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Thread: Inauguration Day, Inauguration Hooooooraaay!

  1. #13001
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    Quote Originally Posted by Reid View Post
    It still doesn't help explain why a CEO would literally put their company in a worse financial place and endanger it long term just to finance a stock party.
    Because since the 1970s, executive compensation has switched from fundamentals performance to stock performance. It's literally the CEO's job to juice stock prices. It's what the board and shareholders pay them to do.

  2. #13002
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    It's easy to say "welp these idiot greedy CEOs are destroying their companies to boost stock prices in the short term, good riddance", but at the same time nobody wants to be the only CEO in the S&P 500 that isn't doing this. Even if you know the end is nigh, it's gonna be a lot easier to explain to your shareholders tomorrow that the company got brought down by a recession, than explain to them today why their stock is the worst performing one by orders of magnitude. Plus, if you think the US government will bail these companies out (which they absolutely will) then any companies that are buying back their own stock right now are going to be far ahead of the companies that aren't.

    So there are strong personal incentives for doing this, and even stronger disincentives against doing this, and it's not going to hurt anybody they care about (just retirees, taxpayers, and their own employees).

  3. #13003
    Quote Originally Posted by Jon`C View Post
    It’s always a delight to see how many different forms of expansionary monetary policy they can invent. They’re really quite creative.
    Perhaps, but they can't putt.

    Name:  Screenshot_2018-12-27 Donald J Trump on Twitter The only problem our economy has is the Fed They.png
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  4. #13004
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    what the **** is wrong with your libfreetype

  5. #13005
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    The federal reserve's job isn't to manage the stock market, employment, or trade. It's to keep CPI change between 0 and 3%.

  6. #13006
    Quote Originally Posted by Jon`C View Post
    what the **** is wrong with your libfreetype
    Probably something to do with the Xorg server rendering that Firefox window:

    Code:
    xpra attach ssh:$REMOTEHOST:$REMOTEDISPLAY --dpi=108
    Last edited by Reverend Jones; 12-27-2018 at 11:59 PM.

  7. #13007
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    Quote Originally Posted by Jon`C View Post
    Because since the 1970s, executive compensation has switched from fundamentals performance to stock performance. It's literally the CEO's job to juice stock prices. It's what the board and shareholders pay them to do.
    Burn it all down.

  8. #13008
    Quote Originally Posted by Jon`C View Post
    Because since the 1970s, executive compensation has switched from fundamentals performance to stock performance. It's literally the CEO's job to juice stock prices. It's what the board and shareholders pay them to do.
    Yeah but a CEO told me this isn't actually true so you must be wrong.
    sniff

  9. #13009
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    Quote Originally Posted by Spook View Post
    Yeah but a CEO told me this isn't actually true so you must be wrong.
    His company either isn’t publicly traded or he’s lying, and in the former case it’s his job to secure a big exit (i.e. juice the stock price with more steps).

    Chicago school economists aggressively boosted stock options based compensation through the 1980s and 1990s as a way to align the interests of the CEO with the shareholders: it gives them a huge incentive to keep the stock above the strike price. They convinced congress to give favorable tax treatment for stock options. Prior to 2005, American companies weren’t required to report them as an expense (GAAP) so it was also a handy way to take executive compensation off the books.

  10. #13010
    it was a she you sexist prick
    sniff

  11. #13011
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    Quote Originally Posted by Spook View Post
    it was a she you sexist prick
    Eh. It was a 96% chance. ¯\_(ツ)_/¯

  12. #13012
    finally, someone who could defeat Jon`C

  13. #13013
    Well that was a factual and satisfying wrap up to that joke, if I do say so myself.
    sniff

  14. #13014
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    The more I learn about WWII, the more I realize it's mistaught in America. Like, the Eastern Front was the real epicenter of the war. It's by far the more interesting part, too. You'd not really ever learn that in American education though.

    Also, JFC the Russians absolutely hated the Nazis. They were willing to work super hard because, like, the invading force is murdering your family and countrymen, and will enslave you. Gee, will you resist and fight?

    The Nazi war effort was so stupid from an ideological standpoint.

  15. #13015
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    Quote Originally Posted by Reid View Post
    Also, JFC the Russians absolutely hated the Nazis.
    Love the quotes of people trapped in Leningrad, stuff like 'we don't feel the cold, just burning hate for the Germans', 'nothing makes me jollier than German corpses'. Lol.

