I have known for a couple of months that Steve Jobs, CEO of Apple, has been seriously ill. I considered that information highly credible. I obtained that information via people who would be in a position to know. I certainly don't travel in those circles.
I love Jobs. He is the kind of a man that every parent hopes their kids will become. Apple is Steve Jobs. Without his charismatic and intelligent leadership, Apple is destined to become just another company. I believe that. It was proven to me years ago when the board ousted the owner and aapl traded like a penny stock. Since his resurrection, aapl has become the icon of the stock market. It trades north of 350.00 bucks a share and I am beginning to believe everybody in this country owns some Ishit. Every hedge fund, mutual fund, retirement fund, and investment bank owns their stock.
So just as soon as Jobs announced his leave of absence from Apple, Goldman Sachs and every other greedy owner of Apple stock started in with the usual damage control. Minimizing what Jobs departure will do. Some cite that the Iphone goes on sale for Verizon. The earnings report, which I expect to be the usual blowout, is expected this week.
I have been listening to the band all morning, playing music on the deck of the Apple Titanic via CNBC. Giant funds can't dump their aapl hordes of stock like small investors can- the only thing they can do is wax optimistic and hope the sheep don't sell. So they can start secretly liquidating positions and looking for the exits. That Apple stock is only down 15 bucks a share, or 3%, is proof positive of the power of these carnival hawksters.
Short term, Apple will be fine. Jobs is too intelligent to leave Apple at a vulnerable time. Apple on paper, looks attractive even at 350 buck levels.
About six weeks ago, I learned of Steve Job's latest illness and battle. It left me in an odd predicament. Should I profit from this news and buy put options? Should I stick it to some anonymous moron who wrote covered calls as insurance? How far out of the money and what time frame should I use? In the end, I simply couldn't do it. I mulled it over for days. Really. That I hate this steroid, POMO induced, zombie stock market was certainly part of my decision. But in the end, I couldn't do it. The reality is simple. Steve Jobs is one of my heroes. I am more concerned with his health than I am about profiting from his predicament. To profit from his misfortune makes me just as sick as the millions of people who will. Oh sure, they will rationalize it. Tell themselves there is nothing wrong with that. It's business.
Noticeably absent from all of the talk today, is that Steve Jobs' is gravely ill. That he is a human being, That he has a family and friends who despite all of the success of Apple are seriously concerned and fearful. There is no compassion for Jobs or his family. No well wishing. Nobody talks about that. Nobody cares. All I've heard is wealth preservation schtick all morning long. The earnings report is tonight.
I am proud that I didn't buy those put options. I am glad that I didn't participate in this sick market that is desperately minimizing Jobs' leave of absence today and keeping the stock price afloat. A market that ignores the feelings of his family. I hope that Jobs' family does not turn a TV on today. I am going to pray for him and his family. I am going to pray for a man who decided a long time ago what kind of a man he wanted to be. The kind of man that we have a serious shortage of. I'd truly hate to try and fill his shoes. The world is a better place with Jobs in it. All those greedy stock owners and traders? Not so much.
Tuesday, January 18, 2011
Monday, January 17, 2011
Barack Obama Has Never Let Me Down
Hunter Thompson, the outlaw journalist and drop out author, hated President Nixon. Thompson even dedicated one of his books to President Nixon. "Richard Nixon he said, never let me down."
Back in ought eight, (we say shit like that out west) I was scratching my head and wondering just who the hell Barack Obama was and where did he come from?
At the time, I was living in New Orleans. I would like to mention an interesting thing. In the white community of New Orleans, Mr. Obama was subject to a fair amount of racism. I witnessed more than a couple of casual and nasty- racially driven remarks. I didn't care so much about his skin tone. I wanted to know what kind of a man he was.
When Obama quietly threw his minister under the bus for his "Goddamn America" remarks, odd remarks for sure, I got my first window into this guy. Now Reverend Wright's remarks were terribly out of line but it's not like I haven't made stupid statements before or seen others put their feet in their mouth. Had Obama defended Wright's free speech rights, I would have given him a high score. But when Barack distanced himself from Wright, a guy he had been listening to for some 20 years, I began to postulate that people were expendable to Obama. His career goal of becoming President was his priority.
