tag:blogger.com,1999:blog-1207581886255094115.post7617656918783818508..comments2024-02-26T05:51:17.859-05:00Comments on Economic Disconnect: Iterations of "X"EconomicDisconnecthttp://www.blogger.com/profile/02802078645713106743noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-1207581886255094115.post-15085666983322934042009-05-11T00:20:00.000-04:002009-05-11T00:20:00.000-04:00Even if you assume that the “risk-weighted assets”...Even if you assume that the “risk-weighted assets” of the banks are about two-thirds of their total assets (as the stress-test does), we're still looking at $7.8 trillion in total assets at risk in these banks, and despite being on the edge of insolvency only weeks ago, we are asked to believe that they will need less than 1% of this amount – $74.6 billion – of additional capital even in a worst case scenario. How do the stress tests arrive at this conclusion? 1) They underestimate potential losses by minimizing the horizon over which the losses would have to occur, excluding potential mark-to-market losses and restricting the loan losses to “cash flow” losses only; 2) They define capital well beyond tangible sources, to include about double what is available as Tier-1 common; 3) They include $362.9 billion in “resources other than capital” – essentially pre-provision net revenue expected to be earned by the banks over the coming two years to absorb potential losses; 4) They report the capital buffer that would be required after massive dilution in the common stock of these banks has already occurred. <br /><br />As an example, Citigroup comes in with $119 billion in capital ($22 billion as Tier-1 common). Total assets are over $2.1 trillion, but the stress test assumes “risk weighted” assets of less than half that. Citi projects losses in 2009 and 2010 of $104.7 billion in a scenario where the unemployment rate reaches 10.3%. Citi assumes that it will earn $49 billion during that period which would partially absorb those losses, and that it will obtain $87 billion in Tier-1 from other capital sources, presumably including $33 billion of preferred that it would be willing to convert to common. Of course, Citi's entire market cap is only $22 billion, so the “$5.5 billion” that Citi is reported to need under the stress test is what it would require after a 5-to-1 dilution in its common stock (87+22/22). Essentially, we've got a company with a common equity buffer of just over 1% of total assets, that just 8 weeks ago was on the verge of receivership, and investors are urged to believe that there are enough voodoo dolls in the vault to make the company solvent even in a further weakened economy. <br /><br />Great. Then no more government money should be needed. Outstanding. Not a dime more of public funds beyond what remains in the TARP. No need to use public money to buy toxic assets either. Believe me, I would be overjoyed if the madness of public bailouts of private bondholders was to stop. Unfortunately, I don't believe it for a second, because our regulators have clearly demonstrated that they do not want accurate public disclosure of losses (witness Ken Lewis' testimony a few weeks ago, the watered-down mark-to-market rules, and the “negotiated” results of the stress test). Our regulators want confidence. And they're willing to fudge the numbers to get it. If there wasn't a freight train of additional mortgage defaults coming, perhaps confidence building would be a good thing. As matters stand, encouraging confidence is equivalent to encouraging investors to throw good money after bad. <br />http://tinyurl.com/pcqry5<br /><br />Hussman is getting about as pissed off as I am over this whole little goverment operated scam.<br /><br />KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-64203529466816715452009-05-10T23:39:00.000-04:002009-05-10T23:39:00.000-04:00watchtower,
Thanks for the warm welcome! I doubt ...watchtower,<br /><br />Thanks for the warm welcome! I doubt I'll be able to continue at the pace of my initial (out)burst though, lol. ;)<br /><br />In other news, I have always loved the look of the RX-7. Unfortunately, I'm 6'3" tall. I think I'd probably have to experience a "Saw" event in order to fit comfortably. D'oh!Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-23061080990558477092009-05-10T21:52:00.000-04:002009-05-10T21:52:00.000-04:00I have a lot of respect for you, Gawains. A lot.I have a lot of respect for you, Gawains. A lot.Lisanoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-25620128385129853992009-05-10T21:09:00.000-04:002009-05-10T21:09:00.000-04:00Gawains,
