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  • Texas Facing The Deep Breath Before The Plunge [View article]
    "Another fall, another collapse that eliminates those margins, will mean an economy that is in true pain, with Houston on the road to becoming what Detroit became after the 1970s - an industrial wasteland."

    Not likely. Houston may experience sharp pain but they are not saddled with the UAW and countless politicians buying votes by promising entitlements for the idle and the undeserving with money pried from economic producers. Thus the conditions won't be nearly as bleak for the long term prospects of recovery as they are in impossibly high-cost unionized hellhole states.
    Apr 20, 2015. 01:02 PM | 9 Likes Like |Link to Comment
  • Draghi: Euro is irrevocable despite Greek problems [View news story]
    "Whatever happens to Greece the voters of the world are watching. If Greece goes bankrupt and reemerges with a roaring economy American voters will want the same thing."

    Iceland did just fine flipping off bankster "creditors" rather than transferring these blown-up obligations to the taxpayers. It's really simple, it's obvious right in front of our faces, it just happened and it was very successful for the middle class of Iceland.

    That's why we never hear about it.
    Apr 20, 2015. 09:27 AM | 2 Likes Like |Link to Comment
  • The Real State Of The Typical Consumer [View article]
    "The American people are not paupers."

    Not so much the bottom 4 quintiles who own only approximately 20% of total wealth of Americans. Plus much of the wealth is on paper and is dependent upon the continuation of leverage and societal indebtedness rising further into unprecedented stratospheres or failing counterparties on financial paper held mostly by the weathy will once again "require" further mitigation by the taxpayer and central bank balance sheets and printing presses. And these seem rather stretched at the moment even after all these years of "recovery" and ZIRP enhancement of financial paper prosperity.

    The truth of the budgets of Main Street Americans actually gets too little attention amidst often farcical government statistics and media cheerleading because the top quintile has never had it better, but cracks in the prospects of loan payback in the real economy are rightly pointed out in this article.
    Apr 13, 2015. 08:45 PM | 4 Likes Like |Link to Comment
  • How GameStop Avoids The Ghosts Of RadioShack [View article]
    Apple stores exist yet they discontinue any support for devices over 7 years old. And their offerings are expensive, so there may be a viable opportunity for the Game Stop business model to cater to a less-well-heeled crowd that is willing to pay for used Apple products with some available reconditioning, support and service but whose budgets fall below the Apple Store demographic.
    Apr 13, 2015. 07:50 PM | Likes Like |Link to Comment
  • Twitter Squashes The Cockroach [View article]
    "anyway, hmmmm, network production qualities or some dude's shaky phone view?"

    People, particularly young people, are moving away from traditional overpriced media offerings such as cable TV with interminable commercial breaks in favor of low- and no-cost alternatives that are increasingly possible on the internet. And, many events and games are not offered or are blacked out. And viable local acts and events may gain an advantage that can build via the improvement in access and alternatives that technology is competing and racing to offer.

    Also, people will learn and products and services will be offered to improve the production qualities of the "shaky phone view."
    Apr 10, 2015. 07:25 AM | Likes Like |Link to Comment
  • Bernanke Supercycles [View article]
    This article possibly hits on more central points of the ongoing economic debacle, I mean, "recovery" than any other.

    Yes, "stimulating" "aggregate demand" and all other vast contrivances of the little people with vast power behind the curtain has not lived up to expectations especially given the epic distortions and debt assumed such that "none of this has worked to the point that even its prior proponents are either admitting serious deficiencies (secular stagnation) or changing the nature of their association with it."

    Inefficiency and rebuilding the same failed structures as prevailed in 2005 is favored over "dynamic reconstruction." Thus, "the mechanism for unifying the business 'cycle,' as what was marked for destruction by the initial recession was instead propped in place by the financial power of monetary policy."

    Vast debt has been made available to the interests which need to scale down, be it junk-financed business, bloated governments, and TBTF corporations in and out of Wall Street, adding uselessly to "GDP" calculations outside privileged interests as private employment and compensation wither on Main Street. Naturally the empty suits who have brought us to this sorry pass are no longer taking responsibility for their failures as Milton Friedman once did, since the US economy they have presided over would now be such a cold and hostile environment for them if they had to find real work at prevailing levels of compensation in it.
    Apr 8, 2015. 09:54 AM | 1 Like Like |Link to Comment
  • The Bizarre 70s Require Reverse Economic Engineering [View article]
    Hillary has a record as a remarkably successful commodity futures trader. Having multiplied her initial stake by 100X in just over a year, she amassed a record that is almost impossible to believe. Impressive credentials. Just trust her.
    Apr 7, 2015. 08:59 AM | Likes Like |Link to Comment
  • The Bizarre 70s Require Reverse Economic Engineering [View article]
    Actually Mr. Perry's proposal that legislatures meet only on alternate years is one of the best and most underrated proposals out there.

    Connecticut once built it's way to prosperity by having only a small government overhead until the 1970's and no income tax. This was shattered when the legislature began to meet every year and the budget quickly tripled and beyond during the 1980's.

    If politicians were forced to maintain a serious portion of their careers outside of government in the economy and among the people their laws affect, many might receive a much-needed reality check on the reality of the too-often unintended effects and burdens their nonstop legislating creates.
    Apr 6, 2015. 09:50 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Stock Futures Drop On Weak Jobs Numbers [View article]
    "Here is what is wrong with our economy - "

    To which we can add growing character deficiencies as generation after generation after generation in vast and growing numbers of families has never had a plan outside of receiving government checks for kids born out of wedlock, too often starting in high school.

