a combination of both.

    Either way incomes will fall for “the group formerly known as the middle class” and the income and wealth disparities between the elite few and the rest will grow. It goes without saying that these are not healthy developments for our nation’s future.

  31. investorinpa says:

    Very interesting look as reported in several outlets about the next bubble Wall Street is cooking up. This one is downright evil in how it is being conducted:

    http://contraryriches.blogspot.com/2009/09/wall-streets-next-bubble.html

  32. Andy T says:

    M.E. Hoffer:

    At a drunken dinner party last night we delved into this discussion about the “post-scarcity” world. What happens when technology shrinks the cost of everything so much that you have a bunch of people with nothing to do….

    Let’s say you get some breakthrough in nanotechnology or whatever that further drives down the cost of manufacturing “things” or driving cars…etc…. What happens when you have an economy where, because of technology, it only takes a small % of the people to supply the “basics”….food, medicine, shelter? What do the rest of the people do? How will their “value” be derived?

  33. BSNEATH says:

    @investorinpa

    It is a bit ironic that all that is left for them to play with is old folks life insurance policies.

  34. MRegan says:

    Too many of the wealthy in this country didn’t generate* the wealth they enjoy and so they must appropriate other’s meager resources in order to fend off the erosion caused by inflation and their own mining of the foundations of the country’s economy.

    That is to say they are stewards of what was created by others. Case in point- the Morgan Stanley boys who looted 3.6 billion from an essentially insolvent operation before its transfer to BoA (or should that be DoA).

  35. Winston Munn says:

    beaufou Says:
    September 6th, 2009 at 12:31 pm

    http://www.nytimes.com/2009/09/06/business/06insurance.html?_r=1

    This is just beyond words.
    Guillotine anyone

    How can you criticize the Republican alternative health care plan like that?

  36. MRegan says:

    WRT viaticals, I suspect that somebody looked at the boomers in their fifties and sixties, did an actuarial comparison to prior cohorts, checked the death rates demographics and sold the idea in house. Some popinjay with no ideas got seduced into thinking it was a great idea, appropriated it as his own-and bam money fountain back on…

  37. AT,

    that’s, exactly, what ‘our Leaders’ have been trying to avoid. That discussion has been occupying /Higher Minds/ for Ages–most seriously, in a related context, since the 1840′s, and, in our context, the ~1920′s.

    The Answer, certainly, does not Profit the /Financiers/(the Fiat Fraudsters)– that much is, easily, discernable.

    For the rest of us, we should wonder, at the minimum, why We have come to equate our Worth to Worthless Tickets, Tokens, and Ticks on a Ledger?

    If We have, in fact, done so, that is the type of Error that should dam us to an Existence, proscribing Us from Life and Liberty.
    http://www.thefreedictionary.com/dam
    http://www.thefreedictionary.com/existence
    see v.2 def. #2

  38. primordial_ooze says:

    I work in biomedical research. Now I know the way to make money! It is to develop secret biowarfare agents, funded by Wall Street, to kill off people so that Wall Street can make more profits! Of course it will have to look like something natural, like the 1918 influenza pandemic, that should be easy.

  39. rootless_cosmopolitan says:

    MRegan,

    “Too many of the wealthy in this country didn’t generate* the wealth they enjoy and so they must appropriate other’s meager resources in order to fend off the erosion caused by inflation and their own mining of the foundations of the country’s economy.

    That is to say they are stewards of what was created by others…”

    And, except maybe with respect to the magnitude, in what way exactly is this different to what almost everyone who is present in this blog here tries to do when he/she trades in the markets?

    rc

  40. Wes Schott says:

    …the rush to securitize viaticals before the H1N1 flu season

  41. MRegan says:

    Reasonable question. My response is that we risk our own resources. And pay the price of failure. You excised the example I pointed to. So additionally, I would include the issue of position. Many individual stock market participants occupy a distinct position relative to those who can draw the most from the flows in the US economy.

