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  • Don't Be Fooled, Gold Will Soar In 2012 [View article]
    I wouldn't invest. I would buy 3% of your net worth as an insurance policy, without any expectation of ever selling it for a profit.
    Dec 23, 2011. 03:25 PM | 1 Like Like |Link to Comment
  • The Plight Of The 1% [View article]
    153972...Thanks again for your reply. It seems we could go on forever, and when I see SA articles that fall into a debate between two participants, I generally check out.

    You have some good observations and once again, I will simply point out that most of them are a statement of symptoms rather than solutions, although you focus on such in you last paragraph. Nevertheless, and this will be my final comment, your solutions in the next to the last sentence are simply tax more and spend more on the same things we spend money on right now.

    The problem is our leaders spend but don't produce results. To give them more to spend (taxes won't actually do that when we are in a deficit mode) only means they spend more just as foolishly as they have been spending for decades.

    I would advocate for example: Government subsidized education for science, math, engineer, doctors and nurses. That means basically free if you meet certain qualifications. There would be no student loans for these people, no education debt.

    I would advocate paying for education and skill enhancement vs. paying for unemployment benefits. Spend the same money, but you gotta be enrolled in something that will get you a job.

    Someone smarter than me has to figure out how to keep kids in school until the master the skills they need.

    I would blow up the poppy fields in Afghanistan and pay the Afghan farmers money and equipment to learn to grow something beneficial.

    Etc, etc.

    Thanks for forcing me to think and articulate.
    Dec 23, 2011. 03:19 PM | 2 Likes Like |Link to Comment
  • The Most Important Economic Chart Of The Year [View article]
    And Germany is the Big Winner...... Alles Gut in Deutschland, Ja!

    Isn't it true that the big boys all ways beat up on the little boys.
    Dec 22, 2011. 06:17 PM | Likes Like |Link to Comment
  • The Plight Of The 1% [View article]
    Mary....I say once again to your comment. If the 99% are not represented by those they vote for today, how do you/they ever expect to change anything? What will you/they press forward to accomplish and who will be your voice? If you can't change the political system at the ballot box you have a struggle ahead that will require much more than the effort to go to the caucus meetings, select candidates, and go to the polls on election day.
    Dec 22, 2011. 05:31 PM | 1 Like Like |Link to Comment
  • Jamie Dimon joins billionaires to defend themselves and the 1% against "acting like everyone who’s been successful is bad and because you’re rich you’re bad." Josh Brown's retort: "No, we don't hate the rich. What we hate are the predators... America hates unjustified privilege, it hates an unfair playing field and crony capitalism... it hates rule changes that benefit the few at the expense of the many."  [View news story]
    Bob....I will not respond except to your point c.)

    We already have a class of super rich, though one might argue there are many in other parts of the world whose wealth rivals if not exceeds the US participants.

    So, in my view, it is not so much about restraining or constraining those who are already part of that class. The only way to undo the situation for them is take it away via estate taxes, which I am opposed to for a number of reasons, one of which suggest that, like lottery winners, second and third generation inheritors lose it or dilute and distribute such wealth to the point it is watered down and those generations fall out of the group.

    What it is about, IMO, is teaching the non-participants the things they need to know to elevate their chances of successfully participating in the so called "American Dream". It's been a while since I was in the public school system, or had kids in the system....but I suspect they do a very poor job on that task. As an example, my daughter's former high school, against the wishes of her parents, authorized work release for her in her senior year to go to work for ...... Taco Bell.
    Dec 22, 2011. 05:23 PM | Likes Like |Link to Comment
  • U.S. Treasuries To Be Avoided At All Costs [View article]
    I concur that the US doesn't need to sell treasuries to fund government operations. My comment was really a supply vs. demand comment in the availability and market demand for treasuries. Assuming there are $15 trillion of treasuries outstanding, if China elects to stop investing in US treasuries (while it may have no impact on US ability to spend money) it may simply mean that to induce a buyer to take their position they may have to lower the price. Simply speaking, if there were a safer alternative, the market for US treasuries would seemingly require higher interest rates to induce buyers to purchase them.
    Dec 22, 2011. 04:27 PM | Likes Like |Link to Comment
  • The Plight Of The 1% [View article]
    153972 - Thanks for your reply.

    "In both books they advocate higher taxes on the wealthy to assist in achieving their growth economic plan, which I mostly agree with. "

    First I truly question Mr. Reich's ability to propose any solutions. The nature of this comment suggest that "their" economic plan is a good one and that we should all get on board. The politicians have had decades to "show us the money" in terms of success and have been utter failures. Their plan is debt enslavement and not economic prosperity for all.

    Secondly, you neglect the proven fact that 23% of GDP is a max on tax revenue. No matter what you do with rates you will not get better than 23%. Revenues today are down primarily due to recession and unemployment. Higher taxes will not make a balance sheet recession disappear.

