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sean.parmelee

sean.parmelee
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  • Now's the time to end the mortgage interest deduction, Amity Shlaes argues; the housing industry's old canard about such a move destroying the market doesn't hold much water - we're already there. People actually "might well invest more in houses than we imagine if, for once, they know what those houses are really worth." [View news story]
    Never eliminate existing programs. Never take away existing entitlements. Always create new programs. Always create new entitlements. No hope for real change.
    Sep 1, 2012. 02:05 PM | 2 Likes Like |Link to Comment
  • Now's the time to end the mortgage interest deduction, Amity Shlaes argues; the housing industry's old canard about such a move destroying the market doesn't hold much water - we're already there. People actually "might well invest more in houses than we imagine if, for once, they know what those houses are really worth." [View news story]
    That's a fair point. Our government cuts taxes for one group, through a deduction or simply outright, and then never makes up the difference. But that is not how government ought to work, neither in your mind nor in mine, so the point is moot. In a rational government that takes in no less than it pays out, tax deductions are a transfer of wealth.
    Sep 1, 2012. 02:03 PM | Likes Like |Link to Comment
  • Times Like These: Love The Bernank! [View article]
    I don't think you can draw flat support and resistance lines on a leveraged ETN like that. It's constantly losing money, so any such line would necessarily be downward sloping.
    Sep 1, 2012. 11:28 AM | Likes Like |Link to Comment
  • Gold, silver, and crude are believers - all sharply higher following what's now being interpreted as Bernanke setting the stage for more stimulus at the September FOMC meeting. GLD +1.3%, SLV +2.5%, USO +1.6%[View news story]
    On big news days, if you watch the intraday movements of stocks, gold, oil, etc., gold seems to consistently be the "dumbest" of the markets. Fade the rally, but who's to say when it will put in a short-term top. Hopefully, this was it for now.
    Sep 1, 2012. 11:25 AM | Likes Like |Link to Comment
  • Now's the time to end the mortgage interest deduction, Amity Shlaes argues; the housing industry's old canard about such a move destroying the market doesn't hold much water - we're already there. People actually "might well invest more in houses than we imagine if, for once, they know what those houses are really worth." [View news story]
    They are so welfare, because they're paid for by higher taxes on those without mortgages. Consider this example: a young person who just got out of college will pay a higher tax rate so that his parents, who have a higher standard of living than him, can pay a lower tax rate. Same as paying a higher tax rate so that your wealthier neighbor with a Prius and new appliances can pay a lower tax rate. The list goes on.
    Sep 1, 2012. 11:20 AM | 2 Likes Like |Link to Comment
  • Bernanke: No new stimulus measures are outlined, but as usual, he says the Fed stands ready to act as needed. The cost of non-traditional policies (QE) "appear manageable." The economy is "far from satisfactory," and labor market stagnation creates enormous suffering. [View news story]
    The point being that there's not going to be any significant new actions from the Fed unless there's a significant new downturn. This is a simple concept.
    Aug 31, 2012. 10:17 AM | Likes Like |Link to Comment
  • Bernanke: No new stimulus measures are outlined, but as usual, he says the Fed stands ready to act as needed. The cost of non-traditional policies (QE) "appear manageable." The economy is "far from satisfactory," and labor market stagnation creates enormous suffering. [View news story]
    I'm shocked, shocked I tell you!
    Aug 31, 2012. 10:06 AM | 2 Likes Like |Link to Comment
  • Bernanke: To Print Or Not To Print...? [View article]
    As I said, there are multiple factors that influence prices, and inflation from monetary policy is only one of them. Healthcare and college tuition costs are skyrocketing because there is no real market for either one. In both cases, government policies (tax treatment of insurance, federal student loans) are directly responsible for the bulk of the increases. This has nothing to do with inflation.
    Aug 30, 2012. 09:33 PM | Likes Like |Link to Comment
  • Bernanke: To Print Or Not To Print...? [View article]
    Not to defend professor troll there, but the primary factors increasing crude, food, healthcare and college tuition prices have nothing to do with inflation.
    Aug 30, 2012. 09:13 PM | Likes Like |Link to Comment
  • How Will Gold React To Bernanke's Speech At Jackson Hole? [View article]
    1. Read the author's statement more carefully. No, flatish unemployment is not a downturn, by definition.

    3. The stock market already took out multi-year highs. I don't know what other indicators besides SPX you think Bernanke can influence that would cause your average voter to think things are doing swell.

    4. Again, read the author's statement more carefully. Upward revisions and flatish-to-up GDP growth is the definition of stability, even if the numbers are lower than we'd like.
    Aug 30, 2012. 08:24 PM | Likes Like |Link to Comment
  • The Miners Have Outperformed Gold And Silver; 3 Stocks That May Outperform Platinum [View article]
    I'm not at all clear why irrational gold mania isn't a more convincing explanation for gold's price being higher than platinum's. Ratios work both ways, you know.
    Aug 30, 2012. 08:10 PM | Likes Like |Link to Comment
  • Lexmark (LXK +13.2%) soars after announcing plans to exit inkjet printing and step up its stock buybacks. The company has had a rough year thanks to bad earnings news and poor industry demand. Interestingly, 3D printer vendors Stratasys (SSYS +2.4%) and 3D Systems (DDD +2%) are also trading higher, though Lexmark hadn't applied its inkjet tech to making 3D printers. H-P (HPQ) and Xerox (XRX) stand to gain inkjet share due to Lexmark's move. [View news story]
    That, or the mutual funds that dumped SSYS and DDD just figured out that 3D printing as an industry is not contingent in the long run on ADSK's outlook.
    Aug 28, 2012. 10:24 AM | Likes Like |Link to Comment
  • Stratasys (SSYS -5%) and 3D Systems (DDD -3.7%) could be two more victims of Autodesk's Q2 report. Product designers often use the companies' expensive 3D printers in tandem with Autodesk's CAD software. (more on ADSK[View news story]
    Sweet vindication today. Thanks for the money, mutual funds.
    Aug 28, 2012. 10:19 AM | Likes Like |Link to Comment
  • Take profits (for now) in the gold miners, says Weeden's longtime bull on the sector, Michael Purves, who sees the GDX's 8.8% August rally topping out around $47/share. This is strictly a trading call as Purves remains "structurally bullish" on the sector, saying the miners having a new attitude about "sharing the wealth" with investors. [View news story]
    Gold continuing to look overheated at these levels, especially with a likely Jackson Hole disappointment. DZZ (or DGLD) and DUST will appreciate handsomely.
    Aug 28, 2012. 12:00 AM | Likes Like |Link to Comment
  • It's Not Too Late To Ride The Bounce In The Gold Miners; How To Play It Right Now [View article]
    Nice, DUI, fleeing the scene of an accident (probably also drunk), Medicaid fraud. No wonder the guy constantly lies about his finances. Clear sociopath.
    Aug 25, 2012. 03:42 PM | Likes Like |Link to Comment
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790 Comments
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