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19876 [lbo-talk] stock valuation without dividends -- rank: 1000

Carrol Cox wrote: >Michael Pollak wrote: >> >> >> In theory it seems to make sense. In the reality the basic valuations and >> the P/E proportion that is considered reasonable both seem to be set by >> crowd behavior. > >Isn't this what Marx said about interest rates (C III)? Unlike >commodities (in Marx's TOV) the price of money is determined only by >supply and demand, and can fluxtuate without limit. Yup. Or as an old friend of mine who handled ...

Document Size:	5364
Author:	Doug Henwood
Date:	Tue Aug 9 17:05:38 PDT 2005

19877 [lbo-talk] stock valuation without dividends -- rank: 1000

Jim Devine wrote: >Why does gold have a positive value, even though it doesn't pay >dividends? A zero-dividend stock has positive value simply because >people think it will be more valuable in the future, i.e., pay with >capital gains. Gold does have the advantage of having been viewed as "real" money (however superstitiously) across time and space. Try that with Pets.com stock! Doug

Document Size:	5024
Author:	Doug Henwood
Date:	Tue Aug 9 16:45:59 PDT 2005

19878 [lbo-talk] stock valuation without dividends -- rank: 1000

Alex wrote: >Something I've never been able to figure out is how >stocks prices are supposed to be related to the >performance of the company. The only explanation I've >heard that makes any sense is that stocks are >essentially claims on future dividends and hence their >value is the discounted value of those future >dividends. It seems to me that there are several >problems with this explanation. CSenior is exaggerating when he says that you're 30 years out of date wi ...

Document Size:	5637
Author:	Doug Henwood
Date:	Tue Aug 9 16:21:47 PDT 2005

19879 [lbo-talk] Alex Cockburn on India: wrong? (was, U.N. seeks aid...) -- rank: 1000

Cseniornyc at aol.com wrote: >Dwayne Moroe writes:Indian reality is a vast, complex and >contradictory reality and I don't claim tobe an India expert. But >Cockburn is frequently one-sided and his claims are >exaggerations." >Comment; It seems that Alex Cockburn piece has shocked the neo-lib >soul inside Mr. Monroe. However, Mr. Monroe doesn't present >statistical evidence that shows Cockburn is "unbalanced" or wrong in >his view of India. Those aren't Dway ...

Document Size:	5527
Author:	Doug Henwood
Date:	Tue Aug 9 16:06:05 PDT 2005

19880 [lbo-talk] Re:cockburn's "false" take on india -- rank: 1000

frank scott wrote: >give cockburn a break, and maybe check your own bias: should he have >only spoken to the new yuppie class? Is it an either/or thing? If you're trying to do more than parachute journalism in a country of a billion people you should try to talk to one partisan political economist. Doug

Document Size:	5021
Author:	Doug Henwood
Date:	Tue Aug 9 15:37:03 PDT 2005

19881 [lbo-talk] speaking of productivity etc -- rank: 1000

DAILY FINANCIAL MARKET COMMENT 8/9/05 Goldman Sachs Economics * The second quarter productivity report was confusing. On one hand, for the most recent quarter, productivity growth for the nonfarm business sector was higher and unit labor cost inflation lower than expected. On the other hand, the year- over-year gain in unit labor cost inflation was the highest since the third quarter of 2000. * The disparity between the quarterly and year-over-year results for unit labor costs is due mainly to ...

Document Size:	6028
Author:	Doug Henwood
Date:	Tue Aug 9 15:08:39 PDT 2005

19882 [lbo-talk] FOMC kicks it up again -- rank: 1000

Mark S wrote: >I guess the Fed wasn't comforted by today's release of calmer >second-quarter gross compensation cost data (3.5% growth) implying >negative real compensation growth. Some analysts feel that the high >compensation growth rates of the previous three quarters (6.9%, >10.2%, 6.1% SAAR) were mainly due to bonuses and stock options. I >had assumed that health care expenses were the culprit... Both things are true - it ain't direct pay for the working class!

