Bobco23

What Will the U.S. Economy Look Like in 10 Years? Look to Greece

California?


On Nov 29 01:04 AM chris coonan wrote:

> Hopefully the party crashers at the White House gave Obama some good
> ideas about how to pull us out of this mess. If anything, crashing
> a party is economically prudent.
>
> Iceland, Greece, Dubai...where next?

Employment: Neither Quality Nor Quantity

Under capitalism man exploits man.
Under socialism its the reverse.

To that little homily you should understand that under capitalism the individual makes choices, under socialism, the state makes them for you; and not to your best interest. See world history.


On Nov 08 11:36 AM just mike wrote:

> I've seen this guy on CNBC a few times and now spent the morning
> reading several of his articles. I find him completely negative about
> everything the government and markets have done and are doing.<br/>I
> thank my lucky stars that he isn't running the country or the pain
> the common man would endure would be unbearable since the wealthy
> such as himself would come through it fine and on the backs and the
> suffering of the common man.
> He is a pure capitalist without any social conscience.

Why Marc Faber Is Wrong About the CPI

Excellent point.

I would add that government at all levels has no credibility. Even if the measurements were fair and representative of "inflation", few of us are going to believe the government.


On Jun 21 04:07 PM sabre_jenn wrote:

> I don't think you and Faber are on the same page... I did not see
> Faber's CNBC interview, but I heard him speak in person recently
> (and he usually talks about the same things).
>
> Faber is talking about actual inflation experienced by the "average
> consumer" -- better known as the cost of living. A few comments note
> above that many prices such as utilities, education (college or local
> via property taxes) and healthcare are growing double digits, while
> the only things going down are stocks and home prices. The cost of
> living is skyrocketing.
>
> According to the BLS, CPI is supposed to be a **PRICE** index, not
> a cost of living index. That many people misuse CPI as an inflation
> measure does not change the fact that it is not an inflation measure
> -- it says so right on the BLS's website.
>
> As for the examples cited in the article -- I think the author did
> a lot to discredit CPI as either a cost of living index or a price
> index.
>
> For example, the article says health care and insurance are weighted
> 6.4% and 2.8% respectively. That's great in la-la land of government,
> but in the real world, health care spending is around 15% of GDP
> -- so says Obama, Republicans, insurance companies, hospitals, pharamaceutical
> companies, AARP, and the GAO. Basically, both political parties,
> as well as major suppliers and consumers of health care, all agree
> the correct weighting is around 15%
>
> The BLS weghting of 6.4% is just plain wrong, and the authors attempts
> to label detractors as conspiracy theorists just makes him look foolish.
> The correct weighting should be something close to 15%.
>
> Gross misweightings such as health care make CPI rather deceptive
> for its intended use as a PRICE index.
>
> CPI was never an appropriate gauge for cost of living -- no matter
> how many contracts use it as such. Even the BLS agrees with that

Is the Employment Picture Really Better Now than in 1933?

Brilliant teacher of macroeconomics? Not likely. To pin the economic distress of today, the origin of which began after WW2 with the creation of the credit economy, on Bush is infantile.


On Jun 09 09:23 AM Ferdinand E. Banks wrote:

> This is a very interesting and well written paper. The problem is
> that age-wise I am almost certainly closer than the author to the
> depression generation, and so I don't have to believe what that gentleman
> believes. In addition there was a short period when I was a brilliant
> teacher of macroeconomics, however even if I had never opened a macro
> book I could never accept the author's bottom line. Things are bad
> now, however it seemed to me that it required a war to scale down
> the Depression.
>
> I will admit though that the present government will have to do a
> lot of work to correct the mistakes of Mr Bush, and I for one hope
> that it doesn't attempt to solve the problems of the US while being
> overly concerned with the many shortcomings and woes of foreign friends
> and allies.

Is the Employment Picture Really Better Now than in 1933?

I was downsized in1997 at age 57. I went out and got another job. I still detest liberals.


On Jun 09 07:53 AM redbaron wrote:

> Good thoughts, well presented, and I agree with the main concepts.
> As I mentioned yesterday in another SA discussion on the unemployment
> rate, I quit using this statistic for economic activity measurement
> when calculation methodology was changed several years ago.
>
> I was gainfully employed for 31 years, and was a member of the working
> class until 1996, when at the age of 54 my long time employer decided
> that I was no longer needed, and could legally downsize me without
> repurcussions. That event changed me forever, and my political attitude
> was adjusted to the left, from slightly to the right of center. I
> often wonder how others political attitudes have similarly changed
> as a result of similar events.

CEOs Must Bring Investors Along for the Ride (WSJ)

Having worked at senior levels of small and major corporations, I can tell you with complete confidence, there are dozens of highly qualified executives ready to take the helm in the event the current grossly overpaid CEO leaves in a huff over pay. There is no lack of top talent. Let the CEOs walk.

sonearsofar has the answer to the problem, seperate the CEO from the chairman of the BOD and change the way directors are nominated. Companies will not do this voluntarily. The current CEO/Chariman will not allow it. Sadly, the only hope is for the government (ugh) to change the rules for the election of directors. Until that happens, directors will be like minded as those who appoint them (the annual election is a Soviet style scam) and beholding to the CEO for their lucrative positions. Maybe the BAC fiasco will result in some of these needed changes. The government forced separation of the CEO and chairman are a good beginning.

Oil and Stocks Have Bottomed, But Their Paths Forward Vary

Wow. Bush is responsible for all the woes that have ever happened in the history of the world!

Good thing we now have such new (?) leadership in Nany Palosi, Harry Reid, and Barack Hussein Obama. They will make everything right.

Right.

How Much Downside Could Still Exist?

Under capitalism, man exploits man.

Under socialism, it's the reverse.


On Mar 03 09:59 AM boats wrote:

> There you go confusing freedom and capitalism. Capitalism makes slaves
> of 99% of the population.

Mid-Year Report: Is a Summer Turn-around Still Possible?

Blame the congress, the president, Republicans, big-oil?

Come on. Grow up. The world is far too complex and competitive for any one group to create or manage this situation, let alone be able to change its course. The world changes; sometimes by a lot. This is one of those times.

You would all be better off to stop whining and lean to trade the short side.

The Triple Play: Oil Addicts, The Credit Crunch and Deflation

Where did you get this guy, the weather underground? 1) There is no oil conspiracy just a pardigm shift in the economic evolution of the world. Get over it and profit. 2) The end of the financial world is not coming, just punishment for those unfortunate enough to get caught in the bubble bust. Like tech, housing and credit will recover in time. 3) Deflation? You mean inflation. Printing money causes inflation not deflation (see Samuelson, Econ 101).