139 karma · joined November 22, 2016
We know the air is unfit to breathe and our food is unfit to eat. And we sit watching our TVs while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that's the way it's supposed to be!
We all know things are bad -- worse than bad -- they're crazy.
It's like everything everywhere is going crazy, so we don't go out any more. We sit in the house, and slowly the world we're living in is getting smaller, and all we say is, "Please, at least leave us alone in our living rooms. Let me have my toaster and my TV and my steel-belted radials, and I won't say anything. Just leave us alone."
Well, I'm not going to leave you alone.
I want you to get mad!
I don't want you to protest. I don't want you to riot. I don't want you to write to your Congressman, because I wouldn't know what to tell you to write. I don't know what to do about the depression and the inflation and the Russians and the crime in the street.
All I know is that first, you've got to get mad.
You've gotta say, "I'm a human being, goddammit! My life has value!"
So, I want you to get up now. I want all of you to get up out of your chairs. I want you to get up right now and go to the window, open it, and stick your head out and yell: "I'm as mad as hell, and I'm not going to take this anymore!!"
There are many many perpetual bonds still being issued today however they tend to be 'callable' at the option of the issuer ...most after 5/10/30 years, if they aren't called then they maybe called on the same date every 5yrs or so (so I don't really count them as they aren't really 'forever'.
Oxford and Cambridge Universities in the UK have recently issued 100 year 'Century' bonds in GBP. Thats the longest i've seen recently (I cover EUR/GBP bond markets at work)
Monocle - Really a general affairs magazine particularly focussed on Urban design, travel, technology, business and current affairs. Global editing staff. Produce some nice podcasts as well.
Courier - Startup focussed in the UK but i find it generally informative and attractive style to it.
Has so many great features and i'm not sure of any alternatives that gets even close what calibre can do.
-divert funding to sustainable and productive industries which would further reduce Australian carbon emissions
-create commercial opportunities in exportable industries that would have positive impact on GDP and net exports.
There is nothing inherently wrong with performing stock buybacks, from a cashflow perspective it is equivalent of paying a dividend, in fact it can be prudent from a tax perspective. You did imply that it is a continuous process when you suggested:
> when the money runs out, the buybacks stop
Performing a stock buyback based off the proceeds of debt in a down market makes perfect sense actually because you can significantly reduce your cost of capital if you believe your future cashflow will be strong enough to continue making coupon payments. You can issue debt at say 3.5% and buy out shares that require 7% cost of capital and as long as interest rate and credit risk don't drastically deteriorate significantly increase the value of your company from a simple capital markets operation.
Grit by Duckworth is probably the worst example of this. Overhyped trollop