It's just amazing that anyone still pays attention to Dobson - or do they?
+
Dobson's distortion of science under attack published Monday, February 26, 2007 http://www.gay.com/news/article.html?2007/02/26/4
While James Dobson's Focus on the Family continues to cherry-pick and distort research on LGBT families, Soulforce and Truth Wins Out are raising the stakes to expose what they call a harmful and alarming disinformation campaign discriminating against American families.
A week after Robynne Sapp and Dotti Berry were arrested as part of Soulforce's new "Focus on the Facts" campaign, Truth Wins Out has launched a new Web site, RespectMyResearch.org.
"Dobson's latest op-ed in Time was the last straw," declared Wayne Besen, executive director of Truth Wins Out. "I called five different mainstream researchers, all of whom were floored that their research was being used to denounce LGBT families."
Dr. Judith Stacey was one of them.
"I've had to spend a lot of time correcting the record," Stacey confirmed. "When Dobson says thousands of studies demonstrate that children do better with a mom and a dad, he is not talking about research that studied gay and lesbian parents. He is talking about children who were raised by two heterosexual parents versus children who were raised by a single heterosexual parent."
All the major medical and professional associations, including the American Psychiatric Association, the American Psychological Association, The American Counseling Association, the National Association of Social Workers, the American Academy of Pediatrics, the American Psychoanalytic Association and the American Academy of Family Physicians, have unequivocally discredited Dobson's claims. ... [more at link]
I often have the dubious pleasure of listening smug liberals whining about their "discomfort" with what they referred to as "Arab culture." There is an amazing phenomenon among Americans, so convinced of our own superiority, that we can be simultaneously ignorant about the world we dominate and yet utterly uninterested in our own history, culture, and society. The shit is about to hit the fan, folks--no more free passes for liberals and so- called "progressives" who prefer either to criticize foreign cultures or confine their domestic ire to the cabal in the White House.
Notwithstanding the innumerable war crimes committed by the neocon thugs, their little enterprise would have come to nothing without the full complicity, not to mention head start, of their "friends across the aisle," the other half of the American War Party.
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What difference does it make, when what passes for journalism is almost exclusively filler to take up the space between the ads.
The Rev. Al Sharpton is a descendant of a slave owned by relatives of the late Sen. Strom Thurmond -- a discovery the civil rights activist called "shocking" on Sunday.
I like it when right wingers complain that all of the country's problems are caused by liberals. While we liberals know that we have no political power, we also know that we do have the power to make right winger's lives miserable by our mere existence. Each time you hear a Nazi complain that it's all "our" fault, just quietly smile and be content with the fact that the Nazi is pissed off... and for the wrong reason, which is even better.
*19 Speakers *Over 50 publishers and book vendors *Panel Discussions *Cafe *Free Bike Valet Parking *Artwork *Kid and Family Space *
Where: San Francisco County Fair Building in Golden Gate Park, near Ninth Avenue and Lincoln Way SAN FRANCISCO, CA
This event is FREE.
The Bay Area Anarchist Bookfair is one of the world's largest gatherings of anarchist and radical literature, and a San Francisco tradition since 1995.
The Bookfair has expanded to two days for 2007!
There will be even more anarchist books, speakers, panelists and political groups from the Bay Area and around the country.
SPEAKERS: Jen Angel, Melody Berger, Chris Carlsson, Ward Churchill, Roxanne Dunbar-Ortiz, Stephen Dunifer, Fly, Aaron Gach, Tiny Garcia, James Kelman, Saul Landau, Josh Macphee, Wendy-o Matik, Keith McHenry, Cindy Milstein, David Solnit, Michelle Tea, James Tracy, Marina Sitrin
PANELS: * Strategies to Uproot War and Empire * IWW Standing Up to the Boss! * The Future of Radical Print Publications * Indigenous Perspectives on Anarchism: Resistance, Solidarity & Paths of Self-Determination * The F-Word Salon * Connecting the Big Picture to the Little Picture * The Future of Independent and Radical Bookselling
Republicans despise being told that they are Nazi's. It drives them right up the wall! For the past six years, they have had a field day, calling us un-American and traitors. Now, I've discovered that they don't like to be called names as well. Anytime a person makes known to me that they're a republican, I quickly say that they're Nazi's. It really makes them mad.
Tom, regarding the "one" bomb a day comment......there are a lot more that go off over there that you don't hear about......the ones that do get reported are the ones that hurt or kill, not the dozens of others that go off around troops or civilians with no real damage.....you should look at the DOD stats of reported explosions instead of just the ones that kill/hurt.
Connect the dots. Cheney goes to Australia, Japan, Pakistan, and Afganistan. What's the next "surprise" location? Who cares? He's getting face-to-face support for his plans to bomb Iran. He's lining up his "allies," his excuses, his propaganda buddies for the coming bombing. This bombing will ignite the powder keg further than Iraq has . . .
Cheney's desperate to keep his minions lined up behind him, he's got enough problems back in the States with renegade Republicans, and the public in general. He's NOT run away from the Libby trial, what a bunch of low-brow thinking that is, and from some of our brighter bloggers, reporters, and pundits. You think Cheney cares about his image? You're crazy. He's been at 19% approval for how long? 3 years?
He follows his own path, and doesn't respond to the superficial gossipy zeitgeist. Get with it, he's the lynchpin in this madness, this crushing drive to fascism and global empire. -- Mark Kuebel, Manhattan
kuebel's got a good point. we seem to be tracking real well to an april war with iran.
cheney is just getting all the ducks in a row. consider that the front page of investors business daily (a must read if you do any investing, despite the fact that its editorial content makes hitler look like a pansy assed liberal) today sports a picture of sailors working with a sidewinder missle somewhere in the persian gulf. the message to the faithful is quite clear...
In most any other Countries you'd find the majority of the population out in force, risking death to prevent their governments from doing wrong.
what planet do you live on? what ever happened to Maslow's Hierarchy of Human Needs? too many people are scratching to get by and survive to take to the streets...
This new blog buggers me up badly. The link on Sam's other site keeps droping me in the same place, and I get bored and leave. I'm working and my attention is pretty much monopolized. I miss der old blog.
..and Dewey makes me sick. Kinda like that dipstick that used to be on Franken.
Anybody with children who harps on about 'voting his pocketbook' is f***ing his kids by default!
Something going on around the country that's not getting any attention on Air America or elsewhere is that the NRA is jamming "Shoot First" legislation down the throats of cowering state legislatures. Law enforcement everywhere is opposing it (because it's a horrible idea). The law just passed the Montana House after being shot down and then resuscitated by the NRA. [URL=http://www.billingsgazette.net/articles/2007/02/26/news/state/28-guns.txt]Billings Gazette[/URL] It's swirling down the porcelain of the North Dakota legislature. [URL=http://www.bismarckdems.com/index.php?option=com_content&task=view&id=602&Itemid=159]BismarckDems.com[/URL]
It's already been enacted in 15 states, including Colorado where they've seen at least one guy who's apparently gotten away with Murder. (See Colorado Springs Gazette, 12/21/2005 article entitled "A Case of Life Or Self Defense: Killer Goes Free Thanks to Shoot First" - the article is no longer available at the Gazette's website, but if you google the title, check out the cached version).
Prosecutors for the International Criminal Court on Tuesday named a former Sudan state interior minister and a militia commander as the first suspects it wants tried for war crimes in Darfur.
Chief prosecutor Luis Moreno-Ocampo asked pre-trial judges to issue summonses for Ahmed Haroun, state interior minister during the height of the Darfur conflict, and militia commander Ali Muhammad Ali Abd-al-Rahman, also known as Ali Kushayb.
Haroun is currently Sudan's state humanitarian affairs minister, a post below the full ministerial level. Ali Kushayb was a commander of the Janjaweed militia, who prosecutors said led attacks on towns and villages, where dozens were killed. Reuters Pictures Photo
Editors Choice: Best pictures from the last 24 hours. View Slideshow
In a 94-page filing, prosecutors said there were reasonable grounds to believe the two bear criminal responsibility in relation to 51 counts of alleged crimes against humanity and war crimes committed against civilians in Darfur in 2003 and 2004. ...
County finds banned gas additive poisoned Southampton man
(02/26/07) SOUTHAMPTON - A Southampton man finally discovered the cause of his illness, only to uncover new, more disturbing questions. Seventy-three-year-old Louis DePasquale suffered through nine years of pain, which he describes as having something eat at his stomach lining. After several doctors failed to diagnose him, a letter last month from the Suffolk County Department of Health informed him his private well, from which he drank all his water, was contaminated with high levels of the now-banned gasoline additive methyl tertiary butyl ether (MTBE). New York's Department of Environmental Conservation installed a water filtration system in DePasquale's basement and is providing bottled water. DePasquale says he feels much better after just days of drinking bottled water. The state has not identified the source of the contamination, though the investigation is ongoing.
A little reality-based analysis from Jewish Voice for Peace Post
The common view that Arafat was solely responsible for the Camp David failure is false, but it is widely believed and that belief has colored the politics of the conflict to this very day. But some alternate versions, where Arafat is held blameless and painted as an innocent victim of American and Israeli machinations are equally false.
Thousands of children swin in the great lakes every summer. How can we let that continue unless Superior and Michigan are both chalked full of 1000 carniverous cold blooded reptiles. Dont you think? All those pythons they keep finding in Florida. No reason they shouldnt be able to traverse the entire North American continet eating every single other creature man or beast smaller than they are
That minister(?-giving him the benefit of the doubt)is evidence that we must do everything to create a better environment because he and others who believe our environment is unaffected by our deeds, are not getting enough oxygen for their brains to function properly.
Looks like Israel will start it if nothing else works. I found this yesterday.
"Meanwhile, on Sunday the Kuwaiti daily al-Siyassah reported that the Gulf states of Oman and the UAE would allow Israel to use their airspace should the Jewish state decide to launch preemptive strikes against Iran. The report quoted European and Arab diplomats.
The newspaper also quoted a Pentagon official said saying that Turkey, Afghanistan and Pakistan would assist Israeli raids on Iran."
Hey, Bush has to cut aid an education for 4-5 years till 2012, but do the Waltons get the big tax cut every year so Bush has to X out different programs every time he does a tax cut?
U.S. stocks plunged today after stocks in China and Europe slumped and investors digested the news that Vice President Dick Cheney was the target of a Taliban suicide bombing attack in Afghanistan. Cheney wasn't hurt. The Dow was down more than 133 at one point. China's stocks fell 9 percent, the worst one-day selloff in a decade.
Sam is right about these right wingers plugging themselves into a talking point machine. I spend a lot of time on a fly fishing forum which has an off topic forum. A right winger on the sight was quick to post that same link by the Tennessee Policy group last night.
So over these last 6 years, and the next two, in none earned income, these real rich people will have been given, 100, 200, billion some may have a trillion dollars of US currency that was taxpayers dollars before Bush on his own decided to give all of the American peoples money to his friends.
And the entire US assets combines are barely what, 20-30 trillion in value in comparrison to any one person of group of people controlling 1/20th or 1/30th the wealth of the total value of the entire United Staes and all of its holdings.
