In 2008 when I joined the Obama bandwagon I had this underlying suspicion that he was more about hype than substance. That he was saying things he knew would arouse me but was mainly saying them to get elected. He, like Bill Clinton and George Bush before him, didn’t really speak the words from his heart. You can’t say that about Bernie. Sanders has a long track record of doing what he says. He also has a record of accomplishments that proves him to be a pragmatist that I believe this country seriously needs today. He votes based on substance, … Continue reading About Bernie…
Thanks Dan for reminding us what is really tragic. Continue reading The Rich Get Richer… Or….
Republican proponents insisted the new legislation would reduce the regulatory burden on small businesses and spur creation of new jobs. SOURCE: Houses passes bill easing rules regulating Wall Street – Yahoo News. I think every one of those GOPers in this new congress need to have the words above tattooed on their foreheads. Ok more realistically written on a Post-It note and stuck on the foreheads. I’m sure that mantra is going to be their reason for every bill they pass in the coming two years as it has been for the last couple of decades. But as usual there is … Continue reading Houses passes bill easing rules regulating Wall Street
In a speech on the Senate floor Wednesday morning, the newly elected majority leader suggested that the growing signs of an economic recovery — 5 percent GDP growth, 320,000 additional jobs in November, all-time highs in the markets on Wall Street and plunging gas prices, to name a few — just might have something to do with the election of a Republican Congress…. “That Mitch McConnell is one funny guy,” said Mo Elleithee, communications director for the Democratic National Committee. “He likes to remind people all the time that he’s not a scientist. Now we know he’s not a mathematician … Continue reading An LOL Moment… 🙂
“I’m worried a lot about power in the financial services industry and I’m worried about the fact that basically, starting in the ’80s, you know, the cops were taken off the beat in financial services. These guys were allowed to just paint a bull’s-eye on the backside of American families,” Warren said. “They loaded up on risk. They crushed the economy. They got bailed out. What bothers me now, they still strut around Washington, they block regulations that they don’t want, they roll over agencies whenever they can.” SOURCE: Elizabeth Warren Sidesteps Clinton Question, Says Wall Fat Cats ‘Strut Around … Continue reading Me Too…
As Wall Street’s best year in more than 15 draws to a close, few are expecting a repeat performance in 2014, though traders have plenty of reasons to feel optimistic. SOURCE: Big year ends with Wall Street hopeful for 2014: Fidelity. I have a fair share of stocks in my retirement portfolio and have seen them go up quite a bit this year. It almost reminds me of the year 1998 when I started thinking about retiring. It is good news to see stocks going up especially since the Feds have bond interest rates stuck at 0% for so long. But … Continue reading Big year ends with Wall Street hopeful for 2014
“Most big corporations trade well above book value,” Warren said, referring to the measure of a company’s assets minus liabilities. “But many of the Wall Street banks right now are trading below book value. And I can only think of two reasons why that would be so. One would be because nobody believes that the banks’ books are honest, or the second would be that no one believes that the banks are really manageable.” Warren’s comment on bank accounting came after she repeatedly — and apparently rhetorically — asked a panel of top regulators to cite the last time they … Continue reading Hoorah for Elizabeth Warren….
Source: ‘Fear’ gauge showing little of it.
But others worry that the low readings are a sign of complacency, and that the potential for further declines in response to unexpected bad news isn’t reflected in stock prices….
If Wall Street is nothing else it is about worrying. Those guys buy and sell on the slightest hint of something different happening. The above quote comes from Fidelity Investments as a form of advice to its investors. What it basically says is that these guys are worrying that they are not worrying enough so something might come up and surprise them. Does that sound like paranoia to you? It sure does to me.
The trouble with Wall Street is well, Wall Street. Those folks in New York City, especially Manhattan, think they are the center of the universe. Lets move our financial institutions to Omaha Nebraska. That will give them more common sense than they would ever be able to gain on that little island in New York. Warren Buffett has done pretty well with himself by staying there all these years. He has weathered most of the melt-down in pretty good shape. He doesn’t let the flashy lights of fame and fortune cloud his judgment. The people who live in or near … Continue reading The Trouble With Wall Street Is……
You gotta love all the spin masters on Wall Street these days. I noticed these headline here several times this year. BIGGEST ONE DAY GAIN!!! But what they don’t talk about is that the day before was the biggest one day loss so all that the gain did was put us back to where we were the day before yesterday. These guys will do just about anything to try to justify their big year-end bonuses. But what do I know…. Continue reading Biggest One Day Gain!!!
The title to this post came from one of the organizers of the Wall Street protests that are taking place across the country. More power to the people baby!! 🙂 It basically infers that we ordinary people who take risks with our assets (money) have to pay the consequences of when we make the wrong decisions. But the capitalists, meaning those large Wall Street firms, can take big risks and if they are wrong the government will bail them out with our tax money as they are “too big to fail”! These protests are probably the result of our stagnant … Continue reading Capitalism For Us and Socialism For The Capitalists….
Every Nation must have it legalized form of gambling. We have our Wall Street –Will Rogers — 1933 Continue reading Wall Street