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sean.parmelee

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  • September Nonfarm Payrolls: +114K vs. consensus +115K, +142K previous (revised from 96K). Unemployment rate 7.8% vs. consensus 8.2%, 8.1% previous. [View news story]
    The "there are no socialists in the Democratic party" meme is absurd when you consider the fact that the senator from Vermont, Bernie Sanders, self-identifies as an "Independent Socialist," caucuses with Democrats, and votes with the Democratic party on essentially 100% of issues. The Congressional Progressive Caucus is a de facto socialist party organization, whether they acquiesce to calling themselves that or not. If the word "socialist" weren't such a bogeyman in America, they would use it. Evidence for this: "Social justice," "economic justice," "education justice," etc. are all terms coined by socialists and which indisputably refer to socialist policies. But these terms have not (yet) become unpalatable in American politics, so Democrats continue to use them quite happily and publicly.

    With that said, 2MuchDebt's point that there is a mixed-government continuum from 100% capitalism to 100% socialism is exactly correct: the more welfare programs we have, and the more people who become dependent on them, the more we move away from capitalism and toward socialism. If it is absurd to say that there are no socialists in America, it is equally absurd to label all Democrats as card-carrying socialists. Some may be, but most simply favor creeping socialism.
    Oct 5, 2012. 12:23 PM | 7 Likes Like |Link to Comment
  • September Nonfarm Payrolls: +114K vs. consensus +115K, +142K previous (revised from 96K). Unemployment rate 7.8% vs. consensus 8.2%, 8.1% previous. [View news story]
    See discussion here: http://seekingalpha.co...
    Oct 5, 2012. 10:49 AM | Likes Like |Link to Comment
  • The oil market will be closely eyeing the Oct. 7 election in Venezuela, where an upset victory by Henrique Capriles over Pres. Hugo Chavez could boost the country's sagging oil output. Capriles’ recent rise has generated questions about whether oil prices would rise in the short term on the possibility that a divided election would spawn political uncertainty. [View news story]
    The implication here seems to be that Venezuela has elections...
    Oct 3, 2012. 02:03 PM | Likes Like |Link to Comment
  • Chicago PMI: 49.7 vs. 53.0 expected, 53.0 prior. Employment 52.0 vs. 57.1 prior. New orders 47.4 vs. 54.8 prior. Prices paid 63.2 vs. 57.0 prior. [View news story]
    Amazing how many people make claims like this without bothering to determine what the facts are.
    Oct 1, 2012. 02:33 AM | Likes Like |Link to Comment
  • Viewing audiences are so small for 3-D TV that ratings don't even measure a blip on the Nielsen's rating system. Despite the apparent apathy of consumers, new TVs for the holiday season are embedded with the feature and cable firms continue to put 3-D channels in premium packages. Execs with Disney (DIS +0.5%) say they are just ahead of the curve and the future for 3-D is still bright, but industry watchers can't help but note that many families with 3-D TVs don't even bother to buy the glasses needed to watch the novelty service. [View news story]
    Sometimes you really can just tell by looking at something that it's a terrible idea. I have to wonder what ticket sales for 3D movies in theaters would be like if customers weren't basically forced by a five-to-one showings ratio to buy them. I have seen a number of films in 3D and have not particularly enjoyed the 3D aspect of any of them. I absolutely cannot imagine voluntarily wearing glasses in my home.
    Oct 1, 2012. 02:10 AM | Likes Like |Link to Comment
  • Gold Miner ETFs Vs. Gold: Finding A Fair Ratio [View article]
    I have pointed out repeatedly in my comments on this site that the idea of a simple ratio between GDX and GLD is not only conceptually mistaken, it is not borne out by reality. There are a myriad of factors that determine the market price of gold miners, only one of which is the gold price itself. Also important is "gold sentiment," which is more related to the trend in gold price than in its actual value. But of course, there are plenty of non-gold factors: equity correlation, input costs (oil, borrowing, dealing with leftist governments), and more. The current rally in miners, which began in May, did not occur because of some need to "mean-revert" (miners never strayed from any mean); it occurred because gold sentiment markedly improved as gold moved out of its multi-month holding pattern.
    Sep 24, 2012. 12:31 PM | 1 Like Like |Link to Comment
  • Why QE3 Won't Jump Start The Economy [View article]
