About ten years all one needed was a computer, a modem, an online trading account, and a business magazine (or a copy of The Wall Street Journal) and one was in business as a day trader.
I had a friend who did it -- more of a hobby than anything else. On a good day, he would make up to $40. That's right, forty bucks.
I always thought it was too much work for what seemed to be an iffy ROI at best.
Fortunately, our President has figured the same thing out. As he boldly proclaimed yesterday:
"What I am looking for is not the day-to-day gyrations of the stock market ... but the long-term...''
Most folks though, are investors. They are in for the long haul -- whether it's for retirement, a rainy day, or their children's education. They aren't looking at the daily "gyrations." But it's only the obstinate or foolish who can't see the market sinking.
Perhaps it was the tax-dodger, who told Obama, in Cheney-esque fashion, that the stimulus, the budget, and the various bailouts will have them them greeted as liberators on Wall Street.
Then again, maybe not.
Obama is not a stupid man. If he was concerned about the investor-class he would do something about it. His advice to buy more stocks rings false when he continues to burden business with additional "feel-good" regulations; a union-first mentality; and one big tax bill.
Maybe it's time to start thinking that a $40 score is worth it.
Showing posts with label Timothy Geithner. Show all posts
Showing posts with label Timothy Geithner. Show all posts
Wednesday, March 04, 2009
Saturday, February 21, 2009
Ruminations
For a guy who wants to get out of the cocoon, I wonder if Obama got the following message on his BlackBerry: "Gr8 idea about that housing bailout!"
As for the housing bailout, Team Obama may have crossed a threshold. When times are tough, perhaps it can be assumed that people will dig a bit deep to help out. More taxes will mean more people working? Well, ok. More taxes to help a guy who bought too much house for too little money? Now, you're playing me for a sucker.
Good to see David Brooks paying attention during his weekly chat with Mark Shields. The latter was talking about all the problems that confront the President, to include the formation of a right-wing government in Israel. Brooks countered that that development wasn't exactly bad. (Well perhaps it is for BHO.)
Conan O'Brien has left New York. Somehow, I think they'll manage.
Timmy Geithner didn't have a bad week. It may not last though -- there's always next week.
I hear that a share of the New York Times Company is going for less than $4 a share. So I guess publishing a liberal-infused broadsheet isn't quite a successful business model.
George Pataki for Senate? New York could do worse (i.e., Carolyn Maloney) I hear that Pataki has the White House in his sights, though.
When I was in the Army, there was a torrent of activity before "block leave" would start. Then everyone was gone for two weeks. Seems Congress is the same way. They pass a dreadful spending bill and take off. Why?
For a Speaker, Nancy Pelosi sure lacks that vision thing. From writing a book, that nobody would read to traveling all the way to Rome to get rebuked by the Pope.
Better get your steroids now. With baseball season around the corner, the demand, and the price is likely to go up.
As for the housing bailout, Team Obama may have crossed a threshold. When times are tough, perhaps it can be assumed that people will dig a bit deep to help out. More taxes will mean more people working? Well, ok. More taxes to help a guy who bought too much house for too little money? Now, you're playing me for a sucker.
Good to see David Brooks paying attention during his weekly chat with Mark Shields. The latter was talking about all the problems that confront the President, to include the formation of a right-wing government in Israel. Brooks countered that that development wasn't exactly bad. (Well perhaps it is for BHO.)
Conan O'Brien has left New York. Somehow, I think they'll manage.
Timmy Geithner didn't have a bad week. It may not last though -- there's always next week.
I hear that a share of the New York Times Company is going for less than $4 a share. So I guess publishing a liberal-infused broadsheet isn't quite a successful business model.
George Pataki for Senate? New York could do worse (i.e., Carolyn Maloney) I hear that Pataki has the White House in his sights, though.
When I was in the Army, there was a torrent of activity before "block leave" would start. Then everyone was gone for two weeks. Seems Congress is the same way. They pass a dreadful spending bill and take off. Why?
For a Speaker, Nancy Pelosi sure lacks that vision thing. From writing a book, that nobody would read to traveling all the way to Rome to get rebuked by the Pope.
Better get your steroids now. With baseball season around the corner, the demand, and the price is likely to go up.
Sunday, February 15, 2009
Musings
Sooner or later, the media is going to have to conclude that Joe Biden is a bigger embarrassment than Dan Quayle. The Daily News pathetically runs cover for the Veep by claiming he's got a great resume. They spend one paragraph on that great resume the rest of the article discusses various Bidenisms. Geez.
When President Obama signs the spending (er, stimulus) package. It will be his recession, depression, whatever.
Now that the New York media has beaten up Alex Rodriguez -- what can they do for an encore? It's going to an awkward baseball season, that's for sure.
Timmy Geithner had a bad week last week with his poorly planned TARP II plan. Geez, he had gone a whole week without having a bad week. A country of 300 million and he's the best we can do for a Treasury Secretary?
