Comments for The Baseline Scenario

Comment on Facebook and Mark Zuckerberg by tmoore

tmoore — Sun, 26 Feb 2012 00:40:23 +0000

You may be biased on this point, James. :-)

Comment on Party of Higher Debts by Annie

Annie — Sat, 25 Feb 2012 23:52:20 +0000

Zhang, “….May I offer the following theory to entertain the readers: The rich (and some misguided middle class people) are only concerned about the debt because they are convinced that the debt will be paid with their future higher taxes. Even after factoring in inevitable future tax increases, the benefit of lowering taxes now will still be a good deal, as taxes can only be raised gradually…”

Glad you find being wiped clean by global liars, thieves and murderes through *tax policy* to be entertainment….ahahaha, yup, we’re still the best at it….stupid americans….

Getting rid of Glass Steagall – in a fiat fractional reserve banking system – basically got rid of the *belief* that once you pay for it, you own it. Now you basically will never own anything..like the people who put down 20% or more for a house – chased out without even a 20% ownership stake, not to mention the % of monthly payments….so funny I can hardly stop laughing….

So who OWNS the *debt*….? Looks like nobody, eh?

Comment on Why Won’t The Federal Reserve Board Talk To Financial Reform Advocates? by Ben Wolf

Ben Wolf — Sat, 25 Feb 2012 23:27:56 +0000

It’s unfortunate so many commenting here have conceptions of economics which are totally infected by political rhetoric. It is utterly absurd to argue that capital requirements for banks are unfair, particularly when those same banks leverage government money to earn their profits.

Comment on Why Won’t The Federal Reserve Board Talk To Financial Reform Advocates? by Bayard Waterbury

Bayard Waterbury — Sat, 25 Feb 2012 23:00:25 +0000

I love this bloc, Simon and James. I love the folks who comment on the posts. We, along with a vast minority in this nation (and, I assume elsewhere in some cases) are a very few who actually make an attempt to comprehend the level of charade performed by so many of this world’s elitists intended (and very successful, tragically) to distract the majority of those who would, if they knew the truth, revolt massively at the level of fraud being propounded as governmental policy across the globe by the wealthiest global citizens to rob from and destroy all others of the world citizenry. We get it. We talk about it. We try to swim upstream against an immense current of political influence. This extends from the ECB to the FED, to dynasts like Assad and Putin. It is blatant. It is massively destructive to all civilized society. It is completely out of control. This article about the Bernanke FED is wonderful in that it points out the level of influence wielded by the largest banks. When Obama reappointed Bernanke in the wake of the Summers and Geithner appointments, it quite simply proved that both major parties are captives of the wealthiest interests. Without some kind of revolution, we are lost. That has become clear. The ever sensible Vollker Rule will be softened to the point of absurdity. The banks will get their way. Oh, there will be a few “bones” thrown our way, but even those won’t be enforced.

Comment on Party of Higher Debts by Bayard Waterbury

Bayard Waterbury — Sat, 25 Feb 2012 22:39:32 +0000

Oh, and one more thing. These kinds of rhetoric and policy proposals seem highly likely to completely turn off the budgetarily conservative Tea Partiers. After all, the Tea Party and OWS have been coming much closer over the past several months.

Comment on Party of Higher Debts by Bayard Waterbury

Bayard Waterbury — Sat, 25 Feb 2012 22:37:09 +0000

This does more than confirm that the Republican Party is not just the party of the 1%, but is completely out of touch with reality. Talk about being unable to look at making tough choices which could have a positive effect on the country’s future, these guys are living in a pure fantasy world of cut taxes and destroy the American Public as their prime goals. It is hard to imagine that any but the most rabid Republican nihilist minority could imagine voting for any of them. Sadly, the one who emerges from the primary season with the nomination is likely going to attempt to back off these massively absurd positions in order to attract any voters from the moderate right to the middle in order to have a chance at victory in November. Unfortunately for them, they not only have spoken extreme language, but published proposals which are likely to encourage massive activism amongst the independents and moderates. Progressives and Left Wingers need no such encouragement, but will be running massive advertising to talk about what these views on taxation would wreak if passed, somehow, into law and policy. From my perspective, it’s game over. Now!!!

Comment on Why Won’t The Federal Reserve Board Talk To Financial Reform Advocates? by Bruce E. Woych

Bruce E. Woych — Sat, 25 Feb 2012 21:14:21 +0000

Bill Black: Is Obama Getting Serious About Bank Fraud?
FEBRUARY 18, 2012
full transcript @ The Real News Network:
http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=7926
Bill Black: Are Pres. Obama’s new measures effective or window dressing?

