Here are few things I get tired of having to constantly post to remind people of facts: 1) Adam Smith advocated for the rich paying higher taxes: http://en.wikipedia.org/wiki/The_Wealth_of_Nations#Book_V:_Of_the_Revenue_of_the_Sovereign_or_Commonwealth 2) Don't blame Clinton or liberals for the repeal of Glass Steagall. There is certainly a lot to legitimately blame liberals for, but the repeal of the important parts of Glass Steagall, which separated regular banking from investment banking (aka, gambling), was the Gramm Leach Bliley Act, sponsored by Republicans and passed by a Republican-majority congress with a veto-proof vote in 1999. Note than many Democrats shamefully voted for it as well, but it certainly wasn't their idea. http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act 3) Don't blame CRA for the housing crisis. While it ultimately may not have been a very good idea, the CRA was a laughably *minor* contributor to the crisis. The evidence of this is overwhelming. Even the WSJ admits it. Even Fox News doesn't tout this anymore because it'd be like claiming that gravity falls up. CRA certainly makes for an "easy" scapegoat (those darn poor people, it's all their fault!!), and but the facts don't support that argument. The overwhelming majority of subprime loans (2/3 or more) were made by private banks not subject to CRA. Worse yet, among subprime loans, the actual CRA loans were MUCH less likely to default to private banks' subprime loans. http://blogs.wsj.com/economics/2008/12/03/feds-kroszner-defends-community-reinvestment-act/ http://blogs.wsj.com/economics/2008/12/04/dont-blame-cra-the-sequel/ http://www.frbsf.org/publications/community/cra/cra_lending_during_subprime_meltdown.pdf http://www.businessweek.com/investing/insights/blog/archives/2008/09/community_reinv.html http://en.wikipedia.org/wiki/Community_Reinvestment_Act#Relation_to_2008_financial_crisis And look what happened to countries that didn't have the CRA -- they were even worse: http://housingstory.net/2010/07/28/the-aftermath-of-the-global-housing-bubble-chokes-the-world-banking-system/ ---------------------------------- Now, my bio! Yes, I'm smarter than you, especially if you're fat, bald, and extremely close-minded. ;-) My positions on the state of the markets are summed up nicely in a recent article: * Regulate CDS as insurance, with a requirement of insurable interest for the buyer, and adequate capital for the seller. * Reinstate Glass-Steagall * Apply a Transaction Tax, sufficient to deter HFT * Impose Position Limits, both individual and collective, sufficient to maintain to volume of commodities futures trades in some meaningful relationship with the amount of the actual commodity in circulation or production. * Outlaw synthetic securities * Restrict MBS and other securitizations to simple structures, with wide tranches. * Extend the statute of limitations for securities fraud and misrepresentation in the Securities and Securities Exchange Acts to seven years. * Impose obligations on market makers and liquidity providers sufficient to compensate for the privileges and exemptions they receive. * Develop international standards for regulation, strong enough to end regulatory arbitrage. (article written by Tom Armistead)
Mr. A. Paul Gill has been the CEO of Lomiko Metals Inc. TSXV: LMR, OTC: LMRMF (www.lomiko.com) since June 2009 and CEO of Lomiko Technologies (private) since 2014. Mr. Gill developed significant experience in the strategic development of resource companies such as Norsemont Mining,Inc. (Bought by HudBay Minerals for $ 512 million). He has held the positions of President, Chief Financial Officer, Corporate Secretary and Vice-President of Business Development of Norsemont Mining Inc. and served as a co-founding director. Mr. Gill owns AJS Management private since March 2001 and is a former Director with Graphene 3D Lab TSXV: GGG, OTC: GPHBF, and current Graphene ESD. He recently joined SHD Smart Home Devices as VP Business Development (www.shddevices.com).
I retired from elementary school teaching in May, 2011. Today I'm an avid low desert gardener, researching varieties of peaches, plums, pears, apples and tomatoes that can survive and produce fruit in Arizona's 105˚+ summer heat. Now I'm researching dividend growth investing to find ways that invested savings can yield dividends the way orchards and gardens yield fruit. The real question is whether a beginner can successfully select stocks with dividends that can survive the ups and downs of today's economy. To find out, I rolled my tiny 403(b) over into an IRA and bought my first shares of MCD in May 2012.
July, 2013: I've sold most of the mutual funds in my IRA and invested the proceeds into dividend paying stocks: AAPL, INTC, MCD, PAYX, ABT, JNJ, AEP, PEG, CAT, COP, PG, GIS, KO, O, AFL, NSRGY, ABBV, and KRFT. The one year total return is a tad above 6%, the dividend yield is about 3.3%, and the portfolio's Beta is 0.7
In the garden, I'm trying to grow three varieties of blackberries, two papaya seedlings, a pummelo seedling, tromboncino squash, and miniature butternut squash vines.
Former long-time business editor of major US women's magazine and contributing editor at dozens of different "trade" and consumer publications. Author of over 3,000 print magazine articles in past 30 years.
Penn Ph.D., centrist Republican.
Please visit my blogsites:
Baby Boomers-The Angriest Generation http://angriestgeneration.wordpress.com
The Rest of U.S. (for and about political Centrists) http://newcentristera.wordpress.com
and my brand-new blog about Markets:
Capital Punishment-Markets Through the Looking Glass http://marketslookingglass.wordpress.com