Wall Street Breakfast: Must-Know News [View article]
We now have a law in the U.S. that says horses can not be used for meat, not even dog food. Before you could take your old, broken down horse to the slaughter house and get a couple hundred $$ for it. Now we have horses being starved to death as owners don't want to spend money on a useless horse, and horses being abandoned along side a road.
Another case of the Law of Unintended Consequences at work, proving people aren't very bright.
Wall Street Breakfast: Must-Know News [View article]
Cut spending? can't happen. As Republicans just learned, you can't get elected talking cuts. The demographics have changed... Reagan couldn't get elected today.
70% of blacks are born out of wedlock, 50% for Hispanics, the fastest growing group. Whites are catching on with about 30% now. These moms are VERY dependent on government. They get their monthly check, rent subsidy, electric, healthcare, and Pell grants from the government. The kids grow up learning you get what you need from Uncle Sam. This has been going on for some time now. They vote against anyone suggesting cuts. We now have more people in the wagon than pulling, and we import more daily.
It should be obvious that we will be like Greece soon, but the difference is there is no one to stop the spending. We'll just print it. That will trash the currency, destroy wealth, but that's easier for the politicians than cutting spending.
Wall Street Breakfast: Must-Know News [View article]
Let's see, top AIG employees can either continue to work sans the big bucks they are used to, or they can quit and get a big pile of $$$, retire or go work somewhere else. Seems like a no brainer to me.
So I take it the Feds can ditate pay, but not golden parachutes? How'd they miss that?
Wall Street Breakfast: Must-Know News [View article]
It appears Congresscritters are falling all over themselves to cave to the Air Traffic Controllers union and/or the Obama administration.
There is no reason for any slowdown except for politics. The average load per controller has DROPPED 25% over the last decade. There are airfields that average ONE take off or landing per hour! This fields should never had a tower in the first place, but, hey, if you got $$ to spend...
It's the ol' 'give us the $$ or we'll cut police and firemen' and 'your kids will walk to school'. The private sector knows how to produce more with less, but government rebels at the concept.
Retirement Outlook: Get Ready for 'Age Warfare' [View article]
The eventual running out of SS money [something that may or may not happen] is NOT the issue! Back in the early '90's SS taxes were increased and have been an enormous cash cow, providing trillions for Congresscritters to spend. Now that boomers are retiring, the cash cow has gone dry. THAT is the issue!
Yes, the younger generation really does resent the older. That plus Congresscritters missing their spending money will combine political preasure to reduce the payout. Already I hear key Democrats say 'SS is an INSURANCE program, not a retirement program! If you don't need it, you shouldn't get it, so those who do, can!'
My advice, if you are of SS age, is to ignore the SS literature suggesting you postphone taking benefits until you need them, or to age 70. Sure, the numbers make sense, but not when you factor in the chances benefits will be reduced or eliminated for those who don't 'need' them. Take the money and run!
Boomers paid the taxes that built up the trust fund. Congresscritters sold them the idea to insure they get benefits. Now it is funded well past the time every boomer will be in the grave. But the real reason for the tax was to give Congresscritter lots of money to spend. Now there is no extra $$ coming in... sooo... time to cut benefits!
Wall Street Breakfast: Must-Know News [View article]
As a talking head pointed out, if the Republicans can't beat this president, with his record, in this economy, they might as well just shut it down. This election was Romney's to lose, and he has been doing a good job losing it. People have been thinking if he is not competent enough to run a campaign he is not one that should be seeking the presidency. His ads are so softball I'm thinking his people have been infiltrated. Again, if Romney can't see this... Romney seems to be only slightly better than McCain, and is getting the same predictable results. If this is the best Republicans can do, why bother? The only chance they have is maybe the Dems will nominate someone even more an incompetent campaigner, like Algore. Obama may be a hard core leftist in the image of his mentor Davis, but he knows how to run a campaign. Lots of effective Obama ads on the internet, I see. Have yet to see one from Romney. Surprising considering how well he destroyed his Republican primary opponents.
Wall Street Breakfast: Must-Know News [View article]
This is a problem that goes beyond some idiot teacher and political correctness. Long ago Stalin told big government leftist to get control of the educational system and the media and they'd have control of the country within a few generations. Disarming the population is a tenant of the left, so the people have no means to resist. The push is on to demonise guns in the schools. One more generation to go...
Squatters: 4.4 Million and Counting [View article]
Was talking with a retired lawyer with lots of $$ who bot a unit in Trump towers for over $1 million. The units are now worth about $350k, and all the owners have stopped paying. They are talking with the banks about simply forgiving the difference. If they can't work that deal, they are talking about buying each other's units when the banks foreclose. Any way you look at it, the banks are going to have to eat it.
