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Michael Clark

Michael Clark
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  • Dow 10,000: Show Me the (Real) Money [View article]
    "The Federal Reserve should think twice before trying to play god with the market. That position is a very demanding one and demands foresight and unlimited power. The Fereral Reserve is clearly lacking in both. "

    Amen.
    Oct 18, 2009. 08:25 AM | 4 Likes Like |Link to Comment
  • Elizabeth Warren: 'Big Banks Always Get What They Want' [View article]
    The longer we wait to address these ills, the more radical the solutions become.
    Oct 18, 2009. 07:57 AM | 3 Likes Like |Link to Comment
  • Ireland's Next Stop Could Be IMF [View article]
    If Ireland is near, can Spain be far behind?
    Oct 18, 2009. 07:49 AM | 1 Like Like |Link to Comment
  • The Underlying Size of U.S. Economy [View article]
    Pain now. The Party is over. Let's pay for our sins. Let's not make our grandchildren pay for our cowardice.
    Oct 18, 2009. 07:48 AM | 4 Likes Like |Link to Comment
  • Which Is It: Inflation or Deflation? [View article]
    I'm in the Deflation camp. The recovery can only continue if central banks keep printing and keep giving money away. They can't do that for ever. The global economy will have to stand on its own merits at some point. And its not ready to do that.

    Printing money to fund a recovery is like taking viagra to fund a teenage facsimile of a love life -- it's fun for awhile, but then it simply kills you.
    Oct 18, 2009. 07:44 AM | 3 Likes Like |Link to Comment
  • Bullishness at Contrarian Extreme [View article]
    Sudden events can change everything. But my charts currently do not show any indication of a change in trend. I know this is a fake 'Viagra Rally'. But as long as Ben is supplying the Viagra, the markets all go up. It is interesting that Alan Greenspan seems to be distancing himself a bit from his disciple, Uncle Ben. I wonder when doubt will begin to creep into to Uncle Ben's psyche? Or, to put it another way, I wonder when the civil war among the Fed governors will erupt, showing the 'inflate forever' ideology of the Ayn Rand followers begins losing its grip.

    More disagreement among Fed governors is a good thing. Perhaps sanity will come out of this disagreement.
    Oct 18, 2009. 07:41 AM | 4 Likes Like |Link to Comment
  • American Austerity Is About to Begin [View article]
    Raise interest rates and we will have both the austerity that is needed and the higher savings rate. We will have the pain of a massive contraction and higher bankruptcy -- but we will begin to confront the truth about the orgy we have just been through, engineered by the financiers and gladly embraced by most Americans.

    We cannot get to the other side without embracing the truth (and suffering the pain associated with that truth). This administration is just stalling, pretending that Judgment Day can be put off. The longer Judgment Day is put off, the longer it will take to re-create America, with a new ethic and a new productivity.
    Oct 18, 2009. 07:34 AM | 40 Likes Like |Link to Comment
  • $1.4 Trillion Federal Budget Deficit: Where Do We Go from Here? [View article]
    My thesis is that the depression started in 2001. The chart above, and the NDX (Nasdaq) chart show this to be the case. I guess a lot depends upon your definition of depression. The symbolic act of this Great Depression probably was the attack on the Twin Towers. That symbolic act of castration is one of the most literal in all of history.

    It is (masculine) power (creativity and fertilization) and the power of reason to control phenomena which declines during the Night-Cycle Dark Age.
    Oct 18, 2009. 06:40 AM | 4 Likes Like |Link to Comment
  • Dow 10,000: Show Me the (Real) Money [View article]
    Damned if we do, damned if we don't. If we are damned either way, then let's raise rates, take away the punchbowl, sober up, and deal with the mess we've made so we can try to build our way out of it and not leave the mess for our grandchildren.

    The piper is playing. Ben is pretending to be deaf.


