Wall Street Breakfast: Must-Know News [View article]
Government writes the rules, Apple follows the rules, Government doesn’t like the results……So naturally it is Apple’s fault and they are the problem. Sounds like my 4yo except these children own/manage a few thousand nukes.
Republican response and their preferred media; it is all due to an incompetent administration with no real ideas. We told you this would happen. Without our guidance all would be lost!
Democrat response and their preferred media; see the do nothing Republicans and their support for austerity measures are destroying the progress our Democratic administration has made. Without our guidance all would be lost!
The stories were written long ago, timing is all that needed to be determined.
Wall Street Breakfast: Must-Know News [View article]
Rich, I do not believe incompetence combined money and power produce good results, if you think it does god bless you. When government is loaded with competent managers it might make more sense to give them a little more to do; people can agree or disagree with that as they choose. But giving Alice more/better equipment to bleed Washington makes no sense. Give me a call when government is stacked with competent managers, until then it is wise to limit their influence lest they return to serving the people as they did in ultra left and ultra right wing totalitarianism seen in the 20th century. That is why I’ll choose liberty.
Wall Street Breakfast: Must-Know News [View article]
Rich in Q, I must say, your logical conclusion, from your observed perspective is quite messed up. From your perspective a decent percentage of the politicians who make up the US government are in Wonderland bleeding General Washington. So naturally you advocate giving them more money and increased power to do what? Make Alice Bigger? Just curious, how does incompetence and power drive good results?
Wall Street Breakfast: Must-Know News [View article]
berno1, I would feel just a little worse if keeping the President (you know our CEO) happy didn't cost about $1,500,000,000 annually. That isn't a dig on any one administration R or D any more than you cared that a CEO was an R or D.
Wall Street Breakfast: Must-Know News [View article]
Hello Rich, I am not sure about Quebec, but the US government has pretty much run unopposed since the American revolution… Our government isn’t like a monopoly service provider, it is a a monopoly service provider. Could you possibly be advocating that because the governing body is elected by a cross section of the population (stakeholders/stockhol... whose qualifications are determined by the governing body and bylaws are the reasons government is not/could not be a monopoly service provider?
IT, With this moment brought to you by the EU political class and the ones which are very sure to follow, Hayek comes to mind- "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
"At no point is it possible to bail-in depositors below €100K, now or in the future," Reuters reports an EU Commission statement as saying (never mind this is precisely what was attempted in Cyprus last week). It's not our job to evaluate Dijsselbloem's comments on Cyprus, the EU adds. "Dijsselbloem was wrong," says the ECB's Benoit Coeure. "Cyprus isn't a model." [View news story]
Volosgirl, As a society we have decided and chosen to subsidize risk to a greater and greater extent. The consequences of those actions are producing negative effects and has been promoting riskier decisions across the board. Your banking industry example is a good example but it is just one example. Others are as equally detrimental and costly, they include but are not limited to; disaster relief where owners are subsidized to build/rebuild in risky (high probability of flood areas and high probability of significant hurricane damage {just off the beach}). Healthcare is another example where rising societal costs in part due to poor decisions regarding calorie intake and food choices has prompted increased calls to legislate both because society is paying the bill. There are a good many more examples but hopefully you get the point. I would prefer for society to start removing away from subsidizing risk as it promotes riskier behavior, but that is just my opinion.
The ECB will continue emergency liquidity assistance for Cypriot banks if requested, according to a statement on the central bank's website. In the meantime, markets recover from a minor morning panic as Eurogroup President Dijsselbloem walks back from comments which seemingly could have started a bank run on the Continent. S&P 500 -0.3%. [View news story]
If it gets much crazier, being in debt will be the safest investment.
