03-11-2009, 04:45 PM
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#1082
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Such a pretty girl!
Join Date: Jan 2004
Location: Calgary
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Quote:
Originally Posted by macker
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http://forum.calgarypuck.com/showthread.php?t=71090
Not sure why that's in the Flames forum though.
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03-11-2009, 04:48 PM
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#1083
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First Line Centre
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Quote:
Originally Posted by Slava
Irrefutable evidence that the TSX is breaking out of its slump (  ):
http://www.globeinvestor.com/servlet...n0311/GIStory/
Jeff Rubin predicted a 16,200 point close for 2009 when the market was at about 15k. He predicted $200 oil when we were at about $135 and rising. Almost right away the market reversed and shattered those predictions!
Today he says we are due for 7000 before a year end of 9000 if we're lucky. So naturally you have to do the opposite of what he says! |
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He comes across as very credible and is quite convincing in his inaccurate predictions. He needs to chill a bit on his extreme predictions as he is all over the place....Oh well, he was wrong before and he will be wrong again as noted....
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03-12-2009, 11:29 AM
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#1087
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Had an idea!
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Oh, here we go.
Quote:
ZUG, Switzerland, March 12 (Reuters) - The tidy towns and mountain vistas of Switzerland are an unlikely setting for an oil boom.
Yet a wave of energy companies has in the last few months announced plans to move to Switzerland -- mainly for its appeal as a low-tax corporate domicile that looks relatively likely to stay out of reach of Barack Obama's tax-seeking administration.
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http://www.reuters.com/article/rbssE...rgyNews&rpc=22
That should help 'repair' the economy.
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03-12-2009, 11:34 AM
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#1088
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Had an idea!
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So Ford is telling the Canadian government to giver consumers a $3500 dollar debate if they buy a new car.
Up from the $300 rebate they get now. Good idea? Better than just giving billions to a company that is going under, thats for sure.
http://www2.canada.com/calgaryherald...tml?id=1375061
Quote:
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Mondragon said increasing the so-called scrappage fee -- a measure that would cost federal taxpayers $350 million -- could boost new car sales in Canada by about 100,000 units.
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03-12-2009, 11:40 AM
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#1089
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Franchise Player
Join Date: Feb 2006
Location: Calgary AB
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Quote:
Originally Posted by Azure
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Lesson one in the dictionary of socialism: Money in the global economy is liquid. It seeks out the places that offer the best possible return for the least amount of hassel. If it finds your laws or tax system too onerous or simply just relatively less competative with another jurisdiction, it will leave and render your proposed tax hike counter-productive. Synonym: 'Law of unintended consequences', also see: Mike Harcourt, Bob Rae, Glen Clark, Lorne Calvert, Ed Stelmach, Hugo Chavez, Pierre Trudeau, Dalton McGuinty, . . .
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03-12-2009, 11:50 AM
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#1090
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Franchise Player
Join Date: Aug 2002
Location: Calgary, AB
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Quote:
Originally Posted by Cowboy89
Lesson one in the dictionary of socialism: Money in the global economy is liquid. It seeks out the places that offer the best possible return for the least amount of hassel. If it finds your laws or tax system too onerous or simply just relatively less competative with another jurisdiction, it will leave and render your proposed tax hike counter-productive. Synonym: 'Law of unintended consequences', also see: Mike Harcourt, Bob Rae, Glen Clark, Lorne Calvert, Ed Stelmach, Hugo Chavez, Pierre Trudeau, Dalton McGuinty, . . .
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You'd think its a very simple concept, but you can tell with the names in that group, there's a measure of arrogance too. Its the mentality that people will invest in their jurisdiction because they are special/superior/entitled to it. The global economy doesn't see it that way. Telling everyone that you're competitive is not the same as actually being competitive.
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03-12-2009, 11:56 AM
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#1091
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Franchise Player
Join Date: Feb 2006
Location: Calgary AB
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Quote:
Originally Posted by Thunderball
You'd think its a very simple concept, but you can tell with the names in that group, there's a measure of arrogance too. Its the mentality that people will invest in their jurisdiction because they are special/superior/entitled to it. The global economy doesn't see it that way. Telling everyone that you're competitive is not the same as actually being competitive.
