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TheBreeze
Participant[quote=davelj]
Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.
But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.
Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.[/quote]
The simpler explanation is that Bernanke is a fool and he has no idea as to what he’s doing. And how is printing $1.2 trillion an indication of a fighter? To me, it just shows that Bernanke will take the easiest way out — attempt to reflate the bad assets in order to help out the politically powerful at the expense of the politically powerless. Bernanke, Geithner, and now Obama by implication, are all just tools of the establishment.
And how do you know that what Bernanke is doing will ‘avoid GDII’? Maybe he’s just pushing it out a few years, but now when we get there, we also have a worthless currency. That would follow the GDI time line where there is a crash, followed by a sucker’s rally, and then a long, slow decline.
As for a plan, why not just let the corporations fail? The U.S. should have a safety net for the poeple, not one for corporations. I’m no economist, but I don’t see how printing money to reflate assets which the market has deemed as bad is going to fix anything. It just looks like a massive misallocation of capital. Instead of going to some useful purpose, that money is essentially being flushed down the drain.
As for your TARP calculations, with government printing presses firing on all cylinders, the TARP may actually come out ahead. Of course, it may take a wheelbarrow full of greenbacks to buy a loaf of bread when Bernanke is done, but at least GDII will have been put off for a while.
Participant[quote=davelj]
Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.
But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.
Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.[/quote]
The simpler explanation is that Bernanke is a fool and he has no idea as to what he’s doing. And how is printing $1.2 trillion an indication of a fighter? To me, it just shows that Bernanke will take the easiest way out — attempt to reflate the bad assets in order to help out the politically powerful at the expense of the politically powerless. Bernanke, Geithner, and now Obama by implication, are all just tools of the establishment.
And how do you know that what Bernanke is doing will ‘avoid GDII’? Maybe he’s just pushing it out a few years, but now when we get there, we also have a worthless currency. That would follow the GDI time line where there is a crash, followed by a sucker’s rally, and then a long, slow decline.
As for a plan, why not just let the corporations fail? The U.S. should have a safety net for the poeple, not one for corporations. I’m no economist, but I don’t see how printing money to reflate assets which the market has deemed as bad is going to fix anything. It just looks like a massive misallocation of capital. Instead of going to some useful purpose, that money is essentially being flushed down the drain.
As for your TARP calculations, with government printing presses firing on all cylinders, the TARP may actually come out ahead. Of course, it may take a wheelbarrow full of greenbacks to buy a loaf of bread when Bernanke is done, but at least GDII will have been put off for a while.
Participant[quote=davelj]
Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.
But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.
Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.[/quote]
The simpler explanation is that Bernanke is a fool and he has no idea as to what he’s doing. And how is printing $1.2 trillion an indication of a fighter? To me, it just shows that Bernanke will take the easiest way out — attempt to reflate the bad assets in order to help out the politically powerful at the expense of the politically powerless. Bernanke, Geithner, and now Obama by implication, are all just tools of the establishment.
And how do you know that what Bernanke is doing will ‘avoid GDII’? Maybe he’s just pushing it out a few years, but now when we get there, we also have a worthless currency. That would follow the GDI time line where there is a crash, followed by a sucker’s rally, and then a long, slow decline.
As for a plan, why not just let the corporations fail? The U.S. should have a safety net for the poeple, not one for corporations. I’m no economist, but I don’t see how printing money to reflate assets which the market has deemed as bad is going to fix anything. It just looks like a massive misallocation of capital. Instead of going to some useful purpose, that money is essentially being flushed down the drain.
As for your TARP calculations, with government printing presses firing on all cylinders, the TARP may actually come out ahead. Of course, it may take a wheelbarrow full of greenbacks to buy a loaf of bread when Bernanke is done, but at least GDII will have been put off for a while.
Participant[quote=davelj]
Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.
But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.
Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.[/quote]
The simpler explanation is that Bernanke is a fool and he has no idea as to what he’s doing. And how is printing $1.2 trillion an indication of a fighter? To me, it just shows that Bernanke will take the easiest way out — attempt to reflate the bad assets in order to help out the politically powerful at the expense of the politically powerless. Bernanke, Geithner, and now Obama by implication, are all just tools of the establishment.
And how do you know that what Bernanke is doing will ‘avoid GDII’? Maybe he’s just pushing it out a few years, but now when we get there, we also have a worthless currency. That would follow the GDI time line where there is a crash, followed by a sucker’s rally, and then a long, slow decline.
As for a plan, why not just let the corporations fail? The U.S. should have a safety net for the poeple, not one for corporations. I’m no economist, but I don’t see how printing money to reflate assets which the market has deemed as bad is going to fix anything. It just looks like a massive misallocation of capital. Instead of going to some useful purpose, that money is essentially being flushed down the drain.
As for your TARP calculations, with government printing presses firing on all cylinders, the TARP may actually come out ahead. Of course, it may take a wheelbarrow full of greenbacks to buy a loaf of bread when Bernanke is done, but at least GDII will have been put off for a while.
