spiderjohn
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Mar 7, 2023 21:59:41 GMT -5
Post by spiderjohn on Mar 7, 2023 21:59:41 GMT -5
We probably know most of the answers, Hooper. Unfortunately "answers" can't fix what has happened.
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1hooper
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Mar 12, 2023 9:56:25 GMT -5
Post by 1hooper on Mar 12, 2023 9:56:25 GMT -5
Follow the money. www.cnn.com/2023/03/12/homes/norfolk-southern-east-palestine-home-values/index.htmlWith a population of about 5,000 people, there are roughly 2,600 residential properties in East Palestine according to Attom, a property data provider. The average value of a property there in January of this year, prior to the derailment, was $146,000, according to Attom. Taken together, the value of all residential real estate in the town adds up to about $380 million, including single family homes and multi-family properties. Those values are only a fraction of the money that Norfolk Southern earns. Last year it reported a record operating income of $4.8 billion, and a net income of $3.3 billion, up about 9% from a year earlier. It had $456 million in cash on hand on its books as of December 31. It’s been returning much of that profit to shareholders, repurchasing $3.1 billion in shares last year and spending $1.2 billion on dividends. And it announced a 9% increase in dividends just days before the accident. A year ago its board approved a $10 billion share repurchase plan, and it had the authority to buy $7.5 billion of that remaining on the plan as of December 31. And the company also invests a great deal of money in lobbying, spending $1.8 billion on lobbying in 2022, according to OpenSecrets.org, which tracks lobbying and political contributions expenditures.
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Mar 12, 2023 11:00:38 GMT -5
Post by cherokeescot on Mar 12, 2023 11:00:38 GMT -5
How can you spend $1.8 billion on lobbying 😳
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1hooper
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Mar 12, 2023 11:09:10 GMT -5
Post by 1hooper on Mar 12, 2023 11:09:10 GMT -5
Decimal point error?
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docd
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"Faster horses, younger women, older whiskey, and more money." -Tom T Hall
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Mar 12, 2023 11:33:23 GMT -5
Post by docd on Mar 12, 2023 11:33:23 GMT -5
How can you spend $1.8 billion on lobbying 😳 A lot of mouths to feed.
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Mar 12, 2023 11:45:06 GMT -5
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Post by cherokeescot on Mar 12, 2023 11:45:06 GMT -5
The whole system is corrupt
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Mar 12, 2023 14:48:52 GMT -5
Post by merasmag on Mar 12, 2023 14:48:52 GMT -5
How can you spend $1.8 billion on lobbying 😳 ask jeffery epstein...oh wait...u can't
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Toxic
Mar 12, 2023 14:59:24 GMT -5
Post by cherokeescot on Mar 12, 2023 14:59:24 GMT -5
As we often say down here one side is as bad as the other
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Mar 12, 2023 15:06:57 GMT -5
Post by cherokeescot on Mar 12, 2023 15:06:57 GMT -5
Twenty six out of the thirty five lobbyists employed by Norfolk Southern formerly had jobs in government. It’s the gift that keeps on giving. I have to laugh when I hear Americans talk about widespread corruption in “third world “ countries. The only difference is here we call it “lobbying”.
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Mar 12, 2023 15:21:35 GMT -5
Post by spankyupinclass on Mar 12, 2023 15:21:35 GMT -5
Are you not an American Mr. Hendry? Duel Citizenship?
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Mar 12, 2023 18:22:55 GMT -5
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Post by cherokeescot on Mar 12, 2023 18:22:55 GMT -5
Touché, Spanky . I should of course have said “ other Americans” .
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spiderjohn
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Mar 13, 2023 14:34:17 GMT -5
Post by spiderjohn on Mar 13, 2023 14:34:17 GMT -5
screwed up the edit....see post below
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Mar 13, 2023 15:00:24 GMT -5
Post by spankyupinclass on Mar 13, 2023 15:00:24 GMT -5
I don't even have a banking account so I don.t pay much attention to the financial market but while the right blames everything on the left I remain a man who doesn't wear tailored suits.I buy off the rack. I will be seeing a couple of millionaire buddies for drinks and I'm sure they will have plenty to say...
