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BruceInKY

BruceInKY
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  • While much attention has focused on averting the fiscal cliff, the U.S. is just $66B below its $16.4T debt ceiling, which it's due to hit towards the end of the month. Treasury would then embark on some fiscal maneuvering that could buy it another 6-10 weeks. As with the fiscal cliff , Republicans want cuts to entitlement programs before agreeing to increase the debt limit again. [View news story]
    russellb, I thought we'd declared victory in Iraq and exited that theater. Two minus one equals?

    That would leave the money pit of Afghanistan, where we are not exactly at war with our enemies but keep troops deployed in harm's way. Incidentally, how about those 20 F-16s Obama Claus is gifting to Egypt? I hear some (R) members of Congress are opposed.
    Dec 16 10:14 AM | 3 Likes Like |Link to Comment
  • With GDP growth tepid due to low private and business demand, "the case for expansionary fiscal measures, even if they increase the deficit temporarily, is compelling," says ex-Clinton economic adviser Laura D'Andrea Tyson. "Spending in areas like education and infrastructure...have large multiplier effects on the current level of output and employment and strong returns over time." [View news story]
    What is being multiplied are the problems, not the solutions. My local school board has one of the largest fleets of buses in the nation, a billion-dollar budget, and steadily declining standardized test scores.
    Dec 16 09:59 AM | 3 Likes Like |Link to Comment
  • General Electric: A Sleeping Giant Poised To Double [View article]
    RS, my family is way long GE for a long time. I want the company to have a favorable corporate image and to perform well.

    But by simultaneously sucking up to Obama and not answering the "GE pays no taxes" charges Immelt is indeed personally responsible for tarnishing the brand here in the US. Just like the bailout soils GM's name, and the Gulf spill still taints BP's reputation. A key difference, however, is that Immelt is widely seen as the face of the company; I'm not saying that is the case worldwide, but he is a wet blanket here. No hater here, but not a fan either.
    Dec 12 04:51 PM | 3 Likes Like |Link to Comment
  • General Electric: A Sleeping Giant Poised To Double [View article]
    Your marketing genius has managed to equally tarnish the brand in the US in the minds of conservatives, progressives, and low-information voters alike. He needs to stay out of the news and away from the White House dog-and-pony shows.
    Dec 12 03:44 PM | 2 Likes Like |Link to Comment
  • U.S. economic confidence continues its post-election fade, says Gallup, whose index slides to -16 for the week ended Dec. 9, from -12 previously. The numbers jibe with the University of Michigan survey and this morning's NFIB report showing respondents clearly shaken up by the election results and subsequent fiscal cliff chatter. [View news story]
    Wait until people compare the withholding on their January checks to their December pay stubs.
    Dec 11 09:02 AM | Likes Like |Link to Comment
  • Is A Chance To Buy Apple At $400 Coming Soon? [View article]
    A lot of new noise on SA, and a laser-like focus on AAPL.
    Dec 11 12:58 AM | Likes Like |Link to Comment
  • Ed DeMarco surely looks out as FHFA director as the White House leaks its intention to nominate a replacement early next year. DeMarco has made no friends in the administration, refusing to sign off on its hope of a principal-reduction program for mortgages. Principal reductions could mean big losses for owners of MBS - mREITs, banks, and the Fed (only one of whom probably doesn't care). [View news story]
    Good for the banks and perhaps some realtors, not for the homeowners who've lived within their means.
    Dec 10 09:57 PM | 1 Like Like |Link to Comment
  • Japan's Q3 GDP shrinks at an annualized pace of 3.5%, worse than a forecast of -3.3%. With the government revising Q2 from growth to slight contraction, it puts the country technically in a recession. The current account surplus slides to ¥376.9B in October, a bit better result than the expected ¥218B, but off 25% from a year ago. [View news story]
    Massugu ni itte! (Forward!)
    Dec 9 10:19 PM | Likes Like |Link to Comment
  • The Bloomberg Consumer Comfort Index slides to -33.8 from -33 previously. Averaging -38.6 YTD, this could be the first time the index will be above  -40 - a level associated with severe economic distress - for a year since 2007. The -34.5 average thus far for Q4 is the best since Q1 2008. [View news story]
    It's Bush's fault!
    Dec 7 10:23 AM | Likes Like |Link to Comment
  • Dec Reuters/UofM Consumer Sentiment: 74.5 vs. 83.0 expected and 82.7 prior. [View news story]
    Wait until consumers get a good luck at their January paychecks and--especially for those lucky enough to have employer-provided health insurance--they start comparing total withholding to December. Pour a glass of Victory Gin, comrades, and march Forward!
    Dec 7 10:22 AM | 1 Like Like |Link to Comment
  • The number of Spaniards registering for unemployment benefits grows for the fourth consecutive month in November, increasing by 1.5% M/M to 4.91M. The rise of 74,296 is well above the 59,536 increase in November last year. With new rules making it easier to fire workers and nationalized banks set to close branches, the job stats look set to get even worse. [View news story]
    If you want to know what happens when a government throws away revenue trying to build a green carbon-capped economy for the 21st century, look no further than Spain.
    Dec 4 03:00 PM | Likes Like |Link to Comment
  • After voters approved tax hikes for the rich in the recent election, California’s Legislative Analyst’s Office is forecasting that the state will enjoy a surplus of $1B by FY 2014-2015. Critics says the increases will lead to an exodus of residents, businesses and jobs, although Governor Jerry Brown's office points to a report which says that the link between tax policies and migration are untrue. [View news story]
    Zero.
    Dec 4 08:46 AM | 2 Likes Like |Link to Comment
  • After voters approved tax hikes for the rich in the recent election, California’s Legislative Analyst’s Office is forecasting that the state will enjoy a surplus of $1B by FY 2014-2015. Critics says the increases will lead to an exodus of residents, businesses and jobs, although Governor Jerry Brown's office points to a report which says that the link between tax policies and migration are untrue. [View news story]
    Hollyweird saves the day! (As if that documentary will ever be produced.)
    Dec 4 07:06 AM | Likes Like |Link to Comment
  • "There are two enormous problems with the story that manufacturing is returning to the U.S.," writes Felix Salmon. "(A) It’s not creating many jobs, and (b) the jobs it is creating are not the good jobs which people want to have for many years. Instead, they pay $15ish per hour, which is what teenage babysitters make in New York." [View news story]
    Glad to see you maintain an emotionless approach to your portfolio and save the hyperbole for the comments.
    Dec 2 08:23 PM | 1 Like Like |Link to Comment
  • "There are two enormous problems with the story that manufacturing is returning to the U.S.," writes Felix Salmon. "(A) It’s not creating many jobs, and (b) the jobs it is creating are not the good jobs which people want to have for many years. Instead, they pay $15ish per hour, which is what teenage babysitters make in New York." [View news story]
    Your second paragraph describes GE Appliances perfectly. To EMS below, see above. As a GE shareholder, I wish your opening salvo was as accurate a portrait.
    Dec 2 11:43 AM | Likes Like |Link to Comment
COMMENTS STATS
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