tag:blogger.com,1999:blog-6616959642391988608.post704375308788422873..comments2024-03-18T13:22:06.536-07:00Comments on Calafia Beach Pundit: Federal budget outlook continues to improveScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger24125tag:blogger.com,1999:blog-6616959642391988608.post-68711857250257153072013-02-27T22:17:52.075-08:002013-02-27T22:17:52.075-08:00The banks as structured today are a creation of th...The banks as structured today are a creation of the government. JPM Chase creates a phony security which is called a synthetic security.<br /><a href="http://www.easytitleloansutah.com" rel="nofollow">Car Title Loans utah</a>Title Loans Utahhttps://www.blogger.com/profile/07081555951443582154noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-71843764195665789142012-10-01T06:07:48.709-07:002012-10-01T06:07:48.709-07:00I agree with Mike, great post! AHMSI rip offI agree with Mike, great post! <a href="http://www.linkedin.com/company/american-home-mortgage-servicing" rel="nofollow">AHMSI rip off</a><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-40373603260461584722012-08-27T08:19:23.623-07:002012-08-27T08:19:23.623-07:00Great post, thank you for sharing with us! AHMSI r...Great post, thank you for sharing with us! <a href="http://www.ripsoffofahmsi.com/" rel="nofollow">AHMSI rip off</a> Kate Dunkinhttps://www.blogger.com/profile/13662900147365599971noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-88039370684427721622012-05-15T10:12:32.762-07:002012-05-15T10:12:32.762-07:00Dr. William:
If CA quit the union, they would net...Dr. William:<br /><br />If CA quit the union, they would net back $50 billion a year.<br /><br />It is the rural states that are pink-o subsidy havens.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-69810890129176860142012-05-13T19:52:34.558-07:002012-05-13T19:52:34.558-07:00While the Federal budget outlook may be improving,...While the Federal budget outlook may be improving, the budget outlook for states such as California are grim at best -- the entirety of US fiscal and monetary policy has been committed to saving Federalism since 2008 -- however, Main Street remains in dark times as evidenced by the presistent declines in real working wages, home values, and the employment to population ratio -- all eyes should beMcKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-48646051786829603782012-05-13T07:24:00.953-07:002012-05-13T07:24:00.953-07:00I think I'm coming around to Scott's posit...I think I'm coming around to Scott's position on Keynesian stimulus. But we need to be honest about what constitutes Keynesian stimuli.<br /><br />The Iraq War, the Bush tax cuts ( which did not proportionately cut spening) and the unfunded Medicare Part D program were all massive Keynesian stimuli.<br /><br />Those fiscally irresponsible events occured when a Republican occupied the Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33019703770942581102012-05-12T12:08:52.234-07:002012-05-12T12:08:52.234-07:00Hans and anyone else:
Scott Grannis says there is...Hans and anyone else:<br /><br />Scott Grannis says there is about $10 trillion in federal debit outstanding (excludes interagency debt).<br /><br />In last few years, the Fed bought about $2.7 trillion in debt (I think most federal IOUs).<br /><br />We have been monetizing the debt. Yet no inflation. Debasing the currency<br /><br />What gives.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33792592513125560912012-05-12T08:10:13.484-07:002012-05-12T08:10:13.484-07:00Squire, thank you for the link...
I agree and hav...Squire, thank you for the link...<br /><br />I agree and have been suggesting this for the past 18 months, for better or worse..<br /><br />FedZero, is destroying all incentives to save money...In fact, thanks to Greenspam and now Uncle Ben the past twelve years has produced seven years with marginal interest for savers..<br /><br />This is a killer for retirees, who depend on additional income..4katzzhttps://www.blogger.com/profile/12362478491988290924noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-7209141421700680502012-05-11T14:19:22.198-07:002012-05-11T14:19:22.198-07:00Squire--
Nothing would make me happier (well, in ...Squire--<br /><br />Nothing would make me happier (well, in the policy arena anyway) than roughly balanced federal budgets. <br /><br />It ain't happening, Jack. <br /><br />And the GOP has no track record of making it happen---precisely the opposite. The GOP rebrands itself every eight years as "really serious this time" about the deficits, until they decide again that "Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-56390179134770098442012-05-11T14:01:34.727-07:002012-05-11T14:01:34.727-07:00Sheila Blair has the last word.
