Especially considering that under Bernanke at least, they had almost no bullets left in the Fed's gun to deal with a sputtering economy, China's currency manipulations, and an EU in disarray.
Personally I think Bernanke was the by far the best Fed Chairman in modern history and Yeltsin has been doing a passable job as well. Now I will agree that the equity markets are full of hot air just waiting for a pin prick to burst them and if I were long the market I would do so with my finger poised over the sell button 24/7, but where else does the average person put their money? Buying debt, either corporate or government pays virtually nil, Commodities are all underperforming, there are just very few places for the "average Joe" or even a hedge fund to deploy their cash. Personally I don't think the strategy of "keeping some dry powder" in the form of cash is such a bad idea. Bursting bubbles always create opportunities, but only for people who don't go broke in the bust.Carly is quick to lambaste Mr. Obama for the Iran agreement; she says Mrs. Clinton is a liar for her statements about her emails and Benghazi; and she insists HP owes much of its success to her fine micro- management skills.
But now we learn that, during her tenure as CEO of HP, HP -thru a subsidiary and a front company formed solely to sell to Iran- sold hundreds of millions of dollars worth of printers to Iran when, according to some commentators, this was prohibited by law. In fact, as late as 2007, HP had 41% of the market share for printers in Iran. We also learn that HP lobbied Congress to ease up on the sanctions to allow for even more sales.
“I had no idea we were selling to Iran,” Carly told Chris Wallace this morning. She claims a SEC investigation concluded “no one in management knew about this” but that is not the way agencies perform these investigations.
Seems to me she can’t have it both ways- either she is not competent for being unaware that her company was violating the sanctions law (how can a CEO and her “management” not be aware of the source of hundreds of millions of dollars of sales?) , or she is lying about it.
I'd say her rise in the polls will not last long as this story is developed.
And you guys think Hillary is untrustworthy
but she certainly doesn't have a monopoly on it.
People (the media) keep saying how great a campaign Fiorina is running and how she is "winning" these debates. I call bullshit, I don't see it at all and I think they only like her because she talks tough and she's a woman. Her ONLY chance is to out trump Trump as the business person outsider and that is just not going to happen.
That bad news for the Trump haters is that many of her supporters, even the women, are going to end up in the Trump camp, not in the camps of any of the career politicians.
and yes, once again her defense comes down to being stupid instead of evil where the printers are concerned. It was her job to know what was going on under her watch.
One last thing for the record, I have so little faith in Carly that if it came down to her and the Hildabeast, I'd vote for the beast. Hilary is a liar, a cheat, and a host of other not so nice things, but she does have an aura of competence to her, Carly does not.
People (the media) keep saying how great a campaign Fiorina is running and how she is "winning" these debates. I call bullshit, I don't see it at all and I think they only like her because she talks tough and she's a woman. Her ONLY chance is to out trump Trump as the business person outsider and that is just not going to happen.
That bad news for the Trump haters is that many of her supporters, even the women, are going to end up in the Trump camp, not in the camps of any of the career politicians.
and yes, once again her defense comes down to being stupid instead of evil where the printers are concerned. It was her job to know what was going on under her watch.
One last thing for the record, I have so little faith in Carly that if it came down to her and the Hildabeast, I'd vote for the beast. Hilary is a liar, a cheat, and a host of other not so nice things, but she does have an aura of competence to her, Carly does not.
Everyone was sucking up to her for having such a better command of the facts than did Trump. I guess it's pretty easy to "appear" to be informed when in fact you are just making shit up. Kind of reminds me of WillyWonka.
-- Modified on 9/20/2015 9:49:01 AM
Didn't you invest a significant amount of money in Freeport-McMoRan? The same company that mined for precious metals in exchange for death, exploitation and contamination at the Grasberg mine for 45 years. Didn't you also invest in America's most hated bank? Yes, Bank of America, and their role in the sub-prime debacle. Preying on the hard working average Americans, throwing them out of their homes, charging onerous fees.
Let me guess mari, you bought HP when it was trading north of $40 a share, and now it's trading at $26 and change. You're pissed because you can't pick stocks, and now you take it out on Carly and the fact she sold a few thousand printers to Iran, probably at a premium price. Seriously mari, attack her on the obscene ink cartridge profit margins, not this bit of trivia. Sounds like you spent the weekend with Barbara Boxer and the DNC developing the libs initial attack ads. Are you looking at Iran ads first, then transitioning to the supposedly 30,000 layoffs, outsourcing, or maybe the yacht purchase from way back when?