"What we are witnessing is the slow death of the European project," says Athanasios Orphanides, former Central Bank of Cyprus Governor. What we have, he says, are decisions being taken in Germany sequentially spreading misery to the periphery, and now it's blackmailed the Cypriot government into confiscating its citizens deposits. No one in a small or weak country should feel safe. [View news story]
So Greece gets into big trouble running up debt but is too big to fail so it gets an EU bailout. As part of the Greek bailout provided by the EU Greece’s bondholders take a haircut. “Greece’s bondholders” is in part the Cyprus banks who became the next domino. The Cyprus banks have lots of depositors and not enough bondholders to cover the loss, so right now if it sticks, the EU decided the bondholder escapes and the depositor take the hit. This is acceptable to the EU as a good many of the depositors are non EU citizens. What ever happened to bankruptcy laws and following the rule of law? And today we have another example of the altruistic homo sapien, its ability to remove self-interest from its decision making process and to successfully manage and plan its economy.
February Nonfarm Payrolls:+236K vs. consensus +160K, 119K previous (revised from +157K). Unemployment rate 7.7% vs. consensus 7.9%, 7.9% previous. [View news story]
It’s a weird time politically: the economy has been improving above what has been to date a very subpar recovery. Repubs don’t want to give Obama any credit, but the improvement has coincided with what Repubs prefer economically (reduced government spending). Dems want to say see what we have done, but during the whole spending spree the Dems preferred, our economy struggled. Clinton gets a lot of Economic credit, but most neglect that his Dem admin and the Repub Congress fought so much and agreed on so little that the gov was shut down for a while. During those good economic years when we last lived gridlock. In my opinion the American citizens are the engine of America’s growth, not the American Government. A stable even (gridlocked) Government and a dynamic activist citizenry produce wealth. Activist Government (I do not believe) produces wealth for the citizenry.
Wall Street Breakfast: Must-Know News [View article]
berbno1, I wasn’t a fan of President Bush’s economic policies, but if you believe President Obama’s were significantly different or improved the American economy, I believe you have let your political bias cloud your better judgment. Any meager improvements have been due to the American people and in spite of the federal government’s economic policies, not because of them.
The Currency War Is Not New, It's Merely Escalating [View article]
All, I could use some help from the experts please. I know this is more economics than investments, but sooner or later they will meet. Boiled down, it seems to me the new central bank trick is that if it gets printed, and it gets spent, but due to CB asset purchases the velocity remains stable, someone gets a free lunch. It just seems to me this is counter to the economic problem of scarcity, and will lead to resource misallocation, overuse and bubbles. On a separate subject, one thing I find odd regarding this is that tricking “scarcity” to produce “free lunches” should lead to resource overuse; still politically today the free lunch crowd and the environmentalist crowd are on the same side of the political fence. I don’t see that marriage lasting forever.
Wall Street Breakfast: Must-Know News [View article]
Sounds like my 4yo except these children own/manage a few thousand nukes.
Initial Jobless Claims: +32K to 360K vs. 330K consensus, 328K prior (revised). Continuing claims -4K to 3.00M. [View news story]
Democrat response and their preferred media; see the do nothing Republicans and their support for austerity measures are destroying the progress our Democratic administration has made. Without our guidance all would be lost!
The stories were written long ago, timing is all that needed to be determined.
Wall Street Breakfast: Must-Know News [View article]
I do not believe incompetence combined money and power produce good results, if you think it does god bless you.
When government is loaded with competent managers it might make more sense to give them a little more to do; people can agree or disagree with that as they choose. But giving Alice more/better equipment to bleed Washington makes no sense.
Give me a call when government is stacked with competent managers, until then it is wise to limit their influence lest they return to serving the people as they did in ultra left and ultra right wing totalitarianism seen in the 20th century. That is why I’ll choose liberty.
Wall Street Breakfast: Must-Know News [View article]
I must say, your logical conclusion, from your observed perspective is quite messed up. From your perspective a decent percentage of the politicians who make up the US government are in Wonderland bleeding General Washington. So naturally you advocate giving them more money and increased power to do what? Make Alice Bigger? Just curious, how does incompetence and power drive good results?
Wall Street Breakfast: Must-Know News [View article]
I would feel just a little worse if keeping the President (you know our CEO) happy didn't cost about $1,500,000,000 annually.
That isn't a dig on any one administration R or D any more than you cared that a CEO was an R or D.
