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Given that this ‘toon was produced in 1948, right about the time our allies in Europe were succumbing to full-blown post-war collapse Fabian socialism, this piece is eerily relevant today.
And I’d add — never more so than on a weekend where such dark portents as the passage of PelosiCare have brought us all to a historical precipice.
To what fate will we consign our children? It’s up to you, America. Time to step up.
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stand up for what?
Stand up for your freedom as a sovereign individual.
Don’t think you’ll be exempt, Fly. This regressive attack on a free healthcare system will affect everyone, even those who think they have the cash to evade it.
There’s no evading a dimunition of services and innovation due to a system-wide stricture on funding.
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i stopped caring when i was born.
bring it on pink commies!!!!
BTW — the Tamiflu is working like a dream. No problems save cajoling the three year old to actually swallow the horrid stuff.
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It will suck, not having doctors. I do hope I don’t become ill over the course of the next thirty years.
My ace in the hole is a brother in law in town who is a physician.
Likely, he will be working as a stock broker in a couple of years, but I figure he’ll retain some of those more practiced skillz.
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Do not fear, Dr. Fly is here.
Yeah, the homeopath.
Great.
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As long as the masses can stick their fat, grease covered fingers into their mouths and afford their lard-ass conveying gas guzzling vehicles, America is the way of life they want. Who cares about actually working towards something more than the end of their fork ; towards something that requires more effort and more care then that which is immediately rewarded? America is kept alive by both extremes, those that send us to war to the benefit of a few, as well as destroy the value of our currency, and those that come out of the mire that is defined as “impoverished”. How about those fat fucks just start biking to work? YEA RIGHT! That will never happen.
More interesting discussion:
The Coming of the Fourth American Republic (didja know we were on #3 already?)
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Voices of Reason (ie. every single last nation with a standard of living in the top ten; not to mention life expectancy) calling Jake:
“Sure our system of…” Universal Health Care “isn’t perfect, but before we throw it away for some imported double-talk (see US Insurance Brokers’: its their speciality), let’s turn the clock back a few years and see what it has done for us…”
Refer to opening sentence…
Oh, and if only the Mr. Dokes character in this children’s story could talk to Tesla (and many others) before handing his innovations over to the polyarchy that Americans unwittingly allow to constantly bamboozle them, he might bestow them elsewhere. Assuming, of course, that there is some other motivator for refinement or ingenuity other than simply greed; even then, ol’ Joe shouldn’t necessarily expect much.
Heh, Jake, you would be able to sum up your viewpoint in an infantile, second-rate jingoist cartoon.
I’ve chased you away with this query once before, so I spray Raid on you again:
“From where will the innovation come in future if you turn our highly productive system into just another run of the mill, parasitic cash transfer system like yours?”
And please, spare me the all too revealing jealous bunch-fisted mewling about “jingoism” etc, etc. Just answer the question honestly, if you are able.
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Ans.
From intelligent, moral human beings not motivated solely by greed. But I would have thought that was obvious.
Like this guy. ( Now that is some old shit that ISN’T out-dated)
Don’t kid yourself loopy, all humans are motivated by the same thing. Your desire to put Nanny Government in charge only makes it easier for the predators.
Time to wake up, before you find yourself writing articles about the good old days, re-ascendent.
(Note, it’s likely you already have a subscription to The Guardian.)
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Remind me Jake: what is a good descriptor for the state of health care in (all of) Germany these days? Exemplary? Top-notch? Fantastische? Indeed; that good, huh… how do they operate that baby again?
Once again:
Voices of Reason (ie. every single last nation with a standard of living in the top ten; not to mention life expectancy) calling Jake!
“Sure our system of…” Universal Health Care “isn’t perfect, but before we throw it away for some imported double-talk (see US Insurance Brokers’: its their speciality), let’s turn the clock back a few years and see what it has done for us…”
Refer to opening sentence…
Geez, there must be some synonym to ‘Godwin’s Law’ being invoked here. Except that instead of the fallacy of equating the person holding the opposing position in an argument to a ‘Nazi’, instead, every time someone mentions ‘Universal Health Care’ an American insurance broker knob-gobbler ( or simply a duped rube, which is essentially the same thing, but unwittingly) equates that person’s opinion to be sympathetic with Stalin’s definition of ‘communism’, or even ‘socialism’ . A definition which any tenth grader (in Canada, anyway) can easily demonstrate as a misnomer.
