About iwog

iwog


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318 threads
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47 male
Lafayette, CA
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In United States
Registered Nov 10, 2007

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iwog's most recent comments:

  • On 19 Apr 2014 in Housing Bubble 2.0 Veers Elegantly Toward Housing Bust 2.0, iwog said:

    smaulgld says

    inventories skyrocketed: up 41.9% in Phoenix, 28.9% in Ventura, 25.7% in Riverside, 24.8% in Los Angeles, 23.1% in Sacramento, 21.3% in San Diego.

    Prices continue to rise in every single one of those markets.

    Buy now or..........don't make a profit?

  • On 19 Apr 2014 in It's not the fed, iwog said:

    errc says

    Had the fed done nothing at all, you feel we would still be pretty much right where we're at. Now?

    No, I do think the recession would have been worse. The fed is a psychological manipulation machine first. They inspire people to both spend and invest based on the fiction that they can fix things. The fed is mostly a placebo and works the same way.

    However I will acknowledge that there are minor tangible effects from fed actions, mostly concerning banks.

  • On 19 Apr 2014 in It's not the fed, iwog said:

    Heraclitusstudent says

    Do you even agree that the fed has increased the money supply since the crisis?

    No. Money supply growth is almost a straight line. You can't simply say the fed "printed" nothing from 2000 to 2009 then assert the fed "printed" trillions from 2009 onward without a huge impact on the money supply.

    I do acknowledge that fed actions have helped increase the amount of cash in the world, as measured by the M0 and the M1, but these are both a small fraction of the total and do not account for various other effects like burying this cash at the fed and in bank reserves.

    Because of this I must agree with Nobel Prize winning economist Eugene Fama and conclude QE did nothing but move debt terms around a little bit.

    Obviously if the fed isn't increasing the money supply, your other conclusions don't follow.

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