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  • Obama's Financial Reform - A Distraction from the Real Issues [View article]
    "...President Obama’s speech yesterday was disappointing..."

    As so many of them have been lately. He is still stuck in campaign mode, with tons of "hopeful" general observations and no solutions or details.
    Sep 15, 2009. 10:45 AM | 35 Likes Like |Link to Comment
  • Why A Stock Market Crash Is Imminent [View article]
    Obama is in "talk loudly, carry a small paper stick" mode. Neither he nor the EU have a clue on what to do next.
    Mar 17, 2014. 08:23 AM | 27 Likes Like |Link to Comment
  • The Non-Stimulating Stimulus Bill [View article]
    Has anyone noticed that for the past 9 years there has been almost zero talk in Washington of actually cutting spending?
    Sep 1, 2009. 10:54 AM | 27 Likes Like |Link to Comment
  • Plenty of economists agree with Paul Krugman that today’s S&P downgrade is “no big deal,” citing Japanese long-term interest rates that stayed low even after the country was downgraded in 2002. Show of hands: How many people want the fate of the U.S. over the next nine years to approach the fate of Japan over the previous nine years?  [View news story]
    It is correct that the news is no big deal, it just confirms what nearly everyone on this site already knew.

    Krugman, of course, get the reasons all wrong.
    Apr 18, 2011. 06:36 PM | 20 Likes Like |Link to Comment
  • California - And by Extension the U.S. - Headed for Permanently Smaller Economy [View article]
    One of the major problems is that far too many people have been brainwashed into thinking that government can solve their problems.

    Actually in a way, it could - by cutting the size of government by 50% and getting the frak out of the way of progress, but that ain't gonna happen.
    Jul 7, 2009. 09:25 AM | 20 Likes Like |Link to Comment
  • President Obama says House Speaker Boehner has decided to walk away from debt limit negotiations. Earlier today, Boehner had suggested talks would continue.  [View news story]
    After promising several times to actually show what his proposals were in writing, he still has not done so after several weeks.
    Jul 22, 2011. 09:28 PM | 19 Likes Like |Link to Comment
  • Matt Taibbi: Obama's Big Sellout [View article]
    "...the President may not have been serious about reform when he picked Tim Geithner and Larry Summers as the leaders of his economic team. As smart and qualified as these two are.."

    Qualified? Hmm... Isn't Larry Summers the same guy that managed to lose something like 40% of the Harvard Trust Fund?
    Dec 13, 2009. 02:17 PM | 19 Likes Like |Link to Comment
  • Death of the Electric Car: Li-ion Batteries Too Valuable for Plug-In Vehicles [View article]
    You are missing a very major point here. " only takes 10lbs of Lithium to replace 3 tons of oil!!!..."

    That Lithium is NOT replacing anything. It is STORING the energy produced by coal plants. And the storage is far from 100% efficient. So not only do you burn more coal to produce the power, you also have a very expensive battery that will have be replaced every so often.

    Lithium itself is relatively inexpensive, though trending up by 300% or so since 2000. But the actual manufacture of the battery is a lot more expensive.
    Jan 21, 2010. 12:04 PM | 18 Likes Like |Link to Comment
  • And Bernanke Didn't Think Unemployment Would Reach 10% [View article]
    With both of those running massive unfunded debt and Medicare costing 10x as much as predicted, the idea that they have "worked" is highly questionable.

    On Nov 08 07:10 AM resetplz wrote:

    > That's OK, Republicans didn't think Social Security or Medicare would
    > work..
    > Jobs you can recreate; lives you can't.
    Nov 8, 2009. 12:08 PM | 17 Likes Like |Link to Comment
  • The Myth of Energy Breakthroughs [View article]
    We have been in the solar energy business for over 30 years, and about every 4-6 years we hear about the next great energy breakthrough of some sort. What 99% of the hypers' fail to realize is that there is a huge difference between some theoretical or lab demo and actually making it (1) doable in the field and (2) doing so at a reasonable cost.

