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  • The Fed's step toward quantitative easing is a declaration of war on America's savers - bond owners, CD holders and passbook savers who "have stored wealth believing that the U.S. government has their back," Drew Mason writes. "The government has decided it's politically acceptable to torpedo the life savings of many Americans."  [View news story]
    The current junta in power in DC isn't interested in creating or encouraging responsible citizens who will take at least some responsibility for their own lives. It wants to make more and more people more and more dependent on the federal gov't for their subsistence...dependents who can be told what to do and will have no alternative but to do it because of their dependency.

    That sounds like hyperbole, yes, but that doesn't preclude it being true.
    Aug 16, 2010. 06:39 PM | 26 Likes Like |Link to Comment
  • Outlook 2013: Americans Are Going Broke [View article]
    As Glenn Reynolds (the Instapundit) is fond of tagging such things:

    "They’ll turn us all into beggars ’cause they’re easier to please."

    Never, ever think that programs and policies which make more people dependent (and addicted to) government programs and handouts do that by accident. That's a feature, not a bug, to those running our current regime on both sides of the political aisle (with too few exceptions to make a bit of difference).
    Dec 31, 2012. 06:23 AM | 19 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Debt talks at standstill. President Obama and Congressional leaders will meet again today over raising the $14.3T debt ceiling after little progress was made in an unexpectedly brief parley yesterday. The weekend also saw a new element of disagreement: Obama wants a deal to cut the deficit by $4T, while the GOP believes $2T is about as much as can be achieved."

    Excuse me, Yigal, but that characterization is straight up DNC talking point BS. The snag is Obama and the Dems wanting the $4T reduction to be $2T in cuts (mostly to defense, naturally) along with a $2T tax increase...yes, a $2T tax increase in an already horrid economy. Oh, and by the way - surprise, surprise - the tax increases come FIRST; the cuts are to come later, someday, maybe. That's the damn snag. The snag is NOT the Republicans being unwilling to cut more as this little blurb insinuates.
    Jul 11, 2011. 07:28 AM | 19 Likes Like |Link to Comment
  • Avoid Paying Taxes The Warren Buffett Way [View article]
    Avoid taxes the Warren Buffett way? Well, if I had enough money to buy a large flock of Congress Critters and get myself some access and influence with the White House, I'd be happy to try the "Buffett Method" but, unfortunately, I don't have that kind of cash handy.
    Jan 8, 2013. 05:41 AM | 18 Likes Like |Link to Comment
  • California faces a deficit of $16B, Governor Jerry Brown said yesterday (video), not the $9B he'd estimated in January. The ballooning gap is due to tepid tax revenues and slow progress in slashing budgets, which Brown blamed on the federal government and the courts. One bit of hope is Facebook's IPO, which could bring in $2B. (see also)  [View news story]
    "The ballooning gap is due to the state of California still spending money at a ridiculous rate and to tepid tax revenues caused by the state's extremely hostile business environment driving many of the state's former employers to relocate out of California. Despite all this, the state has still managed to continue paying enormous salaries and retirement benefits to members of the state's public employee unions and to waste billions more on a wide array of other boondoggles. Brown declined comment on public employee union pay and benefits, citing his need to be re-elected."

    There. Fixed it for you.
    May 13, 2012. 06:35 AM | 18 Likes Like |Link to Comment
  • Exxon Mobil Returning Cash to Shareholders [View article]
    "Exxon Mobil (XOM), with a dividend yield lower than most of its competitors, is sometimes considered stingy in comparison."

    Perhaps, because they are stingy.

    I couldn't care less about share repurchases. All those do is signal to me that a) they have no good ideas on what else they might do with that money and b) they would rather do almost anything other than return profits to the owners of the company.

    If they want my interest - and investment dollars - then they need to spend that money on raising the dividend to a level competitive with their peers. Until they decide to do that, no thanks.
    Jun 24, 2011. 07:36 AM | 17 Likes Like |Link to Comment
  • Good News: Expiration of Bush Tax Cuts Won't Kill Recovery [View article]
    Oh good grief.

    The amount of taxes collected increasing or decreasing does NOT equal tax rates being raised or lowered, so you're not even testing what you claim to be testing here. Everything that I've read on the subject indicates that lower tax *rates* lead to increased tax revenues which supports exactly the opposite of what you're claiming.

    Btw, all the snarking about Intel's antitrust violations doesn't do anything to prove your point either.

    And finally...what recovery? I've seen very little to indicate such a thing exists except for White House press releases saying it does.
    Sep 6, 2010. 08:09 AM | 17 Likes Like |Link to Comment
  • Speaking on the issue of increased financial regulation, Goldman's Jim O'Neill asks rhetorically: “Is it really that entirely desirable to have financial stability at the expense of everything else? I sort of think you want your investment bank to be a little unstable.” - pure Goldman gold.  [View news story]
    That's the thing. Take risks? Sure. Do it on your own damn dime, not the taxpayers'.
    May 25, 2012. 08:28 PM | 16 Likes Like |Link to Comment
  • Social Security Changes: A Recipe For A Demographic Disaster [View article]
    >>However, the basic objection remains. Why is a Democratic president trying to cut Social Security in response to a crisis created by a combination of Wall Street greed and Washington corruption and incompetence?<<

    Why? Ever hear of decades of deficit spending or the national debt? Ring a bell at all?

