Recent comments

  • So what exactly is wrong with giving TAships to foreign nationals? Are they somehow less qualified? This seems like a rather harsh accusation without being able to show that those people were in any way less qualified. You began by saying higher ed was not a meritocracy and then singled people out based on their state of residence and country of nationality. Please explain the logic here?

    Reply to: Corruption in Higher Education   15 years 4 months ago
    EPer:
  • your lycos email address is bouncing. No way to get a hold of you!

    Reply to: 13 States Now Have 10% Unemployment   15 years 4 months ago
    EPer:
  • I had an image where we had a genocide, a witch hunt, the Spanish inquisition, regarding any accuracy on the true state of these conglomerates financial health.

    Good question through, with trillions in financial commitments, taxpayer funds, is it still possible that the Zombies will not have their fill and actually we will have a later Enron implosion anyway?

    Reply to: More Off-Balance Sheet Troubles   15 years 4 months ago
    EPer:
  • Sorry, but do you really think that the zombie banks will be forced to reveal the depths of their off-balance sheet problems? Remember mark-to-market accounting rules? Gone. We now have mark-to-fantasy. Wall Street banks have already started their efforts to shut down the rule requiring them to bring SIVs and the like onto their balance sheets. Their target is the same FASB that knuckled under on the M2M rules. Since it's a biological impossibility in the human species (and probably all vertebrates) to regenerate an entire new spine once it's been removed, I expect a similar outcome. Off-balance sheet vehicles will stay off the balance sheets until the weight of all that garbage forces an Enron-like collapse.

    Reply to: More Off-Balance Sheet Troubles   15 years 4 months ago
    EPer:
  • already know a lot of this but it's good it's getting picked up on by the political blogs.

    The scribd is really hard to read, you might just down load the actual pdf and upload it here as an attachment.

    Then, you might pull out some relevant quotes from the article, along with other evidence and put it in an actual post.

    then, the difference between a blog and an Instapopulist is actual RSS stuff. While Instapopulists do go out, because they are for sort "check this out" type of stuff and blog posts are supposed to be much more detailed, original thought, much longer, the blog posts are more heavily weighted and thus get more readers.

    Then, it seems like our discussion is kind of low lately, so we need more people to start chatting....so if you see a big econ person, might invite them over.

    I do appreciate that cap & trade. I haven' been tracking at all but asked others to research, write it up because it did have a major stink to turn "yet another market" from environmental concerns.

    Reply to: Rolling Stones' Matt Taibbi   15 years 4 months ago
    EPer:
  • in the upper right hand corner for full screen.

    Or click on the link for the scribd site - where you can zoom, too.

    It's a great read!

    Reply to: Rolling Stones' Matt Taibbi   15 years 4 months ago
  • I thought the econ-enlightened  would love it. In any case, just to share a few thoughts around the net on the article :

     

     Taibbi sorts through the history of Goldman and its “engineering” of this country’s financial bubbles - from the Great Depression to the Tech Bust:

    It was as if banks like Goldman were wrapping ribbons around watermelons, tossing them out 50-story windows and opening the phones for bids. In this game you were a winner only if you took your money out before the melon hit the pavement.

    From the Housing Crash to the Oil Spike to the Great Bailout to…

    Well, I won’t spoil the ending. But Taibbi says Goldman is about to do it again. 

    PRI: Marketplace ScratchPad

     Rubin was the prototypical Goldman banker. He was probably born in a $4,000 suit, he had a face that seemed permanently frozen just short of an apology for being so much smarter than you, and he exuded a Spock-like, emotion-neutral exterior; the only human feeling you could imagine him experiencing was a nighmare about being forced to fly coach.

    Taibbi makes the case that it’s not just wheat futures which have been overrun by index speculation, but commodities in general and oil in particular. Indeed, Taibbi puts Goldman, Zelig-like, at the center of no fewer than four speculative bubbles: one in the 1920s in which Goldman-controlled entities ended up losing an astonishing $475 billion in today’s dollars; the tech bubble; the housing bubble; and the oil-price bubble ending in 2008. He calls the US “a gangster state, running on gangster economics”, and is very explicit about exactly who he thinks the gangsters are. (Clue: they paid just $14 million in tax on $2 billion in 2008 profits.)

     

    Felix Salmon: Reuters

    I’m starting to run out of room here. But if you’re interested in these issues and learning more about Goldman Sach’s involvement in our Federal Government, I STRONGLY urge you to read Matt Taibbi’s recent expose on the firm in Rolling Stone magazine. Be forewarned, you will be infuriated by what Taibbi reveals. But if it gets people contacting their local representatives and Senators asking why we haven’t launched any investigations into Paulson’s allocation of public funds.
    Seeking Alpha: The Fourth Branch of the US Government

     Click on the full screen icon for easier reading - or if you don't like Scribd, the issue of RS just came out.

