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Carlos Lam

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  • On the Myth of Exploding U.S. Money Supply [View article]
    I simply don't believe that Dr. Bernanke will stop in June, or -- even if he does -- a QE3 will be quick to follow. I think Egg's question bears repeating : But who's going to buy the federal debt in July?
    According to PIMCO (and, yes, they MAY be wrong), the Fed's buying 70% of treasuries.
    Mar 8 09:51 AM | 12 Likes Like |Link to Comment
  • Recovery Confirmed: Canadian Dollar a Solid Investment Over Next Few Months [View article]
    The Harper government has done a fine job of of late. The deficit is down to under $2 billion USDs, or .09% of GDP! Compared with us (deficit at over 10% of GDP), Canada looks like a model of fiscal rectitude. Of course, being a resource-laden economy has its advantages.
    Mar 7 12:27 PM | 1 Like Like |Link to Comment
  • Inflation vs. Deflation: Which Door Would You Pick? [View article]
    "History shows the great cost of deflation; the great Depression comes to mind!"

    But history also shows -- and, IMHO, Murray Rothbard proved conclusively -- that it was the Federal Reserve's easy money & credit policies in the early 1920s that eventually caused the GD. The Fed inflated the money supply (that's inflation) and blew a big bubble. The GD was the result of the correction that needed to take place after then bubble popped.
    Mar 4 11:26 AM | 1 Like Like |Link to Comment
  • Inflation vs. Deflation: Which Door Would You Pick? [View article]
    "If there is deflation, as you said, the saver is rewarded. The problem with that is that he is rewarded for doing nothing."

    No, you are incorrect. If there is deflation, the saver can place his savings (which are NOT diminishing in real terms) into the banking system. The banks can then loan out the savings for entrepreneurs to use.

    Currently, I -- a saver -- must move my savings into gold and silver to simply protect the value of my savings. Those savings get parked in those two elements but are not "put to work" in the real economy.
    Mar 4 11:22 AM | 1 Like Like |Link to Comment
  • Inflation vs. Deflation: Which Door Would You Pick? [View article]
    compuriv is correct: governments--who are often the biggest debtors--will almost always pick inflation because it destroys the real burden of their debts.
    Mar 2 12:10 PM | Likes Like |Link to Comment
  • Inflation vs. Deflation: Which Door Would You Pick? [View article]
    I'd pick deflation for sure. Deflation rewards savers, while inflation rewards debtors.

    I do believe that David Rosenberg is correct, however. A spike in oil prices quite often leads to an economic slowdown or even contraction.
    Mar 1 01:28 PM | 1 Like Like |Link to Comment
  • Bernanke on the Hill for his semiannual visit: Price spikes in oil and other commodities are "at most, a temporary and relatively modest" spur to inflation - and don't blame the weak dollar, because commodities are rising in all major currencies. Fed expects real GDP gains of 3.5-4% in 2011. Many conditions are much improved, but jobs and housing are very weak. (Q&A on live video)  [View news story]
    Ben is essentially saying, "The other guys are printing their currency to death, so I'm just doing what they're doing."

    What a pathetic excuse for a leader.
    Mar 1 01:18 PM | 3 Likes Like |Link to Comment
  • An Unsustainable Public Worker Gravy Train Bubble [View article]
    As a prior comment noted -- at least in the GM example -- both management and the UAW were to blame. The UAW asked for too much, and management agreed to it. That's why legacy costs were so high for GM.

    With regard to public employment, though, there's very little need for collective bargaining because -- as I stated before -- public employees can have the ultimate say at the ballot box. If you're a snow plow driver who believes you're underpaid, then petition your city councilman. If he doesn't "solve" your "problem," then vote him out at the next election or run against him.
    Feb 28 04:24 PM | 1 Like Like |Link to Comment
  • An Unsustainable Public Worker Gravy Train Bubble [View article]
    Indiana.
    Feb 25 04:00 PM | 1 Like Like |Link to Comment
  • An Unsustainable Public Worker Gravy Train Bubble [View article]
    I'm a public employee, and I'm not covered by any sort of collective bargaining agreement. And guess what? I don't need to be covered by a collective bargaining agreement! I talk to my boss (an elected official) if I would really like a salary bump, and he checks to see if it's fiscally possible. Period.

    If I somehow think the size of the budget for our office is too small, I can talk to my county councillors and -- if they disagree -- I can try to vote them out. That's about as much due process as a public employee needs.
    Feb 25 03:22 PM | 3 Likes Like |Link to Comment
  • Stop worrying, naysayers, Caroline Baum writes - the U.S. still ranks at or near the world's best where it really matters: GDP per capita, new business startups, patents, Nobel Prizes, and Miss Universe winners.  [View news story]
    Here: www.rawstory.com/rs/20.../

    The USAF gave out a contract for this type of stuff. Maybe bmcpic is an employee of the winning bidder.
    Feb 25 03:11 PM | 4 Likes Like |Link to Comment
  • Stop worrying, naysayers, Caroline Baum writes - the U.S. still ranks at or near the world's best where it really matters: GDP per capita, new business startups, patents, Nobel Prizes, and Miss Universe winners.  [View news story]
    ...and #1 in debt too.
    Feb 24 08:41 PM | 9 Likes Like |Link to Comment
  • Calling the silver market the "Vegas Strip for the 2-and-20 set," Josh Brown warns potential buyers to know who is long this market right now - quick trigger hedge funds and the "Bernanke is printing us into oblivion" crowd. SLV +1.1%. SLW +4.1%.  [View news story]
    Ummm...Chmn. Bernanke IS printing us into oblivion. Nevertheless, it's good to know who's been bidding up the silver market.
    Feb 23 03:13 PM | 2 Likes Like |Link to Comment
  • Restoring Economic Sovereignty: The Push for State-Owned Banks [View article]
    We have the equivalent of a jubilee: It's called Chapter 7. And, unlike a lot of the foolishness Congress does, it was actually contemplated in the U.S. Constitution.
    Feb 17 09:19 PM | 2 Likes Like |Link to Comment
  • Restoring Economic Sovereignty: The Push for State-Owned Banks [View article]
    Don't get me wrong, Gov. Daniels has improved our Bureau of Motor Vehicles' performance remarkably. That being said, I shudder to think of what the hooligans in the General Assembly would do if they had their hands on a bank. I'm with Pres. Jackson on this one, a government-run bank can only lead to even more power concentrated in the hands of government and of special interests.
    Feb 17 09:07 PM | Likes Like |Link to Comment
COMMENTS STATS
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