Oldtent Archives 2007 - 2008

your posting of 23:02. but must say that I was so pleased that today, January 22, Mr. Bush took the initiative to set things in a motion with an “advisory council” that is going to help homeland residents act in a fiscally responsible way (they dubbed it “financial literacy”). { !, LOL}.  I wonder if one of the conclusions of the advisory council might be to suggest that the government/the Fed (sorry I cant distinquish between the two) is not necessarily the best model of financial literacy  <g>.

http://www.whitehouse.gov/news/

what do ya call the ‘outhouse’ back o the split level? what-er you a ‘purist’ or somthin? wj

down in Wichita for your Ron Paul endorsement. Ain’t them good ole John Bircher boys? I still say they were the mystery John Galt that put a gold eagle in the Sally Ann kettle back around the turn of the millenia in Wichita.

The suspense is killin me and I’m a foreigner.

Always lookin to stir the pot of mental stew, mm

I learned something very simple on bubble vision today I had never really thought much about.  One of the interviewees made a point….that for whatever reason…it stuck with me..

He said..and I paraphrase:  “The fed needs to cut the fed funds rate down to below 2% so the banks can make a risk free trade by buying treasuries at 3.5% - 4% (or higher)”  

So….if what this “trader” said is true…the banks are going to get healthy again by making a risk free trade of borrowing money from the Fed and investing in treasuries…and right now the spread is too narrow to do profitably…but by cutting short term rates…they are getting closer to accomplishing this. I suppose the theory is that the Big 12…or whatever..banks can make this trade and earn a bunch of profits…and it will enable them to again take risk on regular loans…and it will filter down to the rest of the economy.

So…..at the end of the day….I guess we as taxpayers all foot the bill for this experiment….as we (I say we as if we are the government…yea right)…are basically..if they keep cutting rates and the banks and wall street get their wish…We…will be paying interest of 4% on government debt….while loaning it out to someone at 2% (although We is not exactly the fed…in theory…but that is an entire other discussion - see Ron Paul)  so we can pay them 4%…so we are loaning money to someone at a loss…and eating the difference (We is the government again…in case you are confused).

This theory allegedly has worked many times in the past (per the trader on CNBC)….and it will work again if we could just get the fed fund rates to 2%…and if the treasuries can say at 3.5%…the banks can start making money again..

Knuckleheaded logic like this is what gets ”We” and she and everyone else in trouble.  I need to get to Belize next week.   

Liked your version….here is the ‘original version’. Best Farmboy

Dere’s an ol’ man called de Mississippi
Dat’s de ol’ man dat I’d like to be!
What does he care if de world’s got troubles?
What does he care if de land ain’t free?

Ol’ man river,
Dat ol’ man river
He mus’know sumpin’
But don’t say nuthin’,
He jes’keeps rollin’
He keeps on rollin’ along.

He don’ plant taters,
He don’t plant cotton,
An’ dem dat plants’em
is soon forgotten,
But ol’man river,
He jes keeps rollin’along.

You an’me, we sweat an’ strain,
Body all achin’ an’ racket wid pain,
Tote dat barge!
Lif’ dat bale!
Git a little drunk
An’ you land in jail.

Ah gits weary
An’ sick of tryin’
Ah’m tired of livin’
An’ skeered of dyin’,
But ol’ man river,
He jes’keeps rolling’ along.

Colored folks work on de Mississippi,
Colored folks work while de white folks play,
Pullin’ dose boats from de dawn to sunset,
Gittin’ no rest till de judgement day.

Don’t look up
An’ don’t look down,
You don’ dast make
De white boss frown.
Bend your knees
An’bow your head,
An’ pull date rope
Until you’ dead.

Let me go ‘way from the Mississippi,
Let me go ‘way from de white man boss;
Show me dat stream called de river Jordan,
Dat’s de ol’ stream dat I long to cross.

O’ man river,
Dat ol’ man river,
He mus’know sumpin’
But don’t say nuthin’
He jes’ keeps rollin’
He keeps on rollin’ along.

Long ol’ river forever keeps rollin’ on…

He don’ plant tater,
He don’ plant cotton,
An’ dem dat plants ‘em
Is soon forgotten,
but ol’ man river,
He jes’ keeps rollin’ along.

Long ol’ river keeps hearing dat song.
You an’ me, we sweat an’ strain,
Body all achin an’ racked wid pain.
Tote dat barge!
Lif’ dat bale!
Git a little drunk
An’ you land in jail.

Ah, gits weary
An’ sick of tryin’
Ah’m tired of livin’
An’ skeered of dyin’,
But ol’ man river,
He jes’keeps rollin’ along!

http://www.youtube.com/watch?v=NhqPASDfJmk

…snagged off of http://jessescrossroadscafe.blogspot.com/

I figured out a few weeks ago that Ryan’s was in trouble….and they are the largest tenant of Realty Income (symbol is O).  I figured it was a waste of energy to short it….O…as Ryan’s is only 8% of their revenue….and at the end of the day Ryans will try to keep most of the units (the initial flush is just the debt…)…and O sold off some of the poor performing units over the past 2 years (or so the CEO says on analyst calls).  O fell from 30 to 22….but unless they have more tenant defaults it will probably hang out here for awhile..and O was by far their largest tenant…

I am not sure why anyone would want to be in the Buffet business.  The sector is littered with companies that have been in and out of bankruptcy..some are no longer around:  Quincy’s (out of business), Ryans, Barnhills (Dec 07 Bankruptcy), Western Sizzlin (bankrupty years ago), Old Country (merged with Ryans…Bankrupt)…  The only survivor is Golden Corral…and they churn thru units  like their is no tomorrow (failure rate is high).  Catering to people who want to eat 3 pounds of food for $3.99….on the surface seems like not a very good idea…  The spoilage rate on the food is high…plus the cost of the food itself (and the gas to get there in the first place) keeps rising…so I would struggle to think of a worse business model!

