good to carry on discussions on finance.....so called progressives haven`t a clue about finance and economics, rendering their policy (reformist) ideas irrelevant...imagine for example a green party supporting international capitalist finance with interest rates and leveraging rendering their ideas of steady growth totally moronic!
As for the stock market...we are now into the last moments of a historic stock market, corporate debt and real estate price bubble....
if you still invest in this you are nuts!
The system is unwinding....the emerging markets are collapsing, and now with the Chinese finance bubble breaking, we are witnissing the weakning of the yuan and the collapse of the 500 billion yuan carry trade
Treasury secretary: Pass a tax bill or markets will tank
In the first episode of the POLITICO Money podcast, Steven Mnuchin offered an 'absolute guarantee' that a tax overhaul would be signed into law by the end of the year.
Government, credit card, and mortgage debt continue to climb. The financial industry makes about half of the profits in the Canadian economy. The financial industry makes up the lion's share of market capitalization on the TSX. Record bank profits are going to result in record prices for bank shares.
Canadian house holds, all levels of government, and business and financial business borrowed 1.3 trillion is over 3 years.
Consider in 1990 total debt level stood at 1.394 trillion, so 27 years canada borrowed around 6.1 trillion. But it took since the dawn of measurement of debt we borrowed 1.4 trillon and 6.1 trillion next 27 years. And I now beating government is rather a small fraction of the total.
Fed debt 731 billion
All other levels of Government 920 billion
so government debt represents 22% of debt outstanding. No need for hysteria.
Household debt 2017 2rd quarter total debt 2.077 --- 28 % of total debt
Lets travel back to 1990 how did the household was doing?
Around 350 billion was 25% of debt outstanding
All levels of goverment in 1990 456 billion was 33% of total outstanding debt.
All this debt is the base of the banking sector success in canada. Debt lending is definitely a gowrth industry at this historic moment.
I wasn't saying whether all this debt was a good thing or a bad thing, however with the loss of jobs in the extraction and manufacturing sectors it explains why the stock market in Canada is still going up.
Last time I looked, corporate profit was about 14% of Canadian GDP, and financial services took half of that.
As I mentioned elsewhere, it is now hard to say Canada is a resources- or manufacturing-based economy. It is a debt-based economy.
Its a debt based economy...and when the Central banks pull the plug, the financial bubble assets and their realestate will collapse...presently the banks again are restricting their bubble finance industry...will they manage to pull back before panic sets in?
Not sure again what the point of this thread is. If it is just noting stats from the stock market, I wonder why you don't have other equally mundane information like the exchange rate, balance of payments and other stuff that will make me regret opening a thread.
The Dollar General CEO just accidentally made clear how screwed up the economy is
“The economy is continuing to create more of our core customer.”
Here’s a grim picture of the state of the American economy: The CEO of Dollar General explained to the Wall Street Journal why things are looking up for his company.
Dollar General, with about 14,000 stores across the country and a $22 billion market value, targets customers making $40,000 a year or less. They are expanding, CEO Todd Vasos told the Journal.
Why?
“The economy is continuing to create more of our core customer,” Vasos said.
This is how he described the typical Dollar General customer: “Doesn’t look at her pantry or her refrigerator and say, ‘You know, I’m going to be out of ketchup in the next few days. I’m going to order a few bottles. The core customer uses the last bit of ketchup at the table the night prior, and either on her way to work or on her way home picks up one bottle.”
So Dollar General's is another company whose stocks are soaring but is that necessarily good for most Americans?
‘You know, I’m going to be out of ketchup in the next few days. I’m going to order a few bottles. The core customer uses the last bit of ketchup at the table the night prior, and either on her way to work or on her way home picks up one bottle.”
Who "orders" ketchup? Who buys up ten bottles when they're a dime off the regular price? Not rich people who do the math and save that dollar.
Hands up, babblers who typically buy their ketchup MORE than one bottle at a time. Personally, I might buy a big bottle if it's on deep discount, then wonder if I'll actually use it prior to its "best by" date.
‘You know, I’m going to be out of ketchup in the next few days. I’m going to order a few bottles. The core customer uses the last bit of ketchup at the table the night prior, and either on her way to work or on her way home picks up one bottle.”
Who "orders" ketchup? Who buys up ten bottles when they're a dime off the regular price? Not rich people who do the math and save that dollar.
Hands up, babblers who typically buy their ketchup MORE than one bottle at a time. Personally, I might buy a big bottle if it's on deep discount, then wonder if I'll actually use it prior to its "best by" date.
