Recent comments by JP

Sebastian wrote:

benefiting the other 300+ million of us including the ones who lost their jobs.

Facepalm

Rob Dawg wrote:

The AMA will declare war and have ballot measures on lawyer behavior that will eviscerate that "profession."

I say: Bring it on.

Edit: I hope "billable hours" is first up. I'd go for independent auditing to find out how many total hours are in the books.

tg wrote:

It appears to be a false debate on testing md's for drugs to get the cap increased on malpractice

Testing anesthesiologists at least might not be such a bad idea.

Wisdom Seeker wrote:

Shouldn't we be seeing the positive effects of CR's much-vaunted "year over year decline in interest rates" by now? Are we entering Stage II of Joshua Pollard's projected second housing crash?

FTA:

Stage III: Deflation & Response: Falling home prices create a negative deflationary feedback loop that foreshadows a
once-in-a-lifetime policy response

New Keyboard

Jackdawracy wrote:

Anybody's place look like this?
Beautiful Joshua Tree Supervillain Lair For Sale For First Time - Deserting - Curbed LA

I'm afraid that supervillain status is an unlikely future for me, about the best I can hope for is petty thief.

Nemo wrote:

That's racist

They call me Mr Casual.

I mean, when you think about it: The Fed relies on the asymmetry of information flow across the various market players. If they were to speak plainly, then every Tom Dick and Harry would ditch bonds all on the same day.

Modern finance axiomatically depends on a population that is not given equal information from the monetary central planners. If they did, pricing turmoil would ensue.

I know that should have been obvious, but apparently I'm pretty slow on the uptake.

Nemo wrote:

Across the Curve » Blog Archive » Cloudy Dots

I hope more people call a spade a spade.

LOL, more from the WSJ:

What about the mess in Europe?

Yellen says the Fed discussed the outlook for Europe, including its very low inflation and slow growth.

Then she offers the perfect non-answer, calling Europe one of a number of risks in the global economy: “We certainly hope they will be successful in seeing the pace of growth and inflation pick up and I think that will be good for the global economy and the United States.”

See what I mean there?

If I had an employee who offered such non-answers to my questions, I would fire that person so fast and loudly that it would turn heads. You gotta love that this is the state-of-the-art in modern finance.

Probably liberated that equity, which would otherwise be wasted from being locked up, and then put it all on a Scottish-succession bet.

LOL, from the WSJ live blog:

Yellen has really mastered the art of central banking. She has a knack for offering really long answers that don’t offer much substantive content.

It’s a particularly useful skill here because she can’t just say she doesn’t want to answer a question. She has to produce some words.

poicv2.0 wrote:

CALPERS is the Mikey Life Cereal of the Investment world.

Aptly put, tho I fear only those of a certain age will think me inept for pronouncing it apt.

I'd love to believe that we've reached peak suckers, but I hear there's a new one born every minute.

Rob Dawg wrote:

Lower GDP and lower Unemployment. Oh yeah, that makes sense.

Implied lower participation rate, which I can believe.

Dooooooooooooooom!!!

The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators and inflation moving toward levels the Committee judges consistent with its dual mandate.

Just because we haven't achieved that in the past 5 years doesn't mean that continued low interest rates won't achieve it next year.

Well that's it. If I can't get decent world-relevant double entendre disguised as sarcasm around here, then I'm leaving.

Nytol

Two interpretations:
1. Hare today, gone tomorrow
2. Some CK gossip I missed.

lawyerliz wrote:

I think the turtle is evicted.

So here on HCN we really get reports about both a tortoise and a hare?
I feel like I'm being set up for a joke.

poicv2.0 wrote:

History has shown that when they've finished eating the bootstraps they start eating the job-creators.

Om-nom-nom-nom

If only there were a measure of the change in the cost of living.

Rickkk wrote:

Last Week Tonight with John Oliver: Fan Mail Vol. 1 (Web Exclusive) - YouTube

Big smile Thank god that the satirical commentary biz is a growth market.

Belmont wrote:

Oops, you need a nominal vs real lesson yet AGAIN

Yeah, that's just what I think when I read eecon's commentary on oil: He's not figured out the basics like nominal vs real.

gmafb.

Catler!, since I don't have a Lenin cat icon handy.

Mary wrote:

< pick teeth, suck vigorously >
its name was taken from James Joyce's novel Finnegans Wake.

As it turns out: No, it was not taken from the Joyce novel. Murray Gell-Mann had the sound first then went looking for a reference.

As he tells it:

In 1963, when I assigned the name "quark" to the fundamental constituents of the nucleon, I had the sound first, without the spelling, which could have been "kwork". Then, in one of my occasional perusals of Finnegans Wake, by James Joyce, I came across the word "quark" in the phrase "Three quarks for Muster Mark". Since "quark" (meaning, for one thing, the cry of the gull) was clearly intended to rhyme with "Mark", as well as "bark" and other such words, I had to find an excuse to pronounce it as "kwork". But the book represents the dream of a publican named Humphrey Chimpden Earwicker. Words in the text are typically drawn from several sources at once, like the "portmanteau" words in "Through the Looking-Glass". From time to time, phrases occur in the book that are partially determined by calls for drinks at the bar. I argued, therefore, that perhaps one of the multiple sources of the cry "Three quarks for Muster Mark" might be "Three quarts for Mister Mark", in which case the pronunciation "kwork" would not be totally unjustified. In any case, the number three fitted perfectly the way quarks occur in nature.

