Recent comments by yuan

I'm sure you can set a PAC up as a non-profit (in fact i think they are by definition)

so...letting a billionaire set up a secret pac is the same thing as letting a union that represents millions of people donate money with full transparency?

also..would you argue that unions should not be able to make political donations??

unions are not for-profit entities.

we at HCN campaign headquarters are for drone expansionYoure only as good as your last envelope

and strawmen!

Yet it appears that ongoing mental illness operates to block a lot of potential solutions for the perpetually homeless.

i blame reagan!!! no, seriously.


Ronald Reagan’s shameful legacy: Violence, the homeless, mental illness -

of course...what's interesting is watching the lefties try to claim moral high ground on the issue though.

are you trying to argue that the democratic party is a party of the "left"?

I don't think many liberals are all that passionate about taking in strangers with a myriad of problems that caused them to become homeless, that's a bit of a pipe dream.

big city limo-libruls are notorious for developing and implementing laws that criminalize houselessness (e.g. making it illegal to sit in public or panhandle). this is not a partisan issue. it's an empathy issue and mainstream 'merka has a gaping empathy hole.

However, restoring abandoned homes in the 3rd and 5th wards, to tweak Utah's approach, would make a big dent. You'd have to provide the services, however.

utah's approach also involved repealing laws that punished the houseless as well as large investments in social services.

The surprisingly simple way Utah solved chronic homelessness and saved millions - The Washington Post

LOL! They decriminalized homelessness in utah and invested heavily in social services. In other words, the approach used in SLC is the exact opposite of the current trend towards criminalization of people living on the street (via camping, sitting, vagrancy, and nuisance laws) in many Red Team==Blue Team metro areas.

Why haven't the Christians pick up on this?

they have! prisons, boot camps, and deportation are the conservative version of opening up your "home". after all, a home is where you live -- voluntarily or involuntarily.

the homeless definition...I didn't claim it would cure mental illness, or alcoholism, or drug abuse, etc. But everyone would have a home..

yes...let's just redefine homelessness in an absurdly narrow fashion so one can make a vacuous partisan point about how insurmountable and impossible the problem of homelessness is (and how naive compassion and respect for human life is).

Yes, I say your heroes because your attempt to paint this as a partisan issue betrays you. Just sayin'

Bic Flick

In contrast to the well run CCC camps in the USA, up in Canada, they had these awful places called "relief camps"

McNaughton suggested that the men be sent to rural relief camps where they could neither vote nor organize. The camps were voluntary, but those who resisted could be arrested for vagrancy.

sounds like a conservative paradise!

Sexual assaults are also not uncommon.

Many of the shelters are not safe.

Fixed It For Ya

Most of the shelters are not safe.

Chip implants?

With micro-explosives if the illegal replicants go rogue.

Artificial Unintelligence - The New York Times

Krugman addresses the ubiquitous HCN meme that QE is interference in the "free market" of interest rates (bwahahahahahah!).

i.e. I hate short-term traders until the day I need to sell my long-term holding

i remember a time when FIRE was not 20% of GDP and trades took days to close out.

also, funny how index mutual funds can be bought at 0.04% (at end of the day) without a bid-ask spread.
just sayin'

Any rides planned this weekend? I'm planning to go for a couple of rides.

Riding back home from work and then to a shindig this evening.

How exposed are American households to the stock market? | The Big Picture

The stock market is a casino for the rich. We need to tobin-tax the fuck out of it and ban short-term trades.

don't forget the benefit. The Fed is the largest holder of US debt. When those treasuries are finally cancelled and/or the principle is "repaid" by one governmental agency to another

i can only see your scenario occurring if we go full-on Sushi -- decades of secular stagnation. otherwise, the fed has made it very clear that it's planning to reverse-repo the No one 17 and under admitted out of its inflated balance sheet.

the bankster-infested fed is a pawn of the oligarchy but it generally does what it says it's going to do.

But what if in modern America the right is much more wrong than the left? Not a possibility they’re willing to contemplate.

Fear of Asymmetry - The New York Times

What if???

it appears the QE debt montizations are not going to be reversed

Categorizing conventional roll-over of securities as "QE debt montization" is causing your debt-puritan tighty whiteys to show.

AKA North Kali and Far North Kali.

