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cstauffer

cstauffer
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  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    Trucking regulation is just one example. You can extend this to banking, insurance, healthcare, etc. My point again is that regulation which is necessary on a federal level should be unified and consistent from state to state. That of course does not mean that enforcement should not be administered on a state or regional level, but the regulations and laws should be regulations and laws of the land, not state to state.

    That's my two cents on the subject.
    May 16, 2011. 09:40 AM | 1 Like Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    Economic Analyst, another clarification for the benefit of this discussion between us is that I am a small business owner and very much an entreprenaur in every way. I am in no way an advocate of absolute central authority, however on the other hand whether it is local, state or federal, our society is based upon a representative "central authority". I would not advocate watering down the representative aspect of our form of government, however within that context we certainly can strive the eliminate the provincial nature of our forms of government at different levels. Anotehr great example is the waste that is created by having trucking companies comply with 50 different sets of regulations as there trucks move goods across our country. In this example the complaince costs is very high and to your point, what are the redeeming qualities for "the people" to have each State dictate a untique set of regulations other than increasing the costs and inefficiencies shipping goods from one part of the country to another.
    May 16, 2011. 08:30 AM | 1 Like Like |Link to Comment
  • Why Bill Gross Is Wrong... in the Short Term [View article]
    Very interesting a thought provoking article. The analysis of the correlation of various economic indicators help me validate the premise which I formed in December that the very optimistic upward revisions to economic growth which occurred at that time for 2010 were overly optimistic.
    May 16, 2011. 08:18 AM | 1 Like Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    Economic Analyst, my comment was a follow on comment made by TonyP4 regarding how the country would be managed if it were a business. What happens when a business has too many redundancies? Look what GM and Ford did with their redundant business lines, care models and dealer network when they needed to get more cost efficient? Let's face it, if we ran our country like a business we would not choose to have 50 states because it does not make any business sense. There is no reason why New Hampshire, Massachussets, Vermont and Rhode Island could not be one state. Same goes with North and South Dakota. Anyway, I am not making a political statement, I am just stating the obvious extension of the discussion of running the country like a business.
    May 14, 2011. 03:58 PM | 1 Like Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    What about consolidation and the elimination of redundancies such as 50 state departments of banking, transportation, education, and revenue? Why do we need to just live with the heavy cost of having 50 states which came into existance with little thought of the needs of the country as whole, but were pieced together as a result of powerful land owners protecting their own interests.
    May 13, 2011. 03:00 PM | 1 Like Like |Link to Comment
  • Wall Street hopes John Boehner will offer reassurance in his NYC speech tonight that Congress will "negotiate and debate" but "when it comes down to brass tracks, they are going to raise that debt ceiling." Instead, the House Speaker appears set to demand trillions in cuts to get a debt ceiling hike, setting up a collision course with Pres. Obama and Democrats.  [View news story]
    Joe, I don't disagree with small but structure cuts which will result in meaningful long-term cuts to the deficit. You and I agree that stimulous spending should have been in areas which boosted exports and improved productivity through improved and updated infrastructure. The problem was that at the moment that the stimulous bill was being formulated we were losing 700,000 jobs per month and it would have taken 12 -18 months at best to get the type of spending that you and I would have preferred into the economy.
    May 9, 2011. 09:10 PM | 1 Like Like |Link to Comment
  • Wall Street hopes John Boehner will offer reassurance in his NYC speech tonight that Congress will "negotiate and debate" but "when it comes down to brass tracks, they are going to raise that debt ceiling." Instead, the House Speaker appears set to demand trillions in cuts to get a debt ceiling hike, setting up a collision course with Pres. Obama and Democrats.  [View news story]
    How's that austerity thing working out for Europe? You do not impose sharp cuts in goverment spending at the same time that you are trying to get economic growth to take hold. This is ridiculous and is purely political,which is what is so disheartening because these politicians have, in my opinion, a fiduciary responsibilty to the citizen's of our country to do the right thing, not the politically convenient thing.
    May 9, 2011. 08:35 PM | 9 Likes Like |Link to Comment
  • No matter what the Fed says about a slow recovery, more than half of Americans say the U.S. economy is in a recession or depression, a new Gallup poll shows. The number who think we're in a depression: 29%. It's hard to see how the economy can truly recover "when so many people believe that it has not recovered at all," Doug McIntyre comments.  [View news story]
