overtaxed42long

Once Again, Obama's Team Punts on Derivative Regulation

Same ole plan of no action. Best to allow the games players make the rules? Uh-uh. But if they (the SEC and CFTC) pass over their authority to the ones needing to be checked, you get a rigged game with the winner being the same ones who won all our tax dollars for free or at a return significantly less than originally agreed to. What incentive would any firm have to play by the rules? Would the rules even matter if they get to write them? This administration has been putting its foot of authority down in the wrong places and not putting it down when it should. Obama thinks the Nicaraguan people should allow their elections to be rigged so as to allow themselves to be subjects of a dictator and yet allows the Iranian elections which transpired in several innocent deaths in post elections protests to go without even words of reprimand. Plus gives unwarranted comment on police matters he knows nothing about. What the heck is wrong with this guy? Is he actually that stupid?
Or that evil and conniving? Does he really not give a rats butt about the people of our nation? It sure seems that way from his actions. You can't let the fox into the henhouse and expect the fox to behave properly. And that is what this non action on derivatives is the equivalent of.

SEC's Recent Tough Act Can't Hide Fact It's Still Lame

you're correct. Plus we need to get the HR1207 "audit the fed" bill passed. This will do a world of good for the citizens of this country. Work on the Senate, they are more tied into the bankers at the Fed's pocket than the House which is steadily gaining more and more of a strong majority to get this bill passed. Thanks Ron Paul.

Silver and Oil: Shiny and Rare

What most people don't know is that the banks have letters from the government allowing them to speculate as much as they want in commodities in order to protect themselves against client speculation. They do this not to hedge though. they do it to create bubbles to pop. Then they are there to collect the fallout. The next bubble to be created that will be the biggest ever wil be the carbon credits swap market. That thing will get so big and burst into oblivion anyone with any wealth not connected to Goldman Sachs or any other huge player in the banking industry. When I say huge I mean huge huge. They put Lehmans out, AIG, Bear Sterns, and Merrill plus a hundred other smaller ones. Just look at who has been running the country for the last 35 years. They are a list of top officials from Goldman Sachs. Cap and trade will ruin this country and so will forced health insurance on people. I am expecting to go broke and will need your assistance before long. Too bad for me though, so will you.
I think the article was a good one for people who, like me, think the US is headed down the wrong path to fix its economic woes. Although I don't think owning precious metals is worth it due to the tax consequences when cashing out of them. the only way they are profitable is if you earn at least a 35% return on the purchase price. Since the government views metals as collectibles, they tax them that way. Not as ordinary income.

On Jul 01 07:52 AM nobby73 wrote:

> CFTC looking at steps to crackdown on "speculators" in the commodity
> markets. If a speculator is someone who buys something believing
> the price will rise, but doesn't actually intend to consume it, surely
> this would apply to those who want to use gold and silver as a store
> of wealth.
>
> Are they trying to deter people from buying gold and silver because
> they have run out of the physical stuff to back the paper stuff?
>
>
> www.bloomberg.com/apps...;sid=aGgrOsW.SAZA

Health Care: Who Needs It?

Sounds like you should either find insurance that has lower costs and provides at least some coverage without so many loopholes. What's the saying? Buyer beware. This goes for insurance companies I think just as much as for any other business. Maybe even more so since the insurance xompanies are so tightly wound up with the government. Insurance companies most likely
pay out more to government combined than they do in claims combined is my opinion. They have found a nice little niche in which to screw taxpayers out of more and more every year and now with their paychecks falling they are scrambling to find new inventive ways to provide those lost revenues AND maintain a cost of living invrease. Hey they gotta have their luxury items ya know. Running a business that sells a notion of "what if" and never pays on the income and fights against paying on it tooth and nail will always come out ahead. It is a lot cheaper to force people to pay and then fight against claims when and IF they transpire. Since you don't even provide coverage for your "special needs" son, why do you even have health insurance anyway? You should actually join one of those prescription drug programs that supposedly lower prescription costs. Good luck with that too. Those things cost an asverage of $20 per month. If you have less in prescription costs than that then your losing on that deal too. Most larger drug companies do offer programs that make higher costs of many of their drugs affordable though.
Besides all those points, just remember this, your son and your lives are yours. They are yours to provide for, they are your choices that you make on your own. They are not mine, I do not want to provide for you or anyone else. I do not want government forcing me to do anything yet here I am being forced to pay for millions of illegals health care and the food they eat and the shelter they live in. Yet I have income less than they do in many examples I am sure. I live beneath my means and do not ask for anything. I don't think anyone is obliged to give me health care or provide me anything at all. If I make a choice to have children then I will provide for them, I will not go ask anyone else to. A family is the responsibility of the families head. No one elses. Survival of the fittests it seems has fallen prey to socialism. Even so, the fittests are still going to survive a lot easier than the gimme this and gimme that cause I deserve it losers of this world.

