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Moon Kil Woong

 
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  • Bank Of America's Cycle Of Addiction [View article]
    SA was not designed to be a day traders venue and I'm disappointed that it is going this direction. In reality, the author has a good point. B of A has continued its horrible legacy of doing the wrong thing mainly because those that run it pay no price for doing the wrong thing.

    In fact the opposite happens. Becoming a bank that was going under got them TBTF status. Buying up and getting bigger preserves that. Making tons of bad home loans merely let them ague for hiding their losses with special non-mark to market accounting because it would jeopardize TBTF banks which would just cost the US taxpayer more money.

    In the meantime, virtually criminal management continues to allow criminal behavior which is protected under the guise of a virtual state bank where any penalties are a cost to taxpayers rather than the bank. It is sickening and is one reason TBTF banks which are in fact State banks should never be given such a status or special protection from the government. Abuse reigns everywhere because it is encouraged and rewarded, not the opposite.

    There is nothing wrong about writing about this regardless of where B of A's stock goes. The only reason this company is in existence is thanks to the US taxpayers and their improper ways of making money. The US needs to look at shuttering banks like these. Until they do they will continue to degrade the banking sector and harm the economy and taxpayer at large. 2X being bailed out by taxpayers is already way too much for a bank. Shutter the thing.
    Jul 25 12:23 PM | 4 Likes Like |Link to Comment
  • An End To Our Relationship With Yahoo, A New Era For Equity Research [View article]
    I'm not exactly positive about this. In reality SA needs to engage with traditional media and widen its viewership not cut itself off to make more money. SA already makes great profit and I'm skeptical about the need to cut off relations with Yahoo to pay more to contributors. This seems more like a method for self enrichment than for the good of the site.
    Jul 25 12:08 PM | 22 Likes Like |Link to Comment
  • A World Without Consequences [View article]
    I agree that the market has been unduly buffered from adversity and outright coerced into being overly optimistic. I also see a backing away by the US to pressing international incidents, however given our financial predicament, being overly involved may push us well into the same sort of financial straits the USSR dealt with before its collapse.

    The real issue is not overseas but at our door. Banks and financial institutions are being rewarded for putting the US economy in danger with TBTF banks getting bigger just to cause bigger threats to the US for their terrible management. Socialism isn't overseas, its right here as the federal government finances a majority of home loans and creates a bankdom of essentially state run banks. There are those who disagree with the giveaway because it undermines capitalism, but by and large just like any move towards socialism, people want to get in on the fixed game and don't realize until its too late that they just sold the whole country down the tubes.

    A world without consequence is a good name for what is going on. There is a consequence, the perversion and death of capitalism. When money can be created and given out for free it jeopardizes capitalism. When banks can forget about depositors and borrow endless money for zirp rates it threatens the foundations of capitalism. When the housing market is run by the government it is a signal you are not in a capitalist economy anymore. The consequences build up until one day you realize you are in a non-capitalist country with zero growth and all those in power are hooked to free money flow that does nothing for the economy or the majority of people.

    We must break the cycle before the corruption becomes absolute.
    Jul 25 02:09 AM | 9 Likes Like |Link to Comment
  • Krugman's Latest Debt Denial: Why His Two Magic Numbers Don't Cut It [View article]
    The taper cuts growth along with causing higher interest rates. Inevitably higher rates will come about, it's already affecting housing. Also, inevitably it will also drive us into a new downturn. There is no good way to taper, however as those wise enough know, tapering is inevitable.
    Jul 25 01:35 AM | 1 Like Like |Link to Comment
  • eBay Issues Debt - You Could Try The Marketplace, But Buy It Now [View article]
    Sadly buying any debt right now is a bad bet. Inflation is rising and the Federal Reserve currently has altered all interest rate paper to be artificially low. As this unwinds current debt will be severely devalued as rates rise to their norms.

