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Tom Evslin

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  • Confessions of a Stimulator: Which Jobs Don't Count [View article]
    TARP may have cost us much more than Stimulus. The price of a government bailout for banking is over-regulation - and there's no argument against it if bankers are going to be protected from marketplace discipline.

    The market WAS working and was punishing bad banking practices. The banking industry managed to convince us that we were all hostages and collect ransom. But the dollar cost - most of which'll probably be repaid - is trivial next to the systemic damage to capitalism.

    see more at Election Analysis: It Was TARP that Boiled the Tea (blog.tomevslin.com/201...) and We've Been T*RPed (blog.tomevslin.com/201...)
    Dec 31 08:15 AM | 1 Like Like |Link to Comment
  • The New Normal [View article]
    I hope you're right; I have kids and they have kids.


    On Jan 06 07:15 PM Six wrote:

    > I think you are on the right track Tom. But I don't think the big
    > push from the US gov is going to reinflate the ballon this time.
    > Consumers are done. Look at the retail numbers for Christmas, for
    > once the American people shunned the idea that the only way to show
    > someone you care is to pump up your credit card balance. Christmas
    > is hallowed ground for consumerism but for the first time in a long
    > time the American consumer passed. Historically this will be known
    > as the great moderation as people choose to live a frugal lifestyle.
    > American society will look very different just 3 years from today.
    Jan 6 09:44 PM | 1 Like Like |Link to Comment
  • The New Normal [View article]
    at least required more air conditioning:-}


    On Jan 06 05:44 PM Roger Knights wrote:

    > "I programmed a multi-million dollar IBM 7090 forty-seven years ago
    > (which had less computing power than my current $100 watch ..."<br/>
    >
    > To round that off, you might have added (in a slightly hyperbolic
    > vein) "... and weighed more than Big Ben."
    Jan 6 09:40 PM | 1 Like Like |Link to Comment
  • The New Normal [View article]
    You're absolutely right. will post on that difference soon.


    On Jan 06 05:09 PM Smarty_Pants wrote:

    > You're getting warmer.
    >
    > There's a difference between deflation (ie. lower prices) caused
    > by improvements in productivity, like in the computer industry, and
    > deflation caused by a shrinking money (or credit) supply, as we're
    > experiencing in today's environment.
    >
    > Most items whose prices are falling these days are doing so because
    > of the latter. It's not getting tens of thousands of dollars cheaper
    > to build a house, there's just less money to credit available to
    > buy it with, so the price falls.
    >
    > Deflation via productivity is a good thing. Deflation via shrinkage
    > in the supply of credit (ie. debt based money) is bad for those who
    > either hold the debt and default, or those who are creditors and
    > find that the collateral they receive won't bring enough money to
    > make them whole on the loan.
    >
    > One of the main confusing factors in the discussions regarding our
    > current economic crisis is that the term "deflation" is used as though
    > there is only one definition, when there are actually two that mean
    > vastly different things.
    >
    Jan 6 09:38 PM | 1 Like Like |Link to Comment
  • The New Normal [View article]
    Good point. The return on college loans is high in terms of future wages but it's not a given that college costs have to be on an up escalator any more than any other costs.


    On Jan 06 05:04 PM dixie wrote:

    > Let's apply this reasoning to the ever increasing cost of higher
    > education (and often resultant student debt).
    >
    > How will this expense to be borne with falling wages?
    Jan 6 09:35 PM | 1 Like Like |Link to Comment
  • Deflation Changes the Rules [View article]
    Mr. G.

    You can buy more gold with $1000 (US) cash today than when gold was at $1000; that's why cash is king. Gold may be better than oil or corn at the moment but it's not cash.
    Oct 9 09:57 AM | Likes Like |Link to Comment
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