Archive for July, 2008
Friday, July 25th, 2008
Why I’m Stuffing $50,000 Under My Mattress
I’ve just about lost all confidence in the banking system. Ben Bernanke lost me at “well contained” and Sheila Bair lost me at “The blogs were a bit out of control” and Paulson lost me at “sound financial banking system.” But what really broke this camel’s back was this idiot in this video laughing it [...]
7 Comments » - Posted in Financial Safety,The Fed,Watch Out by RichSlick
Thursday, July 24th, 2008
And Then The Orgy of Lawsuits Hit Like Another Financial Tsunami
It’s getting hard for me to keep up but I’ve been reading about the plethora of lawsuits filed by city, state, and others against various investment firms and banks for all sorts of crazy things. In San Diego, the city has filed lawsuit against Bank of America to keep the bank from foreclosing on homes. [...]
No Comments » - Posted in Financial Safety,Watch Out by RichSlick
Thursday, July 24th, 2008
Why Can’t I Block Calls On My BlackBerry?
One of the most frustrating things with modern technology is why I can’t do simple things with it. Some how my cell phone is being inundated by calls from two phone numbers selling car warranties I don’t want. Every time I see the number on my cell, I know exactly who it is but all [...]
3 Comments » - Posted in Rants by RichSlick
Wednesday, July 23rd, 2008
Why Don’t People Understand The ONE REAL Problem With The Economy?
I was reading Lazy Man and Money’s post entitled, “Help Me, I’ve Been Evicted” and while the post depressed me a bit, it also aggravated me about the general ignorance and malaise from America’s sheeple. While I don’t know the particulars of this individual’s situation, I do know one thing: a large part of the [...]
No Comments » - Posted in Money Management by RichSlick
Tuesday, July 22nd, 2008
SEC Shorting Rule Creates New “Bull Squeeze”
There’s an old saying, “You can’t keep a good short down” and you can see that Bank of America under went a “bull squeeze”, those people that rushed in to go bullish after the SEC banned naked short selling gave bulls confidence to run in and try to make some profit on the assumption that [...]
No Comments » - Posted in MMO by RichSlick
Monday, July 21st, 2008
Dangerous New Wave of Inflation Coming This Week
The minimum federal wage will increase from $5.85 to $6.55 this week which represents a twelve pct increase in pay for workers and a 12 pct increase in cost for business. You can read more about that here. In addition to the minimum wage increase, the Financial Times is reporting that many food companies are [...]
No Comments » - Posted in The Fed by RichSlick
Sunday, July 20th, 2008
Used Cars Cost Now Cost As Much As New Cars
So much for frugalism as used cars are approaching cost of new cars in the “efficiency model” market. Remember all those frugal tips such as “buy a used car,” well do you still buy a used car if it costs as much as a new car? According to this article on Yahoo, used cars are [...]
2 Comments » - Posted in Observations by RichSlick
Sunday, July 20th, 2008
Leveraged Financials Yielding 10% in less than 28 Days!
UYG is moving up on my list of favorite ETFs. The financial market has been battered by a hurricane of bad news and Uncle Ben has flown in with his helicopter to save the world. If you look at the August in-the-money strikes for UYG, you’ll find that they are trading for 10% premium which [...]
1 Comment » - Posted in Easy money,Evil Profits by RichSlick
Friday, July 18th, 2008
Avatar The Last Air Bender
Almost every night when I come home from work, I ask the kids to change the channel from Disney or Nickelodeon to CNBC, Bloomberg or MSNBC so I can catch up on the day’s news. “I don’t want to watch any more cartoons or Zack and Cody!” I usually bellow but this week I indulged [...]
No Comments » - Posted in Misc by RichSlick
Friday, July 18th, 2008
Prosper Membership Crashing?
With the prospect of major banks failing and the panic surrounding investment banks, it’s always intriguing to see how smaller social capital markets are fairing so I took a quick gander as Prosper stats here. It seems to me that prosper membership growth is crashing hard. The borrower/lender ratio is a bit worrying too. I [...]