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Posts Tagged ‘reform’

Enjoying Coffee in the Lodge with Jesse

THE BANKS MUST BE RESTRAINED, AND THE FINANCIAL SYSTEM REFORMED, WITH BALANCE RESTORED TO THE ECONOMY, BEFORE THERE CAN BE ANY SUSTAINED RECOVERY – Jesse 

Enjoying Coffee at the Lodge with Jesse 

By Ilene

coffee at the lodge with JesseI have long been a fan of Jesse’s Café Américain. Jesse is a brilliant writer and a deep thinker who uniquely transcends politics, easily seeing through lies and disinformation. He has a great feel for what really matters, and the courage to speak out about it.  Jesse and I have spoken before about the economy, markets and politics, and being at a crossroads once again, it was a perfect time to catch up. 

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Ilene: Hi Jesse, since our last interview, I would guess that we’d both agree that nothing has been done to clean up the financial system – the banks and government interconnectedness, conflicts of interest, and out-and-out fraudulent activities.  Are things better or worse, or in line, with what you were expecting over a year ago?

Jesse: I think things are progressing in line with what I had expected, with the Fed and the government trying to prop up an unsustainable status quo by monetizing debt.  I am still a little shocked by the brazen manner in which the financial markets are being conducted and regulated, and the news is reported in the US. It is one thing to hold a theory that says something will happen, but it is quite another to see it actually happening, and so blatantly, almost without a word of protest.

Ilene: How do you view our financial system and the global financial system now, with no progress towards any kind of reform?

Jesse: The US is now being run by an oligarchy, with lip service being paid to the electorate in allowing the people to vote for the candidates that the parties and the powers will put forward.  There will be no recovery for the middle class until they assert themselves. I know I have stated this often in my tag phrase, “The banks must be restrained…” But it is the case.

There are areas of resistance to this trend on what one might call ‘the fringes of Empire,’ those client states which have been ruled by powerful cliques with the support and the protection of the US.  Although certainly not a great analogy, it does remind one of…
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Runaway Feedback Loops, Wealth Concentration and Gaming-The-System

Runaway Feedback Loops, Wealth Concentration and Gaming-The-System

Courtesy of Charles Hugh Smith, Of Two Minds

Canada, Newfoundland and Labrador, iceberg in ocean

Positive feedback loops soon reach the runaway/self-destruction stage. Concentrations of wealth and gaming-the-system are reaching just such levels.

Positive feedback loops lead to runaway scenarios. The classic example is global warming and the Arctic ice cap. As temperatures rise, the the ice melts, exposing more land or seawater. Ice reflects solar radiation, and so as it shrinks then more solar radiation is absorbed, raising temperatures more, which melts the ice faster, which then leads to more solar radiation being absorbed, and so on.

The runaway feedback loop leads to the disappearance of the Arctic ice and a much warmer planet.

Nature has multiple feedback loops, and so the solar radiation flux may be acting to reduce temperatures as the positive feedback of melting ice raises temperatures. But the point is that positive feedback is self-reinforcing and it speeds up processes as it gathers momentum.

We can see runaway feedback loops in the economy and society, not just in Nature. One of the key runaway feedbacks in the U.S. is the concentration of wealth and political power.

As wealth has become concentrated in the top 1/10th of 1%, then the political power that can be purchased with that wealth also rises, which then enables the wealthy to increase their wealth via "Federal entrepreneurship" and other means.

The political process--once potentially a force resisting or moderating wealth--has been completely captured by an ever-expanding army of lobbyists, the fast-spinning revolving door between the Central State and corporations and unprecedented levels of corporate/Elites campaign contributions.

The judiciary, theoretically a force which could have resisted this concentration of wealth and political power, has also been co-opted by a marriage of ideology and wealth/power. Thus the courts have gutted every attempt at limiting corporate/insider influence over the processes of governance; the courts have enabled corporations to have the "right to free (paid) speech" unburdened by the obligations that go with such rights.

The wealth/power feedback has reached runaway levels. "Reforms" are gutted in backroom deals, votes to benefit the banking/mortgage/foreclosure industry are done on voice calls to evade public scrutiny, and a thousand other games and tricks are played daily to subvert the common good for the benefit of the few and their armies of technocrat toadies.

