Wednesday, July 9, 2008

Plain Speaking

Very little "plain speaking" occurs in public discourse now. The Bush-Clinton decades are typified by weaselly verbiage, deceptive phrasing and disingenuous talk and writing. But what else would we expect from a ruling class and their media poodles dominated by knaves ?

What prompted this rant ?

I read this morning's newspapers online. Here are some examples of how Bunkerman would describe or react to some news and issues.

Iran test fires missiles - medium and long range missiles. This is obviously a threat and further indication of Iran's warlike intentions. Iran's theocratic rulers call America the Great Satan. Let's believe them ... that they want to attack the US and or US allies or interests. Why not say this ? Why keep talking in blather to the press and Europeans and everyone else. Make it crystal clear that we believe their threats and will react with "vigor" to any implementation of them.

Russia threatens Europe if the US installs a missile defense for Europe against Iranian missiles. Russia implies this defense hurts them. Why ? It obviously has no effect on Russia. Russia helps Iran build nuclear plants and probably with weapons. So why not reply to Russia this way: Russia, you are helping Iran threaten US allies and helping Iran build offensive weapons capacity, and even to defend their nuclear installations ... which Russia is helping build. So simply say, Russia, you are part of the problem, in helping Iran threaten others. You stop helping Iran and we won't need this missile defense. Otherwise, we do.

See how this works ... plain speaking. No bureaucratic nonsense ... risk of misunderstandings are eliminated. Real problems crystalize and solutions become obvious.

Why doesn't the ruling class do this ? If I was paranoid, I'd say they just want to confuse the public and obfuscate issues for their own agenda. Which might be letting problems fester so their friends in the military-industrial complex can sell more weapons. Nahhh ...

By the way, why is the US paying for a missile defense for Europe that the European public doesn't want ?

Why not just say, plainly, "Europe, here's the technololgy. As allies, US will help you buiild it, but you're paying for it. Not the Average Joe in the US."

PS: "Steve & Barry's" to file bankruptcy petition ... what the heck is a "Steve & Barry's" ? Never heard of them nor seen a store.

PPS: I keep hearing this "raise capital" crap. Look, PROFITS attract capital, not losses. So financial institutions need to raise credit spreads, which has already happened a lot, and cut pay for Wall Street. That brings profits that attract capital.

Words of the Day

"Villein" - noun [$10] historical; "Villeinage" - noun
Villein means a feudal tenant entirely subjest to a lord or attached to a manor.
Villeinage means the tenure or status of a villein.

"Etatism" - noun [$100] from French; "Etatist" - noun
Etatism is a synonym for state socialism: a theory, doctrine and monvement advocating a planned economy controlled by the state, with state ownership of all industries and natural resources.
Etatist means a person advocating etatism.

Paragraph for both: The 20th century provides three fine examples of how etatism leads to incredible evils in practice in human societies: National Socialist Germany, Stalinist Soviet Union and Mao's China. Etatism reduces human beings to villeins in an entire nation or empire ruled by a one or a few ruthless lords. Friedrich Hayak wrote about the evolution of etatism in his seminal book, "The Road to Serfdom" and his theory operated as predicted, as the most ruthless and criminal persons came to rule in all those etatist societies after an initial phase. Why do so many "intelligentry" still belive that etatism works for humanity ? Maybe they just want the power as lords over the common villeins.

52 comments:

Bunkerman said...

Btw, my comment about C being "dumb" applied to the old management. I think Pandit, the new CEO, is smart and that was the principle reason I bought the stock ... too early, as usual.

Bud said...

i heard on bloomberg-tv this morning that the first half of 2008 was the worst year ever for hedge funds

not coincidently it has also bee a horrendous year for the stock market (longs)


'be careful what you wish for'

Bud said...

lets summarize

the Bman wants more regulations in the financial industry..........more regulations means less leverage......less leverage means lower earnings......lower earnings means falling stock prices


Bman sure likes to root against his stocks

Bud said...

The Bman's calls for increased government regulation of investment banks and interference in the capital markets are textbook examples of etatism.

Bud said...

very interesting Heard on the street column in wsj today

the FASB rules could force C , BAC and JPM to take billions of assets on to their balance sheets

which means they will have to raise additional capital.......and on and on and on we go.....


the american financial system is on the verge of collapse

Bud said...

oh wait......i forgot


they will make it up on market share

Spin-em said...

pass the salt bud......

mfl59 said...

a guy makes a few putts and suddenly he's wearing a white wig 24 hours a day.....

lmaooooooo

Spin-em said...