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Toxic
Mar 13, 2023 15:53:29 GMT -5
Post by merasmag on Mar 13, 2023 15:53:29 GMT -5
of course i buy a bond for the first time ever...
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spiderjohn
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Mar 13, 2023 16:41:07 GMT -5
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Post by spiderjohn on Mar 13, 2023 16:41:07 GMT -5
We can take a detour to the current bank failures....seems Uncle Joe has just federally institutionalized the US banking network, guaranteeing ALL deposits in underwater bad business banks, and promising that NO taxpayer $$ will be involved(does HE or ANYONE honestly believe that?). An immediate bailout for Silicon Valley billionares and tech startups that seriously fund the Dem machine, while tough luck for East Palestine and similar residents(we can assume the Dem wealthy donors and blue state risky banks take precedence over life-threatening environmental situations). Profitability over stability. Also interesting..... top level bank owners/personel sold their stock over a week ago, and officers/employees were paid their 2022 bonuses last week prior to the insolvency announcement, A WEEK PRIOR TO WHEN IT WAS SCHEDULED(scheduled to happen this weekend). Used to be that banking was conservative and boring, with customer/bank financial security the primary concern. Now, risky investments and ?able sustaining methods are pretty much ok, and the door has been kicked open to "safeguard" failed financials and big investors. The Fed played a crushing role here. The rapid increase in interest rates had left banks holding bonds with much lower rate of return. This caused those bonds to be considerably undervalued when the need came to market them for vital liquidity. Other thoughts? Opinions?
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1hooper
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Mar 13, 2023 18:46:23 GMT -5
Post by 1hooper on Mar 13, 2023 18:46:23 GMT -5
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spiderjohn
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Mar 14, 2023 7:27:11 GMT -5
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Post by spiderjohn on Mar 14, 2023 7:27:11 GMT -5
Silly?
NO POLITICS AND Congress accelerated a troubling situation created by Obama back in 2008 when the bigger banking collapse occurred. This put the interests of the risky banks and the wealthy in front of the taxpayers.
Then maybe read Barron’s latest article on the inverted interest yield curve—-an indication of what was to come. Factor in the Fed’s rapid and steep rate increases to right and slow the economy(which haven’t worked so far).
Afterwards, project results from NO POLITICS’s potentially dangerous over-reaction to the situation , where the obsessive “woke” protections endanger basic economic and ordinary logic.
like Covid and climate, a perfect situation to create more govt control of business, economy and your $$/life. Then again, this is only my rationalization…….
Where am I wrong?
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1hooper
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Mar 14, 2023 8:29:13 GMT -5
Post by 1hooper on Mar 14, 2023 8:29:13 GMT -5
The financial crisis you refer to in 2008 was under the watch of George W Bush, who was in office from Jan 2001 to Jan 2009. There was less regulation for financials during those years just as now (Enron, mortgage lenders etc). My daughter worked for Lehman Bros when they went under so I followed it closely. As we discussed maybe a year ago (?), I (we) put money into cash and were waiting for buying opportunities. Everyone knew it was unsustainable when people were spending millions on digital art etc. Pulled the trigger on BAC and JP Morgan yesterday,9-10 P/E, will see long term. Large financial institutions need more regs not less in my opinion but we'll never agree on that. You think this a buy chance or too early?
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eye123
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Mar 14, 2023 8:38:46 GMT -5
Post by eye123 on Mar 14, 2023 8:38:46 GMT -5
2008(Bankers lending to unqualified buyers of homes..packaging those up(derivatives)..and selling those packages down the road…eventually downgraded when the buyers defaulted) ended up in massive losses.(past history) (cannot blame Obama for bankers becoming jealous of hedge fund managers profits) Which brought us bailouts(which frankly saved our butt…but the terms were way too generous to some receiving them) Which led to the Fed dropping interest rates to 1%...prompting us(the consumer) to spend, spend,spend. Which we have been doing for the last 15 years.
