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November 19, 2008
Fed's Kohn Says Crisis `More Severe' Than Episodes Since 1990s
http://www.bloomberg.com/apps/news?pid=20601087&sid=ayYY07SHkfzg&refer=home
``The economic disruption here and abroad are likely to be considerably more severe than in past episodes,'' Kohn said today in prepared remarks for the Cato Institute's Annual Monetary Conference in Washington. ``Mopping up after this asset-price bubble has turned out to be much harder because of its greater magnitude.''
Here you have a Federal Reserve Vice Chairman making quotes like this and still the Asshats don't get it.
Comments
DIBS, are white truffles still in season?
Posted by: Biff Champion at November 19, 2008 9:44 AM
Lots of hot air blowing around and it would seem that, according to Giovanna in her post below, that a lot of it goes right through the third floor skylight. This is a big heat loss for a brownstone.
Talk amongst yourselves.
Check out this architectural detail...
http://www.brooklynbridgerealty.com/display.cgi?mode=display_property&id=1881
Posted by: daveinbedstuy at November 19, 2008 9:47 AM
Yes Biff, they are and because of the Mutant Asset Bubble, the price is down significantly.
"An 850-gram white truffle from northern Italy sold for 24,000 euros ($30,900) at the 10th Annual World Alba White Truffle Auction in Tokyo last night. By weight, that's 84 percent less than the $330,000 Macau casino billionaire Stanley Ho paid for a 1.5 kilogram truffle last year.
The auction, held simultaneously in Tokyo and the Italian towns of Grinzane Cavour and Merano, raised a combined 118,000 euros for various charities.
« The financial crisis has definitely had an impact, » Bruno Libralon, president of Italian Culinary Institute for Foreigners, arranger of the three auctions, said in an interview in Tokyo.
The winning bidder, Kazumasa Terada, founder and president of handbag retailer Samantha Thavasa Japan Ltd., said he will have a chef prepare half the truffle for a private dinner and give the other half to the Ritz-Carlton hotel, the auction's Tokyo venue.
White truffles were lately listed at No. 2 by Fortune Small Business in their list of world’s priciest foods. They are intensely aromatic and grated over dishes raw, unlike black truffles, which are generally cooked to bring out the full flavor.
Source bloomberg
Posted by: daveinbedstuy at November 19, 2008 9:51 AM
If any adult want to discuss this post topic let's do so. Please ignore the children in the room. We are facing hard times and people need ideas to live thru this down turn. If you come to any of my post please leave a comment and I will respond in a intelligent way.
Thank you and good luck..
The What
Someday this war is gonna end...
Posted by: Return of The What at November 19, 2008 10:19 AM
Once the Asshats get it ... what are they supposed to do?
Maybe they get it and you don't get that they get it. Or maybe you do get that they get it, but they don't get that you get that they get it.
I'm not sure, What, Dave, Biff is it more complicated that this.
Posted by: Aussie at November 19, 2008 10:22 AM
ROTW uses the same language as the unscrupulous "block-buster" real-estate agents who operated so effectively in NYC during the "white flight" days of the 60's. They peddled fear, and bought homes on the cheap from those who fled. He fails to understand that this is a different era. He may be trying to do the same thing, as there are runmours that he is a real estate agent. Pay no attention to him.
The What
Someday this war is gonna end...
Posted by: Return of The What at November 19, 2008 10:22 AM
Posted by: daveinbedstuy at November 19, 2008 10:25 AM
Creme tangerine and montelimat
A ginger sling with a pineapple heart
A coffee dessert - yes you know it's good news
But you'll have to have them all pulled out
After the Savoy truffle.
Cool cherry cream and a nice apple tart
I feel your taste all the time we're apart
Coconut fudge - really blows down those blues
But you'll have to have them all pulled out
After the Savoy truffle.
You might not feel it now
But when the pain cuts through
You're going to know, and how
The sweat is going to fill your head
When it becomes too much
You're going to shout aloud
- Creme tangerine.
You know that what you eat you are,
But what is sweet now, turns so sour
We all know Obla-Di-Bla-Da
But can you show me, where you are?
Creme tangerine and montelimat
A ginger sling with a pineapple heart
A coffee dessert - yes you know it's good news
But you'll have to have them all pulled out
After the Savoy truffle.
Posted by: SnarkSlope at November 19, 2008 10:52 AM
Hi What, So why do you think Paulson decided not to spend the 350 trillion?
