what things are fundamental to a prosperous economy
what do we produce as a society and a nation
GD9000, gov reflation aside, the issues are fundamental
we should ask ourselves
are we producing more of the kind of products people want and need,,, and better quality
are we beating back fraud, corruption and criminality.. scourges that destroy business opportunity and a society
hows are trade with other nations
hows our resources base
are we allocating capital effectively so that we invent and create good jobs
i think (guess) the grade we are earning is.......................F
F.......... for........ efffed
seriously effin..... effed dont you think??
oh yeah i left out one biggie
we as a society are in debt up to our eyeballs
other than the above half dozen fundamentals
we have every reason to be optimistic...(snark needle pinned into the red)
outsider
you may well be right...
im terrible at calling the markets
and i come here because most of the people here are much smarter than me about housing, business finance etc
but im learnin and believe im a decent historian and a macro guy
mid term to long term i continue to believe we are in very very deep voodoo
btw
i agree with mel and others that ben, obama and others are trying to save the system because they fear mad max society
and i believe they have been corrupted by the banking oligarchs
whether they are entirely justified about the doom and gloom scenario, im not knowledgeable enuf to know for sure
but
i do believe the" just let it fail crowd" has not fully plumbed the depths of the mayhem that would ensue this time
this would be much much worse than the great depression...again for reasons of fundamentals...
ie,, people are much more dependent today on society and lack skills to be self sufficient
Friday, August 21, 2009
Thursday, August 20, 2009
like before the great depression
we have the greatest concentration of wealth in america in one hundred years
the top 1% richest americans own nearly half of all stock, bonds and real property in america
these rulers have been exporting jobs to countries where wages are rock bottom and workers rights and environmental protections are non existent
many americans and their children may be about to inhabit a country where they have no jobs and no health care
btw for those of you who think you have retirement benefits coming...wake up thats been raided along with jobs, and health care
you are about to become serfs in your own country
we have the greatest concentration of wealth in america in one hundred years
the top 1% richest americans own nearly half of all stock, bonds and real property in america
these rulers have been exporting jobs to countries where wages are rock bottom and workers rights and environmental protections are non existent
many americans and their children may be about to inhabit a country where they have no jobs and no health care
btw for those of you who think you have retirement benefits coming...wake up thats been raided along with jobs, and health care
you are about to become serfs in your own country
Friday, August 14, 2009
Money Man
the drama of the town hall meeting will fade
im an old 60s activist
the real umph is to be had by stopping traffic
in 67 behind MLK and other civil rights leaders we marched 40k people down avenue of the americas, across town and to the east side drive of NYC and the riverside church and tied the big apple up in knots all day
total traffic meltdown
when hungry out of work americans clog the freeways with clunkers doing 45 mph and signs on the back saying mad as hell
then the TPTB will get stiff hair on the back of the neck
the drama of the town hall meeting will fade
im an old 60s activist
the real umph is to be had by stopping traffic
in 67 behind MLK and other civil rights leaders we marched 40k people down avenue of the americas, across town and to the east side drive of NYC and the riverside church and tied the big apple up in knots all day
total traffic meltdown
when hungry out of work americans clog the freeways with clunkers doing 45 mph and signs on the back saying mad as hell
then the TPTB will get stiff hair on the back of the neck
patient renter wrote
"..."What happens if people get angry enough to stop paying their credit card debt, stop getting that car loan, walk away from the underwater mortgage. J6P can end the game. Don't think he will, but he could...."
---
what happens when many of the 30 million americans who have paid off their houses, no longer have jobs and face being thrown out onto the street by the property tax collector
we have been hemorrhaging jobs for going on a decade or longer and the future looks worse
http://www.ritholtz.com/blog/2009/08/zero-10-year-us-job-creation/
where are the jobs going to come from after the "recovery" where, what sector, what industry
"..."What happens if people get angry enough to stop paying their credit card debt, stop getting that car loan, walk away from the underwater mortgage. J6P can end the game. Don't think he will, but he could...."
