Socialism cannot compete!

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329 Comments

    • Tue Sep 30th 15:25 PM | Rating: 0 0
      Commented on:
      Monday Options Update: POT, XLF, NCC, SOV, GD, AAPL, RIMM, C, BGG
      Couple weeks back, there was a lowered crop forecast...which sent corn vaulting higher. Last time I checked, once a crop grows poorly, it can't change upwards with a bailout plan. High corn prices means farmers have money and incentive to continue fertilizing. The hit comes farther down the chain. Still a good time to own POT. Disclosure: I am long...and getting longer. ;)
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    • Tue Sep 30th 14:28 PM | Rating: 0 0
      Commented on:
      Key Flaws in the Bailout Legislation
      Here are the real flaws:

      1) It amounts to more government growth and spending. The core problem is that government is a bloated behemoth to begin with, and that the American taxpayer is stuck in credit-based living due to flagrantly excessive taxation.
      2) Government would be taking warrants for ownership in participating banks. We are not socialists - that does not go down in the America I live in.
      3) Politicians who don't listen to the people. I'm pretty sick of hearing the condescending talk from politicians who insist after we nix their plans that "the people must not have understood that this is actually for them, not just Wall Street." We understand full well -- we know that there is economic pain ahead, and we are willing to take it, because only a drastic failure will get us where we need to be: a drastic housecleaning of Washington and a severe weight-loss program of our government.
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    • Tue Sep 30th 14:20 PM | Rating: 0 0
      Commented on:
      The Great Bank Rush of 2008: What's the Money For?
      The real problems:
      1) The Frank/Dodd/etc cabal that pushed for more home ownership several years ago, thus creating this subprime mess. This was *not* W's fault.
      2) An overgrown behemoth of a government that sucks the people dry...and we have let it continue growing far too long.
      3) We...who have allowed credit-based living to become an accepted reality.

      Time to cut this corpulent, bloated, untenable, irresponsible, wasteful government back to size. And time to cut taxes drastically...back to a just and reasonable level...not to exceed 15% total in Federal taxation for *any* American.

      That, friends, is what we need to insist upon.
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    • Tue Sep 30th 14:14 PM | Rating: 0 0
      Commented on:
      What's Brewing Between China, Vale, and the Baltic Dry Index
      No way Vale gets bought by China...Brazil is making all the right moves with its key infrastructure players right now -- RIO and PBR are both critical cogs in the government's plan for economic prosperity several generations down the road. They will not let it happen.
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    • Tue Sep 30th 11:29 AM | Rating: 0 0
      Commented on:
      Looking for Hope
      You still don't get it sdcougar?? Just like the "peeple" in Washington, you think the American taxpayer didn't understand what they were saying "no way" to yesterday?? We understand full well...and we are willing to take the pain. Because it isn't just about $700B for *this* bailout. This has been looong in the making -- this is about decades of ever-growing government...Congress never being able to say no to more spending of our money...an overgrown, corpulent behemoth of a government that needs drastic cuts, with *drastic* tax cuts for *all* Americans. Over 40% of my gross is lopped off the top for Federal taxes alone. No free people lets itself be taxed the way we do -- and yesterday, the House acknowledged that it has finally heard the people, who have said "enough!!".

      A little economic meltdown is *exactly* what is needed in this country!! To get people good and mad...finally mad enough to disembowel the Beast in Washington that sucks them dry every pay period.

      If you really thought this was just about the $700B...you have alot to learn.


      On Sep 30 09:52 AM sdcougar wrote:

      > "Bailing out wall street to save main street is absolutely rediculous."
      >
      > Anyone with this mentality has their head in the sand.
      > If the financial system melts down, there go the jobs of many on
      > main street.
      >
      > For an education on this mess, see
      > www.youtube.com/watch?...
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    • Tue Sep 30th 11:22 AM | Rating: 0 0
      Commented on:
      The Credit Hostage Crisis
      You're surprised that the bill didn't pass?? You haven't been paying attention to the rape of the American people, friend! We finally stood up and said "enough!"

      1) We've been held hostage by strangulatory taxation for far too long.
      2) We've been held hostage by the financial system, whose best interest is to keep Americans in a credit-based lifestyle...their goal is to make sure we need loans, rather than be able to buy outright.
      3) We've been held hostage by a government unable to control its spending, and which is in the pockets of the financial system -- its a gang-up on the taxpayer.

      Did you really not see yesterday coming? How out of touch.
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    • Tue Sep 30th 11:18 AM | Rating: 0 0
      Commented on:
      When Regulation Works
      What's really interesting is that this time, overregulation *hurt*...even *helped cause*...this financial crisis. Sarbanes-Oxley was passed to prevent another Enron. Well, now we have "mark-to-market&q... only works when there *is* a market. When noone wants to buy your stuff, does that mean it's really worth 0? What a joke!

