Socialism cannot compete!

204 Comments

    • ON: Fri Oct 10th 16:56 PM
      Commented on:
      This Isn't a Bottom, It's a Disturbance in The Force
      @sheople: he didn't say throw *all* your cash back in now. those who bail out in panic right now...and wait too long to come back in...only serve to be the out side of the trade for those who don't panic and are willing to get in there first. you don't go all-in right away...but at these valuations, dipping the toes back in is a must.
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    • ON: Fri Oct 10th 13:04 PM
      Commented on:
      What Happens When Banks Are Nationalized
      @carey_jim: There are good reasons for protective tariffs! They can cut both ways. So it's not de-facto a refusal to compete -- tariffs can also be used to force other countries to compete on fairer terms, rather than under-cutting on labor because of their lower standard of living, or fascist governments that create cheap labor conditions and exploit their own people. Or do you deny that the loss of so many jobs overseas has helped kill the American middle class and helped bring us to this point? That and the excessive taxation have brought the American worker to ruin!! And we are now paying the piper.
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    • ON: Thu Oct 9th 17:44 PM
      Commented on:
      What Happens When Banks Are Nationalized
      People are complicating the obvious when they talk about all of this. The core problem is simple, and the solution is simple. Core problem: too much credit. The average American is tapped out. Why? 30-40% of their gross goes to Fed taxes. That's the first hurdle. Then they face the others -- state, local, property, sales taxes, etc. Hardly any discretionary left after that, so they turn to credit. The solution: we've GOT to lower that first hurdle...DRAMATICALLY.

      The solution the government has been pursuing, and continues to pursue, is *more credit*...more socialism by ever-bigger government, as it buys *private* debt and assets...and attempts to clear the way for easier credit again! It's a big ramp-up of spending and debt!! The absolute opposite of what is needed.

      Kill the debt problem by drastically lowering that first hurdle, and you *automatically* get consumer spending going again -- it will help many with their mortgage payments, thereby resolving a good portion of that...and also help with additional discretionary spending. And not only *without* the moral hazards of the government socialist big-spending "solution"..... with an *increase* in the justness and moralness of the economic structure!! Because giving people back more of what is theirs is **ALWAYS** the right thing to do!!

      C'mon people, let's get on our Senators and Reps to rethink all this and CHANGE DIRECTIONS!!
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    • ON: Thu Oct 9th 17:32 PM
      Commented on:
      Treasury Anomalies: Disruptions in the Relationship between Swaps and Bonds
      50-70T? Try 500T. Can you say...toast!?
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    • ON: Wed Oct 8th 17:34 PM
      Commented on:
      Is This the Nasdaq or a Dollar Store?
      @SmartyPants: WRONG!! Buy on the way down, in increasing increments!! Sell on the way UP, again in increments!!
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    • ON: Wed Oct 8th 17:32 PM
      Commented on:
      Attractive Values - Fast Money Recap (10/7/08)
      One guy says FCX is cheap and get in...the other says it doesn't matter, noone wants in. Who to believe? Believe yourself...and the fundies. Forced selling may have put the price in the crapper for a while now...but we're heading into earnings season, and those who don't sell...or avoid buying tremendous bargains due to fear and panic...will be sitting pretty after earnings come out!

      Another point:
      "Najarian told viewers to look at General Electric and Goldman Sachs, which are trading below the prices that Buffett bought in at."

      Um...fine...but Buffett is diluting everyone else. And he didn't buy common stock -- he gets his own preferred shares that pay 10%! I'm not jumping in on that deal -- both GE & GS now have additional cost overhead to pay Mr. Buffett.
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    • ON: Wed Oct 8th 15:47 PM
      Commented on:
      Global Coordinated Rate Cut: Nice Try, but the Party Is Over
      The consumer is tapped out, but I disagree entirely with your cause. At the root of things, the average worker is FAR OVERTAXED. You need to look at the long view to see this building over decades. It is how we have become a credit-driven economy. The first hurdle is now too high for the average person to jump over...and thus the 2nd or 3rd is barely cleared or not at all. Translating the metaphor: we have now reached a point where most average households watch 30-40%+ of their gross income go to the Federal government (first hurdle). Then there are state taxes, property taxes, sales taxes, vehicle registration, fees for burning or disposal of "special" garbage. The list goes on and on, ever-building, never lessening. Is it any flippin' wonder that we can't make the bloody mortgage payment??