But now we learn that, during her tenure as CEO of HP, HP -thru a subsidiary and a front company formed solely to sell to Iran- sold hundreds of millions of dollars worth of printers to Iran when, according to some commentators, this was prohibited by law. In fact, as late as 2007, HP had 41% of the market share for printers in Iran. We also learn that HP lobbied Congress to ease up on the sanctions to allow for even more sales.
“I had no idea we were selling to Iran,” Carly told Chris Wallace this morning. She claims a SEC investigation concluded “no one in management knew about this” but that is not the way agencies perform these investigations.
Seems to me she can’t have it both ways- either she is not competent for being unaware that her company was violating the sanctions law (how can a CEO and her “management” not be aware of the source of hundreds of millions of dollars of sales?) , or she is lying about it.
I'd say her rise in the polls will not last long as this story is developed.
And you guys think Hillary is untrustworthy.
-- Modified on 9/20/2015 3:40:56 PM
-- Modified on 9/20/2015 4:20:07 PM
The OP's investment history has nothing to do with the validity of his post. I call cheap shot.
-- Modified on 9/20/2015 8:34:35 PM
I knew I was going to like this thread, we can make fun of Carly Fiorina and Marikod at the very same time.
St.C's post had zip to do with the OP's point. It had only to do with his investments. Admittedly, those have been an epic fail. So was St.C's post. The blow he landed was to his own head.
You need more vodka. Please start now. I already have.
-- Modified on 9/20/2015 10:26:54 PM
It didn't have to be relevant to the OP to be a direct hit.
and looking at the market today it appears that Mari the prognosticator is still batting a thousand with HP basically unchanged today and his "Headline News" is not even a footnote. So I would say that St C made a direct hit on Mari's rowboat.
I'm really flattered you follow my posts so carefully. Didn't you say exactly the opposite yesterday? Oh, well. They do say it's a woman's prerogative to change her mind. LMAO!
during her tenure, that will be fatal to her presidential, or vice presidential chances. If she was just incompetent, that undermines her track record argument for election. So the stakes are high for her no matter how this turns out.
Although some media outlets are reporting a violation of the sanctions law, I’m not sure that is correct-HP has taken the position that the particular products exported to Iran were excepted from the sanctions by export regulations. Not sure why printers and ink would be excepted though. And HP promised to stop doing it after the SEC complained.
But a bigger problem for HP is its failure to disclose the Iran sales to investors. Remember many HP stock owners –universities, pension funds and counties –even Calpers- had policies against owning stock of companies doing business with Iran. If the undisclosed information is deemed “material” to investment risk, then HP violated the securities laws.
Watch and you will see HP stock fall tomorrow as investors worry about class actions. So, depending how it develops, this could be a big story
I've seen other public companies do a lot worse, with little to no impact to their share price. There are other more relevant factors affecting HP's stock price like splitting into 2 companies, or maybe it's because of the Fed, or China, or Europe, or it's September, pick one.
Do I think Carly knew....NO! When you are $100B+ company distributing products globally, and selling multiple products with multiple global distribution channels, that level of detail is not going to be funneled to the CEO. And they were selling printers and ink, not weapons systems. Nevertheless, HP, or any company for that matter, needs to have the right processes and people in place so this shit doesn't happen. At the end of the day, a CEO has to take the blame. So yes it was wrong? Punishment, probably a fine? I doubt this is on the SEC's top 10 target list.
Carly is having her 15 minutes of fame. It will pass. At the end of the day she will not be the Republican nominee. But if by some chance she gets traction, I totally expect the Dems to roll out the negative ads.
This is just not an issue to get all worked up about.
Although some media outlets are reporting a violation of the sanctions law, I’m not sure that is correct-HP has taken the position that the particular products exported to Iran were excepted from the sanctions by export regulations. Not sure why printers and ink would be excepted though. And HP promised to stop doing it after the SEC complained.
But a bigger problem for HP is its failure to disclose the Iran sales to investors. Remember many HP stock owners –universities, pension funds and counties –even Calpers- had policies against owning stock of companies doing business with Iran. If the undisclosed information is deemed “material” to investment risk, then HP violated the securities laws.
