Recent comments by yuan

Obamacare is another step closer to the Supreme Court. Again. - Vox

The hyper-politicization of US courts is starting to make Italian governance look good.

US District Judge Thomas Griesa

thanks for the correction.

US District Judge Thomas Greasy has provided legal cover for extortion of financial markets by sociopathic hedgie scum. And his utterly moronic decision could lead to FIREworks the next time there is sov default contagion.

Got Popcorn?

I'm curious how you see this playing out. Looks like Argentina is in an impossible situation, i.e. they literally cannot afford to comply with the combination of court orders and consequences of following them.

Argentina is basically pay as you go and has relatively low deficits. This may result in a mild recession but Argentina is going to move on. The real potential damage is to financial markets. Judge Greasy threw in a big Nemo's Monkey Fixed It For Ya wrench into the workings of sovereign debt and debt default swaps.

I'm curious how you see this playing out. Looks like Argentina is in an impossible situation, i.e. they literally cannot afford to comply with the combination of court orders and consequences of following them.

Meh. Argentina is basically pay as you go and has very little deficit spending. This may result in a mild recession but Argentina is going to move on. The real damage here will be to financial markets. Judge Greasy threw in a big monkey wrench into the workings of sovereign debt and debt default swaps.

It will be fascinating to see whether Argentina's CDS are triggered. Apparently Argentina's payment is still in sitting NY (e.g. they made the payment) so it's quite possible that the ISDA will not trigger a selective default. That will likely result in quite a bit of pressure on Judge Greasy.

Lost?

Judge Greasy can hold all the hearings he wants but those Red Team hedgies are not going to get a single peso from the real red team in Argentina.

She only has about $100K, after 20+ yrs of contributions. Will work out to about $400.00 mo before taxes.

Someone with that bad a track record should just freaking buy an inflation-adjusted annuity and collect a $500 check each month.

i bought some ivv today...we will see.

there are some fluffy clouds in the sky today and the stock market went down today.


now this financial kerfuffle has long-term implications:

If there's a judge who's an agent of these speculative funds, if the mediator is their agent, what is this justice you're talking about? There's a responsibility of the state here, of the United States, to create the conditions for the unconditional respect of other countries' sovereignty," he told a press conference in Buenos Aires.

He accused US District Judge Thomas Griesa and court-appointed mediator Dan Pollack of "incompetence" and said Argentina would take the matter to international courts.

And after argentina calls Griesa's bluff:

Griesa, meanwhile, set a hearing on the case for Friday at 11 am (1500 GMT), a court spokeswoman told AFP.

The Red Team loves holding hearings on causes they lost.

shill wrote:
The liberal poker hand:

Fixed It For Ya

Racism

People of color.

Men telling women what to do with their bodies.

Women.

Fundamentalists who are against long-term relationships and commitment

LGBT.

NRA

Parents with children.

Nannyisum

The 99%.

And you forgot

War on Illegal Aliens

People who immigrated to north america in the recent past.

War on drugs

Young people, aging hippies and people with sick relatives.

War on turrurist-stan.

Anyone who is a muslim (and sikhs, hindus, buddhists etc.)

bearly:

Lots of nagging issues...

self insight from bearly?

My Head Just Exploded

The Muslims will be able to pick up the slack, post Eid-al-Fi

and an عيد مبارك to you too, bearly.

The Nano Thermite was Muslim?? Link? Quote??

New Keyboard

Talk about a big deal from a Nothingburger

In the real world...true. In the GOP/birther world this is a freaking political Tsunami.

Crazy racist site quoted by Shill:

Muslims Built 'The Very Fabric of Our Nation'

versus

Our center-right black president:

Eid also reminds us of the many achievements and contributions of **Muslim Americans to building the very fabric of our nation and strengthening the core of our democracy.

Obama: Muslims Built 'The Very Fabric of Our Nation'

selective quoting: check.
birther conspiracy theories: check.
hating the black DINO who stole their health plan: check, check, check.

