Thursday, March 19, 2009

Another Salvo

Battleship Ben fired another full broadside at the doom-mongers yesterday. All nine 16" guns let loose with well-aimed fire. The Fed will buy $300 billion of intermediate term Treasuries, up to another $750 billion of Fannie and Freddie mortgage-backed securities, and $200 billion of their debt. Big guns indeed. This should help keep intermediate term interest rates low as the Treasury funds its stimulus plan.

The move also ensures the frightened rich and institutions will receive little income from hiding in Treasury investments, instead of investing in the real economy. Good news all around.

BO continues to bloviate. Timmy tried to talk tough. {wow a five word alliteration !} Maybe I should give BO a more elevated nickname. How about the Bloviator? More buncombe from the Bloviator ?

Uh ... BO ... perhaps you should spend some time on staffing your administration instead of being a male cheerleader at a roving pep rally.

Markets

Another up day. I wonder when the bears will counterattack ? They rolled out Molotova in recent days, but her cocktails sputtered and died. Did her departure to run her own shop signal a bottom ? I wonder.

If Obama would perform as a President and not merely as the Bloviator, I'd say yes. But he is surely doing a poor job and his radical proposals on carbon credits, among others, might cause long term damage. Watching ...

Frauds

Blabberg reports that 33 million shares of LEH were sold short and NOT delivered. What a fraud! Hello SEC, are you there ? File some charges !

More ...

I see Lyndon aka W is writing about his decision as President. I wonder who will be the artist for that comic book ?

Word of the Day

"Repristinate" - verb, transitive [$10]; from the card file
Repristinate means to restore to an original state or condition.
Sentence: One cannot repristinate the economy to conditions of September 2008 to reform the TARP. Decisions had to be made under exigencies at once. From the current low LIBOR rates and the restored faith in money market funds, obviously the bulk of Hank the Tank's decisions did work as planned. Some mistakes were made, as we now see à propos AIG. Overall, Hank gets an A-. The '-' is for not delegating someone to check out AIG and stops its frauds.


Le Mot du Jour

Prêter - verb, regular -er conjugation
Prêter means 1. (transitive) a. to lend, b. to attribute, to ascribe, c. to give, to lend; (transitive indirect with à) to be open to, to lay oneself open to.
La Phrase: (from a headline in Le Monde today) La Fed prête à intervenir massivement sur les marchés.
Sentence: The Fed is open to intervening massively in the markets.

56 comments:

mfl59 said...

I thought the rich invested in hedge funds Bunkerman, not treasuries....

mfl59 said...

Did I hear Spin's idol Donny Deutsch say last night "Can anyone come up with one reason not to be bullish?"

lol...atta boy Donny

mern said...

did the fed just bailout bill gross?

smells like it.......

or maybe i just queefed.

Bud said...

well said Bman.....let's drive the yield lower


Ben gets an A+


PS.....too bad the president ain't gonna reappoint him.......the left will demand some uber-liberal academic from the university of chicago

Bud said...

nickname ??



mooly-in-yan


moon cricket


bootlip




a few suggestions

Bud said...

donny douchebag ?? come on ace


i run for the remote as fast as i can when he is on



same with john bogle

Bud said...

isn't that how it works Bman...........as soon as meredith does an ipo..........that may be the bottom



PS.............kind of defeats your arsonist theory


'meredith the marionette'


all-time top3 nicknames

mfl59 said...

Well Bud, I figure if Spin loves him so much, there's gotta be a reason....

Bud said...

carbon credits i.e. cap and trade



a complete disaster for our economy

Bud said...

Bman are you holding any of the insurance stox ??


PRU MET AFL etc......

Bunkerman said...

You need to think more dynamically, mfl - they pulled money out of hedge funds and put it into Treasuries.

Don't have a static mind.

;)

Bunkerman said...

no insurance stocks - I'e never understood how to value that business

Bud said...

spin love letter list


A-fraud


donny douchebag


bob




still developing

mfl59 said...

lololol for a rich guy you sure hate the rich Bman....

mern said...

Just kind of violates a room karma to show up day 1 and start saying you dont believe my thesis your all morons and btw this country sucks and I plan to be gone from it in another few months while you dumbasses go broke and starve as your opening posts.
Besides from that he was a nice guy.....


rofl !

Bunkerman said...

well, there is "rich" and there is "RICH"

;)

I follow Pericles, most of the RICH do what he criticizes.

Bud said...

don't worry about my teeth..........worry about yours......they may get knocked out




PS.....where my 'ops expo open interest' spreadsheet ????

mern said...

its pitts year!

mern said...

rumor, eagles make offer for boldin.

lurie busted out a straw penny, a pack of camel (no filters), a 2004 NFC championship t shirt, and the rights to reggie brown and reno mahe. plus a 7th round pick in the upcoming draft.

i cant see the cardinals not going for that!

Spin-em said...

quite the bitch rants today bud.....what? ya got cock blocked last night??...I think so...take a Pamprin and a nap,you'll feel better.....my work here is done...

"mission accomplished"


loooooooooooooooool

Bud said...

lmaooooooooooooooooooooo

Spin-em said...

lmaoooooooooooooooooooo

Bud said...

BAC

'thanks jim'


AIG


'thanks jim'



FNM


'thanks jim'







cha ching cha ching cha ching

Frosty said...

Long 100 SDS my shark market timing fund...only down 16%...thanks jim...can I wash the prowler sir.

mfl59 said...

Bud what kind of driver do you have sir?

