At least . . .

A little Friday afternoon humor:




Note: Please try to moderate that portion of your brain that makes anything politically related turn ordinary humans into seething, fire breathing cretins.

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  1. Gary commented on Oct 19

    Rare that a political cartoon can make me laugh out loud. priceless!

  2. Neal commented on Oct 19

    What to do, what to do?? The Goldilocks economy is about to be gobbled up by the three bears–housing, earnings, financials.

    But, but, isn’t this the best of times??

    Perhaps the only bright bit of news we can point to is that the Northwest Passage was finally dicovered.

  3. LAWMAN commented on Oct 19

    Its the MSM’s fault.


  4. MarkTX commented on Oct 19

    Nothing To Do But Feed All The Kangaroos…..

  5. peter from oz commented on Oct 19

    where are all the satirical (in an undergraduate mode) bullish comments this afternoon
    still early days but global financial bush fires everywhere
    if they join up hmmm!
    back to the bear cave for a few months yet
    rgds pcm

  6. Al Czervik commented on Oct 19


    So he’s got that goin’ for him; which is nice.

  7. VJ commented on Oct 19

    Even better cartoon:

    ‘Fox Business Network’ went live on Monday.

    DJIA since Monday



  8. LAWMAN commented on Oct 19

    G.W. Bush, 10/11/07:

    “There’s a variety of reasons why people are uncertain,” Bush said in a taped interview with CNBC’s Maria Bartimoro. “But when they take a hard look at the statistics–and the reality–I hope it brings them some comfort to know this economy is strong and is setting all kinds of records.”

    G.W. Bush, 10/17/07:

    Q: The Commerce Department reported today that the housing starts last month fell to the lowest level since 1993.

    How concerned are you that this housing recession will spill over into the broader economy? And what more can be done to prevent that from happening?

    BUSH: I’m encouraged by the rate of inflation, the job growth. We’ve had 49 consecutive months of uninterrupted job growth, which is a record here in America.

    I’m pleased with the fact that our deficit is shrinking. But like our secretary of the treasury, I recognize there’s a softness in the housing market.

    By the way, we had growth in the GDP because of exports. In other words, there’s positive elements of our economy, but, no question, the housing is soft.


    I’m not a forecaster. But I can tell people that I feel good about many of the economic indicators here in the United States.

  9. Mongo commented on Oct 19

    This is WAY, WAY O/T, but I feel the need to provide a little humor — and, on the back of the Carl Spackle quote:

    In 2004, after a public talk by the Dali Lama, I had the opportunity to attend a private meeting between him and some Very Major Donors towards a fund to document and preserve Tibetan culture. I wasn’t one of them; my significant other’s babysitter was Tibetan, and the babysitter’s husband a former Buddhist monk who apparently knew the Lama well in India — they arranged our entry.

    I shook hands with the Dali Lama, and after being presented with a white silk scarf, I asked quietly, “Your Holiness, have you seen the American Film, ‘Caddyshack’?” “Catty Shack?” He replied. When I corrected him, he laughed, and said, “No; I am afraid not.”

    They ‘politely but firmly’ moved me along before I could repeat Bill Murray’s complete line. Damn.

  10. SINGER commented on Oct 19


  11. deltaverde commented on Oct 19

    Mongo, I don’t know whether you’ve got brass balls the size of grapefruit or are totally lacking frontal lobes, but that’s funny.

  12. Tom B commented on Oct 19

    Umm– I haven’t seen Caddyshack. Can someone help me out.

    BTW: the economy’s doing GREAT. Bush oughta know– all his golf buddies say so.

  13. Mongo commented on Oct 19


    It was a once-in-a-lifetime opportunity.

    During his public talk (primarily delivered in Tibetan, through a translator), he was discussing the bewildering pace of modern life, then added, in English, and no joke: “Sometimes, you just have to say… ‘f— it!’ !”

    The crowd (at Davies Symphony Hall in San Francisco) went dead silent for a moment, then burst into laughter and sustained applause.

    Just based on that — if I’d had the opportunity to fully explain the Caddyshack reference to him, I have a feeling the Lama would have had a chuckle.

