diogeron

Will Carbon Dioxide Drive the Next Great Commodities Boom?

Very interesting post.

Having said that, to mention Tom Friedman and Glenn Beck in the same sentence is like mentioning Einstein and Alfred E. Newman in the same breath. Tom Friedman and David Brooks, maybe, but Glenn Beck?

Charlie Gasparino: Another Crash 'Has to Happen Again'

Gasparino turns his guns on HUD but doesn't even mention Phil Gramm's role in the Commodity Futures Moderization Act? I think that emphasis is misguided to say the least. As Barry Ritholz put it in his excellent book, "Bailout Nation", Gramm-Leach-Bliley, in combination with the repeal of Glass-Steagall were WMDs, "weapons of monetary destruction." Of course, Gramm's wife, Wendy, was on the board of Enron, one of the drivers behind the CFMA. Of course, Wendy went on to earn almost $2 million as a member of Enron's board, which directly profited from Gramm-Leach-Bliley and Phil ended up at UBS and helped that company's financial stability implode. Nice job, Phil. In fairness to Gasparino, maybe he deals with the CFMA and Gramm in his book and just didn't mention it in the interview. Finally, it doesn't follow that if one believes that regulation won't stop everyone from abusing the system that, therefore, we should have NO regulation because markets will "self-regulate" as the Greenspan/Bush/Paulson crowd obviously believed that helped lead us to the brink of disaster.

Fantasy Housing Numbers a Prelude to the Next U.S. Crash

Since when has the "legal system" been changed? My wife teaches business law at a major public university and maybe she just didn't get the memo, but the system itself has not been changed at all, for better or worse. This kind of hyperbole is not only inaccurate, it's a barrier to serious discourse by serious people.

We're Living Through the Best of Times

So, the people who brought us "mark to market" are socialists? Please. Also, speaking of Reagan, while he was a good president in many ways, I think it's interesting that he was lauded for helping to drop the top marginal tax rate from 70% (on earnings over about $161K) in 1980 to "only" 50% in 1982. Meanwhile, Obama is being called a "socialist" for wanting to raise the marginal tax rate on the 5% richest Americans from 36% to 39%. Something's wrong with this picture.


On Oct 26 09:33 AM Geezer Bela in Exile wrote:

> We have a rerun of the Great Depression, except we know what is going
> on and a Leftist Press can no longer hide the facts. The Socialists
> are deliberately bankrupting industry after industry by using 'mark
> to market' rules. Then they issue monopoly money to grab control
> of industry after industry. Our assets are dwindling, while the FED
> is printing more paper money. Inflation is already under way, just
> not at the grocery store. Inflation shows up as a drop in the value
> of the dollar, the increase in the price of gold and oil, even in
> the face of lessening demand.
> We could be optimistic if there were just one country that made Socialism
> work, just one country that became rich by printing money. Will there
> be another Ronald Reagan who defeats the ventricolist's dummy at
> the polls? Stagflation is the best we can hope for under the current
> regime - true, true. And will we last long enough? The answers will
> come in Time, but only the Potentate of Time knows them now.

A Crude 10 Year Perspective: The DJIA, Oil and Gold

Fact: When Obama was sworn in, the deficit was 1.2 trillion. It is now 1.7 trillion

Opinion: Most economists believe that we need government spending when the consumer is not spending to keep the economy from sliding backwards into a depression. Government spending, assuming it is done wisely (yeah, I know) is a good thing in the middle of a recession and an necessary evil. Whether or not the Obama administration continues deficit spending if and when the economy turns around is a matter of speculation. He says he won't. His critics say he will. We don't know what will actually happen, even if the economy will turn around or not in his four years. We hope so. The good sign is that he is not trying to fund the wars in Iraq and Afghanistan "off budget" with supplementals as Bush did with both wars and the Medicare prescription drug program. The costs of both are in the budget and add to the deficit but at least he's not hiding the numbers. The bad sign is that he allowed the House Democrats to throw things in the stimulus bill that were questionable insofar as their potential to actually stimulate the economy. Unless one is a partisan on one side or the other, I think it's too soon to pretend to Know (captital "K") just what he will do over the next four years.

The Greatest Depression Is Coming

Take this anti-"socialist" pledge....