How long does a tenth grader in Canuckistan have to wait for an MRI?
Econ 101, then a review course, then you’re allowed back in.
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“How long does a tenth grader in Canuckistan have to wait for an MRI?”
Ans.
If its an emergency: right smartly of course.
Why do you ask, some gigantic behemoth of an entity been paying people to misinform you again?
You’re either with Jake or you’re with the terrorists!
What a pleasure to know that we have only the brightest intellectual stars of the Left coming to argue the socialist side here on the Jakegint blog.
Why, I bet, Purdy’s got ten or eleven other gems like the above — fresh from the Rachel Madow Show — in his duffel bag of brilliant bon mots.
(Anyone get the feeling “Purdy” is the similar lightweight, Dinosaur Trader? )
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No, that quote is from your hero/wet dream GWB – pay attention.
You seem enamored of Bush, quisling. Can’t you settle on an appropriate Dear Leader?
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You have to admit, Jake, Dubya and his crew, and Obama and his for that matter, were/are some prime examples of what/is wrong with the US’s politcal system, no? I warned you that you all should have voted for Ralph Nader last November. I mean, ‘heaven’ forbid you should elect a guy who has spent the last four decades ACTUALLY accomplishing something that has benefitted every single American. Let’s face it, you would know even less about the manure spreading going on these days if it wasn’t for FOIFA.
Oh, in case you missed it: that answer completely ignores the dull, and insipid barbs with which you end most of your narrow-minded, ethnocentric, and obtusely presumptive questions.
Do you guys have anything save knee-jerk, off-the-shelf pablum to regurgitate?
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Yah ‘guys’, Jake is an addict and he needs a fix of some some ascerbic, pre-conditioned, autistic, has-been, short-sighted, good ol’ neo-classical economic theory to reaffirm his damaged self righteousness. You’t think he’d had enough already, but go figure; some are just bloated gluttons for punishment. I mean: Come ON PPL! He’s Jonesin’ here! All this reason is gettin’ him down…
You rarely, if ever, make any sense, hippy.
Don’t do drugs.
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All this aside: isn’t gold just beautiful at over $1100 USD/oz. Sweet dreams all.
Got long SYT this AM. Suggest that those of you who use charts to guide your investments compare SYT’s and MON’s long term charts.
(Those who, like our little data miner Jake, only consult charts when they back up his religion on the stock should ignore this.)
Tell you what, genius.
Why don’t you start cateloguing your trades on the Peanut Gallery, so we can compare records?
Do you have the balls?
Yeah, that’s what I thought.
Another liberal gasbag hits the rubbish tip with a resounding “pop!”
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LOL
YOU calling ME a gasbag
…a truly GWBushian lack of self-awareness.
Jake,
One of my favorite readers decided to stop commenting on my blog as a result of your outrageous behavior. Please keep things civilized.
Don’t speak of civilization to me, Censor.
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(PS –If this is “Gag Tim” — I haven’t checked his site recently,so I don’t get the joke)
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All of the Gag Tim material comes directly from the site;) I make none of this up.
Sorry, I just saw that. Unfortunately, it’s not as funny as I am no longer able to register my cautions on Timmah’s site.
It’s a shame, as his latest brilliance was “short GDX.” Think of how many I could have saved?
Tim Knight has become the Jim Jones of the internets, and it’s cringeworthy to witness.
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Sorry, this should have been on the most updated posting:
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Update — All the Jake favourites (sic) are “off the hook” with yet another plummet in the dollar thanks to our idiots in Congress.
They make me richer by the day (on a fiat basis, at least) and yet I loathe them. Odd, no?
