How are American car makers supposed to compete with all these ridiculous safety regulations? We should just have the Surgeon General slap a sticker on the side saying"Driving this vehicle may be hazardous to your health" and renounce all liability claims!
The Friedman/Schwartz hypothesis has been thoroughly discredited- after all markets didn't immediately right themselves after all the massive monetary easing.
The Chicago RBC Lucas/Sargeant stuff is for the birds. Simple models make for simple, unworkable solutions.
Here in Arizona they have raised the idea of tax cuts to a totem- cut taxes and we have an instant boom! All must be sacrificed so that the sacred cow of business may grow and we are going to be just fine. It is utter hokum, and is being taken out and shot as we type our thoughts. Reality will once again become a basis for economics.
We are still in a deep hole with regard to the macroeconomy.
CR, the hat tip goes to Basel Too. He brought it up first.
This is a logical move for GM that I hope has no effect on the pending legal challenge regarding whether the new GM should have liability for previously injured people.
The 'new GM' will have the same means of production of the same products as the 'old GM.' It would be unreasonable to believe that they could avoid liability for the defective products previously made the exact same way by the same people in the same plant, but installed before the date the 'new GM' emerged from bankruptcy. That is the essence of successor liability.
I haven't heard about any ruling on the objection that Steve Jakubowski and various others filed to the 363 motion in bankruptcy court, but I was offline for the past few days and may have missed it. Clearly, I think that position has merit and would hope the BK court sees it that way also, despite the heavy hand of the government.
Lucifer, I think that idea has been crushed - at least for a few years. It always comes back ... there will be housing bubbles as long as their are people!
sportsfan, I missed that. I'll add a ht. Yeah - this might be some sort of compromise attempt, but I just skimmed through Steve's filing again - and it won't be happy if this is the final agreement
Citizen AllenM (profile) wrote on Sat, 6/27/2009 - 5:21 pm
Here in Arizona they have raised the idea of tax cuts to a totem- cut taxes and we have an instant boom! All must be sacrificed so that the sacred cow of business may grow and we are going to be just fine. It is utter hokum, and is being taken out and shot as we type our thoughts. Reality will once again become a basis for economics.
Arizona owes its existence to the facts that it has much lower taxes and a friendlier business climate than California. And now you think the way out of your troubles is to more closely resemble California?
Rob Dawg, to lower taxes obsessively since the early 90s and then expect taxes that were just sufficient during a once in a lifetime boom to magically cover a yawning deficit as we crash back to a normal state is a straw man- nope it is insanity.
I have way too much familiarity with our state's stupidity and cupidity.
This is not California, no where near California- we compete with Mississippi and Alabama in soooo many categories.
Our competitive advantage over California in base taxes is so large, and we are even competitive with Nevada.
Unfortunately, if you need an educated, sophisticated workforce, complete with access to a first class university system- it ain't here.
sportsfan (profile) wrote on Sat, 6/27/2009 - 5:45 pm
Arizona owes its existence to the facts that it has much lower taxes and a friendlier business climate than California. - RD
Who doesn't? - SF
And now you think the way out of your troubles is to more closely resemble California? - RD
Straw man. - SF
NEW YORK, June 27, 2009 (Reuters) — Ruth Madoff, the wife of epic swindler Bernard Madoff who reaped billions and a lavish family lifestyle, will be left with $2.5 million and have to look for a new home as she forfeits claim to some $80 million in assets.
I laugh in the face of state income taxes and sales taxes. Yeah, our property taxes are high, but at least the great state of Mass. pays a lot of those with their high percentage of 2nd homes in NH.
But don't let me stop you west and near-west coasters from loving where you are...
Citizen AllenM (profile) wrote on Sat, 6/27/2009 - 5:53 pm
Rob Dawg, to lower taxes obsessively since the early 90s and then expect taxes that were just sufficient during a once in a lifetime boom to magically cover a yawning deficit as we crash back to a normal state is a straw man- nope it is insanity.
If anything, California's disaster should have taught you one thing; there is no level of taxation that can cover irresponsible spending.
I have way too much familiarity with our state's stupidity and cupidity.
