Sunday, January 31, 2010

Sunday, Sunday...

Ok, I have no problem with bad science fiction movies- I actually enjoy them. But holy shit- Legion was such a bad movie! Last night we took the boys to see Legion and it was sooo bad. Of course I knew that the boys would love it and they did. They thought it was sooo cool and so good. Funny thing is we have now taken the boys to see two R-rated movies and both had Dennis Quaid in them (Pandorum and Legion). The first was pretty good but Legion- Dennis Quaid should be embarrassed. The one redeeming quality was Lucas Black's guns at the end of the flick. The end also kinda left it open to a sequel. If there is one I would imagine it goes straight to DVD- actually I hope it does.

Today we skated in the afternoon. It was great and we were in the middle of a heatwave- it got up to freezing today! My youngest looked at my hand and noticed the abrasions I had on my knuckles. He asked what happened and I told him they were from karate yesterday. Abrasions- they happen when you are hitting muy thai pads without wraps or bag gloves. I am a bit old school though and when I started down the road to the black belt one did not wear wraps or bag gloves during core class. I still don't and that is the price I pay I guess.

So, PS and SP- our friends who live across the street and got us to move into our home- are moving to D.C. come June. We're bummed but it is a great chance for them and they may not stay there. We had drinks with them this evening when I got back from dropping the boys off at their mom's house.

This looks like it will be a busy week. The husband has his other book club tomorrow night. I have karate Tuesday and Wednesday, I think we are free Thursday and we have no plans for the Super Bowl this year but it will be our four year anniversary for when we met.

I actually wasted five minutes of my life reading Mr. Volcker's editorial in the NYT today. He did not write anything new from what he has been saying for close to a year now and I agree with some of his points but I am sure it will cause a huge commotion in the markets tomorrow.

Friday, January 29, 2010

We live in a pornocracy

So yesterday morning I woke up and I winced when I rolled over onto my left side. Went to the bathroom. took a leak and checked out my ribs- yep, big bruise on them and actually had one right below it on my abs as well. I also notice on on the outside edge of my foot. Of course right off to the gym. My run was a bit painful so I only ran for 20 minutes and not at a blistering pace- just over 2 miles.

So J.D. Salinger passed away. I have never read The Catcher in the Rye. I have an inherent aversion to it because every pompous, prep school prick I met in college raved about it and how it was his favorite book. I may read before I die but I am in no rush- I have had enough angst, alienation and phoniness in my life already- like I really need to read about in some teenager who got kicked out of prep school?

JW made a reference to an Abelian group during our emails about politics. I had no clue what it was and accused him of making phrases up to see if I'd challenge him on any of them. I wiki-ed it and it is real. The best part though is there are axioms and I am thinking of starting a cult- I mean group where people live their lives by the Abelian group axioms. What are the axioms? Glad someone asked. They are closure, associativity, identity element, inverse element and commutativity. Hell, I bet I could get a bunch of baby boomers to fall for it and give me money too.

Thursday some talking head from the White House was commenting on how the high speed rail seed money the government is putting up is going to create an exciting new sector of the economy. Really now? I don't know what planet that guy has been living on but last I checked passenger rail travel is not a new sector of the economy. I believe it's been around since the 1830s. We still have passenger rail travel here in the United States- it's called Amtrak and guess what- the government already owns and runs it.

After the close AMZN reported. The thing that stuck out to me is they are still reporting using non-GAAP numbers. AMZN has been around for sixteen years and public for close to thirteen. Why is the company still using non-GAAP numbers? How long before they make the big move to GAAP numbers? I also want to know if they did report GAAP numbers would they actually have made any money? Kinda makes you think what the point of GAAP is if everyone can just ignore them and make up their own accounting standards.

I had drinks after work with the boss and a guy we do business with. It was a good time as this guy is just a great guy. During the conversation it came out that the boss and his wife use to do Tae-Bo together in their basement- naked! I told him that is too much information to be telling people.

After I ad drinks with JS right around the corner. As always it was good to see him and catch up. I was a bit freaked at the length of his hair. He has always kept his hair close to short and tight. Now he looks like some long-haired hippy freak, lol.

Friday morning I din not work out but did go to the gym. I went to the gym because there was a water main break and out part of town had not water so I showered up there.

The whole brouhaha over Justice Alito saying not true is interesting. The President was a Constitutional Law instructor if I recall correctly- I believe at the University of Chicago. Most of the commentaries all say the President is wrong plain and simple in his statement of how the Supreme Court ruled on Citizens United vs. FEC.

The idea of jobs tax credits is probably going to fail. The only reason I say that is they have been tried before and they did not achieve the intended goal. Yep, President Carter tried them.

Lunch Friday was awesome! Meatball parm on garlic bread. I highly recommend as a lunch meal.