Good point. I do not shop at Costco because I think that is the most evil of retail stores. I have spoken to many left people who shop there and lecture my about all their boycotts.
Costco is from the start designed to create an elite shopping experience and to exclude poorer people any way they can.
When they started they were only for business owners and then public servants. They have a model of requiring paid membership in advance and creating oversize packages. Consider why they do that. The purpose is so that their customers do nto have to rub shoulders with a poor person -- ick! By requiring the membership they get to report the data of what is purchased to their suppliers. More to the point the membership means that people have to invest in a card before they can shop and invest in bigger packaging. This means the bulk buyers are also those who have more money than they need right now. It keeps the riff-raff out by deciding whose dollar is acceptable and then requiring that they maintain an advance investment in their purchases.
Oh, and by the way, Costco prices are more expensive on average -- the model of large packaging is to defeat easy comparison. I have made these comparisons when I have gone with friends as I do once a year or so just out of curiousity (I do not have a membership and do not buy). Typically you pay three times as much for twice as much and think you got a good deal. True they are less expensive than loblaws -- the most expensive grocery chain -- but they are significantly more expensive than food basics, Freshco, Giant Tiger and many others who do not require membership.
So if we are to take aswipe at Dollarama, which deserves a few for much of the garbage they sell, let's at least point out that they are not the evil elitists who seek to offer a shopping experience devoid of poor people.
This may be in part due to an understanding that the Chinese are devastating when they use consumer boycotts. The US has only one weapon in this and that is tarriffs that hurt at home as well. Chine has two: they can also use tarriffs but as well they can generate significant boycotts at the consumer level. This changes the balance significantly especially when you consider that in these conflicts the Chinese are more willing to pay the price of a trade conflict down to the consumer thant he US. Trump is making quite a blunder -- as usual.
While both the US and China are significantly nationalistic this nationalism is quite different. The US tends to go for symbols and assumptions about their exceptionalism. The Chinese are more sophisticated and practical as well as a bit vengeful at perceived humiliations. In some respects China's nationalism is of a type more common around the world that the US version. Even here in Canada Quebec nationalism is more like this than the US version.
The United States by acting like a bully could trigger a response in much of the world that they are incapable of understanding.
Part of this is that the US is considered the top dog, the imperialist of the 20th century. It knows no humility and no humiliation. It prides itself on being dominant. The responding nationalism does not appear quite the same way. I suspect as Chinese power grows China could adopt more of the attitudes that the US has but for now they are proud of their rising power, angry with any humiliation (after a couple centuries of humiliation). The Chinese have a different kind of materialism and expectation than the US and a different relationship with the state even if they oppose the Communist government. The US is literally clueless in provoking the Chinese since their reaction will not be just one of correction but of restoration of dignity. The US may well destroy their Made-In-USA brand for a generation.
Lets remember that over the last half century the world has discovered the one thing the US is great at making: enemies.
"Economist and Professor Richard Wolff analyzes the deficiencies of modern capitalism."
Hope this helps...
I don't know yet. It's hard going. I have started watching it 4 or 5 times but he is so long-winded. Marianne Williamson is great at trying to get him to get to the point. I'm 17 minutes into it now and so far he has said, capitalism delivered a lot of good stuff but it has to change and business decisions aren't taken democratically and he isn't against technology.
As I have noted before, I am definitely long-winded and certainly no better at getting to the point, but the left are terrible communicators in general. I will edit the comment once I get farther into the video because I do intend to watch it all.
22 minutes in, now we have covered stuff that is different in Europe like holidays and how people here like to go on picnics without paying user fees and how we developed free education but stopped when it came to higher education.
Finally said something meaningful at 23 minutes. We shouldn't make everything hostage to profit making because profits are earned by a very small number of people. Most people earn their money through wages and salaries. An economy that serves the majority must put wages and salaries before profits.
At 24 minutes she says: "What is the language exactly, how can we talk about this in a way, you know, people here capitalism then socialism over here, they go nuts. How can we have this conversation about the kind of transformation you mean...first of all is it really that capitalism ends here and socialism ends there or is there not a more subtle gradient...when you were talking about France and Germany wouldn't they consider themselves capitalism ventures? Wolfe then goes on to say but here's the difference and talks about socialist parties having won power. Bunch of stuff about Portugal and French families and not demonizing the other etc.
Wolfe: I think the way out is to use simple direct and clear language forget all the labels I mean if they push you sure but mostly talk about heres how we do it, heres how we could do it. .....but then he goes back off track for awhile.
28:24 Kings never disappeared. They moved inside of our capitalism enterprises and we call them CEOs (MW - we have a capitalist aristocracy) Wolfe goes on to an excellent supporting explanation but I haven't got the patience to transcribe it but I would like to right up to about 31:00.