Please be sure you have RGLD, people. It’s the GOOG of this group. Also, SLW, IAG, ANV and all the Jacksons are off the hook.
Be nimble, be quick. I will likely take some of my December GDX and SLW calls off today, in light of all the “free money” and buy some later month stuff in exchange.
(I’ve since sold my SLW 9’s an GDX 40’s)
This is one cool Katz.
I especially like: “I went to Harvard, but I was smarter than you or your son. I spotted the professors there as crackpots by my sophomore year. I skipped the Harvard economics courses and learned real economics by self study. ”
Minkiw’s Econ 101, indeed.
You are one confusing hippy, Goin’.
You link editorials that look like they were written by me, and then you go on about liking Ralph Nadar, perhaps the purest statist to run for President (with some traction) since Eugene V. Debs.
Do you not know what Ralph Nadar would like to do to this country, given the opportunity?
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Yep, I sure am an enigma wrapped inside a riddle in the centre of a syllogism, but if you look closely you can see the underlying reason that binds it all together; sorry if you find it confusing. And this ‘wholsim’ hardly qualifies me for the epithet ‘hippy’; except maybe to the blinkered blathering of the duped.
Certainly I DO know what Mr. Nader has accomplished for all Americans so far, and that these things are vastly more beneficial than any promulgated/introduced by any recent decades’ incarnation of the two parties owned/operated by the corporate polyarchy that really runs your country ( and mine, for that matter). As to what he WOULD do given the opportunity, well, that is mere conjecture. Though, like I say, at least it can be based on a past performance that shows promise, not merely blood, greed, fear, and hate.
Bless you GF for your patience in trying to educate Jake. It may, however, be a better use of your time if you were to correct him when he posts his non-investment blather in Fly’s forum. Fly’s wider audience contains folks who may be more reachable than Jake’s ultra-small baseball-capped collection of agreers. Me, I just stop by here on occasion in hopes of, one day, getting the chickenhawk to realize that Saddam didn’t fly the planes into our buildings.
Separately, polyarchy implies and equality among participants. But clearly, if this is a corporate polyarchy, some are more equal than others. Perhaps, with Lloyd Blankfein doing “God’s work”, that is as it should be.
Back to your NAMBLA meeting, boy.
Dinosaur Purdy — you are a treasure trove of circa 2004 Blistocrat speak. There’s absolutely zero originality in your whining. Can’t you manage to articulate one point without resorting to such hackneyed Bush Derangment Syndrom lamequotes from half a decade back?
Go back to the Dem Underground, and figure out if Saddam flew into Arianna Huffington’s underpants, there are serious people afoot here, speaking out against your socialist masters latest idocies.
BTW — still haven’t figured out a solution (perhaps a “Final” one?) for your “imbalance of wealth” problem, kommisar?
We’re waaaaiiiiitttingggggg…..
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Why do you hate America?
Anyway, my “redistribution” is complicated, but I’ll outline it in crayon for you and yours. It involves radical tax law change – politically impossible today – but in the chaos that will be the consequence of your hero’s and Obama’s policies – and with a strong, beneficent and knowledgeable leader – – who knows?
First, a low rate flat tax with deductions for nothing – not for yourself, your children , nor child care, religious donations, health care, and certainly not for housing, corn, milk, not growing corn, etc., etc.
And here’s the complicated part, people will have to pay for what they use. Complicated because it involves assessing the value of things that may be precious to me, but which are worthless to Neanderthal chickenhawks.
For example, gasoline might have a tax on each gallon that covers, not only road construction and maintenance and the cost of our military maintaining shipping from hostile oil-exporting areas, but also the cost of using up clean air.
Imbedded in the cost of food would be costs passed on by farmers who use chemical fertilzers and pesticides for the societal costs of producing and using those those things.
There would not be a flat VAT type of tax, but only this rather more complex tax which seeks to embed in the price of everything purchased, the true societal cost of producing and using that thing. Also, when a thing is thrown away, the owner would have to pay the full cost of throwing it away (recycling it or maintain its landfill as it decays for perhaps thousands of years).