Date:_________________...

I, ________________________, do solemnly swear to uphold the principles of a socialism-free society and heretofore pledge my word that I shall strictly adhere to the following:

I pledge to eliminate all government intervention in my life. I will abstain from the use of and participation in any socialist goods and services including but not limited to the following:

* Social Security
* Medicare/Medicaid
* State Children’s Health Insurance Programs (SCHIP)
* Police, Fire, and Emergency Services
* US Postal Service
* Roads and Highways
* Air Travel (regulated by the FAA)
* The US Railway System
* Public Subways and Metro Systems
* Public Bus and Light Rail Systems
* Rest Areas on Highways & Sidewalks
* All Government-Funded Local/State Projects (e.g., see Senator Grassley's Iowa 2009 -- grassley.senate.gov/is... federal appropriations of taxpayer money)
* Public Water and Sewer Services (including but not limited to public toilets, showers, dishwashers, kitchen sinks, and outdoor hoses)
* Public and State Universities and Colleges
* Public Primary and Secondary Schools & Sesame Street
* Publicly Funded Anti-Drug Use Education for Children
* Public Libraries & Museums
* Public Parks and Beaches
* State and National Parks
* Public Zoos
* Unemployment Insurance
* Municipal Garbage and Recycling Services
* Treatment at Any Hospital or Clinic Has Received Funding from Local, State or Federal Government
* Medical Services and Medications That Were Created or Derived from Any Government Grant or Research Funding
* Byproducts of Government Investment Such as Velcro (NASA)
* Use of the Internet, email, and networked computers, as the DOD's ARPANET was the basis for computer networking
* Foodstuffs, Meats, Produce and Crops That Were Grown with, Fed with, Raised with or Contain Crops Grown with Government Farm Subsidies
* Clothing Made from Crops (e.g. cotton) That Were Grown with or Contain Inputs from Government Subsidies
If a veteran of the government-run US military, I will forego my VA benefits and insist on paying for my own medical care.

I will not tour socialist government buildings like the Capitol in Washington, D.C.

I pledge never to take myself, my family, or my children on a tour of the following types of socialist locations, including but not limited to:

* Smithsonian Museums such as the Air and Space Museum or Museum of American History
* The Washington, Lincoln, and Jefferson Monuments
* The government-operated Statue of Liberty
* The Grand Canyon
* The World War II and Vietnam Veterans Memorials
* The government-run Arlington National Cemetery
* All other public-funded socialist sites, whether it be in my state or in Washington, DC

I will urge my Member of Congress and Senators to forego their government salary and government-provided healthcare.

I will oppose and condemn the government-funded military of the United States of America.

I will boycott the products of socialist defense contractors such as GE, Lockheed-Martin, Boeing, Northrop Grumman, General Dynamics, Raytheon, Humana, FedEx, General Motors, Honeywell, and hundreds of others that are paid by our socialist government to produce goods for our socialist army.

I will protest socialist national security departments such as the Pentagon, FBI, CIA, Department of Homeland Security, TSA, Department of Justice and their socialist employees.

Upon reaching eligible retirement age, I will tear up my socialist Social Security checks.

Upon reaching age 65, I will forego Medicare and pay for my own private health insurance until I die.

SWORN AND SIGNED THIS DAY OF ________ IN THE YEAR _____.

_______________________ _______________________ _____________________

Signed Printed Name Town and State


On Oct 19 09:15 AM yank wrote:

> Jerry:
> "Even more if Repubs don't stop fighting it".
> What the hell are you talking about? The Repubs are trying to stop
> us from sliding into socialism. If you think that is a "bad thing"
> I suggest you consider moving to Canada or Europe. If a Great Depression
> is coming I can't think of a more inexperienced, unqualified, naive
> narcisist to run this country into the ground than Obama. You idiots
> were the ones who voted for "change". That's exactly what you got
> morons.
>
> Yank

The Greatest Depression Is Coming

Yes, deficit spending is unsustainable in the long run, but for the government to reign in spending when the consumer is not is to repeat the mistakes of the 1930s. For the record, the deficit was 1.2 trillion when Obama took office and 1.7 now. I, for one, am willing to accept a larger deficit temporarily in order to keep this economy from sliding backwards into a depression. Implicit in the criticism of the stimulus package because it > the deficits is the argument that the government should CUT spending in the midst of the worst recession in decades. Does anyone who has a basic grasp of economics really want to defend that point of view?


