Joe Biden is a fool.

Happiness Job did it again put his foot in mouth and made ass,or in his case jackass,of himself.The other day clueless Job said the Italy wouldn't effect the American economy.It reminded me of the talk in 2007 and 2008 stating we were de-couple from Europe of course that so wrong the troubles in Europe were precursor to the financial meltdown in 2008.But should know better for history tells us economy force around world come home to roost.This was true when in 1870 when Prussia(today northern Germany) conquer France very quickly and gain much booty to point that treasury was full,hence.only accept gold for state,in effort a gold standard, add that to the United States passing the coinage act of 1873(better know as Crime of 73)which made U.S de facto go on the gold standard,plus the growing railroad use in the U.S and Great Briton and Germany and around world and open of Suez Canal,all which made good far cheaper and lead to world depression,in U.S it was called the Panic of 1873 which direct cause was the failure of Jay Cooke and Company(which had finance much the Union during the Civil War)and crazy railroad speculation.
Now depression lasted much longer in U.K then U.S. In the U.K it lasted about twenty years,in the U.S 5 years.In part because in 1878 Congress passed over veto of President Hayes Bland-Allison which put Silver back in play as currency for U.S also in that same year Congress passed and this time the President signed the greenback act,which provide that many outstanding greenbacks remain part of currency.  

Was Charles Mitchell or Bernard Marcus the cause of crash in 1929?

Was Charles Mitchell or Bernard Marcus the cause of crash in 1929? Maybe or maybe both men had dealing with super attorney at time Max D. Steuer.
The financial troubles that lead to recession ego back to different time,indeed,back to nineteen thirties went crash of 29 cause in part the great depression.The headlines are same,bank overextended,foolish investment built on promise that downturn in economy are obsolete that goods times last forevermore.Oh names are different,now faded by history such names as Charles Mitchell,Bernard Marcus,Carter Glass the Senate Pecora Commission and the Bank of United States are long gone from public psyche but in it's day these names ring a bell of public distrust of our financial system-sounded familiar?
Bernard Marcus was a banker,his father had started up the Bank of United States,which had nothing to do with the American government,but unfortunately many people,particularly recent immigrants,indeed,they thought they hard earn money was safe for it was government bank but it wasn't.Like so many bankers of the day,Marcus speculated and when market was sky high all was right with world,but day reckon come and bank with 59 branches and 440,000 depositors fail,the largest bank failure of it's day.Marcus did go to jail and prosecutor was one Max D. Steuer.
Now  the king of speculation back then was another banker Charles Mitchell who was Chairman of National City Bank(today know as Citibank).Mitchell face wrath of nation,first he faced the angry of chief council Ferinand Pecora of Senate Committee looking to crash,both Pecora and Senator Carter Glass blame Mitchell for clash,indeed,out these hearing the Glass-Steagall come fruition,it lasted until the late nineteen nineties,when government stop being watch dog over and become pussy  cat.
Michell would be indicted by Dewey,however,the one man who beat Dewey in courtroom was Max D. Steuer Mitchell's defence lawyer and Mitchell not only beat rap,but live to see another on Wall Street and regain his fortune and indeed respect.

Rand Paul the new John Kennedy?

Rand Paul the new John Kennedy? What I'm I crazy? Rand Paul and John Kennedy how can what be? Simple John Kennedy,unlike brother Joe,understand his father was off charts politically,but knew he couldn't confront him so work around him.You see John Kennedy was far more grandson of Fitzgerald,the mayor of Boston then Joe's son.If Joe Jr. had lived he never become President too much like old man,a bigot a man who couldn't see the world as it is,believer in old ways,of the Irish of South Boston.
For Rand Paul his father is blessing and curse and think he knows it but never go against his father but will moderate things in such way that attracts more people to him then his father could ever dream of and like Kennedy,Paul has a winning way about him,looks and charm that his father never had,indeed,he just might live out the dreams of his father.
The Republicans big problem is talk radio:people like Rush Limbaugh,Mark Levin do the party no favor,indeed,by attacking people like Karl Rove there killing the G.O.P chances of winning Senate and holding the House in 2014.What's Rove's great crime? He wants winning candidate.Now you can tell me the G.O.P can't better in Todd Akin or in Nevada Sharron Angle(what a dope.)Now Right-Wing talk show host love use sophistry I hear Right-Wing gal on election night on Fox News state that Scott Brown so even moderates lost,but truth is Scott Brown was only moderate Republican that ran and when Republican loses in Massachusetts it's hardly news.
Then the other Mark Levin,who often uses sophistry stated if Senator Cruz or Rubio or Paul had been the G.O.P nominate for President they would win.Maybe,maybe not but they weren't candidates so point is stupid of all candidates that were running Romney was mostly likely the most electable,except maybe guy there hated Huntsman, or maybe Perry if remember three government programs he wanted eliminate the rest field were sure losers and lost far bigger then Romney.