  14. Eclectic commented on Oct 19

    I’m quite amused by today.

    Lions don’t get the natives when they’ve already gotten up, gotten their torches and are beating the bushes for the mankiller.

    The lions get their natives when the natives are asleep… contented and peaceful. Go back to sleep, sweet natives… nothing here that’s going to wake you up this weekend. Nobody in the Walking Around Economy (WAE) knows Julian or cares what he thinks.

    My guess?…

    By Wednesday (if not by Sunday night even), the entire flavor of today will all be a distant memory… all headed in a new direction… all tuned in to the G.S.N.T. show… all back to peaceful contented bliss.

    Nite Nite Barringo.

    You can put Julian, Benazir Bhutto and The Philippines (both significant terrorist threats still), oil, option expiration, bad Cat, the ass-deep coverage of Mr. 10/19/87 (it’s the most you’ve posted on one topic since the last Apple wetdream – in fact, by now you’re probably homesick for one), and everybody from Hank Paulson to Popeye the Sailor Man talkin’ trash on the economy… and put all of that in a sack with some bricks and toss it in the creek.

    It’ll all be like just so much Chicken Talk, prolly by Monday.

    BTW, Barringo…. know why the Chicken crossed the street quickly?

    …to keep from gettin’ his ass run over by the Treasury stampede.

  15. Matt commented on Oct 19

    “Umm– I haven’t seen Caddyshack. Can someone help me out.” –Tom B.

    Bill Murray’s character (Carl Spakler) tells a story of being a caddy for the Dali Lama (big hitter, the Lama). The Dali Lama stiffs him, with no tip, but tells him that on his death-bed he will receive total consciousness. Which prompt’s Murray’s classic line: “So, I got that going for me. Which is nice.”

    One of the funnier bits in the movie. Bill Murray in top form.

  16. wnsrfr commented on Oct 19

    When I googled the Dali Lama / Caddyshack joke bit, the first hit I found was a complaint by a Minnesota resident…apparently, Jesse Ventura also met the Dali Lama, and HE ASKED THE SAME QUESTION! That is too funny :)

    ps. I like Jesse, and I like Manny.

  17. Florida commented on Oct 19

    I’d noticed a couple of weeks ago that there was a good bit of action clustered around the $20 strike contracts on the VIX. Punched right through that today.

  18. scorpio commented on Oct 19

    interesting that in his interview w Maria the President left World War III off the list of all the great things Amurricans can look forward to…

  19. Justin commented on Oct 19

    Same old shit, just a different president.

  20. edhopper commented on Oct 19

    Barry, why the caveat about hostile reactions? Is there a thinking person left in America that supports this buffoon or his policies?

  21. VJ commented on Oct 19

    We’ve had 49 consecutive months of uninterrupted job growth

    79 consecutive months of uninterrupted NEGATIVE job growth.

  22. DP commented on Oct 19

    Best line:

    Big Hitter that Lama

  23. VennData commented on Oct 19

    Was happy houring with my buds, good guys, but I can’t convince them to go all low cost ETF, their brokers calling them… “it’s time to get in” “buy the dips” “it always works” I said… wait a minute.. just a minute…

    Reply, “Hey thanks for just saving me a thousand bucks, let me buy you a beer.”

    So I’ve figured out how I’m going to survive it.

    Get your own strategy.

  24. VennData commented on Oct 19

    Was happy houring with my buds, good guys, but I can’t convince them to go all low cost ETF, their brokers calling them… “it’s time to get in” “buy the dips” “it always works” I said… wait a minute.. just a minute…

    Reply, “Hey thanks for just saving me a thousand bucks, let me buy you a beer.”

    So I’ve figured out how I’m going to survive it.

    Get your own strategy.

  25. JJL commented on Oct 19

    We want rock blogging and we want it now! I have “Atomic Punk” for my friday rock blog, what’s Barry gonna do?

  26. MrBernenke_TearDownThisCPI commented on Oct 19

    All we’re missing is Barry’s inflation rant (which I am now 169% subscribed to by the way)

    How can the bullsh*t CPI still exist in the face of real data from the field?


