Another phrase to call my own (I think): Euro Mercantilism. What the IMF and ECB, et al, are doing to Greece (and will next do to Portugal/Spain/Italy) is WWIII.
Yes, as through this world I've wandered
I've seen lots of funny men;
Some will rob you with a six-gun,
And some with a fountain pen.
["Pretty Boy Floyd", Woody Guthrie]…
Bolting the barn door after the horses have fled is a frequent American silliness. I found the latest when I went to find out about renewing my driving license. Turns out, there's now "verified" license for which one needs a boatload of documentation to get. What's the point, I asked curiously?
Well, beginning in 2017 an American won't be able to board a *domestic* flight without such an ID or valid passport. "You vill schow me you paypahs!!!!" Now, if the threat were, mostly,…Continue
Added by Robert Young on June 28, 2015 at 11:02am — No Comments
On further reflection, and realizing that leopards don't change their spots, I'm much more inclined to view Roberts' siding with the 5 as a major cynical move. Let me explain.
Roberts is just as vile as any one of the Three Stooges, but a tad slier. He knows that in order to implement the Right Wings' "only the little people pay taxes" strategy effectively, the implementers, i.e. The Supremes, must not be seen to do so obviously. This case could, and should, have been tossed on lack…Continue
Added by Robert Young on June 26, 2015 at 9:00am — No Comments
Surprise!! Roberts didn't join with the other wingnuts. I've read through the ruling, and there are genuflections to The Tyranny, even if not acknowledged.
The combination of these three reforms--insurance market regulations, a coverage mandate, and tax credits--enabled Massachusetts to drastically reduce its uninsured rate.
The quote is from the preamble, and sets out the crux of the matter: cover everyone, and charge equally. Note that this is in…Continue
When I concocted the phrase 'tyranny of average cost', I thought it was a new description. I've spent the last bit of time searching the innterTubes for that phrase, and nothing comes up. I suppose I should copyright it.
More to the point, there are a couple of pieces on Seeking Alpha, dealing with Apple. More, still, to the point, is that the argument is really about the problem of unit volume, price, and average cost. Seeking Alpha tends to have not the brightest bulbs in the…Continue
Added by Robert Young on June 24, 2015 at 5:32pm — No Comments
More than once in these musings, there's been talk of where The Giant Pool of Money (yet growing) goes to find above market risk-free returns. Subprime auto loans is one avenue mentioned here. Regular auto loans, now, too. But that latter is as much an effect of a whithering middle class as anything else. Most folks can no longer afford the monthly for a standard car at the (once) standard 3 year…Continue
Added by Robert Young on June 23, 2015 at 9:50am — No Comments
Back when the Euro idea was floated some, not enough, including humble self asserted that it was somewhere between a certain failure and just a cynical attempt by Germany (mostly) to take Europe back to the days of Mercantilism. You can go to the Wiki for more detail, but the essence of Mercantilism is that developed countries extract resources from poor countries and export over-priced goods to these poor countries. Sound familiar?
Why were we so sure the Euro would fail (on the…Continue
Goldman Sachs is at it again. Having bled the housing market, and the rest of the economy, to a near death experience and itself out of lucrative business decides to "innovate" yet again.
"Everything Goldman has done in the last 30 to 40 years has all been focused on the commercial side, or things that abut it very closely," said Chris Kotowski, a bank…
Added by Robert Young on June 16, 2015 at 11:11am — No Comments
There is a God. Donald Trump is running for president!!! Finally, someone willing to say it like it is, to quote Leona, "We don't pay taxes. Only the little people pay taxes." If only the 1% had yet more of GDP, the 99% will be so much better off. May the banter begin.
Matthew Herper is an interesting pundit. He writes for "Forbes", but doesn't routinely pander to corporations. Here's the first sentence from a new piece:
Seven times between August 11, 2008, and June 27, 2013, the Food and Drug Administration declined to approve a new medicine, in part, because patients were more…
If you watch "Jeopardy!", recall that in the middle of the first game, Trebek chats with each contestant, with the current champion generally getting the most leeway. A couple of times, although many years ago, I took the test (the first when Merv had the first casino in Atlantic City used for the tryouts, a converted hotel) and passed. Never got the call. I called my sister, who lives in the San Diego area, if she could find out what the deal was. What she found was that the producers…Continue
It's long been a premise of these endeavors that financial quants really don't do meaningful quant. Leave that to the real scientists. Financial quants dig for cracks in the regulatory environment to legally cheat the system. Sometimes, like Li, they dress up their subterfuge in a pretty pink dress, but the aim is the same: cheat one's way to wealth. It's easy to get rich if one avoids the rules. Some…Continue
All of the various topics of these endeavors flow from a single theme: what actions lead to the greatest good over the long term. Such a theme irritates the micro and quant crowd, since both view the world narrowly to their particular organization over, at most, a calendar quarter. It's a dog eat dog world, right now!! God damn you liberals!!!
One of my fave topics is that the advert driven innterTubes is not sustainable. We saw how it has killed off paper-based…Continue
These endeavors began in March, 2009; one in tribute to Dr. Codd and the other to Dr. Keynes. Both had figured out how to understand important vectors of human endeavor (both of which have been central to my professional life), and both have been ignored and even denigrated for voicing their wisdom. What Santayana said, in it's many variations.
I wrote thus, on 22 March 2009, my first post:
Failure is not success. In the context of a Federal government stimulus…
Added by Robert Young on June 2, 2015 at 8:57am — No Comments