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Jim Myrtle

Jim Myrtle
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  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    "They said they bought bond to keep down long term interest rates"

    That's not a very specific target. Unlike the 0%-0.25% overnight target.
    I guess I could look at a chart of rates and see what their long term target was?
    May 16, 2015. 05:01 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    They haven't expanded their balance sheet since October.
    Did you think even during QE that they were setting any rate besides the overnight?
    May 15, 2015. 10:36 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    "My solution is non-interference in the setting of market interest rates by a phony bank in the service of a greedy government"

    They only set the overnight rate.
    May 14, 2015. 09:42 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    "My solution favors depositors and consumers"

    Besides hiking interest rates, and changing definitions, what was your solution?

    "We can't make policy based on vignettes and hypotheticals"

    Great. Make your policy.
    May 13, 2015. 09:47 AM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    "The people inside the banks who made bad loans"

    You'll have to provide a definition of "bad loan".
    If I take out a loan from the bank, get into a car accident a month later and default, should my loan officer be fired? What about the regulator of my bank?

    "Instead, their return on deposits has been skimmed"

    You'll have to explain what that means.

    "Problem finders are a dime a dozen. We need solutions."

    Does your solution involve harming bankers? Regulators?
    May 11, 2015. 08:09 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    "Make it "banks" and the point is made"

    Who stole $12 billion from "banks"?
    Any specifics to make your point?
    May 10, 2015. 04:42 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 4: Term Premiums [View article]
    "but will turn the blind eye to people who steal $12,000,000,000 from a bank"

    Who stole $12 billion from a bank? Which bank? Any specifics?
    May 9, 2015. 07:06 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    "You are the one claiming there was some profit"

    And I can back it up.

    http://bit.ly/1IszirE

    TARP, $56 billion in profit.....and counting.
    I could add the Fed's profit to that, if you'd like.

    "and yet I have to be specific?"

    You don't have to post proof of your silly claim.
    I understand if you can't.
    Apr 8, 2015. 11:01 AM | 2 Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    "Also the dollars were given to the banks when the dollar was very strong. The banks paid back the government in seriously debased currency"

    Which dollars were debased over what period of time? Be specific.
    Apr 7, 2015. 10:35 PM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    "so does this not imply that the bailouts benefited or enriched the banks, i.e. their owners and executives?"

    Yes, banks that didn't go under didn't have to fire all their execs.
    Banks that didn't go under, didn't have their stock prices go to zero.

    It's a shame that the government made short term loans, loans that were repaid, at a profit to the Treasury of tens of billions, that benefited the entire economy, also benefited bank owners and executives.
    Happy?
    Apr 6, 2015. 10:02 PM | 1 Like Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    No, I did not see your list of miscreants.
    Apr 6, 2015. 10:01 AM | Likes Like |Link to Comment
  • Why Are Interest Rates So Low, Part 3: The Global Savings Glut [View article]
    Yes, the bailouts, loans that were repaid, saved the banking system.

    You think it shouldn't have been saved, apparently.
    Apr 6, 2015. 12:17 AM | Likes Like |Link to Comment
  • 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
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