http://finance.fo...Sheila Blair has the last word.<br /><br />http://finance.fortune.cnn.com/2012/05/11/sheila-bair-economy/?iid=HP_LNSquirehttps://www.blogger.com/profile/14088030568579672500noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-22585138355362617662012-05-11T13:44:25.717-07:002012-05-11T13:44:25.717-07:00What is alarming is the first chart, which shows a...What is alarming is the first chart, which shows a twenty year period of spending out growing revenues..<br /><br />Hans4katzzhttps://www.blogger.com/profile/12362478491988290924noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-50481802033827338482012-05-11T12:45:22.795-07:002012-05-11T12:45:22.795-07:00Scott,
What is your take on so called "fisca...Scott,<br /><br />What is your take on so called "fiscal cliff" i.e. expiring tax benefits, it is being assumed that this should reduce 2012 GDP by 4%. That could develop in kind of 2011 "goverment shutdown" volatility creation event.Family Manhttps://www.blogger.com/profile/16757562505353144887noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-78713386996475876552012-05-11T09:47:04.068-07:002012-05-11T09:47:04.068-07:00Benjamin’s position that important cuts to the bud...Benjamin’s position that important cuts to the budget are not happening and in fact will not happen means the Fed should engage in some real expansion. That is a good point.<br /><br />However, the Fed would be bailing out congress (again and again and again). When there are bailouts, the correct action doesn’t take place because the pressure is off to make it.Squirehttps://www.blogger.com/profile/14088030568579672500noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-75617599662676029812012-05-11T09:26:10.127-07:002012-05-11T09:26:10.127-07:00Randy, you haven’t been in the world of management...Randy, you haven’t been in the world of management. Why would a talented manager go to a company with risks when doing so he/she foregoes a safer engagement. Boards offer these guarantees and parachutes because they know things are not necessarily under the CEOs control. Most of the high pay comes from high performance. When management operates for the benefit of management the stock price Squirehttps://www.blogger.com/profile/14088030568579672500noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-86803348697366776012012-05-11T06:19:13.370-07:002012-05-11T06:19:13.370-07:00A clarifying comment - the biggest problem I have ...A clarifying comment - the biggest problem I have with over compensation is that it has distorted management incentives. This is manifested in too many bright people becoming investment bankers, essentially producing nothing; public companies taking outsized risks for short-term gain at the expense of long-term planning; investment capital seeking payday IPOs rather than long-term viability, randyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-59496283134586033612012-05-11T04:14:43.151-07:002012-05-11T04:14:43.151-07:00Scott:
While I appreciate your view as to the &qu...Scott:<br /><br />While I appreciate your view as to the "slow down in government spending", it is hard to take the argument of gridlock seriously. About 80% of government expenditure is "locke-in" Medicare. medicaid, Social security, defence and interest on the debt. <br /><br />As far as I know the only "planned"cuts are scheduled to occur in January 2013 -- Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-63747911185794859882012-05-11T03:24:36.902-07:002012-05-11T03:24:36.902-07:00" . . . markets (e.g., the bond market) have ..." . . . markets (e.g., the bond market) have proven that they can self-regulate just fine."<br /><br />Alan Greenspan famously said the same thing about the mortgage-backed securities market (a form of bonds). How did that work out??Ed Rhttps://www.blogger.com/profile/17720176132423294274noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65688177045050971162012-05-10T18:53:35.347-07:002012-05-10T18:53:35.347-07:00Don't tax you, don't tax me. Tax that man ...Don't tax you, don't tax me. Tax that man behind that tree.<br /><br />Richard Long, D-LA Senate Finance Chair, many moons ago.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-24936463367824921202012-05-10T16:46:08.827-07:002012-05-10T16:46:08.827-07:00I agree that an entrepreneur, inventor, risk taker...I agree that an entrepreneur, inventor, risk taker, performer should be able to make as much as they can. Public company CEOs too often leverage risk borne by company, shareholders, employees, and even the taxpayers (bailed out financial firms), pursuing speculative short-term growth in place of long-term viability, to earn ridiculous money that bears no relationship to their contribution. randyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-19694643751603604412012-05-10T14:27:39.775-07:002012-05-10T14:27:39.775-07:00randy: I appreciate your comments, but I disagree ...randy: I appreciate your comments, but I disagree with your second paragraph. It absolutely must be morally and economically defensible for anyone to make as much money as they can, because how much you make is ultimately a function of your value added. It is not morally defensible to say that just because one person makes more than another that he or she should therefore pay a higher tax rate. Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16831213631874797752012-05-10T14:05:43.359-07:002012-05-10T14:05:43.359-07:00(had to clean up previous post, my bad)
"The...(had to clean up previous post, my bad)<br /><br />"The Keynesian model asks one to turn economic common sense on its head in many ways."<br /><br />Exactly.<br /><br />It's easy for the average person to get lost in the sophisticated economic arguments made by Nobel prize winning theorists like Krugman. But the common person person has the common sense to know things like - you canrandyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49170884230562182212012-05-10T13:42:20.334-07:002012-05-10T13:42:20.334-07:00I think Keynesians confuse federal deficit stimulu...I think Keynesians confuse federal deficit stimulus with accommodation by the Fed. <br /><br />A bullish Fed can much better obtain growth (in concert with lower taxes on productive enterprises and a shrinking federal government) than deficit spending. <br /><br />The difficulty in austerity and tight money si that the profusion of sacred cows prevents the elimination of structural impediments.<Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-55260722986030070582012-05-10T13:39:02.729-07:002012-05-10T13:39:02.729-07:00This comment has been removed by the author.randyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-11098794174033475652012-05-10T13:37:19.018-07:002012-05-10T13:37:19.018-07:00This comment has been removed by the author.randyhttps://www.blogger.com/profile/16368254229927808998noreply@blogger.com