    Doable involves a lot of things - not just can it be constructed, but also will it be at a reasonable cost, how much NIMBY will you have to overcome, and how reliable is it.

    Solar, wind, hydro, fusion, zero point energy, space beams and dozens of other possible and mythical proposals have been put forth, yet we are pretty much where we were 70 years ago for energy generating. One of the biggest problems with counting on breakthroughs is that it makes people ignore present technology on the theory that in a few years we will all have something like backyard fusion plants. The (so called) green crowd is especially bad about that.
    Mar 10, 2010. 07:08 AM | 16 Likes Like |Link to Comment
  • What role do America's lazy pupils and grossly underachieving school system play in shaping the economy? "They still find it hard to believe that all those Chinese students, beavering away at their books, will steal their children's jobs." (The Economist)  [View news story]
    "..They still find it hard to believe that all those Chinese students, beavering away at their books, will steal their children’s jobs..."

    Uhm, they are not going to "steal" their jobs - they will simply be far more qualified for them. I see a lot of denial in the comments above, but crappy US education is nothing new, it has been suspected since the 1920's, and confirmed time after time since the 1950's. Is it worse now - probably, but not much worse than 40 years ago.

    There are many reasons why this has been so, the author only touched on some of them. Probably the single biggest detriment to American education has been the teachers unions, 2nd is gutless local government, 3rd is clueless parents (mostly raised under the same system themselves). 4th is the attitudes of the kids themselves - fostered especially in the last few decades by a "dumb is cool, nerds suck" attitude.

    The DOE is a minor factor - 95% of what schools and teachers do is governed locally. All the DOE does is pour money into mandated mostly useless programs and feed the bloated school bureaucracy. It does little, if anything, to actually educate anyone.

    There is a reason why so many US companies try to get the H1B visas - it is because 2/3 of Americans are so undereducated. We have a small business, and we find it extremely difficult to hire anyone with even minimul basic skills in math or even computers (despite the fact that the current generation has grown up on computers, it is amazing how little they actually know about them).

    I could go on for hours about all the flaws, but like the thousands before me, just beating a dead horse. Nothing will get done unless a true total meltdown occurs.
    Jun 13, 2009. 10:17 PM | 16 Likes Like |Link to Comment
  • As the Dollar Continues to Collapse, Where Will You Put Your Money? [View article]
    The problem with the Armageddon (or Obamageddon) scenarios is that if the dollar becomes totally worthless, the only thing that will be worth holding is guns, booze, food, and cigarettes. And that ain't gonna happen this time around.

    Personally, I am thinking more of a Jimmy Carter scenario, in which case almost anything that would cost more in dollars, but less in other currencies would be good. That would include most commodities, real estate (selective), and foreign currencies or foreign currency demoniated stocks/bonds.
    May 25, 2009. 12:53 PM | 16 Likes Like |Link to Comment
  • Boeing (BA) CEO James McNerney on the U.S. government suit claiming the company's decision to build its 787 Dreamliner plant in South Carolina was retaliation against the unionized workforce in Washington state: a "fundamental assault on the capitalist principles that have sustained America's competitiveness."  [View news story]
    This is so blatantly petty and politically driven that even some of the Democratic congress critters are scratching their heads. This may also cause any other company contemplating a move to Washington to have 2nd thoughts.
    May 11, 2011. 06:39 PM | 15 Likes Like |Link to Comment
  • Income Redistribution Is Necessary (But It's Not Enough) [View article]
    False premise.

    Even though the rates "on paper" were much higher, the loopholes and deductions were even higher, resulting in many of the super rich individuals and corporations paying no taxes at all.
    Feb 21, 2010. 02:34 PM | 15 Likes Like |Link to Comment
  • Dick Bove: On the Verge of a Politically Driven Equity Crash [View article]
    The more I see, the more I am convinced that this administration is 100% totally clueless.

    The only question now I guess is whether to go all cash, or move it all to foreign equities.
    Jan 26, 2010. 08:38 AM | 15 Likes Like |Link to Comment