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The Stock Room page 70
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(Continued from page 69) Just as a quick follow up, some of you may have heard over the weekend that unlike everyone else, now UNIONS join the State of Nebraska as special Obama interests that will be exempted from paying any tax on their plans when this new health care plan passes – heaven forbid! I have no real issues with unions, or even Nebraska. As a business owner, I did have a rather nasty, but unsuccessful attempt to unionize my factories back in the 1970’s; but that’s business – nothing personal. As long as unions stay away from me, I’ll stay away from them! However, Obamaism has now thrust these guys right in all of our faces – again! Why the heck should they get off from paying for everyone else’s health insurance, when the rest of us are forced to pay for the uninsured masses? Just plain wrong! I’ve always said that, “The good of the many outweigh the good of the few, or the one!”, but only as long it doesn’t cost me anything or is fairly based. ______________________________________ apppro’s take for 01/16/2010 @9:00 am EST:
“Too Union To Fail”
Well, your Prez has now reached a new low, or for those that love Reverend Wright inspired ideology & hysteria… a new high! How he can have the balls to say that everyone else should have to pay back the Treasury for UNPAID TARP monies with a NEW bank TAX is Socialism/Obamaism/Pelosiism at its’ extreme. And don’t get it wrong – everyone will pay this back through higher bank fees and interest – we all know that, but ‘your’ Prez is on too big of an ego trip to care. But wait a second, exactly which big banks haven’t paid back that TARP money? JPM Chase – No… they paid it all back and with interest. The Treasury even made a profit on the warrants they were sold. Bank of America – No… they paid it all back. Goldman Sachs – No… same, even though these guys should get TAXED for a whole list of other reasons! Wells Fargo – No… same here, too! Citibank – No… even they paid it back! And the list goes on, so what BIG banks didn’t? AIG – not a bank and they’re in the process of paying it back in the near future. So whom does that really leave? THAT’S RIGHT >>> ONLY GM & GMAC – the Obama bailed out with TARP/OUR monies, financing arm of the UNION controlled General Motors! If anyone should have failed it should have been them, so to heck with taxing anyone to pay their portion back! What ‘your’ Prez is doing is just stirring up social discord (“Can’t we all just get along?”), so he can push through his agenda. I hate talking about politics, but damn it people – this guy is now out of control! _______________________________________ apppro’s take for 01/14/2010 @8:00 am EST:
My heart and prayers go out to all those of the Country of Haiti. I hope the World responds as well as they did for the Southeast Asian Tsunami. Meanwhile, our Congress is back at bashing and blaming our bank CEO’s again for a mess that they only participated in, but did not cause. Please don’t start ranting that ‘The Shorting of America’ never happened and we have only the banks to blame. Whatever! Live in your dream world if that’s what makes you happy, but know that its’ not what occurred, and you’ll never fix what you don’t understand! We also now have your great leader calling for adding more taxes on the banks in order to get back more money from TARP, even though most banks already paid it ALL back, and with interest too boot. Obama to Unveil Proposal on Bank Taxes - WSJ.com Whatever on that too, but as that jerk Jim Cramer asked the other night, “What kind of sense does it make to tax the banks out of the very money that you want them to loan out to create jobs? That’s ridiculous!” So what did Congress find out yesterday? Squat, but at least they are asking the RIGHT questions! Over 2 years ago I posted a video link about a man, and I quote from my 03/01/2008 blog: “What really put me over was a clip on CNBS (formally known as CNBC) about this realtor in California who made a fortune from building small cheap homes, BUT at the same time made ½ billion dollars from shorting the subprime loans that people were using to buy HIS crap! Does anyone else see something wrong with that!!!!!!!!! How can the 1st person be allowed to build and sell something to a 2nd person, AND at the same time the 1st person be allowed to bet (by shorting mortgage bonds) that the 2nd person will go broke and not be able to pay for their home, because they were sold by the 1st person a mortgage that was known to be out of the 2nd person’s ability to eventually pay for in the 1st place.” Shorting Subprime, Losing Friends - CNBC.com Well, listen to this video on the questions one on the Congressional panel asked: Bank Chiefs On Hot Seat - CNBC.com Sound familiar to my blog – it should! 2 years too late, but it shows that at least someone is NOW asking the right questions and putting the blame right where it belongs and not on the easy targets: bank CEO’s. And yet, we still continue with our short-term mentality ways. This guy just wants you to short things just for the sake of short-term profits and for no better reason that 2 of our biggest companies are paying nice dividends and MAYBE IF interest rates go up you may want to put your money under a mattress instead! ______________________________________ apppro’s take for 01/07/2010 @4:00 pm EST:
Have any of you ever gone to your local 7/11 or the corner magazine store and come across a person who stands in front of the Lottery machine rattling off numbers for Win 4 or whatever your local State’s casino is offering? Some of these compulsive gamblers even come in with perfectly laminated number sheet lists to help them place those BETS. Plus, I’ve got to tell you (as if you didn’t know already), many are using our Government’s assistance money to place those bets. Makes you want to just puke, doesn’t it? Well, if that makes you sick, just try and imagine that a small group of gamblers are using our Government’s stimulus dollars to do the very same thing in the stock market. Hey, what imagination… it’s actually happening! All those short-term option traders/traitors are doing the exact same thing – gambling – it’s that simple. What should make you even madder than hell is that many are using various forms of our government’s stimulus/bailout monies in order to execute these bets. They are building nothing! They are making nothing! They are providing nothing! All they actually do, is to create a great deal of hysteria and uncertainty for the rest of us! Read this from a Yahoo financial chat board. You probably won’t understand it, but a compulsive gambling addict would! "Bought back the short Jan $70's for $0.61 which were covered with long Apr 70's. I was mildly concerned with going into job's numbers and the following expiration week perfectly flat on XOM. Additionally the Apr 75's were only fetching $0.90 on the bid at the time of execution and I wanted to be a little more aggressive than usual. Though I do think oil and NG could be in for a rough patch which would not help the bullishness in XOM. Come on people! STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains under <6 months - 55% tax on capital gains 2. Capital gains 6 > 12 months - 45% tax on capital gains 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 2 > 5 years - 18% tax on capital gains 5. Capital gains 5+ years - 5% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund.
