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Old 2020-03-22, 14:58   #34
R.D. Silverman
 
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Quote:
Originally Posted by kladner View Post
Re: Understanding Bill.

When we were undergrads the poker crowd (math, physics, CS. pre-med nerds) had a
saying:

Don't Gates the Cards.

Bill had a bad habit of taking his cards and holding them in his lap.

One night we were playing hold-em in the dorm (Currier House) cafeteria. This was
in 1974. [i.e. long before hold-em was popular] Pre-flop all but 3 folded. After
the flop one more dropped out. At the turn there was another bet. Bill was last to
act and moaned "Why do I always have to be the one to call?" Tom Wolff [yes,
that Tom Wolff] answered: "That's because you're such an idiot". The phrase
became a standard response to any any question within the dorm.

Our unofficial house motto was: Let's all try to be as rude as humanly possible.
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Old 2020-03-22, 15:41   #35
xilman
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Quote:
Originally Posted by LaurV View Post
So, the next step is to buy gasohol, extract the alcohol, use the pure gasoline for the car, dissolve the alcohol 40% with water, and you get whiskey... Piece of cake...
In most countries that would be called vodka. Perhaps in Thailand and/or Romania the terminology may be different.

Extracting the alcohol safely requires knowledge and equipment many people do not have. Those that do will generally use a less toxic precursor.
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Old 2020-03-22, 17:18   #36
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Quote:
Originally Posted by R.D. Silverman View Post
On "1000 Ways to Die" one enterprising young idiot wanted to get drunk, had no booze,
and had read that there was alcohol in gasoline. So, of course, he drank some.
A moment later he was throwing up violently. He might have been OK, but he did this
by an open campfire........
Yikes. Even E85 would be pretty nasty. Just inhaling the vapor, as in starting a siphon by suction on a piece of tubing, can be instantly unpleasant. Never repeated. Or a small droplet in the eye by accident.
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Old 2020-03-23, 13:20   #37
Dr Sardonicus
 
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The Fed has just announced unlimited "quantitative easing." It will buy Treasuries and mortgage-backed securities
Quote:
in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.
Welcome to the Land of Infinity!
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Old 2020-03-23, 15:05   #38
kladner
 
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Default The Fed Reopens Its Landfill for Distressed Assets -By Mike Whitney

http://www.informationclearinghouse.info/54049.htm
Here's that old saying in different attire:

"What's good for General Motors Goldman Sachs is good for the country."

Quote:
The Fed is reopening its most controversial and despised crisis-era bailout facility, the Primary Dealer Credit Facility. The Wall Street Journal describes the PDCF as “an overnight loan facility for primary dealers (that) provides round-the-clock backup source of funding to banks.” The WSJ’s description grossly understates the facility’s real purpose which is to transfer the toxic bonds and securities from failing financial institutions and corporations (through an intermediary) onto the Fed’s balance sheet. The objective of this sleight of hand is to recapitalize big investors who, through their own bad bets, are now either underwater or in deep trouble. Just like 2008, the Fed is now doing everything in its power to save its friends and mop up the ocean of red ink that was generated during the 10-year orgy of speculation that has ended in crashing markets and a wave of deflation. Check out this excerpt from an article at Wall Street on Parade. Here’s an excerpt:
“Veterans on Wall Street think of the PDCF as the cash-for-trash facility, where Wall Street’s toxic waste from a decade of irresponsible trading and lending, will be purged from the balance sheets of the Wall Street firms and handed over to the balance sheet of the Federal Reserve – just as it was during the last financial crisis on Wall Street.” (“Fed Announces Program for Wall Street Banks to Pledge Plunging Stocks to Get Trillions in Loans at ¼ Percent Interest” Wall Street on Parade)
In other words, the PDCF is a landfill for distressed assets that have lost much of their value and for which there is little or no demand. And, as bad as that sounds, the details about the resuscitated PDCF are much worse.
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Old 2020-03-23, 18:32   #39
Till
 
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Default Buy Boing?

Goldman Sachs says one should buy Boing stocks now:
https://www.investors.com/news/boein...sachs-upgrade/

I am no expert but think that Boing will be interesting in a few weeks or months; now is far too early. Goldman Sachs' proposal sounds like absolute gambling to me.

Last fiddled with by Till on 2020-03-23 at 18:32 Reason: typo
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Old 2020-03-23, 19:11   #40
ewmayer
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Re. the Fed reopening another one of its 2008-9 alphabet soup of cash-for-trash programs, isn't it funny how money to help The People through tough times requires an act of Congress, but the Fed can firehose $Trillions to bail out every overleveraged speculator iBank and hedge fund it likes simply by saying 'make it so?' Check out the list of worthy institutions in the following Wolf Richter post:

https://wolfstreet.com/2020/03/20/fe...cial-crisis-2/

And I'm guessing the newly-reopened PDCF will be buying lots of this kind of trash:

https://wolfstreet.com/2020/03/23/le...e-debt-spikes/

And to complete my trifecta of Wolf Street links:

Quote:
Originally Posted by Till View Post
Goldman Sachs says one should buy Boing stocks now:
https://www.investors.com/news/boein...sachs-upgrade/

I am no expert but think that Boing will be interesting in a few weeks or months; now is far too early. Goldman Sachs' proposal sounds like absolute gambling to me.
Given the magnitude of the institutional rot at Boeing, now running smack into the pandemic-caused next Great Depression, the stock could very well go to 0 in the not-too-distant future.
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Old 2020-03-23, 19:19   #41
Uncwilly
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Quote:
Originally Posted by Till View Post
Goldman Sachs says one should buy Boing stocks now:
https://www.investors.com/news/boein...sachs-upgrade/

I am no expert but think that Boing will be interesting in a few weeks or months; now is far too early. Goldman Sachs' proposal sounds like absolute gambling to me.
Maybe they want others to prop up their investment.
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Old 2020-03-23, 21:34   #42
Dr Sardonicus
 
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Quote:
Originally Posted by ewmayer View Post
Given the magnitude of the institutional rot at Boeing, now running smack into the pandemic-caused next Great Depression, the stock could very well go to 0 in the not-too-distant future.
Yes -- never mind the Coronavirus shock. There is still the little problem of the 737 Max, and the Starliner debacle. The last test flight, they twice nearly crashed the thing. Yet NASA had, last I checked, still not decided to require more tests before putting astronauts aboard.

Imagine the possibilities -- they do the next test with astronauts aboard, and the thing crashes into the ISS, destroying it and the Starliner, killing everyone aboard.
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Old 2020-03-23, 21:55   #43
retina
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Quote:
Originally Posted by LaurV View Post
... how to get free alcohol ...
Haha, yeah. Separating liquids is easy, everyone can do it with just a bread knife and an old slipper.

In exactly that same way, how to get free energy: Collect sunlight.

Last fiddled with by retina on 2020-03-23 at 22:08 Reason: Grammaring fixness
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Old 2020-03-23, 22:03   #44
xilman
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Quote:
Originally Posted by retina View Post
Haha, yeah. Separating liquids is easy, every can do it with just a bread knife and an old slipper.
Actually, separating most pairs of liquids is rather easy.

Doing it without causing significant damage to yourself and/or your surroundings is a different matter.

Yes, I do know how to extract ethanol safely from most mixtures which contain it. I was a chemist in a previous life and have had significant experience in the procedure. That's why I know that a 96% ethanol / 4% water mix is almost always safer to drink than anything stronger.

Incidentally, drinking 96% ethanol is an acquired skill. No-one IME knows how to do it without practice.
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