The story is quoted in the wiki: Quark - Wikipedia, the free encyclopedia 

/pendantic

Wisdom Seeker wrote:

There is something seriously wrong with an economy in which it's perceived that the most important news is the public statement of a central committee's decision-making process.

You sound less than enthused about the five-year plan, Komrade.

Tom Stone wrote:

Half the agents are above average, just like heart surgeons...

Median!

Whoops.

Oh and I'm sure the money for Alibaba will be much better tracked.

This got dragged out when Robin Williams died, but worth a repost Robin Willims - Golf (full version) - YouTube

Like poic said: They didn't call you because they have too many people beating down their door. Return a lower number as a counter.

Belmont wrote:

The only haircut you get on FRNs is incipient inflation

... if you're lucky.

poicv2.0 wrote:

"Scent from iPhone 4S w/ stone wheels "
Are you Barney Rubble?

That makes me even more prehistoric with my iphone 4. But the wife and I will order either the 6 (if we like the size) or a 5 later this week. Buttons stopped working, otherwise we'd continue with the 4. Rant

energyecon wrote:

Wally Ponytail on Dilbert.com

New Keyboard

I shook hands on funding in 2000. ($20M first round. Money was free, and I so miss that environment.) There's a movie out there named something like "startup.com", which really captured what it was like. Amazingly, one of the Boston VCs let the cameras in the room during a term sheet negotiation.

sm_landlord wrote:

No need to wait for the results of the Fed meetings. Hilsenrath has pre-announced that the language will remain dovish, retaining the the "considerable time" language.

QFT

shill wrote:

No Change in U.S. Mood: 23% Satisfied, 76% Not

The conclusion that we should all draw from that graph: We need another internet bubble, and we need it now.

Cinco-X wrote:

Do you think that even 1% of US residents is homeless? I doubt it.

You got me curious. (We hvae a high homeless population around here.) It's close to 0.2%

Source-
https://www.hudexchange.info/resources/documents/ahar-2013-part1.pdf (610K homeless people on a given night)
population of the US 313K (google)

Edit: Slow on the draw. Time to stop multitasking....

Nytol

Firemane wrote:

I think what gets me the most is we have a drop of more than a million in the number in poverty,

That's what I was getting at: We don't have a drop in the number in poverty, we in fact have a drop in the result of a measurement sample of poverty. Different beasts.

Me? I'm thinking a million fewer people in poverty sounds significant.

Surely, and here's hoping that the measurement is more accurate than what the 19th century math says it is.

josap wrote:

A tenant called and asked me what I am going to do about the possibility of flooding.

"I filed a court order demanding that the rain not fall on any of our properties."

energyecon wrote:

Sure, I chose the good economy but then I am one those earned income losers...

Finally someone who makes decent life choices. If only the economy were composed of more people like you.

ResistanceIsFeudal wrote:

I choose not to participate in poverty. How about you?

I've chosen to participate twice, proving what an idiot I am.

(Once for grad school (which I stayed far longer than most) and once for starting a self-funded biz.)

Firemane wrote:

I'm guessing the notes about "statistically significant" are related to whatever the margin of error is in regards to the data gathering for these reports.

The errors are here: ftp://ftp2.census.gov/programs-surveys/cps/techdocs/cpsmar14.pdf

They sample 54,000 households. A one-sigma sampling error is therefore sqrt(54K)/54K, or 0.43%.

That's just the sampling error. CR's headline really should have been

Census: Poverty Rate, Real Median Income had no statistically significant change in 2013.

Rob Dawg wrote:

Same number of people in poverty but the rate declined a half percent?

Let's call it the poverty participation rate.

Outsider wrote:

I didn't say that. JFTR.

But you were thinking it, and the voices in your head are loud.

tg wrote:

Bless those who persecute you; bless and do not curse them.
romans 12

TIL where "bless your heart" came from.

Whiskey wrote:

OT: Wouldn't it be funny if the heart of the American consumer economy, the NFL, skipped a beat?

Looks like we know what the downturn in Q3 will be blamed on.

KidPsych wrote:

Whatever you're drinking (or smoking), please put it down.

Really? I'm thinking JD has a bright future as a high-paid TV network executive.

traderwalt wrote:

but everybody cheats a little.

We've been pretty good. The wife and I cast it as "The equal volume rule" : for whatever comes in, equal or greater volume must leave. We moved 9000 lbs when we got to SM, I'm sure we've lost at least 1000 since. (hooray for tax deductions too!)

The problem is the biz: Every so often you need new and better equipment, but you retain the old stuff for backup in case of emergency.