Marsden

Unemployment Compensation - A Solution

Wow, up another 7% today. Sky's the limit? But the government is backstopping the competition. Tough place!

Good thing I didn't sell the rest? But how can you sit on a 450% gain in this day and age? Any night now the gov't can change the rules again and take all your money away. That's what we get for living in a banana republic you know..

Misallocated Capital, "Truth In Lending" During A Bubble

Our society taxes production instead of consumption. Even the slightest hint of a consumption tax (e.g. raising the gasoline tax) is perceived as a third rail. Therefore, if only by default (but in fact, in many other ways) we reward consumption and punish production. In China they do the opposite.

See Robert H. Frank, LUXURY FEVER.

Unemployment Compensation - A Solution

Only if you have traded in all of your Mercedes for Volkswagens. Then, anything is possible.

Now, should I sell the rest of my Ford stock? It's up 300% since I bought it.

Fiscal Discipline: Endorsed by All and Practiced by None

Scottish historian Alexander Tyler:

“Democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years. Great nations rise and fall. The people go from bondage to spiritual truth, to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependence, from dependence back again to bondage…”

Winston Churchill:
"The best argument against democracy is a five-minute conversation with the average voter."

California -- the Way Out

Thanks for the correction. I'd (mistakenly) assumed it collected franchise taxes! So that's one we'd probably have to leave in existence for the time being ;)

Bogle: Investors 'Getting Killed' in ETFs

QUOTE: "most investors make bad decisions. Ok, we all get it."

That's not the main point here. The main point is that ETFs aren't doing what they say they do. Many, such as the notorious FAZ, are essentially defective and many investors are misled by their alleged mandates.

It's to Mr Bogle's credit that he admits Vanguard ETFs aren't doing significantly better than anyone else's.


On Jun 18 09:16 PM John Christy wrote:

> This is a thoroughly asinine argument. The average dollar calculation
> is interesting, but it's really just a slightly more robust proof
> of the obvious: most investors make bad decisions. Ok, we all get
> it.
>
> Does that mean ETFs are a bad idea? I have nothing but respect for
> Bogle, but it's really, really hard to not see sour grapes at work
> here. He made a fortune peddling index funds and he's clearly upset
> that others have cottoned on to the idea.

Why I Bought Wal-Mart and Sold Sears

Alas, I used to swear by both Craftsman *and* Kenmore. But lately I'm finding the names are stuck to the cheapest crap that Sears execs can (out)source, and the durability which was once a byword of those brands is no more.

Symptomatic of the current American variety of capitalism is to endeavor to sell the lowest-possible-quality product for the highest-possible price. Good for the bottom line, for a few quarters anyway.

Microsoft's Machiavellian Codec Scheme

VLC is good, capable, and flexible, and I use it. However it can't touch Winamp for features.

About MS? Google came up with "Don't be Evil" as their corporate slogan in response to MS's obvious and endless dirty pool. Now they're following right down the same path. This kind of thing happens when there's lots of money to be made.

Why I Bought Wal-Mart and Sold Sears

Sears is still in business? Where? What do they sell?

Who buys it?

Preview from Europe: Stocks Consolidate, But Financials Hit a Speed Bump

^^^
Well, that's actually hopeful. The credit-card industry meeting its final demise would be a very good thing for this nation and its addicted populace.

Sources say the Fed has been surprising banks (with the notable exception of Goldman Sachs (GS)) by demanding they raise more cash than suggested by the stress-test results.

i74.photobucket.com/al...

GM Plants Either Closing or Shutting Production

Boy, you got that right. "We're #1, don't tell us how to do anything! We know better, that's how come we're #1"

Now, what NATION does that remind you of?

Obama (Should Say) to California: Drop Dead

QUOTE: "The state now has to immediately cut spending by $21 billion by laying off 10,000 teachers, 5,000 other state workers, and shortening the school year by seven days. It will raid every city and county government for additional cash. The state will also release 20,000 state prisoners and suspend maintenance and construction on thousands of projects."

There's another way. Simply click on my instablog link above--I've listed a lot of alternatives, as well as the reason they'll never be considered.

Billions Will Die in the Impending Famine. Buy Ags

"Population control is the answer to all of these problems, which is best achieved by giving women an education, jobs, and rights, and has already worked well in Europe and Japan."

However, those are the only places where it's worked. The rest of the world (the Americas included) are skyrocketing in population. We're now about 7 Billion people and still climbing.

A Sad Coomentary on American Schools

Okay, just a typo I'm sure but you have to admit the irony's a tad rich ;)