Monday, November 02, 2009

Why Keep Geithner? | The Big Picture

Why Keep Geithner? | The Big Picture

A year ago it was revealed to the American people that our banking system was a legalized Ponzi scheme in which bank and insurance CEOs paid themselves billions of dollars in personal compensation to lend and insure assets with money they didn’t have to customers who couldn’t pay back the loans.

In those dark days between the fall of Lehman Brothers and before the presidential election, we were often carried through that time by the small glimmer of hope in that at least we would soon have a new leader who would hopefully fix this mess and punish those responsible.

Yet in the past 9 months, not only has the administration not fixed anything, they have made things much worse for anyone who isn’t a Wall Street banker. Therefore, we are past the point where anyone in power still gets the benefit of the doubt and the process of taking back our country for all citizens must begin now.

This is why I think we must ask if U.S. Treasury Secretary Timothy Geithner is still the right person for the job. It has become clear recently that back in his previous role as New York Federal Reserve Governor, he unnecessarily gave billions of dollars of US tax money to banks and insurance companies with few strings attached. And it is now becoming clear that his lack of meaningful action is helping many of these same banks steal more by legalizing their most economically dangerous, socially destructive and self-enriching practices.

Yesterday on NBC’s Meet the Press, Secretary Geithner again endorsed House bank reform legislation that would allow, by my calculations, as much as 80%, or $475 trillion, of the bank’s $600 trillion in crooked insurance schemes to still be held in secret. It was and is the secret risks held in this very market that led to our collapse in the first place and continue to pose massive future risk to the global economy.

From Licensed investigator Susan Daniels to judge Carter � Count Us Out

From Licensed investigator Susan Daniels to judge Carter � Count Us Out

Dear Judge Carter:

I am the private investigator who contacted Dr. Orly Taitz when I found that Barack Obama has been using a bogus social security number for years, which is a felony. I have been a licensed investigator for almost fifteen years and recognized it immediately as fraudulent.

If you had allowed Discovery and required the SSA to release his alleged application for that number (and I do not believe such an application exists), you would have realized it, too. Numbers are issued to a person in the state where they are living. Between 1977-79 when it was issued, he was living in Hawaii not Connecticut.

I now realize that you always intended to dismiss the case, because that’s what you were ordered to do. You have bartered your integrity for a lofty position and a hefty pension. Shame on you.

The men and and women in the military will continue to die under the direction of someone who is not entitled to hold the position of Commander in Chief and who is nothing more than a Chicago thug with questionable loyalties.

Semper Fi? I think not.

Sunday, November 01, 2009

Livermores Seven Trading Lessons | The Big Picture

Livermores Seven Trading Lessons | The Big Picture

Via Minyanville, we get this good version of Jesse Livermore’s trading rules, considered to be one of the best traders of all time:

Lesson Number One: Cut your losses quickly.

As soon as a trade is contemplated, a trader must know at what point in time he’ll be proven wrong and exit a position. If a trader doesn’t know his exit before he takes the entry, he might as well go to the racetrack or casino where at least the odds can be quantified.

Lesson Number Two: Confirm your judgment before going all in.

Livermore was famous for throwing out a small position and waiting for his thesis to be confirmed. Once the stock was traveling in the direction he desired, Livermore would pile on rapidly to maximize the returns.

There are several ways to buy more in a winning position — pyramiding up, buying in thirds at predetermined prices, being 100% in no more than 5% above the initial entry — but the take home is to buy in the direction of your winning trade – never when it goes against you.

Lesson Number Three: Watch leading stocks for the best action.

Livermore knew that trending issues were where the big money would be made, and to fight this reality was a loser’s game.

Lesson Number Four: Let profits ride until price action dictates otherwise.

“It never was my thinking that made the big money for me. It always was my sitting.”

One method that satisfies the desire for profit and subdues the fear of a losing trade is to take one half of your profit off at a predetermined level, put a stop at breakeven on the rest, and let it play out without micromanaging the position.

