Recent comments by RE

Rob Dawg wrote:

Fine. To the month since you used month as the metric when to the month did humans start tracking global temperatures?

Jimmy Kimmel addressed deniers very well

Toilet Water PSA - YouTube

SPOOL wrote:

Czars gotta Czar.

Or not czar as emergency hotdog pointed out .

ResistanceIsFeudal wrote:

Reality is here, I see.

Fixed It For Ya

Taxes aren't even on the same planet.

Comrade Gibbon wrote:

You mean where the Federal government took all of the private sector debt onto it's books? That WWII?

Reality is heresy.

Crashes are also a lot cheaper...

Next, somebody is going to claim that it took WWII to get out of the depression. No money printing then.

Pigged ResistanceIsFeudal wrote:

I don't travel their circles, but I imagine they notice one another suddenly growing wealthier...

But let's not dare tax that newly found wealth.

We much prefer a crash because J6P has done so well during banking panics. Snark

ResistanceIsFeudal wrote:

I don't travel their circles, but I imagine they notice one another suddenly growing wealthier...

But let's not dare tax that newly found wealth.

J6P has done so well during banking panics. Snark

ResistanceIsFeudal wrote:

We confused it with sustainable economic growth and a recovery, so I think the plan worked, ultimately.

I'd argue its primary purpose was to boost confidence in the financial system by underpinning MBS values. The direct impact IMO was minimal.

Rob Dawg wrote:

No! Banks live off fees. Thus the massive decline in the velocity of money is far more injurious than any decline in rates.

How different is velocity once you subtract excess reserves? Excess reserves provided a one-time economic boost before retiring to the sidelines.

Rob Dawg wrote:

Discussion of real and nominal GDP and all surrounding it. A must read:

What a silly article. Lots of opinion, short on facts.

  1. The other problem with the skepticism is the implicit assumption that NGDP is some vast thing, and that a central bank would have trouble nudging it this way or that. No, real GDP is a vast thing, and as I said can be pictured in one's mind's eye. NGDP is a tiny thing, no larger than a dollar bill. Suppose the Fed depreciates the one-dollar bills that it has a monopoly on producing, from 1/17,000,000,000,000th of a year's output, to 1/18,000,000,000,000th of a year's output. Then they've just boosted NGDP from $17 trillion to $18 trillion.

What about velocity, latency, etc, etc.

Check out the correlation between money supply growth and nominal GDP.

http://research.stlouisfed.org/fred2/graph/fredgraph.png?g=OeO

Incredible.

fudge_hend wrote:

That's because they didn't have kids.

Smile

Vonbek777 wrote:

Vegetarians have much lower sperm counts - Telegraph

But live longer.

Vegetarian diet linked to longer lifespan - Health News - NHS Choices

... After adjustments, vegetarians (all vegetarians combined) had a 12% reduction in the risk of death from any cause compared with non-vegetarians (hazard ratio (HR) 0.88, 95% confidence interval (CI) 0.80 to 0.97).

Vegetarians also had a reduced risk of death from causes other than cardiovascular disease or cancer (HR 0.85, 95% CI 0.73 to 0.99). More specifically, vegetarians had a reduced risk of death from kidney problems and deaths from hormonal (endocrine) problems. Male vegetarians only also had a significantly reduced risk of death from ischaemic (coronary) heart disease and from cardiovascular disease overall. ...

sporkfed wrote:

Tax policy always picks winners and losers.

Any law picks winners and losers.

Rob Dawg wrote:

I do not begrudge the true costs. What pisses me off are the melded costs like recently when Obama spoke at a UC commencement and took in two fund raisers but the UC speech covered the costs as federal and not political.

Taxpayers pay for Bush's campaign travel - politics | NBC News

Jackdawracy wrote:

Looks like the brothers Koch just missed being the biggest political spenders by only 59 spots.

Signs That the Dark-Money Apocalypse Is Upon Us | BillMoyers.com

... Koch-linked groups ran nearly 44,000 TV ads from January 1, 2013, to August 31, 2014, according to the Center for Public Integrity. Here’s another way of looking at that number: 1 out of every 10 TV ads in that 20-month time period came from a group affiliated with the Kochs’ political network. These groups include the Koch network’s flagship organization, Americans for Prosperity, the American Energy Alliance, Concerned Veterans for America, the Freedom Partners Chamber of Commerce, Generation Opportunity and the 60 Plus Association.

