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Society & Culture Archive

Obama Admin. Rubbish of the Day: President now says wounded Vets need to pay for their own care

President now says wounded Vets need to pay for their own care: http://bit.ly/xT2RM Seriously. Who did we just elect?

Source: news.yahoo.com
The leader of the nation’s largest veterans organization says he is “deeply disappointed and concerned” after a meeting with President Obama today to discuss a proposal to force …

Street team covering the NYC Tea Party. couldn’t wait for Rick Santelli

Cut our first street interviews video for FINZ.tv this week!  Trying to branch out with various types of trading, markets, and economic related videos so here’s our first attempt at getting out there and taking the pulse of the public for some opinions away from the trading desk. Because as we all should know, opinions and emotions should be kept out of trading since the market is always right.  But alas, we are still people, with thoughts, and citizens of this great country and should/do care about the way our country is run.  I mean, we ARE a democracy, aren’t we? (though that definition seems to be fading by the day). So check out the video… Street Team: Coverage-Chicago Tea Party with Rick Santelli? How about a NYC Tea Party.

P.s. thanks to NYC Tea Party Kellen Guida (@parcbench on twitter) as well as interviews with rally attendees Elizabeth Yannone and Steven E. Eiselen.

Oh, and, spur of the moment, I decided to head out to NYC tonight! Taking the redeye out of Long Beach airport, getting to NYC friday morning so I could be at the CNBC Fast Money/Optionmonster Tweetup for the Friday broadcast of Fast Money at the NASDAQ market site in Times Square.  Please email me or message me on twitter if you’re free and in the NYC area!  I’ll be in NYC Friday till Sunday and would love to get together.

And if you have any questions for the Fast Money traders, or any ideas for videos we could do for FINZ, let me know too! Even if you can’t be there, we’ll try to get stuff across for ya!

CNBC’s Rick Santelli leads the trader mortgage revolt. Join his “Chicago Tea Party?”

n68704930659_3935 Vote “YES” on this CNBC poll: http://www.cnbc.com/id/29283701

Then sign up for the Tea Party on Facebook: http://www.facebook.com/home.php#/event.php?eid=68704930659&ref=mf

I’ll be going to the Santelli’s Chicago Tea Party- Will you? Hit me up on twitter if you are!  We owe it to our fellow citizens.

Don’t do it Timmy Geithner! Don’t do it!

If our largest debt holder (China) is concerned with our country’s solvency, how concerned should we be? (Bloomberg: China Needs U.S. Guarantees for Treasury Bond Holdings, Yu Says)  Yes the financial crisis has carried on for a while, we’ve heard speech after speech and testimony after testimony by Bernanke and Paulson. And everytime someone opened their mouth, the market got nuked.  But today’s market implosion before Timmy Geithner even got up to the stand felt just a notch more pessimistic.  The chatter. The fact even the media didn’t try (or finally couldn’t) help Geithner come up with a “hopeful” scenario and try to cheerlead the market higher.  LiBOR (London Interbank Offered Rates) ticked higher, showing more fear and the continued seizure of the credit markets.  Even if credit markets thawed a bit, less and less people have the means to buy a home.  Heck, even those renting might have to move back home if they continue to struggle finding a job.  I appreciate the Pres. Obie and Timmy G. trying a PR “change” and telling the truth about how bad it is (vs. the Bush/Paulson team of saying, just give us more money and we’ll fix it).  Telling how bad it is is one thing, but leaders show fear and say upfront that they don’t know what they’re doing is not the honesty we need. It’s time to show some real leadership Obie. It’s not a campaign anymore.  This is for real.  The world, not just our country, is collapsing.  Obie and Timmy G.:  either step up or, if you don’t think you have all the skills to handle it, step down. No one will think less of you for it. It’s too big of a task for any one man.  Don’t let pride (not being able to admit it’s too tough for you and that someone else may do better) be the reason the world implodes…and we’re imploding.  Still being concerned with the sideshow of corporate Jets and remodeled offices tells me you DON’T know how bad it is out there.  With unemployment this high and problems piling up everyday, social unrest about to rear it’s ugly head.  Corporate jets and remodeled bathrooms will be the last thing you’d think of by then.

p.s. like I said on twitter, round up a bunch of people like the Manhattan Project for the A-Bomb, and throw these people in the desert till they figure out a plan.

