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bukdow

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  • The End of Growth In The United States [View article]
    "Your dissertation fails to realize that your so called "rednecks" happens to comprise probably 85-95% of the US population, not by accent, not by race, not by faith, but by social status."

    No, they are in that position due to lack of education, intellectual curiosity and succumbing to a life of stupid consumption. You may call me whatever you choose, the core of the problem in the US is that its entire economic existence is/was largely based on these people. Now, the world economy has caught up to the US and we are caught flat-footed with an undereducated population that thinks it deserves $60,000 a year for putting a widget on a wobbler.
    Dec 5 08:29 AM | 7 Likes Like |Link to Comment
  • The End of Growth In The United States [View article]
    I would create something akin to the CCC again. They need to be employed to the benefit of society. However, their will not warrant the inflated wages they have previously enjoyed.
    Dec 5 08:22 AM | 2 Likes Like |Link to Comment
  • The End of Growth In The United States [View article]
    The ever increasing price of oil will drive investment, money and R&D into renewable sources of energy. That will spur growth and employment. The US, nor the world, is going to fall into an abyss. Humans are enormously industrious and resilient. After the renewable energy phase of the new economy will come the space exploration phase which will be very dynamic in terms of the movement of resources and capital.

    Mind you, the days of paying some half-witted inbred $25 an hour to stand around and pick his nose are thankfully over. The new economy, by its very nature, will be populated by more educated and technologically advanced people. This in itself is going to have a massive effect on the economy. Mainly, the majority of the money will no longer be in the hands of the ignorant. Rather, it will be in the hands of the educated and those who see more sense in investing their money for themselves and their children rather than buying cigarettes, big screen TVs and large pick up trucks.

    This will also change society. The people with disposable income will no longer be beer-swilling NASCAR troglodytes. Thus, successful cities and towns will have to cater to the new income generators. Like where I live, a city that is comprised of engineers, scientists and other highly educated people earning $75,000+ a year. Its bike trails, museums, cultural events, excellent schools (that we actually invest in versus squeezing dry), etc.

    What this economic downturn is going to drive into the abyss is redneck America that has had far too large of the pie for too long.
    Dec 5 06:44 AM | 4 Likes Like |Link to Comment
  • In addition to action against Iran, EU foreign ministers are set to endorse an export ban on telecom equipment and software to Syria, and an export ban on key technology for the oil and gas sector.  [View news story]
    Good. It needs to be understood that if you want to be a part of the 21st century economy/world, you need to comport yourself as a civilized, non-theocratic government rather than a bunch of lizard-brained savages.
    Dec 1 10:17 AM | Likes Like |Link to Comment
  • CNBC has good layman explanations as to what today's central bank action means and the mechanics behind it. Essentially, the Fed provides cheaper dollar funding to the ECB, which can can then provide cheaper dollar loans to EU banks. Two points of note: the move helps EU banks lend to U.S. firms, among others, and the Fed is lending newly created dollars.  [View news story]
    Won't this help exports and thus continue to bolster manufacturing?
    Nov 30 11:45 AM | Likes Like |Link to Comment
  • CNBC has good layman explanations as to what today's central bank action means and the mechanics behind it. Essentially, the Fed provides cheaper dollar funding to the ECB, which can can then provide cheaper dollar loans to EU banks. Two points of note: the move helps EU banks lend to U.S. firms, among others, and the Fed is lending newly created dollars.  [View news story]
    Pretty damn clever. Naysayers, what say you?
    Nov 30 11:36 AM | Likes Like |Link to Comment
  • Chesapeake Energy (CHK +2.3%) remains a buyer in the Utica shale region despite increased competition from Exxon and Hess, according to CEO Aubrey McClendon. The energy concern's big play for new shale properties has left it cash-poor as it seeks partners for development. [View news story]
    All that real estate CHK is acquiring will be very beneficial soon. Buy now and then buy more.
    Nov 30 11:35 AM | Likes Like |Link to Comment
  • Chicago PMI has been leaked early ... coming in at 62.6 vs. expectations of 58.5.  [View news story]
    Sorry, sociopaths, but the economy is on the mend and I would even go so far as to say history is going to correctly give the stewardship of Barack Obama and Ben Bernanke the lion's share of the credit. Once again the "sky is falling" fools look, well, foolish.
    Nov 30 11:26 AM | Likes Like |Link to Comment
  • European leaders will need to take "urgent action" if they want the euro to survive, says Warren Buffett. The system they have is fundamentally flawed, because it prohibits countries from issuing bonds in their own currency. Unfortunately, without any like mechanism in place, the Oracle of Omaha says it's doubtful the European Union going to survive this crisis.  [View news story]
    Oof. Buffet actually has a brain in his head. Not good.
    Nov 21 07:38 PM | 1 Like Like |Link to Comment
  • A poorly kept secret, the congressional supercommittee makes it official, announcing it cannot reach a deficit-cutting deal. "After months of hard work and intense deliberations, it will not be possible to make any bipartisan agreement." The good news: no more supercommittee?  [View news story]
    You make good points. The polarization needs to stop. Rush Limbaugh needs to shut his pie-hole along with the rest of the other "conservative" shock-jocks. As well as their counterparts on the Left. They aren't conservative, they are only profiting off the emotional stupidity of the average American.