      Let some actuaries and accountants come up with real, mathematical formulas for how values should be assigned -- not pointy-haired legislators from Washington who are just looking to be able to say they took corrective and protective action *after* each crisis.
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    • Mon Sep 29th 17:21 PM | Rating: 0 0
      Commented on:
      What is Hank Paulson Thinking?
      "We have a current credit crises that, if not properly addressed, will definetly screw the middle class as the economy grinds to a halt."

      Wrong: the middle class is who has already gotten screwed. By paying excessive taxes for years...nay, decades, now. The middle class has already gotten screwed by having to resort to credit-based living, instead of being able to work a few years, then buy their homes outright, as my grandparents did. They were not even mid-middle class. So their home was small. But they owned it outright. And now, at least in my area, between 1/3 and 1/4th of a mortgage payment is for property taxes! It's precisely this tax burden that is UNTENABLE. What you and a good chunk of Wall Street and Washington still does not get, is that the cause and solution to this are one and the same: a massive reduction of government and of taxation is needed NOW.

      The American people have spoken to this...and thankfully the GOP House (at least) heard them loud and clear!! If what we need is a damn good economic plummet to clean house...then SO FRIGGIN' BE IT. Enough is enough. We want back what is ours: both our money and our freedom. The system as it is today is siphoning both from us at ever-faster pace. Today we have drawn a line in the sand.
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    • Mon Sep 29th 16:51 PM | Rating: 0 0
      Commented on:
      Looking for Hope
      It's a damn good day for FREEDOM!! The average citizen was able to get (enough of) government to listen to them, instead of the elite interests. The real and lasting solution is a BIG, MEGA, tax cut, along with DRASTIC cuts to government spending. It is simply far too onerous a burden for the American citizen to carry any longer, and long has been!

      Power to the people! Give us OUR money back!

      P.S. - yes, I am invested in the markets, but I let out a big BOO-YAH today after seeing the vote...despite taking a hit to my portfolio. Money comes and goes -- freedom is worth taking the hit for!
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    • Mon Sep 29th 16:47 PM | Rating: 0 0
      Commented on:
      The Deal's Getting Done, But Will It Work?
      Oh...is it?? See, that's the problem with our government -- for far too damn long, they did NOT listen. The GOP House apparently did, and we are all better off for it!! I own a fair amount of stock and am down good today...but I let out a big BOOYAH when I saw the vote. Because the **only** way we come out better for the long haul is to *finally* say NO to the big spenders who are out of bloody touch with the average American.

      You want to restore the economy? Two words: TAX CUT. And not the usual lip service...but a BIG, FRIGGIN', complete overhaul. A gutting of government agencies, and a restoration to the people of what is theirs! 40%+ to the Feds in taxes alone each paycheck is far too much. Frankly, more than 10% to the Feds is too much...no matter what income bracket you're in!! That's the traditional "tithe", and its where we should draw the line.
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    • Mon Sep 29th 16:02 PM | Rating: 0 0
      Commented on:
      The U.S. Banking System is Effectively Insolvent
      I got to the first paragraph and heard enough tripe to last a year! Nothing to do with subprime? It has *everything* to do with subprime! The would-be savior, Barney Frank, was among the leading causers of this mess. He and the usual socialist Democrat cabal led the push several years back for more lending to more Americans...despite the fact that those under discussion could not afford the loans.

      Hence...subprime...but also the origin of the laxening of lending standards -- institutions were threatened with the cries of discrimination against minorities and the poor if they refused to slacken the standards. And so it began. No downpayment necessary. That led to those normally credit-worthy obtaining further loans for 2nd and even 3rd houses, as with the increasing (but not affordable) demand, price increases escalated and they were encouraged to flip houses. But even all this is not the root cause.

      The government *did* already have a framework - one that is market-based, in fact...and ought to be allowed to function now. The FDIC is there to insure deposits, and the courts have bankruptcy procedures to handle foreclosures. Home prices need to be allowed to deflate to natural levels...not be propped up.

      The ultimate root cause is that the average American is *FAR* overtaxed, and had become accustomed to a credit-based life as a result. Government needs to be cut in half...or more...and taxes cut at least in half as well. That sounds radical, but things should never have gotten this far. Enough socialism. It doesn't work. I pay over 15% off the top of each check for Social Security and Medicare alone!! Noone should be paying 15% *total* to the federal government! THAT is why Americans cannot afford mortgages...they are far too huge of a percentage of what income is left.

      The solution to the current mess is not another government agency, but *fewer* government agencies, and drastically more of their own money back to the people!!!

