12:00: Again?
12:06:
Don't worry. This is NOT all I've got. I've got more. I'm just not telling you what yet.
Questions.
Q. You know there is just one president at a time, right?
That president is Barack Obama George W. Bush and will be until I am sworn in. But people need to know that I'm president next. I'm next! I'm next! I'm next! They have to know it's B-Time.
Peter, Where's your floppy hat?
Q. Aren't you totally going to fuck this up with a democratic congress AND a democratic administration?
A. Hey, we won ok? Like, with a wider margin than Clinton did. Ok?
Ok, where's my plant question about local issues?
Q. What are you going to do about local money grubbing states are bankrupt. Illinois particularly. Huh? Huh? You going to forget your friends?
A. Oh, we are going to be working closely with states, and local governments. Just like we are going to work closely with Republicans. With the current administration. With France. With Iraq. With Iran. With North Korea. And friendship doesn't come into this. That's the old way of doing business. So, thanks for the help on the campaign. Now go pound salt. (Shhh, relax, the camera is on, we'll chat later. 'kay? Thanks. Bye).
Q. How are you going to keep this massive spending spree from getting out of hand and how are you going to keep these programs from becoming permanent bloodsuckers attached to the treasury?
A. I'm going to make all medical records electronic. Wait for it... wait for it.... No? Ok, cause that's what my team is here for. They are going to take care of it. No really. Don't worry. Got it all under control. What? Market? Triple digit gain wiped out since I started talking? Woah... look at the time! I have to jet. Tomorrow. Same time, same place. More appointments.
Posted by guest , Nov 25, 2008 12:11PM
more bob rubin fingerprints on the messiah's speech
does change = clinton retreads?
Posted by guest , Nov 25, 2008 12:13PM
what do you got?
Posted by guest , Nov 25, 2008 12:13PM
Is this all you got or do you have anymore?
Posted by guest , Nov 25, 2008 12:13PM
Did you see that bad hair piece on the white guy to the left of the screen?
Is Davey Crockett now working in the Obama Administration?
Never trust a guy with a bad hair piece....
Posted by guest , Nov 25, 2008 12:14PM
Can't wait to meet the nominee for the white house intern.
Posted by guest , Nov 25, 2008 12:15PM
Gasparino! What you got on this today????
Posted by guest , Nov 25, 2008 12:16PM
Can't wait to meet the nominee for the white house intern.
Posted by guest , Nov 25, 2008 12:18PM
So the man ran for president and won and just now says he discovered that we pay billions out to big agra in subsidies to farmers for them not to grow crops and that some of these farmers make in excess of $2mm dollars?!?! So he is just gonna wipe that out; heh, I'd like to see how he gets that through his stuck on stupid congress.
Posted by guest , Nov 25, 2008 12:20PM
Go pound salt? It's sand, not salt. Geez.
Posted by guest , Nov 25, 2008 12:22PM
How long will it be before B to the O admits he can't change the world? He keeps saying that GW is still the President as though once he gets in office, the markets are going to soar, credit will be available and cheap, etc.
I know, I know...I obviously don't know HOPE when I see it.
Posted by guest , Nov 25, 2008 12:23PM
this situation seems very fluid
Posted by guest , Nov 25, 2008 12:24PM
Barry is America's jackass
Posted by guest , Nov 25, 2008 12:24PM
@ 10
over under March 1 when the sheeple march on washington to demand Obama pay their mortgage and fill up their cars like he promised
Posted by guest , Nov 25, 2008 12:28PM
@13
I give it till August 09.
But, you know that Obama/Rahmbo are secretly loving this crisis. Ofcourse by 2011 (just in time for re-election) the market will hopefully naturally (w/o regard to Obama) have shown some uptick in growth and he will be able to claim that he truly is the chosen one and that he created..up wait no "saved" jobs.
Posted by guest , Nov 25, 2008 12:29PM
You guys just need to admit that it will be nice to once again have someone in the white house with brains and an interest in the job. Ideology is far less important. BTW, anyone out there get an invite yet to Bristol Palin's wedding?
Posted by guest , Nov 25, 2008 12:31PM
W got handed a steaming pile of shit via 09-11 and the tech bubble. Life gave him lemons and he pissed in a pitcher and called it lemonade.
These constant press conferences are starting to seem like a subtle framing of that fact.
The bar is set pretty low for Obama. Even just moving our status from FUBAR to TARFU will make him look like a hero.
Posted by guest , Nov 25, 2008 12:34PM
@ 15
if your brains are powered by failed principles what good are they
Posted by guest , Nov 25, 2008 12:34PM
@16
Ugh! You are so right! That is thing that infuriates me the most. The fact that he will most likely get a de facto free ride and the majority of the idiot voting block won't be nary the wiser.