Cap gains and dividends would be subject to the same low flat tax as earned income. The only tax that would approach confiscatory would be the inheritance tax …so that the idiot lazy sons (hi Jake) of the financially successful have to get a real job.
BTW, the only redistribution that I advocate is that which is accomplished by requiring full disclosure, stockholder activism to encourage long vesting periods for comp, and generally, patriotic citizen agitation.
You’d better review your own previous post (made what, two minutes before this one? How many drugs do you smoke on a daily basis, btw?) before you engage in such follow up stupidity Dinosaur Purdy.
You just stated you advocate a statist taking of additional taxes to “pay for” exogenous events important to you, but obviously not to the free market that prices such things (engendering yet another turd filled bureaucracy, oh joy!), and then FINISHED by stropping for the Death Tax so you could steal family’s property to burnish your envy problems.
Statists can’t hide their authoritarian intentions from those who beleive in liberty, and leaving others alone, although it sure looks like you’re doing a good job of hiding yourself from yourself.
Move on back to squares?
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Get beyond your idiotic labels man.
Requiring that people pay for the cost of the stuff they use IS to use market forces. Forcing me to pay for the cost of your Hummer’s spew is the opposite of the market allocating costs appropriately.
Try to think instead of categorizing.
I truly would like to educate you …but its getting to be a full-time job.
A new tax system will inevitably be raped and pillaged in the name of stimulation and incentives much the way the current system has been … that’s the problem.
Eggsactly, Teahhouse — (my response above is to Purdy, not you).
Purdy is marking himself as a kampus klown, as the above regurge from him is merely the latest “liberal speak” on the Madow College circuiut that tries to hide it’s inherent authoritarian bent with broad bullshit about the “commons.”
They are just looking for another way to be “the Man.” Liberals, they just CANNOT help themselves.
Purdy needs to get a job, a wife, a family, and get a taste of what life is like when Dad’s not paying the tuition bills.
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Ahhh, a secret statist — the best kind.
Your hilarious perceptions of my “elite” status (you hear that one DMG — I’m an “inheritance case” — you too, I guess?) aside, I wonder why you make such knee-jerk (and typically bitter leftist) assumptions about military service, and provenance of my capital? Are you that envious a little turd? Or do you merely lack imagination?
Also — why do you keep referring to your crayon? Is that all they’ll allow you in the home for the Schizophrenically Liberal?
And you are going to figure out “the embedded cost” of every exogneous event or is it going to be your State Thug buddies with the guns?
You are fooling absolutely no one, Purdy, and the hilarious thing is your sophomore year knee jerk neo-leftis vocabulary (and previously mentioned lack of imagination) gives you away every time.
Get some perspective son. Get out, get a job and come back to me in 20 years, abashed but a better person for it.
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I know that you’ve never been in combat. Have you? Tell us where.
I’ve never met anyone who has actually experienced war who so cavalierly sends other people’s sons to fight them. Fucking liar.
What in the fuck are you talking about you deranged idiot?
I have two sibs in the military, one a West Pointer, one a Marine. Go screw yourself you presumptive, disrespectful, arrogant little twit.
You are beneath dishoner. A true undergraduate.
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Katz sounds like a stand up gentleman. A major of mathematics with interest in the Austrian school? He and I could converse happily for several hours, I would guess.
You forgot to include the paragraph before that one, where he calls Keynes and the Keyenesians “crackpots”. I would be nicer, and simply call John Keynes a two bit mathematician, unspecial, and his ilk, lackluster forces of mediocrity.
RBI.to: hoo hooooo! Have you learned your lesson yet, DMG? Actually, nevermind, I doubt a eunuch like youslef can even be taught,
Goin — you need to recommend stocks that can be traded in these markets. The volatility premium is not worth the risk on the Canuckistanian-only stuff.
This is a “safe money” blog, not a quick trade site like CA’s.
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You silly little muppet, GF.
First, never address me directly, as you are not weurthy (sic).
2nd, Yes, I have been keeping an eye on RBI since you mentioned that your friend told you about it.