The other positive feedback loop approaching runaway levels is the Entitlement/Welfare State, both
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The Normalization of Sociopathology in America

The Normalization of Sociopathology in America 

Courtesy of Charles Hugh Smith, Of Two Minds

The moral rot at the center of American life results from a normalization of pathologies--sociopathic and psychopathic states and behaviors are now "normal" or incentivized. Moral behavior is institutionally punished.

My entry on the moral rot which has taken hold in all socio-economic levels of America drew a number of insightful responsesRunaway Feedback Loops, Wealth Concentration and Gaming-The-System (October 13, 2010).

While the American/Western worldview holds that we are autonomous individuals exercising free will at every moment, in reality we are all heavily programmed by our socio-economic class conditions. What is so striking about present-day America is the way in which the narcissistic, no-moral-compass social pathologies of entitlement, denial and fabrication of "truth"/reality has been "normalized" (accepted as normal behavior and thinking) in all social classes.

Before we analyze that further, let’s get some direct experiences from three observant readers.

First up in Freeacre, one of the proprietors of the excellent Trout Clan Campfire blog:

Here are my examples (of the feedback loops you described):

Thirty-one years ago, when I was pregnant with my son, a friend in San Francisco explained to me that I should go down and apply for welfare. He told me the the social workers basically tell you the right answers to give when applying. They ask the question and you just say agree with whatever it is. That’s the game. (I didn’t do it, choosing to marry the father of our child and live a life of penury instead…)

2) We finally were able to buy a house in Portland. Our next door neighbor lived in one exactly like ours. But, she was divorced and had two kids. Her kids went to church school for free, got free clothing and medical care, her mom collected her rent from the state, she got food stamps, and on and on. Her ex even got a penile implant due to an unfortunate motorcycle accident! We ended up losing our home and car and having to declare bankruptcy due to our son’s medical bills for cancer.

3) Years later, when my husband got cancer and I had to pay his COBRA payments up front, I had hardly any money for food or the house payment from my job at the Tahoe Daily Tribune. When I inquired what we could do to qualify for some assistance, the social


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In The Headlights

In The Headlights

Courtesy of James Howard Kunstler 

LIMPOPO, SOUTH AFRICA - JULY 21: A lion walks past a jeep's headlights at the Pafuri game reserve on July 21, 2010 in Kruger National Park, South Africa. Kruger National Park is one of the largest game reserves in South Africa spanning 19,000 square kilometres and is part of the Great Limpopo Transfrontier Park. (Photo by Cameron Spencer/Getty Images)

     The toils of summer are bygone now. The days grow shorter and America stands in the darkling road of its own prospects like a dumb animal frozen in the blinding light of approaching fury. The White House must be a strange place these days with the management of the USA turned over to astrologasters, alchemists, prayer-wheel spinners, fakirs, viziers, necromancers and other visitors from occult realms unaffiliated with the dominion of reality. 

     One of these characters, Ms. Christina Romer, at a luncheon celebrating her departure as chief of the White House Council of Economic Advisors (i.e. readers of spilled goat innards) even blurted out that she had no idea what’s been going on in banking and business and how come America can’t be more like it was in 1999. Don’t cry for Christina. A cushy chair awaits her at the Hogwarts Berkeley outpost where she can repose in a trance of unknowing until California slides into its own tar pit of default and disintegration.

    It’s all a mystery in Washington. Nobody can figure out what happened to their green-eyed champion called Growth, that savior who rights all wrongs and insures our eternal exception from the sad fates of other less-blessed empires. Isn’t there a book of conjures somewhere in the Harvard Business School that guarantee perpetual growth — even if there are different tomes around the campus that describe the essential tragic nature of life, viz., that there is a beginning, a middle, and an end to everything. And while this might not be the end of the human project in North America, it is certainly the end of the cheap oil abbondanza, and everything spun off of it in the way of mass consumer luxury, with air-conditioning and a cherry on top.

