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Great post.

Clubber- Serious question, not flaming- Would you admit the economy is rubbish in most parts, and more importantly, that the risk/reward profile at these levels for investors and traders is incredibly less attractive than in March? Would you consider it possible (let alone likely)...

Props to government officials and equity salesmen for the best propaganda campaign (Green Shoots!) since Goebbels.

Overly Optimistic Consensus Plays Greater Fools' Game Once Again The crowd is often right except at market turns. After the turn, the crowd tends to hold on until most previous gains vanish. In a secular bull market, such optimism works out acceptably well. In a secular bear market, rampant...

steph, I always enjoy your wisdom-rich posts

The shoeshine boy, the homeless Moscovite... This ends quite badly -

October 13, 2009 , 5:04 pm Leading indicators and the shape of the recovery Michael Shedlock has an awesome takedown of ECRI’s claim that its indicators (a) have successfully predicted turning points in the past (b) point to a sold recovery now. I’d add that this is a really, really bad...

http://www.bloomberg.com/apps/news?pid=20601087&sid=awIB1j_DzzAU

http://www.elitetrader.com/vb/showthread.php?s=&threadid=179157

Wall Street Smarts http://www.nytimes.com/2009/10/14/opinion/14trillin.html?_r=1 By CALVIN TRILLIN Published: October 13, 2009 “IF you really want to know why the financial system nearly collapsed in the fall of 2008, I can tell you in one simple sentence.” The statement came...

5. Independent contractors are not counted. If they have no work, they don't show up in BLS stats. Many Americans are ICs.

The great irony is that the higher the market goes in divergence with the deteriorating economy, on the false assumption the USD will be weak forever (not to mention that this will kill the consumer ultimately and sap American consumer demand, cutting deeply into corporate profits/margins; hair...

We are going to have an equity correction for the record books, sooner rather than later. - BLSH, October 14, 2009

- Federal Reserve Vice-Chairman Donald Kohn said in a speech the recovery will not be V-shaped, healthcare giant Johnson & Johnson <JNJ.N> posted disappointing quarterly revenue and closely watched independent analyst Meredith Whitney downgraded her view on Goldman Sachs <GS.N> two days before...

Green Bamboo Shoots! http://news.bbc.co.uk/2/hi/asia-pacific/8306052.stm

They said the same shit in the 70s and 80s. It will take someone like Volcker to come along, but political pressure will force it, ultimately.

Yep, no nepotism or conflicts of interest here... ..nothing to see, so just move on. (This country is rotting just as Rome did. "Let me get mine, and f**k everyone else. I control the doling out of favoritism, and can pick winners and losers.")...

More arranged marriages last than western ones. People learn to accept things when they have no choice, and they are more likely to be happy than constantly window shopping. I agree that many foreign women are far easier to make happy, and far less materialistic and shallow, than many...

Don't forget their stimulus is far higher as a % of GDP than the U.S., and that ma and pa in China are literally borrowing money from the banks and investing it in the markets. ...not to mention the subsidies the central gov't is providing on everything to heating oil to diesel... p.s. -...

Continued A Different Kind of Provider As a captain for ExpressJet in calmer times, Mr. Lawlor commuted across the country to Los Angeles, his home base, for each three- or four-day trip. Now, as a first officer, his base is Newark, a far shorter commute from the Lawlor home in this...