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  • Obamacare And The Government Shutdown  [View article]
    Steve, glad to see that you are bringing the real problem with US healthcare to the forefront ... too many people making too much money off the sick!

    Both political parties have only made very token efforts to reduce healthcare costs. Why, because the lobbyists for doctors, hospitals, drug & medical supplies companies, insurance providers, and healthcare provider unions have spent tons of money paying politicians to do nothing except increase government subsidies for the uninsured (i.e. Obamacare and Medicaid). No real efforts to control the cost of healthcare from the entities referenced above have yet to be made.

    What the healthcare industry needs from a consumer perspective is, to borrow the WalMart analogy, some serious price ROLLBACK. Sure there are lots of other problems to address, like patient responsibility and the cost of educating healthcare professionals to name two, but I believe the first place to start is getting serious about reducing the costs of everything related to healthcare ... not throwing more money at it which is the classical approach endorsed by democrats, not that republicans have any better ideas.

    Also, let's stop believing the misguided distraction that throwing technology (i.e. money) at healthcare will miraculously solve the cost problem ... just more money spent for medical tech workers and technology suppliers.

    The climate for healthcare reform is polluted with self-interested parties who only want to protect their vested interests. When will we ever realize that throwing more money at this problem will NOT make it go away? Never?
    Oct 13, 2013. 05:33 AM | 5 Likes Like |Link to Comment
  • More on Dijsselbloem: "Careless talk costs lives," writes the FT's Paul Murphy of the new Eurogroup head, "and it's about time it cost you your job." His "template" statement is "direct advice to dump bank det. And it's a direct invitation to speculate that the EESF, the ESM ... is going to be discarded in favor of calling on depositors' money across the Continent."  [View news story]
    It is amazing to see that when honesty is introduced into this arena how intense the criticism becomes. It should be obvious to everyone that when a sovereign requests a bailout that "all" pertinent options should be on the table for consideration. Whether any specific solution becomes a template for any other solution is a moot point.

    Finally, the "bailin" option is out of the closet. Now banks and governments can be held directly responsible by account holders, not just tax payers, for their irresponsible investment and regulatory actions. Needless to say, depositors need to be far more careful about where they park their money to make an easy buck.
    Mar 25, 2013. 05:07 PM | 1 Like Like |Link to Comment
  • There's no chance Germany lets Cyprus default, says Cullen Roche in a wonderful twitter rant. A default means a quick economic bust, but also a return to a now "super-competitive" currency, at which point the Greeks gaze across the water and realize what a great idea this is. This will be followed by the Portuguese, the Spaniards, and the Italians. There goes the German trade surplus. Something to think about before reflexively reaching to sell euros every time bad news hits.  [View news story]
    The Cypriots need to accept reality and pay their part of the price to stay in the euro ... default is way too much pain! As regards the Greeks, if they look to Cypriot actions as a possible escape option, they too are in denial and should reap the same pain they so dearly deserve.
    Mar 22, 2013. 03:42 PM | Likes Like |Link to Comment
  • Weighing The Week Ahead: What Lies Beyond The Cliff?  [View article]
    This president is not a leader. He has clearly demonstrated that it's his way or the highway. There could have been a deal a long time ago if obama and the dems could agree on "real" spending cuts and not just babbling about framework agreement and being close. The reps have all but conceded higher taxes for the rich so what's the problem?

    There are two major ones. First, this country is SPENDING $100B more a month than its taking in and we are in the 2nd year of recovery. How can anyone justify, other than self-interest, a tax cut extension for anyone without comparable spending cuts?

    The second problem is this president. The only way he knows how to lead is to throw borrowed money at problems and give out more handouts. He will not accept a legacy as the president who reduced handouts for his base.

    The solution is to go over the cliff and coupled with the added issue of the debt ceiling force the president, dems and reps to do the right thing for the entire country and not just their bases. A non-partisan "balanced" solution is possible once serious detailed spending cuts are on the table for negotiation.
    Dec 30, 2012. 07:44 AM | 6 Likes Like |Link to Comment
  • Pres. Obama says he'll ask Harry Reid to put a "basic package" on the floor for an "up-or-down vote," should Congress fail to reach a deal. Congressional leaders suggest an afternoon meeting with Obama went well, but Wall Street isn't convinced the fiscal cliff will be avoided. Equity futures have added to their losses following the close.  [View news story]
    More obama bs ,,, this president is not a leader, he does not know what compromise means, just wants his way or the highway like a spoiled brat! It is clear that this govt is spending $100B more a month than it takes in. Why in the world do you give another tax cut without decreasing SPENDING!

    It has been obvious the past few weeks that obama and dems were not serious about details of spending cuts so the dems used the camouflage of agreeing on framework and being only a few $B away so they could blame reps for no deal. What a crock!

