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Michael Clark

Michael Clark
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  • Financial Greed and Christianity  [View instapost]
    Very interesting article, John.
    Nov 5, 2009. 01:26 AM | 1 Like Like |Link to Comment
  • Financial Greed and Christianity  [View instapost]
    The meaning of Jesus throwing the money-changers out of the temple was that he was marking an end to the self-serving theology of the bankers and clergy united, the 'greed is good' and the 'Earthly success was a sign of approval from God' theology that had taken over religion at the time and he was re-initiating the view that greed was not good and that Earthly success was more likely the sign of a deal with the devil than with a deal with God -- in a very real sense he was revoking the covenant.

    I guess GS is fearing the return of Jesus also.
    Nov 5, 2009. 01:25 AM | 5 Likes Like |Link to Comment
  • Warren Buffett tells the WSJ his $100/share bid for Burlington Northern Santa Fe (BNI) was his first and only offer. The man can bargain.  [View news story]
    Bargain? He paid an awful lot for the company. I guess he was paying himself, since he already owned a big hunk of BNI.

    Time will tell if it was a bargain or not.
    Nov 4, 2009. 08:53 AM | 3 Likes Like |Link to Comment
  • Sources say Berkshire Hathaway (BRK.A) has joined Goldman Sachs (GS) in a bid to buy $3B in tax credits from Fannie Mae (FNM); the credits are virtually worthless to Fannie Mae. The government, which controls Fannie, is thought to be reluctant to approve a deal that would allow Goldman to save on taxes, but taking widely-respected Buffett as a partner could reduce the tension.  [View news story]
    The thieves continue their romp. Will it never end?
    Nov 4, 2009. 08:52 AM | 2 Likes Like |Link to Comment
  • American Austerity Is About to Begin [View article]
    Clearly that is a big part of the cause -- less money to put away. Also, the fact that the Fed is attempting to punish savers and force them to invest in stocks or commodities or more houses (.25% interest is not a way to encourage saving) is enough to discourage most people from saving.

    I'd say hold on to your dollars. With HUGE deflation coming, the dollars you do hold will be worth more in 2019 than they are today.

    Inflation? We won't have another 70's type stagflation. In the 70's the public was not debt-ridden; so, in the midst of a deflation, they were able to borrow and chase rising prices spurred by banks lowering interest rates. But today, like in the 1930's, the consumers cannot take on more debt. Cheap money may be available (low rates) but not for the insolvent. What bank is going to loan more money to a massively indebted business or consumer?

    There is no way ahead except through the dire darkness of deflation, which will be good for us, bringing us sobriety, austerity, real religion again (and not the religion of the evangelists who shamefully preach for money, for the 'religious empire' of capital expansion). We have no God today, as a society. We need to go down into the wilderness so we can find God again, the Living God.


    On Oct 18 07:49 PM Old Trader wrote:

    > A number of great and insightful comments!!! Getting back for a moment
    > to the fact that savings rate is again dipping, is that possibly
    > due to the fact that real incomes are falling, and there's a declining
    > amount of money available for the average citizen to save? From what
    > I see in terms of anecdotal evidence, there are big shifts happening
    > in consumer behavior, in terms of cutting back.
    Nov 4, 2009. 08:40 AM | 2 Likes Like |Link to Comment
  • Showdown at the Federal Reserve Corral [View article]
    Very good article. Very entertaining.

    I think the whole point of Ben Bernanke's existence is his support of Inflationism as a creed. I don't see him backing up a step unless Wyatt Earp can take him down with a single shot between the eyes.

    This, of course, is what I'm hoping (and praying) for.
    Nov 4, 2009. 07:58 AM | 2 Likes Like |Link to Comment
  • First-Time Homebuyers Proliferate: What Are the Consequences? [View article]
    Buy one house, get a second one free. No money down. Government check is in the mail.

    (So long middle-class. It was nice knowing you.)

    Just what we need, another bubble. Don't the idiots in Washington comprehend what the last three bubbles did to us: internet; housing; commodities.

