Wednesday, October 29, 2008

Random thoughts.

The huge uptick in DOW yesterday wasn't reassuring. It makes it look even more like a casino.

This election has revealed the HUGE gulf between the way I think and the way the 'Joe the Plumbers' of the world think.

While a poker tournament for charity could be lauded, I think gambling is fundamentally a flawed ethical activity. I'm shocked -- shocked! -- that someone who played (presumably) would actually steal the money....

Pronghorn has closed it sales office. Mothball time, folks. You hear that, city councilors? Probably time to mothball JunRidge.

"Is Flashback Cruz too big and noisy for Drake Park?" Err...what I've been saying. These special events have gotten out of control.

Oden out with a foot injury. Curse of Jordan continues....

Turned in my ballot yesterday, and felt a sense of relief.

Part of me expects my credit cards to lower their limits -- that's a pretty big chunk of money on the two cards if I keep them at zero. Even though I'm not using it, I still like to think it's available for emergencies. But part of me thinks they don't have the balls.

Funny thing is, I suspect they are MORE likely to cut my limits because I'm a good risk. If they can't get any late fees or interest off me, than they don't really lose anything. Combine all the good credit risks and lower their limits, and it will look as though they've lowered their overall risk. Meanwhile, the people in trouble can keep their limits because the banks can continue to collect huge fees and penalties. Sort of like the banks who are over their heads get help, the people who got bad mortgages may get help, and people who are gainfully employed often can't qualify for help. Topsy Turvy.

You know, let's keep rewarding bad behavior and punishing good behavior. Keep giving bonuses to the short term thinkers and firing the long-term thinkers. Keep bailing out the bad actors and ignoring the good ones. That should lead to...about what we see now?

Fascinating to me that the government bailout is so huge that it reaches down to the likes of Umpqua Bank and Cascade Bank. Fascinating too, that they look like they'll take the offer. Hey, I thought everything was hunky-dory?

You would have thought all the missteps and mistakes by the city council would have produced a 'progressive' slate of candidates. Instead, it produced the opposite. Candidates who seem to be even more closely aligned with the real estate interests. That's kind of weird. My first inclination was to vote out the incumbents, but given the choices....

3 comments:

RDC said...

What you are seeing in the stock market is a major push and pull between those on one side that think the stocks are cheap and expect the market to bounce higher and those on the other side (of which I am one) that feel that the economic down turn has not been priced in yet (that the cheap looking multiples are really not that cheap). Because there is not any clarity the volatility continues.

As far as your credit cards you might run money through them, but not any more than you can pay off at the end of each month. They are less likely to cut or cancle a credit card that is seeing use, even if the balance is always paid in full, then a credit card that is just sitting idle.

blackdog said...

"You would have thought all the missteps and mistakes by the city council would have produced a 'progressive' slate of candidates. Instead, it produced the opposite. Candidates who seem to be even more closely aligned with the real estate interests. That's kind of weird. My first inclination was to vote out the incumbents, but given the choices.... "

I've concluded it doesn't make a dime's worth of difference. I've watched city councils come and go for 23 years -- "Men Without Ties," men with ties, so-called progressive blocs, so-called conservative blocs ...

In the end the RE/Development/Builder Axis calls the shots in this town. Always has, always will.

blackdog said...

"What you are seeing in the stock market is a major push and pull between those on one side that think the stocks are cheap and expect the market to bounce higher and those on the other side (of which I am one) that feel that the economic down turn has not been priced in yet"

"Be greedy when others are fearful and fearful when others are greedy." -- Warren Buffett

Seems to make sense. Buffett is buying.