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daro

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  • Is The Fed's QE3 Liquidity Finally Starting To Flow? [View article]
    frank,

    I think the only place where money was lost was the government bailing out GM and I am not sure whether they lost anything in AIG. but those deals did not involve the fed. the fed bought stuff at the dead tick bottom. and that is because they acted as true lender (or buyer) of last resort. while those maiden lane deals looked terrible when they did them, the fed ended up making money on them. I am not sure what you are talking about.
    Nov 18 07:25 PM | 2 Likes Like |Link to Comment
  • Understanding The Fed's Primary Purpose [View article]
    i think you are right
    Nov 18 05:53 PM | Likes Like |Link to Comment
  • Is The Fed's QE3 Liquidity Finally Starting To Flow? [View article]
    frank,

    forgot to mention that my downpayment was about 28%
    Nov 18 12:29 PM | Likes Like |Link to Comment
  • Is The Fed's QE3 Liquidity Finally Starting To Flow? [View article]
    frank,

    no, MOST (not all) areas are doing well as demonstrated by every data point on housing this year.

    FHA lends with 3% down and has doubled loan volume ( and defaults) through the crisis. it is no surprise, they need more cash to cover defaults. but you are not seeing those levels of defaults with other agencies or lenders. when I financed my home in early 2011, which was underwritten by a large NY based money center bank and immediately sold off to fannie mae, they were so careful and conservative i was wondering how anyone got a loan from them. I still do. (I own some other real estate that I cannot get any mortgage on). maybe that is why the real estate market is not rallying more? it is super hard to get a mortgage.
    Nov 18 12:16 PM | Likes Like |Link to Comment
  • Understanding The Fed's Primary Purpose [View article]
    cullen,

    yes the fed clears payments in the banking system. it has been doing this successfully for nearly a hundred years. since it works no one talks about it. if it did not work, we would talk about it all the time.

    However, your history is slightly wrong about why the fed was created. it was not created solely to clear payments and smooth out business cycles. it was created so government would have control over those functions.

    In 1907 during the panic, JP Morgan, almost single handedly, bailed out the banking system by acting as a lender of last resort in the classic sense that walter baghote (see http://bit.ly/U8ekUQ) had suggested and was set up by the bank of england. although we had their system to emulate for years, we did not because since the time of andrew jackson we had no central bank (although modified a bit during the civil war). but in the panic of 1907, teddy roosevelt realized that he could not let one banker decide the fate of the US financial system. This was especially true since roosevelt was anti-trust and his arch enemy was JP morgan who controlled many of the monopolies he was trying break up. shortly therafter, congress enacted the federal reserve act in 1913. with difficulty we managed without a central bank until the politics changed.
    Nov 18 09:43 AM | Likes Like |Link to Comment
  • Is The Fed's QE3 Liquidity Finally Starting To Flow? [View article]
    I am in south florida and I bought my home in 2010. where I bought in the high end, the market has nearly doubled, almost back to where it was price wise. in areas catering to high end foreigners, the market is hot too. the rest of the market is much better than before but no where near as good as the high end. there is a lot less supply on the market than a couple years ago. rates are super low. for those who qualify or can buy all cash, deals are getting done. as prices rise more supply waiting to get out from being underwater is coming on the market. this is tamping down the market from getting "hot". but the market is infinitely better than 2009-10. when you lower rates, stabilize the stock market and employment market, and dont build any housing, over time the market will recover. that is what happened.
    Nov 18 09:20 AM | 1 Like Like |Link to Comment
  • Is The Fed's QE3 Liquidity Finally Starting To Flow? [View article]
    jason,

    many completely misunderstand what is happening.
    Nov 17 10:50 PM | 1 Like Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    dr. v.

    lol,
    everyone i have heard of who does not file has ended up in jail. i am not trying one up you. i am giving you free legal advice. file your tax returns.
    Nov 17 06:52 PM | Likes Like |Link to Comment
  • Margin compression at Apple (AAPL) is long-term strategy, not a sign the company is losing its competitive edge, writes Kopin Tan in a bullish front-page Barron's article giving the iPhone maker the nod in its battles with Samsung (SSNLF.PK). "Samsung is running ads spoofing the cult of Apple. Samsung knows what it's like to have an image problem." [View news story]
    brady,

    that is correct. they need to get more sales to avoid android taking over. if they have to drop prices and lose margin it is ok. i am not sure though that is what they are doing. the margin drop is in ipad mini not the phone.
    but price action on friday was good.looked like a capitulation low.
    Nov 17 06:44 PM | 1 Like Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    dr v

    what does a reservation of rights have to do with this thread or your theory that you dont have to pay federal income taxes.
    Nov 16 08:37 AM | Likes Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    Jackacky,

    I understand. but what is your evidence?


    as I said before, the numbers you cited, if correct, show that the tax increases were double the spending cuts. obviously, the tax increases were bigger so they had more impact. what if they were the same?
    Nov 15 03:05 PM | 1 Like Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    mr. jackacky,
    and that is also why we need to cut military spending. the waste and fraud going on there still is outrageous. the only way to slow it down is to cut spending on it (like the social programs).
    Nov 15 10:41 AM | Likes Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    kwm3

    war in europe started on september 1, 1939 when germany and russia invaded poland. the crash of 1937 was long before that. (I dont count the spanish civil war (1936-39) as the war in europe).
    Nov 15 10:18 AM | Likes Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    mr. jackacky,

    I agree except that we need to work towards balancing the budget and fixing the broken social programs that have become unsustainable. we need to compromise. nothing is perfect. that is why the congress allowed a top marginal rate in 1946 of 90%. the effective rate was much lower. remember one thing. the money makers during the war made outsized gains. there was massive overcharging. do you know why harry truman became popular and became roosevelt's running mate? it was because he uncovered tremendous fraud and corruption related to the military industrial complex. no one cried for those guys when top marginal rates went up because of the stealing.
    I am not sure that things have changed so much now. the same could be said for many wall street bankers as far as how they made money.

    FYI, I am not saying that we should go to a 90% top marginal rate. I use that as example, to show that current rates are low (top rate is 35%) and are the lowest they have been in generations. we can withstand a small increase, if we must resolve the debt problem. in addition, I am in the top bracket and will have to pay the increase. so my money is where my mouth is.
    Nov 15 10:13 AM | 1 Like Like |Link to Comment
  • The Fiscal Cliff... Of 1937 [View article]
    dr v.,

    i am an attorney as well. what you wrote is wrong. if you dont file income tax returns you will go to jail. if you dont file, let me know how it works out.
    Nov 15 10:03 AM | Likes Like |Link to Comment
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