The debt ceiling deal does NOT slash spending in the next year or two, while the economy is so fragile; PROTECTS the social safety net; and does NOT close the door on increased revenues from the rich (or Exxon). To my friends who are quick to assume the President has unaccountably become a different person (uncaring? slothful? dim-witted?) when we don’t get what we want on our timetable, I’d say I totally share the frustration – as I’m quite sure the President does. But I direct most of it at the opposition, whose first priority is to see him fail and whose second priority is to protect billionaires from paying anywhere close to the 28% rate on investment income they paid under Ronald Reagan (second greatest man who ever lived).
More on this in the coming days, I assume.
IF YOU DON’T LIKE TAXES
Peter Snow suggests Republicans read this list of things not to do. It’s a little simple-minded – but so is the argument that smaller government and lower taxes are always best.
Jeff Cash: “Thanks for the DVAX tip. I bought on July 26th and have enjoyed the 20% pop! But I’m confused by something, and suspect that other readers might be, as well. On July 26, you wrote: ‘Guru says he agrees with this report from William Blair that puts the fair market value at $8.’ . . . but then Friday: ‘Target for the stock over the next 6 to 12 months is 6 or higher.’ I’m baffled as to why guru went, in 3 days, from a current fair market value of $8 to a hope for $6+, when the only thing happening in the interim was GOOD news….???”
☞ Good question. Stock valuation is, in the first place, in no way an exact science. (And I guess I should point out that “6 or higher” would include 8.) But if something DOES have a fair market value of 8, that doesn’t mean it will SELL for 8 – especially in a bad market when people need to be tempted with great bargains to take any risk. Sometimes, specific stocks or market sectors – and often the market as a whole – tend to be undervalued. Other times, overvalued.
Quote of the Day
As they say in poker, 'If you've been in the game 30 minutes and you don't know who the patsy is, you're the patsy.'~Warren Buffett
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Strangling The Life Out Of Democracy
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The Planets Are Spaced Out
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Mr. Rogers, Peggy Noonan, And Thanksgiving
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Hug A Republican
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Listen To Lindsey
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