IF the President really wanted to be straight with us Americans he would tell us sorry but we have to accept that we will have a lower standard of living going forward. Sad thing is we Americans don't ever want to hear bad news or be told that we and our children will not have the same standard of living as our parents unless we make the hard decisions now and that those decisions will be painful and hard.

I got home last night only to find out a water pipe in our building had burst. Of course it was over the lobby. So the entire lobby was out of commission last night.

I picked up the boys and we had a nice quiet evening. This morning I hit the dojo- Kobra Kai never die!- and then took the boys with me to get my taxes done. Tonight we are going to see Legion. This is the second R-rated movie the boys will be seeing with us. I already pinky swore them to not tell their mom.

A pornocracy is where the government is ruled by harlots. If you really think Congress is not a bunch of whores, harlots or prostitutes I'd like to know what kind of cookies you had when you drank the Kool-Aid.

Wednesday, January 27, 2010

Rule 22e-3

So, this morning at the pool, the gentleman who devises all the work outs for the club- I guess you'd say is the coach or coach-like- told me I need to stretch my stroke out(reach more) and turn my hips. He said I don't know how or what you were taught but if you can do that you'll get more glide in the water and use less energy. I told him yes way back when I was a youngin' and swimming for a club team (as in 1976-1979) my coach told me I was not supposed to turn my hips. Curses upon you Bob Kuhn! I coulda been a contender if I had just been taught to turn my hips when swimming...

I woke this morning with a slight twinge in my ribs and knew immediately what it was from. Last night at during kickboxing I went up against this guy one level above me and his frackin' snapping front kicks were deadly. He definitely hits with the ball of the foot and it is not only painful but effective in making me hesitant to close the distance with him. Of course I sparred with him again tonight and he was back with those damn snapping front kicks. After our round was done I told him how good those kicks were and how the hurt when he connected.

Since I am on the topic of the dojo- so embarrassing. Tonight, during submission grappling I of course got paired up with the hot, inked surfer dude who has the same first name as me. During one of the drills I totally ripped ass; it was loud, it was near hs head and I couldn't help but start laughing. I am not sure he saw the humor in it as well.

It kind of seems ironic to me that Greece, which many think of as the birthplace of Western civilization and democracy, is rumored to be getting bailed out by China- the last major Communist nation in the world. Of course all parties involved denied said rumors.

it seems that Paul Volcker has always detested money market funds (going forward MMF). If I understand what I've read on his stand on them he seems to view them as art of a shadow banking system that really should not be around because they don't fall under a serious federal regulator and can exacerbate financial problems. He has pretty much had it out for them for a while now. Well it looks like he may finally get what he wants. The SEC voted to pass rule that is possibly going to drive MMFs out of business. The SEC will end up shortening the maturity MMFs can hold down to 45 days I believe and they can suspend redemption's in times of crisis at their discretion. It really won't impact retail investors much since most of the MMF assets are all corporate cash balances. This could be why the 1 month U.S. Treasury Note went negative on yield. That means that people who are lending the U.S. government for one month are also paying the government for that privilege. I would conjecture that corporations will realize this and the possible response would be to pull their assets out of MMFs. That could be slightly detrimental to the MMF business as a whole.

Tuesday, January 26, 2010

I wanna know where Tanya Harding was at the time...

Holy crap the bus was full hot guys this morning! I love sitting at the back of the bus and watching them all get on at the various stops on the way into the Port Authority.

I actually biked 12 miles this morning at the gym. I felt like I was going to die by the end of the ride to hell. I was still schvittzing when I sat down at the desk 30 minutes later.

First thing I read was tht apparently the DoD had signed off or agreed it would be in our best interests to sell Blackhawks and Patriot missiles to Taiwan. WTF??!!! Seriously, why now are we deciding it is a good time to jab another eye in the eye of the Chinese? We are starting a trade war with them, have attacked them after how many years of them censoring the internets there, we know they are running a cyber-war against us and now we figure we'll antagonize them just a little more. Sure, sounds like a plan to me for this country when China is also our largest creditor.

I got a great BBRG message yesterday from a guy at a large U.S. bank that currently engages in prop trading. He made the observation that here in the West we get all pissy and uptight when the government takes stakes in banks and then decides they have a say in how the banks should run their business. Apparently Western governments have no point in being involved in the direct business of allocating capital. Yet those same investors are falling over themselves to invest in all and any Chinese bank which are all majority owned by the Chinese government, i.e. a Communists government that believes in and practices authoritarian central planning of the economy. Can someone please explain to me why these investors have more faith in the Chinese Communist party correctly and efficiently allocating capital than our own democratically elected governments?

