Cash at 18-Year High Makes Stocks a Buy

It seems like everybody is waiting for the bottom, and then pounce to buy.

There’s more cash available to buy shares than at any time in almost two decades, a sign to some of the most successful investors that equities will rebound after the worst year for U.S. stocks since the Great Depression.

The $8.85 trillion held in cash, bank deposits and money- market funds is equal to 74 percent of the market value of U.S. companies, the highest ratio since 1990, according to Federal Reserve data compiled by Leuthold Group and Bloomberg.

(Via Bloomberg)

In October, Home Prices Fell at Record Pace

NYTimes article

Home values in America’s 20 largest metropolitan areas plunged at a record pace in October as the fallout from the financial collapse reverberated through the housing market, according to data released on Tuesday.

The price of single-family homes fell 18 percent in October from a year earlier, according to the closely watched Standard & Poor’s/Case Shiller Housing Index. All 20 cities reported annual price declines in October; prices in 14 of the 20 metropolitan areas surveyed fell at a record rate.

“The bear market continues; home prices are back to their March, 2004 levels.” David M. Blitzer, chairman of the index committee at Standard & Poor’s, said in a statement. The 10-city index dropped 19.1 percent, its largest decline in its 21-year history.

Incredible. Something to tell the kids in your old age. "I lived through the 2008-10 recession", or possibly the "2nd Great Depression", who knows. Then again, the drop in real estate values are really regionally isolated. The severe home value declines are mostly in CA, NV, AZ, and FL, plus Detroit. NYC values have held over the past year, but are just STARTING to feel ripple effect from the Oct/Nov 08 financial fallout. Actually, I'm guessing October number don't take into account the "true" decline in October. The houses that sold in October were probably contacted 4 to 6 weeks prior at a minimum. The "true" real estate declines due to the Oct/Nov 08 financial fallout, especially in NYC, should be know in early 2009.

On the bright side, the stock market doesn't seem to be reacting to this negative news, possibly indicating it has already accounted for this information. It also looks like the credit markets, EVER SO SLOWLY, are starting to "correct themselves". The Federal Bailout have saved the financial institutions, but it also locked in the losses. The default component of interest rates will continue to be high to pay down historical loan losses.

Grape lady falls!

The news reporter chick wanted to laugh soooo bad!

The two people in the studio tried to pretend that they cared, but they didn't. haha

"Family Guy" even made fun of her.

Cool Trailer Remix

"It’s great Pathé are taking a lead in the independent film sector like this, and sharing our vision of film remixing," says Addictive TV front man Graham Daniels. "With our style of work, Slumdog Millionaire is an amazing film to play with, it’s so cinematic and evocative in both sound and picture, it's really colourful and vibrant, and with Danny Boyle known for his cutting edge approach to music and film, making this kind of remix for his movie seems like a natural fit."

"Addictive TV have been creating remixes of movies for an audience hungry to consume something different. As David Knight, editor of music industry magazine Promo wrote last month "audio-visual pioneers Addictive TV have created virtually a whole new genre of promo: the movie remix".

Check it out Digital Arts Online
Thanks Soam

Bill O'Reilly Flips Out

"F*** it. We'll do it live." Damn this guy has a lot of issues.

Late Show - A Mickey Rourke Smackdown

Mickey Rourke is such a mess. But who knows he might be making his John Travolta (Pulp Fiction) comeback. A number of critics have him slated for a best actor Oscar award. Drug and alcohol abuse bad for you? I think not.

Home Sales Plummet

New Home Sales Plummet. Lowest since 1982.
Existing Home Sale Plunge

Hummm, when did I sell my house. 2005? It appears I missed the top of the market by one year. Oh well.

Happy Holidays

Henrietta and Merna Can't Sing - Go Tell It On The Mountain

You wonder why people flee places like this for the city. It's either run to the city and live, or stay put, sing at church, and marry the gas station attendant.

RAPEMAN !!!

This is just wrong! Who would create a cartoon like this?

Civil/Gay Rights - A Music Video Through History

LET’S FACE IT…. THE BIBLE HAS BEEN OPPOSED TO ALL THREE MAJOR INDIVIDUAL RIGHTS MOVEMENTS IN THE U.S.: RACE, GENDER AND SEXUALITY.

THE KKK USED THE BIBLE TO JUSTIFY THEIR CAUSE. MANY CHRISTIANS TODAY WISH TO IGNORE THIS FACT. BUT IT’S TRUE.

Exodus, Chapter 21, Verse 20:21, "And if a man smite his servant, or his maid, with a rod, and he die under his hand; he shall be surely punished. Notwithstanding, if he continue a day or two, he shall not be punished: for he is his money."

Exodus, Chapter 21, Verse 26:27, "And if a man smite the eye of his servant, or the eye of his maid, that it perish; he shall let him go free for his eye's sake. And if he smite out his manservant's tooth, or his maidservant's tooth; he shall let him go free for his tooth's sake."

