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Posts Tagged ‘Arnold Schwarzenegger’

Instead of Reviewing Sarah Palin’s E-Mail, The Media Should Investigate…

Posted by Larry Doyle on June 11th, 2011 7:12 AM |

I love America.

I love when our nation rises to the occasion to help each other during times of national crisis. I love when people who would prefer to remain anonymous perform real acts of heroism. I am truly grateful to be a citizen of this great land and to have the freedom to pursue fabulous opportunities and to speak my mind while doing so.

While I love our great land, I cringe when I witness those whom I believe are more concerned with pursuing self-promotion than real national interest. I put Donald Trump in this camp.

I cringe when I witness those in public office or the public arena whom I believe lack the decency and integrity to be upstanding model representatives for our children. I put Anthony Weiner, Arnold Schwarzenegger, and David Vitter amongst many more in this camp. (more…)

Ben Davies: Ex Scientia Pecuniae Libertas/Out of Knowledge of Money Comes Freedom

Posted by Larry Doyle on October 25th, 2010 8:47 AM |

I thoroughly appreciate those involved in the markets who also have an equal appreciation for history, languages, literature, and the arts and sciences. Rare is the individual who is able to intertwine their passions and fluent enough to share them with others.

I thank a loyal reader of Sense on Cents who brings us just such an individual, that being Ben Davies, CEO of London-based Hinde Capital. Davies spoke the other day to the Committee for Monetary Research and Education in New York. Although his remarks are extensive, I found them to be quite compelling and truly insightful. I commend Ben for his passion and well rounded perspectives. If you consider yourself a student of the markets, interested in our global economy, or merely a lover of topics well written, you will want to read and savor Ben’s thoughts. I am happy to share them here today.

Remarks by Ben Davies,
CEO, Hinde Capital, London
Fall Dinner Meeting
Committee for Monetary Research and Education
Union League Club, New York
Thursday, October 21, 2010 (more…)

Public Pension Ponzi Schemes

Posted by Larry Doyle on April 6th, 2010 10:50 AM |

Making promises that can’t be kept.

Garnering support via payback, if not kickbacks.

Effectively misrepresenting expected returns.

Am I talking about Bernie Madoff and every other con artist who has ever perpetrated a Ponzi scheme? No, although I could be. I am addressing the reality of the public pension system in our country. Those participating in public pensions can rail on me all they want. The simple fact is the power and leverage of the public unions combined with the willingness of public officials to sell their souls, while mortgaging our children’s futures, have created a massive gap in the funding of public pension liabilities in our nation today. (more…)

Should Uncle Sam Bailout California?

Posted by Larry Doyle on January 7th, 2010 8:07 AM |

Should 49 states bail out one? Should the American public be compelled to cover the fiscal disaster of our largest state? Will America ever face reality?

The ticking time bomb that is the fiscal disaster of the state of California is making its way to Washington. As reported in yesterday’s Wall Street Journal, the Governator Arnold Schwarzenegger Seeks U.S. Funds. If Uncle Sam bails out California, then who is next?

Not surprisingly, the general media is not giving this story even close to the attention it deserves. I wrote extensively on this ticking time bomb last spring and summer. Tick…tick…tick. The fuse is running short.

Let’s quickly review some general statistics about the state on our Left Coast (in more ways than one). As I highlighted last May in writing “As California’s Economy Goes, So Goes the Country,” California has:

– 8 of the 50 largest cities

– population of approximately 37 million people (that we know of), a full 12% of our national population

– an economy similar in size to Italy, ranking it as one of the top 10 in the world (I have seen rankings of 8th and 9th)

– California’s economic output represents 13% of our national GDP!!

– an unemployment rate north of 11% compared to the national average of 8.9%. With a high unemployment rate amongst illegal immigrants, it is not a stretch that California’s unemployment rate is approaching 15% and its underemployment rate is greater than 20%!! (LD’s edit, the current rate is 12.3%).

What is Schwarzenegger’s case? The WSJ reports: (more…)

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