October 9, 2008

On the Markets, I’m Not Buying What ‘Everyone’ Is Sellling

Filed under: Economy,Taxes & Government — Tom @ 8:05 pm

As I asked a couple of days ago: How do they “know”? Answer: They don’, and I doubt the reason is what they say it is..

I think it’s this simple: As it becomes ever more clear that government is going to take more and more ownership and “stakeholder” positions in formerly independent bank, insurance and other companies, the markets know that profits at those companies will not be their paramount goal. The government will try to impose every regulation and distraction imaginable on their targets (and perhaps their customers too). Future profit prospects at such companies are, of course, in the tank. Therefore, so are discounted future cash flows. Therefore, so are share prices.

Ask yourself this: If the press and the sky-is-falling crowd are right about the whole problem being access to credit and a crashing world economy, why has tech, which is usually MORE sensitive to the business cycle than other industries, collectively fallen a lot less than the markets as a whole? Answer: Because the government hasn’t set about taking over and ruining tech — yet.

Latest Pajamas Media Column (‘Obamazebo Reveals the Candidate’s Flawed Judgment’) Is Up; Follow-ups, Including Rezko

Filed under: Business Moves,Taxes & Government — Tom @ 6:36 am

obamazeboIt’s here.

It will go up at BizzyBlog on Saturday morning (link won’t work until then) when the blackout expires.

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UPDATE: A NewsBusters commenter has informed me of another interesting item relevant to the Obamazebo.

It is more than a little likely that Kenny B. Smith Jr. isn’t just some guy who just came in out of the blue.

I have been told that Mr. Smith happens to a son of the late Reverend Kenneth B. Smith. Rev. Smith, who passed away in January, was the founder of the Trinity United Church of Christ on Chicago’s South Side.  That would be the very same church that was led for 36 years by Barack Obama’s acknowledged “mentor and sounding board” (and America basher) since the late 1980s — the one, the only, now “Pastor Emeritus,” Jeremiah Wright.

Thus, it may be that the $100,000 grant that went to and was squandered by Smith was just another example of good old-fashioned Chicago-style cronyism. If so, that does nothing to remedy the candidate’s problem with flawed judgment. You could argue that it’s even worse, because he can’t even get his buds to do what they’re supposed to do with the favors showered down upon them.

UPDATE 2: Tony Rezko, a recently convicted Obama crony (actually, more like Obama’s political godfather), would be another such example writ much larger (direct YouTube link):

Instead of 100 thou with the Obamazebo, Rezko went through $100 million of government money. More here.

UPDATE 3: A bit of a sidebar — They probably shouldn’t, but some things never cease to amaze me. In this case, how can someone like Taylor Marsh, who supported Hillary Clinton during the Democratic primaries, flush work such as what I just linked to down the memory hole, become a shameless Obama shill, and still pretend to have a shred of self-respect?

Positivity: Mum praises life-saving daughter

Filed under: Positivity — Tom @ 5:38 am

From Irlam Manchester, Salford, UK:

Oct. 2, 2008

A PROUD mum has told how her five-year-old daughter saved her life after she collapsed.

Lisa Cotton’s daughter Chloe, known as Coco, ran for help after seeing her mother on the floor of the living room in their house in Carr Road, Irlam on Sunday, September 21.

Lisa, 28, suffers from chronic endometriosis, a condition where the cells of the womb become corrupted, and has had the condition since the birth of her son, Leo, two years ago.

The mum-of-two collapsed on the floor when she was getting her children ready to go out, and brave Coco ran next door to her neighbour’s house to ask for help.

The neighbour then called an ambulance and, when the paramedics came, Coco was able to tell them about her mother’s medical history.

Lisa said: “I have suffered with severe abdominal pain since I had my son two years ago.

“Previously it had been undiagnosed and the doctors couldn’t work out what was wrong with me. But Coco knew that I wasn’t well and she knew that it was in my tummy so she was able to tell the doctors.

“I was feeling a bit poorly and I asked Coco to go and get her brother’s shoes, as we were going out. She went to get them but when she came back, I had collapsed on the floor.

“She ran to get help from my neighbour’s and then, when the ambulance arrived, she was able to tell them that mummy was poorly.”

Lisa, whose partner Mark was working in Hong Kong at the time, was then taken to hospital, where she received a positive diagnosis and is now being treated for the condition.

She said: “I want to shout it from the rooftops how brave she has been. She really did save my life.”

It is not the first time the Fiddler’s Lane Primary School pupil has done a good deed.
Coco also saved her brother when Lisa lost control of his pram after collapsing in Huddersfield, where she used to live.

Go here for the rest of the story.