Archive for the ‘Fucking Markets’ Category

I don’t think any of us thought that Silk Road was being run from any location in the US.   Not if the owner/operator, Ross Ulbricht was smart, anyway. Not that he’s not book smart, he’s got degrees in physics and chemistry, but he was extraordinarily careless in keeping his identity hidden. I don’t know if this was lack of knowledge of how to hide and protect himself from prying eyes (doubtful) or if Ulbricht’s hubris was so great that he thought he couldn’t be traced. The FBI claims that evidence was obtained through monitoring the administrator login and through making purchases through the site, but would any of us be surprised if the NSA had a hand in this?

This would be a fun trial to watch if it weren’t for the side issues of murder for hire, computer hacking, fraud, etc. There are so many privacy and liberty issues tied up in the existence and use of Silk Road, as many of the ‘victimless crimes’ have found a home there. Ulbricht’s defense could probably run something along the same lines as why the creator of BitTorrent has never been prosecuted, except for the minor issues of hiring a hit on someone who was blackmailing him and obtaining a counterfeit identity.

It’s going to be interesting to see what happens to Bitcoin market value over the next few weeks and months. The largest place to spend them is shut down, so the demand won’t be as high, but at the same time tens of millions of Bitcoins were seized so the number of Bitcoins on the market is greatly decreased.

Veeshir seems to have taken up the mantle of doing roundup-style posts since I’ve mostly abandoned blogging, but every once in a while I still will need to clear out my bookmarks…

Moe Lane: “The essential problem with the Chuck Hagel nomination.” – Moe is too kind, but basically on-point.

Everything the O-bots told you about Obamacare was a lie.  We informed you thusly.

Wounded Warrior Project rejects church’s fundraising efforts. So I guess the ads singing “Say a prayer for peace” were entirely secular prayers to nobody in particular, or something.  (“… one or more gods, or fewer…”)

A nice long write-up about the hubbub in Mali.

Reason: No, WWII did end the Depression.

Pending debt crisis link #1.

Pending debt crisis link #2 (Pethokoukis @ AEI).

PIMCO’s Bill Gross on the “Credit Supernova“.

Happy days are here again: No-money-down mortgages are back, baby! (Facepalm)

Daily Caller: Obama’s new French economic adviser has ‘faith in redistribution’ (Double facepalm)

Weekly Standard: Obama Continues to Violate His Own ‘Stimulus’ Law by Not Releasing Quarterly Reports (Infinite facepalm)

How else could the government muck up the economy? By dragging on croudsourced funding regulations! (In violation of the law, to boot.)

Zero Hedge: Germans contemplate impact of US oil boom.  Glimmer of hope.

Lowry via Ace: Limbaugh was right about Obama.  No shit.

WashTimes: West Point center cites dangers of ‘far right’ in U.S.  — Stay tuned for my pontifications about the insurrectionist doctrine.

Get your ass to Mars.  One way.

Chimps like pr0n too!

Oprah likes foreskin. On her face.

00:00.01

Posted: November 17, 2012 by Edward von Bear in Baconblogging, Fucking Markets

Of all of the moments I have had as a parent, few have been more satisfying than watching my daughter fall whilst riding her bicycle. While that may sound harsh, I do not revel in seeing her in pain or disappointed; no, my happiness came when, after a moment of sniffling and checking to make sure that the scrape on her leg or elbow was not serious, she picked herself and her bicycle up, climbed back on, and proceeded to ride some more, never giving up, and proceeding down the path. I mention this because for all of my worries about her future, I am a bit more sanguine than I should be, since if she can pick herself up after a mishap at a mere 7 years old, she certainly has the innerworkings to survive (and thrive) in any environment she may face as she grows older.

The same should apply to us in the wake of the recent election. Yes, we lost and they won. That, sadly, is beyond dispute. But what next? How and what do we do to start the clock over? How do we reset and begin anew? What do we do with the first second of the new era, in the hopes of doing what needs to be done to push back statism? Will you give up? Will you just say, “fuck it”? Or, will you be like a 7 year old on her bike and get back up and continue the fight, albeit under a new set of rules?

