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Leftfield

Leftfield
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  • What Is All the Market Excitement About? [View article]
    This is the good news! Reminds me of Orwell, "1984," first page, there is a billboard that says, "Slavery is Freedom!" Now, we keep in place the leaders, accelerate policies that got us into this hole, and applaud the achievement of fewer "Trillions into the black holes of banking, nothing out" than analysts expected.
    The longer the transfer of bank liabilities to public balance sheet goes on, the more the public is raped and pillaged for the privileged and connected. Is this the road to recovery?
    Oct 1 10:12 AM | 3 Likes Like |Link to Comment
  • Four Thoughts About Underestimating the FDIC [View article]
    Excellent point, that people want competence. The Clintons seemed to have it, so they got reelected. Not so, Jimmy Carter. I believe this administration appears increasingly Carteresque.
    My hope is, many major perils in this country featured stupidity and incompetence for a long time, yet we muddled through to ultimate success. There are many examples, like Pearl Harbor. Unfortunately, Obama, so far, appears very far off the mark, and the danger is alarming.
    Oct 1 09:36 AM | 2 Likes Like |Link to Comment
  • If the FDIC Is Broke, Why Are They Still Issuing Guarantees? [View article]
    This is what you get when you keep the same failures in place. They are convinced that if stupidity got us into this mess, stupidity will get us out. Someone has to break the cycle. Still waiting.....
    Oct 1 09:17 AM | 2 Likes Like |Link to Comment
  • While eBay Burned, Whitman Fiddled [View article]
    The article says, Donohoe has tried to give Ebay "some focus and direction," then goes on to describe how he has continued every practice of excess compensation under Whitman while the stock tanks.
    Why do analysts give these embarassing passes to these people, with this cognitive dissonance? The fact is, what you see, what you smell, for Whitman, applies at least double to her hand-picked successor, based on the article's own information.
    Ebay has a decrepit, neglected site, only gutted and rearranged for popup ads, and a management fixated on putting every poorly-conceived short-term dime saved into their own pockets. Stupid policies have driven small sellers off in mass numbers, leaving mass-merchandisers of Chinese dreck they favor in a pathetic attempt to emulate Amazon. Imagine the success this site could have in this economy as a venue for small sellers needing to raise some money and cash-strapped buyers looking for unique bargains!
    Ebay is clearly business-by-MBA handbook, a cautionary tale of allowing suits with degrees "professionally" manage organizations into the ground. No experience in that business necessary. It's kind of a fancy pump and dump, except that such managements can take years to milk a company with their soulless rule, before they slither off either voluntarily or with the organization in tatters or bankruptcy.
    Oct 1 09:07 AM | 7 Likes Like |Link to Comment
  • Are US Treasuries A Bubble Ready To Pop?  [View instapost]
    This shows strong evidence interest rates should be higher. I know you've had good calls before, like, stocks, early March. Higher long-term yields only make sense logically due to supply, anyway. I will be interested in your ideas on the fallout of this likely impending predicament.
    Sep 30 07:20 PM | Likes Like |Link to Comment
  • Banking Systems Ranked: who's first, who's worst [View instapost]
    Canada: Healthy finances AND you get healthcare for your tax dollars. And, face it, the US probably got a "gentleman's D" instead of an even more Zimbabwean rank due to "reserve" status.
    Sep 30 12:29 PM | Likes Like |Link to Comment
  • What's Our Real Economic Condition? [View article]
    We went from the world's largest creditor to largest debtor during the years of Greenspan's "productivity miracle" and nearly recession-free "prosperity." Washington, Wall St. and their parrots, MSM, seem fully capable of spinning tales of recovery from the usual cooked books and statistics, financial innovation, bailout $trillions and debt now.
    There are a few indicators that can't as easily falsified, as the article mentions. Another big one is government tax receipts.
    They're trying to pump greed over fear, but as Washington and Wall St. concoct business as usual, they are only creating a worse burden when the bill becomes unavoidable.
    Sep 30 11:42 AM | 10 Likes Like |Link to Comment
  • How the Recession Is Changing Retirement [View article]
    As user 353272 states, it is artificial to divide work/life and expect SS retirement benefits to magically appear at a government mandated age. I will add that expecting taxpayers who must work all their lives, to make good the over-promises of lush government employee, and publicly insured defined-benefit private plans, would be utterly unjust.
    We've had many decades of the rise, then shrinkage of traditional stable employment with benefits, and mainly, only government employees are left. The idea of more flexible arrangements, often involving extended families will be needed and in some ways, enriching.