  42. Lionel says:

    When I saw this article posted the other day, I was pretty convinced it was the onion.

    http://www.google.com/hostednews/afp/article/ALeqM5h-lr69FOnvU0OiqBVfIKFSlQdtgg

    China schoolgirl aspires to be ‘corrupt official’:state media

    (AFP) – 1 day ago

    BEIJING — A six-year-old girl has become a media darling in China on her first day of school by expressing her aspiration to become a “corrupt official” when she grows up, state media said Friday.

    The young student stated her aspirations in a televised interview that was posted on a southern China website, leading bloggers to describe her comments as “a reflection of social reality,” the Southern Metropolis Daily reported.

    “When I grow up I want to be an official,” said the girl, whose face was blurred to protect her identity.
    “What kind of official?” the interviewer asked.

    “A corrupt official because corrupt officials have a lot of things,” she replied.

  43. Bill in SF says:

    OK, now I’m waiting for the rating agencies to explain how they plan to value these “Death Tranches”… er “Life Settlements”.

  44. MRegan says:

    For Winston Munn-

    The recent Atlantic Monthly has an interesting article on health care and reform. Worth the time:

    http://www.theatlantic.com/doc/200909/health-care

    Don’t worry, it won’t turn anyone into a g-dd-mn pinko! (maybe just a slight blush)

  45. call me ahab says:

    at @ 12:56-

    shorter work weeks- more free time to pursue other interests- less material possessions weighing us down

  46. bubba says:

    @MEH 12:19

    ok, my hofferism is a little rusty. what exactly is the point here?

  47. bubba,

    this: “…these fuckers really never ceases to amaze”, was what I was starting from. filling in the ‘blanks’, as I did, may help explain, some, more of the ‘fount they draw from’..

    w/that, we may ‘cease to be amazed’, understand the difference in motivations, and, if we see fit, stop aiding those destructive to our goals..

    hope that clarifies.. if not, I’ll take another whack at it..

  48. bubba says:

    @MEH

    please do take another whack at it. perhaps i’m just dense. how the hell did we go from greedy bankers looking for another source of easy $$$ to feminism? and WTH does this have to do with eugenics?

  49. Winston Munn says:

    @ MRegan,

    There should be a sequel to “War Games” titled “Health Care Games”: the only winning move is not to get sick.

  50. MRegan says:

    Exactly, Mr. Munn. Just like the principle lesson of history is ‘Don’t lose.’ But please, let’s leave Matthew Broderick out of this. I blame him for Ben Stein.

  51. Onlooker from Troy says:

    ahab

    Indeed, more leisure time would be availed. The question is how do we allow the productivity of society to be spread amongst it’s denizens? How do we allow everybody to contribute something and by virtue of that contribution reap some kind of remuneration that will support them?

    As we have less and less productive work for people of all abilities to be employed in, the wealth distribution continues to be skewed more and more to the few, with more and more at a loss as to how to contribute and reap a decent portion of the total crop. It’s already a problem, and will only get worse. Without going to more socialist mechanisms, how do we cope with this trend? It’s a huge issue and very difficult to tackle. Of course those blessed with advantage don’t worry until the social unrest threatens their peace and ultimately their safety.

    I don’t see any evidence of a new paradigm or even new ideas that addresses this issue. You just get the same dogma from both ends of the spectrum.

  52. Onlooker from Troy says:

    (resubmitted, second attempt, geez – altering the spelling of s0ci@l1st – again – which caused first attempt to be eaten, I believe)

    ahab

    Indeed, more leisure time would be availed. The question is how do we allow the productivity of society to be spread amongst it’s denizens? How do we allow everybody to contribute something and by virtue of that contribution reap some kind of remuneration that will support them?

    As we have less and less productive work for people of all abilities to be employed at, the wealth distribution continues to be skewed more and more to the few, with more and more at a loss as to how to contribute and reap a decent portion of the total crop. It’s already a problem, and will only get worse. Without going to more s0ci@l1st mechanisms, how do we cope with this trend? It’s a huge issue and very difficult to tackle. Of course those blessed with advantage don’t worry until the social unrest threatens their peace and ultimately their safety.

    I don’t see any evidence of a new paradigm or even new ideas that addresses this issue. You just get the same dogma from both ends of the spectrum.

  53. Winston Munn says:

    “But please, let’s leave Matthew Broderick out of this. I blame him for Ben Stein.”
    @ MRegan,

    O.K. We’ll give him the day off.

