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Leftfield

Leftfield
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  • What To Hold In The Face Of Deflation [View article]
    "I don't think listening to the economic ideas that turned the 1929 Recesssion into the Great Depression represents wisdom."

    How about the idea that turned the incipient and very sharp post-WWI Depression of 1920 into a 2-year affair? Which was, cutting government spending, i.e: Waste, fraud and abuse, so the private sector could ignite a roaring recovery.

    Or how about the post-WWII slashing of wartime spending which led to the great postwar economic boom and the rise of the American middle class?

    Real value-added entrepreneurs are instinctively and rightly uncomfortable when the economic environment turns to "fixes" for and by the fixers; insiders, cronies and elites combined with a sufficient payoff to welfare loafers to buy enough votes to ensure "success." Such "solutions" have been twisted far beyond even the fevered imaginings of such collectivists as Keynes as public debt levels are artificially held at teaser rates until the trap of higher rates ratifies the insolvency that has already occurred for the West while MMT and "Keynesian" Krugmanite quacks keep up the drumbeat for more of the same policies of misplaced spending and debt that has led to the very pathetic "recovery" that is presently unravelling.
    Jan 20, 2015. 06:11 PM | 1 Like Like |Link to Comment
  • The U.S. Hasn't 'Decoupled' And There Ain't No Giant 'Oil Tax Cut' [View article]
    "You incorrectly are using the START of the recession to describe "jobs created"... a horrible starting point that any basic economist would catch."

    SimpleData - Which economists? The ones who crowd out all others on MSM and in Washington with their endless touts of "best jobs market" and "best housing market" et al, in 5 years, which are always designed to omit pathetic comparisons with any previous norms up until 2008?

    Besides, using a later starting point to improve the relative jobs picture in non-shale oil states would serve to mask that the "recoveries" of their jobs numbers do not equal pre-2008. Thus, the points of the article which are so damning to the endless cheerleading and public debt accumulation by Western "leaders" in economically disastrous attempts to maintain looting by bloated parasitic status quo interests are correct and well-stated, as of course you mainly agree.
    Jan 13, 2015. 02:10 PM | 10 Likes Like |Link to Comment
  • Amazon.com Sees Used Diapers In More Ways Than One [View article]
    3rd-party selling is the cash cow that has underwritten Jeff Bezos' pipe dreams and Ebay CEO John Donahoe's attempts to ape Amazon with high small seller fees and fixed prices rather than the hugely successful auctions that launched Ebay and which are a such a natural fit for the internet.

    Competition has been slow in arriving to the US but new arrivals will be assured of success given the exploitive 3rd-party selling environment Amazon and Ebay have managed to impose to date. Donahoe has finally been sent to the showers and Bezos, whose company is teetering on the brink of disaster, is sure to follow, diaper in hand, when formidable competitors who lack the arrogance the incumbent American giants have developed, force them to respond with real-world policies and seller fees.
    Jan 9, 2015. 12:39 PM | 8 Likes Like |Link to Comment
  • Economic Sense: Greece And The Euro [View article]
    The fact that a Greek default would add only 2-3% to the total debt of the EU scarcely describes the problem since the overall debt is so gargantuan and slumping Western economies can only hope to roll over existing debt while continuously adding to the already hopeless sum total of debt while hoping teaser rates last perpetually.

    Thus con-fidence is the true underpinning of the great Western debt ponzi which will be played for insider and elite enrichment until the scam is too obvious to remain viable which can easily be triggered by the likes of Greece.
    Jan 9, 2015. 12:16 PM | 1 Like Like |Link to Comment
  • It Depends On Where You Start [View article]
    Now we know why the "5% GDP rate of growth" headline figure for the last quarter was conjured up by the government dataheads recently. Kind of a window dressing to insert one robust figure into the brains of ADD-afflicted US voters that will insulate them from the ongoing stagnation and decline that they will soon be unavoidably hearing about, however replete with all the "weather-related" and "transitory" caveats that can be invented to sugar-coat continuing policy failures.
    Jan 7, 2015. 11:52 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Eurozone Prices Fall For First Time Since 2009 [View article]
    Bob 123 - SSDI has become a surrogate welfare program for fast-increasing numbers of claimants with squishy "disabilities" such as the perennial catchall of back injuries, and ever-elusive fibromyalgia, whose applicants reliably soar when job prospects and worker's compensation run dry.

    Taxpayers are ill-represented in the halls of government as it is, so many are willing to run the risk of appearing "stingy" if that is what it takes to advocate reducing epic abuse of programs such as SSDI as a necessary start somewhere, anywhere, to begin the long journey of returning Washington's budgets to some semblance of sanity.
    Jan 7, 2015. 10:43 AM | 8 Likes Like |Link to Comment
  • How Much Further Will The Dollar Rally? [View article]
    Thanks for the interesting and notable non-correlations in the price movements of gold/dollar and in ruble/crude as well as pointing out some of the extreme sentiment and trader positioning in currencies with recent background information.

