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The Patriot

The Patriot
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  • The wisdom of crowds - remarkably accurate when members arrive at opinions on their own - disappears when folks know what others are thinking. “The truth becomes less central if social influence is allowed,” write 2 researchers, quickly explaining how bubbles form.  [View news story]
    The NEA said too many people were getting their feeeelings hurt. Feeeeling redistribution
    May 17, 2011. 08:43 PM | Likes Like |Link to Comment
  • America's greatest threat is not the deficit or terrorism or China - it is "impotent leadership... the lack of vision... the selling out to the highest bidder in Washington," Barry Ritholtz writes. The U.S. government "has become a giant grift, populated by Jezebels and strumpets," guided only by the "endless stream of corporate giveaways, tax loopholes and bailouts."  [View news story]
    Term limits would be a good start.
    May 14, 2011. 07:58 PM | 1 Like Like |Link to Comment
  • America's greatest threat is not the deficit or terrorism or China - it is "impotent leadership... the lack of vision... the selling out to the highest bidder in Washington," Barry Ritholtz writes. The U.S. government "has become a giant grift, populated by Jezebels and strumpets," guided only by the "endless stream of corporate giveaways, tax loopholes and bailouts."  [View news story]
    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. ... God forbid we should ever be twenty years without such a rebellion; what country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms." -- Thomas Jefferson to William Stephens Smith, 1787
    May 14, 2011. 01:33 PM | 1 Like Like |Link to Comment
  • America's greatest threat is not the deficit or terrorism or China - it is "impotent leadership... the lack of vision... the selling out to the highest bidder in Washington," Barry Ritholtz writes. The U.S. government "has become a giant grift, populated by Jezebels and strumpets," guided only by the "endless stream of corporate giveaways, tax loopholes and bailouts."  [View news story]
    And yet it continues at an accelerating rate. The catalyst to change
    direction wont be pretty.
    May 13, 2011. 05:43 PM | 7 Likes Like |Link to Comment
  • Worry over U.S. budget deficits was pervasive at the Skybridge conference, but equally consistent was the notion that "right now, we're OK." Add Leon Cooperman to those able to compartmentalize: "We're heading for a crisis. I just don't know when. [But until then] equities are the best value in a bad neighborhood" - specifically, GM, ETFC, RIG, TEVA, CVS.  [View news story]
    "right now, we're OK" How many times have we heard that ??
    It will come like a thief in the night
    May 12, 2011. 06:19 PM | 3 Likes Like |Link to Comment
  • With foreclosures taking an average of 900 days to wind their way through the NY court system, it will take 7 years to clear the backlog, according to RealtyTrac. While the slow process keeps prices from falling as fast as in other states, it only promises to draw the downturn out even further.  [View news story]
    Man, dont let the cat out of the bag !!! I already can envision the internet pop-ups and billboads : )
    May 12, 2011. 06:15 PM | 2 Likes Like |Link to Comment
  • "Using the debt limit as a bargaining chip is quite risky," Bernanke warns Senators, "at minimum" leading to "an increase in interest rates, which would actually worsen our deficit and would hurt all borrowers in the economy." But a GAO report affirming the Treasury's right to prioritize interest payments over domestic spending may embolden use of the tactic.  [View news story]
    " would hurt all borrowers in the economy." As opposed to hurting
    all savers ??
    May 12, 2011. 03:53 PM | 5 Likes Like |Link to Comment
  • The folks who warn of the catastrophe of a sovereign default are the bankers and fund managers who stand to lose a lot of money. Countries fail to pay off their debt all the time, says Matthew Lynn, and Greece should get on with it. Announce a 50% haircut, suspension of interest payments, and move along.  [View news story]
    I agree, that would be the quickest way for a sovereign to get well. Their future ability to raise money through bonds would be restrained and they would be forced to reduce spending to match revenue. I think the problem is that other sovereigns and the sovereign dependents are the ones who will get the shortest haircut !!
    Apr 29, 2011. 02:29 PM | 2 Likes Like |Link to Comment
  • Fed's latest economic projections - real GDP growth: 3.1-3.3% in 2011 vs. prior projection of 3.4-3.9%, 3.5-4.2% in 2012 vs. 3.5-4.4% prior, 3.5-4.3% in 2013 vs. 3.7-4.6% prior. PCE inflation: 2.1-2.8% in 2011 vs. 1.3-1.7% prior, 1.2-2% in 2012 vs. 1-1.9% prior, 1.4-2% in 2013 vs. 1.2-2% prior.  [View news story]
    Kinda makes predictions worthless
    Apr 27, 2011. 04:03 PM | Likes Like |Link to Comment
  • Jeremy Grantham's latest essay, an apocalyptic description of a planet running out of resources, is either a wake-up call or the mother of all sell signals. One hundred years of commodity price declines have been wiped out since 2002, says Grantham, contending a similar length uptrend is now in place.  [View news story]
    Ooops, I stand corrected, +- 80 million/yr

