Friday, June 26, 2009

Learn from the Ancient Greeks

Oedipus

Dear Congressional Niegodziwce*: Regarding your glee in smearing a true stalwart for US economic stability, Battleship Ben Bernanke, please re-read the famous tragedy, Oedipus. Some knowledge is not worth knowing. Your own posturing in seeking “transparency” seems rather vile, as you surely love the cloak of darkness for your earmarks. And many financial decisions are best made quietly as the unintended consequences of letting every single market participant know a decision is imminent can cause huge dislocations.

Like making sausage or how that steak got on your plate, or the past of Oedipus, some knowledge is better not known. Learn from the Greeks. [The hubris of Oedipus in incessantly seeking the knowledge of his origins led him to learn and show to the public that he had unwittingly killed his own father and married his mother. Consequently she killed herself and he blinded himself from the torment of that knowledge.]

*Yesterday’s Słowo Tygodnia aka Word of the Week in nominative plural form, meaning “knaves” or more humorously, “nogoodniks”.

Germany

It’s rather obvious that German policy makers’ are delusional, particularly Ms. Merkel and the finance minister. They seem to criticize US decisions by the Fed, Paulson, Timmy and Obama, yet don’t recognize their own nation needs the same efforts immediately. The evidence ?

FT: “Germany’s powerful export industry is warning of a credit squeeze in Europe’s largest economy even after the European Central Bank’s injection this week of one-year liquidity into the eurozone banking system. The German BGA exporters’ association on Thursday forecast a “dramatic deterioration” in credit conditions in coming months, which would result in “massive financing squeeze”.

"Anton Börner, BGA president, told the Financial Times that “for middle- and long-term credit we already have significant difficulties”. Even for short-term credit, he expected banks to “exert massive pressure on borrowers”.

"The alarmed tone is significant because German policymakers have argued that the export-dependent country is not facing problems in the supply of credit to business or households. Instead, the economy is seen as being hit by a global collapse in demand for its industrial products.” [my emphasis]. "

My dear Angela: it’s 2009, not 1923. [I suppose that should be in German. Eventually ...] Let’s hope she and the finance ministry cease their glee at US problems and focus efforts on their own. And they’ll be eating crow soon as they copy correct US policy moves. Their hubris is being punished.

Russia

Same situation. Past hubris is being punished – that is, the glee shown by Putin and Medvedev at US problems.

FT: “Russia is looking at a bail-out of its banks that would go further than the emergency action taken by the US, amid growing fears that bad loans could paralyse the country’s economy. “Igor Shuvalov, deputy prime minister, will consider taking stakes in troubled banks when a group of experts on the financial crisis meets on Friday to discuss ways to recapitalise Russia’s banking system, according to a draft proposal seen by the Financial Times. “

Dear Dmitry & Vlady: those “bad loans” were not made to US subprime borrowers, but to Russian magnates. Shut up and fix your own problems, please.

Central America

WSJ: “Honduran President Manuel Zelaya's push to rewrite the constitution, and pave the way for his potential re-election, has plunged one of Latin America's poorest countries into a potentially violent political crisis.”

A Chavez wannabe is causing trouble. Dear Obama: Don't let this get out of hand. Honduras IS in the US backyard.

Markets

Ms. Market put on a miniskirt yesterday and danced on the table. Rising stock prices seem to underline a defense of the markets 200 day moving average [“DMA”] and 50 DMA, after the usual break to run stops. Thank you beefers for your predictable antics that gave us a decent dip to make a few adds.

Word of the Day

"Flagitious" - adjective [$10]
Flagitious means criminal, utterly villainous
Sentence: Some Congressmen are mere knaves, but others are flagitious.

Le Mot de la Semaine

"Fripon" - noun, masculine
Fripon means knave, rascally fellow, rogue. Thus, niegodziwiec and fripon have the same meaning. The adjective, fripon, [F friponne] means mischievous.
La Phrase: L'homme du bunker pense que la plupart des politiques sont des fripons.
sentence: Bunkerman thinks most politicians are knaves.

78 comments:

Bud said...

yesterday's hearing with bernanke was a farce...........to watch those assholes 'interrogate' ben and treat him with such disrespect really pissed me off


kucinich and burton especially.....f'ng scum

Bud said...

you don't need this Ben..........the president doin you a favor by firing you............this congress and president is on the path to economic destruction

exhibit A : this climate bill a disaster for our economy

Bud said...

'predictable antics' huh ???


what a bunch of thumping tosh

Bud said...

no polish word ????


pffffffffffffffffffffffffffffft

Bud said...

Bman have you upgraded to the latest iphone ?? or do you use somethin else now

mfl59 said...

Uhhh.....Bud if i recall didnt you once concede that your views match up with those of Mr. Kucinich than any other politico?

Bunkerman said...

I just use the original iPhone. I don't use it for much data / Internet stuff.

I just use it for outgoing calls, to get my stock quotes & as an iPod.

