And the Nobel in Economics Goes To.....

[CultureCitizen]

why not repair an infrastructure that we already know needs it and get more people working thus reducing the number of people collecting a check for watching TV

100% stupid and liberal as usual. Why not get them real jobs in real businesses where they make stuff in a competitive environment that people actually want to buy to improve their standard of living. The USSR failed because everyone had make- work government jobs..

Do you have the IQ to understand that??

Ok Ed : tell me exactly what kind of assets went into QE3. And proove it with actual references and not just your usual mouthfull of hot air.
... I'll save you the the job . Nobody knows :

“I want to be completely clear that I strongly oppose Audit the Fed,” she told the Senate Banking Committee at a hearing. “Audit the Fed is a bill that would politicize monetary policy and it would bring short-term political pressures to bear on the Fed.”
Janet Yellen

Once more with feeling Janet Yellen pans Audit the Fed - POLITICO

And although the main goal of this article is not to assert that al the QE money goes into financial instruments, but rather how that money supply is causing an asset buble ( and to which extent the money allocation is actually transfered into the financial instruments). It certainly supports my point of view.

Money Doesn t Really Go Into Other Financial Assets - Ludwig von Mises Institute Canada

 

[EdwardBaiamonte]

WE can't even afford to buy the things we make.

idiotic liberal gibberish. SA cant afford to buy the bananas it grows and the Saudis cant afford the
oil they produce and China cant afford to buy the iphones it produces. This has nothing to do with economic growth you poor liberal idiot..

 

[EdwardBaiamonte]

Plus, dear Ed, we've been in the grips of Reagan Republican capitalism.

100% stupid since govt is bigger than ever. That is socialism, not capitalist, idiot. Also, 30 million jobs were off shored by liberal unions taxes and deficits. This is not to mention that liberals invited in 20 million illegals in to take the remaining jobs and drive down wages. And this is not to mention the liberal attack on the family and schools.

See why we have to be positive that liberalism is based in pure ignorance??

 

[EdwardBaiamonte]

Ok Ed : tell me exactly what kind of assets went into QE3.

dear what on earth is your subject???? QE3 was not mentioned??? IF you don't know what the the subject is how can you learn??

 

[EdwardBaiamonte]

Actually it isn't.

Could you ellaborate ?
I think banks and the Fed have been quite cynical regarding QE and specially QE3.
The Feds buy assets from the banks. The banks (and only them ) kind of know the quallity of those assets.
And the Fed purchases them expecting to recover the price. QE3 is over , but I don't really know anyone who knows exactly what's on those assets ( subprimes + CDS from entities who can't cover the default maybe?).
So yea, buying and selling my mortgage and then defaulting is quite cynical and it is maybe not exactly QE, but its pretty darn close.

and your option is to let the economy sink into depression? See why we say liberalism is based in pure ignorance??

 

[CrusaderFrank]

"uh, so what's happening with the US economy? Er, that would take a lot of research to know, and we haven't done any actual research. We're just here for the swag bag."

So they get the prize for their work on how to measure the economy, and fail to answer the question of what's wrong with it. That wasn't a stupid response, in context that was just a stupid question. Everyone knows that if you really want to know what's wrong with the economy you just ask Paul Krugman.

Krugman is wrong in the trillions column

 

[Pksimon2007]

Debt, it is not so bad for the US.

of course thats very stupid. Growing debt has to be paid back with interest and growing taxes that cripple the economy . In this case it is govt debt which is wasted on welfare and bridges to no where making it much worse. Its like paying off a house that you don't get to live in. It lowers your standard of living.

- The national debt does not have to be paid back. It's not a debt like a household debt.

We've gone over this many times.

 

[EdwardBaiamonte]

- The national debt does not have to be paid back. It's not a debt like a household debt.

spoken like a true idiot liberal. If it does not have to paid back who are the fools lending to us anyway??

 

[Toddsterpatriot]

Actually it isn't.

Could you ellaborate ?
I think banks and the Fed have been quite cynical regarding QE and specially QE3.
The Feds buy assets from the banks. The banks (and only them ) kind of know the quallity of those assets.
And the Fed purchases them expecting to recover the price. QE3 is over , but I don't really know anyone who knows exactly what's on those assets ( subprimes + CDS from entities who can't cover the default maybe?).
So yea, buying and selling my mortgage and then defaulting is quite cynical and it is maybe not exactly QE, but its pretty darn close.