Posted by guest , Nov 25, 2008 12:35PM
Holy Crap.
Look at the obama guys mouth.
AMERICA DESERVES A BETTER PRESIDENT
the fact that America chose him shows the clear decay of thinking and may be fate has befallen on them
GOD BLESS AMERICA (save them from obama)
PS: I hate GW too...but this guy is going to be worst of the lot
Posted by guest , Nov 25, 2008 12:35PM
I'm a conservative and I was home skooled.
Posted by guest , Nov 25, 2008 12:35PM
# 15 you an a unique inability to focus on the fact that the country elected an empty suit
Posted by guest , Nov 25, 2008 12:36PM
# 15 you an a unique inability to focus on the fact that the country elected an empty suit
Posted by cy , Nov 25, 2008 12:38PM
skewl sux
Posted by guest , Nov 25, 2008 12:38PM
I would argue that the bar is not low at all. Jindal, for example - essentially the Obama of the right (similar traits, but a rabid social conservative, which plays very well in certain places) - is already squeaking in the wings. People are looking for good government. Not small govt, which W promised but really didnt deliver, but good government. F things up and its Jindal 2012.
Posted by guest , Nov 25, 2008 12:39PM
20 You mean W?
Posted by guest , Nov 25, 2008 12:39PM
@ 20/22
huh? i could care less about GWB. he doesn't have a clue either. i just want to be out of the cities when buyer's remorse kicks in and the Obama-bots demand their "free" healthcare, college tuition, and mortgages
Posted by guest , Nov 25, 2008 12:47PM
I figure you start shorting the long bond about the end of Jan/2009.
I think news lows will hit feb/march 2009.
Everyone wants to buy the "obama as savior" right now and pretty soon will sell the "obama as president".
Lets face it this is a shit show - and the expectations for Obama are way to high.
For the record i think some of hte euphoria directed at obama actually has to do with the simple fact that Bush/Cheney are finally going to disappear.
Posted by guest , Nov 25, 2008 12:47PM
Did you see that bad hair piece on the white guy to the left of the screen?
Is Davey Crockett now working in the Obama Administration?
Never trust a guy with a bad hair piece....
Posted by guest , Nov 25, 2008 12:54PM
@18
OOps! Pardon my double negative.
Posted by guest , Nov 25, 2008 12:55PM
Was that thing on the incoming budget director's head alive? Is it related to Trump's?
You see, those are the things that Bess would concentrate on. But all we get from EP are cynical unfunny remarks.
Posted by guest , Nov 25, 2008 1:00PM
@27 since when did Cheney come back from the dead? We haven't had a VP since '06.
Posted by guest , Nov 25, 2008 1:10PM
Fo Shizzle obama on the Televizzle
Posted by Clown Capital , Nov 25, 2008 1:29PM
@24,
FYI, Wikipedia:
"According to family lore, Jindal adopted the name "Bobby" from the character Bobby Brady after watching The Brady Bunch television series at age four."
Are you fuckin' kiddin me??? This guy wanted to be a Brady??? LMAO.
Posted by Headless Horseman , Nov 25, 2008 1:29PM
Hypothesis: Higher voter turnout results in worse Presidents being elected via the watering down of our electorate.
In this most recent election, the rational and engaged portion of the electorate was diluted to the point of being inconsequential by a strong turnout of tree huggers, Jesus freaks, white supremacists, abortion crazies (anti and pro), women voting solely based on whether a female is on the ticket, minorities voting solely based on whether a minority is on the ticket, rednecks, and howl-at-the-moon lazy asses looking for a handout.
While everyone is entitled to vote their conscience, our nation is better served by a more engaged, smaller, and more well-informed electorate that vote based on a thoughtful consideration of the serious issues facing our nation.
I'm a Republican and I'm embarrassed by how many fellow Republicans (especially from the south) still think Obama is a terror-loving Muslim fundamentalist and/or haven't even a cursory familiarity with any issues other than abortion and/or gay marriage.
I'm from Ohio and I'm embarrassed by how many fellow Ohioans are against free trade because their union stewards told them it's the way to go...but then shop at Wal-Mart (notorious for closing store rather than allowing them to unionize) because shits cheaper there (even though most all of it comes from the very same Chinese factories that are allegedly "stealing" their jobs).
The candidates and office holders are only as good as the people that show up on Election Day.
Discuss.
HH
Posted by guest , Nov 25, 2008 1:34PM
If we had elected Spitzer, he would have promised "a hooker on every cock."
