Metzenbaum Scissors

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    • Sun Oct 19th 21:16 PM
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      Commented on:
      Things Aren't as Bad as They Seem - Barron's
      << $80 crude produces an 'energy dividend' of about $170B >>

      No, it doesn't. The $170B spent somewhere else. How is that a benefit?

      It isn't.
      View article »
    • Sun Oct 19th 14:22 PM
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      Commented on:
      Will the Market Break Its October 10th Lows?
      With all respect, not a fact, just an opinion, gold is being sold to raise dollars which are funnelled into US Treasuries... .
      View article »
    • Fri Oct 17th 10:14 AM
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      LIBOR Shows Worst Is Yet to Come for Credit Markets
      Great primer for those not familiar with OIS and LIBOR. Recall when no one knew what CDO meant? Watch for LIBOR and OIS on the Christmas cocktail parties. In Peoria.

      As for your first choice of investment, Treasuries. Sure, they appear safe, with a negative return. Personally, I have loaded up on Canadian Gov't bonds. I don't feel much comfort in the long term trend of the US$.
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    • Fri Oct 3rd 16:40 PM
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      Commented on:
      The Real Reasons Fertilizer Stocks Are In the Dirt
      Gentlemen,
      Who doesn't get that it was over last week?

      The rush to the exits ... began.

      The prospects for ANY company's equity price are bleak. Get it? Bleak.

      For your sake, stop looking at a leaf, and see the forest is a smoking hole.

      If it wasn't enough for one to see AT&T was relying on OVERNIGHT financing last week to maintain treasury operations, then no amount of bad news will make it clear.

      Disclosure: 100% double inverse index.
      View article »
    • Thu Oct 2nd 21:37 PM
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      Think of These as Short-Term Troubles
      IThinkBig--- yes, yes, yes.
      Nanny is Washington won't be there to give you back 80% of the largesse you send to them. No longer are you too stupid and greedy to decide where your money will go.

      Adios, politicos. Don't let the door hit you in the arse on the way out.

      And turn out the lights, parasites.
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    • Thu Oct 2nd 08:43 AM
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      Gold Bulls: Beware
      Oh yeah.

      As a foreigner looking at the actions (manipulation is such a loaded word) of the treasury, Fed and Bernanke/Paulson, this image of instability does nothing to make me want to put my money anywhere near American equity markets, or $ denominated assets.

      Uncertainty + arbitrary, sudden, capricious rule changes = ungood.
      View article »
    • Mon Sep 29th 09:52 AM
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      US, UK, and Germany Compete to Nationalize the Most Banks
      ITS A PANIC!!!


      SELL!!!
      View article »
    • Sun Sep 28th 19:32 PM
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      The Deal's Getting Done, But Will It Work?
      Freedom is what created America, and made it great..

      Putting financial expedience ahead of freedom is wrong.

      Get the federal government out of the market.
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    • Sun Sep 28th 09:07 AM
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      Wall Street Bailout: Making a Deal With the Devil
      Sigh.

      You are correct. The economy won't collapse. The horrid financial architecture on Manhattan Island will collapse, and 300 million American ought to say bye-bye, not buy-buy.

      The government aided in the creation of this wealth generating machine and now they want another transfer of wealth.

      Poor, poor America.
      View article »
    • Fri Sep 26th 21:00 PM
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      Commented on:
      Horrid Data: Housing, Jobs, Durable Goods
      Gentlemen, relax your sphincters.

      The 'bailout-as-trash-tabl... is getting stale.

      While this is the end of American hegemony, on the 'day after', a farmer somewhere will have eggs to sell to someone with dollars. And so on.

      Price discovery will reveal what things are worth, just like always. Maybe Manhattan will be a metaphorical smoking crater, so? They screwed up and it's time for reversion to mean.

      FWIW, CNBC must exist for mouth breathing morons.

      Thanks Mish for your insights.
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    • Thu Sep 25th 10:12 AM
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      The Hedge Fund of America, LP
      There is NO market for toxic debt, otherwise it could be sold. Your government is the ONLY buyer. The ONLY buyer.

      So, will it be purchased for mark-to-market?

      For book value?

      For purchase price?

      Wake up America. Paulsen gets $700,000,000,000 to spend without recourse.

      It's just wrong.

      Your entrepreneurial culture of bootstraps and gumption and is as strong as ever. The will is there, but there is no longer a way.

      The light at the end of the tunnel is the train coming at you.

      Sic transit gloria.
      View article »
    • Mon Sep 22nd 07:20 AM
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      Commented on:
      The Bailout to End All Bailouts
      Too big to fail?

      Too big to exist.

      View article »
    • Thu Sep 18th 09:26 AM
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      U.S. Records Another Huge Current Account Deficit
      Rabble,
      China is a polluted prison filled with illiterate peasants trading their miserable agrarian subsistence for a slightly less miserable (but still Dickensian) 'life' on an assembly line on the coast.
      PJ O'Rourke paraphrase on Purchasing Power Parity: saying the Chinese quality of life is in any way gaining on ours is like saying you can have a better house in a crime-ridden, crack district. Yes, it's a better house, but most folks would not choose it.

      I think you over-estimate internal Chinese demand for 99% of their population. The rich 1% want to buy anything but tainted food, counterfeit brake pads, soy sauce made from hair, etc,
      View article »
    • Wed Sep 17th 21:35 PM
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      Commented on:
      Deflation Takes the Reins
      "printing money like crazy"

      Can you reference that, please?

      It's here: www.federalreserve.gov.../

      Percent change at seasonally adjusted annual rates M1 M2
      ----------------------...
      3 Months from May 2008 TO Aug. 2008 7.1 1.5
      6 Months from Feb. 2008 TO Aug. 2008 2.8 3.4
      12 Months from Aug. 2007 TO Aug. 2008 1.6 5.4

      Unless THE FED IS LYING !!!
      View article »
    • Wed Sep 17th 21:24 PM
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      Commented on:
      U.S. Records Another Huge Current Account Deficit
      If your dumb-a** leaders insisted the Chinese buy a dollar of US goods for every dollar they sell here, and all their containers were inspected, it would accomplish two things: balanced trade deficit and a whole lot less drugs on US streets.
      China needs America; America can get on without China... so why the kowtowing?
      View article »