Okay, so you get up in the morning knowing you are attending the royal wedding, and you decide to put THAT on you head. Someone did a REALLY GOOD sales job to get someone to put THAT thing on their head.
Thursday, April 28, 2011
As you know, I walk around the LSU lakes almost every day. Ok, ok, so not on Wednesday’s when I go to the Bulldog for a ‘few’ beers. And not so much when it is cold. And never in the rain. Yeah, yeah, yeah, it rains a lot in Louisiana. ALRIGHT, you get my point. I do it often!
Walking can add minutes to your life. This enables you at 85 years old to spend an additional 5 months in a nursing home at $7000 per month.
A grandpa started walking five miles a day when he was 60. Now he's 97 years old and we don't know where he is.
I like long walks, especially when they are taken by people who annoy me.
I have to walk early in the morning, before my brain figures out what I'm doing.
I joined a health club last year, spent about 400 bucks. Haven't lost a pound. Apparently you have to go there.
Every time I hear the dirty word 'exercise', I wash my mouth out with chocolate.
The advantage of exercising every day is so when you die, they'll say, 'Well, he looks good doesn't he.'
If you are going to try cross-country skiing, start with a small country.
I know I got a lot of exercise the last few years ......but I’m just getting over the hill.
We all get heavier as we get older, because there's a lot more information in our heads. That's my story and I'm sticking to it.
You could run this over to your friends, but just e-mail it to them!
Wednesday, April 27, 2011
1. Not likely to raise interest rate target until January 2012, so we are at ZERO short term interest rates for a while longer
2. Fed doesn’t feel that inflation is a problem, it’s “transitory”
3. Commodity price increases are “transitory”
4. Dollar is the sacrificial lamb, the Fed is going to let it fall in order to help the economy, exports, employment
That’s what I think his message was.
Thursday, April 21, 2011
Wednesday, April 20, 2011
The year is 2016 and the United States has just elected the first woman, a Louisiana State University graduate, as President of the United States, Susan Boudreaux.
A few days after the election the president-elect calls her father and says, 'So, Dad, I assume you will be coming to my inauguration?'
'I don't think so. It's a 30 hour drive, your mother isn't as young as she used to be, and my arthritis is acting up again.'
'Don't worry about it Dad, I'll send Air Force One to pick you up and take you home. And a limousine will pick you up at your door.'
'I don't know. Everybody will be so fancy. What would your mother wear?'‘Oh Dad,’ replies Susan, 'I'll make sure she has a wonderful gown custom-made by the best designer in New York .'
'Honey,' Dad complains, 'you know I can't eat those rich foods you and your friends like to eat.'
The President-to-be responds, 'Don't worry Dad. The entire affair is going to be handled by the best caterer in New York, I"ll ensure your meals are salt free Dad, I really want you to come.So Dad reluctantly agrees and on January 20, 2017, Susan Boudreaux is being sworn in as President of the United States. In the front row sits the new president's Dad and Mom. Dad noticing the senator sitting next to him leans over and whispers, 'You see that woman over there with her hand on the Bible, becoming President of the United States.
The Senator whispers back, 'Yes I do.'
Dad says proudly, "Her brother played football at LSU."
Tuesday, April 19, 2011
Monday, April 18, 2011
“The U.S. is the only large AAA rated country that saw its
debt rise during the crisis that until recently had no plan that
would reverse the trend, Steven Hess, senior credit officer at
Moody’s, said last week.”
Wire: BLOOMBERG News (BN) Date: Apr 18 2011 8:36:30
Standard & Poor’s Puts ‘Negative’ Outlook on U.S. AAA (1)
By Robert Burgess
April 18 (Bloomberg) -- Standard & Poor’s put a
“negative” outlook on the U.S. AAA credit rating, citing
rising budget deficits and debt.
“We believe there is a material risk that U.S. policy
makers might not reach an agreement on how to address medium-and
long-term budgetary challenges by 2013,” New York-based S&P
said in a report today. “If an agreement is not reached and
meaningful implementation does not begin by then, this would in
our view render the U.S. fiscal profile meaningfully weaker than
that of peer ‘AAA’ sovereigns.”