Druckenmiller, Grantham, Gundlach

wall street/hedgie scum

Shiller for the most part.

you mean that keynsian fed-apologist who wants to tax [spittle] the godly and moral wealthy?

Robert J. Shiller

on Debt-Friendly Stimulus

- Project Syndicate

This is the paradox of thrift...There is a way out of this trap, but only if we tilt the discussion about how to lower the debt/GDP ratio away from austerity – higher taxes and lower spending – toward debt-friendly stimulus: increasing taxes even more and raising government expenditure in the same proportion. This kind of enlightened stimulus runs into strong prejudices. For starters, people tend to think of taxes as a loathsome infringement on their freedom...

Shiller: What We Can Learn from Past Crises -

That's an issue. Right now the stimulus continues, at least certain kinds of stimulus,like monetary stimulus continues, not fiscal stimulus so much

US employers plan to cut payrolls by 46,887 in July: Challenger

Garçon, my water glass is 1/10 empty!

Obama to GOP: Stop hating - Kendall Breitman - POLITICO.com

there are some financial voices on which I rely, Barry R is not among them.

let me guess...krudlow?

Seriously? Like in full on government owns the means of production socialism? Workers own the factories? (Fry cooks own the McDonalds?)

silly murrican. socialism is not communism -- despite what you hear on the teevee and radeeo.

Where are we going to get that money?

Some of it will undoubtedly come you and your heirs.

Socialism is coming...

GDP Update | House of Debt

glass half full: onwards and upwards...slowly.
glass half empty: balance sheet recessions suck.

It's been a long, cold, lonely winter.
Rising Revenue + Increased Profits = Bull Rally | The Big Picture

blinks into glare.

Can anyone recommend some darker tinted Rose Colored Glasses.

Good news, everyone!
Bond Default by Argentina Appears Likely - NYTimes.com

Nothingburger (unless you are a vulture fund)

35K gallons/min, in a drought year.

we will sell you some delicious pnw water for a price...

http://www.census.gov/people/wealth/files/Debt%20Highlights%202011.pdf

In 2011, 69 percent of U.S. households held some form
of debt. This represents a decrease from 2000 when 74
percent of U.S. households held debt.

Of course the Dems have what Hillary and Joe Biden?

I haven't voted for a corporate fascist democrat in a very long time, Engineer Jim.

The average American household with at least one credit card has nearly $15,950 in credit-card debt (in 2012)...

Doh!

Economics is hard

You know, that's not the first time I've heard the link made. Starting to look that way.

Thankfully the rethuglicans have a deep reservoir of intellectual and moral strength to draw from for a POTUS run in 2016.

Romnbama.
Randian Paul
Rick (the texan village idiot II) Perry

and almost forgot about the (fat chance) dark horse Jeb (RINO with one of them people for a wife) Bush.

Ron Paul:

"I think there's plenty of inflation, but my definition of inflation is a little different than the rest, because I think prices going up in the different areas is a consequence of inflation," Paul said on Tuesday's " Futures Now ." "There's a lot of inflation in the stock market. I think there's a bubble there."

Doh! Doh! Doh! Doh!
Economics is hard Economics is hard Economics is hard Economics is hard

John Hussman: Yes, This Is a Bubble (And It May Be Worse Than 1929) - MoneyBeat - WSJ

Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!! Dooooooooooooooom!!!

And then this gem:

“Our best response at this point is simply to maintain a defensive stance without fighting the market or taking investment positions that rely on immediacy of negative outcomes,” Mr. Hussman says. “That’s as much capitulation as one is likely to get from us here.”

Huh???????

How Paul Krugman Fudged Truth - Barron's

Eeexelent!

As I pointed out in my write-up, the extended alternative is more realistic than the baseline scenario.

So why the fuck do they call it the baseline scenario?

