Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
"The Bank of North Dakota is the only state-owned bank in the country"
So what? I'm more concerned about the state banks in the more corrupt states.
How would Alexi Giannoulias (the mobbed up Illinois Treasurer) do when he directs state money into loans for his Mob buddies and political cronies (but then I repeat myself)?
"Inflation and ZIRP are absolutely a form of theft and wealth transfer from large segments of citizens to a small minority of the wealthiest elements of society"
You're right, only those who borrow, invest or hold hard assets could benefit from the Fed's policy. Hardly anyone......
Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
"They can be as big as they want as long as we don't have to underwrite them, but "too big to fail" means we the people have to pick up the tab when they get in trouble"
When your state banks get into trouble, who will pick up the tab?
"There are a lot of useful things we could do with some publicly-owned banks, like generate the credit to get the economy whirring again"
And politically motivated loans. Maybe they could help poor credit risks to buy homes they can't afford?
"Explain to me why there have been no criminal prosecutions of the big banks"
Explain to me the crimes they'd be prosecuted for committing. Too much lending? Securitizing their mortgages and selling the MBS? Buying someone elses MBS? Holding too many mortgages? Selling too many mortgages short? Do you want to prosecute them now for lending too little? For paying their employees too much? Too little?
First Steps Toward A European Banking Union [View article]
"The Fed allows banks to borrow at 0.25%; they then redeposit with the Fed and earn 2.25% (roughly) and these are termed Excess Reserves"
Ummmmm....banks can borrow from the Fed at 0.75%, not 0.25%. And the Fed pays 0.25% on excess reserves, not 2.25%. What is math like on your planet? LOL!
The Output Gap: Welcome to the Balance Sheet Recession [View article]
"The point is that over the past few decades, the top 10% has taken most of the gains in the economy"
Don't you mean earned?
"It is because the system is heavily tilted in their favor through their use of global labor arbitrage, favorable tax treatment"
Yes, our highly progressive income tax combined with the highest corporate tax rates in the world make it easy for evil rich guys to make all the money. LOL!
"Democracy and a healthy economy depend upon the middle class"
And the middle class depends on rich people for jobs.
"and wealth has been being transferred from them to the rich for a generation now"
Returning to a Gold Standard Is a Bad Idea [View article]
Lower prices due to gains in productivity is a good thing. A great thing.
Lower prices, bankruptcy, massive unemployment and reduced GDP due to a deflating money supply is a bad thing. A very bad thing.
On Dec 30 04:51 PM huangjin wrote:
> If deflation is so terrible, how does the electronics industry survive? > Deflation isn't better than inflation because of a value judgement. > Deflation is better because it is the natural state of affairs.
"still funny they don't know how to make money with even THAT going for them"
Don't know how to make money? They made almost $19 billion last year, over $17 billion the year before last. Over $14 billion in the first 3 quarters of 2012.
Did Bernanke Pull a Fast One Last Night? [View article]
Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
So what? I'm more concerned about the state banks in the more corrupt states.
How would Alexi Giannoulias (the mobbed up Illinois Treasurer) do when he directs state money into loans for his Mob buddies and political cronies (but then I repeat myself)?
Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
There's No Longer A Bernanke Put [View article]
You're right, only those who borrow, invest or hold hard assets could benefit from the Fed's policy.
Hardly anyone......
Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
When your state banks get into trouble, who will pick up the tab?
"There are a lot of useful things we could do with some publicly-owned banks, like generate the credit to get the economy whirring again"
And politically motivated loans. Maybe they could help poor credit risks to buy homes they can't afford?
Fiscal Cliff: Let's Call Their Bluff [View article]
Yes! That works so well in Zimbabwe.
"Today nearly all our money originates in banks, which expect to get paid back with interest"
Yes, banks expect the money they loan to be repaid with interest.
I expect the same when I lend money.
"on something they created on a computer screen."
Banks loan money that people have deposited with them.
Banks create money from deposits, not from thin air.
Thanks for reminding me why serious people can't take you seriously.
The Scourge Of Central Banking [View article]
Explain to me the crimes they'd be prosecuted for committing.
Too much lending?
Securitizing their mortgages and selling the MBS?
Buying someone elses MBS?
Holding too many mortgages? Selling too many mortgages short?
Do you want to prosecute them now for lending too little?
For paying their employees too much? Too little?
First Steps Toward A European Banking Union [View article]
Ummmmm....banks can borrow from the Fed at 0.75%, not 0.25%.
And the Fed pays 0.25% on excess reserves, not 2.25%.
What is math like on your planet? LOL!
Bernanke: We Must Be 'Humble' [View article]
Maybe we should make martgage lenders like public utilities?
We could call them Fannie Mae and Freddie Mac.
What could go wrong?
The Output Gap: Welcome to the Balance Sheet Recession [View article]
Don't you mean earned?
"It is because the system is heavily tilted in their favor through their use of global labor arbitrage, favorable tax treatment"
Yes, our highly progressive income tax combined with the highest corporate tax rates in the world make it easy for evil rich guys to make all the money. LOL!
"Democracy and a healthy economy depend upon the middle class"
And the middle class depends on rich people for jobs.
"and wealth has been being transferred from them to the rich for a generation now"
That's funny. We need lower taxes, not higher.
Returning to a Gold Standard Is a Bad Idea [View article]
Lower prices, bankruptcy, massive unemployment and reduced GDP due to a deflating money supply is a bad thing. A very bad thing.
On Dec 30 04:51 PM huangjin wrote:
> If deflation is so terrible, how does the electronics industry survive?
> Deflation isn't better than inflation because of a value judgement.
> Deflation is better because it is the natural state of affairs.
Fall Down Friday: Cliff Diving Special [View article]
Who are you kidding, your looter won!
The 'Crash JPMorgan' Campaign [View article]
Don't know how to make money?
They made almost $19 billion last year, over $17 billion the year before last. Over $14 billion in the first 3 quarters of 2012.
I think they know how to make money.
The 'Crash JPMorgan' Campaign [View article]
How did they socialize their losses?
The only firms I can think of that did that were Fannie, Freddie, GM and Chrysler.
The Scourge Of Central Banking [View article]
Exactly! Next month, when they don't get the interest payment, their earnings are reduced.
"The banks are moving those earnings forward to now"
Selling a bond marked at 106 at 106 moves what earnings forward?
How? Please explain further.