     My own view — I might be wrong-- is that we are going through an epochal compressive contraction, which is the opposite of growth. Money is disappearing because debts are being welshed on in such a volume that all the digital dollars conjured out of chief wizard Ben Bernanke’s magic booty box are but empty spells cast into a hurricane of broken promises. This is no Hurricane Earl – which stared into the discharge tube of Lloyd Blankfein’s cappuccino machine and skidded off whimpering into the fogs of Newfoundland. This…
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Wall Street CEOs Are Nuts

Wall Street CEOs Are Nuts

Courtesy of James Kwak at Baseline Scenario 

“Geithner’s team spent much of its time during the debate over the Senate bill helping Senate Banking Committee chair Chris Dodd kill off or modify amendments being offered by more-progressive Democrats. A good example was Bernie Sanders’s measure to audit the Fed, which the administration played a key role in getting the senator from Vermont to tone down. Another was the Brown-Kaufman Amendment, which became a cause célèbre among lefty reformers such as former IMF economist Simon Johnson. ‘If enacted, Brown-Kaufman would have broken up the six biggest banks in America,’ says the senior Treasury official. ‘If we’d been for it, it probably would have happened. But we weren’t, so it didn’t.’”

Oh, well.

That’s one passage from John Heileman’s juicy article in New York Magazine. It provides a lot of background support for what many of us have been thinking for a while: the administration is happy with the financial reform bill roughly as it turned out, and it got there by taking up an anti-Wall Street tone (e.g., the Volcker Rule), riding a wave of populist anger to the point where the bill was sure of passing, and then quietly pruning back its most far-reaching components. If anything, that’s a testament to the political skill of the White House and, yes, Tim Geithner as well.

There are two other things in the article I thought worth commenting on. Here’s one:

Cupid holding heart box of Valentine candy

“Obama could be forgiven for expecting greater reciprocity from the bankers—something more than the equivalent of a Hallmark card and a box of penny candy. He had, after all, done more than saved their lives directly by continuing the bailout policies formulated by Paulson and Geithner. He and his team could credibly claim to have kept the world economy from falling off a cliff. Yet with the unemployment rate still near double digits, Obama had (and still has) received scant credit from the public for what was arguably his signal accomplishment. At the same time, the one thing that almost every slice of the electorate would have applauded wildly—the sight of the president landing a few haymakers on Wall Street’s collective jaw—was an opportunity that the president had largely forsworn.”

This is a theme you hear a lot these days — the idea that Obama (or Geithner)…
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The White House Should Stop Pandering to the Street and Support Three Critical Banking Reforms

The White House Should Stop Pandering to the Street and Support Three Critical Banking Reforms 

Courtesy of Robert Reich 

The White House opposes three important financial reforms that have drawn bi-partisan support in the Senate. It should reverse course. 
 
1. Require the Fed to disclose the entities it lends to. There’s no reason the public should be kept in the dark about who benefits when the Fed departs from its traditional interest-setting role and chooses to provide credit (or in Fed parlance, “open its discount window”) to particular companies or entities. To the contrary, a well-functioning capital market and a well-functioning democracy depend on full disclosure about who the Fed picks for such special treatment and why.

Senator Bernard Sanders, Independent of Vermont, pushed an amendment requiring that the Fed be subject to a public audit that reveals which specific companies and entities the Fed is supporting with extra loans. The measure drew support on both sides of the aisle, including conservative Republicans like David Vitter of Louisiana. But Sanders’s amendment met stiff opposition from the White House and the Fed. Both argued that it would undermine the Fed’s independence. That’s a red herring.  Fed’s independence is important when it comes to basic decisions about monetary policy and short-term interest rates, but not about which companies and entities get special treatment. 
 
Bowing to the pressure, Sanders has agreed to alter his proposal. He says his new amendment would still force the Fed to disclose many of its steps to bail out banks. But what why shouldn’t all of the Fed’s special machinations be disclosed? And why limit disclosure only to the banks that the Fed supports and not other firms or entities? Sanders shouldn’t retreat on this. 
 
2. Require big banks to spin off their derivative businesses. Derivatives got us into the mess and Wall Street’s biggest banks are still wielding them like giant poker games. That’s because they’re enormously lucrative for the banks. But they’re also dangerous to the economy because bad bets can lead to meltdowns, especially if they’re backed only by flimsy promises to pay up rather than real capital. The credit default swap business continues to be out of control. To this date, no one knows how big it is, where it is, and who has promised what. 