Is Wal-Mart a bellweather for U.S economy?

Stuart Varney of Fox Business said yes,but Mike McKee(not sure his name is spelled right)of Bloomberg said not so fast.McKee points out once a pond time the FED look very close at Wal-Mart sales,as far as, he knows this was true at least until 2006 but belief is that Wal-Mart sales actually do better in bad economic time then good because they sell cheap goods,not necessary inferior good but cheap.
Now Wal-Mart profit this quarter beat estimates however,there forecast for growth is gloomy because of the increase in payroll tax,the I.R.S being slow with refunds and higher gas prices.
Jim Cramer from C-NBC,who despite his shtick is very smart and knows the market a good stock picker,said at 70 Wal-Mart is too high,while for New York Times to broke another scandal story about Wal-Mart and Mexico if stock drop below 67 it's a buy.

Buffet has given us food for thought

Buffet with his takeover of Heinz has given us food for thought,also investor Nelson Peltz has been buying up food stock for long time.
Here is some other possible takeover candidate in food industry.Campbell Soup what is more iconic
American brand then Campbell Soup? also owns Pepperidge Farm,V-8,Prego and many other brands.I don't think the original family is involved in the day to day operation,however,I think they still own about 5 percent of stock and just might be looking for buyer.Company sound stock wasn't ready dome in high twenties to low forties for years that's been the range.
Con Agra Food-many know brands like Guldens,Hebrew National,Peter Pan,Van Camp,Healthy Choice and many other plus a sound company just might be right for takeover.
Hershey-Own mostly by the Hershey try sell company a few years ago and maybe would try again.Of course,when think of chocolate bar you think of Hershey also made Reese bars,Kit Kat,Milk Duds, few to name few products.
General Mills- just may right for picking many great brands like Cheerios,Betty Croker,Pillsbury(may be dough boy will make you some dough) and many other brand,good company.
There are right for taking this just few that come to my mind.

Old man Kennedy must be turning over in his grave

Old man Kennedy(Joe Kennedy the patriarch of the Kennedy clan) must be turning over in his grave.For his grandson,his namesake is doing commercial praising Hugo Chavez.The dictator of Venezuela who hates America and is Communist gets a pass on his evil from failed politician Joe Kennedy.Joe Kennedy I think second the original of course was money machine,who lived and capitalism,Jr. who was suppose be the Present not John,although John was far superior politician,died in World War Two.Joe of our time,was Robert's son a clown and moron beyond belief.The Kennedy clan has seem better days it's glory is no more and this bizarre world the ghost of wealth haunts the stupid heirs to make fools of themselves.

The greatest Presidents

George Washington-The greatest of them all, this obvious there can be no other choice.For Washington was first,hence,he set the standard,and indeed,the fact he walk away from power makes perhaps the greatest man of all time.
Abraham Lincoln- He saved the Union and abolish slavery need I say more?
James Knox Polk- A surprise to many no doubt,not household name but should be for gain more territory for United State then any other President.
Thomas Jefferson- Louisiana Purchase
Ronald Wilson Reagan- I know this will drive the Left crazy,but then Left is crazy.Reagan perhaps the most underrated human being in world.For kept the crazy Right in line,win a war without firing a bullet and if don't believe me just look at map.Those mindless people on Left will say Gorbachev ended the Cold War.But honestly does any believe Gorbachev become the head of Soviet Union to see it's demise? And be the way,Reagan didn't end the Cold War he win It!
Franklin Delano Roosevelt-Lead in era of the Great Depression,yes he was too much dictator but in that era Germany produce Hitler and Russia(the Soviet Union) produce Stalin.Also fundamentally change America.Now stupid Right,maybe bigot claim Obama want change fundamentally American,well that's already been done by FDR.
Andrew Jackson-laid principle that no state can seceded from Union and if necessary the Federal government had the right use force and federal law was supper to state law,dealing with South Carlina nullification of  a tariffs of 1828 and 1832.
Woodrow Wilson- for better or worse he is the father of modern Liberalism,which strange for was a racist and a stern Presbyterian.
Dwight Eisenhower- perhaps the most underrated Presidents of them all,for kept the peace and country grow to prosper as never before.

A letter to editor in the New York Post I got published about the Pope.

