Recent comments

  • The Birth/Death Index is getting more and more ridiculous. It added 118K jobs in August. That's 26,000 more than it added last year at this time.
    These numbers are going to all be revised drastically downward a year or two from now.

    It's interesting that the number of multiple job holders among men dropped dramatically.

    And then there is the seasonal adjusting again. Note the number of people no longer counted as in the labor force.
    In the seasonally adjusted numbers it rose 143,000, while subset of those still wanting a job rose 381,000.

    But if you look at the non-seasonally adjusted numbers you find people no longer counted in the workforce rose 1,578,000 (an enormous number), while the subset of those still wanting a job rose 516,000.

    Reply to: The Unemployment Rate is Bad! 9.7%   15 years 2 months ago
    EPer:
  • why it's nuts to watch the weekly initial unemployment claims.

    It's astounding. You must go back and look up each number and watch the changes.

    There is no way anyone should be forecasting on even just one month's worth of unemployment data.

    I wonder what the margin of error is (I don't see that easily in the releases).

    Reply to: The Unemployment Rate is Bad! 9.7%   15 years 2 months ago
    EPer:
  • what isn't ok, especially in Instapopulists or blog posts is making up acronyms, mnemonics as if they are economic terms, or posting serious misinformation, incorrect statistics, etc.

    Think of this as college and obviously if one wrote fictitious analysis, statistics or wrote 3 letters up at random to create an acronym that doesn't correlate to standard, economics acronyms or mnemonics....that's going to get someone an F for the test.

    Reply to: Trying to reinflate the housing bubble with taxpayer dollars   15 years 2 months ago
    EPer:
  • Past months were worse than originally reported.

    Revisions subtracted 49,000 from payroll figures previously reported for July and June. The drop for July is now calculated at 276,000, compared with the 247,000 previously reported.

    Reply to: The Unemployment Rate is Bad! 9.7%   15 years 2 months ago
    EPer:
  • With the federal loan repayment plans at least you only have to pay a percentage of your income. However, that percentage increases (under the new IBR plan) as your income does. It's like an additional progressive tax on top of our already progressive tax system, and I doubt if the majority of graduates are going to ever pay off all that debt (especially lawyers like myself - see e.g. http://bigdebtsmalllaw.wordpress.com/) given that all our jobs are being outsourced. It sure doesn't provide a lot of motivation to work hard!

    Reply to: Student Debt up 25% from a year ago, while 33% of workers below age 35 live with parents   15 years 2 months ago
    EPer:
  • Bonddad has his usual positive interpretation of the unemployment numbers.

    It would be interesting if one the bolgers on this cite would dialogue with his interpretation.

    Reply to: The Unemployment Rate is Bad! 9.7%   15 years 2 months ago
    EPer:
  • before it hit the MSM. You're ahead of the curve midtowng.

    Reply to: Trying to reinflate the housing bubble with taxpayer dollars   15 years 2 months ago
    EPer:
  • This little insiders club and that catch on someone running Fannie getting into Treasury is priceless.

    I mean what does it take? These cats literally brought the entire globe to financial meltdown, and basically almost nothing has happened to them.

    What the hell does it take to stop this revolving door, financial oligarchy, idiot mentality and boys club insider?

    Reply to: Treasury Dept. Changes Its Mission [UPDATED]   15 years 2 months ago
    EPer:
  • Some of these are politically impossible I believe, but this tax, if it was just on a commodity so strongly linked to the overall economy, the national interest, it's worth trying something like this, but I agree, this must be international, although it's clear some nations are considering it.

    Reply to: A Wall Street Transaction Tax   15 years 2 months ago
    EPer:
  • I have to admit I totally missed Neal Wollin nomination. Wow, did this guy actually lobby for a Hartford bailout?

    RebelCapitalist.com - Financial Information for the Rest of Us.

    Reply to: Treasury Dept. Changes Its Mission [UPDATED]   15 years 2 months ago
  • Overall, this is what it looks like to me. They spent trillions saving the financial oligarchy and made them stronger, meanwhile the U.S. middle class is plain getting raped.

    You have a typo, ridicules instead of ridiculous.

    Can you go into more facts, connections?

    I also don't think the Treasury changed it's mission. One could claim that has always been the mission. Geithner was involved in the NY Fed and also part of the original "bail out plan".

