Entries Tagged 'Investing' ↓

Word of the Day – Unicorn Money-Sinkholes

Several years ago we got an invitation to come to an investor’s meeting in a nearby city where a miniature golf course was to be opened.

We weren’t investors, but we wanted to see what an investor’s meeting was like. I’m a long-time fan of golf and miniature golf courses.

So, we walked into a small office space that was under construction to turn it into an indoor mini-golf and mini-race car track amusement place.

Only half the holes had been built, there was plywood and tools and paint cans galore sitting around. There was also food and drink on the tables in the front.

Lots of people were milling about and we met the woman who was the carpenter building the golf holes. She regaled us with her story of meeting the owner of the place at a party after losing her job.

Then the meeting began in the second-floor loft where the owner had an office. A whole lot of men went upstairs to listen to the owner’s pitch for their money.

We hung around for awhile, played a few holes and went home happy.

How Times Have Changed!

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Where Are THE MEDIA? We’re being ATTACKED!

Our Country is BEING ATTACKED!

By whom?  by Saudi Arabia and Russia. Have you heard anything about this? Other than that the U.S. oil producers have been driven into paying their customers to take their oil so they can avoid storage costs for it? Do you know what caused this glut on the market? Probably not!

In mid spring 2020 Saudi Arabia sent 20 oil tankers speeding towards the Gulf Coast of the U.S. They are planning to arrive in Texas and Louisiana in May in order to flood the oil market in the U.S. and drop prices of U.S. oil even further than today’s prices.

This in a time when streets in the country are filled with parked cars that are not going anywhere! Continue reading →

Congress – Wolves Guarding the Hen House!

Author’s note: It’s no surprise this week that the Financial Times ran an article titled “Republicans drop plan to gut ethics office after outcry“. Even Donald Trump sent a tweet rebuking them. Think our Congress doesn’t need guidance on ethics? Think again!

Protection of others or sheer hypocrisy?

If Mr. Trump was serious about cleaning up corruption in Washington DC, the first place he needs to start is with the US House of Representatives and the Senate.

In recent news, it was reported that Senators Bob Corker and Mark Warner made a bundle back in 2008. They made it off of Goldman Sachs’ subprime mortgage-based CDOs (collateralized debt obligations) called Abacus. Both Senators reported that they made millions of dollars from shorting the Abacus fund.

As is typical with the US government regulators, such as the SEC and Department of Justice, no CEO, top executives, or board members at Goldman were prosecuted for this notorious scam.

In fact no one was ever criminally prosecuted for actions in the Financial Crisis of 2008. Continue reading →