To those who read my stuff semi-regularly, for the second time in a week I find myself apologizing due to my not posting here. I have been busy with a number of other things, from my other blog, to my job and things being somewhat busy on the home-front. Business and Politics today I think….
Business first. I have been reading as much as i can to try my best to wrap my head around this financial crisis as best as I can, and I think it’s helping. I found a few articles that helped me somewhat. I still don’t have that degree in economics necessary to understand the minutiae here, but here is an article I found helpful. About the only thing about the article that does not help is the talk of a Wachovia-Citigroup merger. Today Citigroup lost it’s fight for control of Wachovia. But the gist of the article is this. Things got so complex that a 20% drop in value of a collateralized debt obligations, which is built on different tranches, or portions of Asset Backed Securities, which themselves are built on debt from loans from sources as wide ranging as car loans, student loans, and mortgages of all varieties, could wipe out the entire investment. And with it built on the shaky ground that is personal debt, it’s amazing this kind of thing did not happen before.
Nothing personal, but I have a message for all the geniuses in the economic field here. If you put six bullets in a six shot revolver and you play Russian roulette, yer gonna end up painting the walls red. That’s exactly what you did. And that’s not just your lifeblood on the wall, you took millions of people with you. The wall street money men had to have some Idea that this could happen, and they all know Murphy’s law is as applicable here as anywhere. But the problem here is that we had optimists betting on the future. You know what happens when you bet money?
You lose. That’s My Take.
Onto Other things.
The Market only lost 128 points today! WOOOOHOOOOO!!! And yes, that gets a WOOOOHOOOOO, in large part because I saw the very beginning of the day and watched the market drop almost 700 points in 5 minutes. THAT was nasty! I was waiting for it to hit 4 digits but thankfully it pulled itself out of the doldrums. The Bad news was that the Market was Insanely volatile today. I woke up at around 3:35 p.m., after going to sleep around 11:30 am, and watched the market on bloomberg television. It was up 100 points…and in the span of two minutes dropped two hundred points, then recovered that loss and went to the plus side again…then it wobbled like a weeble. According to Bloomberg the market went from loss to gain and back to loss 16 times during the last hour of trading.
I am still waiting on the Palin investigation to come out with it’s findings. That’ll be fodder for Monday’s EL-CO coverage no doubt. I hope there is nothing to harm her bid for the V.P. spot behind John McCain. It’s so much fun watching Tina Fey and the rest of the media, and not just the so-called liberal media, skewer her.
If you’ve stuck with me this far, you know why I am putting THIS link in here.
For those who weren’t sure, I am something of a fan of the Washington post. I am reading a story here about Darth McCain. Yep, you are reading that right. John McCain has joined the dark side. He is one with the sith. 🙂
OK, The actual article I read in the WP is about the McCain Campaign jumping on the Hate and evil bandwagon, ginning up the hate and saying nothing to crowds that yell crap about wanting to Kill Obama and calling him a terrorist. The implication of the article seems to me to be that this could lead some reckless ass-bag nut-job to take a rifle and put a bullet between Barack Obama’s eyes. And I’ll tell ya, I don’t doubt that someone could or would try it.
A happy video here. This is what The Anti-Obama vote looks like. Semi-retarded. Funny stuff.
One embedded video before I call it a day. Pollster John Zogby talking about Racism, The Bradley effect and the Election.
That’s it for me! Later!
Today’s Nuggets, from George Carlin, Via Wikiquote: So I say live and let live. That’s my motto. Live and let live. Anyone who can’t go along with that, take him outside and shoot the motherfucker. It’s a simple philosophy, but it’s always worked in our family.
You know how I define the economic and social classes in this country? The upper class keeps all of the money, pays none of the taxes. The middle class pays all of the taxes, does all of the work. The poor are there… just to scare the shit out of the middle class. Keep ’em showing up at those jobs.
Personally, when it comes to rights, I think one of two things is true: I think either we have unlimited rights, or we have no rights at all. Personally, I lean toward unlimited rights – I feel, for instance, I have the right to do anything I please. But, if I do something you don’t like, I think you have the right to kill me. So where you gonna find a fairer fucking deal than that? So the next time some asshole says to you, “I have a right to my opinion,” you say, “Oh yeah? Well, I have a right to my opinion, and my opinion is that you have no right to your opinion.” Then shoot the fuck and walk away.