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  • New York AG Report: Wall Street Stole Bonuses from Taxpayers [View article]
    Dodd seems to think otherwise. Although his recollection was typically fuzzy, he inserted language protecting previous contracts for management in at least one of the bailouts.
    Fraud investigations seem more necessary with every piece of information. Washington knows they would be brought down too.
    Aug 3, 2009. 01:51 PM | 3 Likes Like |Link to Comment
  • Thoughts on Auto Nation and Handout Nation [View article]
    Looks like you have the right idea. Hold your nose and make some money. Well, I have the first part down.
    Aug 3, 2009. 12:10 PM | Likes Like |Link to Comment
  • Another Quarter of Real GDP Decline: Prescription for Collapse [View article]
    The debts kept piling up during "prosperity," covering the real decline for average Americans in the shrinking private sector and enabling a free-for-all on Wall St., government, and corporate upper management.
    We were staggering before the collapse. This article points out facts that are likely to be labeled "negative" by the don't-worry-be-happy crowd. Do we have enough normal Americans left with an adult attention span to see this?
    Aug 3, 2009. 11:12 AM | 2 Likes Like |Link to Comment
  • How Can We Regain Confidence in Financial Professionals? [View article]
    Fiduciary liability and having the manager's personal funds invested makes sense to me. Large funds might then finally act as a force to change the criminal mischief at the top of American corporations.
    Aug 3, 2009. 11:01 AM | Likes Like |Link to Comment
  • China Tries to Solve Its Dollar Problem [View article]
    Bilateral agreements make complete sense and are the easiest step away from the dollar. But to make a successful consumer society has been the purview of the once-free-enterprise societies in the West.
    It is unusual if a top-down dictatorship like China were to successfully increase freedom to citizens to increase consumerism. They save so much because they know that a government with total power is arbitrary and untrustworthy (user 535732).
    We are heading to state socialism and failure by the elites seems to gain them even more power. Our rights in the Constitution have been our greatest asset but power vested in the people is inconvenient and messy and is being ignored by the people and attacked by our leaders.
    Aug 3, 2009. 08:43 AM | 7 Likes Like |Link to Comment
  • Citi's $100 Million Payday (NYT) [View article]
    Look for our "ready, shoot, aim" government to hold up pay for legitimate performance while the worst on Wall St. slithers through unscathed.
    Show trials, like Martha Stewart for insider trading, are a good example of government work. Early 08 the Senate conducted a full month inquisition of Roger Clemens. Wall St. tremors were much in evidence by then, but the seriousness of athletic drug use was a far more pressing issue to our political leaders.
    Anyone who favors more government involvement in anything must have little clue what they're asking for. Unlike the beneficiaries who know just what they're after.
    Aug 3, 2009. 08:24 AM | 5 Likes Like |Link to Comment
  • Accelerating Bank Failures Refute Recovery Hype [View article]
    You don't expect Wall St. to work towards a functional financial system just because the sheep handed them 10's of $trillions, do you?
    They must feel quite confident as their bench of sold-out candidates if quite deep even if we toss incumbents for awhile and MSM along with government schooling keeps Americans clueless and nearly without recourse.
    I noticed at the sellout of Bear Stearns organized by Paulson that GS paid less than the cost of the headquarters tower. Seemed unpatriotic at the time. Just a taste of the total sellout to come.
    Government is a fine example of failure and was codependent on the financial sector's smoke and mirrors to prop up their own. Fully bloated now they need to prop Wall St. to continue any pretense we can support their unaffordable parasitism.
    Can Americans wake up in time to end this farce?
    Aug 3, 2009. 08:12 AM | 5 Likes Like |Link to Comment
  • Cash for Clunkers: A Cautionary Tale for Healthcare Reform [View article]
    The healthcare plan will increase abortions, decrease any choice of methods outside the government template for, say, cancer treatment, ration that, impose euthanasia on the elderly and mandate sex-change coverage. I'm betting on it.
    The government may learn from cash for clunkers an easy way to dispose of the elderly. Don't bet against it.