    QUOTE: “While economists debate whether the country is headed for a recession, some say the financial stress is already the worst since the last downturn at the start of this decade.

    From Family Dollar to Wal-Mart, merchants have adjusted their product mix and pricing accordingly. Sales data show a marked and more prolonged drop in spending in the days before shoppers get their paychecks, when they buy only the barest essentials before splurging around payday.”

  27. Brian B. commented on Oct 19


    u r too funny.. i am glad i dont know you

  28. whipsaw commented on Oct 19

    VennData said:
    Was happy houring with my buds, good guys, but I can’t convince them to go all low cost ETF, their brokers calling them… “it’s time to get in” “buy the dips” “it always works” I said… wait a minute.. just a minute…

    Reply, “Hey thanks for just saving me a thousand bucks, let me buy you a beer.”

    I’m not sure why some people don’t seem to be interested in ETFs- they may have some overhead and tax inefficiencies, but are a pretty good way to enjoy some focused diversity, employ sector rotation, and sometimes get around shorting prohibitions on restricted accounts (DOG, etc.) if that’s what you want to do.

    I also think that you don’t buy dips, you buy the recoveries as they establish. In the present circumstance, that would mean buy the minor run-up that will take place before the Fed meeting. As at least a couple of people have been posting here for weeks now, a rate cut can’t happen with stocks at record highs, so we are in the midst of a drawdown aimed at assuring a Halloween Treat. Act IV, Scene 1.

    I originally thought it would be a quarter point, but there is enough economic weakness being spotlighted that a half point is more likely. That should prompt an orgy of buying into the end of the year as managers try to pump up results for bonus purposes. $NDX and $OEX go wild while $RUT has problems but rises some anyway. Act IV, Scene 2.

    I don’t say that having what amounts to a rigged market is good, just that it is somewhat predictable. Altho you can certainly argue that this can’t go on forever, ultimately being right isn’t enough if you have money on the table, you have to right at the right time.

    The upshot is that between the efforts of Hank and Ben, there is no margin for error on the short side of things and a relatively good risk/reward picture on the long side over the next 3 months or so.


  29. Zero Beta commented on Oct 19


    That is unpatriotic – having a bear eat the president while he is busy trying to save our country from financial ruin, terrorists, and those evil hurricanes.

    Plus, its not that he’s clueless, its just that how can he concentrate when Hanky P is going Monica Lewinsky on him under the desk.

  30. John commented on Oct 19

    They were batting around issues surrounding the falling value of the dollar and interest rate cuts at the next FOMC meeting on Kudlow tonight. Mr. “Free Market” was suggesting that some amount of U.S. Treasury Intervention/collaboration with other countries might be need to support the dollar (citing to Robert Reuben’s timed interventions–although infrequent– into the currency markets to support a falling dollar during the Clinton Administration). And that as the World’s most important reserve currency, it’s in no one’s interest for the dollar to trade much lower.
    It looks like the Bond Market and the Fed Fund Futures are pricing in more rate cuts from the Federal Reserve. It looks to me like the recent sell-off in the dollar has accounted for some of such move by the FED but it’s hard to say to what degree.
    So we have a .25-.50 bp Discount Rate and/or Federal Funds rate cut at the next FOMC meeting (11 days away) and then we can expect what– some amount of Upward correction in the value of the Dollar due to Central Governmental Intervention in the Currency Markets (or JawBoning therefrom to that effect). Price of Oil corrects — due also in part to warmer weather forecasts on the East Coast. Gas price at the pump comes down (it hasn’t risen much at all considering the upward move in the price of Oil). And the Stock Market is once again (temporarily) saved, falling value of the dollar “crises” averted (but that was suppose to be a good thing for the Multi-Nationals/Trade Deficit/U.S. Exports right??), Global credit market turmoil behind us (yet again) and the impact on the U.S. consumer from the Housing Crises/High Energy Prices is softened.
    I don’t see how Bush’s economic team, politcially speaking, can afford to let the Stock Market fall substantially (a Nice 25-30% correction) in lieu of the deteriorating Housing/Credit Markets, if Paulson’s and Bernanke’s most recent statements on the matters are to be believed. My (Layman’s) take on the Market is once we get through this 5-10% correction, which many seem to have been expecting, we get another big move up… and the day of reckoning by Mr. Market is postponed for a while longer yet.
    But I think this is starting to get more difficult even if it’s a Global Central Bank Concerted Effort to put a bid under the Markets… Dow Theory Non-Confirms all over the place. Nikkei still down from previous High, Transports still down, SemiConductors which (some years ago) use to lead the Nasdaq, looking like their going to pullback due to a Head and SHoulders formation, A/D ratios, Volumes on recent Stock Market Advance down etc….
    Given their positions on Taxes it will be interesting to see how close of a presidential race the Democratic Candidate can make it. Maybe a close race could give us a Nice Stock Market Correction…