This is not California, no where near California- we compete with Mississippi and Alabama in soooo many categories.
Our competitive advantage over California in base taxes is so large, and we are even competitive with Nevada.
This is how it starts. Just a little tax increase...
Unfortunately, if you need an educated, sophisticated workforce, complete with access to a first class university system- it ain't here.
How's that "educated, sophisticated workforce, complete with access to a first class university system" worked for California? Right? This is just another example of inadvertently replicating our mistakes.
AZ:
$0 and $10,000, your tax rate on every dollar of income earned is 2.59%.
$10,001 and $25,000, your tax rate on every dollar of income earned is 2.88%.
$25,001 and $50,000, your tax rate on every dollar of income earned is 3.36%.
$50,001 and $150,000, your tax rate on every dollar of income earned is 4.24%.
$150,001 and over, your tax rate on every dollar of income earned is 4.54%.
Sales tax appears to generally be ~1% lower than California.
Property taxes appear to be the same as in California on a percentage (of taxable) basis.
Krugman more or less asserted (without evidence or argument) that his opponents had already been proven wrong, that Keynesian theories were too complicated for them to understand, and that they were dishonest and politically motivated. I'm not sure how that qualifies as 'astute'. Krugman hasn't written anything worth reading (except in a twice-removed, let's-see-what-the-talking-heads-are-saying way) since his dinner with Obama.
Somewhere the ghost of Mancur Olsen whispers of concentrated interest, and collective action failure... Why was there no phalanx of states' A-Gs taking the case of taxpayers getting (almost inevitably) shafted by this scheme?
Ah well, maybe health care reform will fix the liability regime.
C
/edit - gnnnnnnngnHHpPSHAW! BWAHAHAHAHA! Hell's bells. Couldn't hold that one in.
NEW YORK (Reuters Health) - Three U.S. scientists are concern about the potential of people contracting Creutzfeldt Jakob disease -- the human form of "mad cow disease" -- from eating farmed fish who are fed byproducts rendered from cows.
June 27 (Bloomberg) -- The world economy is showing “convincing signs of recovery,” Mario Draghi, chairman of the newly created Financial Stability Board, said today after its first meeting.
“We observe signs of improvement here and there,” Draghi, who is also a member of the European Central Bank council and governor of the Bank of Italy, said in Basel, Switzerland. “Still, the fragilities of the economy and the financial system are there.”
Ralph Nadar for future GM Product Liability Claims Czar....
*somebody had to break the ice.
How are American car makers supposed to compete with all these ridiculous safety regulations? We should just have the Surgeon General slap a sticker on the side saying"Driving this vehicle may be hazardous to your health" and renounce all liability claims!
I'll stick with Toyotas, nonetheless.
More proof that Krugman is nothing but astute:
A thought about macroeconomics - Paul Krugman Blog - NYTimes.com
The Friedman/Schwartz hypothesis has been thoroughly discredited- after all markets didn't immediately right themselves after all the massive monetary easing.
The Chicago RBC Lucas/Sargeant stuff is for the birds. Simple models make for simple, unworkable solutions.
Here in Arizona they have raised the idea of tax cuts to a totem- cut taxes and we have an instant boom! All must be sacrificed so that the sacred cow of business may grow and we are going to be just fine. It is utter hokum, and is being taken out and shot as we type our thoughts. Reality will once again become a basis for economics.
We are still in a deep hole with regard to the macroeconomy.
OFF TOPIC again - I think I blocked that work at home ad - hopefully. If anyone sees it, please let me know. Darn they hide the blocking URL well.
If you click on it - the ads brings up the "Miami Gazette news" ... don't sign up!
best wishes
CalculatedRisk
Now if you could only block the "house prices always go up" meme
// I think I blocked that work at home ad - hopefully.//
CR, the hat tip goes to Basel Too. He brought it up first.
This is a logical move for GM that I hope has no effect on the pending legal challenge regarding whether the new GM should have liability for previously injured people.
