Uncategorized
Next Entries »Obama Stimulus Package: an urgent need to do nothing
Written by Michael Vass
The more I hear about the Obama stimulus package, the less I like it. Yet it is the most “urgent” piece of legislation that his Administration is working on passing, immediately. Just as the $800 billion for the credit crisis had to be immediate.
And just as with the mortgage/credit bailout quick action [...]
Don’t say I didn’t warn you
Written by Michael Vass
I have been talking about the economy and what would happen if a Democrat would win since late 2007. When it became clear that President Obama was the Democratic nominee I discussed how the stock market would react to his win. And after the election I forecasted what would likely happen to [...]
Surprise! We are still in a bear market.
Written by Michael Vass
Let me see if I understand this correctly.
“A jump in unemployment sent stocks sharply lower Friday as investors feared that Americans won’t soon deviate from their tightened budgets.”
That means that someone thought consumers would go back to spending money, or realistically increasing debt, because the new year started? Or they thought that [...]
New stimulus package is 60% waste
Written by Michael Vass
Now that we have entered 2009, the time for details has begun. President Obama has now stated that he intends to make 40% of the proposed stimulus plan, that was championed by Speaker of the House Nancy Pelosi from $50 billion to its now $800 billion level, business tax-cuts. That is the [...]
Mike Huckabee v. Jon Stewart - fiscal policy that’s not funny
Written by Michael Vass
So I saw an interesting thing the other day on the Jon Stewart Daily Show. It was a discussion between Stewart and Mike Huckabee. As you might imagine it was confrontational, but not to the degree of say Bill O’Reilly and Rep. Barney Frank.
The crux of the first part of the conversation [...]
New York State budget problem
Written by Michael Vass
So I have been listening to the argument that New York State needs to increase it’s taxes to make the budget. It is expected that the State will miss by some $15 billion, and thus something needs to be done.
The current plan will increase taxes on everything from State college tuition to [...]
What the 2008 bailouts really cost
Written by Michael Vass
I had some extra time today so I decided to take a look at what has happened this year. I wanted to go back and take a look at the various buyouts and bailouts that the Government has backed, and the promises made so far. And the numbers are horrendous.
The main focus [...]
Obama’s new economic team - better or worse than now?
Written by Michael Vass
Finally we have seen President-elect Obama stick by a campaign promise. It took long enough. I am of course referring to the nomination of the Treasury Secretary position today. Tim Geithner will replace Paulson and Larry Summers will lead the National Economic Council, which is a positive to a degree.
I had remarked [...]
Couple Links: adult game launch and review
Written by Michael Vass
If you watch the news in recent weeks you might believe that the economy is singing a death knell. You might think that every small business in America is on the verge of failing. And if you happen to be Black or a woman, the major media would have you believe that [...]
President Obama’s first 100 days: a prediction
Submitted by <b><i><a href=”http://www.mvass.com”>Michael Vass</a></i></b>
Ok, now that the Obama election win inspired drunkenness has passed the question for many is what is he going to do. Fantastic speeches, and pointing fingers at the past are wonderful ways to get elected, but mean nothing when you need to lead. What can we discern now?
Well we know [...]
Bailing out the stock market, and killing the economy
Written by Michael Vass
Don’t you love when the Government spends your money? And they do it on a scale so grand that you just have to stop and go wow.
Currently the Government has proposed the best deal Wall Street has ever seen. After having spent over a quarter of a billion dollars on Bear Sterns [...]
Yes I thought Lehman was a buy - in 2005
Written by Michael Vass
I was speaking with an old friend and colleague of mine today, and he reminded me of something I had forgotten. As I have mentioned before I was a stockbroker, and I worked with my friend for a few years. While we were at the same firm one of my bigger positions [...]
Taxes: the real Presidential candidate issue
Written by Michael Vass
With all the attention being place on oil and energy in the past few days I thought I’d take another look at taxes. One of the least popular issues that every Presidential race focuses on. And consistently the public has the same request, lower taxes.
For 2008, the ‘election of change’ [a dumb [...]
Creating wealth in the stock market - ideas
Written by Michael Vass
** Mr. Vass does not solicit nor recommend any tool, style, company, or other investment. This is meant as an educational and discussion tool only. **
From time to time I am asked questions about the stock market, investing, owning a business, and other questions relating to generating and maintaining wealth. Most often [...]