Seeking Alpha

Jackson999

Jackson999
Send Message
View as an RSS Feed
Latest  |  Highest rated
  • The housing crisis is five years old. But for local governments that depend heavily on property taxes, the lag between falling home values and property re-assessments means the housing market bust is just beginning to ravage tax revenues.  [View news story]
    California put a cap on real estate taxes 30 years ago. BFD!

    Now there are fees as long as your arm and leg that serve the same purpose - to extract more $$ from the public. The bureaucrats will get your money one way or another.
    Dec 27, 2011. 02:21 AM | 4 Likes Like |Link to Comment
  • The housing crisis is five years old. But for local governments that depend heavily on property taxes, the lag between falling home values and property re-assessments means the housing market bust is just beginning to ravage tax revenues.  [View news story]
    For instance, Baltimore collected $815 million in property taxes during the most recent fiscal year, according to Bill Voorhees, Baltimore's director of revenue and tax analysis. Next year, the figure is predicted to shrink to $803.5 million. The following year, $773 million. The year after that, $735.7 million. The year after that, $729.4 million.
    -----------
    Our whole economic system is built on the premise of ever increasing growth. When that growth stalls (or worse yet, declines), no one is sure what to do!
    Dec 26, 2011. 05:11 PM | 5 Likes Like |Link to Comment
  • Newest leading indicator of this year's improved holiday economy: U.S. wrapping paper manufacturers and retailers say they're posting their strongest sales since 2007.  [View news story]
    BS! I brought a used CD from Amazon the other day and it came not only boxed but ALSO wrapped in holiday paper. [lol]

    All kinds of stuff that are not necessarily newly purchased gifts get wrapped in holiday paper.
    Dec 24, 2011. 01:17 PM | 1 Like Like |Link to Comment
  • House Republicans cave to Pres. Obama’s demand for a two-month payroll tax cut extension. House Speaker Boehner says his side has ended its opposition to the extension in return for new language in the legislation to make it easy for business payroll staff to process the tax cut.  [View news story]
    Did Boehner break down crying when McConnell reamed him a new ahole and told him who the real bossman was?
    Dec 22, 2011. 11:37 PM | 3 Likes Like |Link to Comment
  • A surprising story out of North Carolina tips off that Governor Bev Perdue's office often received advanced copies of the government's employment figures in advance of the official release from the BLS. The Carolina Journal reports that the governor's staff used the earlier look at the jobs data to massage its own press releases to cast the administration in a favorable light - in stark violation of federal laws regarding embargoed government data. [View news story]
    This data was also shared back in 2003/2004 under GWB.

    When will the prosecutions start?
    Dec 19, 2011. 01:53 PM | 1 Like Like |Link to Comment
  • Courtroom drama MIA: ProPublica cuts deeply to the bone when evaluating the SEC's apparent unwillingness to go to trial with big cases against financial firms and execs ever since its high-stakes loss in a Bear Stearns case. "The S.E.C. is not getting big enough settlements out of the largest banks. It's not bringing enough financial cases. It isn't going after the big banks' top executives. It's being way too cautious in its interpretation of its role as defender of the fairness and sanctity of the markets."  [View news story]
    This is because they get the same pay whether they prosecute anyone or not.

    And the politicians/Congress are also happier when their big campaign donors don't wind up on trial or in jail.
    Dec 19, 2011. 01:49 PM | 1 Like Like |Link to Comment
  • Google's (GOOG) Eric Schmidt tells an Italian paper his company will release a high-end tablet, presumably based on Ice Cream Sandwich, in the next 6 months. The iPad has thus far left every high-end rival fighting for scraps; Google needs to hope the Kindle Fire's (AMZN) success, mixed blessing though it is, will help narrow Apple's (AAPL) tablet app lead relative to Android.  [View news story]
    GOOG is turning into a Microsoft clone. They never seem to be the first to release anything, instead always coming out with a similar product months/years after someone else blazed the trail. They are always playing catch-up.
    Dec 19, 2011. 01:46 PM | Likes Like |Link to Comment
  • Young troops leaving Iraq can expect to face a tough time finding work should they return to civilian life: the jobless rate for those aged 20-24 averages 30%, over double that of their peers. Reservists also find it difficult, and the situation could worsen, with 1M vets predicted join the work force over the next 5 years.  [View news story]
    Jeez. Had to pull up my waders to make it through your fawning post.