    Reply to: Treasury Dept. Changes Its Mission [UPDATED]   15 years 2 months ago
    EPer:
  • Loan losses concern Wall Street

    The Federal Housing Administration ... is in danger of seeing its reserves fall below the level demanded by Congress, according to government officials, in a development that could raise concerns about whether the agency needs a taxpayer bailout.
    ...
    Resulting FHA losses are offset by premiums paid by borrowers. Federal law says the FHA must maintain, after expected losses, reserves equal to at least 2% of the loans insured by the agency. The ratio last year was around 3%, down from 6.4% in 2007.
    ...
    Officials said as recently as May that they didn't expect to fall below the 2% limit, but home price declines have exceeded those used to model their expected losses. Given the pace of those declines, "there is no way they will make the 2%" if the current study follows last year's methodology, says [Thomas Lawler, an independent housing economist].

    Reply to: Trying to reinflate the housing bubble with taxpayer dollars   15 years 2 months ago
    EPer:
  • I think Tobin Tax is a good idea. Has to be international. Rate can be very small.

    But beyond that, many other things would be good. Bring back Glass-Stiegel. Abolish credit derivatives or at least put them on exchanges. Regulate compensation in finance, mandate 10 year clawback on bonuses. National usury law. Increase capital requirement based on size of banking institution, and keep increasing it until we have much smaller banks. Small banking is good, big banking dangerous to everyone.

    Return to the kind of restricted international capital flows the world had under Bretton Woods. End all agreements to the contrary such as NAFTA, CAFTA, and GATT. Abolish IMF and World Bank. Cancel all international loans to poor countries by attaching them to the crooked leaders who made them instead. Make international agreements instead to enforce the most rigorous environmental and labor standards around, including EFCA.

    International carbon tax, with proceeds divided among every living adult human in the world equally.

    Reply to: A Wall Street Transaction Tax   15 years 2 months ago
    EPer:
  • We don't need higher taxes or additional government spending to accomplish many of the things this country needs!!!

    This administration and Congress is not doing the one thing that:

    1-Costs the government no additional dollars!
    2-Offers two layers of protection from identity theft via the SSA and Homeland Security!
    3-Reduces document fraud!
    4-Protects our unemployed by giving back at least 5-6 Million jobs that are in the hands of illegals, at an average cost of 1 Billion dollars per state!!
    5-Reduces the costs that states incur having to deal with illegals and their dependents!
    6-Protects our sovereignty by stimulating jobs and growth which prevents our nation from having to borrow more money!
    7-It's free, easy and fast to use, workers cannot be fired while they correct errors, if they choose to challenge a rejection!
    8-Reduces the cost to states and employers paying unemployment benefits and greatly reduces the need for additional funding (with or without strings attached) because a large portion can return to work!
    9-Brings in more payroll and tax revenue because of the increase in salaries!
    10-Prevents home foreclosures for many who will be back to work! Homelessness is a reality for many of those who lost their job!
    11-Creates fair competition for businesses that play by the rules, so they can grow, hire more employees and offer insurance!
    12-Reduces the cost to hospitals having to treat illegals, which have to pass that cost onto the rest of us whether we have insurance or not, and businesses that provide health insurance also pass that onto us as well as state and federal governments that purchase their goods and services. These costs affect everything we buy, including groceries and health insurance. We get hit on multiple levels!
    13-Costs businesses less than .50 cent per employee to verify their status because they are already suppose to have completed I-9's and supporting documents on file.

    Don't accept excuses!!

    Our economy and citizens, including legal immigrants, deserve the protections and jobs that come from mandating E-Verify for all jobs. For more info or feedback, call Mary Steele at 757-887-6629 or 866-887-6629

    Reply to: Blackout Blues: NFL not immune to recession   15 years 2 months ago
  • when supposedly the Obama administration was going to "help students". ~24k in debt off the bat with just this year a 4.7% decrease in overall U.S. wages/salaries.

    I wonder about the availability of scholarships.

    I saw another pretty damning statistic with some grad students attempting to negotiate standard of living.

    58% of TAs were making about $7k/yr and supposed to live on that.

    That's another real problem...for Americans at least, if you are lucky enough to obtain funding for graduate school, that funding is simply not enough to even rent a cardboard box...
    so, awesome, you got this great research associate position or whatever it is....only to discover you cannot afford to go anyway.