Build… Build… Build! Drill… Drill… Drill! Jobs… Jobs… Jobs! _______________________________________ apppro’s take for 01/01/2010 @9:00 am EST:
Well, it’s a new year and a new decade. For many I’m sure the expression of the hour is, “Thank God it’s over!” I do wish everyone a prayer and a desire for a happy and healthy next 10 years. What we all need to ask is, “Now what?” For most I’m sure it’s going to be more of the same: plugging away everyday, saving a few bucks, and trying to get a piece of that elusive ‘American Dream’ pie. For some I’m sure it will be an outright struggle, and at times some bad consequences. And for some, there will be luxury and champagne at everyone else’s expense. I guess it’s the same old story! Damn it? When it comes down to it, things are getting better. Let’s not get into the same old ‘Shorting of America’ argument. Suffice it to say that our SEC has done NOTHING to remedy the situation and that’s mainly because most are still far more willing to blame our CEO’s then the few short sellers who actually brought us here. Jobs are coming back and I hope companies’ see that Armageddon is also not coming back, and they will hire back all those that they fired out of fear. Keep your fingers crossed! Housing prices have supposedly finally stopped going down – we’re now at 2003 levels – and in some areas have started to go back up. Really people, most housing prices did get totally out of control – face it! The almighty consumer has crawled out of their bomb shelter and is now spending again. That useless commodity gold is going back down, so the fear factor is subsiding. We’ll see how long that lasts! All in all there are many reasons to think the worst is behind us. However, there are still far too many that still want everything to fail again. Why? Well, the answer is mainly because of their short-term mentality and the short positions that they have insisted on keeping. OK people, Main St. is connected to Wall St., so get use to it. Until we stop all the short-term trading and the short sellers who promote Armageddon Revisited, we will not stop these disasters from reoccurring. "More Insanity for 2010 from Traders/Traitors"
We also now have way too many so-called pundits that keep bashing our financial system, ALL FROM AFAR! These short sellers sucked a great deal of wealth out of the rest of us, and then sold everything and ran for cheap, safe heavens in the Far East! Now they spew out their venom thru the media all the while shorting everything in OUR Country that they can. What is totally insidious that they pretend to be here, supporting OUR Nation when in reality they’re on the World Wide Web. Be wary of anyone that has a picture of a foreign city in the background, they are NOT your friend. So on this New Year Day, please let us all say goodbye and good riddens to the ‘Trader/Traitor Decade’, and welcome in ‘Investor Decade’! STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains under <6 months - 55% tax on capital gains 2. Capital gains 6 > 12 months - 45% tax on capital gains 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 2 > 5 years - 18% tax on capital gains 5. Capital gains 5+ years - 5% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund.
Build… Build… Build! Drill… Drill… Drill! Jobs… Jobs… Jobs! _______________________________________ apppro’s take for 12/29/2009 @6:00 pm EST:
If any of you have clicked lately on the ‘Seeking Alpha’ comments link to the left and read through some of the recent articles, you might have seen that there are times when many seem to find a great deal of angst/hatred with my idea on taxing capital gains so as to stop short-term trading and the mentality that goes along with it. What’s so wrong with that idea? Nothing that I can think of, but even if you do object, what these critics (some rather nasty too boot) NEVER comment on or even acknowledge is the extremely LOW (almost 0) tax I do propose on investing for long-term growth. Why do these people object at the mere suggestion that trading on a minute-to-minute basis is just NOT in our collective or even individual best interest? Would be going to Vegas everyday to gamble be in your best interest? I just don’t get it! _______________________________________ apppro’s take for 12/27/2009 @9:00 am EST:
For this upcoming week, and for the entire New Year as a whole, what we NEED is for all of us to focus on rebuilding and not the short-term mentality of this past 'Trader/Traitor Decade'. We are entering a NEW decade and the sins of the past need NOT visit us as the spirit of 'Decade Future'!
STOP THE INSANITY NOW!
Revised Tax Rules: 1. Capital gains under <6 months - 55% tax on capital gains 2. Capital gains 6 > 12 months - 45% tax on capital gains 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 2 > 5 years - 18% tax on capital gains 5. Capital gains 5+ years - 5% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund.
Build… Build… Build! Drill… Drill… Drill! Jobs… Jobs… Jobs! _______________________________________
apppro’s take for 12/18/2009 @7:00 pm EST:
What we ALL need to concern ourselves about, is that EXACTLY what happened last year from October on is happening exactly again this year. The shorts and pundits are back at the naked shorting and rumorboarding, respectively. We are again destroying our fragile financial sector with horrid/unwarranted comments from people like Meredith Whitless and Pimco's quasi terrorists. We must understand that Capitalism is built on trust and we are again allowing these jerks to convince us that Armageddon Revisited is on its' way back. The past year should have proved 1 thing to all of us: self-fulfilling prophecy’s do occur; or should I have said that they are being engineered. We cannot and should not allow this to happen! This is no longer a matter of real time economics, but rather of targeted attacks by short-term option traders/traitors. 'The Shorting of America' rears its' ugly head! The only big difference is that this time we ALL won’t recover from it! As a side note, I would like all of you out there that who have been bashing our bank CEO’s and calling for them to give up (Continued on page 71) |
