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MajorG

MajorG
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  • Why the National Bank of Greece Is a Buy [View article]
    Default for Greece could very likely mean a return to the Drachma and that is not good. The longer it takes for this matter to find finality is terrible for the banks as they are seeing huge runs. People are getting their money out of the country, much less the banks. That will lead to many failures and has zero to do with their holdings in sovereign debt. That comment is so far off base it's laughable.

    Perhaps the best way to save the Euro is to have Germany leave and let the Euro devalue to par (or maybe less) to the dollar.

    Johnbee - your comment shows an incredible lack of understanding of how markets function. You give much too much "power" to hedge funds. Hedge funds didn't make Bear and Lehman fail - their lousy management teams did!
    Apr 28 11:00 AM | 2 Likes Like |Link to Comment
  • Why the National Bank of Greece Is a Buy [View article]
    This is a classic value trap. They may not default in May but Greece has little ability to repay this debt. Eventually, a debt restructuring is the only way to rectify the situation with any long term benefit. In the meantime, your capital is at risk being invested in anything in Greece.
    Apr 28 08:18 AM | 6 Likes Like |Link to Comment
  • Boston's mayor threatens to use eminent domain and seize a stalled-out construction site if building doesn’t begin ASAP. Vornado Realty Trust (VNO) had promised it would replace a torn-down building with a $700M mixed-use development, but the project shows no signs of getting under way.  [View news story]
    Seriously? I don't give a rat's ass if the owner lets weeds grow 10ft tall on that property. IT"S THEIR PROPERTY! What part of property rights do you not understand? The use of eminent domain against someone because you don't like what they are doing is a massive violation of Constitutional rights. Let me take a stab at your political affiliation...Democrat? Green? Or just straight up socialist?
    Apr 14 10:31 AM | 1 Like Like |Link to Comment
  • Boston's mayor threatens to use eminent domain and seize a stalled-out construction site if building doesn’t begin ASAP. Vornado Realty Trust (VNO) had promised it would replace a torn-down building with a $700M mixed-use development, but the project shows no signs of getting under way.  [View news story]
    Nice to see that perverting the Constitution and political office hasn't waned one bit. He should be impeached and tossed out immediately for violating his oath of office.
    Apr 14 10:00 AM | 2 Likes Like |Link to Comment
  • What can America learn from Greece's travails? Paul Krugman: "We need to steer clear of deflation, or even excessively low inflation... America’s public debt will be manageable if we eventually return to vigorous growth and moderate inflation. But if the tight-money people prevail, that won’t happen - and all bets will be off."  [View news story]
    LMAO at this. You obviously understand nothing about Greece or how things work inside of that country.

    Right away, Germany is blamed for Greece's problems when they are "merely" abiding by the law, and no mention - NOTHING - of Greece's belligerence in this process with protests, fires, and audacious language from the leaders of the country. Greece's PM reminds me of little ankle biter dogs. They have a ton of bark, but nothing with which to back it up. They are powerless fools putting on a show.

    Then blame falls upon deflation for Greece's problems. Oh really? The unions getting ridiculous rules passed for their members like retiring at 50 and categorizing 500 jobs as "hazardous" had nothing to do with it? I suppose that living on a pension for LONGER than one even worked is no big deal. INFLATION is the most dangerous thing for a country's currency, but of course Keynesians believe that inflation is a good thing. How is destroying one's purchasing power a good thing?

    Greece lied to get into the Euro and has been nothing but a drag on the Eurozone since it joined. It has contributed nothing acting merely as a subsidized child of the grown ups in Germany - essentially more socialism. The comparison to post-WWII America is beyond absurd. How can you write garbage like that and keep a straight face? Have you no shame?

    Next is the assertion that growth is only achievable through inflation and currency debasement. Brilliant argument. I'm sure that America pre-1913 would disagree with you. What happened after that? Oh right - the creation of the Fed and the devaluation of the dollar by over 95%. That sounds great! (Note the extreme sarcasm)

    Greece's answer is not only "savage spending cuts and tax increases", they can also try to organically grow their tax base by becoming friendlier towards business. I don't expect Mr. Krugman to really know as I'm sure the cabbie that drove him to the Acropolis was quite nice, but Greece is very unfriendly to business. How can any country expect to survive when it is a barren wasteland to people that want to succeed? The only success is in union jobs paying 2-4x as much (if not more) than other jobs and those jobs are then bequeathed to the children of the workers. Nepotism...it's fantastic!