In contrast, in the extended alternative, the agency assumes that this spending would "rise by 2024 to its average as a percentage of GDP over the past two decades." That's more plausible than the extended baseline

Of course no explanation of plausibility is provided. So...I will speculate into the vaccum:
Maybe it's more plausible because a black man who stole the GOPs healthcare plan is POTUS.

and ironically faulted the writer of the op-ed for omitting to mention that he is not reporting the baseline numbers.

Let's just pick an "alternative" worst-case projection and pretend it's the baseline? What could possibly be misleading about this?

PS: Krugman is still a capitalist free-marketeer.

PPS: Socialism is coming.

ResistanceIsFeudal wrote:

Bah! In the progressive future, we will all be living in 1/3 that much space in ultra-urban metroplex cultural centers! With light rail! And added sophistication!

e.g. Portland.

Ass Burger Blog Destruction 2014 PPV fight

Wright Model B vs RobRuh-roh

Funniest part is Seb your not wrong the data you rely on is. Bottom line it's fabricated , why you fail to see this is puzzling to me and I'm sure many others.

This is why we hire Indians to copy edit in the USA.

Online Copy Editor Jobs - H1B Visa Jobs

I choose the Q1 2014 GDP.

I choose the Q2 2008 GDP!

:rolls eyes:

Did everyone note that the Kiev coalition government has collapsed?

The government has not collapsed. This is how parliamentary systems in europe work.

This option was probably agreed on by political parties seeking elections and the president.”
The government and the current parliament will keep working until new institutions are formed, he said. Olga Lappo, Yatsenyuk’s spokeswoman, declined to comment when reached by phone today.

Seb:

and get me some darker ones, as things are getting brighter...

Ba-da-boom-TISH

The unemployment rate fell from 8.19% two years ago down to 6.1% now. Doesn't seem unreasonable at all that it could drop another 1% in another two years.

But this might lead to inflation increasing more than 1-2% per annum!

In other words, TEOTWAWKI!

bearly:

[Motor fuel was up sharply in June]
Lucky for us that doesn't contribute to cost increases elsewhere or we might actually get broad based price increases.

AWOOOOOGA!
Inflation truther alert!
AWOOOOOGA!

Graph: Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma - FRED - St. Louis Fed

Via BR.

Maybe the Fed should try lowering interest rates.

Fixed It For Ya

Maybe the Fed should have tried negative interest rates.

Pigged

yuan wrote

PS: I purchased a box of wheat thins and was horrified to realize that it now weighs 9 ounces when it used to weigh 10 ounces.

RiF responded:

That could seriously cramp your standard of living! How many boxes of wheat thins do you normally buy in a year?

They are a substantial part of my diet. I tried to hedonically adjust to saltines but they snap and crumble when I try to scoop up hummus or tuscan bean dip.


The Inflation Truther Crank Index - Bloomberg View 

Owners equivalent rent has rightly been criticized for its role in understating inflation. (See e.g., How Housing Lowers CPI).

Today, owners equivalent rent is creating the opposite problem.Lack of credit has driven people into the rental market, driving up rents and overstating inflation

Obviously Barry effing Ritholtz does not buy wheat thins!!!!

That could seriously cramp your standard of living! How many boxes of wheat thins do you normally buy in a year?

They are a substantial part of my diet. I tried to hedonically adjust to saltines but they snap and crumble when I try to scoop up hummus or tuscan bean dip.


The Inflation Truther Crank Index - Bloomberg View 

Owners equivalent rent has rightly been criticized for its role in understating inflation. (See e.g., How Housing Lowers CPI).

Today, owners equivalent rent is creating the opposite problem.Lack of credit has driven people into the rental market, driving up rents and overstating inflation

Obviously Barry effing Ritholtz does not buy wheat thins!!!!

On a year-over-year basis, CPI is up 2.1 percent, and core CPI is up also up 1.9 percent.

It burns! The hyperinflation burns me!

PS: I purchased a box of wheat thins and was horrified to realize that it now weighs 9 ounces when it used to weigh 10 onces.