Second discussion of the Goldman Sachs Mafia article (more pissed off)

[mtlouie]

Macs- I know it.  I know it. 

However, Orwell also said:  "When will the common man realize his power, and rise up, and shake off the chains that bind him?"  I never give up hope.   

[gin]

Which makes me think there's some damn fine people out there working against them.

Also: "When will the common man realize his power, and rise up, and shake off the chains that
bind him?"  George Orwell We aren't sheep to the slaughter unless we ALLOW ourselves to be.

good old Aig used to be one of those damn fine 'people'.. gone.. next..

when will the sheple shake off his chains.. what chains 
as long as "The Medium is the Massage".. probably never..

[Chesyre]

but teleprompter in chief just told us we got chains we can believe in , thank you satan 

[gin]

but teleprompter in chief just told us we got chains we can believe in , thank you satan 

McLuhan claims that the ten thunders in Wake represent different stages in the history of man:[50]
* Thunder 1: Paleolithic to Neolithic. Speech. Split of East/West. From herding to harnessing animals.
* Thunder 2: Clothing as weaponry. Enclosure of private parts. First social aggression.
* Thunder 3: Specialism. Centralism via wheel, transport, cities: civil life.
* Thunder 4: Markets and truck gardens. Patterns of nature submitted to greed and power.
* Thunder 5: Printing. Distortion and translation of human patterns and postures and pastors.
* Thunder 6: Industrial Revolution. Extreme development of print process and individualism.
* Thunder 7: Tribal man again. All choractors end up separate, private man. Return of choric.
* Thunder 8: Movies. Pop art, pop Kulch via tribal radio. Wedding of sight and sound.
* Thunder 9: Car and Plane. Both centralizing and decentralizing at once create cities in crisis. Speed and death.
* Thunder 10: Television. Back to tribal involvement in tribal mood-mud.
   The last thunder is a turbulent, muddy wake, and murk of non-visual, tactile man.

[jakam75]

I went out and bought "Rolling Stone" and read the article.  How embarrased was I to buy a magazine with the gay boy band on the cover.  Anywho, It made me realize how wrong we all were about the price of gas being a supply issue.  PO or at least the ramification of it is off in the future somewhere.  And now that it is clear what the next bubble is likely to be what are we going to do about it.  There doesn't seem to be much to do about it except ride the wave.  There has to be a way to profit off of this.  Sad but true.

[slow_dazzle]

but teleprompter in chief just told us we got chains we can believe in , thank you satan 

McLuhan claims that the ten thunders in Wake represent different stages in the history of man:[50]
* Thunder 1: Paleolithic to Neolithic. Speech. Split of East/West. From herding to harnessing animals.
* Thunder 2: Clothing as weaponry. Enclosure of private parts. First social aggression.
* Thunder 3: Specialism. Centralism via wheel, transport, cities: civil life.
* Thunder 4: Markets and truck gardens. Patterns of nature submitted to greed and power.
* Thunder 5: Printing. Distortion and translation of human patterns and postures and pastors.
* Thunder 6: Industrial Revolution. Extreme development of print process and individualism.
* Thunder 7: Tribal man again. All choractors end up separate, private man. Return of choric.
* Thunder 8: Movies. Pop art, pop Kulch via tribal radio. Wedding of sight and sound.
* Thunder 9: Car and Plane. Both centralizing and decentralizing at once create cities in crisis. Speed and death.
* Thunder 10: Television. Back to tribal involvement in tribal mood-mud.
   The last thunder is a turbulent, muddy wake, and murk of non-visual, tactile man.

gin - I'd like to read up on this stuff - can you point me in the right direction?

