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The Geoffster

The Geoffster
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  • Paul Ryan: Ideas for reducing poverty [View news story]
    The largest piece of the federal budget is made up of Medicare, Medicaid and. Social Security. The defence budget funds American hedgemomy and the dollar's reserve status.
    Jan 26, 2014. 01:27 PM | 2 Likes Like |Link to Comment
  • Paul Ryan: Ideas for reducing poverty [View news story]
    The solution was already given to us in the Constituton, but we blew it when we decided we would give up liberty for welfare.
    Jan 26, 2014. 12:57 PM | 6 Likes Like |Link to Comment
  • Paul Ryan: Ideas for reducing poverty [View news story]
    To follow up on a theme, central planning can redistribute wealth but has little impact on overall growth because it is anathema to liberty. In order to spur growth, millions of animal spirits must be unleashed and that can only be accomplish by dismantling central control of the economy. Neither of the major political parties wants that because it diminishes their power.
    Jan 26, 2014. 10:39 AM | 1 Like Like |Link to Comment
  • Paul Ryan: Ideas for reducing poverty [View news story]
    The only solution to income inequality is communism where the proletariat suffer equally and the apparatchiks scramble for the levers of power. Ironically, communism posits the withering away of the state. Perhaps the apparatchiks in D.C. should try that out.
    Jan 26, 2014. 10:11 AM | 7 Likes Like |Link to Comment
  • Faber sees best value in gold miners [View news story]
    I believe you are wrong on gold.
    -Faber
    Jan 25, 2014. 10:00 PM | 1 Like Like |Link to Comment
  • Faber sees best value in gold miners [View news story]
    You are correct that gold is not an investment. Its chief use was as money until politicians and their sycophant economists realized that gold imposed too much of a burden on profligacy. Financial discipline is unnecessary when you can print your own currency. With that in mind, passing on some physical gold to your children is one way to make up for participating in the profligacy.
    Jan 25, 2014. 06:17 PM | 1 Like Like |Link to Comment
  • Iran, Russia in talks over oil-for-equipment barter deal [View news story]
    Now that the sanctions have forced Iran to drop its nuclear weapons ambitions (sic), it can once again become a leading exporter of oil. The Western Powers have no appetite for war with Iran and have crafted a deal that provides them with a fig leaf while Saudi Arabia and Israel become strange bed fellows in constraining the mullahs.
    Jan 12, 2014. 06:49 PM | Likes Like |Link to Comment
  • BP spill settlement upheld, may have to pay billions more than it anticipated [View news story]
    The way the settlement administrator, Pat Juneau, has interpreted the settlement has been a windfall to claimants who suffered no economic damages and a boon to the Gulf Coast.
    Jan 12, 2014. 05:50 PM | Likes Like |Link to Comment
  • BP spill settlement upheld, may have to pay billions more than it anticipated [View news story]
    As someone commented earlier, it's all about redistribution. Louisiana might be a red state, but the ghost of Huey Long still haunts. One of my favorite musings about Loiisiana politicians is that they can't be bought, only rented.
    Jan 12, 2014. 05:04 PM | 2 Likes Like |Link to Comment
  • U.S. Unemployment Rate Falls To 5 Year Low Of 6.7% In December But Job Growth Lags [View article]
    Beware extended emergency unemployment benefits. They will eventually become permanent as politicians look for another entitlement program to placate the masses and keep themselves in power.
    Jan 12, 2014. 10:36 AM | 2 Likes Like |Link to Comment
  • BP spill settlement upheld, may have to pay billions more than it anticipated [View news story]
    The Federal Judge who approved the settlement was a former president of the Louisiana plaintiffs' bar.
    Jan 12, 2014. 10:29 AM | 2 Likes Like |Link to Comment
  • BP spill settlement upheld, may have to pay billions more than it anticipated [View news story]
    'Twas ever thus and ever thus shall be.
    Jan 12, 2014. 10:27 AM | 2 Likes Like |Link to Comment
  • BP spill settlement upheld, may have to pay billions more than it anticipated [View news story]
    Spot on bigb. BP was outlawyered by a bunch of Gulf Coast plaintiffs' lawyers. It must not have occurred to BP that people and businesses who were not damaged by the spill would file claims or that they could prove damages. In fact, the settlement agreement presumed fault if a claimant resided in the affected area. The fact that there were no actual damages in many cases was overcome by a very generous interpretation of the methodology of calculating damages. It is indeed ironic that one of the antecedents of BP that successfully ripped off Iranian oil should be similarly screwed by good old boys, local hucksters.
    Jan 12, 2014. 10:24 AM | 4 Likes Like |Link to Comment
  • Gold Is Setting Up For More Losses In 2014... And That's The Good News [View article]
    Nice charts, but they don't mean much unless you're a trader. Central Banks around the world are in control for now. Dollar hedgemomy is threatened and China is loading up on gold. Why would they need gold unless they intend to back the renminbi with it?
    Jan 7, 2014. 09:01 AM | 1 Like Like |Link to Comment
  • Precious metals off to big start in 2014 [View news story]
    What would you pay for gold jewelry? Therein lies the price discovery.
    Jan 2, 2014. 09:19 PM | Likes Like |Link to Comment
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