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a skeptic

a skeptic
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  • The wealth gap is an essential driver of entrepreneurial creativity, and there’s no way to reduce it unless we want to strangle progress, John Tamny writes. "Wealth at the far end of the income curve [has] distracted us from realizing how much better we live thanks to wealth creation, and how much better off we are in relative terms owing to individuals pursuing innovative ideas."  [View news story]
    how does one determine what wealth gap is just right?
    Jul 20, 2010. 10:00 PM | 1 Like Like |Link to Comment
  • Most of the developed world is pretty much in line when it comes to income distribution, but not the U.S., Brett Arends asserts, where the results are more in line with Zimbabwe, Argentina and El Salvador. The average Fortune 500 CEO pockets $10.5M a year, more than 300 times the average worker's pay.  [View news story]
    and will you be the one to create something innovative to better society in such a manner that you are able to be compensated richly for it? If not, why are you complaining about those who do?
    Jul 20, 2010. 09:56 PM | 3 Likes Like |Link to Comment
  • Greg Mankiw ponders: Is the U.S. undertaxed?  [View news story]
    Absolutely!!!!!
    Apr 4, 2010. 03:05 PM | 2 Likes Like |Link to Comment
  • Greg Mankiw ponders: Is the U.S. undertaxed?  [View news story]
    He didn't say any form of taxation is stealing. He said:

    "Any amount of tax imposed involuntarily, is stealing."

    I think it's all about getting a say in how you get taxed. What's our return on our tax money?
    Apr 3, 2010. 08:12 PM | 1 Like Like |Link to Comment
  • Hawkish Thomas Hoenig of the Kansas City Fed details his dissent: He says megabanks "should be broken up" - as the big four (BAC, JPM, C, WFC) now hold assets equal to 52% of the nation's annual output. And he criticizes interest-rate policy: "When you guarantee a zero rate, you guarantee a spread to Wall Street or to others, and you encourage speculation."  [View news story]
    Elect this man for president! lol He might not do anything else right (because I don't know much about him) but at least we know he understands the concept of risk!
    Apr 3, 2010. 12:16 PM | 3 Likes Like |Link to Comment
  • Daniel Indiviglio has some problems with the government's foreclosure-prevention overhaul, but not with one part: the principal reduction piece, and he's got four reasons why it's smart.  [View news story]
    no no, our policy makers are prudent and responsible it's just their goal (re-election) is different than yours (lower taxes). They are pandering to the majority of the November lever pullers. If only we could tie the country's fiscal well (balance sheet) being to the politicians stay in office, kinda like executive compensation if you will were the compensation is not getting sh*tcanned during November. I wish Ross Perot was running for office again, I wanna see those pie charts now!!!!
    Mar 29, 2010. 10:47 PM | Likes Like |Link to Comment
  • What's So Bad About the IMF Supporting Greece? [View article]
    One more problem to add to Greece's list: credibility. They hid their problems until there was no more time or room to bluff. Why should Germany fold to Greece? Whose to say Greece won't do it again?
    Mar 20, 2010. 01:34 AM | 1 Like Like |Link to Comment
  • The Velocity of Money and Its Implications [View article]
    and how do you know that none of those larger banks that you say hold the lion's share of the loans are on the "problem list"? Are you an FDIC insider because last I heard the problem list was held close to the vest by the FDIC.
    Mar 15, 2010. 10:34 AM | 4 Likes Like |Link to Comment
  • The Velocity of Money and Its Implications [View article]
    Insolvent:
    www.fdic.gov/bank/indi...

    Approaching insolvency:
    blogs.forbes.com/stree.../
    Mar 14, 2010. 05:19 PM | 2 Likes Like |Link to Comment
  • Curious reporters from the Planet Money podcast pool their cash to buy a piece of a toxic asset - and plan to track it, like a Tamagotchi-style pet, until it dies.  [View news story]
    No, I was asking bbro for a source. I want to see some numbers that support the 94% number he cited. Apparently I didn't hit the right reply button :-(
    Mar 13, 2010. 11:26 AM | Likes Like |Link to Comment
  • Curious reporters from the Planet Money podcast pool their cash to buy a piece of a toxic asset - and plan to track it, like a Tamagotchi-style pet, until it dies.  [View news story]
    Source?
    Mar 13, 2010. 02:52 AM | Likes Like |Link to Comment
  • How to Profit From the Rising Dollar [View article]
    This heathen wants to know if there are enough gold coins (in various denominations I might add) in circulation to support commerce in a dollarless world. After all there are many people wishing to purchase goods and services and I am pretty sure all goods and services can easily be paid for in gold coins e.g. a gallon of milk or gas.

    This heathen also wants to know how all the common folk will detect counterfeit coins. I am guessing there are no watermarks, special threads that illuminate under UV light or other countermeasures that resist counterfeiting. Coin artwork and corrugated edges could be easily duplicated at a metal fabrication shop with reverse impressions. I suppose you could say Archimedes principal but that would require everyone to know the volume of water that should be displaced for each coin type in circulation and be knowledgeable enough to apply the principal.
    Feb 28, 2010. 11:37 PM | Likes Like |Link to Comment
  • How to Profit From the Rising Dollar [View article]
    I think if the dollar is rebuked as an acceptable means of payment people (at least domestically) would fall back to a more common use of bartering. In some cases people short on money are bartering services and good today. You can find evidence of this on craigslist. I with some of the other posters, using gold a form of payment probably won't cut it. Might not be enough gold to go around to represent all the goods and services that could be bought. You have the issues of debasement and shaving of the coins or clumps of gold or whatever metal you want to use. How will the common folk detect and protect against this?
    Feb 28, 2010. 06:41 PM | Likes Like |Link to Comment
  • How to Profit From the Rising Dollar [View article]
    Not saying you are wrong about the dollar going up but I do take issue with your comparison of what happened to the markets when Lehman went bankrupt and what would happen if Greece defaults. My reasons are:

    1) During Lehman's bankruptcy it's assets were worth 639 billion dollars and it's liabilities were 613 billion dollars and Greece's GDP was 131 billion dollars in 2008 and their debt was close to that amount. So these two entities aren't comparable in that regard at all.

    2) I would argue that Lehman Brother's was more connected to more entities across the world than Greece. In other words more people held debt or had some other direct interest in Lehman Brother's than people who have a direct financial relationship with Greece debt or assets.

    Just my 2 cents
    Feb 28, 2010. 02:08 PM | 1 Like Like |Link to Comment
  • Deploring a lost decade for U.S. stocks, Jeff Macke wonders: What if equities are dead?  [View news story]
    I think an argument could be made that it "at least" goes back to the New Deal. Still paying for that "deal" as we speak.
    Feb 23, 2010. 11:59 PM | 1 Like Like |Link to Comment
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