wtp

Fed Talking Leverage Reduction: Like a Crack Dealer Handing Out 'Just Say No' Stickers

And the best Fed-watch articles published here.

Should We Give the Fed More Power...Or Maybe Less?

This is a thorough, well-documented addition to the conversation re: the country's core economic issue. Would like to see it circulate widely and strategically. I hope you will continue to follow this theme.

Conor Clark: Surprising Data on Federal Wages

I daresay there's nothing remotely "surprising" about these charts to the average worker in the private sector. The public sector have long and freely enjoyed the "fat of the land" as compared to the gristle grudgingly offered to those others whose equal hours of honest labor are at least as valuable in keeping this republic afloat (and even more valuable today, in hoisting it back to floating status). And mostly they work without even the option of sustained low productvity, unlike those in the public sector -- though I agree that only a small minority of public workers take deliberate advantage of this. Most I"ve known do good conscientious work, but with a great deal more time off and other time- and money-saving benefits than the private sector sees, making productivity easier to achieve. I don't even know that public compensation is "too high," though there is an argument that its current level may not be well-sustainable -- never mind continually increased -- in this environment. But it should be impossible, at long last, to ignore the outsized public-private disparity in the face of such unmistakable objective evidence as you offer here.

An 'X' Shaped Recovery

"X" looks like the perfect graphic -- the fortunes of the rich resume their climb while those of the rest of us continue to tank. This looks to me like the recovery the government has been working on.

Dow Target 6,617, October 25, 2009: Here Is Why

" . . . I hear L. Summers really really wants the job and Obama really really likes Summers, what affect do you think that would have on the market."
Don't know about the market, but the effect it would have on the economy would probably be about the same as the effect on me -- deeper depression.

CRE, Banks and the Case for Regulatory Forbearance

It sounds like something to be considered, though I read you expecting to disagree. Well done.

Buffett's Betrayal

Very good article. Buffett's public rhetoric began to change noticeably a couple of months before the bailouts began. From there, most of his moves have been predictable, though puzzling to admirers. Good job of speaking truth about this financial power.

The Collapse of Effective Demand: Likely to Continue

Bears repeating:
". . . . There is enough to go around, but the realignment of national priorities required goes straight against the grain of entrenched interests, who would in fact have to give something back to the country that has given them so much. . . . "

Goldman Pays Its Pound of Flesh

rest of link -- greenwald/2009/07/13/g... -- but can probobly best be accessed at the site by searching "Goldman."
(Sorry I can't link it more precisely.)

Goldman Pays Its Pound of Flesh

Well, there's this chronology of published reports from 9/19/08 through 7/13/09 that sure seems to suggest some kind of pattern --
"The events preceding Goldman Sachs' new 'blowout profits' " www.salon.com/opinion/...

Goldman Pays Its Pound of Flesh

Yeah, poor Goldman ....

Winter's Coming for the Boomers: Part 1

Because Strauss and Howe publish the theory does not make them right. Because some people disagree does not make them (S & H) wrong. The proper function of a theory, especially a social theory -- unless its bearer is holding a gun -- is to enable us broaden our perspective (if we choose to) in making our own conclusions and decisions, not to dictate personal choices or threaten personal world-views (that's the function of PC). Intellectual rigidity, not theory, is the larger threat.
Come on, chill out.

How to Reform Overdraft Fees

Anybody you write a personal check to has that account's number on the bottom. It rarely caused a problem, and people never worried about it till the mandated issuing of privacy-policy statements prodded interest in "where is my information being shared?" ID theft is more the issue now. I don't care if my name or account number is on my check, but address, phone, DL, and anything else required I will provide in person if there is reason to.

Oh, So Now There Are No Green Shoots?

Petra -- Yeah, I sort of share your short-squeamishness, but maybe we'll both get over it soon. Covered calls, if that's at your comfort level, and well-minded stops. Watch the inflationary trend, and maybe have a Plan B for some of your cash in the event -- agriculture or water, possiblly, or better yet, their suppliers (potash, pumps & valves, etc.) Five years is still too murky for me, and I hope others here more qualified to help with that time-line will reply, but I admire your faith and wish you luck.

Why Bank Fees Need to Be Regulated

It's probably true that life would be fairer if everyone had easy access to Quicken, or a personal accountant, or even the time, peace from how-to-feed-the-kids issues, and perfect math and concentration skills to daily reconcile their banking records without error. It is not true that banks should perpetuate life's unfairness by taking ravenous advantage of these lacks.
In the '90's, BAC (where I was working at the time) elected to change it's posting policy so that customer items would be posted in order from largest to smallest amounts instead of vice versa. This allowed a lot more NSF fees to be collected each night. I doubt that many of the irate customers bought the official excuse that this was to enable their "more important" items (mortgage and car payments) to be paid even if funds were insufficient for the smaller items. I know I didn't.