Bud said...

listen you f'k


i don't wash anyone's car..........i work for myself.........1-man shop........but i am always ready to give credit where it's due


man you really are a prick



PS......i own a volkswagon passat 2006..........paid for in cash.......all thanks to....well...


'thanks jim'

mfl59 said...

uhhh I meant golf club, not car...

mfl59 said...

uhhh I meant golf club, not car...

Bud said...

oh....sorry........bob got me pissed with his stupid allegation......



taylor-made burner



lmaooooooooooooo

mfl59 said...

the old school kind? sounds like you need an upgrade sir...

mfl59 said...

ahhh ignore that comment...i was thinking of a different club

Spin-em said...

uhhh I meant golf club, not car...


LMAOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

Spin-em said...

the delete buttom comes in handy sir.......

Frosty said...

"man you really are a prick"...you can't speak to me that way, I drive a dodge startus...passat bitchwhip...I think so.

Frosty said...

strikes of nasty lore..goog 330 amzn 70 aapl 100...grab a bucket, my stratus needs wash.

SRS King lives in jersey ya say...I think so.

Bud said...

what does that mean ??? is that the stupid 'piining' garbage ???


man i wish i knew where bob lived.....i'd drive over in my volkswagon and.....


'knock your teeth out'

Spin-em said...

T2108.....49 official dickball territory..lmaoooo

Frosty said...

http://maps.google.com/maps?source=ig&hl=en&rlz=1G1GGLQ_ENUS305&q=oregon+map&um=1&ie=UTF-8&split=0&gl=us&ei=9m7CSZ6xNJKasAPlgeHzBg&sa=X&oi=geocode_result&resnum=1&ct=title

GOOG maps link...big house end of the lane...I'll leave a light on.

Bud said...

'ill leave a light on'


LMAOOOOOOOOOOOOOOOOOOOOOOOOOOO


well played sir......well played indeed

Bunkerman said...

It will probably be an outdoor spot to silouette you, Bud.

Frosty said...

Bunky...AA saw your 285K block...well played sir, well played indeed...huge juice.

Spin-em said...

Go on & write me up for 125

Post my face, wanted dead or alive

Take my license n' all that jive

I can't drive my Puss-at!! 55!

Oh No! Uh!

mfl59 said...

I have become so bullish that I have decided to convert my dedicated short funds into long-only partnerships. This morning, I have decided to move both my short and intermediate-term market ratings to an all-out buy -- my new market rating is now 10-10! -- based on the following considerations:

• While I initially expected a 5% to 10% decline in the S&P 500 this year, my new year-end S&P target is 1,666, for a gain of 26% from current levels. I might be low.

• The writedown of toxic paper throughout the world's financial system has dramatically overstated the severity of the credit issue. In fact, I fully expect, in the fullness of time, that a write-up of balance sheet assets in 2009 at the major money center banks and brokers will be a contributing factor to a surprising 25%+ rise in corporate profits.

• Shares of financials, which have been unfairly targeted by the short community over the last year (monoline insurers, banks, brokerages, etc.), could double in price by year-end.


For a case of rocks...name the author

mfl59 said...

It is now clear that the U.S. economy will not enter a recession as housing has definitely bottomed and the consumer (who is pent-up, not spent up) appears capable of leading a domestic growth surge in 2008-2009. • Speaking of housing, the weakened U.S. dollar has begun to result in a dramatic increase in foreign purchases of high-end homes on the East and West Coasts. The record inventory of unsold homes should be cleaned up by the fall, and, by spring 2009, a large increase in Wall Street hiring suggests that a housing shortage is possible within 12 months

tejasjeff said...

Paging Prez Obama..
There is a place called the Oval Office.
Its Nice and its free.
Hell ,guy couple of terms back used to bang pizza delivery chicks/clerks in it.
Its that cool of a pad.
Please go there sit down and find someone for Timmy to jawbone with.
sheeshh

mern said...

oh man, its been yrs since i read that fool, but i can spot dougie kass anywhere, anytime.

the guy is simply not happy, unless he is tinkling into a strong headwind!

mfl59 said...

yes...it is Kass...in April 2008

mern said...

GUD 1!

lol

u can send my case of rocks to sal. i dont drink anymore!

Spin-em said...

he doesnt drink any less either!!

ba dum bum

Im here all week folks..try the chicken.....lool...

good luck merny

mern said...

nope, ive stopped, for now, 4 days and counting.

i agree with mister sintra.

the best part of being sober is waking up, the rest of the day is down hill with nothing to look forward to.

Spin-em said...

you get arrested???...had to be something good.. what was the kicker??(come on..you can tell us..lol)

tejasjeff said...

Obamas Teleprompter has a blog.

http://baracksteleprompter.blogspot.com/

LOL

mern said...

anxiety was really getting to me. i read up on it, and determined it was the beer. so i stopped, 4 days ago, and chucked the lexapro with it.

must say i do feel better, but bored!

Spin-em said...

anxiety???..you just got back from a peaceful Tamarindo weekend getaway right?..Why so anxious???..What happened?

mern said...

lets just say driving all by myself, for a few hours, was not fun.

i knew i was bad about long car drives, but man that was stupid.

i guess, maybe, in 2001 after my mom died, best friend killed himself and partner died, then 911 i shud have taken time off after my breakdown, but in production can u ever really get away?

now i just want out!

play soccer/ coach it, watch the sun set. yada, yada, yada......

mern said...

no cheating!

what can jesus build that obama cant?