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Southern Copper Corp. Message Board

rogluther 144 posts  |  Last Activity: 19 hours ago Member since: Feb 5, 2007
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  • With Trump, Sanders , Cruze, Clinton, Yellen, the Economy and CDTI.

    We are witness to EXTREME dissatisfaction with our political system by the citizens of this country (and many others).

    Our economy and yes, the world economy, is not remotely as good (or stable) as we are being led to believe. Most are a "house of cards" built on debt and controlled by those who are owed that debt.

    The money changers (lenders) are desperately attempting to maintain their power and control of world economies and are fearful that they will lose their ability to appoint and/or control the leaders of many countries.

    The leader of the American banking consortium (the FED) is an empty pants suit and those who tell her what to do are making bad decisions. A comparison can be drawn to the empty suit in the oval office and the sorority sisters who provide him with most of his "advice."

    CDTI is two days away from potential disaster which is based on the same condition that impacts the rest of the world and most of citizens of this country ...... debt. If you think CDTI's situation is bad just wait and see what happens when the bankruptcies hit the energy sector in this country and their impact on the lenders who provided them with the money created out to "thin air" that fueled their speculation.

    Bottom line ...... IMHO we're in for some very interesting times and those who were NOT burdened by debt will come out of this "smelling like a rose" but only after seeing their portfolios take a hit.

  • rogluther by rogluther Feb 10, 2016 2:25 PM Flag

    Here's a VERY BASIC lesson in economics.

    There are ONLY FIVE WAYS to create a SUSTAINABLE improvement in the wealth of a county.

    Notice how the importance of these individual WAYS has changed significantly over time.

    They are:

    MINING …... which encompasses extracting things from the earth (oil, gas, iron ore, copper, etc.)
    And the big one …... MANUFACTURING

    Almost everything else just involves the shuffling papers or moving money from one hand to another and thereby does not create sustainable increased wealth. This should make one wonder about the wisdom of all those who tout a service economy.

    Please notice four of these FIVE WAYS involve the exploitation of natural resources and the fifth, MANUFACTURING, involves, to a significant degree, the conversion of those resources into products needed by a successful economy.

    Also notice the United States is BLESSED with the required natural resources while many countries with which we compete are not (Germany, Britain, France, Japan and even to a large degree China, etc). A possible exception is Russia ….. but they're not smart enough to exploit what they have.

    So …... ask yourself …. what are we doing wrong? The answers should be obvious.

  • Reply to

    Basic Economics

    by rogluther Feb 10, 2016 2:25 PM
    rogluther rogluther Feb 11, 2016 9:39 AM Flag

    Everything you say and much much more, is true regarding problems impacting our economy.

    For the sake of brevity, I'd like to concentrate on a FEW important impediments that impact domestic Manufacturing ..... the currently most important or the FIVE WAYS..

    It's obvious that our Manufacturing base has been significantly ALLOWED to erode with the primary reason being lower labor and product costs outside the U.S.. Let's first recognize that once the U.S. Manufacturing base satisfies demand within our country then the need to export becomes vital.

    At the risk of sounding like an idiot ..... or Donald Trump, our trade deals worldwide do not generally favor the U.S.. Try to export to China or Japan and see what happens with regard tariffs or required joint manufacturing deals, etc.. So, the first thing we need to do is treat our trading partners EXACTLY as they treat us. Additionally, we need to lift the yoke of "excessive regulation" from the necks of domestic manufacturers and make our business tax laws SIMPLE competitive with others. We should strictly enforce and streamline existing laws that prohibit "dumping" of foreign goods into our market. and severely penalize the theft of intellectual property. Another step may be to restrict the export of certain materials unless they are in their manufactured form ..... example, don't allow lumber to be exported only to be milled on ships bound for a foreign country, don't supply scrap steel to foreign mills only to be returned in the form of finished steel product, don't export crude oil, export refined products etc.. Wherever possible require that TAXPAYER FUNDED projects use domestically manufactured goods.

    The above is just the tip of the iceberg ..... notice I did not propose providing incentives to domestic manufacturers to provide good paying ongoing jobs since time has proven that our government is incapable of effectively administrating such incentives ..... but things may change.