The 'new GM' will have the same means of production of the same products as the 'old GM.' It would be unreasonable to believe that they could avoid liability for the defective products previously made the exact same way by the same people in the same plant, but installed before the date the 'new GM' emerged from bankruptcy. That is the essence of successor liability.
I haven't heard about any ruling on the objection that Steve Jakubowski and various others filed to the 363 motion in bankruptcy court, but I was offline for the past few days and may have missed it. Clearly, I think that position has merit and would hope the BK court sees it that way also, despite the heavy hand of the government.
Lucifer, I think that idea has been crushed - at least for a few years. It always comes back ... there will be housing bubbles as long as their are people!
sportsfan, I missed that. I'll add a ht. Yeah - this might be some sort of compromise attempt, but I just skimmed through Steve's filing again - and it won't be happy if this is the final agreement
best wishes
LOL! They should have tried to leave the liabilities behind from the "New GM". Those cars are sure to be the worst of the lot.
"Driving this vehicle may be hazardous to your health"
sdtfs, don't ever buy a pickup with side saddle gas tanks. That vehicle has already been stickered.
Citizen AllenM (profile) wrote on Sat, 6/27/2009 - 5:21 pm
Here in Arizona they have raised the idea of tax cuts to a totem- cut taxes and we have an instant boom! All must be sacrificed so that the sacred cow of business may grow and we are going to be just fine. It is utter hokum, and is being taken out and shot as we type our thoughts. Reality will once again become a basis for economics.
Arizona owes its existence to the facts that it has much lower taxes and a friendlier business climate than California. And now you think the way out of your troubles is to more closely resemble California?
Arizona owes its existence to the facts that it has much lower taxes and a friendlier business climate than California.
Who doesn't?
And now you think the way out of your troubles is to more closely resemble California?
Straw man.
Rob Dawg, to lower taxes obsessively since the early 90s and then expect taxes that were just sufficient during a once in a lifetime boom to magically cover a yawning deficit as we crash back to a normal state is a straw man- nope it is insanity.
I have way too much familiarity with our state's stupidity and cupidity.
This is not California, no where near California- we compete with Mississippi and Alabama in soooo many categories.
Our competitive advantage over California in base taxes is so large, and we are even competitive with Nevada.
Unfortunately, if you need an educated, sophisticated workforce, complete with access to a first class university system- it ain't here.
R.D. check out our income tax rates at our department of revenue- Arizona Department of Revenue
This is cheap.
Someday this war's gonna end...
sportsfan (profile) wrote on Sat, 6/27/2009 - 5:45 pm
Arizona owes its existence to the facts that it has much lower taxes and a friendlier business climate than California. - RD
Who doesn't? - SF
And now you think the way out of your troubles is to more closely resemble California? - RD
Straw man. - SF
Hand waver.
It appears that we already gone past the halfway point on that one, but we have not reached a bottom until investors are scared of houses.
//I think that idea has been crushed - at least for a few years. //
New GM Agrees to Assume Future Product Liability Claims
or
New GM Agrees to Taxpayers Assuming Future Product Liability Claims
Shadenfreud alert!
NewsDaily: Your best source for breaking news
NEW YORK, June 27, 2009 (Reuters) — Ruth Madoff, the wife of epic swindler Bernard Madoff who reaped billions and a lavish family lifestyle, will be left with $2.5 million and have to look for a new home as she forfeits claim to some $80 million in assets.
Here Rob, want to weep when compared with the Franchise Board:
http://www.azdor.gov/Forms/2008/individual/individual%20instructions/2008%20Form%20140%20tax%20tables%20X%20and%20Y.pdf
Roughly take your federal adjusted gross income after deductions and start multiplying.
Try not to weep.
About 1/3 of California- and the property and sales taxes are also less.
U/I and worker's comp too.
We just have that pesky climate and employment base issue.
Someday this war's gonna end...
I laugh in the face of state income taxes and sales taxes. Yeah, our property taxes are high, but at least the great state of Mass. pays a lot of those with their high percentage of 2nd homes in NH.
But don't let me stop you west and near-west coasters from loving where you are...
About 1/3 of California [income tax rates] - and the property and sales taxes are also less.