Watch and you will see HP stock fall tomorrow as investors worry about class actions. So, depending how it develops, this could be a big story.
-- Modified on 9/20/2015 9:03:20 PM
........of raising short term interest rates by 1/4 of 1 percent. Which leads me to another point, short term interest rates may likely never normalize -10yr Treasury's @ 5% - in our life times. The Federal Reserve has effectively put itself in a liquidity trap. Why anyone with even half a brain would want to run for POTUS in these times is beyond me. I believe the stock markets meteoric rise since the Great Recession has been largely driven by a firehose of Federal Reserve supplied liquidity. When not if, the Federal Reserve decides it has to pull back all that liquidity, watch out below!
Do I think Carly knew....NO! When you are $100B+ company distributing products globally, and selling multiple products with multiple global distribution channels, that level of detail is not going to be funneled to the CEO. And they were selling printers and ink, not weapons systems. Nevertheless, HP, or any company for that matter, needs to have the right processes and people in place so this shit doesn't happen. At the end of the day, a CEO has to take the blame. So yes it was wrong? Punishment, probably a fine? I doubt this is on the SEC's top 10 target list.
Carly is having her 15 minutes of fame. It will pass. At the end of the day she will not be the Republican nominee. But if by some chance she gets traction, I totally expect the Dems to roll out the negative ads.
This is just not an issue to get all worked up about.
Although some media outlets are reporting a violation of the sanctions law, I’m not sure that is correct-HP has taken the position that the particular products exported to Iran were excepted from the sanctions by export regulations. Not sure why printers and ink would be excepted though. And HP promised to stop doing it after the SEC complained.
But a bigger problem for HP is its failure to disclose the Iran sales to investors. Remember many HP stock owners –universities, pension funds and counties –even Calpers- had policies against owning stock of companies doing business with Iran. If the undisclosed information is deemed “material” to investment risk, then HP violated the securities laws.
Watch and you will see HP stock fall tomorrow as investors worry about class actions. So, depending how it develops, this could be a big story.
-- Modified on 9/20/2015 8:47:56 PM
-- Modified on 9/20/2015 9:03:20 PM
Especially considering that under Bernanke at least, they had almost no bullets left in the Fed's gun to deal with a sputtering economy, China's currency manipulations, and an EU in disarray.
Personally I think Bernanke was the by far the best Fed Chairman in modern history and Yeltsin has been doing a passable job as well.
Now I will agree that the equity markets are full of hot air just waiting for a pin prick to burst them and if I were long the market I would do so with my finger poised over the sell button 24/7, but where else does the average person put their money? Buying debt, either corporate or government pays virtually nil, Commodities are all underperforming, there are just very few places for the "average Joe" or even a hedge fund to deploy their cash. Personally I don't think the strategy of "keeping some dry powder" in the form of cash is such a bad idea. Bursting bubbles always create opportunities, but only for people who don't go broke in the bust.
Or more accurately, admirable for when? All they've done for 7 years is hold short term interest rates at zero and continuously generate liquidity out of thin air. Their quarterly decision has been the same for years which is to do nothing or do nothing differently than yesterday. How hard is that? The FED is not skilled, they are scared shitless. The longer they prolong the inevitable, the deeper the cavern will be. I say get it over with. It should have been allowed to happen 7 years ago.
.....I'm sure you're shocked to hear this...lol. The Fed policy makers are directly responsible for rising wage inequality, ever increasing bubbles in financial assets such as bonds, high end real estate, equity markets, commodities. I'm guessing they might next try to push interest rates below zero (negative) right in the maw of the 2016 elections. If you think people are mad now with Washington, just wait till that happens.
Without QE not only would our economy have cratered, but we would have owed trillions more interest to China. QE was the only bullet the Fed had left in its gun, and so far at least, it's kept us in the game. Will it lead to a stock market crash sometime in the future? yes most likely it will, but in the meantime until the Chinks stop with their currency manipulation, we have to fight fire with fire. The last thing this VERY fragile recovery needs is a stronger dollar than what we already have.
I will agree the Fed should make that quarter basis point sooner rather than later as it's already priced into the market and get rid of the uncertainty, because there is nothing the markets hate more than uncertainty. but in real terms a quarter point move is only a psychological one at most, and it's not going to be followed my any other upward moves any time soon, nor should it be.