Lesson Number Five: Buy all-time new highs.

The psychological merits of buying all-time or 52-week highs are immense and shouldn’t be discounted as a part of your overall strategy.

Lesson Number Six: Use pivot points to determine trends.

When going long, traders are continually looking for confirmation by assessing the strength of a move. Higher highs and higher lows are a solid indicator that a current uptrend is merely taking a slight pause, and the odds of higher prices are in their favor. These same pivot points are integral to drawing support and resistance lines to give traders their line in the sand. Taken together, trend lines and pivot points can enlighten a trader to a change in momentum, which may change the character of a trade.

Lesson Number Seven: Control your emotions.

Our goal as traders should be to also make a critical yet honest assessment of the areas we can improve so the bottom line will support our claims of truly being seasoned traders. Adhering to the time-tested rules of Jesse Livermore would be a great start for anyone.

The full article is here.

Sense of Events

Sense of Events: "Sunday, November 1, 2009
Quote of the day

'Every morning in Africa, a gazelle wakes up. It knows it must outrun the fastest lion or it will be killed. Every morning in Africa, a lion wakes up. It knows it must run faster than the slowest gazelle, or it will starve.

'It doesn't matter whether you're a lion or a gazelle--when the sun comes up, you'd better be running.'

Roger Bannister, first person to run a mile in under four minutes

By Donald Sensing"

Saturday, October 31, 2009

Book Review - 'Ayn Rand and the World She Made,' by Anne C.�Heller - Review - NYTimes.com

Book Review - 'Ayn Rand and the World She Made,' by Anne C.�Heller - Review - NYTimes.com

Story of Ayn Rand more or less

24-stage frac job planned for Sanish Three Forks well - Oil & Gas Journal

24-stage frac job planned for Sanish Three Forks well - Oil & Gas Journal: "24-stage frac job planned for Sanish Three Forks well

Oct 28, 2009

Guntis Moritis
OGJ Production Editor

HOUSTON, Oct. 28 -- Whiting Petroleum Corp. plans to use 24-stages for hydraulically fracture its Ogden 11-3 TFH horizontal well, completed in the Three Forks reservoir in the Sanish field, Mountrail County, ND."

Charles Krauthammer : The Three Envelopes - Townhall.com

Charles Krauthammer : The Three Envelopes - Townhall.com

Friday, October 30, 2009

Gold vs Silver..Why The Debate? (by Market Sniper) - Slope Of Hope with Tim Knight

Gold vs Silver..Why The Debate? (by Market Sniper) - Slope Of Hope with Tim Knight

Ratios

At one point it was even at 100:1. I now use 45:1 and 70:1 as switch points. See your tax accountant as to the benefits of such a program. Think 1031 Tax Deferred Exchange. For those who do not want to break the rear axle of your automobile moving your silver when it comes time to switch, think about using ETF’s that solely reflect the price of the two metals. There are a variety of ways to accomplish this. From being in just one or the other to being long one and short the other.

IF your objective is to accumulate the actual physical metals, do not use ETF’s as a substitute for physical ownership. Rather, take profits from your switching trades and purchase the actual metals themselves. Gold vs. Silver? No debate, accumulate both.

Big Government � Blog Archive � Pelosi Health Care Bill Blows a Kiss to Trial Lawyers

Big Government � Blog Archive � Pelosi Health Care Bill Blows a Kiss to Trial Lawyers
check out this juicy morsel to the trial lawyers (page 1431-1433 of the bill):

Section 2531, entitled “Medical Liability Alternatives,” establishes an incentive program for states to adopt and implement alternatives to medical liability litigation. [But]…… a state is not eligible for the incentive payments if that state puts a law on the books that limits attorneys’ fees or imposes caps on damages.