    On Oct 18 06:28 AM damienhaas wrote:

    > Both US dollars and UK Pounds in the long term will become weaker
    > and that impact on their respective bond prices are now irreversible.
    >
    >
    > If the US and UK Government rise interest, they will cause a meltdown
    > in the Bond market and maybe sink the economy again.
    >
    > If they keep interest low, the dollar and UK pound will continue
    > to fall and standard of living will fall. That will in turn reduce
    > the consumer spending power for both nation. In this case, China
    > will also in big trouble(who shall they export to with EU themselves
    > have their consumer problem?).
    >
    > So damn if you do, damn if you don't do
    >
    > Look like this time we really need a serious Contingency planning!
    Oct 18, 2009. 06:36 AM | 18 Likes Like |Link to Comment
  • Obama lashes out at health insurers in his weekly radio address, calling their efforts 'deceptive and dishonest.' "For decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us," he said.  [View news story]
    I agree with you. What kind of society puts the right of the individual to become rich (without many ethical guidelines, for the rich own the lawyers and the politicians, that's how they become rich) over the right of the society in general (the family) to receive good, reasonably-priced healthcare? I love America. But I think this deification of individual success over social well-being is shameful and religiously and morally unacceptable. This is the definition of sin; and greed is the greatest of sins in my mind.


    On Oct 17 07:55 PM Fourpenny Guy wrote:

    > The easiest solution in dealing with Healthcare in general, and the
    > insurers in particular is to nationalize healthcare and eliminate
    > private insurance. I am reminded of the first and only time Lenin
    > allowed the Russian Congress to meet. He simply dissolved the congress.
    > Healthcare is a right, not a choice, not an economic poker chip,
    > and along with Energy and Finance, should be heavily regulated, if
    > not outright nationalized.
    >
    > Yes, nationalized healthcare is socialism, but, so what? Private
    > options lead to expense and uninsured Americans. The public option
    > would lead to full insurance, access to the healthcare Americans
    > deserve, and less wasteful discussion over cost and access. If Obama
    > is socialist, so what? Socialism does work in Europe and can function
    > in the US.
    Oct 18, 2009. 06:29 AM | 2 Likes Like |Link to Comment
  • Obama lashes out at health insurers in his weekly radio address, calling their efforts 'deceptive and dishonest.' "For decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us," he said.  [View news story]
    Health-care is NOT broken? Come on. Nearly 60% of personal bankruptcies this year were connected to medical catastrophes -- many of the bankruptcies came for patients who were insured. Insurance didn't cover what they should have.

    Business executives site the cost of health-insurance premiums as one of the reasons they've either gone out of business, or, where possible, shipped manufacturing jobs overseas, to avoid the health-care benefit for workers.

    Let's not be blind. Let's not defend the status quo just because of its power. Should a medical catastrophe send a family into bankruptcy which destroys a family financially -- just so we can continue creating billionaire doctors, drug company CEO's and insurance executives? My answer is NO. Most of the countries of the world also say NO. We are so fascinated with the idea of 'individual opportunity' and individual destiny that we have lost track of the idea of social cohesion and a family of social values. That's why our economy is failing. We're top-heavy. Too much weight at the top; not enough at the bottom. It's time to prune the tree again; and start over.


    On Oct 17 10:53 PM T.Geiger wrote:

    > On Oct 17 09:55 PM bricki wrote:
    Oct 18, 2009. 06:25 AM | 2 Likes Like |Link to Comment
  • Obama lashes out at health insurers in his weekly radio address, calling their efforts 'deceptive and dishonest.' "For decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us," he said.  [View news story]
    You are right. I really do not understand the fury with which people insist on protecting the medical cartel's right to steal as if it was the same as the right to bear arms.

    "I will turn my back on my rich doctor friends, and my rich drug lord friends, and my rich insurance agent friends, when the pry my cold, dead finger off the trigger of my gun."

    The Drug Cartel is America is a ruthless powerful mafia that needs to be broken down and reconstructed for the sake of business and American consumers. I defend the status quo, no matter what it is, needs to be re-examined. It is NOT the American Way to allow the rich and powerful to cheat and steal and to accept it because of some loyalty to tradition.


