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@Brendan @goldfinger are you sure sp futures halt til tomorrow if it's limit down? I think it's only an hour or so... if I remember june 23 correctly?
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@Brendan not that we're near that...
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@Brendan lol @allan 70% of voters are white men?
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@Brendan you don't have to do math of any kind at work do you?
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@Brendan pretty hateful stuff coming out of the "peace and love" crowd
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@Brendan @goldfinger sp futures trading again
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@Goldfinger @Brendan interesting, everything said halted until market open tomorrow.
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@Brendan it was hard to follow that FAQ I just recall that the first limit doesn't end trading until the next session
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@Brendan it's lower quality, @nick but I got some $azm.ax tonight. also nice call on those coal picks ;)
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@Nick @Brendan cheers mate, $PNL.AX has done exceedingly well, highly suggest people look into who was just brought in as CEO over there (Todd Hannigan) - thermal coal will boom in the USA also so $PNL.AX as a low cost developer should be further de-risked. BFS is due out any week now!
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@Brendan decent spot for a reversal around here. long a few gold and silver contracts
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@Nick Looks interesting for a punt @Brendan that's for sure
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@Brendan Gundlach a trump fan and voter @highheat
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@Brendan @billionaire cutting tax rates benefits everyone whose rate is cut not just the rich. also what is your assumption about what the "intention" is. The intention is to be more fair and let people who make money have the money, in line with the Declaration of Independence of this country - that people are allowed to pursue life liberty and property without interference from governments hostile to those ideals.
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@bullionaire @brendan http://money.cnn.com/2015/06/15/news/economy/trickle-down-theory-wrong-imf/ My thoughts are on the potential for trickle down economics... Let you read the article.
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@Brendan @billionaire that article did not mention "tax" anywhere. it says that in societies where income accrues more to the wealthy, there are more societal problems, lower education for all, lower gdp, etc. can't say I disagree. society is better when everyone makes more money. incidentally, wealth inequality has increased sharply here under the Obama administration
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@bullionaire @brendan Agreed, but that the idea that LOWER taxes are going to create a windfall of benefits in the economy not proven to be so valid.
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@Brendan fine. what does that have to do with taxes? in general, higher growing, more wealthy countries have lower taxes / regulations
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@bullionaire @brendan Canada has much lower corporate taxes than the USA, so dont think you can draw that conclusion everytime.
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@Brendan the overall tax burden is lower here though
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@bullionaire @brendan I do agree with you on the regulations 100 percent.
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@bullionaire @brendan Yet in the USA< we are much better off??? in terms of employment, growth and prospects.??
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@Brendan I have a thing about reading Jo Stiglitz material sorry. that guy says he "called it" no matter what happened
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@bullionaire @brendan I agree with if you give tax breaks it sure better benefit your country.. Thats all... My point is, I agree with free enterprise, totally. But, i dont believe that how we are being governed..
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@Brendan the boom here in the 1980s was the last good one we've had, (sustained 6% gdp) better than the 1990s in. The tax cuts in 1981 were massive, bigger than the ones trump is talking about
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@Brendan drop in tax rates or interest rates?
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@Brendan OK I 'm fine with that. I would just say I would bias starting from 0 and begrudgingly moving up, whereas liberals would start at 100% and reluctantly move down. :)
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@Brendan @kjm mnuchin never worked in politics lobbying etc before trump. he was a banker and film producer. also... he bought a bankrupt bank out of receivership in 2009. is that "profiting from the housing meltdown"? I guess I profited from the commodities meltdown then by buying distressed miners earlier this year. how scandalous!
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@kjm @Brendan he's a GS alumni and also headed Soros's fund for a year. Not judging him but definitely swamp wouldn't you say.
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@Brendan No he has not background or experience in politics at all. That's how I interpret swamp is people living in the beltway making money off DC business - benefiting from public office or policy - dem or rep or both. I don't consider bankers as swamp things. I don't consider Soros swamp either. Incidentally, I would rather someone who "benefited from the housing collapse" than someone who never saw it coming and got blindsided by it. Who would you rather have in charge of money - John Paulson or Dick Fuld?
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@Brendan OK I mean if you're being sued by the government what are the chances you're a government insider swamp thing?
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@MiningBookGuy @FundamentalAnalysis - lol, so I'm glad you mentioned this as you reminded me of the movie! @brendan had mentioned it back in october: https://ceo.ca/@brendan?b49a824ed621 I forgot to write back to him, but did check out the first 20 minutes of the film on netflix in the US. it does seem very interesting! i'll need to finish it up soon (been traveling so made it more difficult). i wanted to ask @thenextbigrush about it since it's in #brazil, and i'm also wondering about historical accuracy, AND comparisons to the new 'Gold' movie coming out! Lots of interesting points related to this. I'll just add some tags for now, and maybe I can finish watching it soon. #SerraPelada #BaldMountain #Brazil #goldrush #artisanalmining #movies
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@Brendan highs for the year? what are the odds you guys will give me to bet that this isn't the high for the year?
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@HRA-Coffin Umm...this is a chatroom @Brendan. What will be bet, pixels?
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@Goldfinger @Brendan Give me 15-1 odds and i'll bet that WTI front month futures does not have a weekly close above $55.25 for the remainder of 2017. $oil
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@Brendan people have placed money bets via this chat @HRA-Coffin
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@Brendan 15-1 doesn't sound like you have much conviction that the odds are good we made high of the year
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@Brendan how much can you offer me a subscription to the financial times for @nlepan ?
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@Brendan lots of bait and switch going on or... all hat no cattle
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@Brendan of the majors? sibanye $sbgl
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@Brendan they are trying to buy Stillwater too which makes absolutely no sense
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@Brendan $pru fairly oversold
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@Brendan @starfire I am one of those people I guess. if you want to understand I can explain I guess but I think it's hopeless cause your mind is made up. all I can tell you is that at a high enough tax rate, I stop working.
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anonymous @BRENDAn Don't tell zuckerberg or Buffett. They would have stopped working a long time ago. Refer to laffer curve.
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@StarFire @Brendan no I'm open minded and would like to hear if you like to share, and I'm not talking communism here, but the idea is that in America especially, corporations rarely pay tax as it is, even if the rate is what 38% ? The effective rate is much less. While I'm stuck on the share buyback thing, if anyone looks the figures are staggering...so I'm saying its not high tax rates which is stopping buybacks, but it's high taxes which is stopping job creation? It doesn't matter, in 10 years they'll be no jobs in anyway it's all going to be robots running America...basically high or low tax, this ship is sinking unless you own $silver and $gold
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@Brendan @StarFire buybacks and corporate rates is beyond me. If there are loopholes to get around paying the corporate tax fine. I think it would be better just to have a low rate and not loopholes. From an individual perspective though I can tell you if rates were lower, I would work more. I think taxes are best when they are a minor nuisance not something that devotes the lion's share of my time and effort. I think the obsession with "fair share" has become pathological and unhealthy. I don't think the point of taxes should be to maximize money for the government. I think it should be enough for them to do their job with he least amount taken away from people.
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@Brendan 50 I guess. but it's still extortionate at far lower rates
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@Brendan anon you think it's easier to pay no tax if you make a million a year than if you make nothing?
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@Brendan what does incorporating do if you don't have expenses?
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