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  • A New Productivity Revolution [View article]
    I'm always puzzled at the use of statistics whose makeup has changed. Productivity is one. How is it necessary to have two worker families who live less well than one worker families 40 years ago in the face of all this progress? And, productivity statistics are hugely affected by ridiculous inflation calculation methods used now and their change from the past. Constant inflation calculations wipe it out. With so many in government and Wall St. wasting resources, how can the shrinking private sector make up the difference?
    As interesting commentary and information from a site like SA is a step forward, OR books is a natural extension of existing technology for good. I suppose Amazon won't be interested for now as their traditional sources would be apoplectic.
    Jun 19 11:44 AM | 5 Likes Like |Link to Comment
  • Solution to Our Economic Mess? Limit Leverage! [View article]
    The suggestion that "underwriters hold 5% of equity offerings or corporate bond offerings" is a piece of a solution, but management compensation and the lapdog corporate board "oversight" is central, not a diversion.
    You mention that the Wall St. products that have hit the fan involve trusting middlemen that due diligence was done in, say, mortgage packages. No, the system and people still in place make all the money and do none of the heavy lifting. The "reform" just proposed by Obama is another employment bill for empty suits who extract wealth by any means necessary, Wall St. and DC, and go round and round with self-important charades adding layers to their games followed by impotent, expensive "fixes." As the example of LTCM illustrates, there have been no shortages of warnings and the payscales on Wall St. and Washington actually encourages more of the same.
    Yes, the fix is on. Wall St. is a middleman to a long term shakedown of America along with enabler DC. When you have a Steve Jobs with an inspired product and business that is actually, really his creation, you can trust far more. We've handed so much to empty suits who are middlemen and what have we got to show for it?
    Jun 19 07:24 AM | 6 Likes Like |Link to Comment
  • Obama's Financial Proposal: Why It's Too Soon for Reforms [View article]
    It's all about politics right now. All major decisions invoke unclear new layers of law and bureaucracies. The idea is to mush things up even further to allow those in power even more advantages. We're left with the spectacle of the former icon of industrial might and success, GM, a bankrupt vehicle for political patronage and favoritism run by a 31-year-old campaign worker. But, no SUV travel for Wall St. bank executives who are the most contemptibly guilty reverse Robin Hoods of all time, just trillions for failure.
    Our overpaid leaders think their mandate is more of the same. We need some serious game-changing elections if the middle class is to survive in America.
    Jun 18 11:50 AM | 2 Likes Like |Link to Comment
  • 3 Thoughts on America's Regulatory Overhaul [View article]
    Executive compensation not included? There needs to be a long-term focus so bonuses aren't upfront and risk later. That's central, not peripheral. But, the whole mess of the proposal, with it's turgidity and incoherence is a thing of beauty to the revolving-door lobbyists.
    Jun 18 09:27 AM | 1 Like Like |Link to Comment
  • The Risk of Global Economic Meltdown [View article]
    In the 70's we were the world's largest net creditor nation.
    Jun 18 01:17 AM | 2 Likes Like |Link to Comment
  • U.S. Credit Card Defaults Soar to Record High [View article]
    Repeat: "This is a downward spiral which the US government has done nothing to arrest." All our taxes, all our regulation, saddled with more trillions of Wall St. debt and there is nothing that will help the average American who finds themselves in trouble, even if by no fault of their own in these times.
    Record credit-card delinquencies so soon after the record Visa public offering just a couple of years ago. Someone had an inkling when to cash out/in just as the bankruptcy law changes signaled someone knew something just before the Wall St. products hit the fan. Elliot Spitzer was removed with impeccable timing as well.
    American Express and GMAC quickly became banks for bailout eligibility. And, probably why BAC swallowed Countrywide and Merrill under some DC pressure, I understand. Makes bailouts easier for our overworked public servants. I will support a bill to allow individuals to become banks to qualify for bailouts.
