Rich in Quebec

Rich in Quebec
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  • Wall Street Breakfast: Japan Marches Higher As Nikkei Breaches 19,000  [View article]
    Al - My comment on Boeing had to do with the recent rise in the US$ and the concurrent drop in the Euro, that might have a negative influence on Boeing's competitivity and profitability. Buckoux then made his "rented mule" allusion. That was literally a half-ass comment. It has gone downhill from there.
    Mar 14, 2015. 02:19 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Japan Marches Higher As Nikkei Breaches 19,000  [View article]
    BlueOkie - Since there was no attempt by Tony or Buckoux to address the substance of my comment. I addressed a mindset that allowed avoidance of what I think was a logical comment - the increased value of the US$ making the sale of Boeing products more difficult. They both preferred to attack France as if French attitudes doomed Airbus now with a declining Euro when Airbus has been a viable competitor for decades. I'm still waiting for a reasoned response, heck even an irrational one, to what I first suggested. Dare I suggest that you too have preferred to avoid what I first pointed out.
    Mar 13, 2015. 10:01 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Japan Marches Higher As Nikkei Breaches 19,000  [View article]
    Buckoux and Tony - Your responses to my comments display how prejudice - pre-judgments - can sometimes inspire comments that fly in the face of reality. Airbus was and is a successful airplane manufacturer, sharing in a duopoly with Boeing. But, Airbus functions in a way you apparently do not like. Yes, Tony, the French have a shorter workweek than Americans, and definitely longer vacations. Buckoux assumes that because of my French Canadian ancestry, I have automatically taken a pro-French and thus pro-Airbus stance. Buckoux, France lost Canada to Britain in 1763. Voltaire quipped that it was only "quelques arpents de neige", a few acres of snow. French Canadians had not been pining away to be taken from British control. After the French joined the American rebels against Britain after the Battle of Saratoga in 1777, there was no rush to rebel against the British, whereas Americans lauded the French for their contribution to American independence for decades after the Revolution.

    What I have said is that the recent rise in the US$ or the corresponding drop in the Euro, is a factor that benefits a company whose costs are counted in a currency that is depreciating.

    Come to think of it, you have done worse than practice prejudice, you have both practiced "postjudice", assuming bad results when Airbus, social peccadillos et all, has already been a strong competitor of Boeing even before this ongoing favorable factor, the dropping Euro, has had a chance to make things competitively worse for Boeing.
    Mar 13, 2015. 07:25 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Japan Marches Higher As Nikkei Breaches 19,000  [View article]
    pmoncho - My knowledge of Boeing is superficial at best. But the little I know has me looking elsewhere. Their competitor is Airbus. Boeing's costs, I assume, are largely in US$; Airbus's costs are largely in Euros. The rise in the US$/drop in the Euro skews the competitive advantage towards Airbus. In general, I would look for companies previously successfully exporting TO the U.S. in a sector that has not been negatively affected by the drop in oil.
    Mar 13, 2015. 02:48 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Japan Marches Higher As Nikkei Breaches 19,000  [View article]
    We are living in the aftermath of the great failed Marxist experiment - Bolshevik style, where it was believed that private capital would so exploit the masses, that public capital was the only way to go. The economic model failed, and even if it had not, the political "solution" to prevent the masses from exposure to "incorrect" ideas was not what anyone among us would prefer to live under.

    So now we have lots of people who take that lesson, and see in only black and white and simplisticly (see comments above) believe that any government action is bound to be badly handled, and would wish to leave all capital investments to the private sector with no government overview and certainly no "interference".

    They apparently don't know their history or don't care to be reminded of it. Capitalism is not without flaws. Oversight and regulation are a necessity. A little bit of socialism has often not been bad either. But heck, those different shades of gray can't be perceived by those who live in a black and white universe, be they Marxist-Leninists or absolutist capitalists.
    Mar 13, 2015. 10:32 AM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Japan Marches Higher As Nikkei Breaches 19,000  [View article]
    Blueline - The U.S. has had over a century's experience at breaking up trusts and regulating utilities. I would give the FCC the benefit of the doubt on regulating broadband Internet in the public interest.
    Mar 13, 2015. 08:22 AM | 9 Likes Like |Link to Comment
  • Wall Street Breakfast: Global Equities Head Lower; ECB Kicks Off QE  [View article]
    Charlie - I tried googling and came up with references rather than a direct quotation. Considering the source, the best was probably in a 2013 Forbes article attacking some Keynesians for supposedly arguing for deficits at all times. The author acknowledged that Keynes argued for "savings" in good times. So, even though Keynes was addressing the problems of a recession, his theory was for all economic conditions. Elsewhere, another author argued that both Smith and Keynes have been bastardized, referenced without having been read. Nevertheless, like a lot of other information read over the years, I'll accept those references unless proven false.
    Mar 12, 2015. 04:50 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Signs For More Chinese Stimulus?  [View article]
    Interesting Times - I like both of Blue Okie's questions, as an example of how things come to be. Both stars and stripes were supposed to be associated with the number of states, but it became apparent that the flag would become nonsensical once both stars and stripes reached 15 in number. Only then was it decided that the stripes would represent the original 13 colonies.