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I think I know where that jab is directed. In that case it was a problem with looking at percentage charged by the government whereas a better means of comparing oneselves with another jurisdication is actual economic return for industry per dollar invested. That part got missed and you can tell which places are uncompetitive based on where global companies are making a larger portion of their cutbacks.
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03-12-2009, 12:16 PM
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#1092
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Lifetime Suspension
Join Date: Mar 2002
Location: Sydney, NSfW
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Quote:
Originally Posted by Azure
So Ford is telling the Canadian government to giver consumers a $3500 dollar debate if they buy a new car.
Up from the $300 rebate they get now. Good idea? Better than just giving billions to a company that is going under, thats for sure.
http://www2.canada.com/calgaryherald...tml?id=1375061
Mondragon said increasing the so-called scrappage fee -- a measure that would cost federal taxpayers $350 million -- could boost new car sales in Canada by about 100,000 units. |
Next, the government should give people a destruction rebate if they blow up their old house and build a new one. That should help the construction industry.
Next, the government should give people another blank cheque if they throw their old TV out and buy a new one. That should help the electronics industry.
Next, ...
Destruction of wealth will lead us to economic recovery. The future is bright.
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03-12-2009, 12:26 PM
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#1093
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Franchise Player
Join Date: Aug 2002
Location: Calgary, AB
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Quote:
Originally Posted by Cowboy89
I think I know where that jab is directed. In that case it was a problem with looking at percentage charged by the government whereas a better means of comparing oneselves with another jurisdication is actual economic return for industry per dollar invested. That part got missed and you can tell which places are uncompetitive based on where global companies are making a larger portion of their cutbacks.
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Its especially apropos for that certain farmer, yes, but its really with all of them to an extent.
Its a mentality of being too good to have to be competitive, and that they have the inherent right to profiteer, and the evil "fatcat" corporations have the inherent right to accept it.
I think Ontario is learning a very harsh lesson on what happens when you live in a false economy and squeeze the golden goose too hard due to that very mentality.
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03-12-2009, 12:59 PM
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#1094
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Lifetime Suspension
Join Date: Sep 2008
Location: In the Sin Bin
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Quote:
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I think Ontario is learning a very harsh lesson on what happens when you live in a false economy and squeeze the golden goose too hard due to that very mentality.
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Uhh, okay? Care to explain this one?
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03-12-2009, 01:46 PM
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#1095
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Franchise Player
Join Date: Aug 2002
Location: Calgary, AB
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Quote:
Originally Posted by Ronald Pagan
Uhh, okay? Care to explain this one?
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Sure.
In the past, they took advantage of the devalued Canadian dollar to get overcompensated based on the market. Provincial policies have relied on this. The US parents didn't tend to care they were overpaying when the exchange rate more than covered for it and kept the illusion of being competitive, hence, a false economy. When the dollar rose, it became apparent that Canada was not as great a bargain as they thought, especially when the open market, non-union compensation is significantly less. Now the unions are playing hardball and refusing to get competitive, save for small concessions. This has likely meant more lost jobs, and has even prompted companies like Chrysler to threaten an outright pull-out.
Its not a direct assault at the golden goose like Special Ed's "Fair Share", but an entitlement mentality exascerbating a painful situation.
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03-18-2009, 10:20 AM
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#1096
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Franchise Player
Join Date: Jul 2005
Location: in your blind spot.
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A couple interesting articles in the current issue of Wired.
The first talks about the equation traders were using to try evaluate risk:
Quote:
His method was adopted by everybody from bond investors and Wall Street banks to ratings agencies and regulators. And it became so deeply entrenched—and was making people so much money—that warnings about its limitations were largely ignored.
Then the model fell apart. Cracks started appearing early on, when financial markets began behaving in ways that users of Li's formula hadn't expected. The cracks became full-fledged canyons in 2008—when ruptures in the financial system's foundation swallowed up trillions of dollars and put the survival of the global banking system in serious peril.
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http://www.wired.com/techbiz/it/magazine/17-03/wp_quant
Another talks about transarency in the financial industry:
Quote:
The SEC's public document database, Edgar, now catalogs 200 gigabytes of filings each year—roughly 15 million pages of text—up from 35 gigabytes a decade ago.
