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Joel Sanders

Joel Sanders
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  • The Housing Market Is Starting To Get Hammered [View article]
    Yep: there's an inventory shortage, but no vacancy shortage. Even though listed inventory is tight, many vacant homes are being held off the market:
    Mar 28, 2014. 02:39 PM | 1 Like Like |Link to Comment
  • 'Keynesian' Myths And Misunderstandings [View article]
    But wealth and allocation of human capital is still distorted. "I'm gonna become a government ditch digger instead of a medical doctor because it pays better, I have a pension for life and I'll never get fired no matter how bad I am at my job."

    Yes, Asbytec, real wealth creation is destroyed!
    Mar 22, 2014. 01:06 AM | Likes Like |Link to Comment
  • 'Keynesian' Myths And Misunderstandings [View article]
    "Only" 20% of the total?? How many people running the fed vs. population of the rest of the country (or the world)?
    Mar 22, 2014. 01:01 AM | Likes Like |Link to Comment
  • 'Keynesian' Myths And Misunderstandings [View article]
    "Public debt is a private sector asset."

    But the government does not produce anything worthy of trade.
    Mar 22, 2014. 12:50 AM | Likes Like |Link to Comment
  • Peter Schiff Is Wrong On Gold... Again [View article]
    Calling too-big-to-fail banks the "Atlas" upon which the entire world's businesses depend is utterly arrogant and spitting in the face of the true "Atlases" on which the world depends for everything: entrepreneurs and innovators.

    In the world of entrepreneurship where I live, if I make bad decisions, I face the consequences of lost customers, and if I mess up enough, I go out of business. No government rescue is coming to save my small business.

    In Robert Wagner's economic paradise (apparently, the one we already live in) that should happen to everyone else, i.e., those without the proper political connections, but NEVER to Too-Big-To-Fail "Atlases" and other politically-connected cronies.

    What a crock!
    Mar 20, 2014. 04:58 PM | 2 Likes Like |Link to Comment
  • Peter Schiff Is Wrong On Gold... Again [View article]
    The finance industry has been engineered to take a far higher percentage of global profits than it deserves through the special monopolies and protections the government guarantees it through the Federal Reserve system. The misallocation of capital the author ignores guarantees profits to banks & financial services organizations-- and bonuses to their executives-- who are able to take private gains while socializing their losses. So here we are 6 years later, and the same people who caused the financial crisis are still leading the same institutions, and taking huge bonuses the entire way.

    Undeserved / outsized profits in the Financial Services industry lead many of our best and brightest young minds where? Into the financial services industry! NOT into entrepreneurship, medicine, engineering and other fields where their dedicated work could make real contributions. Sorry, Robert, but that's a misallocation of human capital.
    Mar 20, 2014. 01:05 PM | 3 Likes Like |Link to Comment
  • Will The 'Green Economy' Trigger The Next Global Financial Crisis? [View article]
    I agree that subsidies to prop up the so-called "green" energy are bad, but the traditional petroleum industry is probably the most subsidized industry in history by a wide margin. The construction of highways, public parking facilities, etc., are all indirect subsidies to auto manufacturers, public airports are indirect subsidies to the airlines, and so on. Also, how much would it cost to ship oil from the Middle East if the USG didn't spend money to prop up our oil interests there? The Navy, CIA efforts, the wars in Iraq and Libya...I'd say there are plenty of ways that traditional energy production receives help from government to keep prices low!

    Since there's no even playing field, supporters of green industries justify subsidies as a way to catch up. As a believer in free markets, I'd argue that a better approach would be to remove the direct & indirect subsidies enjoyed by the oil industry and the green industry (or any other industry, for that matter) but that just ain't gonna happen.
    Mar 17, 2014. 07:16 PM | 10 Likes Like |Link to Comment
  • The Stars (And Russian Troops) Are Aligned For Higher Gold Prices [View article]
    Gold was already rising before Russia entered Crimea, which like Georgia in 2008, will eventually fade into the rearview mirror without much fanfare. More important for Gold's medium-term future is the continuation of physical buying in Asia (which has seen sharp declines) and whether sellers are truly exhausted from the multiyear decline.
    Mar 16, 2014. 12:30 PM | 6 Likes Like |Link to Comment
  • 1987 Vs. 2014: Should We Be Concerned About A Crash? [View article]
    No plunge protection team:
    Mar 14, 2014. 09:21 PM | Likes Like |Link to Comment
  • The Nuclear Option: Russia's Threat To Dump Treasuries [View article]
    To the author's point: Foreigners just sold $100 Billion in Treasuries in the last week, nearly the equivalent of Russia's total holdings ($138 Billion). The market says, "Ho-hum."
    Mar 14, 2014. 02:54 PM | Likes Like |Link to Comment
  • 2 Black Swans That Could Crush The Housing Market [View article]
    Alicat: What you describe has been the case in Miami for decades:
    Mar 13, 2014. 07:04 PM | Likes Like |Link to Comment
  • 2 Black Swans That Could Crush The Housing Market [View article]
    DHI Insiders' number of shares bought (last 12 months): 5,390; Number of Shares Sold: 451,465. RYL = 28,203 purchased, 509,213 sold. KBH is pretty much even-steven at about 60,000 shares bought & sold.
    Mar 12, 2014. 10:03 PM | Likes Like |Link to Comment
  • Existing Home Sales Miss Expectations And Continue To Decline [View article]
    We are already back in subprime mode:
    Feb 23, 2014. 09:36 AM | 1 Like Like |Link to Comment
  • A Brief History Of Gold And Why It's Overvalued By A Factor Of 2 [View article]
    Interesting take. I'm one of those goofball gold bugs, so it's refreshing to hear this perspective.

    As for gold's disconnect from the CPI in your graph, I'm in the "this time it's different" camp. There weren't many Asians buying gold in the 20th Century. Nor has there ever been the massive increase in the monetary base that we've seen since 2008. Or the simultaneous "race to the bottom" of all major currencies. The Germans asked for their gold back, and we're not sending it to them (for their own good, of course?) Comex (near) shortages & the disconnect between physical & paper gold. The list goes on and on.

    I also know that Gold Bugs in the 80s were parroting a similar narrative, only to have their heads handed to them over the next 15 years...but I'm still sayin' this time's different!

    Feb 13, 2014. 09:00 PM | Likes Like |Link to Comment
  • December Existing Home Sales: The Housing Bear Market Is Back [View article]
    Nice report. I was also intrigued by your article co-authored with Paul Craig Roberts on Gold Manipulation earlier this week. In your view, are we looking at a short- to medium-term crash in real estate (1-3 years), followed by a massive run-up as the Fed goes into QE warp drive? In other words, assuming QE infinity (taper-schmaper!), isn't the ultimate price of all real assets (including real estate) much, much higher?
    Jan 25, 2014. 02:49 PM | 1 Like Like |Link to Comment