Jun 21 08:38 AM YoYoMama wrote:

> Mr. Dalt -
>
> How old are you? Old enough to receive Medicare? If so, do you feel
> so strongly about your position that you will hand back your Medicare
> card to the government?
>
> Please also explain how it is that 1/2 of the bankruptcies filed
> today are because of medical expenses, and of those filers, 75% HAVE
> INSURANCE.
>
> Those who do not feel any changes are warranted in our free market
> system are not on the ugly side of the system. My family is. My website
> talks about my story.
>
> My husband and I run a small business from our home so we can be
> there for my special needs son. We have to hide his condition from
> our insurance company in order for our family to be covered by insurance
> at all. We then have to pay ALL his medical expenses and prescriptions
> outside of insurance, to the tune of almost $4,000 a year. Our premiums
> cost $7,000 a year. For this outlay of cash, we still have a $15,000
> deductible for our family, and our policy has so many loopholes in
> it that if anything DOES happen, we are on the hook for most of the
> expenses.
>
> For those not on Medicare, Medicaid or a cushy large group plan,
> those are your options... no insurance, or personal health insurance,
> which pretty much equals no insurance.
>
> I am STILL waiting for a health reform detractor to explain to me
> HOW the current system really is working for me, or how they would
> fix the system so that it does.

The Coming Economic Collapse, Part 1

Said like a moronic democrat only using emotion to think. Eight years? You might want to re-evaluate the makeup of Congress for those eight years. First six were controlled by Republicans but were actually not because at the time the liars known also as party flippers were attaching an R to their name but were actually a lying D working and voting D while deceiving the people who put them into office. That is no surprise though for any politician. There was one diehard D that the others D's screwed because he actually used his head for thought and stood by his beliefs in endorsing and campaigning with McCain instead of Obama. He is now an independent and won his re-election as such but still votes D. Can you figure out who they are? Then the last two years of Bush's term we had a D controlled House and Senate. Don't forget also that Bush pretty much gave in to what ever the D's wanted by not vetoing the radical laws they would put in front of him. This economic downturn is entirely a D caused disaster. They forced the lending of money to borrowers who could not repay that caused the housing bubble and Bush saw the problem his first term and tried to get that fixed but all those D's taking bribe money in the form of campaign contributions or advisory fees would not allow any common sense to be instituted at Fannie and Freddie. There is a list which includes Maxine Waters, Barney Frank, Chris Dodd, Nancy Pelosi, Hillary Clinton and several others, all D's, who received anywhere from $20,000 up to $180,000 cash bribes to keep the money train in the mortgage industry bubbling till the bubble burst. If you actually use your head for its intended purpose which is thinking, you would be able to understand this fact. Also that you think Bush spent gazillions of dollars is quit funny when compared to Obama's beyond compare spending. Obama has taken spending to a place we will never be able to pay off. He has spent more than every single prior administration since the first administration all put together. Corporations DO NOT pay taxes. People do, if they didn't pass them through there would be no businesses. So all those corporate taxes you want to punish big business with are not going to punish anyone but you and me and the rest of the people who pay taxes. How do you ever expect a non entity to pay for anything? At least the spending Bush did ( which is way way less than Obama's first 25 days had the effect of keeping any more 911 like attacks or any attacks from occuring on US soil. Look at N Korea now that Obama is in office. They are shooting missles over S Korea and testing nuclear bomb blasts. To what end so you think explosive tests are for or are needed? Obama has done nothing to defend US citizens or its interests abroad. He has allowed its proliferation. It is only a matter of time till we have a huge disaster involving one of these rogue nations who have a psychopath as a leader. I know, their actions will be Bush's fault too. Not your messiah Obama's inaction to curtail violence against the US and her citizens. You are a completely mislead D only using your feelings and the media hatred as a guide for your own thoughts and freedom of your self. Sheep should shutup and not be allowed to vote or have a say in important matters for they do not use intelligence but only rely on what they are told to do or is right. When you do that you are a sheep or pawn or peasant or peon.