At 34 minutes. In the 1940s while this country was at war the president sent a message to congress that he wanted the top income tax bracket to be 100% if you earn 25K dollars then which is about 400K now ...it's a maximum income.
That's a key message. I'm now at 34:28 but I need a break. I feel the same way MW does when she rests her chin on her hand only more so.
To all the naysayers out there who think investing in the stock market is not a good idea, look at this chart and think again.
The TSE Composite Index is close to the highest it has ever been, and has risen quite consistently over the years.
And anyways your pension depends on how well the stock market performs.
http://en.wikipedia.org/wiki/File:S%26P_TSX_Composite_Index.png
http://upload.wikimedia.org/wikipedia/commons/a/ad/S%26P_TSX_Composite_I...
But buyer beware!
Wolf of Wall Street dialogue may be fictional but boiler room fraud is real
Regulators trying to close string of suspected boiler rooms and FCA says victims of share fraud lose average of £20,000
http://www.theguardian.com/business/2014/feb/28/wolf-of-wall-street-fict...
Hidden camera investigation uncovers ‘atrocious’ investment advice
Hidden camera test examines financial advisers at top Canadian banks, firms
http://www.cbc.ca/news/business/hidden-camera-investigation-uncovers-atr...
30
good to carry on discussions on finance.....so called progressives haven`t a clue about finance and economics, rendering their policy (reformist) ideas irrelevant...imagine for example a green party supporting international capitalist finance with interest rates and leveraging rendering their ideas of steady growth totally moronic!
As for the stock market...we are now into the last moments of a historic stock market, corporate debt and real estate price bubble....
if you still invest in this you are nuts!
The system is unwinding....the emerging markets are collapsing, and now with the Chinese finance bubble breaking, we are witnissing the weakning of the yuan and the collapse of the 500 billion yuan carry trade
Now that's incentive!
Treasury secretary: Pass a tax bill or markets will tank
In the first episode of the POLITICO Money podcast, Steven Mnuchin offered an 'absolute guarantee' that a tax overhaul would be signed into law by the end of the year.
http://www.politico.com/story/2017/10/18/mnuchin-tax-bill-markets-tank-2...
Just saw David Burrows interviewed on BNN. Impressive!
https://www.barometercapital.ca/
http://www.politico.com/story/2017/10/19/senate-budget-tax-overhaul-vote-a-rama-243963
Tim Hortons doing very well it seems
https://www.gurufocus.com/news/581950/restaurant-brands-international-inc-to-report-third-quarter-2017-results-on-october-26-2017
Amazon, Microsoft, and Google: How Much Bigger Can They Get?
http://fortune.com/2017/10/27/amazon-microsoft-alphabet-google-intel-stock/
Me thinks the Canadian stock market has an eeyore complex.
TSX climbs to record high close of 15,953.51
Toronto Stock Exchange's benchmark index tops previous record set back in February
http://www.cbc.ca/news/business/tsx-dollar-markets-1.4375150
Government, credit card, and mortgage debt continue to climb. The financial industry makes about half of the profits in the Canadian economy. The financial industry makes up the lion's share of market capitalization on the TSX. Record bank profits are going to result in record prices for bank shares.
Statistics Canada. Table 378-0122
2014 3rd quarter total debt 6.194 trillion
2017 2rd quarter total debt 7.514 trillion
Canadian house holds, all levels of government, and business and financial business borrowed 1.3 trillion is over 3 years.
Consider in 1990 total debt level stood at 1.394 trillion, so 27 years canada borrowed around 6.1 trillion. But it took since the dawn of measurement of debt we borrowed 1.4 trillon and 6.1 trillion next 27 years. And I now beating government is rather a small fraction of the total.
Fed debt 731 billion
All other levels of Government 920 billion
so government debt represents 22% of debt outstanding. No need for hysteria.
Household debt 2017 2rd quarter total debt 2.077 --- 28 % of total debt
Lets travel back to 1990 how did the household was doing?
Around 350 billion was 25% of debt outstanding
All levels of goverment in 1990 456 billion was 33% of total outstanding debt.
All this debt is the base of the banking sector success in canada. Debt lending is definitely a gowrth industry at this historic moment.
I wasn't saying whether all this debt was a good thing or a bad thing, however with the loss of jobs in the extraction and manufacturing sectors it explains why the stock market in Canada is still going up.
Last time I looked, corporate profit was about 14% of Canadian GDP, and financial services took half of that.