Nationwide tour moves event from one club here to spinny's club...loool..I bet they fire 40 under...

Bunkerman said...

more regulations means jsut going back to the 1980s ... profits were fine then.

But it means much less pay for Wall Street scamsters.

Bunkerman said...

lol Bud ... I don't think regulation = ownership.

At least at the levels I propose.

Bunkerman said...

btw, European banks seem to be worse off than American ones.

Bunkerman said...

I don't see why the banks would just not eject any SPE that might com onto balance sheet. Since they are not liable for the debts, why take them on ?

the key word in the article is "could".

Also doubt that FASB would not "grandfather" old transactions.

Bud said...

BAC candle from yesterday looks interesting......i actually may have to get in


'great trade Bob'

Bud said...

ken lewis is the man !!!!!!!


'armageddon'


pffffffffffffffffffffffft

Bud said...

i need SKF to really tank today


'great trade Bob'

Frosty said...

Bud...those long lonely endless nights...when it is just you and your hildog poster...sir, are you using the claw grip.

Bunkerman said...

this oil inventory babble is such junk ... a big draw ... uh ... oil compnaies didn't want to buy oil at $140+ and store it.

big deal.

means nothing.

gasoline demand #s are key.

Frosty said...

Bunky should we be getting long GE ahead of earnings friday.

Bunkerman said...

the claw grip ...

hmmm ... sounds like a Kung Fu death hold ?

style of the eagle ? or the turkey ?

;-)

Bunkerman said...

I am long a lot of GE ... enough.

I figure they do ok ... stock is very "cheap"

;-)

Frosty said...

Kung Fu LMAOOOOO

Bud said...

kung fu


lmaooooooooooooooooooooooooo

Bud said...

'the claw' is a golf term

it is a style/grip used for putts

it's gonna bring my yhaoo handicap index down to 12-13 from 15-16 over the next 2 months

Frosty said...

Bunky...check your country club index card file...all those years of endless summers at the club with biff and crew your file must be huge...how many servants to retrieve it from the memorial library...over under is 3.

Bud said...

does david tice read this blog??

he just said on bloomberg-tv....'this recession will be the worst since the great depression'

Frosty said...

Bunky...we talked yesterday the need to maintain dividends for fins to raise capital...here is a reason they may have no choice but to cut...what a stupid thing to do.

New York-based Corsair in April led a $7 billion cash infusion into Nat City. Under the terms of the original agreement, the firm was protected from having its stake diluted should Nat City seek to raise additional capital. Nat City and Corsair revised the provision last month after Fed officials balked at it, because they fear these provisions will make it more difficult for banks to raise additional capital down the road, sources familiar with central bankers' thinking say.

Corsair, however, is not the only private equity firm to have such protections in its investment agreements. TPG, which in April invested $7 billion in Washington Mutual, had a similar provision. The Fed may issue guidance on the subject in the next few days, either prohibiting such investments, or clarifying its position, say banking attorneys.

A Fed spokeswoman declined to comment.

In agreements governing both the Nat City and WaMu capital infusions, if the bank issues new equity at a price below what the private equity firms paid, it must compensate the private equity firm.

"The Fed clearly feels that when private equity firms put these anti-dilutive provisions into these capital raises, they're constraining the ability of the [bank] to raise capital in the future," says Richard Bove, an analyst at Ladenburg Thalmann.

Bunkerman said...

NCC has been a pos for 40 years.

Bunkerman said...

uh ... frosty ... my "country club" is the rifle - pistol range.

Bunkerman said...

no "putter" ... a boomer

usually the Weaver stance & grip with the .45

But I can hit'em any way

;-)

Frosty said...

sounds to me like this was SOP...C must have done the same stupid thing...check it out, but I think they still might be dumb.

Bud said...

holy smokes

i don't see how anyone can be long american banks

i am in them today....and i gettin clocked


American banks really are a bunch of crap


'great trade bob'


pffffffffffffffffffffffft

Bud said...

SOP????


wtf u talkin about frosty


PS....is that some sort of code for 'wide stance' ????

mfl59 said...

Bunkerman what is your opinion on the situation with Iran? lots of whispers within the beefer community of war coming....

Frosty said...