  54. Onlooker from Troy says:

    Yep, that was the offending word, apparently. Tried first time just replacing the first letter o with @. Didn’t pass. Just FYI.

  55. MRegan says:

    Danke schoen, baby… ; )

  56. call me ahab says:

    onlooker-

    s o c i a l i s t

    f a s c i s t

    m a r x i s t

    c a s i n o

  57. cvienne says:

    @torrie-amos

    “If this is the best and brightest, from writer too editor, either they believe or they feel they have too write something 24-7 so any rumor or ill conceived thought is game on, as long as one person said it, it is news.”

    —-

    “game on”

    Wayne: “Game On”
    Garth: “Game On”
    (Wayne & Garth roll the net onto the street)

    …then, when the “double dip” hits…

    Wayne: “Car”
    Garth: “Car”
    (Wayne & Garth remove the net from the street)

  58. call me ahab says:

    bubba-

    to follow up on your question to MEH- i believe what hoffer was getting at is the “old folk” in the nursing home were “put out of their misery”- i.e. no more reason to live-

    same idea w/ eugenics- to kill off the weak individuals or weak traits with the idea to promote the strong individuals or strong traits- (or what is perceived to be weak and what is perceived to be strong because only evolution determines that in the end)-

    and w/ feminism- the connection was abortion- eliminating life-

    so all are connected- hoffer can jump in and correct me if his thoughts were elsewhere

  59. just got back..

    yes, ahab, thanks again, that was the line of connection..

  60. bubba,

    hope that helps, if not holler out, I’ll add to it..

  61. bubba says:

    @ahab & MEH

    i guess i’m really dense — still don’t see the connection, particularly as it pertains to my original point….that these bankers are driven by greed, simple as that. why can’t we leave it at that…their motivation is greed? what does this have to do with killing off old folks per se. if these wallstreet “geniuses” can devise a scheme whereby $$$ can be made by keeping people alive, you don’t think they’d do it?

  62. BuffaloBob says:

    The viatical “industry” is rife with fraud.
    Finding terminally ill people with long-time level premium term life policies or permanent life policies with significant cash values in today’s low interest rate environment is much more difficult, and riskier than it sounds.
    Viaticals as the next great investment idea has disaster written all over it.

  63. bubba,

    nothing is as simple as ‘making $$$’..

    ‘making $$$’ is a result of an action, or series thereof, no?

    We all know that there are many things (actions) that could be financially rewarding, yes?

    But, We choose–based on our Motives/Morals, yes?

    remember, “By their Fruits, ye shall Know them.”

    or, IOW, “Actions speak louder than Words.”

  64. constantnormal says:

    Simply amazing, the doofuses who are unable to distinguish “huge profits” from “huge profit margins”.

    One would expect these folks to stumble into loosing business ventures at an alarming rate … Oh wait …

  65. Onlooker from Troy says:

    That health care article from The Atlantic Magazine posted by MRegan on the health care issue is really good stuff. It’s not a partisan political screed or a slanted view from a person with a conflict of interest. It’s a well thought out and clearly stated analysis of where we’ve gone wrong and how we can make it better. It’s very thought provoking.

    I highly recommend it. Again, it’s not just political crap that you’ve seen over and over again, so don’t avoid for that reason.

    http://www.theatlantic.com/doc/200909/health-care

  66. Onlooker from Troy says:

    constantnormal

    No kidding. I was thinking that it’s kind of the obverse of the old “we’ll make it up on volume” bit re: negative profit margins. In this case the margins look good but the revs are poor and likely to decrease over time, until the business collapses for lack of interest. :) (Of course the genius analysts, et al are convinced that revs will bounce back vigorously in spite of all the evidence to the contrary; at least that’s what they say, in order to offload stock on the unsuspecting greater fool)

  67. torrie-amos says:

    My GP for the last ten years has said health care is broken, well, I knew there were issue’s yet, I thought he was exagerating. On Bill Moyers last week I saw “Money for Medicine”, a documentary about health care over the last 70 years, quite the eye opener. Until they go the Lasik route, nothing will change. My mom went in for a boil they lanced, i’m sure it cost a few hundred too 20 minutes, no big deal, then they sent a nurse to the house twice a day for three days too change a band aid and put cream on it, they would not allow me to do it. I argued twice I would not allow it, until they said if it got infected any further costs would not be covered, of course I argued I knew what an infection looked like, yet, of course I gave up, cost for nurses 450 dollars for six band-aids. After the first day even the nurses agreed it was ridiculous, so they stopped on the third day.