    Next bubbles to burst: commercial real estate (bursting); treasury bond market (poised); housing bubble (phase two)...
    Nov 3, 2009. 03:03 PM | 1 Like Like |Link to Comment
  • Where Is the Gaming Industry Headed? [View article]
    Seth: So do you buy Electronic Arts here, or is EA going bankrupt soon?
    Nov 3, 2009. 02:47 PM | Likes Like |Link to Comment
  • Gold Is Not in a Bull Market [View article]
    I think the secret as far as whitewashing the inflation figure has been to overweight the salary/income component -- with all the high paying manufacturing jobs sent overseas, and American wages moving sideways or down since 1973 -- of course it looks like there's no inflation. College tuition is up 1600% in 20 years; auto cost are up over 1,000%; housing, until recently, was obscene; medical costs ARE obscene.

    By whitewashing the inflation numbers, the Fed could keep seducing more borrowing, inflating prices further and shifting more and more money from consumers into the hands of the banks. It's a nice job if you can get it.


    On Nov 02 03:08 PM Chancer wrote:

    > If you believe there is no inlfation, you have to believe the U.S.
    > government?
    >
    > Do you believe the U.S. government?
    >
    > I believe the low (government) inflation numbers are tainted by the
    > drop in both oil prices and housing prices.
    >
    > But how about food prices? How about utility prices? How about the
    > price of about everything else we buy?
    >
    > Either the price is increasing or "they" are down sizing packages
    > and services and selling for old price.
    Nov 3, 2009. 12:57 PM | Likes Like |Link to Comment
  • Warren Buffet vs Indian Central Bank.  [View instapost]
    2010 will be the REAL beginning of the Dark Night of the Soul. The Indian master will trump the American Master, Mister Buffet.
    Nov 3, 2009. 10:46 AM | Likes Like |Link to Comment
  • Prices of investment-grade commercial real estate rose 4.4% in Q3, according to MIT CRE's transaction-based index, possibly signaling an end to the sector's year-long downward spiral. "One quarter does not a trend make and we are still well below normal trading volume," David Geltner, director of research at MIT/CRE, said. "Nevertheless, this is the strongest sign of a bottom that we've had in two years."  [View news story]
    WHAT? Is this April 1?
    Nov 3, 2009. 10:42 AM | 2 Likes Like |Link to Comment
  • Global Markets in Review: Reversal in Financial Markets [View article]
    Ultrashort ETFs making long-term bottoms. This is bad news for stock indexes.

    seekingalpha.com/insta...

    Global short ETFs (EUM, Emerging Markets) is ready to rise. Russia, Turkey, India, Indonesia indexes pointing down.
    Nov 3, 2009. 07:44 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Ultrashort ETF's seem to be making long-term bottom here. This is not good news for stocks.

    seekingalpha.com/insta...

    EUM, Short Emerging Markets Stock Index ETF, is also finally turning positive. India, Indonesia, Russia, Turkey indices are point lower.
    Nov 3, 2009. 07:42 AM | 7 Likes Like |Link to Comment
  • Tuesday Outlook: Commodities, Global Markets [View article]
    Why are Ultrashort ETFs making bottoms in their charts?

    seekingalpha.com/insta...

    Looks like the rally is over -- unless Boom Boom Bernanke has more magic up his sleeve (and unless a higher federal deficit is the way one defeats involvency).

    Boom Boom is walking a tightrope between deflation and inflation and the tight-rope is called Stagflation. We won't have the inflation we had in 1970's because Americans cannot afford to borrow all the money that's floating around today. In the 70's Americans were relatively solvent, and so they chased the bankers tail all around the block. In the 1930's and today, we have too much debt to participate in the game of 'be seduced by the banks and become a debt-slave'.
    Nov 3, 2009. 07:37 AM | 3 Likes Like |Link to Comment
  • The Stock Market Sure Isn't Dull Anymore [View article]
    Stocks sinking; ultrashort ETFs making bottoms:

    seekingalpha.com/insta...

    I guess we all know what that means.
    Nov 3, 2009. 07:24 AM | Likes Like |Link to Comment
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