Fixed It For Ya

middle cascadia


Fed's Kocherlakota: 2015 rate rise not appropriate - Yahoo Finance

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday he does not believe the Fed should raise interest this year, and the central bank may have to consider further quantitative easing.

Dr. Yellen: How I learned to stop worrying and love the ZIRP.

Fed's Kocherlakota: 2015 rate rise not appropriate - Yahoo Finance

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday he does not believe the Fed should raise interest this year, and the central bank may have to consider further quantitative easing.

Dr. Yellen: How I learned to stop worrying and love the ZIRP.

The Fed needs to do secret QE to punish savers."

And the ironic thing is that the Fed actually rescued the savers.

Fleecing rich people is an important societal function.

Fixed It For Ya Fleecing rich people is essential for a functioning modern society.

Only inflation that would do much good would be wage inflation.


what's the point of even talking about inflation if we can't agree on a definition of inflation. price increases are not necessarily inflation!

Gee, he must be a libertarian nut. Everyone knows the Fed is independent of politics and special interests, boldly fulfilling its mandate of lending to Goldman Sachs as the last resort, so they can trickle down god's work on the muppets.

∞ strawmen now yogi

Meh ... there are lots of grammar/punctuation liberties taken in English composition that go unnoticed by non grammar Nazis.

no i'm talking about the fact that we have to memorize the spelling of words when just about every other greco-roman script is phonetic.

It is easy enough to show that inflation(price level) is generated, even now, commensurate with the supply of money

just because liquidity traps are infrequent does not mean they do not exist:

More people speak English as a second language than as a first language.

got no problem with the speaking. it's (omg i used the correct its!) the writing that is all messed up.

We could raise taxes to pay poor folks to bury stuff in mines, then pay them to dig it up, and still come out ahead.

Paying poor folks to destroy poorer nations and then paying contractors to regime build is very Keynsian (and Kafkaesque).

If you think debt/income is unbounded, then its fair to say there is no optimal limit on the quantity of money-credit at any given time.

absolutely not! at some point default is the only sensible option. in fact, you can see me consistently arguing that default is the best choice when monetary constraints or lack of access to credit prevent inflating away debt. neither of these things is true for the USA and i doubt they will be true for the us during my lifetime.

btw, for posterity here is the koo note that really influenced my thinking on QE:

Nomura - Koo on QE2 - 17 May 2011.pdf - Google Drive

even its ridiculous non-phonetic rules are inconsistent.

the idea that "spelling" is a completely unnecessary thing is an affront to anglo-saxon exceptionalism.

demand is basically infinite

since there is demand for intangible things like ideas/information this is true to some extent.

and its just a matter of printing enough money to realize the growth we all deserve.

my position has always been influenced by koo and his claim that QE is largely an ineffectual policy.

cites of koo at hcn:

mp (44)
EvilHenryPaulson (43)
RE (14)
yuan (13)

damn...i miss mp.

I guess one would have to show that n,n-1,n-2 etc is predictive of n+1 to say whether the time series provides evidence or not, but that would sure cramp our style here(including Bill's).

If rent prices mean anything there is still a lot of pent up demand. Safe as apartments?

Multi-family housing is still booming on the west coast. Other than wishful thinking by the MBA is there any evidence that starts are topping out?

I see no evidence of this on FRED:

Privately Owned Housing Starts: 5-Unit Structures or More - FRED - St. Louis Fed

quit while you're ahead

i suggest ignore. the posting volume is jas-esque today.

Why i am allways

english is such a dumb language. even it's ridiculous non-phonetic rules are inconsistent.

maybe some day, the anglo saxon world will adopt a phonetic system (and/or the metric system).

QE has been used by CBs around the world including China. It is just part of the CB toolbox. Buyer's discretion.

Ruh-roh you said the Q word.

OMG! The Gnome lives!

A veritable hydra.

Just because simpletons are horrible at abstracting by no means implies that they understand demand. Quite to the contrary.

Nice to see you around RE. Credit crises (somewhere) significantly raise the discourse here.

mof-yogi: since your stalking is cluttering up the comments section i'm putting you on ignore temporarily.

Yuan says: don't blame the Fed. Hands off the Fed. Why all this talk about the Fed.

I recommend CostCo, yogi. They sell strawmen in bulk!