    The soldiers VOLUNTEERED to join the military on their own. Most joined up because they couldn't find work elsewhere or they couldn't afford or get into college. They didn't become "brave" because they went to a war zone as ordered and they didn't become "hero's" just because they volunteered for military service too fight two illegal wars. I am confident that "god" doesn't look at them any different that he looks at anyone else.

    The soldiers were merely workers who were hired to do a job. As such, I agree that they should get the same unemployment benefits and training opportunities that anyone else would get if they lost their job if their employer (the military) no longer has any use for them. If they were injured, then the military should pay whatever costs are necessary to help them rehabilitate themselves.
    Dec 18, 2011. 03:09 PM | 1 Like Like |Link to Comment
  • After recently delaying measures to ban Congressmen from insider trading, the House will take up legislation early next year, says Eric Cantor. The bill, called the Stop Trading on Congressional Knowledge, or STOCK Act, has the support of over 230 House reps; a Senate panel passed a similar measure last week.  [View news story]
    The internet is what has forced daylight on the Congress cockroaches like Cantor that hoped to bury this initiative. Years ago, Cantor would have succeed in burying this bill but he could get away with this in the net age.

    Instead, look forward to any such bill prohibiting Congress inside trading to get significantly watered down with plenty of exclusions and loopholes.

    This is where the founders made a mistake in the Constitution. We need an amendment prohibiting Congress from making laws that affect themselves. Someone else needs to oversee Congress because they clearly are not capable of doing so honestly on their own.
    Dec 18, 2011. 02:44 PM | 2 Likes Like |Link to Comment
  • Young troops leaving Iraq can expect to face a tough time finding work should they return to civilian life: the jobless rate for those aged 20-24 averages 30%, over double that of their peers. Reservists also find it difficult, and the situation could worsen, with 1M vets predicted join the work force over the next 5 years.  [View news story]
    Why don't they stay in the military? Are they being kicked out?
    Dec 18, 2011. 04:01 AM | 1 Like Like |Link to Comment
  • Amid all the gloom and doom about unemployment, signs are emerging that things actually may be getting better. The drop in weekly jobless claims to 2008 levels is one indicator pointing to a slightly improving employment picture; others include gains in small business hiring, a pickup in online job advertising and an increase in job openings.  [View news story]
    BS!

    See:
    http://bit.ly/rpm2Bc
    Dec 15, 2011. 06:09 PM | 1 Like Like |Link to Comment
  • Gold prices (GLD -3.5%) are supposedly tied to inflation, but Eddy Elfenbein believes gold's value should be based on interest rates. He finds gold acts like a leveraged short position on short-term real rates, with a break-even point at 2%. David Merkel's variation on the model projects gold reaching $3,000 in mid-2013 if the Fed stays true to its word to keep rates low.  [View news story]
    Mish wrote some articles some time ago about how gold is better in deflation than in inflation.
    Dec 14, 2011. 04:19 PM | Likes Like |Link to Comment
  • Ugly chart of the day: The U.S. residential housing market is very closely tracking the Japanese experience, shifted 15 years.  [View news story]
    Housing growth depends on a good economy and people being able to find jobs. But with 14 million+ unemployed and many younger people unable to even enter the work force after college, it looks to be a long time before housing comes back (if it ever does).

    This is one of those "unintended consequences" of farming so many industries and jobs out of the USA to the lowest paid workers somewhere in Asia.
    Dec 14, 2011. 04:17 PM | Likes Like |Link to Comment
  • Word begins to filter out from a meeting between Bernanke and Republican congressional leaders regarding Europe. Senator Graham: Bernanke told the group the Fed has neither the intention nor the authority to bail out EU banks or states. Senator DeMint: He's satisfied the Fed will not be providing any funding to the IMF. (DeMint previously)  [View news story]
    Oops. Look for inside trades now on Bernanke info.
    Dec 14, 2011. 04:09 PM | 1 Like Like |Link to Comment
  • In addition to starting Yahoo (YHOO) with a Sell, Goldman's Heath Terry is launching coverage on many other Internet names. GRPN, PCLN, ACOM, and EBAY receive Buy ratings; Terry likes Ancestry.com's business model, and is a fan of Priceline's international exposure. However he's bearish on comScore (SCOR), arguing technology changes will make it hard for the research firm to maintain data quality.  [View news story]
    User comments have been broken on Yahoo! for 2 or 3 days now. They don't seem to have the technical ability any more to figure out what the problem is.
    Dec 14, 2011. 04:07 PM | Likes Like |Link to Comment
COMMENTS STATS
468 Comments
650 Likes