Amusing:
Synonyms for Recession
April 25, 2008 5:36pm by Barry Ritholtz
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Friday Evening Jazz: Dexter Gordon
Look up Pat Buchanan.
His skill at defending state’s rights is fascinating. Code speach euphemisms were practically invented to defend racism. The same skills can be applied to turd gilding.
If debating Al Gore today, George Bush might call it “Ration Building.”
Or the Wall Street Journal Opinion page might call it, maybe, “Maintaining the Rushmore Count.”
Maybe, Dis-spending?
Whoops, nowadays, hedge funds geniuses and PE gods are taxed as ‘dropped interest.’
banana
Hmmm… from market ticker..
“If you’ve wondered if the banks were intentionally gaming the system – cheating, to be blunt – you shouldn’t wonder any more. The UBS fiasco should be all the proof you need – their release of a blunt report stating that they simply ignored risk management because they were quite sure “The Fed had our back” is about the most damning piece of evidence thus far.”
one fascinating chart
http://www.financialsense.com/Market/pretti/2008/images/0425.h1.jpg
Hi Stuart,
I just read the same post on ticker sense. I like his reasoning. I don’t know his name maybe he’s anonymous. It was only yesterday that I discovered his blog. I really like his style and he seems very smart and passionate on behalf of the poor folks who bought houses they could not afford believing that prices would continue higher until eventually they would be able to afford them…A rationalization I couldn’t follow and I’m pleased I didn’t attempt to. I must admit I’d like to see these high flyer financial types taken down a few rungs. Partly out of jealousy at the unbelievable amounts of money they are able to earn providing just “services” to more common productive types. But if it turns out that what they were doing was illegal and actually amounted to fraud or stealing then given the consiquences for America and possibly the world they really should be taken down in a big way.
Simon, his name is Karl Denninger. Click the link at the bottom of his blog (the ticker forum) and go check some of the forum posts over there too, especially some of the videos within the presentation area as they are very good. Very informative.
Hi Stuart,
I followed a link from somewhere to one of his presentations. That was how I found his blog.
I saw the presentation on how he values the “total losses” due to house price collapse at 2 trillion. I love the no nonsense way he derives the bottom line for the economy.
Its interesting how looking back its simple to see what happened in 1929. It can be explained in three sentences it seems.
My guess is that this time it will be much the same.
Anyone here catch Paulson using the word “DOWNCLIMB” in one of his recent speeches? WTF IS A “DOWNCLIMB”???!?
It’s far more ridiculous than any of the intentionally ridiculous euphemisms in the cartoon!
“the poor folks who bought houses they could not afford believing that prices would continue higher until eventually they would be able to afford them” ???
How about stupid/irresponsible/greedy.
These folk were displaying the same greed as the CEOs.
Awwwww, is progressive government going to kiss it and make it all better? How about the government making all decisions in the economy so nothing ever “fails.”
It’s funny how we have yet to see any negative GDP growth and yet we hear the gleeful chants of Recession.