Soooo, why did the BBC report that Buidling & collapsed about 20 minutes before it actually fell and while standing in a live shot of the building still standing behind the woman reporter?
It's about 14 minutes into this. You can look for it on Google but they keep removing it. But here is a link to the actual BBC archives, let's see how long before they censor it there as well.
(You may have to select and right click on the link and select the appropriate menue item to launch in a new window)
Here is devastating news that exposes the Media's cover up and in this case, shows how the BBC was just a little off on their timing when delivering this prepared story. So either the BBC is Psychic or they are LIARS too!
"what ever happened to Maslow's Hierarchy of Human Needs? too many people are scratching to get by and survive to take to the streets..."
You're talking about the middle class. Maslow's hierarchy only works if you're middle class or above.
~~~~~
"Maybe american's haven't hit rock bottom yet."
Ya, things have to get much worse for more people for any sustained protest of the kind they have in other countries to happen in America. But it could happen virtually overnight.
Who act and think they are better than me. Someone who has an automatic they are better than you response. He stole that. That was mine.maybe not, but Im saying it is until then.
The Iraqi cabinet approved a draft of a law on Monday that would set guidelines for nationwide distribution of oil revenues and foreign investment in the immense oil industry. ...
It's a sad state. I work at an NBC affiliate, and yesterday the producer chose the Anna Nicole bullshit as our lead national story while the Libby juror story was going on. "Keep your job, don't say anything."
I wish the Senator or Sam had brought up a pro-business, pro-market reason against repeal of estate tax.
The purpose of the tax is to promote efficient use of capital resources -- that we don't just hand tons of productive capital to "idiot sons." Instead, it encourages those heirs to get off their pool-side butts and compete.
After returning from Iraq in late 2005, Jonathan Schulze spent every day struggling not to fall apart. When a Department of Veterans Affairs clinic turned him away last month, he lost the battle. The 25-year-old Marine from Stewart, Minn., had told his parents that 16 men in his unit had died in two days of battle in Ramadi. At home, he was drinking hard to stave off the nightmares. Though he managed to get a job as a roofer, he was suffering flashbacks and panic attacks so intense that he couldn't concentrate on his work. Sometimes, he heard in his mind the haunting chants of the muezzin—the Muslim call to prayer that he'd heard many times in Iraq. Again and again, he'd relive the moments he was in a Humvee, manning the machine gun, but helpless to save his fellow Marines. "He'd be seeing them in his own mind, standing in front of him," says his stepmother, Marianne. ...
That smoker callers so stupid. Oh yeah, what about Nascar? What about Bar b Ques. Right wingers cook out and tail gate more than anyone on Earth. What about the volcanoes. And who farts more? Didnt some numbnuts right winger go on TV saying, bellowing the dino fart theory last week? Who farts more than big fat basterd steak eating right wingers like Fat basterd Lee Raymond
Soooo, why did the BBC report that Buidling 7 collapsed about 20 minutes before it actually fell and while the woman reporter was standing in a live shot with the building still standing behind her? They refer to WTC7 as the Salomon Brothers building which it was also known as.
It's about 14 minutes into this 41 min clip. It's also been posted on Google Video but they keep removing it.
So here is a link to the actual BBC archives, let's see how long before they censor it there as well.
(You may have to select and right click on the link and select the appropriate menue item to launch in a new window)
So here is devastating news that exposes the Media's cover up and in this case, shows how the BBC was just a little off on their timing when delivering this prepared story. So either the BBC is Psychic or they are LIARS too!
That's basically it. Our station is owned by a company whose stock has basically tanked from day one. They are losing money left and right, and instead of fixing their problems by deflating the salaries made by the higher ups, they squeeze everything they can out of the station workers. Unionization is impossible here, because no one has the balls to join on. A former co-worker and I tried this a few years ago and failed miserably because everyone is so complacent.
Sam is right. There was a huge article in the LA Times this summer about how character actors can't make a living anymore because of the huge salaries demanded by big stars. One example showed that if Julia Roberts [any highly paid actor] accepted $19 million instead of $20 million for a role, the other actors would actually be able to make a living wage. Disgraceful.
"For the U.S. to get involved militarily in determining the outcome over who's going to govern in Iraq strikes me as a classic definition of a quagmire."
OFF WITH HIS HEAD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Bush: 'I'm proud of foreign policy'
11.04, Tue Feb 27 2007
US President George W Bush has again defended his policy in Iraq during a private fundraising reception with the Republican Governors Association.
Mr Bush also re-issued his warning to Congress not to try to cut off funding for troops in Iraq or limit his military options.
He said: "I'm proud of our foreign policy and for the next two years, I will conduct it with all my soul, with all my might, because I believe it's in the best interests of the United States of America.
"Failure in Iraq would invite chaos, would embolden those who would do us harm again."
My friend's spouse is being deployed for 6 months to parts undiclosed, but wherever it is there must be an ocean or sea, because his particular job in the military is exclusive to underwater missions.
thanks. cool, its warmed up enough to get into the yard. Ill be in for a bit longer, then Ill be in and out the rest the day.
People say globe warming might be good. Thats cause they cant stand the winter...sure, but for the wrong reasons. Its not the factor of the season, which is a neccessary part of some ecosystems(the resting and shedding of old). But its the Calander shift of the colder weather patterns that are bothering people and the effect is lasting like a decade long dordrums. Remember the winter doldrums? Well its not in Winter cause the cold didnt come in November , move to a super snowy white Christmas December. Into a shitty January and then ah its warming up now. It was weird and warm in Nov, Dec in went down a little bit(Im speaking broadly on average, I know some people got snowed but its not the whole country in an even blanket like 20 years ago), then January all matter cold hells was unleashed into the beginning of this month and ow its warming. And people dont know if its secure. The ground hog always, ALWAYS sees his shadow, except once in every 6-8 yars for instance. Sounds stupid but over the years you tend to notice when that furry little fucker is going to doom us too more snow and grey skys with his little shpeel. So he didnt see it, we have El Nino and Nor Easters trying to set up. So its like Even when its now, and warming, we dont know if winter will ever end cause its like it never really started YET still happend! ...AAAAAAAAAGHHHHHH!!!!
French teenager becomes 4th victim of Saudi attack
RIYADH (Reuters) - A French teenager died from bullet wounds on Tuesday, bringing to four the number of victims from a militant attack in Saudi Arabia on a group of French tourists in which the males were singled out and shot.
The boy's father was among three French expatriates working in Saudi Arabia who were killed during a desert trip on Monday in what appeared to be the first attack by suspected al Qaeda militants on foreigners in three years.
A group of nine French nationals living in Riyadh had been visiting historic sites and camping in the desert in the scenic western region of the vast country.
An acquaintance who did not want to be named said the men were machine-gunned in front of the women and children in the group, confirming a report from a security source.
Before it's too late for Western Europe and the United States, which gave birth to the traditions of freedom and equality of rights for all that shine today as lights in the entire world, this must be stopped. Therefore Dhimmi Watch seeks to bring public attention to:
* The plight of the dhimmis, an immense but almost completely ignored ongoing scandal that continues in Muslim countries today; * The plight of women under Sharia provisions, similar to conditions imposed on dhimmis, in the denial of equal rights and dignity; * Slavery in Islamic lands, which continues today, justified by Sharia-'s dhimmi codes; * The integral role of jihad and dhimmitude ideology in global terrorism today; * The license that academic and journalistic whitewashes of dhimmitude gives to radical jihadist enemies of human rights for all.
It was done on the Simpsons, one of those episodes that speculates on the future. Marge rolls over next to Homer and says, "Fox became a hard core porn channel so gradually, I barely noticed."
that 200 year sentence for the child porn seems a little excessive as nasty as the crime is. reminds me of when simple marijuana possession would get you life in texas.
isn't there a place in asia where they execute you first and ask questions later?
It was done on the Simpsons, one of those episodes that speculates on the future. Marge rolls over next to Homer and says, "Fox became a hard core porn channel so gradually, I barely noticed."
WASHINGTON - Rushed by President Bush's decision to reinforce Baghdad with thousands more U.S. troops, two Army combat brigades are skipping their usual session at the Army's premier training range in California and instead are making final preparations at their home bases.
Some in Congress and others outside the Army are beginning to question the switch, which is not widely known. They wonder whether it means the Army is cutting corners in preparing soldiers for combat, since they are forgoing training in a desert setting that was designed specially to prepare them for the challenges of Iraq.
Iranian Scholars Denounce Conference That Denied Holocaust
TEHRAN, Feb. 26 — A group of Iranian academics, writers and artists has denounced the Holocaust conference held in Tehran late last year, calling it a move that endangered peace and hurt the reputation of Iranian academics.
The Iranian government organized a two-day gathering in December, billed it as a legitimate conference on the historical record and invited notorious Holocaust deniers and white supremacists from around the world. Among those from the United States was the former Ku Klux Klan leader David Duke.
* Chalmers Johnson: ³Nemesis: The Last Days of the American Republic" *
In his new book, CIA analyst, distinguished scholar, and best-selling author Chalmers Johnson argues that US military and economic overreach may actually lead to the nation's collapse as a constitutional republic. It's the last volume in his Blowback trilogy, following the best-selling "Blowback" and "The Sorrows of Empire." In those two, Johnson argued American clandestine and military activity has led to un-intended, but direct disaster here in the United States.
"too many people are scratching to get by and survive to take to the streets..."
Still thinking about this. I would say that many middle class people are scratching to get by and survive, leaving no time for the kind of organization that leads to significant political pressure for social change. But enough middle class lose their shirts, and that's when you'll see them take to the streets.
There's a happy medium... you want to keep them struggling, but not too poor.
Yesterday Maurice, I believe, made the point that it is the responsibility of Americans, not to seek out objective information, but act on that information once we know it. It is our responsibility to act. Complacency, carelessness, and the resulting silence is in effect the condoning of this administration’s goal of perpetual warfare. Instead, join the Project: http://vcnv.org/project/the-occupation-project
Sam, just as you finished discussing Dewey"s call about Al Gore's "outrageous" electric bill I immediately switched over to Rush to hear the topic for the day.
He was just segueing from a discussion of Gore's "mansion" to how earth-friendly the idiot's ranch house is at Crawford.
Of course he supplied no specifics on it, just raved about how far ahead of the curve The Shrub was.
Funny how we never hear anything from the White House about it, isn't it. Tom
Obama gave a great speech in Austin. He wants our troops to start coming home MAY of THIS YEAR...he wants an end to this war and he is not afraid to say it!
I hope you go to see him when he comes to New York in March. I think you will be inspired. I was supporting Gore but I read Obama's books and I am convinced he can change this country for the better. He even took a jab at the oil companies and he says our country can switch to alternative fuels like Brazil did.
I'd trust your a personal review...I hope you go listen to him.