    On Oct 18 01:05 AM bricki wrote:

    > Attempts at whitewashing the facts don't alter the picture.
    >
    > The US is 29th in the world in infant mortality. Whatever measurement
    > variations you propose won't make it look good.
    >
    > You might find an argument that the decrease in US height measurements
    > is not significant. However is irrefutable that West Europeans are
    > have surpassed Americans in average height.
    >
    > Life expectancy in the US is declining. Not significantly in aggregate
    > country wide numbers but definitely in certain regions and populations
    > like poor women.
    >
    > You can attempt to blame the states for the problems but in fact
    > the states with the most aggressive regulations often have the best
    > results.
    >
    > The current system is broken. 20% of the population is inadequately
    > protected. We have huge unfunded liabilities.
    >
    > Entrenched private insurers have failed to offer any alternatives.
    > All they are doing is fighting to retain their status quo. That is
    > not going to fix the problem.
    Oct 18, 2009. 06:17 AM | 2 Likes Like |Link to Comment
  • Obama lashes out at health insurers in his weekly radio address, calling their efforts 'deceptive and dishonest.' "For decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us," he said.  [View news story]
    This is your opinion, of course. Most of the nations of the globe view it differently -- and many Americans also view it differently.

    Actually, the growth in costs of lawyers and malpractice insurance is quite small compared with payment to doctors and premiums paid to health insurance companies.

    The medical cartel has been robbing us for decades. Let's pop the bubble and start all over again.


    On Oct 18 05:56 AM Karen Consumer wrote:

    > Healthcare is not a right. Healthcare is an expense just like transportation,
    > utilities, etc. How much you spend is up to you. Yes, there are
    > those without insurance. But if you are sick (and I don't mean with
    > a headache, I mean truly ill) you can go into any hospital in America
    > and be treated first, then asked to pay later. If that were not
    > true, we would not have pregnant women crossing the border in El
    > Paso, Laredo, Brownsville, etc, to come have their children here.
    > If you're in a car accident, the paramedics don't demand proof of
    > insurance before they look at you. Parkland Hospital here in Dallas
    > County treats everyone, regardless of insurance (and even residency,
    > and I don't mean legal vs illegal).
    >
    > Our biggest health cost today isn't doctors or medicine, its lawyers.
    > The Obamacare bandwagon keeps on about "unnecessary tests and treatments",
    > but not one thing said about reducing malpractice lawsuit use &
    > abuse (like wrongful life suits when a doctor DOESN'T order every
    > test in the book and the baby is born with a health problem). It's
    > only an unnecessary test if it's negative, or right up until the
    > patient gets the condition/illness/dise... and then the lawyers rush
    > in to say the test would have prevented everything. And what is
    > an unnecessary treatment?
    >
    > Government Control + No Tort Reform = those 45 million uninsured
    > wishing they had been ignored for just one more election cycle, and
    > the rest of us regretting the next doctors appointment.
    Oct 18, 2009. 06:11 AM | 2 Likes Like |Link to Comment
  • Obama lashes out at health insurers in his weekly radio address, calling their efforts 'deceptive and dishonest.' "For decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us," he said.  [View news story]
    I'm glad Obama is finally starting to re-appear. His magic disappearing act has been hugely disappointing. There is no health-care reform unless we pop the bubble the Health-Care Mafia has so avariciously constructed for the last 20 years.
    Oct 18, 2009. 06:08 AM | 1 Like Like |Link to Comment
  • Mortgage Rates Below 5% Indicate Inflation Will Be Low [View article]
    Is there a different situation between the markets (relative free markets) determining a mortgage rate below 5% and a Monetary Czar insisting that mortgage rates say below 5% through massive manipulation of the markets? All historical comparisons are OFF because Bernanke -- the Master of the Universe -- is not letting the markets determine where money should be, he is determining where money should be. If Bernie wasn't forcing rates down with all his trillions, mortgage rates would NOT be where they are now -- and neither would treasury yields be this low.

    The whole system now is a fraud, due to a king's determination to insist that reality follow his dictates. Bernie's 'Viagra Rally' (a different form of 'cash for clunkers') is an artificial high -- and we don't really have a lot of good historical data for artificial highs. We've had Chairman Mao's in the Fed manipulate markets through Fed Funds manipulation -- but we've never had a Chairman print money and give it to his friends to buy a stock market rally and use his own apparently unlimited account to buy every TBill and TBond that no one else is willing to buy, simply in order to present a good face to the public and also to keep interest rates from rising.

    None of the standard historical indicators work in an environment that is so artificially constructed. The World According to King Ben. Obama step back. The real King is saving the world for the rich and famous.
    Oct 18, 2009. 06:06 AM | 2 Likes Like |Link to Comment
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