Wednesday, September 17, 2008

Pink Floyd, "Money"

If the keep printing money at the current rate, by the end of the year this song will be 42 minutes long. True story.

The End Of America?

Found this over at "the Fly's" place. Scary stuff.

He talks about hyperinflation in the Weimar Republic. Interesting.

People are getting angry. They will get even more angry before this is all over. They were just talking about it on Lou Dobbs... the first 5 months of taxes you pay each year goes to paying off the INTEREST on our national debt.

I just put my daughter to sleep. By the time she's paying taxes, it doesn't seem like there will be any funds left to pay for things like infrastructure, or education, or (gasp!) our War Machine. All of her taxes will go to paying off interest on a debt that can no longer be repaid.

She deserves better.

So let's do this right. Follow this link, find your representative, and tell them you're sick of this shit.

NOTE: Oh, and while I'm pissed off, I wanted to just remind everyone of something... remember when Dennis Kneale said stupid shit like we were "talking ourselves into a recession?" Seriously... let's get some real financial journalists please. Perhaps if our airwaves weren't filled with propaganda, regular people could get back involved in the process and take interest in the country.

The RO Report, "Short Sellers Are To Blame" Edition

Seriously, if these fucks think that short-sellers are to blame for the market malaise, then they have serious responsibility issues. I blame Danny.

Short sellers didn't cause these companies to over-leverage and take on shitty loans.

And nice timing, really, because after the market is down 900 points, in two days, we're due for a nice relief rally. So the regulators will look like geniuses, at least for a day.

Moving on... For those not actively trading the market, just know that the market ran 200 points from 2pm to 3pm, and then dropped 300 between 3pm and 4pm. That's not normal. The bulls tried... perhaps tomorrow they'll try harder.

Once again, the RO kicked ass. And once again, most of the gains came after 3:30. Out of 22 traders today, an astounding 21 finished gross positive, or 95%. 18 traders finished over $1,000 gross. I was #10 of 22, or nicely green.

If you're interested in joining the RO, shoot me an email. We're always looking for active traders with their Series 7 license. If you don't have the 7, or care to study for it (about a month) then don't bother writing.

Also, congrats to "Trader D" for his nice comeback after yesterday's smackdown... and also to "Trader V" for kicking ass and making the top 5.

Anyway, here are today's "bosses":

1. Trader D, $30,741 on 1.3 million shares traded.
2. Trader A, $22,264 on 244k shares traded.
3. Trader B, $20,413 on 857k shares traded.
4. Trader V, $13,168 on 109k shares traded.
5. Trader E, $9,262 on 284k shares traded.

And their manservants:

1. Trader N, -$3,716 on 35k shares traded.
2. Trader 3, $172 on 2,000 shares traded.
3. Trader L, $343 on 31k shares traded.
4. Trader G, $825 on 96k shares traded.
5. Trader O, $1,005 on 24,800 shares traded.

What If The Government Saved The World And No One Cared?

That seems to be the case today. With Goldman down 40%, MS looking like it's going to $10, what are they going to do now?

Is everyone hoping a big bank comes in and buys the remaining brokerages?

Really? Which big bank?

I wonder what would have happened if BSC was allowed to fail. Would we have seen serious deleveraging these last few months? Yes, it would have been painful, but would it have ended up saving more of these companies?

Bed, Bank of America, & Beyond

Inside The Emergency AIG Bailout Meeting

More on the bailout here.