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  • JinkoSolar Sell-Off Provides Opportunity [View article]
    Yes canb888, thanks for pointing that out, you're right, of course. They also issued notes. It must have been late when I wrote it because in the very same link in the article, it says this:

    ["The Company received aggregate net proceeds of approximately US$272.1 million from these offerings"]

    A bit embarrassing, but it happens..
    Jan 27 06:34 PM | Likes Like |Link to Comment
  • Why We Are Keynesians [View article]
    Ok, D.V. Gendre, thanks for that clarification. I didn't consider myself particularly Keynesian until I realized that we're in a deeply Keynesian world post 2008/9 crisis:
    - A global savings glut
    - A fairly large output gap still
    - deleveraging in many advanced economies
    - US houshold debt declining
    - 7M+ jobs disappearing in the US (and probably more in europe)
    - public sectors mostly embarking on austerity
    - most wages stagnant or even declining
    - income shifting from low savers to high savers
    - tight credit
    - liquidity trap

    All of this points to a serious demand deficiency, aka a Keynesian world.

    If and when the circumstances change, I'll change my opinion. I just argued in favor of a huge tax, mainly as a supply side measure even if France also suffers from much of the above. But for me, it's horses for courses. Hope that helps.
    Jan 27 12:22 PM | 3 Likes Like |Link to Comment
  • Why We Are Keynesians [View article]
    You certainly have a point there, Herb, thanks for that.
    Jan 27 11:55 AM | 1 Like Like |Link to Comment
  • Sell-Off At Destiny Provides Big Opportunity [View article]
    So, it's just the ones that select stocks you disagree with that are "shameless stock promotors" "empty suits" and "just lucky" when they went up.

    If you disagree with a particular stock selection, simply write your own article and explain why it's a bad choice, instead of launching empty broadsides at the author which tells people more about yourself than the author in question.

    But I guess that's too much hassle and/or not the reason why you're here.
    Jan 27 11:07 AM | 1 Like Like |Link to Comment
  • Sell-Off At Destiny Provides Big Opportunity [View article]
    So that makes everybody who writes any buy recommendation of any stock on SA or anywhere a "shameless stock promoter", every academic an "empty suit" and everybody that advised stocks that had upside were just lucky because of the bull market.

    Good to know, thanks!
    Jan 27 10:45 AM | 1 Like Like |Link to Comment
  • Is The U.S. Bankrupt? [View article]
    Well, the deficit crashed from 11% to under 4% and this is the only figure that matters. Whether the $ figure goes up is neither here nor there. Again, there is a simple public sector budget constraint that says that with a normal 5% nominal GDP growth:
    - a 4% deficit converges public debt/GDP on 80% of GDP
    - a 3% deficit converges public debt/GDP on 60% of GDP
    Etc.

    You might also keep in mind that dealing with the budget deficit now impacts GDP negatively, the so called denominator effect. This is what happened in Italy, where a large austerity effort nevertheless led to a rise in debt/GDP from 118% to 130% in just two years.
    Jan 27 09:38 AM | Likes Like |Link to Comment
  • Why We Are Keynesians [View article]
    You argue economist only make political points, and then you go on to make your own. At least I used quite a bit of data to substantiate my claims. And above in the comment section I gave you my version of what caused the housing boom and bust.
    Jan 27 09:29 AM | 3 Likes Like |Link to Comment
  • Sell-Off At Destiny Provides Big Opportunity [View article]
    Or lets call you for what you are. A troll, following me around:
    http://bit.ly/1e1lx4H

    Even here, with factless broadsides about a stock you know nothing about.

    And yes, I first advised to buy IOC at..$25.75, NQ at $8.30, and Destiny at 82 cents
    http://bit.ly/16HnjyP

    Terrible me.
    Jan 26 11:17 PM | 2 Likes Like |Link to Comment
  • The Ticking Time Bomb Under The World Economy [View article]
    ["Italy's crisis is that most of its economy is artificial"]

    I see that your comment count is over 10,000 with these talking points. I hope you get paid for these anti-government rants because as long as I know you, you always make the same comment. It's always and everywhere the government's fault.

    I'm reading a book by Ha-Joon Chang at the moment, you could do with reading it.

    Here is a bit of capitalism: they led Lehman brothers fail. How did that work out? Let alone if they had let the others fail as well.

