Recent comments

  • years was not real "conservatism," that is adherence to sound fiscal and monetary policy, non-interventionist foreign policy, and strict constitutionalism. Reagan, for all the talk about him being a conservative, expanded the budget and poked his nose all over the world. When he finished his term, the national debt went from about 40% of the GDP to about 70%. Both he and Papa Bush continued the habit of establishing budget deficits. Reagan was basically a conservative in name only, with solely his slashing of the past high tax rates as his standard bearer of his ideology.

    Clinton, well I'll give him credit for paying off some of the debt. We even had a budget surplus here or there. But a lot of his effort in this was buoyed by a bubble in the stock market and the fact that he (along with his predacessors) borrowed from the Social Security trust fund. I am only bringing up Clinton because a lot on the left have referred to him as the closest thing to the Democrats as a "fiscal conservative."

    As for 'W', honestly, do I have to bring up his irresponsibility? He's labeled a conservative more for social stances and foreign policy, though as I've stated, the classic variety of American Conservatism doesn't jive with Neo-Conservatism. Indeed, if anything, Bush is like some sort of hybrid fiscal juvenile/conservative mutant.

    It all comes down to this:

    1) Don't leave a debt or one that cannot be payed back in a generation.

    2) Don't get entangled in foreign situations where it would bleed the purse or our liberties.

    3) Don't spend more than you bring in.

    4) Respect property rights.

    5) Respect those inalienable rights of Man.

    6) Follow the U.S. Constitution. and respect the separation of powers between the Federal government and the States.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
    EPer:
  • It's amazing the kind of nonsense you hear about China these days.

    Same kind of nonsense you used to hear about Japan.

    And then...whole lotta nothing. China is facing increasingly massive labor unrest. It'll either boil over and destroy the system or more likely force some basic justice and slow down the export-economy Leviathan.

    Flash in the pan.

    Reply to: Friday Movie Night - Slave Economics Edition   15 years 6 months ago
    EPer:
  • Honestly, we've gone from a privately-held zombie to a semi-nationalized created zombie! Do it right, or separate the operating mortgages into a new firm and kill off these bastards. Like a previous poster said, either do it the Swedish way or start thinking of doing it the Austrian School of Economics way!

    And I know this will sound harsh, but some people need to be foreclosed on. We have to be realistic here. Help those financially who truly have a chance of making the payments when things improve. As for those who just want the house/condo but know damn well they could never afford it, time to get a local agency to assist in finding them a rental unit and temporary help with the rent. What we have now is the equivalent of poking a festering boil without treating it; eventually nothing good will come of it.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
    EPer:
  • Was it right after you read what you wrote? ;o)

    Come on NDD, I've been reading you over at the KOS for awhile and you know better than that.

    YES! Losing a job is always negative. The early 80's and 90's were recessions and losing a lot greater than 100K. But .......when you are losing them at a faster rate than being replaced even 400K is significant.

    It is when the unemployment occurs is the business cycle. In normal markets there is always a certain amount of frictional unemployment.
    In a recession, cyclical unemployment is VVB (very, very, bad). When you are adding 100K a month to the ranks of unemployed .... m-o-m .... would you call it "less bad?"

    It has always been about class warfare.

    Reply to: Unemployment and Recovery   15 years 6 months ago
  • I say that this rally will be over by summer.
    Timing isn't my strong suit. I get it right no more than 50% of the time. But I'm telling you right now not to trust this phony bear market rally. Don't go long in the stock market, and don't trust the bond market either.
    The system is broken, and a broken system cannot have a bull market. Or, as Jim Willie puts it:

    Financial market anchors and analysts debate whether the 30% stock rally qualifies as the new bull market, as nutty green shoots are identified. The supposed green shoots are nothing more than elaborate moss on exposed decaying roots of dead standing trees. These are sprawling sequoias with hollow trunks and decayed roots. Those sell-side optimists ignore that a 30% stock market rise after a 50% decline since October 2007 is a typical bear market correction. The green shoots cannot possibly be new attempts at legitimate growth when jobs are being destroyed on a massive scale, home foreclosures continue to rage, home values continue to decline closer to 20% than 10%, corporations are guiding lower on profits and investments, and the states are cratering financially. Besides, the S&P500 Price Earnings Ratios are at historic highs, not lows. Worse, the earnings are mostly fictions. Votes are being registered in the gold & silver markets, and in the USDollar and USTreasury Bond markets.