Honestly, I have no fucking clue what to do next. I have no fucking clue how to handle the first second of the first minute of the new era we are in. But I can guaranfuckingtee you this, I’ll get back on that bicycle and plow ahead on my own if I fucking have to, learning along the way what needs to be done next and how to apply it. I will do this steeled by words I came across this week while looking for something else, though I loved them. These were the words of Pope John XXIII as Vatican II rolled along in an effort to inspire the bishops and priests in attendance:

Consult not your fears
but your hopes and your dreams.
Think not about your frustrations,
but about your unfulfilled potential.
Concern yourself not
with what you tried and failed in,
but with what it is still possible
for you to do

Yes, what is still possible. How can I look the child who pulls herself up off the ground in the eye and quit? How can I let defeatism and frustration get in the way? How can I stifle her hopes and dreams by not fighting for them? And how can you do the same for those you care for? How can you look in the mirror and admit defeat and refuse to look to what is still possible, albeit in trying circumstances? That is how I have picked myself up off the floor after the defeat a few weeks ago. And I hope you do the same.

To everyone out there, I have no idea where this road will take all of us, but I promise you this: I will not leave you stranded if you pick yourself up, get back on that bicycle, and restart your clocks with me. I also promise this to be one hell of a ride.

And as for the lefties spiking the football, let me add something for you:

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Good job unions.  There go 18,000 jobs.  And there go Zingers, and Wonder Bread.

Oh this’ll end well

Posted: September 17, 2012 by doubleplusundead in Democratic morality, Fucking Markets, Liberal Fascism

So one of the clauses in Obamacare is that soon 30 hours a week will be considered full time employment.  Here’s what’s going to happen with that, all the people who work on a part time basis on paper (i.e., they work 30+ hours a week, but are not considered full time for various reasons) are going to get fucked hard by this.  This is a very common thing in retail and restaurants and to a degree in trades and construction, it’s not that unusual in certain offices either, particularly on the lower end of the wage scale.  Those people are now going to get bumped back to 20-25 hours, or paid under the table if it’s an independent operation, major corporations aren’t going to pay under the table.  These workers will have to find an additional job to supplement their income, and they may already have two+ jobs already.  Of course everyone else is going to be doing the same, and as it is a lot of these base level jobs are being held by older people who are holding off leaving the workforce, and younger people with degrees who are stuck in lower jobs due to the bad economy.

The other thing will be the limitations on those employees, many of them are under conflict of interest clauses, as an example (I don’t know what any of these companies’ clauses are, this is a hypothetical), if you work at Toys’R’Us and primarily work in electronics and video game consoles, you might not be able to work at Gamestop or Best Buy due to conflict of interest clauses in your contract.   So then you have to hope that Petco, Bubba’s Lawn Care, McDonald’s or Family Dollar are hiring, and you’re going to have heavy competition for even those.  This is going to be devastating to anyone who is just starting out in the workforce, or someone of limited means trying to make a living or career, Obamacare is literally making it to where they don’t stand a prayer of success.  But hey, there’s always welfare to fall back on, right?

Socialism is fueled by hopelessness, human misery is more valuable than gold to them.

Enough of The Bernanke

Posted: September 15, 2012 by socklessjoe in Fucking Markets, News, Obama's Fault

I’ve had just about enough of Ben Bernanke.

I’m not a reflexive Fed hater. As I’ve stated on this blog before, I’m a monatarist, and believe that a certain amount of money printing can sometimes be a good thing. But I called “uncle” on extraordinary money printing back in April 2011. Since then we have not seen absurd inflation, but we’ve seen it. From a money supply perspective, I don’t really see the need for massive new QE. The M3 money supply growth rate has been mildly positive and stable since some time in 2011.

But I would not be posting if QE3 was just more QE2. What bugs me about QE3 is not so much that they’re doing it, but what they’re doing. I’m somewhat bothered by the magnitude of QE3, and very much bothered by the emphasis on purchasing mortgage securities.

One lonely dissenting Fed voice, Richmond Federal Reserve President Lacker:

Finally, I strongly opposed purchasing additional agency mortgage-backed securities. These purchases are intended to reduce borrowing rates for conforming home mortgages. Such purchases, as compared to purchases of an equivalent amount of U.S. Treasury securities, distort investment allocations and raise interest rates for other borrowers. Channeling the flow of credit to particular economic sectors is an inappropriate role for the Federal Reserve. As stated in the Joint Statement of the Department of Treasury and the Federal Reserve on March 23, 2009, “Government decisions to influence the allocation of credit are the province of the fiscal authorities.”

