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Sunday November 8, 2009

DrStockPick.com Article!

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Let’s call it what it is; It’s Reagan’s Fault!

The government, both state and federal, is on a feeding frenzy to save the banks, the real reason is that the banks are the feeding ground for our politicians, in fact any office seeker is beholden to the banks for their financial support. As such there will never be any meaningful control over these institutions.

There are now 140 fewer banks then there was last year, and the too big to fail have gotten even larger, and now

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Recently, Rep. Alan Grayson (D-FL) quipped on the floor of the House that the GOP health care plan amounted to: "1) Don’t get sick, and 2) If you do get sick, die quickly." Yesterday, John Boehner (R-OH), the top GOP man in the House, finally unveiled the official GOP plan...and did little to disprove Rep. Grayson. The GOP plan would allow firms like WellPoint (WLP) and Aetna (AET) to continue to deny coverage based on pre-existing conditions. It would not offer any subsidies to the working poor to help them get covered, and would not require people to buy health insurance, or for employers to offer it. It would make it harder for people to sue if they are injured by medical malpractice. The use of contingency fees by lawyers in malpractice suits would be strictly limited. Thus, for example, if the doctor misread your ...

A bill to freeze cuts to doctors’ Medicare payments – one that should have been heavily bipartisan – is now in serious danger of passing. The American Medical Association (AMA) promised Majority Leader Harry Reid (D) 27 Republican votes, but now it appears there are as few as two. Undoubtedly, 27 is an ambitious number for any bipartisan bill, but the enormous drop in support is indicative of an overwhelming feeling in Washington. It is a sentiment against any healthcare reform, one that has grown within the Republican party and continues to spread across the aisle to conservative Democrats. Though we at Election Stocks still believe something will pass reforming the healthcare system, these kind of let downs are still quite alarming.

Irina Fet and Irina Shipitko are a lesbian couple looking to change public perceptions in Russia by succeeding in getting the country's first legal gay marriage ... however the latest court decision has swiftly dismissed their request.  Yet another check mark in the column making the Russian leadership most similar to the GOP, some of whom believe that gay marriage leads to socialism.So I guess Russia's refusal to allow gay marriage marks the final transition to free market capitalism?  Ignorance is a surplus good these days...

One of the traits that people prize most in dogs is loyalty. However, the question then becomes loyalty to whom or what? In the case of the "Blue Dog Caucus," the group of Congressional Democrats that has emerged as the major player in health care reform, it appears that its loyalty is first and foremost to its big campaign contributors -- the health insurance firms and the drug companies. The general claim that they make is that they are worried about the fiscal consequences of health care reform, but when it comes to specifics, they are most opposed to the very elements of the reform package that are most likely to be successful in driving down the overall cost. It is easy to figure out why the GOP is united in opposition to the primary plans being debated in Congress. (Some members of the GOP have proposed ...

Long-suffering readers will be aware of our low opinion here at Notes of government economic statistics. The truth of the matter is that many of them are fudged. Don’t just take our word for it. According to Kevin Philips, former Republican Party strategist and author of Bad Money, “Ever since the 1960s, Washington has gulled its citizens and creditors by debasing official statistics, the vital instruments with which the muscle and vitality of the American economy are measured.”

Take the Consumer Price Index, a widely used measure of inflation. It tracks inflation in part by comparing a basket of commonly consumed goods over the years.

Governments don’t like inflation. So they simply pull a fast one on Joe Public and swap the goods in the basket as it suits them. This from TradeSystemGuru.com’s Matt Blackman:

In an effort to keep inflation down and accentuate growth, statisticians shamelessly distort and manipulate the data. For example, the Consumer ...

The big under-reported part of the unemployment situation is the increasing duration of unemployment. Being out of work for three weeks is very different than being out of work for 30 weeks. While over half the states and more than half the population does have extended unemployment benefits, it is a very scary prospect to not only be without a paycheck, but also having already exhausted your unemployment benefits. That means no income coming in, and given how low the savings rate has been over the past decade, likely no money period.Economically it further depresses your spending, and psychologically it is just plain depressing. The average length of unemployment rose to 22.5 weeks in May from 21.4 weeks in April, and is up from 16.8 weeks a year ago. The median length of unemployment has also gone up sharply, reaching 14.9 weeks in May versus 12.5 weeks ...

While investors’ attention was focused on global government bond yields marching higher, the holiday-shortened week produced a surprisingly small number of video clips.

Some quality footage was nevertheless produced, featuring the likes of David Rosenberg, now in his new role as chief economist and strategist of Gluskin Sheff, Mohamed El-Erian, Barry Ritholtz, Puru Saxena and Mario Gabelli.

And then there is “out of the box” analyst Marc Faber arguing that the US economy will enter “hyperinflation” approaching the levels in Zimbabwe. “I am 100% sure that the US will go into hyperinflation,” Faber said in an interview with Bloomberg. “The problem with government debt growing so much is that when the time comes and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.”

The selection kicks off with a humorous take by Emmy

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The market has staged a very impressive rally since the March 6th low. At that time the S&P bottomed at 666 and is now around 900. This massive rally has occurred in just two and a half months. Some talking heads in the media are now saying that this is the start of the next bull market. Many call a move of 20% or more a bull market and perhaps by that definition they are correct. However, the decline seen last year should then be called a ‘mega bear’ as the S&P went from 1576 to 666 in just 18 months.

Some market technicians like myself, that follow cycles, were looking for a rally in the market in the month of March. It is very common to see major reversals or turning points in the months of March and October. Even last March (2008), as Bear Stearns collapsed it was

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What’s the true cause of inflation? Jimmy Carter underrated? Really? And what makes Von Mises right after all these years? Read on to find out…Thank you (once again) for all your excellent responses on the Obama-Carter connection. When your thoughts and comments roll in, my only lament is a lack of space in which to reply.

Well, that and one other small quibble. Where are all the haters? Surely more of you must think I’m off my rocker, or otherwise dead wrong somehow. Let’s start off with a rare bit of snark just for sport…

The lessons learned from the past…8 years of taking us down…and now a dynamic leader trying to pull it together…and presenting a better picture of America to the world…now, can you or Rush Bimbo do that?

– TD reader NB

Rush who? I’m not up on the guy, as I haven’t paid attention to him since the early ’90s.

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