But the volume of data obscures more than it reveals; financial reporting has become so transparent as to be invisible. Answering what should be simple questions—how secure is my cash account? How much of my bank's capital is tied up in risky debt obligations?—often seems to require a legal degree, as well as countless hours to dig through thousands of pages of documents. Undoubtedly, the warning signs of our current crisis—and the next one!—lie somewhere in all those filings, but good luck finding them.
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http://www.wired.com/techbiz/it/maga...7-03/wp_reboot
I went to an XBRL convention 6 or 7 years ago. Interesting stuff that was in its infancy then.
__________________
"The problem with any ideology is that it gives the answer before you look at the evidence."
—Bill Clinton
"The greatest obstacle to discovery is not ignorance--it is the illusion of knowledge."
—Daniel J. Boorstin, historian, former Librarian of Congress
"But the Senator, while insisting he was not intoxicated, could not explain his nudity"
—WKRP in Cincinatti
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03-18-2009, 06:39 PM
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#1098
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Chick Magnet
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Some good stuff going on. We can argue the benefits, problems, wrong doings forever, but at least they're trying.
For me, we're seeing strong demand for money at my office, our spreads are coming down (still high, but lower bond yields are offsetting high spreads).
Also posted something about GM sales in China, 800 million farmers wanting vehicles, lol.. Bet they could still have that demand and f-up
Fed to Buy $300 Billion of Longer-Term Treasuries
http://www.bloomberg.com/apps/news?p...N64&refer=home
Quote:
March 18 (Bloomberg) -- The Federal Reserve opened a new front in its battle to bring down borrowing costs across the economy, pledging to buy as much as $300 billion of Treasuries and stepping up purchases of mortgage bonds.
The announcement following the Federal Open Market Committee meeting today in Washington spurred the biggest rally in longer-dated Treasuries in decades. Officials unanimously voted to expand the Fed’s balance sheet up to $1.15 trillion, and said they may broaden a program aimed at boosting consumer loans to include other assets, today’s statement showed.
With today’s move, the Fed has committed to buy or loan against everything from corporate debt, mortgages and consumer loans to government debt, after cutting its benchmark interest rate to zero failed to end the credit crunch.
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U.S. Stocks Gain, 10-Year Treasury Yields Fall Most Since 1962
http://www.bloomberg.com/apps/news?p...4as&refer=home
Quote:
March 18 (Bloomberg) -- U.S. stocks and Treasuries surged and the dollar tumbled after the Federal Reserve unexpectedly announced plans to buy $1 trillion of bonds in an effort to lower consumer borrowing costs and end the recession.
The Standard & Poor’s 500 Index added 2.1 percent, extending its rally since last week’s 12-year low to 17 percent. Yields on 10-year notes dropped the most since at least January 1962 after the central bank said it will spend $300 billion buying Treasury debt and up to another $750 billion on bonds backed by government-controlled mortgage companies. The dollar sank the most against the euro since September 2000.
“This is a huge step,” said Thomas Girard, who helps manage $115 billion in fixed-income securities with New York Life Investment Management in New York. “It’s a draw the line in the sand-type of event.”
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China’s Rural Subsidies Spur GM’s Sales More Than U.S. Bailout
http://www.bloomberg.com/apps/news?p...zDk&refer=home
March 19 (Bloomberg) -- General Motors Corp. can thank U.S. taxpayers for $13.4 billion in loans that have kept it running. The carmaker can also thank China’s government, which is kicking in subsidies of as much as $1,170 to help it sell vans.
The automaker’s China minivan venture boosted sales 32 percent in the first two months after a cut in retail taxes on small vehicles. The government is now giving out 5 billion yuan ($731 million) in subsidies to spur auto sales in rural areas.
GM doubled its 2009 forecast for China’s market growth as the tax cuts and subsidies revived demand, helping the country pass the U.S. as the world’s largest auto market so far this year. By contrast, the Detroit-based carmaker’s domestic sales have plunged 51 percent, forcing it to seek as much as $16.6 billion more in government aid.
“Every farmer in China wants a new vehicle, all 800 million of them,” said Yale Zhang, a consultant at CSM Asia in Shanghai. “It looks like the government wants to make that happen.”
Last edited by Wookie; 03-18-2009 at 06:41 PM.
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