...

Don’t think that the dark-money action is all on the Republican side. Not only do Democrats have their own political sugar daddies — see Tom Steyer, the retired hedge fund investor who’s pledged to spend $50 million of his own money this year on congressional races — but pro-Democratic dark-money groups rank among the biggest spenders in this year’s contests.

Jackdawracy wrote:

How much of the loot in the various quantitative easings went to Citizens United?

I thought I just read that the Kochs are the biggest political spenders.

Jackdawracy wrote:

Yeah, totally taken out of context, and besides it isn't as if he can do whatever he wants, not as long as the puppet masters on Wall*Street are wielding the strings.

With Citizens United that's basic reality except it is money not just Wall Street that reigns.

Rob Dawg wrote:

Indeed it was. I posted the text. Now, Point out the parts with which you disagree and for extra credit compare them to the text in the Civil Rights Bill of 1964 in the US Constitution.

I just told you.

yuan wrote:

What exactly does a small joke about violating diplomatic protocol have to do with 2 cases of transmitted Ebola in a private corporate hospital in the very, very Red Team state of Texas?

I just checked and you are right. Ridiculous out of context quoting. Spin.

RE wrote:

Where is that quote in the link?

An explanation would help credibility.

EDIT: Got it!!

Rickkk wrote:

"That's the good thing about being president, I can do whatever I want."

Where is that quote in the link?

Rob Dawg wrote:

Point out the parts with which you disagree and for extra credit compare them to the text in the Civil Rights Bill of 1964 in the US Constitution.

What don't you understand about institutionalizing majority advantages under the guise of Civil Rights. Affirmative action was eliminated for the UC under this Orwellianly titled initiative.

Proposition 209 (also known as the California Civil Rights Initiative or CCRI)

Also, and very importantly, legality and fairness are not even remotely the same thing. Only for spinners it comes close.

Rob Dawg wrote:

I hear this all the time but rarely hear the list of new criteria.

I'd be much happier with UC standards before the Orwellian Prop 209.

sm_landlord wrote:

Everyone starts out at the same point, but culture is absorbed in early childhood.

It's not just culture but opportunity.

Varying college admission criteria based on background should be a given.

Same starting point?

Poor kids who do everything right don’t do better than rich kids who do everything wrong - The Washington Post

...Even poor kids who do everything right don't do much better than rich kids who do everything wrong. Advantages and disadvantages, in other words, tend to perpetuate themselves. You can see that in the chart above from Richard Reeves and Isabel Sawhill, presented at the Federal Reserve Bank of Boston's annual conference, which is underway.

Specifically, rich high school dropouts remain in the top about as much as poor college grads stay stuck in the bottom — 14 versus 16 percent, respectively. Not only that, but these low-income strivers are just as likely to end up in the bottom as these wealthy ne'er-do-wells. Some meritocracy. ...

1 currency now -yogi wrote:

Yes, I know. Would that have stopped the Spanish from taking it?

Of course not.

It is actually quite indicative that even under a gold standard the money supply consistently loses in value due to the cost of protecting it.

1 currency now -yogi wrote:

Every currency is backed only by trust (confidence). It didn't do the Inka much good to be able to pay ransom to the Conquistador in gold.

Gold wasn't Inca currency.

Economic productivity was based on collective labor which was organized in order to benefit the whole community. The ayni was used to help individual members of the community in need, such as a sick member of the community. The minka or team work represented community service and the mita was the tax paid to the Inca in the form of labor. The Inca did not use currency, economic exchanges were by reciprocity and took place in markets called catus.

http://fas.org/sgp/crs/misc/R41887.pdf

By the end of the 19th century, another form of money had become increasingly common: checks. Although checks had existed for centuries, state banks—compensating for the loss of their ability to issue notes—innovated them further. Improvements in transportation and communication, and the growth of clearinghouse associations, made it possible to use them in transactions between customers of different banks, and to some extent different regions of the country.

Checks functioned much the same as banks notes had: they permitted the public to conduct business with a smaller amount of coin and legal tender than they would have otherwise. Only a fraction of the money placed in checking account deposits had to be kept on hand or on deposit with clearing agents. Most transactions were settled by canceling debits against credits.