Much Love
Dar in Bellingham
Anyone interested in tickets for either fund raising event with Barack Obama on March 9th in NYC at the Grand Hyatt now have an OFFICIAL contact that you can call or email.... Arthur Leopold (full time member Obama campaign staff )
arthurleopold@yahoo.com
212-593-0025
917-359-3920
Everyone in the NY metro area should want to be at one of the two events. They will be remembered as a major moment in the campaign when Barack proves New York does not belong to Hillary !
(you can click on my name to go listen to the Austim Speech if you want)
Alice said... * Chalmers Johnson: ³Nemesis: The Last Days of the American Republic" *
In his new book, CIA analyst, distinguished scholar, and best-selling author Chalmers Johnson argues that US military and economic overreach may actually lead to the nation's collapse as a constitutional republic. It's the last volume in his Blowback trilogy, following the best-selling "Blowback" and "The Sorrows of Empire." In those two, Johnson argued American clandestine and military activity has led to un-intended, but direct disaster here in the United States.
"..Johnson's is a biting, often effective indictment of some ugly and troubling features of America's foreign policy and domestic politics. But his doom-laden trope of empire ("the capacity for things to get worse is limitless.... the American republic may be coming to its end") seems overstated. With Bush a lame duck, not a Caesar, and his military adventures repudiated by the electorate, the Republic seems more robust than Johnson allows."
I couldn't disagree more. Listen to frontrunners McCain and H. Clinton's speeches about Iraq. They are basically much more intelligent versions of monkey-man.
This is why I say everyone should have enjoyed the Oscars and not whined about the need for another politician to introduce "a new way forward for victory of freedom" or whatever nonsensical, tortured b.s. the morons phrase it as.
It's the biggest drop since the Monday after 9/11!
And these sweaty losers are saying it's a market correction. And then shortly after that time worn euphemism, did you notice they said it will drop further?
They said that part kinda quietly.
And the good news is... it's actually Cheney's fault!
The financial world has lost confidence in America.. or at least the part that really matters ... their Fiduciary Trust!
vandalized since originally introduced to Sederites, but still poking Sam, Randi, and the "affiliates"
~~~~~~~~~
I haven't had a chance to really work on that page, but I have some great ideas lined up... just wait, when I'm done with it, you wont even recognize it.
Oh, and thanks for the introduction, Mr. Coward. *smiles*
True. But I like blaming Cheney. He has a lot to do with it.
Ha!
Halliburton's stock dropped 3.7% today. I think they announced a split yesterday, however ... I'll have to check... nice timing if they did ... a little too nice.
They are all sweatin' it because, no matter how you slice it it's not good news for broker/dealers.
I was completely turned off by Fox News Channel when Brenda Buttner kept yapping about the 'Kerry Crash', which would happen if John Kerry was elected.
Well welcome to the Dubya Depression. So what is going to happen to all that US debt to China when China is going to go through it's own downturn? They're letting the steam out of the Chinese markets right now.
U.S. Stocks Plunge in Global Rout; Dow, S&P 500 Erase '07 Gains
By Eric Martin
Feb. 27 (Bloomberg) -- U.S. stocks plunged, wiping out about $600 billion in market value and erasing all of 2007's gains, after a selloff in China spread globally and sparked the biggest rout in four years.
The Dow Jones Industrial Average fell as much as 546 points, the most since the first trading day after the Sept. 11, 2001, terrorist attacks. All but two companies in the Standard & Poor's 500 Index declined.
``This is a fairly violent selloff,'' said Russ Koesterich, a portfolio manager at Barclays Global Investors in San Francisco, which has $1.7 trillion in assets.
The worldwide tumble was sparked by China's plan to clamp down on illegal stock market investments. Chinese stocks slumped the most in a decade, while Europe's Dow Jones Stoxx 600 Index dropped 3 percent and emerging markets sank. Russian shares slid from an all-time high; Brazil's Bovespa Index lost 6.6 percent.
U.S. Treasuries rose on increased demand for debt securities amid the worldwide equity slump and signs of a slowing economy after durable-goods orders fell more than forecast in January.
The plunge in China ``exposed the fact that there are problems developing,'' said Jim Rogers, who co-founded the Quantum hedge fund with George Soros in the 1970s. ``When you have major stock declines, they always start in marginal countries, sectors and companies.''
The Dow average sank 416.02, or 3.3 percent, to 12,216.24. The S&P 500 retreated 50.33, or 3.5 percent, to 1399.04. The Nasdaq Composite Index dropped 96.66, or 3.9 percent, to 2407.86.
With an hour left before the close of exchanges, trading terminals showed the Dow average dropped 178 points in a single minute. Dow Jones & Co., which oversees the measure, later attributed the decline to a technical problems with its data servers.
At one point, losses in the Dow and S&P 500 were the steepest since September 2002, a month before the last bear market ended. By the close, they posted their biggest declines since March 2003. For the Nasdaq, it marked the worst one-day performance since December 2002.
The Dow average today ended its longest streak in at least a century without a one-day drop of at least 2 percent, according to data compiled by Birinyi Associates Inc. and Bloomberg News. The last time the Dow fell that much was May 19, 2003, according to Birinyi.
China's government approved a special task force to clamp down on illegal share offerings and investments with borrowed money after indexes climbed to records. The Shanghai and Shenzhen 300 Index dropped 9.2 percent, wiping out $107.8 billion from a stock market that doubled in the past year.
Today's plunge also comes on the heels of a record-breaking U.S. rally, fueled in part by the two biggest leveraged buyouts in history. TXU Corp. yesterday agreed to be acquired by private equity firms for $45 billion. Equity Office Properties Trust was sold to Blackstone Group LP for $39 billion on Feb. 7. The Dow average closed at an all-time high last week, while the S&P 500 and Nasdaq reached six-year highs.
``Things just got a little overheated in the U.S. investment scene and it needs to calm down a little bit,'' said John Kattar, who oversees $1.8 billion as chief investment officer at Eastern Investment Advisors in Boston. ``A lot of the frothiness of the private equity deals should subside now.''
"Investors were also spooked by comments Monday from former Federal Reserve Chairman Alan Greenspan, who said a recession in the U.S. was "possible" later this year."
A measure of raw-materials producers slumped 4.2 percent for the worst performance among 10 industry groups in the S&P 500 on concern China's appetite for imported goods will wane at a time when slower manufacturing restrains U.S. growth.
Alcoa Inc., the world's biggest aluminum producer, tumbled $1.57 to $33.79. China is the leading consumer of the metal. Copper miner Freeport-McMoRan Copper & Gold Inc. fell $6.17 to $55.75 on expectations of decreased demand from China, also the biggest user of that metal. The stock's 10 percent retreat was the sharpest in the S&P 500.
Caterpillar Inc., the largest maker of earthmoving equipment, fell $2.43 to $64.83.
I just want to point out that although people may think "what's the big deal? the stocks fell only about 3.5%", this is a very big deal to some companies.
They can't go borrow, or buy other companies when their stock value has decreased.
It's kinda like a mortgage. If you have a house that you owe about $485,000 on and it was worth about $500,000 yesterday; you also have some outstanding debt that you expected you could pay off using some money you could get refinancing. Well, overnight your house just lost $17,500 in value.
OK .. well not the best analogy, but ... your plans are seriously altered.
So too are the plans of some of these companies. And if they carry a lot of debt... oh well.
Back in September 2006, investor Robert Shu prophetically wrote:
I’m writing to you from China—with an urgent warning.
Whether I’m looking out of my hotel room in Beijing or attending private meetings in windowless offices…whether I’m buying crab dumplings at a local Shanghai restaurant or hailing a taxi…
…you can smell it.
More than the smell of diesel, cooking oil and sweat, you can smell the sickly-sweet smell of too much money.
The forest of cranes I watched from my hotel room in Beijing, for example, belong to CCCG (short for China Communication Construction Group). Right now, CCCG is readying an IPO in Hong Kong valued at nearly $2 billion. Merrill Lynch and many other Wall Street big-wigs have pledged to push the deal—and make sure everyone gets rich.
Everyone except the investor, that is. As I watched those cranes swing and lift ceaselessly through the night, I sketched a mental picture of the money river that these massive projects represent.
From the trickle that goes to the kids who balance on girders 40 stories up, to the kickbacks the site foreman receives, to the suitcase-sized payoffs the mayor and bankers receive, to the great torrent of money that goes to the government agents and Party bosses, I could see in my mind’s eye the river of money flowing through China.
And then a Beijing boss says, Why don’t we get even MORE money. Let’s do an IPO! What a hoax. Billions will be lost, and the average U.S. investor will swear off China stocks for a decade. And the life-changing fortunes that they could have made will pass them by.
It’s a story that many Americans will recognize, of course. Enron and Adelphia, Global Crossing and Kmart, Worldcom and Kaiser Aluminum all went bust too—and left a trail of ruin. And, of course, we know great things can get done with all this money. Railways are laid, dams built and TVs get churned out. But also--from Atlanta to Alaska we know this--all that wealth, without a jot of accountability, well, it's a powerful drug.
Brokerages extended their losses to a fifth day as a pullback in global equities threatens their earnings prospects, which have already been hurt by an increase in mortgage defaults.
Goldman Sachs Group Inc., the biggest securities firm by market value, declined $18 to $196. Lehman Brothers Holdings Inc., the fourth biggest U.S. securities firm, dropped $3.64 to $74.19, while Morgan Stanley, the No. 2, fell $4.39 to $74.13.
China's stock market drop is a concern because U.S. securities firms have become more reliant on growth in international markets, including Asia. At the same time, the weakening U.S. home loan market will reduce brokers' revenue from underwriting securities backed by mortgages.
``Anything disrupting the free flow of global capital in an increasingly international setting is going to upset investors,'' said Leo Grohowski, who helps oversee $100 billion as chief investment officer at U.S. Trust Corp. in New York.
The Commerce Department said orders placed with U.S. factories for durable goods slumped 7.8 percent following a 2.8 percent gain in December. Orders excluding transportation equipment slid 3.1 percent.
The figures suggest reluctance among companies to invest has carried into 2007. Bloated stockpiles at auto dealers and construction-equipment makers may restrain production early this year, Federal Reserve Chairman Ben S. Bernanke told Congress this month.
``With some potential signs of cracks, be it China or the durable goods orders, this might be setting us up for a cooling or a pullback in the market,'' said Jason Cooper, who helps manage $2.5 billion at 1st Source Investment Advisors in South Bend, Indiana. ``I'm much more bearish than bullish right now.''
Qualcomm Inc., the world's second-biggest maker of chips that run mobile phones, lost $2.40 to $40.25. Chief Executive Officer Paul Jacobs last year said the company expects a ``huge market'' for advanced devices in China. International Business Machines Corp., which owns about an 11 percent stake in China's Lenovo Group Ltd., dropped $2.95 to $93.96.
Back in September 2006, investor Robert Shu prophetically wrote:
I’m writing to you from China—with an urgent warning.
Whether I’m looking out of my hotel room in Beijing or attending private meetings in windowless offices…whether I’m buying crab dumplings at a local Shanghai restaurant or hailing a taxi…
…you can smell it.
More than the smell of diesel, cooking oil and sweat, you can smell the sickly-sweet smell of too much money.
