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GotLife

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  • Recession? No. We're In The Second Great Contraction [View article]
    Recovered, less housing. The great housing bubble has been subtracted from the 2007 economy and is reflected in the graph. Are there really those that expect a return to the glory days of no doc, zero down, mortgages?

    It is what it is and will be for quite some time.
    Sep 1 07:44 AM | 2 Likes Like |Link to Comment
  • mREITs' 4 Worst Case Scenarios From Ben Bernanke's Speech [View article]
    Loss of jobs are the problem causing individuals to default on mortgages. Conclusion: Fix mortgages.

    As my five year old grandson says, "Helloooooo?"

    Why not work on fixing the cause, jobs, rather then the symptom? Because they just don't want them here. Jobs burn carbon, consume water, increase human population, especially immigration, and generate other outcomes the anti-business crowd deems unacceptable.

    And, they don't care how great the decline since it doesn't affect their protected status. The pain will have to get greater before the anti-business crowd becomes the slightest sympathetic.

    Jon Huntsman was asked at the Iowa debate why the majority of his employees, 10,000 out of 12,000, work in China and India rather than the USA. Answer: You can't build a plant in the US.

    Case closed. America closed.
    Aug 26 07:28 AM | 1 Like Like |Link to Comment
  • Kansas City Fed President Thomas Hoenig - the central bank’s longest serving policy maker - says the real problem facing our economy is bad debt, and a quick-fix monetary policy isn't the cure-all. He asserts that if we don’t turn our focus to the long run, "we will be dealing with overnight crises for as far as the eye can see.”  [View news story]
    Europeans are already doing this. Has it helped them?
    Aug 25 09:29 PM | 1 Like Like |Link to Comment
  • Economists Refuse to Recognize the New Great Depression [View article]
    Michael,

    Haven't read one of your posts in a long while. Must admit they always set me to ponder and reflect. Never a quick recipe but a reflection of the world's and life's complexity.

    Personally, I always enjoy the chaos in the world caused by the butterfly as it lands in Central Park.
    Aug 19 07:28 AM | 1 Like Like |Link to Comment
  • Economists Refuse to Recognize the New Great Depression [View article]
    "When you have no hard assets to back up your currency..."

    Aren't homes, offices, government owned lands, factories, highways, productive farm lands, etc. all hard assets? Since they are denominated in US currency and readily traded for the same, don't they provide a backing for the US dollar? Doesn't the same apply for shares of US companies or even intellectual property?
    Aug 19 07:19 AM | Likes Like |Link to Comment
  • Economists Refuse to Recognize the New Great Depression [View article]
    "When the US dollar isn't worth anything then you can trade gold or silver for goods and services."

    Will State Farm accept it for my insurance payment? How would I pay utilities? With shavings? While confident it is a store of value, I remain skeptical of its usefulness as currency.

    "Bring our manufacturing jobs back and the economy will improve..."

    They are not coming back. In fact, most no longer exist, in China, Mexico or elsewhere. Machinery, automation, software and computers have radically altered the manufacturing landscape. Witness an automotive radiator plant newly built in the USA. 300,000 radiators a year with 12 people, total, for all three shifts.

    And, NIMBY is still stronger than the need to eat in the USA. That might be changing...
    Aug 19 07:12 AM | Likes Like |Link to Comment
  • Economists Refuse to Recognize the New Great Depression [View article]
    Why will China grow versus the West? They have greater resource demand than anyone else with fewer natural resources to offer in exchange or consume. Seems the opposite outcome is more likely if outcome is based solely on hard assets shared amongst a population.
    Aug 19 06:55 AM | Likes Like |Link to Comment
  • HP to Apple: You Win [View article]
    The printer group inside hp is equally to blame, if not more so. Dominating the print space in the consumer market led to the arrogance to believe they could replicate their successful engine in PCs through the Compaq merger. Unfortunately, the real source of their margin success in printers is ink. PCs do not have a razor blade model. Never did. Another grad school business case to learn...
    Aug 19 06:33 AM | 4 Likes Like |Link to Comment
  • The debt ceiling deal (I, II): "First big step toward fiscal rectitude" by the U.S. government, or a "blank check" paving the way for ever higher levels of federal spending?  [View news story]
    We decrease spending over a ten year period equal to what we increase the debt over a one year period. In real or nominal dollars?

    I don't have a BA in Math but if done every year for ten years, wouldn't that leave the debt 10$ Trillion higher, with "cuts" of 5.5, for a net of 4.5T. If calculated in real dollars, that seems like a 30% real increase over 10 years, not a decrease in spending and probably 7% in nominal. Of course they voted for it!
    Aug 1 08:47 PM | 1 Like Like |Link to Comment
  • Less Resurgent Than We Thought [View article]
    "When transactional money increases, prices of goods tend to increase; asset markets, however, sometimes act as a ‘relief valve’ for inflationary pressures, which end up spawning bubbles rather than triggering inflation in goods and services. People who have extra cash, courtesy of the extra amount sloshing around in the system, can either spend that cash or invest it. If they invest it at increasing market valuations, it drains some of the inflationary pressure (I need to stipulate “increasing market valuations” in the argument, because obviously every dollar I spend buying equities is just transferred to the person selling me his shares) that would otherwise bid up goods."

    Isn't this exactly what the Fed would like to accomplish? Inflate the value of asset classes like the market and housing without seriously affecting wages, goods and services and you might be able to restore a net wealth rally in the economy without the obvious inflation. This also gets their banker friends back into the investment cycle.

    If that is the end game, and it seems to me what was in play 2003-2007, the possibility might exist. But I view it as unlikely because the individual investor class has been burned on consecutive bubbles, the dot.coms and real estate, and might be suspect of a new ploy.

    Of course, we haven't tried tulips in a while...
    Aug 1 08:31 AM | 3 Likes Like |Link to Comment
  • Paul Krugman assails the media for failing to "acknowledge the one-sided role of Republican extremists in making our system dysfunctional." Making "nebulous calls for centrism, like writing news reports that always place equal blame on both parties, is a big cop-out," Krugman writes, which "only encourages more bad behavior."  [View news story]
    WMARKW,

    It's "his" picture! And, he's got a bunch of aliases to give himself likes. Pitiful, no?
    Jul 31 11:43 AM | Likes Like |Link to Comment
  • Paul Krugman assails the media for failing to "acknowledge the one-sided role of Republican extremists in making our system dysfunctional." Making "nebulous calls for centrism, like writing news reports that always place equal blame on both parties, is a big cop-out," Krugman writes, which "only encourages more bad behavior."  [View news story]
    Tomas,

    This is his "real" job. Paid troll. Why in the world people feed him is beyond me.
    Jul 31 11:41 AM | 2 Likes Like |Link to Comment
  • Why the Market Was Terrified Yesterday [View article]
    37 comments and not one single investment idea. Just rants against the John Birch Society, the tea party and Republicans, along with the usual talking points.

    Another paid troll takes to SA convincing others through denigration, repetition, and bigotry. Priceless and,

    humorous.
    Jul 28 08:34 AM | 9 Likes Like |Link to Comment
  • Rooting for a Crash [View article]
    Think I saw that show and the ones where Ben Stein was pushing Citi. Hey, if you liked it at $60 your going to love it at $30! And, you'll be rapturous at $3, right? Think that is why Ben is back making commercials and movies.
    Jul 27 01:03 AM | Likes Like |Link to Comment
  • Rooting for a Crash [View article]
    Didn't you repeat yourself?
    Jul 27 12:59 AM | Likes Like |Link to Comment
COMMENTS STATS
1,214 Comments
2,591 Likes