**FINZ.tv Trading Media & Entertainment, the new site I’m producing with my partner TraderAlamo, will launch videos this sunday.  Until then, read our “POSSE Traders Journal” blog along with other FINZ.tv POSSE: BHBGroupTrader, Chris Nelder, Daytrend, James Falvo, Jeffrey McLarty, Alamo, and Myself. **

And thanks to my trading mentor and friend Quint for this video when the trading days get to wild. Only trading nerds would’ve known about this video fo’ sho:

Selling Girls in China to Adopting Parents. What’s it worth? My Perspective

If people missed out on this offshoot conversation coming from this article via twitter.. a review:

ryamada @JeffreyLin More seriously, I do know a Cornell econ prof that wants to look at the arbitrage market for adoptions of young girls from Asia

JeffreyLin @ryamada arbitrage in terms of…money? any life here is better than a life there almost definitely

ryamada @JeffreyLin Question: if life (especially as a girl in China) is so cheap, why does it remain so expensive for American parents to adopt?

ryamada @JeffreyLin Presumably there are factors (norms, politics) that prevent the “market” from efficiently eliminating the arbitrage opportunity

continued…

I believe you have to cast aside your analytical mind and wear the shoes of a compassionate person. i can not look at this from a monetary/politics/ or even a social standpoint. you have to go smaller. its about people. no, the person. imagine ur a parent. how desperate would you have to be, if you loved your child, to have to sell that child? you would most likely be in a lot of debt, a druggie, or barely able to support yourself. as your kid came along, you cannot support them. either you sell the child or you both die. so, its not just about “how much it would cost to feed/raise that child.” you’d want enough money to feed yourself for a while, to get by, and thankful someone else can give your kid a better life.

the adopting parents are willing to pay, able to pay, and compassionate enough to pay. after all, your giving money to the parent of your adopted child.

with that said, these emotions probably ring louder for me because “selling young girls” have been a big part of chinese culture and history going far far back. There have been women I know, related to, and/or heard in stories that were sold when they were girls. They were girls whos parents were too poor to even feed themselves and the hardest decision was to sell the girl just to live another day. Unless you’re psycho, and i know some are, it is not normal and not easy for a parent to give up their child. And even if it seemed that way when they gave them up, they might’ve been too young, but regret it later and want to find the child again. (too much lifetime tv, television for women). Many chinese girls, all throughout history, were sold as maids to wealthy families. The social gaps were just too great. The poor, farmers or whatnot, could barely have enough for themselves, and the landlords could live on their riches forever.

Another case is when girls were sold for money so the son could have a proper wedding. Again though, it is because a lot of people were so poor, but also because of the traditional importance of the male “namebearer” in the family, when time came where the family needed a big chunk of money, the only option was to sell the daughter.

This isn’t just a Chinese historical culture thing or with girls. A similar story was told in the movie “A Knight’s Tale” where Heath Leger’s character was sold to a knight when he was a young boy.

so why do people do something that seems overpriced, or irrational? things like this i don’t believe is about the money. you could observed this in ancient china or today, the amount of money paid for the girls would be different, the form of money is even different, but what stays the same is how the parents, adopting parents, and the adopted child feels. there is no “logical” price on love and human connections. that is why parents, when their kids have been kidnapped, would give up everything and take on debt or do just about anything to have their child back safely. you can work to get back money, even if u have to work in McDonalds or scrub toilets, but u can’t revive a person.

FlyboysFund Website Charity Donation for 2007

As promised, I’ve donated all of the revenues I earned last year from this site though Google Adsense. Thanks to the visitors in 2007, I earned $103.99 from the Google ads on this site.

Google Adsense 2007 Payment

Tonight, I donated that $103.99 to March of Dimes.

March of Dimes 2007 FlyboysFund Website Donation

Thanks to all the visitors and supporters of this site.  I know seeing the ads sometimes gets annoying, but I hope knowing that I do put the income from the ads to good use makes them more bearable!  I post to this blog more for myself and keeping my trading thoughts straight, so it wouldn’t be right if I kept any of the money.

However I’m glad some of you have found these posts even remotely helpful to your trading/investing.  Yes, I’d admit half the time I’m not sure if I’m saying the right thing.  Then again, if you’ve got a 50% success rate in this business you’re considered pretty good. As we push on through this recession and this bear market, I hope all this will be a great learning opportunity to become that better of an investor/trader when the bull market does return. I know I’ve learned more in the first quarter than ever.

