Random Predictions...

[GRG55]

When times get tough, the tough go off the deep end.


A few random predictions for later in 2009 [after my second cup of coffee this am]...

• At the first faint hints of the second half economic recovery [currently scheduled to make an appearance on July 1] Nouriel Roubini will turn into a raving bull. He will quit his job at Stern School and convert RGE Monitor into a long-only investment fund.
• Amid falling poll numbers, President Obama will fire Larry Summers..."Larry Summers came to Washington to help me save 4 million jobs" the President will explain. "Unfortunately he seems to have forgotten that one of those was supposed to be mine". The President's parting words to Summers will be "...and take that boy wonder Treasury Secretary with you..."
• Paul Krugman will renounce his Nobel Prize. "A life filled with inane television interviews is no life at all" Krugman will write in his letter to the Nobel Committee. "All this partying with European royalty is killing me". When asked what his future holds Krugman's response will be "I look forward to returning to obscurity. Another little-known Princeton economist, Ben Bernanke, and I have plans to research policy options to completely eliminate the role of the private sector in developed economies".
• President Obama will nominate Michael Jackson as his new Treasury Secretary. "We brothers got-ta stick tooo-gethaa..." will be the President's only comment.
• Charles O. "Chuck" Prince, III will appear as a contestant on Dancing With The Stars. When asked to describe his experience Prince will claim "I still can't stop..."
• Unable to find employment in the financial sector, John Thain will open an interior decorating boutique in Lower Manhattan.
• Hank Paulson will join the Bill and Melinda Gates Foundation as a vaccine consultant. Paulson will tell the press "Who could possibly know more about contagions than me?"
• In an updated version of Texas Chainsaw Massacre, Laura will present W with a new Stihl as a retirement present. Interviewed at Crawford, the former President will tell the press "Running the US economy is just like clearing brush. You chop it into little bits, pull out all the roots, and set FIRE to the pile."
• The NRA will reject Dick Cheney's application to become its next President. When pressed, NRA officials will admit that Cheney wanted to re-enact the opening sequence from the Beverly Hillbillies, with himself in the starring role..."Although we hold the former Veep in high regard for his exceptional firearms handling skills, we felt that promoting the NRA as an organization that can help the USA become energy self-sufficient, by finding oil with a gun, detracted from our core message".

Time to go pound some nails on the bunker.
Have a good one...;)

[GRG55]

Re: Random Predictions...

...A few random predictions for later in 2009 [after my second cup of coffee this am]...

• ...Unable to find employment in the financial sector, John Thain will open an interior decorating boutique in Lower Manhattan...

Getting closer...;)

Thain Says He Should Have Furnished Merrill at Ikea

Sept. 18 (Bloomberg) -- John Thain, the former chief executive officer of Merrill Lynch & Co. who was accused of overspending on an office renovation as the broker teetered, said he should have bought less-expensive furniture at Ikea.

“We decorated it in the style that Merrill Lynch offices were, which was very, very nice,” Thain said yesterday during a speech in Philadelphia...If I had that to do over again, I’d furnish it in Ikea.”...

...“John, stop by Ikea anytime,” said Mona Astra Liss, a spokeswoman for the retailer, known for assemble-it-yourself furniture and in-store restaurants. She offered to show “a wealth of furniture choices” for home and office, “and feed you Swedish meatballs, too.” Ikea, founded in Sweden and registered in Leiden in the Netherlands, sells a 3-drawer chest for $49.99...

[Verrocchio]

Re: Random Predictions...

GRG55, please have a second cup of java more often. These are truly inspired!

[Milton Kuo]

Re: Random Predictions...

Getting closer...;)

Thain Says He Should Have Furnished Merrill at Ikea

Sept. 18 (Bloomberg) -- John Thain, the former chief executive officer of Merrill Lynch & Co. who was accused of overspending on an office renovation as the broker teetered, said he should have bought less-expensive furniture at Ikea.

