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  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    Bob, that is one of those great liberal pieces of crap that really is a pretty darn stupid statistic. Do you realize I am wealthier than all of the people that have no wealth in the world combined? I mean that is like probably over a billion people that only have debt, no wealth!

    I must be so gloriously wealthy!

    Here is a beter statistic if you took all of the wealth of the 80 richest people in the world it wouldn't have balanced the US budget in any of the first four years Obama was president.
    May 21, 2015. 03:07 PM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    J there is oil in them there tires, that is why they are so much cheaper.
    May 21, 2015. 03:04 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    It looks like our liars in Washington figured out their GDP numbers weren't good enough and it was time for a change in the formula again. Remember that revision of how they counted jobs just before the crucial election dramatically bringing unemployment down below 8% so Romney couldn't pound Obama mercilessly on his broken promise of pledging to get unemployment down below 8% with his porkulous plan.

    http://yhoo.it/1FFeH37

    My guess is it will make the new numbers look better than expected.
    May 21, 2015. 02:58 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    and now we find out some poor billionaire lost $15B in an hour!

    http://cnnmon.ie/1cQqo9S

    Even with a $15/hr minimum wage that will take him 500,000 years of working full time to make back.
    May 21, 2015. 01:39 PM | 1 Like Like |Link to Comment
  • 2015 And Historical Bear Market Triggers [View article]
    So next week when they revise the Q1 GDP number to negative and we start getting more bad economic data in early June we won't need to worry that 2 negative quarters in a row make for a recession because there is a 90+% chance that isn't going to happen!
    May 21, 2015. 01:25 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    You know the economy sucks when only 110 people in 2013 made over $50M. I thought Bob told us the streets were flooded with these moneybags.

    http://1.usa.gov/1cQqEpB
    May 21, 2015. 01:15 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    Personally I consider it torture to listen to Oblather.
    May 21, 2015. 10:14 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    It is not just the electric vehicles. Our twits in DC have been pushing for higher fuel economy standards and the result of this is that the highway trust fund gets even more underfunded because all of those new vehicles get such better mileage AND, of course, they don't raise the federal gas taxes to compensate.
    May 21, 2015. 10:12 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    The recovery we had was driven by energy it had nothind to do with ZIRP. Indeed, ZIRP likely made it more difficult for small and growing businesses to get access to capital as money found a new way of making money by getting a zero risk rate of return from Uncle Sam.

    Remember, the underlying lie was that ultra low interest rates fuel economic growth. 10 year rates cratered since 2011 and we have seen little evidence that this produced any growth in the economy.
    May 21, 2015. 09:06 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    Are they whole grain organic Cheerios?
    May 21, 2015. 09:03 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    and we all hum that chorus "Those big meany banks" while the UAW and GM and Fiat rob the taxpayer blind and are cheered as successes.
    May 21, 2015. 09:02 AM | 8 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    and we wonder why banks haven't been lending to small and growing businesses in this recovery?
    May 21, 2015. 08:04 AM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: PMI Data Weighs On Global Markets [View article]
    They want to get a feel for whether it is September or December or not 2015 at all.
    May 21, 2015. 08:03 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: UBS Settles Forex, Libor Scandals [View article]
    TBill, but will the EU call their bluff? I think not. To make an accomodation by refinancing the current debt with slightly lower interest the problem can be solved. Greece is no longer running a structural deficit, unlike many of the othe rmembers of the EU. So their finances, ex interest and principle payments on the debt, are actually in decent shape comparitively.

    The real question is why is this taking so long? I tend to think the German and French scum (just like in Iraq) are thinking of themselves 1st and foremost. Reality is that as long as Greece is an issue it results in a flight to quality which depresses interest rates for the stalwart EU economies. So perversely the Germans and French are greatly profiting from the misery of the Greeks. That is also why they don't want Euro bonds because it would make money for them more expensive.

    So it really all comes down to the almighty dollar and the two worst offenders on that account, France and Germany, are simply doing what is best for themselves, just like with Iraq and the $45B (?) in loans they had made to Saddam.
    May 20, 2015. 09:25 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: UBS Settles Forex, Libor Scandals [View article]
    The only way this can work is if these businesses can raise prices. Then comes the problem of who is paying the higher prices. If it is not the rich then you basically have not accomplished the goal of raising the wages because the wages will come from those who recieve them and the higher prices will simply reduce their spending power. Now granted in reality it likely means the bottom 80% pays for this increase in wages and thus the poor do get a bit of a boost, but it will come at the expense of the middle class which is already contracting rapidly.

    The only viable system is to have the government supplement incomes through an earned income tax credit using tax revenue which we all know predominantly comes from the rich. That accomplishes the goal of having the rich help the working poor, which afterall was supposed to be the purpose of most of this liberal nonsense.

    In the end what these large increases in the minimum wage accomplish is that it lifts the bottom up to the middle and effectively has most people making the same or similar wages. This is the goal of communism, not capitalism. The outcome of this is of course not good for the economy.
    May 20, 2015. 07:59 AM | 9 Likes Like |Link to Comment
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