Posted by guest , Nov 25, 2008 1:36PM
IDIOCRACY
Posted by guest , Nov 25, 2008 1:36PM
What's with all the Obama hating? Seems clear we finally have a thoughtful and interested President who isn't tied to ideology or cramming through a Democratic agenda (even though he could). He's simply focused on doing what is right. He's not repealing Bush's tax cuts on the wealthy and he's right of center in foreign policy. His economic stimulus plan makes sense, he's making all the right appointments and he's clearly commited to surrounding himself with the best and brightest. Jaded right-wingers should be happy with what they've seen so far, but on this site its all the same grade-school name calling. This is what rallying around a new President feels like? All I have to say is thank God Sarah Palin is no where near DC. Her presence on the ticket disqualified the Republican Party from the White House...wake up people.
Posted by guest , Nov 25, 2008 1:44PM
Nothing changes until Keynes is no longer the gospel.
Posted by guest , Nov 25, 2008 1:44PM
@37
"simply focused on doing what is right"
I think George Bush qualifies for that title as well. Apparently that doesn't guarantee successful policy.
"His economic stimulus plan makes sense"
Government "stimulus" doesn't exist. You are taking with one hand and giving it out with the other. The government isn't a source for anything; everything that it spends or produces comes from the real economy (you and I).
Posted by guest , Nov 25, 2008 1:47PM
@38 and 39. Amen. Until the Austrian School is the dominant paradigm, we are fucked.
Posted by guest , Nov 25, 2008 1:49PM
Never mind FDR's infrastructure spending...that didn't work at all.
Posted by Headless Horseman , Nov 25, 2008 1:53PM
@39
"simply focused on doing what is right"
While I concur with your assertion that President Bush was well-intentioned, I don't think he really focused on much of anything. Just saying.
To your second point: Milton Freidman is quoted as having said "Inflation is taxation without representation." I couldn't agree more. The government does not miraculously create economic activity from the ether. An increase in government spending requires an increase in taxes to fund the incremental spending (or more commonly and increased budget deficit which ultimately results in inflation).
Posted by guest , Nov 25, 2008 2:00PM
41 Maybe so, but in NY alone it resulted in a lot of very important infrastructure improvments. Taking that into consideration it was a win. An investment in the future. In NY, we should hope for a second round of the same.
Posted by guest , Nov 25, 2008 2:03PM
@43, I think 41 was being sarcastic
Posted by guest , Nov 25, 2008 3:08PM
@43
Are you kidding me?!! FDR's new deal was horrible for the new country! Protectionism, higher taxes, Agra subsidies, amendments to the constitution (which has resulted in gross abuse of power from the white house down since then) so he could push through things that flies in the face of what the Constition was created for- to protect man from government (i.e. freedom from the gov't)(the bill of rights was directed against the government); Social Security and etc....
Are you trying to tell me that private companies wouldn't have come along eventually and built bridges and tunnels? Because they would've.
I think we can all safely say that most of the gov't run entities are almost an abject failure. MTA, Port Authority, the use of unions, etc. (As it is, the majority of our tax dollars go to welfare like programs, just think if that money was cut in half-given back to the rightful earner- and the other half directed towards running the infrastructure!!)
I'm not saying those things couldn't be run effectively, but with all the beauracratic red tape and mis management they are basically DOA.
The main problem with the US eloctorate is that they believe the gimmick concept of "economic" rights versus the constitutions intended "political" rights.
ok, I'll back away slowly from the soap box now.
:)
Posted by guest , Nov 25, 2008 3:20PM
45 You've obviously been captivated by the Amity Shales book, as has the WSJ editorial page. Even though its controversial at best. Oh and no, I dont think a private company was going to come along and build bridges and tunnels, just like they didn't step in and start building the Second Avenue subway (thats in NY, BTW) when construction was stopped on it in the Koch (I believe) administration.
Let me just add that it looks like I have a hard core libertarian on my hands here. Like most of that breed, I think you're basically dishonest about what the appropriate level is in our lives for government involvment. That is, you're happy to drive on govt paved roads, but unhappy about my subway ride being subsidized in any way. Its as if one is free and one not, only because they collect an implicit fare on one, but none on the other.
Posted by guest , Nov 25, 2008 4:24PM
@46
Dude! I take the 1 everyday..I live in the West Village! Yes, the second avenue line; gee what a perfectly great example of gov't incompetence.
Like I said before, the government should stick to the most basic of civilization needs...it's when they start taking care of large numbers of it's citizens that unfortunately many of the basic government provided functions suffer.
I think you and I both know that the MTA has royally screwed up thier books...no thanks to Pataki!
P.S. try not to be so quick to think you know someone!
Posted by guest , Nov 25, 2008 4:33PM
@46 Oh, and considering the ridiculous amount of money flowing into the MTA one would think that basic service and clean subway stations would be somewhat attainable all throughout the NYC transit system...but unfortunately a huge portion of thier budget goes to union negotiated benefits and an unfortunate mis management of man power and resources.
