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  • The first step in Damien Hoffman's 12-step plan to begin to fix our economic problems and bad habits: Buy local. "Maybe people will think twice about buying the cheapest possible item if they know it’s literally bankrupting our economy [or] pay the extra buck to buy local knowing that this will create solid communities with stable jobs."  [View news story]
    If I had all the natural resources in the US, that would work. We have iron ore, forestry, fertile farming land, oil, natural gas, coal etc. There's a reason people waged major wars for this land.

    And of course, you didn't read the post. I didn't say we should stop trading with other countries. I said we should balance the wealth we export with the wealth we import. But clicking through and reading is hard these days ...

    The fact that people are so resistant to buying from their neighbors is another example of why we're in this catastrophe. But they are the same people who demand a raise at work or complain about stagnant wages. Do you not see why your wages aren't going up? The labor pool supply is growing faster than you can learn a new skill.

    We don't have to pay up for things that last more than 1-2 years and aren't a bunch of pressed cardboard with a fancy facade. But if we don't want to pay our neighbors for quality goods, then we're choosing to ironically enrich other countries which will ultimately figure out how to do our jobs too. That's the endgame in case you can't think that far ahead. That problem disappears if you buy local.
    Aug 23, 2010. 07:49 PM | 1 Like Like |Link to Comment
  • Wendy’s, Chili’s Still Getting Smacked Down by McDonald's [View article]
    LOL. No reason to read the 10Q after that.
    Aug 12, 2010. 09:54 PM | 2 Likes Like |Link to Comment
  • Cheat Sheet to Apple's iPad [View article]
    Thanks for sharing your insightful perspective with us. iPad is very good at listening to their customer and making the necessary improvements to their products to meet the demand of the ultimate buyer: the consumer!
    Aug 12, 2010. 03:21 PM | 1 Like Like |Link to Comment
  • Cheat Sheet to Apple's iPad [View article]
    We just reviewed the 1st generation iPad. There will obviously be updates to the 2nd generation iPad. Thank you for sharing your feedback!
    Aug 12, 2010. 03:19 PM | 1 Like Like |Link to Comment
  • Cheat Sheet to Apple's iPad [View article]
    This is why the iPad will define the new Golden Age for Media as newspapers gradually phase out...
    Aug 12, 2010. 03:18 PM | 4 Likes Like |Link to Comment
  • Cramer's Stop Trading! The Fed Said Good Things. Buy (8/10/10) [View article]
    Don't worry everyone: Cramer was up a monster 31% in 2009 ... and the SPX rallied 83%.

    Res Ipsa Loquitur.
    Aug 11, 2010. 09:17 AM | 8 Likes Like |Link to Comment
  • Doug Kass, who called the market bottom, now thinks we're approaching a top: "The economic outlook for the second half of 2010 still looks less than certain, especially relative to the magnitude of the market's rise and to the rise in animal spirits that has accompanied it."  [View news story]
    Uh, Kass has called more tops than a newbie to a nudist colony. I've written about a ton of them.

    Here is one of several:

    wallstcheatsheet.com/b.../
    Aug 5, 2010. 10:55 PM | 4 Likes Like |Link to Comment
  • Is Libya the World’s Biggest Sucker or a Sovereign Warren Buffett? [View article]
    LOL. I wonder if the fund needs the work "Junk" added for disclosure purposes.
    Jul 22, 2010. 01:10 PM | Likes Like |Link to Comment
  • Is the Baltic Dry Indicator Flashing Yellow? [View article]
    Imports to West Coast's busiest ports have rebounded 30% y-o-y. (WSJ)

    This definitely doesn't align with the BDI.
    Jul 20, 2010. 12:26 PM | 3 Likes Like |Link to Comment
  • Alcoa Earnings Beat by Penny, Revenues Shine [View article]
    AA's business is horrible. Agreed.
    Jul 13, 2010. 12:15 PM | 1 Like Like |Link to Comment
  • Why So Much Ignorance on Gold? [View article]
    You must admit, Gold has more intrinsic value than paper currency.
    Jul 13, 2010. 11:12 AM | 7 Likes Like |Link to Comment
  • Why So Much Ignorance on Gold? [View article]
    The bottom line is the mainstream media is not in the business of educating people. It's a fact that controversy, contrarianism, and shock raise ratings and page views.
    Jul 13, 2010. 11:10 AM | 4 Likes Like |Link to Comment
  • 10 Reasons Why We Are Headed Into a Recession [View article]
    These are great points. However, the establishment is not rosy. Bearishness is predominant right now. Double-dip is the meme.

    Second, although Baltic shipping is down, air and rail are up.

    I see a mixed bag more than an overwhelming case for heaven or hell.
    Jul 9, 2010. 12:47 PM | Likes Like |Link to Comment
  • Challenging Prechter's Apocalyptic Call [View article]
    And yes, I think the government will use any means necessary to avoid chaos (and Dow 1000 would be guns and looting chaos). That is the core of what government does.

    And, if the US markets drop 90%, that would cause global chaos. I have a sneaking suspicion every government will work together to avoid the Apocalypse.

    Spend some time looking at news articles from the 70's. People were saying the same frightful things then. I think it says more about human nature and psychology than the way things truly unfold.

    Everyone is free to believe the world will fall apart tomorrow. It's been preached for thousands of years, yet we're still progressing despite some setbacks.
    Jul 9, 2010. 09:43 AM | 1 Like Like |Link to Comment
  • Challenging Prechter's Apocalyptic Call [View article]
    First, this was a blog post -- not a law review article. So yes, I did not do a comprehensive differentiation between the 40's and today. However, there are plenty of posts on our site which address these issues and many more.

    The thesis of this article is that Prechter is making an incredibly bold claim, and his entire supporting evidence is something called Elliot Wave theory. That's right. It's 100% chart reading. And, since I've written this post I have received emails from Prechter subs who said he went double-inverse the SP in Nove 2009 and Jan 2010. They lost a ton of money. That's what I am most interested in: track records.

    Prechter has made a few great calls over the years. But from what I am starting to gather, he has made some horrible ones too. I ask: should we care that he is looking into a chart and seeing Dow 1000?

    Most of the comments challenge the fundamentals of my points. Prechter is NOT a fundamentalist. The guy looks at his charts, then works backwards to find some reasons to support his claim. In this case he is looking back 300 years ago. That sounds reasonable?

    Just asking ...
    Jul 9, 2010. 09:36 AM | 1 Like Like |Link to Comment
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