The Feds buy assets from the banks. The banks (and only them ) kind of know the quallity of those assets.

The Fed only buys guaranteed bonds. The highest quality.

And the Fed purchases them expecting to recover the price.

No, the Fed buys them to add reserves to the system and to lower interest rates.

but I don't really know anyone who knows exactly what's on those assets

The Fed publishes their holdings weekly.

subprimes + CDS from entities who can't cover the default maybe?

Nope. No subprime bonds. Certainly no derivatives.

So yea, buying and selling my mortgage and then defaulting is quite cynical and it is maybe not exactly QE,

That makes no sense.

 

[Toddsterpatriot]

What a smug liberal ass. If true sell your house and short the stock and real estate markets!!

I do realize you're the lib fool who wants to ban international trade so we have to grow our own bananas at 50 times the cost.

Smarter even : buy my mortgage from the bank , sell it to the fed as triple A asset and then default on it.
That's QE mostly.

Smarter even : buy my mortgage from the bank , sell it to the fed as triple A asset and then default on it.

They can't default on your mortgage, only you can do that.

 

[oldernwiser]

Actually it isn't.

Could you ellaborate ?
I think banks and the Fed have been quite cynical regarding QE and specially QE3.
The Feds buy assets from the banks. The banks (and only them ) kind of know the quallity of those assets.
And the Fed purchases them expecting to recover the price. QE3 is over , but I don't really know anyone who knows exactly what's on those assets ( subprimes + CDS from entities who can't cover the default maybe?).
So yea, buying and selling my mortgage and then defaulting is quite cynical and it is maybe not exactly QE, but its pretty darn close.

and your option is to let the economy sink into depression? See why we say liberalism is based in pure ignorance??

Oh wait... let us flash back to a nice recent date only 7 years ago when conservatism held sway. Surely you aren't intimating that an impending liberal president was what caused the economy to come perilously close to a depression? Or maybe what you're saying is that it was liberal ignorance that not only prevented full-scale depression, but actually began turning the economy around (and with the blessings of some of the same conservatives who now tell us how ridiculous the measures were just ahead of election cycles)?

 

[oldernwiser]

WE can't even afford to buy the things we make.

idiotic liberal gibberish. SA cant afford to buy the bananas it grows and the Saudis cant afford the
oil they produce and China cant afford to buy the iphones it produces. This has nothing to do with economic growth you poor liberal idiot..

Dear Ed... you don't see the forest for the trees, do you?
You're kind of one-dimensional here - if it's good enough for the richest, it ought to be good enough for everyone. But there's a difference between economic growth and individual prosperity, as you just pointed out. Here's the deal, Ed, we don't produce ANY of the electronic components in any consumer product sold in the US. Know why? Because if we did, we couldn't afford to buy them. Same as the South Americans who can't eat the bananas they produce or the Suadis who can't afford the gas.

Now, blast me for the liberal I am (at times), but you can't argue this point. It certainly is possible to have a booming economy and still live in abject squalor. (Don't make me trot out the pictures of city life in Mumbai!)

 

[oldernwiser]

- The national debt does not have to be paid back. It's not a debt like a household debt.

spoken like a true idiot liberal. If it does not have to paid back who are the fools lending to us anyway??

We would be those fools, Ed - you and me. We're borrowing from tomorrow to pay for what we need today - it's how our country got started and with very few exceptions has maintained itself ever since. There is a problem with borrowing more than what tomorrow has to offer, but we haven't seemed to hit that point yet - or even come moderately close to it no matter how many lunatic conservatives (whose own income depends on scaring the most people) cover their heads and look furtively to the heavens.

 

[oldernwiser]

Ed... that's mountain out a molehill. It would mean rebuilding bridges that have already begun to crumble -

total idiot liberal!! If it would mean that why does the libturd bureaucratic monopoly build bridges to no where and why did the USSR and Red China fail.