    I don't know the details of the "backstory" of the French gift of the Statue of Liberty. But, the Enlightenment ideas, many of them French, had come to fruition with the American Revolution . The French had come later with their Revolution and seen from the point of view of 19th century French, had vacillated between Republican and Royalist ideals.

    If nothing else, both these snippets of history indicate that "best laid plans" change over time, and that ideas do not develop in a vacuum.
    Mar 12, 2015. 02:14 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Global Equities Head Lower; ECB Kicks Off QE  [View article]
    BlueOkie - I've long found fault with the melting pot analogy. As a kid of French Canadian parentage growing up in an industrial town, Holyoke, Mass., formed of different waves of immigration, I lived with the stereotypes of the other, by others of me and by me of others. The melting pot analogy implies to many, melting in to become a "real American". The reality of a true melting pot is the formation of a new alloy and thus a different American influenced by all the elements within it.

    I prefer the Canadian salad bowl model, where in theory, the individual elements are appreciated for what they are, with no pressure to blend in. The reality of either model is that there will be a gradual integration and eventually assimilation. But, I think that the positive value seen in the new immigrant from the U.S. or Uganda, is likely to leave less of the societal conflicts that occur when we think in terms of Us and Them.

    Presently, our Conservative government in Canada, having long prepared for our upcoming elections in October by being able to present a balanced budget, has seen its all-in policy on oil shattered by the price drop. Thus, they have resorted to fear. It has worked well following the two lone wolf almost simultaneous terrorist attacks in St-Jean Quebec and in Ottawa. That the salad bowl model is not perfect is evidenced by the success of the present Conservative policy of fear, supported by a strong majority of the Canadian populace. The irony is that it is most popular where Canadians are least likely to see an Arab or a Muslim.

    Nevertheless, it seems to me that the European experience, where those of foreign extraction have not been readily accepted, is definitely a model to be avoided. Both the American and Canadian models are vastly superior.
    Mar 11, 2015. 10:03 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Global Equities Head Lower; ECB Kicks Off QE  [View article]
    BlueOkie - You have hit on the one true flaw of Keynesianism in a democracy - a politician would have a hard time being elected if promising to raise taxes and cut benefits when good times occur. The corollary to that is the absolute ignorance of the public on basic economics. At least we have apparently reached the point that the Cheneys of this world can not propose the Laffer Curve as appropriate at all percentages of taxation or that a tax cut is the way to balancing the budget.

    If Right and Left can come to an agreement that contracyclical economics is the way to go, then we can have our ideological battles about the appropriate role of government, and having decided that for any given moment, the appropriate level of taxation to pay for it over a full business cycle.
    Mar 11, 2015. 09:33 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Signs For More Chinese Stimulus?  [View article]
    Deja vu - From what you say, we have nowhere to go. If the more egalitarian world, gradually created after the French Revolution is doomed, certainly the class ridden society of Louis XV that led to his statement or prediction of "After me, the deluge" is no solution. The privileged situation of the upper class of that period at least acknowledged that something was owed to their inferiors. Many of today's privileged, lord it over their "proven" by their poverty inferiors without a thought of "noblesse oblige" that would sometimes motivate the lords of the past.
    Mar 11, 2015. 09:12 AM | 8 Likes Like |Link to Comment
  • Wall Street Breakfast: Euro Plunges Closer To Dollar Parity  [View article]
    Buckoux - Now you're back to your favorite theme, ie., why the warehousing of the mentally ill and the mentally retarded was good policy. As for homelessness, "Hoovervilles" as only one example, existed before JFK, as did "drug abuse" e.g. cocaine in Coke, and gun violence was the theme of your 50's Westerns.

    Stand alone statements can often be ironic, The JFK quote, taken alone in isolation, would fit a Mussolini, Franco or Hitler more than a true democrat, After all, it would be very fitting for a fascist to suggest individual sacrifice for the sake of the state. And fascists would have no qualms on forcing sacrifices on the more recalcitrant. Small "d" democrats would generally prefer individual rights not be denied for the supposed betterment of the state.
    Mar 10, 2015. 04:50 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Global Equities Head Lower; ECB Kicks Off QE  [View article]
    BlueOkie - Every country has its blind spots. That you would use the commemoration of the Selma atrocity of 50 years ago as a lead in to denigrate no one but African Americans unfortunately demonstrates yours all too well.
    Mar 9, 2015. 03:52 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: All Eyes On Jobs  [View article]
    BlueOkie - I honestly don't remember much about the 7th grade geography curriculum back in 1981. What I do remember is the reaction of the teacher of the other classes fearing that my explanation might cause confusion for the students. "Confusion" about two schools of thought that both post lists as factual and exclusionary, I countered, was a good thing.

    Since some adults apparently miss the point I was making, she may have been right, it would seem. Whether one list or the other is better is not the point, and that both models continue to be taught in modern society should bear this out. Both are human constructs. Both may be questioned.

    P/S - Pluto has been relegated to non-planet status, and modern school kids now learn that there are 8 planets.
    Mar 8, 2015. 03:44 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: All Eyes On Jobs  [View article]
    Polecat - Since health care in the U.S. is now at 18% of GDP, isn't the "up to 6% of take home pay" for health insurance a bargain? I'm sure that British health care takes more than that paltry 6%, though only the U.S. comes close to the 18% figure.
    Mar 6, 2015. 02:35 PM | 3 Likes Like |Link to Comment