Like I said, more red tape. Not unlike the auto industry....where once again government and special interests have rendered them quagmires.
Posted by Joseph di Jersey City , Nov 25, 2008 4:45PM
45: A big difference between roads and subways is that the former are largely self-funding via gas taxes and tolls while the latter are heavily subsidized (ironically, sometimes by tolls). The fares only pay for half of the cost of running the NYC subway and this is on the high extreme for public transit.
Posted by guest , Nov 25, 2008 4:53PM
@49
I know how the MTA is funded, my argument was that with all of the subsidies from the gov't, tolls, and fares they still seem to manage swinging from a surplus to a catastrophic deficit....and a big drain on thier balance sheet (which has recently come to light) is abuse of disability payments to retirees... along with pensions and etc.
My point being that, most any other company (not using examples from our current business environment, because lets face it...the MTA has been in the pooper for quite a while..the recession is just an excuse for them to arm wrestle taxpayers for an even bigger bail out)would have failed. I don't understand why there isn't more transparency with this government entity...lest we not forget the two different books they were keeping that came to light a while back.
Posted by guest , Nov 25, 2008 5:24PM
The New Deal didn't end the depression and it could very well be argued that it prolonged it. WW2 is what finally brought the US out of the doldrums.
Posted by guest , Nov 25, 2008 5:28PM
the bombing will start in five minutes
Posted by guest , Nov 25, 2008 5:33PM
Announcement
Chairman Ben S. Bernanke
Troubled Credit Card Balance Relief Fund (TCCBRF)
November 25, 2008
I appreciate having this opportunity to announce the Treasury's Troubled Credit Card Balance Relief Fund, or TCCBRF, and to discuss recent steps taken by the Federal Reserve and other agencies to support the normalization of credit markets.
The TCCBRF has been created to promote financial stability within the consumer credit market. That Oversight Board has met four times, reviewing the inability of American consumers to live within their means and discussing possible additional steps that might be taken to prop up consumer spending. The value of the TCCBRF in promoting consumer spending has not yet been demonstrated. Despite the intensifying consumer spending crisis, the Treasury is confident that the newly unveiled TCCBRF will increase consumers ability to finance goods they could not afford otherwise. Failure to prevent consumers from living beyond their means to keep up with competing neighbors almost certainly will have dire implications for both the U.S. and world economies. Fortunately, the existence of the TCCBRF will allow the Treasury to react quickly by announcing a plan to pay consumer's minimum credit card payments up to an aggregate amount of US $950 billion. As we write this announcement several thousand delinquent credit card holders are being notified via email that they will no longer have to pay their credit card balances. This action, along with the Federal Government's HOPE NOW program, which will also pay thousands of American's mortgage payments, will ensure that no American will have to slow spending for many years to come. Along with these two measures, the Treasury has also engaged with several large insitutions to begin a moratorium on auto-reposessions.
These recent steps, although drastic, will help not only to prevent a decline in consumer spending, but will delay any actual problems from surfacing. The aformentioned facility hopes to encourage increased lending and securitization, lowering borrowing costs and increasing affordability of various consumer products.
Thank you. I would be pleased to take your questions.
Posted by guest , Nov 25, 2008 5:40PM
@51
Welcome to what we all already knew circa numerous years ago!
Posted by guest , Nov 25, 2008 5:50PM
47 Thanks for the reply, but I'm still not sure whether or not you think that someone is going to step into the breach and do infrastructure projects. Back to my second ave subway example: if the city stopped it again, is a private company going to step in? I think not, yet that project is a worthy one, something that will bring job growth and tax revenue to the city. But by your way of thinking if private money is not going to pay for it, its not worth having.
Posted by KevinB , Nov 26, 2008 3:35AM
@38 - What, specifically, is your beef against Keynes? Everything was ticking along fine until 1) Johnson thought he could run a war and build a welfare state at the same time, and 2) that prick DeGaulle started a run on US gold. Once Nixon closed the gold window, and thus explicitly repudiated Keynes, who thought fiat money was anathema, it was only a matter of time before the house of cards that is the post-Bretton Woods monetary system collapsed. The miracle to me is that it took this long. Of course, it required the complicity of Greenspan, who as an ex-Austrian, should have known better, and the total lack of due diligence amongst the big swinging dicks of Wall Street, many of whom now stand (slump?) revealed as tiny, shriveled penises (penii?).
Posted by guest , Nov 27, 2008 1:45PM
FourWinds Capital Management
New Hires and Recent Promotions
Judson Trapnell, Associate
The Manly Arts
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“It’s much easier if both of you are looking for something to take home. I have a couple of friends I can rely on, and not to sound cocky, but I’ve never been that desperate,” Mr. Trapnell said. “My success rate is a lot better when I’m at a party—or at a private club, a university club—and I meet a mutual friend.”