I am an ardent opponent of debt, but mana...Gawains,<br />I am an ardent opponent of debt, but manageable debt by the prudent is ok. Plus, what good is money if you cannot have a little fun? You cannot take it with you! Go for the RX-8, it seems to really be on your mind and enjoy it. Gotta have a little fun, yes?EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-75375771930567331822009-05-10T20:31:00.000-04:002009-05-10T20:31:00.000-04:00Watchtower, you have no idea how close I came to b...Watchtower, you have no idea how close I came to buying a Mustang Bullitt when it first came out. I love that car! Mainly because Steve McQueen is my favorite actor. Besides, I know the dealer and I could have gotten a great deal, bought one at cost.<br /><br />But like I said, I hate debt. Been there, done that. Not going there, not doing that again. When I got out of graduate school (MA Romantic poetry/Medieval literature/Humanities, if you can believe it), I was flat broke and up to my eyeballs in debt. It took me three years to get that monkey off my back, and I have no intention of ever going through that again.<br /><br />I had to resign my teaching positions (high school and college) six years ago when my father got sick and ultimately died of cancer. Went to work for my mother, who owns a rather large real estate company down here, just to help her out. Responsibilities of the first-born son, you know. We deal mostly with repossessed homes, so needless to say we've had a lot of work to do these past few years. But we make very good money.<br /><br />I'm certainly not hurting. Cash in the bank, assets generating income, ownership of a corporation. Hell, I could drive just about any car I wanted. But I hate debt. It's not that I'm afraid of debt, it's that I hate it.<br /><br />That old truck, it's paid for. So is my condo. The only debt I carry is one student loan that I took out for my master's degree. Other than that my only expenses are food, utilities, insurance, association fees, and taxes. Well, and licensing fees and board dues, other business expenses.<br /><br />Every year I fly my brother down from Maine and take him to a Cowboys game. He put the fan in fanatic, and I take great pleasure in treating him. I just spent several thousand for reservations to the Falcons game at the new stadium for me, him, and a few friends of mine. Those guys will pay me back, but for my brother it's all on me.<br /><br />This is what I'm talking about. Yeah, I need a new car, and that RX-8 sure looks sweet. But if I buy it and take on the payments, I might not have enough disposable income to fly my brother down for a game next year. I suppose I could, if I tightened my belt, however I don't like belt tightening.<br /><br />This is my dilemma. I need a new car, I love the Mazda, but I'd rather fly my brother to a Cowboys game. And keep eating USDA Grade A prime steaks for dinner. I don't skimp on food. I can live without a lot of things, but food is not one of them.<br /><br />The thing is that, in real estate, there's an awful lot of inventory on the market. Repos are the only thing that moves in a down market, and we certainly have enough of those to sell. But lending is tightening and sales are slowing, so I'm hesitant to take on debt for what is essentially a toy.<br /><br />Incidentally, this last Tuesday was repo day, when the houses in foreclosure are put up for auction on the courthouse steps. ACORN was there protesting, causing problems, bidding 99 cents and what not, just generally being a pain.<br /><br />"This woman has a right to stay in her home!" they shouted.<br /><br />Finally, I turned to one of them and said, "Hey, why don't you take some of that money the government gave you and make her house payment?" Jerk.<br /><br />I'm fearful of the path this country is taking and especially of the direction this administration is leading it in. I don't see a sustainable recovery on the near horizon, certainly not in home prices. And only a fool would buy into this sucker's rally on Wall Street.<br /><br />I strongly encourage all of you to read Canto's book and pay attention, because your investment strategy depends on it.<br /><br />That said, I'll most likely be driving a new Mazda in a couple of months. Got to have it, and it certainly won't bankrupt me. I'll just have to play it a little closer to the vest for a few years.