Recent comments by sum luk

… have a great weekend and feel free to start the correction while I'm gone.

Jackdawracy wrote:

Adrian could've used a cat o' nine tails on his tykes

.. ironic when you view it over a couple of centuries.

bearly wrote:

“Our understanding of Ebola transmission dynamics is incomplete and data on the present outbreak are limited,” the researchers said.
The US Army is sending 3,000 troops into that mess.

…. how about building regional care facilities …. say in Syria and Iraq ?

… I thought "Madame Secretary" was an assurance Hillary wouldn't run; since it virtually guarantees near term public burnout

Rajesh wrote:

I'm in favor of secession by Texas and Florida.

… if'd they'd take the entire redteam, I'd offer them more than that. ….. but no give backs!!

Belmont wrote:

boomers will be in the ground where they can do less damage to their children and the financial conditions of the country.

….

… well, I'll tell ya, the first thing you do when I'm gone ~ get rid of social security and dump unemployment compensation right behind that. Yeah, you'll be real happy when you hit 65 or so ~ assuming you keep up your current level of savings…. and your job.

Belmont wrote:

in 30 years I'll be middle aged

… so, you're a teenybopper, eh ?

Belmont wrote:

Boomers dug their own graves. They won't be missed.

… s'ok, we won't leave you anything

… feel free to start the correction before I get back

from: Marc to Market: More Thoughts about the Fed and ECB

As QE comes to an end, the Fed's exit strategy is evolving. The new information is still relatively light on details. Many expected such a statement in October meeting, but its "earliness" says nothing about the content of policy or timing, except that it is sooner than it was a few months ago. We note that next year's rotation of vote regional presidents moves in a somewhat more dovish direction than the current configuration.

… ever notice that the degree of negativity kinda follows party affiliation ?

…. maybe it's just the excessive negativity

Rob Dawg wrote:

ballot measures on lawyer behavior

… I'm sorry, I'm still laughing at that

… xrsize Its different this time …. feel free to start the correction before I get back

Sebastian wrote:

We do all know that there's a difference between cost of living and inflation, don't we?

… from: Rising Prices, the Cost of Living, and Inflation - Federal Reserve Bank of Atlanta

….In casual language, we often interpret a rise in the cost of living as inflation. They are not the same thing. Cost-of-living increases are a result of increases in individual prices relative to other prices and especially relative to income. These relative price movements reflect supply and demand conditions and idiosyncratic influences in the various markets for goods and services. If some component of a household's cost-of-living basket goes up in price, the higher cost of living is not ipso facto inflation.

In principle, the central bank could respond to the impact of rising costs in particular markets, but only by exerting downward pressure on the dollar price of all goods and services. Monetary policy is a blunt instrument without the capacity to systematically influence prices in targeted markets. Because monetary policy affects the value of the dollar across the board, the targeted item would still be expensive relative to income and relative to everything else.

Here's my second point: The Fed, like every other central bank, is powerless to prevent fluctuations in the cost of living and increases of individual prices. We do not produce oil. Nor do we grow food or provide health care. We cannot prevent the next oil shock, or drought, or a strike somewhere —events that cause prices of certain goods to rise and change your cost of living.

So monetary policy is not about preventing relative price adjustments dictated by market forces. It is about controlling the broad direction and pace of change of all prices across the economy.

… data dependent sounded so nice, they never really needed to go beyond expressing the words

shill wrote:

Which politics are those Sum?

… you are so clever, I don't see how anyone can see through you

shill wrote:

Ahh so I should just go along with the fake data and except it for what it is?

… it'd be nice if you kept your politics to yourself

dilbert dogbert wrote:

Think good thoughts for us Dividers.

…. nationwide is on your side

1 currency now -yogi wrote:

Median Incomes Fell for All But Richest in 2010-2013, Fed Says - Businessweek 
That's because of the Fed's historic activism.

… the advent of the 1% clearly starts with the reign of raygun ~ the fed is just a tool.

bearly wrote:

Treasury an extra $8 TRILLION + in the red and the Fed prints up another $5 TRILLION and that's the outcome?

see also [based on the Feds own study]: Median Incomes Fell for All But Richest in 2010-2013, Fed Says - Businessweek 

Belmont wrote:

Wages always lag

…. no, the share of income paid in wages has consistently been falling since Raygun's reign.

Citizen AllenM wrote:

nice lack of inflation, boys and girls. * * * And then deflation came for asset prices, and the rich started suffering along with the rest of us.

…….

… either that or: Dr. Ed's Blog: US Is Gushing Oil (excerpt)

Sebastian wrote:

interesting comment from a poster at Economist's View concerning machine substitution for human labor.

… see also [source caution]: American Enterprise Institute: Yes, US manufacturing is still important

Comrade Kristina wrote:

Plutocrat Predicts: The Pitchforks Are Coming

…. Doh! zzzzzzzzzz

… ok, a decade is "any" 10 year period. It starts whenever you want.