Not a bad call, congrats. It’s easy to get on the jakegint bandwagon after he’s been pounding the table for months now on the PM family
.
Where were you when i was buying SLW in the $4’s, BAC in the $4’s, PNC at $25, jackass?
To address my honesty directly to you DMG: I didn’t read Jake much back then, too much “My country, Right or Wrong’, “America: Love it or Leave it you Pinko Punk”, and “Ayn Rand: Boy, I’d love to tap that!” background noise for me to take the guy seriously; so I humbly admit it took me awhile to notice that when it comes to the intrinsic preciousness of metals/mining companies at least, he and I are on the same page of a great piece of non-fiction.
And not a single one of my 100% correct calls here have come directly from Jake, or anyone else on IBC (unless there is someone I know operating here under a psuedonym of which I am not aware), RBI.to being an absolutely prime example of this. So I haven’t been ‘pounding’ any ‘bandwagons’, unless you’re implying that merely being bullish on PM’s, like so many others, qualifies you for that label. You may need to delve a lot to see it, so don’t worry: I certainly don’t expect you to bother. On the other hand I’ll take,
“2nd, Yes, I have been keeping an eye on RBI since you mentioned that your friend told you about it. Not a bad call, congrats…”,
as a compliment, thank you.
Jake, I have discussed many opportunities on your’s and Mr.Fly’s pages that were not wholly Cdn plays, stop blinking.
What a lie. You were one of the first commenters on my blog.
You want me drag up the archives? You couldn’t wait to jump on the “Defend La Internationale” bandwagon.
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Grinding you within my crushing grip of reason in political banter hardly constitutes jumping on your PM bandwagon Jakesky. I was posting winning PM calls on Mr. Fly’s well before you won this page… which is plainly the gist of my last comment; somehow you seemed to have missed it. Not that I blame you entirely, this post is generating some heavy traffic; you’re a busy man. But put on your high heels and ‘drag’ away, if that is really your thing.
Goin, get cereal– you are a nut, known only for haunting this blog.
I am perhaps one of three people on the globe that can make out something of what you are saying.
Be appreciative.
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One of you might be able to tell me this without too much research:
What country leads the world and has led the world in medicinal innovation and technology?
Who and where are the altruism-motivated individuals elsewhere whom Goin’Fawr is talking about?
Not to state the obvious: but if greed is the only motivator worth anything, then what YOU are implying is that any member of any country’s armed forces is nothing more than a sociopathic mercenary, no?
Again, this is idiocy.
Why are lefties hung up on the word “greed?” Why do they think natural economic actors acting in self interest (which includes acts of altruism, btw) are a reflection of “greed?”
I might as well paint you all as forces of “envy.” It’s far more indictable an offense, given your wish to take from those by force of the gun, like a common theif, in the name of redistribution.
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Is there a difference between using a gun (taxes) or the computer (short market into oblivion) when it comes to theft or redistribution?
Somehow you sound as though it’s acceptable that hedge funds etal shorted the financial institutions and the country into a near depression while prospering from that action and hence redistributed as much of Joe Sixpack’s wealth into their own accounts and even still wait for him to be foreclosed upon to buy his property at auction ala the Dust Bowl, Katrina, etc. in the name of “financial or work related incentive.” Sure that is the ugly aspect and reality of capitalism but when Joe Sixpack gets mugged for the umpteenth time and witnesses those same characters that redistributed his wealth, rewarding themselves with taxpayer financed bonuses for their incentive laden work, then how long before Joe picks up a torch and seeks out retribution on the Frankenstein Monster.
As a counterbalance to that aspect of capitalism we have a graduated tax rate that is intent on redistribution of what some would call ill-gotten gains to protect the less savvy via gov’t safety-nets not to mention the national defense and basic services. Apparently the same people that are prospering from this country’s economic philosophy didn’t read the rule book and feel no obligation to support its’ future via their defined tax obligation. Keep waving the flag and supporting our troops but without your tax dollars, right? Hypocrites, all those lying bastards!
