make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

I don't think anyone's trading algorithm has "rioting in Times Square" as a variable.

Does this mean every time a woman loses a baby there will be a formal investigation?

xenophon10k: The Stealth Hippopotamus: Lords of Finance?

Sounds like an Aaron Sorkin movie.

Not yet. It's a book.



I have a copy in my outbound stack.

(Wrong thread.)

Arkanaut: I don't think anyone's trading algorithm has "rioting in Times Square" as a variable.

Not directly, although they may be based on information that could be impacted by the rioting.

serpent_sky: make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

Doubt it has to do with anything. Heard a report driving to work this morning "on news that Apple sold a record 4 million iPhone 4S in its first weekend - almost double the amount when the iPhone 4 was released -- Apple stock is down $2.06"

I think these people just spin wheels and decide to buy/sell because that news should drive a stock up, not down, shouldn't it?

Nah, Jobs is dead. Apple is no longer the hippest hipster company on the hip parade, but quickly sliding into an oppressive corporate 1%er demanding the serfs give up their hard earned dollars to the Lords of Finance.

ArcadianRefugee: Does this mean every time a woman loses a baby there will be a formal investigation?

i think you want to be over here.... http://www.fark.com/comments/6651585/Mississippi-is-about-to-vote-on-i ts-personhood-initiative-which-will-enshrine-in-its-constitution-idea- that-life-begins-at-fertilization (new window)

well crap, that didnt work

Something like 70%(by share volume) of NYSE trades are done by computers. Run by algorithms the trading houses keep secret. I'd say lots of times, especially for days where not much of significant happens, reporters are just guessing why the DOW went up or down.

ArcadianRefugee: Does this mean every time a woman loses a baby there will be a formal investigation?


Eh?

Weaver95: make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

probably has more to do with that european deadline to deal with their fiscal crisis than the protests around the world.

Personally, I like it when the shills show up and try to say that the protests have no focus. they've all been trying so hard to turf these protests and despite their best efforts, they've failed. failed miserably actually. And I think its starting to make them all a little crazy.

FOX News is still trying day-in and day-out. They are scared to death of the movement and it shows.

Cythraul: Or a really boring Irish dance show on Broadway.

They do all of their futures trading without using their arms.

serpent_sky: make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

Doubt it has to do with anything. Heard a report driving to work this morning "on news that Apple sold a record 4 million iPhone 4S in its first weekend - almost double the amount when the iPhone 4 was released -- Apple stock is down $2.06"

I think these people just spin wheels and decide to buy/sell because that news should drive a stock up, not down, shouldn't it?

The petty fortunes of companies have very little to do with their stock price compared to the effects of the EU shambling toward breakup and the inevitable deflationary effect of Spain, Portugal and Greece defaulting on their debt and making trillions of dollars go 'poof'.

Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid. When their bubble busts, the real shiat blizzard begins.

It's only a question of when.

AcneVulgaris: Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid.

Citation needed, not because I don't believe you but I am interested.

More like what the Wall Street weasels have done TO the US economy and what they've done AT the People.

Wall Street may continue to shove their sh*t down our throats, but never again will they be able to insist that it's chocolate ice cream.

beer4breakfast: Something like 70%(by share volume) of NYSE trades are done by computers. Run by algorithms the trading houses keep secret. I'd say lots of times, especially for days where not much of significant happens, reporters are just guessing why the DOW went up or down.

I don't think they even bother guessing anymore. They just scan the news of the day for a plausible cause-and-effect relationship.

"Energy sector stocks are down largely because of... Quentin Tarentino's announcement of an upcoming new film."

AcneVulgaris: serpent_sky: make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

Doubt it has to do with anything. Heard a report driving to work this morning "on news that Apple sold a record 4 million iPhone 4S in its first weekend - almost double the amount when the iPhone 4 was released -- Apple stock is down $2.06"

I think these people just spin wheels and decide to buy/sell because that news should drive a stock up, not down, shouldn't it?

The petty fortunes of companies have very little to do with their stock price compared to the effects of the EU shambling toward breakup and the inevitable deflationary effect of Spain, Portugal and Greece defaulting on their debt and making trillions of dollars go 'poof'.

Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid. When their bubble busts, the real shiat blizzard begins.

It's only a question of when.

If Wall Street somehow manages to insulate us from that shiat storm, I'll take back all the bad things I said about them and they'll regain a lot of credibility. That looks to be impossible though, so I'll just go ahead and plan for my 401k to tank.

AcneVulgaris: serpent_sky: make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

Doubt it has to do with anything. Heard a report driving to work this morning "on news that Apple sold a record 4 million iPhone 4S in its first weekend - almost double the amount when the iPhone 4 was released -- Apple stock is down $2.06"

I think these people just spin wheels and decide to buy/sell because that news should drive a stock up, not down, shouldn't it?

The petty fortunes of companies have very little to do with their stock price compared to the effects of the EU shambling toward breakup and the inevitable deflationary effect of Spain, Portugal and Greece defaulting on their debt and making trillions of dollars go 'poof'.

Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid. When their bubble busts, the real shiat blizzard begins.

It's only a question of when.

And when it hits, I think there will be a huge backlash against those the public sees as responsible. If I was wall street, I wouldn't be fighting OWS style movements, but rather, trying to work with them to see what regulations/etc will satisfy the public.

Why? Because eating humble pie and taking a short term loss is better then facing the guillotine when the shiat hits the fan.

Worst.Fark handle. ever.: More like what the Wall Street weasels have done TO the US economy and what they've done AT the People.

