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  • Wall Street Breakfast: Must-Know News  [View article]
    And the two of you are quite blind.

    No one wants people on welfare forever (well, maybe Walmart), but we need realistic structural changes to get most people on the right path.

    Willpower, determination, hard work, freedom, liberty, the founding fathers, bald eagles, Jesus, and flag lapel pins all put together still don't solve structural problems.

    What all that is, is an excuse, a transfer of all the blame to the individual, when in fact the situation is far more complex than that, with lots of causes and lots of effects.

    But complexity is hard, and doesn't sway stupid, hateful voters. It's much easier just to point at the poor person and say that they're solely to blame for all the world's problems, and smugly think that you're just intrinsically better than them.

    Have fun doing the easy way -- me and my math, facts, and common sense will still be here whenever you decide you want to join us.
    Nov 21, 2013. 12:43 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    > They may possibly build a 'network', and find connections for
    > paying work.

    Again, math. This would be a wash.

    A 'network' might certainly help get you jobs for which there is already demand, but it cannot create jobs for which there is no demand. The network-having folks would simply displace the folks without a network.

    > I could spend all day coming up with things they COULD do
    > to better themselves.

    Okay, let's say they better themselves with all the things you come up with all day.

    Then what? There still aren't any jobs.

    Let's say one of them gets to be even better than YOU. And he takes YOUR job.

    Now YOU are unemployed. What do YOU do? :-)

    You'd probably do even more things to better yourself even more, then you'd take your job back. (Kudos!)

    Then that other guy is unemployed again. But the plot thickens! Then he betters himself, and takes your job again!

    Now you're unemployed again.

    This cycle could repeat indefinitely, and it might be fun to watch, but *at all times* during this little game, there's still one of you that is unemployed.

    Get it?
    Nov 21, 2013. 08:28 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    > Families are going to have to choose between health care and
    > food or rent.

    Ah yes, the false dichotomy. (Some readers probably need to look that up, so here you go: http://bit.ly/1b9TWg6)

    There's a third choice that would work quite well for most of them: they could move to an ACA-compliant plan, which is probably better than their old plan, and is often cheaper.

    And if they are having trouble putting food on the table, they will almost certainly qualify for a subsidy.

    > People are going to DIE because of Obamacare

    The only thing that will die is the lies that people are trying to tell.
    Nov 21, 2013. 08:23 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    > we will never reach such levels of employment again!

    Such levels of employment were based on free money, false housing prices, and insane derivatives -- not to mention a good bit of fraud from the top and the bottom. And it ended the only way it could.

    I'm not sure we want that *kind* of employment again, though legitimate sustainable employment at those levels would be nice.

    You should read up on basic economics, and recent history. It will help you.
    Nov 21, 2013. 08:02 AM | 8 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    History will be the judge of Bush vs. Obama for worst president in generations, and it will find you just as wrong as you usually are.

    Although, the over-50 crowded leaned pretty strongly toward Romney in 2012, so you might be on to something with the brain atrophy. ;-)
    Nov 21, 2013. 07:55 AM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    So not only do you not care (we all knew that I'm sure), but you don't even *know* either.

    Let's continue our theorization -- how MIGHT they do it if given proper incentive, such as your favorite, starvation?

    My prediction is that you still can't think of anything, at least not anything practical. But I am open to giving you the benefit of the doubt, in spite of you not doing the same of others.

    So how about it? Once properly incentivized, how "CAN" they succeed? You're obviously smarter than they are, so you should know.
    Nov 21, 2013. 07:53 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    Another bank apologist. It is quite funny how anyone can be so foolish.
    Nov 20, 2013. 09:56 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    I don't use Yahoo Finance -- although even through Yahoo's downturn, many people I know have always been quite fond of it over most other free services.

    Personally, I prefer Google finance for theoretical portfolios, but I tend to keep those somewhat simple. And I just use my broker's tools for the real thing.

    I may have to look at the newly updated Yahoo Finance app, it was getting a good bit of positive press recently.
    Nov 20, 2013. 09:35 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    > Everyone in our society CAN be successful

    Once again John I question your mathematics on this issue.

    11M unemployed people in the nation. (officially, realistically a lot more)

    4M available jobs supported by the economy's current demand.

