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Jim Myrtle

Jim Myrtle
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  • Are Americans Saving Too Little? [View article]
    'Famous dead people make excellent commentators on current events.'

    True. Haven't seen a Jefferson or Lincoln quote about GMOs......yet.
    Aug 13 01:13 PM | Likes Like |Link to Comment
  • Are Americans Saving Too Little? [View article]
    "'If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered"

    I love that fake Jefferson quote.
    Aug 11 09:30 PM | 2 Likes Like |Link to Comment
  • Big Banks Hit With Monster $250 Billion Lawsuit In Housing Crisis [View article]
    "when you get to dump trillions in mortgage backed securities via QE from lenders like countrywide"

    The Fed is buying guaranteed MBS. What does that have to do with Countrywide?
    Jul 31 08:03 PM | Likes Like |Link to Comment
  • Big Banks Hit With Monster $250 Billion Lawsuit In Housing Crisis [View article]
    "North Dakota has established an effective alternative model that other states might do well to emulate. In 1919, the state legislature pulled its funds out of Wall Street banks and put them into the state’s own publicly-owned bank"

    Still an excellent idea! What are the chances a corrupt state government would lend taxpayer money to cronies?
    Jul 16 04:38 PM | 8 Likes Like |Link to Comment
  • The Fed's 'Own Goal' [View article]
    "They should just quit and see how well the sainted muddle class does without them"

    Or they could reduce lending, so you could whine some more.
    Jun 21 03:19 PM | 1 Like Like |Link to Comment
  • Hard Money, Soft Money And Asset Bubbles [View article]
    "Liberalization of derivatives markets was what brought the likes of AIG down"

    Yes, AIG nearly failed because of the crisis, it didn't cause the crisis.

    "securitization of mortgages is what let to the sub-prime crisis"

    Of course mortgages were being securitized long before any supposed deregulation.

    "it's Sunday and I have other things to do besides answering you"

    Thanks. I appreciate your attempts.
    May 25 06:54 PM | Likes Like |Link to Comment
  • Hard Money, Soft Money And Asset Bubbles [View article]
    "as they could shift much of the risk into complex derivatives and sell them to investors who did not understand their risk"

    Are you confusing MBS with derivatives?
    May 25 04:22 PM | 1 Like Like |Link to Comment
  • Hard Money, Soft Money And Asset Bubbles [View article]
    "Here is just one example, but really completely unregulated derivatives markets are a major culprit"

    Derivatives have been regulated on the CBOT and CBOE for a long time.

    Do you know of any banks that failed because of the types of derivatives that you think are to blame for the crisis?

    "WMC Mortgage Corporation, owned by General Electric, hired former strippers and an ex-porn actress to entice brokers into selling their mortgages, according to a report by the Center for Public Integrity?"

    When were strippers and ex-porn actresses deregulated?
    That does sound like something Clinton could get behind.....

    "Or that Wells Fargo gave its mortgage stars all-expense-paid vacations"

    Was there some point when regulations prevented Wells Fargo from doing that?

    "However the worst loans were securitized by folks like Citigroup, Merrill Lynch, and Goldman Sachs"

    Did previous regulations prevent this securitization?

    "They weren't securitizing junk mortgages to meet government goals for low-income homeownership, they were doing it to make money"

    Did previous regulations prevent making money?

    Thanks for trying to answer my question.
    May 25 01:06 PM | 2 Likes Like |Link to Comment
  • Hard Money, Soft Money And Asset Bubbles [View article]
    "- After not having suffered any major financial crisis, we deregulated financial markets and see what happened.."

    What was the deregulation and how is it to blame for the crisis?

    Can you provide some specifics?
    May 25 11:24 AM | 2 Likes Like |Link to Comment
  • Is Inflation Next? [View article]
    "The corporations that own the stock of the 12 member banks are the Real beneficiaries"

    Sure. In 2013, they benefitted from about $1.6 billion in dividends.
    That's a real benefit.

    In 2013, the US Treasury benefitted from about $77.7 billion in Fed distributions.
    More than 48 times the "stock owners" benefit.
    May 2 11:51 PM | 1 Like Like |Link to Comment
  • Is Inflation Next? [View article]
    "I think the point he is trying to make is that the "money supply" itself should also be included as part of the government debt"

    My bank accounts are part of the money supply and are in no way related to government debt.
    May 1 06:33 PM | Likes Like |Link to Comment
  • Is Inflation Next? [View article]
    I hope your books have fewer errors than your posts here.
    Apr 18 03:42 PM | 2 Likes Like |Link to Comment
  • Is Inflation Next? [View article]
    "That's not the issue master of the twist Jim. Not talking about after 2004"

    That's hilarious. Of course we're talking about after 2004.
    It's clear, the ten years before 2004, an adjustable mortgage saves you money.
    It's not clear that an adjustable after 2004 costs you money.

    "Won't even return to see what you write"

    Of course not. See you later, Robin.
    Apr 18 10:57 AM | Likes Like |Link to Comment
  • Is Inflation Next? [View article]
    "Yes ,convert FRN's to Silver. Why? Because it is a better storage of wealth"

    Down 60% in 3 years = "a better storage of wealth"!

    LOL!
    Apr 17 12:09 AM | Likes Like |Link to Comment
  • Is Inflation Next? [View article]
    "the traditional fixed-rate mortgage may be an expensive method of financing a home."

    Excellent!

    "Calculations by market analysts of the "option adjusted spread" on mortgages suggest that the cost of these benefits conferred by fixed-rate mortgages can range from 0.5 percent to 1.2 percent, raising homeowners' annual after-tax mortgage payments by several thousand dollars"

    Even better.

    "To the degree that households are driven by fears of payment shocks but are willing to manage their own interest rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home"

    Look at that.

    30 year mortgages are expensive, especially if you move in less than 10 years, as many Americans do.

    If they can "manage their own interest rate risks" home buyers can save with an adjustable.

    "Indeed, recent research within the Federal Reserve suggests that many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade, though THIS WOULD NOT HAVE BEEN THE CASE, of course, HAD INTEREST RATES TRENDED SHARPLY UPWARD"

    So did they after 2004?
    Look at these 3 charts and you tell me which was better.

    http://bit.ly/1h5IY8A

    http://bit.ly/1h5IY8C

    http://bit.ly/1h5IY8E
    Apr 17 12:07 AM | Likes Like |Link to Comment
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