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Leftfield

Leftfield
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  • The Problem with Loan Modifications [View article]
    Article and comments make sense to me. Should have been applied to banksters from the start. Our leaders, Wall St. and Washington, get undreamed-of payscales for either new ways to rob us or for abject stupidity. No one misrepresenting us thinks anything through from our standpoint.
    Jul 29, 2009. 10:15 AM | 1 Like Like |Link to Comment
  • SoCal Homeowners Did This to Themselves [View article]
    Congress: Ready, shoot, aim!
    Often wrong, never in doubt.
    Jul 29, 2009. 08:49 AM | 1 Like Like |Link to Comment
  • Five U.S. Banks Are Too Big to Exist [View article]
    The present misrepresentatives protect the oligarchs to protect themselves. Bring down those banksters and most of Washington would probably go with it.
    Jul 28, 2009. 05:04 PM | 15 Likes Like |Link to Comment
  • Microsoft Needs Some New Ideas [View article]
    You might as well expect innovation from Washington. I'm sure their ossification is cultural. I figure CYA abounds. I can't imagine someone with a revolutionary idea successfully selling it to management. They would have to leave Microsoft like Microsoft left IBM.
    Jul 28, 2009. 06:59 AM | 6 Likes Like |Link to Comment
  • Economic Talks with China: Not Likely to Accomplish Much [View article]
    Washington would continue with cap & trade even if it were proven C02 emissions cool the planet. It's too good for their bent of controlling and shaking down everybody and for Wall St. That's how Washington is now. Let no facts interfere with their plans.
    Which is dangerous as their grotesque over-involvement has brought us very low now and the world's players are not their subject citizenry.
    It is the false economy of overindebtedness for consumption that gave rise to a super-sized financial sector and bloated government. They are desperately trying to reflate the failed engines from the collapse along with their surreal agendas built on decades of rising hubris.
    They can't forestall reality forever. They are meanwhile inflicting vast damage on the former middle class here and endangering us with their humiliating antics abroad.
    Jul 28, 2009. 06:50 AM | 2 Likes Like |Link to Comment
  • Forget the 1930s; We're Reliving 1975 (Part II) [View article]
    Let's see, we are the biggest debtors in history, as opposed to being the largest creditors in the 70's. We have zombie states and banks galore now, propped up by the ever-handy pretend dollar (I vote we put Nixon's portrait on it). Detroit is virtually no more, propped up by the ever-handy DC magic wand, which all the above are using or expect.
    We have decades of declining average pay, coupled with unprecedented wealth disparity. Capped by multi-$trillion bailouts of Wall St.
    Come to think of it, most of these contrasts are even more striking against the 30's. But,, then, Washington went from 5% to 10% of our economy. Now it's some multiple of that and their groping hands are everywhere. Do you feel safer and more sure of the future?
    Jul 28, 2009. 06:33 AM | 10 Likes Like |Link to Comment
  • Exit Strategy: An Argument Against Bernanke's Reappointment [View article]
    atlasman is completely right.
    Jul 27, 2009. 10:45 AM | 1 Like Like |Link to Comment
  • High Frequency Trading: We Fear What We Do Not Understand [View article]
    It's hard for me to believe that Wall St., especially GS isn't way too dangerous. The complicity with Washington with their hands in our pockets for $trillions followed serial debacles over decades giving us plenty of warning.
    GS gets a pass and a revolving door to Washington while we watch them catch Martha Stewart and incarcerate her for insider trading. And Elliott Spitzer gets banished to the fringes just before the meltdown.
    Some argue that concerns over executive bonuses and HFT are overblown. I think we need more of it as our futures depend on it.
    Jul 27, 2009. 10:30 AM | 10 Likes Like |Link to Comment
  • Plan Black: How to Really End the Financial Crisis [View article]
    Knock me over with a feather. You say depositors are the most senior caimants in a bank failure, absent government meddling. What are we waiting for? Might wake up the public.
    Good points, that our financial system involves the nonproductive having claims on the productive. That loans for consumption are not sustainable at high levels and that capital would continue to be available for productive purposes even with this proposal.