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-83771001169586644122009-05-10T20:10:00.000-04:002009-05-10T20:10:00.000-04:00Gee, all this car talk, I must chime in. I've own...Gee, all this car talk, I must chime in. I've owned a Ford Fairlane, Borg-Warner truck(60-something), Pacer, Volkswagen wagon, broken down Subaru, some sporty 240z thing, old Mercedes of some kind, BMW wagon, and now a Scion TC. As long as they can get me from point A to point B I'm happy. Well, I'm just a woman, what do I know :) Glad you have a record-setting comment section GYSC. You're the best and so are your readers. I love the long comments from all of you.Lisanoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-34749086985407765132009-05-10T19:42:00.000-04:002009-05-10T19:42:00.000-04:00In college I had a really old school Hyundai Excel...In college I had a really old school Hyundai Excel (a 1993 model I think). That car was made out of plastic and it was a constant problem vehicle, but I got it for cheap. One day at work about 30 miles from my house I got in the car, turned the key, heard a clunk, and noticed a round object rolling away from the car. I got out and found the object: It was the entire pulley assembley WITH the front nose of the crankshaft still attached! It had just fallen clear off! I will never miss that particular car. Today Hyuandai actually makes a very solid vehicle, but I remember my old crapper.<br />If you like to take corners, I suggest a test drive of the Infiniti G35X. As I own one I can promise you that car is about the best in corners I have ever driven.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-13574884513223905472009-05-10T19:15:00.000-04:002009-05-10T19:15:00.000-04:00@ GawainsGhost
The RX8 is an awesome car, the kin...@ GawainsGhost<br /><br />The RX8 is an awesome car, the kind of car that would have me looking for those twisty roads that I love to drive.<br /><br />Thanks for the thumbs up on the Bullitt.<br /><br />If you have had your Ranger for 16 years my advice is to never sell it, you won't believe how much you will miss it after it's gone, I'm still grieving over my old rustbucket Firebird that I used to have and sold in the late 80's for next to nothing.<br />Bad mistake on my part.watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-74205076629205263582009-05-10T19:01:00.000-04:002009-05-10T19:01:00.000-04:00Yep, the RX-8 still comes with the rotary engine. ...Yep, the RX-8 still comes with the rotary engine. It's a sweet ride, and now it has those extra doors that make it easier to get in the back. I believe this is the last year of production though, which is why I am strongly considering taking the plunge and buying one.<br /><br />My father had one of the original RX-7s, and it was one of the best cars he ever owned. But he was a car freak, and traded it in for a new Corvette. Now that was a car, the last of the Stingrays. Talk about acceleration.<br /><br />I never followed in my father's footsteps though. I mean, I love a good ride, but I just never went over the top on cars. I just want a reliable vehicle that will get me where I need to go. However, I am my father's son, and the RX-8 looks to be about the best car for the money out there to me these days.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-48814875635016057582009-05-10T18:36:00.000-04:002009-05-10T18:36:00.000-04:00Gawains,
Does the Rx-8 still come with the rotary ...Gawains,<br />Does the Rx-8 still come with the rotary Wankel engine? Those motors are so cool.<br /><br />Great comments section, an all time record for Economic Disconnect!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-18368769856732780562009-05-10T17:41:00.000-04:002009-05-10T17:41:00.000-04:00Wow, Watchtower, great car. I almost bought one my...Wow, Watchtower, great car. I almost bought one myself when it first came out, but I didn't. Similarly, I had to restrain myself from buying a Camaro SS (my father would have been all over that car), but again I didn't.<br /><br />Right now I'm leaning toward a Mazda RX-8, but I just can't seem to take the leap. I hate debt, and the last thing I need is a car payment in these times of economic uncertainty.<br /><br />I've been driving the same 93 Ford Ranger since I bought it. I special ordered it from the factory, with the off-road package, 4-wheel drive, an extended bed, but not the extended cab. It was in fact the first new Ranger sold in Texas that year. Of course, I know the owner of the Ford dealership down here (he's been a friend of the family for decades), so I got a hell of a deal.<br /><br />It's been a good truck, although I did have to rebuild the engine a couple of years back. Fix Or Repair Daily, you know. But it's never failed to start or get me to where I need to go.