On Jun 09 06:00 PM kalyson wrote:

> What a dummy. Oh, yeah, if it weren't for the democrats we'd have
> paradise. Sure. After 8 years of incompetence and stupidity under
> the complete control of the repugs (house, senate, executive) that
> accelerated the destruction of our economy, you have some nerve talking
> about democrats.
>
> What the silly repugs don't understand is that you can't spend gazillions
> on a war, give tax rebates, give yet more money to corporate welfare,
> completely deregulate the financial industry (fox watching the chicken
> coop, for sure), keep interest rates ridiculously low for years and
> years during a MASSIVE bubble, and expect the economy to survive.
>
> The muslims knew something that you don't. They knew they couldn't
> bring us down militarily, but they could economically. Chasing after
> weapons of mass destruction, my a$$!!!
> We don't have the money to pay for schools and roads, but we got
> money to fight windmills over in Iraq. For WHAT!!!!????
> The muslim world will win because we are stupid and did just what
> they were hoping we would do. Now when there is a real threat, like
> say from Pakistan or North Korea, we can't AFFORD to do anything.
> When China tells us to sit down and SHUT UP, we do -- why? Because
> they OWN US. (Check out what happened when we tried to do something
> about N Korea at the UN a couple of years ago and China shut us up)
> Get it? Real simple. We don't get to be the big bully anymore. We
> are DONE. And the sad thing is, we did it to ourselves.

The Coming Economic Collapse, Part 1

On Jun 05 11:51 AM jake1949 wrote:

> would correct spelling of Mr. Summers' company name logo increase
> the credibility of his writings and advice?

You should learn of what you speak before opening your mouth. First, it is Mr. Summers company and he can name it and spell it any way he sees fit.
Second the spelling is correct. Omni means all encompassing or everything or just all of something it is tied to. The latter half of which omni is describing is sans. A word in itself usually used as a descriptive to an action. Mr Summers is using two descriptors with no actual thing being described but in so doing has come up with a a self describing descriptive. Rather sophisticated and does what he had intended it do. Make one think of the name and thus remember it. When you do reach the answer to his company name, it is saying his company is looking at all variables available from the past in all conceivable ways that are available to be had. I don't know for sure what you think he was trying to spell, but will assume it to be sense and not sans. Which to an investor looking for an advisor with some sense would probably steer clear of because the meaning one gets from omnisense is a rather lame or way too geared to self promotion. Not what you want your clients to think or feel about you and your advisory companys role in your investment accounts.

