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kmi

kmi
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  • The EU debt crisis will take years to play out, Harvard's Ken Rogoff says, and warns the U.S. shouldn't get smug: "The unsustainable public debt and public expenditure is a question Europe and the U.S. will be confronted with big time over the next decade."  [View news story]
    It also appears that Europe will be forced to confront it as a result of inflexible currency adjustments for its member nations. The US, not so much...
    Jan 4, 2011. 12:42 PM | 2 Likes Like |Link to Comment
  • Roll out the welcome mat for a double-dip housing recession, these charts appear to tell us. "As declining house prices were the trigger for the biggest financial crisis since the Great Depression," Alexander Cloy writes, "it is only a matter of time until financial markets react to the new realities of house prices."  [View news story]
    Very well put, I totally agree. I don't think we can print our way out either. But I'm sure we are going to do our darndest at it.
    Jan 4, 2011. 10:04 AM | 2 Likes Like |Link to Comment
  • The office-market's recovery remains weak and the national vacancy rate of 17.6% is the highest in nearly two decades, but data suggests more companies are slowly easing their way back into the leasing market.  [View news story]
    Meh, employment and office space go hand in hand, the only example cited was one of a company consolidating space, didn't sound expansionary, if you have 16 satellite offices paying various rents and uilities etc and move them into one location that seems like a cost saving maneuver to me more than an expansionary bullish move.
    Jan 4, 2011. 09:56 AM | Likes Like |Link to Comment
  • "There's politics all over this:" Bank of America's (BAC) settlement of claims with Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) for $0.49 and $0.01 on the dollar, respectively. "My biggest complaint about the GSEs post government takeover," Barry Ritholtz writes, "is that they have been used as a back door bailout of the banks. This latest deal reconfirms that view."  [View news story]
    That may be true mike, but that doesn't mean the Geoffster is wrong...
    Jan 4, 2011. 09:51 AM | 2 Likes Like |Link to Comment
  • Roll out the welcome mat for a double-dip housing recession, these charts appear to tell us. "As declining house prices were the trigger for the biggest financial crisis since the Great Depression," Alexander Cloy writes, "it is only a matter of time until financial markets react to the new realities of house prices."  [View news story]
    This is why we are intentionally weakening the dollar, so that the number slapped on a house's for sale sign is the same as it was yesterday but the real value is lower....
    Jan 4, 2011. 09:50 AM | 2 Likes Like |Link to Comment
  • You can tie many tech advances - from the world's fastest supercomputer to many technologies powering the iPhone (AAPL) - to the popularity of video games, Andy Kessler writes. The military used to be key to driving tech leaps, but it's gaming that now makes them affordable realities rather than expensive one-offs.  [View news story]
    Video games and porn.

    Alll those 3D TVs that just aren't selling this holiday season just haven't found the right driver for adoption... I'm sure someone will think of something...
    Jan 3, 2011. 08:17 PM | Likes Like |Link to Comment
  • The state of Illinois has days to plug a $13B hole that it took years to dig, as its new legislative session begins. But a potentially bigger concern than massive defaults among states and cities is investor overreaction and the possibility of a sell-off in bonds that would lead to losses - "as bad as an actual default."  [View news story]
    Default is the only medecine for the municipal bond-underfunded budget addiciton.

    Let's get some defaults going and a collapse of munis so governments balance their budgets in a fiscally responsible way.
    Jan 3, 2011. 12:27 PM | Likes Like |Link to Comment
  • White House economic adviser Austan Goolsbee warns of "catastrophic" consequences if the new Republican majority in the House follows through on threats to reject an increase in the U.S. debt ceiling. "If we hit the debt ceiling, that's... essentially defaulting on our obligations... a worse financial economic crisis than anything we saw in 2008."  [View news story]
    There have been no wars, it's all police action and training excersizes, you must be new!
    Jan 3, 2011. 12:25 PM | 2 Likes Like |Link to Comment
  • White House economic adviser Austan Goolsbee warns of "catastrophic" consequences if the new Republican majority in the House follows through on threats to reject an increase in the U.S. debt ceiling. "If we hit the debt ceiling, that's... essentially defaulting on our obligations... a worse financial economic crisis than anything we saw in 2008."  [View news story]
    And so will a huge chunk of middle Americas wealth as they funnel it to the oligarchs.

    We need a new set of criminals in politics like we need another Katrina.
    Jan 3, 2011. 12:23 PM | 3 Likes Like |Link to Comment
  • White House economic adviser Austan Goolsbee warns of "catastrophic" consequences if the new Republican majority in the House follows through on threats to reject an increase in the U.S. debt ceiling. "If we hit the debt ceiling, that's... essentially defaulting on our obligations... a worse financial economic crisis than anything we saw in 2008."  [View news story]
    Meh, reality and history will both prove that a "spirit of compromise" was the reason for Obama's fall, hardly the opposite.

    That said, if Reps and Dems both show up looking for a fight, it'll be middle America taking it on the chin. As usual.
    Jan 3, 2011. 12:21 PM | 4 Likes Like |Link to Comment
  • Dollar General (DG) becomes the new year's first jobs creator, announcing plans to hire 6,000 workers in 2011 as part of its effort to open 625 U.S. stores. The company also says it will remodel or relocate 550 stores. (PR)  [View news story]
    Family Dollar was already expanding. Dollar stores appear to be the fastest growing retail product in the market right now...
    Jan 3, 2011. 12:19 PM | Likes Like |Link to Comment
  • The deepwater drilling ban has officially ended, but approvals to resume drilling are nowhere to be seen. Experts say oil firms won't get the green light until H2 2011 at the earliest, and will have to shell out millions in the meantime on rigs they're being forced to idle.  [View news story]
    Let's not forget or ignore that Obama was bringing an expansion to offshore drilling to the table and that it was BP/Transocean/Halliburton that pissed in the pool.
    Jan 3, 2011. 12:17 PM | 4 Likes Like |Link to Comment
  • Fearing that many are overreacting to recent good economic news, Paul Krugman believes that "even though we may finally have stopped digging, we’re still near the bottom of a very deep hole." For the next few years, even with fairly strong growth, he says the U.S. will be bogged down by unemployment rates that not long ago would have been considered catastrophic.  [View news story]
    I don't know why people seem content in having 1 in 10 Americans unemployed...

    Of course, depending which camp you live in, it's significantly higher - via those no longer on the dole, the underemployed, the young - or significantly lower - via those receiving benefits working cash jobs, the barter/cash economy, multiple part time jobbers - but at least the S&P keeps going up....
    Jan 3, 2011. 12:14 PM | 2 Likes Like |Link to Comment
  • If something can't go on forever, it will stop. Irritation over public union pay and benefits continues to fester. The reality of strapped governments having to meet these promises is clashing with resistance to further tax hikes. Taxpayers are winning some of these battles, a rare occurrence.  [View news story]
    That's a tough case to argue.

    Are you suggesting that every single union employee is an equivalent value creator to a Warren Buffett, or Bill Gates, or Steve Jobs?
    Jan 2, 2011. 09:48 PM | 2 Likes Like |Link to Comment
  • Will 2011 be the year of the option ARM default crisis? Not likely, according to Calculated Risk. He's more concerned with falling home prices and negative equity.  [View news story]
    The double whammy from a potential second "dump" may also be that a lot of REOs have been purchased by speculators/investors, and if a lot of product hits the market fast, there is likely not to be much absorption from that segment, and that may cause a super spike downwards, especially if it gets assisted by rising interest rates...

    Scary endgame scenarios!
    Jan 2, 2011. 07:10 PM | 2 Likes Like |Link to Comment
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