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2MuchDebt

2MuchDebt
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  • September Nonfarm Payrolls: +114K vs. consensus +115K, +142K previous (revised from 96K). Unemployment rate 7.8% vs. consensus 8.2%, 8.1% previous. [View news story]
    @kmi: The definition of socialism is an economic system which is substantially controlled by the government and government intervention within the system is prevalent. When I said “turning our country into a socialist nation” I was referring to the idea that we are moving in that direction away from a 100% capitalistic society. Bear that in mind as I list my reasons as you so kindly requested. 1) Welfare, including food stamps and government reliance, is at an all-time high. 2) Government regulation is getting way out of hand and exorbitant. 3) Government spending programs, most of which is wasteful in my opinion, have only increased in both breadth and depth since Obama took office. 4) The newly enacted healthcare law that requires all American's to have insurance and increases the governments influence in the healthcare system. 5) Obama's ideas surrounding income redistribution through higher taxes only on the rich. Obama is chastising the rich as bad people and trying to redistribute money from the wealthy to the poor. I’m not sure there are many other ways the government can engage in socialist activities than the ones outlined above except for intervention through majority equity ownership. We will never be a pure socialist society, but the meddling of the government in business and business activities needs to diminish.

    The issue here is that Obama thinks the government can solve any and every issue. That is my point. Is that sufficient to appease you?
    Oct 5, 2012. 12:10 PM | 5 Likes Like |Link to Comment
  • September Nonfarm Payrolls: +114K vs. consensus +115K, +142K previous (revised from 96K). Unemployment rate 7.8% vs. consensus 8.2%, 8.1% previous. [View news story]
    @ anonymous#12: I think it's hilarious that in your profile it says you value entrepreneurship, which by the way you spelled incorrectly, and yet you support Obama who is turning our country into a socialist nation. "One of the best days in America's history"? Haha... this guy has to be a person on Obama's re-election team because that statement couldn't be any farther from the truth. So Obama's helping his supporters by boosting equities? How many low income people own stocks, especially since the depths of the previous recession? And the number of American's on food stamps recently hit 46 million, a record high. I don't think the 1% is using food stamps... Unfortunately it sounds like you will vote for Obama no matter what happens. Brainwashed...
    Oct 5, 2012. 10:53 AM | 9 Likes Like |Link to Comment
  • September Nonfarm Payrolls: +114K vs. consensus +115K, +142K previous (revised from 96K). Unemployment rate 7.8% vs. consensus 8.2%, 8.1% previous. [View news story]
    The jobs report is mediocre at best. Mid 100k in terms of monthly job gains is sub-par and highlights a struggling economy, especially as part-time jobs remain elevated. It shows a lack of confidence and growth prospects, especially considering the strength of corporate balance sheets.
    Oct 5, 2012. 09:18 AM | 3 Likes Like |Link to Comment
  • Greece has until the end of November before its money runs out unless it receives the next tranche of its bailout, PM Antonis Samaras tells German newspaper Handelsblatt. Touching a German nerve by comparing Greece to the Weimar Republic, Samaras says the ECB could assist by accepting lower interest rates on its Greek debt and roll them over, while the ESM could be used to recapitalize the country's banks. [View news story]
    Money well spent. I'd rather have a big bonfire with $100 bills.
    Oct 5, 2012. 08:06 AM | Likes Like |Link to Comment
  • Sep ISM Manufacturing Index: 51.5 vs. 49.7 consensus and 49.6 prior. Prices index 58.0 vs. 54.0 prior. Employment 54.7 vs. 51.6. Inventories 50.5 vs. 53.0. New orders 52.3 vs. 47.1. [View news story]
    Housing is surging??? Sure... Okay, I'll give you that housing is moving in the right direction, but it is not surging (poor choice of words). Also note the levels we're at. Take a look at these charts and tell me housing is surging / strong. Housing has also become a smaller portion of GDP over the last few years. 30 year mortgage rates have been at or below 5% since late 2008, which by the way was more than a 40 year low! What was holding people back? Oh that's right, credit quality and lack of confidence. Credit quality is still sub-par and confidence is slowly increasing. Also, the savings rate has been in decline recently and now stands at 3.7%. Not a lot of savings to sustainably drive our GDP figures higher (especially considering our continued weak non-farm employment figures). The Fed's stance on monetary policy should make clear that our economy is not strong and surging, it's weak and limping along. Otherwise, why the need for the unorthodox and dangerous policy actions of the Fed?