What a GM Bankruptcy Would Mean for Sirius XM Shareholders

Sounds like you should buy puts to cover your long position in SIRI. And buy more puts to profit from the inevitable. Just buy them at least three quarters out or further. Or do options even exist for SIRI anymore? Probably not if it is still around thirty cents a share. What a drag this ride has been for investors. Just when the approval finally goes through on the merger between SIRI and XM, their entire lifeblood in the OEM market dissolves practically. First the FTC just about destroyed both companies with its meddling and at the same time took so unbelievably long to do it. Now the biggest employers and their downlines of suppliers and aftermarket chains going under.... I'll tell ya, the new policy Obama has put into play that is taxing everyone more every day and giving free reign on the spending by the yahoo's (sorry Yahoo!, no disrespect intended) in all levels of government, is destroying many more jobs than will ever be created. How anyone can possibly buy into their ill conceived notion that spending more and more to reduce debt is beyond me. Please do tell me of ANY person or business you know of that has been able to spend more and take on more debt load and at the same time reduced their debt. You can not do it. It does not compute. How many jobs have been created thus far? Is it still just the 72,000 census workers? Man that is a lot. I guess we can count the legal firms having to deal with all the bankruptcies. Or they already had jobs so they don't count. Hmmmmm. Anyone see the biggest implosion in history around the corner? Pretending it isn't there lurking won't make it go away. Hopefully the gov'ts of the world can pull off the biggest manipulation ever and keep the rich rich and the rest of us able to still get by. I think I would close all positions in SIRI and take the loss if you have one. They won't survive. There just isn't enough suscriber base to keep it above the water line.

Altria: Value Play or Value Trap?

Smoke 'em if you got 'em! I need you smokers to keep puffing to keep my taxes lower than if you quit. As far as consumeronstrike's opinion about people giving up their fix to pay the bills. I don't think so, most smokers will opt to buy a $10 pack of smokes (or the generic at $5/6) before not having the desire to smoke or the forethought of saving that $5 or $10 until the rent is due. Ciggarettes are a neccessity right along with electricity and water and with the ability to buy them anywhere for much less than any bill allows them the staying power even when that person knows they need to save that $5 or $10 to pay the bills. I think most smokers would roll their own Buglers or Tops if it got that bad. I hope it doesn't get that bad. Really we need to oust all these incumbents and get people in office who understand the reality that spending and raising taxes does not get anyone out of debt. EVER. It doesn't work. Look at all the countries who have tried and ended up with failed currencies. All of them. There is not one that came out on top by manipulating the money supply. Anyway, smoke 'em if you got 'em.

The Two Gaping Holes in the Inflationist Argument

Good article. I thought a couple sentences in my eyes were going to glaze over and I would hit the desk with my head. But that quickly gave way to an approach that I thought was very well laid out without leaving a bunch of unanswered questions one might have. The one I have is about M. When all the values of most equities fell by say 50%, does that lost 50% ever get calculated in as part of the lost money and therefore would be effectively cancelling out even more inflation the Fed is busy putting in circulation? Or was that value basically a "fair price estimate" and therefore not included when or if markets increase or decrease.

Friday Outlook: Commodities, Global Markets

It really damaged a lot of folks when this admin. allowed the complete fraud it has unleashed on the market. Changing M2M to mark to whatever you want, allowing all the cash we pay in taxes go to anything financial(banks and insurance co's.), and at the same time forcing the big producers of actual items that are tangible to go into bankruptcy. The tangibles? Auto manufacturers and the downline of suppliers. Dominoes into the repairs and aftermarkets supply chain. All of that of course slows the trucking and rail industry. And the whole show together will slow oil demand and production much more than it is now.
All that bad paper being presented as worth something will not be picked up by anyone except of course Obama and co. Aptly named a co. since we are headed more toward facism than socialism. Of course a few poor sops will buy into it only to be the new bag holders. I just don't see that many who will be fooled into thinking a dressed up turd is more than a turd. Add to that a massive injection of new capital and we can't avoid inflation. Will it stop at that or begin to stagflate is the question I wonder about now.
Bear market rally, resistance levels, a bubble...they all are one in the same this time. This past six months have seen manipulation in the markets at unprecedented levels. All geared at transferring the capital of individuals into the hands of the bankers and the ones who regulate. And it is so openly brazen this time. Usually we have to wait months for the shenanigans to come to light. Now we are told that companies unable to survive are too big to let fail. It is my opinion these companies are too big to not let fail. I think I liked it better when the fraud was hidden and tried to be kept under wraps. At least that way we all could judge better which way the markets would run or if not, have time to cut losses to minimum.
May we come out on top.