  16. #13016
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    The Nazis also painted themselves into a corner with the whole Jewish Bolshevism thing. They were doomed to fight the Soviet Union sooner or later. People make fun of Hitler today for starting a war on two fronts, but at the time the western front probably didn’t seem like much of one. The Nazis had occupied or allied with everybody in Western Europe and were routinely bombing London. It probably seemed like the sensible time to attack the Soviets.

    Weird how much effort and rhetoric the national socialists spent on obliterating socialism. If I didn’t know better I might think they weren’t socialists at all!

  17. #13017

    "Has it won yet?"

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    Could we be getting the first Native American president in 2020???
    SnailIracing:n(500tpostshpereline)pants
    -----------------------------@%

  18. #13018
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    I got really excited when they reported that Warren wants to increase worker ownership of companies. But then I read further and it turned out to be minority board representation, rather than sending tanks to seize the means of production.

    “Worker ownership of companies” is called socialism. Just so we’re clear.

  19. #13019
    I do believe I gleaned a news headline quoting Warren as having claimed to be "a capitalist to her bones", so...

  20. #13020
    I love how in an apparent move to embarrass Trump she felt it necessary to release genetic data that suggested she was less Native American than the average American. Then again, she probably is more Native American than Obama is Black American by ancestry.
    "I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16


  21. #13021
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    I’m glad our criticisms of Obama are relevant and internally consistent.

  22. #13022
    There was a criticism certain black people were making of him during his reign that he didn't have any slave blood so he didn't really count as the first African American president so if you had missed that you wouldn't have gotten the joke which I figured would be the case with probably everyone here. I figure his dad was African and his mom was American so he totally counts, more than most probably, as an African American.
    "I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16


  23. #13023
    I thought this was funny since we were talking about YouTube ads. Amazon thought I would be interested in this book:

    Click image for larger version. 

Name:	Screenshot_20190102-093224.jpg 
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    "I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16


  24. #13024
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    Quote Originally Posted by Wookie06 View Post
    There was a criticism certain black people were making of him during his reign that he didn't have any slave blood so he didn't really count as the first African American president so if you had missed that you wouldn't have gotten the joke which I figured would be the case with probably everyone here. I figure his dad was African and his mom was American so he totally counts, more than most probably, as an African American.
    I’m just not that worried about the purity of Obama’s bloodline, but you do you.

  25. #13025
    It's not that I am but everybody seems to be consumed by what race, gender, ethnicity, etc. everything is. There was some controversy that some bi chick wasn't bi enough or gay enough for some character she was playing in a DC comics show. I don't do that. Now, I don't mind pointing out that Obama doesn't really represent average black Americans but I really don't care because I don't obsess about this sort of thing. For all I know, we're somewhat similar with regards to our indifference on the matter.
    "I would rather claim to be an uneducated man than be mal-educated and claim to be otherwise." - Wookie 03:16


  26. #13026
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    We’re very similar except for the fact that I don’t know anything about the purity of Obama’s bloodline, I don’t bring those kinds of topics up in conversation, and I don’t suffer the kinds of people who do.

    I agree that it’s interesting how everything is being consumed by gender, race, etc.. Or at least it’s being consumed by people who complain about it. All of the leftists you actually talk to spend all of their time discussing economics. Normally someone might start to wonder whether we’re more representative of the left than the stories you’ve heard, but I’m sure they were very interesting stories indeed.

  27. #13027
    Quote Originally Posted by Wookie06 View Post
    It's not that I am but everybody seems to be consumed by what race, gender, ethnicity, etc. everything is. There was some controversy that some bi chick wasn't bi enough or gay enough for some character she was playing in a DC comics show. I don't do that. Now, I don't mind pointing out that Obama doesn't really represent average black Americans but I really don't care because I don't obsess about this sort of thing. For all I know, we're somewhat similar with regards to our indifference on the matter.
    I don't understand then why you don't support Trump, seeing that he seems to represent the average white American.

  28. #13028
    Wait a minute, what am I saying. Billionaire with bone spurs, he doesn't represent anyone. Remind me again why you guys tolerate this guy...

