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Friday, December 08, 2006

Right On Schedule

Right on schedule, several more subprime mortage companies shut their doors this week, the unemployment report showed unemployment edging up to 4.5% (insignificant, really, the revisions in these have been running so high that you can't tell what is really happening except that the service industries are adding while manufacturing and construction are cutting), the ISG report on Iraq was released (it's Israel's fault for occupying the Golan Heights, somehow - lalala progressive fantasy), and... my mother's package of Christmas cheese and sausage arrived yesterday, Chief No-Nag walked in the house with it, and Sarah Bernhardt the Bulldog launched into a tragicomedy of epic proportions.

This morning she executed several hours of staggering, trying to faint gracefully on the living room floor, flinching when approached (to demonstrate the cruelty of a cold, uncaring world towards bulldogs), and woeful glances of pain and uncomprehending suffering toward Chief No-Nag. When that didn't work, she tried limping.

In the midst of this, Rescue Dog was frolicking with unrestrained joy. I have been sick, and last night and this morning was the first day I could walk with them in several days. This caused extreme jubilation in Rescue Dog which could only be expressed by running in place, leaping, spinning, and playing. So at 6:00 AM it was gasping woe, leap, faint, spin, stagger, Rescue Dog rocket (several feet straight up, spin at apex, descent, and boink on landing), limp-stagger.

Eventually, canine joy conquered canine cheese-and-sausage-deprivation-induced woe, and the bulldog joined in the party. Shortly thereafter, I offered up a few morsels of sausage and cheese to bring the morning's drama to an eminently satisfactory conclusion for all concerned.

May joy conquer woe for the rest of you today! Just remember that real joy is generally induced by dealing successfully with reality. Rescue Dog remembers how very sick I used to be, thus his worry if I get a virus and his joy when rapid recovery is observed. There is no Palestinian organization of any significance that is willing to concede that Israel has the right to exist, and Hezbollah is adamant that it does not have a right to exist. As the rockets rain down on Israel, the idea that Israel can afford to hand off the Golan Heights is ludicrous.

Morning Mama; Sorry you've not been well. I thought the Hot Toddy (with the singing) and Airborne were doing the job.
They did. This is really a hangover from something I got this summer (and the flu shot). I don't know why I get flu shots. They always make me sick. It's the triumph of hope over experience, I get.

I strongly recommend the hot toddy remedy when you really start feeling bad. It works better than anything else!

(If I had to trade for a living, I'd probably keep a continuous course of them throughout the day!)
If you had to trade for a living, you wouldn't have time to write all of these interesting and informational posts. I on the otherhand, am not burdened with that intelligence which would obligate me to keep the world informed with the important issues of the day. I started a blog and have quickly discovered that traders don't have much to add to this world. Probably why Howard keeps putting up pictures of Gwynyth Paltrow et al.
1)We need dog pictures

2)It's almost as if the ISG report was written to cause maximum damage to the US and other civilized nations. If they didn't think the Iraq war is winable and/or worth the cost, they could have just said so. There was no need for the pathetic stuff about begging for help from Iran and Syria, or the malevolent stuff about undercutting Israel.
CF - but at least he posts pics of women usually looking sexy. He didn't post Britney's private parts, for example. I accidentally ran across one of those, and I must say that I think there is a good reason why those used to be considered "private" parts. She was not at her most photogenic, especially with the fresh Caesarean scar.

I'd be a lousy trader. I'd end up drunk and cursing every day.

The best blogs are often not the verbose ones, like this one. You probably do have something to say.
David, thank you for that word. "Malevolent" expresses it exactly. I'm genuinely, sincerely shaken up by that portion of it.

I think we have the right to mawl ourselves, although asking WHY we should choose to do so is surely a rational behavior, but I don't think we have the right to mandate that others meekly bow their necks and wait for the sword.

We will have to live by the rules we are trying to create here; it seems to me that this report utterly fails to cope with that reality.

As for dog pictures, you must realize that these are country dogs who are familiar with firearms. If a human raises anything metallic and aims it at them, they take off running. Pictures of the dogs are unobtainable. Pictures of dog butts disappearing into the distance would be low on informational content.
MOM, could it be that you are training Ms. Bullhart to behave in her marshmellowdramatic way by rewarding (with cheese and sausage) her after she has performed the hang dog ceremony? Either way, there's nothing more comically sorrowful than a sad bulldog!

Just got the P+l. The ABS Dept had it's first inventory markdown in several months, or might even be years.
Anniebird - that's why they didn't get their standard after-breakfast treat until after she had given up the drama! Not that I believe it really makes a difference. The dog enjoys drama.

Vet visits are a real trial, because she attempts to get every person in the waiting room on her side. One time I took her for her annual shots, and AFTER we were done I had to wait in the waiting room for the bill and the heartworm meds. A man came over and started crooning at her "Oh, poor little doggie. The vet will help you. Don't worry..."

I finally told him that there was nothing wrong with her, and that we were already done and just waiting for the bill. He ignored me. I looked down to see that she had managed to fold her body into an exceedingly small package and widened her very large eyes in her very large head. To boot, she was shaking and trembling.

Naturally, Mr. Good Guy did not believe me, and in fact he marched back into the clinic to inform the vet that there was a dog in extremis in the waiting room with an exceedingly hardhearted owner who did not seem to care whether the dog lived or died. I asked when I came in the next time.

So the Drama Queen was just doing what she does best - trying to manipulate people.
CF - everyone's starting to run for the exits. Did you see Fitch's watch announcement for Ameriquest? They laid it out pretty clearly.
MOM, I sympathize with your plight. As the doctor in that situation, I never believed the dog over the owner...some of them can offer up performances worthy of Oscar!

MOM- I just did, thanks. It's Dec 9th and guys I'm sure are hoping the thing hold together 3 more weeks so the bonus pools on the street aren't affected. I bought a bunch of Lehman and Goldman CDS at L-12 (3 year tenor) this week. Seems like a cheap option. There are just too maky 40 million dollar bonuses being paid out for the businesses to be solid and prudent. IMHO
Anniebird, it certainly destroys the idea that dogs are not self-conscious. They are. Maybe we should have Dogscar awards.

CF, the idea of "holding it together for three more weeks" is quite depressing. I do believe that's exactly what is going on, though. I expect some fascinating stuff to start rolling through in January. The words "solid and prudent" do not describe the financial decisions we are seeing in many industries and in many financial firms. My nervousness on these derivatives is escalating by the day; I don't believe some of this is going to hold.
I might of mentioned this before, But we did some research on tightening cycles. We went back to 1970, and this is the first major tightening cycle without a Financial Disaster. So far....BOOHAHAHA
But it is tightening, most certainly. I think the "financial disaster" was created by the types of lending done.

If you look at state/regional busts, you see similar incidents.
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