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Leftfield

Leftfield
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  • Feedback for eBay: Lousy Seller. Would Not Buy from Again [View article]
    I get a first-hand glimpse at management by MBA in US corporations with Ebay as I do lots of business there. The core auction business is like GM's core auto business was for years: Mismanaged and lousy. I don't know exactly how clueless empty suits get in a position to run companies into the ground except that they must know how to play the game. Dress, speak right, know the right people. Get to the top and you loot the taxpayer directly through paid-off politicians.
    There are plenty of analysts who look at, who knows? (Heath Terry) and make pronouncements that "the company is making progress."
    All of Ebay is a cash cow despite the efforts of stupid management to thwart it. "Years of technological neglect" are because these are typical American corporate managements taking greedy chunks for themselves for their stupid work and neglect. Ebay is losing in an economy where they could be a lifeline to buyers and sellers around the world needing to make a little cash or get a good deal. Instead, they try to be a cheap imitation of Amazon who is eating their lunch.
    I'm sure rising foreign businesspeople, coming in contact with successful Americans are dumbstruck at how they sell us out and get away with such looting.
    Jul 22, 2009. 08:38 PM | 7 Likes Like |Link to Comment
  • On Financial Engineering and Financial Innovation [View article]
    Gearing, leverage, fancy theories, phony ratings, they are all constructs that were/are put on a "foundation" of people who can't pay. Financial engineering.
    Jul 22, 2009. 02:17 PM | 3 Likes Like |Link to Comment
  • U.S. Real Estate Industry Whines About New Appraising Rules [View article]
    I know a lot about Canada. I know some Canadians. I have commented favorably 100% on Jeff Nielson's articles. Am I in trouble?
    I think he's fundamentally right every time. Timing is key as the fraudsters have built up their systems for about a century and especially the last few decades.
    Given time, gold should go up, houses should keep going down regardless of manipulations. Mark to magic has helped GS and Wall St. lately and housing appraisers would like some of that. I'm sorry that people in housing-related businesses will be hurt by a more honest system of appraisals, but it's one of countless huge adjustments that must be made in our economy.
    There are too many people employed in dishonest systems like, bloated government, to be sustained. The decline in real pay for average Americans proves it.
    Jul 22, 2009. 01:27 PM | 7 Likes Like |Link to Comment
  • Saving CIT: Good News for the Confidence of the Entire Financial System [View article]
    I do wish I could list making a sinecure for my seamstress as a major problem. Like the TARP wife, who's husband didn't see the debt default tsunami coming like the other big banks.
    I did. Couldn't miss it. In '05 when I refinanced I told everyone how they were handing mortgages out like candy. Something was clearly wrong even to me.
    The bigshots were either incompetent or criminally greedy, like GS, parlaying the country's disaster they instigated into record profits.
    She is not interested in donating to charity or helping businesses stay afloat. Just, to keep up proper appearances while pinching dimes to others. Her, her husband and most of our leaders are peas in a pod.
    Jul 21, 2009. 12:27 PM | Likes Like |Link to Comment
  • Six Ways to Fix the Fed [View article]
    Accountants have been a good example of a group taking for themselves at other's expense. They're content to see convoluted shell games that bankrupt the country whose complexity requires accounting skills.
    They seem quiet on SA now that mark to magic was reenacted.
    Jul 21, 2009. 10:36 AM | Likes Like |Link to Comment
  • Bernanke in the Wall Street Journal on Exit Strategies [View article]
    We know bs is always "shovel ready" in Washington.
    Jul 21, 2009. 07:27 AM | Likes Like |Link to Comment
  • U.S. Tab for Crisis Could Hit Staggering Figure [View article]
    In history the majority in society living in anything but serfdom is rare. As Jeff Nielson puts it, the elites must think the bottom 80% are all naturally, deservedly, losers.
    They've got the mainstream media as a plaything and, as with the Republican/Democrat "choices" we get noise and more of the same.
    I suppose they figure once enough folks wake up there will be no way out for us as we will have been so thoroughly looted, pauperized and disempowered. So far they're right.
    Jul 21, 2009. 06:55 AM | 4 Likes Like |Link to Comment
  • The Rise and Rise of Jamie Dimon [View article]
    Looks like the Administration is diversifying: Talking to JPM as well as GS.