    Overall, this "editorial" shows an embarrassing understanding of history and of how Greece operates and has operated for decades. Mr. Krugman would be well severed to stay confined to his utopian unicorn-land otherwise known as a college campus where theory serves as reality instead of reality itself.
    Apr 9 03:15 PM | 7 Likes Like |Link to Comment
  • What can America learn from Greece's travails? Paul Krugman: "We need to steer clear of deflation, or even excessively low inflation... America’s public debt will be manageable if we eventually return to vigorous growth and moderate inflation. But if the tight-money people prevail, that won’t happen - and all bets will be off."  [View news story]
    Someone needs to muzzle this moron. Can someone rescind his PhD? He's obviously unworthy of that distinction.
    Apr 9 02:11 PM | 7 Likes Like |Link to Comment
  • "Eventually housing will come back," says Alan Greenspan, because "it can't get any lower." Though house prices appear to have bottomed, they're still fragile, and the U.S. won't be out of the crisis until home prices see a real stabilization.  [View news story]
    One of the smartest idiots in the world...up there with Krugman.
    Mar 25 11:53 AM | 6 Likes Like |Link to Comment
  • “We must succeed at putting a stop to the speculators’ game with sovereign states,” German Chancellor Merkel says after talks with Greek Prime Minister Papandreou. She dismisses talk of aid for Greece, saying that the stability of the euro region “is a given today, and that’s why the question doesn’t arise today.”  [View news story]
    More idiocy from politicians. No one has the financial firepower to short sell a country like Germany or Greece into bankruptcy. It's the same ignorant argument blaming the people who sniff out the problems and look to profit from the ultimate end result instead of fixing the problem.
    Mar 5 02:29 PM | 2 Likes Like |Link to Comment
  • Abby Joseph Cohen still thinks the market is undervalued, calling for the S&P 500 to target 1,250-1,300. Cohen's known for calling the '90s bull market, though she also thought tech would be a good bet in 2001, when it tumbled 26%. (previously)  [View news story]
    How is she still employed?
    Feb 17 11:11 AM | Likes Like |Link to Comment
  • Should Krugman Replace Bernanke? [View article]
    Yeah - this is a great idea. (extreme sarcasm) Put another "intellectual" in there. Krugman has ZERO experience with real life and he would be a disaster. People who live in the guarded sanctuaries of college campuses have no business being in real policy influencing roles. They live in a world of ideas, not a world that is actually impacted by those ideas.
    Jan 25 03:44 PM | 1 Like Like |Link to Comment
  • Joe Weisenthal makes the case for Tim Geithner, not Ben Bernanke, as 2009's Person of the Year: "It was Geithner who, very early on, proposed that the federal government simply backstop all the bank debt in America. At the time, that seemed like a laughably absurd idea, and it was dismissed. So, politicians and regulators and the Fed tried one thing after another to stem the crisis, but the sucker was in a tailspin... Ultimately, the only thing that worked was Geithnerism."  [View news story]
    Great Idea! Laud the guy who was asleep at the wheel as head of the NY Fed. Brilliant! When I read stuff like this, it really makes me wonder how these people are employed. They shouldn't just be jobless, they should re reviled and shunned from their industry.
    Dec 28 12:30 PM | Likes Like |Link to Comment
  • Regions Financial (RF) shares now up 8.9% as CEO Dowd Ritter says "absolutely not" to whether the firm needs more capital. Ritter said nonperforming loans should decline within the next several months.  [View news story]
    Take what? The company is functionally bankrupt and they even admitted it. If they marked their loan portfolio to FMV they would be underwater by $20B!
    Sep 15 03:15 PM | 1 Like Like |Link to Comment
  • Goldman Sachs' (GS) Abby Joseph Cohen gets her bull on, to CNBC: The S&P could hit 1,100 this year. "We do think the new bull market has begun ... Clearly many people were looking for better signs on the economy, and now we're getting them."  [View news story]
    She's hasn't been right since the momo 90s and a monkey throwing darts at a board could have mirrored her "success" back then. I can't believe she has any shred of credibility at all.
    Aug 6 03:14 PM | 4 Likes Like |Link to Comment
  • iSuppli takes an early peek under the Palm Pre's (PALM) hood, and finds it costs just $138 to build. That's cheaper than the iPhone (AAPL) and the Storm (RIMM) - and about half of what it's expected to charge Sprint Nextel (S).  [View news story]
    There was a report out last week that Sprint was only going to charge $150 for the phone. Even if Palm can sell it for 2x its cost, the stock is still pricing in sales of around 6+M phones when expectations are closer to 2M in sales.
    Apr 29 12:25 PM | 1 Like Like |Link to Comment
  • Pre-Paid Legal Services (PPD): A pyramid in collapse?  [View news story]
    I was shorting this POS years ago under the same reasoning being used here. Somehow, this thing is not just still alive but trading in the 30's! Amazing. Honest;y, I had totally forgotten about it until now and I need something to shoot at, so thanks for the reminder!
    Apr 23 12:25 PM | 1 Like Like |Link to Comment
COMMENTS STATS
33 Comments
80 Likes