    It is information such as this that has potentially great value to readers as it aids them on their quest to become or remain, filthy rich:).
    Jan 7, 2015. 10:11 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Eurozone Prices Fall For First Time Since 2009 [View article]
    "The Eurozone is now comparatively a cheap market, especially with the fall in value of the euro. For those with patience, now is a good time to seek out the cheap stocks there, or invest in a Europe mutual fund or ETF."

    Or: The power of financialism to sustain ever-growing parasitism and plunder by insiders is meeting it's demise in the socialist paradise of Europe sooner than in the US. The fact that RIQ who has a blind spot for the almost unlimited cost-shifting from actual producers to "entitled" classes chimed in on the buy side may indicate that extra caution is needed for this dip which may be the one which cannot be "righted" by even more ponzi finance and taxpayer abuse.
    Jan 7, 2015. 08:53 AM | 8 Likes Like |Link to Comment
  • Don't Just Follow The Money - Follow The Income [View article]
    Well-conceived points that are amazingly little-noticed in these times of by far the greatest yet still-expanding debt-berg ever created, worldwide. GDP and income accounting generally should take into account whether it is propped up by debt and is shrinking even as debt expands alarmingly as it is in most of the West.

    Amazingly even though the end of ZIRP must come sooner or later, one way or the other which will make debt service by far too many nations, major corporations on share-repurchase binges and individuals either difficult or impossible, debt is studiously ignored for the existential threat it truly is at these levels.
    Dec 29, 2014. 08:06 PM | Likes Like |Link to Comment
  • The Keynesian End Game Crystalizes In Japan's Monetary Madness [View article]
    "And so Mr. Stockman is beating a dead horse in this article."

    Perhaps there is still time for the US and others to wake up and run as far and as fast as possible from the quackery of MMT and Dr. Krugman. Clearly this is a terminal debt trap when it reaches a certain level; how come the likes of Pompano Frog and anybody else with a presumably functioning frontal cortex cannot see something so obvious?
    Dec 29, 2014. 07:48 PM | 11 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "Total, the US Treasury directly and indirectly made half a trillion in profits 'socializing losses'. You should be so successful with your own losses..."

    With success like that, it appears that everybody should be advocating more Wall Street meltdowns and bailouts. Wouldn't enough of those restore Washington's balance sheet?
    Dec 29, 2014. 12:24 PM | 2 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    John Wilson - Good luck arguing with the arrogant sense of entitlement advanced by the likes of MWinMD. They are often educated fools who will never tire of making distinctions without a difference while endlessly advancing any ultimately counterproductive increase in bondage to the collective that is labeled a "solution" towards their ever-metastasizing theologically-held secular causes.

    They are spawned in academia and find proliferating employment in bureaucracy, academia and MSM where common sense and actual results don't matter except to increase "demand" for their services to mitigate endless "unintended consequences" in the real world that are the inevitable result of their crackpot endeavors.
    Dec 28, 2014. 06:45 PM | 5 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "How do we get to trillions in losses?"

    30/1 leverage will do nicely. TBTF Wall Street will find a way as long as they figure they will be bailed out, bonuses intact.
    Dec 28, 2014. 05:27 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Inflation, Output Data Deal Blow To Abe [View article]
    "Japan's in trouble and i see nothing that will work."

    Remember, the 2-1/2 decades of apparently terminal malaise started with their stock market meltdown in the late 1980's that was papered over with bank bailouts which resulted in the same type of zombie TBTF institutions we see today in the US which are were given a reprieve from marking their portfolios to market and now Congress just officially put the taxpayers on the hook again to bail out these banks' gambling debts with depositor accounts when their leveraged losses in the oil markets surface.

    True price discovery and free and honest markets are a necessity for the type of capitalism that lifts societies and results in widespread progress and prosperity. Japanese-style bailouts result in empowering crony capitalists who exist on handouts and special dispensations from the state which then furthers it's counterproductive bloat in an unholy alliance, and in endless malaise for the larger economy.
    Dec 26, 2014. 08:13 AM | 13 Likes Like |Link to Comment
  • Wall Street Breakfast: OPEC Producers See Oil Above $70 By End-2015 [View article]
    "If they can get the stock to increase in value over 50% in two years, they deserve to be rewarded."

    Not so sure rewarding executives for stock price increases is so valid when it is derived from corporate stock buybacks from issuing debt. Similarly, debt needs to be accounted for in GDP calculations. Issuing debt that results in vast value destruction will stop one way or the other, unfortunately for our society, it looks like the involuntary route has been pre-selected by our "leaders" and sold-out and brainwashed masses.
    Dec 24, 2014. 11:16 AM | Likes Like |Link to Comment
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