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    Oct 3, 2012. 11:38 AM | 1 Like Like |Link to Comment
  • Though September's auto sales came in a bit on the sluggish side for GM and Ford, analysts still see the annualized rate of 14.9M as a bright spot in the economy. Moody's Mark Zandi notes the overall economic recovery would be "much weaker" without auto sales charging hard. [View news story]
    Depends on who's buying the automobiles; government or consumer. Also, the credit strength of the purchaser is important as well.
    Oct 3, 2012. 08:27 AM | Likes Like |Link to Comment
  • The Troika has rejected as much as €2B in budget cuts and tax reforms proposed by the Greek government, according to a finance ministry official. "The creditors are fed up with empty promises," says an official close to the Troika. "This time around the cost-cutting must be solid and proven." [View news story]
    "This time around the cost-cutting must be solid and proven." Lol. So before it didn't.
    Oct 2, 2012. 11:11 AM | Likes Like |Link to Comment
  • Sep ISM Manufacturing Index: 51.5 vs. 49.7 consensus and 49.6 prior. Prices index 58.0 vs. 54.0 prior. Employment 54.7 vs. 51.6. Inventories 50.5 vs. 53.0. New orders 52.3 vs. 47.1. [View news story]
    Strong and surging? You're delusional. The economic data is pointing to a weakening U.S. economy heading into year end. And the U.S. economy is already very weak at this point. You must be looking at U.S. economic data from the mid 1990's because if you were looking at the recent economic data and you were reasonably intelligent you wouldn't be saying "strong and surging".
    Oct 1, 2012. 10:00 PM | 1 Like Like |Link to Comment
  • Chicago PMI: 49.7 vs. 53.0 expected, 53.0 prior. Employment 52.0 vs. 57.1 prior. New orders 47.4 vs. 54.8 prior. Prices paid 63.2 vs. 57.0 prior. [View news story]
    Of course the S&P will be higher in 100+ years. That is completely irrelevant to the conversation here. Nobody is talking about what the S&P will be in 100+ years. There have, however, been extended periods of time in which the Dow Jones has remained flat or even negative. I'm not arguing that equities are going to decline significantly and stay at a depressed level, but there may be better investment choices at this point in time. Recessions can certainly occur when the corporate sector is flush with money. Many would argue we're in a recession. If we're not currently in a recession, we're close to one. There is a laundry list of reasons for our current economic stalemate. You're talking about a credit crunch/crisis, which is what occurred in late 2008 and intensified the recession but was not the initial cause. By the way, it's not just one number showing negative trends!
    Sep 28, 2012. 03:30 PM | 1 Like Like |Link to Comment
  • Chicago PMI: 49.7 vs. 53.0 expected, 53.0 prior. Employment 52.0 vs. 57.1 prior. New orders 47.4 vs. 54.8 prior. Prices paid 63.2 vs. 57.0 prior. [View news story]
    Shovel ready jobs
    Sep 28, 2012. 10:36 AM | 1 Like Like |Link to Comment
  • Chicago PMI: 49.7 vs. 53.0 expected, 53.0 prior. Employment 52.0 vs. 57.1 prior. New orders 47.4 vs. 54.8 prior. Prices paid 63.2 vs. 57.0 prior. [View news story]
    @ mickmars: I disagree with you. The Fed has been very active with monetary policy actions and yet we are still scraping the bottom with a downward trend. Monetary policy can only go so far. Reducing interest rates will not spur any growth at this point and the velocity of money has been in a downtrend since the beginning of 2008 (all that dead money the Fed pumped into the system). Fed policy has limits and people should recognize that, even if the Fed can't. The looming fiscal cliff will also negatively impact business activity since Congress doesn't seem to care about it. Businesses will be proactive to be on the safe side.
    Sep 28, 2012. 10:34 AM | 3 Likes Like |Link to Comment
  • August Durable Goods: -13.2% vs. -5.0% expected, +3.3% prior (revised). Ex-transport -1.6% vs. +0.2% expected, -1.3% prior (revised). [View news story]
    Haha, good one.
    Sep 27, 2012. 09:41 AM | Likes Like |Link to Comment
  • August Durable Goods: -13.2% vs. -5.0% expected, +3.3% prior (revised). Ex-transport -1.6% vs. +0.2% expected, -1.3% prior (revised). [View news story]
    Obama: "It's the Republicans fault". In all seriousness not a good trend.
    Sep 27, 2012. 09:18 AM | 3 Likes Like |Link to Comment
  • Netflix (NFLX) CEO Reed Hastings says Europe will be a major focus of the company over the next two to three years as he sees the company's streaming service eventually landing in nearly every nation on the planet with the possible exception of the always-problematic China. He takes on the threat of Amazon head on, noting that Netflix spends 3X what Amazon does on content to the benefit of customers and calling Amazon Prime a "confusing mess" with an algorithm that isn't as clever as that of Netflix. [View news story]
    Thanks for the post. A lot of good info.
    Sep 26, 2012. 08:22 AM | Likes Like |Link to Comment
  • Spanish austerity measures coming Thursday will include restrictions on early retirement, PM Mariano Rajoy tells the WSJ, and a new tax authority - including taxes on stock transactions? - as well as job-training programs. They'll still resist a bailout, but if debt interest rates were "too high for too long" the chances of a bailout rise to "100%." [View news story]
    I have to hand it to you Terry330. No one likes you or your asinine comments on this site and yet you still post something almost every day.
    Sep 26, 2012. 08:18 AM | Likes Like |Link to Comment
COMMENTS STATS
258 Comments
385 Likes