Senator Blanche Lincoln, Democrat of Arkansas, has pushed an…
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Reform We Can Believe In

Reform We Can Believe In

Courtesy of John Mauldin at Thoughts from the Frontline 

New York Mets Opening Day at Citi Field in New York

It’s Time for Reform We Can Believe In 
The Fed Must Be Independent 
Credit Default Swaps Threaten the System 
Too Big To Fail Must Go 
And This Thing About Leverage 
What Happens If We Do Nothing? 
New York, Media, and La Jolla

Casey Stengel, manager of the hapless 1962 New York Mets, once famously asked, after an especially dismal outing, "Can’t anybody here play this game?" This week I ask, after months of worse than no progress, "Can’t anybody here even spell financial reform, let alone get it done?" We are in danger of experiencing another credit crisis, but one that could be even worse, as the tools to fight it may be lacking when we need them. With attacks on the independence of the Fed, no regulation of derivatives, and allowing banks to be too big to fail, we risk a repeat of the credit crisis. The bank lobbyists are winning and it’s time for those of us in the cheap seats to get outraged. (And while this letter focuses on the US and financial reform, the principles are the same in Europe and elsewhere, as I will note at the end. We are risking way too much in the name of allowing large private profits.) And with no "but first," let’s jump right in.

Last Monday I had lunch with Richard Fisher, president of the Federal Reserve Bank of Dallas. Mr. Fisher is a remarkably nice guy and is very clear about where he stands on the issues. My pressing question was whether the Fed would actually accommodate the federal government if it continued to run massive deficits and turn on the printing press. Fisher was clear that such a move would be a mistake, and he thought there would be little sentiment among the various branch presidents to become the enabler of a dysfunctional Congress.

federal reserveBut that brought up a topic that he was quite passionate about, and that is what he sees as an attack on the independence of the Fed. There are bills in Congress that would take away or threaten the current independence of the Fed.

I recognize that the Fed is not completely independent. Even Greenspan said so this past week: "There’s a presumption that …
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The Future After Health Care

The Future After Health Care

By Megan McArdle, The Atlantic 

Regardless of what you think about health care, tomorrow we wake up in a different political world.

Parties have passed legislation before that wasn’t broadly publicly supported.  But the only substantial instances I can think of in America are budget bills and TARP--bills that the congressmen were basically forced to by emergencies in the markets.

P>One cannot help but admire Nancy Pelosi’s skill as a legislator.  But it’s also pretty worrying.  Are we now in a world where there is absolutely no recourse to the tyranny of the majority?  Republicans and other opponents of the bill did their job on this; they persuaded the country that they didn’t want this bill.  And that mattered basically not at all.  If you don’t find that terrifying, let me suggest that you are a Democrat who has not yet contemplated what Republicans might do under similar circumstances.  Farewell, social security!  Au revoir, Medicare!  The reason entitlements are hard to repeal is that the Republicans care about getting re-elected.  If they didn’t--if they were willing to undertake this sort of suicide mission--then the legislative lock-in you’re counting on wouldn’t exist.

Oh, wait--suddenly it doesn’t seem quite fair that Republicans could just ignore the will of their constituents that way, does it?  Yet I guarantee you that there are a lot of GOP members out there tonight who think that they should get at least one free "Screw You" vote to balance out what the Democrats just did.

Read whole article here.>>


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The High Water Mark of a Broken System: U.S. “Healthcare”

The High Water Mark of a Broken System: U.S. "Healthcare" 

Courtesy of Charles Hugh Smith, Of Two Minds 

House Rules Committee Meets On Reconciliation Act of 2010

The U.S. "healthcare" system is broken financially and in terms of improving the overall health of the citizenry; costs have doubled, with no end in sight. 

Whether the massive 2,700-page "reform bill" passes or not, this is the high water mark of America’s broken "healthcare" system. I call U.S. "healthcare" sickcare because it is failing to improve the health of the citizenry even as its share of GDP has doubled in the past 30 years.

