Peter Johnson

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Everything posted by Peter Johnson

  1. Jesus' Tax

    What hopeful audacity to conflate and package-deal* those two distinct principles! — * See also the entries under "Anti-Concepts" for more information about what package dealing seeks to accomplish.
  2. Theory of Elementary Waves

    Did Dr. Speicher actually write that their funding comes with strings attached? (Yes, it did take me more than 6 years to think of that clever response. ) Sadly, Dr. Speicher is no longer around to appreciate it... Nor to ban me for it! Hey! No objections from the peanut gallery on whether "clever" is an apt description.
  3. Theory of Elementary Waves

    Oh, Paul, I think it would all be happening too fast for your human eye to perceive. Sorry.
  4. “Taylor Wilson always dreamed of creating a star. Now he’s become one.” “...[H]e would build a reactor that could hurl atoms together in a 500-million-degree plasma core—becoming, at 14, the youngest individual on Earth to achieve nuclear fusion.”
  5. THE OUTCASTS now in print!

    Congratulations, Bill!
  6. The National Post of Toronto published an excerpt of THE FORUM expert Richard Salsman's article "Sovereign Debt Turmoil: Political Causes and Investment Consequences". The full article is probably available to his clients. If the link above does not work for you, try searching the Post's website for the name Richard Salsman.
  7. Antanaclasis

    My favorite, and the only one to come to mind immediately, is from American history. Benjamin Franklin, upon the signing of the Declaration of Independence, and knowing that the document would be viewed by Britain as high treason, said, "We must, indeed, all hang together, or assuredly we shall all hang separately." To quip at the thought of such dire consequences is breathtaking audacity!
  8. Happy Birthday to Peter Johnson

    Thanks, Betsy! I am trying to make last-minute arrangements to attend part of OCON. Are you going?
  9. Jokes

    Did you hear about the superintendant of schools who quit his job? He gave up his principals.
  10. Salsman on “The deflation myth”

    On Thursday, November 11, 2010, the National Post (Toronto) published another opinion piece by THE FORUM expert Richard M. Salsman. "Falling prices aren't necessarily bearish for jobs, profits or growth." For those browsing using mobile devices or with limited Internet speeds, I also include a mobile version. Long-time readers of Mr. Salsman will recognize his established concept of deflation (distinct from the way it is used in even respectable financial news media) as an increase in the gold content of a currency, as well as a mention of U.S. growth rates during the Roaring Twenties, and that actual deflation is bullish for prices of stocks and bonds. However, Mr. Salsman has provided some new information about economic growth rates and inflation rates in the U.S. and various other countries in the decades between the U.S. Civil War and the First World War.
  11. Happy Birthday to Peter Johnson

    Thanks, Betsy! I'm happy to have the cake, even if I can't eat it too! P.S. I just received confirmation of my registration for OCON in Boston. I wonder who else is going.
  12. From another Economics thread, “Salsman on how Obama's Plans Will 'Work': To Breed Servile Dependence”:
  13. On Tuesday, February 24, 2009, the National Post (Toronto) published another opinion piece by THE FORUM expert Richard M. Salsman. For those browsing using mobile devices or with limited Internet speeds, I also include a link to the mobile version of the piece.
  14. Pursuing a similar career

    From 1996 through 2008, I was employed at a Canadian mutual-fund firm in Toronto. My experience there was in private-client database administration, management reporting, variable compensation tracking, and database marketing. (My friends and family think that I'm responsible for all the junk mail they receive; I prefer to think of myself as doing everything I can to limit people's junk mail to offers that might at least remotely interest them. ) However, for the last year I have been consulting at Bell Mobility, the cellular subsidiary of Bell Canada. (The name of the parent, BCE Inc. (NYSE:BCE), might be familiar to those who follow mergers and acquisitions as being the largest leveraged buyout in the world when initiated in 2007, but, after being postponed several times, was ultimately cancelled in December 2008 due to the continuing problems in credit markets.) Anyway, a "permanent"* position arose before Christmas due to someone leaving to start a small business, so I applied for the vacancy. I recently accepted a job offer and start March 1. Both positions have been in database marketing. Although the financial services industry is my first choice because it is my first love, it is a relief to be employed in an industry that has been exceptionally resistant to the recession. Hooray for me! *I say "permanent" because Bell did, after all, lay off 3,000 people last year!
  15. Post-meltdown investing advice?