    When I went to school, I had the lucky break to literally work my way through, often over breaks, working in my field of study (i.e. wages high enough to carry me along).

    That too appears to be dead. That corporations are not offering internships, fellowships, co-ops and so on which one can do to pay for college.

    What a complete waste, a refusal to invest in the U.S. future, the U.S. citizenry.

    Reply to: Student Debt up 25% from a year ago, while 33% of workers below age 35 live with parents   15 years 2 months ago
    EPer:
  • That is where we are heading. The student loan situation is sad. I would argue that it creates labor inefficiencies because it almost forces college graduates to search for "higher" paying jobs and may overlook more socially useful professions.

    RebelCapitalist.com - Financial Information for the Rest of Us.

    Reply to: Student Debt up 25% from a year ago, while 33% of workers below age 35 live with parents   15 years 2 months ago
  • Post removed for being merely personal experience.

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    Maximum jobs, not maximum profits.

    Reply to: Trying to reinflate the housing bubble with taxpayer dollars   15 years 2 months ago
    EPer:
  • So when do the tangibles that back up this wealth actually get produced? Or is it just another con job like the credit market, the FED, and Reserve Banking, where they create money without backing it with any wealth whatsoever?

    In other words, who is stupid enough to buy orders from the Market Maker? I certainly wouldn't- snake oil salesmen, the lot of them, creating a market just because they have no talent at producing tangible wealth.

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    Maximum jobs, not maximum profits.

    Reply to: A Wall Street Transaction Tax   15 years 2 months ago
    EPer:
  • In the two years since the crisis began, neither the Fed nor policymakers at the Treasury have taken steps to remove toxic assets from banks balance sheets. The main arteries for credit still remain clogged despite the fact that the Bernanke has added nearly $900 billion in excess reserves to the banking system. Consumers continue to reduce their borrowing despite historically low interest rates and the banks are still hoarding capital to pay off losses from non performing loans and bad assets. Changes in the Financial Accounting Standards Board (FASB) rules for mark-to-market accounting of assets have made it easier for underwater banks to hide their red ink, but, eventually, the losses have to be reported. The wave of banks failures is just now beginning to accelerate. It should persist into 2011. The system is gravely under-capitalized and at risk.

    It's really true and why I keep posting what is going on with regulation and Congress.

    The minute that spotlight is off, well, they are counting on the American people having a 10 minute attention span, which frankly, they do and the MSM doesn't help anything but continually reporting on "polls" and "political maneuvering" instead of what is specifically in each bill before Congress, each proposal and what that implies
    (and is a very good reason for us to exist!)

    There is nothing more that pisses me off than to watch the financial oligarchy use this situation to keep on doing what they were doing, even making it worse, getting stronger, now on the taxpayer dime, and use taxpayer funds to block regulation and reform.

    @*)$@!

    Also, when you see a great, in depth article, with recent analysis, etc. (vs. just kind of fluff opinion), you can put it in an Instapopulist with a few critical or teaser quotes too to get our attention to it.

    There is a major war going on for any regulatory reform and we do have some good warriors in Congress...although the Senate...God, does the Senate need a good flush! They block EVERYTHING substantive it seems!

    Anyway, a spot light on the specifics and why those specifics are important, opening it up to discussion on the ramifications of proposals, including negatives....
    helps refocus that spotlight on reforms...

    Reply to: It's All About Privatizing Gains and Socializing Losses   15 years 2 months ago
    EPer:
  • " I will trade, but I will not open up a factory because the risk in trading is waaaaay less than opening up a factory, trust me!"

    If you open a factory, produce goods, and refuse to sell those goods other than at a profit, you still have the material wealth of the goods. Even outdated goods have value on the collector's market eventually.

    If you buy shares, and refuse to sell those shares other than at a profit, and the share price goes to 0 all you have is useless paper.

    In what way is the risk of trading less than the risk of manufacturing? Under trading, you could potentially lose everything, under manufacturing (assuming you did so without turning to credit and investors, which is just trading once again) you have the produce you manufactured.

    Or are you too going to claim Adam Smith was an idiot?
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    Maximum jobs, not maximum profits.

    Reply to: A Wall Street Transaction Tax   15 years 2 months ago
    EPer:

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