I will be launching a site I’m making for fun to gather online resources for doing homework on our stocks.  I have registered the name SuckingLess.com for this purpose, so keep an eye out for when I put that up and I hope you’ll all contribute something and help everyone do homework better and faster!  Why call it SuckingLess.com?  Like I said, a 50% success rate in this business is considered pretty good, but that still means half the time we suck!  So, the plan is, if we can help each other do better homework, and suck less, we can make more bling.  Until then, bling bling, and take a look at March of Dimes and make a donation if you can. If you already have a favorite charity, please write in and let me know where to donate my 2008 website earnings!

March of Dimes Mission Statement

“Our mission is to improve the health of babies by preventing birth defects, premature birth, and infant mortality. We carry out this mission through research, community services, education and advocacy to save babies’ lives. March of Dimes researchers, volunteers, educators, outreach workers and advocates work together to give all babies a fighting chance against the threats to their health: prematurity, birth defects, low birthweight.”

 



The Julia Trip is Here!

Utah ’till Monday!  Going to the Miss Utah USA pageant to fan Julia‘s flame! (and fame!)…hang out with Julia, her family, and Diana!  Best weekend ever?  It will be!  The most anticipated event of the year is here.  And no, it’s not because that rhymed.

Fed Sets Up for Possible Rate Cut

I think more important part of the Fed dropping the discount window rate by 50 basis points to 5.75% for 30 days was the accompanying FOMC statement:

“Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward. In these circumstances, although recent data suggest that the economy has continued to expand at a moderate pace, the Federal Open Market Committee judges that the downside risks to growth have increased appreciably. The Committee is monitoring the situation and is prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets.”

To me, that says the Fed has changed it’s stance from fighting inflation to addressing the economic impact from the mortgage problems and credit crunch.  Instead of having to wait for the September meeting to change it’s stance, now we have a possible rate cut in September if the data will allow the Fed to do so.  Keeping the window open for 30 days takes us to the September Fed meeting at which point the Fed can assess the effects of this move today.

Why’s China Wasting Lead to Poison People?

With lead prices about tripling over the past year alone, what a waste it is for Chinese factories to leave lead in paint and stuff when they could be making some side cash with that lead?  Sorry, cynical joke for a down day.  In this day and age, NO ONE..NO ONE should get lead poisoning, and not just because lead prices have skyrocketed.

Econ Textbook Scifi Come to Life

The last time I heard things like “The Fed’s discount window” was about 4 years ago in college for econ class.  The text only glanced over it as part of the FED’s mandate…or rather maybe I glanced over it.  But I’m sure the text didn’t talk about the effects of such moves like the FED did on Friday because frankly, the FED hasn’t had to be the lender of last resort much and each instance and the following effects were different.  Now that people are losing homes, funds are blowing up, and my portfolio’s taking hits- econ textbook’s coming to life!

What I’m wondering is, what would happen if the FED did cut, but only 25 basis points (bps) or 50bps just to give people confidence (since I believe rate moves by the FED doesn’t filter through the system for 6-12 months???).  Then, after things settle down, they bump it back to 5.0% or 5.25% where they’ve held it thus far?  I feel like the FED was reluctant to do what it did on Friday, but HAD TO follow suit of the other central banks.  Or maybe because some AXA money market fund in Europe dropped 20% and the savings of people who have nothing to do with the U.S., let alone U.S. mortgages, got destroyed.  Just feels like the FED was pressured in after their statement on Tuesday…and FED governors coming out on Friday saying “oh we inject liquidity into the system all the time” to save face.  Maybe the FED thought the U.S. economy was strong enough to weather the storm, and let some hedge funds and mortgage companies blow up would rid the U.S. of weak links.  But I suppose the EU didn’t think it’s financial system is as strong, because that was some ginormous bailout by the European Central Banks.

I don’t know if lowering rates is the right answer…if there is such a thing as a right answer.  Might things already be at the point where a rate cut wouldn’t solve the immediate problem?  Maybe the right thing to do was not to raise rates to 5.25%.  So what happens now?  Do we go down with or without a rate cut, and only hoping rate cut would limit the damage and make the bounce come sooner?

…confused and uncertain about the road ahead.  Appreciate everyone’s comments and thoughts!