The second window occurred when he canned Inspector General Walpin. That guy was supposed to be protected from Presidential interference. Given the task to see that government funds were spent appropriately- he found Obama's buddy- Mayor Kevin Johnson of Sacramento diverting them. Essentially embezzling them. This is a fresh and just published version of that episode. http://washingtonexaminer.com/blogs/beltway-confidential/2009/06/gerald-walpin-speaks-inside-story-americorps-firing
I was beginning to suspect that Obama was one of those power wielding assholes that I can't stomach. They are never concerned with doing the right thing- like supporting free speech or supporting some guy charged with doing a responsible job. Instead, they act out of anger- doing things which are emotionally gratifying to them and politically expedient. And wrong. They do it because they can, not because it is right.
Remember the beer summit? Obama immediately jumped all over that poor cop just doing his job and shaking down some black homeowner that he thought was a burglary suspect. A mistake that was prolonged by the homeowner acting like an asshole. Obama's willingness to jump to conclusions before the facts were in- told me that he jumps to conclusions. That is not the cool- wait for all of the facts- decision making I want in the white house. But it did lead to a fantastic distraction. The beer summit. The beer summit allowed Obama and one black homeowner to publicly save face for behaving stupidly.
I was not surprised to see Obama cave in on the elite tax hikes. It was politically expedient.
That's why I wasn't surprised that Obama used the Tucson shooting for a platform for political expediency. He has already shown me that he does things because he can, not because it is the right thing to do. Might never makes right. Very often, selfless people will not promote personal agendas at events that do not call for that type of behavior. Selfish people do.
I am not concerned with Mr. Obama's birth certificate, his pass port, his school transcripts, or who wrote his books. Those are all opaque things, things that Obama wants to keep concealed. This is the guy who called for transparency. The guy who claimed to put the clamps on government officials turned lobbyists in that corrupt little government dance that goes on. All so much bullshit. Just hollow words, words without substance or truth.
It has taken me a couple of years to figure out who President Obama is. President Obama is just your garden variety power broker. He is not special or particularly intelligent. His core values are highly suspect. He does not understand our capacity as individuals to see those things. He woefully underestimates our ability to see real leadership and to discern hollow words. In that way, he has become incredibly transparent to me. That's why I am resigned to seeing two more wasted years. A fantastic opportunity to install the rule of law and gain worldwide respect. Obama blew that opportunity and simply delivered the same old spineless politics. Ahhh...shit.
I don't hate Obama. But I do feel like I understand this guy. Somehow, he just never lets me down.
Back in ought eight, (we say shit like that out west) I was scratching my head and wondering just who the hell Barack Obama was and where did he come from?
At the time, I was living in New Orleans. I would like to mention an interesting thing. In the white community of New Orleans, Mr. Obama was subject to a fair amount of racism. I witnessed more than a couple of casual and nasty- racially driven remarks. I didn't care so much about his skin tone. I wanted to know what kind of a man he was.
When Obama quietly threw his minister under the bus for his "Goddamn America" remarks, odd remarks for sure, I got my first window into this guy. Now Reverend Wright's remarks were terribly out of line but it's not like I haven't made stupid statements before or seen others put their feet in their mouth. Had Obama defended Wright's free speech rights, I would have given him a high score. But when Barack distanced himself from Wright, a guy he had been listening to for some 20 years, I began to postulate that people were expendable to Obama. His career goal of becoming President was his priority.
The second window occurred when he canned Inspector General Walpin. That guy was supposed to be protected from Presidential interference. Given the task to see that government funds were spent appropriately- he found Obama's buddy- Mayor Kevin Johnson of Sacramento diverting them. Essentially embezzling them. This is a fresh and just published version of that episode. http://washingtonexaminer.com/blogs/beltway-confidential/2009/06/gerald-walpin-speaks-inside-story-americorps-firing
I was beginning to suspect that Obama was one of those power wielding assholes that I can't stomach. They are never concerned with doing the right thing- like supporting free speech or supporting some guy charged with doing a responsible job. Instead, they act out of anger- doing things which are emotionally gratifying to them and politically expedient. And wrong. They do it because they can, not because it is right.