Under President Barack Obama’s fiscal year 2012 budget,
released in February, the total debt subject to the ceiling
would be $20.8 trillion in 2016. The plan House Republicans
approved April 15, written by Budget Committee Chairman Paul
Ryan, would need a debt ceiling of at least $19.5 trillion,
according to data compiled by Bloomberg Government.
Treasuries fell, reversing earlier gains, after S&P lowered
its outlook to negative from stable. The benchmark 10-year note
yielded as much as 3.45 percent in New York before trading
little changed at 3.43 percent. The dollar dropped 0.7 percent
to 82.58 yen and pared its gain versus the euro. The S&P 500
Index fell 1.5 percent.
The Treasury Department projected that the government may
reach the $14.3 trillion debt ceiling limit as soon as mid-May
and run out of options for avoiding default by early July.
Last week, Moody’s Investors Service said Obama’s plan to
cut $4 trillion in cumulative deficits within 12 years may be a
“positive” for the nation’s credit quality and mark a reversal
in the budget debate.
The U.S. is the only large AAA rated country that saw its
debt rise during the crisis that until recently had no plan that
would reverse the trend, Steven Hess, senior credit officer at
Moody’s, said last week.
Friday, April 15, 2011
Thursday, April 14, 2011
Boudreaux was teeing off from the mens' tee. On his downswing, he realized that his wife, Clotile, was teeing up on the woman's tee directly in front of him. Unable to stop his swing, he nailed it, hitting Clotile directly in the temple, killing her instantly. A few days later, Boudreaux got a call from the coroner regarding her autopsy.
Coroner : "Boudreaux, your wife Clotile seemed to have died from blunt force trauma to the head. You said you hit a golf ball and hit her in the temple, is that correct?"
Boudreaux : "Mey yea sir, dat's correct.."
Coroner : "Well, inexplicably I found a golf ball wedged between butt cheeks."
Boudreaux : "Was it a Titlist Pro V1?"
Coroner : "Yes, it was."
Boudreaux : "Mey, dat was my mulligan."
Wednesday, April 13, 2011
THIS MAY BE THE BEST FREE MUSIC LINE UP IN AMERICA. I can’t make it in the middle of the work week, but if you are in New Orleans on Wednesday’s, this is hard to beat.
YLC Wednesday at the Square
Wednesdays from 5-7:30 pm
March 30 to June 15, 2011
YLC Wednesday at the Square is a free, 12-week concert series with food and drink for sale to benefit the Young Leadership Council of New Orleans. It is located at Lafayette Square on St. Charles Avenue in the CBD across from Gallier Hall. Local artisans also sell their work in the Artist Village near the Camp Street entrance. Concerts are held every Wednesday from March 30 to June 15, 2011 from 5:00 to 7:30 pm, rain or shine.
APR 13 Kermit Ruffins + COOT
APR 20 Anders Osborne + Honey Island Swamp Band
APR 27 Irvin Mayfield & the Jazz Playhouse Revue
MAY 4 Marcia Ball + Gal Holiday & the Honky Tonk Revue
MAY 11 George Porter, Jr. + The Lee Boys
MAY 18 The Iguanas + Los Po-Boy-Citos
MAY 25 Tab Benoit + Navy Band New Orleans Full Steam Brass Band
JUN 1 Eric Lindell + The Revivalists
JUN 8 Galactic + Marc Stone
JUN 15 Cyril Neville and Monk Boudreaux + Gravy
Wednesday, April 6, 2011
Tuesday, April 5, 2011
Please refer back to the joke I sent you yesterday.
Follow up from market activity since late last week....
CREDIT MARKETS APRIL 5, 2011
New Fee Shakes Up a Lending Market
By MARK GONGLOFF And MIN ZENG
The money market has been roiled by a sudden shortage of Treasury securities, another unintended consequence of government involvement in financial markets.
