TenBagger

http://www.nytimes.com/2009/02/22/your-money/stocks-and-bonds/22stra.html?em

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George W. Bush, July 15th 2008

"I'm not an economist, but I do believe that we're growing. And, uh, I can remember you know this press conference here that people are yelling recession this, recession that, as if you're economists. And um, I'm an optimist. You know what, I believe there's a lot of positive things for our economy."


Inside the Meltdown:

http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

Hour long documentary on the current financial crisis. Excellent overview tho a bit short on technical analysis. As usual, frontline delivers with an all star lineup for their interviews.

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I'm looking to sell up to 40% of myself for either the warmup or million tomorrow or both. I'm not the greatest tourney player at all but I'd think I'm slightly +EV.

http://officialpokerrankings.com/poke...E7C1272E458E9C924A7DE3E57579.html?t=2

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I need to ship 100 bucks to a friend on FTP, I'll send on PS.

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http://www.nytimes.com/2009/01/26/opinion/26krugman.html?_r=1&em

Paul Krugman's Op-Ed article from today's NYTimes tackles an issue that has been hotly debated here on LP. There are quite a few Americans on this forum that favor tax cuts and Reaganite supply side economics as a solution to our current economic situation and dismiss pre-bush tax levels as socialism, even though it's still low by our own historical levels and extremely low compared to other industrialized nations. I strongly disagree with that point of view and Krugman's article is totally spot on with my own opinion.

Here is an excerpt:

Next, write off anyone who asserts that it’s always better to cut taxes than to increase government spending because taxpayers, not bureaucrats, are the best judges of how to spend their money.

Here’s how to think about this argument: it implies that we should shut down the air traffic control system. After all, that system is paid for with fees on air tickets — and surely it would be better to let the flying public keep its money rather than hand it over to government bureaucrats. If that would mean lots of midair collisions, hey, stuff happens.

The point is that nobody really believes that a dollar of tax cuts is always better than a dollar of public spending. Meanwhile, it’s clear that when it comes to economic stimulus, public spending provides much more bang for the buck than tax cuts — and therefore costs less per job created (see the previous fraudulent argument) — because a large fraction of any tax cut will simply be saved.

This suggests that public spending rather than tax cuts should be the core of any stimulus plan. But rather than accept that implication, conservatives take refuge in a nonsensical argument against public spending in general.

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I have registered to play in the PokerStars World Blogger Championship of Online Poker!

This PokerStars tournament is a No Limit Texas Hold’em event exclusive to Bloggers.

Registration code: 337967

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95.77 bb/100 sustainable?



I also picked up 1000 shares of UYG monday morning @ $4.25 a share. It is now at 6 bucks thx to the US gov't and Carlos Slim.

I also found a 20 dollar bill walking home today in the park. And so I stopped by the bodega and used that money to buy 20 lotto tickets to the mega millions. one time!

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It's been said that you can't understand American politics without understanding Lee Atwater. I knew that he was the protege to Karl Rove and that he ran Bush senior's diry campaign in '88. But I didn't know the full story until I saw Boogie Man: The Lee Atwater Story on the PBS documentary Frontline earlier this week. This is truly a remarkable, eye opening show and I highly recommend anyone with an interest in American politics to watch it. I guarantee that you will find it fascinating.

This program aired on Frontline earlier this week and since it is unavailable on the PBS website, I had fenner host it here for you all to download:

http://66.246.76.11/Boogie%20Man-The%20Lee%20Atwater%20Story_HDTV_XviD~Ekolb.avi

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I got a 700 MB file that I would like to share. If someone can host it for me up to an agreed upon download limit, then I'll be willing to pay a fair price over PS.

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Not sure how many of you read the OP-Ed section of the NYTimes but Kristof had an excellent article today that I would like to share with the community. Goes well with my previous blog post which got a grand total of 6 page views. I copied it below but you can read it in the original format here:

http://www.nytimes.com/2008/11/09/opinion/09kristof.html?em

OBAMA AND THE WAR ON BRAINS

By NICHOLAS D. KRISTOF
Published: November 9, 2008

Barack Obama’s election is a milestone in more than his pigmentation. The second most remarkable thing about his election is that American voters have just picked a president who is an open, out-of-the-closet, practicing intellectual.