    But, government is set to make this as difficult as possible, with their mandates, rules, decrees, fees, procedures and taxes that mount insanely over time. They remain the millstone that subsidizes sloth, failure and cronies, at enormous and rapidly-mounting expense. Younger people, justifiably, claim to be against large, intrusive, suffocating structures, which would be an excellent survival mechanism for them since they are in line to be completely ripped off. If they can avoid the cognitive dissonance their boomer parents lived by, which involved talk of "getting real," or whatever, then building the largest Ponzi ever (our government & Wall St.), and actually build lives away from these entities and force sanity into our society, they will help themselves and all of us get back on a sustainable track.
    Sep 30 10:28 AM | 3 Likes Like |Link to Comment
  • Why Banking Is Insolvent [View article]
    lynnybee, I know of what you speak. For many, state/local taxes and public utilities are onerous, rising, and set to rise faster to cover their deficits. They are a large component that helps make real estate unaffordable even now. Many are losing jobs and businesses and new ones aren't being created. We can at least take solace that Wall St. got it's bailout $trillions and somewhere another $trillion went to the Washington "stimulus" plan.
    Sep 29 03:55 PM | 4 Likes Like |Link to Comment
  • Is It Time to Recognize Reality? [View article]
    Paper printing is all there is to cover debt service, plus phony accounting and statistics. Debt is going to the taxpayer's balance sheet, the last standing in the house of cards. This is the end game.
    Pain avoidance has been the game for decades, at least. Recovery starts by admitting the truth. Until at least that happens, we face death by a thousand cuts with plenty of big ones thrown in.
    Sep 29 02:03 PM | 15 Likes Like |Link to Comment
  • Energy Myths for the 21st Century [View article]
    Al Gore's company which purports to have some sort of green technological application, just got 526 $million from Washington. Those people aren't shy about impropriety; they take care of their own.
    Their plans are for crony environmentalism, writ large. I appreciate the reminder of their crackpot CO2 sequestration idea. Somehow their plans always involve big checks for themselves and no plans for middle class American prosperity any more.
    Sep 29 12:59 PM | 22 Likes Like |Link to Comment
  • Currency Swaps, U.S. Dollar, And a Tilted Playing Field [View article]
    Big players in Washington don't worry about paying their taxes anymore. The appearance of impropriety scarcely matters on Wall St. This can only increase as our "heads, they win, tails, we lose" system pauperizes more of formerly prosperous middle class America, who are increasingly concerned with a narrow focus on survival.
    Elites gain privilege regardless whether their policies implode, as we socialize their losses, and incumbents are returned to office. Merit seems only to be in the skills necessary to negotiate the house of smoke and mirrors the rule of the US has become.
    Sep 29 11:51 AM | 3 Likes Like |Link to Comment
  • The Taxman Comes Knocking [View article]
    Yes, as the article says, public debt revulsion would be the responsible thing, but "cashing in on stimulations is more likely to draw the crowds."
    We've gone a long way devoid of principle. Some government programs start with a laudable goal, but by forsaking the Constitution, the most principled law we have, the corruption spreads like cancer. Laudable goals become entitlements and government jobs programs that take from those too unaware or unconnected politically to escape ever-rising extractions from their earnings and property.
    Now we are deep in unintended but inevitable consequences, as the bills become due while the misallocation of resources has rendered us economically dysfunctional. This is now blatant plunder; even more is inescapable, as the article shows. Will principle finally draw crowds?
    Sep 29 10:32 AM | 6 Likes Like |Link to Comment
  • Morgan Stanley Sued Over a Bad Derivative Bet [View article]
    Postponing the demise of this system only increases the bloodletting to the average taxpayer, which is, of course, the idea. Privileged insiders get more time for pillage and exit planning, the longer this goes on.
    Their worst Wall St. products are shifted to the remaining "lender" of last resort, Washington, which still has the operable fiat connections to beg, borrow and steal "liquidity" for the banksters.
    Pardon the stupid question, but isn't it illegal to take money for an insurance "product" you have no means of honoring?
    Sep 28 06:03 PM | 1 Like Like |Link to Comment
  • American Debt Falls for First Time Since 1954 [View article]
    The total debt is unpayable. Collapsed financial "innovation" is being shifted to the "lender" (borrower) of last resort, Washington. This can only be temporary; no one can pay it. It's the last act of "The Financial Innovations That Ate Main St."
    Sep 28 04:53 PM | 3 Likes Like |Link to Comment
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