    Aug 2, 2009. 09:08 PM | 6 Likes Like |Link to Comment
  • Google's Ad-Sales Reporting Is the Real Newspaper Killer [View article]
    The best new successes are, like Google and Apple, able to present you intelligently with information and great choices that you may be very willing to spend money on. You can clearly see benefit without hype or coercion.
    Old-line ways of thinking are to coerce, cheat or force you to spend. The monopoly cable company. The annoying scam ads on the internet or anywhere else. The government.
    The government is the worst example of old-line thinking that I hope gets brought down to an intelligent size as it's only been able to grow so unreasonably at the point of a gun.
    Free association and minimal coercion with lower overhead is the web at it's best and is an example of where future prosperity can grow from.
    Aug 2, 2009. 08:30 PM | 1 Like Like |Link to Comment
  • Taking an Honest Look at GDP Calculation [View article]
    A former middle class worker could once support a family while one parent stayed home. Now, additional restaurant meals, daycare and barber are added to GDP despite their newfound necessity to the now more-impoverished family.
    The evils associated with this system that, not incidentally, raises more taxes on top of the doubling, tripling (after inflation) that have taken place are self-evident in the destruction of the family.
    Our government has it's groping hands everywhere now and won't let the system just die that gave us middle-class impoverishment during "prosperity." Expect more funny numbers and taxes on anything and everything including barter.
    Aug 2, 2009. 03:45 PM | 11 Likes Like |Link to Comment
  • California's Pension Problem: Shockingly Irresponsible [View article]
    Connecticut's spending spree began soon after they got a full-time legislature. Example: In '83, only a few years later, spending was $3.3 billion. Now it's about $20 billion and property tax is utterly onerous even though an income tax was also added. Teachers unions got statewide highest US compensation mandated and the state failed to match funds as promised.
    Insane spending, whatever the government, is the problem. Whatever the tax system. Politicians buying votes have given us a debt-addicted misallocated crony capitalist private sector and countless government voters who must be appeased while they stifle opportunity for the rest of us.
    There is no tax system that can support our present bloated governments.
    Aug 2, 2009. 03:17 PM | 9 Likes Like |Link to Comment
  • 1929 All Over Again? [View article]
    I just don't see the source of positive GNP to match recent stock movement. There have been negative correlations in the past as you show.
    The federal government went from about 5% GDP to 10% GDP during the thirties. That and all government is multiples higher now. We were far more solvent and self-sufficient then. I know that markets are often known to signal the economy but we are in uncharted territory not only fiscally but with a captive MSM and market manipulation.
    We came out of "prosperity" with appalling debt. We are digging deeper much faster now. Statistics are gamed more than ever. I trust my lying eyes over the spin from our "leaders."
    Aug 2, 2009. 05:43 AM | 6 Likes Like |Link to Comment
  • Recession Is Over: Long Live Depression [View article]
    "We are in a deeper hole than when the recession began" says it. Unfortunately, Bernanke believes that the example of skyrocketing debt through WWII prior to the end of the Depression makes it acceptable.
    Government takes to excessive spending naturally. The captive media makes sure Americans don't focus too much where the spending is going.
    When we can't issue trillions in dollar-denominated debt we will lack the flexibility we could have had to soften the blows. We will be looking out of a much deeper hole.
    Aug 2, 2009. 05:25 AM | 23 Likes Like |Link to Comment
  • Book Review: The Road Ahead for the Fed [View article]
    Like Bernanke, regulators will fight the last war. Good point by jamesesq that Scholes' work has already inflicted incalculable damage.
    As with many Nobel winners of the Peace Prize, whose fraudulence I'm more able to spot clearly, prize winners have often made messes the average person is suffered to pay for and bear the price of. Like "interesting" case law for judges, elites propose and the masses bear the burden.
    Regardless of the verity or lack of, the book sounds likely to be influential.
    Aug 1, 2009. 06:57 AM | 3 Likes Like |Link to Comment
  • Questions for Mark Thoma, Bond Auctions, The Made-Up Dollar Decline [View article]
    With Dow Theory confirming a bull market, maybe this bubble is for real. Did I say that? Maybe it's a really good thing the masses are down on their paychecks. Good luck interpreting the smoke and mirrors; I appreciate your ideas.
    Jul 31, 2009. 07:01 AM | 1 Like Like |Link to Comment