Best to let it sink as soon as possible so it can be properly flushed. Then we could start again with a relatively fresh bowl. Of course life will be miserable for a while but the longer we wait to flush, the more bloated and bigger the turds get. At some point they'll no longer flush and things will get really miserable and messy.
If we flushed the whole world would have to as well
If we "flush" and we do so unilaterally, not only will China supplant us as the number one economy in the world, but even the EU will be more relevant to the world economy than us.
When you owe tens of trillions of dollars, cheap dollars are a necessity. A stronger dollar is the last thing we need. Say what you want about the Fed, but the last two fed chairmen/women seem to get this concept, and that is why they are loathe to pull the trigger on even a token 25 basis point increase in rates.
Inflation is inevitable and not necessarily even a bad thing as long as it's not out of control. With commodities in the toilet right now, inflation is hardly a worry, and that why the Fed is understandably loathe to raise rates.
What's much more important than fighting a nonexistent battle against inflation is to keep the dollar from getting any stronger than it already is, putting our American companies at a disadvantage in the international markets. This is a strategy the Chinese have been using against us for decades and I applaud the Fed for finally fighting back on our behalf.
Raising the rates isn't the goal. Avoiding another collapse is the goal
at the opening. Following a dead cat bounce, it still closed down for the day. How many millions in lost market cap is that? I’ll let you do the math.
Meanwhile, my suspicions about the supposed SEC exoneration have been confirmed. According to this reporter, there was no SEC investigation – simply a few inquiries from an SEC account manager about a HP filing. The Enforcement Division – the only part of the SEC that does investigations – did not investigate HP at all. And not even the accounting manger cleared Carly and management of knowing about the Iran sales. As far as what we know now, she told an outright lie about this. Do you think she will mention Hillary’s “lies” at that next press conference?
We have a real serial liar on our hands. But don’t give up all hope St. Croix, maybe Barbara Boxer will have something nice to say about her. What do you think?
Now that I have drummed Gov Perry out of the race, it’s time to move on. You read it here first-Carly is going down and deservedly so
You just keep popping up saying shit. I guess we'll need more than a 2 iron and dynamite.
Did you track HP all day? Oh yeah, it went down 0.38%. WOW! Volume was average. I guess Calpers, universities and pension funds didn't sell. Why? Because it's old news. The market doesn't care.
The funny things is while you were glued to the HP tape waiting for that big drop that never happened, your girlfriend Hillary went on a Twitter rampage targeting biotech firms and their price gouging. She said, and I quote, "I'm going to take care of this". What's funny is didn't you just bail out of Freeport (death, exploitation and contamination) and bought Regeneron, one of those companies in Hillary's tweet rampage, and it dropped 4% today. You just can't catch a break.
What's more important to you, making money or whether one candidate is more untrustworthy than another candidate?
Meanwhile, my suspicions about the supposed SEC exoneration have been confirmed. According to this reporter, there was no SEC investigation – simply a few inquiries from an SEC account manager about a HP filing. The Enforcement Division – the only part of the SEC that does investigations – did not investigate HP at all. And not even the accounting manger cleared Carly and management of knowing about the Iran sales. As far as what we know now, she told an outright lie about this. Do you think she will mention Hillary’s “lies” at that next press conference?
We have a real serial liar on our hands. But don’t give up all hope St. Croix, maybe Barbara Boxer will have something nice to say about her. What do you think?
Now that I have drummed Gov Perry out of the race, it’s time to move on. You read it here first-Carly is going down and deservedly so.
in gen election
But now we learn that, during her tenure as CEO of HP, HP -thru a subsidiary and a front company formed solely to sell to Iran- sold hundreds of millions of dollars worth of printers to Iran when, according to some commentators, this was prohibited by law. In fact, as late as 2007, HP had 41% of the market share for printers in Iran. We also learn that HP lobbied Congress to ease up on the sanctions to allow for even more sales.
“I had no idea we were selling to Iran,” Carly told Chris Wallace this morning. She claims a SEC investigation concluded “no one in management knew about this” but that is not the way agencies perform these investigations.
Seems to me she can’t have it both ways- either she is not competent for being unaware that her company was violating the sanctions law (how can a CEO and her “management” not be aware of the source of hundreds of millions of dollars of sales?) , or she is lying about it.
I'd say her rise in the polls will not last long as this story is developed.
And you guys think Hillary is untrustworthy.