    Fr33f0rm, you said "I can't say what would've happened without Bernake's efforts" and that is exactly the point that I always make with having a discussion on this topic. I ask the person who complains about the actions taken to put themselves in the shoes of policies makers back in late 2008 and early 2009. I remind them that they are charged with implementing policies which will combat the crisis and get the economy stabilized as soon as possible. The actions that are chosen need ot have as much certainty in their effectiveness as possible. Certainty is where the distinction has to be made. Paulson, Bernanke and Geithner proposed actions which had a high degree of certainty of success. The alternatives, including allowing the financial system to collapse and subsequently rise from the ashes, were much more uncertain and thus were non-starters. We can argue about the costs, but at least the costs of TARP, the Stimulous Plan and the auto bailouts were known, whereas doing far less and allowing for massive failures carried with it an open-ended cost which could not be reasonably estimated.
    Apr 29, 2011. 08:21 AM | 2 Likes Like |Link to Comment
  • No matter what the Fed says about a slow recovery, more than half of Americans say the U.S. economy is in a recession or depression, a new Gallup poll shows. The number who think we're in a depression: 29%. It's hard to see how the economy can truly recover "when so many people believe that it has not recovered at all," Doug McIntyre comments.  [View news story]
    DavyJ, I think that you make a very good case for why people do not "believe" that the economy is recovering. However, I think that the public suffers from a very pronounced double standard. In the 1980's, which is defined by most as a very good economic time for the country, the unemployment rate was quite high for most of that decade. In fact, in 1979 under Carter the unemployment rate was 5.9% and it proceeded to increase to 10.4% by 1983 and then retreated slowly for the remainder of President Reagan's two terms. The unemployment rate finally got back under 6% in 1987.
    Apr 28, 2011. 10:06 PM | Likes Like |Link to Comment
  • No matter what the Fed says about a slow recovery, more than half of Americans say the U.S. economy is in a recession or depression, a new Gallup poll shows. The number who think we're in a depression: 29%. It's hard to see how the economy can truly recover "when so many people believe that it has not recovered at all," Doug McIntyre comments.  [View news story]
    Lakeaffect, thanks for your fact based pramatic comments. I know many people, some who are doing quite well financially, who "believe" that the economy is still in a recession and any signs to the contrary are artificially created by goverment spending and monetary policy. I think if we filtered these poll results by political affiliation we would see a significant deviation between political affiliation in terms of belief in the current economic recovery. The Republicans and alike were so entrenched in there opposition to both the stimulous, TARP and QE1&2 so it is very difficult for those people to admit that we are indeed in a sustained recovery.
    Apr 28, 2011. 02:57 PM | 11 Likes Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    Mr. Mahe, do you have any knowledge on whether or not it is even constitutional for our government to choose default? I believe that it might very well be in violation of the U.S. Constitution to default on Federal Debt.
    Apr 25, 2011. 05:35 PM | 1 Like Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    I seem to miss a very important point regarding the Euro becoming a Reserve Currency. That point is that each country which makes up the European Union issues its own bonds. Until such time as there is true political union as well as currency union, the Euro will not be able to compete with the the unified U.S. dollar liquidity which is crucial to a effective Reserve Currency.
    Apr 23, 2011. 07:14 PM | 1 Like Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    Thank you Mr. Mahe for you pragmatic and dispassionate explanation and defense of your assertion that the U.S. cannot technically default. I do agree with John W. Taylor above that even accepting your argument about the mechanics which can always prevent a default, politicians do seem to be able to choose to be able to shut down those mechanics, thus forcing a default. It would be interesting to see what tools that an independent Fed has at their disposal if politicians would choose to be so irresponsible. Another possibility is that there may be a Judicial solution as politicians are under sworn oath to uphold the Constitution and the Constitution requires that Federal Debt be serviced.

    I have to agree with Mr. Mahe that the mechanicisms provide for an infinite ability to service Federal Debt and it seems that it may very well be unconstitutional to choose default.
    Apr 22, 2011. 07:23 PM | 2 Likes Like |Link to Comment
  • Wake up S&P: The U.S. Can't Default on Its Debt [View article]
    Our military and military industrial complex is a competitive advantage for the U.S. that we cannot afford to lose. However, what I cannot understand is why when we spend 10's of billions of dollars liberating an oil rich country like Kuwait, Iraq or even Libya why we do not insist upon an energy excise tax which is paid to the United States for a predetermined period of time in order to compensate us for the financial and human cost expended in order to accomplish the liberation?
    Apr 22, 2011. 07:01 PM | 3 Likes Like |Link to Comment
  • Harris Corp: Growth at a Reasonable Price [View article]
    Tom,
    Great analysis! I have been an investor in this company for a while now. I agree with you that it is not getting the multiple that it deserves because it is viewed as a defense contractor. However, as you mentioned, they are branching out beyond the public sector market, but I do not discount those public sector revenues because HRS is just beginning to benefit from an enormous technological conversion from analog communications equipment to digital.
    Mar 25, 2011. 09:06 AM | 1 Like Like |Link to Comment
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