At least these guys aren't stripping the place. The total number of housing units available is rapidly shrinking, a number the statistics don't show, due to the trashing of foreclosed housing.
Wall Street Breakfast: Must-Know News [View article]
Glass-STeagal was the fix to the problem of mass bank failure in the '30's. It served us well for decades. In the 80's I noticed the banks pushing the limits of their restraints, like children, and nobody doing anything about it. I remarked to my fellow stockbrokers that we'd all be working for banks someday. "But we have Glass Steagal" they replied. Under Clinton, intense lobbying finally succeeded and the law was repealed. We see the results only a decade later. Didn't take long, did it? The lesson was obvious, but never underestimate the political power of the banks.
Wall Street Breakfast: Must-Know News [View article]
You obviously aren't a student of history. Unenlightened Congress caused the Great Depression, Reagan inherited an economic mess from Carter, then fixed it with tax cuts, Bush tried several times to halt the 'credit for everyone' policies that brought us the housing bubble, but leftist Dems wouldn't hear of it. Nice revisionist try, tho.
Wall Street Breakfast: Must-Know News [View article]
Don't worry, the Fed can't go broke. What they are doing now is financing the budget deficit. Not even China will lend the U.S. more money at these low interest rates as it has become obvious the debt can't possibly be paid back. They do this in two ways... they give banks money for no interest, and the banks are told to buy treasuries and make the spread..... and they buy paper directly. Think of the Fed as a slight of hand trick that masks the reality that the government is just printing the money they spend.
So Where Did All That QE Money Actually Go? [View article]
We need to go back to a system where banks take in deposits and make loans... and that's it! If you want to insure junk bonds, trade derivitives, etc, you are something else, not in the banking system, don't get government insurance, aren't to big to fail. Until we stop banks from transferring their risks to governments [look what is happening with bank held Greek paper] every time something goes bad we will only lerch from one disaster to another.
Wall Street Breakfast: Must-Know News [View article]
Wall street hurt by gov shutdown? Sheech, a snowstorm shuts them down, big deal. Enough hand wringing already.
Obama, Reid, Boehner meet... can you imagine these characters agreeing on anything? I imagine B losing it, strangling Reid and Obama sitting there trying to figure out how stopping the fight would help save Obamacare.
I heard Trump saying Obama never put together a deal in his life [while Trump has put together hundreds]. He's got a point... we need better talent in DC before this train leaves the tracks.
Wall Street Breakfast: Must-Know News [View article]
The Federal government wants to tax muni bonds???? Am I the only one to blow a vessle over this? Why do you think they've never taxed muni's and the States have never taxed interest on Federal treasuries?
It's because it in the CONSTITUTION! The States are prohibited from taxing treasuries, and visa versa! Back in the bad ol' days of a top tax bracket of 90% [FDR wanted 100%], people had no choice but to put their money in muni's. What would you do? Now the Feds want to close that 'loophole'? All they have to do is ignore the Constitution .... which is done every day .... sigh.
Just one issue the posters haven't hit on [wow, where did they all come from?]: BO a failure? He has gotten everything he wanted! Lots of spending, and the crown jewel, Obamacare! Lots of wins, where are the losses that indicate he is a failure?
If the Reps win big, you still can't count Cap 'n Trade out. There will be a big push in the lame duck session. Plus more spending. Then BO will only have to sit back and veto any overturn attempts. Mission accomplished, as they say.
As for taxes, at best BO will extend the Bush rates on the lower income brackets. And that is if we believe what he is saying. He has a talent for saying things that get votes, so look for a lot of talk leading up to the election.
Dividend and capital gains taxes will go back up, of course. And the taxes to pay for Obamacare kick in. Bad news for the economy no matter how the election turns out.
Wall Street Breakfast: Must-Know News [View article]
Another case of the Law of Unintended Consequences at work, proving people aren't very bright.
Wall Street Breakfast: Must-Know News [View article]
70% of blacks are born out of wedlock, 50% for Hispanics, the fastest growing group. Whites are catching on with about 30% now. These moms are VERY dependent on government. They get their monthly check, rent subsidy, electric, healthcare, and Pell grants from the government. The kids grow up learning you get what you need from Uncle Sam. This has been going on for some time now. They vote against anyone suggesting cuts. We now have more people in the wagon than pulling, and we import more daily.
It should be obvious that we will be like Greece soon, but the difference is there is no one to stop the spending. We'll just print it. That will trash the currency, destroy wealth, but that's easier for the politicians than cutting spending.
Wall Street Breakfast: Must-Know News [View article]
So I take it the Feds can ditate pay, but not golden parachutes? How'd they miss that?
