bobomite's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/268268/comments http://seekingalpha.com/article/163939-case-shiller-s-recent-strength-it-s-not-just-seasonality?source=feed#comment-695852 695852
Median house price: ~$200k

$8K credit to 1st time buyers = 4%

I don't see how this is "hashing the bears' argument." This is just more artificial propping of house prices.

Offer $16k credits and watch even more housing growth happen!

;)]]> Tue, 29 Sep 2009 15:39:14 -0400
Median house price: ~$200k

$8K credit to 1st time buyers = 4%

I don't see how this is "hashing the bears' argument." This is just more artificial propping of house prices.

Offer $16k credits and watch even more housing growth happen!

;)]]> http://seekingalpha.com/news/market_currents/post/33085?source=feed#comment-689411 689411 Thu, 24 Sep 2009 12:50:32 -0400 http://seekingalpha.com/news/market_currents/post/31464?source=feed#comment-650813 650813
Time for some fat bonus payments!]]> Fri, 28 Aug 2009 10:32:53 -0400
Time for some fat bonus payments!]]> http://seekingalpha.com/news/market_currents/post/31459?source=feed#comment-650689 650689 Fri, 28 Aug 2009 09:49:02 -0400 http://seekingalpha.com/article/155566-cramer-s-stop-trading-citigroup-is-red-hot-8-11-09?source=feed#comment-631228 631228
So, my prediction is that their stocks will run up, the banks will take more risky moves, and when the price starts falling you know that the insiders got the word that there would be a partial takeover.

Then after the price collapses, they will buy the stock at $.15 a share and enjoy the miracle bounce when the bad assets are stripped and the company released from bankruptcy in an amazingly short time.

Well, at least we all learned something from the big credit bust. I think we learned "rinse, repeat."]]> Sat, 15 Aug 2009 18:00:20 -0400
So, my prediction is that their stocks will run up, the banks will take more risky moves, and when the price starts falling you know that the insiders got the word that there would be a partial takeover.

Then after the price collapses, they will buy the stock at $.15 a share and enjoy the miracle bounce when the bad assets are stripped and the company released from bankruptcy in an amazingly short time.

Well, at least we all learned something from the big credit bust. I think we learned "rinse, repeat."]]> http://seekingalpha.com/article/155713-despite-what-cramer-said-housing-has-not-bottomed?source=feed#comment-630056 630056 Fri, 14 Aug 2009 12:28:53 -0400 http://seekingalpha.com/article/143526-the-new-supersized-fed?source=feed#comment-549451 549451
Just another way to look at the expanding Fed balance sheet. The author got one thing right - this isn't going to change anytime soon.]]> Tue, 16 Jun 2009 20:28:44 -0400
Just another way to look at the expanding Fed balance sheet. The author got one thing right - this isn't going to change anytime soon.]]> http://seekingalpha.com/article/143499-viewer-s-guide-to-president-obama-s-wednesday-regulatory-reform-announcement?source=feed#comment-548899 548899 Tue, 16 Jun 2009 13:11:17 -0400 http://seekingalpha.com/article/126670-helicopter-ben-turns-into-ballistic-missile?source=feed#comment-431448 431448
This is is going to encourage further US gov't debt and also inflate house prices, preventing them from reaching proper historical levels vs. household income levels.

This is nothing more than the same shell game of the last few decades, played at the top of the paper-trail food chain.]]> Wed, 18 Mar 2009 18:40:43 -0400
This is is going to encourage further US gov't debt and also inflate house prices, preventing them from reaching proper historical levels vs. household income levels.

This is nothing more than the same shell game of the last few decades, played at the top of the paper-trail food chain.]]> http://seekingalpha.com/article/124930-the-president-vs-blogs-and-the-future-of-derivatives?source=feed#comment-419358 419358
In this environment it is indeed impossible to know what is really going on.

Private central banking is supposed to eliminate the corruption and distortion that politicians would bring if allowed to directly control monetary policy.

I submit a counter-argument: The non-transparent disaster that our banking system has created has already consumed more money than every pork project that Congress has ever passed in history, and the full bill is not even tallied yet.]]> Mon, 09 Mar 2009 12:58:04 -0400
In this environment it is indeed impossible to know what is really going on.

Private central banking is supposed to eliminate the corruption and distortion that politicians would bring if allowed to directly control monetary policy.