<br /><br />Still, it is 16 years old and has over 200,000 miles on it. So I'm going to have to buy a new car eventually. I really like the RX-8, and I'll probably get one soon. I suppose I could pay cash for it, but that would drain my savings account, and I'm certainly not going to do that.<br /><br />Most likely, I'll put 20% down, order from the factory, and take delivery in a few months. To me buying a car is like buying a suit, tailored is the only way to go. I don't buy off the lot or off the rack. I want a custom design that fits my specifications. But that's just me.<br /><br />I'll keep the old truck for business of course; the new car is just for pleasure, going on dates and driving to Cowboys games. Fun. Zoom zoom zoom. If I could only rationalize the debt and depreciation, I'd have one today.<br /><br />Howbeit, so GYC, you just couldn't resist taking one last stab at the Beatles. That's okay, we still like you, or I do anyway. Mainly because you Don't Let Me Down.<br /><br />http://www.youtube.com/watch?v=riOnVUJAo3k<br /><br />I love the Beatles, always have, always will. I saw their first appearance on the Ed Sullivan Show when I was 3, and I've been a fan ever since. And I'm certainly long BETLS stock.<br /><br />But they're not KISS, who incidentally are starting the North American leg of their Alive 35 tour this fall. I'm even longer KISS stock, as I live by Keith Richard's dictum, "If you can't play it live, you're not a band."<br /><br />http://www.kissonline.com/<br /><br />This is one concert you definitely do not want to miss. I've seen them 15 times, the first time in 77 at the opening show of the Love Gun Tour, and they're just as good now as they were then. This tour they play the entire set from Kiss Alive and follow it with an encore. So if they come anywhere near where you are, you should go.<br /><br />Incidentally, I've been reading an interesting book that I would highly recommend, Cocktail Economics by Victor A. Canto (FT Press, 2007). It offers sound advice for an above-average return, cyclical asset allocation investment strategy. Canto distinguishes between price smoke and price signals, elastic and inelastic companies, economic shocks and trends, beta and alpha. He includes real world examples that illustrate his principles. It's a very good read.<br /><br />http://search.barnesandnoble.com/Cocktail-Economics/Victor-A-Canto/e/9780132432733/?itm=2<br /><br />We're all seeking alpha these days. This book shows you how to get it.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-51157982075398407022009-05-10T12:26:00.000-04:002009-05-10T12:26:00.000-04:00Wow, 18 comments and running! I love it when ther...Wow, 18 comments and running! I love it when there is this kind of reader feedback.<br />My thanks to Stagflationary Mark for visiting here. I think your comments show that you have plenty to offer the readers here and I thank you for taking the time to post.<br />Lisa,<br />Paul Newmann as a bad guy is a bit hard, but the film showcased moral ambiguity very well I thought. Newman was "bad" but you had full sympathy for his character. That film will be a classic.<br />Thanks to all for the great participation!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-77577608979124381772009-05-10T11:00:00.000-04:002009-05-10T11:00:00.000-04:00@ Stagflationary Mark
I can't speak for GYSC but ...@ Stagflationary Mark<br /><br />I can't speak for GYSC but I really enjoyed your 3 posts that you contributed, I hope you will continue, but of course I wish everybody who reads Economic Disconnect would post their thoughts, you never know who will bring that nugget of info that you are looking for.watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-21362141027434772732009-05-10T10:58:00.000-04:002009-05-10T10:58:00.000-04:00Dear GYSC,
Laughed out loud at your Beatles refere...Dear GYSC,<br />Laughed out loud at your Beatles reference! Thank you! I agree with your take on the "W" move in the market. I've been hearing people talk about being glad they have recovered some of their losses, but if the volatility continues (and we know it will), these same people will flee the market.<br />I'm not fond of most new music, either, and I hear a lot of it. I have a teenage boy :) O.A.R was good, and my son liked them, too. Except for Iron Maiden (not my favorite), your video picks were the greatest. Wilson and Jett-great talents! Road to Perdition was a really good movie, but it was hard for me to watch Newman as a bad guy. I loved him. <br />I'm glad you're back!Lisanoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-56797038170022832242009-05-09T22:00:00.000-04:002009-05-09T22:00:00.000-04:00G,
