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Ken Solonika

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  • While money manager Mark Lamkin agrees Q1 earnings give investors cause to buy stocks, he's bracing clients for rising costs of energy and raw materials to hit earnings deep into the second half of the year. "You’re setting up this market for a pretty big correction," he says, expecting a 12%-14% tumble.  [View news story]
    I predict that many will predict a pullback of 15%. Then if it happens they will claim that they were right, even if the trading and opportunity costs are greater than the 15% pullback.

    Many were predicting a pullback at 10,500. Now at 12,400.

    That's greater than 15%.
    Apr 20 02:45 PM | 4 Likes Like |Link to Comment
  • Geithner tells Fox Business News there is "no risk" that the U.S. would lose its AAA credit rating, saying political prospects for long-term deficit reduction were improving. "If you listen carefully now, I think the prospects for a bipartisan agreement are better than they have been in a long time."  [View news story]
    Yes, it was a joke.

    Reagan ran enormous deficits, as did Bush the Senior and Bush the Lesser.

    Unfunded wars and tax cuts will do that. The point was that the corporate business press - and its ideological allies - only cares about deficits when there is a Democrat in the White House, because the existence of a deficit can be used as a weapon to scale back the social wage, resulting in a greater concentration of wealth and income for the upper 1%.

    Take Ryan's plan: he voted for the Bush tax cuts, he voted for both wars, and he voted for the Bush pharma plan, yet he is called "serious" and "bold" for proposing that the Affordable Care Act be axed (increasing the deficit according to the CBO), Social Security be reduced, and taxes on the upper 1% be cut even further.
    Apr 19 12:09 PM | 2 Likes Like |Link to Comment
  • Geithner tells Fox Business News there is "no risk" that the U.S. would lose its AAA credit rating, saying political prospects for long-term deficit reduction were improving. "If you listen carefully now, I think the prospects for a bipartisan agreement are better than they have been in a long time."  [View news story]
    We need another Republican POTUS: deficits only seem to matter when there is a Democrat in the WH.
    Apr 19 10:33 AM | 4 Likes Like |Link to Comment
  • The House votes 235-193 to pass the Ryan plan that would cut federal spending by ~$6T and overhaul Medicare and Medicaid. All Democrats voted against; four Republicans opposed, including Ron Paul. The Senate is expected to come up with a much different budget plan in the coming weeks.  [View news story]
    Copy that.

    All but four House Republicans are now on record to

    (1) reduce taxes for the upper 1%, and

    (2) eliminate Medicare as we know it.

    Oh, and Trump is up 26% to Huck's 18% (all others trailing The Hair by a larger margin) in polling of Republicans reference the 2012 Republican primary.

    I suspect President Obama's approval and disapproval numbers won't matter much if this is what the Republicans have to offer.

    If unemployment is below 7.5% Obama wins in a landslide in 2012.
    Apr 15 02:58 PM | 9 Likes Like |Link to Comment
  • Apple iBank? Google Bank? Both companies are pouring resources into what they believe could be the next big mobile revolution - NFC devices replacing your credit card. Whoever "nails this technology on the head" could evolve into a major bank, says Adrian Thomas.  [View news story]
    The article mentions "security" concerns.

    Insofar as one would still need to enter a PIN after "swiping the phone" I don't see how a phone is much different from a bank card, nor is the former even much bulkier than the latter anymore. It be great if I didn't need to carry the cards around to do basic shopping.
    Apr 13 04:39 PM | 1 Like Like |Link to Comment
  • No sooner does Mark Zuckerberg succeed in swatting down the Winklevoss twins in their lawsuit against Facebook, Paul Ceglia now steps up to claim he is entitled to half of Zuckerberg's equity in the company. Ceglia says he has the emails to prove his case; Facebook says the evidence is fake.  [View news story]
    It the emails and contract are real, it appears Mr. Zuckerberg took seed capital and then dug up the tree and moved it, lying about so many things that he can't remember what he lied about.
    Apr 12 11:02 PM | 2 Likes Like |Link to Comment
  • Puda Coal Chairman Sells Half the Company; Pledges the Other Half to Chinese PE Investors [View article]
    From the PR newswire:

