tag:blogger.com,1999:blog-1207581886255094115.post7893292173435037909..comments2024-02-26T05:51:17.859-05:00Comments on Economic Disconnect: Taking a Look from a Better AngleEconomicDisconnecthttp://www.blogger.com/profile/02802078645713106743noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-1207581886255094115.post-22912234460553015522009-06-12T15:47:36.269-04:002009-06-12T15:47:36.269-04:00Kevin, you crack me up!Kevin, you crack me up!Lisanoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-28321702144935389582009-06-12T12:47:48.214-04:002009-06-12T12:47:48.214-04:00WASHINGTON, June 12 (Reuters) - The U.S. debt burd...WASHINGTON, June 12 (Reuters) - The U.S. debt burden must be on a "declining path" as officials begin to conceive a costly overhaul of the health system, President Barack Obama's top economic advisor said on Friday. <br />http://tinyurl.com/mqsrsf<br /><br />Poor old Larry had better go over to Japan and learn a few lessons about zombie banks and companies. Hate to be the one to tell him this but government spending and deficits as far as the eye can see is the economy now. <br /><br />KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-54972685877727171472009-06-12T11:38:45.311-04:002009-06-12T11:38:45.311-04:00Oh, and by the way, this is interesting.
http://w...Oh, and by the way, this is interesting.<br /><br />http://www.washingtonpost.com/wp-dyn/content/article/2009/06/11/AR2009061103993.html?wprss=rss_businessGawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-28516359751041182912009-06-12T11:33:41.124-04:002009-06-12T11:33:41.124-04:00WASHINGTON, June 12 (Reuters) - Chief White House ...WASHINGTON, June 12 (Reuters) - Chief White House Economic Adviser Lawrence Summers said on Friday that government aid to banks and auto companies was driven by necessity and not by any wish to unduly intrude in business.<br />http://tinyurl.com/ld5gz9<br /><br />Every damn market in the US is being manipulated by these guys and thier Wall Street pimps and this clown comes out with this line of bull.<br /><br />Lisa,<br />I majored in beer drinking, with a minor in pot smoking and skirt chasing so I see I'm way out of my league here:-)<br /><br />KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-55353128432213516272009-06-12T11:24:32.070-04:002009-06-12T11:24:32.070-04:00Well, to confess, Lisa, my first degree was a BS i...Well, to confess, Lisa, my first degree was a BS in Biology. I thought I wanted to be an explorer or something. But I soon became disenamored with science, went back to school and got a BA in composition and rhetoric with a minor in philosophy. Then I went to graduate school and got an MA in British Romantic poetry with a dual minor in medieval literature and the Humanities.<br /><br />So, yeah, I gues you could say I am a writer of sorts. I do have a knack for it. But right now I'm merely a Realtor, selling repossessed homes.<br /><br />Howbeit, the bottom line is this. I'd rather have the money than the acclaim.<br /><br />That said, I love you too.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-35333376485503919862009-06-12T10:33:17.215-04:002009-06-12T10:33:17.215-04:00Thanks for the mention, GYSC! Great post. Gawain...Thanks for the mention, GYSC! Great post. Gawains, have I told you lately that you are incredible? I really love your comments, your writing is that of a professional. Come on, 'fess up, you are a writer, aren't you?Lisanoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-69601100412738754402009-06-12T09:46:43.640-04:002009-06-12T09:46:43.640-04:00There was an interesting discussion last night on ...There was an interesting discussion last night on two shows on the Fox Business Channel, American Scorecard and Happy Hour (which is rapidly becoming my favorite late night show, and not because of the totally hot brunette, Rebecca Diamond, but because of Cody Willard, who speaks my language).<br /><br />Judge Napolitano was the guest on American Scorecard, and he was calling for indictments against Lewis, Paulson, Bernanke, Geithner, and Blair. He also said that Ron Paul's bill to audit the Fed now has majority support in the House, that it will pass overwhelmingly, and that the Senate will be under tremendous pressure to pass it as well. Now, whether or not the President will sign it is another question, but hope springs eternal.<br /><br />Indict them all, I say, and let God sort them out.<br /><br />Another guest was the owner of Fitzgerald's Auto Mart, who has been working and pressuring Congress about the closing of dealerships in the Chrysler and GM debacles. As to the UAW taking majority stakes in Chrysler, he said, "How much is 55% of nothing worth?" I had to laugh.<br /><br />But what I found most amusing was this post by Prof. Hamilton.<br /><br />http://www.econbrowser.com/archives/2009/06/how_to_lose_on.html<br /><br />Texas Hold 'Em. This little old bank in Texas holds an MBS worth $29M, most of which is on sub-prime mortgages in California, 60% of which are delinquent. So it sells CDS, bets on default, to the big boys on Wall Street, JPM, BoA, RBS, and takes in $130M. Then it buys the security at par, makes the bondholders whole, and pockets $70M, leaving the big boys out $100M.