But conservatives, not unlike yourself, have and continue to erode the tax structure for those with the most egregious of incomes via their Goebbels like propaganda invoking the names of Kennedy and Reagan to justify their greed (your word not mine). And, let’s not forget how unproductive a good majority of their “work” is relative to infrastructure and manufacturing. Go ahead, make the argument that they provide investment capital but come on …. to whom?
Sorry, but I have to agree that a shrinking middle class at the expense of the super-wealthy will results in civil unrest and revolution at some point – I just don’t know when Joe Sixpack will break but there has been anecdotal evidence lately as we witness more and more of this:
http://www.orlandosentinel.com/news/crime/os-shooting-reported-downtown-orlando-20091106,0,2873337.story
Ok, resume the ad hominem attacks now … we are accustomed.
Teahouse, yours is not an uncommon populist plaint, and it’s not a new one as it’s been hot since the first Utopians made their play in ancient Greece.
As far as your specific rant, everyone is going to blame the bankers, etc, when times go bad. I’m kind of indifferent, as I think quite a few of them deserve a good comeuppance — nothing’s for free, etc, and alot of them have been getting a free ride thanks to the Fed and our crappy system of currency devaluatiojn.
As far as taxes, why do you think a progressive system is a “good thing?” You believe the government a better distributor of income than the free market system that supports it?
Kind of backward, I’d say. But then, that’s populism — it’s not very logical.
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I guess I’ve been schooled (parent or private ed) into believing that those who prosper the most should be the least combatant on paying for that privilege. Don’t get me wrong … no taxation w/o representation etc, but I think our “freedom” (some equate that with speech while others equate that with wealth) comes at a cost and those that have prospered the most from that freedom s/b willing and patriotic in supporting this country and the opportunity it provides for themselves, their families and others now and in the future. I just don’t see a tax system that can support our society that is not levered to those that have benefited the most economically. And, one has to question whether it is even fair to expect the most down trodden to provide taxes at an equal rate given the inability to earn at an equal rate or support their families at an unequal level.
http://www.taxfoundation.org/blog/show/24944.html
E8, check out the above link. I’ll paste a snippet below to entice you to visit it.
“However, the recent IRS data bolsters the findings of an OECD study released last year showing that the U.S.—not France or Sweden—has the most progressive income tax system among OECD nations. We rely more heavily on the top 10 percent of taxpayers than does any nation and our poor people have the lowest tax burden of those in any nation.”
Of course that’s true Wood, but I didn’t take Teahouse’s argument as one denying we have a progressive system. He’s only saying “soak the rich” is a good idea.
And I put it to him again — no matter what his parents told him — why in the world would he think the rich could better support the rest of society with their funds being filtered through a massive toll-taking bureaucracy in Washington?
I’m sure Teahouse hasn’t had much economics, and this is the problem with much of populism. People think “soaking the rich” is a good thing because they have no idea that money is fungible and that money sent to Washington doesn’t necessarily accrue to the benefit of anyone save power grabbers in Washington.
Think about it. If an industrialist in Franklin, MA had to give 30% of his income to Washington, an another 15-25 to the state and locality, how much disposable income does he have left to participate in the free market economy of his locality? How much does he have left over to invest in new projects in his region?
Why do you guys think there’s always a spike of economic activity when marginal rates are cut?
Always.
As there will be again when Obama and the other socialists are chucked out. Talk about “setting the table!”
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With a degree in accounting from a top business school I assure you I’ve had my fill of economics as well as liberal training to think outside of the box on these matters.
I don’t think of soaking the rich as “a good thing” but as a necessity based on our current circumstances … no doubt the gov’t hasn’t been the best fiduciary of public funds but neither has the free market proven to be devoid of fraud and waste given Madoff, Ponzi, Enron, etc … you get my point.
Consider the possibility that a national health care plan may lock in benefits to the populace at a cost that must be dealt with forcing our politicians into make tough decisions on budgetary balancing rather than paying for it tomorrow. Kind of a demand sided economy where they are forced to make cuts and guard their income to meet the needs of the nation. Granted, this is pie in the sky given what’s happened with SS and Medicare so far but at some point the house & senate will be like a condo mgmt company that hasn’t been responsible with owner reserves when reality hits home and the roofs all need replacing.