    "The full board, including Mr. Ming Zhao, the Chairman of Puda Coal, has agreed to cooperate in the investigation. Although the investigation is in its preliminary stages, evidence supports the allegation that there were transfers by Mr. Zhao in subsidiary ownership that were inconsistent with disclosure made by the Company in its public securities filings. Mr. Zhao has agreed to a voluntarily leave of absence as Chairman of the Board of the Company until the investigation is complete. The New York Stock Exchange has halted trading in the Company's stock."
    Apr 11 11:54 AM | 3 Likes Like |Link to Comment
  • As the government lurches toward a shutdown, David Stockman says "Bring it on... it’s the wakeup call that we really needed. The fools inside the Beltway are borrowing $100B month in and month out, and there’s nobody left in the world buying except the central banks... There’s no way that’s sustainable or viable."  [View news story]
    Ryan's proposal reduces taxes for the upper 1% while cutting services for the elderly. It's class warfare disguised as budgetary responsibility.
    Apr 8 11:05 PM | 1 Like Like |Link to Comment
  • Rep. Paul Ryan releases a new deficit reduction proposal that claims to cut $5.8T in spending over the next decade and includes major changes to Medicare and Medicaid. These problems won't get fixed because (choose one): A. they're unworkable; or B. politicians and voters don't have the stomach for such deep cuts.  [View news story]
    If Ryan is the best the conservatives can put forth...

    In an op-ed written in October 2009, Ryan said that President Obama broke his promises by cutting Medicare. Ryan complained that, “in order to pay for the trillion dollar health care overhaul making its way through Congress…hundreds of billions of dollars will be cut from Medicare.”

    And then, in a Newsmax piece, Ryan complained that the health bill would involve “10 years of tax increases and Medicare cuts to pay for six years of spending.”

    Moreover, on his congressional website, Ryan complained that the health care bill “raises taxes by more than a half-trillion dollars over the next 10 years—the largest tax increase in American history—and cuts more than a half-trillion dollars from Medicare to finance this new entitlement.”

    Paul Ryan: concerned about Medicare, except when he's not.

    Finally, CBO has repeatedly said that repealing the Affor. Care Act will increase the deficit, not reduce it. Paul Ryan: either a liar or too lazy to read CBO reports, or both.
    Apr 5 08:36 PM | 5 Likes Like |Link to Comment
  • Sino Clean Energy: Red Flags or Bad Bookkeeping? [View article]
    Audited numbers are out.

    biz.yahoo.com/e/110405...
    Apr 5 10:45 AM | Likes Like |Link to Comment
  • Sino Clean Energy: A 'Cheap' China Coal Play Poised for Massive Growth [View article]
    Audited numbers are out. SCEI is bouncing.

    biz.yahoo.com/e/110405...
    Apr 5 10:35 AM | Likes Like |Link to Comment
  • Do These Consumer Staple Stocks Belong in Your Retirement Account? [View article]
    Thank you for this piece. I have been looking at adding several of these to a dividend portfolio.
    Apr 5 12:15 AM | 1 Like Like |Link to Comment
  • Sino Clean Energy: Red Flags or Bad Bookkeeping? [View article]
    Have you ever worked in a large organization?

    Useful idiots are, well, useful.

    Given her performance on the CC, it's not an ad hom to suggest this as one possible explanation - merely pointing out the obvious. As for your cultural explanation, if she can't navigate cultural differences, then she is not qualified to be the CFO of a US listed firm, regardless of her academic credentials.
    Apr 4 01:56 PM | Likes Like |Link to Comment
  • Sino Clean Energy: Red Flags or Bad Bookkeeping? [View article]
    You were too kind.

    The CFO is either:

    1) a useful idiot, put into that position because she is easily controlled and manipulated;

    2) completely incompetent, so lacking in accounting knowledge that she is not even qualified to count the till at the end of the night; or

    3) unable to speak and write English well enough to understand what was being asked of her.

    Of course she could be all of the above. If Ren does not accept her letter of resignation, for "personal reasons", then I doubt Ren "gets it" with respect to what it will take for SCEI to be successful as a US listed firm.
    Apr 4 12:44 PM | 1 Like Like |Link to Comment
  • Book Review: 'The Ten Trillion Dollar Gamble' [View article]
    The US also rations healthcare. It rations according to income and wealth levels: those with neither get no or bad care, or they receive care and are then bankrupted. So stop the fear mongering about "rationing" and the evils of Europe. Perhaps you haven't heard, but the quality of life is far superior in Norway and Sweden compared to Mississippi and Texas.
    Apr 3 11:17 PM | 4 Likes Like |Link to Comment
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