I like a winter thaw as much as the next guy, but there's something about winter bodies trying to fit into summer clothes that just isn't right. There's a reason why we have a spring, after all.
Maybe the movie, Shopaholic, is a year too late?
Those "Brett's going to do two years with the Jets" stories were only half right after all.
When President Obama signs the spending (er, stimulus) package. It will be his recession, depression, whatever.
Now that the New York media has beaten up Alex Rodriguez -- what can they do for an encore? It's going to an awkward baseball season, that's for sure.
Timmy Geithner had a bad week last week with his poorly planned TARP II plan. Geez, he had gone a whole week without having a bad week. A country of 300 million and he's the best we can do for a Treasury Secretary?
I like a winter thaw as much as the next guy, but there's something about winter bodies trying to fit into summer clothes that just isn't right. There's a reason why we have a spring, after all.
Maybe the movie, Shopaholic, is a year too late?
Those "Brett's going to do two years with the Jets" stories were only half right after all.
Saturday, February 07, 2009
Ruminations
My biggest nightmare? Being trapped in a room with those pitchmen for The New York Times weekender subscription plan. The guy who is "fluent" in three sections scares me.
Those folks who sell Eight O'Clock Coffee are limiting the appeal of their product, right?
The Pro Bowl and the Grammys were held yesterday. The day when the nadirs for both the sports and cultural world collide. Quick -- who won what in 2007? I thought so.
Give credit where it's due: The New York Times has been steadfast on the unsuitability of Geithner and Daschle for Cabinet positions. Moreover, they have been a thorn in the side of Congressman-for-Life Charlie Rangel.
In grammar school, I had a friend pitch a dumb idea to the teacher. He almost had his head ripped off. Nancy Pelosi & Harry Reid have Obama Barack pitching their stimulus plan. When it fails -- like my dumb idea -- who do you think's going to feel the heat from the voters?
Speaking of the stimulus plan, do you recall when you waited until the final weekend for that high school or college term paper? It was a rush job but you were OK with the "C" grade because, well, you didn't really apply yourself -- despite the fact that you had a month to get it done? I get that feeling with the "stimulus" proposal.
If I were Manny Ramirez, I'd be checking my investments about now. Why? Because the days of the million dolar plus incomes may have abruptly come to an end.
On a sad day, I sing a happy song and realize that I'm not Plaxico Burress.
On a really sad day, I sing a happier song and realize that I'm not Roger Clemens.
Those folks who sell Eight O'Clock Coffee are limiting the appeal of their product, right?
The Pro Bowl and the Grammys were held yesterday. The day when the nadirs for both the sports and cultural world collide. Quick -- who won what in 2007? I thought so.
Give credit where it's due: The New York Times has been steadfast on the unsuitability of Geithner and Daschle for Cabinet positions. Moreover, they have been a thorn in the side of Congressman-for-Life Charlie Rangel.
In grammar school, I had a friend pitch a dumb idea to the teacher. He almost had his head ripped off. Nancy Pelosi & Harry Reid have Obama Barack pitching their stimulus plan. When it fails -- like my dumb idea -- who do you think's going to feel the heat from the voters?
Speaking of the stimulus plan, do you recall when you waited until the final weekend for that high school or college term paper? It was a rush job but you were OK with the "C" grade because, well, you didn't really apply yourself -- despite the fact that you had a month to get it done? I get that feeling with the "stimulus" proposal.
If I were Manny Ramirez, I'd be checking my investments about now. Why? Because the days of the million dolar plus incomes may have abruptly come to an end.
On a sad day, I sing a happy song and realize that I'm not Plaxico Burress.
On a really sad day, I sing a happier song and realize that I'm not Roger Clemens.
Tuesday, January 27, 2009
Loose Ends
Hopefully, the final word on a host of issues:
Treasury Secretary Geithner. History will remember him as the tax cheat who became a Treasury Secretary. Unless he engineers a global and long stand recovery and expansion, he will, alas, be known primarily as a tax cheat. (BTW, we're not going to spend our way into a recovery, much less an expansion.) Why he didn't have the decency to resign is a mystery to me.
Caroline Kennedy. Reports indicate that the Kennedy clan is upset at how Governor David Paterson treated Caroline. In the words of the playground taunt, "So what are you going to do about it?" My thinking -- not much. Caroline was the last hope for a Kennedy in the Senate. Alas, Edward Moore Kennedy has an inoperable brain tumor and is not long for this world. His son Patrick, a representative from Rhode Island is better known for his substance abuse than his legislative prowess. Paterson will have his worries in '10 -- the Kennedys will be the least of them.
NYDN's Agenda. It was typical of the mediocre Mikes to blame, well, Paterson for Kennedy's shortcomings. The curious fact remains that it's the New York Times that is battling with the Harlem Congressman and not the populist left-wing rag. They sure give him a space to deny the allegations. It's one of those things that makes one go, "Hmmm."
