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No easy answers we're all farked
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Tue Apr 02, 2013 9:56 am    Post subject: Reply with quote

1573...Fannie and Freddie quite profitable....still not Farked, quite the contrary, just re-fied to 3.5%, maybe I'll grab an Audi TDI SUV. carry on.
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mac



Joined: 07 Mar 1999
Posts: 5570

PostPosted: Tue Apr 02, 2013 10:55 am    Post subject: Reply with quote

For the past decade, David Stockman has been one of the more interesting commentors on American economic issues. Liberals may like him because he has acknowledged the utter nonsense of the supply-side gospel he once preached. I am interested in anyone who has the introspection to critically evaluate assumptions he once held without question. He has an interesting, alebit cranky take on the possible inflation of a new speculative bubble in the March 30 New York Times. See it here: http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?pagewanted=all&_r=0

For balance you can get the critiques of folks like Krugman quite easily.

I don't entirely agree with his essential premise; the Fed has done a better job than naked market forces of managing the economy. And yet....
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capetonian



Joined: 11 Aug 2006
Posts: 907
Location: Oahu

PostPosted: Tue Apr 02, 2013 11:59 am    Post subject: Reply with quote

mac wrote:
For the past decade, David Stockman has been one of the more interesting commentors on American economic issues. Liberals may like him because he has acknowledged the utter nonsense of the supply-side gospel he once preached. I am interested in anyone who has the introspection to critically evaluate assumptions he once held without question. He has an interesting, alebit cranky take on the possible inflation of a new speculative bubble in the March 30 New York Times. See it here: http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?pagewanted=all&_r=0

For balance you can get the critiques of folks like Krugman quite easily.

I don't entirely agree with his essential premise; the Fed has done a better job than naked market forces of managing the economy. And yet....


Krugman really has a rant about Stockman's article:
"I thought there would be some kind of real argument, some presentation, however tendentious, of evidence. Instead itís just a series of gee-whiz, context- and model-free numbers embedded in a rant ó and not even an interesting rant. Itís cranky old man stuff, the kind of thing you get from people who read Investors Business Daily, listen to Rush Limbaugh"

Thanks Mr Krugman, you just made me want to buy Stockman's book. Smile
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Tue Apr 02, 2013 12:32 pm    Post subject: Reply with quote

I enjoy both Krugman, and Stockman. There are very few, if any, economist/columnists in history that have had a better record in predicting economic/market outcomes than Paul Krugman. Stockman makes a lot of good points, and I always enjoy reading a well known Republican taking his own party behind the woodshed.....BUT a lot of the rant is unrealistic. 8 week campaigns? 6 year terms? c'mon man.
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stevenbard



Joined: 11 Nov 1993
Posts: 4340

PostPosted: Wed Apr 03, 2013 1:43 am    Post subject: Reply with quote

A flat tax would end all of this nonsense....

The only safe way out of this massive debt is to inflate. If I were you Boggs, I'd borrow all I could at 3.5% and leverage to the hilt. My prediction is 3 more years until the inflation genie is off and running.
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Wed Apr 03, 2013 8:25 am    Post subject: Reply with quote

I disagree Steve. We have been here. I think deflation is a much bigger likelihood than massive inflation. I think the dollar is going to flatten the worlds currencies in the next five years. You are not going to get a flat tax in this lifetime, the big wigs do better shielding income , and the leftys wont want the poor getting hit 17%, another Stcokman pipedream.
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coboardhead



Joined: 26 Oct 2009
Posts: 2036

PostPosted: Wed Apr 03, 2013 9:24 am    Post subject: Reply with quote

boggsman1 wrote:
1573...Fannie and Freddie quite profitable....still not Farked, quite the contrary, just re-fied to 3.5%, maybe I'll grab an Audi TDI SUV. carry on.


Q7??? I am looking for a new ride to replace the aging Bimmer. $50k+++is too rich for me. I am hoping the Q3 TDI shows up in the US.
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isobars



Joined: 12 Dec 1999
Posts: 14612

PostPosted: Wed Apr 03, 2013 9:40 am    Post subject: Reply with quote

stevenbard wrote:
A flat tax would end all of this nonsense.....

Have you studied the Fair Tax? $20M in research by the nation's top business schools say it's by far the best solution.
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boggsman1



Joined: 24 Jun 2002
Posts: 3753
Location: at a computer

PostPosted: Wed Apr 03, 2013 9:48 am    Post subject: Reply with quote

coboardhead wrote:
boggsman1 wrote:
1573...Fannie and Freddie quite profitable....still not Farked, quite the contrary, just re-fied to 3.5%, maybe I'll grab an Audi TDI SUV. carry on.


Q7??? I am looking for a new ride to replace the aging Bimmer. $50k+++is too rich for me. I am hoping the Q3 TDI shows up in the US.

In the Fall, the q5 TDI is coming out, with a new engine. 275HP, 450 lbs torque, 40 mpg.
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coboardhead



Joined: 26 Oct 2009
Posts: 2036

PostPosted: Wed Apr 03, 2013 9:51 am    Post subject: Reply with quote

boggsman1 wrote:
coboardhead wrote:
boggsman1 wrote:
1573...Fannie and Freddie quite profitable....still not Farked, quite the contrary, just re-fied to 3.5%, maybe I'll grab an Audi TDI SUV. carry on.


Q7??? I am looking for a new ride to replace the aging Bimmer. $50k+++is too rich for me. I am hoping the Q3 TDI shows up in the US.

In the Fall, the q5 TDI is coming out, with a new engine. 275HP, 450 lbs torque, 40 mpg.


Sweet. I wonder if two 29ers will fit inside.
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