    The accounts of the panic of 2008 are contrived to tell the story that such haste was necessary that commonsense safeguards, stipulations and responsibility were impossible. Yeah, right.
    Jul 20, 2009. 07:59 AM | 1 Like Like |Link to Comment
  • A Four Point Plan to Fix the Economy [View article]
    Sounds workable to me. But, the mortgage plan you have would be written by our present civil servants and I'm convinced they are skilled in taking proposals that have a stated headline purpose and negating that by micromanaging details so qualifying is nearly impossible.
    I believe this is a skill that Gore counted on in his tuition tax credit plan (for college education only, unfortunately) so after trying to jump the hoops, very few would qualify. Obama's mortgage aid plans are an amazing laughingstock if only the media would cover it and wake up the public.
    Our present bureaucracies are designed to leave most applicants out in the cold, to help as few as possible, in programs that, unlike foodstamps, are meant to help middle-class people get back on their feet.
    Real leaders will need to follow up the real-world applications of plans that may look good on paper.
    Jul 20, 2009. 06:44 AM | 2 Likes Like |Link to Comment
  • Pennsylvania: Another State Descends into Financial Crisis [View article]
    You have laid out the facts. I don't see how a US public used to avoiding them can, this time. I don't see how critics can refute this. Somehow a recovery comes from this, 3rd quarter? Next year? With these irrefutable facts?
    We have a president who seems increasingly Carteresque. A figurehead, over his head. But, with Clinton's corruption. This may become more obvious as the public gets frustrated with policies that are sure to fail in an economy that badly needs real solutions.
    The incumbents are almost 100% awful and complicit in the sellout of the US as they are first in line with Wall St. and all other payoffs. No doubt it will take a continual hosing of incumbents to reach conscientious candidates who can, and wish to, actually help. Americans will have to awaken from their dream state which is a real-life nightmare now.
    The enemies of middle-class America are enriched and emboldened, we are impoverished and disempowered. Dangerous times and the hour is late. We have to take the steps one by one to empty the trash with each election to bring forth decent leadership. I only hope there is time and that Americans will now listen to real leaders.
    Jul 20, 2009. 06:11 AM | 20 Likes Like |Link to Comment
  • Supporting the Financial System by Bleeding the 'Real' Economy [View article]
    Maybe DC stands for "demonic control."
    Jul 19, 2009. 06:04 PM | 2 Likes Like |Link to Comment
  • Six Signs Economy Is Turning the Corner [View article]
    From informed, realistic-sounding comments and articles I've been reading on SA like stnickb1 above, it looks like CIT was the major lender to numerous smaller businesses. Our leaders continue to "let them eat cake" by letting this one amongst the majors drop dead.
    I'm not reassured by these indicators as tax collections are in the toilet and letting CIT drop is an indicator that a fairy godmother is expected to rescue governments rather than jobs and middle-American businesses. Indicators cite din the article are mostly Wall St. monopoly games.
    I don't see how this works if voters wake up other than at the point of a gun.
    Jul 19, 2009. 05:44 PM | 2 Likes Like |Link to Comment
  • Why Isn't the Dollar Falling? [View article]
    I don't believe it has escaped the powers that be that a crisis would cause the dollar and treasuries to appreciate. Given all our policies that have thrown out so many advantages Americans once enjoyed, like, manufacturing, freedom and prosperity, I don't put much of anything past them.
    Jul 19, 2009. 08:51 AM | 11 Likes Like |Link to Comment
  • Health Care Bill: Prescription for Disaster [View article]
    Yes, a simple tax credit (whidbey) and tort reform. Too simple. Congress is either evil or stupid. No, both. Bring back King George III if we can't get better representation of our interests.
    Jul 19, 2009. 08:47 AM | 18 Likes Like |Link to Comment
  • Summers Speaks [View article]
    Political blather these days is getting to be as irrelevant as the mainstream media. You exactly get the impression that these are real people baring real opinions or soul. Or anything meaningful except that the media is trained to paw through this stuff like a dog through it's vomit.
    Jul 18, 2009. 09:32 AM | Likes Like |Link to Comment
COMMENTS STATS
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