Steven Ravine

Steven Ravine
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  • The Meaning Of Cyprus  [View article]
    I know, let's burn the village down in order to save it!
    Mar 17, 2013. 07:58 PM | 1 Like Like |Link to Comment
  • It's Only A Fiscal Slope, Not A Cliff!  [View article]
    "Those who can most easily afford it would pay the most."

    Typical redistributionist line. People will spend nearly all of the money they make. Assuming a person who earns $300,000 has money laying around the house and can "easily" pay more taxes is foolish and unfounded. This particular earner will live in a bigger house with a huge mortgage, drive expensive cars and contribute more to the economy by spending more money. Taking more of this money in taxes will do nothing to help the economy and much less to help a disfunctional government.
    Dec 29, 2012. 01:41 PM | Likes Like |Link to Comment
  • After voters approved tax hikes for the rich in the recent election, California’s Legislative Analyst’s Office is forecasting that the state will enjoy a surplus of $1B by FY 2014-2015. Critics says the increases will lead to an exodus of residents, businesses and jobs, although Governor Jerry Brown's office points to a report which says that the link between tax policies and migration are untrue.  [View news story]
    Here's the ticket to a $1billion surplus...the federal government will take over the liability for all state pension funds starting with Illinois (I wonder why?) and California.

    Wanna bet that happens in the next four years?
    Dec 4, 2012. 09:50 AM | 4 Likes Like |Link to Comment
  • The Fiscal Cliff Is The Best Fiscal Medicine  [View article]
    Please remember that EVERYTHING in the "fiscal cliff" is what the Democrats in Congress and the White House have wanted for years. Massive revenue increases (whether real or perceived, it doesn't matter) with the elimination of the Bush tax rates, tax increases buried within Obamacare and huge spending cuts to the defense budget. What's not to like?

    Bottom line is there will be no substantive deal. The nation's debt is not a concern to the ruling class, only to us.
    Nov 26, 2012. 11:34 AM | 4 Likes Like |Link to Comment
  • Marginal Tax Rates Killed Growth And Threaten Earnings  [View article]
    Is the federal tax system designed to produce the most revenue for the government with the least amount of stress and strain on the economy and the citizens or is it designed to be used as a social engineering weapon for ensuring wealth redistribution and promoting favoritism for the recipients of the political class?

    It cannot function as both. The current system is a total disaster.
    Oct 13, 2012. 11:22 AM | Likes Like |Link to Comment
  • Divergent Jobs Reports: Will The Real State Of The Labor Market Please Stand Up?  [View article]
    Isn't it about time to eliminate the use of "seasonally adjusted" numbers in all government reports? Heck, even cars sales are seasonally adjusted.

    Trying to smooth out seasonal variables leads to manipulation errors and produces bogus numbers. I think we can handle the truth that real numbers would tell us.
    Oct 10, 2012. 06:05 PM | 6 Likes Like |Link to Comment
  • QE Buzz Lightyear: To Infinity And Beyond! Printing New Money Will Fuel Market's Fire  [View article]
    How will the $45B a month to purchase mortgages end up on Wall Street if the mortgages are bought from Freddie Mac, Fannie Mae and the FHA to save those government programs from failure?
    Oct 6, 2012. 12:03 PM | Likes Like |Link to Comment
  • Non-Farm Friday: Finally Good News Can Be Good News Again  [View article]
    Don't go goofy on us Phil.
    Oct 5, 2012. 11:55 AM | 2 Likes Like |Link to Comment
  • QE3: Blunt Object With Dull Impact  [View article]
    Let's not over-think QE3 and its ramifications. The unstated purpose is to rescue the FHA, Fannie Mae and Freddie Mac from the mortgage morass those governmental agencies have put themselves into without having to beg, borrow or steal (again) direct taxpayer money. That would prove too embarrassing for the Administration.

    The $40B per month is going to the government and not Main Street or Wall Street.
    Oct 4, 2012. 08:24 PM | Likes Like |Link to Comment
  • Just 2 Things Really Matter This Week - Both From Washington  [View article]
    "Only other reason for QE 3 now is that something very bad is happening that we don't know about..."

    Darn right! Either Benanke sees 1) a global depression coming or 2) the election of Romney, or 3) both. QE3 was the act of a very desperate and worried man.
    Sep 23, 2012. 10:53 AM | 3 Likes Like |Link to Comment
  • The Eurozone Recovery Continues  [View article]
    I am so glad the banks are healthy again. That makes me want to go out and buy a new car and build a new house. Oh, wait. I don't have the money. Good thing European consumers are in much better shape than I am.
    Sep 19, 2012. 10:03 AM | 1 Like Like |Link to Comment
  • Prepare Now For The Looming Fiscal Cliff  [View article]
    Why is it a "fiscal cliff" when everything that is going to happen is what the Democrats want and passed, i.e. elimination of the Bush tax rates, new taxes to pay for Obamacare, and huge cuts in the defense budget.

    Why would Dems negotiate any of this away?
    Sep 2, 2012. 11:38 AM | 1 Like Like |Link to Comment
  • Senator Calls Bernanke A 'Distraction,' Urges Abolition Of Dual Mandate  [View article]
    What? Overblown generalities rarely command attention or due consideration. Please offer specifics rather than talking points, please
    Aug 30, 2012. 06:23 PM | 2 Likes Like |Link to Comment
  • Leading Indicators Point To Awaited Economic Growth  [View article]
    If not for statistical slight of hand, the retail sales for July was actually DOWN 1.0% not up .8%. Funny how "seasonal adjustments" are manipulated at the last minute to massage numbers upward.
    Aug 20, 2012. 11:36 AM | Likes Like |Link to Comment
  • The Ethanol Disaster And The Ramifications For Producers  [View article] we go again. If the first state for presidential primaries wasn't Iowa, ethanol would never exist. It is neither economical to produce of use; it survives only because of federal subsidies and mandates. The subsidies are drying up (like the corn crop) and the mandates cannot be far behind.

    Ethanol is a perfect example of how Washington screws up whenever it tries to pick winners and losers.
    Aug 1, 2012. 06:21 PM | 3 Likes Like |Link to Comment