Checks also suffered from the same defect that bank notes had earlier in the century: banks were prone to periodic runs by customers demanding cash from their checking accounts. Because banks only kept a limited supply of legal tender and bank notes at any given time, these massive conversions of accounts for cash created crunches and sometimes caused banks to fail. The failure (or potential) failure of banks and losses from uninsured deposits created that much more incentive for depositors to withdraw their funds, producing more bank runs.

These periodic banking panics were symptomatic of a less dramatic but more regular problem: the seasonal variation in the need for currency for transactions. The system of gold and legal tender notes was not elastic, and it was subject to money “shortages” especially at harvest time. ...

Bubblisimo Gerkinov wrote:

Cut out the middleman?

It is much worse.

Now the poor are constantly approached for election funding to match corporate and billionaire war chests.

Democracy's free market version.

ResistanceIsFeudal wrote:

We are down to very few tricks in the trick bag. But Yellen will protect asset prices all she can.

When there are no tricks left to give it's time to turn some..

Strangely enough that worked in 1933-37....

Rob Dawg wrote:

They cannot even admit to being liberal. That alone is reason enough to criticize. It isn't a label.

Who is "they"?

arthur_dent wrote:

I always wondered if this altered CRs perspective, or was just so much noise,

I've been on boards with CR since 2001. He has hardly changed IMO whereas I changed a lot.

bearly wrote:

I don't give a shit if some person gets dengue in Haiti and boards a plane - There's no epidemic or threat of one and I am not going to catch anything from that individual.

Is that a concept you are capable of grasping ?

Hmmmmm

Dengue Fever Makes Inroads into the U.S. - Scientific American

Most Americans lose little sleep over dengue fever. The mosquito-borne infection is a leading killer in the tropics and subtropics, but it’s been a long-held belief that ubiquitous air-conditioning, few open windows and limited time outdoors protects us from dengue. And in fact, for the past century most U.S. cases (except those near the Texas–Mexico border) were isolated to immigrants or travelers. In recent years, however, locally acquired cases of the disease have started to appear in pockets of the U.S. Now, researchers fear dengue could be gaining a significant foothold here.

bearly wrote:

Be sure to prevent a mosquito bite.

With reasoning like that there's a place for you on Obama's cabinet.

You can get dengue virus infections from the bite of an infected Aedes mosquito. Mosquitoes become infected when they bite infected humans, and later transmit infection to other people they bite. Two main species of mosquito, Aedes aegypti and Aedes albopictus, have been responsible for all cases of dengue transmitted in this country. Dengue is not contagious from person to person.

bearly wrote:

Is it contagious ?

Numbskull.

Be sure to prevent a mosquito bite.

bearly wrote:

[President Obama now says it may be necessary to appoint a czar to oversee federal response to Ebola]

I want a dengue czar....

The incidence of dengue has grown dramatically around the world in recent decades. Over 2.5 billion people – over 40% of the world's population – are now at risk from dengue. WHO currently estimates there may be 50–100 million dengue infections worldwide every year.

We should have closed borders long ago.

Summary of Notifiable Diseases — United States, 2011

Travel-associated dengue is the leading source of dengue in the U.S. areas that are not endemic for the disease, with 243 cases reported in 2011. Travel-associated dengue cases from residents of the U.S. areas that are not endemic resulted from travel to the following 42 foreign countries or U.S. territories: Puerto Rico (31), Bahamas (27), India (27), Bangladesh (16), Philippines (16), Haiti (14), Dominican Republic (10), Brazil (eight), Cuba (seven), Trinidad (seven), Costa Rica (five), and <5 cases from the Antilles, Aruba, Bermuda, Bolivia, Colombia, Curacao, Ecuador, El Salvador, Ghana, Granada, Guatemala, Guyana, Indonesia, Jamaica, Kenya, Laos, Malaysia, Mexico, Nicaragua, Pakistan, Panama, Peru, Singapore, Sri Lanka, Saint Lucia, Sudan, Thailand, Turks and Caicos, U.S. Virgin Islands, Venezuela, and Vietnam.

josap wrote:

How many confirmed cases?