Ta

[gin]

gin - I'd like to read up on this stuff - can you point me in the right direction?Ta

http://en.wikipedia.org/wiki/Marshall_McLuhan#War_and_Peace_in_the_Global_Village_.281968.29

[slow_dazzle]

Thanks gin - appreciated

[DimLightbulb]

I went out and bought "Rolling Stone" and read the article.  How embarrased was I to buy a magazine with the gay boy band on the cover.  Anywho, It made me realize how wrong we all were about the price of gas being a supply issue.  PO or at least the ramification of it is off in the future somewhere.  And now that it is clear what the next bubble is likely to be what are we going to do about it.  There doesn't seem to be much to do about it except ride the wave.  There has to be a way to profit off of this.  Sad but true.

Not quite "all".  Some here were of the opinion that it was mass speculation by the banks using their offshore accounts.
It all came to a head and burst after the King of Saudi Arabia had his little meeting with a few invited guests.  I would love to know what the King told them.

[Bloodstone]

Something makes me think they were just trying to start inflating the bubble early and then let the erosion of supply catch up to them.  Corner the market if you will, but the drop in demand caught them off guard and deflated the bubble.

[Jeromie]

The  GS people are hustler's always.   GS and every trader and trader organization  make their killings off movement.  Hustler's always work the short term. You cannot understand Wall Street and traders  without being a born hustler.

[DimLightbulb]

The  GS people are hustler's always.   GS and every trader and trader organization  make their killings off movement.  Hustler's always work the short term. You cannot understand Wall Street and traders  without being a born hustler.

How very true Jeromie.  I worked on Wall Street back in the 80's as an analyst's assistant.  Spent my days pouring over 10K's, 10Q's, Annual reports doing ratio's for my boss who then took the numbers and made buy/sell recommendations for the firm.  Was a small, old estabished firm in NYC.
Then got my Series 7 and was tossed a few customers..the ones that don't have much money and trade rarely.  Being conservative I put them into safety which pays no money really.  The guys doing speculative trading (even back then) were raking it in.  They didn't care about a company's fundamentals..they wanted to ride the hot stock.  I realized I couldn't do it and left Wall Street.

But it was a fascinating time for me; I learned a lot, saw a lot and heard a lot (I worked at EF Hutton during their check kiting days).  In the 20 years since then I've never used a broker nor any of the big name firms for my trading.

[Zac]

Some interesting insight from an 80 year old (now deceased) highly placed economist:

The payoffs of the accounting firms in the nonsensical form of "consulting" fees has been going on ever since I can remember. For every dollar of auditing fees the same companies would get 5 dollars of consulting fees. Now wonder auditing is a joke and it is a hilarious funny foisted on the American people. The accounting profession has as many whores as the casinos in Las Vegas. My years of experience with auditors is that they were financial puppets for management.

http://web.archive.org/web/20060510195336/www.parida.com/wallstreet.html

[Jeromie]

Zac, very true.   I spent an entire career hustling the auditors by default.   I got involved in this by being the person responsible for the Tax Provision in the financials.   My main job though was outside that.  The tax positions were mine and on my head.    Every time a new tax partner at the auditors came into the picture he would try  and sell eliminating my job and having the  firm do the tax returns.  So, I had to bait em to sting em every so often.  Since I made it my business to know the business inside and out and they did not they got bested.  That is a SOB way to have to live but it was my trade. It  also makes one understand the reality of the adversary to  survive.

 The big audit firms are pimps but they too had  people with the same problems of  sneak attacks I encountered . The audit partners were looked down on by the consulting partners.   So the pimps usually manipulated the  audit mice.


In my case, the last twenty years were private and their problem was hiding profits rather than creating profits. The auditors  forced profit increases.  The big guy never gave up the idea that you do not know what you made on a job until it was complete.  Hence, the project people incessantly squirreled profits.  I had to find them and put them into the tax return or face ruinous Lookback Interest payments to the Feds.     If I put too much profit into the job , I made an interest killing. That was especially true if a job popped high profits at the end naturally.   The items tended to then offset.     I never divulged my secret  to the auditors of how I could spot profit squirrels and sometimes hidden losses.   I just said it was plodding around the numbers.

[Satori]

a little more outrage for you

http://crooksandliars.com/susie-madrak/taibbi-impending-rule-change-means-go