    This article is better than Taibbi's "the Big Takeover"

    Reply to: Rolling Stones' Matt Taibbi   15 years 4 months ago
  • or at least, good for reading small print on computer monitors, and that's IMPOSSIBLE even for me.
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    Maximum jobs, not maximum profits.

    Reply to: Rolling Stones' Matt Taibbi   15 years 4 months ago
    EPer:
  • I find scrbd to add yet another layer of irritation to viewing online documents.

    I don't know about you but it puts the pdf in a window which makes it harder to read and to download from scribd they want you to logon.

    EP has a file attachment feature, so you can upload pdfs directly to EP as well as link to the resulting document.

    Someone tell me the advantages to scribd over just uploading pdfs and using existing pdf plug ins on web browsers.

    Reply to: On Posts   15 years 4 months ago
    EPer:
  • of the specifics? This one needs a slide presentation, graphs on how it operates. How confusing! But "hiding the scam" is always confusing.

    This is the first I've read about this too, so exposing more of the details would be dynamite!

    Reply to: More Off-Balance Sheet Troubles   15 years 4 months ago
    EPer:
  • led to their own demise. Study Shows TARP Recipients Lobbied for the Global Financial Meltdown.

    Sure, they don't get that raising interest rates on credit card balances is probably going to led to a charge off. It's just unbelievable, if they could get Congress to enable them to run out and break legs, like the old loan sharking days, I am sure they would.

    I've got a blog post research project for you: What happens when corporate lobbyists get their way? I think the list is a mile long on bad bills, bad legislation, horrific consequences, even for the companies who demanded such laws....is a mile long.

    Reply to: Financial Oligarchy "Lobbies" Up   15 years 4 months ago
    EPer:
  • Both China & India were left out of the World bank dire global economic forecasts.

    Reply to: China to Fed: No more Treasuries we want land??   15 years 4 months ago
    EPer:
  • All of the Survivalist boards have been posting this information for the last 5 years, as China bought up large portions of Africa and the Middle East.

    And the moral lesson was always the same- China is right, tangibles rule, if you don't have tangibles then all the FRNs in the world aren't going to help you when the crash comes.
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    Maximum jobs, not maximum profits.

    Reply to: China to Fed: No more Treasuries we want land??   15 years 4 months ago
    EPer:
  • Financial sector has grown too big and powerful which is not good for our economy. The financial sector should be intermediaries and not the driver of the economy. The financial sector needs to be tamed and knocked down several notches. Here is a perfect example: the one aspect of the Obama Administration proposal that I agree with - the consumer protection agency is already under attack by banks.

    Why? Because they need to protect the huge fees that they generate from sticking it to customers.

    Fees imposed by banks accounted for 53 percent of industry income in 2008, up from 35 percent in 1995, according to R.K. Hammer Investment Bankers, a credit-card advisory firm. JPMorgan Chase & Co., the second-largest U.S. bank by assets, said such revenue doubled in the first quarter. A U.S. Consumer Financial Protection Agency also may add costs by expanding scrutiny.

    Reply to: Financial Oligarchy "Lobbies" Up   15 years 4 months ago
  • Reply to: Regulation Power - Where are the Checks and Balances?   15 years 4 months ago
    EPer:
  • China owned Sinopec bought Addax Oil Company. According to FT, Addax is a long established player in Iraqi Kurdistan.

    OECD forecast China's GDP growth: +7.7%. The financial power balance has definitely shifted in favor of China.

    Reply to: China to Fed: No more Treasuries we want land??   15 years 4 months ago
  • of their economic teams, many have engineering education as well. But I think while their population is an obvious drain, they are playing the cheap labor market until they reduce their population with draconian methods. But they have the resources, minerals, land, building up technical expertise (adept at stealing it we should add), but most importantly massive strategic planning on their economy.

    So while they do China, we get crap about Buy America and China responds with Buying America...literally, awesome!

    Reply to: China to Fed: No more Treasuries we want land??   15 years 4 months ago
    EPer:
  • I had some disgruntled reader want to see the publication date of blog posts and I had to agree, that drives me nuts when you are reading old information.

    So now you see the date, time as well as the author's profile on each blog post. Should help direct contacts to each person's own blog more too instead of the site wide administration contact.

    Any problems, leave a comment.

    Reply to: On Posts   15 years 4 months ago
    EPer:
  • If it's something that just isn't adding up and the user wants to delete it because it isn't up to snuff or whatever, that's one thing but to just go and delete all of their posts, which have been published for a long time....because they got all huffy on some issue or some whatever...

    that's just juvenile.

    Reply to: On Posts   15 years 4 months ago
    EPer:
  • Even though the only blog I ever deleted was because I couldn't get the numbers to match my theory :-) And I believe I deleted it while it was still marked private.

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    Maximum jobs, not maximum profits.

    Reply to: On Posts   15 years 4 months ago
    EPer:

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