Since I am new to your blog please forgive me ...G,<br /><br />Since I am new to your blog please forgive me for being a bit out of step and nearly spamming this thread.<br /><br />I've been digging through some of your old posts and came across this gem from February of last year.<br /><br />http://economicdisconnect.blogspot.com/2008/02/coming-apart-at-seams.html<br /><br />"His track record for predictions aside, where was the follow up question of "if indeed we enter into stagflation, what can/will the FED do about it?" I would love to know his answer to that one."<br /><br />Indeed! Fortunately, we now know the answer. It involved the implementation of a top secret global economic death ray that took down the "there is no bubble to go bust" housing market and inhibited all global shipping and trade.<br /><br />The official response tells a slightly different story of course. Something must have broken somewhere and there's no way anyone could have seen it coming!<br /><br />Sarcasm, it isn't just for breakfast any more. ;)Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-45178963898822245072009-05-09T21:43:00.000-04:002009-05-09T21:43:00.000-04:00G,
"I think this is going to take time to play ou...G,<br /><br />"I think this is going to take time to play out. Maybe up to 2-3 years. In the end I am thinking that the FED, confronted with a consumer that will not spend and take on credit at a level consistent with "3X" economic activity, will attempt to force the issue by leaving interest rates at zero (forever?) and perhaps actively devaluing the currency to force spending instead of saving."<br /><br />I completely agree with this theory. My last big investment (about 1/6h of my entire portfolio) was buying the 20-Year TIPS about a year ago. I locked in 1.75% (bought at a discount, so was actually 1.8%) over inflation long-term. So far, it hasn't worked out that well. Real yields rose in that time frame. However, I'm holding until maturity and still have 19 years left. Further, as a saver, my plan hasn't exactly hurt me much. The only thing I have really lost is opportunity cost. Interest is still coming in. The TIPS still adjust for inflation. No big deal. The same cannot be said for stock market investors though. That's a crap shoot.<br /><br />A good 25% of my investments are in long-term I-Bonds. I locked in much of that starting in 2000. The ones bought then are earning 3.4% over the CPI and are tax deferred for 21 more years. Thanks to the power of compounding, they are already up more than 75%. If we head into actual deflation and stay there, I'll still do fine. I-Bonds cannot earn negative interest, so are just as good as cash. Ideally, my I-Bonds would love a toggling of inflation and deflation (Greenspan's Age of Turbulence). Each inflationary step would raise their value and each deflationary step couldn't lose their value. Win combined with no lose is looking pretty good to me, especially in this environment.<br /><br />Of course, the government finally figured out the error of its ways. It lowered the annual cap from $30,000 to $5,000 on I-Bonds recently (although you can get $10k by buying in both paper and electronic forms) and sent I-Bond rates into the toilet. My horse is mostly outside the barn doors though. Whew!Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-16401226917330154562009-05-09T21:31:00.000-04:002009-05-09T21:31:00.000-04:00The Mustang "Bullitt" only comes in manual, a 5 sp...The Mustang "Bullitt" only comes in manual, a 5 speed Tremec, very enjoyable to shift although a bit tiresome in stop and go traffic, but I knew it would be that way, guess I'll just have to "man up".watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-64118346375112167322009-05-09T21:17:00.000-04:002009-05-09T21:17:00.000-04:00It seems I was a bit late to the Friday Night even...It seems I was a bit late to the Friday Night event. I do have an excuse though.<br /><br />At the risk of exposing my "best tastes" I must admit a guilty pleasure.<br /><br />I was finishing up season 3 of Dexter on DVD last night until 4:30am. I must have a dark side about me, because I find that show about a likable serial killer 100% addicting! It could very well be my favorite TV series of all time. Seriously.<br /><br />I see that you listed "No Country for Old Men" as one of your favorites. Awesome movie! I grew up in a small farming community so I could very much relate to the mood and the pace. A friend found the movie pointless, but to me that's what makes it so great (just like Seinfeld in a way).