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  • Wall Street Breakfast: Must-Know News [View article]
    That's the really cool thing about the "war on terror." You can justify any budget, eliminate troublesome rights, do away with due process, habeas corpus, grant limitless power to the President and pretty much do anything else you want. It makes the fascist's job a lot easier and it's a defense contractor's dream. If anybody complains, you say they're soft on terrorists. The ignorant masses go along with it because they're afraid. Then one day they will wake up and you find out the real terrorists have been on K Street all along.

    The thing is, intelligence is the only way to really combat terrorism, but that doesn't mean the Constitution should be shredded "just until we eliminate terrorism." We have already killed more Americans and done more damage to our economy through this quixotic quest than Osama bin Laden could have hoped for. We have created even more enemies and more potential terrorist recruits as a result of misguided and counterproductive war. We won nothing. We will win nothing. I guess we'll just keep killing them until they love us. And it's still not over.
    Jun 6 12:44 PM | 9 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    igoogle (will be discontinued later this year)
    seekingalpha
    marketwatch
    fast money on cnbc

    That being said, I'm trying to pay less attention to the news because:
    a) it's too depressing
    b) it features too many "experts" who are unqualified to render an opinion, have a secret agenda and/or are poorly informed
    c) it doesn't help my trading--it actually hurts it because it makes me want to make "logical" decisions when the market is completely irrational

    Forget the news--read the charts.
    May 9 11:36 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I guess Ross Perot was right about the "sucking sound."
    May 9 11:28 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    It's the same excuse he used for not prosecuting the bankers. It would use up too much of his precious resources to fight the appeals--resources that could be better put to use busting people selling an ounce of pot. Boy, for a Socialist/Marxist, Obama seems to appoint a lot of people who bend over backwards for the bourgeoisie and stand ready to shaft the proletariat at every opportunity.
    May 9 11:25 AM | 5 Likes Like |Link to Comment
  • Why 'Dr. Doom' Is Buying Stocks (Why I Will Wait On Stock ETFs) [View article]
    Frankie, that was a much better analysis than the original article. Traders like to say they don't make predictions, but they do. Unless you're flipping a coin, if you're long, you're predicting the market is going to continue to rise; if you're short, you're predicting the market is going to continue to the downside. Whether it's using price action, indicators, fundamentals, the shape of clouds or the phase of the moon, every time you trade you're making a prediction. Even price action doesn't happen "now." It happened in the very recent past. If you predict correctly, realizing more profits by predicting the right direction than realizing losses in the wrong direction, then you have an edge. If you're trading randomly, money management won't give you much of an edge, if any.
    May 1 11:40 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    WFC did "28.8% of all home loans issued last year." Presumably none of those loans remained in their own portfolio. Surely we can trust WFC to maintain the highest quality standards even though they eliminate their risk as quickly as they take it on. They're bankers, right? Of course we can trust them. What could possibly go wrong?
    Apr 3 12:29 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    James, I believe the guy who washes Obama's car is paid $100 million a day, and he is the lowest wage employee out of the 190 people who maintain the limo. This trip to Israel is going to cost around $6 Trillion.