    Globally, the growth rate of the human population has been declining since peaking in 1962 and 1963 at 2.20% per annum. In 2009, the estimated annual growth rate was 1.1%.[3] The CIA World Factbook gives the world annual birthrate, mortality rate, and growth rate as 1.915%, 0.812%, and 1.092% respectively[4] The last one hundred years have seen a rapid increase in population due to medical advances and massive increase in agricultural productivity[5] made possible by the Green Revolution.[6][7][8]

    The actual annual growth in the number of humans fell from its peak of 88.0 million in 1989, to a low of 73.9 million in 2003, after which it rose again to 75.2 million in 2006. Since then, annual growth has declined. In 2009, the human population increased by 74.6 million, and it is projected to fall steadily to about 41 million per annum in 2050, at which time the population will have increased to about 9.2 billion
    Apr 25, 2011. 10:18 PM | Likes Like |Link to Comment
  • Jeremy Grantham's latest essay, an apocalyptic description of a planet running out of resources, is either a wake-up call or the mother of all sell signals. One hundred years of commodity price declines have been wiped out since 2002, says Grantham, contending a similar length uptrend is now in place.  [View news story]
    We now have 6.8 billion people and growing by +-80 million/day !!!!
    Our resources have never had this much demand. Add in regulation,environmental concerns, and the loss of low hanging fruit.
    Its a dirty business and few welcome it in their back yards. The cost will go higher because fewer and fewer are willing to put up with low and inconsistent returns.
    Apr 25, 2011. 08:11 PM | 3 Likes Like |Link to Comment
  • Over the past month, the percentage of Americans pessimistic about the direction of the economy has jumped to 39% from 26%.  [View news story]
    I applaud your comittment, but few great events would have been
    accomplished with those actions. Sometimes, one needs to make a stand.
    Apr 22, 2011. 08:04 PM | 3 Likes Like |Link to Comment
  • It hardly matters what Geithner says when seven out of every 10 voters say they oppose raising the debt ceiling, Stan Collender writes. "This almost certainly means that most representatives and senators will need to vote against a debt ceiling bill at least once so that they have something on the record showing their constituents that they were with them."  [View news story]
    Thats probably what will happen and there will be a grand hallelujah, and it will be how long before the need to raise the debt limit is revisited ?? That is the goal. Lower the bar and call it the new normal.
    Apr 20, 2011. 09:39 PM | 2 Likes Like |Link to Comment
  • It hardly matters what Geithner says when seven out of every 10 voters say they oppose raising the debt ceiling, Stan Collender writes. "This almost certainly means that most representatives and senators will need to vote against a debt ceiling bill at least once so that they have something on the record showing their constituents that they were with them."  [View news story]
    AAAAH, the Drama. There will be those that cand stand the pain and those that cant. Depends on which side of the bread you butter.
    It has become a battle of principles not numbers.
    Apr 20, 2011. 07:43 PM | 1 Like Like |Link to Comment
  • Robert Fishman says Portugal's need for a bailout is the result of attack by speculators and credit rating agencies who have succeeded in bringing down the existing government and shackling the next one. These market forces are growing so powerful as to threaten the sovereignty of any government, even the U.S.  [View news story]
    Absolutely !!!
    Apr 13, 2011. 04:01 PM | 4 Likes Like |Link to Comment
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