<br /><br />Further, I very much enjoyed the idea that we are not in control of every single thing that happens to us, no matter how much we would like to think so. This was true even as an audience member. I refer to how one of the main characters had something pivotal happen to him off camera (and I'm sure you know what I mean). Holy cow! That takes serious director courage, lol.<br /><br />I have added your blog to my favorites. I'll be reading what you've had to say over the months. I'm somewhat scared and terrified that you said, "I am with Kudlow!" Hahaha!<br /><br />On the other hand, "Not to worry, I am sure those saying losses are now "containable" have it right this time!" is excellent use of sarcasm so I see much promise in your writings. ;)Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-66131609788432534312009-05-09T18:41:00.000-04:002009-05-09T18:41:00.000-04:00Hello G, I wish you good luck! Good to see you ag...Hello G, I wish you good luck! Good to see you again.<br /><br />Watchtower,<br />I was thinking about car films and it seems the king of car films is Burt Reynolds. He was in Stroker Ace, Cannonball Run, and Smokey and the Bandit. <br />I forgot to ask if your new Mustang was an automatic or a manual transmission? These days most of the automatics have a "sport shift" function that can shift gears like a stick, but I do prefer the old clutch pedal work when it comes to muscle cars!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-89411136031202097392009-05-09T17:16:00.000-04:002009-05-09T17:16:00.000-04:00Hey G where have you been? Staying well I hope.Hey G where have you been? Staying well I hope.watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-8751877499600185712009-05-09T13:04:00.000-04:002009-05-09T13:04:00.000-04:00Just checking in...
G
PS: I have something new i...Just checking in...<br /><br />G<br /><br />PS: I have something new in the works. Less wait for this one to give a yes or no.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-83401440769828182252009-05-09T07:05:00.000-04:002009-05-09T07:05:00.000-04:00"The cold air intake; is it cowl induction or a cu..."The cold air intake; is it cowl induction or a curved runner near the front of the car??"<br /><br />The latter.<br /><br />About the Biden link, the long running joke between my brother and I is that when he completes his Firebird I am going to buy him one of those tacky shiny black satin jackets with a "screaming chicken" embroidered on the back for him to wear while he is "cruising" : )<br /><br />I guess that is why I found that "Onion" link so humorous.watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-62029436982297821212009-05-08T23:33:00.000-04:002009-05-08T23:33:00.000-04:00anyone play chess? I could go for a game.anyone play chess? I could go for a game.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-53618826265335945622009-05-08T23:22:00.000-04:002009-05-08T23:22:00.000-04:00From the dept of no kidding, stress tests were "in...From the dept of no kidding, stress tests were "in play" and negotiated:<br />http://www.calculatedriskblog.com/2009/05/wsj-report-banks-negotiated-concessions.html<br />wow I am surprised.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-56708074753125306882009-05-08T23:05:00.000-04:002009-05-08T23:05:00.000-04:00Kevin,
in the words of Indiana Jones "It aint the ...Kevin,<br />in the words of Indiana Jones "It aint the years, its the mileage" that makes one old! New music is pretty bad, but the song I had up tonight I do like. Try not to get too angry, one time I punched a wall in frustration (in high school) and I went through both drywalls and dented the outside wood panels of our house! My mom was not amused!<br />Watchtower,<br />1st off stop saying sorry! the comments are a forum for my readers and I strongly encourage participation! Loved the Biden-No shirt link!<br />Second: OMG!!!!! What a hot car! I am so jealous! <br />The cold air intake; is it cowl induction or a curved runner near the front of the car??<br />3.73 gears should make you very hot on the line, though they will give up at higher speeds; but who cares? the most fun in a car is in the 30mph-80mph range and how fast you can get there in my opinion. As far as restoring old cars, it is WAY labor intensive and the newer makes have better...well just about everything. Congrats on the buy, I think you did well and probably got a sick low price!<br />Lisa;<br />you usually are a night owl, I look forward to a comment tomorrow!<br />Great participation tonight everyone, I did miss you all!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.com