LMAOOOOO...wide stance...stadard operating procedure...let me give an example: you shank the first tee drive, with two mulligans per side, what the hell still have one for the water hole #8...there you have a SOP to guide you on your way to hcp 13.

Bunkerman said...

I think an Israeli attack would be quite difficult ... too far.

But the risks are there and they might do it. I am no expert on Israel or their leaders or public opinion there.

I hear good logic for it - the US coudl do it easily - but US has Iraq and B-2's and B-1's and cruise missiles and aircraft carriers.

I'd prefer a revolution there kicking out the mullahs and going the Turkish route to modernity.

No opinion.

Bunkerman said...

banks are the target of choice for raids, Bud.

Spin-em said...

beautiful call on coals "Bob".....Ohh sorry that was an email...nevermind..lol

Bud said...

i gave back all my gains from frosty's SKF darkside trade yday


ugh

i guess you do know somethin about banks workin in the mailroom

Bud said...

i don't take mulligans

the score i enter in yhoo hcp tracker is my real score

Bud said...

that's really funny spin

no retroactive trades.....and no stroking on private emails


pfffffffffffffffffft

Spin-em said...

sorry bud...my mistake.I know how you hate the retro's...thought you got the email

Frosty said...

sir our service does not include risk management guidance...that will be 6k...have a nice day.,,,now fetch the nannies an ice cream bar.

Bud said...

sharkfolio is 97% cash

it's been outperforming


PS.......uh spin.......i was kind of joking.....did i scare you??

"sorry"

Spin-em said...

uh..so was I..LMAOOOOOOOOOO

Spin-em said...

will you take 6k spaghetti shack gift card?

Frosty said...

Bud sounds more like mern every day...looking for someone to bust half the mcmansion nut....bring your own beads.

Bud said...

loooooooool 'mern'

i'm just real upset with myself today

shorting american banks nad brokers has been puttin food on my table for weeks

and i screwed up today....oh well....what can i do but laugh........i'm not like mern or Bman ...and cry like a bitch

'1920s manipulation' 'straitjacket of regulation'


PS....also pissed cuz i didn't get the private email with some supposedly 'great trade bob' call on coals

mfl59 said...

mern no love for elton brand sir?

mern said...

yawn bob. im taking 2nd on your balk.

gotta date with a SMOKING HOT, 27 yr old that i just met last nite.

gud to know i still got da skillz.

and the ex worden still brings me sexual delites, even as she moves on. (i guess that becuase chix dig having 5 to 7 orgasims everytime they ride the mern express)

oh and guess what, since she never signed the pre nup, im still rich, bitch!!!!!!!!!


elton brand we will see. the sixers have a 20 yr habit of just making dumb move after dumb move.

it started around 86. when they had the first pick who was brad dougherty (probably played in 7 all star games), and traded that for tim mccormik and roy hinson, who both just suxed my ass.

then trade moses malone, who played another 10 yrs for jeff ruland who played 2 games, blew his knee out and never played again.

if brand is 100% healthy and plays great next yr, they cud make a run deep into the playoffs, but they wont beat boston.

they shud have weighted, freed up more cash, for the big party in 2010.

lebrown to the brooklyn nets is a lock.

whatever the philly mush aint ending for a long time unless the phillies get a real gud starter like today. or the iggles get a nasty wideout for donny, like 2 yrs ago.


i dont know, but when i traded and i was early and took a loss, i just said, oops, i was wrong.

early ='s wrong.

i am no great technician but an engulfing bear on huge vol, (and plunging into bear market territory) wud probably having me eject from all longs, and deciding how and why i was so wrong.

my first guess wud be not fully understanding the stupidity of elmer and just how long the housing bubble lasted.

2nd i wud acknowledge that this is not an oil bubble. i see 63 articles a day about this bubble, but not about the real bubble that is popping, and that be the hedge fund bubble. TRUST ME ON THIS ONE!

that bubble blew up, and its the 2nd or 3rd innings of the beefers demise.

yet no one talks about that.

hmmmmmmmmmmmmm

off to pussy practice

last question.

what do jesse jackson and bud have in common?

they are both dark complected elitist that can stand another being prez. IE a self hating brown person.

its ok, im a self hating whitey

Spin-em said...

"gotta date with a SMOKING HOT, 27 yr old that i just met last nite."

attaboy...whats his name?

Spin-em said...

" (i guess that becuase chix dig having 5 to 7 orgasims everytime they ride the mern express)"


hic..uuuuppppp...hicuuuuuppp..looool