Oh, regarding the spike when rates are cut .. it inevitably happens just as the economy is bottoming and no doubt would have happened anyway just a matter of when.
Never doubted it Wood and rightfully so I suspect …… I mean, if my income were $20M/year, like Gates & Buffet I wouldn’t have any problem with my tax rate either and would pay it gladly, haha!
Some I’ve had contact with even take more to compensate for the lost tax $ … what a luxury, eh?
Teahouse, this is where you fall into the trap of the statists.
Gates and Buffet’s income is immaterial compared to their vast wealth. Buffet thinks so little of income that he pays himself one dollar a year for working at BRKA.
All income taxes do is keep people from investing their spare cash in projects that might bring them and their society a positive return. In that way they are almost regressively feudal in that they keep those who “already have” theirs from the competition of those striving to improve themselves.
They are a hurdle to the middle class, not a boon to them.
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While I’ve got your attention:
http://www.taxfoundation.org/blog/show/23478.html
“The study is particularly timely in light of the new OECD rankings of corporate taxes among the 30 OECD nations. It shows that the U.S. continues to have the 2nd highest overall corporate tax rate among industrialized countries. Only Japan has a higher overall rate.
Worst of all, since nine countries cut their corporate tax rates this year, the overall OECD average fell by a full percentage point, from 27.6 percent to 26.6 percent. This means that the U.S. rate is now 50 percent higher than the OECD average.”
Re the banks – that’s the dichotomy of todays’ capitalism … the gov’t should have treated them the same way they treat their defaulters. The fed should have placed all those $ in the hands of successful mid and large well managed banks and broken up the big ones and sold them off to the newly anointed good banks. Fear and urgency no doubt prevented this but the credit system and financial well being of both Wall & Main Streets would be far better off than we are now and for years to come I suspect.
Half right.
The gov’t should’t have “done” anything.
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Would have trickled down anyway except the fiat $ would have been more beneficial in the hands of the good banks ….
Aside: So sorry about the Giants but I warned you about their win-loss record. Now that the Pats face Indy & NO in the next three weeks we can test their metal [sic].
E8, I like you, and I don’t feel like dragging out the link, so I’ll leave it like this:
You are wrong about our tax structure. It is more progressive than many European countries.
Secondly, you are wrong about the middle class. The only thing that has changed about the middle class are the semantics the IRS uses to describe it.
Please Wood …. stop prefacing your political comments to me with “I like you but” … that doesn’t circumvent the fact that you despise my political philosophy or somehow make it OK for you to invoke, “you are wrong” as though you are somehow correct.
This is not Europe! They have not and never will support rebuilding or defending other nations to the extent this country does at taxpayer expense.
The IRS didn’t change the fact that we have two-wage earners to support a modest family today. I’ve seen the deterioration of the middle class from my youth when my grandfather supported a family of 7 to my father supporting a family of 4 to current families needing two-wage earners to survive. No doubt some have mismanaged their resources but the writing is on the wall and you sir are naive in thinking otherwise …
Nah, I meant that “I like you” as in you are not one that I would argue with about this. I would rather access your EW stuff, or pick your brain in other areas than argue politics, economics, etc.
I really do not have a clue about your political philosophy.
Haha … I do have an eclectic opinion on politics, religion and such … carry on!
50 post replies and not one answered my friggin’ question!!
I assumed it was rhetorical.
There’s definitely one troll up there (or maybe previous thread) who refuses to answer that question on ideological grounds.
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Hammy ‘n’ Jake:
“What country leads the world and has led the world in medicinal innovation and technology?
Who and where are the altruism-motivated individuals elsewhere whom Goin’Fawr is talking about?”
Either that is two questions or my mathematical skills are going asymptotic, Devil Dog style.
