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HomeWeekend Reading: The Property Illusion
Posted by Larry Doyle on April 13th, 2013 6:23 AM |
I have no doubt that given the need for sources of revenue by Uncle Sam and other sovereign governments, the topic of “the protection of property rights” will be increasingly brought front and center in the public arena.
We saw this play out in Cyprus just a few weeks back, and we witness another example of this topic just the other day in a WSJ article, Now He’s After Your 401(K).
What some ideologues might view as “equitable redistribution,” other individuals who have worked long and hard for property would view as expropriation without proper compensation.
Do you think that this topic might be reason, if not partial motivation, for the steady stream of firearm sales? (more…)
Rackets + Inmates Run Asylum = Banana Republic Recommended
Posted by Larry Doyle on April 12th, 2013 8:06 AM |
Not that we needed any further evidence that the inmates on Wall Street are running the asylum in Washington or that our nation is seriously eroding from within, but recent testimony regarding the settlement of the mortgage foreclosure debacle provides it.
You recall the shenanigans within this foreclosure fiasco where the banks often employed individuals for $10/hour to robo-sign documents and illegally foreclose on people’s homes, don’t you? I defined this specific practice and much of what it encompassed as part and parcel of an enterprise that could only be described as racketeering. Well, there’s more. (more…)
The Fed Leak: Who is Brian J. Gross?
Posted by Larry Doyle on April 11th, 2013 8:16 AM |
If so, I might caution you from opening e-mail solicitations you receive from individuals in Nigeria informing you that you are the beneficiary of millions of dollars from recently deposed warlords in that nation or other sub-Saharan locales.
I mean, come on. Major financial institutions including Goldman Sachs, JP Morgan Chase, Wells Fargo, The Carlyle Group and more are informed a full day in advance of what the Fed governors are thinking, and the American public is supposed to buy that as an accident? (more…)
Gundlach: “Investment Success Is About Timeliness”
Posted by Larry Doyle on April 10th, 2013 8:21 AM |
What is the finest mind in the market thinking now?
If I had a nickel for the number of people on Wall Street whom I have heard say that they had all the right trades but not necessarily at the right time, then I would have a lot of nickels.
Very simply, trading and investing are not simply about being in the right place in the market. Successful trading and investing are about being in the right places at the right times. Who gets this? Doubleline’s Jeff Gundlach who recently shared his visionary “must read” insights. (more…)
Hank Paulson: The Wolf in Sheep’s Clothing
Posted by Larry Doyle on April 9th, 2013 10:07 AM |
Have you ever encountered an individual who seems to be so ingratiating that you are immediately attracted to him and desire to learn more of what he has to offer?
I would imagine that many who frequent this blog have been in meetings or other situations where a strong willed, dynamic leader lays out a host of propositions that would have everybody in attendance salivating for more; however, once having set the table so to speak, the leader quickly and surreptitiously delivers a powerful message incorporating proposed enormous changes so as to leave all in attendance wondering “what just happened here.” This scenario is often compared to the children’s fable The Wolf in Sheep’s Clothing.
As I continue to navigate back through the annals of Wall Street while working on my book (In Bed with Wall Street to be released in early 2014 by Palgrave/MacMillan…sorry for the shameless plug) I recently came across testimony from then Goldman Sachs CEO Hank Paulson that struck me as a quintessential example of this aforementioned simple story of deceit. (more…)
Sense on Cents Will Return
Posted by Larry Doyle on April 2nd, 2013 7:32 AM |
Due to a mix of various appointments and obligations, your resident writer will return next week.
For those who care to utilize this break to navigate the various links here at Sense on Cents, I hope you find them to be informative and reason to visit the site for more than just the regular commentary.
Have a great week and as always . . .
Navigate accordingly.
LD
An Irish Easter Blessing 2013
Posted by Larry Doyle on March 30th, 2013 5:06 AM |
This is the day that the Lord hath made, let us rejoice and be glad.
I beg your indulgence today and rest assured I will soon return to my regular navigating of our economic landscape but yesterday, today, tomorrow — and indeed everyday — is a gift. As we celebrate the great gift of life and hope provided us by our Maker whom I believe gave His life so we might be saved, let us pause and offer a prayer of gratitude. To that end, I welcome sharing Saint Patrick’s Prayer:
May the strength of God pilot us.
May the power of God preserve us.
May the wisdom of God instruct us.
May the hand of God protect us.
May the way of God direct us.
May the shield of God defend us.
Whether you visit my blog regularly, periodically, or just this once — and regardless of your faith calling — I wish you the faith-filled blessings of peace, hope, and love.
Today I have the great good fortune of being with close to four dozen of my family as we celebrate my folks’ 60th anniversary and upcoming birthdays. How does one properly say “Thank you” and “I love you” to the two people who have given me and my seven siblings (six brothers) the greatest gift of all, their love and inspiration. Well, Mom and Dad, today is your day!! I know I speak for all of us in stating, “We love you and thank you.”
Indeed, may the road rise to meet you. May the wind be always at your back. May the sun shine warm upon your face. The rains fall soft upon your fields. May God hold you in the palm of His hand.
LD
Madoff Offers to Names Names
Posted by Larry Doyle on March 29th, 2013 5:50 AM |
Has Uncle Sam closed the books on the Madoff investigation?
One would have to think so because there have been so few meaningful developments to emanate from the government’s ‘supposed’ pursuit of truth and justice in this case as to lead one to believe that the case is now closed.
Aside from a few ‘ne’er do well nitwits’ involved in Madoff’s operation, few if any meaningful names outside of the Madoff lair have been implicated in this massive scam.
Time may erode the public outrage over our government’s massive failure to protect and perform in this case but does that mean that justice neglected should remain justice denied? (more…)
Fallout From Cyprus: Increasing Unease
Posted by Larry Doyle on March 28th, 2013 8:44 AM |
The island nation of Cyprus today implemented a set of capital controls within its banking system so as to forestall a “run on its banks.”
Having had a number of conversations with individuals since the onset of this meltdown in Cyprus, the consistent theme among people with whom I have spoken is one of increasing unease.
Cyprus may be a small island nation with a level of economic activity that barely registers on the scale of international trade and overall output. That said, when funds can be expropriated in the manner in which these large depositors in Cyprus are experiencing, there is a ripple effect as people think, “how would I feel if that happened to me?” (more…)
Stories Deserving More Attention: Did You See This?
Posted by Larry Doyle on April 8th, 2013 8:21 AM |
I will reference these stories now and will certainly come back to many, if not all, of them in the near future. The items include:
1. In what might only be compared to trying to turn around the Titanic on one of your local streets, the Bank of Japan is launching a “quantitative easing on steroids” program. The goal of “all this juice” is to generate a 2% rate of inflation in the next two years from what has been a two-decade deflationary cycle. (more…)
Tags: bank of Japan program to promote inflation, Bank of Japan quantitative easing, Bill Cohan commentary on bank regulators, black swan, decline in the labor participation rate, deflation in Japan, disability claims, Japanese economy in deflation, Japanese equity markets, Joe Sciddurlo FINRA whistleblower, Joe Sciddurlo lawsuit against FINRA, Joe Sciddurlo questions authority at FINRA, lawsuit against FINRA, Nassim Taleb comment on Mary Schapiro, permanent underclass in America, quantitative easing on steroids, rural poverty, support for asset markets, urban graduation, yen carry trade
Posted in Banking Institutions, Economy, Education, Employment, FINRA, General, Mary Schapiro | 6 Comments »