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Sir. Monaco

Sir. Monaco
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  • President still at odds with House Republicans as Senate negotiates [View news story]
    gentlemen a public service announcement:

    if we go past the 17th without a deal it is not correct to say we have "defaulted"

    the correct expression is that we have "breached" the debt ceiling or that we have "breached" our debt limit

    so please help everyone else who continues to say "default" when the correct description is "breach"

    (this correction really is for the press and non-financial professionals, as I know all of you wouldn't purposefully mislead anyone by saying "default")

    thanks,
    Oct 13, 2013. 12:06 PM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Al Roman, WMARKW makes an excellent point and today's Philly Fed report is representative of this.

    I would characterize the underlying economy to those who think it is strong, as a "mirage"
    Nov 21, 2013. 10:11 AM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    oh yeah, so good economic news is bad bc the fed will supposedly start tapering,

    and bad economic news is good bc the fed will continue to QE..

    so riddle me this,

    if good economic news is bad bc the fed will taper, won't that just cause the economy to fall back to being bad which means in the end it is actually good news bc the fed will have to come back in,

    all of this is pretty dumb logic, huh?

    one thing is certain: If the economy can't survive without an elephant like the fed holding it up, well that is pretty scary and should be worrying for all investors,
    Nov 8, 2013. 09:54 AM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    what every investor should ask themselves is: Do I want to build my investment on top of false fundamentals?

    and if you do, don't complain to me when you get hurt. and if you do get hurt, I hope it is so painful that you learn your lesson.

    otherwise, I have been nearly 50% cash (on average) since a large bank CEO confirmed everything I just told all of you,
    Nov 21, 2013. 11:50 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    what if I told you that every bank's balance sheet was prone to MASSIVE LOSSES?

    you may want to tell others about this:

    so when the market crashed, banks were having to write down their mortgage loan values cause huge losses (do you all remember this?)

    it was so devastating that the accounting board changed the rules so banks could account for mortgage loans as "long-term assets" instead of having to mark-them-to-market.

    this stopped the bleeding, but has now created MASSIVE LOSSES that still have not been realized.

    if we went back to accurate accounting I estimate nearly all banks would have to take a 15-25% write-down.

    thus, the economy we currently have is not real, and if you asked any bank executive about this they will never admit it, but if you ask those who manage the books to calc the correct numbers (which uses mark-to-market) they are all toast,

    in the end, I would be extremely careful, as real estate has not gone parabolic to cover these losses, and will not for many moons,

    I know this sounds like a doomsday post, but it is the truth,

    I welcome your comments,
    Nov 21, 2013. 11:29 AM | 5 Likes Like |Link to Comment
  • Apple Beats But Treated As Second Class [View article]
    I liked to results for the quarter. Better then expected by all the analysts, and was great as they head into the holiday season.
    Oct 28, 2013. 07:53 PM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    well, now Biden has come out of the witness protection program and all the players are meeting at the white house at 3pm EST

    basically here is what will happen:

    the potus will tell the republicans "that he is not negotiating"

    and the republicans will get even more dug in to their position,

    sound pretty dumb, huh? "come to the white house so I can tell you I'm not negotiating"

    basically this is all optics for the WH so when no deal gets done he can come out and say "I have met with them and tried talking to them numerous times" and that he has "bent over backwards to work with republicans"

    just more nonsense, and they think that if Bidden says the same thing it will somehow sound better, "malarkey"
    Oct 14, 2013. 12:29 PM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    RE YELLEN:

    Unleash the Dragon!

    this is what comes to mind as I watch the Yellen testimony. This interest rate eating Dragon will take hold of us all.

    (personally I love it!....and can see huge rallies for treasuries, -yet on a fundamental basis I totally disagree with this abhorrent behavior.....furthermore, we all should be worried about the underlying economy if we need this much morphine)
    Nov 14, 2013. 12:59 PM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Does anyone actually believe the jobs number that came out?

    We have a government shutdown and people hire.

    I find it hard to believe. Feels rigged.....or the statisticians threw out a large part of the data per a directive from some higher-up....

    Anyways I along with 99% of other out there got that one wrong, (big ding to this year's annual returns, but hey still double digit positive)
    Nov 8, 2013. 09:36 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    al,

    I agree on the future outlook.

    as what haoppens to John Doe who earns 65k a year and now has to pay $2,000 more a year for his family UCA premiums?

    I don't believe the Doe's will be installing a swimming pool or eating out more come next year.

    (now multiply that by millions and millions of people)
    Nov 12, 2013. 02:38 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    gggl

    I agree with the Oil story, but can't attribute everything to this.

    my crystal ball sees higher UCA [ACA] premiums being the equivalent to a major tax hike, resulting in a lower GDP next year,

    until we get to a point where removing the fed from the economy doesn't spook equities we just really don't know what truly is holding up this economy,
    Nov 12, 2013. 02:34 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    interestingly, I see interest rates much lower before the end of the year.

    Fed Pullback = economy fails & stocks lower = causing people to seek safety = causing treasuries to spike

    IMHO

    (latest Fed stress tests may not have been tests, but rather preparations)
    Nov 12, 2013. 12:40 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    and when the unemployment rate isn't below their magic number come March do you really think they will taper then? I don't.....

    trust me this thing is going to be around a long-long-long time, just look at Japan and how long they have been at it since they started their QE,

    our economy should get worse as Obama care sets in and people are cut hours and more people are paying higher premiums,
    Oct 30, 2013. 02:45 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    BLOOMBERG: "Boehner Said Obama Rejected Fiscal Offer, Lawmaker Says"

    http://bloom.bg/17lZFc4

    and the plot thickens! - I think Obama may drive us over the 17th deadline as to score political points for next years elections.

    here's how: if we go beyond the 17th he can blame republicans for all of it and then each democrat can use the same talking points for house elections in 2014.

    the goal would be to take back the house and control both the senate and the house,

    this would be his dream to finish his term while controlling the house and the senate,

    --

    whereas the house republicans were elected last year to stand up to Obama and that's why they will not go down without a fight,

    as the DOW jumped 300+ pts on the news they were talking and were working on something, I wonder how it will react on Monday now that they don't have a deal...

    get your popcorn folks, this movie is really starting to get good!
    Oct 12, 2013. 11:29 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]

    berbno1

    I do not want to get into politics with you,

    but such remarks (by you and your counterparts) only reinforce my position that everyone is screwed on this situation,
    Oct 8, 2013. 03:18 PM | 3 Likes Like |Link to Comment
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