    Ellen, for me to buy your argument you have to explain how dropping $1T out of a helicopter would be any different from decreeing that all $1 bills are now $10 bills, $10 bills are now $100 bills, etc. Putting $1000 in my pocket is not going to stimulate my demand for goods when those goods now cost proportionally more. The price itself is meaningless, except in relation to my purchasing power
    Sep 24, 2012. 01:10 AM | 1 Like Like |Link to Comment
  • Why QE3 Won't Jump Start The Economy [View article]
    I fail to see how literally printing money would in any way increase the wealth of the nation. Markets and society are clearly still deleveraging from imbalances built up over decades. Inflation is not going to change the situation, but it would probably make life easier for some people and harder for others, rather indiscriminately. This is not a legitimate function of the U.S. government as authorized by the constitution.
    Sep 21, 2012. 08:01 PM | 3 Likes Like |Link to Comment
  • Sep. Empire State Survey: Manufacturing -10.41 vs. -2.0 expected, -5.85 prior. [View news story]
    My earlier comment was deleted, but I'm still wondering where bbro is. I appreciate his putting these numbers into context.
    Sep 17, 2012. 11:08 AM | 1 Like Like |Link to Comment
  • A rule banning large-size sugary drinks at New York City restaurants and eateries gains approval with the Board of Health. Though movie theaters will fall under the new plan limiting sodas to 16 ounces or less, it's anything goes at supermarkets or convenience stores. Beverage companies such as KO, PEP, MNST, COT, DPS aren't expecting to take a significant hit over the NYC ban, but would just as soon the issue keep to the Big Apple. [View news story]
    Sodastream (SODA) investors beware! Your machines will now include a tamper-proof governor that limits the total amount of soda that can be dispensed in one day.
    Sep 13, 2012. 01:19 PM | 1 Like Like |Link to Comment
  • A rule banning large-size sugary drinks at New York City restaurants and eateries gains approval with the Board of Health. Though movie theaters will fall under the new plan limiting sodas to 16 ounces or less, it's anything goes at supermarkets or convenience stores. Beverage companies such as KO, PEP, MNST, COT, DPS aren't expecting to take a significant hit over the NYC ban, but would just as soon the issue keep to the Big Apple. [View news story]
    The thinking is that you are an automaton who compulsorily ingests any and all food placed in front of you. You are neither smart enough to order a second medium, nor smart enough to have ordered just one medium in the first place. Like the five year old in California who sees a McDonald's commercial for Happy Meal toys, your biological programming instantly and inexorably compels you to get into your Big Wheels and head over to the nearest golden arches to consume. You simply do what you are told.
    Sep 13, 2012. 12:57 PM | 1 Like Like |Link to Comment
  • A rule banning large-size sugary drinks at New York City restaurants and eateries gains approval with the Board of Health. Though movie theaters will fall under the new plan limiting sodas to 16 ounces or less, it's anything goes at supermarkets or convenience stores. Beverage companies such as KO, PEP, MNST, COT, DPS aren't expecting to take a significant hit over the NYC ban, but would just as soon the issue keep to the Big Apple. [View news story]
    The dawn of the age of two-drink specials!
    Sep 13, 2012. 12:36 PM | 4 Likes Like |Link to Comment
  • Why I'm Not Afraid Of QE3 [View article]
    I appreciate your much more thoughtful followup. This is indeed precisely the debate America needs to have right now.
    Sep 13, 2012. 12:32 PM | Likes Like |Link to Comment
  • Why I'm Not Afraid Of QE3 [View article]
    "In my opinion, whether you like it or not, there's no such thing as a free enterprise system. Government exists, for better or worse."

    This is an extremely intellectually lazy argument, and one that seems out of place in the context of this article, which is not at all lazy. You're essentially saying that since anarchism doesn't work, any amount of government intervention, anywhere, is fine. That doesn't follow at all. This is the same straw man, false-choice rhetoric the current president has used repeatedly in the last three and a half years. I hate to make this about politics but I know you can do better than that, Adam. Your articles are proof of it. Retired Colonel's point was entirely reasonable and you've really not responded to it. His second post below is spot on.
    Sep 13, 2012. 11:45 AM | 1 Like Like |Link to Comment
  • The New Seeking Alpha Portfolio iPhone App [View article]
    I appreciate the response, guys. It's not common for a website this big to actually listen to what its readers think. Will continue to use the site every day!
    Sep 12, 2012. 10:58 AM | 6 Likes Like |Link to Comment
COMMENTS STATS
790 Comments
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