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BruceInKY

BruceInKY
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  • Steve Forbes: How To Bring Back America [View article]
    "Like I said, no one worth listening to talks that way." In other words LJK, you're voting for Obama no matter what.

    BTW, we call 9/11 a "terrorist attack" and the Holocaust "genocide." Glad to be of help.
    Jul 6 09:25 AM | 28 Likes Like |Link to Comment
  • Economic Outlook: Things Are Not As Good As The Headlines Would Have You Believe [View article]
    I have a 7-day-a-week retail business so I experience consumer confidence face to face. My store is in a well-established, resilient area, where up to 70% of kids attend private schools. My daily contacts include kitchen help, nursing home workers, clerical help, nurses, doctors, lawyers, contractors, bankers, teachers, other retailers, etc. They are all reacting to inflation and spending less. Every retailer is working harder just to maintain cash flow, sales volumes and market share. Meanwhile, margins and profits get squeezed as our costs rise and our dollars saved or earned are devalued by Fed-led paper-printing.

    To Mr. Flynn's point, I can only imagine that those who write the headlines a) inhabit stimulus-funded enclaves of government and high finance where the fresh money never stops flowing, or b) are handsomely rewarded for following an Orwellian career path.

    At ground level in flyover country, the plain truth is that the administration's meddling with and outright mishandling of the economy is choking US citizens from all walks of life. Take the boots off our collective necks and the merry band of Winston Smiths wouldn't have to resort to doubletalk to lower our expectations and standards.
    Feb 29 08:27 AM | 18 Likes Like |Link to Comment
  • The Great Recession Is Over: Time To Back Up The Truck [View article]
    Elephant ganja? With some Grateful Dead on the turntable.
    Jan 1 11:47 PM | 12 Likes Like |Link to Comment
  • Los Angeles sues JPMorgan for predatory lending [View news story]
    I believe the banks had to cast aside a modicum of common sense because the government was insisting they make those loans. Just because the government can bully private enterprises into irresponsible lending does not excuse Fannie/Freddie, Dodd/Frank in the slightest.
    May 30 08:21 PM | 11 Likes Like |Link to Comment
  • The Fed must fight unemployment with more aggressive policies, even if they lead to higher inflation, Paul Krugman writes: "If the Fed refuses to take even the slightest risk on the inflation front, despite a disastrous performance on the employment front, it’s violating its own charter. And, beyond that... a rise in inflation to 3% or even 4%... would almost surely help the economy."  [View news story]
    As a retailer of consumer discretionary products, I can tell Paul that price increases of 3 to 4% will cause my customers--whose incomes are not increasing and whose staple costs are already inflating--to downward adjust their spending accordingly. This will squeeze my margins and profits, discourage capital investment and hiring, and so on throughout the supply chain. In fact, that's pretty much been the pattern with BO, Turbo, and the Helicopter at the helm.

    Where do I pick up my Nobel Prize? I could use the honorarium to help take care of my family.
    Apr 7 09:23 AM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    GM is too busy running high-dollar advertising on March Madness to pay back what it owes. Every time I see that "people don't understand the Volt" spot I think how proud I am to be a complicit dupe of the UAW and the greeniacs.
    Mar 27 07:59 AM | 11 Likes Like |Link to Comment
  • Jobless Claims 344K [View news story]
    bbro, where are you?
    May 1 08:47 AM | 10 Likes Like |Link to Comment
  • Sebelius' departure confirmed following botched Obamacare rollout [View news story]
    Pays the price? How about the "reaps her rewards" in the form of taxpayer-funded six-figure annual retirement package?
    Apr 11 08:21 AM | 10 Likes Like |Link to Comment
  • These Are Bad Days For Garbage [View article]
    If you don't think "this administration" has tainted the business climate overall you are only fooling yourself.
    Apr 11 09:44 PM | 9 Likes Like |Link to Comment
  • Retail sales remain flat in July [View news story]
    In other news, the Ministry of Plenty has announced that daily rations of Victory Gin will be increased from 100ml to 75ml, effective immediately. Long live Big Brother!
    Aug 13 08:51 AM | 8 Likes Like |Link to Comment
  • Durable Goods edges up 0.1% [View news story]
    Unexpectedly? Yeah, who could've seen this coming? Food prices soaring, expensive gasoline, local, state and federal taxes up, record non-participation in the labor market, part-time jobs with no benefits for the shrinking population of people who want to work. I've got a dead dishwasher but won't even consider replacing it until I pay my property taxes.
    Sep 25 08:52 AM | 7 Likes Like |Link to Comment
  • Recently, the market learned that youth unemployment in Italy hit 40% in April to go along with a 36-year record high of 12% overall unemployment. Never fear though, Italy's trade union CGIL is out with its estimate of when the Italian economy will recover pre-crisis (un)employment levels: 2076, a mere 63 years from now. (original article[View news story]
    And yet we read news reports that Italian youth find pizza making beneath them and prefer that those jobs be filled by immigrants.
    Jun 2 10:06 AM | 7 Likes Like |Link to Comment
  • Paul Krugman: "The austerity agenda looks a lot like a simple expression of upper-class preferences, wrapped in a facade of academic rigor. What the top 1% wants becomes what economic science says we must do." Ken Langone responds: Runaway deficits are the older generation "stealing" from the young, and Paul Krugman has never met a payroll and doesn't have to worry about profit margins. [View news story]
    Paul Krugman resembles his own remark: "a simple expression of upper-class preferences, wrapped in a facade of academic rigor. What the top 1% wants becomes what economic science says we must do."
    Apr 27 08:50 AM | 7 Likes Like |Link to Comment
  • Algerian troops have stormed the gas plant in the Sahara desert that had been taken over by Islamist terrorists, killing all the militants. However, while 792 hostages survived, 23 were killed during the four-day siege. The terrorists' capturing of the facility, which is operated by Statoil (STO), BP and Algeria's state oil company, highlights the vulnerability of the operations of multinational energy firms in the Sahara. [View news story]
    Poor lame duck SecDef Leon Panetta abroad, having to mouth meaningless platitudes about how the US might respond to these events at some undetermined time in the future. If only the foreign press had followed Dear Leader's "hear no evil, see no evil" example of silence and indifference to this major terror incident.

    Back to children reading letters on youtube, comrades. Ignorance is Strength. Forward!
    Jan 20 09:04 AM | 7 Likes Like |Link to Comment
  • Jobs Shortage Equals A Poor Economic Outlook [View article]
    Thoughtful piece, Mr. Hansen. As a 20th century American who had a couple different career phases before having to invest significant capital to create my own business, I agree that the "barriers to entry" into self employment have become harder to negotiate.

    Your closing speculation about how much new economic activity is "off the books" will be topical for the next four years. At the retail consumption-and-service level, there are growing incentives to barter, trade in unreported cash, make bookkeeping mistakes, and report losses rather than profits. A rapacious government forces individuals underground before it drives the people into the streets.
    Dec 1 10:16 AM | 7 Likes Like |Link to Comment
COMMENTS STATS
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