Tuesday, August 5, 2008

More Memorable Mencken

**First published Baltimore Evening Sun, August 19, 1935**

All government , in its essense, is organized exploitation, and in virtually all its existing forms it is the implacable enemy of every industrious and well-disposed man. In theory, it invades his liberty and collars his money only in order to protect him, but in actuality it always makes a stiff profit on the exchange. That profit represents the income of the professional politicians, nine tenths of whom are professional rogues, They employ a great many technicians to carry on the ostensible functions of government, and some of those technicians are honorable and competent men, but the politicians themselves are seldom either. Their only object in life is to do as little honest work as they can for the most profit, whether in money or in mere glory. The typical politician is not only a rascal but also a jackass, so he greatly values the puerile notoriety and adulation that sensible men try to avoid.

**End of Quote**

That thought of Mencken still fits today, and it's actually even more appropriate and correct and governmental actaivity has expanded a hundredfold since 1935.

Markets

Miners, ag and some natural gas stocks got smashed yesterday. In simple terms, all beefers remaining in that speakeasy still drinking bathtub gin panicked at once and left though every exit. As usual my patience has been inadequate so I added to FCX, DVN and CCJ too early. I wonder if "Early" should have been my middle name ? I'll wait and add more down here. Over the past few years I have done rather well buying these stocks on big dips. Maybe it's different this time. While some of those related commodities are / were overpriced, these stocks never participated much in those commodity spikes, so in my opinion are quite cheap at these levels.

But I could be wrong again.

Word of the Day

"Factitious" - adjective [$10]
Factitious means 1. specifically contrived, not genuine; 2. artifical, not natural.
Sentence: The modern Presidential nomination conventions are factitious pep rallies designed as a TV infomercial to sell you their man.

33 comments:

mern said...

sorry to say this (non posters im sure r going to be upset) but big bro is watching me at the shop. so can only post until 830 am or late at nite.

im sure bud is going to be pissed.

Capt. Ramsey: [picks up the intercom and speaks into it] May I have your attention please, crew of the Alabama, Mr. Hunter has brought it to my attention that Morale maybe a bit low. and you might be a bit...
[looks to Hunter]
Hunter: [whispers] On edge.
Capt. Ramsey: [over the intercom] On edge. so, I suggest this. Any crew member who thinks that they can't handle the situation, can leave the ship right now. Gentlemen, we are at DEFCON 3, war is imminent. This the captain. That is all.
[hangs up the intercom]
Hunter: Very inspiring, sir.

Bunkerman said...

no surprise - many firms prohibit posting on blogs. Several non-posters have that problem.

Spin-em said...

a non poster has emailed me and stated that a small fraction of the non posters will hold their non-posting breath til mern returns during office hours....

Frosty said...

Mrs B congrats on out performing the old man...do you have a blog?...perhaps we can get on your private email list...well done indeed.

Bunkerman said...

added a bit more FCX.

Bunkerman said...

Mrs. B has no blog. True, her Sky Fund is kicking my Alpha Fund's butt ytd.

mfl59 said...

Bud I'll give you another chance to apologize for your comments against Rutgers football....

Frosty said...

Bunky your hero is up today, mr C- have any surprises for us today?...your buys of all the stuff a tell that his grade is headed toward a D or worse?...done goes the dollar done goes the dollar.

Frosty said...

Mrs B welcome aboard...please email the team at greatpicksnononono6k@comcast.net.

Bunkerman said...

no, my buys are just me going back to the same plays that have scored TDs for me for the past four years.

The stocks never moved up much on the commodity moves. Very cheap imvho.

Spin-em said...

Volumes Bud-dooosh(lame)

Frosty said...

Bud mia....may have moved the chains against the shankseneaster...could it be 2-1....or did Mr Hunt have him tossed down a mine shaft.

Frosty said...

“The nation’s unemployment rate jumped by 1/2 of 1% (to 5.5%) in May 2008, just the 12th time in the last 50 years that the unemployment rate has risen by at least that amount in a single month. In the 12-months following the previous 11 times, the S&P 500 has risen by at least 17.6% and has produced an average gain of 26.8%.”

(source: Department of Labor, BTN Research)

Bunkerman said...

that makes sense, frosty, as unemployment is a lagging indicator.

maverick said...

Bud a non listen when it comes to college pigskin. Iowa State indeed. geeeesh

Spin-em said...

t2108 40.13...gentleman and non posters...we are on the brink of dickball...

Spin-em said...

My t2108 dickball index card

0-44 there's momo.... gap downs you can short..gap ups on good news you can buy..think hope is lost... and afraid to miss the boat

45-64 no momo ..traders killin each other...gap ups short gap downs buy....ya get chewed up

Spin-em said...

dogs and cats living together....mass hysteria!

Bunkerman said...

hmmm spin-speak sounds bullish ... Yes ?

Spin-em said...

not for me...lol......rather then a narrow leadership that players been running to....the market kind of spreads out...confusion

Frosty said...

MER downgrades GS...we took our CDO hit, your turn...we know your screwed with the break in the stuff trade...beefer wars indeed.

Bunkerman said...

sheesh ... five power outages in 15 minutes.

Grrr...

Frosty said...

Bunky, your post today is confusing the non-posters...as if you were an advocate of free markets...you are not showing your true colors with this mencken bs...factitious indeed sir.

Bunkerman said...

ok confusion sure fits.

Spin-em said...

"commies not to self"...bunker vulnerable..no power generator?

Bunkerman said...

I have a generator, but don't power it up unless the powers off more than a few minutes.

These were one minute outages ... a series of then.

Now it's seven.

No vulnerability here ...

mfl59 said...

Mern must have found the weak link in the armor of the bunker....I'm not sure the k bar can help you sir...

Spin-em said...

mern grounded...sent to his room with no spanktravision...lool

mern said...

jesus h christ, they r working me like a dog!

here is 20 new platforms and have them down cold by the end of the week.

um i still dont understand the first 5 platforms beucase no one trained me.

pink slip coming, despite i do nothing but work my ass off.

except when there is absolutely nothing to do, which is like half the time.

either its doing 4 things at once, or rubbing one out under my desk.

i miss trading

Spin-em said...

come on merny..you ever carry a pack of shingles up a ladder?..just say "youve got it" and collect your check....

Frosty said...

private email club rule passed tonight...new memebers save 50% now with 12k up front...paper traders welcome.

Spin-em said...

QID in season next month... get your "dough" license to hunt today.....

mern said...

bob u still got any 65 $ QID.

im just wondering becuase the mern fund blew up on your advice!


that will be 8k, with a nanny, some HGH, and a pink thong.

i lost 25 lbs!

how did i do it.

miller lite and vitamins.

sure i piss out my ass all day, and i shit my shorts when playing soccer, but i keep tp up my bum.

nutrasystem and hgh my ass!

just drink beer, take pills and cry yourself to bed at nite

oh by the way, got a 21 yr old lead tonite that i am pretty sure i will have my tongue up her ass in 14 days.

holy shit is this one a hottie! and legal! excuse me while i snap one to lily thai!