Comment on Why Won’t The Federal Reserve Board Talk To Financial Reform Advocates? by Bruce E. Woych

Bruce E. Woych — Sat, 25 Feb 2012 21:06:36 +0000

at: TRUST YOUR INSTINCTS (BLOG)
Posted by Richard at 9:58 AM
Labels: Policy Failure, Swedish model
http://www.tyillc.blogspot.com/2012/02/iceland-shows-that-forcing-banks-to.html
Monday, February 20, 2012
Iceland shows that forcing banks to take losses works to end financial crisis
… the Japan model and the Swedish model for handling a financial crisis.
Under the Japan model, governments do everything they can to protect the meaningless bank book capital values. This includes allowing the banks to recognize losses as banks generate earnings to absorb the losses, shielding the banks from market discipline by providing an implied guarantee when regulators proclaim that stress tests show the banks are solvent, and adopting zero interest rate policies.

The Japan model puts the interest of the banks ahead of the interests of society.

Under the Swedish model, governments require the banks to recognize the losses on the excesses in the financial system today. Banks then rebuild their book capital through future retained earnings and equity issuance.

The Swedish model puts the interests of society ahead of the interests of the banks.

Today, I would like to focus on two interesting data points. First, Japan has been following the Japan model for 2+ decades since its credit bubble burst with no end in sight. Second, Iceland has been following the Swedish model for 3 years since its credit bubble burst, the financial crisis is effectively over and it has returned to investment grade.”
http://www.tyillc.blogspot.com/2012/02/iceland-shows-that-forcing-banks-to.html

Comment on Party of Higher Debts by K Zhang

K Zhang — Sat, 25 Feb 2012 20:40:25 +0000

May I offer the following theory to entertain the readers: The rich (and some misguided middle class people) are only concerned about the debt because they are convinced that the debt will be paid with their future higher taxes. Even after factoring in inevitable future tax increases, the benefit of lowering taxes now will still be a good deal, as taxes can only be raised gradually.

Comment on Facebook’s Targeted Advertising by Mel

Mel — Sat, 25 Feb 2012 19:11:45 +0000

Why should it be about you. These are the advertisers who are paying Facebook the most to get at your eyes. They’re the advertisers who want you the *most*. Is it a surprise, then, that they want you more than you want them?

Comment on Why Won’t The Federal Reserve Board Talk To Financial Reform Advocates? by Bruce E. Woych

Bruce E. Woych — Sat, 25 Feb 2012 19:06:46 +0000

@michaelD: Thanks so much for that feedback, I just came across this other one that is quite unique and worth a serious viewing:

Aftermath of a crisis
(Bregtje van der Haak, VPRO Backlight 2011)
======================================
reference waw directed from
http://richardbrenneman.wordpress.com/2012/02/25/must-watch-video-aftermath-of-a-crisis/#more-19226

Comment on Party of Higher Debts by Annie

Annie — Sat, 25 Feb 2012 16:12:04 +0000

@Tom Crowl, “….I support a well managed fiat money system… but why use it to destroy the middle class with debt so as to build a bloated financial sector?…..”

That is the trillion $$$$ question, isn’t it?

I suspect there won’t be a rational, much less practical, explanation…bottom line, though, is there’s no point in *saving* any currency that got so corrupted or leave the people in charge of the flow of life-maintenance currency that sneaked in this crap on the 99% by playing a completely different game while using the manipulative phrases of *altruism*…

It’s not confortable or rational or useful to pretend that *iniquity* doesn’t pay better than *altruism*…

Comment on Party of Higher Debts by Sarah Tenney

Sarah Tenney — Sat, 25 Feb 2012 15:19:32 +0000

Re: Ron Paul

I would appreciate further clarification on Ron Paul’s budget proposals. Your original blog post seems contradictory. It opens with the statement that the budget plans of all four of the remaining contenders in the Republican primary would increase the deficit. Further down, it states that Ron Paul’s proposals would lower it. Which is it?

Clearly Ron Paul is the “candidate for change” in this election. I would appreciate more analysis on whether his proposals – “crazy” or not – could be change for the better from an economic point of view.

Comment on Why Won’t The Federal Reserve Board Talk To Financial Reform Advocates? by michaelD

michaelD — Sat, 25 Feb 2012 15:00:20 +0000

@bruce e. woych … so much as i enjoy following simon’s work, i think that video was actually more useful than the original post. thanx

Comment on Party of Higher Debts by owen owens

owen owens — Sat, 25 Feb 2012 12:33:06 +0000

This is a madman at work, can’t you just see Paulson on his knees, begging congress in 08, please pass this bill!, please don’t make me beat your head in. In the press we make it seem as if he was docile with the congress, it was Extortion of the highest order in the crib of what is congress and the free world today.

http://theneedtopublishphotos.blogspot.com/2012/02/madman-at-work.html