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Blaming Wall Street operators for the current financial crisis is like discovering a fly-blown corpse and arresting the maggots for murder

Pithy obthervation from a sthmall brown muthtelid. More later.

Comments


Comment from Lemur King
Time: September 23, 2008, 10:33 am

Nope. It’s the other way around. Wall street is merely a symptom of something larger. But that doesn’t mean Wall Street couldn’t get pretty bad as a result.


Comment from Muslihoon
Time: September 23, 2008, 11:03 am

Pithy obthervation from a sthmall brown muthtelid.

You became a femme gay man?

Good obthervation, nonethelethth.


Comment from S. Weasel
Time: September 23, 2008, 11:16 am

This kind of thing drives me nuts: Stocks rise as investors track hearing on bailout. Correlation != causation, part the zillionth. How about “Stocks rise as Weasel sips coffee”? “Wall Street responds as Stoaty scratches her butt and stares out the window.”

There’s a family story that my brother and my father were sitting on a hilltop watching the sunset, and my brother was snapping his fingers every few seconds.

“Why are you snapping your fingers, Son?” my father said.
“Every time I snap my fingers,” my brother said, “the sun goes down a little more.”
“You, my boy, are a retard,” my father replied.

I might have just wished that last sentence, though. You know how memory is.


Comment from Rodent
Time: September 23, 2008, 11:27 am

Yes, Weasy, I went bugnuts about that back in ’04.
“Stocks down on Iraq news”.
“Stocks up on earnings data.”
“Down on war fears.”
“Up on Kerry speech.”
Stupid BSM.


Comment from Dawn
Time: September 23, 2008, 11:27 am

From Technorati, I somehow ended up on a Village Voice critique of Sarah Palin and now images of Barney Frank’s butt piracy are running through my head thanks to pnb. And muthtelid from Muslihoon. And pillow biter. Ach! It’s going to be the very gayest of mornings.

Oh, and your astroturf now look like maggots to me.


Comment from Muslihoon
Time: September 23, 2008, 11:28 am

On the other hand, Your Weaselness, the stock market is based on emotions, not fact. So if the magicians of the stockmarket feel good about the market, for whatever reason, then stocks rally.

Similarly, a simple comment, like Greenspan’s “irrational exuberance,” can cause stocks to fall if it’s taken negatively.


Comment from Lemur King
Time: September 23, 2008, 11:34 am

Ah. Sorry Dawn. It IS a vivid image, no?

See, Musli, that is what I hate about the emotionalism of the stock markets. Can’t change it, but they are so mercurial that a lot of bad things can happen for no real reason at all. Wall Street is like the ocean. Reason being either because it has a lot of gulls crapping all over and stinks like dead fish or because you can’t turn your back on it. Not sure which but it could be both.

Wonder if we’d ever see this here? (note the space)

http ://www.timesonline.co.uk/tol/news/world/asia/article4810644.ece


Comment from Lemur King
Time: September 23, 2008, 11:35 am

Another round of secrecy.

http ://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/09/22/national/w131939D34.DTL&type=politics


Comment from Allen
Time: September 23, 2008, 12:06 pm

I used to trade on my own in the market; I was quite good at it, and made quite a bit of money. I finally gave it up because it got tiresome. No, the making money part was not tiresome, the paperwork and taxes aspect of it was. Frickin’ government, they can suck the fun out of anything.

“Vote for me, I am the bigger killjoy”


Comment from S. Weasel
Time: September 23, 2008, 12:14 pm

My mother did well in the stock market in the ’60s. I think it’s because she was utterly unflappable (and that’s partly because she was unflappable by nature and partly because she only gambled money she could afford to lose).

If you look at a market crash as a “looming depression” rather than “a fantastic once-in-a-lifetime opportunity to buy” — you probably shouldn’t be playing the stock market.


Comment from Lemur King
Time: September 23, 2008, 12:33 pm

The point that can’t be waved away is that if there is a major crash – not the correction being witnessed now – it means that many companies lay off people. If you see that get bad enough then you have a looming credit crunch on the consumer side since so many people are extended farther than they ever should have been.

Of course, my viewpoint is colored by Michigan’s 8% unemployment.

Perhaps it is valid to say that much like this housing bubble/boom whatever, that a potential pitfall that has not been fully acknowledged is the danger of an overextended consumer economy.

I’m not normally this gloomy, but… I just have faith in human nature. Take that in the cynical way it was meant.


Comment from memomachine
Time: September 23, 2008, 12:37 pm

Hmmmm.

““You, my boy, are a retard,” my father replied.”

Sounds like something my dad would say to me. :) :)


Comment from Allen
Time: September 23, 2008, 12:44 pm

The market is so irrational, you just gotta use your head. My favorite one was when Royal Dutch Shell was taken off the S&P 500 due to a technical rule. The stock got whammoed. My thought: dude it’s a huge oil company, you reckon they might still be making a boatload of money? Buy! Buy!

Hey, I even own some Halliburton, I did some consulting for them back in 2001. I wanted stock instead of moolah. Bad decision, bwahahaha! I used to post their share price and earnings on leftoblogs. Just for the entertainment purposes. Man, some of those people really don’t like Halliburton.


Comment from Lemur King
Time: September 23, 2008, 12:49 pm

Dad never said I was a retard, but on occasion when I did something typically stupid and male, his look said it all.

Of course, he was doing it too when we shot marbles up in the air with a wrist-rocket to see how long it would take them to come down. We shot them at an angle so they should have come down in front of us a ways. But, round projectiles don’t behave. Then… CRASH! … as the marble hit the glass cover of the solar panel on the roof. Tempered glass makes a LOT of small pieces.