  68. bubba says:

    @MEH

    “nothing is as simple as ‘making $$$’..”

    you’re wrong hoffer. when it comes to human nature, it is that simple…and especially if we’re talking about wall street bankers. ask yourself what’s more likely: a banker that compromises his “morals” to make more $ or one that foregoes the chance because his bound by them. you’ll note i put morals in quotations…morals can be subjective and malleable. and it’s a very very easy thing to do to compromise ones morals, it’s called “rationalization.”

  69. KidDynamite says:

    We’ll make up for it in VOLUME! BR – I’ve been writing these “is it real, or is it from The Onion?” pieces for a year now – the really sad thing is that you can find multiple headlines like this EVERY DAY.

  70. Onlooker from Troy says:

    torrie

    It is indeed broken, like too many things these days, alas. The Bill Moyers pieces on healthcare have been good too. It’s really so frustrating to see the direction things have taken and how screwed up the incentives are and thus how they’ve distorted so much of healthcare. It’s really starting to feel like the economy at large; so broken and not going to get fixed until it implodes.

  71. bubba,

    this: “w/that, we may ‘cease to be amazed’, understand the difference in motivations, and, if we see fit, stop aiding those destructive to our goals..” from my post @2:20

    was, I think, akin to yours: “…morals can be subjective and malleable. and it’s a very very easy thing to do to compromise ones morals, it’s called “rationalization.””

    though, further, there are those among us, much to our chagrin, or horror, that are highly destructive to the tranquility of our Society. In this context, we’ve come to understand them as ‘Sociopaths’.

    with that, who are they? or where are they? what are their modes of employ? modes of operation? what else do effect/affect/infect?

    and, like that..

    I’m not sure we disagree, though, as you point out, it’s very subjective. with that, we need not agree.
    http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=sociopath

    But, more broadly, We make choices, and, ultimately, We reap what We sow. Is Anyone, really, fast enough to outrun the consequences of their actions?

  72. bubba says:

    jesus h christ hoffer. you know how long it took me to read that post, with all those commas? i hope neither you nor any of your offsprings ever go into civil engineering….all the roads would be riddled with speed bumps. :)

  73. call me ahab says:

    mregan/onlooker-

    great article from the Atlantic- from the article-

    “But fundamentally, the “comprehensive” reform being contemplated merely cements in place the current system—insurance-based, employment-centered, administratively complex.”

    no shit- and if this is how Obama expects to reform things- then he is only looking for a win- not a solution

    then this-

    “Keeping prices opaque is one way medical institutions seek to avoid competition and thereby keep prices up. And they get away with it in part because so few consumers pay directly for their own care—insurers, Medicare, and Medicaid are basically the whole game. But without transparency on prices—and the related data on measurable outcomes—efforts to give the consumer more control over health care have failed, and always will.”

    as i have said before- and i will say again- catastrophic insurance- all in- but all this ridiculous co-pay nonsense- ridiculous-

    the folks need to be in charge of their own care and expense- with help for those unable

  74. cyaker says:

    Let me get this straight. profits are up but wages are down. somebody has said spending will therefore be down as well. I get all that but I don’t understand why nobody is talking about taxes. it seems to me that it follows that U.S. Government tax receipts will be down as well. Who then will pay off this debt that keeps building?

  75. Onlooker from Troy says:

    ahab

    It’s really good stuff, eh? (the healthcare article) Unfortunately I’m afraid we’ll never get there. We’re soooo far from being able to discuss and implement sensible solutions – it’s very aggravating, frustrating and depressing.

    Nothing on the table looks anything like what’s in that article, really. Just more of the same tired arguments.

  76. torrie-amos says:

    agree with u ahab, catasthrohpic is really the solution imho, it’s really all you need