Crude oil rose to the highest close this year on speculation U.S. fuel inventories declined because refineries are repairing units.
Gasoline supplies fell 1.5 million barrels in the week ended Feb. 23, according to the median of forecasts by 15 analysts before an Energy Department report tomorrow. Stockpiles of distillate fuel, including heating oil and diesel, dropped 2.6 million barrels. In February and March refiners perform maintenance and start maximizing gasoline output.
Crude oil for April delivery rose 7 cents to $61.46 a barrel on the New York Mercantile Exchange, the highest close since Dec. 22. Futures touched $62.25, the highest intraday price since Dec. 26. Prices are up 0.8 percent from a year ago.
Gold prices dropped as the plunge in equities prompted investors to bail out of precious metals.
really weird. That article off of Bloomberg is ... GONE. Replaced by a similar article ... but not with the same salient points at all... it MUST be there... right?
Dow Jones Says Computer Problem Accelerated Stock Average's Afternoon Drop Dow Jones & Co. said its computers were responsible for the sudden drop in the Dow Jones Industrial Average about an hour before the close of trading today because they failed to keep up with stock trades. The New York Stock Exchange and Nasdaq Stock Market Inc. also reported problems.
Economists Say Greenspan's Recession Prognostication Sounds About Right Economists say Alan Greenspan has it about right: A U.S. recession is possible, though unlikely.
384 comments:
1 – 200 of 384 Newer› Newest»Good morning!
WHAT IS WRONG WITH MRR BLOG?
IT CANT BE BROKEN FOR THIS LONG.
DOES SAM NOT WANT TO PAY FOR IT ANYMORE?
DOES SAM ONLY PAY FOR SMALL BIT OF SUPPORT , THAT HAS BEEN EXCEDED IN FEBRUARY, AND HE HAS TO WAIT FOR MARCH TO START AGAIN?
MRR NEEDS TO HAVE A BLOG WITH A MORE PROFESSIONAL SEAMLESS DISCUSSION FORUM.
THIS IS A DISGRACE.
I'm glad that Sam is a non-conformist in this regard.
Hiya Sam and bloggers!
It's just amazing that anyone still pays attention to Dobson - or do they?
+
Dobson's distortion of science under attack
published Monday, February 26, 2007
http://www.gay.com/news/article.html?2007/02/26/4
While James Dobson's Focus on the Family continues to cherry-pick and distort research on LGBT families, Soulforce and Truth Wins Out are raising the stakes to expose what they call a harmful and alarming disinformation campaign discriminating against American families.
A week after Robynne Sapp and Dotti Berry were arrested as part of Soulforce's new "Focus on the Facts" campaign, Truth Wins Out has launched a new Web site, RespectMyResearch.org.
"Dobson's latest op-ed in Time was the last straw," declared Wayne Besen, executive director of Truth Wins Out. "I called five different mainstream researchers, all of whom were floored that their research was being used to denounce LGBT families."
Dr. Judith Stacey was one of them.
"I've had to spend a lot of time correcting the record," Stacey confirmed. "When Dobson says thousands of studies demonstrate that children do better with a mom and a dad, he is not talking about research that studied gay and lesbian parents. He is talking about children who were raised by two heterosexual parents versus children who were raised by a single heterosexual parent."
All the major medical and professional associations, including the American Psychiatric Association, the American Psychological Association, The American Counseling Association, the National Association of Social Workers, the American Academy of Pediatrics, the American Psychoanalytic Association and the American Academy of Family Physicians, have unequivocally discredited Dobson's claims. ... [more at link]
==
RonNLC
G'morning, campers.
SEDER, please change the link in the blue box on the mother blog so it links to the home page here.
Americans' refusal to look in the mirror presages our own demise
I often have the dubious pleasure of listening smug liberals whining about their "discomfort" with what they referred to as "Arab culture." There is an amazing phenomenon among Americans, so convinced of our own superiority, that we can be simultaneously ignorant about the world we dominate and yet utterly uninterested in our own history, culture, and society. The shit is about to hit the fan, folks--no more free passes for liberals and so- called "progressives" who prefer either to criticize foreign cultures or confine their domestic ire to the cabal in the White House.
Notwithstanding the innumerable war crimes committed by the neocon thugs, their little enterprise would have come to nothing without the full complicity, not to mention head start, of their "friends across the aisle," the other half of the American War Party.
-
What difference does it make, when what passes for journalism is almost exclusively filler to take up the space between the ads.
http://www.snoopstick.com/
sam,
good get w/ Glenn Greenwald...great interview, keep up the good work!!
Sam,
what do you make of Josh Marshall's post today that the WH doesn't even know what war its fighting...
http://www.cnn.com/2007/US/02/25/sharpton.thurmond.ap/index.html?eref=rss_topstories
The Rev. Al Sharpton is a descendant of a slave owned by relatives of the late Sen. Strom Thurmond -- a discovery the civil rights activist called "shocking" on Sunday.
I like it when right wingers complain that all of the country's problems are caused by liberals. While we liberals know that we have no political power, we also know that we do have the power to make right winger's lives miserable by our mere existence. Each time you hear a Nazi complain that it's all "our" fault, just quietly smile and be content with the fact that
the Nazi is pissed off...
and for the wrong reason, which is even better.
Both wingers have only their own interests in mind.
Someday Sam Seder might notice that.
ohhhhhhh smack!!
A later AP story says up to 23 dead in the blast near Cheney in Bagram.
www.bayareaanarchistbookfair.org
March 17 & 18: Bay Area Anarchist Bookfair
SATURDAY, March 17, 10am-6pm
SUNDAY, March 18, 11am-5pm
*19 Speakers *Over 50 publishers and book vendors *Panel Discussions *Cafe *Free Bike Valet Parking *Artwork *Kid and Family Space *
Where: San Francisco County Fair Building in Golden
Gate Park, near Ninth Avenue and Lincoln Way
SAN FRANCISCO, CA
This event is FREE.
The Bay Area Anarchist Bookfair is one of the world's largest gatherings of anarchist and radical
literature, and a San Francisco tradition since 1995.
The Bookfair has expanded to two days for 2007!
There will be even more anarchist books, speakers, panelists and political groups from the Bay Area and around the country.
SPEAKERS: Jen Angel, Melody Berger, Chris Carlsson, Ward Churchill, Roxanne Dunbar-Ortiz, Stephen Dunifer, Fly, Aaron Gach, Tiny Garcia, James Kelman, Saul Landau, Josh Macphee, Wendy-o Matik, Keith McHenry, Cindy Milstein, David Solnit, Michelle Tea, James Tracy, Marina Sitrin
PANELS:
* Strategies to Uproot War and Empire
* IWW Standing Up to the Boss!
* The Future of Radical Print Publications
* Indigenous Perspectives on Anarchism: Resistance,
Solidarity & Paths of Self-Determination
* The F-Word Salon
* Connecting the Big Picture to the Little Picture
* The Future of Independent and Radical Bookselling
Everyone is invited!
looks like black tuesday is finally here. market is in free fall. must be those liberals...
Republicans despise being told that they are Nazi's. It drives them right up the wall! For the past six years, they have had a field day, calling us un-American and traitors. Now, I've discovered that they don't like to be called names as well. Anytime a person makes known to me that they're a
republican, I quickly say that they're Nazi's. It really makes them mad.
Godwin's Law (also known as Godwin's Rule of Nazi Analogies) is a mainstay of Internet culture, an adage formulated by Mike Godwin in 1990.
The law states: "As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches one."
Tom, regarding the "one" bomb a day comment......there are a lot more that go off over there that you don't hear about......the ones that do get reported are the ones that hurt or kill, not the dozens of others that go off around troops or civilians with no real damage.....you should look at the DOD stats of reported explosions instead of just the ones that kill/hurt.
Connect the dots. Cheney goes to Australia, Japan, Pakistan, and Afganistan. What's the next "surprise" location? Who cares? He's getting face-to-face support for his plans to bomb Iran. He's lining up his "allies," his excuses, his propaganda buddies for the coming bombing. This bombing will ignite the powder keg further than Iraq has . . .
Cheney's desperate to keep his minions lined up behind him, he's got enough problems back in the States with renegade Republicans, and the public in general. He's NOT run away from the Libby trial, what a bunch of low-brow thinking that is, and from some of our brighter bloggers, reporters, and pundits. You think Cheney cares about his image? You're crazy. He's been at 19% approval for how long? 3 years?
He follows his own path, and doesn't respond to the superficial gossipy zeitgeist. Get with it, he's the lynchpin in this madness, this crushing drive to fascism and global empire. -- Mark Kuebel, Manhattan
Congress has too much money to care about people who don't.
They're OWNED.
It's usually the black women in Congress doing what's right.
Cheney would look hot blown into pieces of chunky bloody flesh.
kuebel's got a good point. we seem to be tracking real well to an april war with iran.
cheney is just getting all the ducks in a row. consider that the front page of investors business daily (a must read if you do any investing, despite the fact that its editorial content makes hitler look like a pansy assed liberal) today sports a picture of sailors working with a sidewinder missle somewhere in the persian gulf. the message to the faithful is quite clear...
In most any other Countries you'd find the majority of the population out in force, risking death to prevent their governments from doing wrong.
Paul Is Not Dead said...
In most any other Countries you'd find the majority of the population out in force, risking death to prevent their governments from doing wrong.
what planet do you live on? what ever happened to Maslow's Hierarchy of Human Needs? too many people are scratching to get by and survive to take to the streets...
Here's the story that Dewey is talking about:
http://www.tennesseepolicy.org/main/article.php?article_id=367
too many people are scratching to get by and survive to take to the streets...
///////////////////////////////
Yeah, they need to be healthier and better fed, like the French were when they began cutting off heads,
Who is this dooshbag on the phone?
What an utter lack of basic reasoning skills.
Pray to the carbon footprint totem!
Bwahahhhahahahaha!!!!!
too many people are scratching to get by and survive to take to the streets...
People should just stop complaining and stop making a living complaining.
dewey, dewey, dewey
just pay up and get on with your life.
The people in Oaxaca and other places South hit rock bottom & then revolt.
Maybe american's haven't hit rock bottom yet.
Thanks Dude!
Dewey is a wool-dyed asshat.
Do you know why you don't have diarrhea, Dewey?
Sam is on fire today!!!
As always...
Miss Bibi! :)
Good Morn...
morning gang!
Dewey is too easy Sam.
Miss Bibi! :)
Good Morn...
February 27, 2007 7:18 AM
Alice, chica!
This new blog buggers me up badly. The link on Sam's other site keeps droping me in the same place, and I get bored and leave. I'm working and my attention is pretty much monopolized. I miss der old blog.
..and Dewey makes me sick. Kinda like that dipstick that used to be on Franken.
Anybody with children who harps on about 'voting his pocketbook' is f***ing his kids by default!
i'd like to have Bernie discuss the people behind Cheney.
