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Tricky

Tricky
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  • Emerging Trend: More Cities Will Declare Bankruptcy to Lower Public Union Costs [View article]
    I fully expect that public sector union pensions will be bailed out on the backs of taxpayers via the federal govt.
    May 28 09:38 AM | 4 Likes Like |Link to Comment
  • U.S. Fiscal Deficit Hysteria: A Rebuttal [View article]
    Although I don't agree with everything in here, this is a worthy contribution to the ongoing dialog.

    I agree that the govt can quickly find ways to increase receipts. I have a lot less faith that it will wean itself off of high spending (no matter what party is in power).

    One thing you are right about -- unhappy Americans who want to "quit" don't have a lot of better options. But the more relevant point is that revoking your citizenship still involves you paying taxes to the US for multiple years afterwards (I think 7 years).
    May 27 05:49 PM | 2 Likes Like |Link to Comment
  • Don't blame teachers and cops who pull down fat retirement checks for huge and growing unfunded pension liabilities; blame the political process that encourages governments to defer and understate costs, Ed Glaeser says. We need a compensation system "where costs are obvious and where governments pay... at the time the work is done." Otherwise, the whole country could wind up like New York or California.  [View news story]
    Okay, I won't be upset when public sector workers give their buddies artificial "battlefield promotions" right before they retire, so that they can enjoy a higher salary base for their pension calculations.
    May 25 07:06 PM | 12 Likes Like |Link to Comment
  • The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy [View article]
    One of my businesses cashed out, so I'm fine. Thanks. I monitor investment sites to care for the winnings.

    But yeah, keep talking up the public sector employees who don't have the discipline, intelligence or balls to go be accountable in the real world.
    May 25 06:52 PM | 4 Likes Like |Link to Comment
  • More Signs of Housing Market Stability [View article]
    LOL. I guess he's just going to keep saying this until it's eventually true.
    May 25 03:58 PM | 4 Likes Like |Link to Comment
  • 12 Reasons I Still Haven’t Bought an iPad [View article]
    LOL, hey I helped you out with a +1 if it makes you feel any better.

    If you really want to get swarmed, go post something negative about Sirius LOL
    May 25 01:36 PM | 1 Like Like |Link to Comment
  • 12 Reasons I Still Haven’t Bought an iPad [View article]
    Here is an idea -- why don't you wait, just one more day, to spend enough time with the device to be qualified to write some kind of public review. Is there something so important about your opinion (quite a while after the device was released, I might add) that it couldn't wait a day or two to actually publish and informed opinion?

    FYI -- I haven't bought an iPad either and don't intend to any time soon (I want to see what other tablets come out), so I'm no Apple fanboy coming to their defense.
    May 25 08:39 AM | 5 Likes Like |Link to Comment
  • The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy [View article]
    "Maybe they were paid too much but they still have a right to their retirement".

    Hmm. Inflated salary and pension plans (get paid 20 years of your adult life for not working) not available to the public sector (the people who actually create economic value in society), because you are living off the public tit. And what did the taxpayers get in return? Overally, some awful service (with attitude) from relatively unproductive people.

    You didn't "make it" -- your union squeezed the taxpayers through its political influence. Yeah, you're my hero. You should get out and see the real world, where small businesses create the vast majority of the economy.

    I have helped create 4 businesses. One of them made the mistake of having some employees in CA, so that the state could hit us up for plenty of b.s. "nexus taxes" -- I guess mainly to fund its unproductive public sector leeches. As a result, I have taken great care to avoid having any employees in CA for the other 3 businesses.

    In one of my businesses, we had to deal with several state of California entities -- awful, awful, awful.
    May 24 04:30 PM | 12 Likes Like |Link to Comment
  • The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy [View article]
    Making more revenue available to the State of California will not solve its ongoing budget woes because the politicians and public sector union would just ramp up expenditures accordingly.
    May 24 01:48 PM | 7 Likes Like |Link to Comment
  • Krugman Laments the Coming Lost Decade [View article]
    Um, you mean like these inflation figures?

    1946 8.43%
    1947 14.65%
    1948 7.74%

    Multiplicatively, that's almost 40% inflation over 3 years right after the end of World War 2. That's called inflating your way out of a debt hole. It's not "hyperinflation" but it's definitely "high inflation".

    inflationdata.com/infl...
    May 22 10:49 PM | 2 Likes Like |Link to Comment
  • Krugman Laments the Coming Lost Decade [View article]
    ... for as long as those emerging economies view western sovereign debt to be safe from default and/or currency debasement
    May 22 11:49 AM | 1 Like Like |Link to Comment
  • Krugman Laments the Coming Lost Decade [View article]
    And you are forgetting some crucial aspects of post-war America. It inflated it's way out of the debt burden. But it was able to handle this because it had a massive production capacity for exports and all of its major competitors were either physically devastated from the war and/or shooting themselves in the foot with dodgy socio-economic schemes. None of those are the case any more.

    I don't think the US is *necessarily* doomed, but we need to recognize that the landscape is very different than the 40's.
    May 22 11:47 AM | 3 Likes Like |Link to Comment
  • Krugman Laments the Coming Lost Decade [View article]
    Good idea. The government should follow the Greek example and make hairdressers and musicians government employees. And of course the public sector unions get bigger and more powerful, winning even more ridiculous pay and pension plans. It worked well for Greece, why not try it here?
    May 21 05:29 PM | 10 Likes Like |Link to Comment
  • EU governments are backing efforts to coordinate fiscal policy more closely, President Herman Van Rompuy says, including stronger punishments for nations that flout rules like the deficit limit of 3% of GDP and debt limits of 60% of GDP. An EC task force will reportedly meet two more times and a progress report is expected June 17.  [View news story]
    I will only believe it when I see an actual punishment enforced

    That said, just to muse aloud, I sure wish we had that kind of rule at all levels of government in the US
    May 21 01:20 PM | Likes Like |Link to Comment
  • The Treasury lowers its cost estimate for TARP to $105.4B, from $116.9B, pointing to gains in its Citigroup (C) investment, lower costs for aid to AIG and improvements in the auto-industry outlook. "Not only have we averted an economic catastrophe, we're in a stronger position sooner than anyone predicted," says Assitant Secretary Herb Allison.  [View news story]
    I forgot -- are Freddie and Fannie within that program
    May 21 12:27 PM | 2 Likes Like |Link to Comment
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