Rob Dawg wrote:

Does a decade start at '10 or '11?

… I was taught that 0 was the beginning of the numerical system

rut roh - raj saus no. now i gottta look it up

Former Idealist wrote:

Sum Luk, even you must know FX has been rigged for years.

…. apparently it's frustrating when your entire argument rests on pure animus

Firemane wrote:

Instead of literally having to spin up and entire plant or shut one down completely (during economic cycles), gains in design efficiency could potentially create additional cushion for boom times - where you have additional capacity that you CAN bring on line quickly - but that actually has very low carrying costs.

….similarly, see: Pessimism about U.S. growth rates | Econbrowser 

Former Idealist wrote:

Perpetually expanding indebtedness, prolonged zero rates, stimulative deficit spending and money creation on a gigantic scale aren't working?

from: Grand Central: Dollar Doomsayers Have Gotten the Fed All Wrong - Real Time Economics - WSJ

Let’s ponder for a moment those many critics of the Federal Reserve who have argued with great certainty for several years that low interest rates and gargantuan central bank bond-buying programs would lead to a collapse of the dollar. Boy, have those predictions been wrong.

The U.S. currency is up 5.2% this year against a broad basket of currencies, based on the ICE dollar index. It is up 9.7% since the Fed launched a controversial round of bond purchases in November 2010; up 3.1% since it first pushed short-term interest rates to zero in December 2008 and up 7.2% since the collapse of Lehman Brothers on September 15, 2008 unleashed an avalanche of Fed bank rescue programs.

Pigged

Jackdawracy wrote:

be a good citizen and trust the numbers foisted upon us as bonafide and genuine, and we all know that inflation is 1 to 2% tops, if that.

from: Dallas Fed: Measuring the External Value of the Dollar

...the real trade-weighted value of the dollar as of December 2013 was 84.91, compared with 86.69 in August 2008, immediately prior to the worst phase of the financial crisis and the launch of unconventional monetary policy. That is, between August 2008 and December 2013, the broadest measure of the value of the dollar declined about 2 percent.

…..
… n.b.: …arthur would likely find this article to be of interest

Jackdawracy wrote:

trust the numbers foisted upon us as bonafide and genuine, and we all know that inflation is 1 to 2% tops, if that.

…from: Dallas Fed: Measuring the External Value of the Dollar

...the real trade-weighted value of the dollar as of December 2013 was 84.91, compared with 86.69 in August 2008, immediately prior to the worst phase of the financial crisis and the launch of unconventional monetary policy. That is, between August 2008 and December 2013, the broadest measure of the value of the dollar declined about 2 percent.

… n.b.: …likely arthur would find this article to be of interest

Rob Dawg wrote:

The threat of deflation scares the central banks again.

… in yerp, maybe.

Belmont wrote:

Stuck in a great recession mentality.

… from: Calafia Beach Pundit: $40 trillion and counting

At their lows early 2009, equity markets were priced to five years of depression and deflation that would make the Great Depression pale in comparison. …[C]orporate credit spreads were priced to the expectation that 24% of all corporate bonds outstanding at the time and 70% of junk bonds would ...default... Instead, we've seen a sub-par recovery with growth averaging just over 2% per year for the past five years, record corporate profits, and collapsing corporate default rates. In short, the stock market is way up because the economy has performed far better than expectations.

…………………

… if the market tanks when the taper ends, BtFD

Lets take a coffee break

from: Pessimism about U.S. growth rates | Econbrowser 

…. the U.S. should expect a slower growth rate of potential output over the next decade than we saw in most of the twentieth century. But that doesn’t mean that we still couldn’t see better growth numbers for 2014:Q2-2015:Q4 than we’ve experienced on average over the last five years.

Belmont wrote:

The entire recovery is "fake." We are "Japan." "The Fed is the devil" etc etc etc…. …... just perpetual doom and Malthusian delight.

… after a while, it just bounces off and you don't notice it so much

… seems I was mistaken, Mankiw's book is far from free. … pardon my erroneousness.

… not suggesting anyone here needs this ~ just pointing out a free resource - including the book linked at the bottom of the page: Making Vox accessible to undergraduates: VoxEU Course Companions | vox

Former Idealist wrote:

Just a friendly reminder for you sheep, you are NOT in the club and will not get bailed out like rich people were.

… I don't read all this economic crap because it's interesting.

CR wrote: - …..and a big spike down when Congress threatened to "not pay the bills" in 2011.

Doh! zzzzzzz

from the link:

As of April 2014, leveraged loan funds (mutual funds that invest in leveraged loans) had experienced a stretch of 95 con- secutive weeks of inflows totaling $81.2 billion. Demand has narrowed yield spreads on leveraged bonds over Treasuries: The S&P/LSTA U.S. Leveraged Loans 100 Index yielded about 4.9 percentage points more than the two-year Treasury note in July, down from 6.85 percentage points in 2012.