tag:blogger.com,1999:blog-6616959642391988608.post8027898550681560361..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: If the stimulus bill fails...Scott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-6616959642391988608.post-50750170608794115432009-02-15T21:08:00.000-08:002009-02-15T21:08:00.000-08:00In retrospect, what I said previously was clearly ...In retrospect, what I said previously was clearly offensive. I beg your pardon.Mark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-89278204264145726162009-02-15T20:47:00.000-08:002009-02-15T20:47:00.000-08:00True, core PPI is the last shoe to drop but, look ...True, core PPI is the last shoe to drop but, look at the other indicators. The dollar is trending upwards, and despite the panic gold is still below its peak value in March. The GDP deflator fell last quarter for the first time since 1954 (that would of course be nearly 55 years). Only a fool would try to deny the obvious.Mark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73885903896315562062009-02-15T19:30:00.000-08:002009-02-15T19:30:00.000-08:00Here are several reasons: I think it's too early t...Here are several reasons: <BR/><BR/>I think it's too early to say we are in a liquidity trap. Monetary policy has been relaxed to an extreme such as we've never before seen, and it's only been a few months since that happened. I don't see any shortage of money in the world whatsoever. I don't see fundamental signs of inflation, like a strengthening dollar or declining gold prices. I see commodityScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-6272257301400637992009-02-15T19:22:00.000-08:002009-02-15T19:22:00.000-08:00Give me just one thoughtful reason why you think w...Give me just one thoughtful reason why you think we are not in a liquidity trap. <BR/><BR/>Did you not notice that the Fed fund target was lowered to zero%? And did you not notice that the core PCE rose by only 0.15% last quarter?Mark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16517380822405536222009-02-15T14:39:00.000-08:002009-02-15T14:39:00.000-08:00Mark: I'm not sure we're in a liquidity trap. Mean...Mark: I'm not sure we're in a liquidity trap. <BR/><BR/>Meanwhile, you might be interested in this brief discussion of the problems inherent in standard Keynesian analysis:<BR/><BR/>http://www.cafehayek.com/hayek/2009/02/is-ycinxg-meaningful.htmlScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-32630975969779138842009-02-14T19:13:00.000-08:002009-02-14T19:13:00.000-08:00Given that we are now in a liquidity trap and that...Given that we are now in a liquidity trap and that few of you understand the IS-LM model or AD-AS I know that there is at least now the remotest posibility of escaping a deflationary spiral.Thanks to the latest vote we might just have saved our "arses."<BR/><BR/>P.S. Scott that's my other half speaking. My mother was Scottish. She grew up in a fishing village less than two miles from Adam Smith'sMark A. Sadowskihttps://www.blogger.com/profile/13147923641894915172noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-44457041410261780622009-02-14T09:02:00.000-08:002009-02-14T09:02:00.000-08:00Excellent!Excellent!Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-11283739965960005772009-02-14T06:44:00.000-08:002009-02-14T06:44:00.000-08:00"President Obama today called congressional passag..."President Obama today called congressional passage of his stimulus plan "a major milestone" in efforts to turn around the nation's economy, and he said he would soon sign the massive legislation into law."<BR/><BR/>He doesn't know how close he was. But the word is MILLSTONE.fwiw imhohttps://www.blogger.com/profile/00104416348284501272noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-39031212894637282942009-02-13T11:11:00.000-08:002009-02-13T11:11:00.000-08:00CDLIC: I tried the video but I have very poor hear...CDLIC: I tried the video but I have very poor hearing and couldn't make out what he was saying. But it is clear to me that Pelosi and Reid are disgraceful examples of public servants.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-29505032598250804982009-02-13T10:35:00.000-08:002009-02-13T10:35:00.000-08:00Someone should refer Specter, Snowe and Collins to...Someone should refer Specter, Snowe and Collins to an article by Walter Williams two days ago:<BR/><BR/>http://townhall.com/columnists/WalterEWilliams/2009/02/11/the_hell_with_our_constitution<BR/><BR/>He thinks FDR and Congress put the "Great" in the Great Depression. <BR/><BR/>Or someone should refer them to these quotes:<BR/><BR/>“The government solution to any problem is usually at least as Steve Grannishttps://www.blogger.com/profile/00770003896783381086noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34191017409403052522009-02-13T08:39:00.000-08:002009-02-13T08:39:00.000-08:00I would sure like to see this bill defeated as wel...I would sure like to see this bill defeated as well. Unfortunately, neither prayer nor action will change the fundamental belief of Democrats in bigger government and more redistribution from those with ability to those with need. I believe that is what gold is telling us. Gold buried in the back yard may be the only place assets are safe.<BR/><BR/>Our government is in debt -- massive, Mark Gerberhttps://www.blogger.com/profile/07980096984624964261noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-39925805584212084622009-02-13T06:43:00.000-08:002009-02-13T06:43:00.000-08:00I don't know if God works that way or not, but I p...I don't know if God works that way or not, but I prayed this morning.Brian Shelleyhttps://www.blogger.com/profile/01072759016620084338noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-9684381605402459522009-02-13T00:39:00.000-08:002009-02-13T00:39:00.000-08:00Scott,I admire your optimism as I am cut from the ...Scott,<BR/><BR/>I admire your optimism as I am cut from the same optimistic cloth; however, after watching the short 4 minute video of Harry Reid being interviewed and claiming that the American income tax is voluntary, I will have a more difficult time sleeping tonight knowing this brainless, irrational, non-producing idiot (excuse me, I error: he does produce.....uncertainty, waste and chaos) CDLIChttps://www.blogger.com/profile/01216074401236580903noreply@blogger.com