Mark Cuban nails it

[diverdog]

Asking whether or not we're better off than 4 years ago is dumb, because we obviously are (http://blogmaverick.com/2012/09/05/are-better-off-today-than-we-were-4-years-ago-part-1/)...the real question that should be asked & answered is 'what SPECIFICALLY are you going to do next', and don't bullsh*t us.


Good blog

[Turd_Ferguson]

Good blogfrom another hypocrite, gazillionaire...

[diverdog]

from another hypocrite, gazillionaire...

How is he a hypocrite?

[SanJoaquinSooner]

Saw Cuban on Squawk Box last week. Downright professorial. Concerned about computer driven investing where algorithms are developed with the purpose of beating other algorithms ,,, leads to mini-crashes and overall excessive volatility.

[yermom]

computers bidding against other computers seems rather scary

[TitoMorelli]

computers bidding against other computers seems rather scary

Sorry if this has been posted before - a gif/animated graph showing activity in all markets from January 2007 through Jan. 2012--



http://www.nanex.net/aqck/2804.HTML

[Sooner5030]

did not read the link but I have always thought it was a dumb question. If four years have passed and your financial situation has not improved then you are either an outlier (got sued, retired, decided to take a lesser paying job, develop herpes or something) or you need to be darwin'd out of our society.

I'm more worried how the mob emotionally ties their well being to some president who has imaginary powers to pull a jobs lever.

[yermom]

or your 401k took a dump on itself?

how many people had to put off retirement?

[Sooner5030]

or your 401k took a dump on itself?

how many people had to put off retirement?

good point....I was mainly thinking of income alone.....but if you are near retirement and still have the majority of your nest egg in equity securities then I don't feel sorry for you. You took the risks.

[FaninAma]

computers bidding against other computers seems rather scary

Solution: invest in hard assets. if you have to invest in the stock market invest in companies that in some way produce something people can't do without even in an severe economic downturn.......easier said than done.

Stay away from financial companies/banks at all costs. JMO.

[yermom]

well, that's what no regulation gets you

[FaninAma]

well, that's what no regulation gets you

If Obama had reinstituted Glass-Stegal or went after the companies that sunk the economy with their derivative gambles or reinstitued the uptick rule or directed the Fed to bail out American banks before sending billions to foreign banks or shown any indication he was going to stop the revolving door between the Treasury Dept, the Federal Reserve , and the big banks on Wall Street in terms filling upper echelon personnel positions I would have considered voting for Obama in this election. But it turns out he just a hypocrite and demagogue on this issue.

JPM makes a lot of money administering the food stamp program. They like deficit spending.

JPM, Citibank, BOA and WF make a lot of money selling Treasury Bonds to the Federal Reserve. They like deficit government spending.

If you don't understand anything else about the
incestuous relationship between the Fed, the big banks and the Federal government please understand that the Fed's stimulus program(Qe1, Qe2, Operation Twist) allow the federal government to avoid seriously dealing with our deficit by keeping interest rates on government debt artificially low.

So the government continue its massive deficit spending with the Wall Street Banks acting like middle men for all of these government programs. Plus they take the 0.25%
interest funds form the Fed and invest them in Bonds yieding 2% or , if they are adventurous, commodities and the stock market for even bigger gains. It is a rigged game.

Also understand that Frank-Dodd is a farce and that Obama has taken no serious steps to regulate the predators on Wall Street.

[MamaMia]

did not read the link but I have always thought it was a dumb question. If four years have passed and your financial situation has not improved then you are either an outlier (got sued, retired, decided to take a lesser paying job, develop herpes or something) or you need to be darwin'd out of our society.

I'm more worried how the mob emotionally ties their well being to some president who has imaginary powers to pull a jobs lever. Its possible to not be faring as well now as you were 4 years ago for several justifiable reasons not of your own doing. You may have lost your job because of downsizing and forced to work one or two lesser jobs to compensate, or found it necessary to retrain yourself in another field or to get a more prestigious position in your current vocation.