  31. David commented on Oct 19


    I don’t like the political cartoons, they make one bias and prejudice, however, the bear looks cool.

    “You don’t choose the things you believe in they choose you.” William Shakespeare

  32. jbh commented on Oct 19

    MarkTx, your kangaroo reference made me fall off my chair laughing. thank you!

  33. DC commented on Oct 19

    BR — Hope you caught Kudlow. It took maybe 3 minutes for Liberace to connect the dots from today’s plunge to the prospect of Prez Hillary. Even Arthur Laffer wasn’t buying it, which caused me to do a pricey spit-take of single malt. I’d gladly put politics aside if someone would stuff LK in the aforementioned creek-bound brick-sack.

  34. VJ commented on Oct 19


    Nuthin’ funny about six and a half years of negative job growth:


  35. Brian B. commented on Oct 19


    just curious, you know about me how about you? you seem awfully angry? Is your life that bad? or are you just fighting the good fight?… Let me remind you…. I have worked in the grocery business(unions), the government(police ofcr), business owner(2 restaurants), Loan officer(morgtage loans), and now trade index futures daily for the last 3 years… so no harm no foul, but just curious, that you slam everything… is anything ok today? And btw, I am very bearish on the upcoming 6 years…

  36. VJ commented on Oct 20


    You’re projecting.

    It’s lame.

  37. Brian B. commented on Oct 20


    ya, thats what I thought, thanks…

  38. Eclectic commented on Oct 20

    I have a philosophical observation, a paradox that might make sense for you. It goes like this:

    What would happen if an unstoppable force met an impenetrable barrier?

    Now, before you just jump at an answer, spend some time trying to envelop yourself in the logic of each side’s argument.

    What would happen?

    …The answer is that willfulness will win, because, in the end, it can’t be beaten no matter what. Willfulness has no logic, no reason, no forgiveness and no tolerance for even a slight tendency it might find in itself to be influenced to have the opposite view.

    Willfulness is visceral, not intellectual… it’s religion, not philosophy. Willfulness doesn’t take prisoners. It’s its own soothing balm.

    Man became the most successful animal on the planet by exercising his intellect to become an independent thinker and innovative, but deep in his primitive evolutionary history there remains the tendency for herding, because at one time it was necessary for staying alive. The wildebeest doesn’t intellectualize with the croc. It’s a waste of time and effort:

    It’s the reason that markets have booms and busts… it’s the reason some people can ride stocks into the ground, and it’s also the reason that political parties exist…

    and why we have and will always have wars.

  39. Barry Ritholtz commented on Oct 20

    Nope, didnt see it.

    We had a storm last night, and my whole neighborhood lost electricity.

    Not only did I not watch K&C, but I was going to post Steely Dan’s Black Friday as a Friday night Jazz Video — no luck.

    Still no juice, this is coming to you via Starbucks

  40. Greg0658 commented on Oct 20

    Eclectic – question of your school days
    Jock or Band?

    Me – Band & tennis (2nd tier in both)

    Finally with weapons of today, I pray war is not forever. Got a bunker for your herd? Seeds and supplies?

  41. Eclectic commented on Oct 20

    I’m never without Eclectricity.

