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Dana Blankenhorn

 
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  • Third Point’s Daniel Loeb again wields his acid pen to criticize White House leadership: "It is increasingly difficult to avoid the conclusion that while Washington burns, Pres. Obama is fiddling away by insisting that the only solution to the nation’s problems - whether unemployment, the debt ceiling or deficit reduction - lies in redistribution of wealth."  [View news story]
    I hate to tell you this, but India is no Galtian dreamland. Neither is Vietnam.
    Jul 28 03:43 PM | Likes Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    Give us your wealthy, your skilled, your AmEx'ed masses yearning to make a killing. I lift my lamp beside the golden door and here's my job application.
    Jul 28 03:38 PM | Likes Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    Renewable energy improves both the economy and the jobs outlook www.azocleantech.com/n... and globally renewables represent 25% of global supply www.sustainablebusines.... We're just behind the curve.

    German workers aren't being asked for givebacks, they're not being laid-off. Germany remains prosperous, it continues to manufacture things of value, and it's committed to renewable energy.

    This sort of thing is going to happen inevitably. Renewable sources are going to keep getting cheaper, finding stuff we can burn will keep getting more expensive. We can either accelerate that shift, and win jobs in the process, or try to slow it and lose jobs as the shift occurs.
    Jul 28 03:37 PM | 1 Like Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    Law enforcement and terrorism are different things.

    I support the market, and like making money. I don't like subsidies, hidden or real, and I oppose them. I oppose below-market lease rates on land the government owns. I oppose not paying the full cost of energy, including full remediation and the pollution costs.

    Give me price equalization and you can have all your renewable subsidies back. Every last dime.
    Jul 28 03:34 PM | 1 Like Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    Compared with you, I probably am. Which is fine with me. Call me sour, call me kraut, just don't call me late for supper.
    Jul 28 03:31 PM | Likes Like |Link to Comment
  • "Ronaldo's new position - bank collateral." This isn't an Onion headline. Spain's Bankia, which holds the paper behind Real Madrid's acquisition of the soccer star, wants to use him and a teammate as collateral for borrowing from the ECB. Translated version of original story here.  [View news story]
    You're right in that. They have all sorts of assets, like their own TV networks, that no other clubs have. But they shouldn't be run so close to the edge.
    Jul 28 03:27 PM | Likes Like |Link to Comment
  • Sprint (S -17.4%) and Clearwire (CLWR -24.5%) are both falling hard following Sprint's Q2 results and LightSquared deal. Sprint's 101K net postpaid subscriber loss was worse than Bloomberg's consensus forecast of 25K, and, as Bernstein notes, the company's OIBDA margin declined Y/Y and fell short of analyst estimates. (previously)  [View news story]
    Elsewhere I offer a suggestion out of this mess. Maybe Apple could buy Sprint. They have the cash. Sprint's problem is largely due to a lack of compelling product.

    I can haz iPhone? seekingalpha.com/artic...
    Jul 28 03:26 PM | Likes Like |Link to Comment
  • It May Be Time for Apple to Buy Sprint [View article]
    Earlier today CNBC said that the company's whole problem can be summarized as "no iPhone." With Jobs you get iPhone. I can haz iPhone?
    Jul 28 03:24 PM | Likes Like |Link to Comment
  • "Ronaldo's new position - bank collateral." This isn't an Onion headline. Spain's Bankia, which holds the paper behind Real Madrid's acquisition of the soccer star, wants to use him and a teammate as collateral for borrowing from the ECB. Translated version of original story here.  [View news story]
    This is a great example of what's wrong with European club football. Clubs spending more than they can possibly take in. Real Madrid and Barcelona both do this routinely. That's why UEFA recently took some action, essentially imposing a salary cap, requiring that clubs turn a profit, and that they're no longer subsidized by idiot owners like Chelsea's Abramovich or deals like this one.

    I don't think it kicks in until next year, though.
    Jul 28 12:46 PM | Likes Like |Link to Comment
  • Bloomberg reports the Jefferson County, Alabama commissioners will not vote today on whether to file for bankruptcy - the nation's largest-ever municipal filing were it to occur. (earlier)  [View news story]
    Sad story. Birmingham has had a succession of crooked and/or incompetent mayors, going back over 30 years. But note it's the county that's broke. The county includes more than the city.
    Jul 28 12:44 PM | 1 Like Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    No, I was stating a fact. Libertarians almost invariably vote Republican. Look it up. Their vote for Republicans is actually more reliable than Republicans' votes for them.

    You can do what you want, think what you want. No one is stopping you. But I'm not agreeing with you, either.

    Sorry if that bothers you.
    Jul 28 12:41 PM | Likes Like |Link to Comment
  • U.S. health costs will rise to 19.8% of spending by 2020 from 17.6% in 2009, outpacing projected average annual GDP growth, a report says. Around 30M people will have gained health insurance by then due to Obama's healthcare program.  [View news story]
    Here 'ya go. en.wikipedia.org/wiki/...

    By making our system more like that of the Netherlands we take the first key step toward having our costs match theirs.

    Then all we need are comparative effectiveness, best practices and an end to doctors owning facilities. Those who practice this kind of medicine, like Intermountain Health of Utah, have cost structures that are up to 30% lower than others, with no reduction in quality.
    Jul 28 12:09 PM | Likes Like |Link to Comment
  • Third Point’s Daniel Loeb again wields his acid pen to criticize White House leadership: "It is increasingly difficult to avoid the conclusion that while Washington burns, Pres. Obama is fiddling away by insisting that the only solution to the nation’s problems - whether unemployment, the debt ceiling or deficit reduction - lies in redistribution of wealth."  [View news story]
    I think you meant principal. You always know how to spell principal because he's your pal.

    A big difference between American and other education systems is that we educate everyone. Finnish students, and those in other countries, are weeded out regularly through examinations and those who don't test well are either pushed into the workforce or given some other apprentice-like training.

    And while Finnish teachers aren't unionized, they don't need a union because they are given good wages, good benefits and community respect.
    Jul 28 12:04 PM | Likes Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    I just tell the truth and you think it's hell. Oh, the real Cincinnatus en.wikipedia.org/wiki/... returned power to the people and retired, which is the origin of the city name of Cincinnati. Although the city's namesake is actually George Washington, who retired to his farm after the Revolution rather than marching against the government of the time, and who later retired from the Presidency voluntarily.

    The emphasis here is on respect for other people's opinions. Try it sometime.
    Jul 28 12:01 PM | 1 Like Like |Link to Comment
  • The U.S. economy would contract by 5% and stocks would fall by nearly a third in the "very unlikely" event of a default, Credit Suisse forecasts, but the more likely outcome of no default combined with no budget deal would cause equity markets to drop 10-15%. The 50-50 chance of a ratings downgrade of U.S. debt would have little effect, the firm says.  [View news story]
    The CBO assumptions you cite do not include a reversion to the pre-Bush tax levels after 2012. Our source is the same.
    Jul 28 11:58 AM | Likes Like |Link to Comment
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