Lame Cherry: The Thirdworldness of Obama

Lame Cherry: The Thirdworldness of Obama

Judge Carter is a very bright justice and yet in all of this he has appeared being tainted by Mr. Obama associations to be nothing but 3rd World.
For starters, Robert Bauer as this blog reported is married to Anita Dunn who works under David Axelrod as the pictures reveal quite intimately. Mr. Bauer is also Mr. Obama's attorney who works for the international law firm, Perkins Coie.

The problem there starts in Judge Carter just hired a law clerk named Sid Velamoor who worked for Perkins Coie. In such a national case as this, Judge Carter is not that inept to have done this career ruining maneuver in hiring someone from a law firm who has had received most of the 2 million dollars Mr. Obama has spent on the Birther case.

This blog noted that something odd appeared to be going on, a feeling with Judge Carter, that it looks as if this was happening in Kenya, that it looked like a Judge with a stinking fish and was auctioning off to a high bidder in sometimes a Hillary Clinton was making pillow talk, and at other times, it was Bearick Obama.
The end result is the appearance looks like the most powerful man in America forced Judge Carter to hire a clerk to write a decision throwing out Obama's case, and the clerk worked for Obama's personal attorney.

Lame Cherry

Lame Cherry

I have always noted someone like Noel Sheppard of Newsbusters when gas was 4 dollars a gallon. He has children he can afford. He has his business. He has money to pay for college etc... So when it costs another thousand dollars a year for gas, he just pays it.
Poor people have to make decisions in buying gas to go to work or to not eat meat, fruit for that week, which weakens their physical condition, they get sick over time, then can't work, and then lose what home they have, and end up in government housing never able to get on their feet again.

Thursday, October 29, 2009

YouTube - The Truth about Facebook!

YouTube - The Truth about Facebook!

Trends I'm Watching

Trends I'm Watching

Presently, Ben Bernanke and Tim Geithner have become the quintessential short-term decision makers. They explicitly "do whatever it takes" to "solve one problem at a time" and deal with the unintended consequences later. It is too soon for history to evaluate their work, because there hasn't been time for the unintended consequences of the "do whatever it takes" decision-making to materialize.

In the context of the recent economic crisis, a highly motivated and organized banking lobby has demonstrated enormous influence. Bankers advance ideas like, "without banks, we would have no economy." Of course, there was a public interest in protecting the guts of the system, but the ATMs could have continued working, even with forced debt-to-equity conversions that would not have required any public funds. Instead, our leaders responded by handing over hundreds of billions of taxpayer dollars to protect the speculative investments of bank shareholders and creditors. This has been particularly remarkable, considering that most agree that these same banks had an enormous role in creating this mess which has thrown millions out of their homes and jobs.

...Americans understand that the Washington-Wall Street relationship has rewarded the least deserving people and institutions at the expense of the prudent. They don't know the particulars or how to argue against the "without banks, we have no economy" demagogues. So, they fight healthcare reform, where they have enough personal experience to equip them to argue with Congressmen at town hall meetings. As I see it, the revolt over healthcare isn't really about healthcare, but represents a broader upset at Washington. The lack of trust over the inability to deal seriously with the party goers feeds the lack of trust over healthcare.

Tuesday, October 27, 2009

RealClearPolitics - Video - Frank: "We Are Trying On Every Front To Increase The Role Of Government"

RealClearPolitics - Video - Frank: "We Are Trying On Every Front To Increase The Role Of Government"

Mich. Democrat: Pelosi 'not happy with me' - The Hill's Blog Briefing Room

Mich. Democrat: Pelosi 'not happy with me' - The Hill's Blog Briefing Room: "Stupak wants a vote on the House floor to strike the language, and predicts he would have the votes to pass such an amendment.

'This has been federal law since 1976,' he said, noting that President Barack Obama has vowed not to allow healthcare reform to pay for abortions.

'We have to have a vote,' he said."