    We need to go over the cliff so that obama's lack of leadership becomes the issue and people start screaming at him. When obama changes his tune then a real deal can be made.
    Dec 29, 2012. 06:53 AM | 2 Likes Like |Link to Comment
  • More on ADP jobs: Now included with the reports are the insights of Mark Zandi, and he blames Sandy for "slicing" 86K from payrolls. By this calculation, November would have seen a gain of 204K vs. October's 157K. Economy fixed.  [View news story]
    Zandi is a blathering optimist and liberal stooge ... has hardly ever been right about employment over the last several years.
    Dec 5, 2012. 09:30 AM | 1 Like Like |Link to Comment
  • To help former soldiers fill advanced manufacturing positions, major corporations, community colleges and veterans organizations are forming a coalition called "Get Skills to Work" that will train the vets and assist them in translating their existing skills. The companies include GE, Alcoa (AA), Boeing (BA) and Lockheed Martin (LMT). GE CEO Jeff Imelt says it's not just patriotism that spurs the firms: "veterans are a perfect fit."  [View news story]
    It's called OJT (on-job-training) for veterans and others ... other businesses need to stop belly-aching about not finding qualified people and get with the program!!!
    Oct 15, 2012. 07:17 AM | 1 Like Like |Link to Comment
  • More on the Spanish stress tests: The base case scenario (page 11) assumes GDP growth returns in 2013 (0.7%) and 2014 (1.2%). For stocks, the IBEX is assumed down 1.3% in 2012 (currently down about 15% YTD), and then essentially flat over the next two years. The adverse scenario has stocks down 5% in 2013, flat in 2014 - that's the adverse scenario.  [View news story]
    This is a joke right ... what kind of stress test is that ... unbelieveable!!!
    Sep 28, 2012. 01:06 PM | Likes Like |Link to Comment
  • Did Bernanke Just Flip The Bird To Romney - Weekly Economic Review  [View instapost]
    With all his chips in come Jan 2014, Bernanke will be viewed as either a hero or a goat ... I vote for goat! No matter who is president helicopter Ben will be out.
    Sep 15, 2012. 11:31 AM | 1 Like Like |Link to Comment
  • It was Goldman Sachs that took over Knight Capital's (KCG) positions following the software glitch on Wednesday, a faux-pas that ended up costing Knight $440M.   [View news story]
    How in the heck does GS make $440M for covering 45 minutes of trading and KCG loses $440M in the same time? The SEC needs to investigate these goings on!!!!
    Aug 3, 2012. 03:28 PM | 2 Likes Like |Link to Comment
  • Six losing days may be plenty for many investors; after an early-morning run, stocks have built steadily to solid gains: S&P 500 +1.4%; Nasdaq +1.2%; Dow +1.5%. Hewlett-Packard (HPQ -2.1%) is the only Dow component not trading higher.   [View news story]
    Today's rally is largely based on marginal news (JPM,China,PPI) that is not as bad as it could have been, with very low volume, and not something to get all that excited about! Indexes should give back at least half their gains by the close ... the rest on Monday.
    Jul 13, 2012. 12:13 PM | Likes Like |Link to Comment
  • More from the FOMC: "Growth in employment has slowed in recent months ... Household spending appears to be rising at a somewhat slower pace." Separate statement regarding the extension of Operation Twist: The Open Markets Desk at the FBRNY is directed to "extend the average maturity of the Fed's holdings of Treasury securities."   [View news story]
    One negative not being mentioned by the talking heads is that although the end-of-twist has bypassed Nov elections it has now been added to the yearend fiscal cliff ... something else to worry about.
    Jun 20, 2012. 01:17 PM | Likes Like |Link to Comment
  • President Obama's advance team might want to do a little more fact checking next time they send the president out with the housing crisis' latest "victims" to tout home refinance. The president visited a Nevada couple on Friday, describing them as “responsible” homeowners who owe more on their mortgage than it's currently worth. The fact is, the couple did a cash-out refinance in 2007, borrowing $178K off the equity in the home. Had they not taken that money out, and continued paying on the original mortgage, they would not be underwater today.   [View news story]
    This is a great example of the handout mentality that liberals (primarily Democrats) are taking for solving the housing crisis we've just gone through. How can you call someone "responsible" for using their home as an ATM? Why should responsible taxpayers be on the hook for people like this? This administration wants to get re-elected by promising more handouts and not doing the responsible thing for this country!
    May 12, 2012. 07:12 AM | 1 Like Like |Link to Comment
  • At the close: Dow -0.27% to 12820. S&P -0.34% to 1353. Nasdaq +0.01% to 2934.
    Treasurys: 30-year +0.49%. 10-yr +0.22%. 5-yr +0.09%.
    Commodities: Crude -1.28% to $95.84. Gold -0.92% to $1580.85.
    Currencies: Euro -0.11% vs. dollar. Yen -0.04%. Pound +0.48%.   [View news story]
    This afternoon Obama, on a campaign trip to swing-state Nevada, is touting the example of a Reno couple as “responsible” and deserving of a break when they refinanced their home in 2007, took out $50K in cash and now find themselves underwater on their mortgage. This is a great example of the handout mentality that liberals (primarily Democrats) are taking for solving the housing crisis we've just gone through. How can you call someone "responsible" for using their home as an ATM? Why should responsible taxpayers be on the hook for people like this. This administration wants to get re-elected by promising more handouts and not doing the responsible thing for this country!
    May 11, 2012. 04:05 PM | 1 Like Like |Link to Comment
  • Syriza party chief Tsipras tones things down a bit on the bailouts (from "barbaric," "null and void"), telling CNBC of his desire to keep Greece in the eurozone and his willingness to negotiate with the Troika to achieve such. Polls have Tsipras as the leading vote-getter if another election is held in June.   [View news story]
    Let's get real ... who wouldn't vote to keep the Euro and not have any austerity? This guy is a shoo-in ... until he has to keep his promises!
    May 10, 2012. 02:42 PM | 2 Likes Like |Link to Comment