    Reply to: Unemployment and Recovery   15 years 6 months ago
    EPer:
  • Yes, conservatives were in fact in charge during the last 8 years. They just weren't the Ron Paul-type, nor the fictional Ronald Reagan-type (that never actually existed), nor the Barry Goldwater-type.
    Instead the conservatives that were in charge during the last 8 years were the Benito Mussolini-type.

    If you think the Big Brother actions of recent conservatives precludes them from being conservatives then I suggest you take the blinders off. All political philosophies have a dark side. Every single one of them.

    Liberals span the spectrum as well. From FDR to Huey Long to Ralph Nader to Bill Clinton to European socialists to pseudo-communists.
    Unfortunately we have another Bill Clinton in charge today.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
    EPer:
  • the pain of red tape.

    Reply to: Everything You Ever Wanted to Know about National Health Plans ….and maybe more - France   15 years 6 months ago
    EPer:
  • And I'd have to say anybody losing their job, in a time of rising duration of unemployment, is certainly in the Personally Screwed Index.

    I realize it's a lagging indicator- but if we do end up slipping into a wage-price deflationary spiral, then there is no reason for hope until wages stop deflating.
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    Executive compensation is inversely proportional to morality and ethics.

    Reply to: Unemployment and Recovery   15 years 6 months ago
    EPer:
  • Losing jobs is always a negative. That's why the Kennedy Admin came up with the Discouraged Workers theory to create U3 and cut back on the number of people in the workplace.

    Having said that- I can see us dropping to 400k jobs lost this month, 300k next month- but between July 1 and Labor Day, I expect us to lose another 1-1.5 million jobs from state budgets resetting alone. Oh, it'll only be 50,000 in one state, 150,000 in another, but it'll add up. A lot of people will be getting pink slips, quite a few more will find themselves with reduced hours. A lagging indicator, of course- recessions hitting government always lags by 6 months to 2 years depending on the state- but we'll see those jobs go poof.

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    Executive compensation is inversely proportional to morality and ethics.

    Reply to: Unemployment and Recovery   15 years 6 months ago
    EPer:
  • during the peaks of the 1980s and 1990s economies, was that a negative too?

    If we drop to 400k job losses this month, and 100k job losses by Labor Day, would you still call that a negative?

    Reply to: Unemployment and Recovery   15 years 6 months ago
  • What would you accept as the difference between a bear market rally and an end to the recession?

    For example, the S&P doubled from 2002 to 2007, but never surpassed its 2000 high in real terms. Was that a bear market rally or real?

    If we have positive prints for GDP in the 3rd and 4th quarter, but GDP is still below its 2007 high, is that a bear market rally or a weak recovery?

    BTW, on unemployment in the 1930s, it appears that a few sources have been able to put monthly numbers together, but I haven't found them publicly available. I once again ran across an article suggesting that the traditional 1930s unemployment rates we discuss are much closer to U3 than U6 FWIW.