This is the high water mark because the fiscal insolvency built into the system will only gain momentum from this point in time.

Here are the core facts:

1. The U.S. spent 17.6% of its GDP on "healthcare" in 2009, while other developed economies (Japan, Britain, Spain, Italy, Australia, et al.) spent roughly half that share (about 8.5%).

2. Thirty years ago, the U.S. also spent about 8.5% of its GDP on healthcare.

3. Even though we spend twice as much as other developed countries, the health of our workforce lags the health of workforces in nations which spend half of what we do.

4. The health of our workforce is only marginally better than the workforces in countries which spend 15 cents for every dollar we spend on healthcare.

I have covered the fundamental problems of the U.S. sickcare system recently in three articles for AOL-Daily Finance. The above data is sourced in the first story:

Skyrocketing Health Care Costs Hamper U.S. Competitiveness

Improving Americans’ Health, With or Without Health Care Reform

Is Fee-for-Service What Ails America’s Health Care System?

Three key concepts of the Survival+ analysis illuminate the inherent insolvency and failure of U.S. sickcare:

1. An integrated understanding of health and well-being reveals that the American way of growing food/raising animals/selling packaged food, its diet and its approach to fitness are fundamental drivers of diseases which cannot be "fixed" with surgery or pills--the two "hammers" sickcare deploys against all diseases.

An integrated understanding of food, health, diet, fitness, community, autonomy, transparency and responsibility are the building blocks of a positive approach to healthcare/public health.

I am indebted to Dr. David D. (M.D.) for an introduction to Ivan Illich’s profound critique of healthcare, Limits to Medicine: Medical Nemesis, the
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Eleven Principles of Financial Reform

Eleven Principles of Financial Reform

Courtesy of Jesse’s Americain Cafe (intro), and Vox

Barney Frank Discusses Health Care Reform At Town Hall Meeting

Personally I doubt that the US is capable of self-reform at this time. I think the corruption of the system runs that deeply and is embedded in the national consciousness as a reflexive set of slogans (the big lies) that substitute for empirical thought and effective policy formation. The examples of ‘thinkspeak’ are almost endless, but the irony is that the inmates of the asylum can no longer recognize them as such. 

The major media is owned by a few corporations, and the Congress listens to its large contributors and ignores the public except at election time, when it inundates them with expensive media campaigns, political spin, and propaganda. And then it is back to business as usual

What will it take? It took the Japanese about twenty years of economic privation to finally get rid of the LDP political party that had ruled the country since the Second World War. It may take ten years of stagflation and economic hardship for the American people to wake up and put an end to the crony capitalism that has captured its two party political system. A good start would be to continue to eject incumbents from both parties, and to start electing viable third party candidates. But that will take more a more thoughtful venue than is currently the norm.

Vox
Eleven Lessons From Iceland
Thorvaldur Gylfason
13 February 2010

…What can be done to reduce the likelihood of a repeat performance – in Iceland and elsewhere? Here are eleven main lessons from the Iceland story, lessons that are likely to be relevant in other, less extreme cases as well.

Lesson 1. We need effective legal protection against predatory lending just as we have long had laws against quack doctors. The problem is asymmetric information. Doctors and bankers typically know more about complicated medical procedures and complex financial instruments than their patients and clients. The asymmetry creates a need for legal protection through judicious licensing and other means against financial (as well as medical) malpractice to protect the weak against the strong.

Lesson 2. We should not allow rating agencies to be paid by the banks they have been set up to assess. The present arrangement creates an obvious and fundamental conflict of interest and needs to be revised. Likewise, banks should not be allowed to hire employees of regulatory agencies,…
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Zero Hedge

Swiss Central Bank Scrambles Against Russian Capital Flight, Joins ECB In Sending Deposit Rates Negative

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Everyone thought that any major monetary policy surprises and/or capital controls today would come from Putin during his annual press conference. Boy were they wrong: just after 2 am Eastern, none other than the Swiss National Bank joined the ranks of the ECB in scrambling to stem the wave of capital flight, not to mention the cost of money, when it announced it too would start charging customers for the privilege of holding cash in its banks, when it revealed a negative, -0.25% interest rate on sight deposits: a step which according to the SNB was critical in maintaining the 1.20 EURCHF floor.

