The Geoffster

The Geoffster
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  • U.S. Economy - How to Fix It  [View article]
    This is the same advice my family gave me fifty years ago and guess what? It worked!
    Dec 16, 2009. 02:52 PM | Likes Like |Link to Comment
  • Senate's Phony Health Care Reform Bill Doesn't Increase Economic Security  [View article]
    "Obamacare" is aptly named. The President has staked all of his political capital and much of the nation's real capital on passage of near universal health care. To get there, he has compromised principle, bribed, threatened and cajoled to get a bill, almost any bill that could pass. Damn the details. Fix the problems later. In the process, Congress has shown its true colors as the corrupt institution it is. The middle class is being destroyed, but at least there will be subsidized SSRIs to blunt the mental pain.
    Dec 16, 2009. 02:31 PM | 7 Likes Like |Link to Comment
  • The Next Leg of the Crisis: Unavoidable Catastrophe  [View article]
    Paco, you express a point of view which I happen to share, but the optimists can always point to the weight of opinion to justify their faith in the markets. Of course, much of that weight is Wall Street sales talk which overwhelms the airwaves. I am hedged for a currency meltdown, I would still have to get out in time to avoid counter party default. When the shit hits the fan, bullion and bullets will be the only way out of town.
    Dec 15, 2009. 08:51 PM | 4 Likes Like |Link to Comment
  • The Next Leg of the Crisis: Unavoidable Catastrophe  [View article]
    In the prospectus.

    On Dec 15 02:41 PM milkchaser wrote:

    > Where can I read about the problem of long-term decay in TBT?
    Dec 15, 2009. 08:17 PM | Likes Like |Link to Comment
  • Another Reason Why America's Glory Days Are Over  [View article]
    Lots of finger pointing here. Everyone's a victim.
    "Let us resolve to be masters, not the victims, of our history, controlling our own destiny without giving way to blind suspicions and emotions."
    -John F. Kennedy
    Or, if you prefer:
    “Wolves which batten upon lambs, lambs consumed by wolves, the strong who immolate the weak, the weak victims of the strong: there you have Nature, there you have her intentions, there you have her scheme: a perpetual action and reaction, a host of vices, a host of virtues, in one word, a perfect equilibrium resulting from the equality of good and evil on earth.”
    - Marquis De Sade
    Dec 15, 2009. 06:30 PM | Likes Like |Link to Comment
  • Government Action: Mission Not Accomplished  [View article]
    At this time of year, it is well to remember the words attributed to Pontius Pilate, "What is truth?" he posited to the Jewish revolutionary, Jesus. The question went unanswered.
    Dec 15, 2009. 10:01 AM | 5 Likes Like |Link to Comment
  • Strategic Default: The New Stimulus  [View article]
    "No one ever went broke underestimating the intelligence of the American public."
    -- H. L. Mencken
    Except the purchasers of MBSs.
    Dec 14, 2009. 10:19 PM | 4 Likes Like |Link to Comment
  • Not to be left out, Wells Fargo (WFC) plans to repay its entire $25B in TARP funds through a $10.4B stock offering, joining Citigroup (C) as the last major lenders out. Today's plans mean $161B of the $245B pumped into institutions through the program will have been repaid. After hours: WFC +2.2%, C +0.8%.   [View news story]
    Pay back TARP funds this year, secure bonuses, borrow back funds next year. They're too big to fail and we're too little to matter.
    Dec 14, 2009. 09:33 PM | Likes Like |Link to Comment
  • The yen may take over carry trades, as borrowing from Japan has become nearly as cheap as U.S. loans for the first time in four months. Expectations are that the U.S. economy will grow twice as fast as Japan's in 2010.   [View news story]
    What is this, a Zero Hedge test?
    Dec 14, 2009. 02:36 PM | Likes Like |Link to Comment
  • The Bubble Decade Is Far from Over  [View article]
    Yes, but can the government survive the fleecing?
    Dec 14, 2009. 11:21 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    Equal opportunity has morphed into equal outcomes. The lowest common denominator has prevailed over the meritorious. Watch your portfolios. You wouldn't want to raise the ire of the leftists by seeking alpha.
    Dec 14, 2009. 09:11 AM | 6 Likes Like |Link to Comment
  • Japan's top toymaker Bandai has released paper-thin, rose-scented bath soap that looks like the American $100 bill and dissolves to create a bubble bath.   [View news story]
    Just proves that you can put perfume on a pig but it's still a pig.
    Dec 14, 2009. 09:01 AM | 2 Likes Like |Link to Comment
  • How Obama's Capital Gains Tax Cut Would Create Tax Shelters  [View article]
    Transfer taxes have had the desired effect of creating more people on the dole. If leftists really wanted to improve the lot of the poor, inner city public schools would be educating their students.
    Dec 13, 2009. 03:40 PM | 1 Like Like |Link to Comment
  • Important Economic Indicators Suggest the Worst Has Passed  [View article]
    All is well...until the derivatives explode
    Dec 12, 2009. 07:39 PM | 7 Likes Like |Link to Comment
  • Matt Taibbi: Obama's Big Sellout  [View article]
    Maybe Obama really wanted change and just hadn't been around long enough to realize he wouldn't actually be in charge.
    Dec 12, 2009. 05:00 PM | 8 Likes Like |Link to Comment