Wall Street Breakfast: Must-Know News [View article]
Bailing In [View article]
With this moment brought to you by the EU political class and the ones which are very sure to follow, Hayek comes to mind- "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
"At no point is it possible to bail-in depositors below €100K, now or in the future," Reuters reports an EU Commission statement as saying (never mind this is precisely what was attempted in Cyprus last week). It's not our job to evaluate Dijsselbloem's comments on Cyprus, the EU adds. "Dijsselbloem was wrong," says the ECB's Benoit Coeure. "Cyprus isn't a model." [View news story]
As a society we have decided and chosen to subsidize risk to a greater and greater extent. The consequences of those actions are producing negative effects and has been promoting riskier decisions across the board. Your banking industry example is a good example but it is just one example. Others are as equally detrimental and costly, they include but are not limited to; disaster relief where owners are subsidized to build/rebuild in risky (high probability of flood areas and high probability of significant hurricane damage {just off the beach}). Healthcare is another example where rising societal costs in part due to poor decisions regarding calorie intake and food choices has prompted increased calls to legislate both because society is paying the bill. There are a good many more examples but hopefully you get the point.
I would prefer for society to start removing away from subsidizing risk as it promotes riskier behavior, but that is just my opinion.
The ECB will continue emergency liquidity assistance for Cypriot banks if requested, according to a statement on the central bank's website. In the meantime, markets recover from a minor morning panic as Eurogroup President Dijsselbloem walks back from comments which seemingly could have started a bank run on the Continent. S&P 500 -0.3%. [View news story]
"What we are witnessing is the slow death of the European project," says Athanasios Orphanides, former Central Bank of Cyprus Governor. What we have, he says, are decisions being taken in Germany sequentially spreading misery to the periphery, and now it's blackmailed the Cypriot government into confiscating its citizens deposits. No one in a small or weak country should feel safe. [View news story]
The Cyprus banks have lots of depositors and not enough bondholders to cover the loss, so right now if it sticks, the EU decided the bondholder escapes and the depositor take the hit. This is acceptable to the EU as a good many of the depositors are non EU citizens.
What ever happened to bankruptcy laws and following the rule of law?
And today we have another example of the altruistic homo sapien, its ability to remove self-interest from its decision making process and to successfully manage and plan its economy.
All Men Are Mortal: Lessons From Chavez's Passing [View article]
I look forward to the wisdom and insights you freely offer, you do not disappoint.
Thank you!
February Nonfarm Payrolls: +236K vs. consensus +160K, 119K previous (revised from +157K). Unemployment rate 7.7% vs. consensus 7.9%, 7.9% previous. [View news story]
Obviously my contortions sent you in the wrong direction (my apologies).
Let me be clear, I give credit to the American people, not to either party.
A stable non activist government, and an engaged activist citizenry are the growth engine.
February Nonfarm Payrolls: +236K vs. consensus +160K, 119K previous (revised from +157K). Unemployment rate 7.7% vs. consensus 7.9%, 7.9% previous. [View news story]
Clinton gets a lot of Economic credit, but most neglect that his Dem admin and the Repub Congress fought so much and agreed on so little that the gov was shut down for a while. During those good economic years when we last lived gridlock.
In my opinion the American citizens are the engine of America’s growth, not the American Government. A stable even (gridlocked) Government and a dynamic activist citizenry produce wealth. Activist Government (I do not believe) produces wealth for the citizenry.
Wall Street Breakfast: Must-Know News [View article]
Any meager improvements have been due to the American people and in spite of the federal government’s economic policies, not because of them.
The Currency War Is Not New, It's Merely Escalating [View article]
I know this is more economics than investments, but sooner or later they will meet. Boiled down, it seems to me the new central bank trick is that if it gets printed, and it gets spent, but due to CB asset purchases the velocity remains stable, someone gets a free lunch.
It just seems to me this is counter to the economic problem of scarcity, and will lead to resource misallocation, overuse and bubbles.
On a separate subject, one thing I find odd regarding this is that tricking “scarcity” to produce “free lunches” should lead to resource overuse; still politically today the free lunch crowd and the environmentalist crowd are on the same side of the political fence. I don’t see that marriage lasting forever.