Governor of New Jersey Chris Christie went to the hospital today due to breathing problems. As it turns out it wasn’t because he is obese but because he has asthma. I find it interesting that he is so passionate about fiscal responsibility when he likes to take helicopter rides to his son’s baseball games.
The moment you have all been waiting for – Step Aside Show Episode 1. That’s right, the podcast of all podcast’s is now available on an Internet near you. Here’s a quick synopsis:
- News of the World scandal
- Some old-fashion wife raging
- Blink Book Review
- Random Guy Stuff
It’s one thing to bet against big banks on the the future of there mortgage backed securities, but it’s a totally different thing when it’s the loan obligations of the United States government. A credit default swap (CDS) is *basically* like shorting a stock – except instead of being a paper traded equity it’s a large pool of borrowed money. Should investors be allowed to short the United States Government? I don’t know, but now is probably your best time to do so.
Michele Bachmann has a problem with migraines and has a problem with pills for it….allegedly. Michele Bachmann isn’t that much different than many Americans. There are many people who have problems with stress, they use pills and other things to deal with it…. also they disagree with abortions in the case of incest and rape. Oh wait, that’s Michele.
CEO Jamie Dimon and other executives of the investment and commercial bank have been lobbying around Washington that new regulations for Wall Street are too strict. JP Morgan claims credibility in the issue of regulation because it was part of the solution to the financial crisis not part of the problem. Leavening most government officials, including Ben Bernanke (Brooklyn Steve’s personal hero), to say “Oh good for you, but you still have to play by the rules.”. While JP Morgan was not as problematic as others on Wall Street institutions there is no denying that they accepted government assistance in more than one form. This logic problem evokes Parmenides fallacy and the ability to compare two different end states of a given course of action. The truth is we cannot empirical for see the end result of a choice we didn’t make. Suppose JP Morgan would have survived the financial crisis because of its intrinsic risk management in the absences of government regulation, what of the other investment firms that did not have this foresight. Could JP Morgan have survived even if all others failed?
Last Friday, July 15th a 3rd party seller in the Sears Marketplace put a sale price of $69.00 for the Apple iPad 2 (normally $499 just about everywhere else). This, as expected in today’s Apple obsessed society, created a storm of purchasers trying the get the coveted tablet at an incredible discount. This was of course, as any rational thinking person would think, a typo. As orders were being cancelled and people’s money began the refunding process – the outrage across the Internet started to unfold and continues today. What do I think? I think the people that complain about this need to grow a brain and realize that when something seems too good to be true – it usually is.
That’s right, get ready for a fire sale on books as the gargantuan retailer Borders Books goes bankrupt and liquidates its 399 stores across the country. However, it is not all good news. Now where are dreadlock sporting hipster douche-bags going to lazily sit around, sip their Starbucks Iced Chai Latte, and read free books? From my perspective, they have two options: the first being their parents couch; read books off a Kindle or tablet where the rent might be free, but eBooks are not. The other option is their local library where books are again free and you can even take them outside; not that I think these people really have anywhere to go. I for one welcome these outcasts to my local library, which is otherwise inhabited solely with an odd pairing of annoying little kids and creepy old people.
I understand commodities, I really do. What I don’t understand is the fascination with investing in gold. By putting all your money into gold, you’re practically betting on the collapse of the world financial system. This, I believe, is why certain news and entertainment entities are constantly advertising it to you – to drive more fear into you. Trust me, if the world economy crashes tomorrow – you are safer NOT having a brick of gold stashed under your mattress.
Chad Kultgen, author of the Average American Male, is quickly becoming my favorite living author. His first novel warmed my heart with its story of a young man’s quest to dump his fat girlfriend and hook up with a hottie. What follows is an excerpt from a final examination essay he wrote in college for Political Science 149:01, Lesbian and Gay Politics. Although, not enrolled in the class he thought it was funny to submit an exam, I agree. The full essay can be read on his Harper Collins website.
“Nonetheless, what we should really be focusing on here is all the torment and pain suffered through and overcome by the “Lesbian” and “Gay” community at-large. But before we do that, let’s get to the meat of the problem: Where did all the gay and lesbian “people” come from? Now, I’ve heard all the same have. Gay men are robots from a planet shaped like a penis. Lesbian women are lizards magically transformed by an evil magician into humanoid women whose tongues still crave the warm confines of dark crevasses. Still other theories state that gay men come from pudding while lesbian women are actually gay men who were born with female genitals as well as a healthy attraction for women. So, where does that leave us? Who knows, but I do know this: Gay and Lesbian rights are something that have been fought hard for over the years, and hopefully in the near future, they will be allowed to vote”
High frequency traders catch a bad rap. Why? I certainly don’t know, and neither does Washington really. All the SEC knows, as well as other Washington regulators, is that these firms are profiting from something they cannot comprehend and therefore it must be illegal. Go ahead and read any newspaper article on the topic of high frequency trading, and you’ll see a slew of quotes from regulating officials that say something along the lines of “this practice *might* be causing instability in the markets” or “*may* be gaming the system.” How about some hard facts before you go a ruin a fair profit for these individuals!