“We decorated it in the style that Merrill Lynch offices were, which was very, very nice,” Thain said yesterday during a speech in Philadelphia...If I had that to do over again, I’d furnish it in Ikea.”...

...“John, stop by Ikea anytime,” said Mona Astra Liss, a spokeswoman for the retailer, known for assemble-it-yourself furniture and in-store restaurants. She offered to show “a wealth of furniture choices” for home and office, “and feed you Swedish meatballs, too.” Ikea, founded in Sweden and registered in Leiden in the Netherlands, sells a 3-drawer chest for $49.99...

Even after an ignominious departure triggered in part by his spendthrift ways with company money, Thain is still insufferably entitled in that he still talks of buying new furniture, albeit from IKEA, for his office. Why not use the furniture that is already there from the previous occupant of the corner office? Or does Merrill Lynch allows its executives to take their furniture with them when they are fired?

The article seems to suggest that the Wharton students, like Thain, also failed to consider the idea of not buying new furniture. Terrific. Good to know there's a new generation of bozos to continue things after the current bozos are put out to pasture. :rolleyes:

[GRG55]

Re: Random Predictions...

...A few random predictions for later in 2009 [after my second cup of coffee this am]...

• At the first faint hints of the second half economic recovery [currently scheduled to make an appearance on July 1] Nouriel Roubini will turn into a raving bull. He will quit his job at Stern School and convert RGE Monitor into a long-only investment fund.

Not yet an investment fund, but apparently creeping in that direction...

Roubini Plans to Hire 17 to Expand RGE’s Market-Strategy Team

Nov. 3 (Bloomberg) -- Roubini Global Economics, Nouriel Roubini’s research and advisory firm, plans to hire about 17 people to expand a new team that advises investors on stocks, bonds, interest-rate products, commodities and currencies...

...The strategists will provide recommendations on broad asset classes and analyze “systemically important” companies such as banks and utilities, Das said...

[BiscayneSunrise]

Re: Random Predictions...

Too bad we'll never know if your prediction about Michael Jackson making SOT could have come true. Given that Mr Jackson handled his personal finances about as well as the current Secretary, he would have been perfect for the job.

[GRG55]

Re: Random Predictions...

• Amid falling poll numbers, President Obama will fire Larry Summers..."Larry Summers came to Washington to help me save 4 million jobs" the President will explain. "Unfortunately he seems to have forgotten that one of those was supposed to be mine". The President's parting words to Summers will be "...and take that boy wonder Treasury Secretary with you..."

From Yves Smith's Naked Capitalism blog today :

Democratic Rep. DeFazio Calls for Geithner and Summers to Be Fired

The knives are starting to come out. DeFazio claims the discontent among the progressive wing has become acute.

The Democratic Congressmen who have a operating brain cell know the considerable failings of Obama’s economic policies will be visited on them unless serious corrective action is taken in pretty short order...

[there's a short video interview with DeFazio at the link]

[we_are_toast]

Re: Random Predictions...

From Yves Smith's Naked Capitalism blog today :

Democratic Rep. DeFazio Calls for Geithner and Summers to Be Fired

The knives are starting to come out. DeFazio claims the discontent among the progressive wing has become acute.

The Democratic Congressmen who have a operating brain cell know the considerable failings of Obama’s economic policies will be visited on them unless serious corrective action is taken in pretty short order...

[there's a short video interview with DeFazio at the link]

This egg hasn't hatched yet. The Stimulus II jobs program along with the tighter financial regulation legislation, working it's way through congress, could postpone this prediction for a while.

[GRG55]

Re: Random Predictions...

This egg hasn't hatched yet. The Stimulus II jobs program along with the tighter financial regulation legislation, working it's way through congress, could postpone this prediction for a while.

Agreed.

But this is "Rant and Rave", so we're just having a bit of fun...;)

Geithner Resignation Calls May Increase as 2010 Election Nears

Nov. 20 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner, as part of a grilling on Capitol Hill yesterday, was asked by a Republican lawmaker to resign. It is a call he is likely to hear again and again as next year’s election campaign heats up...

