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WMARKW

WMARKW
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  • Wall Street Breakfast: All Eyes On Jobs [View article]
    It's F-R-I-D-A-Y !!!!!!!!
    May 8, 2015. 06:38 AM | 8 Likes Like |Link to Comment
  • Wall Street Breakfast: Global Markets In Retreat [View article]
    It's taken me forever just to get caught up. Good news on GNT...I finally got caught up.

    Did you ever notice that just about the time you get a 401k check deposited to your brokerage account... the market goes down and you only have a new balance that is the same as your old balance??? Reminds me of "the hurrier I go, the behinder I get." Just saying.
    May 8, 2015. 12:18 AM | 4 Likes Like |Link to Comment
  • Straight Talk On The 4% Rule [View article]
    Thanks all for both the great article and great comments. I have gotten down to here and have not seen a comment yet (unless I missed it) on the element of NEED in the structure of one's retirement scheme.

    My need's are such that that credit union rates on our portfolio and SS will more than adequately provide an income for retirement, likely until age 100. Thus the discussion of risk can be bounced up against the element of need as well. One earlier commenter talked about mental capacity to manage a portfolio at age 90 or so. Simplification in approach means less mental capacity required.

    All in all...I am grateful for all your comments. Keep up the good work.
    May 2, 2015. 12:04 PM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Investors Await FOMC Statement, GDP Data [View article]
    The "purpose" is not the sole possession of Democrats, but is commonly shared by both parties, who in reality are simply actors on a stage, set by those behind the scenes rulers who do not stand up and take the "slings and arrows".

    We can debate monetary and fiscal policy all day long. We all know there is only "one way" fiscal policy. Balanced budgets are contractionary.

    If it walks like a duck, talks like a duck and smells like a duck...it's more than likely a duck. We should impute bad intentions, because the results indicate they spring from bad intentions.
    Apr 29, 2015. 06:52 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    Ha, Ha....don't be moronic. You or no one has indicated or presented ANY evidence that the INHERITORS run anything or make anything better than the first generation of wealth builders did. Walton's for example, are not involved in any way in the running of the business today.

    Richard...those with great managerial skills become the leaders who invent, run and build companies. Not their descendants. The precedent event is skill, not wealth. That is evidenced in a review of the owners of the Inc 500. I challenge you to find 1% of those companies that were started with "inherited family money".

    The 1% will always own the bulk of the pie, because the 99% do not have the characteristics (many good and many bad) to go after, create, compete, and maintain it.

    So hopefully you know understand that progeny is a non-meaningful component in wealth building. If anything they contribute to wealth-disintegration because they do not possess those key characteristics, or they elect to participate (like Gates and Buffet) as philanthropists.

    Richard....the real value is not in amassing wealth. The real value is in creating the enterprise that allowed you and everyone else to have a cell phone, the internet, big screen TV, etc for a fraction of the cost of the ingenuity contained therein. The value is in the fact that you and I don't have to wake at 5:00 am to milk the cows and pick the corn, because now 1% or so of the population can do it all and send it to the store for us to get.

    Will there come a day when robots do more and more of the work. Look at IBM's great thinking computer....maybe it will be doing medical diagnostics on line and we'll need fewer doctors. Who knows. But, one thing I am sure of is this....even in the future those with the above mentioned characteristics will be in the 1%.
    Apr 29, 2015. 12:21 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Investors Await FOMC Statement, GDP Data [View article]
    I am still getting 2.1% - 2.75% at local credit unions. But then...some might question if I am a Senior.

    However, I am thinking about opening a Payday Lending Store after I retire. I understand I can boost my returns to something like 80 - 100%... every quarter.
    Apr 29, 2015. 12:03 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Investors Await FOMC Statement, GDP Data [View article]
    "ZIRP harms the economy". That's the point...errr objective. Same people that run Obama run Fed.
    Apr 29, 2015. 09:05 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Markets Prepare For Week Of Central Bank Decisions [View article]
    No one in the world can afford to raise interest rates. Only those who bust their central banks (Greece) will pay high interest rates.
    Apr 27, 2015. 09:16 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Markets Prepare For Week Of Central Bank Decisions [View article]
    Ran 5 miles this morning. Followed it with a small glass of Pepsi sweetened with sugar. Ummmmmmm.
    Apr 27, 2015. 09:15 AM | 7 Likes Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    Bob123 - Ha, Ha....I can just imagine the 99% trying to run Walmart or JP Morgan. If the 99% today killed all the remaining 1%, the world would probably starve in 6 months.
    Apr 22, 2015. 06:48 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    I think Lois Lerner will be CFO of Jon's new hedge fund.
    Apr 20, 2015. 04:18 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    And another recap of the incest of this whole debacle:

