gdp's Comments

Left, Right & Center - KCRW : An Iran Deal, Supremes on Obamacare, Gratitude - Left, Right & Center on KCRW 89.9 FM | Internet Pub

Sat, 30 Nov 2013 03:19:10 +0000

LEFT RIGHT AND CENTER MY ASS.... MATT'S rabid, hate filled treatment of Bob on this show was horrific. Center? Not hardly. .... he's just a right wing neocon jihadi about Iran HORRIBLY biased, two against one and I won't be tuning in again most likely until his fascist drivel is no longer presented as the "centre".

EconoMonitor : Iran’s Untouchable Energy Exports

Tue, 6 Nov 2012 04:22:39 +0000

Thanks so much for contributing to the rush towards World War III, Yves. I'm sure you will be rewarded for it. However, there ARE drawbacks to World War III, which will surely go nuclear. But what do you care?

EconoMonitor : 25th Anniversary Black Monday 1987 Crash

Mon, 22 Oct 2012 02:03:07 +0000

I was completely short this market, starting in late August 1987; it was obvious this would happen because of the bloodbath that was occurring in Japanese bonds beforehand. I remember the idiot oligarchs and cretins at the investment banks calling basket trading (capitalizing on the spread between the futures and underlying cash stocks) "RISK-FREE arbitrage at the time. Of course, during this crash, ALL the floor traders in Chicago split the scene and went hoe because they were not about to risk their little life savings stakes of half a million just to "provide liquidity" by catching a falling knife and buying these futures as the "risk free arbitrage" positions were unwound by panicked quants. Funny how I never heard that term "risk free arbitrage" after that crash of 1987.

Nouriel Roubini's Global EconoMonitor : Hard to be Easing

Thu, 18 Oct 2012 02:07:05 +0000

The most direct way to stimulate spending and therefore aggregate demand is through direct cash transfers to the poorest of the poor and our seniors, who spend a FAR higher percentage of their income than the billionaires. Triple the size of everyone's unemployment check. Give $5000 to everyone on Social Security. But the oligarchs would never permit that. Why? Because the ONLY way the Fed will make money on its trillion dollar Treasury portfolio is through controlled DEflation. Rocket science to the Americans.

EconoMonitor : Is the Fed Buying Up All the Treasury Debt?

Tue, 2 Oct 2012 01:59:48 +0000

The Fed is making out like a bandit with their massive bond holdings which SOAR in value in DEflation. There is NO WAY they will let inflation return. As rational actors, they will favor DEflation, which helps their bond holdings. Rocket science to the Americans.

Ed Dolan's Econ Blog : Latest GDP Revision Carries a Mixed Message for the Election: Economy Weak, but Corporate Profits St

Mon, 1 Oct 2012 00:09:40 +0000

To me, these ensembles say that the massive transfer of global wealth DIRECTLY to the 1% oligarchs is accelerating. Transfer tax pricing of intangibles. Think about it. Big party for everyone with Treasuries. Deflation.

EconoMonitor : Restoring The Legitimacy Of The Federal Reserve

Mon, 24 Sep 2012 03:32:29 +0000

HYPERleverage was clearly one primary (but not the only) cause of the Great Financial Collapse. Raising the capital requirements is a competent way to address that.

Ed Dolan's Econ Blog : Could QE3 Cause the Fed to Go Broke?

Sun, 23 Sep 2012 15:53:57 +0000

The Fed is not a government agency. It is a hyrbrid. It has public aspects (such as a dual mandate, Humphrey Hawkins obligations to Congress and appointment of various FOMC members) AND it has a private component as well, most definitively expressed in the makeup of the various Fed branches. Asserting the Fed is ONLY a government agency or ONLY a private entity is simply false and leads to skewed extrapolations.

Ed Dolan's Econ Blog : Could QE3 Cause the Fed to Go Broke?

Sun, 23 Sep 2012 15:51:38 +0000

They are certainly relevant in examining the systematic overweighting of inflation risks by Ed and the St. Louis Fed.

Ed Dolan's Econ Blog : Could QE3 Cause the Fed to Go Broke?

Fri, 21 Sep 2012 02:20:36 +0000

Actually I think Ed is dramatically oversimplifying a very complex topic. So much of this has to do with the collapsing income velocity of the various monetary aggregates caused by Reagan's banking deregulation, a folly that has changed central banking forever. He seems completely unaware of the collapse of monetarism among the intellectual elites in the various Federal Reserve branches OTHER than the diehard monetarists still holed up at the St. Louis Fed branch. He is dramatically oversimplifying and misapprehending the current intellectual frameworks driving Fed policy today. Rajan knows what I'm talking about. University of Chicago.

Ed Dolan's Econ Blog : Could QE3 Cause the Fed to Go Broke?

Thu, 20 Sep 2012 02:03:58 +0000

The Fed does not exist in a vacuum. Let's stipulate that a bond bubble bursts in a surge of inflationary expectations. Do you really think the open market desk of the Fed will NOT be doing reverse repos and various calendar spreads to profit on such an event? At any event, you miss the big picture. It is in the narrow self interest of the Fed's portfolio to have modest deflation. So they are NOT going to permit any other scenarios to develop. What is the biggest component of the cost of a widget? Unit labor costs. And the unions have been smashed. The deflationary biases in the system are overwhelming. Advantage Fed. Rocket Science to the Americans.

