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  • Is Sandy Weill Right? [View article]
    I respectfully disagree with Dread. What is attractive about gangsters like Sandy is that they talk straight. Sandy doesn't pretend that private financial system exists for the good of society. Banks are about "the best way to make money" rather than the best way of distributing it between the sectors of national economy for its healthy and all-rounded growth. The best way to make money in the 90s was to bribe Washington to repeal the Glass-Steagall. The best way to make money today is to have it back.
    Jul 26 05:10 PM | 12 Likes Like |Link to Comment
  • Wall Street Breakfast: AIG Settles Crisis-Era Lawsuit And Posts Profit [View article]
    Unfortunately, the problem is much more grave than protection of ethnic Russians in Ukraine. Actually, Putin has shown zero concern for discrimination against Russian minorities in the Baltic countries. What Putin fears, and justly so, imo, is NATO bases in Ukraine which would drastically degrade Russia's nuclear deterrent capabilities and make her vulnerable to a military-political blackmail. Russia's vision of Ukraine as federated and non-aligned state, articulated by Lavrov right after the coup in Kiev, remains the only acceptable solution for the Kremlin because the pro-Russian South-East would never allow NATO in Ukraine. This is why Putin asked to postpone the referendum in Donbass last April. If Ukraine gets split into a pro-Russian and ant-Russian parts NATO/US will eventually move in and together with a hard-core Ukrainian nationalist regime form a permanent security threat. The paradox is that it is Russia who more than any one else, Ukrainian hard-core nationalists included, needs to preserve Ukraine in its current borders. But only as friendly or, at least, neutral entity.
    Aug 5 08:49 AM | 10 Likes Like |Link to Comment
  • Surviving And Prospering Over The Next 4 Years Of Economic Darkness [View article]
    This assessment is too gloomy and ideologically driven. The Republicans can ill afford sabotaging Obama's mandate for tax reform. If they do, chances are they will be wiped out in 2014 and 2016.
    Nov 7 09:40 AM | 7 Likes Like |Link to Comment
  • U.S. Stock Market Outlook 2012: Down Hard, But Not Out (Part 2) [View article]
    Too bad you didn't keep your thoughts to yourself. You want to bomb the Iranian people into a Stone Age and make a nice profit at that? A truly civilized sentiment from a truly civilized society with two truly civilized world wars behind it and itching for the third!
    Jan 24 03:26 PM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    This is by far the most informative section of SA. Thank you!
    Dec 29 07:40 AM | 7 Likes Like |Link to Comment
  • Rising Inequality And The Economic Crisis [View article]
    Capitalism appear schizophrenic in more than one way. Daily we hear that US economy is consumer based. The more US citizens consume the better our economy gets (whatever "economy" means). Yet daily we hear that all our problems stem from US households not saving enough, i.e., consuming too much. Schizophrenic it seems indeed. But once we scratch the surface of the machine called capitalism (something we don't expect from WSJ and the rest) we are back to normalcy.

    Why is it that "Median wages lost touch with productivity growth"? That is why for the first time in 150 years American capitalists began paying American workers less for producing more? The answer is simple: If they can pay less they will pay less. Why couldn't they pay less before? Because before they had to preserve "social peace" at home in the face of the Soviet Union, thus tolerating the lingering power of organized labor and left sections of the Democratic Party, and didn't have access to the huge pools of dirt cheap labor around the world. The "de-leveraging" of US wage slaves began in earnest only when these obstacles were removed. But why debt? For a long period of time, the transfer of US manufacturing to Asia and LA could pay for itself only by selling cheap goods manufactured by Chinese slaves to their American brethren who were going through the painful process of "de-leveraging." Walmart's 800 factories in China churned out everything the Americans needed daily and could still buy on their withering wages without feeling being squeezed too much. As to the rest (big ticket items), for the time being they were offered credit. They were had both ways, so to speak: by falling wages and rising indebtedness. This is how "Profits embarked on a rising proportion of GDP." Now, sooner or later these debts had to be paid off by someone. If not by the de-leveraged American workers than by who? And here the Wall Street wizards found an elegant solution for the age of "globalization." . They internationalized this debt by selling it to investors around the world in the form of credit default swaps and the like. Act One of this tragicomedy was over in 2008 when the scam could no longer be kept secret or perhaps was supposed to be discovered so that Act Two could begin: the nationalization of corporate debt and dismantling of the US welfare state.
    Dec 3 06:02 PM | 7 Likes Like |Link to Comment
  • Predicting The Outcome In Europe And What It Means For U.S. Stocks [View article]
    Our bulls are desperate. We salute their valiant efforts to pump and suck us in. Perhaps, some other time...
    Nov 17 06:43 AM | 7 Likes Like |Link to Comment
  • Are We Headed for a Global Meltdown? [View article]
    I travel often to Japan and this is a modern Western country now without power and water and basic essentials for many days...>>