A liberal is too stupid to understand that a libturd bureaucratic monopoly is inefficient and even after $20 trillion of debt the infrastructure is still crumbling. China just switched to capitalism and instantly ended 40% of the world's poverty and yet brain dead, anti science, liberals still go with their idiotic fantasies.

Dearest Ed, the bridge to nowhere thing was just dismissed as a fallacy created by you. There was, to the best of my knowledge, only one time when a "bridge to nowhere" was even suggested - the Gravina Island Bridge - and that was championed by that bastion of libturd values Sarah Palin. Are we done with the history lesson part yet, Ed? Or do I need to remind you that the nearly $400M boondoggle was the brainchild of 2 more not-quite-liberal senators from that reddest of states and killed in 2011 by a truly conservative Democrat congress (85-12)? Oh wait... maybe those were the libturds. I get confused with all the nonsense you seem willing to just toss out.

The USSR failed because communism doesn't account for the cash needed to play on the world stage - it's more geared, in it's true form, towards the needs of the people and in it's terminal form as a way to enrich the elite (kind of like the corporatism which follows from capitalism). The USSR's economic system was beginning to shrink as it's satellite countries were trying to become autonomous and then they tried to eat Afghanistan and ran into the US who had all kinds of cash to spend. If the USSR had not tried to increase it's economic base by annexation, it's possible they'd STILL be the USSR today... but now that we have iPhones and GoogleGlass, who knows?

And Red China is still Red. But, our attitude towards working with a cash-starved population has overtaken our attitude toward their ideology. But, dearest Ed, 40% of the world's poverty? Really???

If you keep this up, I'll have no choice but to refer to you as a brain-dead, anti-science idiot libturd. I'm sure you wouldn't want that to get out...

 

[Sun Devil 92]

Stiglitz has a place much closer to my heart.

he's a typical liberal who wants to tax and spend, and tax and spend! He and Krugman are socialist buds who see themselves as very similar.

Yep - tax the rich hard and spend it to build the middle class to the point where they can support a booming economy again. I don't see a problem with that. The rich will get richer despite taxation. They won't if the middle class is diminished much more.

They seem to be getting quite richer in spite of the stagnate middle class.

 

[Papageorgio]

And, as it turns out, we have similar tastes in music... he tends to be a bit more Bohemian sometimes.

Sounds like you will enjoy your golden years together. Congrats!

 

[CultureCitizen]

What a smug liberal ass. If true sell your house and short the stock and real estate markets!!

I do realize you're the lib fool who wants to ban international trade so we have to grow our own bananas at 50 times the cost.

Smarter even : buy my mortgage from the bank , sell it to the fed as triple A asset and then default on it.
That's QE mostly.

Smarter even : buy my mortgage from the bank , sell it to the fed as triple A asset and then default on it.

They can't default on your mortgage, only you can do that.

That's what I meant. I've got the capital now ( as I sold the "asset" ) , now I can default on it.

 

[CultureCitizen]

The Fed publishes their holdings weekly.

You probably mean this :
FRB H.4.1 Release--Factors Affecting Reserve Balances--May 7 2015
How do we know how good are those bonds and mortgage backed securities ?

 

[oldernwiser]

What a smug liberal ass. If true sell your house and short the stock and real estate markets!!

I do realize you're the lib fool who wants to ban international trade so we have to grow our own bananas at 50 times the cost.

Smarter even : buy my mortgage from the bank , sell it to the fed as triple A asset and then default on it.
That's QE mostly.

Smarter even : buy my mortgage from the bank , sell it to the fed as triple A asset and then default on it.

They can't default on your mortgage, only you can do that.

That's what I meant. I've got the capital now ( as I sold the "asset" ) , now I can default on it.

Ummm... not sure how that works... if you sold the asset and now own capital, how can you default on it? Isn't that asset now on someone else's balance sheet?

 

[Pksimon2007]

- The national debt does not have to be paid back. It's not a debt like a household debt.

spoken like a true idiot liberal. If it does not have to paid back who are the fools lending to us anyway??

- nobody is lending.

They buy an investment.

I've explained to you why Treasuries are sold. The government gets no money they can spend from their sale.

Treasuries are sold in order to sop up excess reserves for interest rate targeting.