    Reply to: Unemployment and Recovery   15 years 6 months ago
  • When i left Calif. 9 years ago i saw a morally corrupt state already 1 billion in the hole , it only cost me 700 dollars to leave that state and i was a life long resident born and raised there it only took me 2 seconds to leave California out of survival, im not surprised that in the 9 years since i left that the liberal cash spending fiends that are running and ruining California have managed to burn all their businesses and tax payer's to the point where they were leaving in the last 6 years so fast that the AFDC rolls looked like they growing when in fact it was that the ratio of people on assistance were catching up to the employed 1 in 9 are on it so who's paying for California's insane mismanagement well you are, all the working Californians whats left of them, did you know it costs 3,800 to move out of Calif right now but it only costs 600 to move to Calif, to me it says they need your money bad and the u-huals are in short supply' I know you probably think what a right winger i must be, but to tell you the truth im just a mom with 5 kids and conservative with my budget. no debt and i work for a living i never took any hand outs and never expected one either there is no free lunches in life if you want to have success and self esteem in the same sentence, as for the social services programs California has gone so far to the left of reality with all the illegal immigration excesses an excuses and people fully capable of working that get handouts, its why i left i saw this was going to hinder my own family's future i didn't want that free love liberal to excess passive attitude to all that's corrupt instilled into my future my children. good people of California you may soon consider the same leave before its too late and the corruption in this once golden state takes you too, with outrageous taxes, haters, hypocrites, political divisiveness, lack of personal responsibility & now recently the gays not even supporting their own tolerance mantra by bashing certain straight folks for a personal conviction when asked, im so glad i left this boiling cesspool of political agendas and selfish virtue less profiteers and im sure if any of this offends you, then you are glad i left too & there is no offense taken here, your thoughts are your own, i just never did belong in a place that suffers so much at the hands of a morally corrupt local,state & Fed gov, that allows left thinking groups to have all the concessions while gagging and blindfolding others who are asked to pay for it all the while being called the hypocrites for asking a simple question like why do i have to pay for those who don't do anything but whine where is the money going, who are they kidding. its a case of the state embezzling its corporate funds and not being held accountable to the people who pay them the TAX PAYER but then i have never seen any politician held to the standard they swore to live up to have you? if this were a regular corporation that by fed gov laws did what Calif gov has done to the state there would be heads rolling and indictments in the works, it no different than a savings an lone you lone they save and spend only what is needed in the budget, with a reasonable expectation of quality services and goods in return, hello look at your representatives if they open their mouths its a lie to cover up another lie.. i know its hard to hear but open your minds and your eyes there is so much more information out there that will bring clarity to you don't live in the Calif bubble just be open minded and look beyond the feel good words from this new fed administration running things, even the devil was a smooth talker wasn't he?

    Reply to: California is officially flat broke   15 years 6 months ago
    EPer:
  • By the end of the year, EVEN WITH THE STIMULUS MONEY.
    If Obama fails to the extent above, there will be plenty of people with a lot more time on their hands by the end of his only term.
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    Executive compensation is inversely proportional to morality and ethics.

    Reply to: Unemployment and Recovery   15 years 6 months ago
    EPer:
  • the ones you see on FAUX news who manipulate populist sentiment in order to continue the corporate agenda...

    and the real ones who probably would be represented by people like Ron Paul, etc.

    I'm talking about the real ones, not the corporate wolves.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
    EPer:
  • If you think fiscal conservatives were in power for the last eight years, you're the one who must have been sleeping.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
    EPer:
  • They are all about smaller government, no intervention...
    .

    Were you sleeping the last eight years? They are all about the complete opposite of what they yammer about. The only difference is they scream louder than everybody else.

    They created the largest government agency in our history, trampled the Constitution, peoples civil rights and are into everybodies business. In fact the only freakin thing they didn't "intervene" on was Wall Street corruption.

    It has always been about class warfare.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
  • been better suited to be a glorified hedge fund. They could have been purchasing distressed mortgages for pennies on the dollar and then truly modifying the loans - all the terms in order to keep people in their homes. But no they rather do this half-ass.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
  • While it would be healthy for America

    The tree of liberty must be refreshed from
    time to time with the blood of patriots and tyrants.
    ~Thomas Jefferson

    I think you need to see a lot more people with a lot more time on their hands.

    It has always been about class warfare.

    Reply to: Unemployment and Recovery   15 years 6 months ago
  • This is not nationalization. In fact Fannie is still a publicly traded company which opens up a bunch of other problems (ie. shareholder lawsuits).

    Treasury and Fed are using Fannie/Freddie to reinflate the bubble. But I think they are losing control of the situation as these losses are indicating. At some point, they have to realize that more liquidity is not the answer.

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
  • They are all about smaller government, no intervention...

    but I see it as we have corporate run, stupid government...

    So, who can blame them with their 'free' market, small government, low tax mantra when this is the performance of governments that are corrupt as hell with corporate agendas.

    Maybe we should retire the term nationalization for this is not even close to what Sweden did.

    This is like having BoA and Citigroup CEO mentality but now part of the government (officially).

    Reply to: Fannie Mae losing money hand over fist   15 years 6 months ago
    EPer:

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