    >> By 2033, there will be almost twice as many older Americans as today -- from 43.4 million today to 75.7 million.
    If the Obama administration cuts social security benefits over time, while the number of elderly people is growing exponentially every year, isn't that a recipe for disaster?<<

    It's a recipe for disaster if we *don't* cut entitlement programs that the nation can no longer afford. As you say elsewhere, there will more and more old people getting entitlement checks of one sort or another, but the other side of that coin is that there will be fewer and fewer working age people paying into the system to fund those entitlement programs. That's your looming crisis. But not to worry. I'm sure the President and Congress Critters will manage to *not* cut spending yet again since both parties are more worried about being re-elected than they are about the financial health of the nation.
    Apr 16, 2013. 02:38 PM | 15 Likes Like |Link to Comment
  • President Obama will lay out yet another plan for trying to spark some life back into the economy when he gives his State of the Union address on Tuesday. The program includes investments in infrastructure, manufacturing, clean energy and education. But as with countless proposals in the past, any new spending plans are likely to hit strong opposition from Republicans, who would probably prefer to hear about cuts and deficit reduction. [View news story]
    It's his first, last and only plan...spending money stolen from private citizens. It's the only plan that Democrats (and most Republicans, for that matter) have. "If we just give more taxpayer dollars to my political cronies, the economy will start booming!" Yeah, right.
    Feb 10, 2013. 06:24 AM | 14 Likes Like |Link to Comment
  • Former Clinton economic adviser Laura D’Andrea Tyson describes how the "vicious circle" of income inequality leads to educational inequality, which then perpetuates the wealth gaps in the U.S. Tyson also notes how poverty is much higher in single-parent families than in those with married parents. But while she wants to increase taxes for the rich and pour money into education, she stops short of advocating policies to strengthen marriage. [View news story]
    "But while she wants to increase taxes for anyone with enough money to be taxed and pour money into teachers unions, she stops short of advocating policies to strengthen marriage."

    There. Fixed it for you.
    Sep 23, 2012. 09:13 AM | 14 Likes Like |Link to Comment
  • Rep. Barney Frank - the Frank in "Dodd-Frank" - held a Wall Street fundraiser yesterday, less than a year after authoring a sweeping crackdown on the financial industry. Some bankers saw it as a striking display of chutzpah, even by Wall Street standards, but most were not about to miss the chance to hobnob with - and donate to - one of Wall Street’s top cops.  [View news story]
    This tells you all you need to know about the nonsense Congress ended up passing. Hint: it was neither "sweeping" nor a "crackdown" of any sort. It generated - and continues to generate - a big wad of campaign contributions to Congress Critters, though. So, as far as people like Barney are concerned, it was a huge success.
    Jun 8, 2011. 10:17 AM | 14 Likes Like |Link to Comment
  • The government's finally sending people to jail for mortgage fraud, just not who you'd expect. Charlie Engle's behind bars not for selling bad mortgages, but for borrowing - allegedly lying on a pair of liar loans. It took months of probing and a flirtatious undercover agent to put away a single borrower, Joe Nocera writes in a good read, while Countrywide's Angelo Mozilo is still at large.  [View news story]
    Mozilo owns (or owned) lots of big name politicians.
    Engle did not.
    Mar 26, 2011. 08:44 AM | 14 Likes Like |Link to Comment
  • Earthquake and tsunami in Japan, uprisings across the Middle East - and by last Monday the S&P 500 was back up 3% YTD. You're probably better off ignoring headlines, Roben Farzad writes: The market is resilient and the global economy is strong.  [View news story]
    And if you work at it really, really hard and become an expert at ignoring reality then one day, maybe, you could become a member of the Fed, perhaps even chair it.
    Mar 26, 2011. 08:23 AM | 14 Likes Like |Link to Comment
  • In the two decades through December, the average return of all investors in U.S. stock mutual funds was an annualized 4.25% vs 8.2% for the S&P 500. That translates into a difference of $25,467 for an investment of $10,000. "The dismal truth is that over the long run, the average person is a woeful investor," writes the NYT's Jeff Sommer. [View news story]
    The "average person" would greatly improve their chances of getting good returns if they turned off CNBC, stopped reading business stories in the NYT, and based their investment decisions on their own research and common sense. Looks to me like it's the "average mutual fund manager" who is the "woeful investor".
    Mar 10, 2013. 08:37 AM | 13 Likes Like |Link to Comment