      The solution: cut the overgrown government to the core, and drastically cut taxes for *everyone*!! That first hurdle needs to be alot lower so that the hurdlers can keep running --> have some discretionary income left over to both save and spend -- that's how we get growth without ending up over-indebted!!

      The Paulson plan (as well as both candidates' economic plans) calls for socialist bailouts of banks and homeowners. It WON'T WORK. Maybe short term. But not in the long term!! Because all it amounts to is more bloating of government...higher spending...and re-greasing things for renewed lending...how often did you not hear all the talking heads talk about needing to get the credit markets working again, or we'd all perish?? That's *exactly* the problem!! Why are we reliant on credit?? Well-run businesses don't need short-term credit. If it's not turning a profit...LET IT FAIL!! Those are businesses that aren't getting it done to begin with. Seizure of the credit markets is not the cause of their going down!

      Quit the socialism...it does NOT work!
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    • ON: Wed Oct 8th 15:34 PM
      Commented on:
      Crazy P/E Ratios
      @JasonC:

      "Because authorities have decided to indulge a populist desire to slaughter the banks out of envy and resentment."

      Huh?? Wrong! The authorities have decided to BAIL OUT the banks at populist expense!!! You, sir, are an idiot and have it exactly BACKWARDS!!

      "Support capitalists or you have no capital. Law of nature, not up for discussion."

      Yeah, the way to support capitalists is to LET FREE MARKETS WORK. Not to socialize the downside. Again, you have it backwards. The authorities right now are tampering in a bad way with capitalism -- they are taking out those who were wise at the knees: a) by making them help pay for the failures of the unwise, b) by artificially inducing pricing that reneges the value of their wisdom to wait for market correction before buying in. This is NOT conducive to capitalism for the long haul -- it teaches the wrong lesson to the unwise, and punishes the wise.

      Try again another time.
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    • ON: Wed Oct 8th 15:26 PM
      Commented on:
      Cramer: Dow Could Drop Another 14%, Oil's Going to $50



      On Oct 07 08:09 PM jcrash wrote:

      > I love people bitching about raising the cap gains tax. You really
      > think you are gonna have any cap gains to report in the next 4 years?

      Um...yeah, actually! :) Sorry you aren't doing as well.


      >
      > And you can quit debating McCain vs. Obama, because Obama has it
      > in the bag at this point, given the economic situation. Iraq + Palin
      > + Economic Calamity is the perfect storm for the Republicans.

      Not. Cuz more taxation and more socialism are exactly the *wrong* answer to an over-indebted economy!

      > And yeah, I'm a Republican, but I'm also tired of having my rights
      > revoked by lies, my President lieing to his country, and my money
      > disappearing.

      You better check your facts again, then. Both regarding which presidents have lied to the people (vs. just making unpopular decisions, that regardless of popularity, have prevented further attacks on Americans). And you want to watch money disappear? Get ready for the Great Obama Tax & Spend show!! Because he's all about redistribution of wealth...the politics of envy...increased reliance on government...and he's *NOT* gonna be able to do it by taxing only the top 5%. Not with the government taking over payment for healthcare...that single initiative alone will bankrupt this country. Noone is even mentioning that Medicare is failing...if we already can't afford it for just the elderly, how in hell are we gonna pay for *everyone*?? Government as a provider is NEVER CHEAPER than the private sector!! Competition drives the cost down.

      Please...quit falling for the style and rhetoric, and examine the policy proposals, and the facts surrounding them!!
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    • ON: Tue Oct 7th 18:10 PM
      Commented on:
      Inflation Could Cure Our Economic Ills
      "Similarly, household debt as a percentage of disposable income (measured as income after taxes) grew from 89% to 127%."

      And THAT is exactly the problem!!! TOO DAMN MUCH TAXATION!! Cut the legs out from under the government -- it needs massive shrinkage. We need to cut it to the core, and return the bulk of THEIR OWN money to the people!!

