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- Island Changes
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- Name that island
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- Mark J is getting in touch with some or our old Fr...
- From Roxy... South Seas in the 50s
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Mar
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The Dean's Circle Gang
- Allan Amor
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- Valiza
- alice
- amy
- booniedawg
- fastjimmy61
- illustrationISM....
- jinny
- juliet
- mat
- rac
- tophersguam
- ~dana
31 comments:
I am not wearing green. I am not Catholic, Irish, and I don't mind snakes.
For some of you, green beer is available today.
This may be a St Paddies day to remember. I don't know if any of you have seen that Bear Stearns, the nations 5th largest investment mortgage firm was bought out today by JP Morgan for roughly $230 million, or about $2 a share.
Now lets put that in some perspective, that $230 mil is less than A Rods contract with the Yankees. Three months ago Bear Stearns stock was at $160 a share. World markets are down 5% this morning and had it not been for Fed intervention Wall Street would likely be in free fall as the dollar has again fallen to an all time low against the euro & a 12 year low vs the yen.
I have a client whose brother is a senior exec with Goldman Sachs. Along about last Christmas he relayed to me something his brother had told him that along about the second quarter of '08 the shit was really going to hit the fan. I remember at the time taking it with a grain of salt but today I begin to wonder.
There are business acquaintances that I have had for YEARS that to say they are concerned on a number of levels would be putting it mildly.
To all of my friends from back in the day please protect yourself by maintaining liquidity and reducing short term debt wherever possible.
And in the interim drink some green beer.
Peace.
Gee, since you put it that way Doug... F the green beer, I'm going straight for the heroin.
America was conned - who will pay?
Business, of course, needs consumers to carry on spending in order to make money, so a way had to be found to persuade households to do their patriotic duty. The method chosen was simple. Whip up a colossal housing bubble, convince consumers that it makes sense to borrow money against the rising value of their homes to supplement their meagre real wage growth and watch the profits roll in.
As they did - for a while. Now it's payback time and the mood could get very ugly. Americans, to put it bluntly, have been conned. They have been duped by a bunch of serpent-tongued hucksters who packed up the wagon and made it across the county line before a lynch mob could be formed.
I must have been the only person at work wearing green today? Even all my redhead coworkers weren't wearing green....hmmmmm.
Doug, how does a stock drop 85% of its value overnight! Lesson to be learned: "It's good to diversify you money". On that note, i'll have a green beer, a lite beer, an ale, and a double shot of Irish Whisky (OK, so I'm a light wieght)and pray that I don't so feel green tomorrow.
Try to have a good day despite terrible news:)
drl, Grandma Ghormely is Irish, so I quess we are part Irish, 1/4 atleast?
ok Doug, my Laddie...I drink a green beer, (if I had one) just for you me lad.
Wear green? what day was it? I didn't hear anything about St Pattie's here..
PS Doug, you have to have SOME Irish in you...look at that hair and freckles. no way that's all German.
Ric, I have never heard Grandma Ghormley's accent. Oh well, still not enough Irish to wear green. Our work color is red. That would look too much like Christmas.
Green is good. One thing I still really Love about Guam is that there's green everywhere,whether it's tangan tangan in your way or huge ifit trees down at the ranch,Umbe:)(sp)It is good to see a lot of green in our plants and trees.I still ask for permisson from the Tao Tao Mona.
Well I was going to stop by just to post for everyone not to worry and be cool. Everything will work itself out, always has and always will one way or another. I then took a moment or two to read the dissertation linked by Robert and it has for the most part reconfirmed my opinion from yesterday that we're all pretty much fucked.
I agree with Doug it is surreal to see Bush tap dancing and making comments about how strong the US economy is. The fact is our money has gone into a war and the proceeds have gone into fat foreign bank accounts and as a result, the trillions of dollars have not filtered back into our economy.
Oh thanks Doug...that made me feel
whole lot better now.
by the way, Doug...Robert is super smart, but so are a lot of us. we just can't write our smarts as eloquently as he does.
Ps..I didn't even use the spell check on that one. whoo hoo
Pat,
I know you're smart. Always knew that. That's one of the things I love about 'ya!
Robert is smart and knows how to use words. A rare and admirable trait that we all should admire.
One thing I will say about the old Dean's Circle gang is that none of us was anybody's fool. World travel, immersion in different cultures and just plain old luck created one of the wisest groups of happy go lucky ne'er do wells that side of the international date line. Oh and by the way everyone please don't fret over US market conditions. It WILL work itself out one way or another. Always has, always will. That's the beauty of capitalism.