    Of course, given the level of manipulation the Federal Reserve has done to rates, a reversion to the norm will drag down growth as well as have a high degree of causing another economic crash. The Federal Reserve has played an active role in creating market volatility not preventing it. Be careful with what they do. Their actions are never permanent and more often than not are designed to benefit banks at the cost of every other market participant. After all, they are the banker's guild.
    Jul 24 01:20 AM | 3 Likes Like |Link to Comment
  • Summers On Stagnation [View article]
    Strangely if you look at all socialist countries they all support and enrich the elites at the cost to all society. There is no such thing as a true socialism for the common man. It is a culture of the well connected skimming off resources and power while claiming their actions benefit the masses.
    Jul 24 01:11 AM | Likes Like |Link to Comment
  • Krugman's Latest Debt Denial: Why His Two Magic Numbers Don't Cut It [View article]
    Net investment in real plant and equipment after capital consumption allowances—has actually declined by 20% since 1999-2000. This is primarily caused by the Federal Reserve's zirpish policies that discourage investment in favor or stock buybacks. It also discourages savings especially when compounded by real inflation not the muted inflation numbers they profess. And the socialist methodology used is slowing real economic growth even with the US exporting much of the cost onto foreign buyers. Simply put, the US can't self absorb the amount of public debt it is spewing and even the Federal Reserve has to step in with QE to keep long term US treasuries from skyrocketing even as the US cuts the issues to a minimum.

    Sadly, the US government is financing most all of its new debt in short term notes. That is a big warning sign much the same way a household financing their living on credit cards leads to a lower credit score.

    Krugman looks on the bright side and sees little risk in spitting in the face of true capitalism like much of the socialist people claiming to be Keynesians but are more attracted to the outright criminal nature of making money through government and the central bank at the cost of everyone else. Even Keynes would not support such wanton stimulus over 5 years after a downturn. Anyone who does isn't an economist, they are either corrupt, a moron, or a corrupt moron.

    Jul 24 01:05 AM | 6 Likes Like |Link to Comment
  • The Stock Market Has Reached "A Permanently High Plateau" -- If The Fed Does Not Mess Up Again [View article]
    The Federal Reserve is just arguing that it has fixed the market due to its artificially low yields. Unfortunately that fix also discourages savings, investment in capital for businesses, and long term fiscal sanity and prudence. This creates the lack of recovery because everyone's too busy playing the cheap money game to actually try to grow or invest in the future. Why invest in the future when you can make your stock go up by borrowing cheap and taking your capital and buying back stock. Why care about depositors at all if your a bank that can get money cheaper from the Federal Reserve. And who cares about savings when you can't get a decent return on your savings. Once again the Federal Reserve is encouraging spending it all and running up debt. That is a long term recipe for boom bust.

    A permanent high plateau is a illusion in real economics and was the same type of ridiculousness that Greenspan spouted as he ran the US into the ground.
    Jul 24 12:46 AM | 23 Likes Like |Link to Comment
  • IMF cuts 2014 U.S. growth outlook [View news story]
    LOL people have been saying it will pick up over 3% for the last 6 months after the terrible January appeared.
    Jul 23 01:00 PM | 1 Like Like |Link to Comment
  • Home Prices Are Historically Overvalued Yet Again [View article]
    LOL overpriced homes in Asia doesn't make homes in the US undervalued or even reasonably. I agree with the author that home values are way over valued and are partially this way because the government finances the housing market with a socialist system through Fannie and Freddie Mac not unlike communist regimes. Likewise, the central bank purchase of the loans show how intractable their purchasing is since Fannie and Freddie must turn to the central bank for liquidity because the loans they make are so ridiculous no one in their right mind would hold them to maturity or default.

    Adding insult to injury is the artificially low interest rates and the financing of banks to hold property by exempting them to mark to market their real estate holdings. This keeps a mass amount of property off the market and falsifies its valuation.

