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marpy

marpy
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  • Stocks give up gains as ECB rejects Greek paper as acceptable collateral [View news story]
    Russia is headed for broke and anyone throwing money at that country is just throwing more good money after bad!!
    Feb 4, 2015. 05:40 PM | Likes Like |Link to Comment
  • Stocks give up gains as ECB rejects Greek paper as acceptable collateral [View news story]
    Having your own currency does little to change the terms. Those that put up the bailout money will still demand to be paid in Euro's. And at something like 10,000 drachma to the Euro, that will be way worse than if they bit the bullet, paid their bills and stayed with the Euro.
    Feb 4, 2015. 05:39 PM | 3 Likes Like |Link to Comment
  • Can Turquoise Hill Overcome Consequences From Mongolia's Divided Leaders? [View article]
    The current GOM has been nothing but a thorn in the side of business and the people of Mongolia since it was elected.Actually, a total disaster would be a good description of the current GOM's economic accomplishments. TRQ had a deal to sell South Gobi To a Chinese company for well over a billion dollars. The GOM turned the issue into a nationalistic political issue and scuttled the sale even though South Gobi's deposit is far from being a major deposit of national importance. The sale would have actually helped pave the way for the development of Tavan Tolgoi (the huge mother of coal deposits that exists in Mongolia). The GOM was though to tied up in their stupidity to realize this.
    The GOM's negative and nationalistic/ populist approach towards foriegn investors/ investment has resulted in a stalled economy that is on the verge of needing to be bailed out by the IMF with the population paying a big price in lower living standard.
    This nationalistic/ populist approach is now backfiring on anti business elements in the GOM and it looks like the new leader realizes this and the poll results of the non-binding referendum also indicate this as the people vote for development. If the new leadership can turn this vote into action, then this could be the beginning of a very positive and overdue move for companies doing business in Mongolia.

    Nice to see someone at SA covering Mongolia

    Time will tell!
    JMO
    Feb 4, 2015. 01:25 PM | 3 Likes Like |Link to Comment
  • Can Turquoise Hill Overcome Consequences From Mongolia's Divided Leaders? [View article]
    Wrong! Rio Tinto and TRQ paid for most of the required infrastructure as part of the deal. If you were waiting on the GOM to build anything, you would be waiting a very long time.
    Feb 4, 2015. 09:23 AM | 2 Likes Like |Link to Comment
  • Oil Stocks May Be A Big Win In 2015 [View article]
    Not sure about the statement "$250 billion in 2014, but my guess is that $100 billion of that went to natural gas drilling." Based on the # of rigs drilling for gas that year and the low price, I suspect a figure closer to 50 billion spent on natural gas drilling.
    As for oil being a winner in 2015, I am betting on that as well.
    Feb 3, 2015. 07:11 PM | 3 Likes Like |Link to Comment
  • 'The Turn' Is Near For Natural Gas Pricing, Buy UGAZ [View article]
    Nice to see an Author that puts his money where his mouth is. I also think you are right. Nat gas is trading at a price that is not profitable for a lot of producers and so it is only a matter of time before it goes up. JMO
    Feb 3, 2015. 02:09 PM | 4 Likes Like |Link to Comment
  • Greece Just Blew Up The Empire's Death Star Of Debt [View article]
    Answers:

    1. Impaired debt and defaults result from imprudent underwriting and lender incompetence/greed. Since when did it become accepted policy to reward imprudent lending, incompetence and greed?

    - Since the beginning of modern economics with every country that went bust!

    2. Greece will not be wiped out by leaving the euro currency - it will be freed to rebuild itself

    - No - they will just continue to be repeat offenders - just like many of the other basket cases out there and standard of living will be a lot lower.

    3. The hundreds of billions of euros in so-called bailouts did not help Greece - all they did was bail out imprudent lenders and Euroland Elites.