Oh, how I have you all so fooled. Trust me, if I was so smart I wouldn't be working where I do... instead I would have Doug's job.
I am a housewife, RAC what exactly do you do? I remember you mentioned something about IT but not sure.
That's a good one Robert. If you were working where I am we could both be poster boys for dubious career choices.
Juliet, remember that the trilions of dollars we are spending on the war does possitivley affect our economy. First, we build the equipment used to fight the war here in America, we pay our solders, sailors, airmen and mariens. OUr economy is not disruppted by twin towers falling to the ground with 3000 people in them.As long as we fight it on foriegn soil, it is not our property and citizens (with the exception of our militery men and women) at stake.
Doug, you are correct. anyone who studies history has seen that in the worst of economic times wether it be the crash of '29 or the "Dot Com" crash under President Clinton or the Housing crash under Bush, the economy has grown at a consistent 15% annual rate over the life of the NYSA.
Keep the faith in the War on Terror and the US Economy. We will overcome. That is some of what makes this Country the greates of all time.
I don't agree with you drl. Tax payers foot the bills that enable defence contractors to operate in other countries and move their operations outside the US. The overall profits of those companies are at a much greater expense to the US. Those few jobs that Haliburton has in the US do not equal or generate enough expendable income to balance the billions that the US Gove payed out for services. Many of the reservist who were called to active duty took considerable income and finacial loss.
http://www.brookings.edu/articles/2005/0301usdepartmentofdefense_singer.aspx
Although the world's most dominant military has become increasingly reliant on PMFs (the Pentagon has entered into more than 3,000 such contracts over the last decade), the industry and its clientele are not just American. Private military companies have operated in more than 50 nations, on every continent but Antarctica. For example, European militaries, which lack the means to transport and support their forces overseas, are now greatly dependent on PMFs for such functions. To get to Afghanistan, European troops relied on a Ukrainian firm that, under a contract worth more than $100 million, ferried them there in former Soviet jets. And the British military, following in the Pentagon's footsteps, has begun to contract out its logistics to Halliburton.
Nowhere has the role of PMFs been more integral—and more controversial—than in Iraq. Not only is Iraq now the site of the single largest U.S. military commitment in more than a decade; it is also the marketplace for the largest deployment of PMFs and personnel ever. More than 60 firms currently employ more than 20,000 private personnel there to carry out military functions (these figures do not include the thousands more that provide nonmilitary reconstruction and oil services)—roughly the same number as are provided by all of the United States' coalition partners combined. President George W. Bush's "coalition of the willing" might thus be more aptly described as the "coalition of the billing."
Juliet, one of the nice things about being Americans, is that we can agree to disagree.
The reservest who were deploid to Iraq and Afganistan were form an all vonenteer service. If it were not for my back, I would have went over with my old reserve company, the 116th. Every one whe served as a reservist knew what pay scale they would be sent out at active duty. They do not serve for the windfalls of monitary gain. But rather to help keep our country free. While in active service, no military person can have there wages garnished, be taken to small claims court, or be turned over to any claims.
The companies like Haliburtin (which I find funny you mention a company who's largest earnings are from within the continental US), are employing Americans. It is still better that the 50 countries are over there than having to repild our cities here in the continental US.
Don't drink the Kool-Aid: The Shock Doctrine
RAC, no I will not make out with you.
DRL, I agree with you that Halliburton makes most of its money within the continental United States. It's called the US Department of the Treasury. ;-)
Alan Greenspan on Milton Friedman: "There are very few people over the generations who have ideas that are sufficiently original to materially alter the direction of civilization. Milton is one of those very few people."
Here in Arizona, my tax dollars go twords illegals that get onto the welfare. They may keep the cuccumber prices down but many hospitals have closed because they have to treat everyone including those that do not pay. Luckily my boss pays for my health care costs, but if not I would have to pay when others would not.
Can't we all just talk about food?
Dave, Let's talk food.I'll do what you said as long as they're willing:) Also,I packed the local fiesta food away and am going to eat a "lean Cuisine"The hotties will be out,women amd men.Oh boy!!!
Dave, Let's talk food.I'll do what you said as long as they're willing:) Also,I packed the local fiesta food away and am going to eat a "lean Cuisine"The hotties will be out,women amd men.Oh boy!!!
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