Citizen AllenM,
And let's not forget - plenty of apartment houses for sale - cheap.
2.5m.
I married an honest man, how come I don't get 2.5m?
Unfortunately, as you know Liz, it's more likely the dishonest men who have the 2.5m.
but your sweetie is worth FAR more than that, so you are the rich one.
Citizen AllenM (profile) wrote on Sat, 6/27/2009 - 5:53 pm
Rob Dawg, to lower taxes obsessively since the early 90s and then expect taxes that were just sufficient during a once in a lifetime boom to magically cover a yawning deficit as we crash back to a normal state is a straw man- nope it is insanity.
If anything, California's disaster should have taught you one thing; there is no level of taxation that can cover irresponsible spending.
I have way too much familiarity with our state's stupidity and cupidity.
This is not California, no where near California- we compete with Mississippi and Alabama in soooo many categories.
Our competitive advantage over California in base taxes is so large, and we are even competitive with Nevada.
This is how it starts. Just a little tax increase...
Unfortunately, if you need an educated, sophisticated workforce, complete with access to a first class university system- it ain't here.
How's that "educated, sophisticated workforce, complete with access to a first class university system" worked for California? Right? This is just another example of inadvertently replicating our mistakes.
R.D. check out our income tax rates at our department of revenue- Arizona Department of Revenue
This is cheap.
AZ:
$0 and $10,000, your tax rate on every dollar of income earned is 2.59%.
$10,001 and $25,000, your tax rate on every dollar of income earned is 2.88%.
$25,001 and $50,000, your tax rate on every dollar of income earned is 3.36%.
$50,001 and $150,000, your tax rate on every dollar of income earned is 4.24%.
$150,001 and over, your tax rate on every dollar of income earned is 4.54%.
Sales tax appears to generally be ~1% lower than California.
Property taxes appear to be the same as in California on a percentage (of taxable) basis.
The article is confusing and could be read to mean that New GM rejects liability for New GM defects but I think the writer meant Old GM defects.
My property taxes in a good school district run $0.97 per square foot per year. Yup my taxes next year are roughly $2700 for a 2800 square foot house.
All around this place is really cheap for what you get for your money.
I have 40 acres of undeveloped land- last year I paid $89- TOTAL.
How's that for cheap?
Shower, dinner ahead- polemicals off.
Someday this war's gonna end...
You are so uncool! These days no woman wants to date, let alone marry, such guys.
//I married an honest man, how come I don't get 2.5m//
Rob D- those rates are on your fully adjusted income- minus all your deductions - like my entire federal Schedule A.
Gotta run.
L, my jaw drops with how much you know about women.
G'nite all, I leave you in peace.
More proof that Krugman is nothing but astute:
Krugman more or less asserted (without evidence or argument) that his opponents had already been proven wrong, that Keynesian theories were too complicated for them to understand, and that they were dishonest and politically motivated. I'm not sure how that qualifies as 'astute'. Krugman hasn't written anything worth reading (except in a twice-removed, let's-see-what-the-talking-heads-are-saying way) since his dinner with Obama.
Why doesn't Brave New GM divide each car into a Good Car and a Bad Car?
Too many Czars and we're going to be hiring them by the dozen. Where's the charisma in that?
Ralph Nadir for future GM Product Liability Claims Doge
With the change of administration, it's more inclusive.
Too many czars and not enough serfs spoils the feudalism.
It is not what you know, but what you can verify.
///my jaw drops with how much you know about women.//
Actually, I've noticed much younger women getting all touchy-feely and flirting
with him. He doesn't even notice.
I think if I weren't in the picture, one would fling him over her shoulder
and haul him away.
He's smart, funny, reasonably mellow, makes a good salary, has hair (95% dark brown) on his head, etc, etc.
and we have viagra nowadays..
//He's smart, funny, reasonably mellow, makes a good salary, has hair (95% dark brown) on his head, etc, etc.//
Very funny Cent.
The CR article about hotel foreclosures reminded me of the WSJ video about Bangkok's ghost towers that I belatedly added to my malinvestment article.