    Betsy, I took TruthSeeker to be referring to the probability of an at-the-money or out-of-the-money option ever being exercised over the whole period it exists--that is, the market value of the underlying stock changing to make the option in-the-money before it expires.TruthSeeker, is that what you meant?
  16. Grant's Interest Rate Observer

    Mr. Grant was interviewed on Business News Network (BNN) of Canada on November 3, 2008.
  17. On Thursday, December 4, 2008, the National Post (Toronto) published another opinion piece by THE FORUM expert Richard M. Salsman.
  18. Post-meltdown investing advice?

    Betsy, would you please explain how and why those odds are so?
  19. On Wednesday of last week, the National Post (Toronto) published yet another opinion piece by THE FORUM expert Richard M. Salsman. It was brief, so here it is in its entirety: The item did not draw my attention, being short and tucked in a corner of the paper; indeed, I thought it was a parenthetical addition to a longer article by another author. I got about halfway through the first sentence before I thought, "That's funny. This writer sounds like Salsman." Before I finished reading the first paragraph, I checked my premises.
  20. The National Post (Toronto) published yet another opinion piece yesterday by THE FORUM expert Richard M. Salsman.
  21. Last Friday, the National Post (Toronto) published yet another opinion piece today by THE FORUM expert Richard M. Salsman. Note that the paper printed a correction regarding the piece today:
  22. Salsman on “Seven years of bupkis”

    The National Post (Toronto) published yet another opinion piece today by THE FORUM expert Richard M. Salsman. Mr. Salsman argues that the S&P 500 is essentially flat over the last 7 years because of a dramatic depreciation (inflation) of the US dollar.
  23. The National Post (Toronto) published yet another opinion piece today by THE FORUM expert Richard Salsman. (Salsman explains in the piece that the word "quiddity" in the title "The quiddity on liquidity" means essence.) One of the things I had been wondering over the last few days was whether the central banks' recent creations of money would be inflationary. I had tentatively thought no: because the operations were being done as repurchase agreements with a short term, the commercial banks would have to buy back the securities from the central banks within a few days, thus quickly removing the money from circulation. Salsman says their actions are not that simple. Another thing he mentioned, which I had not previously heard, is that the Fed had announced that the only securities it would purchase were "mortgage-backed securities": the exact obligations that the market is trying to re-price lower to reflect their higher risk. (I had thought the Fed was limited to trading only government issues.) Salsman leads me to think that what is being represented in the media as a liquidity crunch limited to the short-term money market will indeed spread to the economy and capital markets. (Capital markets pertain to longer-term tradable securities, such as equity or debt maturing in more than 1 year, including investment-grade corporate bonds and junk bonds; money markets pertain to tradable debt that matures in a year or less, such as government treasury bills, bankers' acceptances, or "commercial paper", which is issued by private, non-bank companies.) Thankfully, the Bank of Canada (BoC) trades only in government securities not mortgage-backed securities; however, this morning the BoC announced that it was prepared to deal not only in debt of the Canadian government but also provincial-government debt. (Financial players in Canada regard provincial-government debt as being just as secure as federal-government debt because they believe that the federal government [taxpayers] would cover a provincial-government default.) The more I read, the more I see the credit crunch of the past week as not being a short-term phenomenon that will quickly be cleared up by the prospect of future economic growth.
  24. Saving work on posts

    Another way would be to compose it (while periodically saving) as a draft message using THE FORUM's personal-messaging system, then paste as Rose Lake suggests. That would allow you to use the same formatting and markup language as the message boards.(If the messaging system requires that a message be addressed to an extant member in order to save it as a draft message, then one could address the message to oneself. That way, if one ever actually sends it by accident, rather than just re-saving it, then at least it doesn't go to anyone else before one is ready for the world to see it!)