    Greg… tiny school with no band, no football team… 12 grades under one continuous oofray, about 28 students in the senior class, although I moved my senior year (260).

    Basketball, baseball, track and field… although I never used a jock strap. My boys have to be free and they’re not big enough anyway.

    I persist in clinging to the notion that I might’ve only been slightly below average.

    May I inquire the basis for your question?

  42. Eclectic commented on Oct 20

    BTW, that would be my boys I’m talking about, not the skills.

  43. Eclectic commented on Oct 20

    I did try to get on the debate team, but the surrounding schools filed a protest against me for unfair competition…

    and all my prior teachers said I’d used up my eligibility anyway.

  44. Greg0658 commented on Oct 20

    lol – just seems we live in a culture of gotta win by beating down instead of Lifes a Symphony

    239th of 369 but got Rotary Award for Teachers Helper (male)

  45. Eclectic commented on Oct 20

    Excellent sentiment, Greg!

    The true original objective of religion and politics was to manage that element of human interaction that you express relative disdain for… religion for managing the internal man, for his soul… and politics for his external dealings with others.

    My perception is that, lately, the direction of that objective has been misdirected in these two elements.

    Religion is often promoted externally and forcefully on others, and politics rules the soul.

  46. Winston Munn commented on Oct 20


    As the class disparity has grown, it seems to me we have witnessed a resurrection of “the opium of the masses”, which would be consistent with the loss of personal power (wealth) and thus a reliance on a “great avenger” to balance the universal ledger.

    This leads to a greater degree of Willfulness as reason and individualism is replaced by mass belief.

    Willfulness versus Willfulness=War.

  47. Eclectic commented on Oct 20


    Too strong for me on the class business, but it’s a reasonable argument anyway.

    You got it… W (V) W = War, or at least perpetual conflict, since neither side will yield.

    Unfortunately, they won’t even yield if presented with a logical proof that they are wrong. That’s the strength of willfulness. It ignores logic… even ignores it when the ignoring is to its detriment.

  48. Winston Munn commented on Oct 20


    I believe your concept and explanation of willfulness should be construed as some type of universally accepted truth – like gravity. Sir Isaac Eclectic, if you will.

    I’ve given my reasoning why Willfulness seems to be on the rise – do you have some basic concept of cause?

  49. Eclectic commented on Oct 20

    Winston… to my mind because of the growing universality of rapid efficient communication. It facilitates herding and the subsequent cultural, religious and political polarization that results from it.

    You’d think just the opposite, but it turns out that the polarization creates the virtual equivalent of real geographic boundaries.

    But… please don’t give me too much credit. I’ve formulated the application of the concept of willfulness as being a type of optimism or pessimism without a valence operator (a plus or minus converter, since optimism and pessimism ought, by logic, to be perfect mirror opposites), but the origins of human psychological herding were basically explained by Freud, although I don’t know that he ever used the word, “herding.”

    Freud long ago traced the psycho-evolutionary basis of human conflict. I wasn’t aware of that until I read Walter Isaacson’s book “Einstein: His Life and Universe” found here:

    In letters exchanged with Einstein, Freud didn’t hesitate in informing Einstein (himself an unusually optimistic problem solver) that human conflict was a permanent and insoluble condition. Here he summarized the ultimate conclusion of a long letter to Einstein:

    “The upshot of these observations, as bearing on the subject in hand, is that there is no likelihood of our being able to suppress humanity’s aggressive tendencies. In some happy corners of the earth, they say, where nature brings forth abundantly whatever man desires, there flourish races whose lives go gently by, unknowing of aggression or constraint. This I can hardly credit; I would like further details about these happy folk….” end quote.

    You can read the letter here:

    Einstein had asked Freud to debate the question “Why War?” You can read Einstein’s invitation to Freud here:

    I think if you take the time to read these letters, you’ll be astounded at what Einstein was asking of Freud and how Freud answered him. Since Einstein was searching for intellectual support for The League Of Nations, Freud’s letter was a dash of cold water tossed on his quest.