---
what happens when many of the 30 million americans who have paid off their houses, no longer have jobs and face being thrown out onto the street by the property tax collector
we have been hemorrhaging jobs for going on a decade or longer and the future looks worse
http://www.ritholtz.com/blog/2009/08/zero-10-year-us-job-creation/
where are the jobs going to come from after the "recovery" where, what sector, what industry
Friday, August 7, 2009
the fdci goldcard
where is FDIC getting the money to cover the losses from taking financial institutions into receivership?
over at bigpicture ritholtz posted a pull from bloomberg indicating fdic outlays in excess of their dwindling account...
scroll down
http://www.ritholtz.com/blog/wp-content/uploads/2009/07/credit-crisis-ou...
no?
what am i getting wrong here
a recent article (may 09) in the atlantic suggested they have an unlimited (kinda sorta) credit line with the treasury
http://business.theatlantic.com/2009/05/the_backdoor_bailout_for_banks_a...
what?
over at bigpicture ritholtz posted a pull from bloomberg indicating fdic outlays in excess of their dwindling account...
scroll down
http://www.ritholtz.com/blog/wp-content/uploads/2009/07/credit-crisis-ou...
no?
what am i getting wrong here
a recent article (may 09) in the atlantic suggested they have an unlimited (kinda sorta) credit line with the treasury
http://business.theatlantic.com/2009/05/the_backdoor_bailout_for_banks_a...
what?
Monday, August 3, 2009
Effective Demand wrote at 12:09 pm
snip
The fed is printing up $1.25 trillion to buy up MBS and 300 billion to buy up treasuries to keep long rates low... Why not take advantage of that to clear up the problem sooner rather than later? TPTB want to use the opportunity to modify as many loans as possible but instead of having one solution, why not have many solutions and lets the lenders make the choice that makes the greatest economic sense?
---
i agree , and
just think, if the fed, treasury, congress, or whom ever had spent the tarp helping all the troubled subprime home "owner"s
they would have had enuf tarp money, (700 plus billion) to outright buy every troubled subprime loan IN TOTAL, give the house to the "owner" for free
and still have had about half a trillion dollars of tarp money left over
---
this is how you know at least (at least) one of two conditions is true
the problem had little to do with subprime
or / and
TPTB are studpid
snip
The fed is printing up $1.25 trillion to buy up MBS and 300 billion to buy up treasuries to keep long rates low... Why not take advantage of that to clear up the problem sooner rather than later? TPTB want to use the opportunity to modify as many loans as possible but instead of having one solution, why not have many solutions and lets the lenders make the choice that makes the greatest economic sense?
---
i agree , and
just think, if the fed, treasury, congress, or whom ever had spent the tarp helping all the troubled subprime home "owner"s
they would have had enuf tarp money, (700 plus billion) to outright buy every troubled subprime loan IN TOTAL, give the house to the "owner" for free
and still have had about half a trillion dollars of tarp money left over
---
this is how you know at least (at least) one of two conditions is true
the problem had little to do with subprime
or / and
TPTB are studpid
Sunday, August 2, 2009
i think npr is a very good news outlet
but
sometimes....
"Crackdown On Smuggled Guns Hindered By U.S. Laws
mock turtle"
the headline of this article is not supported by the reporting
how do american laws hinder tracking guns???
the gun show loop hole argument is nonsense
heres why (or how)
a us manufactured rifle is seized in mexico
the authorities report the make model and serial number to atf
who contacts the manufacturer, who reports which store or dealer the gun was wholesaled to
the dealer reports the person who bought the fire arm
ok so far?
now the so called loop hole...there is a private transfer from friend to friend or between strangers
cops knock on door, the original purchaser answers and says i sold that gun
the cops say oh yeah, it was picked up at a crime scene, who did you sell it to
at this point the seller better have a pretty good story or he is on the hook as the person who sold a gun to drug traffickers
Sun Aug 2 11:25:47 2009
but
sometimes....
"Crackdown On Smuggled Guns Hindered By U.S. Laws
mock turtle"
the headline of this article is not supported by the reporting
how do american laws hinder tracking guns???
the gun show loop hole argument is nonsense
heres why (or how)
a us manufactured rifle is seized in mexico
the authorities report the make model and serial number to atf
who contacts the manufacturer, who reports which store or dealer the gun was wholesaled to
the dealer reports the person who bought the fire arm
ok so far?
now the so called loop hole...there is a private transfer from friend to friend or between strangers
cops knock on door, the original purchaser answers and says i sold that gun
the cops say oh yeah, it was picked up at a crime scene, who did you sell it to
at this point the seller better have a pretty good story or he is on the hook as the person who sold a gun to drug traffickers
Sun Aug 2 11:25:47 2009
Subscribe to:
Posts (Atom)