Remember the beer summit? Obama immediately jumped all over that poor cop just doing his job and shaking down some black homeowner that he thought was a burglary suspect. A mistake that was prolonged by the homeowner acting like an asshole. Obama's willingness to jump to conclusions before the facts were in- told me that he jumps to conclusions. That is not the cool- wait for all of the facts- decision making I want in the white house. But it did lead to a fantastic distraction. The beer summit. The beer summit allowed Obama and one black homeowner to publicly save face for behaving stupidly.
I was not surprised to see Obama cave in on the elite tax hikes. It was politically expedient.
That's why I wasn't surprised that Obama used the Tucson shooting for a platform for political expediency. He has already shown me that he does things because he can, not because it is the right thing to do. Might never makes right. Very often, selfless people will not promote personal agendas at events that do not call for that type of behavior. Selfish people do.
I am not concerned with Mr. Obama's birth certificate, his pass port, his school transcripts, or who wrote his books. Those are all opaque things, things that Obama wants to keep concealed. This is the guy who called for transparency. The guy who claimed to put the clamps on government officials turned lobbyists in that corrupt little government dance that goes on. All so much bullshit. Just hollow words, words without substance or truth.
It has taken me a couple of years to figure out who President Obama is. President Obama is just your garden variety power broker. He is not special or particularly intelligent. His core values are highly suspect. He does not understand our capacity as individuals to see those things. He woefully underestimates our ability to see real leadership and to discern hollow words. In that way, he has become incredibly transparent to me. That's why I am resigned to seeing two more wasted years. A fantastic opportunity to install the rule of law and gain worldwide respect. Obama blew that opportunity and simply delivered the same old spineless politics. Ahhh...shit.
I don't hate Obama. But I do feel like I understand this guy. Somehow, he just never lets me down.
Sunday, January 16, 2011
Buy Gold and Silver In Gram and Ounce Sizes
One of the nasty consequences of Obamacare was that in an effort to capture virtually every transaction in this country and tax it, they slipped that little section of the law in there that requires a 1099 anytime a business owner conducts a transaction in excess of 600 bucks.
I read a blog today that mentioned that reporting requirement that occurs in 2012. He mistakenly believed that everyone would have to sell in 2011 or be subject to tax. That blog piece is here: http://tartanmarine.blogspot.com/2011/01/2011-last-year-to-sell-precious-metals.html
I have been buying gold in varying sizes. Try to buy gold in one, five, perhaps ten gram sizes. I have been limiting my silver purchases to five ounce coins or less. There are a few reasons for this. They are far more exchangeable in small sizes. You can buy on the dips easier at better prices and average your costs lower. You can sell what you need to in a pinch. The Obamacare reporting requirement is obviously a large part of my decision to do this. One of my bullion dealers sells Eagles in those plastic rolls of 20. Currently he is out.
Clearly if you own gold in one ounce sizes and up- or silver in 100 ounce bars- this year might be the year to convert those sizes into smaller types.
I read a blog today that mentioned that reporting requirement that occurs in 2012. He mistakenly believed that everyone would have to sell in 2011 or be subject to tax. That blog piece is here: http://tartanmarine.blogspot.com/2011/01/2011-last-year-to-sell-precious-metals.html
I have been buying gold in varying sizes. Try to buy gold in one, five, perhaps ten gram sizes. I have been limiting my silver purchases to five ounce coins or less. There are a few reasons for this. They are far more exchangeable in small sizes. You can buy on the dips easier at better prices and average your costs lower. You can sell what you need to in a pinch. The Obamacare reporting requirement is obviously a large part of my decision to do this. One of my bullion dealers sells Eagles in those plastic rolls of 20. Currently he is out.
Clearly if you own gold in one ounce sizes and up- or silver in 100 ounce bars- this year might be the year to convert those sizes into smaller types.
American Insanity
While I was in Nevada last week, I met a man from Oregon who said that Rose Bowl tickets were selling for 1500 dollars. I watched the game for free in the nice warm confines of the casino.
Who pays 1500 dollars for three hours of entertainment? What kind of idiocy makes someone rationalize that watching a college football game for 500 bucks an hour is a worthwhile expenditure?
That's the America I live in now. A hundred thousand people with so much money that they can waste it on shit like that. As a libertarian, I support your right to waste your money anyway that you choose. Here's a comment I snipped from the Economic Collapse Blog. This gal has some sense of priorities which did not include wasting half a months net salary on a sporting event.