ParticipantBy the way, I wish all of you top-1-percenters good luck in the upcoming war between you and the rest of America. I think it will be a good, clean, fair fight where stolen wealth makes not a whit not.
It looks like you top-1-percenters will also have some help in the form of Alan from Fallbrook — he of the excellent balance-sheet reading skills. So tell us Alan, using your supersharp balance-sheet reading skills, where will the U.S. end up vis-a-vis the TARP? Up 10%? Down 35%? Will taxpayers lose it all? Will the government come up with some other feces-filled plan to bail out the TARP so that it looks like the TARP actually makes money in the end?
You top-1-percenters be sure to make good use of Alan during the battle. Of course, he will probably have his head so far up davelj’s ass that he can’t shoot straight, but you top-1-percenters should be used to that. Good luck, and God speed.
ParticipantBy the way, I wish all of you top-1-percenters good luck in the upcoming war between you and the rest of America. I think it will be a good, clean, fair fight where stolen wealth makes not a whit not.
It looks like you top-1-percenters will also have some help in the form of Alan from Fallbrook — he of the excellent balance-sheet reading skills. So tell us Alan, using your supersharp balance-sheet reading skills, where will the U.S. end up vis-a-vis the TARP? Up 10%? Down 35%? Will taxpayers lose it all? Will the government come up with some other feces-filled plan to bail out the TARP so that it looks like the TARP actually makes money in the end?
You top-1-percenters be sure to make good use of Alan during the battle. Of course, he will probably have his head so far up davelj’s ass that he can’t shoot straight, but you top-1-percenters should be used to that. Good luck, and God speed.
ParticipantBy the way, I wish all of you top-1-percenters good luck in the upcoming war between you and the rest of America. I think it will be a good, clean, fair fight where stolen wealth makes not a whit not.
It looks like you top-1-percenters will also have some help in the form of Alan from Fallbrook — he of the excellent balance-sheet reading skills. So tell us Alan, using your supersharp balance-sheet reading skills, where will the U.S. end up vis-a-vis the TARP? Up 10%? Down 35%? Will taxpayers lose it all? Will the government come up with some other feces-filled plan to bail out the TARP so that it looks like the TARP actually makes money in the end?
You top-1-percenters be sure to make good use of Alan during the battle. Of course, he will probably have his head so far up davelj’s ass that he can’t shoot straight, but you top-1-percenters should be used to that. Good luck, and God speed.
ParticipantBy the way, I wish all of you top-1-percenters good luck in the upcoming war between you and the rest of America. I think it will be a good, clean, fair fight where stolen wealth makes not a whit not.
It looks like you top-1-percenters will also have some help in the form of Alan from Fallbrook — he of the excellent balance-sheet reading skills. So tell us Alan, using your supersharp balance-sheet reading skills, where will the U.S. end up vis-a-vis the TARP? Up 10%? Down 35%? Will taxpayers lose it all? Will the government come up with some other feces-filled plan to bail out the TARP so that it looks like the TARP actually makes money in the end?
You top-1-percenters be sure to make good use of Alan during the battle. Of course, he will probably have his head so far up davelj’s ass that he can’t shoot straight, but you top-1-percenters should be used to that. Good luck, and God speed.
ParticipantBy the way, I wish all of you top-1-percenters good luck in the upcoming war between you and the rest of America. I think it will be a good, clean, fair fight where stolen wealth makes not a whit not.
It looks like you top-1-percenters will also have some help in the form of Alan from Fallbrook — he of the excellent balance-sheet reading skills. So tell us Alan, using your supersharp balance-sheet reading skills, where will the U.S. end up vis-a-vis the TARP? Up 10%? Down 35%? Will taxpayers lose it all? Will the government come up with some other feces-filled plan to bail out the TARP so that it looks like the TARP actually makes money in the end?
You top-1-percenters be sure to make good use of Alan during the battle. Of course, he will probably have his head so far up davelj’s ass that he can’t shoot straight, but you top-1-percenters should be used to that. Good luck, and God speed.
Participant[quote=Allan from Fallbrook]Arraya: See linked article from WashPost regarding outcry over AIG bonuses.
The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.
This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.[/quote]
Man, what if every AIG employee were to die? Man, that would be interesting.
Participant[quote=Allan from Fallbrook]Arraya: See linked article from WashPost regarding outcry over AIG bonuses.
The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.
This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.[/quote]
Man, what if every AIG employee were to die? Man, that would be interesting.
Participant[quote=Allan from Fallbrook]Arraya: See linked article from WashPost regarding outcry over AIG bonuses.
The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.
This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.[/quote]
Man, what if every AIG employee were to die? Man, that would be interesting.
Participant[quote=Allan from Fallbrook]Arraya: See linked article from WashPost regarding outcry over AIG bonuses.
The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.
This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.[/quote]
Man, what if every AIG employee were to die? Man, that would be interesting.
Participant[quote=Allan from Fallbrook]Arraya: See linked article from WashPost regarding outcry over AIG bonuses.
The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.
This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.[/quote]
Man, what if every AIG employee were to die? Man, that would be interesting.
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