Wall Street Breakfast: Must-Know News [View article]
There is no reason for any slowdown except for politics. The average load per controller has DROPPED 25% over the last decade. There are airfields that average ONE take off or landing per hour! This fields should never had a tower in the first place, but, hey, if you got $$ to spend...
It's the ol' 'give us the $$ or we'll cut police and firemen' and 'your kids will walk to school'. The private sector knows how to produce more with less, but government rebels at the concept.
Retirement Outlook: Get Ready for 'Age Warfare' [View article]
Back in the early '90's SS taxes were increased and have been an enormous cash cow, providing trillions for Congresscritters to spend. Now that boomers are retiring, the cash cow has gone dry. THAT is the issue!
Yes, the younger generation really does resent the older. That plus Congresscritters missing their spending money will combine political preasure to reduce the payout. Already I hear key Democrats say 'SS is an INSURANCE program, not a retirement program! If you don't need it, you shouldn't get it, so those who do, can!'
My advice, if you are of SS age, is to ignore the SS literature suggesting you postphone taking benefits until you need them, or to age 70. Sure, the numbers make sense, but not when you factor in the chances benefits will be reduced or eliminated for those who don't 'need' them. Take the money and run!
Boomers paid the taxes that built up the trust fund. Congresscritters sold them the idea to insure they get benefits. Now it is funded well past the time every boomer will be in the grave. But the real reason for the tax was to give Congresscritter lots of money to spend. Now there is no extra $$ coming in... sooo... time to cut benefits!
Wall Street Breakfast: Must-Know News [View article]
His ads are so softball I'm thinking his people have been infiltrated. Again, if Romney can't see this...
Romney seems to be only slightly better than McCain, and is getting the same predictable results. If this is the best Republicans can do, why bother? The only chance they have is maybe the Dems will nominate someone even more an incompetent campaigner, like Algore. Obama may be a hard core leftist in the image of his mentor Davis, but he knows how to run a campaign.
Lots of effective Obama ads on the internet, I see. Have yet to see one from Romney. Surprising considering how well he destroyed his Republican primary opponents.
Wall Street Breakfast: Must-Know News [View article]
It's not about gun control, it's about control.
Squatters: 4.4 Million and Counting [View article]
At least these guys aren't stripping the place. The total number of housing units available is rapidly shrinking, a number the statistics don't show, due to the trashing of foreclosed housing.
Wall Street Breakfast: Must-Know News [View article]
In the 80's I noticed the banks pushing the limits of their restraints, like children, and nobody doing anything about it. I remarked to my fellow stockbrokers that we'd all be working for banks someday. "But we have Glass Steagal" they replied.
Under Clinton, intense lobbying finally succeeded and the law was repealed. We see the results only a decade later. Didn't take long, did it?
The lesson was obvious, but never underestimate the political power of the banks.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
What they are doing now is financing the budget deficit. Not even China will lend the U.S. more money at these low interest rates as it has become obvious the debt can't possibly be paid back. They do this in two ways... they give banks money for no interest, and the banks are told to buy treasuries and make the spread..... and they buy paper directly.
Think of the Fed as a slight of hand trick that masks the reality that the government is just printing the money they spend.
So Where Did All That QE Money Actually Go? [View article]
Wall Street Breakfast: Must-Know News [View article]
Obama, Reid, Boehner meet... can you imagine these characters agreeing on anything? I imagine B losing it, strangling Reid and Obama sitting there trying to figure out how stopping the fight would help save Obamacare.
I heard Trump saying Obama never put together a deal in his life [while Trump has put together hundreds]. He's got a point... we need better talent in DC before this train leaves the tracks.
Wall Street Breakfast: Must-Know News [View article]
It's because it in the CONSTITUTION! The States are prohibited from taxing treasuries, and visa versa!
Back in the bad ol' days of a top tax bracket of 90% [FDR wanted 100%], people had no choice but to put their money in muni's. What would you do? Now the Feds want to close that 'loophole'? All they have to do is ignore the Constitution .... which is done every day .... sigh.
Obama's Loss Is the Economy's Gain [View article]
If the Reps win big, you still can't count Cap 'n Trade out. There will be a big push in the lame duck session. Plus more spending. Then BO will only have to sit back and veto any overturn attempts. Mission accomplished, as they say.
As for taxes, at best BO will extend the Bush rates on the lower income brackets. And that is if we believe what he is saying. He has a talent for saying things that get votes, so look for a lot of talk leading up to the election.
Dividend and capital gains taxes will go back up, of course. And the taxes to pay for Obamacare kick in. Bad news for the economy no matter how the election turns out.