Is the party over?
At the end of the day, its possible that no amount of ingenuity, tenacity, or greed can save Wall Street from the demagoguery of politicians. Whatever happened to all those connections Goldman was supposed to have, heh?
Even beyond the regulation, however, it is starting to seem as if much of the last decade in finance - not just Wall Street, all of finance- was built on unfounded optimism and unsteady economics. A bunch of rent-seeking, poorly researched casino gambling to exploit the few truly value added innovations for all they're worth. At the end of the day, I think investors coming to realize that they've been (and continue to be) played might be even more important than anything the government does.
With politics and economics conspiring to hack away at the big money gambling that makes Wall Street the place to be for the young, smart, and greedy, are the big money days gone? Is there enough dumb money out there to feed the beast? When can we bring the party hats out again?
Just read this .
Dude, personally, I don't
Dude, personally, I don't think the party is over just for Wall Street. The good times are over for everyone. The fiat/fractional reserve currency has failed. Banks won't lend. Borrowers won't pay back. A mix of our cultural attitude (our sense of entitlement) and poor fiscal choices have led us down an unsustainable path. The housing bubble crashes, and the government's response is to prop it up with a synthetic housing bubble. Transfer the bad loans to Fannie, Freddie, and the Fed.
The fact is, at some point, some straw will break the camel's back. We have an entire system built on credit (Latin for Trust). At some point, if one person fails to make payments on their obligations, then the person who trusted them will also default, and the cycle continues.
Take a look at unfunded liabilities. These are the real killers. US Gov won't be able to make Social Security payments, and state pensions will not be able to make the 8% returns each year to keep up with their liabilities. At the end of the day, someone has to get screwed. It may be the worker who slaved his whole life to earn his pension and the fund might not be able to pay it. Or it may be the young worker who is working hard each day who has his tax rate raised to 75% to cover the pension worker. In either scenario, consumption must decrease, since the old worker will have less money (since the pension defaulted) or the young worker will have less money (from high taxes).
Perhaps I'm just a gloom and doom-ist. I just think the party is over for everyone. The system is built on trust, yet we've woven a web of lies to think we are living a life of prosperity. Buying a house with no down payment and no income is not prosperity. Buying a TV from a second mortgage you took out on the expected value of your house is not prosperity. Being levered 30 to 1 so your Bank can take on more risk making markets is not prosperity.
We've gotten to that point in the night (at a good party) where you get a second wind, take a couple extra shots of Jack (or whatever you drink), then fuck some girl with an STD, piss on your friends rug, and drunk text your ex to tell her how much you miss her.
Well tomorrow, we'll all wake up, and realize the mess we've made, and trust me, this hangover/clean up will be brutal.
looking for that pick-me-up to power through an all-nighter?
Awesome finale, LIBOR.
Awesome finale, LIBOR.
I'm glad I'm not the only one
I'm glad I'm not the only one who drunk texts her ex (s).
Are you seriously asking if
Are you seriously asking if politicians will cease to prostitute themselves?
The party's not over, its just in a lull because the cops came and broke it up and when they came inside they saw a bunch of high school kids drinking and smoking and blowing lines and having all sorts of orgies. The parents of the house were out on a run to restock the quickly dwindling beer and drug and dildo supplies and when they got the phone call from the cops, they played dumb and acted as if they had no idea what was going on at their house. Well now all the neighbors are on alert and Social Services is keeping tabs on them, so the degenerate parents are on their best behavior.
Sooner or later, the neighbors will go back to their oblivion, Social Services will stop paying visits, and Mom and Dad will get that itch to get to host a swarm of drunk and horny high school kids.
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Marcus_Halberstram wrote: Are
Are you seriously asking if politicians will cease to prostitute themselves?
The party's not over, its just in a lull because the cops came and broke it up and when they came inside they saw a bunch of high school kids drinking and smoking and blowing lines and having all sorts of orgies. The parents of the house were out on a run to restock the quickly dwindling beer and drug and dildo supplies and when they got the phone call from the cops, they played dumb and acted as if they had no idea what was going on at their house. Well now all the neighbors are on alert and Social Services is keeping tabs on them, so the degenerate parents are on their best behavior.
Sooner or later, the neighbors will go back to their oblivion, Social Services will stop paying visits, and Mom and Dad will get that itch to get to host a swarm of drunk and horny high school kids.
^^funny, but not exaclty a meaningful analysis.
party isnt over, but it wont be as fun going into the future.
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man made the money, money never made the man
hopefully, then the rents
hopefully, then the rents will fall
mr1234
Are you seriously asking if politicians will cease to prostitute themselves?
