turn it up
"Off Main Street: The SpeakEasy/BackRoom"
Nice to "see" you, welcome back. Just asking about you the other day.
Is7 and all, closing in on 15,000. Should be a reason for a toast at Friday's cocktail hour. Not that we need a reason.
Interesting blogger and a good writer.
regarding a Crosby Stills and Nash concert
and this one about the inability of those less fortunate to be able to get a needed loan.
Contrary to popular myth, frogs will jump out of a pot of slowly heated water before cooking. I suspect a certain number of them may ignore the signs and discomfort and stay a few minutes too long and, like many indoctrinated by government schools and MSM propaganda, or just plain stupid ones in society, some will panic at the moment before they die (or lose all of their paper savings). This morning from LeMet:
Does it matter if everything is manipulated...?
To all; if the market's participants are finally, FINALLY getting around to figuring out that markets far and wide are manipulated...does it really matter? Most people come home from work exhausted, watch the news, eat, go to bed and get up to do it all over again so what difference does it make if LIBOR is manipulated? "They prop the market up"? Yipee, if not for that, my 401K would really be wiped out, can you guys "prop" the market some more please?! The Fed buys all unbought Treasury securities to lower interest rates? Great, that will make it easier to service a mortgage or for someone else to buy my house, can y'all make rates even lower...please?!
For the most part, people couldn't care less that markets are manipulated. They are more interested in more pressing problems like keeping their job, paying the mortgage and putting food on the table...period...until they do care. This is how "paradigm shifts" happen. You have heard the one about putting a frog in a pan of water and turning the burner on, right? Have you ever tried it? The story goes, the frog will just sit there enjoying the "warmth" until it's too late and gets cooked. This is a myth, I knew a Cajun guy in South Texas who tried this and guess what? The frog jumped out! This, I believe is what will eventually happen, the "heat" (reality) will get turned up to a point where it cannot be ignored any longer. The "injustice" of fraud and manipulation will be too public and too painful to ignore.
My point? It has to get "bad enough" for enough people to get the whole herd restless enough to pay attention. The $700 TARP bailout back in 2008 saw many people screaming bloody murder (including myself), but, there was still enough of a majority thinking "I sure hope this thing works". It didn't, nothing they've done has, and the economy is now rolling over again into another down leg. Markets the same, momentum has been lost and downwards is the path of least resistance. Further economic and financial pain that was not taken over the course of the last 40 years is coming and will silence Keynsianism for ever. "Manipulation" works until it doesn't. When it "works", all it does is hide or mask the reality just like an aspirin relieves the pain (temporarily) from a brain tumor.
To answer the question that my title asks, no, it doesn't matter until it does. Once it does matter, the mal investment that occurred from bad decisions based on the false information that manipulated markets sent, will be wiped out. 40 to 50 years of bad decisions will ultimately be wiped out and wiped clean in less than a quarter's time. Please don't get me wrong, manipulation absolutely does matter in a real world where people are held accountable. Today (for at least the last 5 years+++), almost no one has been convicted of, much less arrested for fraud. John Corzine being a prime example. Manipulation of markets does matter because the markets send signals that investors make decisions with. It matters greatly,...but...no one really cares and no one will really care until they get collectively wiped out by a system that was rigged.
ONLY AFTER the masses get wiped out will the majority care. As it stands now, fraud after fraud occurs, brokers close and swallow their clients money, markets are blatantly turned on their heads against all logic and...no one cares. Well, not no one but very few. What is happening though is that more and more people are putting it together, more and more are starting to vote with their feet (money) and the "few" are becoming a few more. The sad thing is that the majority can't, don't and won't see it coming and those who do for the most part have the "crazy aunt syndrome" and don't want to talk about it. Facts are facts and the fact that people are finally being exposed, even through the main stream media, to the reality that markets, all markets are manipulated is important. This is a game changer!
How much information needs to come out before we have an outright panic? How many more people will need to connect the dots before we have a panic? I truly don't know. But just as a frog will always jump from a room temperature pot as it's heated, eventually enough investors will "bail", eventually enough people will "care" but unfortunately I'm afraid that we may need a complete wipe out to make them.
Regards, Bill H.
...I have been lost in the wind.
Notice the similar chart pattern today that we saw yesterday: hard, repeated knocking at 27.60. Today we see repeated knocking at 26.70. Like an iron door has been closed. We know what happened after yesterdays door was slammed shut. Nobody but the shadow knows if this will be a repeat. It is sickening.
i think this deserves a round. ron pauls to you aLL, my friends
and could it be that sproTT just put the boTTom in??? b4 leaving 2 surf this am i saw the start of the drop and thought it could get to 1550/26 easy w/ that jobs # then i get back sEE the bounce and read this
this is a silver buLLet. lets sEE what kind of paper burns, of course the amount of paper or digets is endleSS, example being the GC scrEEn shot on main at 1562 or so, something like 900 seLL orders in, that was impreSSive. kEEp close eye on the quick retrace and another drop. i stiLL think we get <26/1550 buy oPPs.
336 waves kEEps this aLL from exploding in my mind. do what you nEEd to do. foLLow the sun. rain may come, we have our SPF on. peace
Tried to post earlier but access was denied for whatever reason. Figured I'd already run my chops too much or pissed too many. :)
Anyhoo, congrats IS7 and to all Speakeasy comrades to have filled so many pages with such good stuff... all without one single barroom brawl.
I must plant this flag for all SpeakEasyers... everywhere... so that they too can always come and get a cold, wet drink or baked smoke and forget about just how crazy its getting out there... at least... for awhile...
Did a mermaid take you swimming with whales and you come back with a sniffing dog?
My God she is irritating! And it takes a lot to get under my skin.
And NO! I'm not talking about the girl in the video.
I wanted to thank you for turning me on to the Slog blog.
Larry- yes, isn't it interesting that we all get along in here with hardly a cross word ever. Must be that this group of SpeakEasyers is avoided by those with conflict on their minds. Or, it might be the ganja that SWS has flowing through the ventilation system that is keeping us right and sitting tight.
From a CNBC article on PFG Best CEO – “Authorities will not discuss Wasendorf Sr.'s condition, but a local newspaper, quoting unidentified sources, reported he is alert and responsive at an Iowa hospital, and possibly able to shed some light on the bizarre events leading up to the firm's collapse.”
Now I have to wonder, if he does recover and is able to explain everything, might a certain big bank be implicated in the theft of PFGB client’s money as they were MFGlobal’s loot? Might said Big Bankster send someone to convince Wasendorf to make certain he keeps his trap shut forever? Wait… a visual comes to mind here…
Well, I've seen a few of these same peace loving and generous Speaksters resort to a street fight before when accosted by the boorish or trollish ones. I'm guilty of that myself... but the fuse is long.
No reason to fight in the Speak. It'll be a long time before this particular group of regulars runs out of ideas... which is when fighting usually ensues. No, this place is more like the Algonquin Roundtable without the stuffiness and self-adulation.
So tempted to put a fitting Stones tune in here. I'll resist.
edit: could. not. resist.
edit two: must'a been that sweet fragrance wafting through the AC vents.