Today 2/15/13 I got a letter published in the New York Post dealing with Pope's resignation and type person that should replace him.Here is the letter,"Now that Benedict will step down from the papacy,who fill the "Shoes of the Fisherman"?
A daunting task if there ever was one,for these are troubled times for the Catholic Church.We are in an age where cynicism is the norm and so many prey at the alter of materialism.
If the next pope can inspire both Catholics and non-Catholics to strive to be the best people we can be,to be kind and good and to seek the better angels of our nature,then indeed, those shoes will be filled."

Gary Schwartz
Fort Lee  

Is it against the law to export crude?

Is it against the law to export crude? That is what heard today on Bloomberg T.V from a Ms.Steel.If this correct then media must be shame of it's self for let politicians demigods  this issue by claiming crude from U.S.a is being exported.

Sam Tannenhaus is full of crap in his article in the New Republic.

Just saw Sam Tanenhaus on C-NBC and said the period from 1968 to 1988 was era of Republican domination in the elector spear and right about what but reason shows an elite liberal bias.He state dealt with fear and division,not true.After being minority party for many years the Republicans in sixties started coming with new ideas like Roth-Kemp tax cut.Also and this is what liberals Tanenhaus can not face toward the end sixties the public repudiated liberalism because the utopia they were promise turn out to be a nightmare,inflation social unrest the drug culture and on and on it goes.

Buffett is no fool in business.

When Warren Buffet brought a railroad he know what he was doing,for railroads today are great business,Why? Because fuel cost less with railroads then trucks and airplane are somewhat limited in what they can deliver and capacity.Also the number railroads are limit maybe 10,if that,for whole nation and region in nature.So like in Eastern United States only two railroads cover the whole region:Northern Southern and CSX.I particularly like CSX a buy for it's stock,Barron's this week as story on CSX.The stock is in my opinion undervalued,also article agrees with me because of ties to Coal Industrial,which under pressure because a cheap and plentiful Natural Gas and Obama government's war on coal.But article points out CSX is doing good job in cutting cost and growing other business beside Coal.I will also point out CSX,is very friendly shareholder company"it buys back stock,pays a good dividend and not that long ago had 3 to 1 split.
Last week on Bloomberg T.V Bruce Berkowitz(not to be confuse with the Son of Sam) recommended Bank of America as stock stated the up side it great.Curious David Tepper believe in Citigroup.Of Bank of America is domestic play Citigroup is international,by the way,I think both are under valued.

Some humor from President Wilson and the late Ed Koch

Last night I saw movie called Wilson(made in 1945) about President Woodrow Wilson.Didn't see much of the movie didn't think much it but President Wilson and I have something in common we both have dyslexia,well he had it he is long gone to the White House in the sky.
Wilson strike me and I think many many people as stein Presbyterian(indeed his father was Presbyterian minster) but Wilson had sense of humor.
I heard a story told by idiot,not really but in my opinion the worst governor in the state of New Jersey's history Brendan Byrne.While I don't think much of Brendan Byrne as Governor( for he introduce the state income tax) he is a man of great charm and writ,like so many of Irish.And he tells a story about Woodrow Wilson that is very amusing.When Wilson was Governor of New Jersey,he got phone about 3 in morning,the caller said," Judge Smith as die" Wilson reply,"oh,I'm very sad to hear that" then caller said," I'll like to replace him" Wilson then said," it's OK with me if it's OK with the undertaker." 
Three story from Ed Koch,from books he wrote:when he was distant leader in Greenwich Village,a constituent of his wanted the people living in apartment above throw out.So he went to Koch for want,Koch ask why? The constituent said he his got long hair.Koch stated lot a people have long hair today.Then the constituent said well he rides a motorcycle.Koch reply so what.Then constituent said,in the apartment? Koch said now your talking.
Second,when Koch was elected Mayor in 1977 Abe Beame's wife ask him if stay in Gracie Mansion.The conversation went like this:Mary Beame(Abe Beame's wife) said,Ed I wonder if we can stay a little longer at Gracie? Koch said,OK. Then Mrs.Beame ask Ed not to told Mr.Beame.In his book Koch found it curious that Mary Beame would call him Ed but her husband Mr.Beame.

David Einhorn wants a bite out of the Apple.