Document Size:	5088
Author:	Doug Henwood
Date:	Tue Aug 9 15:05:50 PDT 2005

19883 [lbo-talk] Ireland's latest on Iran -- rank: 1000

>From direland at nyc.rr.com Tue Aug 9 16:55:41 2005 From: "Doug Ireland" <direland at nyc.rr.com> To: "Doug Ireland" <direland at nyc.rr.com> Subject: Breaking News: Worldwide Protests Over Iran Teens' Hanging as New Reports from Inside Iran Question Validity of "Rape" Charge (DIRELAND) Date: Tue, 9 Aug 2005 16:55:14 -0400 New from DIRELAND, August 9, 2005 http://direland.typepad.com/direland/2005/08/worldwide_prote.html WORLDWIDE PROTESTS OVER IRAN ...

Document Size:	5960
Author:	Doug Henwood
Date:	Tue Aug 9 14:12:47 PDT 2005

19884 [lbo-talk] U.N. seeks aid for war-ruined Iraq seed sector -- rank: 1000

Jim Devine wrote: >Chris: > > You know, I just realized I can't think of _any_ > > prominent Western left-wing writers who have even > > visited Russia > >send me the money and I'll be on the next plane. Me too.

Document Size:	4972
Author:	Doug Henwood
Date:	Tue Aug 9 12:40:52 PDT 2005

19885 [lbo-talk] Alex Cockburn on India: wrong? (was, U.N. seeks aid...) -- rank: 1000

Dwayne Monroe wrote: >Cockburn aside, I wonder if any travelogue so structured, assuming accuracy, >would have seemed satisfactory? Well, I could imagine a visit to NYC that reported on the swells of Fifth Ave, and only a few blocks away, the poverty of East Harlem. And then in the East 80s, the yuppie dorms. You could do it all on foot in an hour or two. Doug

Document Size:	5149
Author:	Doug Henwood
Date:	Tue Aug 9 12:39:29 PDT 2005

19886 [lbo-talk] U.N. seeks aid for war-ruined Iraq seed sector -- rank: 1000

Chris Doss wrote: >I have a grudge because I believed them before I moved >here and found out to my shock that Moscow was not >chock full of poor people (pensioners excepted -- as >I've mentioned before, Russia's poor are those >dependent on the state for money, because the state >lacks money due to the massive tax evasion). What's happening outside of Moscow? Doug

Document Size:	5162
Author:	Doug Henwood
Date:	Tue Aug 9 12:22:24 PDT 2005

19887 [lbo-talk] FOMC kicks it up again -- rank: 1000

[not much surprise here...] <http://www.federalreserve.gov/boarddocs/press/monetary/2005/20050809/default.htm> Release Date: August 9, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3-1/2 percent. The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to eco ...

Document Size:	6581
Author:	Doug Henwood
Date:	Tue Aug 9 11:35:47 PDT 2005

19888 [lbo-talk] factchecking the gay Iranian teens story -- rank: 1000

[since I spread around Doug Ireland's first report on this, I should circulate this corrective] <http://www.thenation.com/doc.mhtml?i=20050815&s=kim> Witnesses to an Execution by Richard Kim On July 19 in the northeastern city of Mashhad, Iran, two teenagers, Ayaz Marhoni and Mahmoud Asgari, were put to death for a crime involving homosexual intercourse. Asgari, at least, was underage at the time of the offense. Before the execution Marhoni and Asgari were detained for approximately fo ...

Document Size:	32522
Author:	Doug Henwood
Date:	Tue Aug 9 10:09:14 PDT 2005

19889 [lbo-talk] Bush approval sinking -- rank: 1000

In the Gallup/USA Today poll in October 2001, 60% of the public "strongly approved" of Bush, and 5% "strongly disapproved" - a gap of +55%. That narrowed to 39/31 in November 2004, a gap of +8%. In the latest reading, it's 25/38, a gap of -13%. Doug

Document Size:	4812
Author:	Doug Henwood
Date:	Tue Aug 9 07:39:33 PDT 2005

19890 [lbo-talk] FCC hires indecency freak -- rank: 1000

FCC HIRES CONSERVATIVE INDECENCY CRITIC The Federal Communications Commission has hired as an advisor an anti-pornography activist and former lobbyist for groups that push for Christian precepts in public policy. The move may herald a reinvigorated campaign against broadcast indecency and bring renewed pressure on cable to reconsider its racy offerings. Penny Nance, until recently a board member of Concerned Women for America, is working as a special advisor in the FCC's Office of Strategic Plan ...

Document Size:	7393
Author:	Doug Henwood
Date:	Tue Aug 9 07:25:57 PDT 2005