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Neil459

Neil459
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  • Investment Advice for the Rule of Awe [View article]
    "But Obama speaks so much better than Bush! It can't be that bad." says all of the unemployed auto workers, traders, and finance geeks.
    May 28 08:28 AM | Likes Like |Link to Comment
  • It's hardly surprising that tax receipts are down, given the economic slump. But 34% is staggering, and prompts the question: What does this imply for the federal budget?  [View news story]
    That is until we elect politicians that will actually cut spending, unlike the current crew of both Democrats and Republicans.

    On May 28 02:29 AM Mr. Ed, Jr. wrote:
    > Taxes will have to be raised to make up for the shortfall in tax
    > revenue. That is how it goes.
    May 28 07:59 AM | Likes Like |Link to Comment
  • Far-fetched claim of the day: Marc Faber says he's '100% sure' the U.S. will enter hyperinflation approaching Zimbabwe levels because of Fed reluctance to raise interest rates.  [View news story]
    Bernanke, what a joke.
    May 27 03:25 PM | Likes Like |Link to Comment
  • Investors still need the SEC. "Even if the SEC has sometimes looked like the Keystone Cops, it is still the one agency charged with protecting investor interests, as opposed to, say, insuring the stability of the financial system."  [View news story]
    No we need an agency that enforces insider laws for its own employees to prevent the wholesale destruction of what is left of our free market system. I say close it down and start over, it can't be any worse. Then put a few simple rules in place. Never ever hire anyone that has worked at the top 10 banks, top 10 investment houses, or top 10 trading firms. Make sure all employees have police investigative training, then pay them well.

    But that would be too simple and solves the wrong problem. The problem solved by the SEC is protecting the top politicians, banks, investment houses and trading firms.
    May 27 03:02 PM | Likes Like |Link to Comment
  • U.S. AAA rating is not in jeopardy, Moody's says. Despite the rising debt load (did someone say $100T?), America's diverse and resilient economy, strong government institutions, high per-capita income, and central role in the global economy should allow it to emerge from the crisis "without major impairment."  [View news story]
    No, we first must acknowledge that there is a reason why we have been the most successful country since our founding and the reason is our Constitution. Giving up our freedoms just to appease a voters misplaced sense of risk is far more dangerous. There is a reason why capitalism has produced so much wealth. It gives people the chance to find a novel way to solve problems. When you eliminate the risk of people taking advantage you also eliminate the benefit. Without capitalism the chances that many of our modern conveniences would have been invented are slim to none.

    What failed here is our government, and it failed because American citizens are so comfortable that they can afford to vote based on the Green, marriage, race or other candidate instead of the candidate that will keep us safe and prosperous.

    On May 27 12:54 PM bricki wrote:
    >. . .we must FIRST acknowledge that there is no free lunch
    May 27 02:47 PM | Likes Like |Link to Comment
  • Steven Pearlstein wants to see the Fed stripped of its role in supervising banks: "It saw how so much risk was being transferred from the banks to the shadow banking system... and it did nothing to stop it or the regulatory arbitrage that lay behind it. It has never acknowledged that failure, never apologized for it and continues to rationalize its behavior with all the 'perfect storm' nonsense."  [View news story]
    "overwhelming ignorance" is the key. Until the "people" wake up and stop voting based on listening to politician's lies and instead look at what they actually do, we are going to be in a world of hurt.

    On May 27 01:32 PM HCSKnight wrote:
    > Sadder still than the failure of the cabal of politicians and regulators,
    > the overwhelming ignorance of the people of the United States in
    > regard to the institutions which govern.
    >
    > Idiocracy...
    May 27 02:33 PM | 1 Like Like |Link to Comment
  • Job cuts in the financial sector have gotten so bad that some unemployed workers are offering to work for free.  [View news story]
    I wonder, it must be that they can afford to work for free!
    May 27 02:28 PM | Likes Like |Link to Comment
  • U.S. AAA rating is not in jeopardy, Moody's says. Despite the rising debt load (did someone say $100T?), America's diverse and resilient economy, strong government institutions, high per-capita income, and central role in the global economy should allow it to emerge from the crisis "without major impairment."  [View news story]
    It would be politically incorrect to infer that the our fearless leader is either continuing or embarking on a program with significant financial downside.

    Moody's is already in the cross hairs for its ratings anyway.
    May 27 12:13 PM | Likes Like |Link to Comment
  • Economists are trimming their outlook for the U.S. economy despite recent 'green shoots,' with H2 looking increasingly soft. "Economists look for the recession to end soon, but that the economic recovery is likely to be considerably more moderate than those typically experienced following steep declines," NABE president Chris Varvares says.  [View news story]
    An economist is someone who believes that past numbers predict future human behavior?
    May 27 11:10 AM | Likes Like |Link to Comment
  • Sign of the times: Costco (COST) to begin accepting food stamps. "In the past, we have not been convinced that there was sufficient demand among our membership to justify the expense and possible inefficiencies associated with accepting food stamps. However, we are mindful that many of our fellow citizens are facing unprecedented economic challenges at this time, and it seemed to us that it was worth reconsidering our position in that light."  [View news story]
    In another year or two we will all be paying with food stamps so it looks like a good move for Costco.

    Disclosure: Long Costco.
    May 27 09:09 AM | 1 Like Like |Link to Comment
  • How to gauge the impact retirees returning to the workforce is having on unemployment?  [View news story]
    No, I think all politicians will behave badly given the chance. While I had some problems with Bush, the Obama solution is going to be much worse because none of the media is critical of Obama. As to Republican versus Democrat, most Republican's are just Democrats in disguise and all are driving to a socialists solution.

    There I said it, just for you, anarchist.

    On May 24 12:27 PM anarchist wrote:
    > I love it when these Bush apologist blame Obama for the financial
    > crises, well at least Neil didn't toss in the word "socialist".
    May 26 02:27 PM | Likes Like |Link to Comment
  • Where's the Government's Straight Talk and Transparency? [View article]
    If you believed "straight talk and transparency" from a politician you must have been born yesterday. It never happens once they get into office. The real problem here is the lack of oversight of the government. The media are too busy drooling to pay attention. So we are in for a rough ride.
    May 24 01:55 PM | 1 Like Like |Link to Comment
  • How to gauge the impact retirees returning to the workforce is having on unemployment?  [View news story]
    I guess these retirees just don't get it. Obama, "The government is going to take care of you. Trust me."
    May 24 10:13 AM | 2 Likes Like |Link to Comment
  • Federal inspectors find high-level officials from the Office of Thrift Supervision played a direct role in allowing thrifts to inappropriately backdate capital contributions.  [View news story]
    Before long we will have no method of uncovering government fraud. Once the news organizations are bailed out by Obama, they will never be allowed to find this stuff.

    Had this been uncovered next year the federal inspectors would have be fired for embarrassing Obama. Right now it can be blamed on Bush. Don't expect to see much more of this.
    May 22 06:17 PM | Likes Like |Link to Comment
  • Citigroup (C) is ramping up efforts to slash IT costs, and sources say it believes it can save more than $1B 2009 through a massive systems integration.  [View news story]
    This I have to see. They are ignoring maybe savings in 2010, but 2009 from changing the way everything works. Yeh, right and no way, unless there is a lot of spin.
    May 22 09:03 AM | Likes Like |Link to Comment
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