Posted by: cobblehiller at November 19, 2008 11:23 AM
You never give me your money
You only give me your funny paper
and in the middle of negotiations
you break down
I never give you my number
I only give you my situation
and in the middle of investigation
I break down
Out of college, money spent
See no future, pay no rent
All the money's gone, nowhere to go
Any jobber got the sack
Monday morning, turning back
Yellow lorry slow, nowhere to go
But oh, that magic
feeling, nowhere to go
Oh, that magic feeling
Nowhere to go
Nowhere to go
One sweet dream
Pick up the bags and get
in the limousine
Soon we'll be away from here
Step on the gas and wipe that tear away
One sweet dream came true today
Came true today
Came true today (yes it did)
One two three four five six seven,
All good children go to Heaven
Posted by: SnarkSlope at November 19, 2008 11:26 AM
Ok, that one was worth at least 5 points...
Posted by: cobblehiller at November 19, 2008 11:29 AM
Snark, you are a brilliant.
Posted by: bayridgegirl at November 19, 2008 12:02 PM
Snark is brilliant! I love the Savoy Truffle!
Posted by: wasder at November 19, 2008 12:36 PM
I hear Credit Default swaps are once again going up. Is this the start of another big drop..
Posted by: HOBOKENROCKS at November 19, 2008 12:52 PM
I've told myself so many times before
But this time I think I mean it for sure
We have reached a full stop
Nothing's going to save us from the big drop
Reached our natural conclusion
Outlived the illusion
I hate being in these situations
That call for diplomatic relations
If I only knew the answer
Or I thought we had a chance
Or I could stop this
I would stop this thing
From spreading like a cancer
What can I say
I don't want to play anymore
What can I say
I'm heading for the door
I can't stand this emotional violence
Leave in silence
Leave in silence
We've been running round in circles all year
Doing this and that and getting nowhere
This will be the last time
I think I said that last time
If I only had a potion
Some magical lotion
That could stop this
I would set the wheels in motion
Posted by: SnarkSlope at November 19, 2008 1:17 PM
paulson looks like a deer in headlights..and then the 18 wheeler..
Posted by: derwood at November 19, 2008 1:57 PM
roubini just posted a video about his outlook..
http://www.rgemonitor.com/
he has been a good 12-15 ahead of the curve on most of this stuff.
Posted by: derwood at November 19, 2008 2:09 PM
Good bye, Roubini Tuesday...
Posted by: Biff Champion at November 19, 2008 2:14 PM
Alright, Snark...good luck with this one...
"The kingdom is ransacked..."
Posted by: cobblehiller at November 19, 2008 2:14 PM
I concede this round to Biff.
And I'm putting "Free Fallin'" on the jukebox.
Posted by: SnarkSlope at November 19, 2008 2:27 PM
When Nouriel Roubini, the only person to have forecast any of this, is talking about the "worst recession in 50 years," and he's THE top American economist on this particular constellation of issues, bar none, and you guys are making crazy song lyric jokes about this--
Do you think maybe, possibly, it's YOU who appear crazy, and not The What? Frankly, if you don't want to comment on his posts, ignore them. NY Magazine, among others, actually finds The What more interesting than most of the rest of you. Yes, sometimes he's annoying, but his macroeconomic points have actually been far more on target. If this Blog is also about the Brownstone "lifestyles," and not just "architectural details" (as if most of you aren't complete architectural phonies anyways--then why isn't talking about stuff like economics, race, class, etc., part of that "lifestyle?" Or does "lifestyle" mean shallow, faux-cultured materialism? Uggh. Sorry I asked. This IS the new crassness. You are the philistines, not The What, who is at least interesting.
Posted by: folledontjesuis at November 19, 2008 3:33 PM
When Nouriel Roubini, the only person to have forecast any of this, is talking about the "worst recession in 50 years," and he's THE top American economist on this particular constellation of issues, bar none, and you guys are making crazy song lyric jokes about this--
Do you think maybe, possibly, it's YOU who appear crazy, and not The What? Frankly, if you don't want to comment on his posts, ignore them. NY Magazine, among others, actually finds The What more interesting than most of the rest of you. Yes, sometimes he's annoying, but his macroeconomic points have actually been far more on target. If this Blog is also about the Brownstone "lifestyles," and not just "architectural details" (as if most of you aren't complete architectural phonies anyways--then why isn't talking about stuff like economics, race, class, etc., part of that "lifestyle?" Or does "lifestyle" mean shallow, faux-cultured materialism? Uggh. Sorry I asked. This IS the new crassness. You are the philistines, not The What, who is at least interesting.
Posted by: folledontjesuis at November 19, 2008 3:33 PM
When Nouriel Roubini, the only person to have forecast any of this, is talking about the "worst recession in 50 years," and he's THE top American economist on this particular constellation of issues, bar none, and you guys are making crazy song lyric jokes about this--
Do you think maybe, possibly, it's YOU who appear crazy, and not The What? Frankly, if you don't want to comment on his posts, ignore them. NY Magazine, among others, actually finds The What more interesting than most of the rest of you. Yes, sometimes he's annoying, but his macroeconomic points have actually been far more on target. If this Blog is also about the Brownstone "lifestyles," and not just "architectural details" (as if most of you aren't complete architectural phonies anyways--then why isn't talking about stuff like economics, race, class, etc., part of that "lifestyle?" Or does "lifestyle" mean shallow, faux-cultured materialism? Uggh. Sorry I asked. This IS the new crassness. You are the philistines, not The What, who is at least interesting.