    Really, the entire country?
    Mar 17 08:34 AM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    How about this explanation from common sense? The "conservative revolution" allowed capitalists to roam the world freely in search of dirt cheap labor. Why to pay $100K to an engineer or middle-level management in the US if I can pay $20K for the same work elsewhere?
    Dec 13 09:02 AM | 6 Likes Like |Link to Comment
  • Jobs Don't Matter: Inflation Expectations Suggest Higher Highs To Come [View article]
    Markets have created wealth equal to if not greater than the balance sheet of the Fed.>>

    Markets have "created" three trillion of FICTITIOUS wealth which will melt into thin air whence in came from on a short notice.
    Feb 4 05:44 AM | 6 Likes Like |Link to Comment
  • Non-Farm Friday - Payroll Data Sets The Pace [View article]
    Dear Mr. Davis,

    Please do not be discouraged by the howls and screams of SA rednecks. Your contributions are highly valued both for your deep economic insights, brilliant trading ideas, and, last not least, your humanity and enlightened approach to social issues. With the historical decline of liberal bourgeoisie, this is a rare combination of qualities in the time when we need it the most.
    Jun 7 01:32 PM | 5 Likes Like |Link to Comment
  • The Inflation Trade Is On [View article]
    Ben is not "stupid" and he's more informed and knowledgeable than SA members tutti quanti. This move suggests that situation is much, much worse than it appears in official data.
    Sep 13 07:02 PM | 5 Likes Like |Link to Comment
  • Not So Golden Years: How An Aging Society Can Impact The Markets [View article]
    "The unfunded nature of the US entitlement system"?! Do you mean "the plundered nature of the US entitlement system"?
    May 15 10:24 PM | 5 Likes Like |Link to Comment
  • 'Obviously Unserviceable' Debt To Weigh On Stocks In 2012 [View article]
    I agree. I'll take all that worthless paper that PM bugs so justly loathe. I' ll be happy to pay shipping and handling fees and send you a nice Christmas card.
    Dec 23 09:49 PM | 5 Likes Like |Link to Comment
  • Friday's Market Blow - Jobs or No Jobs? [View article]
    Great stuff! Just another proof that US bourgeoisie still produce men capable of critical examination of its affairs even during this feast amidst the plague. Indeed, the widening "scissors" between the profits of US capitalists and the wages of US workers that for the first time in almost 200 years began to grow some time in the 70s has been the main cause of this "recession." That is to say its cause is political in nature (It's not economy, stupid!). Politically speaking, American workers are and in the post-war period always have been sissies who wrap themselves in the flag lest be accused in "un-American" behavior. This is the only working class in modern history who has failed to create its own political party! So the question really is: Why they were allowed at all to live better than underage Bangladesh weavers? A one word answer to this is: USSR. In one of the most bitter ironies of modern history, the US plebs--thoroughly brainwashed with anticommunism and Russophobia--owed its relative well-being (actually quite modest) to the existence of the mighty "commie" state. The war against the Soviet Union made American bosses seek "social peace" at home by sharing with workers the proverbial "crumbs" from their table. But once the SU was gone the deal was off... The old mole never stopped digging though. Dig, baby, dig!
    Mar 5 12:03 AM | 5 Likes Like |Link to Comment