By James Kwak
I contributed a chapter to Is U.S. Government Debt Different?, a book published by the Financial Institutions Center of Wharton. It includes chapters by many people more distinguished than I, such as William Bratton, Peter Fisher, James Hines, Howell Jackson, Deborah Lucas, Steven Schwarcz, Richard Sylla, and others. You can download the whole thing for free at the link above. Enjoy.
The Baseline Scenario 
As a slacker/Scrooge who pretty much treasures his “freebies” more than any man who has ever existed on planet Earth (with the possible exception of my deceased father), I say Thank You.
It is appreciated.
Ahh yes, they read all the books, but they still can’t find the answers. (:>/
Thank You for the book
Reblogged this on Underwriting Solutions LLC and commented:
FREE BOOK (depressing topic but FREE).
So many things are free, you just have to find them.
Don’t click that link, its this one.
This is a great and valuable book and it comes for free.
Father: “Son, do you know what the most beautiful word in the English language is??”
Prepubescent dolthead son: (long pause for brain gauges spinning uselessly) “No….. what is it??”
Father: “Freeeeeeee…….”
FREE things “rock a my soul”.
Somewhere, someone is covering the cost of this “free” book. Is that someone an altruistic do-gooder, a lover of knowledge who simply wants to enlighten the masses, I think not. I smell an alterior motive, or maybe it’s the smell of fecal matter eminating from Kwak’s posts.
Some Jehovah’s Witnesses came to my house today. They were giving away free books, but they wanted my soul in return. Maybe Kwak should try schleping his free stuff door to door, you know, really show us he’s down for the cause of spreading misinformation.
For free information dedicated to countering misinformation, go to http://www.standupforyourrights.me
The good words and books are free and widely available, you just have to locate them or have someone show you the way. Ulterior motives don’t need to give themselves away, they come willingly to your room weather you are conscious they are there or not. I am not prepared to share with you now, but eventually I will should you stick around long enough to receive it. Do you have it out for James?, Or do you just like to combat various blogs you haphazardly come across??
how do I download this to my ereader?
Javamann
I am what used to be called a ‘lurker’. It is an entertainment. Every now and then a jewel shows up. Thank you Mr. Kwak.
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Business Development & Solutions problems
It really kills me how if I say something that badly needs to be said, but say it in a somewhat vulgar way, I get busted and the comment is filtered and/or deleted. But the advertising spam BaselineScenario gets at least two per post advertising cr*ap stays on the blog to perpetuity.
Never mind that the foundational point of my comment was substantive, we don’t want to offend little 10 year old Johnny’s Mom because she hasn’t figured out Johnny learned all those words on his grade school restroom wall 3 years ago.
As far as I can tell, the dialogue gets “dumbed down” not by the occasional vulgarity, but by what is removed or excluded from the conversation (ex: Rupert Murdoch’s FOX network).
http://video.pbs.org/video/2215966370/
I made a relatively long comment a few weeks ago about how HP was selling computers and software that was being used to slaughter Syrian citizens. I had read that from a story by Vernon Silver of Bloomberg.
http://www.bloomberg.com/news/2011-11-18/hewlett-packard-computers-underpin-syria-electonic-surveillance-project.html
My comment was questioning why HP’s current CEO had done nothing to rectify the situation months AFTER taking the job. Seeing how HP has handled the Autonomy situation (See link below), those comments might have been seen as prescient in more ways than one. But, really, why bother with such comments when you can create more blog space for spam??
They must know where you’re coming from Moses. Just remind them that it’s not 2014 yet, and they still have time to receive justice. Although the results will be the same.
Speaking of gov’t debt, I browsed Simon’s post titled “One Man Against the Wall Street Lobby”. Simon said William B. Harrison Jr., former Chairman of J.P. Morgan, “denies that large banks receive any implicit government subsidies”. Moody’s and Harrison need a conference call to get their stories straight because the ratings agency says BoA’s debt is rated 5 notches above what it would be without gov’t support.
http://www.c-spanvideo.org/clip/3344569
For all intents and purposes, Too Big To Fail banks are GSE’s, just like Fannie and Freddie before they collapsed. How did that work out for taxpayers?
http://www.zerohedge.com/article/obamas-budget-has-one-small-missing-piece-63-trillion-dollars
http://www.reuters.com/article/2010/01/05/us-usa-housing-bailout-idUSTRE6044YU20100105
U.S. sovereign debt has been, and will be downgraded because gov’t is backstopping large banks which use Enron like “creative accounting” to post fraudulent capital reserves.
http://www.marketwatch.com/story/fasb-approves-more-mark-market-flexibility
http://www.standupforyourrights.me
Not a word in the book about the fact that since banks need to hold much more capital when lending to “The Risky” citizens than when lending to “The Infallible” sovereign this translates into a huge subsidy to the sovereigns paid by scarcer and more expensive access to bank credit by small businesses and entrepreneurs. Seems like this poses no problem for the authors.
http://subprimeregulations.blogspot.com/2012/07/complaint-i-presented-to-consumer.html