    Tell me, how "CAN" the other 7M people be successful?

    Don't get me wrong, I would LOVE for this to be a realistic scenario, but you will have to enlighten me regarding how this might actually come to pass.
    Nov 20, 2013. 09:31 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    > The rich getting richer doesn't cause the poor to become poorer
    > and you won't make the poor rich by making the rich poor. Her
    > future is bright and limited only by her. What is so difficult to
    > understand about this?

    Nothing, on the individual level.

    It is the macro level that many seem to have difficulty grasping -- if only they were as studious as your daughter. Can she tutor some of the uninformed? I bet they would pay.

    More to the point, even *if* everyone really *were* as studious as your daughter, the system still doesn't work in its current structure, at least not for everyone, not at the same level.

    Note that for all of your daughter's new studious and hard-working twin brothers and sisters, of the ones who don't currently have jobs, only 33% of them will get jobs, because there aren't enough jobs for other 67%.

    Of the ones who apply to four year colleges, only 2 out of 3 of them will get in, because there just aren't enough slots. (http://nyti.ms/1diJogt)

    If all your new identical children magically created educations and jobs for themselves, they would still have to split the roughly $13T in national personal income among the ~200M of them, rounding out to ~$65,000 each -- a nice salary by many standards. But keep in mind that some of your new studious friends would be running successful hedge funds, performing life-saving surgeries, and architecting large-scale software, while others -- just as studious and hard working -- would be mopping floors, answer phones, and scrubbing toilets, because that work *still* needs to get done. How would that work out? That would probably be a very difficult conversation at family dinners.

    This is all fantasy of course, the reality is that *not* everyone is quite so studious, and perhaps people like you and your daughter should be grateful for the lack of competition, rather than admonishing the not so studious crowd -- because there are only so many seats at the table at the moment.

    To summarize, yes, boys and girls, "anyone" can be successful. Through hard work and determination, anyone really can -- though some certainly have it much easier than others depending on the luck of their birth among other factors.

    However, not "everyone" can be successful. Our current culture simply doesn't support that as a universal opportunity.
    Nov 20, 2013. 07:22 PM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    I still use a Yahoo email address as a backup account -- a relic from literally decades ago.

    The recent changes have been positive. Better look, better functionality. Improvements to both the web application and the iOS app.

    That said, I don't pay them a dime for these, and I still prefer Gmail if given a choice.

    I hope the advertisers like what they see, as that is what will bring the money in.
    Nov 20, 2013. 06:50 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    There's a lot of evidence to indicate that we are not likely approaching a crash.

    The market may be going up at least in part for reasons that we may not like (such as QE), but those reasons show little sign of diminishing significantly.

    Other indications of crashes are also notably not present at the moment.


    Nov 18, 2013. 12:06 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    My outlook is not necessarily rosey, but there is certainly evidence for optimism.

    By most measures, Iceland had as extreme of a crisis as the rest of the world -- arguably more extreme on a percentage basis, given its small size.

    Yet by some metrics Iceland didn't dip as deep as the rest, and is recovering faster -- for example, Iceland's unemployment never hit double digits, and is hovering around 5% now (though with a lot of volatility), unlike a decent chunk of Europe, and very nearly the United States.

    Again, only time will tell the ultimate story, but regardless, as it unfolds it is still a very intriguing experiment in accountability for banks -- a concept seemingly lost in the rest of the developed world.

    It is a tiny experiment that is not likely to scale to the likes of the U.S., but it is intriguing nonetheless.
    Nov 18, 2013. 08:51 AM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    And personally I think the opposite -- which is exactly why it's a very interesting case to watch. Sometimes things look pretty good for Iceland in spite of the baseless naysayers, other times things look like they'll be caught in the same financial terrorism as the rest of the world. Only time will tell.

    And do not presume what I do and do not read, especially not while grinning your evil grin in your hopes for the triumph all things oligarchical.

    Stick to the facts.
    Nov 18, 2013. 07:49 AM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    In global financial crisis recovery news, Iceland's approach is still one to watch:


    A brief summary of their situation here (article from 2012): http://bloom.bg/YbKdz5
    Nov 18, 2013. 07:00 AM | 5 Likes Like |Link to Comment