    I'll bet my post will be used as the reliable source for a Fox News expose on this topic. ;-)
    Mar 21 10:18 AM | 4 Likes Like |Link to Comment
  • QE Hides In The Shadows [View article]
    Seth, don't you think they are just delaying the inevitable? Is this really about the economy or about concealing the depth of the crisis to keep the big bankers and politicians out of prison?
    Mar 20 09:43 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I agree, Rich. Plus, anybody who suggests being poor is a strategy to live some kind of dream life by design has never spent much time around the poor. I don't know about Cypress, but here in America, if you don't have a job and are living off government assistance, you have plenty of incentive to get a job. Yet these mythical "lazy people who don't want to work" are blamed for all of the ills of our society. Not the politicians, not Wall Street, just the people who never benefited much from living in this society.
    Mar 18 12:25 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Gold is set twice daily by five banks via teleconference and silver by three institutions." This illustrates a major flaw in the rationale of the gold bugs and preppers who believe gold is a stable store of wealth regardless of what's going on with the rest of the economy. In a zombie apocalypse scenario, gold isn't going to buy much at all. Gold serves no useful purpose. Water, food, fuel, cloth and bullets would be better. People will want those. Big tacky gold chains? I don't think so. Under "normal" circumstances, gold goes up, gold goes down. Whether it's the result of manipulation or just the market at work, it's just a commodity--nothing sacred or magic about it. The banks control currencies and the banks control precious metals. They also control the government. Nuf said.
    Mar 14 09:48 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    If they privatize social security, they're going to get a quick education, the hard way.
    Mar 12 12:26 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I think it's a very safe bet to say most of the members of Congress do not understand the issues. That's what is so frustrating about this situation--they are making decisions that will affect us for generations, knowing nothing other than what their consultants and minions tell them. It wouldn't make a difference if they did understand, because the politicians, and especially their consultants and staffers, are just robots, being operated by remote control. The lobbying firms actually write the laws. The politicians don't even read them, and that's not an exaggeration. They have more important things to do, like fundraising.

    The citizens are just obstacles, annoying pests who need to be deceived and confused, so the politicians can do their masters' bidding without interference. The lobbyists are very good at their jobs, in complete control of the echo chamber, where, strangely enough, many politicians gain what little understanding of the issues they are able to glean. That's why Carl Rove literally could not believe Romney lost the election--he spent too much time watching himself on Fox News, placing faith in the talking points while ignoring the facts.
    Mar 12 12:24 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Sadly, a handful of Senators can kill any attempts at reforming the banking system. A handful of Senators who have not yet been utterly corrupted, like Senator Warren, cannot do anything other than make noise. I hope Senator Warren makes as much noise as possible, appears on all the Sunday talk shows, Fox News, MSNBC and the Daily Show (where a lot of people get their news exclusively, sad to say). Maybe then people will finally wake up and see they are the victims of the largest conspiracy and heist in the history of the world, and it's still going on unimpeded, no, AIDED, by the people who are supposed to be protecting us. But I'm not going to hold my breath.
    Mar 12 12:07 PM | Likes Like |Link to Comment
  • New Fed Data: Economy Drowning In Federal Debt [View article]
    Not to mention the fact that the banking crisis is not over. It has not been resolved and apparently will not be resolved until there is another meltdown in the banking industry. The constant whining of the big bankers notwithstanding, they are still running wild and need to be corralled before they implode again, taking the rest of the economy with them (again). They need to be broken up and we need real reform, not Dodd-Frank---Glass-Ste... The Fed is out of bullets, and their bullets were pretty ineffective anyway. I think that's pretty obvious to most of us. The only people they helped were their fellow bankers and the politicians who should be sharing their cells. I'd say whether companies and consumers *might* end up paying more or less in taxes is a rather minor consideration compared to the threat of massive unemployment, massive foreclosures, massive homelessness, destruction of pensions, 401k's, etc., i.e. Great Depression II. Money printing won't be able to fix those problems.

    By delaying the inevitable, the collapse of the big banks, all the Bush/Obama administrations, the Fed and Congress did was make things worse, especially considering that re-regulating the banks was not part of the deal for bailing them out. If somehow the Fed is able to pull off this hat trick, fixing the economy and stabilizing the banking system, without Joe Six Pack noticing how his pockets were picked in the process, it will be a bona fide miracle. Hey, they're looking for a new Pope--maybe Bernanke?
    Mar 11 12:03 PM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So now "breaking up all banks into retail and investment-bank activities," i.e. going back to the system that prevented a banking industry meltdown for 60+ years, is "punishment?" It's a shame that America is not leading on this issue, especially considering our culpability for letting the banks run amok.
    Mar 11 11:20 AM | 3 Likes Like |Link to Comment
COMMENTS STATS
103 Comments
303 Likes