Ephesians, Chapter 6, Verse 5:6, "Servants, be obedient to them that are your masters according to the flesh, with fear and trembling, in singleness of your heart, as unto Christ. Not with eyeservice, as menpleasers; but as the servants of Christ, doing the will of God from the heart."

SIMILARLY, THE WOMEN’S MOVEMENT FOUGHT THE BIBLE TO GAIN EQUAL RIGHTS.

Ephesians, Chapter 5, Verse 22: 24 "Wives, submit yourselves unto your own husbands, as unto the Lord. For the husband is the head of the wife, even as Christ is the head of the church: and he is the saviour of the body. Therefore as the church is subject unto Christ, so let the wives be to their own husbands in every thing."

First Corinthians, Chapter 14, Verse 34:35 "Let your women keep silence in the churches: for it is not permitted unto them to speak; but they are commanded to be under obedience as also saith the law. And if they will learn any thing, let them ask their husbands at home: for it is a shame for women to speak in the church."

Timothy, Chapter 2, Verse 11: 14 "Let the woman learn in silence with all subjection. But I suffer not a woman to teach, nor to usurp authority over the man, but to be in silence. For Adam was first formed, then Eve. And Adam was not deceived, but the woman being deceived was in the transgression."

NOW THE CHURCH IS TRYING TO USE THE BIBLE TO OPPRESS HOMOSEXUALS FROM GAINING EQUAL RIGHTS.

Once again the Church is in a tough position; anti-gay rhetoric generates a lot of income for the Church. Homosexuality is an "abomination" as per the bible. If the Church condones homosexuality, it’s basically saying the bible is wrong. And there is no way the bible is wrong, it’s the WORD of GOD!!!

Many will claim the bible versus justifying slavery and limiting women's rights just don't make sense. Well neither does the verses referring to homosexuality as an "abomination".

THE BOTTOM LINES IS: WE ALL NEED TO LOSE OUR RELIGION, JUST A LITTLE. RELIGION HAS BEEN ONE OF THE MOST PROLIFIC SOURCES OF OPPRESSION, HATRED AND BIGOTRY FOR CENTURIES.

Oh, I found it

You got to feel for the SoL. I suspect a lot of Americas feel like this right now, even those with coats.

Eight Years of George W. Bush

Almost daily, I see a advert at the gym for the coat drive. The advert begins with the Statue of Liberty standing tall, then slowly beginning to crouch and huddle. Every time I see it, I think of the Bush Administration and what the Administration has done to the country.

They resided over intelligence that warned about 9-11 but ignore it, used false intelligence to declare war on an innocent country, failed to react in a timely and meaningful manner to hurricane Katrina, and promoted uncreditworthy home ownership and failed to regulate the financial markets that has lead to the greatest economic turndown in more than fifty years. Stand-up America and be proud.

This is What I'd Be

Definition: A person who is frugal but fashionable.

That is, if I were fashionable, but I'm not. I still where pants ruined by clorox and with numerous holes from six years ago, but I like them, they are comfortable and I have no desire to purchase new ones. I've noticed as I get older, I continue to wear clothes until basically they fall off. No need for style or fashion.

White House Philosophy Stoked Mortgage Bonfire

NYTimes Article White House Philosophy Stoked Mortgage Bonfire

"Eight years after arriving in Washington vowing to spread the dream of homeownership, Mr. Bush is leaving office, as he himself said recently, “faced with the prospect of a global meltdown” with roots in the housing sector he so ardently championed.

There are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains who loaded up on mortgage-backed securities without regard to the risk.

But the story of how we got here is partly one of Mr. Bush’s own making, according to a review of his tenure that included interviews with dozens of current and former administration officials.

From his earliest days in office, Mr. Bush paired his belief that Americans do best when they own their own home with his conviction that markets do best when let alone.

He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards."

BUSH is such an IDIOT!!

UPDATE: The White House vs the NYT, Economic Meltdown Edition. I'm a huge believer in the efficiencies of the "market" and responsible regulation (capital levels must match risk). But unfortunately, due to the Bush Administration's mismanagement of the financial markets, the pendulum has began to swing in the other direction and will start to impede market efficiencies. Bring back Ronald Reagan.

Nature's Drama

I obsessed with the 7th continent (and hulu). But not because its cold. Mostly because I haven't been there. I think.

Shoe-Hurling Iraqi Becomes a Folk Hero

BAGHDAD — "An Iraqi journalist who hurled his shoes at President Bush and called him a dog became a huge celebrity in the Arab world and beyond on Monday, with many supporters exalting him for what they called a courageous act in the face of American arrogance about the war."

Got to love it!!!

OMG She Looks Old!!

I wonder if people say that about me? Then again, I didn't grow-up under the watchful eye of the public (far from it, in fact), then disappeared and now reappeared. Nevertheless, I guarantee I'll be examining the bathroom mirror a little closer later.

Duck Duck Bush

Bush wages war on Iraq for some make up reason, kills hundred of thousands of Iraqis, as well as thousands of U.S. military men and women, at least the guy could have hit him with the shoe!!