Comment from Allen
Time: September 23, 2008, 12:57 pm

Joe strikes again. Apparently in Joe’s world they had TV in 1929 and Roosevelt was President.
He’s smokin’


Comment from S. Weasel
Time: September 23, 2008, 12:59 pm

Yeah, back in the early ’80s — when I didn’t have two pennies to rub together — I heard that Genentech was about to release a miracle drug (I believe it was the one that protects stroke victims from further brain damage), but the paperwork had been held up for a week on some simple clerical error. So the stock wasn’t moving (Jesus, the market can be stupid). I was grabbing people by the lapels and telling them to BUY THE DAMN STOCK.

My mother always said “it’s not the company” — but you know what? Yes it is. My dad made a killing on that stock.


Comment from S. Weasel
Time: September 23, 2008, 1:00 pm

I just read that. Hahahaha. From the Politico:

Joe Biden’s denunciation of his own campaign’s ad to Katie Couric got so much attention last night that another odd note in the interview slipped by.

He was speaking about the role of the White House in a financial crisis.

“When the stock market crashed, Franklin Roosevelt got on the television and didn’t just talk about the princes of greed,” Biden told Couric. “He said, ‘Look, here’s what happened.’”

As Reason’s Jesse Walker footnotes it: “And if you owned an experimental TV set in 1929, you would have seen him. And you would have said to yourself, ‘Who is that guy? What happened to President Hoover?’”

What a BOOB that guy is.


Comment from Enas Yorl
Time: September 23, 2008, 1:11 pm

Ughk. I’m already sick of the “Wall Street vs. Main Street” meme running through the political-media complex. Looks like I picked the wrong week to stop sniffing glue.

I’m playing hookey from work today so yay! No spam filter!


Comment from S. Weasel
Time: September 23, 2008, 1:14 pm

Hooray for Enas! Wanna go down by the lake and drink beer?


Comment from Enas Yorl
Time: September 23, 2008, 1:24 pm

Sure! Welllll – shoot. No. I’ve got to do something productive with myself today. I have to finish my cermics project before I go to class tonight. Speaking of which I get to glaze those mugs tonight too.


Comment from S. Weasel
Time: September 23, 2008, 1:27 pm

Oh, cool. I don’t have much experience with glazing; the commercial kiln that used to fire my stuff went out of business (okay, it was a guy, and he retired and moved to Florida), leaving me with a bunch of bisque ware.

I find glazes really interesting — though it’s nerve wracking to think you could ruin your piece in one swell foop. Which is particularly true of figurative stuff, like your mugs.


Comment from Enas Yorl
Time: September 23, 2008, 1:45 pm

I’ve learned not to get too attached to my stuff until it gets all the way through the final firing. At any point throughout that process all ceramics are subject to calamity and ruin in one swell foop, so it’s best to be somwhat philosophical about these things. The kiln gods giveth, and the kiln gods taketh away.

Ok. Enough goofing off – I’ll type at you guys later.


Comment from Allen
Time: September 23, 2008, 2:10 pm

Dayum, I just took a look at my investments. My financial planner is so going to get a nice Christmas present. I don’t know how the hell he does it, but he’s been making money through the latest turmoil.

I have a new motto about investing: you don’t have to be smart about investing, you just have to be smart enough to find a person who is.


Comment from Jill
Time: September 23, 2008, 2:17 pm

Ooooh, I loves me some ceramics ‘n stuff.


Comment from S. Weasel
Time: September 23, 2008, 2:20 pm

Hit Enas’ name to get his blog; he’s been doing some cool anthropomorphic mugs lately.


Comment from Jill
Time: September 23, 2008, 2:49 pm

I think someone needs a weasel mug of their Weasel mug.

:)


Comment from S. Weasel
Time: September 23, 2008, 2:58 pm

Heh. I really didn’t mean to leave that post at the top of the blog today, but I never really got my act together. I had a showing last night and had to make myself scarce, which threw my schedule off and I got to bed late. (Yes, he made an offer. It was too low to take, but I don’t think he’s scared off yet. Cross your fingers!).


Comment from Uncle Badger
Time: September 23, 2008, 3:03 pm

There you go! Jill has finally worked out how to make this blog pay – weaselmugs.

No rifle range should be without one! ;)


Comment from Uncle Badger
Time: September 23, 2008, 3:05 pm

Made an offer?! Damn! Does that mean I have to clean Badger House?


Comment from Jill
Time: September 23, 2008, 3:14 pm

I’d drink my Ovaltine out of a Weaselmug.

Void where prohibited.

:)


Comment from Enas Yorl
Time: September 23, 2008, 3:27 pm

Break time! I have to let my last slab firm up. If’n y’all are so inclined you can take a look at my latest project: The Drop.


Comment from Allen
Time: September 23, 2008, 3:50 pm

I have no idea why I found this interesting, but I did.

I would have thought us Californians would have a much higher “neurotic” quotient.


Comment from porknbean
Time: September 23, 2008, 4:08 pm

If you look at a market crash as a “looming depression” rather than “a fantastic once-in-a-lifetime opportunity to buy” — you probably shouldn’t be playing the stock market.

Sooo, I was wondering if now is a good time to buy some mortgage and insurance stocks……..


Comment from bustoff
Time: September 23, 2008, 5:16 pm

Murderous maggots! Send in Obama, Dodd, and Frank! They know how to fix this problem. Wait a minute…


Comment from porknbean
Time: September 23, 2008, 5:32 pm

Kill the bill. Inflationary, Unnecessary, and Unconstitutional….read here

openmarket.org/2008/09/23/bailout-bill-dangerous-inflationary-unnecessary-and-unconstitutional/


Comment from DefendUSA
Time: September 23, 2008, 7:17 pm

Ovomit: Vote for ME, I am the biggest Killjoy…’specially for my workin’ homies.

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