Quote of the Day
So the lesson I learned today is that in my early and late 20s, I should not experience all the city has to offer (nightlife, dinner, culture ie things that cost money) in order to buy an overpriced, depreciating asset. Then, ideally, I should procreate and bring my spawn to the bars/restaurants with me so…
So the lesson I learned today is that in my early and late 20s, I should not experience all the city has to offer (nightlife, dinner, culture ie things that cost money) in order to buy an overpriced, depreciating asset. Then, ideally, I should procreate and bring my spawn to the bars/restaurants with me so I’ll be the old dude with a kid. Then what exactly is the point of living in NYC if you don’t experience it? I would have a much easier time sitting at home on Saturday nights if I lived in Smithtown, Long Island – rents are a whole heck of a lot cheaper too..
— from Not-So-Bitter Renters Embrace Brooklyn
http://stats.bls.gov/news.release/ppi.nr0.htm
The PPI for finished goods increased 1.4% in May, a 17% annualized rate. Finished goods are up over 7% this year.
is it wrong to say that i love “the what”? at times laugh at it, and others agree with it, but you all know you dont ignore its posts.
a. can b.stoner organize a happyhour, in p.slope of course, so we can meet eachother and the stars of this site?
b. i propose a “the what” thread of the week where it gets to be the starter of the topic/thread.
goldie
8:35
Not like it was. No one wants the help of New York based bankers – they have swindled people, institutions, and more importantly governments, out of huge amounts of money. New York paper is now pretty much worthless.
Now, will the local neighborhood lawyers make some money filing personal bankruptcies? Sure. Divorce attorneys too.
Will the mergers and acquisitions partner at the white shoe firm pull in $1MM? I’d say, probably not.
Will investment bankers get multi-million dollar bonuses for selling liar’s paper? Definitely not.
Anyway, check out this article:
http://www.independent.co.uk/news/business/comment/stephen-king/stephen-king-we-must-be-cruel-to-be-kind-to-save-the-world-from-a-longerterm-headache-847923.html
my instinct is that there is political pressure not to raise interest rates until after elections.
On another note, as incendiary as the what tends to be, he’s probably right about what would happen if something happens to obama.
wall street education 101:
Bear: a broker/banker/speculator/investor who has an overall negative view on the economy.
shortselling: usually done by bears who count on making money as the market turns downward. they sell shares today at a good price, knowing or betting that the price will be lower tomorrow (when they actually have to deliver the shares). So if they sell 10 shares at a hundred dollars a share today they pick up 1000 dollars, but knowing they will get to buy those shares to be delivered tomorrow at 50 dollars a share, they only have to spend 500 dollars. thus walking off with a 500 dollar profit betting on a stock falling. Now multiply that by a billion with these hedge fund investors and large scale fund managers and you see how people are making money with a good or a bad economy.
So don’t be so sure about these folks who tell you we are doomed and there will be only negativity in the coming economy. if they actually believed what they said they would be buying into bearish hedge funds and making a killing instead of whining from mommy’s basement.
Welcome to Brownstoner, 8:10. If you ever need the background on the What, just put it out there and we can all chime in.
The Fed wants rates to rise to curb inflation. They are not going to shock the system with a huge rate increase.
Polemicist: Don’t you think there will be lawyers and bankers who will make money in this down market? Anyone who deals with bankruptcies should see an increase in the business.
As for the rest, they will find jobs in other companies. I don’t think you are going to find lawyers and bankers begging on the street any time some soon.
I’m new to this site, so forgive me, but this doomsday clown posting as if he knows something that the rest of us don’t, strikes me as a typical chickenlittle poseur, without the balls to stake a claim on any real estate whatsoever. Instead he opts to make grand proclamations punctuated by ass noises.
Thank you to the other poster who puts out the actual data without the emphasis on sphincter dialogue.
Wow Polemicist! Did you ass get zapped on the road to Damascus?
The What
Someday this war is gonna end…