On Oct 17 09:05 AM TripleG wrote:

> I hate to admit that this article is right (my opinion). We (the
> congressmen anyway) have run up such an insurmountable debt that
> we have no way out of this mess other than a long hard slug of business
> stagnation and personal failures. Real Estate foreclosures will continue
> despite the announcement of 'the recession is over' by Bernanke,
> Obama and Co., and others.

Cramer's Mad Money - Nice Systems, Nice Stock (10/13/09)

This probably doesn't deserve a response, but here's one anyway: To paraphrase Barney Frank, "What planet are you on?" Let's stick to fundamental analyses of the pros and cons of the stock and leave the conspiracy theorists to spin out their fantasies on other boards.


On Oct 15 02:06 PM george archers wrote:

> I'd run far away from any Israel company. If Israel is found to have
> been envolved in the 911 attacks--Penny stocks

Five Reasons Apple’s iPhone Will Succeed in China

Well done, Jason. I find all of your columns replete with thoughtful critical analyses, devoid of undue hype and insightful.

What's Next for Gold and the Dollar?

I think the Obama "regime" bashing is unfair. Face it, he was handed a huge deficit by the former administration who decided it was wise to launch a war against Iraq, a nation that had nothing to do with Al-Queda or 9-11. Moreover, this war was fought "off-budget" with supplementals, and to pass a Medicare Prescription Drug plan, which massively increased the deficit along with the tax cuts which benefited mainly the wealthy. Those are facts. In contrast, most of the deficit spending this administration has done has been targeted at stimulating the economy and trying to fix the mess left him with the banks and GSEs. If, in the next four years, this administration doesn't move toward deficit reduction if and when the economy turns around, then I will join the chorus of critics. Yet to
talk about being "put on a list" and to criticize this administration in a vaccum as if they managed to create this mess in 9 months alone through profligate spending, is simply disingenous as any fair minded person would have to conclude.


On Oct 13 12:27 PM Vuke wrote:

> Trope??? For goodness sake, User, this is getting into some heavy
> literary stuff. Historical as well. Your post is strongly reminiscent
> of the "Wobblies" of the early twenties.
>
> They too railed against the establishment. Not that I disagree, not
> at all, but these things do correct of their own accord. We're seeing
> some of that now just as happened in the late twenties. I wouldn't
> sweat the "Regime" stuff too much or they'll be putting you on the
> list.
> en.wikipedia.org/wiki/...
>
> On Oct 13 09:03 AM User 353732 wrote:

Jamie Dimon: The Man Who Could Save Wall Street

As someone who worked with this industry for 30 years until retiring a few years ago, this narrative is spot on. And, yes, he's a Democrat, whether you like it or not. Do a bit of research on his background, education and things that informed him intellectually and it all falls into place. Plus, he's the best CEO in the industry, IMHO, irrespective of what one thinks about his politics.


On Oct 09 10:45 PM forge98 wrote:

> The comment on being a democrat doesn't make sense. There is a hint
> that only dems are diverse in their thinking. Nonsense. He's an opportunist,
> good for him. I am very dubious of JPM. I simply don't buy the story.

Bank of America's Gain Is Taxpayers' Loss

As Barry Ritholtz points out in his excellent book, "Bailout Nation", BOA and Ken Lewis didn't get a government guarantee when the Countrywide deal finished and they overpaid for Merrill. He also says that without that guarantee, BOA got "precisely what a thundering herd of cattle leaves in its trail" If they would have waited for Merrill to fail, which looked imminent, then they could have done what Barclays did with Lehmans asset management unit and picked it up for a song.

As an aside, Ritholtz' book and James Stewart's piece in last week's The New Yorker are the two best things I've read on the meltdown, FWIW.

Business Trends: Canadian Healthcare, Medical Foods, Opaque Banking, FHA and Biotech

Well said. As an American who has lived in both Germany and the Netherlands and has travelled extensively, I'm always amused when people talk about how the "United States has the best health care system in the world." As our son is fond of saying when someone makes these kinds of claims, "Where else have you been and where else have you lived?" We do a lot of things better than any other country in the first world, but health care sure as hell isn't one of them.

