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The Stock Room page 33 |
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(Continued from page 32) ______________________________________ apppro’s take for 08/17/2011 @08:30 am EST: “I Love Gold!”
We are such idiots and suckers! Gold is now almost back to $1,800.00 after a short selloff caused by margin requirements. Gold Futures Margins Increased 22% by CME as Investors (SPECULATORS) Drive Record Rally - Bloomberg This bubble chasing is killing us all! At least this morning we got 1 major player to say enough is enough. Gold Market Is a ‘Bubble Poised to Burst,’ Wells Fargo Says - Bloomberg Will this help, probably not – greed will outweigh reasonable investing. We are just confirming that “IT’S THE MENTALITY STUPID!” and all we’re doing is bubble chasing instead of building bridges and creating jobs! “Should have declared a war on gold!” _______________________________________ apppro’s take for 08/16/2011 @07:30 am EST: “Now It’s Germany, too?”
I again say to heck with worrying about that ridiculous can! What we need is to have a worldwide effort to get things out of the doldrums. As I had in my reblog the other day:
Stimulate… Stimulate… Stimulate! Build… Build… Build! Drill… Drill… Drill! Jobs… Jobs… Jobs! _______________________________________ apppro’s take for 08/15/2011 @05:00 pm EST: Sorry W.B. – This time you just don’t get it!
Sorry Warren, you’re missing the main point here! Yes, Congress may be coddling the rich, but it’s not so much that they are doing it – rather HOW they are doing it! Yes, the rich should pay more, but which rich and how much? Do I think you should pay more – damn right, but only because you’re still earning a living and collecting an income. Should some retired person who just wants to sell their home of 30-years and move to the Sunbelt pay more… absolutely not—THEY SHOULD PAY LESS? I understand that you’re saying to tax only incomes/capital gains/dividends over $1 million (that house might easily fall into that), so you think most retired people might not be affected, BUT that’s still not the real issue is it? The issue has been and will always continue to be that “IT’S THE MENTALITY STUPID!” and we need a tax code that PROMOTES LONG-term investing and PENALIZES SHORT-term thinking and gambling. By having people invest in businesses and jobs—NOT in bubble chasing or “Putting on a Trade”; overall tax revenues would actually surge enough to even lower corporate rates to stimulate businesses even further! What a novel idea that would be! We also need a tax code that will make sure that hedgies and others PAY their FAIR SHARE for the mischief they create. We must make sure that the Jobs’s of the world pay their fair share, too! (No matter how great their iProduct is.) We also desperately need some tax code that will at least try to reign in some of SkyNet’s high frequency trading (HFT). Just by increasing the higher tax rate and amount, well that just doesn’t solve most of the main issues at hand. And what about the A.M.T. and how UNFAIR that is to the majority of us out there? This really doesn’t have to become such a complicated issue. Also, by ’adjusting’ the capital gain tax code only, we might even get the STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains 5+ years* - 5% tax on capital gains 2. Capital gains 2 > 5 years* - 15% tax on capital gain 3. Capital gains 1 > 2 years* - 35% tax on capital gains 4. Capital gains 6 > 12 months - 45% tax on capital gains 5. Capital gains under <6 months - 55% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund. *Anyone whose main source of ‘income’ (retired persons excluded) that comes directly from capital gains, should be taxed at never less than the 1>2 year 35% rate—no matter what the cg term length. The 5 Golden Rules 1. Immediately, reinstate the Up-Tick Rule. 2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s. 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund! 5. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. NO pre or after market trading. _______________________________________ apppro’s take for 08/15/2011 @08:00 am EST: “None of the Above!”
I really hate making any political comments, but does Michelle Bachmman With that said, I thought that this blog from over 1-year ago still says it all! apppro’s take for 06/26/2010 @09:30 am EST: Boy have we all screwed this up really bad! Well, let me refine that and say that we have allowed a few bond vigilantes and shorts to scare us to death, so that we are all screwing this up really bad! Canada wants G20 to set tough new fiscal targets | Reuters Our leaders are now up in Canada, arguing on how to get us out of this world-wide financial crisis. Try to remember that while Lehman’s might have triggered the final death throw, the withdrawal of that added liquidity $ (really phony SkyNet money) that Bush had injected in order to take our minds off the Iraqi War, was the cause. We then had Obama OK a Pelosi stimulus plan that stimulated nothing but a bunch of narcissistic, politicians’ egos. Boy, do we ALL elect a bunch of morons to govern us! This past week, we got FinReg that further hampers business and does NOT address ANY of the issues that created & caused our collective insanity. We are all still under the influence of Ronald Reagan’s ‘Trickle-down Economics’. Actually they should rename that to ‘Piss All Over Everyone Else Economics’, because that was really the outcome. What our leaders SHOULD BE doing is stimulating us all to the hilt with whatever $ they can get their hands on, WHILE AT THE SAME TIME stopping all the destructive shorting and rumorboarding that keeps creating the angst and hatred. Get our/world economies moving before we cut back on anything! This country needs to take a step back, stop trying to become the next ‘American Idol’ and concentrate on long-term investing and building. Hey, how about a national directive to place a 100 persons colony on Mars by 2025. Yeah there might be a radiation issue that has not been solved yet, but if it was good enough for Arnold
Stimulate… Stimulate… Stimulate! Build… Build… Build! Drill… Drill… Drill! Jobs… Jobs… Jobs! _______________________________________ apppro’s take for 08/14/2011 @09:00 am EST: The True Definition of Insanity – Short Sellers! At the end of my last blog I paraphrased Benjamin Franklin’s definition of insanity: "The definition of insanity is doing the same thing over and over and expecting different results." While I agree, I find Ben’s to be more of a self-destructive definition. I think my rephrasing below is the TRUER version. “The definition of insanity is ALLOWING someone else to do the same thing over and over even after you know how damaging and destructive the results will be!” I really can’t believe that this is what the rest of us want, or that even the ultra-right and the ultra-left condone this kind of psychosis! I find it unconscionable and disgraceful that we keep allowing short-term option traders/traitors & short-sellers to commit actions that EVERYONE knows will cause widespread angst, damage, and misery. Just listen to one of these traders/traitors on the Larry show as he “Puts on a trade!”… all with the inevitable results that will always be extremely damaging to everyone else. What I really want you to listen to is how they ALL recognize how things are reminiscent of the 2008/09 ‘Shorting of America’ and that how some are again trying to prevent it and how some are again trying to destroy the system by doing end-runs AND even after all of that… these a**holes still don’t care and still just want to “Put on a (destructive) trade!” (Everyone should reread my 8/11/11 blog where I said this would happen!) Institute immediately: Golden Rule #4 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund! You can change that to ‘ALL NEW positions’ if that makes you feel better. AND STOP THE INSANITY NOW! 5. Capital gains under <6 months - 55% tax on capital gains. What is wrong with all of us? (Continued on page 34) |
