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  • Wall Street Breakfast: Ebola Stocks Surge After U.S. Case Confirmed [View article]
    If viewed through the lense of people dieing due to invectious diseases even an epidemic wouldn't be that significant. Many many people die of complications from the flu every year. Now we have like 3 people infected in the US, or is it 4?
    Oct 1 11:09 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Ebola Stocks Surge After U.S. Case Confirmed [View article]
    wyostocks, one thing you forget is that this "crisis" in the EU is a huge massive ginormous benefit to the Germans. The biggest benefit comes from the fact that they get to pay absurdly lower interest rates on their massive debt. So any money they lose on Greece, Cyprus or Portugal is dwarfed by the savings they get from paying such low interest rates. Likely we are talking about savings in the 1-1.5% of GDP range.

    Then there is the benefit of the weakened currency which allows the export behemoth to continue to generate huge economic activity and taxes.
    Oct 1 11:08 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Argentina Held In Contempt By NY Judge [View article]
    Bob, don't be naive, the failed communists are still alive and well and subverting capitalism every change they get. Be that in Europe or here in the US.
    Sep 30 11:48 AM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Argentina Held In Contempt By NY Judge [View article]
    Tony, don't worry about your Ford. The news isn't nearly as bad as it seems. First off likely around $1B of the losses in SA are simply due to currency issues they have no control over. Eventually the stronger dollar will reach some equilibrium and Ford can price accordingly. Till then they take currency hits, especially in Venezuela where they were forced to hold around $750M in the local currency which has since been devalued massively and effectively the $750M is worthless.

    The EU is not good news but it isn't all that bad either. The sanctions in Russia were going to be some blowback even here in the US and this is what you are seeing.

    As to the recalls, it has been a massive year of recalls in the auto industry. Ford simply is caught up in this and the costs are large, though of a one time nature.

    So all of these issues are 2014 problems that will lower earnings to like $6B, still a good year. Given their large number of launches (most late in the year) 2015 should be a significant improvement.

    So I would put F on my buy list if there is another sell-off here before the holidays. A 50 cent dividend isn't bad and you can now wait for Q3 earnings to get a better picture of the position they are in.
    Sep 30 09:47 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Argentina Held In Contempt By NY Judge [View article]
    If Beijing is smart they will negotiate their way out of this to give each side a saving grace. More likely though is that Beijing will let the protest go on through the holiday and afterwards crack down, maybe wait through the weekend. Much like the Maidan in Kiev, this can be existential for the government in Beijing so it will need watching. Likely if we get a negative reaction it will be the catalyst to the October sell-off most have been expecting.
    Sep 30 09:43 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Billions Withdrawn From Pimco Following Gross's Departure [View article]
    Gene and Blue, Hank has a point. AIG had over $1T in assets and more than enough in assets to handle the losses it incurred (over $200B). Unfortunately those $1T in assets weren't worth their fair value when there was no bid and people were just offering you 10 cents on the dollar. That was the problem and I think if we had been smart, we would have created a government bailout system where the government would become the backstop for assets at a fair market discount, like 25%. If we had done that, AIG could have survived, Uncle Sam would have made a nice 33% profit and we wouldn't have this discussion.
    Sep 29 10:02 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Billions Withdrawn From Pimco Following Gross's Departure [View article]
    Blue, Fannie and Freddie were insolvent, so I think the government bailout of those two, the largest of any of the TARP bailouts, certainly warrants shareholders and bondholders going out empty.

    As to GM, GMAC and C, well that is where the taxpayers got taken for an Obama ride. The losses to taxpayers from profits they should have made and profits that were blatantly avoided to benefit those companies it is close to $100B. No one in the media will tell you the truth, but I will.
    Sep 29 10:00 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Billions Withdrawn From Pimco Following Gross's Departure [View article]
    wiz, we have recovered every penny of TARP, I guess you missed where even Fannie and Freddie started throwing off enormous dividends.

    As to GM, C and GMAC, the loss to taxpayers is pretty close to $100B if you factor in the tax avoidance and the dividends they didn't pay on the bailout loans as well as the capital losses once the government took stock and then sold it. By the way, we have no interest in GM anymore. So maybe you just need to update your view from the 2009 bash the Bush years.
    Sep 29 12:23 PM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Billions Withdrawn From Pimco Following Gross's Departure [View article]
    This is just more evidence of the EU taxing US corporations to benefit themselves. With these new large huge fines all that has been created is a new taxation system, period. It needs to be stopped.
    Sep 29 09:39 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: Billions Withdrawn From Pimco Following Gross's Departure [View article]
    Come now Blue the US government made a mint off of TARP. The only loss was Obama's decisions to throw massive amounts of money at Chrysler and GM in the bailout and then design idiotic bankruptcies that took taxpayers to the cleaners at the expense of the UAW.

    TARP itself as enacted by the Bush administration was a massive taxpayer success, we made out well.
    Sep 29 09:38 AM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Global Markets Digest Slide In U.S. [View article]
    I still love how Turkey screwed us in the last invasion of Iraq then with 2 years invaded Iraq itself.
    Sep 26 04:34 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Global Markets Digest Slide In U.S. [View article]
    It was a huge mistake to bailout Chrysler. They should have let the company go under and sell off the pieces. Ram and Jeep both would have found homes, likely their minivan business to. The rest they should have shuttered. Instead they gave it away for pretty much free to Fiat that had already been bailed out by GM and likely caused GM to go BK due to that missing cash.
    Sep 26 08:03 AM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast [View article]
    GaD, you seem to insinuate that Wal-Mart is the one oppressing the poor. You couldn't be farther from the truth. Wal-Mart is the best friend poor people have in this company. Wal-Mart does more for poor people than even the government.
    Sep 25 02:07 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast [View article]
    It is going to come down to turnout.
    Sep 25 11:58 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast [View article]
    RiQ, I am sure Wal-Mart will make a good chunk of money on this. Just remember that Wal-Mart gets hit with a transaction fee every time you use your credit card or debit card. This simply lets Wal-Mart get a piece of that money back if the customer is using their bank, which likely will be more and more as it is just so convenient.

    Wal-Mart is turning itself into that small town USA where you can get everything from banking to medical to groceries and consumer goods.
    Sep 25 11:57 AM | 3 Likes Like |Link to Comment
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