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Tommy the Cork

Tommy the Cork
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  • The Wal-Mart Economy [View article]
    The stock market and the real economy are two different things in a 'wealth effect" policy environment . Today effects are important, causes are meaningless.
    Mar 6 12:37 PM | Likes Like |Link to Comment
  • The Wal-Mart Economy [View article]
    The stock market is hitting new records. Why take real risks (plant, equipment, new employees) when we have a stock market on easy money steroids with a free central bank put to boot!? BTW, I don't believe my new shares require health care insurance!
    Mar 6 12:27 PM | 2 Likes Like |Link to Comment
  • The Wal-Mart Economy [View article]
    Why is "capex" so low? Aren't rates effectively at zero? Isn't 'investment capital' essentially free at the present time? What is the usual fate of free money? Easy come easy go? Why is the labor force participation rate so low when retirement savings are yielding almost nothing unless channeled into what were once considered inappropriate investment vehicles? Do you remember the MBS security fiasco? Yield chasing? Thank heavens residential real estate never declines in price!

    Malinvestment grows out of price signals generated by political rather than market forces. Creating supply through production is difficult enough. Over-regulating the productive sector doesn't exactly encourage risk taking.
    Mar 6 12:04 PM | 2 Likes Like |Link to Comment
  • S&P: BDCs no longer eligible to be in U.S. indices [View news story]
    A gobbledegook press release. "All BDC"s??? "
    Feb 25 12:34 PM | 1 Like Like |Link to Comment
  • Summers: U.S. risks becoming a Downton Abbey economy [View news story]
    We're already there : The statist flavor of feudalism, otherwise known as fascism.
    Feb 17 10:05 AM | 6 Likes Like |Link to Comment
  • Is The U.S. Bankrupt? [View article]
    Of course I'm kidding. Who thinks like that anymore besides central bankers and the those in the ever expanding political class.
    Dec 20 11:51 AM | 15 Likes Like |Link to Comment
  • GDP growth at 4.1%, beats consensus [View news story]
    'Intellectual property'?
    Dec 20 10:54 AM | Likes Like |Link to Comment
  • Is The U.S. Bankrupt? [View article]
    We need a new kind of feudalism. More efficient, less waste with higher production at lower costs. The means of production are in too many hands. Concentrate the means of production in the central state which is the only true representative of the general will and is thus qualified to direct capital towards it's best uses. Centralization is the highest good. Individual liberty, limited government and the rule of law are bunk. Rule by experts! (As long as I can designate the experts)
    Dec 20 10:52 AM | 5 Likes Like |Link to Comment
  • More on Southern Q2: rising power plant cost hits profit [View news story]
    Jul 31 10:21 AM | Likes Like |Link to Comment
  • If small caps truly lead than it's good news for the broader market. The Russell 2000 (IWM) - which crossed over 1,000 for the first time ever on Friday - hit another all-time high in early trade today, +0.3% to 1,009. The index is outperforming the SPY by about 330 bps YTD, after widening its lead in the market bounce over the last 2 weeks. [View news story]
    A bargain at 60 times earnings!!
    Jul 8 10:26 AM | 5 Likes Like |Link to Comment
  • Ganging Up On Gold [View article]
    The government "owns" the country?
    Jun 26 02:41 PM | Likes Like |Link to Comment
  • Ganging Up On Gold [View article]
    Is the interest bearing debt a liability of the government? Thank heavens the 'public' need not be concerned with ever increasing appropriations from the productive sector, the possibility of currency debasement or interest rate suppression and it's effects on capital formation. It's "government paying interest to government" after all! Nothing to see here. Move along.....
    Jun 26 11:31 AM | Likes Like |Link to Comment
  • 77 Years Of Being Wrong Just Isn't Enough [View article]
    Why contribute when we can print?
    Jun 17 08:11 AM | 1 Like Like |Link to Comment
  • More from Tepper: "We're going to get this hyper-drive market," unless the Fed starts tapering its purchases, he says (referencing 1999), adding the June meeting wouldn't be a bad time to get started. He pulls out this chart from a recent FRBNY report, showing stocks remain cheap - the equity premium to bonds is as high as it's been in the last 50 years. [View news story]
    Quoting the NY Fed regarding the "equity risk premium" as a reason to buy 'hand over fist' , as Tepper seems to be saying, is absurd, ridiculous. The kind of absurdity one hears near a market top. Real interest rates are negative bub. Accurate price signals regarding the 'risk free' rate and assumed equity returns do not exist at the moment. Come up with something better guys.
    May 14 01:59 PM | Likes Like |Link to Comment
  • Debunking Birinyi's 'S&P To 1900' Thesis [View article]
    I agree with your thesis. Technical analysis in isolation of fundamental analysis is misleading and dangerous. $4 trillion in cumulative deficits and $2 trillion in QE has given the country a stagnant, flat-lining economy. Sorry but 2% growth won't help. Earnings have peaked. Incomes are going nowhere. Part-time employment, food stamps and ss disability are hitting per capita records. Costs of hiring are about to spike dramatically. This ain't 1982.
    May 14 08:30 AM | 4 Likes Like |Link to Comment