  50. Eclectic commented on Oct 21


    Notice in the material I referenced by links that Einstein was writing to Freud and Freud replying to him in 1932, practically at the dawn of events that would subsequently kill more than 20 million people over the span of almost 15 years of war.

    Freud couldn’t have known that at the time. He might have sensed something brewing by then, but he couldn’t have imagined the magnitude of what would occur.

    Evidently it hadn’t taken Freud long to know that his reply would not be cheerful or optimistic and he told Leon Steinig so, as will be further detailed below.

    I’ll [quote the entire section] since it will be easy to see that both Steinig and Einstein were not getting the answer from Freud they’d hoped to get:

    [Leon Steinig, a League of Nations official who did much to inspire this correspondence, wrote Einstein on September 12, 1932:

    . . . When I visited Professor Freud in Vienna, he asked me to thank you for your kind words and to tell you that he would do his best to explore the thorny problem of preventing war. He will have his answer ready by early October and he rather thinks that what he has to say will not be very encouraging. “All my life I have had to tell people truths that were difficult to swallow. Now that I am old, I certainly do not want to fool them.” He was even doubtful whether [Henri] Bonnet [Director of the Institute of Intellectual Co-operation in Paris] would want to publish his pessimistic reply. . . .

    Einstein replied to Steinig four days later saying that even if Freud’s reply would be neither cheerful nor optimistic, it would certainly be interesting and psychologically effective.] end quoting.

    I’ll use this opportunity to note that, at the time these men were intellectualizing about human conflict, Keynes already understood one of the core reasons for the conflict that would later kill those 20 mil — the economic conflict in Europe that was, in large part, brought on by The Treaty Of Versailles.

    Isn’t it strange that at that very time, while Einstein and Freud enjoyed being at the absolute heights of praise and recognition, Keynes, possessing even then possibly the keys to avoidance of war, was being ignored? 1932 was actually the year that the Hoover Congress r-a-i-s-e-d taxes:

    Until that time the stock crash of 1929 was still essentially a market phenomenon that might not have led to an outright depression (maybe less than 15% of the population invested in stocks then). However, the collapse of farm commodity prices, the once-in-a-millennium dust bowl agricultural collapse of the U.S. Midwest, and the insanity of both Smoot-Hawley:

    …and that tax increase all worked together to create a perfect storm of events that pushed the entire world over the economic brink.

  51. Greg0658 commented on Oct 21

    hum – same old story – if I red (read) between the lines & websites

    merchantilist – our ideas and willfulness make the world go round, take what we give and be content, or else

    laborer – but our hands do all the work
    (and buying as a matter of fact)

    the power of the take

  52. Eclectic commented on Oct 21


    Capital versus Labor is the age-old quintessential chicken versus the egg argument.

    Supply-Side economic theory is willfulness as a sort of manifest destiny, even more so than Say’s Law which is its precursor.

    Say’s Law says that if you build it, there must be an attending demand that would have required the build-out of capacity.

    Supply-Side is just building-out capacity for its own sake. That is an attitude that has no concern for the rational demand that must occur to support it.

    I hate to keep relying on the credit crisis with housing and subprime financing as my primary example, but… it’s a pretty good one to hang your hat on.

  53. Winston Munn commented on Oct 21


    Freud was obviously a brilliant mind – it is interesting to see his theories being played out in real time.

    When, do you suppose, will the second revolution begin?

  54. VJ commented on Oct 21


    1932 was actually the year that the Hoover Congress r-a-i-s-e-d taxes … Until that time the stock crash of 1929 was still essentially a market phenomenon that might not have led to an outright depression (maybe less than 15% of the population invested in stocks then). However, the collapse of farm commodity prices, the once-in-a-millennium dust bowl agricultural collapse of the U.S. Midwest, and the insanity of both Smoot-Hawley … and that tax increase all worked together to create a perfect storm of events that pushed the entire world over the economic brink.

    Your corollaries doesn’t hold any water.

    Not only (as your own link points out) did the Hawley-Smoot legislation only apply to a mere 4.2% of the GDP at the time, the national economy was already in a serious downturn in mid-1929, before it was enacted.