Josh Wolf
Something going on around the country that's not getting any attention on Air America or elsewhere is that the NRA is jamming "Shoot First" legislation down the throats of cowering state legislatures. Law enforcement everywhere is opposing it (because it's a horrible idea). The law just passed the Montana House after being shot down and then resuscitated by the NRA. [URL=http://www.billingsgazette.net/articles/2007/02/26/news/state/28-guns.txt]Billings Gazette[/URL] It's swirling down the porcelain of the North Dakota legislature. [URL=http://www.bismarckdems.com/index.php?option=com_content&task=view&id=602&Itemid=159]BismarckDems.com[/URL]
It's already been enacted in 15 states, including Colorado where they've seen at least one guy who's apparently gotten away with Murder. (See Colorado Springs Gazette, 12/21/2005 article entitled "A Case of Life Or Self Defense: Killer Goes Free Thanks to Shoot First" - the article is no longer available at the Gazette's website, but if you google the title, check out the cached version).
ICC names first war crimes suspects in Darfur
Prosecutors for the International Criminal Court on Tuesday named a former Sudan state interior minister and a militia commander as the first suspects it wants tried for war crimes in Darfur.
Chief prosecutor Luis Moreno-Ocampo asked pre-trial judges to issue summonses for Ahmed Haroun, state interior minister during the height of the Darfur conflict, and militia commander Ali Muhammad Ali Abd-al-Rahman, also known as Ali Kushayb.
Haroun is currently Sudan's state humanitarian affairs minister, a post below the full ministerial level. Ali Kushayb was a commander of the Janjaweed militia, who prosecutors said led attacks on towns and villages, where dozens were killed.
Reuters Pictures
Photo
Editors Choice: Best pictures
from the last 24 hours.
View Slideshow
In a 94-page filing, prosecutors said there were reasonable grounds to believe the two bear criminal responsibility in relation to 51 counts of alleged crimes against humanity and war crimes committed against civilians in Darfur in 2003 and 2004.
...
Sorry..I forgot to cut part of that out..
*
-monopolized. I miss der old blog-
Me too.
News 12 Long Island
County finds banned gas additive poisoned Southampton man
(02/26/07) SOUTHAMPTON - A Southampton man finally discovered the cause of his illness, only to uncover new, more disturbing questions.
Seventy-three-year-old Louis DePasquale suffered through nine years of pain, which he describes as having something eat at his stomach lining. After several doctors failed to diagnose him, a letter last month from the Suffolk County Department of Health informed him his private well, from which he drank all his water, was contaminated with high levels of the now-banned gasoline additive methyl tertiary butyl ether (MTBE).
New York's Department of Environmental Conservation installed a water filtration system in DePasquale's basement and is providing bottled water. DePasquale says he feels much better after just days of drinking bottled water. The state has not identified the source of the contamination, though the investigation is ongoing.
Morning everyone. You too Sam. :)
A little reality-based analysis from Jewish Voice for Peace Post
The common view that Arafat was solely responsible for the Camp David failure is false, but it is widely believed and that belief has colored the politics of the conflict to this very day. But some alternate versions, where Arafat is held blameless and painted as an innocent victim of American and Israeli machinations are equally false.
http://www.alternet.org/blogs/peek/48512/
SATAN'S IN YER LOINS!!!!!!!!1
Global warming could be a good thing. I mean, there arent enough Everglade crocadiles in the Great Lakes and Hudson Bay as far as Im concerned.
Global Warming = South Beach for everyone!
Thousands of children swin in the great lakes every summer. How can we let that continue unless Superior and Michigan are both chalked full of 1000 carniverous cold blooded reptiles. Dont you think? All those pythons they keep finding in Florida. No reason they shouldnt be able to traverse the entire North American continet eating every single other creature man or beast smaller than they are
That minister(?-giving him the benefit of the doubt)is evidence that we must do everything to create a better environment because he and others who believe our environment is unaffected by our deeds, are not getting enough oxygen for their brains to function properly.
When there is a true liberal in the White House....
When people are flocking to night clubs to hear live jazz....
When the Cleveland Indians win the World Series...
When pot is legal for adults to smoke...
I will become a believer!
Looks like Israel will start it if nothing else works. I found this yesterday.
"Meanwhile, on Sunday the Kuwaiti daily al-Siyassah reported that the Gulf states of Oman and the UAE would allow Israel to use their airspace should the Jewish state decide to launch preemptive strikes against Iran. The report quoted European and Arab diplomats.
The newspaper also quoted a Pentagon official said saying that Turkey, Afghanistan and Pakistan would assist Israeli raids on Iran."
Israel Insider
Israel's daily newsmagazine
http://web.israelinsider.com/Articles/Security/10773.htm
Hey, Bush has to cut aid an education for 4-5 years till 2012, but do the Waltons get the big tax cut every year so Bush has to X out different programs every time he does a tax cut?
Dow tumbles after China selloff
U.S. stocks plunged today after stocks in China and Europe slumped and investors digested the news that Vice President Dick Cheney was the target of a Taliban suicide bombing attack in Afghanistan. Cheney wasn't hurt. The Dow was down more than 133 at one point. China's stocks fell 9 percent, the worst one-day selloff in a decade.
Sam is right about these right wingers plugging themselves into a talking point machine. I spend a lot of time on a fly fishing forum which has an off topic forum. A right winger on the sight was quick to post that same link by the Tennessee Policy group last night.
So not only is it uneven, but taxcutsd are, its puposefully meant to kill other programs.
Cuddles said...
February 27, 2007 7:48 AM
When Al Gore's mansion is solar-powered....
or John Edwards' is the "standard" for "BOTH Americas".
So over these last 6 years, and the next two, in none earned income, these real rich people will have been given, 100, 200, billion some may have a trillion dollars of US currency that was taxpayers dollars before Bush on his own decided to give all of the American peoples money to his friends.
Bernie is such a good listen.
funniest part of this whole mess ia the people who are getting ripped off who support this currupt administration.
And the entire US assets combines are barely what, 20-30 trillion in value in comparrison to any one person of group of people controlling 1/20th or 1/30th the wealth of the total value of the entire United Staes and all of its holdings.
Cuddles, you are in for a long wait!
The Cleveland Indians will NEVER win the World Series!
Hi Jim!
Really good segment with Sanders! Boy howdy, he cuts through the lies and crap fast!
Just in case anyone missed it:
U.S. economy leaving record numbers in severe poverty by Tony Pugh for McClatchy Newspapers.
eya Reefer Jello!
coffee!
i need more coffee!
good posts upthread, cheney planning another 'control' war...
i'm working on a few projects
life is good
daniel;
i like the cut o' yer jib.
let's put all the social programs in the Great Lakes along with our kids to be eaten by cold-blooded reptiles, or Cheneys as I like to call 'em.
23 people dead thanks to a "surprise" Cheney visit.
Way to go, Cheney... We're winning! You betchya!
I hope you soiled yer shorts, ya friggin' asshat.
Hey guys check this out... http://www.conservapedia.com/
the global warming article is quite funny
http://www.conservapedia.com/Global_warming
the page takes a while to load, give it time.
eya catchoo!
one step at a time.
Be a lazy bastard like me, play the Wii for a few hours, then see how you feel the next day. *sore*
hey web geek,
market is starting to recover. one can only wonder how much impact that attack in afghanistan had on this...
Soooo, why did the BBC report that Buidling & collapsed about 20 minutes before it actually fell and while standing in a live shot of the building still standing behind the woman reporter?
It's about 14 minutes into this. You can look for it on Google but they keep removing it. But here is a link to the actual BBC archives, let's see how long before they censor it there as well.
http://ia311517.us.archive.org/2/items/bbc200109111654-1736/V08591-16.mpg
(You may have to select and right click on the link and select the appropriate menue item to launch in a new window)
Here is devastating news that exposes the Media's cover up and in this case, shows how the BBC was just a little off on their timing when delivering this prepared story. So either the BBC is Psychic or they are LIARS too!
Gibson, there's a war on, moron.
G'morning, Jim.
Mmmm, the miracle of coffee!
Later...
Fox News Porn Channel
That's frikkin' synergy!
Hey Sam...Jinx.
Big John Holmesgibson
Ps. I will take you at Wii boxing anytime. Bring it, any one, lets go.
Thats what they should be doing, is counting and keeping track of these instances. Id respect the media more if they were more, self policing.
"what ever happened to Maslow's Hierarchy of Human Needs? too many people are scratching to get by and survive to take to the streets..."
You're talking about the middle class. Maslow's hierarchy only works if you're middle class or above.
~~~~~
"Maybe american's haven't hit rock bottom yet."
Ya, things have to get much worse for more people for any sustained protest of the kind they have in other countries to happen in America. But it could happen virtually overnight.
these clips about media whores are the least interesting parts of the program.
waste of time really, on to issues and new thinking!
And Gibson was ripping off me doing my "Dont like people who are better than me" bit from Hartmans blog yesterday.
is conservapedia for real. i've tried to access it several times and all it does is fill up my cache and put me in a wait state.
Yes, Gibby. If caring about the war makes me a snob, then I'm a proud snob.
There IS a war on. Have you done your duty and gone shopping today, everyone?
Who act and think they are better than me. Someone who has an automatic they are better than you response. He stole that. That was mine.maybe not, but Im saying it is until then.
Im telling you . Remeber blogs from day or two before and often see your comments end up coming out of a Foxnews Pundits mouth.
Iraqis Reach an Accord on Oil Revenues
The Iraqi cabinet approved a draft of a law on Monday that would set guidelines for nationwide distribution of oil revenues and foreign investment in the immense oil industry.
...
It's a sad state. I work at an NBC affiliate, and yesterday the producer chose the Anna Nicole bullshit as our lead national story while the Libby juror story was going on. "Keep your job, don't say anything."
Re: Estate tax
I wish the Senator or Sam had brought up a pro-business, pro-market reason against repeal of estate tax.
The purpose of the tax is to promote efficient use of capital resources -- that we don't just hand tons of productive capital to "idiot sons." Instead, it encourages those heirs to get off their pool-side butts and compete.
really don't trust polling that much.
what i do see is people getting concerned that this is 'out of control'
i just point em at the information and ask em to make their own minds up.
Bush Fails Our Veterans
http://www.msnbc.msn.com/id/17316437/site/newsweek/
After returning from Iraq in late 2005, Jonathan Schulze spent every day struggling not to fall apart. When a Department of Veterans Affairs clinic turned him away last month, he lost the battle. The 25-year-old Marine from Stewart, Minn., had told his parents that 16 men in his unit had died in two days of battle in Ramadi. At home, he was drinking hard to stave off the nightmares. Though he managed to get a job as a roofer, he was suffering flashbacks and panic attacks so intense that he couldn't concentrate on his work. Sometimes, he heard in his mind the haunting chants of the muezzin—the Muslim call to prayer that he'd heard many times in Iraq. Again and again, he'd relive the moments he was in a Humvee, manning the machine gun, but helpless to save his fellow Marines. "He'd be seeing them in his own mind, standing in front of him," says his stepmother, Marianne.
...
"market is starting to recover."
Look how easily it can be sent tumbling. Just imagine what a more serious unforseen circumstance could do.
"Keep your job, don't say anything."
