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Jim Myrtle

Jim Myrtle
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  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    "First you claim that these banks were going to collapse"

    The banking system was in danger of collapse.

    "Then you claim that the owners and executives of these rotten banks were not enriched by the massive bailouts"

    Can you be specific about what massive bailout you're referring to and what you mean by enriched?
    Are you talking about TARP or Fed loans? Or something else?
    Apr 5, 2015. 11:45 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    Thanks for the William Black link.
    Was that proof we should have let the banking system crash?
    Or that we didn't save it?
    Or what?
    Apr 5, 2015. 09:57 PM | 2 Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    "Enriching suspected criminals with trillions of dollars might be good politics"

    Short term loans, long ago repaid, that kept the banking system from collapsing were a good idea.

    "Why should we enrich a band of miscreants?"

    Which short term loans enriched which miscreants?
    Can you explain the mechanism of this supposed enrichment?
    Specifics would be nice.

    "And it is debatable whether we were saving the banking system"

    Did the banking system collapse? Did the government have to spend money to repay depositors? Did depositors lose all their money?
    How many banks actually failed?

    "We were most likely saving the wealthy and well connected from losing a bunch of wealth"

    Not to mention the middle class and less connected who didn't lose their deposits or further wealth from a crashing banking system.
    Apr 5, 2015. 07:03 PM | 2 Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    "If it makes you feel better, then you can claim that the massive bailouts were not political"

    Preventing a total collapse of the banking system sounds like good politics.
    And good economics.
    Apr 4, 2015. 05:15 PM | 4 Likes Like |Link to Comment
  • Aluminum price-fixing suits against JPMorgan and Goldman thrown out [View news story]
    You can pretend they're guilty, if that makes you feel better.
    Mar 10, 2015. 10:00 AM | Likes Like |Link to Comment
  • FOMC minutes: June rate hike not a slam dunk yet [View news story]
    "You missed the point of the exercise"

    Yes, I missed the point of your confusion.
    Feb 22, 2015. 11:57 AM | Likes Like |Link to Comment
  • FOMC minutes: June rate hike not a slam dunk yet [View news story]
    I agree, eternitus, it is unbelievable.

    "Have I deleveraged? Is my economic position less risky?"

    The idea that 67% equity, compared to 2% equity, is not less leveraged.
    That 67% equity isn't less risky than 2% equity.
    Feb 20, 2015. 04:54 PM | Likes Like |Link to Comment
  • FOMC minutes: June rate hike not a slam dunk yet [View news story]
    "That's the same kind of thinking that got folks into hot water in the last credit cycle"

    No, leverage is a statistic, not a concept, not a feeling.
    Someone with 67% equity is less risky than with 2% equity.

    "They told themselves "hey, I deleveraged" and took out more loans to get back to a more "reasonable" leverage ratio"

    You mean they increased their risk, increased their borrowing.
    Borrowing, that's a real number, not a concept.

    "I was talking about using leverage to finance capital markets assets - margin and the like"

    Let's talk margin. 2% equity in your account is riskier than 67% equity.
    Ask your prime broker.
    Feb 20, 2015. 01:58 PM | 2 Likes Like |Link to Comment
  • FOMC minutes: June rate hike not a slam dunk yet [View news story]
    "Leverage is a concept, not a statistic"

    That's funny.

    "Say I had $100,000 of equity and bought $5,000,000 worth of SPY at the nadir of the market in March 2009.
    Today, I would have $15 million in assets and still only $4.9 million in debt. Have I deleveraged? Is my economic position less risky?"

    Yes, 33% LTV is less leveraged than 98% LTV.
    Yes, 67% equity is less risky than 2% equity.
    Feb 19, 2015. 08:54 PM | 5 Likes Like |Link to Comment
  • Why Public Banks Outperform Private Banks: Unfair Competition Or A Better Mousetrap? [View article]
    Which bank stocks are you shorting?
    Feb 14, 2015. 02:20 PM | Likes Like |Link to Comment
  • Why Public Banks Outperform Private Banks: Unfair Competition Or A Better Mousetrap? [View article]
    Thanks for the link.
    Do you have one that actually helps your claim?
    Feb 12, 2015. 05:36 PM | Likes Like |Link to Comment
  • Why Public Banks Outperform Private Banks: Unfair Competition Or A Better Mousetrap? [View article]
    "Unless oil turns around very quickly, imprudent bets in oil futures will cause the "private" banks to be publically funded again"

    What makes you think any banks made "imprudent bets in oil futures"?
    Feb 12, 2015. 01:53 PM | Likes Like |Link to Comment
  • Why Public Banks Outperform Private Banks: Unfair Competition Or A Better Mousetrap? [View article]
    I guess we'll have to wait for the Public Bank of Illinois or California to blow up under crony loans for you to stop writing these silly articles.
    Feb 12, 2015. 12:19 PM | 1 Like Like |Link to Comment
  • Negative Interest Rates: Capital's Reproduction Problem [View article]
    "China, despite exporting over $500 billion in capital annually to just the US, in the form of US Treasury purchases"

    China does not buy $500 billion in additional US Treasuries a year.
    Feb 11, 2015. 09:34 AM | 1 Like Like |Link to Comment
  • Negative Interest Rates: Capital's Reproduction Problem [View article]
    "the Fed controls the price level"

    Controls? Are you sure?
    Feb 10, 2015. 06:22 PM | 1 Like Like |Link to Comment
COMMENTS STATS
1,148 Comments
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