2

So whenever we have two confirmed infectious disease occurrences we need to start closing borders?

bearly wrote:

This outbreak has caused panic and cost at least $1 BILLION so far, with all the disruptions.

How many confirmed cases?

bearly wrote:

“First and foremost, I want the American people to know that our experts, here at the CDC and across our government, agree that the chances of an Ebola outbreak here in the United States are extremely low,” Obama said.]

You Don't have to be a Brain Sturgeon !

You definitely aren't one.

What is an outbreak?

According to the CDC, an “outbreak” is the occurrence of more cases of disease than normally expected within a specific place or group of people over a given period of time.
What is the difference between an outbreak, and epidemic, and a pandemic?

An “outbreak” and an “epidemic” essentially mean the same thing to an epidemiologist, but the term “epidemic” has a more serious connotation than “outbreak” and is used less frequently to avoid the perception of a crisis situation. A “pandemic” refers to a disease epidemic that is widespread and often global.

resusitate wrote:

Yes, this policy was introduced and implemented to circumvent prop 209 that struck down affirmative action. Supreme court decision supported school's discretion on admission policy.

As it should unless you believe that everyone has the same starting point.

And it's quite universal, in India brahmans used the same arguments against untouchables.

josap wrote:

Many on Main Street have figured it out. They are paying down debt, not getting more debt.

Paradox of thrift - Wikipedia, the free encyclopedia 

sum luk wrote:

Unless and until we generate some real WAGE DRIVEN inflation to create a debt jubilee, and get some consumption going again, the deflationary cycle will just continue.

Nominal wage deflation is many times worse than real wage deflation.

The adjustment to the boom times has to happen somewhere. Choose wisely.

ResistanceIsFeudal wrote:

No, handing free money to spendthrift idiots with which they only bid up and speculate on consumption items and non-productive assets only delays and exacerbates the deflationary tide.

Welcome to 1930/1937............. A LOT to learn!

Hackman wrote:

There is more than one big lie.

The "big lie" is most often what we personally dislike. Not always but....

ResistanceIsFeudal wrote:

Deflation is baked in at a demographic level. Monetary policy works until it doesn't.

Which is why we should demand fiscal support but the establishment has "Germanities".

JP wrote:

So what have we learned today? As long as the Fed says it will continue QE, the market will not crash.

Well then, it looks like we have a strategy going forward.

The past provides some guidance:

Liberty Street Economics

The Mistake of 1937 was a preemptive policy tightening in a fragile economic environment. Specifically, it was a decision to abandon the policy of “reflation” introduced in 1933. After prices tumbled during the 1929-33 depression, the administration of Franklin Delano Roosevelt (FDR) and the Federal Reserve made a commitment to increase the price level to pre-depression levels. (For more on this key initiative of the 1933-37 recovery period, see my article in the American Economic Review, “Great Expectations and the End of the Depression.”) The reflation policy was backed by an aggressive increase in government spending, the maintenance of large deficits, the abandonment of the gold standard, and monetary easing. If we accept the account of modern macroeconomic models, this reflationary policy mix can be very expansionary once the short-term interest rate is constrained at zero (as it was at the time). Why? Because at zero interest rates, if people start expecting that prices will rise instead of continuing to fall, the real rate of interest—a critical determinant of aggregate spending—turns from positive to negative. Thus, it becomes economical to spend money rather than save it. A further benefit of reflation is that it can repair balance sheets of overleveraged households and firms, a point explained in more detail in my recent paper with Paul Krugman, “Debt, Deleveraging, and the Liquidity Trap.”

The Mistake of 1937 was to relinquish the benefits of reflation and to set all policy levers in reverse. The Fed and key administration officials hinted at interest rate hikes and endorsed austerity in fiscal policy; the key concern now was containing inflation rather than sustaining recovery.

Antipodes wrote:

The US has ebola. Need to restrict travel of people in the US from leaving the US?

Good point...

Rob Dawg wrote:

Agreed as to Gartner but think about "winning." In the next three months I am going to get an iPhone 6 and a couple Android tablets in the $60-$90 range. Google Android wins hands down 2:1 right?

Google, because it is advertising centric, cares about markshare much more than device profitability. More than 50% worldwide device marketshare means that no software maker can look beyond Android reinforcing the mojo.