And that’s what bugs me about QE3. When everything was going to hell in a handbasket, if you bought into the concept of TARP, it made sense to try to stop the bleeding in housing. More foreclosures meant more bank failures which would mean monumental contractions in the money supply having a run-away effect that would inflict untold collateral damage on the economy. (I know a lot of people don’t buy this theory, but bear with me.)

But unless The Bernanke sees future spiraling deflation in housing, there’s really no justification for the continued emphasis on housing. The housing market crashed because people put too much (borrowed) money into real estate. With things being relatively stable now, why on earth would it be a good idea to further inflate housing prices and encourage individuals to take on more household debt? This is beyond absurdity. If they are going with the “wealth effect” theory to goose-up consumer spending, they are very explicitly re-inflating the original bubble, and even if “sucessful” their efforts will have profound unintended consequences.

Between inflated housing, fuel, and food, discretionary consumer spending will shrivel, not rise. Inflated housing prices means stifled household creation, meaning more basement-dwelling 20 and 30 somethings. Lower savings rates with corresponding minimal capital formation means fewer small business start-ups. Increased disparities between rich and poor.

Charts and a little more commentary below the fold…

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Once again confirming

Posted: August 16, 2012 by doubleplusundead in Fucking Markets, Fun with Elections, Government FAIL

The Boomers can’t die soon enough.  Maybe a bit of hyperbole there.  Maybe.

Paul Ryan may not want to throw Boomers off a cliff…I’m quickly getting to quite alright with the idea, and yes, I’m in the upper end of that 46% KP is talking about, I straddle the line between X and Y agewise.  And yes, most of the 18-29 range is full of contemptable liberal derptards, but Boomers?

You know it’s fucking true, mostly your kids, and you taught ‘em, or your local leftist educator did.

The good news, if KP and Zogby are to be believed, is that demographic is quickly learning to be as repulsed by government as I am.  Good.  As always, I’m ahead of the curve.  Because I rule, bitches.  You are of course reading the post of a guy who faintly remembers being bitched at by a teacher in third grade for sneering and making faces being forced to watch the Clinton inauguration.  See, I was an evil archconservative even as a little kid, yes, completely heartless too.

It got tiresome having this fucking song play whenever I walked into rooms or buildings as a kid, hide and seek fucking sucked…by the way, Charlie Daniels* is full of shit, I’ve never even been to Georgia.

I already know I won’t see a fucking dime of the Social Security that gets taken out of my check, I won’t see a dime of Medicare, and of course I can’t opt out of throwing fistfuls of money into the sinking ships.  Ditto welfare, which needs to be gone at like Leatherface with a fucking chainsaw.  Boomers on the whole, with a noted core of exceptions (probably a good % of Boomers that read here and the HQ, though I’ve seen enough Boomer derptardedness at the HQ to know that number isn’t 100%), want to punt the football or increase taxes.  All well and good except that the Boomers and Governments are like two Michael Moore sized parasites shouting MOAR! at an economy that is quickly beginning to look like an extra from Schindler’s List.  No moar blood guys, the host is tapped out.

So yes, in short, I’m happy to see Paul Ryan make his arrival.

*Not actually full of shit, Charlie Daniels is fucking awesome!  One of the few acts in country that don’t cause my Yankee snob ears to bleed.

I don’t know that we’ll ever know…

This whole having-a-job thing has seriously cut into my seemingly pointless blogging habit.  Anywho…

Oh joy, The Black Death is back.  Bring out yer dead.

So we’re back to the “racism” thing again with criticism of Obama. I am simultaneously exasperated and amused.  The left is like a dog with a bone with this whole racism thing.

Cancel my subscription to the Jeb Bush Super-fan newsletter.  I actually don’t care that he rebuffed the Norquist pledge, but don’t invoke Reagan’s name to slam conservatives.  Not cool.  Bad Jeb!

Apparently the Obamacare IPAB is worse than I thought from a constitutionality perspective.

I hate to disagree with Jimmy P’s call to break up the banks, but I don’t think that ultimately solves the problem.  I’d be much more inclined to address the problem from a capitalization/leverage standpoint.

Permabull Larry Kudlow wonders whether we’re in (another) global recession. Oh boy. (By the way, corporations aren’t hoarding as much cash as you think.)

I should have just gone into quantum physics.

Don’t forget, two-hour “Falling Skies” on Sunday.

LightSquared declares bankruptcy

Posted: May 15, 2012 by doubleplusundead in Fucking Markets

So…wonder what happens now?  Obama’s gotta love this, every fucking company he puts his hands on turns to shit and folds.