Rokjok777

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54 Comments

    • Thu Nov 20th 14:35 PM | Rating: 0 0
      Commented on:
      Mitt Romney's NY Times Op-Ed On the Automakers: Dead On
      The market knows what the future holds for GM. Their 2033 bonds are priced at 15 cents. That means the market thinks they will be around for exactly *two* interest payments and then will be gone. Looks like those two payments will be made by the US Chump, er I mean the US Taxpayer. If the Chump/Taxpayer ever woke up and wrote to their congressman, maybe even tied up the phone lines, they might get a different response. But you're probably reaching for the TV clicker, not the telephone right now. If so you get what you deserve.
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    • Tue Nov 18th 06:23 AM | Rating: 0 0
      Commented on:
      The Perversion of American Capitalism
      Ethel wins the prize! For uncovering Republican'ts rewriting of history. This crisis is by, for, and about Republican ideology, the insane idea that you should just give corporations everything they want and let them do whatever they want and things will all work out. If you are a Republican and you voted in this ideology, starting with Saint Reagan, I suggest you may do a little soul searching rather than the tried and true Republican strategy of blaming someone else.
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    • Tue Nov 18th 05:24 AM | Rating: 0 0
      Commented on:
      The Perversion of American Capitalism
      Ethel wins the prize! For uncovering Republican'ts rewriting of history. This crisis is by, for, and about Republican ideology, the insane idea that you should just give corporations everything they want and let them do whatever they want and things will all work out. If you are a Republican and you voted in this ideology, starting with Saint Reagan, I suggest you may do a little soul searching rather than the tried and true Republican strategy of blaming someone else.
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    • Sat Nov 15th 15:05 PM | Rating: 0 0
      Commented on:
      Bretton Woods Redux: The Real Bridge to Nowhere
      Excellent post. The solution is to strengthen US finances and balance sheet, there is no other option than a continued USD-based financial system. Perhaps in 15 years there will be, the euro took 15 years to negotiate, but the world knows we have no other choice except for the patient to get better.
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    • Thu Nov 13th 16:31 PM | Rating: +1 -2
      Commented on:
      Bush's Peculiar Wall Street Speech
      Unrecovered alcoholic with a pathological inability to take responsibility for anything. Extends out to most believers in Republicanism. Now that every single least little aspect of that philiosophy is an undeniable disaster, they need to find someone to blame. Oh! Wait! Let's blame Obama! Pathetic. Maybe there are some good meds for that. "Just give corporations everything they want and it will all work out" it turns out, didn't work out. The fox did a lousy job guarding the henhouse but then again I could have told you it would and we could have skipped all this braggadocio followed by all this misery....
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    • Thu Nov 13th 12:48 PM | Rating: 0 -2
      Commented on:
      GE Hits 12-Year Low: Time To Stock Up
      sorry, mate, 4000 shares does not make you a "major buyer". If you had said 400,000 shares, that would fit the bill
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    • Wed Nov 12th 14:57 PM | Rating: 0 0
      Commented on:
      TARP Goes CARP Fishing
      Biggest bank heist in history, in broad daylight. They're filling up wheelbarrows with cash and when nobody stops them at the door they're coming back a second time. Your Congressman and mine are asleep at the switch. Fox News and the Republican philosophy that gave us this mess are worried whether Obama is wearing a flag pin...
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    • Wed Nov 12th 14:54 PM | Rating: 0 0
      Commented on:
      Treasury Continues to Harpoon the Real Economy
      The details may vary but the author makes THE key point: The current crowd in power believes you just need to take care of Corporations. But they don't give a passing thought for People, who need good jobs, better education, affordable health care etc, in order to be viable to purchase the products of those corporations. And I mean real jobs. America today has two main choices; become a lawyer/I-banker or go work for McDonalds. Despite the persistent myth, America is the least socially mobile country in the industrialized world. They allowed corp's to gut the middle class, send their jobs to Sri Lanka etc so the property class could make some money on the stock. Ha ha that really worked out well didn't it. Now China is laughing with all the factories, know how and infrastructure (and forex reserves) to dominate the next wave. In the classic struggle between Capital and People, America tilted all the way toward Capital and lost the bet. Anyone who voted Republican in the last 20 years can pat themselves on the back, nice going. Dems weren't much smarter but at least they TRY and do something for the people, not just the robber barons and carpetbaggers...
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    • Wed Nov 5th 15:22 PM | Rating: +1 0
      Commented on:
      Financial Meltdown: The Conventional Wisdom
      The financial markets right now remind me of an old joke:

      A farmer's donkey dies. He tells his friend "I'm going to raffle him off for $2 bucks per ticket".
      Later his friend asks how it went. "Great! I sold 500 tickets! Everybody's happy except the winner... so I gave him his two bucks back..."
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    • Wed Nov 5th 14:32 PM | Rating: 0 0
      Commented on:
      The Next Crisis Is on the Horizon
      Mark Sunshine (great name!) thanks for stepping in and clarifying the awesome set of powers the Treasury has. In a holdover from the days of King George, the Treasury branch has extraordinary powers. You do not even get "innocent until proven guilty" when you go up against them. They do not need "probable cause" or any of those other niceties. Take it from me, I know, I can show you the lawsuits "Me versus the Unites States of America". They hold all the cards. I won anyway...but don't underestimate what they can do.
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    • Mon Nov 3rd 15:38 PM | Rating: 0 0
      Commented on:
      Gold's Fundamentals: 'Extremely Appealing'
      If you're a hedge fund and are leveraged 30 or 50 or even 100:1, and your clients say "give me my money back" then you have to buy US dollars to unwind positions and pay out clients. Once that upward pressure on USD is over we will be in a more normal range. HOWEVER it is very unlikely that Bretton Woods will come back anytime soon. USD will continue as reserve currency for some time to come, if you are on a merry-go-round and it is spinning faster and faster, you hang on and hope it slows down, you don't let go...
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    • Sun Nov 2nd 15:26 PM | Rating: 0 0
      Commented on:
      We Simply Do Not Have a Financial System
      I love a lot of this article. "Intrafinancial mandarin class" is brilliant. You have correctly identified the real problem. Investment banking is supposed to be about capital formation, putting investors together with businessmen for the benefit of both. Then commercial banking is supposed to take the baton from there, providing financing for ongoing concerns.
      What we have instead is a casino.
      View article »
    • Thu Oct 30th 12:05 PM | Rating: 0 0
      Commented on:
      China's Greatest Trade Ever
      PaulTaut displays his ignorance when he misspells Marx's name. The idea that Obama is a Marxist is a joke. Compared to Comrade Bush, who is in the process of nationalizing the financial industry (and soon autos & airlines too!), Obama is a lightweight commie!
      And maybe we could use something different, anyhow. What we're doing now, whether you call it "capitalism" or just "socialism for billionaires" ain't working. I call it FASCISM: the unholy alignment of government, military, and industry that devours the people they are supposed to represent & protect.
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    • Tue Oct 28th 19:35 PM | Rating: 0 0
      Commented on:
      Where Are Cash-Rich Companies Hoarding Their Money?
      I happen to know the Treasurer of MSFT...and I can tell you the balance sheet is clean as a whistle. Cleaner....
      View article »
    • Tue Oct 28th 04:58 AM | Rating: 0 0
      Commented on:
      Dollar Strength: An Illusion
      Read history. Every time a country decides to live beyond its means, and print their way out of it it ends up badly.
      Right now people are buying dollars because you need them to unwind derivative positions. Once that's over, look out below.
      View article »
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