    Additionally, between 1921 and 1929, the tariff rates had risen from 29% to 40%, while the Unemployment Rate had dropped from 11% to 3%, during a period also known as the “Roaring Twenties“.

    As to raising income taxes on the wealthy, as I have previously posted, our two most prosperous periods in the 20th Century were when income taxes on the wealthy were high and/or just raised.

  55. Eclectic commented on Oct 21

    Real time?… That’s like saying it’s interesting to watch gravity play out in real time.

    It’s been the condition of mankind for all its existence… past time, current time, and future time… all the time. Freud didn’t invent it… he just explained it.

    Revolution?… When?

    Sorry, at the moment I’m tied up worrying about Ellen’s dog, about Britney’s kids, and about how many shopping days are left until Christmas, and also dodging these freight trains that you can pass a birthday or two waiting for them to pass, all loaded ass-deep to a brontosaurus in coal, scrap iron, corn, pulp and other hard assets high-ballin’ it to the nearest sea-side assembly of War-Of-The-World-lookin’ cranes. Self-same cranes are all waitin’ to flip ’em for containerized unit loads of Chinese goodies (so fast the ships don’t even have time to shallow out their drafts) headin’ backwards down the rails to block my railroad crossing ventures once more. The trains get me a-goin’ and a-comin’ back again. I could read “War And Peace” at the crossing barrier, forwards and backwards.

    No, you’d have to close the malls and pass out a flyer with a schedule for when R-Day was to begin in order to get a respectable showin’ for a rev-o-lution.

    Even then some Big Box would cut prices by 20% on R-Day and the whole thing would be off again. They’d toss the bandoleers for toting the shopping goodies and dump the ammo out of the SUVs to make room for the latest battery powered gewgaw. Why, you’d have to beat Barringo away from the door at Best Buy just to wedge yourself in sideways for a moment of consumer en-joyment.

    No, you’d have to have an entirely different line-up of political platform issues with both of these Bozo Parties before there’d be any worries about a revolution.

    Now, that Kasparov guy… he’s onto something I think… something with meat in it. He’s not flying Aeroflot or eating and drinking anything in Mother Russia that he didn’t himself see canned or bottled. There you go! – there’s a guy with some real R-worthy stuff to think about. Let’s see how we’d react if one of the Pubs or Dems couldn’t run because of a threat to life, limb, family or stomach, and you might get me interested in re-examining the topic.


  56. stormrunner commented on Oct 21


    Watched Kasparov on a Springer Edition like Version of Bill Mahr which aired this weekend. Very, very, quick astute mind. I was impressed on a lot of levels, and I don’t even know his politics. Mahr has tenacious sarcasm that Kasparov countered like he was playing another 20 man tourny and Mahr was just another 2nd rate contestant.

  57. Eclectic commented on Oct 21

    I’m sorry VJ, but I can’t maintain any self-respect if I allow myself to associate with a known pre-2000 Tech Boom Denier.

    I believe, subject to correction, that you’re the only P2KTBD on TBP, and thus you are subject to irrational willfulness.

    I can deal with optimists, pessimists, Democrats, Republicans, Supply-Siders, Keynesians, Classicists… and the occasional asshat… but I can’t enter into rational dialog with a willful P2KTBD.

    Good day.

  58. Eclectic commented on Oct 21

    Storm, strange interpretation you had to Mahr’s comments.

    I thought Mahr was practically worshipful of Kasparov. Watch it again.

  59. Eclectic commented on Oct 21


    Maybe we’re on different pages. I watched Kasparov on Mahr’s “Real Time” this weekend.

  60. stormrunner commented on Oct 21

    No I didn’t mean to imply Mahr was in in any way critical of Kasperov just that his business is a sarcastic brand of humor that the Kasperov replies admittedly, by Mahr himself were being trumped is all. Not that Mahr’s sarcasm was aimed at denigrating him in any way. –Kasperov is obviously not a comedian but I found his wit at least in the brief exchange to be superior, of course that may have been staged but I doubt it. I searched for initial references to Kasperov in the thread, didn’t see any, was tempted to quickly update my post, when I caught your possibly implied pun of “Real Time” observation of gravity.