February 27, 2007 8:21 AM
I saw that mindset as early as the 80's. Get out yer kneepads if you wanna stay here. Dumb down, and stay down.
That smoker callers so stupid. Oh yeah, what about Nascar? What about Bar b Ques. Right wingers cook out and tail gate more than anyone on Earth. What about the volcanoes. And who farts more? Didnt some numbnuts right winger go on TV saying, bellowing the dino fart theory last week? Who farts more than big fat basterd steak eating right wingers like Fat basterd Lee Raymond
Errr, sorry. Now without typos...
Soooo, why did the BBC report that Buidling 7 collapsed about 20 minutes before it actually fell and while the woman reporter was standing in a live shot with the building still standing behind her? They refer to WTC7 as the Salomon Brothers building which it was also known as.
It's about 14 minutes into this 41 min clip. It's also been posted on Google Video but they keep removing it.
So here is a link to the actual BBC archives, let's see how long before they censor it there as well.
http://ia311517.us.archive.org/2/items/bbc200109111654-1736/V08591-16.mpg
And here's a news article about it:
http://www.prisonplanet.com/articles/february2007/270207trustanything.htm
(You may have to select and right click on the link and select the appropriate menue item to launch in a new window)
So here is devastating news that exposes the Media's cover up and in this case, shows how the BBC was just a little off on their timing when delivering this prepared story. So either the BBC is Psychic or they are LIARS too!
That's basically it. Our station is owned by a company whose stock has basically tanked from day one. They are losing money left and right, and instead of fixing their problems by deflating the salaries made by the higher ups, they squeeze everything they can out of the station workers. Unionization is impossible here, because no one has the balls to join on. A former co-worker and I tried this a few years ago and failed miserably because everyone is so complacent.
Authorities are considering taking an 8-year-old boy who weighs 218 pounds into protective custody unless his mother improves his diet
Sam is right. There was a huge article in the LA Times this summer about how character actors can't make a living anymore because of the huge salaries demanded by big stars. One example showed that if Julia Roberts [any highly paid actor] accepted $19 million instead of $20 million for a role, the other actors would actually be able to make a living wage. Disgraceful.
I would feed the parents of a 215 lb. 8 year old to that kid to teach them a lesson not to do that to their kid
I'd like to see a picture of Tony Snow bruised with a couple teeth knocked out.
Does that make me a bad person?
Dick Cheney in '91:
"For the U.S. to get involved militarily in determining the outcome over who's going to govern in Iraq strikes me as a classic definition of a quagmire."
http://www.thecarpetbaggerreport.com/archives/10021.html
Wal-Mart to expand in China with stake in 101-store chain
The US Supreme Court has refused to hear an appeal by a high school teacher from Arizona sentenced to 200 years in jail for possessing child pornography.
If anyone ever saw Lee Raymond naked, they'd turn to stone.
bibimimi troll'p said...
I'd like to see a picture of Tony Snow bruised with a couple teeth knocked out.
Does that make me a bad person?
February 27, 2007 8:32 AM
Tony Snow is a smug sociopathic prick who effortlessly lies to the public thinking he is too smart for people to notice. I really hat that guy.
Oh please...
http://www.itv.com/news/world_814782bdb389deb198c561fe2e088a12.html
Taliban: 'We were targeting Cheney'
18 Iraqi children killed by car bomb
The victims, all boys, were on soccer field in Ramadi
BAGHDAD - A car bomb exploded near a park west of Baghdad on Tuesday, killing at least 18 boys on a soccer field, police said.
The blast occurred in central Ramadi, a hotbed of the Sunni insurgency. The victims were aged 10 to 15, police said.
LINK
OFF WITH HIS HEAD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Bush: 'I'm proud of foreign policy'
11.04, Tue Feb 27 2007
US President George W Bush has again defended his policy in Iraq during a private fundraising reception with the Republican Governors Association.
Mr Bush also re-issued his warning to Congress not to try to cut off funding for troops in Iraq or limit his military options.
He said: "I'm proud of our foreign policy and for the next two years, I will conduct it with all my soul, with all my might, because I believe it's in the best interests of the United States of America.
"Failure in Iraq would invite chaos, would embolden those who would do us harm again."
My friend's spouse is being deployed for 6 months to parts undiclosed, but wherever it is there must be an ocean or sea, because his particular job in the military is exclusive to underwater missions.
Uh - could it be Iran?
aw, christ.
H R!
(hopeless retard)
Ron said...
Hiya Sam and bloggers!
It's just amazing that anyone still pays attention to Dobson - or do they?
The answer to your question lies in Jesus Camp. A must see.
Lauren is so nice to HR.
That should go toward community service credit.
Lauren, you get some free misdemeanors, there.
What difference does it make, when what passes for journalism is almost exclusively filler to take up the space between the ads.
February 27, 2007 6:20 AM
Well put, Anon!
thanks. cool, its warmed up enough to get into the yard. Ill be in for a bit longer, then Ill be in and out the rest the day.
People say globe warming might be good. Thats cause they cant stand the winter...sure, but for the wrong reasons. Its not the factor of the season, which is a neccessary part of some ecosystems(the resting and shedding of old). But its the Calander shift of the colder weather patterns that are bothering people and the effect is lasting like a decade long dordrums. Remember the winter doldrums? Well its not in Winter cause the cold didnt come in November , move to a super snowy white Christmas December. Into a shitty January and then ah its warming up now. It was weird and warm in Nov, Dec in went down a little bit(Im speaking broadly on average, I know some people got snowed but its not the whole country in an even blanket like 20 years ago), then January all matter cold hells was unleashed into the beginning of this month and ow its warming. And people dont know if its secure. The ground hog always, ALWAYS sees his shadow, except once in every 6-8 yars for instance. Sounds stupid but over the years you tend to notice when that furry little fucker is going to doom us too more snow and grey skys with his little shpeel. So he didnt see it, we have El Nino and Nor Easters trying to set up. So its like Even when its now, and warming, we dont know if winter will ever end cause its like it never really started YET still happend! ...AAAAAAAAAGHHHHHH!!!!
So thats pretty weird....
French teenager becomes 4th victim of Saudi attack
RIYADH (Reuters) - A French teenager died from bullet wounds on Tuesday, bringing to four the number of victims from a militant attack in Saudi Arabia on a group of French tourists in which the males were singled out and shot.
The boy's father was among three French expatriates working in Saudi Arabia who were killed during a desert trip on Monday in what appeared to be the first attack by suspected al Qaeda militants on foreigners in three years.
A group of nine French nationals living in Riyadh had been visiting historic sites and camping in the desert in the scenic western region of the vast country.
An acquaintance who did not want to be named said the men were machine-gunned in front of the women and children in the group, confirming a report from a security source.
LINK
i really hat that guy too.
Breaking my heart.
Iran -- click pics for details
http://www.flickr.com/photos/alireza_parsi/show/
aka jbenet
CrunchyKnee said...
web_geek said...
Who is this dooshbag on the phone?
I believe his name is Dewey and he is Sam's token con-follower. He is a moron.
February 27, 2007 7:15 AM
An obvious Fox News sheeple.
and then this;
http://www.jihadwatch.org/dhimmiwatch/#
Before it's too late for Western Europe and the United States, which gave birth to the traditions of freedom and equality of rights for all that shine today as lights in the entire world, this must be stopped. Therefore Dhimmi Watch seeks to bring public attention to:
* The plight of the dhimmis, an immense but almost completely ignored ongoing scandal that continues in Muslim countries today;
* The plight of women under Sharia provisions, similar to conditions imposed on dhimmis, in the denial of equal rights and dignity;
* Slavery in Islamic lands, which continues today, justified by Sharia-'s dhimmi codes;
* The integral role of jihad and dhimmitude ideology in global terrorism today;
* The license that academic and journalistic whitewashes of dhimmitude gives to radical jihadist enemies of human rights for all.
what passes for journalism is almost exclusively filler to take up the space between the ads.
February 27, 2007 6:20 AM
like the free porn they used to show overnite in Philly
an interesting month - Oct 2004
an interesting selection
http://www.jihadwatch.org/dhimmiwatch/archives/2004_10.php
==
got headache ... can't stop using my eyes
bibimimi troll'p said...
Fox News Porn Channel
That's frikkin' synergy!
February 27, 2007 8:13 AM
It was done on the Simpsons, one of those episodes that speculates on the future. Marge rolls over next to Homer and says, "Fox became a hard core porn channel so gradually, I barely noticed."
that 200 year sentence for the child porn seems a little excessive as nasty as the crime is. reminds me of when simple marijuana possession would get you life in texas.
isn't there a place in asia where they execute you first and ask questions later?
It was done on the Simpsons, one of those episodes that speculates on the future. Marge rolls over next to Homer and says, "Fox became a hard core porn channel so gradually, I barely noticed."
Ok, now thats funny.
I didnt see that, But in Idiocracy,a similer fate
Marge rolls over next to Homer and says, "Fox became a hard core porn channel so gradually, I barely noticed."
WOO_HOO!
up next:
Fox and Friends Clusterf**k
followed by:
Hannity & Cooz
later:
The BIG HARD Story with John "JunkintheTrunk" Gibson
beauty spring day here!
ummm, this is feb right?
2 Army units will forgo desert training
WASHINGTON - Rushed by President Bush's decision to reinforce Baghdad with thousands more U.S. troops, two Army combat brigades are skipping their usual session at the Army's premier training range in California and instead are making final preparations at their home bases.
Some in Congress and others outside the Army are beginning to question the switch, which is not widely known. They wonder whether it means the Army is cutting corners in preparing soldiers for combat, since they are forgoing training in a desert setting that was designed specially to prepare them for the challenges of Iraq.
LINK
Iranian Scholars Denounce Conference That Denied Holocaust
TEHRAN, Feb. 26 — A group of Iranian academics, writers and artists has denounced the Holocaust conference held in Tehran late last year, calling it a move that endangered peace and hurt the reputation of Iranian academics.
The Iranian government organized a two-day gathering in December, billed it as a legitimate conference on the historical record and invited notorious Holocaust deniers and white supremacists from around the world. Among those from the United States was the former Ku Klux Klan leader David Duke.
LINK
Thom Hartmann HAS to give me a break with the schlock and country!
* Chalmers Johnson: ³Nemesis: The Last Days of the American Republic" *
In his new book, CIA analyst, distinguished scholar, and best-selling author Chalmers Johnson argues that US military and economic overreach may actually lead to the nation's collapse as a constitutional republic. It's the last volume in his Blowback trilogy, following the best-selling "Blowback" and "The Sorrows of Empire." In those two, Johnson argued American clandestine and military activity has led to un-intended, but direct disaster here in the United States.
http://www.democracynow.org/article.pl?sid=07/02/27/1454229
"too many people are scratching to get by and survive to take to the streets..."
Still thinking about this. I would say that many middle class people are scratching to get by and survive, leaving no time for the kind of organization that leads to significant political pressure for social change. But enough middle class lose their shirts, and that's when you'll see them take to the streets.
