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ofthesilentgeneration

ofthesilentgeneration
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  • A Bubble Continues To Form In The Stock Market [View article]
    James, I for one thank you for your analysis which I think is rational and making a prediction that is (unfortunately) likely to come true. I certainly agree with you about the Fed bungling "Operation Taper." Keep up the good work; I will be following you.
    Aug 4, 2013. 03:29 PM | 1 Like Like |Link to Comment
  • Is American Capital Agency Really This Cheap? [View article]
    I am surprised (and a little worried) that none of the officers or directors of AGNC have purchased shares in the open market at these exceptionally low prices. That makes me wonder if the prices really are exceptionally low.
    Jun 21, 2013. 04:54 PM | 3 Likes Like |Link to Comment
  • A major reason for the poor economic growth over the last decade, says David Leonhardt in the NYT, is demography: the share of Americans of working age grew to 53% in 2001 from 52% in 1997. That compares with an 8 percentage increase between 1967 and 1997. With baby boomers retiring, expect that share to fall. [View news story]
    That $5,675 trillion debt was a little overstated; should have been $5.675 trillion.
    Aug 19, 2012. 05:18 PM | Likes Like |Link to Comment
  • A major reason for the poor economic growth over the last decade, says David Leonhardt in the NYT, is demography: the share of Americans of working age grew to 53% in 2001 from 52% in 1997. That compares with an 8 percentage increase between 1967 and 1997. With baby boomers retiring, expect that share to fall. [View news story]
    The federal government had a $230 billion surplus in 2000 and was on the way to paying off the $5,675 trillion public debt by 2012 when the June, 2001 tax cuts were passed. The lockbox (primary subject of the 2000 election) was broken and by 2002 the federal budget was in the hole, running a $159 billion deficit. Then the 2003 tax cuts were passed and America went on a wild spending spree that virtually bankrupted our banking system and required federal bailouts in 2008. Face it, American voters voted this on themselves.
    Aug 19, 2012. 05:10 PM | 1 Like Like |Link to Comment
  • Speaking on the issue of increased financial regulation, Goldman's Jim O'Neill asks rhetorically: “Is it really that entirely desirable to have financial stability at the expense of everything else? I sort of think you want your investment bank to be a little unstable.” - pure Goldman gold.  [View news story]
    I agree with Goldman's Jim O'Neill provided that the investment banks invest their own money and pay for their own losses.

    With the Glass-Steagall Act, we had two types of banks, the national banks and the investment banks. Citizens' deposits in the national banks were insured by the FDIC while investors equity in the investment banks were at risk. That system worked very well for sixty years.

    But then the Glass-Steagall Act was replaced by the Grahamm-Leach-Bliley Act in 1999 and when the Great Recession arrived because of reckless banking, the investment banks quickly converted to national banks so they could be bailed out by the taxpayers.

    The investment banks should have eaten their own losses.

    There is no way I want to pay for investment banks (under the guise of being national banks) gambling and losing my money and money of other depositors.

    If the investment banks want to take risks, fine ... but first, let them stop being national banks and give up FDIC protection.

    Then, if an investment bank takes too much risk and implodes, the employees and the shareholders can shoulder the entire loss.

    One of the Silent Generation
    May 25, 2012. 09:23 PM | 10 Likes Like |Link to Comment
  • House Majority Leader Eric Cantor says it's time for Americans to "come to grips with the fact that promises have been made that frankly are not going to be kept for many," and young people must "adjust" to a future with fewer entitlements. Straight talk for a change, or a betrayal?  [View news story]
    Some seniors tried to resist the spending spree. When the George W. Bush administration and AARP teamed up to try to pass the ruinious Medicare drug program in 2003, my wife and I tried to prevent it by contacting AARP and our elected senators and representatives. We warned them they were threatening Medicare with bankruptcy. They had a hard time mustering the votes to pass the humongous drug progame but pass it they did ... at 3:00 AM in the morning!! We resigned from AARP and voted against every one of our elected officials who voted for it and they are out of office. In spite of all that, the wild spending increased over the next eight years. It is our opinion that the majority of Americans were in favor of bigger spending and showed it by consistently voting that way.
    Aug 3, 2011. 09:02 PM | 7 Likes Like |Link to Comment
  • American Capital Strategies (ACAS): Q1 EPS of $0.19 beats by $0.01. Shares +4.73% AH. (PR)  [View news story]
    According to Scottrade, Dow Jones is reporting that ACAS has 1st quarter earnings of $1.21 per share.
    May 3, 2011. 04:51 PM | Likes Like |Link to Comment
  • The outlook for the global economy is "bleak" without major structural changes, former IMF chief economist Raghuram Rajan says. A widening gap between haves and have-nots is fueling a "dysfunctional" political environment, especially in the U.S. Better education is the long-term solution, he says, not governments spending more to deliver "goodies" to lower-income citizens.  [View news story]
    My grandchildren in elementary schools, some in public and others in charter schools, are being "taught to the exam" (thanks to the No Child Left Behind law). They are being assigned an incredible amount of homework ... like 3 to 4 hours a weekday night ... more homework than I ever had. Something seems wrong with today's educational system.

    Rather than use tried and true methods of instuction, new educatiional theories rule the classrooms. A generation ago, teachers taught "New Math" and I had to tutor my children in the "Old Math" to get them to understand it to the point where they could profitably employ it in their everyday lives.

    Today, my grandchildren in both the public and charter elementary schools are being taught an "equation" form of math, which makes simple mathematical operations like addition and subtraction difficult and multiplication and division almost impossible. I'm back tutoring again so the youngsters will know how to solve math problems quickly and efficiently.
    May 14, 2010. 05:06 PM | 1 Like Like |Link to Comment
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