Seeking Alpha


Send Message
View as an RSS Feed
View Dawgeatdog's Comments BY TICKER:

Latest  |  Highest rated
  • Today's abysmal GDP numbers prompt Deutsche Bank's Joe LaVorgna to lower the firm's estimate of Q3 GDP by a full percentage point to 2.5%, and reducing Q4 to 3% from 4.3%. Seeing the typically optimistic LaVorgna throw in the towel prompts Zero Hedge to worry that "it may be time to panic."  [View news story]
    Joe Lavorgna does appear a bit overly optimistic. He had the 3rd and 4th qtrs at 3.5% and 4%? Even Obama would have blushed over that optimism. His revised 2.5% and 3% are still overly optimistic.
    Jul 29, 2011. 04:16 PM | 2 Likes Like |Link to Comment
  • California - the worlds eighth largest economy - reports a 10.5% gain in May exports, as shipments of raw materials and agricultural products grew by 24.2% on strong demand from Asia. According to Beacon Economics, "Adjusting for inflation, California’s export trade is as robust as it was prior to the recession."  [View news story]
    You use two left wing rags and 3 left wing talking heads to support your ridiculous conclusions. For crying out loud, the state government is outsourcing state jobs to India, China and just about every other country in Asia. Have you any idea why they'd be doing that? Have you any idea why so many California storefronts are now vacant? Have you any idea why so many businesses have taken off to Texas even though California's climate is great and Texas heat index sucks the big weenie? Don't be deliberately dense. Wake up!
    Jul 14, 2011. 12:19 AM | 3 Likes Like |Link to Comment
  • It's time for the U.S. to prosecute News Corp. (NWS), says Eliot Spitzer, and strip TV licenses if it's guilty - because how likely is it that the company's overseas misdeeds stopped at the water's edge? The U.S. has been aggressive on the Foreign Corrupt Practices Act and needs to step up, if the British government has been even a little bit captured by NWS. (Murdoch drops BSkyB bid)  [View news story]
    "If "Faux News" should have its license revoked, so should the Liberal's lap dog media."

    Well, that would leave no one in network or cable news at all.
    Jul 13, 2011. 11:59 PM | 1 Like Like |Link to Comment
  • It's time for the U.S. to prosecute News Corp. (NWS), says Eliot Spitzer, and strip TV licenses if it's guilty - because how likely is it that the company's overseas misdeeds stopped at the water's edge? The U.S. has been aggressive on the Foreign Corrupt Practices Act and needs to step up, if the British government has been even a little bit captured by NWS. (Murdoch drops BSkyB bid)  [View news story]
    Bloomberg isn't a Republican. He's an independent. But if he did belong to a party he's obviously residing on the left as does Bloomberg business news.
    Jul 13, 2011. 11:57 PM | 1 Like Like |Link to Comment
  • With federal tax revenues coming in at 14.9% of GDP in both 2009 and 2010, current levels are unusually low and have been for some time, Bruce Bartlett writes. The average federal income tax rate on the 400 richest people in the U.S. is 18.1%, down from 26.3% when the data was first calculated in 1992. Cutting already low taxes won't spur growth, Bartlett believes.  [View news story]
    "In California - which is the highest state - 13% of food stamps go to illegal alien families, and about 90% of that is to those with US citizen children."

    13 + 90 = 103
    Setting your horrible math aside, I must remind you that any illegal aliens that come to the US are granted permanent residency upon request should they have a child even within days of arriving. Their child, by law, is now a US citizen eligible for free early life child health care, food stamps and welfare. They are now part of your 90%.
    Jun 1, 2011. 09:59 PM | Likes Like |Link to Comment
  • More Americans are concerned about the potential consequences of raising the debt ceiling than from defaulting on the debt, a new Pew poll shows. "Their greater concern is that raising the debt limit would lead to higher government spending and a larger national debt than that not raising the limit would force the government into default and hurt the nation’s economy.”  [View news story]
    Far too many people have been brainwashed into believing that not raising the debt ceiling means we default. Sorry, that's incorrect. What would cause a default is if we don't raise the debt ceiling and the government decides to pay interest and principal on the debt after it attempts to pay for everything else.
    For those that think stimulus spending was an essential component of stimulating the economy, you're now a card-carrying supporter of trickle-down economics.
    May 25, 2011. 05:55 PM | 7 Likes Like |Link to Comment
  • With LinkedIn (LNKD, up 107% from its offering price) and Apple (AAPL, up 420% in five years) soaking up all the oxygen, have some former tech heroes turned into value stocks? Google (GOOG), Microsoft (MSFT), Intel (INTC) and Cisco Systems (CSCO) have struggled for so long (despite amassing gobs of cash) that the shares may be unloved and cheap.  [View news story]
    Intel, Microsoft, Google, and Cisco all offered high growth for years. They're all cash cows now but with no growth. But when the high revenue growth slows these companies need to follow the path of other mature companies and start the process of paying out a growing dividend for shareholders. Intel has been more generous in this respect, Cisco and Microsoft have long suffering shareholders who deserve more than they're getting, and Google hasn't woken up from their slumber.
    May 21, 2011. 08:24 PM | 1 Like Like |Link to Comment
  • Google (GOOG) was repeatedly warned by regulators that illegal drugstores were advertising on its network, WSJ reports, as the government probes whether Google knowingly accepted the business. Yahoo (YHOO) and Microsoft (MSFT) say they don't think they're under investigation in this $1B/year piece of the ad market.  [View news story]
    Apparently, everyone hasn't read the full article. I think this paragraph is proof enough that Google. and other search engines were complicit in accepting ads from rogue pharmacies for the $1 billion in revenues at stake.