...



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The Russian Enigma Unravels

Courtesy of Marc to Market

  Winston Churchill famously said of Russian foreign policy that it was "...a riddle, wrapped in a mystery, inside an enigma."  What people leave out is what followed.  Churchill offered an answer:  "... perhaps there is a key. That key is Russian national interest."   And so it is.   Like most crises, the crisis Russia is experiencing is over-determined, in the sense there ar...

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Chart School

Relief Bounce in Markets

Courtesy of Declan.

Those who took advantage of markets at Fib levels were rewarded.  However, this looked more a 'dead cat' style bounce than a genuine bottom forming low.  This can of course change, and one thing I will want to see is narrow action near today's high. Volume was a little light, but with Christmas fast approaching I would expect this trend to continue.

The S&P inched above 2,009, but I would like to see any subsequent weakness hold the 38.2% Fib level at 1,989.


The Nasdaq offered itself more as a support bounce, with a picture perfect play off its 38.2% Fib level. Unlike the S&P, volume did climb in confirmed accumulation. The next upside c...

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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Digital Currencies

Chart o' the Day: Don't "Invest" in Stupid Sh*t

Joshua commented on the QZ article I posted a couple days ago and perfectly summarized the take-home message into an Investing Lesson. 

Chart o’ the Day: Don’t “Invest” in Stupid Sh*t

Courtesy of 

The chart above comes from Matt Phillips at Quartz and is a good reminder of why you shouldn’t invest in s...



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Insider Scoop

Pivotal Research Upgrades Twitter & Google, Finds Both Are Undervalued By 20%

Courtesy of Benzinga.

Analysts at Pivotal Research Group on Wednesday upgraded shares of Google Inc (NASDAQ: GOOGL) and Twitter Inc (NYSE: TWTR) from Hold to Buy.

Analyst Brian Wieser finds both companies are currently undervalued by 20 percent.

Shares of Google were recently up 1.5 percent at around $503.

Shares of Twitter were up 1.6 percent at $35.63.

...

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OpTrader

Swing trading portfolio - week of December 15th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Sabrient

Sector Detector: Energy sector rains on bulls' parade, but skies may clear soon

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Scott Martindale of Sabrient Systems and Gradient Analytics

Stocks have needed a reason to take a breather and pull back in this long-standing ultra-bullish climate, with strong economic data and seasonality providing impressive tailwinds -- and plummeting oil prices certainly have given it to them. But this minor pullback was fully expected and indeed desirable for market health. The future remains bright for the U.S. economy and corporate profits despite the collapse in oil, and now the overbought technical condition has been relieved. While most sectors are gathering fundamental support and our sector rotation model remains bullish, the Energy sector looks fundamentally weak and continues to ran...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly.

Click here and sign in with your user name and password. 

 

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Option Review

SPX Call Spread Eyes Fresh Record Highs By Year End

Stocks got off to a rocky start on the first trading day in December, with the S&P 500 Index slipping just below 2050 on Monday. Based on one large bullish SPX options trade executed on Wednesday, however, such price action is not likely to break the trend of strong gains observed in the benchmark index since mid-October. It looks like one options market participant purchased 25,000 of the 31Dec’14 2105/2115 call spreads at a net premium of $2.70 each. The trade cost $6.75mm to put on, and represents the maximum potential loss on the position should the 2105 calls expire worthless at the end of December. The call spread could reap profits of as much as $7.30 per spread, or $18.25mm, in the event that the SPX ends the year above 2115. The index would need to rally 2.0% over the current level...



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Market Shadows

Official Moves in the Market Shadows' Virtual Portfolio

By Ilene 

I officially bought 250 shares of EZCH at $18.76 and sold 300 shares of IGT at $17.09 in Market Shadows' Virtual Portfolio yesterday (Fri. 11-21).

Click here for Thursday's post where I was thinking about buying EZCH. After further reading, I decided to add it to the virtual portfolio and to sell IGT and several other stocks, which we'll be saying goodbye to next week.

Notes

1. th...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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