Maybe, just maybe, the result will be a step away from the anti-intellectualism that has long been a strain in American life. Smart and educated leadership is no panacea, but we’ve seen recently that the converse — a White House that scorns expertise and shrugs at nuance — doesn’t get very far either.

We can’t solve our educational challenges when, according to polls, Americans are approximately as likely to believe in flying saucers as in evolution, and when one-fifth of Americans believe that the sun orbits the Earth.

Almost half of young Americans said in a 2006 poll that it was not necessary to know the locations of countries where important news was made. That must be a relief to Sarah Palin, who, according to Fox News, didn’t realize that Africa was a continent rather than a country.

Perhaps John Kennedy was the last president who was unapologetic about his intellect and about luring the best minds to his cabinet. More recently, we’ve had some smart and well-educated presidents who scrambled to hide it. Richard Nixon was a self-loathing intellectual, and Bill Clinton camouflaged a fulgent brain behind folksy Arkansas aphorisms about hogs.

As for President Bush, he adopted anti-intellectualism as administration policy, repeatedly rejecting expertise (from Middle East experts, climate scientists and reproductive health specialists). Mr. Bush is smart in the sense of remembering facts and faces, yet I can’t think of anybody I’ve ever interviewed who appeared so uninterested in ideas.

At least since Adlai Stevenson’s campaigns for the presidency in the 1950s, it’s been a disadvantage in American politics to seem too learned. Thoughtfulness is portrayed as wimpishness, and careful deliberation is for sissies. The social critic William Burroughs once bluntly declared that “intellectuals are deviants in the U.S.”

(It doesn’t help that intellectuals are often as full of themselves as of ideas. After one of Stevenson’s high-brow speeches, an admirer yelled out something like, You’ll have the vote of every thinking American! Stevenson is said to have shouted back: That’s not enough. I need a majority!)

Yet times may be changing. How else do we explain the election in 2008 of an Ivy League-educated law professor who has favorite philosophers and poets?

Granted, Mr. Obama may have been protected from accusations of excessive intelligence by his race. That distracted everyone, and as a black man he didn’t fit the stereotype of a pointy-head ivory tower elitist. But it may also be that President Bush has discredited superficiality.

An intellectual is a person interested in ideas and comfortable with complexity. Intellectuals read the classics, even when no one is looking, because they appreciate the lessons of Sophocles and Shakespeare that the world abounds in uncertainties and contradictions, and — President Bush, lend me your ears — that leaders self-destruct when they become too rigid and too intoxicated with the fumes of moral clarity.

(Intellectuals are for real. In contrast, a pedant is a supercilious show-off who drops references to Sophocles and masks his shallowness by using words like “fulgent” and “supercilious.”)

Mr. Obama, unlike most politicians near a microphone, exults in complexity. He doesn’t condescend or oversimplify nearly as much as politicians often do, and he speaks in paragraphs rather than sound bites. Global Language Monitor, which follows linguistic issues, reports that in the final debate, Mr. Obama spoke at a ninth-grade reading level, while John McCain spoke at a seventh-grade level.

As Mr. Obama prepares to take office, I wish I could say that smart people have a great record in power. They don’t. Just think of Emperor Nero, who was one of the most intellectual of ancient rulers — and who also killed his brother, his mother and his pregnant wife; then castrated and married a slave boy who resembled his wife; probably set fire to Rome; and turned Christians into human torches to light his gardens.

James Garfield could simultaneously write Greek with one hand and Latin with the other, Thomas Jefferson was a dazzling scholar and inventor, and John Adams typically carried a book of poetry. Yet all were outclassed by George Washington, who was among the least intellectual of our early presidents.

Yet as Mr. Obama goes to Washington, I’m hopeful that his fertile mind will set a new tone for our country. Maybe someday soon our leaders no longer will have to shuffle in shame when they’re caught with brains in their heads.

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