Plus some weather, etc.

Very light user. I don't want to learn all that stuff - don't need it.

I've never done a text message, either.

Bunkerman said...

oh Bud, from my commodity days, the funds always break trend lines & logical support level to run stops.

Sheesh.

Bud said...

i don't ever recall sayin that ace.......typical...........misrepresent my views..........f'ng jerkoff


oh....here you go



www.v1sports.com/Academy/JOGA



password = password



and then click on view.............also this is the first lesson.............my swing much better now

Bud said...

quotes ?? why do you need quotes in such a hurry.......can't you wait to get home


long term long only investing indeed

Bud said...

never done a text



lmaooooooooooooooooooooooooooooo

Bud said...

the lyin cheatin scumbag A-fraud ties reggie jackson last nite.............what a sad day for baseball


and those sleazeball child molester yankee broadcasters all excited


F the yankees and F their f'ng fans

maverick said...

well done Sal....but with all that mass you could be crushin the ball...you are all arms....pivot and drive baby...torque

mfl59 said...

I do like the white belt....

Bud said...

shutup ace


i don't need no 'advice' from a driving range hack...........i'm workin with a pga pro



PS............ace you want your swing analysed ?? i'll ask john.........i get you a good price........lemme know

Spin-em said...
This comment has been removed by the author.
mfl59 said...

no thanks Sal...Im not into that fancy stuff....

Feb 2010 indeed....

Frosty said...

June 25 (Bloomberg) -- Louis Gerstner, the former International Business Machines Corp. chief executive officer, said that short-term investment gains should be taxed at 80 percent as a way to counter the culture of greed on Wall Street.

Bunky, where are your heros at the SEC...with an uptick rule we would be consolidating gains spiddy 1200 this summmer ready to rip to new highs.

Spin-em said...

thats a lil steep Lou.......lool maan

Bunkerman said...

I heard bits of that Gerstner interview. What an idiot.

SEC is in the tank to the Street ... probably getting help from them to gut any uptick or short sale rules.

Bunkerman said...

it wouldn't affect trading by hedge funds with pension fund investors. They are some of the worst beefers.

Bunkerman said...

With a rule like that, bid-offers would sure widen out.

That would cost public plenty.

what an idiot.

Bunkerman said...

Gertner is a typial corporate ruling class swine.

Frosty said...

"alot more yards in those legs."...ppfffttt....there is only so much power a midget can generate...bradshaw has nonono worries, meredith wouldn't look twice.

Bud said...

hedge funds with pension fund investors are some of the wort beefers ?? huh ???? yes.......helping fireman and teachers and cops with their retirement is bad

what a bunch of thumping tosh

Bud said...

well well well

i thought y'all weren't worried about a trader tax.............now posting scumbag lou gerstner's comments


keep your heads in the sand..........the spearchucker is comin after our jobs

Bud said...

Bman do you read rolling stone ?? they have an article from that piece of shit matt taibi talkin about how the evil goldmansachs controls the world


there is ZERO chance of economic recovery without GS above 200..........period

Bunkerman said...

Bman do you read rolling stone ??

Nein / Nie / Non / No / No

Never have read it.

Bud said...

Bman how do you say 'i'm gonna knock your f'ng teeth out' in polish ???



oh............you know someone in the seattle fbi ???........i don't care..........i'll knock his teeth out too

Bunkerman said...

yes.......helping fireman and teachers and cops with their retirement is bad

Sure, they did a great job helping retired policement by driving oil prices to $4/barrel last summer.

They just want fed and will kill anything to get fed.

pirahnas.

Bunkerman said...

eventually, Bud, I'll be able to come up with those without a lot of work. Not now.

mfl59 said...

I must admit I dont see the resemblence to John Secada....you appear to look more like a Lance Bass...

Bunkerman said...

F*** Y** ! is
Pieprz się ! (very informal) or Pierdol się ! (vulgar)

(from the unabridged dictionary)

Bunkerman said...

by the way, that 'rz' is prononced like the 's' in 'pleasure'

And the Polish 'si' is pronounced like 'sh'

Bud said...

do you see any resemblance to larry holmes ?? huh ??


cuz you will in the ring when my left jab pummells you into submission


'all that mass'

mfl59 said...

that stuff may fly with your upper east side prep school "tough guys"....but not here pal....


jersey style indeed

Spin-em said...
This comment has been removed by the author.
Spin-em said...
This comment has been removed by the author.
mfl59 said...

Bunkerman what's on the menu for the weekend? In honor of your Polish lessons I'll be heading to the Polish butcher and picking up some beautiful kielbasa for tomorrow....

mfl59 said...

Did anyone see the segment about Lenny Dykstra on Real Sports on HBO? oh my lord....

Bud said...

Nails

LMAOOOOOOOOOOOOOOOOOOOOOOOOOOO


he's in denial........'f'ng liars.........bullshit...........i got 10grand in my pocket'

mfl59 said...

lmaooooooooooooooooo

"investment guru"

he really has made a few wrong turns....