You have to love how the Fed finally now decides the Fed Funds rate is not the correct benchmark rate and are debating switching to or creating a new benchmark rate. As one commentator put it it is basically a confession of shit, this is the target we set and no one is hitting it or paying attention to it. Let's just make a new one. The problem I have with it is does that mean (which I am inclined to believe) the past twenty years of using the FFR as the benchmark have been a huge waste of time? Also the other option they have is just to raise the FFR tomorrow form zero to 25 bps. Actually they can't do that because the economy is actually in worse shape than they are letting on with all of there massaged statistics. You also have to wonder about all the unintended consequences that will arise form creating a new benchmark. It is another step away from letting the markets. i.e. the supply and demand for overnight interbank loans,set the rate and an attempt to wrest control back. I am not saying it doesn't have merit. It is quite possible that by letting the market set the benchmark rate over the last twenty years that is what helped cause the mess we are in right now. Funny thing though is a lot of people lie having supply and demand set it as opposed to some supposedly objective econometric model which by its very nature has flaws and inherent biases built into it.

For the record I found out today that basil chicken salad will stain a light colored shirt if it comes into contact with said light colored shirt. Just thought everyone should know for future reference.

I was chatting with my cousin this morning. He is the one who got me into this business. He was commenting on or lamenting the fact he will be 50 later this year. I told him he should be psyched as it means he will now got to avail himself of all the AARP discounts. He questioned me on that and I explained to him the first real shop I worked for in my line of work ran all the AARP mutual funds so all of the employees of that shop were automatically members of AARP regardless of age and for free. I miss the days I could use the discounts for car rentals and hotels and when people doubted me I'd whip out my membership card and they had to acquiesce to my demand for the discount.

Apparently I need to give m employer my passport number. It seems we will be getting registered to conduct some non-U.S. business and Big Brother (aka a foreign government) requires that information.

I read about Nancy Kerrigan's father passing away and how her brother is now a suspect in an alleged murder of him. Seriously, hasn't anyone thought to check out Tanya Harding's whereabouts at the time of the alleged crime? She had no compunction whatsoever in hiring someone to take a pipe to Nancy's knee years ago, got caught, did her time. It could be all about revenge and patience.

I debated not using spell check tonight as I am kind of beat from the dojo but figured I should. I may skip it later this week and just let my bad spelling and grammar stay as is.

Monday, January 25, 2010

My Gym Partner's a Monkey

So this morning the wind was scary strong. The windows were rattling and is was howling outside. It was kind of scary. I asked the husband as I was leaving if he heard the wind. He mumbled something incoherent most likely because he did not get home until about 1:15 AM.

So apparently it is Girl Scout Cookie season right now. I always laugh about it because every guy in the office with a girl in the Girl Scouts or Brownies hits up everyone in the office. What I noticed is the Girl Scouts from more affluent areas in the tri state are charge more per box than the ones from the less affluent areas. I also laugh because I recall a cartoon on Cartoon Network the boys used to watch and one episode where the Girl Scout like organization was basically a gang and beat the crap out of anyone who encroached on their turf. Hence the title of the post.

Denny Hamlin is kinda cute. I saw a news story about how he got injured playing a basketball game- he's a race car driver professionally. I haven't done any more checking out of him on the internets though.

The new Brendan Frasier and Harrison Ford movie Extraordinary Measures is a huge flop apparently. Funny thing though is the guy who it's based on, one John Crowley, used to take karate with me down in central Jersey. I remembered him because he was pretty cute, built and short. I saw him on one of the financial news networks once too.

My bond friend has been all over me about what's going on in the single delta markets lately. It makes me nervous when a bond guy is asking me but I tell him what I know and what I think is going on.

I still think and have been debating it with the boss all day that Bernake is a goner. I think the general populace is getting a bit fed up with the schizophrenic message the Administration is giving: The banks are bad and evil but Bernake has to stay to make the financial system keep going. Well if the banks are the cause and they are the financial system then why do we need Bernake to save them? Hasn't he been involved in and with them for more than a decade? You want the banks saved but they are bad?

So I read somewhere that all of the TARP money lent to banks was repaid at a profit. The TARP payments to AIG, GM and Chrylser have not been repaid and are still losing money. Yet somehow the banks need to pay again and more. Does that make any sense? And don't you want the financial system saved? Saved so you can then make them pay again and again and again?

The boss has a bit of an issue. Last week he went to his knee and ankle guy. The doctor told him he really shouldn't be a runner any more, he should just be a swimmer and biker. It seems all of the scoping he has had done on his knee over the years has left nothing in the joint anymore and the pain he feels from the pounding of running is bone hitting bone. I asked if that meant this was his last race this June. He said probably but he has to do this one as he shanghaied about foru more people in the office into to doing it.