Lastly, add Filip Bondy to the list of those who think fans should pay more so he can see an improved team play for free.
Treasury Secretary Geithner. History will remember him as the tax cheat who became a Treasury Secretary. Unless he engineers a global and long stand recovery and expansion, he will, alas, be known primarily as a tax cheat. (BTW, we're not going to spend our way into a recovery, much less an expansion.) Why he didn't have the decency to resign is a mystery to me.
Caroline Kennedy. Reports indicate that the Kennedy clan is upset at how Governor David Paterson treated Caroline. In the words of the playground taunt, "So what are you going to do about it?" My thinking -- not much. Caroline was the last hope for a Kennedy in the Senate. Alas, Edward Moore Kennedy has an inoperable brain tumor and is not long for this world. His son Patrick, a representative from Rhode Island is better known for his substance abuse than his legislative prowess. Paterson will have his worries in '10 -- the Kennedys will be the least of them.
NYDN's Agenda. It was typical of the mediocre Mikes to blame, well, Paterson for Kennedy's shortcomings. The curious fact remains that it's the New York Times that is battling with the Harlem Congressman and not the populist left-wing rag. They sure give him a space to deny the allegations. It's one of those things that makes one go, "Hmmm."
Lastly, add Filip Bondy to the list of those who think fans should pay more so he can see an improved team play for free.
Saturday, January 24, 2009
Saturday's Musings
He may have been sworn in, but Barack Obama's mind is still on the campaign trail. That's the only explanation I have for his zinger directed at conservative radio personality Rush Limbaugh. Bill Clinton also made the same mistake of attacking -- and thus elevating -- Rush Both gentlemen forgot the rule when dealing with a critic -- that's to ignore him.
Speaking of Clinton, it's curious to hear Obama & Biden claim that the economy is worse than they thought. Clinton made the same charge when he took command of the Oval Office. It wasn't like they were praising it during the campaign. But by claiming it's worse -- well, that gives them a whole lot of room to maneuver.
For a guy who cannot properly file his taxes, Timothy Geithner must have some other redeeming qualities to make him a must for Secretary of the Treasury. It's not like he did a bang up job at the New York Fed is it? When the economic stimulus fails -- and it will -- Geither's scalp will be the first to fall.
The rationale -- "we'll figure something out" -- doesn't wash when it comes to where are we going to put the Gitmo detainees in a year's time. Don't file the Gitmo matter under "decisiveness" any time soon.
The mediocre Mikes -- Daly & Lupica of the New York Daily News probably spent most of yesterday wiping the eggs off their faces. Both fawned over Caroline "You Know" Kennedy in her run up to what was supposed to be an inevitable selection by Governor Paterson. However, taxes, a nanny "issue", and a supposed extra marital affair ruined her chances. It may be best for Ms. Kennedy to return to a more private life.
It was interesting to see David Brooks on PBS last night and realize that he's in the employ of a Mexican businessman. I'm sure that some of the $250 million will be paying salaries for those working for The New York Times. We'll see soon what kind of coverage a quarter of a billion dollars can buy.
You know when we'll hit the rock bottom of this recession? When the gossip tabloids and magazines start laying off personnel.
Future mea culpas (or "what was I thinking?"):
Speaking of Clinton, it's curious to hear Obama & Biden claim that the economy is worse than they thought. Clinton made the same charge when he took command of the Oval Office. It wasn't like they were praising it during the campaign. But by claiming it's worse -- well, that gives them a whole lot of room to maneuver.
For a guy who cannot properly file his taxes, Timothy Geithner must have some other redeeming qualities to make him a must for Secretary of the Treasury. It's not like he did a bang up job at the New York Fed is it? When the economic stimulus fails -- and it will -- Geither's scalp will be the first to fall.
The rationale -- "we'll figure something out" -- doesn't wash when it comes to where are we going to put the Gitmo detainees in a year's time. Don't file the Gitmo matter under "decisiveness" any time soon.
The mediocre Mikes -- Daly & Lupica of the New York Daily News probably spent most of yesterday wiping the eggs off their faces. Both fawned over Caroline "You Know" Kennedy in her run up to what was supposed to be an inevitable selection by Governor Paterson. However, taxes, a nanny "issue", and a supposed extra marital affair ruined her chances. It may be best for Ms. Kennedy to return to a more private life.
It was interesting to see David Brooks on PBS last night and realize that he's in the employ of a Mexican businessman. I'm sure that some of the $250 million will be paying salaries for those working for The New York Times. We'll see soon what kind of coverage a quarter of a billion dollars can buy.
You know when we'll hit the rock bottom of this recession? When the gossip tabloids and magazines start laying off personnel.
Future mea culpas (or "what was I thinking?"):
- Overdoing the inauguration of President Obama. It was embarrassing. (Big Media)
- Betting on the Steelers in the Super Bowl. (Bettors)
- Thinking that government spending will revitalize the economy. (Democrats)
- Approving Eric Holder as Attorney General (Republicans)
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