I am Joe Blog’s Left Ventricle

Now that I’ve been commuting to work ‘pon my bicycle for the past couple of months, I am hereby officially declaring myself “a cyclist”.

[Wed 23:35] <jamjam> Trading has been suspended on the Russian stock market after another steep slide in early trading.
[Wed 23:36] <sw> fail
[Wed 23:36] <jamjam> The US Federal Reserve has been forced to provide a $106 billion publicly-funded loan to AIG after talks to try and co-ordinate a privately funded bail out failed.
[Wed 23:36] <jamjam> if I was going to make that a more accurate article
[Wed 23:36] <jamjam> The US Federal Reserve has been forced to borrow a $106 billion publicly-funded loan to AIG after talks to try and co-ordinate a privately funded bail out failed.
[Wed 23:40] <jamjam> in the US
[Wed 23:40] <jamjam> they’ve privatised everything from education and electricity to your fucking back teeth
[Wed 23:40] <jamjam> but they’re nationalising home loan schemes and investment banks
[Wed 23:40] <jamjam> why would you nationalise an investment bank?
[Wed 23:40] <jamjam> what the fuck would you do that for?
[Wed 23:41] <jamjam> the only half-assed moronic reason would be to prop up something stupid that isn’t working anymore
[Wed 23:41] <jamjam> meanwhile russia’s stock market crashses
[Wed 23:41] <jamjam> oil and gas rich russia, who is holding Europe to ransom with gas prices and enjoying $100/barrel oil sales
[Wed 23:41] <jamjam> stock market crash?
[Wed 23:41] <jamjam> the only way you can get that
[Wed 23:41] <jamjam> is if a lot of people in russia
[Wed 23:42] <jamjam> believe the global economy is about to tank, bigtime
[Wed 23:42] <jamjam> and I can’t say I disagree much with their analysis
[Wed 23:43] <Eccles> heh
[Wed 23:43] <Eccles> its all going to shit
[Wed 23:43] <Eccles> yaaaaay
[Wed 23:43] <Eccles> err
[Wed 23:43] <jamjam> welcome to the 2nd great depression
[Wed 23:43] <Eccles> I was reading in the paper about CDS’s
[Wed 23:43] <Eccles> forget what it stands for
[Wed 23:44] <Eccles> basically its insurance against loans going crap, placed against property?
[Wed 23:44] <Eccles> however
[Wed 23:44] <Eccles> you dont have to own the property in question, or be involved with it at all, to take out a CDS
[Wed 23:45] <Eccles> so in 2001 there was @1 Trillion worth of these cds’s
[Wed 23:45] <Eccles> but nowadays, there is *62* trillion worth
[Wed 23:45] <Eccles> $10,000 for every man woman and child on the planet
[Wed 23:46] <jamjam> they should’ve let them burn

[Wed 23:46] <jamjam> the banks that fucked up
[Wed 23:46] <jamjam> and the fucks that bought houses they couldn’t afford
[Wed 23:46] <jamjam> propping it up a little longer isn’t going to help
[Wed 23:46] <jamjam> it’s probably going to make it worse
[Wed 23:46] <jamjam> deeper and longer
[Wed 23:48] <Eccles> aye indeed..
[Wed 23:48] <Eccles> wonder if I can find this CDS article online, it was damn good reading
[Wed 23:48] <Eccles> terry mcrann.. he knows stuff good
[Wed 23:48] <Eccles> lol
[Wed 23:48] <jamjam> oooh knows stuff good
[Wed 23:49] <sw> 2nd cousin of troy mcclure
[Wed 23:50] <Eccles> lol
[Wed 23:52] <Eccles> lol on the daily show they showed a clip of dubya calling the current crisis an ‘adjustment’ followed by half a dozen ‘experts’ calling it a tsunami, a 9 on the richter scale etc etc etc
[Wed 23:56] <Eccles> http://www.bloggingstocks.com/2008/09/15/100-year-crash-mccain-advisor-spurred-62-trillion-derivatives/
[Wed 23:56] <Eccles> that explains it about as well
[Wed 23:56] <Eccles> just read around the pointless political bits
[Wed 23:58] <jamjam> should’ve let the nerds finish taking over the world
[Wed 23:58] <jamjam> fucking irony
[Wed 23:58] <jamjam> we’d have made it active-active redundant failover
[Wed 23:58] <jamjam> they’ve tied it all together so that if one part fails they all do
[Wed 23:58] <jamjam> that’s ass-backwards you financial fuckwits
[Wed 23:58] <jamjam> all these assfuck companies have been wrong all this time
[Wed 23:59] <jamjam> promoting the CFO before the CIO
[Wed 23:59] <jamjam> massive chain of failure.org
[Thu 00:01] <Eccles> haha
[Thu 00:02] <Eccles> yer but we pay dem $1 million a yer! they MUST be smrt
[Thu 00:03] <Eccles> with any luck this will make mccain unelectable
[Thu 00:04] <jamjam> yeah
[Thu 00:04] <jamjam> wouldn’t want the republicans to have to preside over america’s financial collapse
[Thu 00:04] <Eccles> lol…

[Thu 00:07] <Eccles> http://www.nakedcapitalism.com/2008/05/credit-default-swaps-losses-estimated.html
[Thu 00:07] <Eccles> well damn they knew this was likely to happen 4 months ago
[Thu 00:09] <jamjam> there’s no question everything’s going to shit
[Thu 00:09] <jamjam> the question is really how far, and for how long
[Thu 00:11] <jamjam> it’s possible nobody in high places is callign it
[Thu 00:11] <jamjam> because quite simply
[Thu 00:11] <jamjam> so long as people keep believing the bullshit, maybe it’ll go away
[Thu 00:12] <jamjam> I mean
[Thu 00:12] <jamjam> it’s 2008
[Thu 00:12] <jamjam> we have so much technology we could really get together and achieve anything we wanted
[Thu 00:12] <jamjam> we’re incapable of getting together, deciding what we wanted etc etc
[Thu 00:12] <jamjam> but even being totally useless fuckwits with no cohesion whatsoever
[Thu 00:12] <jamjam> we can achieve a hell of a lot
[Thu 00:21] * sw changes topic to ‘happy birthday jam!’
[Thu 00:21] <jamjam> tanks
[Thu 00:21] <Eccles> yeeeeeah
[Thu 00:21] <Eccles> happy boofday
[Thu 00:21] <jamjam> businessmen they drink my wine
[Thu 00:21] <jamjam> ploughmen dig my earth
[Thu 00:21] <jamjam> none of them along the line know what any of it is worth
[Thu 00:22] <jamjam> im 2 again
[Thu 00:22] <jamjam> *Throws a tantrum*