Tomorrow a northeastern is coming to town.One can feel it air and grey sky is sign of weather of sad souls we all become as we get old.Indeed,a storm is coming both in the weather and business,financial world for Mr.David Einhorn wants a bite out of the Apple.The Apple has been sweet fruit for investors,much money maybe too much and that's problem.For not that long ago survive of Apple was not question but had white knight of sorts-Mr.Steve Jobs.The once and future King Apple Steve Jobs,indeed,one two founders was booted out for grown ups but grown up lack imagination to ran a company of dreams.So Steve Jobs re-enters the flay and saves the day,but he doesn't in dividends,nor stock buy backs no it's all about product and marketing and cash.Oh yes,cash we all love cash,you know it's real money.But king is now dead and replaced by a Cook.And stock has began fall to earth so investor like Einhorn treat something to boost the stock,he suggest a perpetual preferred stock with dividend of 4 percent yield.Problem is as I see it,4 percent sounds good today but how in five years? You know inflation can appear and remember the late seventies and early eighties when the Prime rate was over 20 percent.And it could happen again Mr Einhorn seem to me a very young man with no sense of history-plus one shorts of late Green Mountain Coffee has double since the summer when it hit a low of 18 it's now 44.

Rush Limbaugh is a fool for wants Republicans to become the stupid party

We all know Rush Limbaugh has problems with his hearing,but I wish he heard wise words of  the Governor of Louisiana Bobby Jindal about Republican party being the stupid party. Rush lives dream world,or maybe doesn't about country anymore just his radio show.He attack Karl Rove for going candidates like Sharron Angle,Christine O'Donnell and Todd Akin.All losers,and with Ms.Angle and Mr.Akin not pleasure people both defeated electable conservatives and there candidates might cost us a conservative majority in Senate.So Rove is trying to do is booster conservative movement not hurt it-Limbaugh is doing opposite and I suspect he knows but doesn't care.And pushes this nonsense about establishment Republicans,like they are clones of liberal Democrats and that is simply a lie.Again Limbaugh knows it but he wants to feed red meat to yahoos who pay for grand lifestyle.
Yes,sometime the Tea Party gets it right,like do in with Marco Rubio and Texas even though the establishment candidate was very conservative the Tea Party candidate was better and Ted Cruz is superstar in making but Tea Party has back many bad candidates like Ms.Angle and that's OK but lack smarts and courage to admit to mistake and makes them foolish.
And  Limbaugh heritage it's self is pure establishment:yeah,he didn't do well in school,which only proves his smart guy;however,his family is full of high breed lawyer,indeed,his grandfather was our ambassador to India in Eisenhower administration and can't get more establishment then that!

Why did Bloomberg T.V not mention conflict of interest the government has in it's Standard and Poor's law suit?

Why did Bloomberg T.V not mention that Standard and Poor's is only rating agency that government is going after and it's only rating agency that downgraded U.S government debt.Conflict interest funny business it should been mention by Bloomberg T.V instead Stefanie Ruhle had big smile on her face and said something like Standard and Poor's are getting there just desserts.Of course,this same woman who said George Soros was side of angles,which must mean Ms.Ruhle is devil incarnate.Also her partner crime Erik Mr.Good looking thinks Paul Krugman is last word economics.And yesterday did story very favorable to Hugo Chavez.Bloomberg is one business network that seems to favor Communism over Capitalism.

Ed Koch R.I.P

Today was Ed Koch's funeral,he died the other day and today(2/4/13) I got letter to the editor published today in the New York Post about Koch.The letter states,"Mr. New York is no more.With the death of Koch,it's like we lost a part of history.
He was a complex man,bold and combative with a sense of mission and joy.
As strange as it sounds,in a way,he was New York's Ronald Reagan.
He changed the direction of New York politics from the philosophy of goodies for all,which almost bankrupts the city,to some sort of fiscal discipline.
And one could just imagine as Koch goes through those Pearly Gates and sees the Lord,Koch will ask "How 'm I doing?" And the Lord would say,"Just fine Ed."

I bet me comparing Koch to Reagan  drove the liberals crazy, but it's true both were hated by the Left,although you never know by the funeral.I mean Bill Clinton give eulogy they weren't close and think even Schumer got into act.Koch didn't like Schumer;after all,Schumer defeated his buddy Al D'Amato.And why didn't Al D'Amato give the eulogy maybe because of politics? Which is strange what made Koch so special is he wasn't afraid to endorse Republicans,indeed, he even endorse George W. Bush for President in 2004.Yet the funeral had none that it seems to be run by Democrats,many who detested him in his lifetime,for Democrats.