The disappearance of Treasurys in recent days has created a scramble among banks and investors, who depend on a fluid supply for short-term borrowing and lending. It is an unusual event, considering the market is generally awash in Treasurys, with about $9 trillion outstanding.
But recent rule changes mandated by the Dodd-Frank laws have made it too expensive for some banks to offer out their Treasurys holdings as part of a key overnight lending market known as the repurchase or "repo" market.
Banks typically borrow in this market, using Treasurys as collateral, parking the cash with the Federal Reserve and earning a better interest rate. Investors and money market funds use the market to lend out their cash overnight and earn a small return.
The lack of supply was so severe on Monday, and some investors so desperate for Treasurys, that they accepted negative yields—effectively paying to lend money to the banks. That is something that has rarely been seen since the financial crisis.
Exacerbating the problem, the Treasury has stopped selling some short-term Treasurys amid the debate in Washington over the government debt ceiling. At the same time, the Federal Reserve is suctioning up most of the new Treasurys that the government is selling, adding to the shortage of Treasury supply.
"It is a perfect storm of collateral being pulled from the market when it is most needed," said Thomas Roth, executive director in the U.S. government bond-trading group at Mitsubishi UFJ Securities (USA) Inc. in New York.
Joseph Abate, money-market strategist at Barclays Capital, noted that about $40 billion in repo collateral abruptly disappeared on Friday, in what traders said was one or more big banks exiting the market.
Banks have pulled back on their repo activity since the Federal Deposit Insurance Corp. imposed an added charge on bank repos as of April 1.
The new assessment was designed to better reflect the risks on individual banks' balance sheets by charging them for liabilities, including repo-market activities, instead of just their deposits.
An FDIC spokesman declined to comment on the market impact.
The average interest rate investors receive for lending Treasury debt in that market have fallen to nearly zero from about 0.15% since the end of March, according to Scott Skyrm, head of repo trading at Newedge USA in New York.
Rates have been ratcheting lower for some time, making the money market "an ever-worsening house of pain," Anthony Crescenzi, portfolio manager at Pacific Investment Management Co., or Pimco, wrote in an email.
So far, the tensions in the markets have been mild compared with the 2008 financial crisis, when the money market essentially seized up.
Still, the decline of repo rates, if it lasts very long, could be bad news for money-market funds that make money by lending Treasurys to banks and other investors.
There is an outside chance that long-term disruption of the repo market, a key source of funding for many corners of the economy, could eventually lead to higher borrowing costs more broadly.
Most think the turmoil will be temporary, and the Fed would likely intervene before too much damage was done.
"I think the market has overreacted here a bit and will probably go back to its equilibrium level," Mr. Abate said. "I'm just not sure how quickly."
It is possible that the market could be in some upheaval at least until the resolution of the debate in Congress over the U.S. government's debt ceiling.
That is because a shortage of available Treasurys for use as repo collateral seems to be a major factor driving repo rates lower.
That Treasury shortage, in turn, is partly due to some short-term Treasury debt issuance being on hold until the debt-ceiling issue is settled.
For now, the government is probably not complaining about the shortage of Treasurys, which is driving its borrowing costs lower for now. Prices on Treasury debt have risen sharply since Friday, driving yields—which move in the opposite direction—lower.
The six-month Treasury bill's yield fell to a low of 0.122%, a record, on Monday.
Late afternoon, the benchmark 10-year note was 5/32 higher to yield 3.429%. The two-year note rose 2/32 to yield 0.774%.
At the same time, the repo market is flooded with cash being pumped by the Fed in an effort to goose the economic recovery. One possible solution for the current turmoil is for the Fed to stop buying, and even start lending out, some of its Treasurys.
But that would send mixed signals to the market while the Fed is still in the middle of its $600 billion Treasury buying program.
The Fed would likely rather deal with some short-term turmoil in the repo market than work against its own liquidity measures. And part of the Fed's intention with its liquidity pumping programs has been to make it more painful for investors to stay in cash, forcing them to buy riskier assets.