It's good having the husband home. He has one of his book clubs tomorrow night and then a business networking party to go to Wednesday night. I am having drinks with a good friend Thursday night and we have the boys again this weekend. So since I have not seen him in a week I blew of karate tonight. We'll watch Heroes, eat Chinese delivery and go to bed early.

Sunday, January 24, 2010

J-E-S-T! Jest, Jest, Jest!

So I saw the Glee won some Golden globes. I happened to be perusing the web site of my alma mater when I learned that the co-creator/producer of the show and he graduated 3 years behind me which means he would have been a freshman when I was a senior. I don't remember the guy at all, lol.

Friday at the office was jeans and green day. The COO is a huge Jets fan and said everyone could wear jeans and green and donate $5 towards Haiti. I am not a Jets fan or supporter so I wore a suit and tie. I don't care how hot Dirty Sanchez is, I just don't like the Jets.

So when I picked up the boys Friday night I told my oldest he needed to take medicine for his cold. I had noticed through out the week he was sniffling and coughing. We stopped at the grocery store right out of the garage and picked up some Sudafed Cough & Cold- the non-drowsy formula. By the next morning he was feeling much better and sounded better too. He had to do something he hates- admit dad was right.

It was a real lazy weekend for the boys, the kids and me. I actually got to take a nap both days. I told the boys I'd make dinner. So I used the husband's recipe for brined pork chops. I also made baked potatoes and honey glazed carrots. The odes was psyched as he told me he thinks the husband and my mom are great cooks, followed by me and his mom's mom and last but not least his mom. The big hit was not he brined pork chop but the baked potato! Go figure. I am not a potato fan- the irony is rich since I am of Irish descent- because mom made them for every frackin' meal growing up. I really only eat potatoes on Thanksgiving and then with lots of gravy. For dessert it was mint chocolate chip ice cream.

I actually read two good articles this weekend in the main stream media.

One basically made the point that the political parties are missing the point of what has changed. It used to be what can each party do for me. These days it seems it has become which party has the same values and goals that I do.

The second one was about a big flame out on the blogosphere between a blogger and his former readers/allies/etc. The thing I took away from it reinforces my belief we are becoming tribalized through the internet. One person commented well it's his sand box and he can allow in whoever he wants. The rampant anonymity the internet allows has led many to completely abandon all civility.

Holy shit- U2 songs in ads for the Daytona 500????

Just turned on the tv and see the Jets lost- I knew I was right to wear a suit and tie...

Friday, January 22, 2010

For a four day work week it sure seemed frackin' longer

It has been a long week. I have gone into full ADD mode I think with all the stuff that has gone on in politics and the markets. it is late, I am tired, this post will ramble thanks to ADD- oh look a chicken!

I really don't know where to start. I might as well start with some eye candy.

We have four televisions in my area of the office. The other day one of them was tuned into the Childrens News Broadcasting Corporation. I happened to see who was talking and turned the volume down but kept watching as he was a pretty good looking guy- one Cameron Findlay. I have no clue what firm he works for or what he was even talking about but it was nice.

The Human Target- thought it was a great comic book. The show is going to be good solely because of Mark Valley and the fact that in the pilot he was shirtless and is totally freakin' hot! He is furry and has ink. The husband googled him when we were watching and saw he was only 5' 10" which is within his range. I told the husband he could add him tot he list.

So Massachusetts sent a Republican to Washington to take over the late Ted Kennedy's seat. The implications are staggering. I don't know what message the voters are trying to send except maybe they want Congress to actually do their job and legislate effectively and from the center. The election has set off a long and great discourse with JW. What we have agreed to in principle is that the public is pissed because they are starting to think that Washington has abdicated all responsibility to the corporate sector. It's as if the corporate and government sectors are becoming one. That is essentially fascism. JW and I don't fully agree on what the definition of fascism is but we agree on enough to think that is the road we are headed down. Sadly unless we do something about it we will have voted ourselves there.

The left is pissed off because they got completely suckered by the candidate they voted to become President. The Dems have ignored their base.

I think the Dems need to throw off the yoke of the pejorative term liberal. I have become indoctrinated to view the word liberal as a pejorative because of my career choice. I think the Dems need to remember words have power and they need to claim the mantle of progressive. They have 70 or so years of history to base the claim on.

The bear market rally- while it was huge and long is over.

I am going to have to guess that the populist pivot the President has made in deciding to fight the banks will not end well for him. Maybe it's just me but it seems money always beats political power. To paraphrase Dillinger- the bank is where the money is.

The internet is great but it has had a balkanizing effect on society and encourages a tribalist mentality.

I have found I don't sleep well when the husband is away. He gets back Sunday night- late.

We do need healthcare reform as I have said before but what the Dems are proposing is not reform at all.

Ice skating tomorrow maybe.

ADD is an asset by the way for what I do for work but makes writing a coherent blog difficult at times, lol. Fucking deal with it bitches.