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Comment: Re:I never have understood (Score 0) 263

by Citizen of Earth (#48665183) Attached to: Serious Economic Crisis Looms In Russia, China May Help

The U.S. started mortgaging its future during the Reagan era, but it was the two Bush presidencies that did the most damage.

Obama has run up more debt than all previous presidents in history COMBINED, including both Bushes, and he still has two more years to go. Do you have any criticism for him?

Comment: Re: Are renewable energy generators up to task ? (Score 1) 488

by Citizen of Earth (#48374545) Attached to: Denmark Faces a Tricky Transition To 100 Percent Renewable Energy
We don't have "better energy storage". And if we ever get it, it will cost many times what a conventional power plant would cost. So, instead of paying three times the cost (expensive solar power + backup conventional power), it will cost eight times as much as conventional power. Exactly how many future generations of taxpayers are you seeking to bankrupt? And if its cloudy or calm for too long, the storage empties and the lights go out.

Comment: CRTC misjudging its political power (Score 2) 184

by Citizen of Earth (#47975591) Attached to: Netflix Rejects Canadian Regulator Jurisdiction Over Online Video

Someone might want to inform the CRTC bureaucrats of the consequences of pissing off at least 4-million voters — election of the party that promises to rid us of the CRTC. (Really, this would be about 25% of the electorate assuming that each Canadian Netflix account corresponds to a household with 1.6 voters.)

Gouge us, go to war, waste tens of billions of dollars, the public doesn't care. But cut off our entertainment — it's torches-and-pitchforks time!

Comment: Re:IPO wasted nearly $10B (Score 1) 191

by Citizen of Earth (#47954737) Attached to: Why a Chinese Company Is the Biggest IPO Ever In the US

Who determines the IPO price? The underwriters.

My point is that it should be The Market that determines the IPO price(s), not the necessarily incompetent and corrupt Central Planners. You'd think these guys ever heard of a little thing called the Free Market and the regulators would have an obligation to ensure that a Free Market is provided to the public?

Comment: Re:why does the CRTC need this list? (Score 1) 324

by Citizen of Earth (#47952371) Attached to: Canadian Regulator Threatens To Impose New Netflix Regulation

So they get their "canadian content" that way.

Except that the simulcast material is *American* content. Its origin doesn't change just because it's been licensed by Canadian channels for broadcast in Canada. I haven't read the rules, but counting commercials as Can-Con would be pure lunacy. In fact, it would allow all Canadian channels to carry nothing but American content all of the time, defeating any pretense of Can-Con requirements actually existing.

Comment: IPO wasted nearly $10B (Score 5, Interesting) 191

by Citizen of Earth (#47951899) Attached to: Why a Chinese Company Is the Biggest IPO Ever In the US

The IPO also wasted nearly $10B considering that the issue price was $68 and it started trading at $95. I just can't understand the logic behind the IPO mechanism. The purpose of an IPO is to raise as much capital as possible for a company to enable it to grow. However, 41% of the IPO value didn't go to the company; it went to lottery-winning middle men who were given shares for $68 and immediately flipped them to the open market.

An IPO should operate like a Dutch auction, with company having a trading account loaded with all of the IPO shares and starting sale for at a high valuation like $200 and then ticking down 1% every minute that "too few" shares are sold. This maximizes the haul for the IPO company by not squandering billions of dollars on bank insiders.

I never cheated an honest man, only rascals. They wanted something for nothing. I gave them nothing for something. -- Joseph "Yellow Kid" Weil

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