    "many of his employees and upper management went to public primary, middle, secondary, college and post graduate schools at the public expense." And a large portion of that expense was paid for by....the very people who used the educational system through their OWN personal property taxes. The public school system (hobbled significantly by Federal government intervention) is primarily a system that belongs to local users. Thus it is out of bounds of a discussion of income taxes, particularly wealth taxes.

    And while I omit any discussion of the highway infrastructure that HD takes advantage of, I also omit any discussion of the motor fuel taxes that HD's vendors and customers pay for the use of those systems, presumably a proportionate payment to the benefit that they get out of it, not to mention the raping of the highway tax trust fund by the politicians in DC.

    I might well be supportive of a 60's style income tax structure, but even under such structure there were still capital gains taxes and estate taxes that allowed the "oligarchs" to survive and thrive, so your 60's structure is no where near what the 99%ers have in mind in the way of wealth confiscation.

    All the things you describe as "revolution" inciting are in fact issues that should be handled via the 3 branches of government we have. Fix the problems that are underlying. Do you think if your raise capital gains taxes or estate taxes it will eliminate crony capitalism, no bid contracts, and poverty. I think no. Fix the laws that deal with crony capitalism. Fix the school system. Pay people to get an education instead of 2 years of unemployment benefits.

    There is no reason to tax corporate income. I could defend that with 5 more paragraphs. Just consider what a corporation does with residual un-taxed income.

    Sworn to protect the Constitution and enemies "foreign" and "within". I am not saying that the politicans will gladly use the military, etc to defend themselves in dispicable ways. I am not saying some of them don't deserve a second thought re: protection. In fact I rather like the book by Vince Flynn called "Term Limits".

    So there are a lot of ways to produce results. Higher taxes is does not necessarily produce anything. It all depends on how the government chooses to spend money....and today... they are complete and utter failures.

    Dec 22, 2011. 04:15 PM | Likes Like |Link to Comment
  • James Kostohryz Positions For 2012: 100% Cash The Only Way To Play This Market [View article]
    Perk....seems we now prize "un-common sense", aka "nonsense".
    Dec 22, 2011. 03:41 PM | 2 Likes Like |Link to Comment
  • James Kostohryz Positions For 2012: 100% Cash The Only Way To Play This Market [View article]
    From now on, whenever I give you a "Like", I will also give you a "doubleplusgood".
    Dec 22, 2011. 03:40 PM | 1 Like Like |Link to Comment
  • What The European Long-Term Refinancing Operation Really Is About [View article]
    "unlikely to lead to more private sector credit"

    Haaaaa, Haaaaa. Rolling over. If anyone thinks the banks are interested in providing credit to the private sector at this time that's a Tonight Show joke. Banks are interested in saving themselves by making risk free returns using the backstop funding provided by sovereign Central Banks. The only thing they need the consumer for is their deposits.
    Dec 22, 2011. 03:38 PM | 1 Like Like |Link to Comment
  • FINRA slaps a $3M fine on Barclays (BCS) for misrepresenting historical delinquency rates for three subprime mortgage securities it underwrote and sold during 2007-10 by posting inaccurate data on its website.  [View news story]
    Wow....that's huge !!!! $3 million...I am sure that will be a dis-incentive for future criminal actvities. Perhaps $30 Billion would have been more appropriate. What a colossal JOKE !!!
    Dec 22, 2011. 03:35 PM | Likes Like |Link to Comment
  • James Kostohryz Positions For 2012: 100% Cash The Only Way To Play This Market [View article]
    Perkins....if you are a contrarian, the backpack suggest you could be carrying around a life's worth of baggage. An optomist would suggest that the backpack represents a life of learning and the great pearls of wisdom and golden nuggets of knowledge. that Zen or what!
    Dec 22, 2011. 03:17 PM | 2 Likes Like |Link to Comment
  • James Kostohryz Positions For 2012: 100% Cash The Only Way To Play This Market [View article]
    To amplify....the DUMB money are the big banks who could not even manage their own investment portfolio to avoid catastrophic losses requiring Fed and Sovereign intervention to ensure their survival. Had these guys been allowed to fail, how many fewer eternal "bull" market hawkers would there be?
    Dec 22, 2011. 03:14 PM | 5 Likes Like |Link to Comment
  • U.S. Treasuries To Be Avoided At All Costs [View article]
    So long as the US Treasury is willing to lend and "safe haven" buyers are desirous of buying an instrument that will gurantee a return of principle, then those instruments will be bid up in price resulting in lower rates. When foreign investors decide to abandon (if they ever do) the US Treasuries, then rates will go up.
    Dec 22, 2011. 03:11 PM | 2 Likes Like |Link to Comment
  • U.S. Treasuries To Be Avoided At All Costs [View article]
    Hey....not mine to explain. All I said was I can't / don't pay attention to a "rigged" bid process, where the primary dealers are required to make a market for the US government securities.
    Dec 22, 2011. 03:08 PM | Likes Like |Link to Comment