    I have a comment/question for you regarding the “29 era depression it will take nme a bit to compose if you have some time later?

  61. Winston Munn commented on Oct 21


    It is interesting you pointed me toward the Freud letter at this time, a time when I had been pondering the affect of anarchy in an isolated environment.

    We seem to see this in Gaza and the West Bank, in Iraq, and in other areas of the world where a handful of soldiers is given what amounts to supreme power due to the absence of law. It may well have ocurred to a lesser extent even in New Orleans after Katrina. With isolated anarchy, men, it seems, revert to their more base nature – it is only the threat of law that seperates civilization from the law of the jungle – have we really evolved so little?

    In that comparison, I considered what may be termed para-anarchy, or anarchy tendency, where laws, rules, and regulations are minimalized – would it not make sense that base nature intercedes to the degree of lawlessness tolerated?

    Have we not witnessed this in microcosm as deregulation of businesses and of the markets has led to anarchal tendency and thus base nature of participants? Has a small part of civiliation been replaced by the nature of warriors?

    And lastly, I don’t know if you agree but I sensed a common rhythm to the ebb of flow of Freud’s power shift that reminded me of Mises’s business cycles – it would be interersting to see if there is some apparent connection between business cycles and regulations/rules changes.

  62. stormrunner commented on Oct 21

    The Kasperov/Maher exchange is here

    Given Mahers questions and remarks are likely prepared in advance Kasperov’s off the cuff “oneupsmanship” is impressive.

    Given the state of the geopolitical environment, the correctness of the ramifications of Smoot-Hawley will be fundamentally important as we enter this possible recession. Given the recent advances in protectionist agenda there obviously needs to be a balance between ascertaining how much of the off shoring of American innovation is acceptable with respect to our prosperity and security, without one we can not afford the other.

    You obviously a far more “well read” than I. There is a work by a Martin Armstrong where he chronicles the day to day market action of the “Depression Era” his credibility is seriously compromised by his imprisonment and his being alleged to be a charlatan. None the less he substantiates his opinions with graphical analysis and charts that make his case compelling though our situation moving forward is similar our economy has matured to the status of Europe of the period. Multiple researchers can scrutinize the same datasets and come to diametrically opposed conclusions.

    Chapter 10 pg 265 forward

    To think that only
    tariffs were the cause of the Great Depression
    is grossly incorrect. This economic
    contraction which took place worldwide
    was primarily created by the destruction of
    public confidence within the economy in
    addition to a debt crisis that was hidden
    behind all the press reports and economic
    statistics. But the central banks viewed the
    problem of a U .S. trade surplus and the U.S.
    creditor status as a deterrent to the reconstruction
    of Europe. Non-U.S. bankers argued
    that unless U.S. interest rates were
    lowered and trade was shifted back in their
    favor, then repayment of war loans to the
    U.S. would become impossible.
    The true problem was that the U.S. economy
    had expanded through innovation and
    through the devastation suffered by Europe
    at the hands of war. But exports clearly
    peaked in 1925, NOT during 1929 or 1930.
    Europe’s capacity to buy was severely hampered
    by its enormous debt service resulting
    from the war and it s quest for
    rearmament once again. Furthermore, the
    steps to intervene by reducing U.S. interest
    rates in hopes of attracting more money to
    Europe should not have been taken. What
    should have been done was a currency devaluation
    in light of the reduced capability
    for economic growth in Europe.

    Is he fundamentally mistaken in his assessment.

    Is personal story is also quite intriguing.

  63. VJ commented on Oct 21


    I’m sorry…

    Well, what can I say ? At least you’re self-aware.

    ..but I can’t maintain any self-respect..

    That can be problematic. My sympathies.

    ..if I allow myself to associate with a known pre-2000 Tech Boom Denier.

    As I never made such an assertion, your reference must be to someone else.

    Great day !

  64. Eclectic commented on Oct 21

    Winston, I don’t have anything further to contribute to your observations.

    Storm, I’ll simply stand pat on what I said earlier in this thread, without comment on the analysis you presented and linked.

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