From a Squawk Box next to the CME S+P Pit

This is how it used to be.  Crazy.  If the market was all open outcry, the break would have been much slower-and it may be doubtful that it would have happened at all.  Tip of the hat to zerohedge.com http://www.zerohedge.com/sites/default/files/Market%20Crash.mp3

Snicker Going Around the Floor

Hey, that’s what you get with government employees. They turn millions into billions….. Since Citi is owned by the government now!

This Isn't Sandlot Baseball

Back when I was a little kid, we used to play lots of sandlot baseball.  Sometimes things would happen-a ball would hit a low hanging tree branch-something out of the ordinary.  Someone would shout “Do over”.  Then we’d play it …

Why Would the Dow Plunge Like it Did

Why would the marketDow plunge like it did?  (I have updated this Friday evening, May 7 in italics-information has changed.) Several points.  First, this is happening more and more with the advent of electronic trading.  Electronic programs are not necessarily rational. …

NOVA

Here is a NOVA program on behavioral versus traditional market based Adam Smith notions of economics.  Very interesting. Mind Over Money | NOVA | PBS Video takes about an hour to watch. Some feedback:  First off, the behavioral experiments are …

Figure of the Day-10.6 Billion for Freddie

The CBO reports that by the year 2020, the US taxpayer will have spent 389 Billion bailing out Fannie Mae and Freddie Mac.  Yesterday, Freddie Mac asked for another 10.6 Billion since they lost so much money the last quarter. …

Insider Trading, Washington DC style

Today in the Wall Street Journal, they had an article about insider trading and Congress.  Apparently, Congress wants to go after all insider trading, but not their own.  This doesn’t surprise me, since the Dodd bill does nothing about Fannie …

Why the Euro is Under Pressure

Many people don’t understand why the Eurozone is melting down, and why it cannot work for the long term. Without getting into the politics of the situation, let’s look at it from simply an isolated situation. Greece versus the European …

Now Obama Targets your 401(k)

From Gateway Pundit, the Obama administration is targeting your 401(k) to pay for the bail out of unions. It would act like another layer of social security.  The idea has floated around in hard left circles for a long time. …

Figure of the Day- -225.06, -74.49, -28.66

Over at Nakedtrader.com Tony Laporta called the break. (for the record, I get nothing for the Naked Trader mention, and I have no financial tie to the site) This is the cost of buying a Greek Gyros. I was on …

More on Financial Regulation-the bill they should pass

Republicans are disorganized on legislation. Democrats are starting to become undone. There will be a Financial Reg bill passed in the next few weeks. If there is any positive in an attempted terrorist attack and oil spill, it’s that this …

Pigouvian Taxes

At Greg Mankiw’s blog today, he has a blurb from a reader. I think an excellent Pigouvian tax would be a tax on emails. Many emails involve a negative externality (I don’t really want to receive them) and almost all …

Immigration

The Arizona law on immigration is causing quite a stir among liberals. It’s much ado about nothing-since the Arizona law simply turns Federal crimes into State crimes as well. If anything, it shows that there is a big problem with …

Terrorist attack in NYC

News of the terror attack in Times Square is replacing the oil spill and immigration news.  I am glad that they are finally referring to this as a terrorist attack.  Even if it was a disgruntled American citizen that planted …

The Marriage Saver

http://www.youtube.com/watch?v=bM4eJ38S7Hw&feature=player_embedded I first saw this at thedanzatap.com. Laughed so hard I couldn’t resist posting it.

Obama Affair

There are several ways to take this.  One, the story was planted by the Obama people to get the public’s mind off the gigantic tax raise that they are going to get in 2011.  The Obama brain trust figures evangelical …