Keep up the good work! I am tired of trying to wake people up. My husband and I are only concerned with ourselves (and others who have seen the light). The collapse is coming and its going to be BAD.
Instead of spending $500-$1000 on Atlanta Falcons tickets (yes we had friends that spent that last night for a football game) we took that money and bought more PM and supplies. Its called priorities.
Our "Baroness" has her priorities more in line with the times. I conjure up a picture in my mind of Nero and a nation of idiots paying vast sums for entertainment- fiddling while Rome burns. It reminds me of that bizarre scene in the movie Titanic. The band comes out onto the deck of ship while it is sinking- as though somehow that was the appropriate thing to do.
The Baroness is buying precious metals. The other day on the blog I had a commenter tell me that the government will simply change the rules and outlaw precious metals if the currency collapses. I laugh when I hear that. The government seized gold once. But this time it is different. Nobody is going to turn in their precious metals. I'm not. And the government can pass all of the laws they want- trying to keep us scared and paying us with worthless paper. They're not going to like the metal they get from me.
I have upped my cash conversion levels to 40% precious metals. My deadline is June of this year. Why June? Well that's when the FED and Bernanke wrap up QE2 and the great bank stock buying holiday draws to a close. At that point, the banks still won't be solvent, the economy still won't turn around, tax receipts for the first 9 months are going to come up another trillion short, all those Ca. mortgages begin to reset higher, taxes will ratchet up, inflation and oil will ratchet up (T Boone Pickens is calling it north of 150.00), and the FED is going to have to try QE3. The resistance will be tremendous. Our debt level at that point will be beyond 15 trillion with no end in sight.
Gold and silver took a big hit when the CFTC ruled in favor of big banks once again (Big Surprise!) last week. Apparently they can short silver markets beyond available and existing supply. Option holders should take delivery of the underlying commodity. The underlying commodity is no longer of any consequence. I see this as a huge buying opportunity. Gold and silver may go down a bit further, I'd love to see sub 1300 gold and buy a couple more ounces. Sub 25.00 silver means I'd double my amount.
I love it when people spending 1500 bucks on a football game call me crazy for spending my money on precious metals. Ain't that just rich?
Who pays 1500 dollars for three hours of entertainment? What kind of idiocy makes someone rationalize that watching a college football game for 500 bucks an hour is a worthwhile expenditure?
That's the America I live in now. A hundred thousand people with so much money that they can waste it on shit like that. As a libertarian, I support your right to waste your money anyway that you choose. Here's a comment I snipped from the Economic Collapse Blog. This gal has some sense of priorities which did not include wasting half a months net salary on a sporting event.
Keep up the good work! I am tired of trying to wake people up. My husband and I are only concerned with ourselves (and others who have seen the light). The collapse is coming and its going to be BAD.
Instead of spending $500-$1000 on Atlanta Falcons tickets (yes we had friends that spent that last night for a football game) we took that money and bought more PM and supplies. Its called priorities.
Our "Baroness" has her priorities more in line with the times. I conjure up a picture in my mind of Nero and a nation of idiots paying vast sums for entertainment- fiddling while Rome burns. It reminds me of that bizarre scene in the movie Titanic. The band comes out onto the deck of ship while it is sinking- as though somehow that was the appropriate thing to do.
The Baroness is buying precious metals. The other day on the blog I had a commenter tell me that the government will simply change the rules and outlaw precious metals if the currency collapses. I laugh when I hear that. The government seized gold once. But this time it is different. Nobody is going to turn in their precious metals. I'm not. And the government can pass all of the laws they want- trying to keep us scared and paying us with worthless paper. They're not going to like the metal they get from me.
I have upped my cash conversion levels to 40% precious metals. My deadline is June of this year. Why June? Well that's when the FED and Bernanke wrap up QE2 and the great bank stock buying holiday draws to a close. At that point, the banks still won't be solvent, the economy still won't turn around, tax receipts for the first 9 months are going to come up another trillion short, all those Ca. mortgages begin to reset higher, taxes will ratchet up, inflation and oil will ratchet up (T Boone Pickens is calling it north of 150.00), and the FED is going to have to try QE3. The resistance will be tremendous. Our debt level at that point will be beyond 15 trillion with no end in sight.