Whats that you say?

You mean, Canada has not sold its economic future, (several generations worth?) down the drain. You trying to say, Canada has not sold its future? Is relying on the gracious gifts of foriegners to pay thier debt? You mean,…..Canada has yet to go begging to the Saudi’s for lower oil prices/increase production? You folks dont need the handouts of Billions from China just to hold things together?

Somedays, I wish I was a Canadian. Got this feeling, I will have more days I think, feel like that. You know, somedays….I think the ways of us Americans…..well….somedays I know the chickens will come home to roost. And I frankly dont see much changin in that regard. As Americans still seem driven to ‘vote for change’….and yet, those votes are/will be electing….those who speak the word, but offer little in the reality of ‘change’. Makes for good sound bytes, and news though.

Will think, that Americans are truly ready for change….when the coin store shelves are empty. And we vote, for someone with a Zip Code different than Washington for President. In the mean time….just trying to kick back, and enjoy the show. And that, is what most Americans wish to hear/see….Even from the Fed….is a good show.

Best to you this evening. And yeah, I been spending a little time on your bench,….just thinking…trying to understand it all.

Best, Farmboy

adapted from john hiatt

Down here the river meets the sea
And in the sticky heat I feel gold’ open up to me
fiat comes out of nowhere\, just like a hurricane
And it feels like rain
And it feels like rain

standing underneath the stars
Wondering … you are gold
And how do you do? (How do you do gold?)
When the fiat roll in across the moon
And the wind howls out get gold
and it feels like rain
And it feels like rain

We aint never gonna make that trade tonight
Across lake ponchartrain
and it feels like rain
And it feels like rain

Batten down the hatches

It looks like were in for stormy weather,
that aint no cause for us to sell
Just hide gold here in the manure wagon
and let gold wash away the pain
Feels like rain
And it feels like rain

can you feel it
feel it, feel it,
feel it, feel it
can you feel it
can you feel it

listen to the sound of the river geeettttt ggoolldddd

Hey, sounds like you may soon need to find a more southern clime for your address. (Know you are happy to hear of a serious offer for that snow blown current place, grin)

If you like, can probably arrange a 6 pack of snowballs to take with you….just in case you get ‘homesick’. LOL

Sounds like you hit the Belizean sands running, and TCB. (Takin Care of Bizness). Carry on brother, upward and onward as ole Winedoc would say.

While I am with you in spirit, and heart, got to tell ya, its been a might on the cold side even in the SE. (Wanka must be wrapped in a couple Electric Blankets, and have TWO pairs of those sissy lookin slippers trying to keep his delicate toes warm. grin) Had to get a crowbar and pry the chickens off thier roost the past couple days. The hens are threatening to go on strike (oh my gosh…no real eggs!) unless I agree to get them pedicures. Something about thier feets, specifically thier toenails are suffering from the snow and ice.

Remember the little ritual we once performed for ole Redneck…..?? Well, gonna ask you do the same for both of us, (Redneck and me) this evening. Hope you can handle three Belikens….in remembrance of us left behind in the frozen land.

Better make that four Belikens….as I know at least one person in Alabama that is freezing his tail off, and wishing he had a heated green house this evening.

Hope you been able to follow the US Markets past couple days. Dont reckon anyone has been ‘bored’ lately. Have to admit, what cutting the Fed Rate by 3/4 a point is supponse to do to ‘fix’ the mulitude of sins in the markets…well….guess I cant quite figure that one out. Sounds good though….seemed to impress the Fall St folks a little today? Frankly, my thoughts are it might be of some help to those Bankster types who have written off 100 BILLION in subprime loans. Dont exactly see how it will mean much to the average Joe….??

Course, it was exciting to see a forty….count em….forty point move in Gold today. Cant remember ever seeing something like that. Do think…..might see a few more days ahead, even bigger perhaps….as this ole world gets an edutation in what is ‘value’, and safety. Seen where the 2 and 5 year Treasury notes are below 3 percent. Kinda makes ya wanna park all your funds there dont it? LOL??

Still figure tonight, a little gold, a little silver….a passport, an offshore bank account, and owning a little sand in Belize….just might get a few folks through the times, yet to come. (Still think, the problems in the US Economy, aint gonna be solved by no Fed Rate Cut….or some politicians in Washington handing out ‘Free Checks’).

Like the ole hippy song says….”The Times, They Are A’Changin”….seems so few can understand, or willing to accept….FACTS,…or merely consider even, that the ‘System’ is corrupt, and doomed to fail. Think somedays, I will just sign up for another Credit Card, try to use the Home ATM, or borrow on the 401K, or even an insurance policy….just to keep up appearances. (grin)

And by the way. You know all that ammo I bought back during the Y2k years…..well it seems it has done almost as good as the gold and silver. Even finding that some rounds are not available at any price? Somebody ought to do some research on that one. Good news, is the price of MRE’s have not gone up a whole lot. But then, why would one need to open that brown plastic package, when they can walk out thier front door, and pick up a couple lobster for dinner?

Speaking of waking out the front door…..hope you have the chance to pick up a coconut, and pour yourself and friends a Coco Loco.

Guess I better end this post. Fingers growing too numb to type from the cold. (grin)

Wiggle yer toes in the warm sands for me. Best, Farmboy

http://tinyurl.com/2vze7b

Free e-mail …. special edition …. covers current situations and some suggestions …. not investment advice. 

http://tinyurl.com/3deemh