This was a crazy morning.
I got an email from a stranger, I guess a blog reader but I don't know, that hit on our President's wish that we shop more. Even my wife, who has learned to tune out 9 hours of daily stock market television heard that one. Would any staunch republicans agree that was a weird one?
A reader pointed out the India ETN (as opposed to ETF) started trading today with ticker INP. I knew this and forgot about it, the thing yesterday really does have me running three hours behind. I'll have more about this later but I am surprised to see energy has a 16% weight in the fund.
Lastly a lot of ETFs went ex-divided for some very big payouts today and it looks like most of the quote websites have not fully accounted for this yet.
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9 comments:
Roger, do you not remember that our very same President who issued that ridiculous tax rebate said the best thing that folks could do with it is spend it.
We are a stupid consumer nation. And trust me, I say that having MORE than done my part! If we ever become a fiscally responsible citizenry, then we should address this cultural inculcation to spend, spend, spend.
ROFL, I remember that check! We paid our car insurance with it, no joke.
Wow that was funny.
Bush has done loads of ridiculous things to be sure, but the tax cuts were not one of them.
The benefits of tax cuts wear off quickly. The deficits they leave last forever.
I knew a girl like that, but that's another story.
didn't we all know a girl like that once?
Tax cuts in the middle of a recession, to the extant that you can really tell, seem to have worked pretty well. One shot spending is not so bad. It is all the other spending increases, many of which are recurring expenses, that are problematic.
Jimmy Carter with his request, that everyone wear sweaters, is looking more and more prescient.
I agree with Russell - our government has a spending problem, not a revenue problem.
The conventional wisdom is higher tax rates = higher tax revenues. Unfortunately this theory isn't supported by the historical data.
Roger: Can you please highlight the differences bettwen an ETF and an Exchange Traded Note (like INP). Thanks for your time.
Government spending is the issue, not tax cuts. If tax cuts are non-renewed and other "revenue enhancements" (thank you , Bill Clinton, for your dictionary of misdirection)implemented, does anyone in their right mind think that the monies extorted will be used to pay down our debt? Of course not. It will be used to increase entitlement programs for a myriad number of special interest victim classes that are beholden to the Democratic Party.
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