    In reality, the housing bubble is reinforced even more than the last crash and is getting bigger than the last crash. When it blows up again there won't be anyone to save it because the government and Federal Reserve are in over their necks already trying to hold it up with socialistic methodologies as bad as the USSR in their inevitable utter failure at dealing with the facts of a capitalistic market.
    Jul 23 02:37 AM | 3 Likes Like |Link to Comment
  • Rock Solid Way To Beat The Market Long Term [View article]
    First, I fail to see how Blackrock is a fail safe way to beat the market. Second, I tend to look at ETFs as great ways for people to lose their money to traders and fund managers who pay themselves for churn. Inevitably, I think many will eventually realize the same and stop trading in them. The objective to good portfolios and valuation is to trade as little as possible and keep fees down.

    It is possible that Blackrock makes a pretty penny helping to run ETFs since they are simply scraping equity off of investors who don't know better, however, in a market downturn I would tend to think that this business will suffer more, not less that the overall market. And even if a downturn doesn't happen the management and trading cost of many of these ETFs must go down in order to survive which may impact Blackrock's as well as other's fees. In reality, most of these trading vehicles exist as an example of market inefficiency and ignorance and nothing more.
    Jul 23 02:28 AM | Likes Like |Link to Comment
  • Apple Earnings: A Tale Of 2 Devices [View article]
    Apple's iPad is actually hurt by having no USB plug in. Most companies will not use it due to thie fact alone. Like the iPhone, Apple's stubbornness to adapt is monumental. I hope IBM will help correct this in their next version at least.
    Jul 22 11:57 PM | 4 Likes Like |Link to Comment
  • Dissecting The Bull Case For China [View article]
    Interesting, China is trying to cut financial repression with artificially lowered rates as the US tries implementing artificial low returns on investments with QE.

    In the end China's great driver is it's gradual move to a more and more capitalistic economy. Sadly the US is moving the positive way which is why China's economy grows and the US economy grinds to a halt. In the end China's bull case is it's increasing capitalist direction which is sadly the opposite direction the US has been moving. The results are obvious. Dance with the devil and expect to be tripped up and fall. The US is falling alot thanks to its dance with QE, government bailouts, financing the housing market through government bodies, creating essentially state run banks TBTF, allowing banks not to mark to market, the state taking over failing corporations like GM, backstopping the stock market, zirp lending, and all the other classic socialistic/communistic maneuvers. You'd think Russia won the cold war looking at our behavior. At this rate China will be the flag bearer of capitalism in 100 years, not us.
    Jul 22 11:37 PM | 3 Likes Like |Link to Comment
  • Summers On Stagnation [View article]
    Galbraith, the original economist not his son, wrote about this a long time ago. In the end he brought up the fact that the future would require far fewer workers than able bodies and the concentration of wealth would continue to concentrate to the few with less and less opportunities for those who weren't wealthy.

    The simple fact is that these trends have been happening gradually, but accelerated recently as the Federal Reserve and government started backing concentration of wealth with bankers and financial institutions at the cost of everyone else including the wealthy by cutting interest rates to the bone. Capitalism with free capitalism for the few doesn't work. We are now suffering a communist issue thanks to our socialist distribution of wealth which is created without consequence to bankers which then can distribute it and acquire assets the public owns who doesn't have access to free liquidity.

    This is an utter travesty of all capitalist ideals. Inevitably it will be called what it is... socialism premised on financing the elites on the back of the public at large. Just like Communist Russia or socialist China back in the day. We are falling off the path. Our progress is slowing to the point where the lions and tigers of corruption are about ready to eat our entire economy whole.
    Jul 22 11:23 PM | 4 Likes Like |Link to Comment
  • Trouble Looming In The Market... [View article]
    The best example I can give is the housing market and collapse. It was similarly premised on "can't lose" bets supported by uncle sam and the Federal Reserve. All the government and the Fed has to do to collapse such a market is simply stop raising the amount of phony liquidity keeping it up. Already the amount shoved into the market is not sustainable and even the Federal Reserve has said some of the market valuations are simply way out of whack.

    I agree with the poster. I don't see this collapsing anytime soon. Banks and in the know people have to get a chance to dump off their bets onto the public just like the housing and every other synthetic run up. That means more pumping until an even bigger collapse maybe by the end of this year. Don't be a sucker and buy on the fake hype.
    Jul 22 11:00 PM | 4 Likes Like |Link to Comment
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