      The overhead of the "big government" we have is far too high: it prevents the consumer-investor from being nimble, and constrains disposable income to a much smaller percentage of gross than it should be! This amounts to a high hurdle that the consumer (who is 2/3 of GDP) must jump over *before* being able to do discretionary spending. Since we are spoiled and have gotten used to "things"...w... have borrowed (excessively) in order to have them. Meanwhile the government burns our money.

      IT MUST STOP. We want and need back what IS OURS.
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    • ON: Tue Oct 7th 17:51 PM
      Commented on:
      Mosaic Misses Earnings and Brings Down the Sector
      "I mean, do you think you can get it for a P/E of 3 next week?"

      Heh. Actually...maybe! I mean, there's no longer any rationality in the market. Why not 3?
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    • ON: Tue Oct 7th 17:36 PM
      Commented on:
      Silver Linings in the Panic Selling and Madness
      "CLH talks like my broker and history proves them right"

      Hah! Best joke all day. My broker was a joker. Decided I didn't need the overhead. The way "they" are fighting this is highly inflationary...look for commodities to pop, especially gold, given that it is safe in both circumstances!
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    • ON: Tue Oct 7th 17:23 PM
      Commented on:
      Global Market Roundup: Will the Bailout Work?
      @Bill James: grammar check, please!

      @Shiv: "take time to work its magic"?? There is no magic to it. And it will not work. That was a scam, a farce...it serves only the banks and to further indenture the people, by handing over yet more control to the government. The real solution? Massive cuts to government and massive TAX CUTS. I'm not talking 5% or even 10%. I'm talking, cut the federal government to the core, and a flat tax never to exceed 10% on *anyone*. That is just...and it's overdue. Sooner or later enough people will wake up and demand it. This economic situation may just be the time that it happens. Hopefully!!
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    • ON: Tue Oct 7th 13:35 PM
      Commented on:
      Too Soon to Move From Equities to Gold
      It's also the traditional season for a gold boom: people buy for fall weddings, and the Christmas holidays. And inflation is going to really heat up...globally. We're looking at concerted global currency devaluation. Best get some gold NOW (contrary to the author) rather than after the coming JUMP!!
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    • ON: Tue Oct 7th 13:31 PM
      Commented on:
      Why You Should Keep an Eye on the Credit Markets
      Humbug!!! Credit markets are dying for good reason -- we never should have taken on so much credit. Neither consumers, nor business. We will all be better off after learning to live *without* credit. And that is the MAJOR mistake of the bailout plan: yes it's also a travesty that we are putting it on the backs of the taxpayer...but the main flaw is its core goal: to grease and reprime the credit markets. Why does it make sense to play the shell game and resituate banks for more lending, when it is precisely TOO MUCH debt that is the problem??

      We heard the fear-inducing from the federal government (almost every branch and office) about how vital it was to pass "the plan" so that main street businesses could get the credit flowing again that they needed for day-to-day operations! What? That says to me that many businesses are on life-support!! If they are dependent on credit markets to fund day-to-day operations, as opposed to longer-term debt for expansion, etc., they were operationally unsound BEFORE this mess went down!

      In other words...quit propping up failures!! We need to MASSIVELY reduce overall debt, not shift it and reload for more lending!! This means: we need to cut government to the CORE and have DRASTIC tax cuts, the like of which have NEVER been seen, since the American Revolution!! The real problem is hyper-taxation, and the economic overhead that creates -- that is the real barrier to growth and to clawing our way out of this hole...because it is exactly the hole of not having disposable income to buy things (including homes) outright...caused by paying 40%+ to the Feds alone, followed by state, local, property taxes, plus vehicle reg, etc., etc., etc. There's NO WAY to live debt-free unless you manage to bust way out of the middle class, or have never made it that far, and you live on the entitlements.

      It's simply gotta stop. Flat tax, never to exceed 10% (that is a tithe after all...and why should "Caesar" get more than God?). The time is NOW!! Say NO at the polls to socialist, big-government candidates!! Email and call your Congressmen and Senators and DEMAND drastic cuts to government and your TAXES. Demand your FREEDOM and MONEY back!!!
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