You can't forget Texas.
Market crushed
- Thread starter Jazz4ever
- Start date
You can't forget Texas.
I've been in an oil company "war room" with maps all around on all the walls, and have had it explained to me. Our corporate "foreign policy" has been "USE THEIRS FIRST".
We made the Grand Staircase a national "monument" to keep the Dutch corporation from shipping it all to Indonesia to corner the Asian market.
There's as much oil in New Mexico as Texas, and as much in the northern plains as Saudi Arabia. . . . and more in the Gulf.
We have more natural gas than oil, and it burns cleaner, but if we switch over to natural gas before we use all the Mideast oil, we're long-term "vulnerable" to the development of actual competition in the oil industry which would disappoint our cartelists.
A
Agoxlea
Guest
The job numbers looked pretty good. Not good enough to erase yesterday's losses, but still.
Duck Rodgers
Well-Known Member
No worries, guys. Osama Ben Bernanke and Timothy Mcveigh Trichet have it all figured out:
https://blogs.forbes.com/steveschaefer/2011/08/05/report-ecb-ready-to-buy-italian-spanish-bonds/
What do they call doing the same thing over and over again and expecting different results? Insanity or something like that?
https://blogs.forbes.com/steveschaefer/2011/08/05/report-ecb-ready-to-buy-italian-spanish-bonds/
What do they call doing the same thing over and over again and expecting different results? Insanity or something like that?
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Mission Accomplished
Well-Known Member
Well, we could alway cut more jobs and try to reduce our deficit instead of creating jobs and increasing our GDP which could bring us faster out of debt.
Duck Rodgers
Well-Known Member
Biotech is a good way to lose money too. See what happened to DNDN yesterday as a prime example. Any little problem with your companies' drug, and your stock gets halved at best instantly.
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Dendreon is a client so I can't comment too much on this stock but I want to address one thing: There is no problem with Provenge, there is a problem with the present size of the market for Provenge relative to previous expectations. It's a sales issue, not a problem with the company's drug.
It also doesn't help that it's a drug that has a very different procedure than reimbursement rules contemplate and we're presently operating in a period of time where reimbursement rules are in flux, not the least of which is the result of the things happening in Washington.
Duck Rodgers
Well-Known Member
Correct. I was including ANY problem with the drug in my mind when I wrote that, not just issues with the drug itself. But that clarification definitely helps.
That's almost worse though because if you were getting in DNDN at this point with all the trials and FDA approval out of the way, you're probably thinking you're in a pretty stable biotech stock. But hey, that's the risk you take on any stock that only has one main money maker I guess.
Duck Rodgers
Well-Known Member
The derivatives market and the turnaround(buying and selling) each year within that market is huge. Slap a <1% tax on the turnaround and your fiscal hole is gone very quickly. Granted, whatever the turnaround is now would slip, but it's big enough that you could lose 90% of the volume in that market and it would still patch your fiscal hole up and pay off the entire 14 trillion. That's a much better solution than you'll hear elsewhere. I think the better option is to get rid of most of that market in and off itself, but if it's going to be allowed to operate as is, that's the route you go.
Now, the problem is I don't think the debt that the US is on the hook for is anywhere near 14 trillion. But at least since that is the interest bearing number that is so worrisome to everybody, you could clear that out and see. But don't be surprised if the US ever attempts to clear that number out, that it magically refills itself. Because that's what derivatives do. They're black magic debt holes.
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so....
way back when, 25 years or so ago, back before the BIG crash in '87, we bought Phillip Morris and Kraft Foods. They did well. They merged. We had plenty of MO then! Then they split and MO changed to Altria, and Philip Morris changed to PM and Kraft became KFT.
now Kraft is planning to split into two separate groups...
I'm not complaining - a 4% - 5.5% dividend yield cushions things a bit
and the worse things get, the more folks will be smoking and eating junk food
way back when, 25 years or so ago, back before the BIG crash in '87, we bought Phillip Morris and Kraft Foods. They did well. They merged. We had plenty of MO then! Then they split and MO changed to Altria, and Philip Morris changed to PM and Kraft became KFT.
now Kraft is planning to split into two separate groups...
I'm not complaining - a 4% - 5.5% dividend yield cushions things a bit
and the worse things get, the more folks will be smoking and eating junk food
Remember just a few days ago when it was necessary to pass the "compromise" legislation raising the debt ceiling? We were told that if we did not do so right away, our credit rating would be downgraded?
A lot of new congressmen forgot their pledges to hold the line on debt, believing that the impending evil of a downgraded credit required them to agree. They bargained though, and got some vague promises of spending reductions, to be decided by a "Super Committee" headed by the most profligate of all Presidents.
They sold out for a pig in a poke, and created a monster with supra-constitutional power.
Well, the credit rating was downgraded. . . . BECAUSE we did this.
https://www.larouchepac.com/warroom
The insiders knew in advance, and got out of our markets. The smart money was all parked on the "cash" bet before Standard&Poors downgraded our credit rating yesterday, with the stock market in a panic now for two days. Your 401(k)s took a one-day hit of a national $2.5 Trillion, with another market plunge to follow. And your taxes will go up to pay for Obama's pipe dreams.
A lot of new congressmen forgot their pledges to hold the line on debt, believing that the impending evil of a downgraded credit required them to agree. They bargained though, and got some vague promises of spending reductions, to be decided by a "Super Committee" headed by the most profligate of all Presidents.
They sold out for a pig in a poke, and created a monster with supra-constitutional power.
Well, the credit rating was downgraded. . . . BECAUSE we did this.
https://www.larouchepac.com/warroom
The insiders knew in advance, and got out of our markets. The smart money was all parked on the "cash" bet before Standard&Poors downgraded our credit rating yesterday, with the stock market in a panic now for two days. Your 401(k)s took a one-day hit of a national $2.5 Trillion, with another market plunge to follow. And your taxes will go up to pay for Obama's pipe dreams.
Cool website.
"The means Obama used to ram through the "deficit bill", the Budget Control Act, is parallel to the process by which Hitler established his dictatorship. Is this the past repeating itself? No - today it is much worse."
I've come to believe that whoever brings up an unsolicited Nazi comparison really has no clue. I believe that more strongly than ever.