Spin-em said...

that was brutal... stole 8k from stewardess on jet...nice..pffttt

Frosty said...

SWHC another stock of the week another tank job...at least nails had a couple good years after the great run into 2000...a stand up guy and comparatively brilliant.

how do you say "I worship at the feet of a pigshark" in polish.

mfl59 said...

"You owe the stewardess 8k"


"The stewardess? fkk that stewardess!"

Bunkerman said...

weekend: Weisswurst (=bratwurst) one day.

Homemade pizza another day with smoked Polish sausage.

Breakfast: farm fresh eggs, leftover sausages.

Languages: Italian, German, French

Parties: every night. Wine, fine music.

or beer if it's hot outside..

Bunkerman said...

uh Bud ... if you play Larry Holmes, watch out for the Conoey shots.

;)

Spin-em said...
This comment has been removed by the author.
Spin-em said...
This comment has been removed by the author.
Bunkerman said...

the verb for worship (=idolize)would be "uwielbiać"

I worship = uwielbiam

mfl59 said...

may I suggest, if you are feeling daring, to cook your pizza on the grill....comes out crispy and very tasty...

Bunkerman said...

well, usually by the time I get around to cooking the pizza, I've a "bit" of wine, so doing something daring is stupid.

I have a nice pizza stone for the oven & the homemade cornmeal crust comes out superbly on it.

Frosty said...

anyone still wondering why fat al smokes bunky in the annual flapjack contest...the only difference between a rut and a grave is the dirt in ones face.

Bud said...

Bman did you read mr G in the ft ??

he is very worried about inflation over the next decade.............a real threat to recovery

Bud said...

brazil -275 USA +700


hello mern ..............what do you say ??? you know what i say....

'keep it respectable boys'

Bud said...

what's the deal here ??

i have a private whisper conversation with someone in the tank.................and he ( she ) spreads it around


f'ng queers

Spin-em said...

"Mission Accomplished"


touched a nerve.......callin off the dogs..."sorry"

Frosty said...

spicflu spreading like bs in the bunker...Mern time to load the half track.

sorry about that QID trade.

Bud said...

oh...........shoot


well played spin..........well played indeed


lmaooooooooooooooooooooooooo

Spin-em said...

oh...........shoot


well played spin..........well played indeed


lmaoooooooooooooooooooooooo



looooooooooooooool..I was waitin in the weeds... mernystyle...good sportsmanship azzhead...(shake)

Bunkerman said...

Elmer's been wrong about so many things. I didn't read it.

Bunkerman said...

I've already got a killer pancake recipe ready for Al. He's doomed to lose the next contest.

Rut ?

My homemade pizzas are soooo good - and different almsot everytime.

And I already make the best fried egg in the US.

And with the Spam on the side,

Magnifique !

Bud said...

that's real funny frosty..............you almost bankrupted the poor guy with that stupid QID call..................and now you find it amusing............man you really are despicable



Pierdol sie bob !!!!!!



PS......still wanna be friends ???

Bunkerman said...

and my homemade pemmican is sure to win the canoe trip cooking contest.

Bunkerman said...

Bunkrowiec jest znakomity kuczarz.

Bunkerman is an excellent chef.

mfl59 said...

little hint for your pancakes Bunkerman....a splash of club soda or seltzer....they come out as light as a cumulonimbus cloud...

Spin-em said...

roflmaooooooooooooooooooo mike

Bunkerman said...

interesting idea.

It's the taste that matters, not the shape, looks, etc.

But maybe a like, airy pancake could hold more butter - give a winning taste.

Hmmm ... will experiment.

Spin-em said...

frosty..how do you make great gravy?????

Frosty said...

burn the drippings paki dark!!!

mfl59 said...

they come out a bit lighter...and melt in your mouth...

Bunkerman said...

hmm Polish for "pizza" is "pizza" a feminine noun.

A mushroom pizza is "pizza z pieczarkami"

Spin-em said...

looooooool index card

Frosty said...

"they come out a bit lighter...and melt in your mouth."....bum bum bum.. bum bum bum, bum de bum... bum bum bum ....trebek "what say u Sal"...what are darkmeat skankseneaters after a night with Mern.

Bunkerman said...

Another prominent reader: DJ reports Google Inc.'s Chief Executive Eric Schmidt Friday said he thinks the current economic and financial crisis is largely behind us. Schmidt made the remark in front of an audience at the Cannes Lions advertising festival. The worst period was in the spring, he said. "Things have stabilized though and that's good,"

Spin-em said...

great weekend bunkerboyz cya monday!!

Bunkerman said...

yes, enjoy the weekend

Eat, drink & be merry.

Hmm ... I need that multilingually

mfl59 said...

Sal just remember this when you are on the first tee tomorrow....keep that right leg planted like a fence post...no swaying...and tighten up that backswing...the rest is cream cheese...

Feb 2010 indeed...

"driving range pro"