As I mentioned elsewhere, it is now hard to say Canada is a resources- or manufacturing-based economy. It is a debt-based economy.
The U.S. Isn’t Prepared for the Next Recession
When it comes—and it will, eventually—it’ll be worse than necessary.
https://www.theatlantic.com/business/archive/2017/10/next-recession-prep...
This is truly amazin'. How can this be?
OPEC Is Already Thinking About $70 Oil
https://www.bloomberg.com/gadfly/articles/2017-11-05/opec-is-already-thi...
Its a debt based economy...and when the Central banks pull the plug, the financial bubble assets and their realestate will collapse...presently the banks again are restricting their bubble finance industry...will they manage to pull back before panic sets in?
How many hundreds or thousands of points has the stock market risen since your last forecast of doom and gloom?
https://www.bloomberg.com/news/articles/2017-11-13/top-tech-stocks-1-7-trillion-gain-eclipses-canada-s-economy
Phenomenal - how long can this last?
TSX up 72
NASDAQ up 71
DOW up 160
S & P up 16
The "shorts" must be scratching their heads this year.
But in stock market investing, when everyone is going in one direction, it is often best to go the opposite way.
TSX up 36
Out of 42 top economists, only 1 believes the GOP tax bills would help the economy
But all of them think it will increase the debt.
https://www.vox.com/policy-and-politics/2017/11/22/16691016/economists-g...
Oil up again today $0.68 now $58.70
TSX up 26
Dow up 53
NASDAQ up 15
S & P up 3
Follow these stocks
AAPL $175
AMZN $1,177
BABA $189
GOOG $1,040
MSFT $83
TECK.B $29.90
This stock was selling at $5 a share not too long ago. Now it has announced a supplemental dividend and is buying back shares. What gives?
https://www.bloomberg.com/news/articles/2017-11-26/norway-s-1-trillion-wealth-fund-steps-up-no-votes-on-ceo-pay
https://www.bloomberg.com/news/articles/2017-11-24/longest-s-p-500-rally-ever-it-s-wall-street-s-official-forecast
http://money.cnn.com/2017/12/01/media/abc-news-flynn-correction/index.html
Not sure again what the point of this thread is. If it is just noting stats from the stock market, I wonder why you don't have other equally mundane information like the exchange rate, balance of payments and other stuff that will make me regret opening a thread.
Maybe there should be a "dollar store market"?
https://www.vox.com/policy-and-politics/2017/12/4/16735340/dollar-genera...
So Dollar General's is another company whose stocks are soaring but is that necessarily good for most Americans?
I suppose if you think they should be deprived of ketchup!
Who "orders" ketchup? Who buys up ten bottles when they're a dime off the regular price? Not rich people who do the math and save that dollar.
Hands up, babblers who typically buy their ketchup MORE than one bottle at a time. Personally, I might buy a big bottle if it's on deep discount, then wonder if I'll actually use it prior to its "best by" date.
Good point. I do not shop at Costco because I think that is the most evil of retail stores. I have spoken to many left people who shop there and lecture my about all their boycotts.
Costco is from the start designed to create an elite shopping experience and to exclude poorer people any way they can.
When they started they were only for business owners and then public servants. They have a model of requiring paid membership in advance and creating oversize packages. Consider why they do that. The purpose is so that their customers do nto have to rub shoulders with a poor person -- ick! By requiring the membership they get to report the data of what is purchased to their suppliers. More to the point the membership means that people have to invest in a card before they can shop and invest in bigger packaging. This means the bulk buyers are also those who have more money than they need right now. It keeps the riff-raff out by deciding whose dollar is acceptable and then requiring that they maintain an advance investment in their purchases.
Oh, and by the way, Costco prices are more expensive on average -- the model of large packaging is to defeat easy comparison. I have made these comparisons when I have gone with friends as I do once a year or so just out of curiousity (I do not have a membership and do not buy). Typically you pay three times as much for twice as much and think you got a good deal. True they are less expensive than loblaws -- the most expensive grocery chain -- but they are significantly more expensive than food basics, Freshco, Giant Tiger and many others who do not require membership.
So if we are to take aswipe at Dollarama, which deserves a few for much of the garbage they sell, let's at least point out that they are not the evil elitists who seek to offer a shopping experience devoid of poor people.
Speaking of the stock market Trump sure has spooked it today with his Trade War talk.
https://www.theglobeandmail.com/investing/
This may be in part due to an understanding that the Chinese are devastating when they use consumer boycotts. The US has only one weapon in this and that is tarriffs that hurt at home as well. Chine has two: they can also use tarriffs but as well they can generate significant boycotts at the consumer level. This changes the balance significantly especially when you consider that in these conflicts the Chinese are more willing to pay the price of a trade conflict down to the consumer thant he US. Trump is making quite a blunder -- as usual.
