Presented Without Comment

Thu, Dec 1, 2011 - 10:55pm

For laughs and maybe even for some semi-serious discussion, the following is presented for your consideration.

Caution: If you are easily offended, you might want to skip this entirely.

Video unavailable

About the Author

turd [at] tfmetalsreport [dot] com ()


Dec 2, 2011 - 12:48am

@ Cerote - - - re: Adam (what a dick i am ) Corolla - - -

Don't shoot the messenger. Turd is bored with the markets as we all are - - - he's just throwing the scavengers a nice hunk of meat to fight over. Quite a brilliant ploy i think. Long live the Turd!

Dec 2, 2011 - 12:51am

MFG used accounting trickery sanctioned by FASB

MF Global used accounting trickery to keep billions of liabilities off of its books. It routinely employed this strategy near the end of a quarter to hide its exposure. This type of accounting treatment is sanctioned by the Financial Accounting Standards Board (FASB) who write the accounting rules. They had banned it, but bowing to lobbyist and Congressional pressures, backed off and now allow it. Nice job FASB.

No doubt in my mind that they relied on consultants from the Big Four to design their strategy to keep all of this exposure off of their books.

So we now have the lobbyists and the best Congress money can buy influencing how accounting rules are written for complex instruments, that obfuscate the true financial health of an enterprise.

Dec 2, 2011 - 12:54am

@ Turd : Carolla Rant

If you think that is not an insult to your readers, time to pull your head out of your poop chute.

Quite a few of us recognize that it is the banksters, not the workers or protesters who caused the crisis.

Adam C. is below the level of Limbaugh, if that is possible. Just another mouthpiece for the elite who want to keep the people divided.

Dec 2, 2011 - 12:55am

Taking ownership of Yourself.

Individual Liberty, is the ultimate state of freedom, it comes with a price however. That price, is to take responsibility for Your actions. Your actions, controlled by You, should never encroach on anyone else's Liberty.

The question everyone has to answer in life is, am I satisfied. If the answer is yes, then don't ever blame Another or covet Another's achievements. If You answer no, I am not satisfied then, it is incumbent on You, and You alone to do something to better Yourself.

This removal of individual liberty, for the greater good of the many, has changed people's view of the world, from what can I do to make things better, to what, are You going to do to make things better. This has led to a sense that the world owes everyone something, and when they don't receive the perceived benefit, bitterness is the result.

Children think in this way, until they grow up and find out this is not the way things really are.

Some people never grow up.

Bay of Pigs
Dec 2, 2011 - 12:56am


Those who buy into Carollas logic are lost in space. This video provides little benefit in understanding who's to blame for this crisis.

Hint: It isn't the guy eating dog food. Try people like Countrywide's Angelo Mazillo who walked away with 700M of stolen loot and saw no jail time.

So the 1% are carrying the ball for us? Jamie "Legs" Dimon pays his "fair share"of taxes while he and his company JPM steal billions upon billions in broad daylight?

LMAO. No doubt...

Dec 2, 2011 - 1:06am

@Bay of Pigs-Doors.

.whoa it is late I guess? any *Peace Frog w/Lyrics*?

Dec 2, 2011 - 1:06am

On the mark

I'd say he's pretty much right on the mark with what he said.

Success takes a lot of dedication and hard work and as someone who has been self-employed and created two enterprises on his own in the past 22 years I can relate.

Some people just have more talent and skills than others, that's life and the way it is.

That shouldn't stop anyone from being ambitious and trying to be the best person they can be and to follow their dreams as you don't have to be the smartest, richest or most fearless person on the planet.

The key is to take the skills and/or talents that you have and find a way to make them work for you and make a living at it. If someone else earns more money doing the same thing that's ok.

Not everyone is a winner but don't let that stop you.

Dec 2, 2011 - 1:07am

In my opinion Carolla's conflating two topics

The kids who were rasied as he describes (I've heard stories about parents going to a kids place of work after they were fired and trying to get them rehired...where do these people come from?) and the problem with the the oligarchy.

It's obviously not the 1% it's much less, which is worse. 99% of the 1% is going to get screwed too.

Dec 2, 2011 - 1:22am

Foggyroad - - - - your words are music to my ears - - -

Individual Liberty, is the ultimate state of freedom, it comes with a price however. That price, is to take responsibility for Your actions. Your actions, controlled by You, should never encroach on anyone else's Liberty. - - - Foggyroad

Dec 2, 2011 - 1:31am

Carolla, a voice of clarity

He understands those Onward With Socialism types better then they understand themselves.

It's the grasshoppers waking up & realizing they're out of chips 'n dip....and oh, look over there....

the ants have plenty.

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Recent Comments

by Ozymandias, 21 min 7 sec ago
by Blackwatersailor, 26 min 56 sec ago

Forum Discussion

by sierra skier, 6 hours 33 min ago
by NW VIEW, 6 hours 45 min ago
by sierra skier, 8 hours 26 min ago
by Trail Trekker, 9 hours 50 min ago