BP, Retail Investor, Liquidity, Clean Hands
Posted by admin in Finance Friday, 11 June 2010 08:22 28 Comments
I talk about the fate of the “retail investor” his fears and options in various asset classes. The retail investor does not stand much of a chance in this kind of environment as each option has some major pitfalls. We really need government operating with “clean hands” in that it takes an honest approach. In doing so it can have “honest” policies that can be constructive rather than destructive. Unclean hands, lying, leads to unintended negative consequences. I talk about the lies BP has been telling by introducing a new Gulf of Mexico fishing exclusion map.
@Peridolin Military can work with the contractors and engineers and the military will do what the contractors tell them, unlike the BP staff who seek only to salvage as much oil as they can and salvage their PR. We do need the gov’t and military to take over immediately.
They have been trying to top it off and have tried numerious methods of doing it, all having failed. They tried a 100 ton concrete containment dome, that didn’t work. They just tried pumping in mud/concrete/debris to plug the leak called “top kill.” It worked for a little while, then started leaking again. They’ve tried turning off the valve with robots, but were unsuccessful.
The only thing that’ll likely stop this leak is a bomb.
Okay, a) the government would be just as incompetant as BP in dealing with this,
b) before you start going apeshit on BP, can we at least find out what happened? BP probably spent $1billion+ developing this thing, (so I don’t blame them for trying to fix the well first), but do you really think that BP would spend that much money on a project like this and let the platform be built in such a way as to fail?
@Peridolin I will go along with that if you mean literally.
@Pablo905
If anything, the military should be holding a gun to BP’s head – so to speak – so that things move more quickly.
@Peridolin Actually the military when called upon have invented or developed a lot of the things we take as common place now. Everything from Velcro to nuclear power. The core of engineers are given next to impossible tasks to overcome on a regular basis. If we are serious about stopping this – crime against humanity – lets put all possible resources to work – was my point. I have little faith in the BP’s of this world to do anything but what is good for them.
@Peridolin
Ya, if you want to live anywhere that’s better than a cardboard box you have to pay. Still, I’d rather pay 100 bucks a month in property tax than 800 bucks a month for a condo payment, or 900 to rent. We can’t escape property tax but we can minimize them by living in a more modest home than we could otherwise afford. I was aghast at the prices of houses 11 years ago, so I decided to buy a comfortable working class condo rather than a house. Glad I did. It’s almost paid for now
@vention4wh
Unfortunately, if you fail to pay your property taxes, you’ll find out who really owns your home….. and it isn’t you.
@Pablo905
What does the military know about capping a leaking deep water oil pipe?
Nothing!
@neverfearchrisishere
*facepalm*
Put the crack pipe down and step slowly away from the table.
The reality is that this is a TINY oil spill. Far smaller than other spills. If it wasn’t off the coast of the USA you would never of heard about it. Most of this is just media hype
This is NOT the worst oil spill in the world this year.
@Airave Military dictatorships are usually disastrous. It’s best to let people fail and learn from their experiences.
Hows this… ill just sit on my ass and not do anything lol
Bless this man! Let honesty return!
One of your best presentations! Yes, the retail investor has to take massive risk no matter what! I take the option that has no counter-party risk.
There are systemic and structural problems with the US, from the top to the bottom. When you come to look at it from the outside – it has become a nation of thieves and crooks. I am sorry to say that – but it certainly appears to be so. I am not saying other countries are better, but the American cultural has certainly driven people to grap and hoard more for themselves. A nation that has lost its direction?
great video Warren!. The spin in this country is amazing. let the liquidation begin.
How about giving the job to the military, I am sure they would get it done a lot better and sooner then BP,
This spill is the biggest threat to America at this moment – not to mention everyone else on this planet who relies on clean water.- they have to stop it NOW!
I hope a million people show up at Starbucks for you.
Brovo to you Wepollock. Your videos are a breath of air. There are not too many people who can really see what is going on in this world. Many people that broadcast on the internet have no idea, but you got it.
AFBIX, Yen/USD, TLT, Bullion, Gold mining/exploration shares with no exposure to base metals.
I’ve been out of the market since early 2008. Since then I’ve put nearly all my extra money into the safest investment I can think of. That’s paying off my last debt (the mortgage) Every dollar of that debt that I pay off saves me 5.5% a year (guaranteed, tax free, and more than a savings account will pay). It’ll be paid off around September. I think owning your home with no debt is the greatest financial security you can have.
Once it’s paid I’ll buy physical metals or rural real estate.
Thanks and great job. If you want a real laugh, investigate volunteering for clean up efforts on the gulf coast. BP is exclusively controlling clean up efforts and mandating people attend their training programs. They are soliciting comercial fishing boats for clean-up work and require they sign a waver preventing legal actions (I suspect).
– keep up the good work.
You are the best……. Steve and Mary – oklahoma city, OK !
@jimbobubbadj People that stay in the stock market are feeding the beast.
These people who fear a loss of income have to downsize. If they are underwater with their home, they should stop paying the mortgage and save that money until the Sheriff tells them they have 24hrs. Also they should withdraw their money out of the stock market and use it to buy a downsized property even a mobile home on a small lot if need be. If they have a boat, atv, motorcycle, 50″ flatscreen, Et Al sell them. Trade the Mercedes for a Echo. Drop cable and get Netflix.
The oil spill is nothing to laugh at but I just saw a kid wearing a t-shirt that cracked me up. BP – We’re bring oil to America’s shores. I died laughing because BP’s billion dollar image change to their new sunflower logo is forever going to be associated with the worst environmental disaster to strike America. Check out the shirt here – http://bit.ly/bJAuTb
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