Three Movies for the Price of One

I paid for one movie and snuck into another two. All of them were very good, surprisingly. The first was "Gran Torino" starring, and direct by, Clint Eastwood. He did a stellar job at both acting and directing. Unlike many directors his age, he's become better with age. The movie was rife with politically incorrect racial rants. It reminded me a lot of Archie Bunker - a bigoted, curmudgeon with a heart - but I did laugh. I wasn't trilled with the movie's ending, but it was acceptable.

The second movie, I saw as "Milk". It was directed by Gus Van Sant and staring Sean Penn. It was about, Harvey Milk, the first openly gay person elected to public office. Sean Penn played Milk and he was amazing. I'm not a huge Sean Penn fan, but his acting in this movie was spot on. In my opinion, he stole his previous Oscar for his work in "Mystic River" from Bill Murray, who should have won it for "Lost in Translation", but I wouldn't be surprised if Penn won another Oscar for "Milk".

The last movie, was "Slumdog Millionaire". It was about an orphan, who was raised in the slums of India, and then became a contestant on "Who Wants to Be a Millionaire". The movie is right for the economic times - India's poor struggling with life's challenges and opportunities. The movie had the most contemporary cinematography and editing, of the three I watched today. The director, Danny Boyle, also directed one of my favorite films of all times "Trainspotting".

What I most enjoyed about watching all three movies back to back was the difference in directing styles. Clint Eastwood, who is now in his late 70's, was very old school. Gus Van Sant repeated many of his visual techniques from "My Own Private Idaho". And Danny Boyle's "Slumdog Millionaire" reminded me a lot of the "Borne" films, very quick camera movement and editing. I'm not sure, I really like this style, but it has become very prevalent in contemporary movies. Maybe I'm just getting old.

I would recommend all three movies.

YouTube Videos Pull In Real Money

NYT article: "Making videos for YouTube — for three years a pastime for millions of Web surfers — is now a way to make a living."

The internet is taking over. In the future it seems very clear there will be one cable to our homes and it will source our non-package mail, MP3s, TV, movies, interactive blog and video sites, reading material, print and video news, telephone voice services, etc. So say good-bye to paperboys, print newspapers, music stores, DVD, video stores, chain book stores, mail-order catalogues, tradition telephone services, etc.

The advantage of YouTube over traditional TV is that it allows written comments and video responses. It SMASHES the wall between the audience and entertainment. Video responses are becoming easier and more and more common, as viewers take an active role in their entertainment.

Buy a Couple Cans of Pork n Beans... Not Hate

Said Sykes: "The sad thing is like over 80 million dollars was spent on Prop 8 and the California food banks - their shelves are bare. So instead of spending your money on hate why don't you buy a couple cans of pork and beans? Buy some food. Pork and beans, they tick to your ribs, they don't dill you up like hate, you know?"

Another Film Shoot Finished

This time it was a short (15 minute) film and I was the film's locations manager. I spent the better part of four weeks on Coney Island, NY searching for and securing locations including beach and boardwalk, pizza joint, exterior bodega, library, hospital room, and apartment complex. I must admit it was A LOT of work for a short film, but hopefully the film will win some awards, who knows.

Today was the first day I had to myself. I headed to the gym, ran for an hour and a half, did laundry, went grocery shopping, cleaned, took my winter coat to the dry cleaners, watched two movies (Wanted & Kiss the Bride), made a things-to-do list and sorted through a bunch of minutiae on the web. I ALMOST feel complete again. Okay, maybe after a bottle of wine and another movie.

The short film that we shot is about Jimi who lives in the tenement house in Brooklyn, NY with his father Ces who is a disabled Iraqi war veteran, recently discharged and now paralyzed from the waist down. One day, when Jimi learns of mysterious Medicine Man that cured paralysis with medicine derived from a rare plant. Jim and his friend, Demetrius, embark on a journey far from home - deep into the heart of the Onondaga Nation, a bleak and mysterious Native American land in hopes they'll find the plant that might be able to repair nerve damage in Ces' back and in time could give him another chance to walk.

The picture above is a futuristic image of Coney Island.

It Doesn't Get Much Worse

"Each block in this histogram represents one year of stock returns, using data since 1825. The most recent observation, based on 2008 returns to date, is the dark block in the far left tail. The figure gives a good sense of how historically extraordinary this year's bad news has been."

4:30 AM

I just finished a three day film shoot on Coney Island. The call time was 6AM that meant I woke up at 4AM and was on the PATH at 4:30AM. Walking through the Newark Penn Station at 4:30AM was like walking through the Night of The Living Homeless. There was more people (all homeless from what I could tell) in the station at that time than there was at non-peak hours during the afternoon. And they spaced themselves throughout the train station. None of them stood next to each other. This made it even more eerier. I guess they wanted there own personal space. Walking to the second floor, I stepped over a minimum of ten homeless people. How did all these people become homeless? Why do I pay rent and they don't? I'm guessing some of them are mentally ill.

The 12 Gays of Christmas

The Christmas season has begun.

Funny Stuff

Jack Black as Jesus.