Dow Jones and CNBC yesterday were reporting that in a speech in Toronto Warren Buffett said that if the current deficit didn’t improve, the dollar would would be “worthless” in 5-10 years.
In a hilarious episode on Squawk Box this morning, Buffett himself called in to clarify his comments. He said the dollar would be “worth less” compared to other currencies – not “worthless”. It did seem a little extreme! LOL
Scene: Meeting between an unnamed money market manager and The MLEC (”The Entity”). Treasury Secretary Paulson is present. MLEC: Would you like to buy some of our asset backed commerical paper? Manager: Yes. But we’re fully invested right now. Maybe…
Shiznit, adj: (1) the best (2) the greatest in a certain category or universally (3) gaddam’ phenomenal, bi-atch! In the spirit of “Malibu’s Most Wanted”, which I had the pleasure of watching last night, and on the occasion of Fed…
Being The Shiznit means you get your own action figure (Picture).
This is really funny and well done: “Here Comes Another Bubble” (YouTube Video)(via The Big Picture). Catchy line: “It’s a monster rally….. All across the valley.” Also good: “Blog blog blog it all…. Blog it if it’s big or small…..Blog…
“… during the last month of the quarter, we did start to see the beginning of some softening in demand and the channel research that we did and the studies that we conducted say that some plastic surgeons were starting…
This is really funny: The Last Laugh – Subprime. (Via The Kirk Report)