That first one is a pretty broad question; How far back you wanna go, Hammy my boy? Or do you wanna talk positive impact? If that is the case, let’s talk insulin, that is a pretty important discovery for overweight societies like yours, no? University of Toronto, Frederick Banting. I know, I know, that shit is no where near as glamorous as implants or Viagra. I guess it all comes down to how you want to define ‘innovations’. This will just get epistemological right smartly, especially with all the ethnocentricity exploding from our host.
2nd Question I answered already. But I will Trump it with a Trudeau and answer with another question: Who and where are the altruism-motivated individuals, ANYWHERE, these days? We sure could use some…
see reply in Jake’s next post
RBI..Redback is a very good African play..about $3.5bn mkt cap…better than some of the other African plays put there…as time goes on unless there is already a listing , won’t see as many companies listing on US exchanges, unless they need really big amounts of capital
“really big amounts of capital” Which Redback just keeps producing for itself, hehe. Keep keeping it really Rhill.
Disclaimer: Don’t be a Petr Klima; do your own back-checking.
great RGLD and AUY post last week.
What gives with RGLD????
Gives?
It’s BTFO to new all time highs. Wouldn’t be surprised to see a pullback to the breakout however, at $49.88.
Feel free to grab more if it does return to that line.
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Jake,
Just to let you know, I went from a 5% position in PMPIX on 10/30, to a 10% position on 11/4 to a 15% position on 11/6. As these are in play on the next trading day, I’ve made some money each time. Today was especially good as it was a 5.94% day.
In hindsight, I suppose I should have had 100% of my portfolio on the line, but that’s hindsight.
Wondering what you thoughts are on keeping the same percentage, upping it or pulling back a little?
With regard to trending, my software just flashed a trend today, but then again following trends can create whiplash in the short term.
Earlier you posted something about being cautious in spot gold at about 1010.
Any thoughts?
I am going to begin calling you “Pimpin’ 5-0!”
I can’t really comment on your position sizing, but it sounds like it’s working well for you. There are a myriad questions.
How close are you to retirement?
Are these “food and shelter” funds?
Are you a full time trader now?
Is the rest of your portfolio in cash or short term bonds?
All of these (and more) will give me a better picture of your personal situation. The one thing I can say is that you seem to be getting more comfortable in your skin on these positions.
The other thing I can say is that we are in a bull market here, and I don’t see any signs of changing, so I don’t think you want to be “100% out” at any time, even if you do feel comfortable taking short term taxable gains.
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Also — I was looking at $1120 as a short term target for gold.
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Thanks Jake,
I am in retirement, but not ready yet to get thrown down stairs or flushed into sewer pipes.
These are not “food and shelter funds,” but some of the yearly gains are used for entertainment.
I am not a full-time trader, but try to put in about an hour or two in per day with analysis, reading this blog, etc.
The rest of my portfolio goes back and forth from cash to a Profunds fund, mainly the BLPIX (1xs&p) or ULPIX (2xs&p) depending on the trend as determined by several different trend following systems.
I got into precious metal and some oil recently with small positions as they seemed to be decoupling from the rest of the market at least recently.
I’m trading these etfs, because they are less time consuming and I don’t want to be a full timer at this stage of my life.
As always Jake, I appreciate your advice especially the short term target!!!
P.S.
I’m hoping to acquire the PPT as a Christmas present to see how I can use it in conjunction with my trend following systems. From what I can gleen from outside the PPT, they seem to work quite differently, i.e., the PPT score attempts to get you in at the bottom and out at the top, whereas the trend systems attempt to get the sweet spot, the 70% middle, but never the beginning or end of the trend. Should be interesting to see if these two can be combined in any meaningful way.
5-0, did you design your TF systems?
No, I wish I had. Some are virtually free and other costs.
However, they all seem to catch most of the trend with some being more accurate at times.
Although, I honestly haven’t had enough time with all of them to do a thorough evaluation.
However, like all trend following systems, they’re subject to whipsaw.
Give me a good long trend though and watch out!!
You will be very happy with the PPT. If only for the community of robust traders we’ve built within.
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