...“For the sake of our jobs, will you step down from your post?” asked Brady, who first won his seat in 1996. “The public has lost all confidence in your ability to the do the job, and it is reflecting on your president.”...

...Republicans “gave this president an economy falling off the cliff,” Geithner told Brady, a former executive at his local chamber of commerce in the Houston area. “I can’t take responsibility for the legacy of crises you bequeathed the country.”...

Ouch!

The makings of a very entertaining bun fight on the Hill, non?

[we_are_toast]

Re: Random Predictions...

Agreed.

But this is "Rant and Rave", so we're just having a bit of fun...;)

Geithner Resignation Calls May Increase as 2010 Election Nears

Nov. 20 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner, as part of a grilling on Capitol Hill yesterday, was asked by a Republican lawmaker to resign. It is a call he is likely to hear again and again as next year’s election campaign heats up...

...“For the sake of our jobs, will you step down from your post?” asked Brady, who first won his seat in 1996. “The public has lost all confidence in your ability to the do the job, and it is reflecting on your president.”...

...Republicans “gave this president an economy falling off the cliff,” Geithner told Brady, a former executive at his local chamber of commerce in the Houston area. “I can’t take responsibility for the legacy of crises you bequeathed the country.”...

Ouch!

The makings of a very entertaining bun fight on the Hill, non?

I'm not sure I should be laughing or crying.

Just heard on the radio the administration has issued a statement of complete support for the Treasury Secretary. That's usually a sure sign you better update your Resume!

[jpatter666]

Re: Random Predictions...

I'm not sure I should be laughing or crying.

Just heard on the radio the administration has issued a statement of complete support for the Treasury Secretary. That's usually a sure sign you better update your Resume!

"The Treasury Secretary is fundamentally sound." :p

[GRG55]

Re: Random Predictions...

"The Treasury Secretary is fundamentally sound." :p

That was good!

[GRG55]

Re: Random Predictions...

I'm not sure I should be laughing or crying.

Just heard on the radio the administration has issued a statement of complete support for the Treasury Secretary. That's usually a sure sign you better update your Resume!

I just came across this blog...kinda humerous in a rant and rave sort of way...

Economists for Firing Larry Summers


This blog is devoted to seeing to it that Larry Summers gets to spend more time with his family.

This blog is written by Ph.D. students in economics at top 40 Ph.D. institutions and is devoted to seeing to it that President-elect Obama fire Larry Summers and cease using him as an economic adviser. We bear no special ill will toward Larry Summers, but American Economic Policy is too important to be left to someone who has been consistently wrong on fundamental policy issues in the past 20 years. His errors in both policy and in his academic writings are correlated with his ideological bent toward market fundamentalism. Given the special opportunity that this crisis presents to realize a better America, it is vital that the new administration not include Larry Summers...

[GRG55]

Re: Random Predictions...

Favorite Quote about Summers


"Larry Summers is to modesty what Madonna is to Chastity."
--Paul Gigot, 1995--

[FRED]

Re: Random Predictions...

I just came across this blog...kinda humerous in a rant and rave sort of way...

Economists for Firing Larry Summers


This blog is devoted to seeing to it that Larry Summers gets to spend more time with his family.

This blog is written by Ph.D. students in economics at top 40 Ph.D. institutions and is devoted to seeing to it that President-elect Obama fire Larry Summers and cease using him as an economic adviser. We bear no special ill will toward Larry Summers, but American Economic Policy is too important to be left to someone who has been consistently wrong on fundamental policy issues in the past 20 years. His errors in both policy and in his academic writings are correlated with his ideological bent toward market fundamentalism. Given the special opportunity that this crisis presents to realize a better America, it is vital that the new administration not include Larry Summers...

We wish the good folks at firelarrysummersnow.blogspot.com the best of luck.