    - Greece would be in way worse shape today if not for the bail out and the standard of living would be way lower. So help it very much did.
    Feb 2, 2015. 02:49 PM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Pressure Builds On China As Manufacturing Slows [View article]
    Can you really blame anyone for taking advantage of fed stupidity?? If the feds and others want to lend money for next to nothing, you can't blame people for borrowing. Its just like the sub prime disaster - people got to enjoy living in houses that was way beyond their means till the house of cards crumbled and then they went back to normal - party while you can ;-). The problem started with Greenspan and his easy money policies and it is still with us today with no good way out. The feds and authorities write the rules - don't blame people for taking advantage of them.
    Feb 2, 2015. 12:17 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Pressure Builds On China As Manufacturing Slows [View article]
    Ya - take it out on the generation that worked hard and paid their mortgages and bills even at 12% plus interest rates and saved for a rainy day. By the way - a lot of the wealth in this world today is not boomer wealth. Microsoft, gates and company may fall into the boomer category but Amazon, Google and the likes (today's engines of wealth and growth) are part of generations that came after the boomers. Same old story - blame someone else for all your problems, the fact that some generations raised lazy sods for kids and take no responsibility for anything. - It makes you feel better.
    Feb 2, 2015. 12:11 PM | 3 Likes Like |Link to Comment
  • WSJ: DOJ probing Moody's over pre-crisis mortgage ratings [View news story]
    Conflict of interest! Conflict of Interest! Conflict of Interest! About sums about sums it up for these rating agencies !!!!
    Feb 2, 2015. 10:25 AM | Likes Like |Link to Comment
  • Update: SouthGobi Resources Fined $18 Million [View article]
    IMO - South Gobi is just a puppet in the GOM's dispute with Rio Tinto and Turquoise Hill resources. They can not pick on Tinto or TRQ directly and so they pick on the subsidiary SGQ. Prosecutors sent the case back 3 times due to lack of evidence before finally caving to the politicians and moving forward in Mongolias corrupt courts. Rio Tinto and TRQ have an Iron clad contract enforceable in world courts and this is why the GOM chooses to dance around them picking on the weaker subsidiaries like South Gobi.
    Feb 2, 2015. 10:19 AM | 4 Likes Like |Link to Comment
  • How Canadian Banking Stocks May Act As A Defensive Play During Rough Periods [View article]
    Even during the great depression, Canadian banks did not cut dividends. CMHC insures a huge pool of mortgages but even in housing correction which is coming one of these days, the vast majority of owners will keep paying their bills. No NINJA loans in Canada. The Canadian dollar will follow oil prices and so most of the slide should IMO be over although some risk does remain for foriegn buyers. Note that BMO, RBC also have large US Divisions. JMO
    Jan 31, 2015. 10:13 AM | Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    tap water = .007 cents a gallon. Their is no comparison between the 2. water you get every time it rains and is the most abundant resource on the planet (ya I know most of it is salt and a lot of areas are desert - but it does not change the fact that it is the most abundant resource and salt water can be desalinated for zero dollars if you set up your own solar desalination.) Oil is a finite commodity that keeps getting more and more expensive to find.
    No Comparison
    Jan 31, 2015. 10:07 AM | Likes Like |Link to Comment
  • U.S. rig count plunges another 90 units in ninth straight weekly loss [View news story]
    You need to look at what would happen if the Saudis did not maintain production. In 1985 they choose to support price over volume and the end result was that every one else kept producing more while they kept producing less. Their production dropped from over 10 million barrels per day to around 3. The end result was that oil dropped to $10 per barrel and took 20 years to recover. The biggest looser in all of this was the American producers as in the gulf states being the low cost producers were able to recover production first even if at lower prices. So IMO - they are doing the American producers a big favor by driving some discipline into this market. JMO
    Jan 31, 2015. 09:58 AM | Likes Like |Link to Comment
  • Canadian lenders give more ground as Barclays downgrades [View news story]
    Right now, everything that the banks have lent related to mortgages is protected by CMHC or private insurance. In other words - they are protected. If the rules change going forward, then I am sure that the lending practices will be adjusted accordingly.
    Also most of the guys that were working the big overtime and that are getting cut back and laid off are from out of province (East coast and other depressed areas). They will be going back to these areas. Real estate in these areas never went up much and so its not going down much either. They were not from Vancouver, Toronto, Calgary or Edmonton (the real estate boom areas.
    Jan 30, 2015. 03:29 PM | 1 Like Like |Link to Comment
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