Here we are today. Gravy trains never go on forever. Inflation is in our face everyday. In almost everything we do. Fed trying to catch up. It’s going to hurt.(we have not even seen how bad yet) Most of the stimulus money is gone,yet the “consumer” still feels flush. (paper flush) Still money they are confident to spend. There will be a time when “they” are spent out.(but not before interest rates are raised further)(that’s when we feel the pain) Maybe by year end maybe not(who knows). Quien sabe.
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spiderjohn
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Mar 14, 2023 8:45:18 GMT -5
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Post by spiderjohn on Mar 14, 2023 8:45:18 GMT -5
YES on better banking regulations—NO on broad banking bail-outs that give govt more control of OUR $$.
With this probably the tip of some level of iceberg + the looming default and probable upcoming debt increase + increase in world-involved military conflicts, I am very selective in re-investing currently. I am strong in cash at this time( not due to any selling), and holding on to a lot of very attractive real estate(as my hedge to the market and $$ devaluations).
I can see treAding lightly back in to more good dividend blue chips, and maybe major banks on a dip. I am comfortable waiting around at this time. Not strong about anything other than replacing current government. We have been mislead about many things for far too long imo.
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1hooper
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Mar 14, 2023 10:42:21 GMT -5
Post by 1hooper on Mar 14, 2023 10:42:21 GMT -5
Stop orders.
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Mar 14, 2023 14:08:57 GMT -5
Post by spankyupinclass on Mar 14, 2023 14:08:57 GMT -5
Just curious spider. Does your knowledge of finances come from collage or just business experience or both. Hoop? As a guy who spent more time in Amarillo Slims pool hall instead of a classroom, I never graduated high school.Did get the kids through collage though...lol...The banking situation is here and will go away soon.Then the next finance crisis will come along...
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Toxic
Mar 14, 2023 14:37:34 GMT -5
Post by spankyupinclass on Mar 14, 2023 14:37:34 GMT -5
Bev, you say the whole system is corrupt but are we not part of the system? Please expand on your point sir. There are different forms of corruption. Financial. Political. Educational...
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Toxic
Mar 14, 2023 14:55:47 GMT -5
Post by cherokeescot on Mar 14, 2023 14:55:47 GMT -5
The UK where I am at present does not have the lobbying on such a massive scale as the US also political campaign costs are severely limited . In the US , all the politicians seem to do is raise money to be elected every few years . For a Congressman it’s just a continuing process. No wonder very little actually gets done .
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Toxic
Mar 14, 2023 16:47:37 GMT -5
Post by spankyupinclass on Mar 14, 2023 16:47:37 GMT -5
Russia has downed a US drone over the Black Sea reportedly. It's about to get real (perhaps). That may be why incumbent is hard to beat I suppose Bev... `Do you have a law degree Bev?
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Toxic
Mar 14, 2023 19:36:57 GMT -5
Post by merasmag on Mar 14, 2023 19:36:57 GMT -5
does any1 else luv the show "american auto"?
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Mar 14, 2023 19:39:43 GMT -5
Post by merasmag on Mar 14, 2023 19:39:43 GMT -5
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Mar 14, 2023 19:40:43 GMT -5
Post by merasmag on Mar 14, 2023 19:40:43 GMT -5
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Mar 14, 2023 19:42:27 GMT -5
Post by merasmag on Mar 14, 2023 19:42:27 GMT -5
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Mar 15, 2023 1:24:46 GMT -5
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Post by cherokeescot on Mar 15, 2023 1:24:46 GMT -5
Russia has downed a US drone over the Black Sea reportedly. It's about to get real (perhaps). That may be why incumbent is hard to beat I suppose Bev... `Do you have a law degree Bev? Spanky , I do not have a law degree but I did stay at a Holiday Inn Express last night 😉
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