Is Obama Mimicking 'W.' on Trade?

The "Buy American" part of the stimulus is a misnomer. Actually, it requires that construction materials may come from any of the 39 countries that have agreed to free trade in government procurement, which China has not. It does not say that those construction materials must be "American", so the sturm and drang about Obama abandoning free trade is overstated to say the least.

www.nytimes.com/2009/0...

Solar: Energy's New Growth Sector

I definitely agree with your take on this sector. Well said.

As for Ron Paul, as a former academic trained in the sciences, I find it difficult to take anyone seriously who does not accept evolution, especially someone with a medical degree. Frankly, that is like an astronomer who purports to believe in astrology.


On Sep 18 01:38 PM Jade Queen wrote:

> I read this with great interest.
>
> Suntech and SunPower have pretty good websites. If you are interested
> in this sector, you might take a look.
>
> Suntech's site used to be easier to navigate. I personally would
> make the homeowner navigation easier and showcase the see-throughs
> and light-throughs better, but I'm only a smallholder and possible
> purchaser, so what do I know. Suntech's array of products is pretty
> dazzling.
>
> SunPower should probably take advantage of the issues coming up in
> commercial real estate and find a site in a high-unemployment U.S.
> location, splashingly, pr-wise.
>
> Otherwise, if SolarWorld gears up its marketing, SunPower could be
> challenged by SolarWorld. I have visited the SolarWorld production
> facility in Oregon, and it is impressive.
>
> The market for solar is sophisticated. Some will do the research
> to find out where the products are made. What's more, there's the
> Henry-Ford phenomenon of making things affordable for workers and
> their friends and families. SolarWorld also has plans to take its
> cells into schools for kids to assemble into panels. This could be
> an entree into a DIY market. If kids can do it...oh nevermind, kids
> can operate anything gadgety these days. It doesn't mean adults think
> they can, unless some marketer really good at sucking up makes them
> believe it.
>
> The value of non-explosive, non-polluting, quiet, distributed energy
> could shake loose some investment money among those boomers who have
> investments left. There is potential for reducing monthly cost of
> energy and for possibly having a source of income, should energy
> costs increase and the monopolies' ways of operating change.
>
> There is also a possibiliy, in Oregon, of financing the improvement
> so a subsequent owner could assume it. This could arrive elsewhere
> as well, shaking loose some equity from elders, in areas where there
> still is equity. In addition, it would encourage new home purchasers
> to consider cost of operation in their decisions concerning housing.
>
>
> Places like Gainesville, FL, are going ahead. Their ratepayer-owned
> utility has good feed-in arrangements for property owners.
>
> At some point, distributed renewable energy is going to break out.
> The logic for good neighbors who cooperate well is just too convincing
> in these times.
>
> It will be a while before drilling gets good enough for geothermal
> to play in the residential market. Some temperate locations don't
> pencil that well for geo anyway.
>
> I'm baiting the metal bugs here, but I would love to see a solar-cell
> standard as opposed to a gold standard.
>
> Don't get me wrong, I love Ron Paul. I just see his gold thing as
> a blip I don't get. The real standard is energy. Marybe I'm more
> practical than the average ordinary person. I don't get the jewelry
> thing. I know that's unusual, but in some mini-cultures, I am not
> that far out there.
>
> Is there such a thing as a geo-cultural economist? If there is, I'm
> asking again for input from such a person.
>
> I'm all for making the Fed come clean, and as I understand it, Ron
> Paul is getting closer to getting that, after what, thirty years?
>
>
> If they open the can of worms that is the Fed, the U.S. will become
> the destination for soap-opera and tabloid journalists, the world
> over.
>
> Harlem churchgoers won't be able to get in their churches unless
> they get up at 5 a.m. to beat the journalist/tourists. Maybe the
> opportunistic music tourism will even bleed over to Baltimore. Having
> grown up in Maryland, I hope so. I love some of the parts of the
> D.C. area outside the core. Oh ok, I love some parts of the core
> also.
>
> In sales mode, think about a Solar Standard: energy you can cart
> around, made of sand, with the value embedded from labor input. What's
> not to like?
>
> I own STP and SunPower.