    College graduates are not only graduating with useless degrees and high debt loads but with educations that hardly fit the term as the incredibly high cost of public education brings forth alarming and growing numbers of functional illiterates even among the declining percentages of "graduates," and those who go on to college often never catch up since the bottom line of government loan money padding careers at dysfunctional and/or overpriced colleges is the bottom line anyway.

    The US economy is becoming too much a feeding frenzy for anyone who can work a scam which apparently will continue until printed dollars and unserviceable debt to finance the fraud finally succumbs to a major loss of con-fidence.
    Apr 6, 2015. 09:27 AM | 7 Likes Like |Link to Comment
  • The Bizarre 70s Require Reverse Economic Engineering [View article]
    The best way to actually finance the repair and upgrade of US infrastructure which somehow manages to escape the attention of our government while it grows larger and more excessive with each passing year even during 2008-9 when "shovel-ready" projects were loudly announced in response to the first $1trillion+ deficit, is to abolish the US Departments of Education and Energy.

    Anyone who is familiar with their operations is aware of the profound dysfunction and waste they produce to create "important careers" for countless bureaucrats, academics with useless degrees and lawyers while US education descends further into incredibly expensive mediocrity and recent improvements in the energy bills of Americans occur DESPITE decades and tens of $billions of annual spending by the Department of Energy created to foster "energy independence" in the 1970's.
    Apr 6, 2015. 07:53 AM | Likes Like |Link to Comment
  • The Bizarre 70s Require Reverse Economic Engineering [View article]
    Not sure how large the deficits of government have to be to satisfy advocates of ever-more government (a $trillion used to seem like a large sum) but surely better uses could be found for the sheer levels of waste, fraud and abuse that are inflicted on private enterprise using our tax dollars, most notably, by letting private sector earners keep more of our own money.

    Misdirection and malinvestment are as rampant as they are BECAUSE of bloated government and it's distorted incentives in so much of the "private" sector and this metastasizing nonproductive waste has been the major factor in submerging the economies of the West which are now faced with peak debt attempting to finance it.

    Only products and services produced at a profit to willing buyers free to choose can bring rationality, solvency and competitiveness back to Western economies which are suffering from fatal levels value-reduction activities across far too broad a spectrum thanks to such excesses of economic "activity" that is politically motivated that the levels of corruption and associated symbiotic Wall Street and multinational corporate financialism no longer allow for recognizable recovery.
    Apr 5, 2015. 10:06 PM | 1 Like Like |Link to Comment
  • $100 Million Wasted By Overstock [View article]
    It's a shame to see yet another instance of rogue corporate governance serving itself at the clear expense of cultivating and growing the actual business. OSTK has shown signs of promise off-and-on for a long time but these latest antics by it's management shows that too-little has changed for the betterment of the company.

    Consider this wanton extravagance a ringing of the bell near the top for this company and a small sign that may tend to signify that the grandiosity of major American corporate management may be reaching it's rendezvous with limits on it's insatiable lust to be pampered.
    Apr 5, 2015. 12:35 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Eurozone Manufacturing Data Adds To Recovery Hopes [View article]
    "What justification do you have for the measly pay that Steve Jobs got for taking Apple from near bankruptcy to nearly a $1T valuation?"

    Steve Jobs was one of the few CEO's who resembled an entrepreneur worth almost any compensation rather than a glorified, glad-handing manager posing as an above-average entrepreneur, which the payscale of CEO's now reflects many times over. This, whether company stock gains, now usually via buybacks and increased company debt, or declines, which seems always "beyond their control" and which is generally mitigated via mass employee layoffs and terminations below. These have been on a one-way ratchet for decades, fueling an incestuous executive compensation binge that is as corrupt and excessive as the massive increase in government spending and overreach has been during the same time.

    Steve Jobs did receive stock options which were worth plenty thanks to his stellar and historically significant contributions to company success rather than to to usual massive corporate stock buybacks.
    Apr 1, 2015. 12:26 PM | 3 Likes Like |Link to Comment
  • Central Banking Refuted In One Blog- Thanks Ben! [View article]
    We can thank David Stockman for another fine treatise that rather thoroughly demolishes the obscene financial fraud perpetrated by the monetary politburo with their legions of state planners, rent seekers and educated fools and whores who profit at the expense of the once-vaunted relatively free-market capitalist system that had elevated the US to competitive primacy in the world.

    When the dust settles on this latest and historically the largest and most comprehensive exercise in ponzi economics and price fixing ever, the usual suspects will be loudly demanding bailouts and even more special dispensations as their due. This time there may be no Santa Claus or tooth fairy rich or foolish enough to repair the economic carnage they have wrought and falsely save them from true price discovery yet again.
    Apr 1, 2015. 10:05 AM | 9 Likes Like |Link to Comment
  • Complacency Reigns Supreme - Nothing Can Possibly Go Wrong, Right? [View article]
    "Japan is, however, going on its 3rd decade. Whatever (highly improbable event) it is, it is doubtful it will be financial."

    Japan ran perpetual huge trade surpluses until recently. Plus, most of it's 30 years of extend and pretend on the public credit card designed to save TBTF institutions occurred during a time when the world economy was expanding rather nicely.

    Nothing has been accomplished, resolved or solved by this vast and fraudulent mispricing of leveraged risk on the backs of the taxpayers except for the enrichment of gamblers, financial asset holders and the buildup of an impossibly large and still-expanding public debt. How does that make it a safe or even a desirable policy for the US to follow?
    Apr 1, 2015. 08:48 AM | Likes Like |Link to Comment