Gold and silver took a big hit when the CFTC ruled in favor of big banks once again (Big Surprise!) last week. Apparently they can short silver markets beyond available and existing supply. Option holders should take delivery of the underlying commodity. The underlying commodity is no longer of any consequence. I see this as a huge buying opportunity. Gold and silver may go down a bit further, I'd love to see sub 1300 gold and buy a couple more ounces. Sub 25.00 silver means I'd double my amount.
I love it when people spending 1500 bucks on a football game call me crazy for spending my money on precious metals. Ain't that just rich?
Californians May Go To Polls in June, Vote on the Largest Tax Increase Ever
I sure hope the Governor has a plan B. The best part about asking people to vote is that you can blame them when the cries and the screams are heard up and down the state.
If Governor Brown was really innovative, California could simply print and issue their own currency. Have an inexhaustible supply just like the FED does. They could call it something catchy like the IOU. Muahaha!
http://www.americansforprosperity.org/011111-largest-tax-increase-american-history
If Governor Brown was really innovative, California could simply print and issue their own currency. Have an inexhaustible supply just like the FED does. They could call it something catchy like the IOU. Muahaha!
http://www.americansforprosperity.org/011111-largest-tax-increase-american-history
California Blue Shield Rates Increase 59% March 1, Soon Health Insurance Will Cost More Than a Stockton Mortgage
Pssstt...hey that 500 dollar a month premium your employer pays is going to 800 bucks a month. I'll bet employers will be hiring like crazy. Time to invent some more Ishit.
This is kind of old. I saw it last week and bookmarked it. Thank Gawd we are in a the midst of a great recovery and we can afford it. Pretty boring piece. Note the absence of the term 59% increase in the newletter from Blue Shield. It must have slipped their collective minds.
https://www.blueshieldca.com/bsc/newsroom/pr/statement_rates_010711.jhtml
One of the reasons Blue Cross cited as causing the parabolic rise...healthy people exiting the system. I have been predicting that for three years. As the 59% rise occurs, expect rates to go parabolic as even the marginally healthy GTFO. (get the #$%^ out)
This is kind of old. I saw it last week and bookmarked it. Thank Gawd we are in a the midst of a great recovery and we can afford it. Pretty boring piece. Note the absence of the term 59% increase in the newletter from Blue Shield. It must have slipped their collective minds.
https://www.blueshieldca.com/bsc/newsroom/pr/statement_rates_010711.jhtml
One of the reasons Blue Cross cited as causing the parabolic rise...healthy people exiting the system. I have been predicting that for three years. As the 59% rise occurs, expect rates to go parabolic as even the marginally healthy GTFO. (get the #$%^ out)
Tax Dodgers To Be Made Public
Our two tier criminal justice system is still working fine.
We have the first tier where all of us little schmucks get threatened with prison for fudging our charitable contributions. The second tier justice system is the one reserved for the elite who cheat the government out of billions.
Next week, wikileaks is going to disclose 2000 tax evaders. That would be FELONY tax evaders. These are people with swiss bank accounts and accounts in the Cayman Islands. The list includes 40 politicians. The list is a global one.
I will expect absolutely nothing to happen as usual. We have no rule of law in this country anymore. These folks will be subjected to the 2nd tier of justice where your only fear might be how much money the IRS can wring out of you. No other penalties attach. However when that list gets made public, you can damn sure bet I'll be watching. I would not be surprised to see some really familiar names. I am personally wondering if Hillary and Bill can hit the wikileaks exacta and go two for two.
Now wouldn't that be some shit?
We have the first tier where all of us little schmucks get threatened with prison for fudging our charitable contributions. The second tier justice system is the one reserved for the elite who cheat the government out of billions.
Next week, wikileaks is going to disclose 2000 tax evaders. That would be FELONY tax evaders. These are people with swiss bank accounts and accounts in the Cayman Islands. The list includes 40 politicians. The list is a global one.
I will expect absolutely nothing to happen as usual. We have no rule of law in this country anymore. These folks will be subjected to the 2nd tier of justice where your only fear might be how much money the IRS can wring out of you. No other penalties attach. However when that list gets made public, you can damn sure bet I'll be watching. I would not be surprised to see some really familiar names. I am personally wondering if Hillary and Bill can hit the wikileaks exacta and go two for two.
Now wouldn't that be some shit?
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