I submit a counter-argument: The non-transparent disaster that our banking system has created has already consumed more money than every pork project that Congress has ever passed in history, and the full bill is not even tallied yet.]]> http://seekingalpha.com/article/124403-the-free-market-votes-still-no-change-we-can-believe-in?source=feed#comment-414879 414879
The purpose of money is to facilitate trade and production. Having a private central bank owned by the banks does not support that. Corporations have nothing but self interest.

However due to that illiteracy, even baby steps towards another system are highly unlikely. We're probably stuck with the self-enriching, fractional reserve lending, interest consuming system that we have.]]> Thu, 05 Mar 2009 16:28:12 -0500
The purpose of money is to facilitate trade and production. Having a private central bank owned by the banks does not support that. Corporations have nothing but self interest.

However due to that illiteracy, even baby steps towards another system are highly unlikely. We're probably stuck with the self-enriching, fractional reserve lending, interest consuming system that we have.]]> http://seekingalpha.com/article/124387-why-felix-should-walk-away?source=feed#comment-414832 414832 Thu, 05 Mar 2009 16:02:03 -0500 http://seekingalpha.com/article/123889-the-new-talf-how-s-this-for-irony?source=feed#comment-411861 411861 Tue, 03 Mar 2009 17:46:54 -0500 http://seekingalpha.com/article/123834-rethinking-subsidized-finance?source=feed#comment-411464 411464
Commercial banks would still exist - they can do business with anyone seeking more than these basic and fundamental services, such as credit cards or LBO action. The commercial banks would do this by borrowing money from the Treasury. (Not the Fed.)]]> Tue, 03 Mar 2009 13:31:49 -0500
Commercial banks would still exist - they can do business with anyone seeking more than these basic and fundamental services, such as credit cards or LBO action. The commercial banks would do this by borrowing money from the Treasury. (Not the Fed.)]]> http://seekingalpha.com/article/122751-the-inversion-of-corporate-and-sovereign-risk?source=feed#comment-404025 404025 Thu, 26 Feb 2009 03:43:11 -0500 http://seekingalpha.com/article/121688-santelli-s-rant-a-watershed-moment?source=feed#comment-397873 397873
So Santelli has been consistent, and this "rant" was right on target.]]> Sat, 21 Feb 2009 13:56:55 -0500
So Santelli has been consistent, and this "rant" was right on target.]]> http://seekingalpha.com/article/121694-eight-reasons-bank-of-america-is-going-to-20?source=feed#comment-397857 397857
Must be a young Angelo Mozilo in the making.
]]> Sat, 21 Feb 2009 13:39:57 -0500
Must be a young Angelo Mozilo in the making.
]]> http://seekingalpha.com/article/121271-obama-s-housing-plan-elegant-and-costly?source=feed#comment-394051 394051
Housing prices have to come to historical levels. Subsidizing failing banks and overpriced houses is slathering bad debt with more bad debt. It also punishes those who have been saving money to buy houses they can afford. Now they are also on the hook for the greed party that this country has been throwing for decades.

And comments to this article mentioned things like "the banks are getting all this money, so homeowners should get some too!" Wow, this nation is filled with greedy, whining, short-sighted children pretending to understand adult matters. I hear the same nonsense comments on all the cable news channels too.

So yea if you're happy with it then bravo for you. For me it is like watching a slow motion train wreck unfolding.]]> Wed, 18 Feb 2009 16:02:53 -0500
Housing prices have to come to historical levels. Subsidizing failing banks and overpriced houses is slathering bad debt with more bad debt. It also punishes those who have been saving money to buy houses they can afford. Now they are also on the hook for the greed party that this country has been throwing for decades.

And comments to this article mentioned things like "the banks are getting all this money, so homeowners should get some too!" Wow, this nation is filled with greedy, whining, short-sighted children pretending to understand adult matters. I hear the same nonsense comments on all the cable news channels too.

So yea if you're happy with it then bravo for you. For me it is like watching a slow motion train wreck unfolding.]]> http://seekingalpha.com/article/118179-is-foreclosure-the-solution?source=feed#comment-374620 374620
And if I rent an apartment that is too fancy and expensive, I don't believe there is a rental agreement modification process to lower my rent either. I think they would just boot me out on the street.]]> Tue, 03 Feb 2009 13:28:46 -0500
And if I rent an apartment that is too fancy and expensive, I don't believe there is a rental agreement modification process to lower my rent either. I think they would just boot me out on the street.]]> http://seekingalpha.com/article/115748-apple-like-starbucks-and-whole-foods-a-trend-that-s-past-its-prime?source=feed#comment-362517 362517
You would think if you invest in a hardware and device company you would already know that there is a small army of devices that are aimed squarely at the iPhone buying users. Some are better devices, and most are cheaper by far. Including not actually costing a few grand with that 2-year contract lockup and the inability to use the device reliably on any but one carrier network.