  29. #13029
    I am really at a loss for words here...

    https://www.macleans.ca/news/world/t...-single-quote/

  30. #13030
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    Apple

    Year EPS Equity Term Debt SRP (Total)
    2012 $6.31 $118B - -
    2013 $5.68 $124B $17B $23B
    2014 $6.45 $112B $29B $45B ($68B)
    2015 $9.22 $119B $56B $36B ($104B)
    2016 $8.31 $128B $79B $29B ($133B)
    2017 $9.21 $134B $104B $33B ($166B)
    2018 $11.91 $107B $103B $73B ($239B)

    Apple's stock falls despite rising earnings per share,

    Apple and the media: its because of china and cheap batteries!!
    Last edited by Jon`C; 01-06-2019 at 07:49 AM.

  31. #13031
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    As you can see above, Donald Trump's corporate suck-off was well spent.

  32. #13032
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    What's the real cause? Anything specifically Apple or just general market trends?

    Read today that Amazon has sold 100 million Alexa units. Is it just me or does this seem like an insanely high number?

  33. #13033
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    Quote Originally Posted by Reid View Post
    What's the real cause?
    Apple blew a third of their retained earnings on share repurchase during 2018 and barely paid down their debt, which currently accounts for half of the real (i.e. non-stock-bubble) value of the company. But that's why I'd be concerned. 66% of Apple's outstanding shares are held by institutional investors. They're morons, so who the **** knows.

    Anything specifically Apple or just general market trends?
    Yes and both.

  34. #13034
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    btw "retained earnings" means "money that's been reinvested". Retained earnings includes cash not returned to shareholders, new factories, buildings, acquisitions, etc. It's a lifetime total of money earned and reinvested in the company, but not returned to shareholders.

    i.e. This last year alone, Apple has spent a third of their net worth on share repurchase.

  35. #13035
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    Somewhere out there right now is some rich **** who's shorted the entire S&P 500. He doesn't know it yet, but he's gonna win Christian Bale an Oscar.

  36. #13036
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  37. #13037
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    https://www.vox.com/2019/1/7/1816695...shoag-ballance

    Five or six years ago, everyone from the US Chamber of Commerce to the Obama White House was talking about a “skills gap.”

    The theory here was that high unemployment reflected a structural shift in the labor market such that jobs were available, but workers simply didn’t have the right education or training for them. Harvard Business Review ran articles about this — including articles rebutting people who said the “skills gap” didn't exist — and big companies like Siemens ran paid sponsor content in the Atlantic explaining how to fix the skills gap.

    But nothing was really done to transform the American education system, and no enormous investment was made in retraining unemployed workers. And yet the unemployment rate kept steadily falling in 2013, 2014, 2015, and 2016 as continued low interest rates from the Federal Reserve let a demand-side recovery continue. Donald Trump became president, injected a bunch of new fiscal stimulus on both the spending and tax sides, and in 2017 and 2018 the unemployment rate kept falling and the labor force participation rate kept rising.

    Now along comes a new paper from Alicia Sasser Modestino, Daniel Shoag, and Joshua Ballance presented this week at the American Economics Association’s annual conference that shows the skeptics were right all along — employers responded to high unemployment by making their job descriptions more stringent. When unemployment went down thanks to the demand-side recovery, suddenly employers got more relaxed again.
    huh, so the skills gap was just capital hurting themselves and begging for a government handout, as usual? Who would have seen this coming?

  38. #13038
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    The jobs market lacks high skill workers, which is also why it lacks people working as plumbers and too many graduate from college.

    Oh sorry, it's that people are graduating from college in useless things, such as business and engineering. Why aren't colleges places where people pay money to receive training for the jobs I'm offering? I demand universities change so that they receive tax money and transform it directly into rents for me.

    American corporations can **** off. Everything about the way they're run is so ****ing obnoxious.

  39. #13039
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    The labor market lacks high skill workers [at the rate I want to pay], which is also why [I refuse to take on apprentices, and eventually] it lacks people working as [journeyman] plumbers and too many graduate from college [because working for me isn’t a viable career]. Gummet please subsidy and temporary foreign workers, thank.

  40. #13040
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    https://www.cnbc.com/2019/01/06/sear...iquidate-.html

    In other economics news, Sears (better known as Analog Amazon) is now destined for liquidation, after CEO Eddie Lampert's offer to buy Sears was rejected by shareholders. Now, some people might be asking whether Sears' progressive mismanagement by CEO Eddie Lampert had any connection with his desire to eventually make a lowball offer to buy the company. I can only assure you that there is no known evidence of this connection, and even if there were it wasn't illegal, and even if it was nobody will prosecute it.

    I hope this happens to Real Amazon a lot quicker than 126 years.

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