The party's not over, its just in a lull because the cops came and broke it up and when they came inside they saw a bunch of high school kids drinking and smoking and blowing lines and having all sorts of orgies. The parents of the house were out on a run to restock the quickly dwindling beer and drug and dildo supplies and when they got the phone call from the cops, they played dumb and acted as if they had no idea what was going on at their house. Well now all the neighbors are on alert and Social Services is keeping tabs on them, so the degenerate parents are on their best behavior.
Sooner or later, the neighbors will go back to their oblivion, Social Services will stop paying visits, and Mom and Dad will get that itch to get to host a swarm of drunk and horny high school kids.
^^funny, but not exaclty a meaningful analysis.
party isnt over, but it wont be as fun going into the future.
Um... I thought it was pretty obvious.... any politicians hob-knobbing with Wall Street or accepting their more than generous contributions will be hoisted on a sharpened stick by the media and public... thats why Wall Street connections are currently moot.
And it was an analogy, not an analysis.
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I think the party won't be
I think the party won't be over until completely delibitating and permanent catastrophe strikes while any available government action (low FF rates, easy discount lending, bailouts) is anemic. I think Bernanke has shown us the new doctrine in US Economic Regulation: Everything can and will be done. This means a failure of the economic power/influence of the govenrment must be first.
Plenty of doomsayers talking about the fall of the dollar and chromically unfilled treasury auctions but the reality is still very far away. Maybe not even in our lifetime.
Marcus_Halberstram
Are you seriously asking if politicians will cease to prostitute themselves?
The party's not over, its just in a lull because the cops came and broke it up and when they came inside they saw a bunch of high school kids drinking and smoking and blowing lines and having all sorts of orgies. The parents of the house were out on a run to restock the quickly dwindling beer and drug and dildo supplies and when they got the phone call from the cops, they played dumb and acted as if they had no idea what was going on at their house. Well now all the neighbors are on alert and Social Services is keeping tabs on them, so the degenerate parents are on their best behavior.
Sooner or later, the neighbors will go back to their oblivion, Social Services will stop paying visits, and Mom and Dad will get that itch to get to host a swarm of drunk and horny high school kids.
^^funny, but not exaclty a meaningful analysis.
party isnt over, but it wont be as fun going into the future.
Um... I thought it was pretty obvious.... any politicians hob-knobbing with Wall Street or accepting their more than generous contributions will be hoisted on a sharpened stick by the media and public... thats why Wall Street connections are currently moot.
And it was an analogy, not an analysis.
i agree. somewhere in between the dildos, the beer, the drugs and orgies was a pretty obvious message.
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man made the money, money never made the man
mr1234 wrote: i agree.
i agree. somewhere in between the dildos, the beer, the drugs and orgies was a pretty obvious message.
I was talking about politicians.
There's the problem, I'm sure you get this all the time, but you were entirely too fixated on the dildos.
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there is gonna be another
there is gonna be another party. aint over...
it will just happen at somebody elses house
Marcus_Halberstram
i agree. somewhere in between the dildos, the beer, the drugs and orgies was a pretty obvious message.
There's the problem, you were entirely too fixated on the dildos.
pretty sure it was you who brought the dildos into the conversation. youre just a never-ending-funny-internet cock-swallowing monster arent you? well, its a good thing youre funny. otherwise you wouldnt be very interesting. kidding. dont take this seriously.
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man made the money, money never made the man
Marcus_Halberstram
i agree. somewhere in between the dildos, the beer, the drugs and orgies was a pretty obvious message.
I was talking about politicians.
There's the problem, I'm sure you get this all the time, but you were entirely too fixated on the dildos.
and whats up with the editing. this is the internet you dont need to prove anything.
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man made the money, money never made the man
mr1234 wrote: and whats up
and whats up with the editing. this is the internet you dont need to prove anything.
Is that why you keep coming back to read the post I wrote over and over again?
Get a hobby. Or a friend. Maybe even both.
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I hope Batrick Pateman's
I hope Batrick Pateman's right b/c some of us were still observing curfews at mommy and daddy's house during the last party and would really really like to be at the next one.
dazedmonk wrote: I hope
Party is not over. Things
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The Party will never be over
AnthonyD1982 wrote: Party is
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exactly the mentality of a
Absolut Vodka $29.99, Hyatt Hotel $299, Condoms $9.99. Finding out she swallows... PRICELESS!!! FUCK MASTERCARD IT PAYS TO DISCOVER.
Gate_Crasher wrote: The Party
Marcus_Halberstram
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man made the money, money never made the man
This beggars the question,
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Hug It Out
AnthonyD1982 wrote: Party is
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man made the money, money never made the man
AnthonyD1982 wrote: Rather
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man made the money, money never made the man
AnthonyD1982 wrote: Party is
westfald wrote: AnthonyD1982
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man made the money, money never made the man
mr1234 wrote: AnthonyD1982
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i get what you're saying.
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man made the money, money never made the man
I read this article the other
looking for that pick-me-up to power through an all-nighter?