Tuesday, February 17, 2009
I need to take a break from this market. For now, I will also be taking a break from posting the RO. I've just never had such a struggle and need to go into my own world for awhile.
Could be to the end of this week, could be longer. I'm just gonna feel things out and do what seems right.
I'll continue to post the Tuesday through Friday posts.
Now, let's get one thing out on the table right away... Any dude who throws "Tudor" into his name, if he isn't an asshole, just sounds like one.
If you throw Tudor into your name and you play golf, YOU ARE AN ASSHOLE. It's a law stronger than Newton's Law of Gravity.
I dare any of you to prove me wrong on this. (Note: I don't know if PTJ plays golf, so he may not be an asshole at all.)
Okay, now let's get to the interview.
No... you know what? Forget it. I can't do it. And since my eyeballs have practically been bleeding all weekend due to some ancient virus that my daughter brought home from her filthy nursery school, I can't stand to sit and stare at the screens now and write much about this dude. It's a weakness, but I can't get over the name.
I'll leave you with what struck me the hardest...
PTJ traded through the 1987 crash and Schwager asks him if he believes the crash was "an early warning signal of more negative times ahead." Here is part of Tudor's response...
Everything gets destroyed a hundred times faster than it is built up. It takes one day to tear down something that might have taken ten years to build. If the economy starts to go with the kind of leverage that is in it, it will deteriorate so fast that people's heads will spin. I hate to believe it, but in my gut that is what I think is going to happen.So let me ask you... Has it taken 22 years for our chickens to come home to roost?
I know from studying history that credit eventually kills all great societies. We have essentially taken out our American Express card and said we are going to have a great time. Reagan made sure that the economy would be great during his term in office by borrowing our way into prosperity. We borrowed against the future, and soon we will have to pay.
File this under the always growing "Why Didn't I Think Of This?" category.
Click here to order your own miniature Bernie Madoff doll that you could clobber with a little hammer.
Sounds good... however, since we're now in the Greatest Depression, (thanks in part to fuckaloons like Madoff) I'd suggest that instead of shelling out $100 for this thing, build your own out of toothpicks or something and just use a hammer you already have.