Seven Deadly Sins of the Meltdown
Fabulous cartoon circulating by email -- if anyone knows of the original source, please let me know --
Source: Steve Breen, San Diego Union Tribune, 10/18/08
Monday, October 27, 2008 | 04:00 PM | Permalink
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Comments
To err is human; to forgive, divine.
Posted by: Wall Street CEO | Oct 27, 2008 4:06:04 PM
Dow drops ~200 points in 10 minutes...
Posted by: Phil | Oct 27, 2008 4:09:31 PM
Source: Steve Breen, San Diego Union Tribune, 10/18/08
Posted by: buzzp | Oct 27, 2008 4:09:57 PM
Great, just what we all need, more idiotic and stupid reminders of the devastation in the past month. Enough with the silly cartoons already.
Posted by: RT | Oct 27, 2008 4:11:13 PM
Did you leave out the utter ignorance and stupidity of the American electorate?
Oh, never mind. As a registered Republican, I actually came out here to complain about that little 200-point deterioration in the Dow at the end. What is wrong with you people? Didn't you see how Verizon beats expectations? Don't you like their clever "Dead Zone" commercials? Never mind that we can't make mobile phones; betcha those Finns, Germans, Japanese, and Koreans can't make such clever commercials. Those commercials, alongside Velveeta cheese, Chicken McNuggets, Coca Cola sugar water, and Mickey Mouse videos are the bulwark of American technical superiority and ingenuity. Hail McCain!
Posted by: CNBC Sucks | Oct 27, 2008 4:19:46 PM
We need to suspend payroll taxes as soon as possible. This is one of the few ways to stimulate demand in the way that will be beneficial to our society.
Posted by: Mike Sankowski | Oct 27, 2008 4:20:30 PM
Love the cartoons, Barry. Keep 'em coming!
Posted by: Jeff M. | Oct 27, 2008 4:21:06 PM
CNBC just post a article called the winners of 1929.
http://www.cnbc.com/id/27404980
Guess that is envy!
Posted by: Robert | Oct 27, 2008 4:23:25 PM
And God said to Cain...sin is crouching at your door. Thou mayest overcome it...
Then Cain killed Abel, who was an innocent bystander to Cain's sin.
Anyone else feeling like Abel to America's Cain?
Posted by: Donkei | Oct 27, 2008 4:43:17 PM
#RT:
It's exactly what we need -- to understand how we got into this mess; the cartoon really nails the problems.
Meanwhile, anybody else shorting the rallies? Off about 425 points from the day's high; there was a beautiful uptrend line to short. Exactly the opposite of the turbocharged bull market of the late 90's, when like clockwork the Dow would surge to new highs at the end of the day. Wonder how long this might go on for. NOT picking bottoms here!
Posted by: Dan | Oct 27, 2008 4:54:40 PM
@ Phil: Hedge fund forced sale?
Posted by: Patrick | Oct 27, 2008 4:57:22 PM
How true, how utterly and disgustingly true. Beware of #7.
Posted by: No | Oct 27, 2008 5:08:59 PM
"Great, just what we all need, more idiotic and stupid reminders of the devastation in the past month. Enough with the silly cartoons already."
Someone has been trying to catch the knives.
LOL
Posted by: Chris | Oct 27, 2008 5:09:31 PM
Original source: Pope Gregory I (Gregory the Great).
Posted by: Winston Munn | Oct 27, 2008 5:26:29 PM
If Chinese currency drops to shit it's rather easy for the US to pay off our debt.
Wonder if anyone has thought of this.
Korean Won worth 50% less this year than last.
Posted by: John Borchers | Oct 27, 2008 5:32:34 PM
@John Borchers: Still trying to talk yourself into being bullish I take it?
Posted by: Jeff M. | Oct 27, 2008 5:41:12 PM
Except for the cartoon being mildly funny, the goals of current American society are indeed the Seven Deadly Sins (however quaint that may sound).
Better and accurate examples are readily found. Not good.
Posted by: JAN | Oct 27, 2008 5:51:52 PM
Barringo:
Mazza ball is still hangin'.
Posted by: Eclectic | Oct 27, 2008 6:02:18 PM
Patrick,
BINGO on the hedge fund move(s). Paulson's PPT has gotten so transparent that the hedgies are playing him like a Stradivarus violin at least 4 times a day. What an idiot. Then again, it's our money not his so maybe we're the idiots.
As to the cartoon, I got some great laughs. Remember RT, tragedy plus time equals comedy. Remember Clinton's alarm clock speech? Never mind.
Posted by: AGG | Oct 27, 2008 6:14:53 PM
I think the cartoon was spot on. Man does not live on dry statistics alone :) Most of these cartoons posted here are quite clever and true.
Posted by: Rock | Oct 27, 2008 6:22:42 PM
A well-known student of human psychology from antiquity identified three characteristics of human nature that majorly contribute to disorder, conflict, and suffering in human affairs:
Greed
Anger
Delusion
Posted by: Mind | Oct 27, 2008 6:25:33 PM
Have to be bullish now. Only forced selling margin calls etc etc selling here.
Big insider buy on BBY. $25.9M in stock.
Posted by: John Borchers | Oct 27, 2008 7:00:22 PM
Nice, but it'd be better if the very modest house in the "envy" cartoon were less meager. It should show a person with a nice, adequate house envying a bigger, grander one.
And maybe there ought to be a couple of SUVs in the driveway of the envied home.
Posted by: Jon H | Oct 27, 2008 7:36:02 PM
@ Borchers. Totally agree that BBY is interesting. Market leader. Strong FCF. 5yr goal to double revenues to 80bn, in large part due to int'l expansion. L-T dollar should help. Top competitor is on the ropes - Circuit City fighting off bankruptcy. Not a great short-term view, but show me a company whose is.
Posted by: Patrick | Oct 27, 2008 7:38:32 PM
Well, since my thoughts are usually random, I've had a couple of additional randoms..
Why would people younger than the baby boomers expect boomers to want to return to this market in any appreciable numbers? First the tech bubble losses, and now this...and boomers are too old to make up the losses between now and retirement...
hmmmmmm????
Isn't what Paulson is doing really a transfer of wealth from taxpayers (read lower and middle classes) to those who work on Wall Street who may get to keep their job (and Henry's job after January)...isn't he buying back into his industry with taxpayer money? I mean, really....?
6.5% Countrywide callables reinvested today at 4.35% two year callables....no new money..
Good luck tomorrow...
Posted by: Bruce in Tennessee | Oct 27, 2008 7:47:33 PM
