On the edge of a precipice

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

[FreedomFarmer]

It was poultry in motion.

A fowl remark.

_{I'm not pecking on you:-)}

[PJ-Comix]

Ronald Reagan had a great line with that. I think it was in the movie "Hong Kong" which co-starred Rhonda Fleming (I think).

Anyway, Reagan's character in the movie told Fleming something like: "We had a great deal just after the War. We would buy military surplus low and sell high. It couldn't lose."

Fleming: "So what happened?"

Reagan: "We lost."

[dennisw]

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.

---> You boosted that place a few years ago here. How come I remember this and not more the important things?

[al-andalus]

I thought you were going to say that one of the Japanese jumped out of the taxi being pursued by hookers and asked you: "Waffo doggee style?"

If you liked The Pantry, you'd like the Apple Pan on Pico. (Great hamburgers served at the same location since the 1920s.)

[2sheep]

>On the edge of a precipice

Or deck, balcony, cliff.  There have been lots of warnings.

[al-andalus]

Someone should do a thread on LA dining. I love old joints like the Pantry. There's also Musso & Frank's in Hollywood, but not too many more.

[PJ-Comix]

If you liked The Pantry, you'd like the Apple Pan on Pico.

Pico near Westwood Blvd? Been there.

[logician2u]

. . for the most OUTSTANDING breakfasts in L.A., one must check out the Pantry Cafe in downtown L.A.

The Pantry?

Isn't that Riordan's joint? Seems like he had a run-in with the health inspectors once, but that was some time ago.

LA does have some long-established restaurants. Too bad Little Joe's finally bit the dust. (Doubt many Japanese tourists ate there unless they were lost.)

[al-andalus]

For years Tommy Lasorda kept Little Joe's afloat almost singlehandadly, used to eat there after Dodger games with his own little Rat Pack.

[al-andalus]

If you liked The Pantry, you'd like the Apple Pan on Pico.

Pico near Westwood Blvd? Been there

Obviously you are a fellow gourmand, sir. I doff my hat.

[Sally II]

policy makers, dazzled by Cramer, Glassman and their friends in the financial markets, deliberately removed the brake pedal from global capitalism. And, as any engineer knows, the brake pedal is what allows the machine to travel safely at speed.

That sounds pretty ludicrous to blame everything on the over-optomistic advice of Crameer, Glassman and "their friends in the financial markets". Sounds to me like Larry Elliot, the writer of this article, took their advice and lost his retirement fund. And now he's sore and bitter. Most people who have experience trading will take their cues from the market first and will consider the opinions of others second.

I also take offense to Larry's reference to stock traders and analysts as worshippers of Mammon. I'll bet anything Larry was singing a different tune 5 years ago. Some of us still do make a living off day trading. Just because he probably lost his savings in the market doesn't mean he has the right to go slinging insults at people. It looks bad when a person doesn't take responsibility for their own bad choices.

[gcruse]

Some of us still do make a living off day trading.

You must be awfully good.  :)

[WoofDog123]

I would have have said put the brakes on wholesale mania, i.e. dutch tulip mania, east india corp mania, trillion dollar internet.com mania, etc., as opposed to how the author phrased it. I assume gspan got some feedback after his irrational exuberance speech early into the irrational exuberance, since he was quiet after that.

I would note that I believe the clintons at least partly wanted brakes off the market because citizens seeing themselves making more money are less likely to demand their president be impeached/removed.

[WoofDog123]

re taking responsibility for choices; as you know in the securities business that kind of attitude is a huge legal liability just waiting to detonate. Some of the stories I am seeing/hearing are stunning.

FWIW, I have strong doubts that cramer is even a good trader. I think he was the publicity arm of his hedge fund, since he came across on cnbc in a way that a lot of viewers liked apparently...from his comments, egomania, I find it hard to believe he was successful trading over any period of time, unless it was working completely at the subconscious level and ignoring his own conscious thoughts. OTOH, I have known people with long-established track records that were quite stuck on themselves, so who knows.

[PJ-Comix]

LA does have some long-established restaurants.

Like Felipe's near Union Station. It specializes in French dip sandwiches. Another great spot.

[RipSawyer]

Then, why have I been hearing for so long that it is to our advantage to allow all our manufacturing to move to other countries? If it is bad for Japan to stop manufacturing why is it good for the US? Can you imagine someone 200 years ago trying to tell the citizens of a young USA that they would be better off importing all manufactured goods than attempting to create their own? Didn't I hear that one of the major reasons that General Lee finally had to surrender was that the Confederacy was dependent on agriculture and had very little manufacturing capability? Should we feel safer knowing that we have shut down a large part of our defense industry? Can we buy cruise missiles cheaply from Taiwan. Are they coming to take me away?

[PJ-Comix]

We manufacture information. The "stuff" based on that info can be made anywhere. BTW, in agriculture no nation can ever match us. Which reminds me. How is Ukrainian wheat production nowadays? When they were Commie, there were wheat shortages over there even though the Ukaine was known as the "breadbasket of Europe."

[RipSawyer]

I don't know about the Ukrainian wheat fields but I get the impression that the Russian people are so demoralized that all most of them want to do is lie around and drink vodka. It may take generations before they have the can do spirit to make something out of the natural resources which they apparently have had in abundance.

[PJ-Comix]

You are a few years out of date. Things are actually improving quite a bit in Russia. The main thing they have to do over there is destroy the power of the Russian Mafia but things have improved quite a bit recently. I guess we have to give Putin the credit for that.