Comments by hedgefundguy

Stress fractures

Conversations with liberal activists and labor officials reveal an unmistakable hostility toward the pro-business, free-trade, free-market philosophy that was in vogue during the second half of the Clinton administration

Do you mean Glass-Steagall being replaced by The Commodity Futures Modernization Act of 2000, turning the markets into a casino with the banks writing all kind of betslips for a commission?

Or Obama having 13 Wall Street CEO's at the White House in 2009 and not lifting a finger, allowing them to go back to busisness as usual.

I wouldn't call them liberal activists, fiscal centrists, maybe.

NPWFTL
Regards

America’s potential: the maximum output it can sustain given its endowments of capital, labour and technology.

You forgot debt.

At the end of 1989 the Total US debt - as a country - was 234% of GDP.

At the end of 2004 the Total US debt - as a country - was 326% of GDP.
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Let me have your credit card and I'll get the economy rolling.

NPWFTL
Regards

Buying insurgency

The person who has the seat - Geoff Davis - chose not to run for re-election.

What matters first, is what Mr. Davis' "fiscal cliff" votes will be when the time comes.

NPWFTL
Regards

I see nothing wrong with helping someone who has lost their job, or needs training in understanding household finances, etc.
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By Les Christie
CNN.Money 5/24/12

The percentage of borrowers who owed more on their home than it was worth increased to 31.4% during the quarter, up slightly from 31.1% three months earlier, according to Zillow. In the year-ago period, 32.4% of all borrowers had negative equity on their loan.
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It's not like these people are paying a 15% tax on pulling in $20 million/year, year after year, after year.

NPWFTL
Regards

Buying insurgency

If Mr. Massie wins the general but over the next 2 years fails to "bring home the bacon," that's fine.

His district's loss is someone else's gain.
(Maybe the PAC-backers?)

NPWFTL
Regards

The feeling's mutual

I thought Hollande's "growth" was going to be on raising taxes on the rich and using it for growth policies.

That might lead to less money for the wealthy to "invest" in commodities, art, and other assets.

NPWFTL
Regards

On the edge of the euro storm

But there is a knock-on effect transmitted via the banking sector. As in western Europe, there is virtually no interbank lending market.

Wasn't it because of huge interbank lending in the US that contagion occurred?

By keeping the discount higher than the interbank lending rate, the Fed lost control. Banks lent to each other with fewer questions asked.

NPWFTL
Regards

The feeling's mutual

Is it acceptable, he asks, that Spain must borrow at 6% while Germany can raise money almost for free?

Yes.

In the states, each state issues bonds and at different interest rates. It is based on the risks associated with the state and the type of bond being issued.

Spain, sucked into a worsening recession, is pleading for the European Central Bank (ECB) to inject more liquidity into its banks and buy its government bonds.

Why not sell the homes/mortgages it holds to foreigners?

One is to create a form of “banking union”, with a Europe-wide system of deposit guarantees, recapitalisation and regulation.

Individual countries would have to give up rights.
But reforms in other areas are needed too in ordeer to make the weak countries more competitive.

He is also right in thinking that an exclusive Franco-German duopoly cannot pretend to run the euro zone.

Would the voters within the EU be willing to cede control to a monopoly based in Brussels?

Mr Hollande might tell Mrs Merkel that creating a more solid euro zone, far from creating moral hazard, will make it easier to threaten Greece or others with expulsion.

I thought it is extremely hard to boot someone out.
"Self-deportation" is the quickest way.

NPWFTL
Regards

One possible cost-saving is merging several federal agencies and firing government employees who are redundant.

How about we put the Department of Defense under the Department of Commerce?

Then Commerce would tell Defense which export nation(s) to subsidize with military protection.

NPWFTL
Regards

Then he claims presidents like Truman are forgettable and lumps Bush in and then claims that kindof experience results in bad presidents.

Actually, he was lumping in Bush41 AND Bush43 as "lousy or forgettable presidents."

Hoover is perceived as lousy.

Coolige and Truman policies are rarely brought up in discussions here, or anywhere for that matter.

Bush41, abandoned by his party in 1992.

Bush43, abandoned by his party in 2008 - his speech to the Republican National Convention was via video and not during prime time.

Romney also changed his position on the Bush-era education overhaul known as "No Child Left Behind." He said he supported the law as a candidate in 2007...

http://www.cbsnews.com/8301-505245_162-57440299/romney-american-kids-get...

NPWFTL
Regards

"Millions of kids are getting a third-world education."
- Romney

I guess we know the type of education some out there have received. One that includes name calling - Todd T - and below.

"Romney announced Tuesday a team of education policy advisers that includes former Education Secretary Rod Paige and other officials from President George W. Bush's administration... ... As education secretary in 2004, he labeled the National Education Association a "terrorist organization."

http://www.cbsnews.com/8301-505245_162-57440299/romney-american-kids-get...

"Teach, your children well."
-CSNY

NPWFTL
Regards

Conveniently lumping Obama and Reagan together

Reagan was president of the Screen Actors Guild.

He had to join a union: the Screen Actors Guild. Reagan writes:

As far as I was concerned, some of the studio bosses were abusing their power. Throughout my life, I guess, there's been one thing that's troubled me more than any other: the abuse of people and the theft of their democratic rights.

http://www.fsmitha.com/h2/reagan.htm

I guess some people don't know their history.

NPWFTL
Regards

You forgot about the CR expiring Sept 30th.

The dispute between the House and Senate most likely means lawmakers will not pass FY 2013 spending bills until after the November election, reports CQ Today. As a result, Congress will need to pass at least one continuing resolution to keep the government open beyond Sept. 30.

To avoid a protracted quarrel over shutting down the government when members will be more eager to return to the campaign trail, initial stopgap measures likely will follow the higher, $1.047 trillion limit.

http://www.defensecommunities.org/headlines/house-senate-rift-over-spend...
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Let's see...

It's May, and the CBO is projecting GDP for the 1st half of 2013.

What was their call back in November 2007 for the 2nd half of 2008?
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The best I can do is try to make my own cutbacks and stash some cash, and let the politicians be politicians.

Que sera, sera

NPWFTL
Regards

Spot the difference, part three

Now of course, tax rises count as austerity, too; Britain has increased VAT and national insurance... ...Unfortunately, the evidence suggests* that the most successful austerity plans are weighted towards spending cuts rather than tax rises.

First, the blog entry looks only at spending.
Not the annual pct. deficits, and Debt/GDP of the countries.

The Brits raised taxes and they have low yields.
The US lowered taxes and they have low yields.

Isn't that the game plan behind austerity?
To keep yields low which lowers the spending on interest payments.

Here's your paper's latest look at 10-year rates:
http://www.economist.com/node/21555594

Seems those that cut spending have higher rates.
(Just having fun like the rest of the folks.)

NPWFTL
Regards

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