  • Reply to

    There's Something Happening Here

    by rogluther Feb 10, 2016 10:03 AM
    rogluther rogluther Feb 11, 2016 9:55 AM Flag

    And it's all built on a mountain of debt.

    I love getting those monthly checks from those to whom I've made loans. Gee ..... I look at it this way ...... I've helped someone out and I'm getting a nice safe return.

    You should think about it.

  • Reply to

    Basic Economics

    by rogluther Feb 10, 2016 2:25 PM
    rogluther rogluther Feb 11, 2016 10:00 AM Flag


    If what you say is true why are the stocks of Coke and Pepsi having such a hard time?

  • Reply to

    Basic Economics

    by rogluther Feb 10, 2016 2:25 PM
    rogluther rogluther Feb 11, 2016 10:35 AM Flag

    "There is virtually no numerical way the debt can ever be repaid."

    Ya know that Commie Sanders alluded to something in the last couple of days to the affect that he would "stop the speculation on Wall Street".

    To what was he alluding?

    Could it possibly be a transaction tax? IF and notice I say IF something could be arranged with other trading centers then such a tax of, oh lets's say .05%, would bring in boatloads of money and severely limit the speculation or plowing for nickles and dimes in the markets and maybe go a long way to trading on fundamentals rather than computer generated quant trades ..... all good IMO.

    The BIG DISADVANTAGE to such a tax would be limiting the ways our current governing elite would fund their campaigns and lifestyles ..... sorry Hillary..... Bernie has his gun trained on you.

  • Reply to

    There's Something Happening Here

    by rogluther Feb 10, 2016 10:03 AM
    rogluther rogluther Feb 11, 2016 10:50 AM Flag

    Life is great for me and probably you ..... and I agree with you that raising the retirement age will help ..... as will prohibiting the government from spending Social Security funds and replacing them with IOU's (has anyone found that SS lock box)? How about an income limit on those that receive SS.

    But if you think debt will be repudiated with the stroke of a pen you're dreaming. The governing elite would have to make that decision and at this time they know on which side their bread is buttered.

    If I'm a Debbie Downer it appears that I've got a lot of company ..... why is that?

  • Reply to

    Basic Economics

    by rogluther Feb 10, 2016 2:25 PM
    rogluther rogluther Feb 11, 2016 11:07 AM Flag

    Thanks for educating me ..... I didn't realize a transaction tax was one of his proposals. I'll have to run the numbers but the revenue you state for a .1% tax seems very low to me and I don't agree with how he would spend the money to assure the youth vote.

    Capping credit card interest rates at 15% ..... why so high ..... why not float it at X% above something like ????

  • Reply to

    Basic Economics

    by rogluther Feb 10, 2016 2:25 PM
    rogluther rogluther Feb 11, 2016 11:31 AM Flag

    Did some quick checking looks like the market trades about 250B daily in stocks and 800B daily in bonds. If we just use stocks then a .1% tax would yield $250M per trading day!

    Tried but could not yet find the percent of the tax Sanders is actually proposing and on what ..... can you provide a reference to save me a little time?

    I did find a government study that was looking at a .01%.

  • Reply to

    There's Something Happening Here

    by rogluther Feb 10, 2016 10:03 AM
    rogluther rogluther Feb 11, 2016 11:47 AM Flag

    I was just thinking about how the Dems want to punish the rich so that they can buy the votes of the poor and in some cases unproductive blood suckers in our society.

    What better way to do it than to deny the RICH RETIREES that make oh, let's say, more than $250,000 per year in taxable income their SS contributions?

    Those rich retirees could then sleep soundly a night knowing they helped fund the lifestyle of those less fortunate than themselves ..... and all without pledging just $19 a month.

  • Reply to

    Basic Economics

    by rogluther Feb 10, 2016 2:25 PM
    rogluther rogluther Feb 11, 2016 2:49 PM Flag

    Let's not worry about political correctness .... here's three meanings of the word exploit.

    #1. an act remarkable for brilliance or daring; bold.
    #2. to make use of; utilize.
    #3. to make unethical use of for one's own advantage.

  • rogluther rogluther Feb 12, 2016 9:47 AM Flag

    If he's at Oxnard today why don't you say hello for me.

    With regard to the weather ..... I see that India has been nice but parts of China have been on the cooler side which doesn't bother Eric in the least.