    REVEALED - Corzine’s MF Global Was Client of Eric Holder’s Law Firm
    by Wynton Hall-26 Jul 2012, 6:24 AM PDT

    "Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling.

    There’s more.

    Records also reveal that MF Global’s trustee for the Chapter 11 bankruptcy retained as its general bankruptcy counsel Morrison & Foerester--the very law firm from which Associate Attorney General Tony West came to DOJ.

    And more.

    As Government Accountability Institute President Peter Schweizer explains in the Washington Times Thursday, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh. At Holder’s Senate confirmation hearing Freeh served as a character witness for Holder and revealed that Holder had previously worked for Freeh. “As general counsel,” Freeh said, “I could have engaged any lawyer in America to represent our bank. I chose Eric.”

    WMARKW- "I wonder how many "chosen" ones there are."
    Apr 20, 2015. 04:14 PM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    Ah yes....here it is. For your reading enjoyment...

    The Road Not Taken
    Attributed to J. Corzine

    Two roads diverged in the business world,
    Devoid of morals, I could only travel one.
    Thus for me there was no hurdle
    As I looked down the one so fertile
    Because stealing is so darn much fun.

    I could have taken the other road,
    But with the years the heart was set.
    No sense in carrying a guilty load,
    Guilt will make your head explode.
    Just best to take what you can get.

    With years of practice the path is known
    The lawyers and regulators are not so tough
    Their talk of “right is might,” so overblown
    Their morals have also easily flown;
    Versus money, right is never enough.

    I shall be telling this with a sigh
    Somewhere many years when old.
    Two roads diverged, no real choice, and I –
    I took the one most traveled by,
    Men whose hearts are set on gold.
    Apr 20, 2015. 04:11 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    Well, maybe Jon has been taking on-line courses in money and banking and learning all the rules that he didn't quite seem to know or understand, last time he was involved with the MF scandal. Seems he forgot about (oops didn't know) that it was against the rules to use clients money for "certain" kinds of activities. Oh well, the man without shame...

    Reminds me of a poem written about Corzine some time ago...a take on "The Road Less Traveled"... Mr. Corzine is back on the path again. I'll have to see if I can resurrect that pesky poem.
    Apr 20, 2015. 09:21 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Nokia Seals $16.6B Alcatel-Lucent Deal [View article]
    Richard - you didn't answer my question about "special monetary privileges". I suspect you don't have an answer. There are reasons, for example that dividends are taxed at a lower rate than ordinary income. There are reasons for differences in long term and short term capital gains.

    There are many good reasons for no inheritance tax at all. I don't suspect you can find a listing of people who inherited their wealth as opposed to those who created it, like Zuckerberg, Gates, Buffet, et al. There are more millionaires created each year because of business formation and expansion and going public than there are by inheritance (I have no stats, but I'd bet $1,000 on it). The premise that there are a lot of people who inherited wealth who do nothing is bogus. The inheritance taxes make short work of a large estate over 2 generations when there are 3 or 4 kids involved in each family(s).

    If you look at Inc. 500 companies and look at founders, you will find the absolute vast majority of those people started their companies from scratch. I have posted on this before.

    People who work and are fortunate enough to escape the confiscatory arm of the federal government, employed at the behest of the Federal Reserve, can have an opportunity to live a life of relative ease AFTER they retire. Most people, it would be my contention, work hard for a lot of years, and do not check out to a life of luxury at the age of 40. It's too hard to run a company and too much is at stake to not pay close attention.

    There is no such thing as "fair share".
    Apr 16, 2015. 03:27 PM | 1 Like Like |Link to Comment
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