Somewhere the ghost of Mancur Olsen whispers of concentrated interest, and collective action failure... Why was there no phalanx of states' A-Gs taking the case of taxpayers getting (almost inevitably) shafted by this scheme?
Ah well, maybe health care reform will fix the liability regime.
C
/edit - gnnnnnnngnHHpPSHAW! BWAHAHAHAHA! Hell's bells. Couldn't hold that one in.
Lucifer==Marrubium vulgare
Yeah, C, saw those towers on TV. Miami will have ghost towers, but they
are finished on the outside. What happens with a hurricane, even a small one?
If they have hurricane glass, I guess it will be ok.
Ah well, maybe health care reform will fix the liability regime.
Very funny Cp.
Don' worry, be happy. Plenty of serfs on the way.
Work-at-home is going to be work-at-the-refrigerator-box.
Google has changed the world
//Marrubium vulgare = common horehound//
Less than 120 seconds
Marrubium vulgare--hahahahahahahahahahah
From today's "NOW WHAT!!!" department-
Risk of mad cow disease from farmed fish?
| Reuters
NEW YORK (Reuters Health) - Three U.S. scientists are concern about the potential of people contracting Creutzfeldt Jakob disease -- the human form of "mad cow disease" -- from eating farmed fish who are fed byproducts rendered from cows.
i have a question. what happens to all the old gm and old chrysler vehicles when there is re call?
Subprime is contained!
FSB’s Draghi Sees Signs of Improvement in Economy (Update1)
FSB’s Draghi Sees Signs of Improvement in Economy (Update1) - Bloomberg.com
By Klaus Wille
June 27 (Bloomberg) -- The world economy is showing “convincing signs of recovery,” Mario Draghi, chairman of the newly created Financial Stability Board, said today after its first meeting.
“We observe signs of improvement here and there,” Draghi, who is also a member of the European Central Bank council and governor of the Bank of Italy, said in Basel, Switzerland. “Still, the fragilities of the economy and the financial system are there.”
I guess there won't be a recall!
Been waiting to use that ever since my wife told me we had it growing in the yard. "Whaaat did you say that was?"
Ask them about why fewer people are getting heart attacks even though the population is getting older and fatter.
//From today's "NOW WHAT!!!" department//
It's their job to lie.
Can't criticize them for just doin' their job.
They were only following orders.
Total Recall
//I guess there won't be a recall!//
Nuremberg Defense.
//They were only following orders.//
Media has to give us something more to worry about.
How can
1] Savings increase
2] Consumption increase
and
3] Income remain constant or decrease.
Fish!
Boop boop ditum datum otum shoop,
Boop bood ditum datum otum shoop,
And the swam and they swam all over the dam.
of course they have to.its like a eight ring circus
three little fishies and moma fishie too...
1] Pump the stock market
2] Turn the credit spigot to 11
DRAGHI!?? Draghi's quoted on macroprudential oversight and the future of the world economy? Is this some kind of sick joke?
C
For how long?
//1] Pump the stock market
2] Turn the credit spigot to 11//
liz i had to find the lyrics to it
Folk & Traditional Song Lyrics - Three Little Fishes
Ah, there's the rub.
You can't fail if you don't play.
And the house backs the losers.
What's not to like?
Krugman: Now, no doubt this is partly about politics, which, as Brad says, makes some people stop thinking like economists.
...Says the guy writing under the banner, "The Conscience of a Liberal."
Hahahahahahah, Gaby.
P. S. I'm not THAT old.
You have a 40 year old daughter.
//P. S. I'm not THAT old.//
Where are Byz and EHP?
i used to sing it has a kid but ill be singing it until i can get it out of my head.
Ahh, you remember the details of my life.
Why?
That song is way older than I am.
Pigged!
me pigged too
Ahh, you remember the details of my life.
Why?
Distinctive voice
But you see, Luci claims that women are useless except for sex.
But he remembers my family life--why?
Guys didn't put your hair in the ink well when you were a youngin?
Desks had holes for inkwells, but inkwells were obsolete.
Hmm, it's a detail told to me by my mother who is a little younger than you. In any case, boys do silly things for affection in any era.