    Hmmm ...... let's see ..... India na and India ...... It's nice that someone at CITI has something in common with our future business partners.

  • rogluther rogluther Feb 12, 2016 2:28 PM Flag

    I agree ...... how can spanspur possibly have such a bid steak in CDTI, live next door, and not attend this important meeting?

    Especially since he, after so much complaining, voted to dilute his holdings and ..... that was after just yesterday when he tried(?) to buy an additional 50000 shares at ABOVE market price but evidently was rejected.

    Lastly, how could he have possibly bypassed the opportunity to meet Eric Bippus and develop an informed opinion of the guy? It's hard to imagine how much insider information he could have provided us had by just attended the special meeting.

    Could it be that the stock is down today after he broadcast that he, as CDTI biggest private shareholder, couldn't be bothered to walk a couple of blocks to represent the rest of us lowly private shareholders.


  • rogluther rogluther Feb 12, 2016 3:32 PM Flag

    It's now 3:30pm est ...... how do you know the ballot issue passed? Please provide your source ...... what was the margin?

  • rogluther rogluther Feb 12, 2016 3:56 PM Flag

    I called them at 3:53pm est and they refused to give out any info in lieu of an 8K.

    They did take my name, number and email and said they would contact me when the info. is released.

  • rogluther rogluther Feb 12, 2016 4:15 PM Flag

    I'm not an expert on the legal side but it makes sense they would first issue an 8K to make the info available to everyone at the same time.

    dbtunr ..... since you lambasted me in the past regarding the fact that 95% of the shares are privately held (which data says you were correct on) ask yourself how many of those private owners would vote to dilute themselves UNLESS they were smart enough and up-to-date enough with CDTI's financial condition?

    IMHO the vote could go either way ..... but if it's a big yea margin I will be shocked.

  • Reply to

    Dilution Approved - now almost 4 x o/s shs

    by pick_2day Feb 12, 2016 4:41 PM
    rogluther rogluther Feb 12, 2016 6:44 PM Flag

    Needless to say I'm shocked at the outcome but why do you say that that non voting was considered a Yes vote?

    80% Yes
    19% No
    1% Abstain
    Broker No Vote ----- ...... which I assume means none.

    Total votes cast 12.656,209 ...... so why do you say that not voting was considered a yes vote when not all of the shares out were voted?

    True to her word Beckie Herrick sent me an email of the 8K at 4:40 pm est.

    I just can't believe that private investors which make up 95% of the total, voted by such a great margin to dilute ...... even it was the best thing to do to help reduce a short-term funding disaster.

  • Reply to

    Dilution Approved - now almost 4 x o/s shs

    by pick_2day Feb 12, 2016 4:41 PM
    rogluther rogluther Feb 12, 2016 7:20 PM Flag

    Did a little more reading of my own ..... I always recognized if my shares were held by a broker, bank, etc. I am NOT THE OWNER..... I'm the beneficial owner.

    So ..... If I took no action to vote then the OWNER could vote the shares they hold and it appears that they did just that.

    It's all perfectly legal and was spelled out in advance and in great detail.

    I'm just SHOCKED that the 95% private investors the great majority of who are ONLY beneficial owners did not elect to participate.

    dbtunr ..... can you now can you understand why I kept saying that private investors do not control the fortunes or the stock price of CDTI?

  • Reply to

    Dilution Approved - now almost 4 x o/s shs

    by pick_2day Feb 12, 2016 4:41 PM
    rogluther rogluther Feb 12, 2016 7:37 PM Flag

    I don't know that a non-vote converted to a yes ....... since this was considered a "routine" matter the owners, which in this case are mostly brokers, banks, etc,. are entitled to vote their shares in the absence of a choice by a beneficial owner.

    It does appear that all of the owners did not vote since the number of shares voted is fewer than the shares out.

  • rogluther rogluther Feb 12, 2016 7:57 PM Flag

    I don't like the racial undertones of your statement ...... White Knight ..... really ...... what's wrong with Light Brown or Yellow Knights?

    But on a more serious note, it will be interesting how they handle any new dilution and its extent ..... a little dilution should tell us things are happening ..... a big dilution ..... not so good.

    I'll say it again ..... IMHO the company is up for sale ...... it's just a matter of how much and how long.

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