    Jun 17 01:03 PM | 2 Likes Like |Link to Comment
  • Regulation Week: What Do Consumers Need Protection from? [View article]
    Another agency. To do what the previous countless agencies haven't. They'll be another to add to this one soon enough. Good jobs there, though; Federal government will be the last to lay off. They'll fight that to our last dollar.
    Jun 17 11:46 AM | 7 Likes Like |Link to Comment
  • Living with the Real Time, Now, Generation [View article]
    I want to know, will this generation which is being sent into the world with unprecedented debt from greedy, stupid forbears will actually throw off the shackles that imprison them. When they get jobs as suits passing edicts and requirements around in an office, with a mortgage and whatever to pay, they may follow their parents into cognitive dissonance.
    Jun 17 11:37 AM | 1 Like Like |Link to Comment
  • Problems with Financial Sector Reform Proposals [View article]
    Thanks for doing the heavy lifting and reading the stuff. We're here because of innumerable overpaid suits not doing the jobs their record pay scales call for. That's where growth has been in incomes in this country. Now we have more requirements for suits, set up by suits with no common sense or worse, and failure is inevitable.
    It's all a game. If there are enough voters with sense, this could end eventually. No sign of that yet.
    Jun 17 11:10 AM | Likes Like |Link to Comment
  • Viewer's Guide to President Obama's Wednesday Regulatory Reform Announcement [View article]
    I agree on all succinct points made in the article. If all that were addressed satisfactorily we would finally begin a road that could possibly lead to future prosperity in the US for the many, not just the cronies.
    The point of the damage done to our national debt to the tune of 40% rising to 80% courtesy of Wall St. needs to be repeated far and wide.
    I await Obama finally rising to the occasion. Time and opportunity are passing.
    Jun 16 11:19 AM | 2 Likes Like |Link to Comment
  • Is the U.S. Style Securitization Model Dead? [View article]
    All that crap sold based on borrowers who couldn't pay. Leveraged to who-knows-where? Without a real outing on Wall St. (which would have a salutary spinoff in DC) we're just supposed to throw trillions at it.
    Nice observations.
    Jun 16 11:07 AM | Likes Like |Link to Comment
  • Socialized Medicine Is Coming [View article]
    I think lawyers deserve a mention. Loser pays, like everywhere else in the world, would eliminate the situation where, there are more lawyers in Manhattan than in all of Japan. Of the innumerable stupid policies we've had, that one cuts across most issues, like, our industrial decline and general enslavement to costs and taxes besides, especially. healthcare.
    Jun 15 11:08 AM | 8 Likes Like |Link to Comment
  • Japan's Faith in Strong Dollar Policy Is Laughable [View article]
    I'm not sure how much words mean by leaders. Japan is issuing some debt in Yen, I believe.
    Interesting times. Japan and to some extent, Germany have kept rather quiet since WWII. Japan has had bad times and an aging demographic and so may defer outwardly to the US yet.
    Times are changing, though. I think the constant is that the banksters have hobbled the US and that has been their major goal. Listening to the once-mighty, now craven supplicant industrialists from GM talk of the partnership of government and industry shows how the real power is in Wall St. with their DC handmaidens. Stupid trade and stupid policies have spent our real power on misallocation, military and debt. Don't assume the US won't act like Japan if we're going through our economic version of WWII and come out stripped of reserve "currency" status.
    Jun 15 10:13 AM | 1 Like Like |Link to Comment
  • On Deleveraging, Deflation and Debt [View article]
    Looking at 2 centuries of inflation/deflation you see as much deflation as inflation before the Fed and only two short bouts since. The Fed wants to prop up leverage so Wall St. can play its games and that means no deflation and no real reckoning for malinvestment. I believe inflation is in the cards for that reason regardless the cost and difficulty.
    Jun 15 09:48 AM | 3 Likes Like |Link to Comment
  • On Ponzi Schemes and Stimulus Fraud [View article]
    $50 billion is a drop in the bucket compared with the magnitude of the waste in the actual pork and bailout plans. Just a cost of doing business. They'll print up some extra Federal Reserve Notes, it's covered.
    Jun 15 08:42 AM | Likes Like |Link to Comment