Where to even begin... try reading phonescoop.com or one of the handset sites. You will shudder at the iPhone clones already out and soon to be out if you are still holding Apple stock.]]> Wed, 21 Jan 2009 20:50:22 -0500
You would think if you invest in a hardware and device company you would already know that there is a small army of devices that are aimed squarely at the iPhone buying users. Some are better devices, and most are cheaper by far. Including not actually costing a few grand with that 2-year contract lockup and the inability to use the device reliably on any but one carrier network.

Where to even begin... try reading phonescoop.com or one of the handset sites. You will shudder at the iPhone clones already out and soon to be out if you are still holding Apple stock.]]> http://seekingalpha.com/article/115425-how-the-iphone-and-poor-management-contribute-to-apple-s-downfall?source=feed#comment-362515 362515 Wed, 21 Jan 2009 20:42:48 -0500 http://seekingalpha.com/article/115358-retailers-on-the-extinction-list?source=feed#comment-360332 360332
Gap is listed here as doomed but I know: a) closing 85 stores is nothing and b) the company is doing fine compared with it's peers.]]> Mon, 19 Jan 2009 19:16:42 -0500
Gap is listed here as doomed but I know: a) closing 85 stores is nothing and b) the company is doing fine compared with it's peers.]]> http://seekingalpha.com/article/115370-igoogle-gadgets-are-getting-social-smarts?source=feed#comment-360309 360309
Mark my words, that company is on the way down, just like it's predecessors.

Hubris and lack of focus are a powerful combination.]]> Mon, 19 Jan 2009 18:42:03 -0500
Mark my words, that company is on the way down, just like it's predecessors.

Hubris and lack of focus are a powerful combination.]]> http://seekingalpha.com/article/115362-let-s-have-inflation?source=feed#comment-359996 359996
It's funny, Enron blew up and people went to jail for hiding bad assets and debts off book. Here we are a few years later with hundreds, maybe thousands of Enrons doing exactly the same thing.

The only effort being made is to pump cash into them. Now the talk is of making official government banks to take all the bad assets, LEGALIZING this criminal behavior. Hmmm, what lesson are these CEOs learning from all this? Let me take a guess...

And crazy ideas like inflating the whole economy to lock in historically unsustainable house prices. Where to even begin with this crap? That would be like the Dutch government inflating the rest of their economy to catch the falling prices of tulip bulbs in 1636. Makes no sense.]]> Mon, 19 Jan 2009 12:58:49 -0500
It's funny, Enron blew up and people went to jail for hiding bad assets and debts off book. Here we are a few years later with hundreds, maybe thousands of Enrons doing exactly the same thing.

The only effort being made is to pump cash into them. Now the talk is of making official government banks to take all the bad assets, LEGALIZING this criminal behavior. Hmmm, what lesson are these CEOs learning from all this? Let me take a guess...

And crazy ideas like inflating the whole economy to lock in historically unsustainable house prices. Where to even begin with this crap? That would be like the Dutch government inflating the rest of their economy to catch the falling prices of tulip bulbs in 1636. Makes no sense.]]> http://seekingalpha.com/article/115269-how-an-honest-money-system-can-help-america?source=feed#comment-358991 358991
The problems with using metal objects as money include:

-Far too easy for banks or other interests to corner the market
-Money supply can not be adjusted without buying into that cornered market
-It does not address the real problem we face today, which is debt, not fiat currency

Gold, silver etc. will always retain value as a backup unit of trade in the event of total financial collapse. But they are not suitable as the backbone of modern economic systems.

It is comforting for people to conclude that a gold standard is the answer to the problems we face today, but that does not make it true.]]> Sun, 18 Jan 2009 11:20:54 -0500
The problems with using metal objects as money include:

-Far too easy for banks or other interests to corner the market
-Money supply can not be adjusted without buying into that cornered market
-It does not address the real problem we face today, which is debt, not fiat currency

Gold, silver etc. will always retain value as a backup unit of trade in the event of total financial collapse. But they are not suitable as the backbone of modern economic systems.