      It is clear to me, that the people have just spoken to Congress on this...and the House GOP, at least, has heard them!!
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    • Mon Sep 29th 15:44 PM | Rating: 0 0
      Commented on:
      What is Hank Paulson Thinking?
      See, that's *exactly* why the American people have spoken so loudly against this plan (thus forcing the House to acquiesce)...we are not the "dumb masses" that can't see what is going on...rather, we see all too clearly how Paulson & co. are just attempting to enact yet another instance of the fleecing of American citizens. The exhibits:

      a) We continue to see a mish-mash of bank buyouts on some occasions, and prop-ups on others...with no consistency, and with the appearance that there are a few "favored" entities. No doubt the Paulson to G.S. connections are not helpful here.

      b) Much of this mess was *created* by government, not just Wall Street, in the form of making housing more universally available...enter Fannie and Freddie, lower lending standards, no-downpayment loans, etc., etc. Barney Frank (among others) was a big part of that push, and is trying to gloss over it and now claim the mantle of the salvator of the markets and the working class.

      c) You mentioned Social Security. SS and Medicare have been under discussion for years, and for years, Congress has failed to fix them. Why? The source of the problem is also what still stands in the way of the solution: a top-heavy population with the boomers entering retirement. Dig deeper, though: socialism. These programs, and much of the rest of our entitlement-focused government, are *pyramid* schemes! They are *not* sustainable given the current demographics. Sorry to those of retirement age, but it's not fair to drive the younger generations into the ground!! Socialism doesn't work, and we are beginning to pay the piper for all the programs that we have set up and cannot afford.

      d) The real answer to all of the above problems is not more government spending, ala a new agency to administer the bad assets for Paulson...nor more spending in general. But less. And not a little less. But *drastically* less. The average American is over-burdened by the tax structure. I see over 40% of my gross lopped off the top every pay period before I get a dime...how can that *possibly* be conducive to a healthy economy??

      I think we all owe the House Republicans a tremendous debt of gratitude for FINALLY drawing a line in the sand!!!
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    • Sat Sep 27th 21:26 PM | Rating: 0 0
      Commented on:
      McCain's Economics
      Felix - what a load of tripe! McCain was dead on about it being as much a governmental problem as a private banking one: a) our government is vastly overgrown and that tax burden is killing home affordability. When I see over 40% of my gross lopped off for federal taxes alone before I see a dime...small wonder middle America is stretched to pay mortgages! b) Government has not implemented good regulation - what is this voluntary stuff going on at the SEC? Cox needs to go...now! And do I need to mention SarBox and mark-to-market?

      Please sir...you show your ignorance when you claim McCain has no grip on the economy...and moreso when you claim Obama does. McCain has a record of fighting pork...as he noted last night...and Obama is the traditional Democratic big-spender -- no "Hope" or "Change" there.

      Nice try.
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    • Fri Sep 26th 11:15 AM | Rating: 0 0
      Commented on:
      When It Rains, It Pours
      @Felix: And by the way, Felix, "sudden populism" is quite inaccurate - the House GOP has long been the bastion looking out for the people. The fact that they didn't fall in lockstep with the likes of entrenched banking interests (Paulson, Bernanke, Bush, Frank, Pelosi, etc) is a d@mn good thing for the people of this country! Try looking at the alternative plan...it gets the job done and is better for the people - and last time *I* checked, that's the point.
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    • Fri Sep 26th 11:11 AM | Rating: 0 0
      Commented on:
      When It Rains, It Pours
      The Paulson plan was a joke! It's a damn *good* thing that the House GOP put up some resistance to a runaway bandwagon. What's wrong with Paulson? 1) AIG alone could eat through 500B. 700B is not enough. 2) Contrary to marketing for the plan, it will *not* make taxpayers money. When has government *ever* done anything more cheaply than the private sector could do it? Those going to buy mortgage bonds from the new federal agency down the road know they can get them for a song...it's what happened with RTC. It would happen again. 3) It does not address the core problem - the oversupply of housing vs. demand by buyers, and which is only going to get worse as boomers retire and downsize to smaller houses or condos/apartments. 4) Additionally, the mortgage affordability problem is caused by the overwhelming tax burden shouldered by American citizens...and growing government, as Paulson's plan does, only adds to that.

      The real solution: 1) Do away with "mark to market" accounting. Go to some blended formula...Newt Gingrich suggests a 3-year rolling average for valuation. I'm sure we can come up with something better than the "noone currently wants it, therefore it's worth $0" notion. 2) Massive tax cuts and downsizing of government. This is to make mortgages affordable by giving the American worker back their own money...but is needed even moreso to restore basic freedom for Americans to have control of the bulk of their own finances again! When over 40% of one's gross goes to the Feds right off the top...and another 10% in sales & property taxes later...is it any flippin' wonder that our economy is in trouble?? Let's do a reset of the tax and government, not a reset of bank balance sheets!!
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