    "For a decade, Google and the other search engines declined to use a verification program created in 1999 by a group representing U.S. state pharmacy regulators to weed-out rogue online drug sellers. Instead, Google used a third-party company that pharmacy regulators and others say often failed to catch illicit drug sellers."
    May 21, 2011. 08:12 PM | Likes Like |Link to Comment
  • The Labor Department reports payrolls climbed in 42 states and the unemployment rate dropped in 39. Nevada unemployment declined the most, falling 0.7% to 12.5%, but the high rate still leads the country. North Dakota unemployment shrank to a barely visible 3.3%.  [View news story]
    Compare the states. The red states did well, and the blue states were dismal. Obama wants the credit for jobs. Should we ask him why he's creating so many more jobs in red states than blue states? Could it be Obama is working harder in the red states? LOL! Of course not. Obama has little to do with job formation. Its more of a matter of the business environment set up by the state. Texas has considerably fewer people than California but beat them hands down in creating jobs. Is there any wonder why companies like Boeing are moving operations out of Washington and to South Carolina?
    May 20, 2011. 01:04 PM | 2 Likes Like |Link to Comment
  • Prepare for a Fed Hike... in 2018? So Says Goldman Sachs [View article]
    While I've held a similar belief of the Fed painting themselves into a corner, I can't help but wonder if an increase from 0% to 1% might not cause our house of cards to collapse. If we could withstand that we might see enough strengthening in the dollar to bring oil and other commodities down and others to bid into the US treasury market again. I still can't imagine it working all that long unless other governments want to push the dollar still higher. Perhaps that will be the key to ending QE. But there won't be any selling of additional treasury assets for years to come.
    May 19, 2011. 06:45 PM | Likes Like |Link to Comment
  • The 'Anti-Austerity' Crusade of Joseph Stiglitz [View article]
    I've never been a proponent of spending our way to prosperity. I don't even know why it has to be explained why.
    May 19, 2011. 06:31 PM | 3 Likes Like |Link to Comment
  • Execs from the oil industry’s Big Five are pilloried by Democrats at a Senate hearing, asking why big oil needs $4B-plus a year in tax breaks while raking in enormous profits. Republicans say that removing incentives would drive production out of the U.S. Political posturing abounded, of course, but the debate is real: Are tax breaks for big oil a consumer ripoff or smart energy policy?  [View news story]
    I understand the desire to cut corporate welfare. I hate government subsidies. But that's not all of what we're dealing with here.
    One of the so-called subsidies is a tax credit on taxes paid overseas. This isn't a tax dodge like every other mulitnational corporation uses to avoid US taxation by keeping income overseas rather its a tax credit for taxes already paid in other nations which is then brought back to the US and it only avoids double taxation. Eliminating this not only leaves them subject to double taxation but it may be unconstitutional because they will be the only industry not eligible to avoid double taxation of this sort. That's blatantly unconstitutional as we will all see in the months to come. If congress really feels the oil industry is too greedy, add to the national $.18 a gallon tax already in place. But no, they won't do that because consumers will realize its really just a tax on consumers. Guess what? This works out the same way but you won't know it because they don't have to show it on the pump.
    May 12, 2011. 06:47 PM | 16 Likes Like |Link to Comment
  • Cisco Systems (CSCO): FQ3 EPS of $0.42 beats by $0.05. Revenue of $10.9B (+5% Y/Y) in-line. Shares +3.7% AH. (PR)  [View news story]
    Oops! Spoke too soon.
    May 11, 2011. 05:00 PM | 2 Likes Like |Link to Comment
  • U.S. regulators approve a Royal Dutch Shell (RDS.A) plan to drill for oil deep under the Gulf of Mexico, the second deepwater exploration plan approved in the Gulf since the government lifted its moratorium last October. Regulators determined that Shell's plan met new safety standards; environmental groups have signaled they would challenge such a ruling in court.  [View news story]
    Why do people believe they can successfully sue the federal government into a new policy to their liking?
    May 11, 2011. 04:10 PM | Likes Like |Link to Comment
  • In a letter to the CFTC, a group of 17 Senators demand a crack down on speculation in the energy markets. "The wild fluctuation could only be the result of rampant oil speculation, plain and simple," says Ron Wyden. It's unknown if a copy of the letter was sent to the Fed whose near 0% rates let speculative positions be financed for next to nothing.
     [View news story]
    I hear people claim all the time that the oil market is rigged and that its all the blame of speculators, or oil companies or OPEC. But its really a simple-minded conclusion drawn from a lack of understanding of what goes into oil pricing. To be sure, its more complex than meets the eye. But IMO, what's important is:
    1) Oil has a more inelastic demand than healthcare.
    2) While the world consumes some 85M barrels a day, the difference between the current supply and current demand are always pretty closely aligned.
    3)Speculators can go long or short
    4)A sudden drop in crude pricing won't immediately drop at the pump because that refined product was purchased at a different price.
    When you take all of these things into consideration, any negative geopolitical event that threatens supply and/or any fast and lasting rise in the price at the pump will send speculators to the short side of the market. If one day the biggest consumer of oil was to quickly cut demand by even 5%, world oil supplies would leave the world awash in oil and world oil prices would tank in a big way. Let us not forget, most oil producers are addicted to the revenues they receive now and a lot of rulers would fall.
    May 11, 2011. 04:04 PM | 5 Likes Like |Link to Comment