    I guess it was also the governments fault that they didn't regulate derivatives markets, so banks could abnegate from their primary economic function, the assessment of creditworthyness, give everybody with a pulse a mortgage, repackage these in inscrutable complex derivatives, sell them to unsuspecting investors and thereby get the risk of their balance sheets, which enabled them to rinse and repeat.

    You mean that kind of capitalism?
    Jan 26 10:37 PM | Likes Like |Link to Comment
  • Why We Are Keynesians [View article]
    Yes, I actually thought about Cullen during my discussion with Cyniconomics, I used to follow Cullen quite a bit a few years ago. Cullen is an MMTer. I readily admit that I don't know too much about the post-Keynesians, a few names, Victoria Chick, Paul Davidson, Ive studied some of their work but really like two decades ago, could even be longer.
    Jan 26 10:13 PM | Likes Like |Link to Comment
  • The Ticking Time Bomb Under The World Economy [View article]
    Bit of a semantic discussion as the euro would probably continue in the South. At least that's what I had in mind with Germany leaving, as the South can then devalue and honor all its contracts that are written in euros, so that's the least disruptive way to set these countries free of the constraints they're under. It won't be painless though, but we saw from Argentina in 2002 that one can recover rather quickly if the economy is so deeply depressed that even after a steep devaluation there is little chance for inflation to take off (of course, inflation did take off in Argentina, but this was five years later and could have been avoided).
    Jan 26 10:03 PM | Likes Like |Link to Comment
  • The Ticking Time Bomb Under The World Economy [View article]
    Sorry for the typo. 'g' and 'ch' are somewhat interchangeable in Dutch

    Yes, I do read authors I disagree with. I just read your comment, what's more, I'm even going to respond to it, albeit briefly, and no doubt not to your satisfaction. Even under the classic gold standard, recessions were far more frequent.
    http://bit.ly/1i24oXw
    http://econ.st/1i24n5S
    http://bit.ly/1i24n5T
    http://bit.ly/1i24n5X
    http://bit.ly/O4nywx

    I have to admit that I stop reading when somebody blames all ills on "fiat money" That's simply a bridge too far for me.
    Jan 26 09:47 PM | Likes Like |Link to Comment
  • Why We Are Keynesians [View article]
    ["To illustrate your point on trend following: the author points to Argentina as an example of what happens when you over stimulate an economy at full capacity. It fits the theory fine except that Argentina is nowhere near its output capacity and has hyper inflation. It just devalued its currency. Now if the author wishes to argue that a 9% unemployment rate falling to 6.8% triggered "full capacity" and the current meltdown taking place I would love to hear it."]

    You might try to remember from your economics degree that different countries can have wildly different NAIRUs. Unions are MUCH stronger in Argentina compared to the US, so that isn't a surprise.

    I agree that the Argentinian story is a little bit more complicated, than a Government who should have hit the brakes instead of the accelerator in 2007, but that's the essence of it. There is more demand than supply and this is accomodated by the Central Bank.

    ["I also have a degree in Economics, however I personally find that Keynesian theory is usually espoused by those with little or no real world business experience"]

    Running a business and running an economy are really different things.
    Jan 26 09:33 PM | 2 Likes Like |Link to Comment
  • Is The U.S. Bankrupt? [View article]
    Fair point. From memory, I don't know, it's quite some time ago. I remember The Economist warning about bubbles. Then there was Greenspan with his irrational exuberance (1997, I believe), but neither are left wing, and here's the thing. The stock market was certainly overheated, but was the economy?

    Many were buying the "new economy" ICT revolution stuff, and that wasn't entirely nonsense. I actually wrote about that some two years ago:
    http://bit.ly/1cjKbf4

    And then there was that govt surplus..
    And low inflation..
    Jan 26 09:14 PM | Likes Like |Link to Comment
  • Why We Are Keynesians [View article]
    ["The FED is always wrong, it's the nature of the beast. When all you have is a hammer every problem has a tendency to get treated like a nail ( be that head, claw, butt , or edge)."]

    Forgive me for not being immediately persuaded by that line of argument, and I don't really get paid at all. I'm retired.
    Jan 26 05:04 PM | 2 Likes Like |Link to Comment
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