While both the US and China are significantly nationalistic this nationalism is quite different. The US tends to go for symbols and assumptions about their exceptionalism. The Chinese are more sophisticated and practical as well as a bit vengeful at perceived humiliations. In some respects China's nationalism is of a type more common around the world that the US version. Even here in Canada Quebec nationalism is more like this than the US version.
The United States by acting like a bully could trigger a response in much of the world that they are incapable of understanding.
Part of this is that the US is considered the top dog, the imperialist of the 20th century. It knows no humility and no humiliation. It prides itself on being dominant. The responding nationalism does not appear quite the same way. I suspect as Chinese power grows China could adopt more of the attitudes that the US has but for now they are proud of their rising power, angry with any humiliation (after a couple centuries of humiliation). The Chinese have a different kind of materialism and expectation than the US and a different relationship with the state even if they oppose the Communist government. The US is literally clueless in provoking the Chinese since their reaction will not be just one of correction but of restoration of dignity. The US may well destroy their Made-In-USA brand for a generation.
Lets remember that over the last half century the world has discovered the one thing the US is great at making: enemies.
RBC Reins in Canadian Banking Costs as Profit Tops Estimates
https://www.bloomberg.com/news/articles/2018-08-22/rbc-reins-in-canadian...
Wall Street Isn’t Ruling Out a Trump Move to Weaken the Dollar
https://www.bloomberg.com/news/articles/2018-08-22/trump-a-currency-mani...
Trump today gave himself an A+ rating for his presidential performance, and said the stock market would crash if he were impeached.
So much for that stock market forecast from Trump, eh!
A good day for Apple shareholders as company's value tops US$2.5 trillion
The stock has risen 11.85 times since Tim Cook became CEO on August 24, 2011
by Charlie Smith on August 16th, 2021 at 1:23 PM
The corporate juggernaut known as Apple hit another high today.
The share price reached US$151.13, before closing a penny lower, leaving it with a market capitalization of US$2.5 trillion.
That's significantly larger than Canada's gross domestic product.
https://www.straight.com/finance/a-good-day-for-apple-shareholders-as-co...
Capitalism Run Amok
https://youtu.be/IiEmfXECD9k
"Economist and Professor Richard Wolff analyzes the deficiencies of modern capitalism."
Hope this helps...
I don't know yet. It's hard going. I have started watching it 4 or 5 times but he is so long-winded. Marianne Williamson is great at trying to get him to get to the point. I'm 17 minutes into it now and so far he has said, capitalism delivered a lot of good stuff but it has to change and business decisions aren't taken democratically and he isn't against technology.
As I have noted before, I am definitely long-winded and certainly no better at getting to the point, but the left are terrible communicators in general. I will edit the comment once I get farther into the video because I do intend to watch it all.
22 minutes in, now we have covered stuff that is different in Europe like holidays and how people here like to go on picnics without paying user fees and how we developed free education but stopped when it came to higher education.
Finally said something meaningful at 23 minutes. We shouldn't make everything hostage to profit making because profits are earned by a very small number of people. Most people earn their money through wages and salaries. An economy that serves the majority must put wages and salaries before profits.
At 24 minutes she says: "What is the language exactly, how can we talk about this in a way, you know, people here capitalism then socialism over here, they go nuts. How can we have this conversation about the kind of transformation you mean...first of all is it really that capitalism ends here and socialism ends there or is there not a more subtle gradient...when you were talking about France and Germany wouldn't they consider themselves capitalism ventures? Wolfe then goes on to say but here's the difference and talks about socialist parties having won power. Bunch of stuff about Portugal and French families and not demonizing the other etc.
Wolfe: I think the way out is to use simple direct and clear language forget all the labels I mean if they push you sure but mostly talk about heres how we do it, heres how we could do it. .....but then he goes back off track for awhile.
28:24 Kings never disappeared. They moved inside of our capitalism enterprises and we call them CEOs (MW - we have a capitalist aristocracy) Wolfe goes on to an excellent supporting explanation but I haven't got the patience to transcribe it but I would like to right up to about 31:00.
At 34 minutes. In the 1940s while this country was at war the president sent a message to congress that he wanted the top income tax bracket to be 100% if you earn 25K dollars then which is about 400K now ...it's a maximum income.
That's a key message. I'm now at 34:28 but I need a break. I feel the same way MW does when she rests her chin on her hand only more so.