    Honestly, the people that are profiting and preying off this nonsense need to be quelled. Its gone beyond "freedom of speech" or whatever other nonsense you want to call it. It has become treasonous.
    Nov 21 07:32 PM | 1 Like Like |Link to Comment
  • A poorly kept secret, the congressional supercommittee makes it official, announcing it cannot reach a deficit-cutting deal. "After months of hard work and intense deliberations, it will not be possible to make any bipartisan agreement." The good news: no more supercommittee?  [View news story]
    Grover Norquist is a little squirt that needs to be popped like a pimple.
    Nov 21 05:03 PM | 3 Likes Like |Link to Comment
  • German Economic Minister Philipp Roesler takes the prize for the best idea emerging from the EU debt crisis: Limit the number of crisis summits. The thought won immediate applause from Dow Jones reporters, who, when asked how many emergency summits there have been this year, all responded, "No idea. Too many."  [View news story]
    Bravo. The media over reports on things in an attempt to be "newsworthy" and ends up creating mountains out of mole-hills. Then the unsophisticated investor/FOX News type overreacts to an overreaction. Throw in the VIX and you have too much worthless information being dumped on a none-too-bright group of people.
    Nov 17 08:35 AM | Likes Like |Link to Comment
  • What inflation? With CPI cooperating immensely with the Fed's dual mandate, talk on the risk of running up against the unofficial higher end of the inflation target range is calming. The Boston Fed goes so far as to tweet that the 3-year period ending with the last quarter experienced the lowest rate of inflation over any similar period over the last 30 years.  [View news story]
    Is that all I get in the 2 hour class?
    Nov 16 01:19 PM | Likes Like |Link to Comment
  • Crude oil continues to make its way higher regardless of the shakiness of world economies and financial markets, WTI pushing through $100/barrel for the first time since mid-summer. USO +0.4% premarket.  [View news story]
    Look, contrary to popular belief, the world is not going to hell. Actually, the world's economy is growing and will continue to grow and oil will be the key component. If you are not invested in energy (i.e. oil, natural gas, etc.) you just aren't getting it.
    Nov 16 09:01 AM | Likes Like |Link to Comment
  • EU officials are discussing a major overhaul of the eurozone in which one or more countries leaves and those remaining agree to deeper economic integration. "France and Germany have had intense consultations on this issue over the last months at all levels," says a senior EU source. "We need to establish ... who don't want to be part of the club and those who simply cannot be part."  [View news story]
    The influence/economic vacuum created in countries like Bulgaria, Romania, Hungary, Slovakia, Estonia, Latvia and Lithuania after leaving the EU (if indeed they did) would be filled by Russia. I don't see what is so hard to understand. So, I guess the planet I am on is "empirical reasoning".
    Nov 10 08:37 AM | Likes Like |Link to Comment
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