    Of course, government at present high levels would be seen as unsustainable and as the wasteful, useless, counterproductive fraud it is, that is symbiotic with the same in the bloated financial sector we have and thus, our tax dollars will continue to be used against us.
    Jul 27, 2009. 10:05 AM | 4 Likes Like |Link to Comment
  • How Flash Orders Work [View article]
    Watch out when you have show trials that catch....Martha Stewart (insider trading!). Leona Helmsley, not PC at all. Charles Keating hung like these others as misdirection to the public from what the other hand was doing while McCain barely paused along his life of privilege.
    Wall St. has lurched all along through ever-greater debacles, enabled by DC. Now we have the mother of debacles and Wall St. skates again, this time with real money from the little guy while the GS-DC revolving door keeps spinning and providing this interesting sample of their work.
    Yes, it's even worse than Martha Stewart. I'm amazed that anyone would conceive, pay for the construction of, pass through and actually install this system. What a complete indictment of our lowlife leaders!
    Jul 26, 2009. 10:15 PM | 4 Likes Like |Link to Comment
  • The Coming Commercia Real Estate Bailout [View instapost]
    Politicians get more graft to play with the worse they do for the people. Make the economy a shambles and the payoff amidst the debris is all the greater for them. That is, unless the voters ever consider the option of voting out incumbents repeatedly until we get real representation.
    Jul 26, 2009. 08:29 PM | Likes Like |Link to Comment
  • No Exit for Bernanke [View article]
    Don't forget the power the US government has used so much: Phony statistics. As when oil was $150/barrel and all commodities were soaring last year, we had low inflation. And the same mainstream media that parroted the message that subprime was a small part of a small part of the economy, housing, parroted that commodities loomed far less in our post-modern, post-reality economy than in the 70's.
    So, unemployment and inflation will not be soaring, they will say. But, like decimated tax collections, interest rates are less subject to "mark to magic." Perhaps the introduction of enough toxic, I mean, legacy assets onto the markets will create enough deflationary forces to keep inflation under check. And allow more QE.
    Still won't help un- and underemployment and inflation in the real economy. That's a problem for the little people; they expect it can be handled with enough PR.
    Jul 26, 2009. 08:35 AM | 9 Likes Like |Link to Comment
  • Irrational Exuberance of the Green Shoots [View article]
    One step to take: Take government employees, have them do their chores around the office for free and count them as employed.
    We have a most toxic combination of incompetent and utterly amoral leaders who seem allergic to doing the right thing. The economic dissonance you write of (surging financials, moribund economy) reflects the general cognitive dissonance in our society that has no choice but to resolve via the hard realities we won't escape much longer.
    Thanks for an enlightening article.
    Jul 24, 2009. 09:59 AM | 9 Likes Like |Link to Comment
  • There Will Always Be Wal-Mart and Amazon [View article]
    Steve Jobs is another deserving CEO. But most of them, along with the whole leadership class are Marie Antoinettes. Someone in politics has to sell a government that serves and doesn't take another chunk out of the little guy again. The paradigm has been: Here is your dysfunctional lousy program with no possible future of getting funded but for smoke and mirrors and here is your huge new tax and regulatory burden.
    Real leaders could weed the jungle of failed and cross-purposed programs, offer real solutions and......Savings. We'll need them to pay off the mess we've created so far.
    Jul 24, 2009. 09:40 AM | 2 Likes Like |Link to Comment
  • Mature Market Uptrend becomes 'A Flight To Risk' [View instapost]
    Thanks. I know you tell the facts as you see them in a dispassionate manner, but they tell the story of an onslaught of "stupid trade" for decades and no respect for Intel or GE for bringing good jobs home. If Boeing had thought of that they might have a Dreamliner in production. I find it hard to swallow the phony prescriptions of our sold-out leaders whose messages are amplified via concentrated sold-out media without thinking they are either evil or stupid. I think both.
    Jul 24, 2009. 01:12 AM | Likes Like |Link to Comment
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