It is comforting for people to conclude that a gold standard is the answer to the problems we face today, but that does not make it true.]]> http://seekingalpha.com/article/115275-8-important-facts-about-the-federal-reserve?source=feed#comment-358952 358952
Mathematically, our financial system will implode eventually. This will provide the opportunity to re-learn that these systems can be built however we choose.

The first crucial step is that enough people need to actually take an effort to understand what money is and how our financial systems actually work. The current downturn is certainly encouraging people to begin that education.

This article is in a great example of that process in action.]]> Sun, 18 Jan 2009 10:48:30 -0500
Mathematically, our financial system will implode eventually. This will provide the opportunity to re-learn that these systems can be built however we choose.

The first crucial step is that enough people need to actually take an effort to understand what money is and how our financial systems actually work. The current downturn is certainly encouraging people to begin that education.

This article is in a great example of that process in action.]]> http://seekingalpha.com/article/115011-the-rise-of-an-epic-financial-crisis?source=feed#comment-358948 358948
Mathematically, our financial system will implode eventually. This will provide the opportunity to re-learn that these systems can be built however we choose.

The first crucial step is that enough people need to actually take an effort to understand what money is and how our financial systems actually work. The current downturn is certainly encouraging people to begin that education.]]> Sun, 18 Jan 2009 10:44:13 -0500
Mathematically, our financial system will implode eventually. This will provide the opportunity to re-learn that these systems can be built however we choose.

The first crucial step is that enough people need to actually take an effort to understand what money is and how our financial systems actually work. The current downturn is certainly encouraging people to begin that education.]]> http://seekingalpha.com/article/114053-paulson-vs-buffett?source=feed#comment-351023 351023
The next Treasury head is a Federal Reserve guy.

You can write long articles trying to justify the nuances and what if scenarios all day long. But at the end of the day banks (and Buffett) are just for-profit corporations with the altruistic motivations of sharks.

The whole concept that a nation's economy is better served when franchised out to the banking industry is not compatible with reality. Only constant inflation masks this flaw in the system, allowing interest to be paid at the expense of savings. However the debt increases year over year anyway.

It has taken many years for the layers of debt at national, state, company and individual levels to hit this crisis point. However, there is no reason to expect things to change at all if one understands the nature of the debt spiral that is our economic model.

Banks and their supporters will do anything to preserve this system because it has made them very rich, not because it is a good system.]]> Fri, 09 Jan 2009 13:40:50 -0500
The next Treasury head is a Federal Reserve guy.

You can write long articles trying to justify the nuances and what if scenarios all day long. But at the end of the day banks (and Buffett) are just for-profit corporations with the altruistic motivations of sharks.

The whole concept that a nation's economy is better served when franchised out to the banking industry is not compatible with reality. Only constant inflation masks this flaw in the system, allowing interest to be paid at the expense of savings. However the debt increases year over year anyway.

It has taken many years for the layers of debt at national, state, company and individual levels to hit this crisis point. However, there is no reason to expect things to change at all if one understands the nature of the debt spiral that is our economic model.

Banks and their supporters will do anything to preserve this system because it has made them very rich, not because it is a good system.]]> http://seekingalpha.com/article/112936-are-home-prices-still-too-high?source=feed#comment-346982 346982 Mon, 05 Jan 2009 21:58:11 -0500 http://seekingalpha.com/article/113268-from-crunch-to-catatonia?source=feed#comment-346948 346948
Meanwhile Madoff is an evil guy because he pretended to have more money than he really did.

Hmmm, how does fractional reserve banking work? At least the banks are lowering that ratio from 30-1 (or more) by having the Fed buy their crappy assets. Wait - the banks own the "Fed." Now I'm confused. Isn't that a Ponzi scheme? Two sets of books and all that?

Yea sounds like a great system. If only that was "working better" we'd all be in a good place.]]> Mon, 05 Jan 2009 20:49:28 -0500
Meanwhile Madoff is an evil guy because he pretended to have more money than he really did.

Hmmm, how does fractional reserve banking work? At least the banks are lowering that ratio from 30-1 (or more) by having the Fed buy their crappy assets. Wait - the banks own the "Fed." Now I'm confused. Isn't that a Ponzi scheme? Two sets of books and all that?

Yea sounds like a great system. If only that was "working better" we'd all be in a good place.]]>