Super Bowls I remember but not because of the game

The first Super Bowl I remember was first super Bowl back in 1967.It was legendary Green Bay Packers with Paul Hornung(who was very horny fellow so I am told) Jim Taylor and Barr Starr,a great team but I was fan AFL so want Kansas City to win,but they got routed.I don't remember anything about game but do remember watching with my father at his apartment,in the Bronx on the Grand Course,where he live still was nice,in those days the Bronx was changing and not for better,the apartment was those very common to New York white brick,well kept.Growing up,my relationship with my father was appointment like,my parents divorce in 1959,it was bitter divorce,spur on by the fact they had nothing common except being Jewish and being good looking and think there must have been physical attraction but otherwise so different people, yes both were like very  little spoil children who if they didn't get there way would cause havoc and I pay the price.
I saw see my father every Sunday,until I was high school or maybe little before just few years after he marry Goldie.She polite to me,I never know what she thought of me,suspect not much but honestly I don't know.But still in 1967 Dad was still part life,however,very distance,only on Sunday would I see.Before Goldie we go to many events but she come about less sports and more movies.But Super Bowl I watch in his apartment with on good chair on T.V. But soon our relationship maybe two or three would disintegrate I don't know why? Maybe mother told I don't want see him.Which wasn't truth what didn't want is be pawn in there wars which I was I wish know my father better,I wish I could tell him I didn't think ill of him.
Second Super Bowl of remember the Jets upset win over Colts.I was big Jet fan but couldn't watch because it was Jerry Franks Bar Mitzvah.We fellow game by going to bathroom with transistor radios at hand.When the Jets win Bill Schaeffer said the people in New York will go crazy.Bill Schaeffer was the father of my best friend Larry Schaeffer.Bill had been born in orphanage,dirt poor join the marines,saw combat in World War Two then marry hot looking Lee they had three Larry,my best friend,his little brother bobby and little sister Amy.Bill was printer,also lost his hand in press but sheer will he refuse to let them cut and save his hand but couldn't save his marry.Lee left him move in judge from Bronx and no body lived happy after,Larry went into Army,died young,maybe murder over domestic disturb,Bobby mother wrote in 1978 he left college and floundering but didn't know what happened to him,Amy last heard again in 1978 move to London.
The other two Super Bowls I remember were when I was living in Texas:first one was in 1981.I was living with my cousin Larry Schwartz,who didn't like,he was gone.I didn't know were but in his apartment alone the radio was on and what great perform Jim Plunkett did a super star he wasn't except at super bowl.
Living with cousin almost cost my life,he lived bad area and robbed at gun point was by Feb. of 1982 moved out to nice place in Houston and year I went to Super Bowl party,the only one I been to in Spring Texas.Don't remember much except seem to take forever and S.F 49 win.

Was David Einhorn a liar or just wrong?

One most interesting stock to watch these days,is Green Mountain Coffee.Curiously,since stock has rebound from low last of 18 this summer to now 45 it has gone unnoticed not much media coverage,this wasn't story when stock was dropping like rock,in fall of 2011 it was over hundred then it drop last summer to under twenty.The main cause seem to be shorting by David Einhorn,plus there was federal investigation,which lead to resignation of the founder and remember watching Bloomberg T.V last summer and mention that Green Mountain Coffee was facing fierce competition and mention Einhorn saw this stock going even lower,indeed much lower the impression was this stock was headed for toilet.But it didn't happen,was Einhorn a liar or just wrong? As far as,I know Einhorn is an honest man,however,he does have something common with Madoff.Einhorn was interest in buying a piece of Met and apparently there had been some speculation about buy a part MET years ago,it does made you think(which usually leads to headaches.)
Perhaps the action in Green Mountain Coffee can explain by a book,written I think in 1841,"Extraordinary Popular Delusions and the Madness of Crowds" written by Charles Mackay.Now I have never read it but understanding is that states people act in packs,or maybe they follow crowd no matter foolish it can be,or in today's language group think.This book was sort of bible,to legacy investor and statesman Bernard Baruch.

The days of wine and roses are over.

The days of wine and roses are over,that was theme of a Inaugural speech of Hugh Carey,not to be confused with Drew Carey,now true Hugh was a politician so one can surmise he too was comedian but Carey was nonsense type fellow.In nineteen seventies he boldly took on the financial problems of day being stating there is no money in till services would cut.Today the day Ed Koch this fitting, of course, fight same fight.
Now great stories about from his books:one was when his was a district leader in Greenwich Village,by the way a seat he win from Carmine DeSapio(the last real Tammany Leader),a constituent
complain to Koch about his neighbor,want neighbor to throw out of apartment.Koch ask why? The
constituent said well his got long hair,Koch answered so what! Today lots of people have long hair.Then the constituent said,he rides a motorcycle.Koch said,so what then the constituent said in the apartment! Koch said,now your talking.Two,when Koch was elected mayor but Beame was still mayor,Mrs.Beame ask Koch if still in Grace Mansion a little longer.Koch said OK and wrote Mrs.Beame said to him,Ed please don't tell Mr.Beame.Koch wrote on imagine that she call me Ed and her husband Mr.Beame.