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Borbastic

Borbastic
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  • What Elon Musk Is Really Selling [View article]
    What possible evidence could convince you to overthrow your faith in human-caused warming? I know there isn't any. What you are describing is a religion.

    The practitioner's of this "science" operate in a very non-scientific way. They have engaged in data selection, keeping data private, preventing opposing views from being published, etc. As for science being settled, no scientist would say such an oxymoron.

    But you are right that Musk can ride the coattails of other charlatans like James Hanson and Al Gore. Human caused warming doesn't need to be true, you just have to fool enough people enough of the time.
    May 7, 2015. 02:52 PM | 10 Likes Like |Link to Comment
  • Icelandic Proposal To Give Central Bank Complete Control Of Monetary Supply [View article]
    Right. Everyone would be better off if we went back to a barter economy. It would be medieval!
    May 6, 2015. 06:55 AM | Likes Like |Link to Comment
  • Money Is Never Backed By Anything [View article]
    Paper dollars are IOUs. Checking and savings accounts are iou's.
    According the the Treasury, FRN's are obligations of the US. Like all money, they are debts. They are interest free loans to the govt, forever:

    "Federal Reserve Banks obtain the notes from our Bureau of Engraving and Printing (BEP). It pays the BEP for the cost of producing the notes, which then become liabilities of the Federal Reserve Banks, and obligations of the United States Government."
    May 4, 2015. 07:06 AM | 1 Like Like |Link to Comment
  • Utilities Must Adjust To Solar And Not The Other Way Around [View article]
    So capital costs will increase drastically to pay for batteries? It's even worse than I thought.
    Apr 9, 2015. 06:52 AM | Likes Like |Link to Comment
  • Utilities Must Adjust To Solar And Not The Other Way Around [View article]
    "...Integrating solar customers into the grid will limit the capital these utilities must spend and over time improve results..."

    Not true. The utility still needs to have spare capacity for when the sun doesn't shine. Capital costs stay the same while net revenue goes down because of home-generated purchasing of excess. So all the other rate payers subsidize solar leeches in their electric bill, not to mention their taxes.
    Apr 7, 2015. 10:20 AM | 3 Likes Like |Link to Comment
  • Trying To Wrap Your Head Around The SNB And Denmark? [View article]
    I read it. It's not true. Could be a teaser rate on a floating mortgage.
    Feb 2, 2015. 04:41 PM | Likes Like |Link to Comment
  • Trying To Wrap Your Head Around The SNB And Denmark? [View article]
    The world is upside down now.
    Shorting a bond is borrowing. You promise to deliver a government bond some time in the future. The counterparty to that contract would not think your credit is as good as Germany's is (no offense). So they demand a lower price. Your interest rate will be higher than Germany would pay.
    Feb 2, 2015. 03:31 PM | Likes Like |Link to Comment
  • China And Japan Treasury Holdings [View article]
    They don't have any choice. Well they have a little choice. They can keep their dollars in non-interest bearing (checking) accounts. Or they can buy US goods, services, or investments. Or they can stop exporting to US customers.
    Jan 20, 2015. 08:54 AM | Likes Like |Link to Comment
  • Medley Capital: Another Gift From Year-End Tax Loss Selling [View article]
    Read the article
    Jan 9, 2015. 06:52 AM | 2 Likes Like |Link to Comment
  • Chris DeMuth Jr Best Long For 2015: BNCCORP [View article]
    You get a license to print money! What's not to like about being a bank?
    Dec 17, 2014. 07:57 AM | 1 Like Like |Link to Comment
  • What Is Saudi Arabia Thinking? [View article]
    There is no equivalence between a tax cut and a lower price for gas. The money you spend on gas is someone else's income. A tax cut is an increase in everyone's income.
    Dec 16, 2014. 10:17 PM | 1 Like Like |Link to Comment
  • Fake Growth, Fake Money, Fake Jobs, Fake Financial Stability, Fake Inflation Numbers? [View article]
    It gets confusing to distinguish credit money from other money. There is no other kind. All money is debt.
    Nov 10, 2014. 08:27 PM | 1 Like Like |Link to Comment
  • The 'Save Our Swiss Gold' Initiative Is Incompatible With The EUR/CHF Peg [View article]
    I just don't get it. The point of having gold reserves is to be able to defend your money. You know, redeem the paper for gold, or you might say sell gold. So what good is having gold if you can't sell it?
    Oct 26, 2014. 06:11 PM | Likes Like |Link to Comment
  • Interest Rates Are Less Important Than Economists Think [View article]
    He did, obliquely: fiscal policy.
    Oct 21, 2014. 08:33 AM | 2 Likes Like |Link to Comment
  • Facts About Ebola That You Must Know As An Investor, Traveler, Or Simple Citizen. [View instapost]
    I like your blog and I see no reason to take it down. Let's keep in mind that where speculation is concerned, it matters more what people believe than what is true. If people panic over ebola, it hurts the airlines. If people believe there is panic over ebola but there actually is not, it still hurts the airlines.

    Remember Keynes beauty contest analogy?
    Oct 17, 2014. 09:27 AM | 2 Likes Like |Link to Comment
COMMENTS STATS
208 Comments
285 Likes