There's a happy medium... you want to keep them struggling, but not too poor.
crunchyknee (have one of those too) said:
"Just like Franken always played the Dead, because that is what he liked...maybe Thom is doing the same?"
February 27, 2007 9:50 AM
country gives me the creeps, is all
Heard Limbaugh at lunch....
Rush LAUGHING at the inability of the Democrats "pushing back" a vote on refuting the Authorization to go into Iraq.
Can't blame the idiot...so far Reid and Pelosi are gutless wonders.
Yesterday Maurice, I believe, made the point that it is the responsibility of Americans, not to seek out objective information, but act on that information once we know it. It is our responsibility to act. Complacency, carelessness, and the resulting silence is in effect the condoning of this administration’s goal of perpetual warfare.
Instead, join the Project: http://vcnv.org/project/the-occupation-project
Take back america...do the Happy Dance all over their asses...
http://www.fort90.com/journal/?p=205
Pictures of Mario and other Nintendo 8-bit Artwork - AMAZING
It all hangs on Fitzgerald eh ?
no need to read (I liked the 'Nobody has been charged' bit)
http://www.reuters.com/article/topNews/idUSN2735620120070227
Nobody has been charged with intentionally identifying Plame, the wife of former ambassador Joseph Wilson.
eya sj
how'd the bread come out ?
The US psychological torture system is finally on trial
America has deliberately driven hundreds, perhaps thousands, of prisoners insane. Now it is being held to account in a Miami court
Naomi Klein Friday February 23, 2007 The Guardian
http://www.guardian.co.uk/comment/story/0,,2019341,00.html
this STILL makes me smile:
http://youtube.com/watch?v=gr5tx0lcyQc
http://www.fort90.com/journal/?p=205
Pictures of Mario and other Nintendo 8-bit Artwork - AMAZING
~~~~~~
Nice!
good signs down under
http://www.indybay.org/newsitems/2007/02/22/18367259.php
Great pics over on the main page of the regular blog. Carnac the Magnificent and the nintendo action pad. Fun.
Funny, I just used a pic of old Carnac in the "John Zorn's Magical Mystery Tour" page on the uncyclopedia.
http://uncyclopedia.org/wiki/John_Zorn%27s_Magical_Mystery_Tour
We have pictures, but haven't come up with the story yet.
Ashcroft Holding Ethically Questionable Pizza Luncheon
http://www.tpmmuckraker.com/archives/002630.php
I gotta ask...did u ever think you'd evr hear those words EVER written or spoken by ANYONE ANYWHERE?
dada
(re:Carnac)
"Ozzie's kid, a rolling stone, and the prince of darkness"
i think the ethically corrupt part is the fact that he's trying to sell pizza as a luncheon.
thats like saying...
chicken wing luncheon or
falafal luncheon.
I guess pizza is probably considered an ethnic food by Ashy boy tho'.
The AAR site has not been acting right for a couple weeks.
Some one needs to DX the server and software.
dick cheney-- truer words.... 4min 7 sec
[see if that 'link' thing works]
LINK
Sam, just as you finished discussing Dewey"s call about Al Gore's "outrageous" electric bill I immediately switched over to Rush to hear the topic for the day.
He was just segueing from a discussion of Gore's "mansion" to how earth-friendly the idiot's ranch house is at Crawford.
Of course he supplied no specifics on it, just raved about how far ahead of the curve The Shrub was.
Funny how we never hear anything from the White House about it, isn't it. Tom
Hey Sam,
Obama gave a great speech in Austin. He wants our troops to start coming home MAY of THIS YEAR...he wants an end to this war and he is not afraid to say it!
I hope you go to see him when he comes to New York in March. I think you will be inspired. I was supporting Gore but I read Obama's books and I am convinced he can change this country for the better. He even took a jab at the oil companies and he says our country can switch to alternative fuels like Brazil did.
I'd trust your a personal review...I hope you go listen to him.
Much Love
Dar in Bellingham
Anyone interested in tickets for either fund raising event with Barack Obama on March 9th in NYC at the Grand Hyatt now have an OFFICIAL contact that you can call or email....
Arthur Leopold (full time member Obama campaign staff )
arthurleopold@yahoo.com
212-593-0025
917-359-3920
Everyone in the NY metro area should want to be at one of the two events. They will be remembered as a major moment in the campaign when Barack proves New York does not belong to Hillary !
(you can click on my name to go listen to the Austim Speech if you want)
I hope you get your blog fixed soon! That is the other thing Obama talks about...getting everyone connected to the net.
He has a really nice blog set up now. It is about time! I hated his old blog.
So...I have read on an Iraqi site that Iran already controls southern Iraq has anyone else read any more info on this?
http://uncyclopedia.org/wiki/Air_America
vandalized since originally introduced to Sederites, but still poking Sam, Randi, and the "affiliates"
http://uncyclopedia.org/wiki/Air_America
vandalized since originally introduced to Sederites, but still poking Sam, Randi, and the "affiliates"
Happy Tuesday my foot. The Dow is down 415 points. The S&P 500 is down 50 points.
It started in Shanghai, and I guess this means that the air is finally being let out of the China bubble.
eya Dar!
just taking a break.
"james said...
eya sj
how'd the bread come out ? "
pretty good, just got another recipe from MomO to try.
Alice said...
* Chalmers Johnson: ³Nemesis: The Last Days of the American Republic" *
In his new book, CIA analyst, distinguished scholar, and best-selling author Chalmers Johnson argues that US military and economic overreach may actually lead to the nation's collapse as a constitutional republic. It's the last volume in his Blowback trilogy, following the best-selling "Blowback" and "The Sorrows of Empire." In those two, Johnson argued American clandestine and military activity has led to un-intended, but direct disaster here in the United States.
http://www.democracynow.org/article.pl?sid=07/02/27/1454229
February 27, 2007 9:36 AM
I missed Seder's interview with him.
He was "Why We Fight's" brightest and most informative interviewee-- with all due respect to Karen Kwiatkowski, who was great as well.
from Amazon.com:
"..Johnson's is a biting, often effective indictment of some ugly and troubling features of America's foreign policy and domestic politics. But his doom-laden trope of empire ("the capacity for things to get worse is limitless.... the American republic may be coming to its end") seems overstated. With Bush a lame duck, not a Caesar, and his military adventures repudiated by the electorate, the Republic seems more robust than Johnson allows."
I couldn't disagree more. Listen to frontrunners McCain and H. Clinton's speeches about Iraq. They are basically much more intelligent versions of monkey-man.
This is why I say everyone should have enjoyed the Oscars and not whined about the need for another politician to introduce "a new way forward for victory of freedom" or whatever nonsensical, tortured b.s. the morons phrase it as.
Good evening!
I'm speaking to you today from just inside Anna Nicole Smith's rotting, unburied corpse!
Afternoon all! Just home from work.
Step by step the blog is getting better. Now if he would only change the comments to what I have on my blog it would be perfect!
Did you see that market today? Negative 416 pts on the Dow. I knew this would happen. They are saying a correction.
Catharine, where are you girl???
LINKbr/>
South Korean sergeant Yoon Jang-ho poses in this undated family handout picture taken in Afghanistan and released by his mother Lee Chang-hee in Seoul February 27, 2007. Sergeant Yoon was among those killed in a suicide bomb attack outside a U.S. military base in Afghanistan where Vice President Dick Cheney was visiting, South Korea's Defence Ministry said on Tuesday. REUTERS/Handout
toniD said...
Afternoon all! Just home from work.
Step by step the blog is getting better. Now if he would only change the comments to what I have on my blog it would be perfect!
Did you see that market today? Negative 416 pts on the Dow. I knew this would happen. They are saying a correction.
Catharine, where are you girl???
February 27, 2007 1:33 PM
Ha!!
I just turned it on to see that twitchy bitch Larry Kudlow saying it's a "market correction".
Double Ha!
They are all sweatin' it because, no matter how you slice it it's not good news for broker/dealers.
I guarantee you that twitchy bitchy Larry will die in a sleazy hotel room waitin' for his pimp one day.
It's the biggest drop since the Monday after 9/11!
And these sweaty losers are saying it's a market correction. And then shortly after that time worn euphemism, did you notice they said it will drop further?
They said that part kinda quietly.
And the good news is... it's actually Cheney's fault!
The financial world has lost confidence in America.. or at least the part that really matters ... their Fiduciary Trust!
Buy China.
Has anyone seen my script?
Buy gold.
Hey Catharine!
Yesterday Greenspan said there might be a recession by the end of the year...and it spooked all the markets.
You can't blame just one thing on this drop!!
It's not just a correction.
That wacky Jim Kramer was right for once ... buy gold stocks ... FOREIGN gold stocks.
Simply by the law of averages Jim is right every once in a while.
"http://uncyclopedia.org/wiki/Air_America
vandalized since originally introduced to Sederites, but still poking Sam, Randi, and the "affiliates"
~~~~~~~~~
I haven't had a chance to really work on that page, but I have some great ideas lined up... just wait, when I'm done with it, you wont even recognize it.
Oh, and thanks for the introduction, Mr. Coward. *smiles*
You can't blame just one thing on this drop!!
It's not just a correction.
February 27, 2007 2:29 PM
True. But I like blaming Cheney. He has a lot to do with it.
Ha!
Halliburton's stock dropped 3.7% today. I think they announced a split yesterday, however ... I'll have to check... nice timing if they did ... a little too nice.
They are all sweatin' it because, no matter how you slice it it's not good news for broker/dealers.
I was completely turned off by Fox News Channel when Brenda Buttner kept yapping about the 'Kerry Crash', which would happen if John Kerry was elected.
Well welcome to the Dubya Depression. So what is going to happen to all that US debt to China when China is going to go through it's own downturn? They're letting the steam out of the Chinese markets right now.
I am exactly 1035 feet above sea level.
Hey Toni .. was it Greenspan or Bernanke who said that? If it was Greenspan, shouldn't he be keeping his mouth shut?
Hey Dada!
I can't wait! Heh!
These trolls must be second or third string. They sound foolish rather than threatening. And they yell alot. Must be the Limbaush syndrome!
Bibi said:
"Ozzie's kid, a rolling stone, and the prince of darkness"
hmm... can't seem to figure it out off the top of my head.
Where's Crank Bait when you need him?
U.S. Stocks Plunge in Global Rout; Dow, S&P 500 Erase '07 Gains
By Eric Martin
Feb. 27 (Bloomberg) -- U.S. stocks plunged, wiping out about $600 billion in market value and erasing all of 2007's gains, after a selloff in China spread globally and sparked the biggest rout in four years.
The Dow Jones Industrial Average fell as much as 546 points, the most since the first trading day after the Sept. 11, 2001, terrorist attacks. All but two companies in the Standard & Poor's 500 Index declined.
``This is a fairly violent selloff,'' said Russ Koesterich, a portfolio manager at Barclays Global Investors in San Francisco, which has $1.7 trillion in assets.
The worldwide tumble was sparked by China's plan to clamp down on illegal stock market investments. Chinese stocks slumped the most in a decade, while Europe's Dow Jones Stoxx 600 Index dropped 3 percent and emerging markets sank. Russian shares slid from an all-time high; Brazil's Bovespa Index lost 6.6 percent.
