On the edge of a precipice

The Guardian ^ | July 17, 2002 | Larry Elliott, economics editor

[Lurker]

He's a British Economics Editor (Hows that for an oxymoron...)

It pretty much means he hates both capitalism and guns. Also his attitude towards both of them pretty much sums up the sorry state of Britain today.

Regards,

L

[PJ-Comix]

I had a number of bizarre encounters with eccentric (to us) Japanese tourists in L.A.. One time I was walking near Sunset Boulvard when a taxi pulled up near me filled with Japanese businessmen. Then right behind them a car full of bleach blonde hookers pulled up and they were followed by yet another cab full of bleach blonde hookers.

The two cabs full of bleach blonde hookers unloaded as the Japanese businessmen sat passively in their cab. Then the hookers started screaming and tossing rocks at each other. Each group claimed they had the right to service the Japanese tourists. Hookers in L.A. loved Japanese tourists. They made few demands and tipped well. Also it didn't matter how ugly the hookers were. All they had to do was bleach their hair blonde and they automatically became incredibly desirable to the Japanese businessmen. As a result, almost all hookers in L.A. back then had bleach blonde hair. The Japanese would boink them and then would return to Tokyo and brag about how they bagged a "blonde." Amazingly, those Japanese would prefer an ugly Tori Spelling because she has fake blonde hair to a natural brunette Petra Verkaik (apparently no bragging rights in Japan for bagging a mere brunette who has a body to die for).

Getting back to my story, the two groups of hookers proceeded with their rock bombardment with each other until the ringleaders spotted me watching the scene with amused interest. They asked me to mediate the dispute which I did. I felt sort of like a UN diplomat negotiating a peaceful settlement to a regional war.

Hey, with that experience under my belt, maybe I should go on to mediate between India and Pakistan the next time things flare up over there.

[Vince Ferrer]

All of which explains why policymakers are a lot more concerned about the recent downward spasm in share prices than they are letting on.

[...]

...the Fed would then come under strong pressure to cut interest rates at its August meeting, and would almost certainly bow to it. There is, however, no guarantee that it would be effective in restoring confidence. Why? Firstly, it would be a small cut of only 0.25 percentage points from the already low level of 1.75%. Secondly, it might be counter-productive, seen as a sign that the Fed was panicking (which it would be).

These policy types want us to believe the only influence they have over the economy is setting interest rates, and we're almost at zero now. In fact, they have plenty of things they can do, like cut out government regulations that hurt business. There's plenty of junk in the Federal Register that needs to be cut out. But since that would require giving up some power, its obviously going to be the last thing they'll try.

[IGNATIUS]

Agreed,earlier WWII movies like Midway and Tora Tora wear better than Pearl Harbor with those eerie computerized special effects.

Re the markets ---the inability of AG and Bush to bully pulpit this stockmarket up is additional cause for concern.I believe it is way too early to jump back into bluechips or techs.For now making out nicely with unhedged/little debt gold miners--- some up 2-3:1 since Jan 1 plus paying dividends.

[dennisw]

I respect the Japanese who didn't throw the prime rib dinners in the garbage but gave them to good ol' PJ. If offered to me I would have taken them too. Was the bone in the prime rib? Boneless prime rib is a joke.

Boneless meats are a step backward. Boneless chicken breast is insipid with tofu having more taste.

[dennisw]

For now making out nicely with unhedged/little debt gold miners--- some up 2-3:1 since Jan 1 plus paying dividends.


----> Good move!

[PJ-Comix]

Lawry's was the best Prime Rib restaurant in L.A.. It was like Mecca for Japanese tourists. You think they were coming all the way to the USA just to eat more fish? No way! And Lawry's is where they almost all ended up.

[willyone]

No one is against reasonable immigration at levels that will not result in replacing the native population in a generation. Just think of the cost of the six hundred thousand elderly immigrants brought here, who never worked a day in the US and now get SSI. In a few years they will number over a million. The money supporting them could be spent on your family. Or are you too slow to see the connection?

[Lazamataz]

Boneless chicken breast

I once saw a boneless chicken ranch.

Not one of them critters had a single bone in their bodies.

It was poultry in motion.

[PJ-Comix]

Agreed,earlier WWII movies like Midway and Tora Tora wear better than Pearl Harbor with those eerie computerized special effects.

Also that scene with FDR talking about his wheelchair to inspire his men. Never happened. FDR only mentioned his wheelchair ONCE and that was just in passing following his return from Yalta in 1945. In fact it was considered to be taboo to even publish photos of FDR in his wheelchair back then. Amazingly a lot of folks were completely unaware that FDR was even confined to a wheelchair back then.

[gcruse]

Well, cutting federal spending would work. Start with eliminating the WOD, then kill off the agriwelfare just passed, that would be a good first step.

[dennisw]

http://www.lawrysonline.com/primerib/f_bhills.html


http://www.lawrysonline.com/primerib/m_recipes.html

[bloggerjohn]

The trick is to know whether you've hit the real bottom or the false bottom :')

[F.J. Mitchell]

You dog, you! LOL!

[rollin]

And your net worth has fallen how much in the last three years?

[gcruse]

Yes. It's as easy as buying low and selling high. ;)

[bloggerjohn]

I'm seeing fewer and fewer that say "Made in America"

[PJ-Comix]

I can attest that Lawry's has the BEST Prime Rib in L.A..... Even after it has been wrapped in aluminum foil. However, for the most OUTSTANDING breakfasts in L.A., one must check out the Pantry Cafe in downtown L.A. at the corner of 9th and Figueroa. One of the managers was also a Howard Stern fan and liked the comics that I was publishing at the time so he always made sure I had double portions at the one portion price.

[SamAdams76]

It's dropped some but I can't honestly tell you how much without digging out my latest statements. I don't spend a lot of time fussing over portfolios. I invest for the long haul and don't agonize over what they do day to day. I reckon I've got enough already to retire on but that's still another 20-25 years away.

[F.J. Mitchell]

"It was poultry in motion."

Feathered blobs, huh? Just oozing around the old coop.