G20 Could Surprise Currency, Gold and Bond Markets

The only way to fix the illegal use of the banking communities manipulations of currency is to use currency based on something that has its own value. Gold, silver, copper, platinum are the only ones that fit the bill. Each has different value levels and each has been held through history as money. The way these banks use interest rates to hold us hostage is shameful to everyone not a banker. We let them dictate to us how much our money is worth and how much interest we pay to borrow it and then how much they will pay, if any, for us letting them borrow it. With real currency, no one would have to worry about their dollars being stolen through interest rate hikes and the unstoppable printing press. Support the effort to make the Fed Reserve accountable by supporting the law they be audited. Bet you didn't know they are never audited did you? They are accountable to no one. Particularly unaccountable to the US or its citizens. This audit would be a start in the right direction of ending the Fed. So if your tired of worrying about wether or not the money you've worked your whole life for is worth anything tommorrow, call your congressional and senatorial elected thieves. Tell them to make the Fed accountable. It is your money and your future at stake. End the Fed. Use something worth something for money just like it mandates in the Constitution. Only Congress has the authority to coin money and is required to use only gold and silver. Paper will always only be one thing. Paper.

Looming Currency Devaluations

Oh c'mon people, where's the ol' Obama spirit? Spend spend spend some more, Congress will back him all the way cause when the whole house caves in as it is in the process of doing, Frank and Dodd and Pelosi will all point at him and say "it's his fault, he made us all vote this overspending policy into law, we had no idea this would happen." If that doesn't ease the tension then they'll start looking outside the US at the aforementioned countries. You know, the ones that have so far been there to prop up this scam economics policy the US has ran us all into the ground with.
I can't believe these bankers now want to go even further than manipulating our own currency with interest rates and supply. Since that failed as always does with fiat currency, now they want to revalue the currencies of other countries? The gall of them to even suggest that another country should chop off their arm to save the snake that bites them. Reality will set in when China just dumps every last dollar onto the world at once, ridding themselves of the problem it has become, trying to save some of the capital it earned before the dollar turns to nothing more than toilet paper. Luckily for the US that won't happen. I am sure they'll dump some, but they probably won't have anything more to do with treasury bills. Who would when your return is negative?

The Real Cost of Economic Stimulus

Social Security-what a rip off and great scam to steal from the producers. Nowadays they tell the producers,"you better invest and save for your retirement." So why the hell do we pay this rip off tax that is spent 2 years before it is even collected because the politicians can't stop their country ruining spending? Do not make the mistake of blaming this whole financial mess on the banks or the borrowers. Government decided it needed to stick its nose into the financial sector and play around with it as if they knew what to do. Look what it has accomplished. The downfall of the greatest country on earth due to lack of oversight they insisted on and regulation they don't even follow or enforce. It is impossible for the debt from the houses defaulted on to cause this much mess without some help from above. Enter big government. We know what to do, we'll just fine and tax and charge fees and assesments and that will make it all better......(for us, hahahaha). Ooops...that didn't work, we know what to do now, we'll regulate and tax more and charge hidden surplus fees and more unique taxes and call those capital gains taxes and lets see what else we can shove down the country's throat to choke it to death. Yeah for DC, thank you, you worthless thieves of inept doings.

Cramer's Lightning Round - Smack, Smack, Smack Black and Decker (1/30/09)

Well well well, imagine that. Cramer says buy TNH and sell down or short MOS, AGU, and POT. And today TNH is down more than $5. And his short picks are up more than $2.50 each. Man he's good. Glad I don't listen to the fishhead.

National Presto Industries: Initiating with a Buy

Not a very in depth evaluation, but more than I would ever write up about. So I'll just add to yours. NPK has a dividend forward ratio of 8% because when it comes time to pay out the dividend, they pay it all at once. Not only that, they usually include a bonus amount that exceeds the regular dividend of $1.00 by four times. Pretty good bonus. This way NPK can maintain its divies and raise them a little and not have to worry about cutting them and garnering the wrath of anal ists. another thing I noticed was the mention that all their manufacturing is done in the Orient. This is not true of the defense portion of the company. It's all made here in the US. About those divies, they may not have a bonus this go around because of slowing trends in the markets and retails in general.