Wall Street may continue to shove their sh*t down our throats, but never again will they be able to insist that it's chocolate ice cream.

Well it is brown....

make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?


Won't somebody think of the Dow?

Lords of finance? Is that like the 5 Jew Bankers?

they created a system of complex financial vehicles designed to pass risk off of themselves while hoarding all the reward in a blatant attempt to fleece anyone who isn't an insider to the system?

cause thats what i see the lords of finance doing

FTFA:

An unnamed money manager declared, "Financial services are one of the last things we do in this country and do it well. Let's embrace it."

Maybe we should diversify our competencies in light of the 2008 crisis.

Interesting article that Krugman linked:

"I don't think we see ourselves as the target," said Steve Bartlett, president of the Financial Services Roundtable, which represents the nation's biggest banks and insurers in Washington. "I think they're protesting about the economy. What's lost is that the financial services sector has to be well capitalized and well financed for the economy to recover." (new window)

Which, somehow, brings this to my mind:

"What we did learn is this - it's a hostage that's worth ransoming. And it focuses the Congress on something that must be done." -- Mitch McConnell, Aug. 2011

Get on the phone, banker types. Get Mitch and the rest of your boys doing what it takes to fix this thing.

AcneVulgaris: Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid. When their bubble busts, the real shiat blizzard begins.


Ooof... you wrecked my morning with that.

Tax capital gains as income.

jst3p: AcneVulgaris: Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid.

Citation needed, not because I don't believe you but I am interested.

I personally like this (Dateline): http://www.youtube.com/watch?v=rPILhiTJv7E

The 30x figure might be inflated, but the general point is valid. The deal is China has no FDIC or anything of that nature and their banking system and shady as hell. So everyone invests in property (no savings accounts, 401k, etc) and they basically have the American housing bubble on steroids. When it bursts people are going to be out their retirement savings and pissed as hell. The Chinese government inflates its GDP via construction projects, so they've been complicit in all this. Grab some land, toss some condos up, sell them to people as a "safe" investment.

Because you know property is always a good investment. As American realtors told us throughout the 2000s.

FTA: You see, until a few weeks ago it seemed as if Wall Street had effectively bribed and bullied our political system into forgetting about that whole drawing lavish paychecks while destroying the world economy thing. Then, all of a sudden, some people insisted on bringing the subject up again.

This

I like it when the rightys whine.

It's kind of like a foghorn to keep you from running onto the rocks.

It almost always tells you that you are headed in the right direction.

Weaver95: deadcrickets:
FOX News is still trying day-in and day-out. They are scared to death of the movement and it shows.

they SHOULD be scared.

They should be TERRIFIED. Terrified when something that cuts across most political/economic lines unites people in protest.

The Tea Party? They should be terrified of this too; their little movement is a bump compared to this.

wildcardjack: I have a copy in my outbound stack.

I really hope that's what you call the stack of books next to your toilet.

All_Farked_Up: Tax capital gains as income.

I think all income (except inheritance) should be taxed at the same rate. I exclude inheritance because that is money that has already been taxed.

//Of course I also believe in a flat tax (with nothing taxed below a tax "floor") so I lack credibility.

Antimatter: AcneVulgaris: serpent_sky: make me some tea: Dow is down today. Wonder if it's anything to do with the near-rioting in Times Square Saturday night?

Doubt it has to do with anything. Heard a report driving to work this morning "on news that Apple sold a record 4 million iPhone 4S in its first weekend - almost double the amount when the iPhone 4 was released -- Apple stock is down $2.06"

I think these people just spin wheels and decide to buy/sell because that news should drive a stock up, not down, shouldn't it?

The petty fortunes of companies have very little to do with their stock price compared to the effects of the EU shambling toward breakup and the inevitable deflationary effect of Spain, Portugal and Greece defaulting on their debt and making trillions of dollars go 'poof'.

Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid. When their bubble busts, the real shiat blizzard begins.

It's only a question of when.

And when it hits, I think there will be a huge backlash against those the public sees as responsible. If I was wall street, I wouldn't be fighting OWS style movements, but rather, trying to work with them to see what regulations/etc will satisfy the public.

Why? Because eating humble pie and taking a short term loss is better then facing the guillotine when the shiat hits the fan.

Everybody needs to figure out WHAT regulations the OWS people are looking for. I definitely support finance, banking, election and tax reform, but I'm worried that the movement is too quickly following the course of the Tea Party.

When the teabaggers started out they had a moderately coherent message. Within months however they had degenerated into a collection of hard right fringe nutbags shilling for religious fundamentalism, anti immigration (and immigrants) and anti federal government. Their original message was nearly completely subverted and lost.

The OWS movement was originally protesting finance corruption and the easy purchase of political influence. Nowadays I'm hearing everything from third world debt forgiveness to full anti capitalism. I'm not sure if that's just because of what the media is choosing to report, but their cause would be very much helped by the release of specific and reasonable demands.

Quiefenburger: Krugman is a hack. He squandered what little academic credibility he earned long ago.

As most Nobel prize winners are.

LOL Einstein was a hackz.

This is why Occupy ... should be understood as an anti-corruption movement, not really an anti-capitalist movement. The current US (and global) political economic system is ethically, morally bankrupt, and they're making a killing because of it.

jst3p: AcneVulgaris: Then there's China, with housing prices at 30x median income, all propped up by debt that will never be repaid.

Citation needed, not because I don't believe you but I am interested.

http://www.globalpropertyguide.com/Asia/China/price-gdp-per-cap

Apparently it's gotten considerably worse since I read 30x.