RGE Analysts' EconoMonitor : Live Blogging the Financial Meltdown: Nouriel’s 26 Early Warnings and Predictions

Mon, 3 Sep 2012 19:58:03 +0000

I think (and Roubini seems to agree) that a dollar crash in the short to intermediate term is MOST unlikely. If Roubini DOES agree that there is more than a 4% chance of a dollar crash in the next 30 months he is flat out WRONG! But in reality, Roubini implicitly seems to agree with my 30-month scenario of SOARING US government bond prices. The Fed has nearly TWO trillion in its kitty comprised of US Treasuries, not to mention the repos that the Fed's Open Market Trading Desk, formerly headed by Richard L., has participated in. Assuming the Fed acts in their narrow self interest, the BIG rally in US bonds will continue and THIS will be fostered by slow DEflation. And EVERY libertarian believes, a priori, that we are all rational actors and that therefore the Fed will countenance modest DEflation so their bond portfolios, and the swaps they have issued on that portfolio, continue to SOAR in value, making out like bandits. Ron Paul has zero knowledge of this. Roubini understands most, but not all of this, but the notion of a dollar crash in the next 30 months is absurd.

RGE Analysts' EconoMonitor : Live Blogging the Financial Meltdown: Nouriel’s 26 Early Warnings and Predictions

Mon, 3 Sep 2012 19:53:02 +0000

I think (and Roubini seems to agree) that a dollar crash in the intermediate term is MOST unlikely. The Fed has nearly TWO trillion in its kitty comprised of US Treasuries, not to mention the repos that the Fed's Open Market Trading Desk, formerly headed by Richard L., has participated in. Assuming the Fed acts in their narrow self interest, the BIG rally in US bonds will continue and THIS will be fostered by slow DEflation. And EVERY libertarian believes, a priori, that we are all rational actors and that therefore the Fed will countenance modest DEflation so their bond portfolios, and the swaps they have issued on that portfolio, continue to SOAR in value, making out like bandits. Ron Paul has zero knowledge of this. Roubini understands most, but not all of this, but the notion of a dollar crash in the next 30 months is absurd.

EconoMonitor : Weighing the Week Ahead: Hopes Too High for Jackson Hole?

Tue, 28 Aug 2012 02:53:19 +0000

Also another major sign of the ascendancy of the Kansas City Fed vs. the lost souls of the St. Louis Fed is that this Jackson Hole conference is, of course, sponsored by the KC Fed from the beginning. St. Louis just isn't smart enough to put something like that together. Their credibility is shot. You substantially overweight St. Louis Fed data and commentary in your analysis. A common, but serious mistake. Immerse yourself in Kansas City Fed. Get up to speed. http://en.wikipedia.org/wiki/Wayne_Angell

EconoMonitor : Weighing the Week Ahead: Hopes Too High for Jackson Hole?

Tue, 28 Aug 2012 02:49:01 +0000

Look like a real interesting article here Jeff. Good hard serious work. I'm of the collapsing scenario of market capitalism approach here. I have scrupulously stayed away from the St. Louis Fed for decades; it is clear within Fed circles that their star has dimmed considerably ever since Wayne Angell saved Volcker from monetarism and since Hoenig recommended "Operation Twist" of Kansas City Fed research fame. But you mean well and you are a sharp guy.

Nouriel Roubini's Global EconoMonitor : Early Retirement for the Eurozone?

Fri, 24 Aug 2012 04:03:34 +0000

One of the intermediate policy objectives MUST be to manage excess morbidity spikes caused by massive cutbacks in public health systems and social safety nets. We need absolute limits on the quantity of innocents killed here. A hard landing is MUCH better than a crash landing. Fewer fatalities. Austerity kills. Read the epidemiology. We need to focus on that, reducing premature and unnecessary fatalities, rather than ONLY maximum subservience to free market jihadi nitwits.

Peterson Institute for International Economics : The Political Redefinition of Europe

Fri, 24 Aug 2012 03:50:55 +0000

Celebrate the new feudal state, where the holders of the sovereign credit default swaps are our brutal overlords!

The Kapali Carsi : Severance pay in Turkey: Chains binding capitalists and proletarians

Sun, 19 Aug 2012 22:12:52 +0000

Thanks for helping the plutocrats continue the plunder!

EconoMonitor : Guest Post: Correa Is No Chávez

Fri, 10 Aug 2012 04:02:48 +0000

If Correa successfully defends in a military manner any attempt by a United States expeditionary force Navy Seals team to "rescue" Julian Assange, now residing in that nation, the terms of your calculus would necessarily need to change. You need to learn to think ahead. This is why you are so mistaken.

EconoMonitor : When Did The Economist Become Comically Stupid?

Fri, 3 Aug 2012 03:32:59 +0000

They are trying to expand their circulation in the USA and so therefore have decided to dumb down the publication to make if more suitable for the illiterates across the pond.