Bill40

Wall Street Breakfast: Must-Know News

Enjoyed the analogy but it's not quite right - Obama gets peace prize for no good reason. Geithner on the other hand is out-acting Jack Nicholson and truly does deserve an Oscar for not laughing out loud as he talks the strong dollar.


On Nov 12 09:20 AM Old Trader wrote:

> I'm continually amazed at the fact that Geitner can continue to talk
> of supporting a strong dollar with a straight face. Since the President
> has been awarded the Nobel Peace Prize, I humbly suggest that Geitner
> receive an Oscar.

9/29/08: The Day Sevens Weren't Lucky

I don't know if "guy looking left" or "guy looking right" wrote the above article. Interesting to see though what is implied: that not passing the bailout was bad, and that passing it was good, but surprising everyone didn't realize that since the market crashed.

How about, "it doesn't seem like the govt. bailing out the banks who were irresponsible/criminal was a good idea".

If we are going to print/borrow to inflate things to the same price, give the money to the people, not to companies. But individuals don't give millions to politicians.

Eliot Spitzer Claims the Fed Is a Ponzi Scheme

Thank you for the link. Interesting idea that Spitzer was taken out because of his stance. It seems like a little bit of turrets though when you went off of Bush in an article on the Fed.

In the video they talk about the Fed giving taxpayer money to the banks, but they didn't really use taxpayer money. It seems more like they printed money. It will hurt taxpayers similarly to a tax via a weaker US dollar and inflation, but it's not a traditional form of using taxpayer money.

Absurd Inverse and Leveraged ETF Product Whining (Updated)

I guess traders rule the day. It seems these ETFs would greatly increase volatility. Volatility makes holding stocks less attractive which would be detrimental to the valuation of the markets long-term since the increased volatility will push more and more people out of holding stocks.

Gold to $980 or Bust?

There's a chance for deflation and if so, gold will likely go down. However, a country can not abuse its system of money forever without consequence.

Huge debt + Super-huge Unfunded Liabilities + Huge Current Deficits = Necessity That the U.S. Govt. Prints Lots of Money

Printing Money = Money That's Less Valuable

Gold = Something That Can't Be Printed

The reality of us living within our means has somehow escaped us as a nation. Reality may bite, but it can't be avoided.

Bulls Attempt to Take It Up a Notch

I have looked and looked for stocks with good fundamentals (i.e. earnings/assets/debt levels/cash flow) and can find none. So I'm sitting on the sidelines. However, I think the government and central bank are destroying the US dollar while they save their banker buddies and spend like crazy. So I am still searching for what to do with my money.

Are GLD and SLV Legitimate Investment Vehicles?

401Ks, Roth IRAs, and Trad. IRAs are now unfortunately handcuffs on getting physical gold and silver with the 10% early withdrawal penalty. There do seem to be gold IRAs you can do, but physically holding the stuff does have value in today's world where the whole system seems off kilter. (CA deficit $41 billion but USA deficit likely $2,000 billion, making CA's problem seem like chump change.)

California's Default Is Certain

Will California be able to kick the can down the road once again?

Will debt-based spending and the resulting unsustainable status quo be able to be maintained much longer?

Or will CA Republicans actually be able to force structural changes that bring CA into financial reality that does not impoverish everyone not receiving government credit-card-financed largess?

Stay tuned, same bat time, same bat channel.

Less to the Offshoring Jobs Scare than Meets the Eye

303821 is right.

You can't have prosperity in this country if you don't have production and savings. These continual theories showing that we are benefiting in this way and that by off-shoring, while factories here sit idled and the people that worked there unemployed.

THIS IS ABOUT JOBS - WE GOT AWAY WITH SHIPPING THEM ALL OVERSEAS WHILE WE HAD CREDIT-BUBBLE HOUSING CONSTRUCTION BUT NOW WITH 6 MILLION MORE UNEMPLOYED IN 18 MONTHS WE NEED TO REALIZE YOU NEED TO ACTUALLY MAKE STUFF AND EMPLOY PEOPLE.

Then you need to do things which encourage production here like tariffs to offset the disparity in workers' wages between here and other countries. It's $15/hr (including benefits) to pay someone $9-10/hr here and $1/hr in China. We also need to quit taxing production here so that lots of people can be given "free lunches".

Why I'm Selling Gold

Dave Wrixon comments that the government should tax gold because of the environmental impact of mining.

I think the government should just become fiscally responsible again. That would allow everyone who is in gold, because there are ~$550,000 in government liabilities per household and no way that can be paid off except with a large amount of money printing, to go back to holding dollars.

However, with our current "take your money if you're productive and bribe voters with it" government, it forces us into gold. Consider the environmental damage a side-effect of corrupt government.


I think they should tax the production of gold.
The government should maybe tax or regulate the production of gold. T

No Rest for the Economy's Wicked Parties

Democracy is suboptimal. Democracy only works when 50%+ of VOTERS (people that show up - usually public-school teachers and other government workers do so disproportionately) vote for the values that make up a prosperous society (self-reliance, do unto others..., freedom, honesty) AND have a CANDIDATE that represents those things.

Is there a better form though? We need to make it so that people receiving money from the government (and their spouses) do not get a vote. Public (aka government) school teachers and administrators, those on social security and medicare, those getting government pensions, and those in the military.

Things would change for the better quickly.

Not Buying This Rally

raytayzmd, Thomas makes perfect sense yet was hugely wrong in March. I feel your pain. (As I'm guessing does Thomas.)

Thomas, thank you for the info. Those uncooked job loss #s are staggering and the objective info on the banks is appreciated.

My contributing thought: The govt. kick started a rally by making the US$ somewhat a joke. Short sellers covering I'm sure contributed to the run-up, as well as the vast momentum of the investment industry who have trained Americans that stocks are it, no matter the reality.

Last thought, wouldn't it be great if we had a government that was responsible and respected dollars so that you could hold comfortably hold cash? Shouldn't a beneficial govt. try to preserve dollars and not push people into investments in garbage companies? But our govt. is incompetent and the political-financial complex says people must suffer.

Wednesday Outlook: Commodities, Global Markets

Hopefully I and many, many others will achieve your clarity in view someday. That part about politicians having to wear clothes like race car drivers is great. The problem is their clothing won't give enough square footage. Maybe a digital billboard on their chests that changes from "Teachers' Unions" to "Too-Big-To-Fail Banks" to "Investment Banks" to "Freddie Mac".

U.S. Markets: Keep on Rockin' in the Free World

Our problem is:
D - Defense Spending
E - Education, the Government Near-Monopoly Over
M - Medicare
S - Social Security

It's all about leadership. I pray that our leaders become leaders and take on these big issues.

Warren's (Ridiculous) Prescription for Banks: Wipe Out Shareholders, Fire CEOs

Not all TARP CEOs should be fired.
But CEOs of insolvent TARP companies should be.

We as a country need to throw up from all the debt we've incurred. If we don't throw up we'll just walk around with nausea for a long, long time.

Somewhat gross, but the best analogy there is. Throwing up means letting shareholders/bondholders of failed companies get whacked and not debasing the dollar through endless propping.