You may be struggling due to expenses involved over dealing with a family members serious illness, or be there for a family member who has been injured, or you could be a small business owner in a town that got hit with some type of natural disaster and/or a large degree of unemployment. You could have a job with a company that cant afford to give out raises due to their overhead getting higher even though the price of living has gone up. You could offer a service that not a lot of people can afford any longer. You could have a career with a medical research firm that lost its funding for a percentage of your projects.

There are a lot of hard working people who have found themselves unexpectedly struggling due to certain unforeseen financial changes surrounding their particular circumstances.

[yermom]

If Obama had reinstituted Glass-Stegal or went after the companies that sunk the economy with their derivative gambles or reinstitued the uptick rule or directed the Fed to bail out American banks before sending billions to foreign banks or shown any indication he was going to stop the revolving door between the Treasury Dept, the Federal Reserve , and the big banks on Wall Street in terms filling upper echelon personnel positions I would have considered voting for Obama in this election. But it turns out he just a hypocrite and demagogue on this issue.

JPM makes a lot of money administering the food stamp program. They like deficit spending.

JPM, Citibank, BOA and WF make a lot of money selling Treasury Bonds to the Federal Reserve. They like deficit government spending.

If you don't understand anything else about the
incestuous relationship between the Fed, the big banks and the Federal government please understand that the Fed's stimulus program(Qe1, Qe2, Operation Twist) allow the federal government to avoid seriously dealing with our deficit by keeping interest rates on government debt artificially low.

So the government continue its massive deficit spending with the Wall Street Banks acting like middle men for all of these government programs. Plus they take the 0.25%
interest funds form the Fed and invest them in Bonds yieding 2% or , if they are adventurous, commodities and the stock market for even bigger gains. It is a rigged game.

Also understand that Frank-Dodd is a farce and that Obama has taken no serious steps to regulate the predators on Wall Street.

who brought up Obama? i'm just rejecting the idea that banks, corporations, Wall St., etc... act in a way that is good for anyone in the long term besides some investor or CEO that can cash out quickly

i haven't heard a peep from the GOP about reigning in any of that either

[badger]

Asking whether or not we're better off than 4 years ago is dumb, because we obviously are...
Maybe he is, with his Mavs championship trophy, getting to pay players less of a percentage of revenue than before the lockout and being a billionaire that doesn't have to worry whether he's employed or not.

Mark Cuban has always a spoiled frat boy aura about him.

[yermom]

well, if you look at the DJIA or unemployment, in general, we are too

[badger]

well, if you look at the DJIA or unemployment, in general, we are too

Dow Jones I'll give you. Unemployment? I think people have just stopped being counted even if they still don't have a job since they've been outta work so long. :(

[hawaii 5-0]

I took a big hit and I've recovered.

I've also made adjustments.

I'm better off now than I was 4 years ago. Not where I wish I was but I'm getting along.

5-0

[Turd_Ferguson]

I'm better off now than I was 4 years ago. Not where I wish I was but I'm getting along.

5-0
Who'd have thunk it?

[Ton Loc]

I'm better or as good as I was four years ago. Depends on how you look at it (I think great) - Got laid off, took two other jobs before the one I have now, got divorced, and then got my stuff together. All on my own. F the government and those computer driven investments (unless it's my 401k) - I'll do it myself. Boo Yah!

[LiveLaughLove]

They can run on that and will lose worse than they are going to anyway.

[FaninAma]

who brought up Obama? i'm just rejecting the idea that banks, corporations, Wall St., etc... act in a way that is good for anyone in the long term besides some investor or CEO that can cash out quickly

i haven't heard a peep from the GOP about reigning in any of that either

I did, obviously, because it is my impression that some who support him seem to believe he is somehow less in the back pocket of the Wall Street banks and investment complex. He isn't.

[FaninAma]

well, if you look at the DJIA or unemployment, in general, we are too


Fewer people on employment rolls than before 2008. Yeah, employment is in great shape.