Posted by: folledontjesuis at November 19, 2008 3:34 PM
what,
I think you need a spinoff blog. Considering the interest it would generate, I think you merit a tab along with restaurants, forum, etc.
I suggest "Rantings of the what" although it's a little long. In your section you should have editorial conrol.
Posted by: slick at November 19, 2008 3:40 PM
folledontjesuis thank you so much for the commentary. This proves to me that there are adults on this Blog and concerned about the economy. Please do not pay the children any attention because when the bad times hit they will will be reminded about their folly.
"I hear Credit Default swaps are once again going up. Is this the start of another big drop.."
Yes they are Hobo! Here is the website to track this stuff..
http://www.markit.com/information/home.html
I hope your trades are working out well and remember be light on your feet.
Just remember yesterday they was laughing at Nouriel Roubini so I understand the dynamic of the Mutant Asset Bubble.
If anyone wants to have a adult discussion about the Mutant Asset Bubble, please leave your comment and I will try to respond. Be well
The What
Someday this war is gonna end...
Posted by: Return of The What at November 19, 2008 3:50 PM
In at the end of the day with a bunch of puts, I see a big crash coming and buying puts is the way to go. I shorted commercial banks which i am sure many will be doing...
Posted by: HOBOKENROCKS at November 19, 2008 4:05 PM
Slick: I've tried to get What interested in a blog, but he's resists the idea. I could see guest writers - Roubini, Krugman, Nate Silver - all types...there is something there.
Perhaps you will have more luck convincing him.
Posted by: cobblehiller at November 19, 2008 4:08 PM
And really it's the 'children' [I sometimes include myself in those activities] that should be spinning off their own blog/tab/thread or something. What and his posts are valid and in fact interesting and I'd miss them if they went away.
Posted by: cobblehiller at November 19, 2008 4:14 PM
"And really it's the 'children' [I sometimes include myself in those activities] that should be spinning off their own blog/tab/thread or something. What and his posts are valid and in fact interesting and I'd miss them if they went away."
Sorry Cobbler, but we don't have to. We prefer to let The What do the work of setting up the playground and then we play. Just like he enjoys jumping in with his own off-topic rants. That's how it works.
Posted by: Biff Champion at November 19, 2008 4:30 PM
Whatever Biff. What is way less intrusive than you, DIBS, and BRG, if you're honest.
Posted by: cobblehiller at November 19, 2008 4:41 PM
Sorry, I intruded with my..
'Snark, you are a brilliant' comment.
Posted by: bayridgegirl at November 19, 2008 4:46 PM
And The What is also a psychopathic, homophobic, mysogynist who is praying for the country to go bankrupt and all of us to be out in the streets killing ourselves, if you're honest. I think most people would agree that's probably worse than being intrusive. Ever heard of the Stockholm Syndrome, Cobbler?
Posted by: Biff Champion at November 19, 2008 4:46 PM
Oh, and by less intrusive, I assume you mean by him posting 15 times off-topic in all of my End of the World Party Threads without anyone having mentioned him. It's all good. Didn't bother me at all...he's a fun and easy target.
Posted by: Biff Champion at November 19, 2008 4:48 PM
folledontjesuis kudos..very eloquently put. what i dont know is WHAT how or why you bother, this is like discussing quantum physics at my daughter's nursery..pointless.. you have done your work here pack it up and bring it over somewhere where it will benefit folks that give a damn about the gravity of the situation that we are facing.. the strength of the dollar I think may be the MOST disturbing thing about this whole situation, it makes you realize how f**d the WHOLE world is. i dont really want to insult anyone or anyone to insult myself for it becomes very barbaric very quick on a lot of threads. we don't have to prove that anyone is RIGHT we are discussing very serious world shifting events here and it is nice to commiserate/assess what the hell is going on in the world. peace.
Posted by: derwood at November 19, 2008 8:47 PM
> this is like discussing quantum physics at my daughter's nursery.
"If you think you understand quantum mechanics, you don't understand quantum mechanics" - Richard Feynman
Posted by: SnarkSlope at November 20, 2008 12:26 AM
Oh bother Biff, take a deep breath. Your sounding a little close to the edge, dear. Stockholm syndrome? Wow, oy, patently absurd.
Posted by: cobblehiller at November 20, 2008 10:30 AM
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