The Current Events, News, and Politics Thread
09-19-2012, 06:15 PM
#3002
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Yep. It started when I was the smallest pulling guard and outside linebacker in high school (our team did not when many games) and continued as light weight Muay Thai fighter. I'm little but I'm scrappy. 
Your metaphors are more than mixed: they are confused. 
1) All FOMC open market operations (aka anything designed to reduce or increase interest rates, including reducing or raising the Federal Funds Rate target) does and has for the past 40 years involved "firing up the printing press" (or firing up the spreadsheets as happens today).
2) The Federal Reserve's balance sheet does not have a direct correlation with US government sector debt or private sector debt. If anything, the past several years there has been an inverse relationship with the private sector. That is, the Fed's balance sheet has increased greatly while the private sector has delevered significantly (corporations quicker than households).
3) The Federal Reserve never has to sell any debt security they buy so there will virtually never be a forced unwinding or bursting of any sort of bubble there. They can hold those securities until maturity. Any interest and profits are passed along to the US Treasury (and, thus, sucked out of the US economy) and any losses are absorbed in their black hole of a balance sheet.
Edit: That's why I think Mark is asking you to think through how what you perceive is a bubble can unwind or burst. "Unwinding" being pretty benign to me and "bursting" being much less so.
If Big Ben is firing up the printing presses in order to fund QE3, then our monetary policy has a direct correlation to debt. My concern is if the debt bubble unwinds--which is a very real possibility--then everything we've discussed will happen.
1) All FOMC open market operations (aka anything designed to reduce or increase interest rates, including reducing or raising the Federal Funds Rate target) does and has for the past 40 years involved "firing up the printing press" (or firing up the spreadsheets as happens today).
2) The Federal Reserve's balance sheet does not have a direct correlation with US government sector debt or private sector debt. If anything, the past several years there has been an inverse relationship with the private sector. That is, the Fed's balance sheet has increased greatly while the private sector has delevered significantly (corporations quicker than households).
3) The Federal Reserve never has to sell any debt security they buy so there will virtually never be a forced unwinding or bursting of any sort of bubble there. They can hold those securities until maturity. Any interest and profits are passed along to the US Treasury (and, thus, sucked out of the US economy) and any losses are absorbed in their black hole of a balance sheet.
Edit: That's why I think Mark is asking you to think through how what you perceive is a bubble can unwind or burst. "Unwinding" being pretty benign to me and "bursting" being much less so.
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09-19-2012, 09:05 PM
#3003
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This was too good not to share. Protester dies after inhaling fumes from burning a US flag:
Asshat gets what he deserves
Asshat gets what he deserves
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09-20-2012, 09:21 AM
#3008
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The epitome of everything I hate about Obama:
“you're willing to stake your political career on there being a common ground?”
“That’s the core of my faith,” Obama replied.
his position has not evolved; he still hates America, the American way, and your success.
“you're willing to stake your political career on there being a common ground?”
“That’s the core of my faith,” Obama replied.
his position has not evolved; he still hates America, the American way, and your success.
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09-20-2012, 11:29 AM
#3015
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he's the only one with the Brown Coat following with ***** enough to create one. The obama flag represents collectivism, and is a mockery of American values.
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09-20-2012, 11:40 AM
#3016
He didn't create it, though. Some artist submitted it, and I'm willing to bet that Obama had nothing to do with the approvals process. They put it up on their website to sell as a bumper-sticker, and people are outraged?
Look, I don't like him either, but I also hate when people are outraged at stupid **** like this. We're a couple pitchforks and firebombs away from rioting because of a youtube video.
Look, I don't like him either, but I also hate when people are outraged at stupid **** like this. We're a couple pitchforks and firebombs away from rioting because of a youtube video.
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09-20-2012, 11:41 AM
#3017
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The flag, and the decision to sell it, represents and says things about Obama, his administration, and his sheep. The title, Our Stripes, is just beyond rediculous and scornfully arrogant.
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09-20-2012, 11:48 AM
#3019
Obama's campaign advisers must be absolutely giddy this morning.
Pawlenty resigns from Romney campaign to lobby
Pawlenty resigns from Romney campaign to lobby
WASHINGTON (AP) — Former Minnesota Gov. Tim Pawlenty is resigning as a national co-chairman of Republican Mitt Romney's presidential campaign to lobby for the financial services industry.
The Financial Services Roundtable announced Thursday that Pawlenty will become its new president and chief executive officer on November 1.
Pawlenty was an early entrant in the Republican presidential campaign, but he ended his bid last year amid poor polling before the primaries began. He was often mentioned as a potential running mate for Romney and has campaigned across the country for the nominee.
The Financial Services Roundtable said in a press release that Pawlenty was stepping down from the campaign because the group is a bipartisan organization.
The Financial Services Roundtable announced Thursday that Pawlenty will become its new president and chief executive officer on November 1.
Pawlenty was an early entrant in the Republican presidential campaign, but he ended his bid last year amid poor polling before the primaries began. He was often mentioned as a potential running mate for Romney and has campaigned across the country for the nominee.
The Financial Services Roundtable said in a press release that Pawlenty was stepping down from the campaign because the group is a bipartisan organization.
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09-20-2012, 12:04 PM
#3020
Originally Posted by Your metaphors are more than mixed: they are confused. :)
1) All FOMC open market operations (aka anything designed to reduce or increase interest rates, including reducing or raising the Federal Funds Rate target) does and has for the past 40 years involved "firing up the printing press" (or firing up the spreadsheets as happens today).
2) The Federal Reserve's balance sheet does not have a direct correlation with US government sector debt or private sector debt. If anything, the past several years there has been an [I
1) All FOMC open market operations (aka anything designed to reduce or increase interest rates, including reducing or raising the Federal Funds Rate target) does and has for the past 40 years involved "firing up the printing press" (or firing up the spreadsheets as happens today).
2) The Federal Reserve's balance sheet does not have a direct correlation with US government sector debt or private sector debt. If anything, the past several years there has been an [I
inverse[/I] relationship with the private sector. That is, the Fed's balance sheet has increased greatly while the private sector has delevered significantly (corporations quicker than households).
3) The Federal Reserve never has to sell any debt security they buy so there will virtually never be a forced unwinding or bursting of any sort of bubble there. They can hold those securities until maturity. Any interest and profits are passed along to the US Treasury (and, thus, sucked out of the US economy) and any losses are absorbed in their black hole of a balance sheet.
Edit: That's why I think Mark is asking you to think through how what you perceive is a bubble can unwind or burst. "Unwinding" being pretty benign to me and "bursting" being much less so.
3) The Federal Reserve never has to sell any debt security they buy so there will virtually never be a forced unwinding or bursting of any sort of bubble there. They can hold those securities until maturity. Any interest and profits are passed along to the US Treasury (and, thus, sucked out of the US economy) and any losses are absorbed in their black hole of a balance sheet.
Edit: That's why I think Mark is asking you to think through how what you perceive is a bubble can unwind or burst. "Unwinding" being pretty benign to me and "bursting" being much less so.
This could give us a perfect storm debt swap bond collapse when the bubble unwinds.
You must love those Austrians Jack.
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