<br /><br />I love it. Never play poker with a Texas banker. When you go all in, he'll flip the cards to show that he flopped a nut straight, and take all of your money.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-55665231016056437252009-06-12T06:18:56.441-04:002009-06-12T06:18:56.441-04:00Thanks for the Denninger snip, he summed up the in...Thanks for the Denninger snip, he summed up the inevitability of deflation nicely, but his reasoning is perhaps more entertainment than reality. The reality is anathema to those that don't understand what the Fed is actually doing. Reality is this: dollars are getting scarcer, thereby becoming more valuable. Defaulted debts are dollars destroyed and hoarded dollars are dollars unspent. I'm sure you've seen the projections regarding commercial defaults...they are significantly higher than those that occurred during the GD. Sheila Bair now has bodyguards due to threats from persons whose savings exceeded FDIC insurance limits. All those dollars, totally vaporized. And that with what has thus far been a trivial number of bank/business failures.<br /><br />What about Bernanke's Air Cav mission? Accrued Interest had this to say: "if the Fed mints a quadrillion new Sacagaweas and just sticks them in a vault at Ft. Knox, there is no inflationary impact."<br /><br />Food prices? Only one way for a farmer to make more money: increase production. Of course, when increased supply meets decreased demand, the result is inevitable. Think of all the food that FDR destroyed in a vain effort to jack up prices.<br /><br />As for facebook, someone described it as a "privacy raping machine". I believe it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-13885147976358379192009-06-12T00:14:53.167-04:002009-06-12T00:14:53.167-04:00A record number of Chinese urban residents want to...A record number of Chinese urban residents want to save, not spend, as they have turned increasingly gloomy about their incomes, according to a central bank survey released on Friday. <br />The survey of urban residents conducted by the People's Bank of China in late May showed that 47 percent would like to save more hit 47 percent, up 9.5 percent on the first quarter, and the highest since the survey began in 1999.<br /><br />http://tinyurl.com/nntffp<br /><br />Alrighty then.<br /><br />KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-36845473409739350812009-06-11T23:35:08.885-04:002009-06-11T23:35:08.885-04:00GYSC
How about this for tomorrow: Ten Years After...GYSC<br /><br />How about this for tomorrow: Ten Years After - I'd Love To Change The World<br /><br />KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-32564850981793722352009-06-11T22:54:43.967-04:002009-06-11T22:54:43.967-04:00No problem Kevin,
we just miss your solid take on ...No problem Kevin,<br />we just miss your solid take on things. Maybe we took you for granted, but Lisa got me back to what is important, and you have plenty to offer.<br /><br />Watchtower,<br />you are a valued contributor as well. Lets keep things going for tomorrow night!<br />Bed time, 5am wake up.<br />Be good.!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-89703414834091774682009-06-11T22:40:51.632-04:002009-06-11T22:40:51.632-04:00Watchtower,
I had an old friend who I haven't...Watchtower,<br /><br />I had an old friend who I haven't seen in years come up from Arizona and spend a few days with us this week. He is in search of a port from the coming storm. He may be moving up here in the not to distant future.<br /><br />One of my other daughters and here family moved back out here from CA with 3 of my grandkids a month ago so between all of that and the gardens along with this cold weather which is really screwing things up I've been kind of busy.<br /><br />KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-70096898143768758962009-06-11T22:36:11.249-04:002009-06-11T22:36:11.249-04:00See, we all missed you Kevin!See, we all missed you Kevin!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-9670607969181785872009-06-11T22:13:44.210-04:002009-06-11T22:13:44.210-04:00Cool, Kevin is posting again.Cool, Kevin is posting again.watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-73458164879652815812009-06-11T22:10:27.312-04:002009-06-11T22:10:27.312-04:00Kevin,
I agree with all of your estimates. How th...Kevin,<br />I agree with all of your estimates. How those numbers, higher mortgage rates, and cheaper Ipods make a V shaped recovery is beyond me.<br />Good to see you my friend.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-15585987557280264762009-06-11T21:45:53.481-04:002009-06-11T21:45:53.481-04:00Gysc
Here's what I see coming down the pipe b...Gysc<br /><br />Here's what I see coming down the pipe by say September.<br /><br />U3 unemployment 11%+<br /><br />Gas prices $3.5 - $4<br />They raised the price here again Tuesday for the third increase in the last three weeks or 12%<br /><br />Food prices exploding higher<br /><br />Home prices still falling<br /><br /><br />The same commodity price inflation that caused the fall the last time around (thanks, making sure deflation doesn't happen here Benny) will kick an even weaker consumer who's credit line has been pulled down another flight of stairs which will give us a double dip.<br /><br />KevinAnonymousnoreply@blogger.com