U.S. Treasuries rose on increased demand for debt securities amid the worldwide equity slump and signs of a slowing economy after durable-goods orders fell more than forecast in January.
The plunge in China ``exposed the fact that there are problems developing,'' said Jim Rogers, who co-founded the Quantum hedge fund with George Soros in the 1970s. ``When you have major stock declines, they always start in marginal countries, sectors and companies.''
The Dow average sank 416.02, or 3.3 percent, to 12,216.24. The S&P 500 retreated 50.33, or 3.5 percent, to 1399.04. The Nasdaq Composite Index dropped 96.66, or 3.9 percent, to 2407.86.
Technical Problems
With an hour left before the close of exchanges, trading terminals showed the Dow average dropped 178 points in a single minute. Dow Jones & Co., which oversees the measure, later attributed the decline to a technical problems with its data servers.
At one point, losses in the Dow and S&P 500 were the steepest since September 2002, a month before the last bear market ended. By the close, they posted their biggest declines since March 2003. For the Nasdaq, it marked the worst one-day performance since December 2002.
The Dow average today ended its longest streak in at least a century without a one-day drop of at least 2 percent, according to data compiled by Birinyi Associates Inc. and Bloomberg News. The last time the Dow fell that much was May 19, 2003, according to Birinyi.
China's government approved a special task force to clamp down on illegal share offerings and investments with borrowed money after indexes climbed to records. The Shanghai and Shenzhen 300 Index dropped 9.2 percent, wiping out $107.8 billion from a stock market that doubled in the past year.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAYgm7BUwSaI&refer=home
I just want to highlight this:
``When you have major stock declines, they always start in marginal countries, sectors and companies.''
Today's plunge also comes on the heels of a record-breaking U.S. rally, fueled in part by the two biggest leveraged buyouts in history. TXU Corp. yesterday agreed to be acquired by private equity firms for $45 billion. Equity Office Properties Trust was sold to Blackstone Group LP for $39 billion on Feb. 7. The Dow average closed at an all-time high last week, while the S&P 500 and Nasdaq reached six-year highs.
``Things just got a little overheated in the U.S. investment scene and it needs to calm down a little bit,'' said John Kattar, who oversees $1.8 billion as chief investment officer at Eastern Investment Advisors in Boston. ``A lot of the frothiness of the private equity deals should subside now.''
although I wouldn't necessarily call China a "marginal" country ... anymore.
Catharine said...
Hey Toni .. was it Greenspan or Bernanke who said that? If it was Greenspan, shouldn't he be keeping his mouth shut?
---------
It was Greenspan! Check out my blog. I have the article:
http://abramoffjournal.blogspot.com/2007/02/one-day-after-greenspan-said-possible.html
"Investors were also spooked by comments Monday from former Federal Reserve Chairman Alan Greenspan, who said a recession in the U.S. was "possible" later this year."
``A lot of the frothiness of the private equity deals should subside now.''
Hahaha!
This is the equivalent of "it's just a correction" bullshit.
Hahaha!
No shit, Sherlock
toniD said...
It was Greenspan! Check out my blog. I have the article:
***
Hey, did I ever tell you how great you are?!
You're great!
A measure of raw-materials producers slumped 4.2 percent for the worst performance among 10 industry groups in the S&P 500 on concern China's appetite for imported goods will wane at a time when slower manufacturing restrains U.S. growth.
Alcoa Inc., the world's biggest aluminum producer, tumbled $1.57 to $33.79. China is the leading consumer of the metal. Copper miner Freeport-McMoRan Copper & Gold Inc. fell $6.17 to $55.75 on expectations of decreased demand from China, also the biggest user of that metal. The stock's 10 percent retreat was the sharpest in the S&P 500.
Caterpillar Inc., the largest maker of earthmoving equipment, fell $2.43 to $64.83.
***
Weren't we all saying this a while ago?!
That's what happens when you don't listen.
Catharine said....
Hey, did I ever tell you how great you are?!
You're great!
Well thank you very much, but you are too! That's why I called for you on this. I knew you'd have more "Inside" info;)
Anonymous said... February 27, 2007 6:20 AM
Americans' refusal to look in the mirror presages our own demise
reference title ; No One Here Gets Out Alive
look in the mirror and choose a nick Anonymous : )
and not one Jim Morison ref in the article
I love you Sam Seder.
Catharine said...
Weren't we all saying this a while ago?!
That's what happens when you don't listen.
Yep! And the trolls were calling me "chicken little". Remember!!
I just want to point out that although people may think "what's the big deal? the stocks fell only about 3.5%", this is a very big deal to some companies.
They can't go borrow, or buy other companies when their stock value has decreased.
It's kinda like a mortgage. If you have a house that you owe about $485,000 on and it was worth about $500,000 yesterday; you also have some outstanding debt that you expected you could pay off using some money you could get refinancing. Well, overnight your house just lost $17,500 in value.
OK .. well not the best analogy, but ... your plans are seriously altered.
So too are the plans of some of these companies. And if they carry a lot of debt... oh well.
toniD said...
Yep! And the trolls were calling me "chicken little". Remember!!
February 27, 2007 3:01 PM
They only attack you if you're the strong one.
It's a badge of honor, Toni!
Wear it loud and proud!
Back in September 2006, investor Robert Shu prophetically wrote:
I’m writing to you from China—with an urgent warning.
Whether I’m looking out of my hotel room in Beijing or attending private meetings in windowless offices…whether I’m buying crab dumplings at a local Shanghai restaurant or hailing a taxi…
…you can smell it.
More than the smell of diesel, cooking oil and sweat, you can smell the sickly-sweet smell of too much money.
The forest of cranes I watched from my hotel room in Beijing, for example, belong to CCCG (short for China Communication Construction Group). Right now, CCCG is readying an IPO in Hong Kong valued at nearly $2 billion. Merrill Lynch and many other Wall Street big-wigs have pledged to push the deal—and make sure everyone gets rich.
Everyone except the investor, that is. As I watched those cranes swing and lift ceaselessly through the night, I sketched a mental picture of the money river that these massive projects represent.
From the trickle that goes to the kids who balance on girders 40 stories up, to the kickbacks the site foreman receives, to the suitcase-sized payoffs the mayor and bankers receive, to the great torrent of money that goes to the government agents and Party bosses, I could see in my mind’s eye the river of money flowing through China.
And then a Beijing boss says, Why don’t we get even MORE money. Let’s do an IPO! What a hoax. Billions will be lost, and the average U.S. investor will swear off China stocks for a decade. And the life-changing fortunes that they could have made will pass them by.
It’s a story that many Americans will recognize, of course. Enron and Adelphia, Global Crossing and Kmart, Worldcom and Kaiser Aluminum all went bust too—and left a trail of ruin. And, of course, we know great things can get done with all this money. Railways are laid, dams built and TVs get churned out. But also--from Atlanta to Alaska we know this--all that wealth, without a jot of accountability, well, it's a powerful drug.
This is what I was talking about earlier:
Brokerages extended their losses to a fifth day as a pullback in global equities threatens their earnings prospects, which have already been hurt by an increase in mortgage defaults.
Goldman Sachs Group Inc., the biggest securities firm by market value, declined $18 to $196. Lehman Brothers Holdings Inc., the fourth biggest U.S. securities firm, dropped $3.64 to $74.19, while Morgan Stanley, the No. 2, fell $4.39 to $74.13.
China's stock market drop is a concern because U.S. securities firms have become more reliant on growth in international markets, including Asia. At the same time, the weakening U.S. home loan market will reduce brokers' revenue from underwriting securities backed by mortgages.
``Anything disrupting the free flow of global capital in an increasingly international setting is going to upset investors,'' said Leo Grohowski, who helps oversee $100 billion as chief investment officer at U.S. Trust Corp. in New York.
Durable Goods
The Commerce Department said orders placed with U.S. factories for durable goods slumped 7.8 percent following a 2.8 percent gain in December. Orders excluding transportation equipment slid 3.1 percent.
The figures suggest reluctance among companies to invest has carried into 2007. Bloated stockpiles at auto dealers and construction-equipment makers may restrain production early this year, Federal Reserve Chairman Ben S. Bernanke told Congress this month.
``With some potential signs of cracks, be it China or the durable goods orders, this might be setting us up for a cooling or a pullback in the market,'' said Jason Cooper, who helps manage $2.5 billion at 1st Source Investment Advisors in South Bend, Indiana. ``I'm much more bearish than bullish right now.''
Qualcomm Inc., the world's second-biggest maker of chips that run mobile phones, lost $2.40 to $40.25. Chief Executive Officer Paul Jacobs last year said the company expects a ``huge market'' for advanced devices in China. International Business Machines Corp., which owns about an 11 percent stake in China's Lenovo Group Ltd., dropped $2.95 to $93.96.
China China China.
That's what we've been saying all along.
Except that what we didn't say was ... what if China stumbles?
Good one! :
i said...
Back in September 2006, investor Robert Shu prophetically wrote:
I’m writing to you from China—with an urgent warning.
Whether I’m looking out of my hotel room in Beijing or attending private meetings in windowless offices…whether I’m buying crab dumplings at a local Shanghai restaurant or hailing a taxi…
…you can smell it.
More than the smell of diesel, cooking oil and sweat, you can smell the sickly-sweet smell of too much money.
Oil Climbs
Crude oil rose to the highest close this year on speculation U.S. fuel inventories declined because refineries are repairing units.
Gasoline supplies fell 1.5 million barrels in the week ended Feb. 23, according to the median of forecasts by 15 analysts before an Energy Department report tomorrow. Stockpiles of distillate fuel, including heating oil and diesel, dropped 2.6 million barrels. In February and March refiners perform maintenance and start maximizing gasoline output.
Crude oil for April delivery rose 7 cents to $61.46 a barrel on the New York Mercantile Exchange, the highest close since Dec. 22. Futures touched $62.25, the highest intraday price since Dec. 26. Prices are up 0.8 percent from a year ago.
Gold prices dropped as the plunge in equities prompted investors to bail out of precious metals.
Was just talking to my brother. He said, and I agree, that we have to find an alternate fuel ASAP so we can control our own future here.
Venezuela is supposedly bying weapons from Iran, Russia, and China. Per CNN
OK ..
really weird. That article off of Bloomberg is ... GONE. Replaced by a similar article ... but not with the same salient points at all... it MUST be there... right?
Gold prices dropped as the plunge in equities prompted investors to bail out of precious metals.
???????
it MUST be there... right?
February 27, 2007 3:27 PM
==
editor in action
Dow Jones Says Computer Problem Accelerated Stock Average's Afternoon Drop Dow Jones & Co. said its computers were responsible for the sudden drop in the Dow Jones Industrial Average about an hour before the close of trading today because they failed to keep up with stock trades. The New York Stock Exchange and Nasdaq Stock Market Inc. also reported problems.
Economists Say Greenspan's Recession Prognostication Sounds About Right Economists say Alan Greenspan has it about right: A U.S. recession is possible, though unlikely.
LINK
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