Monday, October 26, 2009

Ogre’s Politics and Views � Hate Crimes

Ogre’s Politics and Views � Hate Crimes: "Hate Crimes
Posted on October 23rd, 2009 by Ogre

There can be no freedom of speech where there are hate crimes law.

There is no freedom where thoughts can be punished."

Why I Believe in God | The Scriptorium Daily: Middlebrow

Why I Believe in God | The Scriptorium Daily: Middlebrow

So why do I know God exists?

Given the limits of a short essay, I will only be able to point in the direction of my favorite reasons, but there are many books that provide deeper justification and further explication of these reasons. On a popular level favorite books that were helpful to me include J.P. Moreland’s Scaling the Secular City and A.E. Taylor’s Does God Exist? Readers looking for something more difficult would do well to check out the work of Richard Swinburne of Oxford University.

Of course, I don’t believe in God at first because I sat and thought about Him. I believe in God, because I encountered Him. I prayed and had an experience of Him from a very early age. He has answered my prayers and forced me to change my behavior. This every day direct mental experience of His existence is fundamentally why I know God is real.

If I did not have it, I would have little motivation to wonder about Him, but I sought Him and I found Him . . . or better He found me! Of course, despite my apparent sanity (from my own biased point of view!), I might be mad or deceived. God might be an illusion in my head, despite the sense that there is a different mental texture to what His voice is saying.

Once challenged in his beliefs by reasonable questions, only a fool or a saint would be sure that he was not deluding himself. I know I am no saint and I hope not to be a fool, so I had to ask if my experiences were real and if I had correctly interpreted them.

It is important, therefore, that I have every day indirect experience of His existence. The community of believers around me matters. I am not alone in thinking God is real or speaks to people. This does not prove that God exist, but the billions of people over long periods of time who have believed in God does suggest that at the very least I am not the victim of some private delusion!

So I speak to God and He speaks to me and millions of living and otherwise rational human beings share this experience. It is what I would anticipate if God is out there. Why do some people fail to share that experience?

I don’t know, but absence of evidence in a few does not suggest the problem is in those who believe.

Third, there are philosophical arguments that suggest the existence of God is either necessary or reasonable. For example, the existence and nature of the cosmos suggests the existence of a rational God. The universe appears to have order and design and I am not persuaded that merely naturalistic processes can account for this order and design. Whatever the process God used to create, and only the arrogant believe they have this all worked out, the fundamental nature of that creation suggests a plan.

Fourth, morality persuades me that God exists. The long trajectory of human history demonstrates a common morality behind the blind spots of any particular culture. There is a common way that most people in most places and most times have followed. This law suggests a lawgiver.

Fifth, the existence of gratuitous beauty convinces me God exists. When I traveled above the clouds for the first time with my oldest son, he told me that it was beautiful and neither of us was surprised. Wherever we looked, we saw beauty and this was not a beauty that could have been hardwired into us by any natural process. Wherever we look as human even to the furthest reaches of the cosmos beauty is there waiting for us.

Sixth, the world of Ideas points in the direction of the existence of the Mind of God. As a Platonist, I am convinced that numbers and ideas are real. There is a metaphysical world that cannot be reduced to the material. This does not prove God exists, but makes His existence more plausible to me.

Finally, love suggests to me that God is real. As Plato points out in his masterful dialogue Symposium love is surely of something. Humanity possesses a love for the Good, the True, and the Beautiful that demands a proper object. Only God is great enough to be a sufficient end for all the longing in the human heart. It might be that the universe is perverse and has given us this great longing without any means of fulfilling it, but there is no good reason to take this withering view. The sensible, indeed the hopeful response, is to assume that like hunger or thirst this longing too can be find satisfaction in reality.

My friends who don’t believe in God might claim that I believe in God, partly, because I want to do so. This is true. The existence of a good God is such an awesome, exciting, and hopeful idea that I am rooting for it. There is nothing irrational with giving good news the benefit of the doubt, if you don’t sacrifice your mind to do so.

You ask me how I know He lives? He lives within my heart.